Market Morning Notes For 25th October 2024
Markets ended red on Thursday with Nifty forming Doji candle and closed below 100 day Moving average indicates indecision between buyers and sellers. A minor support level is evident in the 24,200 to 24,250 range. If prices break below this zone, we may witness increased selling activity, with potential targets extending down to 22,800.Result Today – BEL, J&K BankNifty 50 ChartStocks to watchPositive Read throughPower Grid – Emerges as the successful bidder for a transmission project in Gujarat.Axis Bank – RBI approves re-appointment of Amitabh Chaudhry as Axis Bank MD and CEO.Kansai Nerolac – Board approves sale of a land parcel in Mumbai for Rs 7.26 bn.Tech Mahindra – Announces AI center of excellence, powered by Nvidia AI enterprise and Omniverse platforms.Insolation Energy – ags order of Rs 2.08 bn for the supply of solar PV modules at NTPC site.NLC – In pacts with Rajasthan Rajya Vidyut Utpadan Nigam for formation of two JVs.Dixon Tech – Posted profit at Rs 4.12 bn vs Rs 1.13 bn, Sales at Rs 115.34 bn, grew 133 pct YoY.UBL – Headline number better than expected, premium volume up 27 pct.Cyient – Posted results in-line, USD sales grew 10 pct QoQ.Nippon Life – sales jumped 13 pct QoQ but below estimates, operating profit remains healthy.ITC – Posted healthy Q2, sales 9 pct greater against estimates, cigarette volume grew 3 pct.Godrej Cons – Sales and EBITDA came at higher than estimates, volume growth in line.Bikaji – EBITDA margins expanded despite gross margin contraction, volume jumped 15 pct.Godrej Prop – Surpasses full year business development guidance of Rs. 200 bn.PNB Housing – NIM rose more than 100 bps QoQ, NII in-line.Negative Read throughSuryoday SFB – Weak quarter sequentially, operating profit fell 12 pct QoQ.MGL – Sales tumbled 8 pct, margin below estimates at 23.3 pct, volume at 4.10 mmscmd.NTPC – Higher finance cost & expenses drag results, gross generation declined 2 pct Yoy.Petronet LNG – Weak Q2 as volume slipped, headline numbers fell QoQ.Finolex Ind – Sales declined due to weaker realisation, EBITDA fell 90 pct YoY.JSW Energy – Sales declined 1 pct, margin fell 530 bps YoY.RR Kabel – Posted weak results, margin fell ~300 bps, volume up 3.8 pct YoY.Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
