Market Morning Notes 15th July 2024

Markets managed to post weekly gains of around less than a percent on Friday after IT sector index surged nearly 5% to help Nifty surpass 24,500 mark while broader market movement remained subdued. With sharp slide in USDJPY on Friday, we expect selling pressure in Banking sector to continue with Bank Nifty expected to test 51,500.  For Nifty, the upper range is seen at 24700 based on current round of short covering but beyond that market is susceptible to a sharp reversal.Results Today – HDFC Life, HDFC AMC, Jio Fin ServicesNifty 50 ChartPositive Read throughAWHCL – Q1FY25 core sales jumped 11 pct YoY. Waste to Energy plant achieved PLF of 89 pct.HCL Tech – Q1 a slight beat, CC sales fell 1.6 pct, FY25 guidance maintained.Sunteck Realty – Pre-sales grew 29.7 pct at Rs. 5.02 bn, collections increased 19 pct YoY.PTC Ind – To raise funds up to Rs. 7 bn through QIP.IREDA – AUM jumped 34 pct YoY, NIM rose both YoY & QoQ.Avenue Super – Gross margin improves YoY & QoQ, sales increased 18.6 pct YoY.Aurobindo Ph – Board meet on July 18 to consider share buyback.Cipla – Kurkumbh facility classified as voluntary action indicated by US FDA.Lupin – Dabhasa unit in Gujarat gets establishment inspection report from USFDA.Alembic Pharma – Tentative US FDA nod for Selexipag for injection or Uptravi generic.Piramal Ph – USFDA issues zero observations for Ahmedabad facility.Suven Pharma – 2 procedural observations for Casper Pharma in Hyderabad.Zen tech – Launches al-powered robots, unveils 4 products for global market.Ge T&D – Bags contract of Rs. 4.90 bn from Power grid.Apollo Micro – Shortlisted for a make- II project by Indian Army.Zomato – Food delivery platforms raise platform fee, as per reports.Negative Read throughMTNL – Says it is unable to pay semi annual interest to bondholder due to lack of funds.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.