Market Morning Notes 30th July 2024

Markets cooled off from day’s high to end on a flat note yesterday after Nifty failed to clear the psychological mark of 25,000 with India VIX ending with gains of more than 3%. We expect market to remain under pressure on back of hanging man pattern appearing in the previous week and expect Nifty to trigger major breakdown on close below 24,700.Results Today – Dixon, IOC, Tata Consumer, TitagarhNifty 50 ChartStocks to watchPositive Read throughACC – Posted Q1 in-line with estimates, sales volumes at 10.2 MT vs estimate of 9.7 MT HPCL – Reported Q1 below estimates, profit fell 87.5 pct, margin shrank 230 bps QoQ.Colgate – Reported Q1 above estimates, high-single digit volume growth in toothpaste business Kalpataru Proj – Margin at 8.2 pct vs 9 pct, profit tumbled 19.1 pct YoY.Jindal Saw – Margin expanded 320 bps, profit grew 70 pct YoY Mah Seamless – EBITDA fell 49 pct, margin at 11 pct vs 20 pct YoY.Sonata Soft – Partners with Applied Sys for platform engineering & enterprise modernisation PNB Housing Fin – Carlyle Group to sell up to 6.4 pct stake via block, floor price Rs. 755/sh.Rites – Signs MoU with NHAI to deliver consultancy services for NHAI projects Quess Corp – EBITDA down 5.8 pct, margin at 3.7 pct vs 4 pct QoQ.RVNL – Declared lowest bidder for a project worth Rs. 7.40 bn Ideaforge – EBITDA down 88 pct, margin at 4 pct vs 29 pct YoY.Sona BLW – Gets nod for 2 more products under LI from Heavy Industry Ministry Balmer Lawrie – margin at 10 pct vs 11 pct, EBITDA down 2 pct YoY.Data Patterns – EBITDA inches up 34 pct, margin at 35.7 pct vs 31 pct YoY Wonderla – Sales came at Rs 1.73 bn vs Rs 1.85 bn, profit at Rs 632 mn vs Rs 845 mn.KEI Ind – EBITDA jumped 22 pct, margin at 10.4 pct vs 9.9 pct YoY.Defence Companie – DAC clears capital acquisition proposals to enhance capabilities of Indian Army and Coast Guard.Coal India – Coal output seen growing by 6-7 pct annually in next few years, says Ministry of Coal.ITD Cem – Gets order worth Rs. 12.37 bn for constructing residential colony in New Delhi.VBL – Board Meeting On today to Consider the Proposal of Stock split of shares.BEL – Defense Acquisition Council approves procuring defense series maps.Bharti Airtel – Ready to launch standalone technology after re-farming existing spectrum for 4G services.Negative Read throughHPCL – Reported Q1 below estimates, profit fell 87.5 pct, margin shrank 230 bps QoQ.Kalpataru Proj – Margin at 8.2 pct vs 9 pct, profit tumbled 19.1 pct YoY.Mah Seamless – EBITDA fell 49 pct, margin at 11 pct vs 20 pct YoY.PNB Housing Fin – Carlyle Group to sell up to 6.4 pct stake via block, floor price Rs. 755/sh.Quess Corp – EBITDA down 5.8 pct, margin at 3.7 pct vs 4 pct QoQ.Ideaforge – EBITDA down 88 pct, margin at 4 pct vs 29 pct YoY.Balmer Lawrie – margin at 10 pct vs 11 pct, EBITDA down 2 pct YoY.Wonderla – Sales came at Rs 1.73 bn vs Rs 1.85 bn, profit at Rs 632 mn vs Rs 845 mn.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.