Market Morning Notes For 15th October 2024
Markets rebounded sharply on back of support from Bank Nifty helping Nifty-50 to regain above 25100. It is not unusual that indices attempt rebound as they are trading close to 50 DMA, but as long prices trade below previous week high risk of sharp decline is not ruled out. At present markets are going through dead cat bounce pattern with short term major resistance for Nifty seen at 25,235 and larger breakdown expected on close below 24,800.Result Today – HDFC AMC, HDFC LifeNifty50 Chart Stocks to watchPositive Read throughWabag – Bags order of Rs. 10 bn for a 100 MLD sea water desalination plant from Indosol Solar.HCL Tech – Q2 above estimates, lower-end of CC sales growth guidance raised to 3.5 pct.Reliance – Q2 profit above estimates, JIO ARPU rose 7 pct, oil & gas margin expands YoY.Ola Electric – Consolidates market share to 34 pct in October 2024.OMCs/Paints Cos – Brent falls nearly 3 pct, below USD 76/bbl on West Asia updates, OPEC demand cut.Maruti – Launches Baleno Regal edition across all variants of the new age Baleno.Sunteck Realty – Q2 pre-sales up 32.7 pct, collections grew 24.8 pct YoY.Angel One – Q2 margin at 44.4 pct vs 33.5 pct, profit jumped 45 pct QoQ.CESC – Signs SPA to acquire Deshraj Solar Energy executing 300 MW solar PV plant.Landmark Cars – Q2 total sales from operations grew 14 pct YoY & up 9.5 pct QoQ.Honeywell – Bags airfield ground lighting project for Noida international airport.IRCTC – 72,000 liters/day rail neer unit in Vijayawada starts production.Lyka Labs – Gets CDSCO nod to manufacture & market pregabalin gel 8 pct in India.IOC – To form JV with Everenviro Resource for sustainable energy solutions.J Kumar – Bags work order worth Rs.2.97 bn from Pune Municipal Corporation.GIC RE – AM Best upgrades fin strength rating to A- (excellent) from B++ (good).Negative Read throughGopal Snacks – Margin at 11.6 pct vs 12.7 pct, EBITDA fell 1.4 pct YoY.ONGC/OIL – Brent falls nearly 3 pct, below USD 76/bbl on West Asia updates, OPEC demand cut.Chalet Hotels – To reverse deferred tax assets & liabilities amounting tο Rs. 2.03 bn.Allcargo Terminals – September CFS volumes up 2 pct YoY, down 6 pct MoM.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
