Market Morning Notes For 21st Could

Markets for the 7 days settled with gains of 2% with development of bullish piercing line sample on candlestick on Nifty 50 Index although movement in Nifty Bank remained subdued with gains minimal to 1%. With Nifty 50 regaining handle above 22,300, the bullish momentum has been activated with rapid goal noticed at 23,500. The target of 23,500 is based on weekly re-testing of upper range of growing channel where prices are expected to consolidate in near future.  Intense long positions in Nifty futures can be included at present concentrations with weekly goal put at 23,200.

Outcome Right now – BHEL, PI Industries, Va Tech Wabag

Nifty 50 Chart

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Favourable Study as a result of

BEL – Claimed balanced Q4, income improved by 32 pct, EBIDTA rose 25 pct YoY.

Tata Motors – Group raises its expense outlay for FY25 to Rs 430 bn for new products and solutions and systems, with its British arm JLR.

SAIL – Modified EBIDTA superior than estimates at Rs. 19.54 bn, volumes down 3 pct YoY.

City Union Bank – Functioning income declines but asset high quality enhances, NII jumped 6 pct YoY.

Biocon – Biosimilar Aflibercept receives interchangeable status from US Fda

Oil India – Announces 1-for-2 bonus difficulty, margin up 280 bps YoY.

Updater – Muted topline, margin expands, IFM Gross sales up 7 pct YoY.

Ujjivan SFB – Merger aids topline, asset quality deteriorates, NII grew 27 pct YoY.

Kalpataru Projs – Contract value of 3 Aramco’s orders at Rs. 75.50 bn.

Data Designs – Product sales slips 2 pct, margin rose sharply to 51.1 pct vs 39.7 pct YoY.

Whirlpool – Product sales rose 4 pct, EBIDTA inches up by 36 pct & margin up 200 bps YoY.

IRFC – NII improved by 35 pct, profit improved by 34 pct YoY.

Godrej Attributes – Acquires 10 land parcels in FY24 to create assignments really worth Rs 210 bn.

Cipla – Exelixis in settlement pact with Cipla for Cabometyx.

Bharti Airtel – Introduced repayment of remaining USD 550 mn bond reaching a zero-credit card debt place at Holding Corporation Airtel Africa.

Negative Go through via

ONGC – Weak margin, realisations lower QoQ, margin down 610 bps QoQ.

Lupin – US Food and drug administration troubles 6 observations for Somerset manufacturing facility.

India Cements – Volumes & realisations declined YoY, Posted loss at Rs. 290 mn.

Talbros Engg – Sales down 3 pct, margin slips 20 bps to 10.5 pct YoY.

Camlin Good – Revenue falls 6 pct, margin slips 700 bps to 3.3 pct YoY

Thangamayil Jewellery – Financial gain down 9 pct, margin slips 250 bps to 4.9 pct YoY.

Chemplast – Internet decline at Rs 310 mn vs revenue Rs 460 mn, gross sales at Rs 1.05 bn vs Rs 1.15 bn. YoY.

Camlin Fantastic – Net loss at Rs 771 mn vs earnings Rs 92 mn, revenue at Rs 4.02 bn vs Rs 4.27 bn.

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