Market Morning Notes For 3rd October 2024
Markets activity remained range bound on Tuesday with initial attempts to regain above 25,880 in Nifty was met with major resistance to finally end on a flat note. The attack on Israel from Iran is likely to trigger major selling in Indian markets if the issue escalates. Overall, the setup in markets suggest selling pressure is expected to aggravate further below 25,500 with a potential decline likely between 11-15%.Nifty50 ChartStocks to watchPositive Read throughAurobindo Pharma – Receives US FDA approval for cephalexin tablets USP, 250 MG and 500 MG.APL Apollo – Total sales for Q2FY25 increased to 7.58 lakh tons.Zydus Life – Receives tentative approval from USFDA for Enzalutamide Tablets, 40 mg and 80 mg.Marico – Expects gross margins to decline annually.OLA – Company sold 23,965 vehicles in September vs 26,928 vehicles MoM.Eicher Motors – September Royal Enfield sales above estimates, up by 11 pct YoY at 86,978 units.JSW Cement – Adds 2 MTPA capacity at Vijayanagar plant in Karnataka.DRL – Signs voluntary licensing agreement with Gilead Sciences to commercialise Lenacapavir.Marico – Q2 consolidated sales growth remained in high-single digits, rural demand outperforms urban.Bharat Forge – September class 8 truck orders grew 124 pct MoM, at a 10-month high.Hero Moto – September total sales above estimates, up 18.7 pct YoY & exports rose 21.7 pct YoY.JSW Energy – Arm gets Lol for 1,500 MW pumped hydro storage in Maharashtra.Aurobindo – Final US FDA nod to manufacturing & market cephalexin tablets, 180-days shared EXCL.Hind Zinc – Q2 mined metal production up 2 pct, saleable metal production up 8 pct YoY.Jubilant Ingrevia – Supply agreement for Agro intermediate by arm to major Agrochem company.Negative Read throughCoal India – September coal production down 1 pct, offtake down 1.4 pct YoY.OMCs/Paint Cos – Oil up for 3rd straight day, brent near USD 75/bbl amid West Asia tensions.Maruti – Total September PV sales down 3 pct, total sales up 1.9 pct YoY.Dabur – Cons Q2FY25 sales to decline in mid-single digits, margin to decline to mid-high teens.Blue Star – WJT file higher than estimates claim of Rs. 4.62 bn in case against company in ICC.Paras Defence – To raise funds via QIP, floor price Rs. 1,096.35/sh.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.
