Marketplace Morning Notes For 19th April 2024
3 min read
Markets witnessed sharp drop in very last hour of trade to wipe out before gains and ended in losses of .8% forcing Nifty to surrender down below 22,000. The reaction was primarily on back of mounting stress amongst Iran-Israel with Israel expected to escalate war in in the vicinity of upcoming. Tensions are at an all-time high. Iran experienced warned previously that that if Israel goes forward with a retaliation for final week’s attack, Tehran will answer in variety and also pursue a nuclear weapon.
From Indian markets perspective as extended as Brent crude trades below USD 90 a bbl and USDINR below 84 there is no key threat to economical markets, and we anticipate existing correction is not likely to breach underneath 21,650. From investing standpoint, the strategy should be to increase on decline. The optimistic outlook of Nifty crossing 23,500 and Lender Nifty crossing 54,000 mark continue to prevails on again of robust domestic liquidity and 15 crores of operational demat accounts.
Consequence Now – Jio Economic, HDFC AMC, Wipro.
Nifty 50 Chart
Shares to look at
Good Examine By way of
Bajaj Auto – Q4 earnings above estimates, margin enhances 80 bps YoY.
ITC – Co’s arm ITC Infotech to receive 100 pct stake in Blazeclan Tech for Rs. 4.85 bn.
Axis Lender – To mull fund increase through financial debt securities, issuance of shares in April 24 board meets.
ICICI Sec – Q4 profits rose by 17 pct, EBITDA greater by 18 pct QoQ.
Landmark Cars and trucks – Q4 complete income jumped by 8.1 pct, just after income companies rose by 13.3 pct YoY.
Concor – Signs MoU with PSA MESA Source Chain for logistics services to consumers.
RVNL – Signs MoU with Turkish engineering consulting for infra tasks in India.
Indus Towers – Inks MoU with NTPC Environmentally friendly for environmentally friendly energy goals.
GMR Airports – March full passenger traffic up by 10 pct, plane motion up by 6 pct YoY.
Gokaldas Exp – QIP to increase up to Rs. 6 bn opens currently, floor selling price at Rs. 789.99/sh.
Mahindra Lifestyle – Sells households really worth Rs. 3.50 bn in 2 times at Bengaluru’s Mahindra Zen.
Sharda Motors – Board approves buyback of up to 1.027 mn shares at Rs. 1800/share.
Vesuvius – Inaugurates flux plant in Visakhapatnam, capex above next several several years at Rs. 10 bn.
Suzlon Power – Receives interim remain from Gujarat Significant Courtroom from approximately Rs.2.61 bn penalty.
Oil upstream shares – Brent selling prices increase 3.85 pct in trade because of to escalation.
SJVN – To carry out business enterprise in the area of electrical power era from all renewable energy sources.
Damaging Read through Via
Infosys – Q4 sales and margins pass up estimates, FY25 CC gross sales progress advice beneath estimates.
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