June 23, 2024

INDIA TAAZA KHABAR

SABSE BADA NEWS

Marketplace Morning Notes For 24th Might

2 min read

Nifty unfolded a blowout rally in a weekly expiry session yesterday and the index attained shut to 400 points soon after a flat opening. The Nifty broke out of the critical degrees of 22,600 and shut at clean all-time highs. Financial institution Nifty outperformed Nifty with a 1000 pt get breaking out of its possible vary as nicely. We expect momentum to accelerate additional for upside target of 23,500. Major weights like HDFC Financial institution, Kotak Lender and TCS which has so far remained laggard are also very likely to see surge of 10-15% in the coming days as broader industry may well result in profit reserving and rally could be concentrated to Nifty 50 Index.

Result Currently – NTPC, Hindalco, United Spirits, Cochin Ship, Ashok Leyland, Antony Waste

Nifty 50 Chart

Shares to look at

Positive Read through by way of

HCL Tech – acquires HP’s communications tech team assets for $225 mn.

Solar Pharma shareholders approve merger of Taro pharma & Co.

UPL, Aarti Ind – kind JV co, Augene Chem to production & sector specialty chem.

Indigo – 6th consecutive quarter of profitability, income up 26 pct YoY.

JK lakshmi – EBITDA up 46 pct, margin at 16.8 pct vs 11 pct YoY.

Zee Ent- seeks termination cost of $90 m from culver max & bangla entertainment (sony).

Brigade Ent- signals JDA to establish a proj in bengaluru, gdv at ₹720 cr.

Fortis Wellbeing- margin at 21 pct vs 16.5 pct, hospitals biz rev up 10.3 pct YoY.

Honasa- EBITDA vs EBITDA loss, fundamental volume advancement at 27 pct YoY.

Navin Fluorine: enterprise device executed five 12 months materials source arrangement for offer of a fluoro intermediate for novel agrochemical product, financial investment expected at Rs.. 150 mn.

SML Isuzu: web revenue at Rs. 52 cr vs Rs. 27 cr, revenue at Rs. 680 cr vs Rs. 583 cr.

Damaging Read through by means of

Landmark Vehicles- EBITDA down 12 pct, margin at 6.25 vs 7.1 pct YoY.

Mangalore Chem – EBITDA down 71.6 pct, margin at 4.6 pct vs 11 pct YoY.

Orchid Pharma – EBITDA down 27.2 pct, margin at 13.3 pct vs 18.9 pct YoY.

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