Navin fluorine very strong earnings
Q1FY23-YoY
Revenue up 23% at 387cr vs 314cr (est at 421cr)
EBITDA up 28% at 100cr vs 78cr (est at 93cr)
OPM at 25.8% vs 24.8% (est at 22.2%)
PAT up 40% at 79cr vs 56.4cr (est at 63cr)
Gross Margins up 220bps QoQ
Q1FY23-YoY
Revenue up 23% at 387cr vs 314cr (est at 421cr)
EBITDA up 28% at 100cr vs 78cr (est at 93cr)
OPM at 25.8% vs 24.8% (est at 22.2%)
PAT up 40% at 79cr vs 56.4cr (est at 63cr)
Gross Margins up 220bps QoQ
Good numbers from persistent systems , margins improve for 10 straight quarters
Brokerages raise target price and earnings estimate of kotak Mahindra bank post strong earnings
CITI
Buy, TP raised to Rs 2120
HSBC on Kotak BK
Hold, TP raised to Rs 2030
Strong loan growth, NIMs expansion, muted credit costs, asset quality improvement were +ve highlights
Deposit growth remained modest
Buy, TP raised to Rs 2120
HSBC on Kotak BK
Hold, TP raised to Rs 2030
Strong loan growth, NIMs expansion, muted credit costs, asset quality improvement were +ve highlights
Deposit growth remained modest
SBI says
decent credit growth seen in the industry
deposits are very critical to fund credit growth
there is unspent money from the governmetn
expect more money to be spent by the govt
economy is on the upswing
auto sales have rebounded
real estate sales on the rise
capacity utilisation has gone up in corporate sector
good traction picking up in corproate capex
12 lakh crores worth of fresh corporate investments in the H1FY23
last year, 20 lakh crore of fresh corproate investments came in
decent credit growth seen in the industry
deposits are very critical to fund credit growth
there is unspent money from the governmetn
expect more money to be spent by the govt
economy is on the upswing
auto sales have rebounded
real estate sales on the rise
capacity utilisation has gone up in corporate sector
good traction picking up in corproate capex
12 lakh crores worth of fresh corporate investments in the H1FY23
last year, 20 lakh crore of fresh corproate investments came in
Nykaa could continue to be under pressure, now down 3% , on November 10 the lock in for pre ipo shareholders will expire hence more selling could come through
Stock to watch today
Tata chemicals
strong earnings in Q2
Revenue up 40% YoY at 4239cr
EBITDA up 84% YoY at 920cr
Margins up 510 bps YoY at 21.7%
Profits up 176% at 685cr
Gross debt down 177cr at 4232cr
Tata chemicals
strong earnings in Q2
Revenue up 40% YoY at 4239cr
EBITDA up 84% YoY at 920cr
Margins up 510 bps YoY at 21.7%
Profits up 176% at 685cr
Gross debt down 177cr at 4232cr
Morning folks!
-SGX nifty up 90 points, big gap up coming
-very strong results from SBI and Bank of Baroda
-bank nifty less than 600 pts away from ATH
- Foreign investors buy in cash for 7th session
- Dow up 400 pts on friday
-strong earnings from Titan,TVS motor, britannia
-SGX nifty up 90 points, big gap up coming
-very strong results from SBI and Bank of Baroda
-bank nifty less than 600 pts away from ATH
- Foreign investors buy in cash for 7th session
- Dow up 400 pts on friday
-strong earnings from Titan,TVS motor, britannia
Britannia at fresh 52 week high , up 7% post strong earnings . Market share at 15 year high
BIG CUES TODAY
SGX nifty hinting at muted opening , quiet start
TCS results not as bad as market feared
Revenue beat estimates , $ rev up 2.8% QoQ
Co is confident of exit margins of 25%
TCS says europe is the big concern, cautious on growth outlook
FII selling reduced considerably yesterday
FIIs sold 203cr in cash yesterday , DIIs bought 1723cr
US markets consolidate gains, Nasdaq sees second day of gains
Strong gains in european markets, FTSE up 200 pts
nifty closed above 100 DMA of 17900 yesterday
pullback could extend further today on positive cues
brent continues to be below 80$/bbl
SGX nifty hinting at muted opening , quiet start
TCS results not as bad as market feared
Revenue beat estimates , $ rev up 2.8% QoQ
Co is confident of exit margins of 25%
TCS says europe is the big concern, cautious on growth outlook
FII selling reduced considerably yesterday
FIIs sold 203cr in cash yesterday , DIIs bought 1723cr
US markets consolidate gains, Nasdaq sees second day of gains
Strong gains in european markets, FTSE up 200 pts
nifty closed above 100 DMA of 17900 yesterday
pullback could extend further today on positive cues
brent continues to be below 80$/bbl
IMP CUES TODAY
Market to react to strong earnings from tech majors
Infosys : Big positive is FY23 Rev guidance revised up to 16-16.5% vs 15-16% earlier
Infosys says cost pressures and economic concerns continue on client side, impacting discretionary spends
HCL tech reported a beat on revenues and margins
very strong quarter from Cyient : $ rev growth of 12.7% , big margin improvement by 310 bps QoQ
FII selling has reduced to 1662cr yesterday, DIIs bought 2127cr in cash yesterday
strong global handover, cooling off of US inflation and positive local cues to aid market
nasdaq up for 5 straight days
retail inflation in india cools off to 12 month low of 5.72%
Market to react to strong earnings from tech majors
Infosys : Big positive is FY23 Rev guidance revised up to 16-16.5% vs 15-16% earlier
Infosys says cost pressures and economic concerns continue on client side, impacting discretionary spends
HCL tech reported a beat on revenues and margins
very strong quarter from Cyient : $ rev growth of 12.7% , big margin improvement by 310 bps QoQ
FII selling has reduced to 1662cr yesterday, DIIs bought 2127cr in cash yesterday
strong global handover, cooling off of US inflation and positive local cues to aid market
nasdaq up for 5 straight days
retail inflation in india cools off to 12 month low of 5.72%
MARKET CONSOLIDATES WITH NEGATIVE BIAS
large selling continues from foreign investors
FIIs sold 2559cr in cash market yesterday
in last 4 days , FIIs have sold 7774cr in cash
DIIs bought 639cr in cash market yesterday
weak earnings from hero moto , margins below 12% for 4th consecutive quarter
bharti airtel profits down 26% hit by exceptional loss
this morning, positive opening expected on back of strong handover from US , Dow up 250 pts
Fed chair says Inflation is declining
RBI policy today , 25 bps rate hike priced in
Nifty is now down 2% from 18th jan higH, 17800 acting as resistance
large selling continues from foreign investors
FIIs sold 2559cr in cash market yesterday
in last 4 days , FIIs have sold 7774cr in cash
DIIs bought 639cr in cash market yesterday
weak earnings from hero moto , margins below 12% for 4th consecutive quarter
bharti airtel profits down 26% hit by exceptional loss
this morning, positive opening expected on back of strong handover from US , Dow up 250 pts
Fed chair says Inflation is declining
RBI policy today , 25 bps rate hike priced in
Nifty is now down 2% from 18th jan higH, 17800 acting as resistance
SGX nifty down 22 pts
Weak global handover, Dow down 232 pts
February 2023
Dow Jones down 4.2%
S&P 500 down 2.6%
Nasdaq down 1.1%
FIIs sell 4559cr in cash
DIIs buy 4609cr in cash
Q3 GDP slows down for 2nd consecutive quarter to 4.4% on higher inflation , waning demand
BSE companies have lost market cap of 25 lakh crore in last 2 months
sell on rally strategy playing out , prudent to stay cautious post weak global handover
Weak global handover, Dow down 232 pts
February 2023
Dow Jones down 4.2%
S&P 500 down 2.6%
Nasdaq down 1.1%
FIIs sell 4559cr in cash
DIIs buy 4609cr in cash
Q3 GDP slows down for 2nd consecutive quarter to 4.4% on higher inflation , waning demand
BSE companies have lost market cap of 25 lakh crore in last 2 months
sell on rally strategy playing out , prudent to stay cautious post weak global handover