Market Continues to Descent; Havells Q2 Result Beats, Maruti Missed Estimates
Nifty gapped lower this morning, following global cues. After finding support near 11,600, Nifty moved 100 points off-lows in the first hour itself. After trading with modest losses, Nifty slipped in ... Nifty gapped lower this morning, following global cues. After finding support near 11,600, Nifty moved 100 points off-lows in the first hour itself. After trading with modest losses, Nifty slipped in the second half and closed 50bps lower. VIX has increased to 24 from a low of 17 at the start of October. Nifty is trading at 1% and 9% above its 50- and 200-DMA, respectively. On the sectoral front, barring Nifty IT (+0.3%), all other indices closed in the red. The selling pressure was not just concentrated in one sector. Nifty Auto, Bank, Financial Services, Pharma, Metal, and FMCG closed 50–100bps lower. Of 2,213 stocks traded, 649 advanced, 1,169 declined, and the rest remained unchanged. Looking forward, we would like Nifty to reclaim its 21-DMA. If it fails to reclaim the 21-DMA, 50-DMA (11,542) can act as strong support. We will continue to monitor general conditions and the behavior of leading stocks, looking for evidence that a real move is commencing. During this time, one should look for stocks with quality fundamentals, RS line trending higher, and breaking out from consolidation areas. Key News Laurus Labs (+2.3%): Q2 FY21 revenue increased 60% y/y to Rs 1,139 crore. PAT was up 329% y/y to Rs 242.2 crore, while margin expanded 1,350bps y/y to 32.8%. Bank Of Baroda (+2.3%) Q2 FY21 results came above estimates. Asset quality also improved. GNPA down 25bps q/q to 9.14% and NNPA down 32bps q/q to 2.51%. Havell's India (-0.5%) Q2 FY21 results beat estimates on all fronts. Revenue increased 10.2% y/y to Rs 2,459 crore. PAT was up 82% y/y to Rs 326 crore. Margin expanded 660bps y/y to 17.1%. Maruti Suzuki India (-1%) Q2 FY21 results missed estimates on all fronts. Revenue increased 10.1% y/y to Rs 18,744 crore. PAT was up 1% y/y to Rs 1,371 crore. Margin expanded 86bps y/y to 10.32%. Check out MarketSmith India for more. Source: Free Articles from ArticlesFactory.com One stop solution for all your Stock Market needs. Get stock market ideas and stock predictions all at one place. A proprietary tool by William O'Neil India following CANSLIM method of investing..
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Dog Upset Stomach - What To Give For Vomiting
Pets are associated with love and kindness. In this day and age, they are our loyal companions and we are entrusted for their health and well being. Despite our efforts and constant caring, they can run into trouble, especially they are prone to catch diseases. Our pets cannot tell us...