MARKET CAPSULE 27th JAN'24 | Support Broken! Time to be Cautious?

Welcome! Thank you for stopping by. Ready for a speedy catch-up on last week's highlights?

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A Down Week for Nifty 50 The 3-day trading week recently concluded on a bearish note with Nifty 50 breaking and closing below a strong support zone of 21500 which also happens to be a 21 day Moving Average level. The recent performance of the Nifty 50 index on January 23, 2024, Tuesday has sent notes of caution through the investor community with index tanking 333 points in a single day.

Are we bearish on markets? No, we believe we have more legs to this rally however one must remain catious and should invest in the sectors showing positive price action and high momentum. Recently, PNB came out with stellar set of numbers and couled by a news of LIC's interest in picking up stake in HDFC Bank should act as positive triggers for the market next week.

Sectors that we believe can lead next week includes, PSU Banks, PSEs and Energy.

Further, if you are a short term swing trader/investor do check out our Top 7 Good-looking charts for next week below.

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	Table of Contents:
1.	Heatmap
2.	Market Breadth
3.	Quarterly Result Updates
4.	Seven good-looking charts for next week ⭐
5.	Breaking News
6.	IPO Nexus ⭐
7.	Beyond Equity Markets

Charting the Pulse of Indices: Sector Wise Performance

Heatmap

Market Breadth

A) Nifty 500

B) Nifty 50

Note: Breadth measures the percentage of securities in NIFTY 50 / NIFTY 500 surpassing specified moving averages over the specified period. High counts or percentages are depicted in green, neutral values in yellow, and lower counts in varying shades of red. Green shades signify an upward trend, yellow denotes a neutral stance, and red shades represent a downward trend.

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Blockbuster Results ⭐⭐⭐⭐⭐

• Gensol Engineering Ltd reported revenue of ₹201 Cr., up by 336% YoY and 4% QoQ.

• Infibeam Avenues Ltd. came out with robust results with Revenue of ₹912 Cr., up by 120% YoY.

• Lloyds Metals & Energy Ltd. posted revenue of ₹1,911 Cr., up by 91% YoY and 75% QoQ.

• Spandana Sphoorty Financial Ltd. reported revenue of ₹591 Cr., up by  74% YoY.

• Adani Power Ltd. came out with revenue of ₹12,991 Cr., up by 67% YoY and stable QoQ.

• IIFL Securities Ltd. posted revenue of ₹559 Cr. with growth of 63% YoY and OPM of 43%.

• Puravankara Ltd. came out with revenue of ₹574 Cr. with growth of 46% YoY and 56% QoQ.

Good Results ⭐⭐⭐

• Bharat Dynamics Ltd. came out with revenue of ₹602 Cr., up by 30% YoY with OPM of 20%.

• Olectra Greentech Ltd. reported revenue of ₹342 Cr. up by 33% YoY.

• Redtape Ltd. reported revenue of ₹618 Cr. with growth of 29% YoY and 90% QoQ.

• Tips Industries Ltd. posted revenue of ₹64.8 Cr. with growth of 27% YoY with OPM of 67%.

• Axis Bank Ltd. reported revenue of ₹28,865 Cr., up by 26% YoY and 5% QoQ.

Average Results ⭐

• Shriram Finance Ltd. posted Net Profit Margin of 20.13% as compared to 23.10% in Q3FY23.

• Sona BLW Precision Forgings Ltd reported revenue of  reported revenue of ₹782 Cr., up by 16% YoY with OPM of 30%.

• Transformers & Rectifiers India Ltd. came out with revenue of ₹369 Cr. with growth of 11% YoY and 43.6% QoQ.

• Dodla Dairy Ltd. posted revenue of ₹747 Cr., up by 11% YoY with OPM of 11%.

• L T Foods Ltd. reported revenue of ₹1,942 Cr., up by 9% YoY with OPM of 12%.

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Five top gainers of this week

	Stocks	Percentage Increase
1.	Rites Ltd.	31.6%
2.	NBCC (India) Ltd.	31.5%
3.	Borosil Renewables Ltd.	27.5%
4.	Sterling & Wilson Renewable Energy Ltd.	26.3%
5.	HFCL Ltd.	25.0%

Seven good-looking charts for next week 1. Jubilant Pharmova Ltd.

2. Inox Wind Ltd.

3. BEML Ltd.

4. Subros Ltd

 5. Great Eastern Shipping Company Ltd.

6. Godrej Industries Ltd.

7. Star Cement Ltd.

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Business Expansions:

• TCS has enabled Euroclear Finland, the National Central Securities Depository of Finland, to integrate its core platform with the European securities settlement engine.⭐

• Shree Cement has commenced commercial production at its Nawalgarh cement plant in the Gothra Village of Nawalgarh Tehsil, Rajasthan.

• Lemon Tree Hotels has inked a Franchise Agreement for a new hotel in Anjar, Gujarat, under its brand 'Keys Select,' featuring 61 well-appointed rooms.

• Raymond has established a fully owned subsidiary, 'JKFEL Tools and Technologies Limited,' to consolidate its engineering businesses.⭐

• Avenue Supermarts Limited opened a new store at Bardoli, Surat (Gujarat) totalling to 345.⭐

Order Wins:

• Ahluwalia Contracts (India) Ltd. has secured an order of ₹180 Cr. for Expansion of Max Smart Super Specialty Hospital.⭐

• Mazagon Dock Shipbuilders Ltd. has inked a deal with the Ministry of Defence's Acquisition wing to construct and deliver fourteen Fast Patrol Vessels for the Indian Coast Guard.⭐

• The Heavy Engineering arm of Larsen & Toubro has won multiple orders in the domestic and international markets.

• Railtel Corporation of India Ltd bags order of worth ₹162.73 Cr. from Navodaya Vidyalaya Samiti.⭐

• Oriental Foundry Private Ltd., a WoS of Oriental Rail Infrastructure Ltd. won order of ₹55.77 Cr. for Manufacture and Supply of 122 (Two Rake) BOXNHL Wagons and 02 Brake Vans from THDC India Ltd.
  

Mergers/ Acquisitions/ Amalgamations:

• Uflex Ltd. signed an Agreement for acquisition of 9.49% equity shares aggregating to ₹6.24 Cr. in Amplus Phoenix Energy Private Ltd.

• The Competition Commission of India has greenlit the merger of Fincare Small Finance Bank with AU Small Finance Bank.⭐

• Piramal Enterprises arm Piramal Alternatives Trust to acquire 10.39% stake in Annapurna Finance for ₹300 Cr.⭐
  

Bonus Share Issue & Share Price Splits:

• Sinclairs Hotels Ltd. is going to issue fully paid-up Bonus Shares in the ratio of 1:1 on 29th Jan’24.

• Salasar Techno Engineering Ltd is going to issue fully paid-up Bonus Shares in the ratio of 4:1 on 1st Feb’24.

• Sandur Manganese & Iron Ores Ltd. planned to issue fully paid-up Bonus Shares in the ratio of 5:1 on 2nd Feb’24.⭐

• Growington Ventures India Ltd has set 31st Jan’24 for stock split from ₹10 to ₹1.

• Maagh advertising and marketing services Ltd. has set 5th Feb’24 for stock split from ₹10 to ₹1.

Agreements:

• Hero Motocorp has partnered with CG Motors to serve as its distributor in Nepal.⭐

• UFO Moviez Enters into a Strategic Alliance with TSR Films for Acquiring Exclusive Advertising Rights of TSR’s 403 Screens.⭐

• Jiangsu Alphamab Biopharmaceuticals, 3D Medicines (Beijing), and Glenmark have signed a global License Agreement for KN035 (Envafolimab).

• Cyient Ltd’s US Subsidiary, Cyient Inc. has entered into an agreement to settle a civil class action antitrust lawsuit for an amount of USD7.4 million.

Appointments & Resignations:

• Mr. Neelesh Bothra, CFO of Spencer's Retail Ltd. has tendered his resignation from his position with effect from 20th Jan, 2024.

• Atul Mehra, Joint Managing Director and Key Managerial Personnel of JM Financial, has submitted his resignation.

• The Board of Jindal Stainless has approved the elevation of Mr Tarun Khulbe as the Chief Executive Officer & Whole Time Director.

• The Karnataka Bank has appointed Mr. Venkat Krishnan V as the Chief Information Officer of the Bank with effect from 22nd Jan'24.

• L&T Finance Holdings Limited did some changes in the management.

• Mr. Milin Bande has resigned from the position of the Chief Financial Officer of Tasty Bite Eatables.

• Shri Madhur Bajaj resigned from the position of Non-Executive Director of Bajaj Auto with effect from close of business hours on 24nd Jan'24.
  

Other News:

• Tata Motors submitted Form 15F to the US Securities and Exchange Commission, seeking to delist its securities and end reporting obligations under the US Securities Exchange Act.

• Lupin has gained tentative approval from the USFDA for its ANDA, allowing the marketing of a generic version of Janssen Pharmaceuticals' XareltoR Tablets.

• Infosys is expanding its AI presence at the 2024 Australian Open, employing generative AI technologies for enhancing fan engagement, player performance, and creating digital content.⭐

• Airtel prepaid ₹8,325 Cr. to clear high cost deferred liabilities for spectrum acquired in 2015.
  

Listed IPOs:

	Company Name	Listing Date	Issue Price	Listing Price	Current Price	Listing Gain
1.	Maxposure Ltd.	23rd Jan, 2024	₹ 33	₹ 145	₹ 124.35	317.4%
2.	Medi Assist Healthcare Services Ltd.	23rd Jan, 2024	₹418	₹ 465	₹ 464.30	11.0%

Upcoming IPOs:

	Company Name	Open Date	Close Date	Offer Price	Issue Size (Cr.)
1.	Baweja Studios Ltd.	29th Jan, 2024	1st Feb, 2024	₹170-180	₹91.80-97.20
2.	Megatherm Induction Ltd.	29th Jan, 2024	31st Jan, 2024	₹100-108	₹49.92-53.91
3.	Harshdeep Hortico Ltd.	29th Jan, 2024	31st Jan, 2024	₹42-45	₹17.82-19.09
4.	Mayank Cattle Food Ltd.	29th Jan, 2024	31st Jan, 2024	₹108	₹19.44
5.	BLS E-Services Ltd.	30th Jan, 2024	1st Feb, 2024	₹129-135	₹297.09-310.91
6.	Gabriel Pet Straps Ltd.	31st Jan, 2024	2nd Feb, 2024	₹101	₹8.06

That's all for now! I hope you enjoyed the content. Thankyou for reading, and wishing you a fantastic weekend and a profitable week ahead! Disclaimer: Any stock or company discussed above should not be considered as a Buy/Sell recommendation. We personally or our clients might or might not have a position in any of the stocks discussed. This newsletter is purely is for educational purposes only.