Daily  market roundup

NIFTY end little changed amid unhelpful global cues. The 50-share NSE index NIFTY rose 0.02% to finish at 10717.50 on Tuesday. The Indian benchmark NIFTY were little changed as gains in the banking stocks were offset by losses in auto stocks on Tuesday. The investors’ sentiment in India supported to some extent by optimistic key earnings results.

Looking overseas, European markets trading lower while Asian markets finished higher on Tuesday as Geopolitical concerns weighted on the sentiment ahead of President Donald Trump’s announcement of his decision on the Iran nuclear deal.

Among sector gauges compiled by the NSE NIFTY PSU BANK, NIFTY PVT BANK, NIFTY MEDIA, and NIFTY REALTY excelled as top gainers while NIFTY MEDIA, NIFTY AUTO and NIFTY IT are top losers.

From the NIFTY 50 basket of shares, ICICIBANK, HINDPETRO, EICHERMOT, BPCL, and SBIN outperformed as top gainers while M&M, LT, INFY, ZEEL, and HDFC are top losers.

Top stocks to watch on Wednesday 09 May

ICICIBANK: This stock surged by 6.73% and finished at Rs. 309.3. This stock trading volume increased by 587 percent with numerous intraday trades. The momentum of the buyers is indicated by the opening gap appeared in the daily chart. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.275.

FEDERALBNK: This stock trading volume inflated by 90 percent with numerous intraday trades at last trading day. Derivative traders were aggressive in adding long positions and Open interest increased by 4.38 %. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.95.

AMBUJACEM: This stock dropped by 2.47% and to close at Rs.229.45. Derivative traders were aggressive in adding short positions and Open interest surged by 11.99%. This stock is trading below its recent support zone and the near-term resistance is seen around Rs.251.

MCDOWELL-N: This stock slipped by 3.39% and to close at Rs.3359.95. Derivative traders were aggressive in adding short positions and Open interest gained by 5.93%. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.3326.

PTC: This stock surged by 4.12% and closed at Rs.97.2. This stock trading volume rose by 394 percent with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.87.

POWERGRID: This stock trading volume hiked by 181 percent with 71% of the trades are taken for delivery. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.195.

BOSCHLTD: This stock declined by 2.91% and finished at Rs. 19024.35. This stock trading volume inflated by 76 percent with 71% of the trades gone for delivery. This stock is trading below its recent support zone and the near-term resistance is seen around Rs.20164.

SOUTHBANK: This stock strengthened by 3.26% and ended at Rs.26.95. This stock trading volume hiked by 76 percent with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support around Rs.24.

PCJEWELLER: This stock plunged by 15.8% and to close at Rs.202.3. This stock trading volume rose by 104 percent with largely the volumes are intraday in nature. This stock is trading inside the trading range and the support is seen around Rs.131 and resistance is seen around Rs.313.

Jubilant FoodWorks Ltd – Q4 Result Insights

  • Earnings per share grew to Rs 10.32 in this quarter from Rs 1.02 in March quarter last year.

  • The company reported more than 10-fold jump in net profit at Rs 681 million in March 2018 quarter (Q4FY18). It had a profit of Rs 67 million in a year ago quarter
  • Revenue from operations during the quarter under review grew 27% year on year (y-o-y) at Rs 7,798 million against Rs 6,128 million in the corresponding quarter of previous fiscal.

  • EBITDA margin improved 650 bps to 16.4% in Q4FY18 from 9.9% in Q4FY17.

  • The company’s Board also approved a bonus issue in the ratio of 1:1.

  • Operating margin is reported at 16.4 percent, up from 9.9 percent year on year.

Viewpoint: The key strategic initiatives undertaken in the past one year and sharp focus on Digital sales drove strong growth for the company. The firm also reported a growth in same-store-sales growth at 26.5 percent. The company is back of the growth track and management is also keen in expanding its products.