Market will open on a negative side today.
After a gap-down opening yesterday, Nifty made a new 7 month low but recovered later to settle at 10124.9 on the last day of October month derivative expiry. Nifty has a resistance around 10290-10350 zone.
Another Doji formation on the daily chart but plotting lower lows. Nifty should close above 10550 to regain the bullish momentum though a dip below 10000 mark is not ruled out.
Microsoft's upbeat earnings helped US markets to recover almost previous session's losses.
🎯 News & Impact 🎯
Major Results Today :
ICICI Bank, ITC, UPL, Dr. Reddy’s Lab, BEL, Nestlé.
Major Results Updates :
🎯 Yesbank :
Net Interest Income up 27 % at Rs.2,407 crore.
Net profit down 4 % at Rs. 965 crore.
Provisions up 50 % at Rs.940 crore.
GNPA at 1.60 % versus 1.31% (QoQ).
Positive for the stock. 👍
🎯 Bharti Airtel :
Revenue up 2 % at Rs.20,423 crore.
Net Profit up 22 % at Rs.119 crore.
Margin at 30.6 % versus 33.5 %.
🎯 Biocon (YoY) :
Revenue up 36 % at Rs.1,321 crore.
Net profit up 5.1 times at Rs. 355 crore.
Margin at 25.7 % versus 18.9 %.
Positive for the stock. 👍
🎯 L&T Technologies (YoY) :
Revenue up 40.6 % at Rs.1,226.1 crore.
Profit up 55.7 percent at Rs 191 crore.
Ebitda Margin at 18.1 %.
🎯 RBI clarified that Ujjivan Financial and Equitas Holdings must list small finance bank separately.
🎯 Essar Steel :
Ruia family offered to pay all creditors to retain ownership of Essar Steel.
🎯 Kridhan Infra :
Kridhan Infra arm received construction order worth Rs.167 crore.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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