Pre-Market Analysis 
14-Nov-2024

Nifty witnessed heavy selling on Wednesday and closed in red as FIIs continued to sell. We expect a neutral market today. It has support at 23350.

Bank Nifty ended the day in red on expiry day and underperformed the broader market. Our view is neutral for today. It has support at 49500.

Results Corner

1. Eicher Motors Ltd. Q2FY25 consolidated revenues rise by 3.8% YoY to ₹4,186.4 cr and net profits rise 8.3% YoY to ₹1,100.3 cr 2. Apollo Tyres Ltd. Q2FY25 consolidated revenues rise by 2.5% YoY to ₹6,437 cr and net profits fall by -37% YoY to ₹297 cr

Stocks in news

– TCLCONS  Company is lowest bidder for order worth Rs 1.51 billion.– TATAPOWER  Renewable energy unit commissions 126 MW floating solar project in Madhya Pradesh.– INDIAGLYCO  Company forays into premium alcoholic beverages market in India, partners with Amrut distilleries to make, sell select Amrut brands.– WIPRO  Sipchem, Company collaborate for major SAP S/4HANA implementation – VBL  Company opens QIP, sets floor price at ₹594.56/share. – TATACOMM  Company enters into agreement with Transaction Solutions International (India), agreement worth Rs 330 Cr– CIPLA  Company gets eight observations after FDA inspection at Bengaluru plant.– LTIM  Company sets up innovation hub in Texas, expanding its footprint in its leading market of the US.– SWIGGY  Company market cap crosses Rs 1 lakh crore on debut– NBCC  Company bags Rs 263 crore contract in Kanpur from Income Tax Department.

Quick Takeaways

-Automakers see slight growth in domestic sales after three months, driven by festive sales-India’s April-October finished steel imports at seven-year high-Asian markets climb as US CPI data supports Fed easingF&O Stocks in Ban : Aarti Industries Ltd., Aditya Birla Fashion and Retail Ltd., Granules India Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Hindustan Copper Ltd.