Indian benchmark indices have been trading in the green amid favourable global cues. At noon, Nifty was trading at Rs 22,488.25, up 84.40 or 0.38 percent.Support for the Nifty came in at 22,200-22,250 and 21,950-22,000 levels. On the higher side, immediate resistance for Nifty was at the 22,500 mark and the next resistance zone was at 22,750-22,800 levels.
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Motilal Oswal's research report on PVR-Inox. PVR-Inox reported a subdued quarter, with 22.6% occupancy and 0.1% EBITDA margin. Revenue declined 19% QoQ, led by weak ticketing and ad revenue, which, coupled with an increase in movie distribution and other expenses, led to EBITDA of INR12m (big miss). The 2024 general elections and T20 Cricket World Cup are likely to weigh on the 1QFY25.
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Motilal Oswal's research report on Thermax. Thermax 4QFY24 results beat our estimates, with in-line revenue and higher than- expected PAT on strong margins. 4Q revenue/EBITDA/PAT grew by 20%/37%/20% YoY. Order inflows stood at INR23b/INR101b in 4Q/FY24 (up 2%/4% YoY), both lower than our estimates. Inflows lacked large-sized orders during the year.
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