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Trendlyne Analysis

Nifty 50 closed at 18,089.85 (-57.8, -0.3%), BSE Sensex closed at 61,193.30 (-161.4, -0.3%) while the broader Nifty 500 closed at 15,276.40 (-24.4, -0.2%). Of the 1,940 stocks traded today, 924 showed gains, and 966 showed losses.

Indian indices snapped their six-day gaining streak and closed in the red. Nifty 50 fell around 65 points and closed below the 18,100 mark. MRF rose over 5.5% as its Q4FY23 net profit surged 86% YoY to Rs 313.5 crore while its revenue increased by 10%.

Nifty Midcap 100 closed in the green, despite the benchmark index closing in the red. Nifty Energy and Nifty Infra closed lower than Tuesday’s levels. Nifty IT closed in the red, in line with the tech-heavy Nasdaq 100, which fell 0.9% on Tuesday. According to Trendlyne’s sector dashboard, hotels, restaurants & tourism was the top-performing sector of the day for a second straight trading session.

European stocks traded in the green. However, major Asian indices closed lower. European stocks rose, led by banking stocks ahead of the interest rate decision by the US Fed later today. Eurozone unemployment hit a record low of 6.5% in March, the lowest since the EU's statistics agency started compiling jobless figures in April 1998. Brent crude oil futures extended losses and traded sharply lower after falling over 5.2% on Tuesday.

• Relative strength index (RSI) indicates that stocks like Rail Vikas Nigam, Welspun India, Syngene International and Oracle Financial Services Software are in the overbought zone.

• Havells India’s Q4FY23 net profit rises 1.6% YoY to Rs 358 crore and revenue grows by 9.8% YoY driven by its switchgear and cables segments. The stock shows up in a screener for companies with improving net cash flow over the past two years.

• MRF, 3M India and Hindustan Aeronautics are trading above their second resistance or R2 level despite markets trading lower.

• Bharat Heavy Electricalsrises over 6% in trade today. The stock ranks high on Trendlyne’s Checklist, scoring 72.7%. It also features in a screener of companies with strong momentum.

• Godrej Properties is rising as its Q4FY23 net profit surges 58.2% YoY to Rs 412.1 crore and revenue grows by 23.7% YoY. The firm’s booking value and customer collections increase by 25% and 52% YoY in Q4. The stock shows up in a screener for companies with high TTM EPS growth.

• MRF is rising as its Q4FY23 net profit surges 86% YoY to Rs 313.5 crore and revenue increases 10%. Net profit margin has improved 268 bps YoY to 5.76% in Q4. The company has declared a dividend of Rs 10 per share in FY23. The stock is trading near its 52-week high.

• Transportation, fertilizers and healthcare equipment & supplies sectors rise more than 12% over the past 90 days.

• Dr. Reddy’s Laboratories and Anupam Rasayan India touch their 52-week highs of Rs 4,960 and Rs 1,224.2, respectively. Dr. Reddy’s has risen 6.5% in the past month, while the other increased by 40.3%.

• Virender Jeet, CEO of Newgen Software Technologies, says the company will grow over 20% in FY24. He adds that its margin will increase by 22%.

  #OnCNBCTV18 | #Orderbook growth has been more than the #revenue growth. #FY24 growth will be more than 20%, says Virender Jeet of Newgen Software pic.twitter.com/SrxUqipkJ8

  — CNBC-TV18 (@CNBCTV18Live) May 3, 2023

• Sun TV Network’s annual RoCE stands at 27.2%, outperforming the broadcasting and cable TV industry by 9.2 percentage points.

• Macrotech Developers, Dalmia Bharat and Persistent Systems underperform the Nifty 50 index over the month post their Q4FY23 results.

• Adani Wilmar is falling as its Q4FY23 profit drops 60% YoY to Rs 93.61 crore, while its revenue declines 7%. The profit for FY23 also dips 27.6% to Rs 582.12 crore. The stock shows up in a screener for companies with low debt.

• IT stocks like L&T Technology Services, LTIMindtree, Mphasis, Tata Consultancy Services and Coforge are falling in trade. All the constituents of the broader sectoral index Nifty IT are also trading in the red.

• Aviation stocks like InterGlobe Aviation (Indigo), SpiceJet and Jet Airways are rising in trade after Go First filed for voluntary insolvency proceedings with the NCLT (National Company Law Tribunal).

  IndiGo, SpiceJet, Jet Airways shares price: Aviation stocks jump up to 6 per cent after Go First files for insolvency#StockMarket#GoFirstAirlines#IndiGo#SpiceJet#JetAirwayshttps://t.co/ADdsVUtRy7

  — ET NOW (@ETNOWlive) May 3, 2023

• Blue Star, Ceat and Hero MotoCorp's weekly average delivery volumes rise ahead of their Q4FY23 results tomorrow.

• ICICI Direct maintains its ‘Buy’ rating on Ultratech Cement with a target price of Rs 9000, implying an upside of 19.7%. The brokerage remains positive about the company’s growth prospects given its market leadership, strong brand value, expansive retail presence and robust balance sheet. It expects the firm’s revenue to grow at a CAGR of 12% over FY23-25.

• Ahluwalia Contracts (India) wins an order worth Rs 744.7 from DLF Home Developers for the construction of civil structures and waterproofing work for the Arbour project located at Gurugram.

• Indostar Capital Finance will open an offer for sale (OFS) today in which promoter group firms Everstone Capital Partners II and Indostar Capital will offload a 14.2% stake (1.9 crore shares) in the company. After the OFS, Indostar Capital will hold a 17% stake, while the promoter group will own 75%.

• India’s services PMI surges to the highest level since June 2010, reaching 62 in April from 57.8 in March.

  S&P Global April Services PMI at 62.0 vs 57.8 in March.
  
  Alert: S&P Global April Services PMI rises to highest level since June 2010 pic.twitter.com/xhTur9wKc7

  — CNBC-TV18 (@CNBCTV18Live) May 3, 2023

• PSU bank stocks like Central Bank of India, Punjab & Sind Bank, UCO Bank and Bank of Baroda are falling in trade. All constituents of the broader index, Nifty PSU Bank, are also trading in the red.

• Hulst BV, promoter of Coforge, sells a 3.5% stake in the company for approx Rs 887 crore in a bulk deal on Tuesday.

• Crude prices fall sharply to around $75 per barrel. The decline is due to concerns about more rate hikes by the US Federal Reserve and a decline in manufacturing activity in China, among other factors.

  Crude cracks | Crude at lowest level since March 24
  
  What are the key reasons for the decline? How does it impact the Indian economy?
  
  From the sectors impacted to the stocks to watch out for, @soumeet_sarkar is here with the details #crude#oil#StockMarketpic.twitter.com/zx58UU8OOR

  — ET NOW (@ETNOWlive) May 3, 2023

• DCM Shriram is falling as its Q4FY23 net profit dips 53.5% YoY to Rs 186.7 crore and revenue declines by 2.7% YoY. The company’s profitability has been impacted by rising raw material and power & fuel costs, while its revenue is hit by weakness in its chloro-vinyl and farm solutions segments.

• KEI Industries is rising as its Q4FY23 net profit increases by 19% YoY to Rs 138.1 crore. Revenue also rises 9% YoY, led by growth in cables & wires and stainless-steel wires segments. The company's profit margin improves by 60 bps YoY to 7.07% in Q4. The stock has touched its 52-week high in the past week.

• Ambuja Cements is rising after reporting an increase in standalone net profit by 1.6% YoY to Rs 502.4 crore and an 8.4% rise in revenue. Expenses has grown 12% on high raw material costs in Q4. The company recommends a final dividend of Rs 2.5 per share for FY23. It shows up in a screener of stocks with growth in profit margin (QoQ).

• Tata Steel’s Q4FY23 net profit plunges by 82.5% YoY to Rs 1,704.9 crore and its revenue falls by 9.2% YoY due to declining steel prices and weakness in its European business. The stock shows up in a screener for companies with weak Piotroski scores.

Riding High:

Largecap and midcap gainers today include Indian Railway Finance Corporation Ltd. (35.45, 5.66%), MRF Ltd. (93,559.80, 5.60%) and InterGlobe Aviation Ltd. (2,164.10, 4.68%).

Downers:

Largecap and midcap losers today include Adani Wilmar Ltd. (397.45, -4.33%), Adani Enterprises Ltd. (1,839.00, -4.21%) and Adani Total Gas Ltd. (922.95, -3.76%).

Movers and Shakers

28 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Engineers India Ltd. (94.85, 14.90%), Ceat Ltd. (1,638.30, 7.68%) and Bharat Heavy Electricals Ltd. (86.95, 6.56%).

Top high volume losers on BSE were Manappuram Finance Ltd. (113.95, -12.14%), Bombay Burmah Trading Corporation Ltd. (979.40, -5.84%) and DCM Shriram Ltd. (804.40, -1.82%).

Jamna Auto Industries Ltd. (104.20, -0.53%) was trading at 10.2 times of weekly average. Jyothy Labs Ltd. (193.75, 0.78%) and MRF Ltd. (93,559.80, 5.60%) were trading with volumes 10.0 and 9.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

26 stocks overperformed with 52-week highs, while 1 stock was an underachiever and hit its 52-week low.

Stocks touching their year highs included - Akzo Nobel India Ltd. (2,422.00, 0.51%), Apollo Tyres Ltd. (355.35, 2.64%) and Carborundum Universal Ltd. (1,104.70, -1.03%).

Stock making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Ltd. (1,248.15, 1.43%).

16 stocks climbed above their 200 day SMA including RHI Magnesita India Ltd. (684.00, 6.30%) and PNB Housing Finance Ltd. (485.25, 5.92%). 8 stocks slipped below their 200 SMA including Indiabulls Real Estate Ltd. (71.90, -1.84%) and V-Guard Industries Ltd. (246.20, -1.64%).

Trendlyne Analysis

Nifty 50 closed at 18,147.65 (82.7, 0.5%), BSE Sensex closed at 61,354.71 (242.3, 0.4%) while the broader Nifty 500 closed at 15,300.75 (81.2, 0.5%). Of the 1,994 stocks traded today, 1,130 showed gains, and 790 showed losses.

Indian indices pared gains towards the end of the trading day and closed in the green. The Nifty 50 rose nearly 70 points and closed above the key 18,100 mark. According to the data released by the Centre for Monitoring Indian Economy (CMIE), the joblessness rate of India rose to 8.1% in April from 7.8% in March. Rural unemployment fell marginally by 13 bps MoM to 7.3%.

Nifty Midcap 100 and Nifty Smallcap 100 closed outperformed the benchmark index and closed in the green. Nifty Pharma and Nifty Realty closed lower than Friday’s closing levels. Nifty IT closed sharply higher, despite the tech-heavy Nasdaq 100 closing flat on Monday. According to Trendlyne’s sector dashboard, Hotels, Restaurants & Tourism was the top-performing sector of the day as it rose over 2%.

Most European indices traded in the red except for Switzerland’s SMI trading in the green. European stocks traded lower as the Eurozone GDP grew by 1.3%YoY in Q1CY22 against the economist’s estimate of 1.4%. US indices futures trade lower indicating a negative start.

• REC sees a long buildup in its May 25 future series as its open interest rises 4.7% with a put-call ratio of 0.84.

• Rail Vikas Nigam is rising as it bags an order worth Rs 2,249 crore through its joint venture with SCC, in which the company has a 51% share. The project involves the construction and design of an irrigation distribution network in Banswara, Rajasthan. The project is expected to be completed in 42 months.

• Alkem Laboratories and Indian Bank touch their 52-week highs of Rs 3,544.1 and Rs 330.7, respectively. Alkem Labs has risen 8.6% in the past month, while the other increased by 17.6%.

• Coforge is falling in trade as 21.55 lakh shares (3.5% equity) of the company, amounting to Rs 891.8 crore, change hands, according to reports.

  #Coforge Large Trade | 21.55 lakh #shares (3.5% #equity) worth ?891.8 crore change hands at ?4,125/share#BlockDeal#LargeTradepic.twitter.com/e9Qu4O7n1Y

  — CNBC-TV18 (@CNBCTV18Live) May 2, 2023

• Coal India is rising as its production grows 7.7% YoY to 57.6 MT in April. The company's over burden removal (OBR) has improved by 31% YoY, which will help in stepping up coal production during monsoon.

• Hitachi Energy India, Maruti Suzuki India, Bosch and Eicher Motors are trading above their third resistance or R3 level.

• Tejas Networks, IndusInd Bank and Bank of Maharashtra outperform the Nifty 50 index over the month post their Q4FY23 results.

• Reports suggest that 19.4 crore shares (0.94% equity) of Rail Vikas Nigam, amounting to Rs 229.7 crore, change hands in a large trade.

  #RVNL Large Trade | 19.4 cr shares (0.94% equity) worth ?229.7 cr change hands at an average of ?117/sh#BlockDealpic.twitter.com/qbDxqSZyAa

  — CNBC-TV18 (@CNBCTV18Live) May 2, 2023

• According to reports, brokerage CLSA downgrades Kotak Mahindra Bank to ‘Buy’ from ‘Outperform’ as it believes that the stock’s upside is limited, given the recent run-up in share price. Macquarie maintains its ‘Neutral’ rating on the bank, stating that the firm’s profitability is strong but growth is below expectations.

• Energy stocks like Adani Green Energy, Oil and Natural Gas Corp and NTPC are rising in trade. All constituents of the broader Nifty Energy index are also trading in the green.

• Varun Beverages is rising as its Q1CY23 net profit surges 68.8% YoY to Rs 429.1 crore and revenue rises 37.8% YoY. This robust performance is driven by the total sales volume increasing by 24.7% YoY on account of healthy demand across India. The stock shows up in a screener for companies with improving cash flow from operations over the past two years.

• V Vaidyanathan, Managing Director and CEO of IDFC First Bank, says the bank’s deposits will grow 40-45% in FY24. He expects the bank’s credit card business to be profitable by FY25.

  LIVE | IDFC First Bank Q4 beats guidance
  
  Here's what Managing Director and CEO of the company V Vaidyanathan has to say on the robust growth trends, margin growth and more@nikunjdalmia#StockMarket#IDFCFIRSTBank@IDFCFIRSTBankhttps://t.co/pVDcC4pkx8

  — ET NOW (@ETNOWlive) May 2, 2023

• IndiaMART InterMESH is falling as its net profit falls 2.8% YoY to Rs 55.8 crore in Q4FY23. However, revenue grows 33.5% YoY to Rs 268.8 crore on the back of growth in web & related services and accounting software services segments. It shows up in a screener of stocks with increasing revenue for the past eight quarters.

• HDFC Securities downgrades Voltas to ‘Reduce’ from ‘Accumulate’ and lowers the target price to Rs 750 from Rs 925. This implies a downside of 6.5% from the current market price. The brokerage cites Voltas' loss in market share in key business segments as the reason for the downgrade and expects revenue to grow at a CAGR of 13.2% over FY23-25.

• RBL Bank's net profit rises 37% YoY to Rs 271 crore in Q4FY23. Interest income also grows 17.1% YoY led by the retail and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 103 bps and 24 bps YoY respectively. It shows up in a screener of undervalued growth stocks.

• According to reports, oil marketing companies (OMCs) like Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp may see a stake increase by the Centre, as they submit their capital investment plans. Instead of subsidies, the Rs 30,000 crore capital announced in the budget may be used for equity infusion in these OMCs.

• NBCC India is rising as it bags an order worth Rs 749.3 crore to redevelop and modernize presses belonging to the Indian government in Mayapuri, Delhi, Nashik and Kolkata. The stock shows up in a screener for companies with no debt.

• R Subramaniakumar, Managing Director and CEO of RBL Bank, says the bank's retail segment will grow by 24-25% in FY24. He adds that NIM (net interest margin) will be above 5%, while credit cost will be around 1.5-2%.

  #OnCNBCTV18 | Will maintain credit growth with retail segment growth of 24-25%. Retail-to-wholesale ratio is at 55:45. Credit cost will be the area of focus, will hold it around 1.25%, says R Subramaniakumar of #RBLBank#4QWithCNBCTV18pic.twitter.com/P6D3LUszfn

  — CNBC-TV18 (@CNBCTV18Live) May 2, 2023

• Mahindra & Mahindra's total wholesales for April 2023 rise 36.5% YoY to 62,294 units. Its total passenger vehicle wholesales also increase 54% YoY but total exports fall 32.9% YoY.

• Metal stocks like Hindalco Industries, JSW Steel, APL Apollo Tubes and Tata Steel are rising in trade. The broader sectoral index BSE Metal is also trading in the green.

• Centre reduces the windfall tax on locally produced crude oil to Rs 4,100 per tonne from the earlier Rs 6,400. Meanwhile, excise duty on petrol, diesel and ATF (aviation turbine fuel) remains nil.

  #WindfallTax on #Crude Petroleum was decreased to ?4,100/tonne from ?6,400/tonne, while special additional excise duty on #ATF, #Diesel & #Petrol continues to remain nil pic.twitter.com/6sSQ04qIWb

  — CNBC-TV18 (@CNBCTV18Live) May 2, 2023

• Bajaj Auto's total wholesales rise 6.6% YoY to 3.3 lakh units in April 2023. Its total domestic wholesales also increase 108.6% YoY but exports drop 43.3% YoY.

• NCC is rising as it bags six new orders worth Rs 3,344 crore in April from state and central government agencies for its buildings, electrical, and water divisions. The stock has touched a 52-week high today.

• Ultratech Cement is falling as its Q4FY23 net profit declines 32% YoY to Rs 1,665.95 crore on higher costs. Power and fuel costs rise 34% YoY and freight expenses surge 20%. However, revenue increases 18% due to rising domestic sales. It shows up in a screener of stocks where brokers have upgraded recommendations or target prices in the past three months.

• Kotak Mahindra Bank’s Q4FY23 net profit rises 26% YoY to Rs 3,495.59 crore with net interest income increasing 35%. The bank’s margins also improve 97 bps YoY to 5.75%. The bank has declared a dividend of Rs 1.5 per share for FY23. The stock is trading near its 52-week high.

Riding High:

Largecap and midcap gainers today include Indian Railway Finance Corporation Ltd. (33.55, 5.67%), Adani Power Ltd. (235.95, 4.94%) and IDFC First Bank Ltd. (63.85, 3.91%).

Downers:

Largecap and midcap losers today include Atul Ltd. (6591.55, -4.08%), Delhivery Ltd. (364.60, -2.62%) and Hero MotoCorp Ltd. (2,495.90, -2.45%).

Movers and Shakers

34 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Welspun India Ltd. (101.05, 15.35%), Alkyl Amines Chemicals Ltd. (2,583.85, 9.30%) and Aarti Drugs Ltd. (457.80, 8.78%).

Top high volume losers on BSE were Atul Ltd. (6,591.55, -4.08%), Timken India Ltd. (2,915.15, -2.29%) and V-Guard Industries Ltd. (250.30, -1.77%).

TCNS Clothing Co. Ltd. (502.75, 2.02%) was trading at 20.9 times of weekly average. Hatsun Agro Products Ltd. (882.00, 4.01%) and Sapphire Foods India Ltd. (1,242.90, 3.93%) were trading with volumes 15.8 and 13.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

37 stocks hit their 52-week highs, while 4 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Akzo Nobel India Ltd. (2,411.10, 3.72%), Bajaj Auto Ltd. (4,498.00, 1.49%) and Bombay Burmah Trading Corporation Ltd. (1,040.10, 0.29%).

Stocks making new 52 weeks lows included - Atul Ltd. (6,591.55, -4.08%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,230.60, -0.91%).

29 stocks climbed above their 200 day SMA including Aarti Drugs Ltd. (457.80, 8.78%) and Hitachi Energy India Ltd. (3,448.75, 4.24%). 2 stocks slipped below their 200 SMA including Sanofi India Ltd. (5,427.10, -2.57%) and Tube Investments of India Ltd. (2,582.35, -0.26%).

Trendlyne Analysis

Nifty 50 closed at 18,065.00 (150.0, 0.8%), BSE Sensex closed at 61,112.44 (463.1, 0.8%) while the broader Nifty 500 closed at 15,219.55 (144.5, 1.0%). Of the 1,949 stocks traded today, 1,255 showed gains, and 626 showed losses.

Indian indices rose sharply towards the end of the trading session and closed in the green for a fifth consecutive day. The Nifty 50 rose nearly 150 points and closed above the key 18,000 mark. In the past week, the benchmark Nifty 50 index has risen nearly 2.5% as investors analysed Q4FY23 earnings from major companies.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Media and Nifty PSU Bank closed sharply higher than Thursday’s closing levels. Nifty IT closed in the green, taking cues from the tech-heavy Nasdaq 100, which closed 2.76% higher on Thursday. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment was the top-performing sector of the week as it rose over 12%.

Most European indices traded in the red, despite all major Asian indices closing in the green. European stocks traded lower as the French Consumer price index rose 5.9% YoY in April, ahead of the expected 5.7%, while Spanish CPI came in at 4.1%, higher than the previous month’s 3.3%. Brent crude oil futures traded lower and are set to post weekly losses for a second straight week.

• Money flow index (MFI) indicates that stocks like Glenmark Pharmaceuticals, Welspun India, Raymond and Varroc Engineering are in the overbought zone.

• Star Health and Allied Insurance Co is rising as its posts a net profit of Rs 101.8 crore in Q4FY23, compared to a loss of Rs 82 crore in Q4FY22. The firm’s net premium earned rises 11.1% YoY. The stock shows up in a screener for companies with book value per share increasing over the past two years.

• Gujarat State Fertilizer Chemicals rises 26.8% in the past week and outperforms the Nifty 500 index by 24.4%. The stock ranks high on Trendlyne’s checklist, scoring 73.9%. The company features in a screener of companies with strong momentum.

• Finolex Cables and Larsen & Toubro hit their all-time highs of Rs 922.4 and 2,362.7 respectively. The former has risen 13.7% over the past month, while the other increased by 9.5%.

• Mphasis rises as its Q4FY23 net profit increases 3.4% YoY to Rs 405.3 crore, with its revenue improving by 2.6% YoY. The company shows up in a screener of stocks with improving annual net profit for the past two years.

• Rail Vikas Nigam rises 5.9% in trade today. It shows up in a screener of stocks which have gained more than 20% in the past month. The company also bags an order worth Rs 121 crore on Thursday.

• Dipali Goenka, CEO of Welspun India, says the company’s sales will grow 10-12% in FY24. She adds that Welspun aims to reduce its net debt to Rs 1,000 crore by the end of FY24.

  Earnings With ET NOW | Strong Q4 for Welspun India
  
  What factors will be at play for FY24?
  
  Dipali Goenka, the CEO of the company, speaks on guidance, Bed Bath and Beyond and the rationale behind announcing buyback @TheWelspunGroup@DipaliGoenka@SrishtiSharma_@_sherylldpic.twitter.com/B2liQcvmo8

  — ET NOW (@ETNOWlive) April 28, 2023

• Glenmark Life Sciences is rising as its Q4FY23 net profit surges 48% YoY to Rs 146.4 crore and revenue increases 20.9% YoY. The robust performance is driven by strong traction in the API and CDMO segments. CFO Tushar Mistry attributes the growth to better margins from higher CDMO contribution, improved product mix, PLI benefit, and lower input costs.

• PSU banks like UCO Bank, Central Bank of India and Punjab & Sind Bank are rising in trade. All constituents of the broader Nifty PSU Bank index are also trading in the green.

• Indian Hotels and Bank of Maharashtra’s annual profit growth outperform their respective sectors by 418% and 87.4% respectively.

• PI Industries is surging as its subsidiary, PI Health Sciences, enters a share purchase agreement (SPA) with US based Therachem Research Medilab LLC (TRM US) to acquire a 100% stake in TRM India, Indian subsidiary of TRM US, for $42 million (approximately Rs 343.4 crore). It also enters an SPA with Plahoma Twelve GmbH to acquire a 100% stake in Archimia for 34.2 million euros (approximately Rs 307.8 crore).

• Indian Hotels Co’s Q4FY23 net profit jumps 4.4X YoY to Rs 328.3 crore and revenue surges by 86.4% YoY on the back of robust demand and high revenue per room. The company’s EBITDA margin expands by 14.7 percentage points to 32.9%. Puneet Chhatwal, Managing Director and CEO, targets an EBITDA margin of 33% for FY25.

  LIVE | Stellar Q4 for Indian Hotels
  
  Puneet Chhatwal, the Managing Director & Chief Executive Officer of the company, shares his views on the numbers, new hotels and more@TajHotels#IHCL#StockMarket@nikunjdalmiahttps://t.co/QsG4dt2APv

  — ET NOW (@ETNOWlive) April 28, 2023

• Trent is falling after posting a net profit of Rs 45 crore, which is lower than analyst estimates due to high discounting and poor product mix in Q4FY23. However, its revenue grows by 64.3% YoY to Rs 2,182.7 crore. The company shows up in a screener of stocks with good quarterly growth in Q4FY23.

• KRChoksey downgrades its rating on Bajaj Auto to ‘Accumulate’ from ‘Buy’ with a target price of Rs 4,756, implying an upside of 7.3%. The brokerage has become more cautious about the company's future due to uncertainty surrounding the timing of export recovery. It also expects margins to stagnate in the coming quarters and sees limited upside given the stock’s recent run-up.

• Fertilizers, hardware technology & equipment, realty and forest materialssectors rise more than 15% in the past month.

• IRB Infrastructure is rising as it bags a contract worth Rs 7,380 crore to build Hyderabad Outer Ring Road (158 km long). The stock has gained 54.28% from its 52-week low.

• LTIMindtree is rising as its net profit rises 0.5% YoY to Rs 1,113.7 crore in Q4FY23. Revenue also increases 21.9% YoY on the back of a strong order book of $1.4 billion (approximately Rs 1.1 lakh crore) during the quarter. The company shows up in a screener of stocks with increasing revenue for the past 4 quarters.

• Umesh Revankar of Shriram Finance expects the company’s GNPA to fall below 6% in the coming year. He adds that credit cost will improve in the upcoming quarters. The company's consolidated net interest income for Q4FY23 amounts to Rs 4,533.6 crore.

  #4QWithCNBCTV18 | Expect performance to be much better in FY24. GNPA will likely be below 6% in the next one year. Will be able to maintain NIM at current levels: says Umesh Revankar of Shriram Finance pic.twitter.com/bwToHLjygl

  — CNBC-TV18 (@CNBCTV18Live) April 28, 2023

• Telecom stocks like Indus Towers, Tejas Networks, HFCL, Tata Teleservices (Maharashtra) and Tata Communications are rising in trade. The broader sectoral index S&P BSE Telecom is also trading in the green.

• Godrej Consumer Products will acquire Raymond Consumer Care’s FMCG business for Rs 2,825 crore. The stock has hit its 52-week high in the past week.

• Tech Mahindra’s Q4FY23 net profit declines by 25.8% YoY to Rs 1,117.7 crore despite its revenue rising by 13.2% YoY. The firm’s profitability has been impacted by the contraction in its financial business vertical and higher employee costs. Its total contract value drops by 44% YoY to $592 million in Q4.

• Satyanarayana Chava, Founder and CEO of Laurus Labs, expects an improvement in the company’s API (active pharmaceutical ingredient) sales and margins to reach 25% in FY24. He adds that Laurus’ margin has been the lowest in three years due to factors like the continued fall in the price of ARVs (antiretroviral drugs).

  #4QWithCNBCTV18 | Expect to reach a margin of 25% in FY24. Expect debt to remain at similar levels around ?2,000 cr. Expect FY24 to be a year of consolidation, Satyanarayana Chava of Laurus Labs to CNBC-TV18 pic.twitter.com/EepbZ3heM8

  — CNBC-TV18 (@CNBCTV18Live) April 28, 2023

• ACC reports a 41% YoY decline in Q4FY23 net profit to Rs 235.6 crore, with power and fuel costs and freight costs dropping by 9.4% and 1.8%, respectively. The cement segment drives an 8.2% YoY revenue increase. The stock has fallen 38% from its 52-week high.

• Embassy Office Parks REIT's Chief Executive Officer Vikaash Khdloya resigns to pursue other interests, with effect from June 30, 2023. The board appoints Aravind Maiya as the Chief Executive Officer, effective from July 1, 2023.

• Axis Bank is falling after reporting a net loss of Rs 5,361.8 crore in Q4FY23 against a net profit of Rs 4,417.7 crore in Q4FY22 because of the Citibank acquisition deal. Amitabh Chaudhary, MD & CEO, says that this is a one-time cost and if the acquisition cost is excluded, the bank’s profit would have grown by 61% YoY. Its net interest income has grown 33% YoY, while advances saw a 20% increase.

• Wipro’s Q4FY23 net profit marginally falls by 0.4% YoY to Rs 3,074.5 crore on the back of higher employee costs and other expenses. Its revenue rises by 11.2% YoY, while its total bookings grow by 29% YoY. The firm’s last twelve-month attrition rate dips by 4.6 percentage points to 19.2%. The stock shows up in a screener for companies with declining net cash flow.

Riding High:

Largecap and midcap gainers today include PI Industries Ltd. (3,384.50, 10.40%), Indus Towers Ltd. (155.00, 7.01%) and Zomato Ltd. (64.90, 6.92%).

Downers:

Largecap and midcap losers today include Shriram Finance Ltd. (1,332.60, -5.19%), Godrej Consumer Products Ltd. (907.50, -4.83%) and Axis Bank Ltd. (860.00, -2.43%).

Volume Rockets

44 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Edelweiss Financial Services Ltd. (65.80, 15.74%), Lloyds Metals & Energy Ltd. (326.00, 15.56%) and Ceat Ltd. (1,557.20, 10.97%).

Top high volume losers on BSE were Godrej Consumer Products Ltd. (907.50, -4.83%), CSB Bank Ltd. (279.50, -4.67%) and CESC Ltd. (68.50, -2.91%).

EIH Ltd. (188.75, 10.06%) was trading at 17.9 times of weekly average. Polyplex Corporation Ltd. (1,358.55, 7.39%) and Tejas Networks Ltd. (658.70, 4.58%) were trading with volumes 10.0 and 9.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

24 stocks hit their 52-week highs, while 4 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Apollo Tyres Ltd. (346.90, 1.60%), Bajaj Auto Ltd. (4,431.95, 0.54%) and CCL Products India Ltd. (599.10, -0.13%).

Stocks making new 52 weeks lows included - MMTC Ltd. (28.25, -11.30%) and Laurus Labs Ltd. (307.60, 5.32%).

24 stocks climbed above their 200 day SMA including Edelweiss Financial Services Ltd. (65.80, 15.74%) and Ceat Ltd. (1,557.20, 10.97%). 3 stocks slipped below their 200 SMA including Sanofi India Ltd. (5,570.10, -6.62%) and Trent Ltd. (1,367.75, -1.05%).

Trendlyne Analysis

Nifty 50 closed at 17,915.05 (101.5, 0.6%), BSE Sensex closed at 60,649.38 (348.8, 0.6%) while the broader Nifty 500 closed at 15,075.05 (80.7, 0.5%). Of the 1,952 stocks traded today, 1,131 were on the uptrend, and 757 went down.

Nifty 50 rose over 100 points from its day’s low and closed above the 17,900 mark on a volatile day of trade. RBI Governor Shaktikanta Das stated that Indian Banks are resilient and not adversely impacted by recent global events, but their business models must be reviewed to ensure adequate capital and liquidity buffers.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty FMCG closed flat after recovering from the day’s low. All other major sectoral indices closed higher than Wednesday’s levels. According to Trendlyne’s sector dashboard, the Telecom Services was the top-performing sector of the day, rising over 1.6%.

All major European indices traded in the green, tailing major Asian indices that closed higher. US indices futures traded lower as investors waited for US Q1FY23 GDP numbers to be released later today.

The US House of Representatives narrowly passed a bill to raise the government's debt ceiling to USD 3.14 trillion while pushing for major spending cuts, against the wishes of President Joe Biden. The bill is expected to be dead on arrival in the Senate.

• Relative strength index (RSI) indicates that stocks like Rail Vikas Nigam, Aurobindo Pharma, Gujarat State Fertilizer & Chemicals and Glenmark Pharmaceuticals are in the overbought zone.

• Reserve Bank of India Governor Shaktikanta Das says that the Indian banking system has not been adversely impacted by the recent banking crisis in advanced economies. He adds that the RBI has started looking into the business models of banks and even nudged them to strengthen their capital buffers during periods of stability.

  "The Indian banking system has remained resilient and has not been affected adversely by the recent sparks of financial instability seen in some advanced economies," says RBI governor #ShaktikantaDas during his address at Global Conference on Financial Resilience
  
  (ANI)
  
  Catch… pic.twitter.com/8MsZ7Uep3p

  — Economic Times (@EconomicTimes) April 27, 2023

• Embassy Office Park REIT's net profit declines 87.3% YoY to Rs 35.4 crore in Q4FY23. However, its revenue rises 15.8% YoY on the back of distributions of Rs 532 crore. According to Vikaash Khdloya, CEO of the company, it is well-positioned to take advantage of global businesses seeking skilled talent and low costs in India.

• Mankind Pharma’s Rs 4,326.4 crore IPO gets bids for 15.32X the available 2.8 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 92% of the available 1.4 crore shares on offer.

• Bajaj Finserv is rising as its Q4FY23 net profit increases by 31.4% YoY to Rs 1,769 crore, while its revenue rises 25.3% YoY. This growth is driven by rising interest income and premiums from its insurance business. The stock shows up in a screener for companies with improving book value per share over the past two years.

• Morgan Stanley maintains its ‘Overweight’ rating on HDFC Life Insurance Co and increases the target price to Rs 700. The brokerage has also raised the APE (annualized premium equivalent) and VNB (value of new business) estimates for FY24/25 by 5% and 1-3% respectively.

  #CNBCTV18Market | MS gives an overweight rating on HDFC Life, target raised to ?700/sh, raises FY24/25 APE estimates by 5% & VNB estimates by 1-3% pic.twitter.com/e2ooJRwDCa

  — CNBC-TV18 (@CNBCTV18Live) April 27, 2023

• Textiles stocks like KPR Mill, Trident, Raymond and Alok Industries are rising in trade. The broader sector of textiles is also trading in the green.

• HDFC Life Insurance, Hindustan Zinc, Lupin and Godrej Consumer Products are trading below their second support or S2 level.

• CSB Bank, Mangalore Refinery and Petrochemicals and SBI Cards and Payment Services rise 5.2%, 3.2% and 2.1% respectively over the past week, ahead of their Q4FY23 results tomorrow.

• Hindustan Unilever’s Q4FY23 net profit rises 12.8% YoY to Rs 2,600 crore, with total sales increasing 10.8%. Revenue has also grown across segments like home care, beauty & personal care and food. Sanjiv Mehta, MD & CEO, says that with easing inflation, lowering commodity prices and consumption readjustment, price and volume growth will rebalance.

• Voltas is falling as its net profit declines 21.3% YoY to Rs 143.9 crore on the back of higher input costs and other expenses. However, the firm’s revenue rises 10.9% YoY driven by growth across all business segments. The company shows up in a screener for stocks trading below their short, medium and long-term averages.

• Shoppers Stop is surging as it reports a net profit (Rs 14.3 crore) for the fourth consecutive quarter in Q4FY23. Revenue rises 29.5% YoY to Rs 923.9 crore on the back of growth in sales from the private brands and beauty segments. The stock is trading 63.2% higher than its 52-week low of Rs 396.6.

• Suresh S Iyer, Managing Director and CEO of Can Fin Homes, says the company’s asset quality has improved marginally. He adds that Can Fin’s loan growth will be around 18-20% in FY24.

  LIVE | Asset quality improves marginally QoQ for Can Fin Homes
  
  Suresh S Iyer, the MD & CEO of the company, speaks on the growth roadmap, margins and provisions @canfinhomesltd@nikunjdalmia@avannedubash@_anishaj#StockMarkethttps://t.co/5VTKvAGWUt

  — ET NOW (@ETNOWlive) April 27, 2023

• Coforge is rising despite a 44.7% YoY fall in net profit to Rs 114.8 crore due to a provision made by the company in the form of exceptional items worth Rs 52 crore. Revenue for the company has grown 24.5% YoY, with the total order book rising 21% in Q4.

• HDFC Securities maintains its ‘Buy’ rating on Persistent Systems and raises its target price to Rs 5,880 from Rs 5,820, indicating an upside of 28.4%. The brokerage states that the company is its top pick among mid-tier IT stocks, given its strong order book, consistency in winning large deals, improved client mining and operational efficiencies.

• Indus Towers’ Q4FY23 net profit dips 23.5% YoY to Rs 1,399.1 crore, while its revenue drops 5.1%. The company has made additional provisions worth Rs 43 crore towards Vodafone Idea, taking cumulative provisions to Rs 5,453 crore on account of doubtful receivables. Indus Towers has fallen 9% in the past three months.

• Sachin Titekar, Joint Managing Director of KPIT Technologies, says the company’s revenue will grow 27-30% and its EBITDA margin will be 19-20% in FY24. He adds that the company targets to improve its margins to over 20% in the coming years.

  KPIT says
  
  ????FY24 Rev guidance of 27-30%, H2FY24 likely to be soft vs H1FY24
  
  ????Aim is take margins to 20%+ in coming years
  
  ????Headcount expected to grow 20-25% in FY24#StockMarket
  
  pic.twitter.com/1RjCGDqQyJ

  — Nigel D'Souza (@Nigel__DSouza) April 27, 2023

• Realty companies like Macrotech Developers, Godrej Properties, Phoenix Mills, Prestige Estates Projects and Sobha are rising in trade. The broader sectoral index Nifty Realty is also trading in the green.

• Syngene International is rising as its Q4FY23 net profit increases by 20.9% YoY to Rs 178.7 crore while its revenue grows by 31.2% YoY. The stock shows up in a screener for companies with net profit increasing sequentially for the past three quarters.

• Mahindra Logistics, Tanla Platforms and Voltas see a QoQ fall in net profit growth after declaring their Q4FY23 results in the past week.

• L&T Technology Services is rising as its Q4FY23 net profit increases 18% YoY to Rs 309.6 crore. Revenue has increased across all segments, taking total growth to 19%. Amit Chadha, MD & CEO, says that the company targets revenue growth of 20% for FY24. The stock is up 5% in trade.

• JP Morgan maintains its ‘Overweight’ rating on Bajaj Finance with a target price of Rs 9,000. The brokerage says the company’s NIMs are stable on a QoQ basis in spite of high funding costs. Its AUM has grown 29% YoY.

  Brokerage Radar | @jpmorgan on @Bajaj_Finance: Maintain Overweight; Asset quality continues to be solid #JPMorgan#BajajFinance#StockMarketpic.twitter.com/BunfCe5T5Y

  — ET NOW (@ETNOWlive) April 27, 2023

• City Union Bank surges after it reappoints N Kamakodi as the Managing Director and Chief Executive Officer, with effect from May 1, 2023.

• Ipca Laboratories is falling after the US FDA issued a Form 483 with three observations for its Silvassa facility. The stock has touched its 52-week low in the past week.

• SBI Life Insurance is rising as its Q4FY23 net profit increases 15.6% YoY to Rs 776.8 crore. The company’s new business premium has grown 16% YoY in FY23 and the product mix improved for participating and non-participating products. The stock is trading above its second resistance or R2 level.

• Bajaj Finance’s Q4FY23 net profit rises 30.5% YoY to Rs 3,157.7 crore. The NBFC’s total loans and assets under management have grown more than 20% and net interest income also rose 28% YoY to Rs 7,771 crore. It shows up in a screener of stocks with high TTM EPS growth.

Riding High:

Largecap and midcap gainers today include L&T Technology Services Ltd. (3,731.00, 8.24%), Vodafone Idea Ltd. (6.90, 5.34%) and Tata Elxsi Ltd. (6,578.20, 4.57%).

Downers:

Largecap and midcap losers today include Voltas Ltd. (808.40, -5.41%), Laurus Labs Ltd. (292.05, -2.65%) and HDFC Life Insurance Company Ltd. (517.85, -2.59%).

Volume Shockers

30 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Mangalore Refinery And Petrochemicals Ltd. (60.95, 11.43%), L&T Technology Services Ltd. (3,731.00, 8.24%) and Alok Industries Ltd. (12.70, 7.17%).

Top high volume losers on BSE were Voltas Ltd. (808.40, -5.41%), Laurus Labs Ltd. (292.05, -2.65%) and UTI Asset Management Company Ltd. (657.30, -1.31%).

Network 18 Media & Investments Ltd. (58.90, 7.09%) was trading at 14.6 times of weekly average. Star Cement Ltd. (115.85, 3.53%) and Shoppers Stop Ltd. (644.50, 4.41%) were trading with volumes 9.1 and 8.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks hit their 52-week highs, while 4 stocks hit their 52-week lows.

Stocks touching their year highs included - Bajaj Auto Ltd. (4,408.20, 2.54%), Carborundum Universal Ltd. (1,057.75, -0.84%) and Cholamandalam Investment & Finance Company Ltd. (854.40, 1.92%).

Stocks making new 52 weeks lows included - PVR Ltd. (1,458.80, 0.63%) and Aavas Financiers Ltd. (1,400.90, -2.37%).

12 stocks climbed above their 200 day SMA including Mangalore Refinery And Petrochemicals Ltd. (60.95, 11.43%) and L&T Technology Services Ltd. (3,731.00, 8.24%). 7 stocks slipped below their 200 SMA including Lupin Ltd. (693.75, -1.97%) and Shyam Metalics and Energy Ltd. (293.70, -1.33%).

Trendlyne Analysis

Nifty 50 closed at 17,813.60 (44.4, 0.3%), BSE Sensex closed at 60,300.58 (169.9, 0.3%) while the broader Nifty 500 closed at 14,994.40 (38.7, 0.3%). Of the 1,948 stocks traded today, 1,012 were gainers and 861 were losers.

Nifty 50 rose over 100 points from its day’s low and closed above the 17,800 mark on a volatile day of trade. Indian indices closed in the green for a third straight trading session. Maruti Suzuki closed marginally higher after its Q4FY23 net profit rose by 42.7% YoY to Rs 2,623.6 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Realty and Nifty FMCG closed higher than Tuesday’s closing level. The fertilizers sector was the top-performing sector of the day as it rose over 3%, according to Trendlyne’s sector dashboard. Nifty IT closed in the green, taking cues from the tech-heavy Nasdaq futures, which traded sharply higher.

All major European indices traded in the red amid mixed global cues. Most Asian indices closed in the red, except for India’s BSE Sensex and Hong Kong’s Hang Seng index, which closed in the green. US indices futures traded higher. Brent crude oil futures traded in the green after falling over 2% on Tuesday.

• Mankind Pharma’s Rs 4,326.4 crore IPO gets bids for 87% of the available 2.8 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 25% of the available 1.4 crore shares on offer.

• Nestle India beats Tata Consumer Products in YoY & QoQ revenue and profit growth, one-year price change and annual RoE. But lags in PE ratio, FII & MF holdings and broker average rating.

• CSB Bank and Glenmark Pharmaceuticals reach their 52-week highs of Rs 295 and Rs 522.5 per share respectively. CSB Bank has risen 22.8% over the past month, while the other went up 22.6%.

• Dalmia Bharat is rising as it enters a definitive agreement with Jaiprakash Associates for the acquisition of JP Super and Bhilai Jaypee Cement. The company will acquire JP Super at Rs 1,500 crore while it has a share purchase agreement for the acquisition of a 74% stake in Bhilai Jaypee Cement for Rs 666 crore.

• Maruti Suzuki’s standalone Q4FY23 net profit rises 42.7% YoY to Rs 2,623.6 crore as revenue increases 21%. Cost of materials has fallen 8% YoY in Q4. The company has also announced a capacity addition of 10 lakh units at Manesar and Gurugram, along with a dividend of Rs 90 per share for FY23.

• Nifty Realty, Nifty PSU Bank and Nifty Bank have risen more than 8% in the past month.

• KPIT Technologies is rising as its Q4FY23 net profit rises 41.5% YoY to Rs 111.6 crore and revenue jumps 56.1% YoY. This robust performance is driven by healthy revenue growth in the European and American market segments despite the macroeconomic headwinds impacting those regions. The stock shows up in a screener for companies with quarterly revenues increasing sequentially for the past eight quarters.

• Poonawalla Fincorp’s Q4FY23 net profit rises 67% YoY to Rs 198.5 crore. The NBFC has declared a dividend of Rs 2 per share for FY23. The stock is trading near its 52-week high with significant volumes.

• Indian Sugar Mills Association (ISMA) revises India’s sugar production estimate to 328 lakh tonnes for the current marketing year (October-September), from the earlier estimate of 340 lakh tonnes.

  The downward revision has been made due to a fall in #sugaroutput in #Maharashtra to 105 lakh tonnes in the 2022-23 marketing year from an earlier projection of 121 lakh tonneshttps://t.co/MwhJeW46uf

  — Financial Express (@FinancialXpress) April 26, 2023

• KEC International is rising as it bags new orders worth Rs 1,017 crore across transmission & distribution, civil and cables segments. The stock is trading above its first resistance or R1 level.

• Fertilizer stocks like Gujarat State Fertilizer & Chemicals, Gujarat Narmada Valley Fertilizers & Chemicals and Chambal Fertilisers & Chemicals are rising in trade. The overall Fertilizer sector is also trading in the green.

• Welspun India, Shriram Finance and Indian Hotels Co rise 5.8%, 4.2% and 3.2% respectively in the past week, ahead of their Q4FY23 results tomorrow.

• Gland Pharma is rising as promoter Fosun Pharma Industrial drops plans of selling its stake in the company, according to reports. Fosun Pharma currently holds a 57.86% stake in Gland Pharma.

• Rating agency S&P Global Ratings upgrades its rating on Tata Motors to ‘BB’ from ‘BB-’, with a stable outlook and improvement in earnings. S&P expects the company’s cash flow to strengthen in the next 12-18 months.

  #NewsFlash | S&P upgrades Tata Motors to BB; outlook stable pic.twitter.com/QhJEoYY9Ga

  — CNBC-TV18 (@CNBCTV18Live) April 25, 2023

• ICICI Securities maintains its ‘Buy’ rating on Crompton Greaves Consumer Electricals but lowers its target price to Rs 325 from Rs 495, which implies an upside of 29.3%. The brokerage cites the expectation of muted demand for consumer durables in FY24 for cutting its target price. However, it remains optimistic about the firm’s prospects given its strong brand value and distribution network.

• Nippon Life India Asset Management is rising after reporting a 13% YoY increase in its Q4FY23 net profit to Rs 198 crore. Its AUM rises 3.5% YoY and market share grows 14 bps YoY to 7.24%. It shows up in a screener of stocks with improving revenue for the past two quarters.

• ACC, Hindustan Unilever and MPhasiS fall 1%, 1.6% and 1.3% respectively over the past week, ahead of their Q4FY23 results tomorrow.

• IndiaMART InterMESH will consider issuing bonus shares in its upcoming board meeting on Friday. The company will also announce its Q4 results on the same day.

• Sumant Kathpalia, Managing Director and CEO of IndusInd Bank, expects net interest margins (NIMs) to be in the range of 4.2-4.3%. He adds that the bank will be able to maintain loan book growth of 18-23%.

  Earnings With ET NOW | Steady Q4 for IndusInd Bank
  
  Sumant Kathpalia, MD & CEO of the company, shares his thoughts on asset quality, deposit growth, outlook on margins and more @nikunjdalmia@avannedubash@_anishaj@MyIndusIndBank#IndusIndBankhttps://t.co/fdwDtaIypi

  — ET NOW (@ETNOWlive) April 26, 2023

• Dalmia Bharat's net profit rises 125% YoY to Rs 609 crore in Q4FY23. Revenue grows 15.7% YoY aided by a 13.3% YoY increase in sales volume. Mahendra Sanghi, MD & CEO of the company, expects profits to further improve on the back of a strong demand outlook and steady cement prices.

• Multi Commodity Exchange of India, Au Small Finance Bank and 360 One Wam are trading below their third support or S3 level.

• AU Small Finance Bank’s Q4FY23 net profit rises 22.7% YoY to Rs 424.6 crore. Net interest income also increases 30%. Asset quality has improved with gross and net NPAs falling 32 bps and 8 bps YoY respectively. The stock is currently trading below its third support or S3 level.

• Aditya Birla Capital is rising as reports suggest that 2.6 crore shares (1.08% equity) of the company, amounting to Rs 416.4 crore, change hands in a block deal.

  AB Capital Large Trade | 2.6 Cr shares (1.08% equity) worth ?416.4 cr change hands in block deal window pic.twitter.com/Uo9U9IzyaT

  — CNBC-TV18 (@CNBCTV18Live) April 26, 2023

• Patel Engineering rises as it wins orders with its joint venture partner for Krishna Marathwada Irrigation Project and Krishna Marathwada Irrigation Project from the Water Resources Department, Government of Maharashtra. The company's share for the two projects is worth Rs 451.28 crore.

• Mahindra CIE Automotive is rising as its Q4FY23 net profit surges by 72.9% YoY to Rs 279.1 crore while its EBITDA margin expands by 160 bps YoY. The company’s revenue increases 18.4% YoY, led by healthy growth across its geographical segments. It shows up in a screener for stocks with high consistent returns over the past five years.

• Tata Consumer Products is falling despite a 23.5% YoY rise in net profit to Rs 268.59 crore in Q4FY23. The company’s revenue has also increased by 14% as both Indian and international businesses grew. Sunil D’Souza, MD and CEO of the company, says it has managed to balance margins in a volatile macro environment in FY23.

• Bajaj Auto’s Q4FY23 net profit rises 11.7% YoY to Rs 1,704.7 crore while revenue increases 12% YoY. The company states that a better product mix, strategic pricing and improved forex realisations offset the drop in overall sales volume driven by declining exports. The stock shows up in a screener for companies with no debt.

Riding High:

Largecap and midcap gainers today include NHPC Ltd. (44.30, 5.23%), Vodafone Idea Ltd. (6.55, 3.97%) and Indus Towers Ltd. (143.00, 3.62%).

Downers:

Largecap and midcap losers today include Ipca Laboratories Ltd. (701.40, -5.36%), Vedant Fashions Ltd. (1,246.80, -4.58%) and Crompton Greaves Consumer Electricals Ltd. (252.55, -2.66%).

Volume Rockets

33 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gujarat State Fertilizer & Chemicals Ltd. (153.30, 19.95%), Gujarat Alkalies & Chemicals Ltd. (733.50, 17.21%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (587.00, 10.55%).

Top high volume losers on BSE were Multi Commodity Exchange of India Ltd. (1,394.45, -6.26%), Ipca Laboratories Ltd. (701.40, -5.36%) and Rallis India Ltd. (191.10, -4.07%).

Gujarat State Petronet Ltd. (284.60, 7.15%) was trading at 33.8 times of weekly average. MMTC Ltd. (32.70, 9.00%) and Mahindra CIE Automotive Ltd. (385.00, 7.32%) were trading with volumes 31.3 and 18.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks hit their 52-week highs, while 8 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - CCL Products India Ltd. (590.15, 3.25%), Glenmark Pharmaceuticals Ltd. (521.25, 0.60%) and Nestle India Ltd. (21,026.25, 1.75%).

Stocks making new 52 weeks lows included - Ipca Laboratories Ltd. (701.40, -5.36%) and PVR Ltd. (1,449.65, -1.96%).

12 stocks climbed above their 200 day SMA including Gujarat State Fertilizer & Chemicals Ltd. (153.30, 19.95%) and KIOCL Ltd. (196.25, 2.40%). 9 stocks slipped below their 200 SMA including Multi Commodity Exchange of India Ltd. (1,394.45, -6.26%) and Vedant Fashions Ltd. (1,246.80, -4.58%).