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The Baseline created a screener OR Parameter in example …
07 Feb 2023
Shows how the OR parameter behaves in a filter without brackets. Without brackets, OR applies to all the parameters used after it.
 
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The Baseline created a screener OR Parameter in example …
07 Feb 2023
Shows how the OR parameter behaves in a filter with brackets. We use brackets here to stop the OR filter from making the rest of the query optional.
 
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Trendlyne Marketwatch
06 Feb 2023
Market closes lower, ICICI Securities upgrades rating on Mahindra Lifespace to ‘Buy’ from ‘Add’

Trendlyne Analysis

Indian indices closed in the red on a volatile day of trade. The Nifty 50 fell nearly 90 points and closed below the 17,800 mark. The Adani group’s stocks extended their sell-off today after rating agency Moody's warned on Friday that the group may struggle to raise capital, and S&P cut its outlook on two group companies. The Adani group is looking to prepay its debt of Rs 7,000-8,000 crore from its loans against shares (LAS) portfolio to calm the sell-off in its share prices.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, despite the benchmark index closing lower. BSE Telecom index rose sharply, led by Vodafone Idea, which jumped over 20% as the Centre directed the company to convert interest due on deferred spectrum auction installments and revenue dues into equity for approximately Rs 16,113.2 crore.

Major Asian indices closed in the red - Chinese stocks were down after the US shot down what it said was a Chinese spying balloon in American skies. The sole exceptionwas Japan’s Nikkei 225, which closed higher for a third consecutive day amid expectations that the Bank of Japan will maintain its extremely accommodative monetary policy.

European markets tradelower, taking cues from US indices’ futures. Investors assess key central bank decisions, strong US job additions and corporate earnings. Crude oil pricestrade higher after falling over 7% in the previous week on fears of slowing global economic growth.

Nifty 50closed at 17,764.60 (-89.5, -0.5%), BSE Sensexclosed at 60,506.90 (-335.0, -0.6%) while the broader Nifty 500closed at 14,934.15 (-28.2, -0.2%)

Market breadth is in the green. Of the 1,975 stocks traded today, 1,040 were on the uptrend, and 873 went down.

  • Money flow index(MFI) indicates that stocks like Ratnamani Metals & Tubes, ITC, Persistent Systemsand Jindal Stainlessare in the overbought zone.

  • Britannia Industries beats Tata Consumer Products in YoY and QoQ net profit growth, PE Ratio and one-year price change. But it lags in price-to-book value, three-year price change, QoQ revenue growth and broker average target upside.

  • Asian Paintssees seven broker target price and one recommendation downgradesin the past month, while Bajaj Finance, Avenue Supermartsand Bandhan Bank see five broker target price downgrades.

  • Credit rating agency Fitch Ratings expects Indian banks’ net interest margin (NIM) to contract slightly by around 10 bps in FY24 amid deposit rate hikes taken by the banks.

  • Easy Trip Planners is rising as its Q3FY23 net profit rises 4.2% YoY to Rs 41.7 crore and revenue surges by 57.3% YoY driven by robust volume growth in the flight and hotels segments. The stock shows up in a screener for companies with zero promoter pledges.

  • Commercial Services & Supplies, Utilities and Transportation sectors fall more than 15% over the past month.

  • Rakesh Khanna, Managing Director & CEO of Orient Electric, says e-commerce contributes 10% to the total sales of the company and expects it to improve to 20% in a year. He adds that the company focuses on products with high growth potential.

  • ICICI Securities upgrades its rating on Mahindra Lifespace Developers to ‘Buy’ from ‘Add’ and increases the target price to Rs 483 from Rs 461. This implies an upside of 21.5%. The brokerage anticipates the company’s sales growth momentum to accelerate on the back of new project launches and a robust business development pipeline.

  • Indian Oil Corp decides to ink a memorandum of understanding with LanzaJet to produce sustainable aviation fuel at its Panipat refinery, according to reports.

  • One97 Communications (Paytm) is rising as its Q3FY23 net loss narrows on a YoY basis to Rs 392 crore from Rs 778.4 crore. Revenue rises 41.6% YoY on the back of growth in merchant subscriptions, loan distribution and payment services. The stock shows up in a screener for companies with revenues increasing sequentially over the past four quarters

  • Varun Beverages' Q3FY23 net profit rises 353.28% YoY to Rs 74.8 crore in a seasonally weak quarter, while its revenue increases 27.9% YoY. Realisation per unit improves with price hikes, rationalised discounts & incentives and improved product mix. The stock shows up in a screener for companies with consistent high returns over five years.

  • Timken India, Relaxo Footwears and VIP Industries are trading below their third support or S3 level as the market trades lower.

  • Metal stocks like Adani Enterprises, Jindal Steel & Power, Hindustan Zinc and JSW Steel are falling in trade. The broader sectoral index Nifty Metal is also trading in the red.

  • InterGlobe Aviation's Q3FY23 net profit rises close to 11x to Rs 1,422.6 crore and revenue grows 62.6%. The strong performance is a result of robust demand for air travel, says Pieter Elbers, Chief Executive Officer. The stock shows up in a screener for companies with FII/FPI or Institutions increasing their shareholding.

  • Retail sales of the automotive industry rise 13.6% YoY to 18.3 lakh units in January, shows data from the Federation of Automotive Dealers' Association. Two-wheeler and car retail sales are up 10.1% and 21.9% YoY respectively.

  • Telecom stocks like Vodafone Idea, Indus Towers, GTL Infrastructure, Reliance Communications and Tata Communications are rising in trade. The broader sectoral index S&P BSE Telecom is also trading in the green.

  • Vodafone Idea surges as the government converts adjusted gross revenue dues of the company into equities for approx Rs 16,113.2 crore.

  • Indian rupee depreciates to 82.41 from the previous close of 81.83 against the US dollar in early trade today.

  • ITC's Q3FY23 net profit rises 23.4% YoY to Rs 5,006.6 despite its revenue falling 2.6% YoY. The increase is due to a 60.5% fall in purchases of stock-in-trade expense. The stock shows up in a screener for companies with increasing net profits sequentially for the past four quarters.

  • State Bank of India’s Q3FY23 net profit rises 68.5% YoY to Rs 14,205.3 crore on the back of healthy credit expansion and robust net interest income (NII) growth. Revenue increases by 24.3% YoY led by strong growth in retail and corporate banking operations. The stock shows up in a screener for companies with quarterly net profit growth and increasing net profit margin YoY.

  • Tata Power’s Q3FY23 net profit jumps 121.9% YoY to Rs 945 crore and revenue rises 29.5% YoY. This growth is driven by improved realisation, higher power generation and increased distribution sales. The stock shows up in a screener for companies with net profits rising sequentially for the past four quarters.

Riding High:

Largecap and midcap gainers today include Vodafone Idea Ltd. (8.25, 20.44%), Indus Towers Ltd. (162.05, 12.81%) and Adani Ports & Special Economic Zone Ltd. (545.45, 9.34%).

Downers:

Largecap and midcap losers today include Adani Transmission Ltd. (1,256.45, -10.00%), Adani Power Ltd. (182.35, -5.00%) and Adani Wilmar Ltd. (379.95, -5.00%).

Movers and Shakers

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

Top high volume gainers on BSE included Vodafone Idea Ltd. (8.25, 20.44%), Procter & Gamble Health Ltd. (4,702.70, 14.63%) and Elgi Equipments Ltd. (412.35, 8.31%).

Top high volume losers on BSE were Privi Speciality Chemicals Ltd. (908.45, -7.07%), Multi Commodity Exchange of India Ltd. (1,425.15, -5.56%) and Mahindra Logistics Ltd. (430.15, -3.45%).

Zydus Lifesciences Ltd. (470.15, 8.17%) was trading at 8.5 times of weekly average. Anupam Rasayan India Ltd. (602.90, 4.48%) and Mahindra & Mahindra Financial Services Ltd. (261.85, 7.49%) were trading with volumes 6.2 and 5.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks hit their 52-week highs, while 14 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Zydus Lifesciences Ltd. (470.15, 8.17%), Carborundum Universal Ltd. (999.05, 0.77%) and IDFC Ltd. (91.55, 3.39%).

Stocks making new 52 weeks lows included - Adani Transmission Ltd. (1,256.45, -10.00%) and BASF India Ltd. (2,315.85, -1.31%).

22 stocks climbed above their 200 day SMA including Procter & Gamble Health Ltd. (4702.70, 14.63%) and Cholamandalam Financial Holdings Ltd. (629.95, 4.89%). 14 stocks slipped below their 200 SMA including Poly Medicure Ltd. (827.50, -4.11%) and LIC Housing Finance Ltd. (388.20, -2.88%).

 
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The Baseline
03 Feb 2023
Five Interesting Stocks Today
  1. KPIT Technologies: This IT consulting & software company reached its all-time high of Rs 813 per share on Wednesday after posting strong net profit growth of 20.4% QoQ to Rs 100.5 crore in Q3FY23. Growth from the UK & Europe and rest of the world (ROW) markets aided an improvement in the company’s revenue by 23.2% QoQ to Rs 917.1 crore. As a result, it features in a screener of stocks with increasing revenue for the past eight quarters. Both revenue and net profit beat Trendlyne’s Forecaster estimates by 4.2% and 5% respectively.

The rise in revenue in Europe comes after KPIT’s subsidiary, KPIT Technologies GmbH acquired four companies under the Technica Group for a total consideration of Rs 640 crore on September 21, 2022. Additionally, a leading European OEM selected KPIT as its key partner for next-generation electronic control units (ECU) while Renault Group selected KPIT as a strategic technology partner on November 23, 2022.

As a result, revenue from UK & Europe rose 48.2% QoQ in Q3, despite a broad economic slowdown in the region. Kishor Patil, Co-founder, Chief Executive Officer (CEO) and Managing Director of the company commented, “Q3FY23 has been better than expectations. Our performance gives us confidence in beating our FY23 growth outlook.”

The stock ranks high in Trendlyne’s checklist with a score of 78.3%. However, the company has a high trailing twelve-month or TTM PE ratio of 60.4 against the industry PE average of 29.6. Because of the high PE ratio compared to its historical levels, the company features in the PE sell zone.

  1. Britannia Industries: This FMCG stock’s Q3FY23 net profit surged 2.5X YoY to Rs 932.4 crore. The surge in net profit was because of an exceptional gain reported by the company. The gain amounted to Rs 359 crore (net of tax) and was received by selling a stake in Britannia Dairy to Bel SA. As inflation moderated, the company’s operating margin improved by 447 bps YoY to 18.14%. Price hikes also helped in the growth of margins. The management plans to continue with gradual price hikes in the coming quarters. It also expects the partnership with Bel SA to drive sales in the under-penetrated cheese market. Net sales for the company grew 16.2% YoY to Rs 4,101.5 crore on new product launches, growing customer franchise and market share gains.

The stock was trading near its 52-week high before touching an all-time high of Rs 4,596 in a volatile market today. Removing the exceptional gains from the net profit, Britannia beats Trendlyne’s Forecaster estimates by 21.6%. It shows up in screeners of stocks with increasing revenue and profit for the past two quarters. It also is in a screener of stocks with strong momentum growth.

Foreign brokerage Jefferies has maintained a ‘Buy’ on the stock as its margin growth beat expectations on low input prices and raw material inventory. It has upgraded its target price by 14.4% to Rs 5,000. ICICI Securities maintains its ‘Add’ rating and expects its revenue CAGR to grow by 13% over FY22-24E. The outlook for the FMCG sector looks good as the Centre’s relief for the middle class in the Union Budget 2023-24 is likely to improve customer demand.

  1. AIA Engineering: This other industrial goods manufacturer’s stock rose 12.4% over the past week till Thursday, on account of its Q3FY23 results beating the street’s expectations. The company’s net profit and revenue beat Trendlyne’s Forecaster estimates by 64.9% and 5.8%, respectively. Its net profit jumped more than 2.5X YoY to Rs 352.5 crore on the back of higher realisations, strong sales volumes and falling raw material and power & fuel costs. Only freight expenses increased YoY, which the company was able to pass on to its customers.

Cost declines helped the  EBITDA margin surge by 10.8 percentage points YoY to 29.8%. The firm shows up in a screener for stocks in the PE Buy zone with a high durability score and rising momentum.

The company’s volume grew by 23% YoY to 71,439 metric tonnes per annum (mtpa) in Q3, led by a 60% growth in the non-mining segment. Its mining segment saw modest growth of 8% YoY in volumes. ICICI Securities expects demand from the mining sector to increase on the back of capacity expansion and elevated commodity prices. It believes AIA Engineering is well-placed to capitalise on this demand growth, given its technologically superior products. ICICI Securities upgraded its rating on the company to ‘Buy’ from ‘Hold’.

In anticipation of growing demand, the management said it has planned to expand its installed capacity to 5.2 lakh mtpa from 4.4 lakh mtpa. The company has planned a capex of Rs 300 crore, most of which will be utilised towards capacity expansion. However, the management does acknowledge a risk of volatility in commodity prices.

  1. Data Patterns (India): Thedefence and aerospace solution provider released itsQ3FY23 results on 28th January. Data Patterns’ revenue grew by 2.5x YoY and 26.27% QoQ. On account of better execution, gross margins have expanded 140 bps QoQ while EBITDA margins for Q3FY23 were at 42.2% vs. 35.7% in Q3FY22. The order book at the end of Q3FY23 was Rs 888 crore. The company won orders worth Rs 163 crores in January 2023, which has increased the order backlog to Rs 1,014 crore. Development orders comprised 56% of total order backlog inflows as of Q3FY23. The production segment share was pegged at 38% with 6% from the services segment.

The management maintained its FY23-25 revenue guidance of 25-30% growth with a gross margin of 65% and EBITDA margin of 40%. The company is confident of winning orders to the tune of Rs 150-200 crore in Q4FY23. The management expects Rs 2,000-3,000 crore worth of orders in the pipeline for the next three to four years. The stock shows up in thescreener for growth in quarterly net profit and increasing profit margin.

ICICI Securities says Data Patterns has the ability to deliver revenue and PAT CAGR of 29.3% and 28.5% respectively over FY22-25E. However, the stock has run up, limiting further upside given the rich valuations and no room for execution error at such multiples. The brokerage has revised its Buy rating to Hold.

  1. Indian Hotels Company: This hotel company surged over 8% in trade on Wednesday after it announced strong Q3FY23 results. The Finance Minister’s announcement on the Centre’s support for the tourism industry in the Union Budget also added to the rise. The hotels industry rose over 5% in trade on the same day.

The company reported its highest-ever net profit of Rs 383 crore, up 403% YoY in Q3. IHCL also posted strong growth in revenues, up 54% YoY to Rs 1,743.5 crore. Its solid performance was driven by robust demand across markets as well as airline catering. As a result, the company features in a screener of companies that saw growth in net profit with an increasing profit margin (QoQ).

However, the occupancy rate remains below pre-covid levels at 72.1%. On the bright side, the average room rate jumped 25% to Rs 15,456, compared to pre-covid levels, due to a series of price hikes.

Commenting on the company’s strong performance during the quarter, Puneet Chhatwal, Managing Director & CEO of Indian Hotels, said that the demand outlook for the sector in 2023 remains robust with sporting events such as the hockey and cricket world cup, global events like the ongoing G20, and the increase in inbound travel. In 9MFY23, IHCL has added over 30 hotels to the pipeline and has opened 14 hotels, in addition to strong growth in amã Stays & Trails and Qmin.

ICICI Securities is positive about the company’s outlook due to its efforts in leveraging its existing brand equity to focus on new business segments. The brokerage upgraded its rating to ‘Buy’ from ‘Add’ and raised the target price to Rs 399 from Rs 366, implying a potential upside of 25.7%.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations.

 
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The Baseline
03 Feb 2023
Chart of the week: Centre expects fiscal deficit to fall to 5.9% of GDP in FY24
By Abdullah Shah

As global economic growth slows down, India’s GDP growth in FY23 is also expected to slow down to 7% from 8.7% in FY22. GDP growth in FY24 is expected to further reduce, to 6.5%. 

This is important for India’s Budget as the fiscal deficit is expressed as % of GDP. As the GDP estimate is revised downward, the Centre will have to reduce the expenditure to reduce the fiscal deficit.

The fiscal deficit as % of GDP rose to a record high of 9.5% in FY21, and Nirmala Sitharaman, the Finance Minister, had committed to reducing it. In line with the guidance, fiscal deficit as a % of GDP fell to 6.4% in FY23. The centre aims to further lower this to 5.9% of the GDP in FY24 and eventually to 4.5% of the GDP by FY25. 

In order to achieve a lower fiscal deficit in FY24, the government has planned to reduce expenditure on subsidies and pensions while keeping the spending on rural development constant. However, the Centre continues to focus on transport and defence segments as its spending is expected to rise 32.4% and 5.7% in these segments respectively, when compared to FY23 revised estimates. In addition, interest expenditure is also expected to rise 14.8% in FY24. 

Revised estimates of subsidies for food and fertilisers overshot FY23 budgeted amounts as the government had to boost support via free food grains and fertiliser subsidies amid higher commodity inflation. 

In FY24, the government has decided to curb the expenditure on subsidies with an estimated spend of Rs 2 lakh crore on food (-31.3%) and Rs 1.8 lakh crore on fertilisers (-22.2%). The estimated expenditure on pensions has also been marginally reduced to Rs 2.3 lakh crore in FY24 from the revised estimates of Rs 2.4 lakh crore in FY23.

The interest, transport and defence are the segments with the highest estimated expenditure in FY24. These segments contribute to 45.1% of the total estimated expenditure. The Centre has increased the estimated expenditure of interest to Rs 10.8 lakh crore in FY24 from t Rs 9.4 lakh crore in FY23 revised estimates. 

The rise comes on the back of higher requirements for payment of interest on market loans, discount on Treasury Bills, Central Government securities issued by National Small Savings Fund and state provident funds. 

 
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Trendlyne Marketwatch
03 Feb 2023
Market closes higher, ASM move limits losses for Adani stocks

Trendlyne Analysis

Nifty 50 gained momentum in the last leg of the trading session and closed 1.3% higher than Thursday’s closing levels. NSE has put Adani Enterprises, Adani Ports and Ambuja cements in ASM limiting further downside.

India’s services purchasing managers index or PMI data released today indicated the Indian services sector expanded in January but at a slower pace compared to December. PMI stood at 58.5 in December, and 57.2 in January (PMI over 50 signifies expansion). Nifty Smallcap 100 and Nifty Midcap 100 close in the red, despite the benchmark index closing in the green. Nifty Auto and Nifty Bank close higher than Thursday’s levels. Nifty IT closes flat, despite the tech-heavy Nasdaq 100 index closing 3.56% higher on Thursday.

In international markets, S&P 500 and Dow Jones futures trade lower, dragged by Apple, Google and Amazon. US markets are anticipating the labor department’s job report later today. Brent crude oil futures are heading into the first session of weekly loss after gaining in the last two weeks. European indices trade higher.

Nifty 50closed at 17,854.05 (243.7, 1.4%), BSE Sensexclosed at 60,841.88 (909.6, 1.5%) while the broader Nifty 500closed at 14,962.35 (123.0, 0.8%)

Market breadth is in the red. Of the 1,958 stocks traded today, 649 were on the uptrend, and 1,260 went down.

  • Relative strength index(RSI) indicates that stocks like ITC, Ratnamani Metals & Tubes, Persistent Systems and Jindal Stainlessare in the overbought zone.

  • Jubilant Pharmova is falling as it posts a net loss of Rs 15.7 crore in Q3FY23 despite revenue rising by 18.1% YoY. Hari S Bhartia, Managing Director said that the profitability was lower in Q3 due to the generator supply outage, lower API production and low volumes in drug discovery services.

  • PSU Banks like Bank of Baroda, Canara Bank, State Bank of India, Bank of India and Punjab & Sind Bank are rising in trade. The broader sectoral indexNifty PSU Bank is also trading in the green.

  • Divi’s Laboratories falls over 14% in trade as its Q3FY23 net profit declines 66% YoY to Rs 306.8 crore and revenue falls by 31.5% YoY due to a sharp decline in covid revenue. On the other hand, Zydus Lifesciences' Q3 net profit rises 24.5% YoY to Rs 622.9 crore led by robust growth in revenue from the pharmaceuticals segment.

  • Bank of Baroda is up more than 3% in trade today. Its Q3FY23 net profit surges 75.4% YoY to Rs 3,852.7 crore as net interest income rises 26.5%. Asset quality for the bank improves as gross NPA and net NPA ratios fall. The stock ranks high on the Trendlyne Checklist score.

  • Abhijit Roy, Managing Director and CEO of Berger Paints, says demand will pick up and the growth rate will be back to double digits in Q4FY23. The company’s profit declined 20.5% YoY to Rs 207.1 crore in Q3.

  • TeamLease Services' board approves buyback of up to 3.28 lakh fully paid equity shares at Rs 3,050 per share aggregating to Rs 100 crore, subject to shareholder approval.

  • Shree Cements, Samvardhana Motherson International and Cummins rise 10.7%, 4.8% and 2.7% respectively over the past week, ahead of their Q3FY23 results on February 8.

  • Credit rating agency Fitch Ratings says that there will be no immediate impact on rated Adani Group companies as a consequence of the report published by Hindenburg Research. It expects no change in the cash flow forecast.

  • Foreign institutional investors pull out Rs 9,286.5 crore from the equity market over the past week, according to Trendlyne's FII dashboard. Meanwhile, index options receive the highest inflow of Rs 12,542.7 crore from foreign investors. Mutual funds invest a total of Rs 3,386.5 crore in the market.

  • Titan is rising as its Q3FY23 net profit grows by 8.8% QoQ to Rs 904 crore, but falls by 10% YoY. Rise in employee benefit expenses, finance costs and other expenses caused the EBITDA margin to decline by 200 bps QoQ. CK Venkataraman, Managing Director of the company said, "The quarter witnessed strong festive consumer demand and we delivered healthy double-digit growth over a strong base of Q3FY22."

  • Citigroup maintains its ‘Buy’ rating on PB Fintech with a target price of Rs 760. The brokerage says that the company has a low contribution (around 20-25%) of ULIP in its product mix. It adds that the EoM guidelines will reduce the overhang of insurance commission.

  • Axis Direct upgrades its rating on KEC International to ‘Buy’ from ‘Hold’ and increases the target price to Rs 515 from Rs 405. This indicates an upside of 9.2%. The brokerage turns optimistic about the company’s prospects on the back of robust order inflows, proven execution prowess and a well-diversified order book. It expects the firm’s revenue to grow at a CAGR of 12.7% over FY23-25.

  • Commodity trading & distribution, marine port & services and utilities (non-electrical) industries fall more than 31% in the past week.

  • TVS Motor Co’s arm TVS Motor (Singapore) is set to acquire 31.4 lakh series AA shares in the electric mobility company Ion Mobility for $9.5 million (Rs 77.9 crore). The company believes this investment will increase its presence in the electric vehicle market in South-East Asia.

  • India’s January Services PMI falls to 57.2 compared to 58.5 in December 2022 but remains above the 50 mark for the 18th consecutive month.

  • NSE places Adani Enterprises, Adani Ports and Ambuja Cements under short-term additional surveillance measures (ASM). Under the ASM list stocks are surveyed on concerns of price, volume variation or volatility. Reports suggest that Adani Enterprises was removed from the Dow Jones Sustainability Index.

  • Tata Consumer Products’ Q3FY23 net profit is up 32.7% YoY to Rs 351.8 crore, led by healthy growth in its India business segment. Revenue increases 8.3% YoY on the back of strong growth in the food segment from both pricing and volume growth. Sunil D’Souza, Managing Director and CEO of Tata Consumer Products said “We delivered strong earnings growth this quarter...in an extremely challenging macroeconomic environment.”

  • SBI Life Insurance's management says that its share of the business of non-linked policies with a premium above Rs 5 lakh is less than 2% of APE for 9MFY23 and the new policies of the Union Budget are unlikely to cause a significant impact. However, HDFC Life has an exposure of 10-12% of its total APE for non-linked products. According to the Union Budget, non-linked products with a premium above Rs 5 lakh will now be taxable.

  • Dabur is falling as its Q3FY23 net profit is down by 5.4% YoY to Rs 475.94 crore. CEO Mohit Malhotra says that cost and inflationary environment, especially in rural areas have dented the earnings. Raw material cost for the company rose 6.2% YoY in Q3. Revenue is up as all segments like consumer care, food and retail report growth.

  • Apollo Tyres’ Q3FY23 net profit rises 30.7% YoY to Rs 292.1 crore and revenue grows by 12.5% YoY to Rs 6,422.8 crore on the back of robust sales in the domestic market. The stock shows up in a screener for companies with net profits increasing sequentially over the past two quarters.

Riding High:

Largecap and midcap gainers today include Adani Ports & Special Economic Zone Ltd. (498.85, 7.87%), Titan Company Ltd. (2,463.10, 6.72%) and Bank of Baroda (163.60, 6.20%).

Downers:

Largecap and midcap losers today include Divi's Laboratories Ltd. (2,884.35, -11.71%), Adani Transmission Ltd. (1,396.05, -10.00%) and Adani Green Energy Ltd. (935.90, -10.00%).

Movers and Shakers

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

Top high volume gainers on BSE included Mahindra Lifespace Developers Ltd. (380.05, 8.80%), Aavas Financiers Ltd. (1,998.65, 7.37%) and EPL Ltd. (152.75, 3.35%).

Top high volume losers on BSE were Divi's Laboratories Ltd. (2,884.35, -11.71%), Crompton Greaves Consumer Electricals Ltd. (305.15, -8.18%) and Welspun Corp Ltd. (192.15, -7.91%).

Jamna Auto Industries Ltd. (108.15, 3.15%) was trading at 6.5 times of weekly average. eClerx Services Ltd. (1,495.90, 2.97%) and Jubilant Pharmova Ltd. (343.65, -1.28%) were trading with volumes 4.4 and 4.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks made 52-week highs, while 28 stocks hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (367.20, 2.38%), Apollo Tyres Ltd. (330.20, -0.38%) and Blue Star Ltd. (1,358.25, 2.14%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,926.75, 4.64%) and Adani Ports & Special Economic Zone Ltd. (498.85, 7.87%).

15 stocks climbed above their 200 day SMA including Titan Company Ltd. (2,463.10, 6.72%) and Orient Electric Ltd. (283.10, 4.00%). 22 stocks slipped below their 200 SMA including Hindustan Copper Ltd. (107.50, -7.80%) and Hikal Ltd. (330.40, -6.07%).

 
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The Baseline
02 Feb 2023
Screener of the week: Adani group companies with high pledged shares by promoters
By Abdullah Shah

As Adani Group stocks rocket downward, we take a look at the implications for their pledged shares by promoters. This screener looks at Adani Group stocks’ promoter holding pledges and annual debt-equity ratio.

Adani Group has pledged 100% of their stake as promoters of Ambuja Cements. The cement & cement products company has a high forward PE ratio of 50X, which is higher than its current PE. Analysts forecast its profits falling by 20% YoY in FY23. 

The group has also pledged 25% of their stake in Adani Power. In Q3FY23, the promoters pledged an additional 14.1% of their shares in this electric utilities company. It has the second-highest annual debt-to-equity ratio of 8.9X among listed Adani group companies.

Adani Transmission has a promoters pledge ratio of 6.6%. The electric utilities company stands a risk of seeing more of its promoter holding being pledged to lenders, as it has fallen over 35% over the past week. 

Adani Green Energy is also at risk of seeing more promoter pledges due to its recent crash of 36% till January 31. This player has the highest annual debt-to-equity ratio of 43.9 among Adani group companies, and its return on capital (ROCE) is nearly half of its sector average.  

You can find some popular screenershere.

 
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Trendlyne Marketwatch
02 Feb 2023
Market closes flat, HDFC's Q3FY23 net profit rises 13.2% YoY to Rs 3,690.8 crore

Trendlyne Analysis

Nifty 50 closed flat recovering from the day’s low on a volatile day of trade. However, other major Asian indices closed in the green except for China’s Han Seng index, which closed lower. European indices traded in the green amid positive global cues. In a major surprise, Adani Enterprises called off its fully subscribed Follow on Public Offer (FPO). Adani Enterprises' FPO floor price was fixed at Rs 3,112 and Adani Enterprises stock closed on Wednesday at Rs 1,921. On Wednesday, US stocks closed higher after the Fed’s widely expected rate hike of 25 bps. S&P 500 closed 1.05% higher, while the Dow Jones closed flat on Wednesday. Brent crude oil futures traded in the green and are heading into a third straight weekly gain.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty FMCG and Nifty Media closed higher than Wednesday’s closing levels. Nifty IT closed in the green, taking cues from the tech-heavy Nasdaq 100 closing 2.2% higher on Wednesday.

Nifty 50closed at 17,610.40 (-5.9, 0.0%), BSE Sensexclosed at 59,932.24 (224.2, 0.4%) while the broader Nifty 500closed at 14,839.40 (-8.3, -0.1%)

Market breadth is in the red. Of the 1,957 stocks traded today, 853 were in the positive territory and 1,045 were negative.

  • Hindustan Unileverbeats Godrej Consumer Productsin YoY revenue and profit growth, one-year price change and MF holdings. But lagsin QoQ revenue growth, PE ratio and broker average rating.

  • Max Healthcare’s Q3FY23 net profit rises 17.2% YoY to Rs 222.4 crore and revenue grows by 16.9% YoY. This growth is driven by improving occupancy rates and average revenue per occupied bed. The stock shows up in a screenerfor companies with high TTM EPS growth.

  • Reports suggest that InterGlobe Aviation (Indigo) is likely to post a profit in Q3FY23 as air traffic improves for both international and domestic travel. Also, the correction in oil prices and price hikes may drive an earnings boost for the airline, which announces results tomorrow. It ranks high on the Trendlyne checklist score and shows up in a screener of stocks with consistent price growth.

  • Zydus Wellness is falling as its Q3FY23 net profit declines 16.1% YoY with rising cost of raw materials YoY. Revenue rises 7.1% YoY to Rs 415.6 crore. The stock shows up in a screener for companies with declining net cash flows.

  • HDFC trades lower in a weak market. Its Q3FY23 net profit rises 13.2% YoY to Rs 3,690.8 crore, with net interest income up by 13%. Total assets under management grew with individual loan books rising by 18% YoY. The management says that demand for home loans remains decent with growth in both the mid-income and high-end properties segment.

  • Shashank Srivastava, Senior Executive Officer (Marketing & Sales) of Maruti Suzuki, says production levels will depend on the availability of semiconductors and expects the shortage to continue. He adds that softening of commodity prices has helped improve earnings in Q3, and the trend is likely to continue in Q4.

  • JK Cement, Balaji Amines and Tata Steel's weekly average delivery volumes rise ahead of their Q3FY23 results on Monday.

  • Metal & Mining stocks like Jindal Steel & Power, Adani Enterprises, Tata Steel, MOIL and Vedanta are falling in trade. The broader sectoral index Nifty Metal is also trading in the red.

  • Kalpataru Power Transmissions secures new orders across segments worth Rs 2,456 crore. It wins orders in residential & building construction, railway and oil & gas in India. It has also bagged transmission & distribution orders in India and overseas.

  • Ion Exchange (India) receives a letter of award from Indian Oil Corp worth Rs 726.13 crore for work, operation and maintenance of a water treatment plant as part of the Panipat refinery expansion project.

  • ICICI Direct upgrades its rating on GAIL India to ‘Buy’ from ‘Hold’ and raises the target price to Rs 115 from Rs 95. This indicates an upside of 21.1%. The brokerage is positive about the company’s prospects as it expects an increase in gas transmission and trading volumes along with a decline in gas prices. It anticipates the firm’s revenue to grow at a CAGR of 19.9% over FY22-25.

  • In a video address, Gautam Adani, Chairman of Adani Group, said that the decision to call off the Adani Enterprises’ Rs 20,000 crore FPO was due to heightened volatility in the market, and to "protect the interest of its investors". He added that they would be reviewing their capital market strategy once prices stabilize.

  • RailTel Corp is rising on a work order win from the State Bank of India for providing 4G connectivity for offsite ATMs, over five years. The cost of the project is Rs 253.35 crore. The company shows up in a screener of broker upgrades in the past three months.

  • FMCG stocks like ITC, Britannia Industries, Radico Khaitan and Hindustan Unilever are rising in trade. The broader sectoral index Nifty FMCG is also trading in the green.

  • B Thiagarajan, Managing Director of Blue Star, says the Budget announcements favour the industry. He says the company will focus on expanding its margin in FY24.

  • Ashok Leyland is rising as its Q3FY23 net profit jumps by 362.5% YoY to Rs 319 crore and revenue surges 56.2% YoY. This growth comes on the back of a strong jump in sales volume. Medium and heavy commercial vehicle sales volume increases 69% YoY and light commercial vehicles sales volume by 15% YoY. The stock shows up in a screener for companies with decreasing promoter pledges.

  • Mahesh Nandurkar, Head of Research and MD at Jefferies India, says the Union Budget is well-balanced. He adds that the 33% rise in Capex spending beat expectations.

  • Promoter Biocon sells a 10% stake (4 crore shares) in Syngene International for Rs 2,240 crore in a bulk deal yesterday.

  • Ashish Kacholia sells stake in SG Finserve to below 1% in Q3FY23 as against 1.1% held in Q2FY23.

  • Tata Chemicals Q3FY23 net profit rises 25.7% YoY to Rs 391 crore as revenue increases 32% YoY. Revenue from basic chemistry products increased however specialty products reported a marginal fall. Input costs are still high with power and fuel costs surging 56% in Q3. It shows up in a screener of companies with low debt.

  • Britannia’s Q3FY23 net profit surges 2.5X YoY to Rs 932.4 crore because of an exceptional gain of Rs 359 crore with regard to the joint venture with Bel SA for its cheese business. As inflation moderated, the company’s operating margin improved by 330 bps YoY to 18.4%. The stock is trading near its 52-week high and shows up in a screener of increasing revenue for the past two quarters.

Riding High:

Largecap and midcap gainers today include Ambuja Cements Ltd. (352.55, 5.52%), IDFC First Bank Ltd. (59.60, 5.49%) and ITC Ltd. (378.60, 4.76%).

Downers:

Largecap and midcap losers today include Adani Enterprises Ltd. (1,565.25, -26.70%), Adani Transmission Ltd. (1,551.15, -10.00%) and Adani Total Gas Ltd. (1,707.70, -10.00%).

Volume Rockets

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

Top high volume gainers on BSE included Welspun India Ltd. (70.00, 8.78%), Clean Science & Technology Ltd. (1,481.90, 7.66%) and Bombay Burmah Trading Corporation Ltd. (942.75, 7.48%).

Top high volume losers on BSE were TCI Express Ltd. (1,447.20, -9.34%), Birlasoft Ltd. (272.00, -8.11%) and EPL Ltd. (147.80, -5.44%).

Galaxy Surfactants Ltd. (2,414.20, 0.54%) was trading at 9.0 times of weekly average. Sapphire Foods India Ltd. (1,176.10, -5.22%) and ICICI Securities Ltd. (489.50, 1.27%) were trading with volumes 8.8 and 6.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks took off, crossing 52-week highs, while 23 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Blue Star Ltd. (1,329.85, 4.96%), Britannia Industries Ltd. (4,573.05, 4.62%) and ITC Ltd. (378.60, 4.76%).

Stocks making new 52 weeks lows included - Adani Ports & Special Economic Zone Ltd. (462.45, -6.60%) and Adani Transmission Ltd. (1,551.15, -10.00%).

16 stocks climbed above their 200 day SMA including Bombay Burmah Trading Corporation Ltd. (942.75, 7.48%) and KNR Constructions Ltd. (257.00, 6.62%). 28 stocks slipped below their 200 SMA including UPL Ltd. (696.40, -6.16%) and Sapphire Foods India Ltd. (1,176.10, -5.22%).

 
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The Baseline
01 Feb 2023
Budget 2023 Live Analysis

Budget 2023: Winners and Losers

  • Sector/IndustrySector Change 1 YearSector Change 1 YearBudget Impact
    Telecom-1.48%-0.96%Increase in government spending in telecom infrastructure from Rs 3,010 crore in FY23 to Rs 10,400 crore in FY24. However, telecom stocks traded in red as the Centre also increased its non-tax revenue collection target from telecom companies by 30% to Rs 89,469 crore. Telecom Services closed 1% lower in trade today.
    Life Insurance-16.99%-9.2%Life insurance stocks fell more than 9% in trade today after the Centre announced that all income earned from life insurance policies (excluding unit-linked insurance plans) with a premium of above Rs 5 lakh will be taxable. This is applicable post-April 01, 2023. Insurance companies are now worried that high-premium products will face slow demand. Major stocks like SBI Life Insurance, HDFC Life Insurance, Life Insurance Corp and Max Financial fell in trade today.
    Real Estate-8.41%-1.06% Much needed boost for infrastructure development both directly and indirectly. The Finance Minister (FM) has laid out Rs 10,000 crore for urban infrastructure development, with Rs 79,000 crore dedicated to PM Aawas Yojana - a housing development project. FM also specified that infrastructure will be one of the top three priorities. Increased capex will boost growth in these sectors. The index Nifty Realty however pared its gains and closed 0.94% lower in trade today.
    Banking6.68%-0.35%Banking stocks declined post the budget announcement. The budget deficit of 6.4% is higher than historical trends. As government borrowing increases, it sucks liquidity from commercial banks as banks are the biggest market for government bonds. Banks have been reeling with agriculture loans and MSME loans. The government has raised the agriculture loan target to Rs 20 lakh crore. MSME emergency credit line was not fully utilized in FY23. The allocation has been brought down to Rs 14,000 crore from earlier Rs 15,000 crore.
    General Industrials29.8%-1.34% The Centre has raised capex budget by 33% for FY24 with a special focus on railway infrastructure. This may attract higher private investments and start a new capex cycle. This bodes well for the order books of capital goods makers especially those which get business from Indian railways, manufacturing, power generation, defence and construction industries. Stocks in focus: Timken India, Siemens, Rail Vikas Nigam, Cummins, HAL, Bharat Electronics, CG Power, ABB India
    Agrochemicals / fertilizers47.14%-2.67% The majority of fertilizer stocks ended up negative post-budget announcement. The government has cut down the budget allocation of urea subsidy from Rs 1,54,098 crore (revised estimates) for FY23 to Rs 1,31,100 crore in FY24.
    Pharmaceuticals-0.1%-0.33% Indian pharma companies’ reactions to the Union budget unveiling were mixed. Finance Minister Nirmala Sitharaman said that the Centre will encourage the pharma industry to invest in research and development in priority areas. The impact of this on pharma companies will be dependent upon the priority areas or segments that the Centre will decide to focus on. With regard to the allocation to major schemes, the Centre has allocated Rs 1,250 crore (Rs 100 crore in FY23) for the Pharmaceutical department as per FY24 budget estimates.
    Defence49.5%-5.43% All 11 companies in this industry fell post-budget announcement after an early trading session rally despite a 13% increase in the Indian defence budget to Rs 5.94 lakh crore in FY23. This could be due to a less-than-expected increase in the capital outlay, which is mainly used to buy defense equipment. Capital outlay rose only 6.3% YoY to Rs 1.63 lakh crore. A slowdown in capital outlay growth momentum could hurt the order book growth of fast-rising defence companies. However, an already strong order book could help offset this; The focus falls back on the execution of orders going forward.
    FMCG10.64%-0.14% FMCG stocks rose as the Finance Minister announced plans to boost agricultural production. The Centre set an agriculture credit target of Rs 20 lakh crore and has announced various schemes to help farmers, fishermen and agricultural credit societies. However, the FMCG sector lost most of its gains by the end of today’s trade and closed flat. Although a surge in production may ease supply constraints to a certain extent, the focus still remains on cost pressures due to commodity prices still at elevated levels.
    Hotels, Restaurants & Tourism16.85%1.09% Hotel and Tourism stocks rallied in intra-day trade as the Finance Minister announced the promotion of tourism through government programs and public-private partnerships. At a time when demand for travel has almost recovered to pre-Covid levels, this Centre's focus on tourism is likely to push travel demand up in the coming years.

  • The Centre cuts food, fertilizer and fuel subsidy spends by 28% to Rs 3.74 lakh crore (estimated) for FY24.

  • The Centre cuts back spending on rural jobs guarantee schemes in the Union Budget. Also, customs duty has been revised in the import of parts for mobile phone manufacturing, seeds used in lab-grown diamonds, and open cells of TV panels.

  • Finance Minister, in her budget, has extended the date of incorporation for startups to avail tax benefits to March 31, 2024, from March 31, 2023. The FM also proposes the benefit of carrying forward losses on change of shareholding for startups to 10 years of incorporation from the current seven years.

  • Finance Minister proposes to remove the minimum threshold of Rs 10,000 on TDS and increase the rebate limit to Rs 7 lakh per year from Rs 5 lakh.

  • The government has a capex of Rs 35,000 crore for energy transition investment. Finance Minister Nirmala Sitharaman says that battery storage will get viability gap funding. The government also remodels the credit guarantee scheme for MSMEs with an investment of Rs 9,000 crore, reducing the cost of credit by 1 percentage point. This will come into effect from April 1.

  • Finance Minister announces an investment of Rs 75,000 crore for transport infrastructure projects in steel, ports, fertilizer, coal and foodgrain sectors, with Rs 15,000 crore coming from private sources. Iron & Steel/Interm.Products and Fertilizer industries trade in the green.

  • The fiscal deficit for 2022-23 stands at 6.4% of GDP. Finance Minister says that it will fall to 5.9% in 2023-24.

  • The government reduces more than 39,000 compliances and decriminalises more than 3,000 legal provisions to improve the ease of doing business.

  • Indian Railway Catering & Tourism Corp and Rail Vikas Nigam rise as Finance Minister Nirmala Sitharaman announces Rs 2.4 lakh crore capital outlay for railways.

  • Finance Minister Nirmala Sitharaman says the Centre’s capital outlay towards infrastructure development rises 33% to Rs 10 lakh crore. She adds that Rs 2.4 lakh crore will be allotted towards railways.

  • Finance Minister Nirmala Sitharaman says that India's per capita income has grown to Rs 1.97 lakh crore.

  • The Centre is focused on increasing jobs for the youth and enhancing the agriculture sector by bringing modern technologies.

  • The Centre will bear the complete expenditure of Rs 2 lakh crore to ensure Food Security. Finance Minister Nirmala Sitharaman says that agriculture credit will be enhanced to Rs 20 lakh crore.

  • Hotel stocks rise as the Centre announces support for the tourism industry. 

  • Rupee gains 12 paise against the US dollar to Rs 81.76 per dollar in early trade today, ahead of the Union Budget.

  • Economic Survey reveals that direct income has risen by 26%. The survey also suggests that borrowing costs will continue to remain high as rate tightening cycle may last for a longer period. India’s core sector output has also increased by 7.4% in December 2022.

  • The government's tax revenue is expected to exceed budget estimates by Rs 4 lakh crore on higher income tax and customs duty. The Centre's planned capex for this fiscal year is Rs 7.5 lakh crore, compared to Rs 5.5 lakh crore last fiscal. Industries such as infrastructure, defence and logistics are expected to see a boost in funding.

  • India’s manufacturing PMI falls to a three-month low of 55.4 in January, compared to 57.8 in December 2022. However, the reading remains above 50 for the 19th consecutive time.

  • Reports suggest that nominal GDP growth in FY23 will be around 15.4%. The real GDP growth will be around 7% and is likely to come down to 6-6.5% in FY24.

  • The domestic market looks forward to more disposable income for the middle class and a reasonable disinvestment target from the Budget. The market will also focus on the defence, railways and capital goods sectors.

  • Minister of State Finance, Pankaj Chaudhary, says that the 2023-24 budget will accommodate the expectations of all sections of society. Pradeep Misra, CMD – REPL, adds that infrastructure spending is likely to go up by 10% of GDP in the upcoming budget. Infrastructure spending will boost employment and generation of capital in the economy.

  • Finance Minister Nirmala Sitharaman will present the last full budget of this government today. According to Economic Survey, India’s GDP growth is expected to be in the range of 6-6.8% for 2023-24. The Centre also plans to reduce the fiscal deficit and bring it to the level of 5.8-5.9% from 6.4%.

 
T
Trendlyne Marketwatch
01 Feb 2023
Market closes lower, ICICI Sec upgrades its rating on Indian Hotels to ‘Buy’ from ‘Add’

Trendlyne Analysis

Nifty 50 closed in the red after falling nearly 350 points from the day's high. However, Sensex rose over 150 points and closed in the green on a volatile day of trade. Markets showed mixed sentiments toward Finance Minister Nirmala Sitharaman's last full year’s budget before the elections in 2024.

Major Asian indices close higher, in line with the US indices, which also closed in the green on Tuesday. European indices traded in the green amid positive global cues. US stocks rose on Tuesday ahead of the US Fed rate hike decision. Analysts expect the Fed to announce a 0.25% interest rate hike, its smallest increase since March 2022. The tech-heavy Nasdaq 100 rose 1.6% while the Dow Jones settled 1.1% higher. Brent crude oil prices rebounded on Tuesday after falling over 2% on Monday due to demand concerns. In January, crude oil prices remained volatile as traders assessed China’s economy reopening amid demand concerns due to slowing global economic growth.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. However, Nifty FMCG closed higher. All other major sectoral indices closed in the red post the unveiling of the budget. Nifty IT closed in the green, taking cues from the Nasdaq 100, which rose over 1% on Tuesday.

Nifty 50closed at 17,616.30 (-45.9, -0.3%), BSE Sensexclosed at 59,708.08 (158.2, 0.3%) while the broader Nifty 500closed at 14,847.65 (-87.9, -0.6%)

Market breadth is highly negative. Of the 1,955 stocks traded today, 538 showed gains, and 1,376 showed losses.

  • SBI Life Insurancesees a short buildup in its February 23 future series as its open interest rises 33% with a put-call ratio of 0.42.

  • HDFC Life Insurancefalls 12% in trade, nearing a 52-week low after the revision of income tax slabs in the Union Budget. Reports suggest that this would impact taxpayers’ decisions on buying high-premium products in the insurance market. The stock is trading below its third support or S3.

  • Green energy stocks like JSW Energy, Sterling and Wilson Renewable Energy, Inox Wind and Inox Wind Energy rise post announcement of an outlay of Rs 20,700 crore, including the Centre's support of Rs 8,300 crore, for the construction of an interstate transmission system for evacuation and grid integration of 13 GW renewable energy from Ladakh.

  • Maruti Suzuki’s January total wholesales rise 11.8% YoY to 1,72,535 units, led by 14.3% growth in domestic passenger vehicle sales. Utility and mini-segment cars see healthy growth in sales. The stock shows up in a screener for companies with high TTM EPS growth.

  • Medplus Health Services, Tata Power Co and Emami rise 3.8%, 3.7% and 3.9% respectively over the past week, ahead of their Q3FY23 results on Friday.

  • ICICI Securities upgrades its rating on Indian Hotels Co to ‘Buy’ from ‘Add’ and increases the target price to Rs 399 from Rs 366. This implies an upside of 23.7%. The brokerage cites continued demand momentum, strong leisure travel and increasing business travel for revising its recommendation and target price. It expects the company’s revenue to grow at a CAGR of 31.2% over FY22-25.

  • Punjab National Bank, Trident and Tech Mahindra's Q3FY23 net profit falls 43%, 32% and 5.3% YoY respectively

  • NCC receives four new orders worth Rs 1,755 crore in January from state government agencies pertaining to the electrical division.

  • India’s manufacturing PMI falls to a three-month low of 55.4 in January, compared to 57.8 in December 2022. However, the reading remains above 50 for the 19th consecutive time.

  • Power Grid Corp of India’s Q3FY23 net profit rises 10.7% YoY to Rs 3,645.3 crore and revenue grows 7.8% YoY. This growth comes on the back of a healthy performance in the transmission segment. The stock shows up in a screener for companies with revenue increasing sequentially over the past four quarters.

  • GST revenue collections rise 24% to Rs 1.55 lakh crore in January, crossing the Rs 1.50 lakh crore mark for the third time.

  • Bajaj Auto's total monthly wholesales in January decline 21% YoY to 2.9 lakh units due to a 25% YoY fall in two-wheeler sales. Total domestic wholesales rise 16% YoY, while total exports fall 47% YoY. Two-wheeler exports and commercial vehicle exports dip 46% and 53% YoY respectively. The stock shows up in a screener for companies with strong momentum.

  • ACC trades flat as its Q3FY23 net profit falls 61% YoY to Rs 110.45 crore on the back of increasing costs for the company. Purchase of stock expenses rises 2X YoY with power, fuel and raw material costs rising 20% in Q3. The company’s revenue also increases 7% on an increase in sales volumes. It shows up in a screener of companies with no debt.

  • Global indices like Dow Jones, S&P 500 and Nasdaq close in the green in the previous trading session. Asia-Pacific markets also trade higher as investors look ahead to the US Federal Reserve’s decision on rate hikes.

  • Porinju Veliyath adds Lakshmi Automatic Loom Works to his portfolio in Q3FY23, buys a 1.1% stake in the company.

  • Rakesh Jhunjhunwala's portfolio buys a 0.4% stake in Karur Vysya Bank in Q3FY23, now holds 4.7% in the company.

  • Coal India’s Q3FY23 net profit surges 70.1% YoY to Rs 7,755.6 crore on the back of higher realisations and high premiums in the e-auction sale. Revenue grows by 23.7% YoY led by strong volume growth. The company shows up in a screenerfor stocks in the PE Buy zone with high durability and rising momentum scores.

Riding High:

Largecap and midcap gainers today include Indian Hotels Company Ltd. (326.70, 8.54%), Cholamandalam Investment & Finance Company Ltd. (749.80, 6.06%) and Dixon Technologies (India) Ltd. (2,806.60, 4.66%).

Downers:

Largecap and midcap losers today include Adani Enterprises Ltd. (2,135.35, -28.20%), Adani Ports & Special Economic Zone Ltd. (495.15, -19.18%) and Ambuja Cements Ltd. (334.10, -16.72%).

Movers and Shakers

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

Top high volume gainers on BSE included Indian Hotels Company Ltd. (326.70, 8.54%), EIH Ltd. (175.45, 7.64%) and Borosil Renewables Ltd. (509.60, 6.86%).

Top high volume losers on BSE were ICICI Prudential Life Insurance Company Ltd. (401.95, -11.15%), HDFC Life Insurance Company Ltd. (515.70, -10.91%) and Max Financial Services Ltd. (752.95, -9.90%).

Avanti Feeds Ltd. (384.60, -0.08%) was trading at 13.9 times of weekly average. Cholamandalam Financial Holdings Ltd. (597.00, 0.18%) and Lemon Tree Hotels Ltd. (80.95, 5.82%) were trading with volumes 7.7 and 7.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks overperformed with 52-week highs, while 14 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Carborundum Universal Ltd. (975.35, 0.25%), IDFC Ltd. (84.35, -1.63%) and Indian Bank (292.75, -3.94%).

Stocks making new 52 weeks lows included - Adani Ports & Special Economic Zone Ltd. (495.15, -19.18%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,250.00, 0.30%).

25 stocks climbed above their 200 day SMA including EIH Ltd. (175.45, 7.64%) and Cholamandalam Investment & Finance Company Ltd. (749.80, 6.06%). 24 stocks slipped below their 200 SMA including HDFC Life Insurance Company Ltd. (515.70, -10.91%) and Max Financial Services Ltd. (752.95, -9.90%).