My Newsfeed

Trendlyne Marketwatch
Trendlyne Marketwatch
28 Oct 2022
Market closes higher, RBI allows Infibeam to operate as payment aggregator

Trendlyne Analysis

Indian indices closed in the green with the Nifty 50 closing just below the 17,800 mark. Reserve Bank of India scheduled an additional Monetary Policy Committee meeting on November 3. European stocks traded lower as European Central Bank raised its key interest rate on Thursday by an expected 75 basis points to 1.5%, its highest level since 2009.

Barring Indian indices, other major Asian indices closed in the red, despite the US indices closing mixed on Thursday. The tech-heavy NASDAQ 100 fell 1.9% as Meta plunged nearly 25% after missing its quarterly revenue estimates. However, the Dow Jones index rose over 0.6% as US gross domestic product or GDP rose 2.6% QoQ, topping analysts’ expectations. Brent Crude oil futures traded lower after rising over 3.5% in the last two days on the back of strong crude oil demand outweighing concerns over slowing global economic growth.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, despite the benchmark index closing higher. Nifty Auto and Nifty Energy closed higher than Thursday’s levels. Nifty IT closed lower, following the NASDAQ 100, which closed in the red on Thursday.

Nifty 50closed at 17,795.95 (59, 0.3%), BSE Sensexclosed at 59,959.85 (203.0, 0.3%) while the broader Nifty 500closed at 15,247.05 (2.8, 0.0%)

Market breadth is in the red. Of the 1,931 stocks traded today, 678 were in the positive territory and 1,194 were negative.

  • Stocks like Canara Bank, Axis Bank, Sun Pharmaceutical Industries, and Multi Commodity Exchange of Indiaare in the overboughtzone, according to the Money Flow Index (MFI).

  • FSN E-Commerce Ventures(Nykaa) and Delhiveryhit their all-time lows of Rs 975 and Rs 350 respectively. Both stocks fall for three consecutive sessions.

  • KR Choksey retains its 'Buy' rating on Kotak Mahindra Bank with a target price of Rs 2,260. This indicates an upside of 20.9%. The brokerage believes that the bank will regain its deposit growth with an improving customer base and the acquisition of new government business. The bank's net profit is expected to grow at a CAGR of 14.2% over FY22-24.

  • Infibeam Avenues rises after it gets in-principle authorization from the Reserve Bank of India to operate as a payment aggregator. As a payment aggregator, it can provide digital payment services to merchants both online and offline.

  • MRF, Page Industries, and Honeywell Automation India trade above their third support or S3 level as market grows volatile.

  • International Energy Agency (IEA) expects India’s natural gas imports to double and oil imports to go up by 50% by 2030, as domestic demand continues to rise.

  • RBL Bank rises as the Reserve Bank of India is likely to withdraw its official from the company’s board before the expiry of his term. According to reports, this comes after a forensic audit conducted on the bank found no red flags regarding its NPAs.

  • Metalstocks like Steel Authority of India, Jindal Steel & Power, Tata Steel, and Hindalco Industriesare falling in trade. The broader sectoral index BSE Metalis also trading in red.

  • Motherson Sumi Wiring, Larsen & Toubro, Adani Ports & Special Economic Zone, and Macrotech Developers’ weekly average delivery volumes rise ahead of their Q2FY23 results.

  • Oil & gas stocks likeAegis Logistics, Petronet LNG, and Oil India are rising in trade. The broader Oil & Gas sector rises above 2% in trade.

  • Indian rupee appreciates 4 paise to 82.29 from Thursday's close of 82.33 against the US dollar in the early trade today.

  • Edelweiss maintains its ‘Buy’ rating on Finolex Industriesbut cut its target price to Rs 190 from Rs 211. This indicates an upside of 43%. The brokerage lowered its target price as the company was hit by a sharp correction in PVC prices amid high raw material costs. It anticipates margin pressure to persist in the near term. However, the brokerage is optimistic about the firm’s growth prospects given its higher exposure to the rural market and growth momentum in the pipes & fittings segment.

  • Indus Towers is falling despite its Q2FY23 net profit rising 82.6% QoQ to Rs 871.1 crore. The rise in revenue helps the EBITDA margin to grow by 160 bps QoQ to 35.3%. The company features in the screener which reflects stocks with price below short, medium and long-term averages.

  • RP Goyal, Director (Finance) of NHPC, says that the company is operating on a 6,500-megawatt hydro capacity. He adds that the company aims to earn revenue of Rs 15,000 crore and profit of Rs 5,000 crore in the next five years.

  • Dhanuka Agritech rises after an announcement that its board of directors will consider a proposal for the buyback of equity shares at its upcoming board meeting on Tuesday.

  • LatentView Analytics’ is rising as its Q2FY23 net profit increases 18.4% QoQ to Rs 37 crore. Revenue rises 10% YoY despite global recessionary concerns. The company shows up on a screener listing stocks with improving net cash flow for the last two years.

  • Stocks like JSW Steel, Tata Steel, Jindal Steel & Power, and Steel Authority of India are falling in trade as steel prices fall to a two-year low.

  • Aditya Birla Sun Life AMC is falling despite its Q2FY23 net profit rising 10.7% YoY to Rs 191.7 crore. The fall in revenue causes the EBITDA margin to drop 180 bps YoY to 58.6%. The company also features in the screener reflecting stocks unable to generate cash flow.

  • Texmaco Rail and Engineering is rising as it secures a contract worth Rs 252.8 crore from the Madhya Pradesh Metro Rail Corp, according to reports. The order pertains to the supply of standard gauge ballastless tracks for the Indore Metro Rail project. The stock shows up on the screener for companies with improving RoA over the past two years.

  • SBI Cards and Payments Services is falling despite its Q2FY23 net profit rising 52.4% YoY to Rs 525.6 crore. Profit grew on the back of its income on interest and fees & commission growing by 26.5% YoY and 29.5% YoY, respectively. Its asset quality improved as net NPAs decline 13 bps YoY to 0.78%.

  • Tata Chemicals' Q2FY23 net profit rises 3X YoY to Rs 633 crore with revenue rising 40% YoY. The rise in revenue comes despite high raw material and energy costs. Revenue grew across segments like basic chemistry and specialty products in Q2. The company shows up on a screener of stocks with high TTM EPS growth.

Riding High:

Largecap and midcap gainers today include Maruti Suzuki India Ltd. (9,492.55, 4.98%), Oil India Ltd. (194.60, 3.93%) and Max Financial Services Ltd. (701.70, 3.58%).

Downers:

Largecap and midcap losers today include FSN E-Commerce Ventures Ltd. (983.55, -6.28%), SBI Cards and Payment Services Ltd. (810.30, -5.58%) and Schaeffler India Ltd. (2,736.40, -4.52%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Infibeam Avenues Ltd. (17.30, 19.72%), Jubilant Pharmova Ltd. (371.50, 6.60%) and Aegis Logistics Ltd. (317.50, 5.75%).

Top high volume losers on BSE were Balrampur Chini Mills Ltd. (310.05, -6.65%), FSN E-Commerce Ventures Ltd. (983.55, -6.28%) and SBI Cards and Payment Services Ltd. (810.30, -5.58%).

Dhanuka Agritech Ltd. (722.60, 5.48%) was trading at 64.2 times of weekly average. Narayana Hrudayalaya Ltd. (762.80, 4.33%) and Vaibhav Global Ltd. (356.25, 4.15%) were trading with volumes 24.7 and 18.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

18 stocks overperformed with 52-week highs, while 11 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (317.50, 5.75%), Bharat Heavy Electricals Ltd. (73.45, 0.75%) and Bharti Airtel Ltd. (816.85, -0.03%).

Stocks making new 52 weeks lows included - Motilal Oswal Financial Services Ltd. (684.20, -2.39%) and MphasiS Ltd. (1,947.85, -1.12%).

20 stocks climbed above their 200 day SMA including Infibeam Avenues Ltd. (17.30, 19.72%) and Dhanuka Agritech Ltd. (722.60, 5.48%). 11 stocks slipped below their 200 SMA including SBI Cards and Payment Services Ltd. (810.30, -5.58%) and Century Plyboards (India) Ltd. (596.25, -4.13%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
27 Oct 2022
Market closes higher, Rakesh Jhunjhunwala's portfolio cuts stake in Indiabulls Housing Finance

Trendlyne Analysis

Indian indices closed in the green, with the Nifty 50 closing above the 17,700 mark. The benchmark index remained volatile today on the back of futures and options October 27 contract expiry day. European stocks traded lower than Wednesday’s close as Credit Suisse posted a huge quarterly loss ahead of European Central Banks’ key policy-setting meeting. Major Asian indices closed in the green, despite the US indices closing in the red on Wednesday.

US stocks closed lower on the back of lower-than-expected earnings from major tech companies Google and Microsoft. Meta’s share price also plunged nearly 20% in after-hours trading after it missed quarterly revenue estimates. As a result, the tech-heavy NASDAQ 100 index fell 2.3% while the S&P 500 closed over 0.7% lower. Brent crude oil futures traded lower after rising 3.1% on Wednesday as record-high U.S. crude exports indicated strong global oil demand despite slowing global economic growth.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Metal and Nifty Bank closed higher than Tuesday’s close. Nifty IT closed in the red, tracking the NASDAQ 100, which fell over 2% on Wednesday.

Nifty 50closed at 17,758.90 (102.6, 0.6%), BSE Sensexclosed at 59,756.84 (212.9, 0.4%) while the broader Nifty 500closed at 15,262.25 (104.2, 0.7%)

Market breadth is holding steady. Of the 1,936 stocks traded today, 973 were on the uptrend, and 911 went down.

  • Stocks like Godfrey Phillips India, Canara Bank, Axis Bank, and Bank of Maharashtraare in the overbought zone, according to the relative strength index or RSI.

  • Manish Raj Singhania, President of the Federation of Automotive Dealers' Association says that the automobile industry benefited from the festive season and expects sales to increase in the private vehicle and passenger vehicle segments.

  • REC’s Q2FY23 net profit rises 1% YoY to Rs 2,732 crore even as its revenue marginally falls by 0.9% YoY. The company’s board announces an interim dividend of Rs 5 per share for FY23, which will be paid on November 24. The stock shows up on a screener which lists companies with improving RoA over the last two years.

  • Tamilnad Mercantile Bank hits a 52-week high as its Q2FY23 net profit rises 37.5% YoY to Rs 262 crore with net interest income rising 15.8%. The asset quality of the bank improved significantly with gross NPA falling 1.6 percentage points YoY to 1.7% in Q2. The bank shows up on a screener of stocks with improving annual profits for the last two years.

  • Axis Bank and Bharti Airtelhit their all-time highs of Rs 919.9 and Rs 822.2, respectively. Axis Bank rises for last two sessions, while Bharti Airtel trades higher for six sessions.

  • Rakesh Jhunjhunwala's portfolio sees sale of stake in Indiabulls Housing Financeduring Q2, now holds below 1% against 1.2% in Q1FY23

  • Sunil Singhania's Abakkus Fund adds Jubilant Pharmovato the portfolio in Q2FY23, buys 1.2% stake in the company

  • Kaveri Seedrises as the board approves buyback of fully-paid equity shares up to Rs 125.6 crore at price not exceeding Rs 700 per share.

  • Tushar Kawedia, Group CFO of IRB Infrastructure Developers says that toll collections are improving and expects a growth of 20% in toll revenue in FY23. He says that the construction business in Q2FY23 was affected by monsoons, but expects revenue from construction to improve in H2FY23.

  • Warehousing and Logistics, Aluminium and Aluminium Products, and Iron & Steel/Intermediate Products industries riseby more than 3% in trade today.

  • Bharat Electronics is rising despite its Q2FY23 net profit declining marginally by 0.1% YoY to Rs 623.7 crore, while its revenue grows 7.7% YoY. The company’s profit takes a hit due to a 30.9% YoY increase in the cost of raw materials. The stock shows up on a screener for companies with consistent high stock returns over the last five years.

  • The Centre mulls a second PLI Scheme for the pharmaceutical sector, according to reports. The PLI scheme could offer incentives of up to Rs 5,000 to Rs 6,000 crore towards raw materials for vaccines.

  • Gland Pharma hits a 52-week low as its Q2FY23 net profit falls 20% YoY to Rs 241 crore. Revenue is down by 3% YoY, however, revenue from the US, Europe, Canada and Australian markets rise 3%. Total sales to the US market rose 5% in Q2. The company shows up on the screener listing stocks with medium to low Trendlyne momentum scores.

  • NHPC, Container Corporation of India, Gujarat Gas rises more than 8% over the past week, ahead of their Q2FY23 results.

  • ICICI Direct downgrades its rating on Bajaj Finserv to ‘Hold’ from ‘Buy’ and keeps its target price unchanged at Rs 1,850. This implies an upside of 11%. The brokerage remains positive on the company’s prospects as it expects growth in the insurance segment and loan disbursements. However, it believes the firm is trading at an expensive valuation, hence the downgrade in rating. The brokerage expects the conglomerate’s net profit to grow at a CAGR of 41% over FY22-24.

  • Realty stocks like Phoenix Mills, DLF, Prestige Estates Projects, Indiabulls Real Estate, and Godrej Properties are rising in trade. The broader sectoral index BSE Realty is also trading in the green.

  • Century Textiles is rising as its Q2FY23 net profit surges 60.1% YoY to Rs 71.6 crore. Revenue rises 21.6% YoY driven by its pulp and paper segment's revenue growing 37.3% YoY. The pulp and paper segment contributed more than 75% to the company’s total revenue in Q2. The stock makes it to a screener for companies with improving cash flow and high durability.

  • Indian rupee rises to 82.15 against the US dollar in early trade today.

  • JSW Steel USA, a subsidiary of JSW Steel ties up with two Italian banks Intesa Sanpaolo and Banco BPM to finance its plate mill project in Texas. Total financing availed is $182 million with $112 million will be a term loan. JSW Steel shows up on a screener of stocks with improving RoCE for the past two years.

  • Metal stocks like JSW Steel, Vedanta, Jindal Steel & Power, and Steel Authority of Indiaare rising in trade. The broader sectoral index BSE Metal is also trading in green.

  • Dabur’s Q2FY23 net profit falls 2.7% YoY to Rs 490.8 crore as inflation continues to affect demand from rural markets. However, its revenue increases by 6% YoY in Q2 with retail and food businesses contributing maximum to revenue growth. The company also bought a 51% stake in Badshah Masala for Rs 587.5 crore and will buy the remaining 49% stake over a period of five years.

Riding High:

Largecap and midcap gainers today include Tata Motors Limited (DVR) (236.05, 5.97%), JSW Steel Ltd. (679.60, 5.47%) and Indraprastha Gas Ltd. (425.55, 4.39%).

Downers:

Largecap and midcap losers today include Gland Pharma Ltd. (1,901.40, -14.56%), FSN E-Commerce Ventures Ltd. (1,049.40, -5.57%) and Tube Investments of India Ltd. (2,737.40, -3.27%).

Volume Rockets

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

Top high volume gainers on BSE included SJVN Ltd. (36.25, 10.18%), RBL Bank Ltd. (136.35, 10.14%) and IIFL Finance Ltd. (400.90, 10.09%).

Top high volume losers on BSE were Gland Pharma Ltd. (1,901.40, -14.56%), PCBL Ltd. (128.90, -8.19%) and FSN E-Commerce Ventures Ltd. (1,049.40, -5.57%).

Balaji Amines Ltd. (2,978.05, -3.96%) was trading at 8.7 times of weekly average. Century Textiles & Industries Ltd. (877.35, 7.78%) and AstraZeneca Pharma India Ltd. (3,303.60, 5.84%) were trading with volumes 8.3 and 6.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

23 stocks hit their 52-week highs, while 11 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Axis Bank Ltd. (915.15, 1.36%), Bharti Airtel Ltd. (817.10, 1.84%) and Blue Star Ltd. (1,223.95, 1.12%).

Stocks making new 52 weeks lows included - Johnson Controls-Hitachi Air Conditioning India Ltd. (1,173.00, -4.51%) and MphasiS Ltd. (1,969.95, -3.17%).

24 stocks climbed above their 200 day SMA including Century Textiles & Industries Ltd. (877.35, 7.78%) and Tata Motors Limited (DVR) (236.05, 5.97%). 8 stocks slipped below their 200 SMA including Rallis India Ltd. (227.00, -2.43%) and KEC International Ltd. (418.45, -2.20%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
25 Oct 2022
Market closes lower, Bharat Dynamics hits all-time high of Rs 988.6

Trendlyne Analysis

Nifty 50 lost over 150 points from the day’s high and closed just above the 17,650 mark. Indian indices closed in the red today, after rising for seven straight trading sessions. European stocks traded higher, extending their gains from Monday as Rishi Sunak is set to become the new UK Prime Minister today. However, major Asian indices closed mixed, despite the US indices closing higher on Monday. The Hang Seng China Enterprises Index, which includes Chinese stocks listed in Hong Kong closed lower after falling over 7% on Monday, touching its lowest level since 2008. Chinese stocks fell as investors reacted to the consolidation of power by Chinese President Xi Jinping.

US indices closed higher on Monday supported by strong quarterly earnings. The tech-heavy NASDAQ 100 rose nearly 1.1%, while the Dow Jones closed over 1.3% higher. Brent crude oil trades in the red after falling 2.2% on Monday after data showed China’s crude imports falling by 2% in September as Zero-Covid policy continues to hurt crude oil demand.

Nifty Smallcap 100 and Nifty Next 50 closed higher, despite the benchmark index, closing in the red. Nifty FMCG and Nifty Energy closed lower than Monday’s levels. Nifty IT closed higher, taking cues from the NASDAQ 100, which rose over 1% on Monday.

Nifty 50closed at 17,642.65 (-88.1, -0.5%), BSE Sensexclosed at 59,543.96 (-287.7, -0.5%) while the broader Nifty 500closed at 15,148.35 (-50.4, -0.3%)

Market breadth is in the red. Of the 1,918 stocks traded today, 684 were on the uptrend, and 1,183 went down.

  • MindTreesees a long build-up in its October 27 future series as its open interest rises 15.4% with put to call ratio of 0.84.

  • FSN E-Commerce Ventures (Nykaa) hits an all-time low of Rs 1,108.05, the stock falls below its issue price of Rs 1,125.

  • Bank of Maharashtra rises post results, it outperforms Nifty 50 by 9.5% over the past week.

  • Home First Finance Co India, Kajaria Ceramics, and Schaeffler India trade below their second support or S2 level as the market trades lower.

  • Ramkrishna Forgings' Executive Director and CFO states that the revenue growth guidance for FY23 is intact at 20-25%. He remains confident of the truck market in North America and expects the volume to rise by 10% in H2FY23.

  • NHPC and Bharat Dynamics hit their all-time highs of Rs 45.5 and Rs 988.6, respectively. NHPC rises for the past two consecutive sessions while Bharat Dynamics rises for the past three consecutive sessions.

  • IT stocks like Persistent Systems, Tech Mahindra, Larsen & Toubro Infotech, and Infosysare rising in trade. The broader sectoral index Nifty ITis also trading in green.

  • Multi Commodity Exchange is surging as its Q2FY23 net profit jumps 93.7% YoY to Rs 63.3 crore. Revenue rises 53.1% YoY on the back of robust growth in trading of options and stable futures volume. The stock shows up on the screener for companies with rising net profits sequentially for the last four quarters.

  • PSU Banks like Punjab National Bank,Bank of India, Canara Bank, Union Bank of India, and Bank of Baroda are rising in trade. The broader sectoral index Nifty PSU Bank is also trading in the green.

  • Axis Capital upgrades its rating on Kotak Mahindra Bank to 'Buy' with a target price of Rs 2,300. This indicates an upside of 24.4%. The brokerage believes that a healthy credit demand and a kind asset quality environment will provide a strong loan growth opportunity to the company. It expects the bank' net profit to grow at a CAGR of 21% over FY22-25.

  • Dr. Reddy's Laboratories recalls 2,838 ampules of phytonadione injectable emulsion in the US market due to failed stability specifications, according to reports. Cipla recalls 9,041 cartons of arformoterol tartrate inhalation solution due to lack of assurance of sterility.

  • Reliance Industries' board of directors approve the demerger of its financial services undertaking into Reliance Strategic Investments. The subsidiary will be renamed to Jio Financial Services and listed on the Indian stock exchanges. Shareholders of Reliance Industries will get one share of Jio Financial Services for one share held in Reliance Industries.

  • BOB Capital Markets downgrades Laurus Labs to ‘Hold’ from ‘Buy’ and cut its target price to Rs 540 from Rs 645. This indicates an upside of 11%. The brokerage revises its growth outlook on the company due to a steep fall in revenue from finished dosage forms and pricing uncertainty with antiretroviral drugs. Another key reason for the brokerage changing its rating on the firm is due to the management slashing its revenue growth guidance for FY23.

  • DLF's Q2FY23 net profit rises 25.9% YoY to Rs 477 crore despite a 12.6% YoY fall in revenue to Rs 1,360.5 crore. The company's new sales booking rises 36% YoY to Rs 2,052 crore.

  • Edelweiss maintains its ‘Buy’ rating on CreditAccess Grameen with a target price of Rs 1,200. This implies an upside of 25%. The company is the brokerage’s top pick in the micro-finance institution space given its robust traction in loan disbursements and customer acquisitions, improving asset quality, and expanding margins. It expects the company’s net profit to grow at a CAGR of 71.5% over FY22-24.

  • Commodity Printing/Stationery, IT Networking Equipment, and Shipping industries rise by more than 15% over the past month.

  • Seshagiri Rao, joint Managing Director and group Chief Financial Officer of JSW Steel says that steel prices are stabilising. He says this will help the company’s H2FY23 performance to be better than H1FY23. He expects the company’s crude steel production for FY23 to be 25 million tonnes and the company’s capex and expansion plans are on track.

  • Ashish Kacholia adds Arvind Fashions to his portfolio in Q2FY23, buys a 1.1% stake in the company.

  • ICICI Bank’sQ2FY23 net profit rises 37.1% YoY to Rs 7,557.8 crore as provisions fall 39.4% YoY and net interest income rises 22.6% YoY. The bank’s asset quality improves with gross non-performing assets falling 22 bps YoY to 3.19%. The bank shows up on a screener of stocks with improving return on equity (RoE) over the last two years.

  • Hindustan Unilever is falling despite its Q2FY23 net profit rising 22.2% YoY to Rs 2,665 crore led by the home care and personal care segments. Revenue rises 16.1% YoY driven by price hikes and volume growth. The stock shows up on a screener which lists companies with rising profits sequentially for the past four quarters.

  • Reliance Industries’ Q2FY23 net profit marginally dips 0.2% YoY to Rs 13,656 crore as the windfall profit tax on the export of fuel and crude oil impacts the firm’s profitability. Revenue grows 33.8% YoY driven by the retail, digital services, and oil to chemicals segments. The stock makes it to the screener for companies with revenue rising sequentially for the past four quarters.

Riding High:

Largecap and midcap gainers today include Bank of India (56.45, 10.15%), Bharat Heavy Electricals Ltd. (71.10, 7.32%) and Indraprastha Gas Ltd. (407.65, 6.34%).

Downers:

Largecap and midcap losers today include Laurus Labs Ltd. (452.90, -5.61%), Schaeffler India Ltd. (2,961.80, -3.98%) and Indus Towers Ltd. (187.05, -3.66%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Bank of India (56.45, 10.15%), Multi Commodity Exchange of India Ltd. (1,495.25, 9.22%) and Mahanagar Gas Ltd. (838.30, 6.66%).

Top high volume losers on BSE were Laurus Labs Ltd. (452.90, -5.61%), Fortis Healthcare Ltd. (265.75, -2.58%) and CSB Bank Ltd. (229.25, -1.97%).

JK Lakshmi Cement Ltd. (561.95, 4.67%) was trading at 7.2 times of weekly average. Latent View Analytics Ltd. (378.50, 5.08%) and KEI Industries Ltd. (1630.35, 6.39%) were trading with volumes 6.4 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks took off, crossing 52-week highs, while 7 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Bank of Baroda (148.35, 2.70%), Canara Bank (284.20, 5.06%) and Cipla Ltd. (1,155.90, 0.78%).

Stocks making new 52 weeks lows included - TV18 Broadcast Ltd. (35.05, -1.27%) and Indian Energy Exchange Ltd. (139.20, 2.02%).

16 stocks climbed above their 200 day SMA including Multi Commodity Exchange of India Ltd. (1,495.25, 9.22%) and Mahanagar Gas Ltd. (838.30, 6.66%). 10 stocks slipped below their 200 SMA including Kajaria Ceramics Ltd. (1,065.05, -4.01%) and Rajesh Exports Ltd. (651.00, -2.84%).

 
logo
The Baseline
24 Oct 2022
Eight Diwali Picks from Analysts with High Upside
By Abhiraj Panchal

This week, we bring you a list of stocks where analysts are expecting fireworks. We identify Diwali picks with siginficant upside from ICICI Direct, KR Choksey, Edelweiss and HDFC Securities.

ICICI Direct’s Top picks for Diwali are Laurus Labs and Havells India, among others.

  1. Laurus Labs: ICICI Direct gives this pharmaceutical company a ‘Buy’ …

PremiumThis is a premium article. Click here to read.

 
logo
The Baseline
21 Oct 2022
Chart of the week: Best performing IPOs of 2022
By Abdullah Shah

2022 has seen 109 initial public offerings (IPO) listed to the Indian exchanges. With two months to go, we are already closing in on the 117 number - which was the total IPOs listed in 2021. In this week’s chart of the week, we take a look at the best performing IPOs listed in 2022.

The best performing IPO of the year is telecom company Steelman Telecom which has risen 135.3% since its listing. The IPO was listed on October 10 with an issue size of Rs 26 crore at an issue price of Rs 96 per share. The company offers support services and solutions to address the network requirements of the Telecom industry. The stock is currently trading at around Rs 225.

The second best performing IPO of 2022 is snack business Annapurna Swadisht, which has  risen 129.7% since its listing on September 27. The issue size of the IPO was Rs 30.3 crore with an offer price of Rs 68 per share, and it has been trading at around  Rs 155 since its listing. The IPO was 133.4x oversubscribed. The company is a manufacturer of snacks and food products like fryums, cakes, candies, namkeen, chips, and gohona bori.

Telecom equipment manufacturer Frog Cellsat comes third, with a 79.5% rise in price since its listing on October 13. The IPO debuted with an issue size of Rs 41.6 crore at an issue price of Rs 102 per share.  The company manufactures telecom equipment like 2G/3G/4G multi-band digital RF repeaters, multi-band frequency shift repeaters, multi-band optical DAS systems, relative software, and accessories. The stock has been trading at around  Rs 195, at a substantial premium to its issue price. 

The fourth best performing IPO is electronics retailer Electronics Mart India, which has risen 60.9% since its listing. The IPO listed this month on October 17 with an issue size of Rs 500 crore at an issue price of Rs 59 per share. The company offers a range of products with a focus on large appliances, air conditioners, televisions, washing machines, refrigerators, and also mobiles and small appliances, IT and others. Last traded price of the IPO was Rs 93.

See the full list of most successful IPOs

 
logo
The Baseline
21 Oct 2022
Five Interesting Stocks Today: Results Edition
  1. KPIT Technologies: This IT Consulting & Software company fell nearly 7% in intraday trade on Wednesday after announcing its Q2FY23 results but recovered to close only 1.7% lower. The company’s net profit in Q2 declined 2.3% QoQ despite its revenue rising 8.6% QoQ. The fall in profitability is due to rising employee benefit costs and other expenses, which also led to a decline in its EBIT margin by 90 bps QoQ to 14.2%. The stock makes it to the screener for companies with revenues rising sequentially over the past eight quarters.

The recovery in the stock price despite its weak Q2 performance is due to the management raising its revenue guidance for FY23. It revised the organic revenue growth guidance to 23% from 18-21% and the constant currency (CC) revenue growth guidance to 31-32% for FY23. The management’s revenue guidance seems to be higher than the street’s expectations as Trendlyne’s Forecaster estimates the company’s revenue to grow by 20.7% in FY23.

The management expects organic growth across all its business segments, led by strategic clients. It is especially optimistic about the demand from vehicle manufacturers as they are heavily focusing on software-defined vehicles, which augurs well for the company. The software firm bagged new deals with a total contract value (TCV) of $142 million in Q2. The CEO and Managing Director, Kishor Patil cites a healthy order pipeline and expectation of winning more deals in the next 3-4 months for increasing the revenue guidance for FY23. Along with the anticipation of higher demand, the company also expects attrition rates to fall in the coming quarters.

  1. Polycab India: This consumer durables stock touched its 52-week high on Wednesday after it reported an increase in net profit by 37% to Rs 270.5 crore in Q2FY23. Despite falling commodity prices and inflationary pressures, revenue was up 11% YoY on the back of strong volume growth in the cables and wires business. The company’s revenue and net profit beat Trendlyne’s Forecaster estimates by 10.1% and 9.7%, respectively. Its EBITDA margin grew sequentially to 12.8% during the quarter.

ICICI Securities remains optimistic about the company considering its competitive advantages and growth prospects in the consumer durables sector. It raised the target price to Rs 2,700 from Rs 2,250. However, it maintains its ‘Hold’ rating on the stock as it is cautious about the possible increase in input prices.

Polycab shows up on a screener with stocks that have high TTM EPS growth. This is in line with Trendlyne’s Forecaster estimates that expect the company’s EPS to grow by 25.1% in FY23. It also makes it to the screener with stocks that outperformed their sectors in the past month.

  1. Ultratech Cement:This cement stock has underperformed its industry by 10.8% in the past 90 days, which is not a surprise given that Q2 is a seasonally weak quarter for the cement industry. However, the stock rose for six consecutive sessions until it declared its Q2FY23 results. Its net profit fell 42.5% YoY to Rs 756 crore dented by high energy costs causing the stock to fall by 1.7% on Thursday. It missed Trendlyne’s Forecaster estimate by 8.5%. But the company reported an increase in net sales by 15.8% YoY.

Although profitability fell, the management expects demand to improve post the festive season. They even gave a double-digit volume growth guidance for FY23-24. The company has capex plans worth Rs 6,000-7,000 crore to be rolled out for FY23 and FY24. Also, an additional capacity of 15.4 million tonne per annum is to be added in H2FY23 increasing total capacity to 131.3 million tonne per annum which will aid revenue growth in the second half of the year. ICICI Direct expects Ultratech’s capacity to grow by nearly 10% CAGR as against the industry capacity growth of 7.2% over the next three years.

Also, with the price hikes taken in September and further hikes expected post-Diwali, the company’s EBITDA earnings are likely to improve. IDBI Capital expects EBITDA to improve by 2-10% in FY23-24.

The only hindrance to growth lies with the high energy costs. Pet coke – a key raw material, saw a fall in its prices to $170 per tonne in Q1FY23. But prices have again increased to $205 per tonne. Imported coal prices are still high. And although crude prices cooled off a bit, the prices are likely to hover around $90 per barrel because of production cuts taken by OPEC. Ultratech Cement’s management expects fuel costs to fall in H2FY23 but remains cautious given the volatility and tightening crude oil supplies. Despite these risks, Forecaster’s consensus estimate shows 36 analysts recommending a ‘Buy’ on the stock.

  1. Tata Elxsi: The stock of this engineering, research and development player fell nearly 13% since it declared its Q2FY23 results on October 14. This is despite the fact that the company saw strong sequential growth of nearly 5% and YoY growth of over 25% in its revenues. The ER&D player, however, disappointed investors on the earnings front. Its net profits fell nearly 6% on a QoQ basis owing to the sharp compression in margins.

Tata Elxsi saw its EBITDA margins contract by nearly three percentage points sequentially in Q2FY23. The company went on a fresh hiring spree and onboarded the highest-ever no. of employees in Q2. Tata Elxsi also had to make investments in building a new leadership team at the mid-and senior-management levels as it was facing a supply crunch there. These factors coupled with the expansion of facilities at centres like Bengaluru, Chennai and Pune caused a material fall in its EBITDA margins. This ultimately weighed negatively on the bottom line of the company. Tata Elxsi missed the consensus estimates of analysts on Q2 net profits by nearly 7%. Since its PE valuations are also pricey at 69X, the market came down heavily on the stock. The concerns on the cost and supply front are not the only factors worrying the investors.

While Tata Elxsi witnessed strong sequential growth in its transportation and healthcare segment, its media and communication segment was essentially flat. According to the management, media clients in the US and Europe deferred decisions to sign new deals to a later time. Key clients are now on a wait-and-watch mode and are being a little careful with their R&D spends. Notably, the media segment contributes over 35% share to the company’s revenues. Hence, the slowdown in this segment has spooked investors even though the outlook for transportation and healthcare segments continues to be robust.

  1. PVR: This multiplex operator’s share price fell marginally on Monday after it announced its Q2FY23 results. PVR’s net losses narrowed to Rs 71.2 crore from Rs 153.1 crore in Q2FY22 with its revenue jumping 5.7X YoY. But this did not excite the investors as both revenue and net profit missed Trendlyne’s Forecaster estimates.

PVR’s lower-than-expected earnings could be attributed to the underperformance of Bollywood movies in Q2. The average gross collection of the top five Bollywood movies for PVR dropped by 37% to Rs 25.6 crore over the pre-pandemic base (Q2FY20). Regional movies’ contribution rose to 44% in Q2FY23 against 28% in Q2FY20. This outperformance of regional movies vs Bollywood movies could diversify the genre and regional risk for multiplex operators. However, footfalls overall were 39% lower than a comparable pre-COVID quarter. But the management is focused on improving admissions back to cinema halls and expects a full recovery in footfalls to pre-Covid levels by the end of FY23.

Despite a revenue miss in Q2, brokerages maintain a positive outlook on PVR on the back of a strong content slate in the near term. The company shows up in the screener that lists stocks with high analyst ratings with at least a 20% upside. Investors are also looking ahead to PVR’s merger with Inox Leisure, which is expected to be completed in three months. Inox’s revenue jumped nearly 8X in Q2FY23. According to Trendlyne’s comparison tool, Inox outperforms PVR on 27 out of 40 parameters including YoY revenue and net profit growth.

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

 
Trendlyne Marketwatch
Trendlyne Marketwatch
21 Oct 2022
Market closes flat, HDFC Life Insurance's Q2 net profit rises 19% YoY to Rs 326.2 crore

Trendlyne Analysis

Nifty 50 lost over 90 points from its day’s high but still closed marginally higher on a volatile day of trade. Indian indices closed in the green for a sixth straight session. European stocks traded in the red amid political chaos in the UK after Liz Truss resigned as UK’s Prime Minister on Thursday. Most major Asian indices closed in the red, in line with the US indices, which closed lower on Thursday. US stocks gave up their gains from the start of the trading session and closed lower as investors continued to assess the impact of high inflation on company financials. The NASDAQ 100 fell 0.5% while the Dow Jones closed 0.3% lower. Brent crude oil futures traded marginally lower as traders weigh demand concerns due to slow economic growth amid high inflation against quarantine easing in China.

Nifty Smallcap 100 closed flat, following the benchmark index. Nifty Media and Nifty Metal closed higher than Thursday’s levels. Nifty IT closed lower, tracking the NASDAQ 100, which closed in the red on Thursday.

Nifty 50closed at 17,583.75 (19.8, 0.1%), BSE Sensexclosed at 59,307.15 (104.3, 0.2%) while the broader Nifty 500closed at 15,082.45 (-29.7, -0.2%)

Market breadth is moving down. Of the 1,929 stocks traded today, 575 were on the uptick, and 1,282 were down.

  • Stocks like Mazagon Dock Shipbuilders, Castrol India, Rajesh Exports, and RHI Magnesita India are in the overbought zone.

  • HDFC Life Insurance is rising as its Q2FY23 net profit rises 19% YoY to Rs 326.2 crore with net premium income rising nearly 15% YoY. The company’s solvency ratio rises 20 percentage points YoY to 210%. The company shows up on the screener for companies with an improving net cash flow over the past two years.

  • Axis Bank and Federal Bank hit their all-time highs of Rs 898.5 and Rs 134.8, respectively. Both stocks rise for two consecutive sessions.

  • HDFC Securities reiterates 'Add' rating on Nippon Life India with a target price of Rs 350. This indicates an upside of 29.4%. The brokerage expects the company to capitalise on its increasing credibility to raise institutional capital. It estimates the company's revenue to grow at a CAGR of 13.7% over FY22-25.

  • Amit Syngle, CEO and MD of Asian Paints says that material inflation during Q2FY23 was 2%. He expects the company's gross margin to improve to 37-38% once inflationary pressures ease down.

  • Hardware Technology & Equipment, Banking and Finance, and Oil & Gas sectors rise more than 3% over the past week.

  • Bharat Dynamics (BDL) is rising as it signs a memorandum of understanding (MoU) alongside Dassault Aviation with the Indian Armed Forces. The MoU is for the integration of BDL weapon systems like astra and smart anti-airfield weapons on Rafale aircrafts.

  • Nazara Technologies' Chief Executive Officer (CEO) Manish Agarwal resigns, his resignation is effective from December 1. The company approves the change in designation of Nitish Mittersain to the new CEO and Joint Managing Director.

  • MRF, Kotak Mahindra Bank, and ICICI Bank trade above their third resistance or R3 level as market trades higher.

  • KNR Constructions completes its second transaction of a 51% stake transfer in KNR Shankarampet Projects to Cube Highways and Infrastructure III Pte yesterday. The total transaction amounts to Rs 154.6 crore.

  • IEX is falling as it reports a fall in Q2FY23 net profit by 8.4% YoY to Rs 71 crore with revenue falling 13.8% YoY. Revenue from the power exchange segment also fell as electricity volumes fell 18.4% YoY because of supply constraints and high energy prices. The company shows up on the screener listing stocks with declining revenue for the past three quarters.

  • ICICI Securities is optimistic about Sonata Software’s growth potential as it upgrades its rating to ‘Add’ from ‘Hold’ and increases the target price to Rs 578 from Rs 566. This implies an upside of 13.5%. The brokerage believes that the company is trading at an attractive valuation. It also has a healthy growth outlook on the international and domestic business segments of the firm. It expects the company’s revenue to grow at a CAGR of 22.7% over FY22-24.

  • Delhivery falls in trade as around 32.4 lakh shares (0.4% equity) amounting to Rs 131.7 crore change hands, according to reports.

  • MphasiS’ Q2FY23 net profit rises 4.1% QoQ to Rs 418.5 crore, yet the stock is falling in trade. The revenue increase is driven by the banking & financial services segment and new deal wins.Coforge’s Q2 net profit surges 34.3% QoQ to Rs 201.1 crore. Profit grows on the back of robust deal wins and a rise in revenue from offshoring.

  • Hindustan Aeronautics inks a pact with the Indian Air Force for 70 HTT-40 indigenous trainer aircrafts worth Rs 6,800 crore.

  • Ramkrishna Forgings is rising as it bags an export order from a Swedish firm worth Rs 121.5 crore for making electric vehicle components. The company shows up on a screener with improving RoA for the last two years.

  • IndiaMART InterMESH is rising despite its Q2FY23 net profit falling 17% YoY to Rs 68.4 crore. Rise in employee benefits and other expenses resulted in the EBITDA margin to drop 17.7 percentage points YoY to 27.9%. The company features in the screener which reflects stocks with falling quarterly net profit and profit margin YoY.

  • CCI gives its nod to Carlyle Group and Advent International to acquire 10% stake each in YES Bank. YES Bank had announced raising of capital worth Rs 8,900 crore from the private equity firms, in July.

  • Bajaj Finance’s Q2FY23 net profit jumps 88% YoY to Rs 2,781 crore on the back of net interest income rising 31% YoY and growing loan disbursements. The company’s asset quality improves as its net non-performing assets fall 66 bps to 0.44%. The stock makes it to the screener for companies with consistent high stock price returns over the past five years.

  • Public sector banks like Canara Bank, Bank of India, Punjab & Sind Bank and UCO Bank are rising more than 2% in trade today. The broader sectoral index Nifty PSU Bank is also trading in the green.

  • Axis Bank’s Q2FY23 net profit rises 70% YoY to Rs 5,329.7 crore as provisions fall 19% YoY and net interest income rises 31% YoY. Revenue from corporate, wholesale and retail banking also increase in Q2. The bank’s asset quality improves with gross NPA and net NPA falling 103 bps and 57 bps YoY, respectively. The bank shows up on a screener of stocks with improving RoE for the last two years.

Riding High:

Largecap and midcap gainers today include Axis Bank Ltd. (900.40, 9.03%), Union Bank of India (49.15, 4.02%) and NHPC Ltd. (41.50, 4.01%).

Downers:

Largecap and midcap losers today include Laurus Labs Ltd. (486.25, -7.59%), Berger Paints (India) Ltd. (585.35, -5.41%) and PB Fintech Ltd. (379.65, -5.27%).

Movers and Shakers

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

Top high volume gainers on BSE included Finolex Cables Ltd. (494.85, 10.30%), KPIT Technologies Ltd. (711.95, 9.04%) and Axis Bank Ltd. (900.40, 9.03%).

Top high volume losers on BSE were Johnson Controls-Hitachi Air Conditioning India Ltd. (1,221.60, -6.33%), Route Mobile Ltd. (1,307.75, -6.09%) and Berger Paints (India) Ltd. (585.35, -5.41%).

Welspun India Ltd. (78.20, 1.76%) was trading at 10.1 times of weekly average. Jubilant Pharmova Ltd. (339.70, 5.14%) and VIP Industries Ltd. (709.65, 2.97%) were trading with volumes 7.8 and 6.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks made 52-week highs, while 12 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Axis Bank Ltd. (900.40, 9.03%), Bank of Baroda (143.55, 2.03%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,031.05, -0.67%).

Stocks making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Ltd. (1,355.95, -0.53%) and Johnson Controls-Hitachi Air Conditioning India Ltd. (1,221.60, -6.33%).

20 stocks climbed above their 200 day SMA including Thermax Ltd. (2,085.95, 4.46%) and Rallis India Ltd. (233.55, 3.25%). 15 stocks slipped below their 200 SMA including IRB Infrastructure Developers Ltd. (230.25, -4.82%) and Aptus Value Housing Finance India Ltd. (312.80, -4.24%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
20 Oct 2022
Market closes higher, Colgate-Palmolive's Q2 profit rises 3.3% YoY to Rs 278 crore

Trendlyne Analysis

Nifty 50 closed in the green after gyrating between losses and gains throughout the day. Indian indices closed higher for a fifth straight session. Indian rupee touched a lifetime low of 83.08 against the US dollar in early trade. European stocks followed the global trend and traded lower than Wednesday's close as investors assess companies' quarterly earnings.

Most major Asian indices closed in the red, in line with the US indices, which closed in the red amid rising treasury yields. US stocks closed lower on a volatile day of trade due to mixed quarterly earnings releases by major companies. The tech-heavy NASDAQ 100 index lost 0.4% while the Dow Jones closed 0.3% lower. Brent crude oil futures traded higher, extending its 2.2% gain on Wednesday due to lower-than-expected US crude oil inventories.

Nifty Smallcap 100 closed flat while the Nifty Midcap 100 closed in the red. Nifty Pharma and Nifty Energy closed higher than Wednesday’s levels. Nifty IT closed higher, despite the NASDAQ 100 closing in the red on Wednesday.

Nifty 50closed at 17,565.25 (53, 0.3%), BSE Sensexclosed at 59,202.90 (95.7, 0.2%) while the broader Nifty 500closed at 15,115.45 (46.9, 0.3%)

Market breadth is in the red. Of the 1,928 stocks traded today, 841 were on the uptrend, and 1,020 went down.

  • Asian Paints sees a short build-up in its October 27 future series as its open interest rises 9.6% with put to call ratio of 0.44.

  • EID Parry (India)and Aegis Logistics hit their 52-week highs of Rs 649.95 and Rs 308, respectively. EID Parry (India) rises for two consecutive sessions, while Aegis Logistics trades higher for three sessions.

  • Asian Paints is falling despite its Q2FY23 net profit rising 31.3% YoY to Rs 782.7 crore. Revenue grows 19.8% YoY on the back of growing sales volume across business verticals and price hikes. The company’s board announces an interim dividend of Rs 4.4 per share for FY23, which will be paid on or after November 10.

  • Phoenix Mills falls in trade as around 2 lakh shares (0.1% equity) amounting to Rs 27.4 crore change hands, according to reports.

  • Maharashtra Scooters' Chief Executive Officer (CEO) Shriniwas Pathak resigns on Wednesday, his resignation is effective from December 15. The company appoints Sanjay Vishram Uttekar as the new CEO.

  • Tata Consultancy Services is rising as it partners with UK’s leading supermarket company Sainsbury’s. Through this partnership, TCS will help modernise Sainsbury’s IT infrastructure by using TCS Enterprise Cloud.

  • HDFC Securities maintains its ‘Add’ rating on L&T Technology Services and increases its target price to Rs 3,750 from Rs 3,520. The brokerage is optimistic about the company’s growth potential in the coming quarters given its consistent large deal wins, strong bookings in Europe, and robust deal pipeline. It expects the company’s revenue to grow at a CAGR of 14.3% over FY22-25.

  • Colgate-Palmolive is rising as its Q2FY23 net profit increases 3.3% YoY to Rs 278 crore with net sales rising by 2.6% YoY. The management continues to remain cautious about the overall growth trend, especially in the rural markets. The company also declares an interim dividend of Rs 18 per share for FY23.

  • Stocks like Canara Bank, IIFL Wealth Management, Shoppers Stop, and Gujarat Fluorochemicals report a YoY increase in operating profit in Q2FY23.

  • Delhivery is falling as it anticipates moderate shipment volume growth for the rest of FY23. The market sentiment remains the same in Q2 as in Q1 with consumer discretionary spending remaining muted due to high levels of inflation.

  • Shoppers Stop is falling despite reporting a net profit of Rs 16.2 crore in Q2FY23 compared to a loss of Rs 3.6 crore in Q2FY22. Revenue rises 57.7% to aid the growth in net profit. Venu Nair, MD and CEO of the company believes that customer sentiments are positive which reflects in higher footfalls, average selling price, average transaction value and other key performance indicators.

  • Stocks like Reliance Industries, Oil and Natural Gas Corp, and Oil India rise in trade as Brent crude price rises above $93 per barrel. The broader index Nifty Energy is also trading in green.

  • SBI Card's credit card transaction value market share rose to 19% in September. While Axis Bank and ICICI Bank gained market share, MoM, HDFC Bank’s market share fell in September.

  • Bharat Electronics (BEL) bags an order from Triton Electric Vehicle India to supply 300-kilowatt lithium batteries for its semi-truck project in India. The estimated value of the order is around Rs 8,060 crore. BEL has also signed an MoU with TEV for manufacturing hydrogen fuel cells with the help of technology given by TEV.

  • IndusInd Bank is falling despite its Q2FY23 net profit surging 57.4% YoY to Rs 1,805.3 crore on the back of rising loan disbursements and net interest income growing 18% YoY. The bank’s asset quality improves as its net non-performing assets fall 19 bps YoY to 0.61%. The stock shows up on the screener which lists companies with rising profits sequentially for the past four quarters.

  • Glenmark Pharmaceuticals is rising as it launches teneligliptin and dapagliflozin fixed dose combination tablets, under the brand name Zita D. The drug is for the treatment of adult patients with type two diabetes. According to IGVIA sales data, for 12 months ended September 2022, the market for oral anti-diabetic drugs in India is estimated to be Rs 11,796 crore.

  • Havells is falling as its Q2FY23 net profit falls 38.2% YoY to Rs 187 crore. Rise in raw material costs and employee benefits expenses cause the EBITDA margin to fall 460 bps YoY to 10.2%. The company features in the screener reflecting stocks with declining profits for the past two quarters.

  • Indian rupee touches a record low of 83.067 against the US dollar in early trade today.

  • Tracxn Technologies’ shares list at a 5.6% premium to the issue price of Rs 80 on its debut on the bourses. The Rs 309-crore IPO was subscribed for 2X the total shares on offer.

  • Lupin is falling as the US FDA issues Form 483 with 17 observations to the company. The prior-approval inspection was conducted at its biotech manufacturing facility in Pune. The company is working towards addressing the issues and says there will be no material impact on existing revenues from the Pune facility.

  • Persistent Systems’ Q2FY23 net profit rises 4% QoQ to Rs 220 crore with revenue rising 9% QoQ. All segments like banking, financial services & insurance, healthcare & life sciences, and software segment report an increase in revenue. The company’s large client count (>$5 million annual revenue) is up by 15% in Q2. The company shows up on the screener listing stocks with high TTM EPS growth.

Riding High:

Largecap and midcap gainers today include UPL Ltd. (713.50, 5.42%), Adani Transmission Ltd. (3,290.25, 4.73%) and Canara Bank (258.90, 3.98%).

Downers:

Largecap and midcap losers today include Schaeffler India Ltd. (2,946.00, -7.62%), PB Fintech Ltd. (400.75, -6.18%) and Au Small Finance Bank Ltd. (592.35, -5.37%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included UPL Ltd. (713.50, 5.42%), Saregama India Ltd. (392.45, 5.26%) and Vardhman Textiles Ltd. (362.15, 4.96%).

Top high volume losers on BSE were PB Fintech Ltd. (400.75, -6.18%), Johnson Controls-Hitachi Air Conditioning India Ltd. (1,304.15, -6.05%) and KNR Constructions Ltd. (205.15, -5.66%).

Rallis India Ltd. (226.20, 4.53%) was trading at 18.2 times of weekly average. Symphony Ltd. (885.15, 2.77%) and Shilpa Medicare Ltd. (323.25, -2.96%) were trading with volumes 10.7 and 7.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks overperformed with 52-week highs, while 15 stocks hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (302.00, 0.73%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,038.05, 5.34%) and EID Parry (India) Ltd. (662.00, 4.33%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (543.25, -1.72%) and Bharat Petroleum Corporation Ltd. (297.10, 1.69%).

12 stocks climbed above their 200 day SMA including Jamna Auto Industries Ltd. (114.55, 5.92%) and JK Cement Ltd. (2,684.70, 4.55%). 23 stocks slipped below their 200 SMA including Gujarat Pipavav Port Ltd. (81.70, -5.33%) and Thermax Ltd. (1,996.80, -4.02%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
19 Oct 2022
Market closes flat, Ultratech Cement's Q2 net profit falls 42.5% YoY to Rs 756 crore

Trendlyne Analysis

Nifty 50 fell over 100 points from the day's high but still closed marginally higher. Indian indices closed in the green for a fourth straight session. The Indian rupee touched a lifetime low of 82.77 against the US dollar. European stocks traded mixed as UK inflation rises 10.1 % in September up from 9.9 % in August. Major Asian indices closed mixed, despite the US indices closing higher on Tuesday. US stocks extended their gains from Monday on the back of better-than-expected quarterly results from companies like Goldman Sachs and Lockheed Martin. The tech-heavy NASDAQ 100 rose 0.8% while the Dow Jones closed 1.1% higher. Brent crude oil futures traded flat after falling nearly 1.5% on Tuesday.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Bank and Nifty Energy closed higher than Tuesday’s levels. Nifty IT closed in the red, despite the NASDAQ 100 closing higher on Tuesday.

Nifty 50closed at 17,518.85 (31.9, 0.2%), BSE Sensexclosed at 59,107.19 (146.6, 0.3%) while the broader Nifty 500closed at 15,072.45 (15.9, 0.1%)

Market breadth is in the red. Of the 1,937 stocks traded today, 838 were gainers and 1,041 were losers.

  • Stocks like Castrol India, Godfrey Phillips India, Chalet Hotels, and Ritesare in the overboughtzone, according to the Money Flow Index or MFI.

  • FNS E-Commerce Ventures (Nykaa)hit its all-time lowof Rs 1,130. The stock falls for seven consecutive sessions.

  • Nestle India, PI Industries, and AstraZeneca Pharmatrade above their second resistance or R2 level as market trades higher.

  • Indian rupee touches a new lifetime low of 82.77 against the US dollar in trade today.

  • Ultratech Cement is falling as its Q2FY23 net profit falls 42.5% YoY to Rs 756 crore however, net sales rise 15.8% YoY. The company also reports an increase in raw material costs, energy costs and logistics costs in Q2. Its net debt also increased by 32% YoY. The company shows up on the screener listing stocks with declining net profit and profit margin.

  • KPIT Technologies is falling as its Q2FY23 net profit declines 2.3% QoQ to Rs 83.5 crore due to an increase in employee benefit costs and other expenses. However, revenue grows 8.6% QoQ driven by an 18.4% QoQ rise in revenue from the UK & Europe segment.

  • Adani Enterprises' arm Adani Defence and Aerospace inks an agreement to acquire Air Works for Rs 400 crore. Air Works is a maintenance, repair and overhaul organization for defence and aerospace platform.

  • Utilities, Forest Materials, and Commercial Services & Supplies sectors fall by more than 8% over the past month

  • India’s domestic air passenger traffic rises 46.5% to 10.36 million in September. Indigo’s passenger load factor rises to 81.4%, while its market share remains unchanged at 57.7%.

  • HDFC Securities maintains its ‘Buy’ rating on Oberoi Realty with a target price of Rs 1,138. This implies an upside of 32.6%. The brokerage is optimistic about the company’s future revenue growth prospects given its strong launch momentum, robust sales pipeline, and healthy balance sheet. It expects the company’s revenue to grow at a CAGR of 18.9% over FY22-25.

  • Prestige Estates Projects is rising as Q2FY23 sales rises 66% YoY to Rs 3,511 crore and collection rises 68% YoY to Rs 2,602.9 crore. During H1FY23, the company's sales rises 129% YoY to Rs 6,523.1 crore.

  • Nestle'sQ2FY23 net profit rises 8.3% YoY to Rs 668 crore with revenue increasing by 18% YoY. Rise in revenue is led by an increase in both domestic and export sales. Nestle also sees growth in product segments like prepared dishes, milk products, confectionary and beverages. The company declares a second interim dividend of Rs 120 per share for FY23.

  • TV18 Broadcast is falling as its Q2FY23 net profit drops 96% YoY to Rs 5.7 crore despite its revenue rising 12.7% YoY. Profit falls due to a significant increase in operational costs and marketing expenses.

  • Apollo Tyres is rising in trade as JP Morgan initiates coverage with an ‘Overweight’ rating and a target price of Rs 380. The brokerage is positive about the company's focus towards market share gains and pricing.

  • Bharat Electronics is rising as it signs an MoU with Munitions India to cooperate and address the requirements of Indian defence and export markets in the areas of ammunition, explosives, and related systems.

  • Piramal Pharma shares list on the bourses today after demerging with Piramal Enterprises. The company’s board approved the demerger in October 2021.

  • L&T Technology Services is falling despite its Q2FY23 net profit rising 3% QoQ to Rs 282.4 crore. Revenue grows by 6.5% QoQ driven by the growth in the transportation segment. The stock shows up on the screener for companies with profits increasing sequentially for the past four quarters.

  • Reliance Jio gains 32.8 lakh wireless subscribers in August on a net basis, while Bharti Airtel adds a net 3.26 lakh subscribers. Vodafone Idea loses 19.6 lakh subscribers.

  • Stocks like Tata Coffee, ICICI Lombard General Insurance, and HFCL report a QoQ rise in net profit in Q2FY23.

  • OFI Global China Fund sells a 5% stake (4.8 crore shares) in Zee Entertainment for Rs 1,272 crore in a bulk deal on Tuesday. In another deal, Nomura India Investment Fund picked up a 0.7% stake in Zee Entertainment for Rs 164.7 crore.

  • Schaeffler India’s Q2FY23 net profit rises 26% YoY to Rs 215.3 crore with revenue increasing 18% YoY. All segments report a growth in revenue with the automotive technology segment contributing maximum towards revenue growth (28% YoY rise) in Q2 despite high inflation across the market. The company shows up on a screener of stocks with strong annual EPS growth.

Riding High:

Largecap and midcap gainers today include Container Corporation of India Ltd. (771.25, 6.91%), Syngene International Ltd. (589.25, 6.31%) and Sona BLW Precision Forgings Ltd. (485.55, 4.53%).

Downers:

Largecap and midcap losers today include Astral Ltd. (2,057.45, -5.22%), L&T Technology Services Ltd. (3,495.05, -4.90%) and NHPC Ltd. (40.20, -4.17%).

Volume Shockers

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

Top high volume gainers on BSE included Suzlon Energy Ltd. (9.25, 19.35%), Aegis Logistics Ltd. (299.80, 9.30%) and PNB Housing Finance Ltd. (425.20, 8.03%).

Top high volume losers on BSE were TV18 Broadcast Ltd. (35.20, -6.26%), L&T Technology Services Ltd. (3,495.05, -4.90%) and KPIT Technologies Ltd. (649.55, -1.62%).

Sundaram Clayton Ltd. (4,601.15, 1.77%) was trading at 11.7 times of weekly average. Syngene International Ltd. (589.25, 6.31%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,827.80, -0.11%) were trading with volumes 10.1 and 9.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks took off, crossing 52-week highs, while 12 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (299.80, 9.30%), City Union Bank Ltd. (193.20, -0.08%) and Coal India Ltd. (238.20, -1.45%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (552.75, -1.32%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,367.70, -0.74%).

24 stocks climbed above their 200 day SMA including Suzlon Energy Ltd. (9.25, 19.35%) and Syngene International Ltd. (589.25, 6.31%). 9 stocks slipped below their 200 SMA including Edelweiss Financial Services Ltd. (57.90, -2.69%) and Bata India Ltd. (1,838.55, -1.55%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
18 Oct 2022
Market closes higher, Gujarat Fluorochemicals' Q2 net profit surges 74.4% YoY

Trendlyne Analysis

Indian indices closed in the green, with the volatility index, India VIX, falling significantly. The Nifty 50 rose over 150 points and closed above its 50-day simple moving average or SMA. European stocks traded higher as the UK's new Finance Minister Jeremy Hunt reversed previous tax cuts in the mini budget on Monday.

Major Asian indices closed in the green, in line with the US indices which closed sharply higher on Monday. US stocks rose on the back of strong earnings led by Bank of America, which rose over 6% after its earnings release. The tech-heavy NASDAQ 100 index rose nearly 3.5% while the Dow Jones closed 1.9% higher. Brent crude oil futures traded lower as markets weigh tightening supply against rising recession concerns that could affect demand for crude oil.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Metal and Nifty Media open higher than Monday’s close. Nifty IT closed in the green, tracking the tech-heavy NASDAQ 100, which closed 3.5% higher on Monday.

Nifty 50closed at 17,490.60 (178.8, 1.0%), BSE Sensexclosed at 58,960.60 (549.6, 0.9%) while the broader Nifty 500closed at 15,061.95 (155.8, 1.1%)

Market breadth is in the green. Of the 1,931 stocks traded today, 1,153 were in the positive territory and 709 were negative.

  • Stocks like Godfrey Phillips India, Mazagon Dock Shipbuilders, Sun Pharmaceutical Industries, and Rajesh Exportsare in the overbought zone, according to the relative strength index or RSI.

  • Tata Communications’ Q2FY23 net profit falls 2.1% QoQ to Rs 532.3 crore as finance costs for the company rise 22% QoQ. However, revenue increases by 2.8% QoQ because of an increase in revenue from data services and payment solutions. The company shows up on a screener which lists stocks with improving RoCE in the last two years.

  • Indian Bankand City Union Bankhit their 52-week highs of Rs 214.5 and Rs 195.3, respectively. Indian Bank rises for two consecutive sessions, while City Union Bank trades higher for three sessions.

  • Gujarat Fluorochemicals is rising as its Q2FY23 net profit surges 74.4% YoY to Rs 361.2 crore and revenue increases by 51.6% YoY. The company’s board announces an interim dividend of Rs 2 per share for FY23, which will be paid by November 17. The stock shows up on the screener which lists companies with increasing revenue sequentially for the past eight quarters.

  • SKF India, Siemens, and Vedant Fashions trade above their third resistance or R3 level as market trades higher.

  • Computer Hardware, Marine Ports & Services, and Internet & Catalogue Retail industries fall over 10% in trade over the past month.

  • Zee Entertainment is rising in trade as 53 million shares (5.5% stake) amounting to Rs 1,396 crore change hands in a block deal, according to reports. Reports suggest that Invesco Developing Markets Fund considered selling half of its stake in the company.

  • Alembic Pharma is falling as the US Food and Drugs Administration issues a form 483 with four procedural observations to the company. The inspection was conducted at the company’s oncology injectable formulation facility in Panelav, Gujarat. The company says none of the observations are related to data integrity.

  • Media stocks like Zee Entertainment, PVR, and Network 18 Media & Investments rise more than 2% in trade. The broader Nifty Media index trades above 1.8%.

  • Nifty 50was trading at 17,496.75 (185.0, 1.1%), BSE Sensexwas trading at 58,967.55 (556.6, 1.0%) while the broader Nifty 500was trading at 15,054.90 (1.00%).

  • Market breadth is surging up. Of the 1,912 stocks traded today, 1,281 were gainers and 551 were losers.

  • Gland Pharma is rising as Morgan Stanley initiates coverage with an ‘Overweight’ rating and a target price of Rs 2,748.The brokerage is positive on the company given its strong presence in a difficult injectable category and robust balance sheet.

  • EKI Energy is rising as it announces a partnership with Impact Capital Asset Management Pte (ICAM), a Singapore-based fund management company, to start a climate impact fund to help in the development of projects that mitigate climate change. The fund is worth Rs 1,000 crore with EKI investing Rs 200 crore and the rest will be raised by ICAM from institutional investors. The fund will be incorporated as a Variable Capital Company (VCC) with EKI holding a 51% stake in the company.

  • ONGC plans to buy a stake in a Russian firm that will manage the Sakhalin 1 project located in Russia through its arm ONGC Videsh, according to reports. ONGC Videsh considers buying the additional stake in the project if it is commercially viable.

  • KRChoksey maintains its ‘Accumulate’ rating on Tata Elxsi with a target price of Rs 8,884. This indicates an upside of 14.1%. The brokerage is positive about the company’s future growth potential as it expects strong deal wins across business segments, new client additions, and robust traction in its transportation and medical segment. It anticipates the company’s revenue to grow at a CAGR of 23.3% over FY22-24.

  • Mahindra & Mahindra Financial Services is rising as the company enters a strategic partnership with India Post Payments Bank (IPPB). India Post Payments Bank will provide lead referral services to Mahindra & Mahindra Financial Services for passenger vehicles, three-wheeler, tractors and commercial vehicle loan categories and cash EMI deposit facility to existing Mahindra & Mahindra Financial Services customers at post offices.

  • Suzlon Energy is rising as it secures an order from Adani Green Energy to develop a 48.3 MW wind power project. The company will install 23 wind turbine generators with a rated capacity of 2.1 MW each. The project is located in Gujarat and is expected to be commissioned in 2023. This is a repeat order from Adani Green Energy, in addition to an existing order for developing a 226.8 MW wind power project.

  • Sunil Singhaniasells stake in Paras Defence and Space Technologiesduring Q2FY23, now holds below 1% as against 1.3% in Q1FY23.

  • Container Corp of India is rising as its total volumes grow 16.6% YoY to 11.4 lakh units in Q2FY23. A rise in the export-import volume of 18.4% aids growth in total volume. The company features in the screener showing stocks with improving book value per share over the past two years.

  • Samvardhana Motherson International falls over 6% as 14.5 crore shares (4.6% equity) amounting to Rs 951.9 crore change hands in a large trade, according to reports.

  • Tata Coffee is rising as its Q2FY23 net profit jumps 4X YoY to Rs 142 crore which includes an exceptional item from profit from the sale of property worth Rs 105 crore. Revenue increases 30% YoY in Q2. The company shows up on a screener of stocks giving consistent high returns over the last five years.

  • Adani Transmission’s total energy units sold rises 13% YoY to 2.2 billion units in Q2FY23 driven by an increase in energy demand led by the commercial and industrial segments. The stock shows up on the screener for companies with revenue increasing sequentially for the past three quarters.

  • Can Fin Homes Q2FY23 net profit rise 14.6% YoY to Rs 141.7 crore as net interest income increases 31% YoY. Net interest margin rises marginally and asset quality improves in Q2. Gross NPA and net NPA go down by 16 bps and 12 bps YoY, respectively. The company shows up on a screener listing stocks with improving profit margins YoY.

Riding High:

Largecap and midcap gainers today include Bharat Heavy Electricals Ltd. (68.20, 8.34%), NHPC Ltd. (41.95, 6.61%) and Adani Transmission Ltd. (3,243.00, 5.49%).

Downers:

Largecap and midcap losers today include Tata Elxsi Ltd. (7,204.65, -7.43%), Aarti Industries Ltd. (744.90, -5.48%) and Max Healthcare Institute Ltd. (407.45, -2.87%).

Volume Shockers

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

Top high volume gainers on BSE included Bharat Heavy Electricals Ltd. (68.20, 8.34%), RHI Magnesita India Ltd. (718.35, 7.02%) and Gujarat Alkalies & Chemicals Ltd. (926.80, 6.00%).

Top high volume losers on BSE were Tata Elxsi Ltd. (7,204.65, -7.43%), Alok Industries Ltd. (15.80, -1.86%) and Crisil Ltd. (3,040.35, -1.14%).

Polycab India Ltd. (2,749.05, 4.97%) was trading at 7.7 times of weekly average. Network 18 Media & Investments Ltd. (70.00, 5.42%) and SJVN Ltd. (32.70, 1.40%) were trading with volumes 7.0 and 6.1 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 10 stocks hit their 52-week lows.

Stocks touching their year highs included - City Union Bank Ltd. (193.35, 0.13%), Coal India Ltd. (241.70, 1.55%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (965.45, -0.07%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (560.15, -1.91%) and Johnson Controls-Hitachi Air Conditioning India Ltd. (1,366.05, 0.04%).

20 stocks climbed above their 200 day SMA including Honeywell Automation India Ltd. (39,872.15, 3.70%) and SBI Cards and Payment Services Ltd. (883.70, 2.94%). 8 stocks slipped below their 200 SMA including Tata Elxsi Ltd. (7,204.65, -7.43%) and IFB Industries Ltd. (935.30, -2.42%).