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Trendlyne Analysis

Indian indices pared their early gains but closed in the green, with the volatility index, India VIX, falling significantly. The Nifty 50 rose close to 125 points and closed above the 17,650 mark. Investors look ahead to the domestic consumer price index or CPI print, to be released on Friday. European indices followed the global trend and traded higher than Wednesday’s levels. Major Asian indices closed higher, tacking the US indices, which closed sharply higher on Wednesday. US stocks rose as US July CPI rose 8.5%, 200 bps below analysts’ expectations. The tech-heavy index, NASDAQ 100, rose 2.9% while the Dow Jones closed 1.6% higher. Brent crude oil futures traded higher after closing in the green on a volatile day of trade on Wednesday.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Bank and Nifty Realty closed higher than Wednesday’s levels. Nifty IT closed sharply higher, taking cues from the NASDAQ 100, which closed in the green on Wednesday.

Nifty 50closed at 17,659.00 (124.3, 0.7%), BSE Sensexclosed at 59,332.60 (515.3, 0.9%) while the broader Nifty 500closed at 15,095.15 (109.4, 0.7%)

Market breadth is balanced. Of the 1,897 stocks traded today, 936 showed gains, and 901 showed losses.

• CSB Bank, Ajanta Pharma, Aditya Birla Sun Life AMC, and GlaxoSmithKline Pharmaceuticals are trading with higher volumesas compared to Wednesday.

• Mahanagar Gas sees a long build-up in its August 25 future series as its open interest rises 16.7% with a put-call ratio of 0.69.

• Jefferies India says the consensus Nifty EPS estimates are down by 2.5% for FY23 after the Q1FY23 results season.

  #BeatTheStreet | @mahnandurkar of @jefferies says
  
  - Might see more earnings estimate cuts going forward
  - Continue to be positive on banking/financials
  
  Listen in to his market outlook@nikunjdalmia@ayeshafaridi1#StocksToWatch#StockMarketpic.twitter.com/oxwuEdKuCw

  — ET NOW (@ETNOWlive) August 11, 2022

• Stocks like Fine Organic Industries, Adani Enterprises, Tata Chemicals, IDFC First Bank, and ZF Commercial Vehicle Control Systems India are in the overbought zone, according to the technical indicator relative strength index or RSI.

• IDBI Capital downgrades Indian Hotels to 'Hold' rating from 'Buy' with a target price of Rs 302, indicating an upside of 12%. The brokerage believes that the company's focus on revenue growth, cost optimization, and increasing demand in the business travel segment will help in growth. It expects Indian Hotels' revenue to rise 76% YoY in FY23.

• Trent rises to touch a new 52-week high as it posts a profit of Rs 130.5 crore in Q1FY23 compared to a loss of Rs 126.6 crore in Q1FY22. Revenue rises 3.6X YoY which helps boost profit despite a significant rise in input costs. It shows up on a screener with stocks that are overbought according to the technical indicator money flow index.

• JMC Projects receives new orders worth Rs 1,524 crore. The orders include engineering, procurement and construction project for integrated airport development, water projects, and buildings and factories projects in India.

• Sapphire Foods is back in black as it reports a net profit of Rs 38.2 crore in Q1FY23 compared to a loss of Rs 26 crore in Q1FY22. Revenue increased because of an increase in restaurant sales by 80% YoY. The stock shows up in the screener where mutual funds increased their holding in the last quarter.

• Medplus Health Services hits an all-time low of Rs 690.4, as its Q1FY23 net profit falls 92.1% YoY to Rs 3.7 crore.

• ICICI Securities maintains its 'Buy' rating on Eicher Motors and increases target price to Rs 3,640, indicating an upside of 15.4%. The brokerage believes that stability in input prices and improvement in scale would help increase profitability of the two-wheeler portfolio in FY23. The increase in target price is driven by 7% rise in FY24E earnings and valuation rollover by a quarter.

• Godrej Agrovet's promoter Godrej Industries acquires 54,793 shares in the company for Rs 2.7 crore through open market.

• Aerospace, Integrated oil & gas and IT Training Services industries rise more than 3% in trade today.

• Mazagon Dock Shipbuilders is trading with more than 16 times its weekly average trading volume. Home First Finance Company India, Uflex, Endurance Technologies, and Medplus Health Services are trading at more than four times their weekly average trading volumes.

• Consumer durables stocks like Titan, Voltas, Aditya Birla Fashion and Retail, Crompton Greaves Consumer Electricals and Whirlpool of India are rising in trade. The broader sectoral index BSE Consumer Durables is also trading in the green.

• Axis Securities maintains its ‘Buy’ rating on Bharti Airtel with a target price of Rs 900, indicating an upside of 28%. The brokerage remains positive on the company’s prospects given its healthy margins, robust subscriber growth, and high 4G conversions. It estimates the company’s net profit to grow at a CAGR of 103.2% over FY22-24.

• Indian Railway Catering & Tourism Corp is falling even though its Q1FY23 net profit surges nearly 3X YoY and revenue jumps 3.5X YoY on a low base in Q1FY22. This significant rise in revenue is mostly driven by the catering, internet ticketing, and tourism segments. However, the operating margin falls by 8.2 percentage points YoY as the catering services and tourism expenses increase manifold.

• Oil India is rising as its Q1FY23 net profit jumps 2.6X YoY to Rs 2,805.2 crore despite an increase in raw material cost by 2.9X and an increase in excise duties. However, high oil prices result in an increase in revenue by 85% YoY. Revenue from all segments, like, crude oil, natural gas, refinery products, and LPG see a substantial increase in Q1.

• Tata Consumer Products is falling despite its net profit rising 38% YoY to Rs 255.5 crore. Profit rises on the back of rising revenue from the India business. Revenue growth is driven by the salt and tea segments. The salt business gains market share amid high input costs, as its premium salt products portfolio improves penetration. Falling raw material costs in the tea business offset inflationary pressure in the salt business and high advertisement costs, aiding margin expansion. EBITDA margin rises 40 bps YoY to 13.8%.

• Steel Authority of India (SAIL) falls as its Q1FY23 net profit drops 79.3% YoY to Rs 804.5 crore. Rise in cost of raw materials and employee benefits expenses results in EBITDA margin taking a large fall of 22.2 percentage points to 9.6%. Rise in revenue from the Bhilai and Rourkela steel plants aids total revenue growth.

• Airline stocks like InterGlobe Aviation (IndiGo) and Spicejet are rising after the Centre’s Ministry of Civil Aviation removes restrictions on ticket prices that were imposed two years ago amid the coronavirus pandemic.

  Domestic Airlines' Shares Get A Boost As Cap On Ticket Prices Lifts https://t.co/l9AJf3Rec1pic.twitter.com/WH8qnmP9JZ

  — NDTV Profit (@NDTVProfit) August 11, 2022

• Eicher Motors’ touches a 52-week high of Rs 3,256 as its Q1FY23 net profit surges 2.5X YoY to Rs 611 crore. This is despite a rise in expenses because of input cost inflation and semi-conductor shortage. Current tax expenses also shot up 104%. Managing Director Siddharth Lal says international revenues increased due to rise in demand for Royal Enfield bikes. Royal Enfield's wholesales in Q1 rose 52% YoY.

• Coal India’s Q1FY23 net profit surges 2.7X YoY to Rs 8,832 crore. This is because of a 91.6% YoY jump in sales from the e-auction segment. Total sales are up as demand for power is high across India. Coal production also increased 28.9% YoY.

Riding High:

Largecap and midcap gainers today include Indraprastha Gas Ltd. (408.10, 7.45%), Cummins India Ltd. (1,237.60, 6.03%) and Aditya Birla Fashion and Retail Ltd. (291.30, 5.09%).

Downers:

Largecap and midcap losers today include Abbott India Ltd. (18,917.55, -3.50%), Tube Investments of India Ltd. (2,241.65, -3.32%) and Tata Consumer Products Ltd. (773.45, -2.16%).

Volume Shockers

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

Top high volume gainers on BSE included BEML Ltd. (1,783.20, 16.14%), Affle (India) Ltd. (1,185.55, 7.64%) and Asahi India Glass Ltd. (564.45, 7.58%).

Top high volume losers on BSE were Capri Global Capital Ltd. (687.95, -3.77%), Metropolis Healthcare Ltd. (1,493.45, -1.72%) and Endurance Technologies Ltd. (1,415.40, -1.25%).

Mazagon Dock Shipbuilders Ltd. (297.45, 5.03%) was trading at 24.2 times of weekly average. Greaves Cotton Ltd. (165.25, 1.63%) and Uflex Ltd. (670.40, 7.04%) were trading with volumes 9.0 and 8.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks hit their 52-week highs, while 2 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (2,640.65, 2.27%), Bank of Baroda (123.20, 3.83%) and Bharat Electronics Ltd. (287.45, 0.02%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (650.05, -0.43%) and Medplus Health Services Ltd. (723.30, 0.72%).

27 stocks climbed above their 200 day SMA including BEML Ltd. (1,783.20, 16.14%) and Affle (India) Ltd. (1,185.55, 7.64%). 15 stocks slipped below their 200 SMA including Cholamandalam Financial Holdings Ltd. (651.30, -2.36%) and Apollo Hospitals Enterprise Ltd. (4,429.65, -1.94%).

Trendlyne Analysis

Indian indices closed flat after gyrating between losses and gains on a volatile day of trade. European indices followed the global trend and traded lower than Tuesday’s levels. Major Asian indices closed in the red, tracking the US indices which closed lower on Tuesday. US stocks fell as investors look ahead to the US inflation print release scheduled later today. The tech-heavy index, NASDAQ 100 fell 1.2% while the S&P 500 closed 0.4% lower. Brent crude oil futures traded lower after a volatile day of trade on Tuesday. Tight crude oil supply due to the geopolitical crisis, and fears of slow economic growth remain the key factors affecting the crude oil price.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, despite the benchmark index closing flat. Nifty Metal and Nifty Auto closed higher than Monday’s levels. Nifty IT closed lower, taking cues from the NASDAQ 100, which fell 1.2% on Tuesday.

Nifty 50closed at 17,534.75 (9.7, 0.1%), BSE Sensexclosed at 58,817.29 (-35.8, -0.1%) while the broader Nifty 500closed at 14,985.80 (-7.6, -0.1%)

Market breadth is in the red. Of the 1,897 stocks traded today, 772 showed gains, and 1,080 showed losses.

• Crisil, Thermax, SIS, and Carborundum Universal are trading with higher volumesas compared to Monday.

• Tata Chemicalssees a long build-up in its August 25 future series as its open interest rises 49.9% with a put-call ratio of 0.88.

• Tata Power is rising in trade as the company will set up EV charging points across JP Infra’s residential projects in order to promote sustainable mobility in Mumbai.

• #JustIn | Tata Power to set up #EV charging points across JP Infra's residential projects pic.twitter.com/BJPhOJZJTh

  — CNBC-TV18 (@CNBCTV18Live) August 10, 2022

• Stocks like ZF Commercial Vehicle Control Systems India, Pidilite Industries, Bajaj Finance, IDFC First Bank, and Adani Enterprises are in the overbought zone, according to the technical indicator relative strength index or RSI.

• Apollo Hospitals Enterprise is rising as it acquires a hospital facility in Gurugram, Haryana. It acquires the asset from Nayati Healthcare for a total consideration of Rs 450 crore. This hospital facility is situated in the hospital zoned land, with a potential of 650 beds spread across 7 lakh square feet. The integrated healthcare complex is set to be commissioned in a span of 24 months.

• Public sector banks like State Bank of India, Punjab National Bank, Indian Overseas Bank, Union Bank of India and Bank of India are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in the red.

• Hindalco is rising as its Q1FY23 net profit rises 47.8% YoY to Rs 4,119 crore as revenue from Novelis (subsidiary of Hindalco), aluminium (both upstream and downstream) and copper segments rise. Novelis’ revenue grew 38% YoY because of better product pricing and a favourable product mix. The company’s net debt falls 23% YoY in Q1.

• ICICI Securities maintains its ‘Buy’ rating on Indraprastha Gas with a target price of Rs 540. This indicates an upside of 50.4%. The brokerage expects a growing addressable market, cost pass-through mechanisms and rising demand will support strong sales volume growth in the coming quarters. It estimates the company’s revenue to grow at a CAGR of 12% over FY22-24.

• Tata Chemicals is trading with more than ten times its weekly average trading volume.City Union Bank, Galaxy Surfactants, G R Infraprojects, and Fine Organic Industries are trading at more than seven times their weekly average trading volumes.

• NBCC (India) is rising in trade after it bags three work orders worth Rs 258 crore. This includes a Memorandum of Understanding (MOU) with the Centre’s Ministry of External Affairs for redevelopment of an old housing complex in New Delhi.

  #StocksInNews | NBCC gets work orders worth Rs 258 cr, as per agencies #StockMarket#StocksToWatch#NBCCpic.twitter.com/fSqQd78UZL

  — ET NOW (@ETNOWlive) August 10, 2022

• Tata Chemicals is rising as its net profit surges 2X YoY to Rs 589 crore on the back of higher realisations across all its business verticals. Profit rises as strong demand and higher realisations offset elevated raw material, logistics, and energy costs. Revenue rises 34.2% YoY to Rs 3,995 crore on the back of robust demand for soda ash across geographies. EBITDA margin rises 500 bps YoY to 25%.

• AIA Engineering hits a 52-week high of Rs 2,650 as its Q1FY23 net profit rises 27.6% YoY to Rs 190.4 crore. Revenues surge 45% YoY because of improved supply-chain and customer demand. However, its freight outward expenses are on a higher side as it rose 72% YoY, but the management expects the prices to cool off in the coming quarters. The company expects capex of Rs 300 crore in FY23 which includes projects like Mill Lining and hybrid and solar power project.

• EKI Energy is falling after India's Minister for New and Renewable Energy RK Singh says India will not allow export of carbon credits till its commitment of cutting carbon emission intensity of its GDP by 45% is met.

  Shares of #EKIEnergy slump over 17%, the most since May 17. #BQStockshttps://t.co/Y6xHVnfh1a

  — BQ Prime (@bqprime) August 10, 2022

• Indian Hotels is rising as its net profit jumps 2.3X QoQ to Rs 170.1 crore. Profit rises as a surge in demand leads to occupancy rates and average room rates exceeding pre-Covid levels. Revenue grows 45.2% QoQ to Rs 1,266.1 crore driven by a rise in revenue from room and food & beverage services. EBITDA margin in Q1FY23 rises by 11.4 percentage points to 31.3% over the pre-pandemic levels of Q1FY20.

• JSW Energy's arm JSW Neo Energy agrees to acquire a portfolio of 1,753 MW of renewable energy generation capacity from Mytrah Energy for Rs 10,531 crore

  This is the largest acquisition made by JSW Energy since inception, and will propel its current operational generation capacity by over 35% to 6,537 MW from 4,784 MW.
  
  (@swarajdhanjal reports)https://t.co/RPmMCL5kzk

  — Mint (@livemint) August 10, 2022

• One97 Communications (Paytm) partners with Piramal Capital & Housing Finance (Piramal Finance) to offer loans to merchants and small businesses. This partnership will enable Paytm to expand its loan distribution to small cities and towns of India. Paytm plans to disburse loans worth Rs 10 lakh with a repayment period of 6-24 months.

• All IT stocks are trading in the red. Stocks like Infosys, HCL Technologies, Wipro, Tech Mahindra and Larsen & Toubro Infotech are down by more than 1.5%. The broader sectoral index Nifty IT is also falling in trade.

• Delhivery is falling as its Q1FY23 net loss widens to Rs 399 crore compared to Rs 129.5 crore in Q1FY22. The management attributes this to one-time events like spends on increase in capacity, rise in fuel prices, rent and wages. The company’s freight handling and servicing costs are up 67% and depreciation expenses surge 2.2X YoY. However, revenue increases 32.5% to Rs 1,745 crore as the number of express parcel shipments goes up. Revenue from services increases with cross-border services revenue increasing 53% YoY.

• Power Grid Corp of India is falling as its net profit declines 36.6% to Rs 3,801.2 crore. Profit falls due to rising employee benefit expenses and other expenses. Revenue grows 6.7% YoY led by the transmission segment’s revenue rising 5.9% YoY to Rs 10,703 crore. The company’s revenue from the consultancy and telecom segments increases by 50.6% and 60.2%, respectively. Its operating margin falls 327 bps YoY to 84.8%.

• Adani Ports and SEZ's Q1FY23 net profit is down 16% YoY to Rs 1,072.4 crore due to a 3.1X surge in forex losses (Rs 1,201.1 crore). Revenue rose marginally by 0.7% YoY. The management is positive about future growth as it plans to commission two more terminals for cargo handling. Its Q1FY23 cargo volumes were up 8% YoY.

Riding High:

Largecap and midcap gainers today include Indraprastha Gas Ltd. (379.80, 5.87%), Hindalco Industries Ltd. (440.10, 4.44%) and Adani Power Ltd. (339.75, 3.39%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (186.90, -5.58%), MRF Ltd. (83,466.60, -4.85%) and 3M India Ltd. (22,750.30, -4.11%).

Volume Rockets

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

Top high volume gainers on BSE included Fine Organic Industries Ltd. (6,737.85, 15.63%), Tata Chemicals Ltd. (1,074.15, 12.24%) and JK Paper Ltd. (422.60, 8.67%).

Top high volume losers on BSE were Natco Pharma Ltd. (672.85, -10.35%), Suven Pharmaceuticals Ltd. (439.00, -8.64%) and 3M India Ltd. (22,750.30, -4.11%).

City Union Bank Ltd. (176.70, 8.54%) was trading at 12.9 times of weekly average. G R Infraprojects Ltd. (1,405.85, 6.23%) and Galaxy Surfactants Ltd. (3,228.45, 2.43%) were trading with volumes 9.9 and 9.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

24 stocks made 52-week highs, while 2 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (283.45, -1.60%), AIA Engineering Ltd. (2,582.00, 7.80%) and Bharat Electronics Ltd. (287.40, 1.97%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (652.85, -1.64%) and Zensar Technologies Ltd. (234.55, 2.27%).

15 stocks climbed above their 200 day SMA including NCC Ltd. (66.30, 4.16%) and Narayana Hrudayalaya Ltd. (681.10, 3.25%). 24 stocks slipped below their 200 SMA including Avanti Feeds Ltd. (463.95, -9.51%) and eClerx Services Ltd. (2,144.00, -6.97%).

Trendlyne Analysis

Indian indices closed in the green, with the Indian volatility index, India VIX, rising over 19%. The Nifty 50 rose over 125 points and closed above the 17,500 mark. European shares bounced back from their fall on Friday and traded higher. Asian indices closed mixed, tracking the US indices, which closed mixed on Friday. US stocks closed mixed as stronger than expected US jobs report raised concerns about the US Federal Reserve maintaining its aggressive monetary policy to tackle inflation. The tech-heavy index, NASDAQ 100 fell 0.8% while the Dow Jones closed 0.2% higher. Brent crude oil futures traded flat after falling about 9% last week amid demand concerns.

Nifty Smallcap 100 and Nifty Midcap 1000 closed in the green, following the benchmark index. Nifty Metal and Nifty Auto closed higher than Friday’s levels. Nifty IT closed flat, despite the NASDAQ 100 closing in the red on Friday.

Nifty 50 closed at 17,525.10 (127.6, 0.7%) , BSE Sensex closed at 58,853.07 (465.1, 0.8%) while the broader Nifty 500 closed at 14,993.35 (93.0, 0.6%)

Market breadth is in the green. Of the 1,917 stocks traded today, 1,017 were in the positive territory and 851 were negative.

• Crisil, Thermax, SIS, and Carborundum Universal are trading with higher volumes as compared to Friday.

• Hindustan Aeronautics sees a long build-up in its August 25 future series as its open interest rises 10.6% with a put-call ratio of 0.72.

• Spicejetfalls in trade after IDFC, YES Bank, Indian Bank categorize the loans in the airlines' name under the high-risk category, according to reports.

• Stocks like Asian Paints, Pidilite Industries, Bajaj Finance, MRF, and Adani Total Gasare in the overbought zone, according to the technical indicator relative strength index or RSI.

• Marico is rising as its Q1FY23 net profit grows 4.2% YoY to Rs 371 crore. Headwinds in sales of Saffola Oils results in a muted rise in revenues of 1.3% YoY to Rs 2,558 crore. Drop in cost of raw materials aids the EBITDA margin to grow 300 bps YoY to 31.2%.

• Zensar Technologies touches a 52-week low of Rs 226.2 as its Q1FY23 net profit falls 42% QoQ to Rs 75 crore. However, revenue rises 4% QoQ with revenue from digital and application services increasing 4.9%. Revenue from the US and Europe regions grow more than 2% QoQ in constant currency in Q1.

• Aditya Saraogi, Chief Financial Officer at Birla Corp, says that Q2FY23 would be a seasonally weaker quarter for the cement industry. He expects the company's EBITDA per tonne for FY23 to be around Rs 750 per tonne and volumes to grow at 15%.

  #OnCNBCTV18 | Expect EBITDA/t to hover around ?750/t, which is around FY22 levels. Expect net debt to hover around ?4,000 crore to ?4,500 crore, says Aditya Saraogi of Birla Corporation pic.twitter.com/HqYHLuUaTJ

  — CNBC-TV18 (@CNBCTV18Live) August 8, 2022

• Capital goods stocks like Hindustan Aeronautics, Siemens, Suzlon Energy, Grindwell Norton, and KNR Constructions are rising in trade. The broader sectoral index BSE Cap Goods is also trading in the green.

• Promoter & Director Vishad D Mafatlal sells 1.5 lakh shares (0.3% stake) worth Rs 64.3 crore in Navin Flourine International in an insider trade on Friday. Mafatlal says this trade was done for charity and personal reasons.

• Affle (India) trades flat despite its Q1FY23 net profit rising 52.6% YoY to Rs 54.4 crore. Revenue from cost per converted user (CPCU) services rises 144% YoY across India and international markets. This helped total revenue to rise 127.9% YoY to Rs 347.5 crore.

• Sudarshan Chemical Industries is trading with more than six times its weekly average trading volume. Mahanagar Gas, ZF Commercial Vehicle Control Systems India, Hitachi Energy India, and BASF India are trading at more than three times their weekly average trading volumes.

• Edelweiss maintains its ‘Buy’ rating on Aditya Birla Fashion & Retail with a target price of Rs 398. This indicates an upside of 43%. The brokerage remains positive on the company’s prospects as its margins expanded during Q1FY23 despite inflationary pressure. It believes the company’s growth momentum will continue in the coming quarters due to price hikes, an improving product mix, and a recovery in the Pantaloons segment. The brokerage expects the company’s revenue to grow at a CAGR of 25.8% over FY22-24.

• Metal stocks like JSW Steel, Tata Steel, Vedanta, Hindalco Industries, Jindal Steel & Power and NMDC are rising in trade. The broader sectoral index BSE Metal is also trading in the green.

• Mahanagar Gas is rising despite its Q1FY23 net profit falling 9.2% YoY to Rs 185.2 crore. Profit falls as the cost of natural gas jumps more than 5X YoY. Its revenue grows 2.4X YoY on total gas sales rising 44% YoY driven by soaring compressed natural gas sales. However, the rise in sales is offset by elevated prices of natural gas, leading to its operating margin dropping by 27.7 percentage points YoY.

• Tata Motors' arm Tata Passenger Electric Mobility inks an agreement to acquire Ford India's manufacturing plant situated at Sanand, Gujarat for Rs 725.7 crore

• Bharat Petroleum Corp is falling as it incurs a loss of Rs 6,147.9 crore in Q1FY23 compared to a profit of Rs 2,872.8 crore in Q1FY22. The loss is due to the company not raising fuel prices despite a significant increase in input costs. However, its revenue rises 70.7% YoY to Rs 1.21 lakh crore on a 22.1% YoY increase in market sales and higher turnout at its fuel stations. The company's gross refining margin surges more than 6X YoY as the refining business benefits from the elevated prices of petroleum products.

• FSN E-commerce Ventures (Nykaa) is rising as its Q1FY23 net profit grows 33.2% YoY to Rs 4.5 crore. Rise in gross merchandising value of the fashion and beauty and personal care segments aids the revenue to increase by 40.5% to Rs 1,148.4 crore.

• Blue Star is rising in trade after it bags three rural water supply project orders worth Rs 375 crore from the Department of Rural Water Supply and Sanitation (RWSS), Government of Odisha.

  #StocksInNews | Blue Star forays into water projects business gets orders totalling Rs 375 cr #StockMarket#StocksToWatch#BlueStarpic.twitter.com/UG81IHExzY

  — ET NOW (@ETNOWlive) August 8, 2022

• Crompton Greaves Consumer Electricals' promoter Temasek Holdings' arm MacRitchie Investments sells 2.02 crore shares (3.2% stake) in the company through a bulk deal on Friday. Temasek now holds a 2.74% stake in the company.

• One97 Communications (Paytm) is rising despite its net loss widening to Rs 645 crore in Q1FY23 compared to Rs 382 crore loss in Q1FY22. Employee benefits expense and marketing costs surge 160% and 131% YoY respectively. However, revenue also increases 88.5% YoY. Gross merchandise value increases 101% YoY as average monthly transacting users rise 49% YoY to 7.4 crore users. The value of loans disbursed from its platform rises more than 7X YoY across segments like postpaid loans, personal loans and merchant loans.

• State Bank of India’s Q1FY23 net profit falls 6.7% YoY to Rs 6,068 crore because of a mark-to market (MTM) loss on the investment book, as bond yields fall. Non-interest income also falls 80% YoY. Net interest income rises 12.8% YoY with net interest margins rising marginally by 8 bps to 3.2%. The asset quality of the bank improves as gross NPA rises 141 bps to 3.9% in Q1.

Riding High:

Largecap and midcap gainers today include Hindustan Aeronautics Ltd. (2,146.40, 7.47%), JSW Energy Ltd. (306.25, 7.16%) and One97 Communications Ltd. (829.60, 5.78%).

Downers:

Largecap and midcap losers today include Alkem Laboratories Ltd. (2,970.95, -4.56%), Hindustan Petroleum Corporation Ltd. (239.75, -4.37%) and Bharat Petroleum Corporation Ltd. (324.65, -3.49%).

Riding High:

Largecap and midcap gainers today include JSW Energy Ltd. (311.65, 9.04%), Hindustan Aeronautics Ltd. (2,154.00, 7.85%) and One97 Communications Ltd. (834.95, 6.46%).

Downers:

Largecap and midcap losers today include Hindustan Petroleum Corporation Ltd. (239.05, -4.65%), YES Bank Ltd. (16.00, -3.90%) and Alkem Laboratories Ltd. (2,995.00, -3.78%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included HFCL Ltd. (74.50, 9.48%), Aegis Logistics Ltd. (288.05, 8.68%) and Mahindra Holidays & Resorts India Ltd. (255.05, 8.00%).

Top high volume losers on BSE were Sudarshan Chemical Industries Ltd. (456.00, -6.31%), Hindustan Petroleum Corporation Ltd. (239.05, -4.65%) and KEC International Ltd. (404.60, -4.58%).

Heidelberg Cement India Ltd. (192.80, 2.83%) was trading at 7.5 times of weekly average. Mahanagar Gas Ltd. (818.00, 4.18%) and AstraZeneca Pharma India Ltd. (3,155.50, 2.48%) were trading with volumes 6.0 and 5.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks overperformed with 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (288.05, 8.68%), Great Eastern Shipping Company Ltd. (519.80, 2.49%) and Grindwell Norton Ltd. (1,987.30, 1.25%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (663.75, -1.32%) and Zensar Technologies Ltd. (229.90, -7.09%).

22 stocks climbed above their 200 day SMA including HFCL Ltd. (74.50, 9.48%) and JSW Energy Ltd. (311.65, 9.04%). 15 stocks slipped below their 200 SMA including KEC International Ltd. (404.60, -4.58%) and SJVN Ltd. (28.15, -2.26%).

Trendlyne Analysis

Nifty 50 closed flat, with the volatility index, India VIX, falling below 19%. Reserve Bank of India raised the repo rate by 50 bps to 5.4% during its bi-monthly monetary policy meeting to tackle inflationary pressures. Major European indices traded flat to lower while the Asian indices closed higher than Thursday’s levels. The US indices closed mixed on Thursday as the tech-heavy NASDAQ 100 rose 0.4% and the Dow Jones closed 0.3% lower. US stocks closed mixed as investors await US July jobs report on Friday for cues on the pace of interest rate hikes by the US Federal Reserve. On Thursday, The Bank of England raised the interest rates by 50 bps and warned of a recession in the UK. Crude oil extends losses and traded lower amid demand concerns.

Nifty Smallcap 100 and Nifty Next 50 closed in the green, following the benchmark index. Nifty Realty and Nifty Bank closed higher than Thursday’s levels. Nifty IT closed in the green, tracking the NASDAQ 100, which closed higher on Thursday.

Nifty 50closed at 17,389.05 (7.1, 0.0%), BSE Sensex closed at 58,387.93 (89.1, 0.2%) while the broader Nifty 500closed at 14,889.40 (-3.1, 0.0%)

Market breadth is in the green. Of the 1,893 stocks traded today, 979 were on the uptick, and 848 were down.

• Krishna Institute of Medical Sciences, Indian Bank, Symphony, and Motilal Oswal Financial Services are trading with higher volumes as compared to Thursday.

• NMDC sees a long build-up in its August 25 future series as its open interest rises 16.1% with a put-call ratio of 0.82.

• Alkem Laboratories is falling as its Q1FY23 net profit plunges by 72.7% YoY to Rs 127.6 crore due to a high base from Q1FY22 and price erosion in the US. Revenue falls 5.7% YoY as the sales from the India business and international business decline. EBITDA margin falls by 13.8 percentage points YoY due to high input costs.

• Auto stocks like Maruti Suzuki India, Tata Motors, Mahindra & Mahindra, Bajaj Auto and Eicher Motors are falling in trade. The broader sectoral index Nifty Auto is also trading in the red.

• Titan is rising as its Q1FY23 net profit increases 44X to Rs 785 crore. Increase in sales of jewellery and eyecare products aids in a 23.5% YoY growth to Rs 8,975 crore in revenue. The growth in sales of jewellery is driven by buyer demand and ticket sizes.

• Eris Lifesciences falls after it reports a decline in net profit by 11.3% YoY to Rs 94.5 crore in Q1FY23. Revenue increases 14.1% YoY with Zomelis Mother brand sales improving significantly, and a revival in the cardio-metabolic business. The company maintains revenue guidance of 30% for FY23. Eris' finance costs have surged 9.3X YoY on account of its acquisition of Oaknet Healthcare. The company has declared an interim dividend of Rs 7.35 per share for FY23.

• Tata Elxsi and Navin Fluorine International hit their 52 week-highs. Tata Elxsi rises for four consecutive days and Navin Fluorine International trades higher for three sessions.

• Manappuram Finance is rising despite its Q1FY23 net profit falling by 35.4% YoY to Rs 282.1 crore. Profit declines as interest income reduces by 4% YoY, while finance and employee costs increase. However, the company’s assets under management rise 24.3% YoY to Rs 30,760 crore.

• Mahindra & Mahindra is falling despite reporting a profit of Rs 2,360.7 crore in Q1FY23, against a loss of Rs 331.7 crore in Q1FY22. The company's revenue is up 47.8% YoY to Rs 28,412.4 crore on the back of robust sales volumes for the auto segment.

• Crompton Greaves Consumer Electricals is trading with more than 16 times its weekly average trading volume. Bayer Cropscience, Blue Star, FDC, and Balkrishna Industries are trading at more than four times their weekly average trading volumes.

• Steel stocks like JSW Steel, Vedanta, APL Apollo Tubes are rising in trade. The stocks are up after reports that the government is considering reducing or eliminating the export duty on steel products.

• RBI Governor Shaktikanta Das says that the Indian rupee depreciated systematically and is in a better position than other emerging market currencies. He also adds that RBI will monitor liquidity and focus on stabilizing the rupee.

  RBI MPC Meet | "Rupee depreciation has happened in an orderly fashion. Remain watchful & focussed on maintaining stability of Indian Rupee" says @RBI Governor @DasShaktikanta#USDINR#RupeeVsDollar#Inflation#Rupeepic.twitter.com/oXzEpzRbte

  — ET NOW (@ETNOWlive) August 5, 2022

• Easy Trip Planners and SpiceJet rise as EaseMyTrip Thai, a subsidiary Easy Trip Planners inks a general sales agreement with SpiceJet to sell, promote and market tickets and services to passengers travelling to Thailand, effective September 1. With this arrangement, both companies are trying to expand their foothold in the Thailand market.

• HDFC Securities maintains its ‘Buy’ rating on Gujarat Gas but reduces its target price to Rs 575 from Rs 625. This indicates an upside of 24.2%. The brokerage cut its target price due to the company’s sales volume growth being lower than expected. However, the brokerage remains positive on Gujarat Gas' prospects given its rising margins, extensive geographical presence, and higher return ratios compared to its peers. It estimates that its revenue will grow at a CAGR of 22.3% over FY22-24.

• LIC Housing Finance is rising as its net profit surges 6X YoY to Rs 926.8 crore on the back of robust credit growth and significantly lower provisions. Total disbursements rise by 76% YoY to Rs 15,201 crore. The company’s net interest income has jumped 26% YoY as its net interest margin improves.

• Welspun Corp is falling as its Q1FY23 net profit drops 95.6% YoY to Rs 4.1 crore. The company's revenue sinks 10.2% YoY amid a rise in raw material and finance costs.

• Canadian Pension Fund’s arm Ivanhoe Op India Inc sells 70.2 lakh shares (1.46% stake) in Macrotech Developers worth Rs 736 crore in a bulk deal

• Balkrishna Industries is falling as its net profit declines by 7.1% YoY to Rs 307 crore. Profit falls as raw material costs and logistics costs remain high - freight and forwarding expenses jump by 3X YoY. The management expects a fall in input costs to start from Q4FY23. Revenue rises 45.3% YoY as sales volumes improve on the back of healthy demand. However, the rise in sales volume is offset by elevated input costs leading to the operating margin falling by 11.4 percentage points YoY.

• Reserve Bank of India raises repo rate by 50 bps to 5.4% during its bi-monthly monetary policy meeting, amid inflationary pressures.

  #RBIPolicy | RBI raises benchmark Repo rate by 50 bps to 5.4% from 4.9%. https://t.co/ITWQAMBnRN#RBIMPC#RBIPolicy#MPCMeet#Inflation#InterestRate#ShaktikantaDas

  — Economic Times (@EconomicTimes) August 5, 2022

• Adani Enterprises touches a 52-week high as its Q1FY23 net profit rises 73% YoY to Rs 469.4 crore and revenues surge 3.2X YoY. Maximum revenue came in from integrated resource management, mining and airport segments with revenue from airports zooming 18X YoY. However, a surge in foreign exchange expenses because of a volatile rupee along with an increase in employee benefit expense, finance costs and operating expenses dent the operating margin by 6.1 percentage points to 2.7%.

• Britannia’s Q1FY23 net profit falls 13% YoY to Rs 337.4 crore despite an increase in revenue by 9%. The company’s sales volumes are also down but may increase from Q2FY23. Despite the company increasing prices across a range of its products, the operating margin of the company fell 269 bps YoY because of an increase in input costs due to inflation. The management expects a fall in commodity prices and additional price hikes to improve profitability in the coming quarters.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (197.80, 5.24%), Tata Communications Ltd. (1,101.35, 4.79%) and InterGlobe Aviation Ltd. (2,080.90, 4.77%).

Downers:

Largecap and midcap losers today include Balkrishna Industries Ltd. (2,162.80, -6.77%), Adani Transmission Ltd. (3,313.55, -6.14%) and Zomato Ltd. (54.60, -5.62%).

Volume Rockets

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

Top high volume gainers on BSE included Manappuram Finance Ltd. (108.15, 6.39%), Lemon Tree Hotels Ltd. (72.85, 6.27%) and FDC Ltd. (272.55, 5.80%).

Top high volume losers on BSE were Balkrishna Industries Ltd. (2,162.80, -6.77%), GAIL (India) Ltd. (132.90, -5.14%) and Amber Enterprises India Ltd. (2,268.00, -4.81%).

Crompton Greaves Consumer Electricals Ltd. (373.85, -3.86%) was trading at 17.6 times of weekly average. Bayer Cropscience Ltd. (5,482.05, 3.69%) and NMDC Ltd. (110.90, 3.26%) were trading with volumes 17.0 and 12.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks took off, crossing 52-week highs, while 1 stock was an underachiever and hit its 52-week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (3,313.55, -6.14%), Cholamandalam Investment & Finance Company Ltd. (771.20, 1.07%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (809.80, -3.55%).

Stock making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (672.65, -4.31%).

20 stocks climbed above their 200 day SMA including Redington (India) Ltd. (144.80, 3.76%) and Restaurant Brands Asia Ltd. (125.10, 3.69%). 16 stocks slipped below their 200 SMA including Balkrishna Industries Ltd. (2,162.80, -6.77%) and Garware Technical Fibres Ltd. (3,020.25, -6.49%).

Trendlyne Analysis

Nifty 50 closed flat after gyrating between losses and gains on a volatile day of trade. European stocks traded marginally higher as investors await the Bank of England's monetary policy committee meeting scheduled later today. Most major Asian indices closed in the green, tracking the US indices, which closed sharply higher on Wednesday. However, Taiwanese stocks closed lower as China began military drills around Taiwan after US House Speaker Nancy Pelosi’s visit. US stocks rose on Wednesday on the back of decent economic data and strong corporate earnings. The tech-heavy index, NASDAQ 100, rose 2.7% while the Dow Jones closed 1.3% higher. Brent crude oil futures traded higher after closing at a multi-month low on Wednesday due to demand concerns.

Nifty Next 50 closed higher, despite the benchmark index closing flat. Nifty Metal and Nifty Pharma closed higher than Wednesday’s levels. Nifty IT closed in the green, tracking the NASDAQ 100, which rose 2.7% on Wednesday.

Nifty 50closed at 17,364.00 (-24.2, -0.1%), BSE Sensexclosed at 58,298.80 (-51.7, -0.1%) while the broader Nifty 500closed at 14,879.20 (1.2, 0.0%)

Market breadth is in the red. Of the 1,889 stocks traded today, 814 were in the positive territory and 1,025 were negative.

• EPL, Mahindra Logistics, Aptus Value Housing Finance India, and Ajanta Pharmaare trading with higher volumesas compared to Tuesday.

• Lupin sees a long build-up in its August 25 future series as its open interest rises 19.2% with a put-call ratio of 1.32.

• KR Choksey initiates its coverage on Ashok Leyland with an ‘accumulate’ rating with a target price of Rs 168. This indicates an upside of 13.3%. As the commodity costs are falling, the brokerage expects the company’s profitability to improve due to higher gross margins. Higher volumes could enable operating leverage, which could also boost profits. The brokerage estimates Ashok Leyland’s revenue CAGR of 32.4% over FY22-24.

• Energy stocks like Reliance Industries, Adani Transmission, Adani Green Energy, Oil and Natural Gas Corp, among others, are falling in trade. The broader sectoral index Nifty Energy is also trading in the red.

• Stocks like Adani Transmission, Metro Brands, Adani Enterprises, and Asian Paintsare in the overbought zone, according to the technical indicator relative strength index or RSI.

• Public sector banks like State Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank, Bank of India, among others, are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in the red.

• Indian rupee depreciates 66 paise to Rs 79.82 against the dollar in trade today on speculation of a 50 bps rate hike by US Feds. The rupee hit a record low of Rs 80.06 on July 21.

• Tiger Global Fund’s Internet Fund VI Pte cuts its stake in Zomato to 2.7% from 5.1% between July 25 and August 2.

• Mahindra & Mahindra and Eicher Motors hit their 52-week highs of Rs 1,265 and Rs 3,196.5, respectively. While Mahindra & Mahindra trades higher for nine consecutive days, Eicher Motors rises for four sessions.

• Macrotech Developers is trading with more than 33 times its weekly average trading volume. Kalyan Jewellers India, HLE Glasscoat, Tata Consumer Products, and Lupinare trading at more than eight times their weekly average trading volumes.

• HDFC Bank issues clarification on reports of fundraising, to pay off the liability arising from the merger of HDFC. The bank says that the liabilities of HDFC Limited will be transferred to the Bank post merger.

  #HDFCBank clarifies on news reports claiming that it will need to raise funds to immediately pay off liabilities arising out of merger with #HDFC.
  
  For the latest news & updates visit: https://t.co/gXeGqKxXTHpic.twitter.com/XVTsVSqLfC

  — BQ Prime (@bqprime) August 4, 2022

• IEX is falling as its July power trading volume decreases 1.7% YoY to 7,151 million units. According to the data given by National Load Dispatch Center, energy consumption was also down 2.3% YoY in July. Peak demand fell because of a good monsoon in the last two months.

• PI Industries is rising as its Q1FY23 net profit increases 40.2% YoY to Rs 262.4 crore. A 42% YoY rise in exports helps its revenue rise 29.2% YoY to Rs 1,543.2 crore. Price hikes in the domestic business and a favourable product mix helps its domestic revenue rise during the quarter.

• Uber sells 61.2 crore shares of Zomato worth Rs 3,087.9 crore in a bulk deal on Wednesday. Fidelity Investment buys 5.4 crore shares in Zomato worth Rs 273.6 crore and ICICI Prudential Life Insurance buys 4.5 crore shares in the company worth Rs 226.1 crore in a bulk deal.

• Lupin is rising despite the company posting a net loss for the second consecutive quarter of Rs 89.1 crore in Q1FY23. A fall in net sales by 14.9% YoY and a rise in raw materials expenses, employee benefits expenses and finance costs result in a fall in EBITDA margin by 16.8 percentage points YoY. The management says that the company continues to face price erosion in its US business and inflation in raw materials, however, the India business continues to grow ahead of the market.

• Metal stocks like APL Apollo Tubes, Hindalco Industries, Jindal Steel & Power, and NMDC, among others, are rising in trade. The broader sectoral index Nifty Metal is also trading in green.

• Retail sales for the automotive industry are down in July as total retail sales fall 8% YoY to 14.4 lakh units, according to data from the Federation of Automotive Dealers' Association. Two-wheeler retail sales fall 10.92% YoY to 10 lakh units. Retail sales of car makers also fall slightly by 4.7% YoY to 2.5 lakh units. Three-wheeler and commercial vehicle retail sales grow by 80% and 27% YoY respectively.

  #FADA July Data | Total vehicle retail sales down 8% at 14.4 lakh vs 15.6 lakh (YoY) pic.twitter.com/RTQ26dIhcY

  — CNBC-TV18 (@CNBCTV18Live) August 4, 2022

• Hindalco rises as its subsidiary Novelis reports an increase in revenue by 32% YoY to % $5.1 billion. But its net profit increases only 1.3% YoY in Q1FY23. According to reports, brokerage JP Morgan maintains its 'Overweight' stance on the stock despite its profit rising only marginally. Shipments in the North American market increase on strong demand for can and automotive equipment as semi-conductor supplies improve. However, shipments in the European, Asian and South American markets decline because of inflationary cost pressures.

• All IT stocks are trading in the green. Stocks like Infosys, MindTree, Mphasis and L&T Technology Services are up by more than 2%. The broader sectoral index Nifty IT is also rising in trade.

• Vodafone Idea is falling as its net loss widens in Q1FY23 to Rs 7,296.7 crore against Rs 6,563 crore in Q4FY22. However, revenue from services increases marginally by 1.7% QoQ as the average revenue per user rises 3.2% QoQ. The company’s finance costs and network expenses also rise more than 11% QoQ. Its total gross debt stands at Rs 1.9 lakh crore in Q1FY23.

• InterGlobe Aviation’s Q1FY23 loss narrows to Rs 1,064.3 crore as compared to Rs 3,174.2 crore in Q1FY22. Revenue surges 4.3X YoY as flight operations pick up pace post-Covid restrictions. However, aircraft fuel expenses jump nearly 5X YoY because of an increase in aviation turbine fuel prices. Airport fees and charges surge 2.3X YoY. The management plans to increase operational capacity by 70%-80% and says that with high revenue growth and controlled fuel costs the airline may become profitable by Q2FY23.

Riding High:

Largecap and midcap gainers today include Varun Beverages Ltd. (1,003.75, 6.49%), Zydus Lifesciences Ltd. (364.60, 5.24%) and Lupin Ltd. (659.95, 5.15%).

Downers:

Largecap and midcap losers today include Macrotech Developers Ltd. (1,037.25, -6.12%), Gujarat Gas Ltd. (444.45, -3.98%) and Vodafone Idea Ltd. (8.75, -3.85%).

Volume Shockers

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

Top high volume gainers on BSE included HLE Glasscoat Ltd. (3,495.05, 12.13%), Redington (India) Ltd. (139.55, 9.11%) and Rashtriya Chemicals & Fertilizers Ltd. (94.05, 7.49%).

Top high volume losers on BSE were Macrotech Developers Ltd. (1,037.25, -6.12%), Gujarat Gas Ltd. (444.45, -3.98%) and Cera Sanitaryware Ltd. (4,700.60, -3.65%).

Kalyan Jewellers India Ltd. (70.30, 5.71%) was trading at 19.6 times of weekly average. Lupin Ltd. (659.95, 5.15%) and Tata Consumer Products Ltd. (789.25, -2.89%) were trading with volumes 12.8 and 12.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

20 stocks made 52-week highs, while 2 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (347.25, 2.25%), Adani Transmission Ltd. (3,530.45, 0.72%) and Blue Dart Express Ltd. (8,866.70, -0.96%).

Stocks making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Ltd. (1,395.65, 0.94%) and Zensar Technologies Ltd. (246.70, -1.28%).

12 stocks climbed above their 200 day SMA including Ipca Laboratories Ltd. (1,024.95, 4.81%) and Au Small Finance Bank Ltd. (636.60, 4.43%). 20 stocks slipped below their 200 SMA including Angel One Ltd. (1,253.20, -4.56%) and Balrampur Chini Mills Ltd. (364.50, -4.05%).

Trendlyne Analysis

Nifty 50 recovered over 160 points from its day’s low and closed in the green on a volatile day of trade. Indian indices closed higher for a sixth straight session. India’s July Services Purchasing Managers' Index or PMI missed analysts’ forecast and fell to 55.5 from 59.2 in June. European indices traded lower than Tuesday’s levels.

Major Asian indices closed mixed as investors keep an eye on the China-US tensions as US House Speaker Nancy Pelosi landed in Taiwan on Tuesday, despite warnings from China. In reaction, China said the action was “extremely dangerous” by the US. On Tuesday, US indices closed in the red, led by the Dow Jones, which fell 1.2%. The tech-heavy index, NASDAQ 100, closed 0.3% lower while the S&P 500 fell 0.7%. Brent crude oil futures hovered around $100 levels after falling over 7% in the last three days due to demand concerns.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, despite the benchmark index closing in the green. Nifty Realty and Nifty Pharma closed lower than Tuesday’s levels. Nifty IT closed in the green, despite the tech-focused index, NASDAQ 100, closing lower on Tuesday.

Nifty 50closed at 17,392.90 (47.5, 0.3%), BSE Sensexclosed at 58,350.53 (214.2, 0.4%) while the broader Nifty 500closed at 14,880.00 (3.4, 0.0%)

Market breadth is moving down. Of the 1,895 stocks traded today, 614 were gainers and 1,233 were losers.

• Gland Pharma, Endurance Technologies, V-Guard Industries, and Sun Pharma Advanced Research Companyare trading with higher volumes as compared to Tuesday.

• Cipla sees a long build-up in its August 25 future series as its open interest rises 1.9% with a put-call ratio of 0.7.

• Indian rupee appreciates to 78.7 against the US dollar in early trade today, but gives up its gains and falls for the first time in five days.

• eClerx Services is surging in trade after announcing that its board of directors will mull a bonus issue of shares on Tuesday. The board will also approve the company's Q1FY23 results on the same day.

• Auto stocks like Bosch, Bharat Forge, Tata Motors and Maruti Suzuki India, among others, are falling in trade. The broader sectoral index Nifty Auto is also trading in red.

• City gas distributor Mahanagar Gas announces a second price hike within a month. It hikes prices for CNG by Rs 6 per kg and PNG by Rs 4 per unit with immediate effect.

  Within a month, city gas distributor Mahanagar Gas (MGL) has announced the second price hike of Rs 6 per kilogram for CNG and by Rs 4 a unit for piped natural gas with immediate effect.
  https://t.co/auoeCAP9h9

  — Economic Times (@EconomicTimes) August 2, 2022

• Sun Pharma's Chairman Israel Makov will retire on August 29 after the completion of his tenure. He will also step down from the company's board of directors.

• ICICI Direct maintains its ‘Buy’ rating on Ashok Leyland with a target price of Rs 180, indicating an upside of 17%. The brokerage expects the company to be the largest beneficiary of the cyclical recovery in the commercial vehicle space given its large market share and extensive product portfolio. It also believes the company’s sales volume growth and cost control measures will increase profitability in the coming quarters. The brokerage estimates the company’s net profit to grow at a CAGR of 60.8% over FY22-24.

• SpiceJet rises as the airline’s promoter Ajay Singh looks at the option of a partial stake sale, according to reports. This could include a 24% stake sale to an investor, which could include a seat on the company's board. Ajay Singh holds a 60% stake in SpiceJet, as of June 30.

• MOIL is trading with more than 30 times its weekly average trading volume. eClerx Services, The New India Assurance Company, General Insurance Corporation of India, and Brigade Enterprises are trading at more than ten times their weekly average trading volumes.

• Zomato is falling in trade as reports suggest Uber sells its 7.8% stake in the company worth Rs 3,087 crore.

  Uber Sells 7.8% Stake In Zomato For $392 Million: Report https://t.co/j1OV0tyMOSpic.twitter.com/v6tWBV4NBq

  — NDTV Profit (@NDTVProfit) August 3, 2022

• Telecommunication companies like Indus Towers, Vodafone idea, Tejas Networks, Tata Teleservices, and Sterlite Technologies are falling in trade. The broader sectoral index S&P BSE Telecom is also trading in the red.

• Bosch is falling despite its Q1FY23 net profit rising 28.3% YoY to Rs 334.1 crore. Rise in sales of automotive products helps the revenue to increase 45% YoY to Rs 3,544.4 crore. Original equipment manufacturers’ (OEM) long waiting periods for delivery and strong order books aids in the rise in revenue of automotive products. This gives the company sustained demand in the passenger cars and utility vehicles segments.

• Lemon Tree Hotels is falling despite turning profitable in Q1FY23, after posting a loss for nine consecutive quarters. The company posts a net profit of Rs 13.9 crore in Q1FY23 as compared to a loss of Rs 40.1 crore in Q1FY22. Revenue grows 4.5X YoY mainly due to a significant rise in corporate travel. The company’s occupancy rate rises 35.5 percentage points YoY to 65.1% as demand from the corporate travel and leisure travel segment improves.

• India’s July Services Purchasing Managers' Index (PMI) falls to 55.5 compared to 59.2 in June due to inflationary pressures.

  #PMI | India July Services PMI at 55.5 Vs 59.2 MoM
  
  Alert: India July services PMI of 55.5 is lowest in last 4 months pic.twitter.com/MxZkqgRReb

  — CNBC-TV18 (@CNBCTV18Live) August 3, 2022

• Nomura Singapore buys 11.5 lakh shares (0.5% stake) in Easy Trip Planners at an average price of Rs 399 per share in a bulk deal on Tuesday.

• Rakesh Jhunjhunwala buys 0.9% stake in Leading Leasing Finance and Investment worth Rs 73.5 lakh in a bulk deal on Monday.

• The Centre cut export taxes on diesel to Rs 5 per litre from Rs 11 per litre on Tuesday. This comes after India’s trade deficit hit a record high in July. The Centre also raises export tax on domestically produced crude oil to Rs 17,750 per tonne from Rs 17,000 per tonne.

  India cuts levies on #diesel and #ATF to boost shipments after the trade gap swelled to a record last month.https://t.co/1dyHqAm0SA

  — BQ Prime (@bqprime) August 3, 2022

• Mahindra & Mahindra Financial Services’ disbursements in July grows 63% YoY to Rs 3,912 crore on the back of an improving macro environment. The company’s asset quality improves as its collection efficiency rises 200 bps YoY to 97%. The management expects the asset quality to improve further in Q2FY23.

• Subex – a Telecom Analytics Solutions company ties up with Jio Platforms to provide artificial intelligence (AI) for Jio’s 5G product line. With this, Jio Platforms will give its Cloud Native 5G core to telecom companies globally, combining it with Subex’s AI for network automation, better performance and customer experience.

• Siemens’ Q1FY23 net profit surges 2.2X YoY to Rs 300.7 crore in Q1FY23 as revenue jumps 50.5% YoY. Revenue rises across segments, with energy increasing 52.3% and smart infrastructure rising 40.5% YoY. Revenue from mobility and digital industries also grew by 171% and 45.7%, respectively. The management attributes revenue growth to a robust order book. However, it is also concerned about the global demand scenario and may slowdown capex in case of a slowdown.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (41.25, 13.32%), The New India Assurance Company Ltd. (89.50, 6.67%) and One97 Communications Ltd. (804.55, 6.46%).

Downers:

Largecap and midcap losers today include Indus Towers Ltd. (206.45, -5.88%), Siemens Ltd. (2,614.65, -4.46%) and YES Bank Ltd. (16.45, -4.08%).

Volume Shockers

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

Top high volume gainers on BSE included IDBI Bank Ltd. (41.25, 13.32%), Spicejet Ltd. (50.10, 12.97%) and The New India Assurance Company Ltd. (89.50, 6.67%).

Top high volume losers on BSE were Indus Towers Ltd. (206.45, -5.88%), Siemens Ltd. (2,614.65, -4.46%) and Thermax Ltd. (2,010.40, -3.90%).

Johnson Controls-Hitachi Air Conditioning India Ltd. (1,534.80, -2.19%) was trading at 42.5 times of weekly average. MOIL Ltd. (166.50, 4.91%) and eClerx Services Ltd. (2290.50, 4.29%) were trading with volumes 37.6 and 25.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks overperformed with 52-week highs, while 1 stock tanked below its 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (339.60, 3.36%), Adani Transmission Ltd. (3,505.35, 2.45%) and AIA Engineering Ltd. (2,489.75, -0.22%).

Stock making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Ltd. (1,382.60, -2.31%).

15 stocks climbed above their 200 day SMA including Star Cement Ltd. (93.70, 5.52%) and MOIL Ltd. (166.50, 4.91%). 21 stocks slipped below their 200 SMA including Balrampur Chini Mills Ltd. (379.90, -5.21%) and Alkyl Amines Chemicals Ltd. (3,036.40, -3.27%).