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Trendlyne Analysis

Nifty 50 extended its four-day losing streak and closed sharply below 16,000. The Indian volatility index, India VIX increased by 6.8% on a volatile day of trade. Asian indices closed lower after the US inflation print topped expectations at 8.3% but moderated from previous month’s high. US indices closed sharply lower on Wednesday as a high inflation level could lead to aggressive monetary tightening by the Federal Reserve. The tech-focused NASDAQ index lost 7.5% this week while the S&P 500 fell over 5%. Investors continue to monitor the effect of aggressive monetary policy on global economic growth. Crude oil prices moderate after rising sharply on late Wednesday as Russia sanctioned some European gas companies. European indices follow the global trend and trade sharply lower than Wednesday’s levels. In the last week, foreign investors have sold over Rs 12,545.6 crore worth shares of Indian companies.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Metal and Nifty Media closed lower than Wednesday’s levels. Nifty IT closed in the red, tracking the tech-heavy NASDAQ 100, which fell over 3% on Wednesday.

Nifty 50closed at 15,808.00 (-359.1, -2.2%), BSE Sensexclosed at 52,930.31 (-1,158.1, -2.1%) while the broader Nifty 500closed at 13,465.25 (-306.6, -2.2%)

Market breadth is moving down. Of the 1,872 stocks traded today, 323 were gainers and 1,540 were losers.

• Saregama India, Nuvoco Vistas Corporation, KPR Mill, and J B Chemicals & Pharmaceuticalsare trading with higher volumesas compared to Wednesday.

• Nifty 50sees a short build-up in its May 26 futures series as its open interest rises 13.8% with put to call ratio at 0.64.

• Petronet LNG’s net profit rises 24% YoY to Rs 791 crore and revenue rises 47.4% YoY to Rs 11,241.7 crore on rising sales volumes. However, the operating margin falls by 393 bps YoY to 10.5% due to an increase in the cost of materials consumed by 55.6% YoY to Rs 9,782.8 crore.

• Auto stocks like Bharat Forge, Tata Motors, Bosch, and TVS Motor among others are falling in trade. The broader sectoral index Nifty Autois also trading in red.

• Public sector bank stocks like Punjab National Bank, Bank of India, Punjab & Sind Bank, and Canara Bank among others are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in red.

• Delhivery’s Rs 5,235-crore IPO gets bids for 23% of the available 6.2 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 40% of the available 1.1 crore shares on offer.

• Prudent Corporate Advisory Services’ Rs 538.6-crore IPO gets bids for 122% of the available 60.1 lakh shares on offer on the last day of bidding. The retail investor quota gets bids for 1.3X of the available 29.5 lakh shares on offer. The issue is entirely an offer for sale of Rs 538.6 crore.

• ICICI Securities maintains a ‘Buy’ rating on Hindalco Industries with a target price of Rs 700, implying an upside of 65.4%. The brokerage believes the company is well placed to benefit from the improving demand for cans and specialty products in North America. The brokerage expects progressively higher contract prices across product segments to improve the company's margins in the medium term.

• Venus Pipes and Tubes’ Rs 165.4-crore IPO gets bids for 4.2X of the available 35.5 lakh shares on offer on the second day of bidding. The retail investor quota gets bids for 7.5X of the available 17.7 lakh shares on offer.

• Metal stocks like Tata Steel, APL Apollo Tubes, JSW Steel and Jindal Steel & Power among others are falling in trade. The broader sectoral index Nifty Metal is also trading in red.

• Relaxo Footwears is trading with more than seven times its weekly average trading volume.KRBL, Kalyan Jewellers India, Punjab National Bank, and Aptus Value Housing Finance India are trading at more than two times their weekly average trading volumes.

• One97 Communications (Paytm) and Aditya Birla Sun Life AMC touch an all-time low of Rs 517.2 and 483.2 respectively. One97 Communications (Paytm) is falling for three consecutive sessions while Aditya Birla Sun Life AMC is falling for two consecutive sessions.

• Indian rupee falls to an all-time low of Rs 77.59 against the US dollar as high inflation print in the US strengthens prospect of aggressive rate hikes by the Federal Reserve. In addition, foreign investors sell Rs 12,545.6 crore worth of Indian shares in the last week.

• ICICI Securities upgrades its rating on Zensar Technologies from ‘Hold’ to ‘Buy’ with a target price of Rs 294, indicating an upside of 17.8%. The brokerage has a positive outlook on the company as its gross margin increased by 50 bps QoQ to 30.1% due to improved utilization and volume mix. ICICI Sec expects the company’s revenue to grow at an 18.5% CAGR over FY22-24.

• Punjab National Bank is falling as Q4FY22 profit falls 51.7% YoY to Rs 338.3 crore and revenue falls 6.3% YoY to Rs 21,350.6 crore. In FY22, profit rises 50.7% to Rs 3,860.7 crore.

• Mangalore Refinery and Petrochemicals surges as its Q4FY22 net profit rises 11X YoY to Rs 3,008.4 crore due to rising sales volumes, and a deferred tax credit. Revenue rises 35.7% YoY to Rs 28,250.5 crore and EBITDA rises 3X YoY to Rs 2,937 crore.

• Relaxo Footwears is falling as its Q4FY22 net profit falls 38.5% YoY to Rs 62.9 crore. Revenues decrease by 6.7% to Rs 704.1 crore. Operating profit margin falls by 5.9 percentage points YoY in Q4FY22 to 15.9% due to high raw material costs. Net profit falls 20.2% YoY in FY22 to Rs 233 crore but revenues rise 12.4% YoY to Rs 2,677 crore.

• Kennametal India is falling despite a 22.2% YoY increase in Q4FY22 to Rs 26.9 crore. Revenues rise 7.2% YoY to Rs 247.8 crore. Revenue from hard metal products rises 6.7% YoY to Rs 209 crore while revenues from machining solutions rise 14.3% YoY to Rs 36.6 crore.

• Coforge’s Q4FY22 net profit rises 13% QoQ to Rs 207.7 crore and revenue rises 6.3% QoQ to Rs 1,766.1 crore led by a robust growth of 21.4% QoQ in order intake. The maximum revenue growth came from Europe, Middle East and Africa segment at 24.2% QoQ. EBITDA margin rises by 68bps QoQ to 18.9% and the attrition rate rises by 140 bps QoQ to 17.7%.

• JMC Projects (India) secures new orders worth Rs 2,348 crore. It includes water supply projects worth Rs 2,193 crore and building and factory projects worth Rs 155 crore. Kalpataru Power Transmissions, the holding company of JMC, receives new orders worth Rs 4,474 crore on a consolidated basis.

• NCC’s Q4FY22 profit jumps 2.1 times YoY to Rs 242.2 crore mainly due to an exceptional item gain of Rs 172 crore that includes profit on the sale of one of its subsidiaries. Revenue rises 22.8% YoY to Rs 3,491.8 crore in Q4FY22. Net profit rises 79.8% YoY in FY22 to Rs 482.4 crore and revenues rise 39% to Rs 11,208.7 crore in FY22.

• Birla Corporation’s Q4FY22 net profit falls 55.4% YoY to Rs 111 crore because of a one-off credit adjustment of Rs 124.9 crore in income tax expense in FY21. The management also believes that high fuel costs cut down profits. Fuel costs rise 27.8% YoY to Rs 450.1 crore. Revenue is up 6.2% YoY to Rs 2,264.2 crore. Revenue from the cement segment increases 6.2% YoY to Rs 2,150 crore and the jute segment rises 5.9% to Rs 114.2 crore.

Riding High:

Largecap and midcap gainers today include Gujarat Gas Ltd. (566.95, 5.50%), Ambuja Cements Ltd. (373.55, 4.04%) and NHPC Ltd. (31.30, 2.29%).

Downers:

Largecap and midcap losers today include Punjab National Bank (28.60, -13.60%), Adani Green Energy Ltd. (2,436.80, -7.98%) and Bank of India (41.00, -6.50%).

Movers and Shakers

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

Top high volume gainers on BSE included KRBL Ltd. (235.05, 15.59%), Avanti Feeds Ltd. (456.35, 13.22%) and Johnson Controls-Hitachi Air Conditioning India Ltd. (1,792.20, 3.41%).

Top high volume losers on BSE were Punjab National Bank (28.60, -13.60%), Punjab & Sind Bank (14.15, -5.98%) and Emami Ltd. (450.75, -4.93%).

Relaxo Footwears Ltd. (1,018.75, -1.04%) was trading at 10.6 times of weekly average. TTK Prestige Ltd. (771.25, -1.01%) and Kalyan Jewellers India Ltd. (61.85, 0.65%) were trading with volumes 7.6 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

93 stocks tanked below their 52-week lows.

Stocks making new 52 weeks lows included - Akzo Nobel India Ltd. (1,758.55, -1.52%) and Amara Raja Batteries Ltd. (500.10, -1.99%).

5 stocks climbed above their 200 day SMA including DCM Shriram Ltd. (1,051.15, 5.21%) and Triveni Turbine Ltd. (179.15, 3.95%). 33 stocks slipped below their 200 SMA including Elgi Equipments Ltd. (259.55, -6.77%) and Adani Ports & Special Economic Zone Ltd. (713.30, -6.13%).

Trendlyne Analysis

Nifty 50 closed in the red with the Indian volatility index rising over 22.5%. Asian stocks closed mixed, tracking the US indices. The Nasdaq 100 and S&P 500 closed in the green whereas Dow Jones ended the day in the red. Investors remain indecisive as they continue to assess the impact of aggressive monetary policies on economic growth. Crude oil falls more than 8% this week as the Covid-19 lockdown in Shanghai reduced its demand. European indices trade in the green ahead of the US inflation print release later today. In the last week, foreign investors have sold over Rs 11,936 crore worth of shares of Indian companies.

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

Gloom in markets in today's trading. Nifty 50closed at 16,167.10 (-73.0, -0.5%), BSE Sensexclosed at 54,088.39 (-276.5, -0.5%) while the broader Nifty 500closed at 13,771.80 (-84.2, -0.6%)

Market breadth is overwhelmingly negative. Of the 1,870 stocks traded today, 331 were on the uptrend, and 1,522 went down.

• Krishna Institute of Medical Sciences, Endurance Technologies, EPL, and Nuvoco Vistas Corporationare trading with higher volumesas compared to Tuesday.

• The Ramco Cements sees a short build-up in its May 26 futures series as its open interest rises 18.5% with put to call ratio at 0.28

• Delhivery’s Rs 5,235-crore IPO gets bids for 21% of the available 6.2 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 30% of the available 1.1 crore shares on offer. The public issue comprises of a fresh issue of equity shares of Rs 4,000 crore and an offer for sale of up to Rs 1,235 crore.

• Venus Pipes & Tubes’ Rs 165.4-crore IPO gets bids for 2.4X of the available 35.5 lakh shares on offer on the first day of bidding. The retail investor quota gets bids for 4.1X of the available 17.7 lakh shares on offer. The offer comprises entirely of a fresh issue of Rs 165.4 crore.

• Prudent Corporate Advisory Services’ Rs 538.6-crore IPO gets bids for 57% of the available 60.1 lakh shares on offer on the second day of bidding. The retail investor quota gets bids for 105% of the available 29.5 lakh shares on offer.

• Public sector bank stocks like Indian Bank, Bank of Maharashtra, Bank of India, and Union Bank of Indiaamong others are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in red.

• Max Financial Services surges as its Q4FY22 net profit rises 88.9% YoY to Rs 117.7 crore as expenses of life insurance operations fall 8.9% YoY to Rs 8,793.1 crore. Revenue falls by 8.2% YoY to Rs 8,962.3 crore on lower investment income. Operating margin rises by 109 bps YoY to 1.79%.

• Alembic Pharmaceuticals receives US Food & Drug Administration (USFDA) approval for its abbreviated new drug application, Arformoterol Tartrate inhalation solution. This drug is therapeutically equivalent to Sunovion Pharma’s Brovana inhalation solution, which has a US market size of $ 251 million.

• Media stocks like Nazara Technologies, Network 18 Media & Investments, TV18 Broadcast, and Dish TV Indiaamong others are falling in trade. The broader sectoral index Nifty Media is also trading in red.

• Gujarat Gasis trading with more than seven times its weekly average trading volume. Mahanagar Gas, Kansai Nerolac Paints, Nuvoco Vistas Corporation, and Orient Electricare trading at more than four times their weekly average trading volumes.

• Neuland Laboratories’ Q4FY22 net profit rises 26% YoY to Rs 21.8 crore mainly due to deferred tax credit and changes in inventory of finished goods. Revenue decreases by 1.1% YoY to Rs 256.5 crore due to a volume drop in its generics business.

• Kalyan Jewellers India's Q4FY22 profit falls 2.7% YoY to Rs 72 crore as revenue falls 6.5% YoY to Rs 2,857 crore. In FY22, the company makes a profit of Rs 224 crore against loss of Rs 6.1 crore in FY21.

• Mahanagar Gas’ Q4FY22 net profit falls 38.1% YoY to Rs 131.8 crore on the back of a sharp rise in the cost of natural gas and excise duty by 2.75X YoY and 51.9% YoY, respectively. Operating margin falls by 22.2 percentage points YoY to 18.1%. However, revenue rises 51% YoY to Rs 1,210.3 crore.

• Torrent Power posts a loss of Rs 488 crore in Q4FY22 against a profit of Rs 396.9 crore in the same quarter previous year. This is due to an exceptional item loss of Rs 1,300 crore pertaining to intermittent operation of its DGEN mega power project in Gujarat. However, revenue rises 23.3% YoY to Rs 3,840.6 crore in Q4FY22.

• Texmaco Rail & Engineering receives an order for 20,067 wagons worth Rs 6,450 approximately. The order is to be executed over a period of thirty-nine months against the recent railway tender for wagons issued by the Indian Railway.

• Zensar Technologies’ Q4FY22 net profit rises 42.7% QoQ to Rs 129.9 crore and revenue rises 8.8% QoQ to Rs 1,226.1 crore. The maximum revenue came from the digital and application services segment at Rs 943 crore. EBITDA margin falls by 20 bps to 14.1% due to a 5.6% QoQ rise in employee costs.

• Kansai Nerolac Paints hits a 52-week low as its Q4FY22 net profit slumps 80.1% YoY to Rs 24.7 crore. However, the company’s revenue rises 5.3% YoY to Rs 1,536.6 crore. The cost of materials for the company increases 18.5% YoY to Rs 1,155.2 crore as the company continues to face inflationary pressures and volatility in crude prices. The management expects the effect of price hikes to reflect in FY22.

• Venus Pipes & Tubes raises Rs 49.6 crore from investors by selling 15.2 lakh equity shares at Rs 326 per share to anchor investors. Investors include Nippon India, Kotak Life Insurance and India SME Investments.

• Porinju Veliyath buys a 0.53% stake in McDowell Holdings in Q4FY22 taking his holding to 3% in the company.

• Delhivery raises Rs 2,346.7 crore from investors by selling 4.8 crore equity shares at Rs 487 per share to 64 anchor investors. Investors include Tiger Global, Bay Capital, Steadview, Fidelity, GIC, Government Pension Fund Global, HDFC, State Bank of India, ICICI Prudential, Nippon, among others.

• Gujarat Gas’ Q4FY22 net profit rises 26.6% YoY to Rs 444.4 crore and revenue rises 38.9% YoY to Rs 4,791 crore driven by the addition of new domestic and industrial customers. EBITDA rises 24.8% YoY to Rs 715.1 crore.

• Cipla’s Q4FY22 net profit declines 12.4% YoY to Rs 362.1 crore due to a rise in Covid-19 inventory, employee costs, and other expenses. However, revenue rises 14.1% YoY to Rs 5,324.4 crore on the back of the company’s India business growing 15% YoY to Rs 2,183 crore. EBITDA margin falls by 279 bps YoY to 14.5%.

• Vodafone Idea’s Q4FY22 losses narrow down by 9.1% QoQ to Rs 6,563 crore. Revenue from operations rise 5.4% QoQ to Rs 10,239.5 crore with income from services increasing 5.3% to Rs 10,228.9 crore. Its average revenue per user (APRU) increases 7.5% QoQ to Rs 124.

Riding High:

Largecap and midcap gainers today include Adani Green Energy Ltd. (2,648.05, 6.49%), Gujarat Gas Ltd. (537.40, 5.99%) and SRF Ltd. (2,234.25, 5.73%).

Downers:

Largecap and midcap losers today include Ruchi Soya Industries Ltd. (944.95, -9.57%), Adani Transmission Ltd. (2,296.00, -7.51%) and JSW Energy Ltd. (258.50, -7.43%).

Volume Rockets

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

Top high volume gainers on BSE included Balaji Amines Ltd. (3,042.70, 6.83%), Prism Johnson Ltd. (111.30, 6.61%) and Gujarat Gas Ltd. (537.40, 5.99%).

Top high volume losers on BSE were Indiabulls Housing Finance Ltd. (111.15, -20.52%), Dishman Carbogen Amcis Ltd. (119.85, -19.89%) and Welspun India Ltd. (63.70, -17.59%).

ZF Commercial Vehicle Control Systems India Ltd. (7,500.95, -2.03%) was trading at 16.2 times of weekly average. Mahanagar Gas Ltd. (764.60, 2.33%) and Kansai Nerolac Paints Ltd. (411.80, -4.48%) were trading with volumes 8.1 and 6.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

84 stocks hit their 52-week lows.

Stocks making new 52 weeks lows included - 3M India Ltd. (17,778.60, -1.81%) and Ajanta Pharma Ltd. (1,684.70, 1.60%).

8 stocks climbed above their 200 day SMA including SRF Ltd. (2,234.25, 5.73%) and Navin Fluorine International Ltd. (3,946.65, 4.53%). 23 stocks slipped below their 200 SMA including Ruchi Soya Industries Ltd. (944.95, -9.57%) and TCNS Clothing Co. Ltd. (709.90, -6.29%).

Trendlyne Analysis

Nifty 50 closed in the red after gyrating between gains and losses on a volatile day of trade. Major Asian indices closed lower, taking cues from the US indices, which closed lower on Monday. The US indices hit a 13-month low amid rising inflation and rate hikes by the US Federal Reserve. The US dollar continues to gain amid prospect of aggressive rate hikes in the US. The Indian rupee hit a new lifetime low of 77.52 against the US dollar on Monday as foreign investors continue to pull out their investments from Indian markets. Crude oil prices fall on slowing global economic growth aggravated by the Covid-19 lockdown in Shanghai and European Union’s move to soften the proposed ban on Russian oil. European stocks trade higher, showing signs of recovery after a sharp fall on Monday amid fears over lower global economic growth rates.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Energy closed lower while Nifty FMCG closed in the green. Nifty Metal closed over 5% lower than Monday’s level. Nifty IT closed in the red, following the tech-focused NASDAQ 100, which closed lower on Monday.

Nifty 50 closed at 16,240.05 (-61.8, -0.4%) , BSE Sensex closed at 54,364.85 (-105.8, -0.2%) while the broader Nifty 500 closed at 13,855.95 (-135.8, -1.0%)

Market breadth is sharply down. Of the 1,881 stocks traded today, 338 were in the positive territory and 1,520 were negative.

• Aditya Birla Sun Life AMC, Kajaria Ceramics, Procter & Gamble Health, and Star Health and Allied Insurance Company are trading with higher volumes as compared to Monday.

• Tata Power sees a short build-up in its May 26 futures series as its open interest rises 9.9% with put to call ratio at 0.42

• MRF’s Q4FY22 net profit falls 50.2% YoY to Rs 165.2 crore due to high raw material prices, but revenue rises 10.2% YoY to Rs 5,370.8 crore on higher sales volume. Cost of materials consumed rises 13% YoY to Rs 3,293.1 crore and total expenses rise 16.2% YoY to Rs 5,142.8 crore.

• Prudent Corporate Advisory Services’ Rs 538.6-crore IPO gets bids for 36% of the available 60.1 lakh shares on offer on the first day of bidding. The retail investor quota gets bids for 72% of the available 29.5 lakh shares on offer. The issue is entirely an offer for sale of Rs 538.6 crore.

• Asian Paints' Q4FY22 net profit stays flat YoY at Rs 874 crore despite revenues rising 21% YoY to Rs 7,890 crore. Higher input costs and exceptional items of Rs 115 crore owing to devaluation of Sri Lankan currency and certain credit losses hamper its earnings growth.

• Vedant Fashions’ Q4FY22 net profit rises 86.3% YoY to Rs 88.7 crore and revenue rises 53% YoY to Rs 307.4 crore led by strong retail growth across channels. EBITDA margin rises by 230 bps YoY to 49.6% despite total expenses rising 38.9% YoY to Rs 187.8 crore.

• Metal stocks like JSW Steel, Tata Steel, Hindustan Zinc, Vedanta, and Hindalco Industries, among others are falling in trade. The broader sectoral index Nifty Metal is also trading in the red.

• HDFC Securities upgrades its rating on Tata Power from ‘Sell’ to ‘reduce’ with a target price of Rs 231. The brokerage has a neutral outlook on the company as its Mudra unit’s sales fell 67% YoY in Q4FY22. However, the brokerage expects the company’s revenue to grow at a 9.1% CAGR over FY22-FY24.

• Stocks like Mahindra & Mahindra, Shree Cements, Hero MotoCorp, and NTPC, among others, are outperforming their sector over the past month.

• Minda Industries is trading with more than six times its weekly average trading volume. Gujarat Narmada Valley Fertilizers & Chemicals, Godrej Agrovet, Gujarat Fluorochemicals, and EPL are trading at more than three times their weekly average trading volumes.

• ICICI Securities maintains a ‘Buy’ rating on PVR with a target price of Rs 1,965, indicating an upside of 15.2%. The brokerage remains positive about the company’s prospects on rising average ticket prices, rising occupancy rates, and the addition of 126 screens in FY23. The brokerage expects the company’s operating revenue to grow at a 81.7% CAGR over FY22-24.

• Ramkrishna Forgings receives a multi-year export order worth Rs 105 crore per annum from a leading manufacturer of chassis-related systems and components for trailers, trucks and buses in the USA. The company expects supplies to commence from CY23.

• Sun Pharma is falling as its Halol manufacturing facility at Gujarat receives 10 observations from the US Food & Drug Administration (USFDA). The USFDA conducted a good manufacturing practices or GMP inspection from April 26 to May 9.

• Cipla launches RT-Direct COVID-19 RT PCR Test kit in partnership with Genes2Me in India. This RT Direct test protocol does not require RNA extraction process, which makes it faster and helps deliver results in 45 minutes.

• Aarti Drugs Q4FY22 net profit rises 7% YoY to Rs 55.3 crore and revenue rises 38.6% YoY to Rs 697.2 crore on higher sales volumes. EBITDA margin falls by 351 bps YoY to 12.8% as the cost of materials consumed rises 56.3% YoY to Rs 471 crore.

• Infibeam Avenues’ Q4FY22 net profit rises 15.6% QoQ to Rs 28.9 crore mainly due to a deferred tax credit of Rs 24.8 crore. Revenues fall 7% QoQ to Rs 372.1 crore due to reduced demand in its payments business. However, net profit rises 19.6% in FY22 to Rs 86.5 crore and revenues increase by 90% to Rs 1,303.9 crore.

• Dalmia Bharat’s Q4FY22 net profit declines 5.1% YoY to Rs 595 crore but revenue marginally rises by 3.4% YoY to Rs 3,433 crore on higher sales volumes. EBITDA margin falls by 420 bps YoY to Rs 20.1% on high power and fuel costs and rising freight charges.

• JSW Steel's crude steel production increases 22% YoY to 16.67 lakh tonnes in April 2022. Flat rolled products increases 25% YoY to 12 lakh tonnes and long rolled products increases 5% YoY to 3.54 lakh tonnes.

• Rainbow Children's Medicare shares list at a 6% discount to the issue price of Rs 542 on its debut on the bourses after getting bids for 12.4X of the total shares on offer.

• Prudent Corporate Advisory Services raises Rs 159.4 crore from investors by selling 25.3 lakh equity shares at Rs 630 per share to 24 anchor investors. Investors include HSBC, Societe Generale, DSP Mutual Fund, Axis Mutual Fund, UTI MF, Aditya Birla Sun Life Trustee, among others.

• KEI Industries Q4FY22 net profit rises 75.2% YoY to Rs 115.9 crore and revenue rises 44.1% YoY to Rs 1,799.5 crore led by robust growth in the cables segment. Revenue from the cables segment rises 51.9% YoY to Rs 1,621.3 crore. EBITDA margin falls by 120 bps YoY to 10% on a sharp increase in input costs.

• Gujarat Narmada Valley Fertilizers & Chemicals Q4FY22 net profit surges 1.1X YoY to Rs 643.2 crore as revenue increases 59.9% to Rs 2,771.7 crore. Revenue from the fertilizer segment rises 53.9% YoY to Rs 728.7 crore and revenue from chemicals increases 63.1% to Rs 2,019.6 crore. Power and fuel expenses for the company rise 33.3% to Rs 315.5 crore and cost of materials shoots up 1.4X YoY to Rs 1,177.7 crore.

Riding High:

Largecap and midcap gainers today include Eicher Motors Ltd. (2,415.55, 3.04%), Hindustan Unilever Ltd. (2,180.40, 3.01%) and Asian Paints Ltd. (3,086.35, 2.70%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (215.25, -8.95%), Adani Transmission Ltd. (2,482.55, -8.17%) and Adani Green Energy Ltd. (2,486.70, -8.12%).

Movers and Shakers

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

Top high volume gainers on BSE included Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (816.95, 7.76%), Minda Industries Ltd. (892.60, 5.44%) and Berger Paints (India) Ltd. (676.60, 1.85%).

Top high volume losers on BSE were Gujarat Fluorochemicals Ltd. (2,315.90, -5.00%), Indostar Capital Finance Ltd. (174.95, -5.00%) and SRF Ltd. (2,113.15, -5.00%).

Cera Sanitaryware Ltd. (3,839.15, -0.66%) was trading at 16.8 times of weekly average. Venky's (India) Ltd. (1,983.95, -4.24%) and Godrej Agrovet Ltd. (506.80, -3.66%) were trading with volumes 7.2 and 4.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks took off, crossing 52 week highs, while 44 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Power Grid Corporation of India Ltd. (243.65, -0.61%) and Esab India Ltd. (3,383.20, -0.62%).

Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (513.45, -1.39%) and Zydus Lifesciences Ltd. (330.10, -1.71%).

21 stocks climbed above their 200 day SMA including Minda Industries Ltd. (892.60, 5.44%) and Brightcom Group Ltd. (68.60, 4.97%). 19 stocks slipped below their 200 SMA including Tata Steel Ltd. (1,164.90, -6.98%) and Tanla Platforms Ltd. (1,224.95, -6.42%).

Nifty 50 closed at 16240.05 (-61.8, -0.4%) , BSE Sensex closed at 54364.85 (-105.8, -0.2%) while the broader Nifty 500 closed at 13855.95 (-135.8, -1.0%)

Market breadth is sharply down. Of the 1881 stocks traded today, 338 were in the positive territory and 1520 were negative.

Riding High:

Largecap and midcap gainers today include Eicher Motors Ltd. (2415.55, 3.04%), Hindustan Unilever Ltd. (2180.40, 3.01%) and Asian Paints Ltd. (3086.35, 2.70%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (215.25, -8.95%), Adani Transmission Ltd. (2482.55, -8.17%) and Adani Green Energy Ltd. (2486.70, -8.12%).

Movers and Shakers

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

Top high volume gainers on BSE included Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (816.95, 7.76%), Minda Industries Ltd. (892.60, 5.44%) and Berger Paints (India) Ltd. (676.60, 1.85%).

Top high volume losers on BSE were Gujarat Fluorochemicals Ltd. (2315.90, -5.00%), Indostar Capital Finance Ltd. (174.95, -5.00%) and SRF Ltd. (2113.15, -5.00%).

Cera Sanitaryware Ltd. (3839.15, -0.66%) was trading at 16.8 times of weekly average. Venky's (India) Ltd. (1983.95, -4.24%) and Godrej Agrovet Ltd. (506.80, -3.66%) were trading with volumes 7.2 and 4.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks took off, crossing 52 week highs, while 44 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Power Grid Corporation of India Ltd. (243.65, -0.61%) and Esab India Ltd. (3383.20, -0.62%).

Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (513.45, -1.39%) and Zydus Lifesciences Ltd. (330.10, -1.71%).

21 stocks climbed above their 200 day SMA including Minda Industries Ltd. (892.60, 5.44%) and Brightcom Group Ltd. (68.60, 4.97%). 19 stocks slipped below their 200 SMA including Tata Steel Ltd. (1164.90, -6.98%) and Tanla Platforms Ltd. (1224.95, -6.42%).

Trendlyne Analysis

Nifty 50 closed in the red, with the Indian volatility, India VIX rising above 22%. Asian stocks trade lower, tracking the US indices, which closed in the red on Friday. Market volatility is expected to continue this week as investors remain cautious of prevailing high inflation levels and the impact of rate hikes on the economy. China tightened the lockdown in Shanghai to curb the spread of Covid 19 leading to concerns about slow economic growth. Crude oil falls as investors monitor talks at the European Union on a Russian oil embargo that is expected to tighten global supplies. European indices follow the global trend and trade lower than Friday’s levels.

Nifty Smallcap 100 and Nifty Next 50 closed in the red, following the benchmark index. Nifty Energy and Nifty Auto also closed lower than Friday’s levels. Nifty IT closed flat with the prospect of an increase in profitability through forex gains as the Indian rupee hits a new lifetime low of Rs 77.48 against the US dollar.

Nifty 50closed at 16,301.85 (-109.4, -0.7%), BSE Sensexclosed at 54,470.67 (-364.9, -0.7%) while the broader Nifty 500closed at 13,991.75 (-154, -1.1%)

Market breadth is overwhelmingly negative. Of the 1,896 stocks traded today, 412 were gainers and 1,444 were losers.

• Tube Investments of India, Saregama India, Krishna Institute of Medical Sciences, and Aditya Birla Sun Life AMC are trading with higher volumesas compared to Friday.

• Navin Fluorine International sees a short build-up in its May 26 futures series. Its open interest rises sharply by 24.6% with put to call ratio at 0.41

• Larsen & Toubroreceives order worth Rs 1,000-2,500 crore from the department of water resources, the Government of Jharkhand to execute the Masalia Ranishwar megalift irrigation scheme on a turnkey basis. The scope of the project includes survey, design, and construction of a 158 m long barrage across the Sidheshwari river.

• HDFC Securities maintains a ‘Buy’ rating on Cholamandalam Investment and Finance with a target price of Rs 788, indicating an upside of 23.9%. The brokerage is positive about the company’s prospects due to its robust disbursals, high growth of new business, and rising assets under management.

• Media stocks like Zee Entertainment Enterprises, Sun TV Network, Network 18 Media & Investments, TV 18 Broadcast, and Saregama India, among others are falling in trade. The broader sectoral index Nifty Media is also trading in the red.

• ICICI Bank, Ambuja Cements, Tata Chemicals, and KPIT Technologies, among others, are outperforming the Nifty 50 index over the past week, post Q4FY22 results.

• Life Insurance Corporation of India’s Rs 21,008.4-crore IPO gets bids for 2.9X of the available 16.2 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 1.9X of the available 6.9 crore shares on offer.

• UPL’s Q4FY22 net profit rises 29.7% YoY to Rs 1,379 crore and revenue rises 24.2% YoY to Rs 15,977 crore on the back of price hikes and a better product mix. EBITDA margin rises by 7.5 percentage points YoY to 35.9% on higher revenue.

• Apollo Tricoat Tubes' Q4FY22 net profit falls 10% YoY to Rs 30.8 crore despite its revenues rising 77.5% to Rs 830.5 crore. Sales growth is primarily driven by realizations as volumes fell 2% YoY to 64,746 tonnes. Moreover, higher inputs costs ultimately hit the profitability of the company.

• DCB Bank’s Q4FY22 net profit rises 45.5% YoY to Rs 113.4 crore and revenue rises 6.5% YoY to 1,034.7 crore on rising business volumes from the retail banking segment. The retail banking segment rises 10.5% YoY to Rs 879.4 crore. Net interest margin rises 47 bps YoY to 3.9% and net NPA ratio falls by 34 bps YoY to 1.97%.

• Aditya Birla Sun Life AMC is trading with more than 12 times its weekly average trading volume. Procter & Gamble Health, Privi Speciality Chemicals, Navin Fluorine International, and Go Fashion (India) are trading at more than two times their weekly average trading volumes.

• BOB Capital Markets maintains a ‘Hold’ rating on Blue Star with a target price of Rs 1,200, indicating an upside of 10%. The brokerage remains positive about the company's prospects in its electro-mechanical and commercial air conditioning systems segment. The brokerage expects the company’s revenue to grow at a 15.2% CAGR over FY22-24.

• Indian rupee falls to an all-time low of Rs 77.4 against the US dollar. This is because of the continuous dump of domestic stocks by foreign investors. Foreign investors sell Rs 6,400 crore worth of shares in the last week.

• SJVN wins a 25-year floating solar power project worth Rs 585 crore based in Madhya Pradesh. The company will generate 218.5 million units of power in the first year and 5,158 million units of power for the entire duration of the project. The company also bags a wind-solar hybrid project worth Rs 195 crore.

• Navin Fluorine International’s Q4FY22 net profit rises marginally by 0.5% YoY to Rs 75.2 crore. However, revenue rises 17.1% YoY to Rs 421.3 crore driven by robust growth of 21.4% YoY in the speciality chemicals segment. EBITDA margin falls by 238 bps YoY to 23% due to high input costs and employee costs.

• Campus Activewear shares list at a 23% premium to the issue price of Rs 292 on its debut on the bourses after getting bids for 51.2X of the total shares on offer.

• Lupin receives US Food & Drug Administration (USFDA) approval for its Lloperidone tablets and Pregabalin capsules. Lloperidone is a generic equivalent of Fanapt tablets, which has a US market size of $162 million. Pregabalin capsule is a generic equivalent of Lyrica capsule that has a US market size of $263 million.

• Larsen & Toubro Infotech's Chief Executive Officer and Managing Director Sanjay Jalona resigns from the position due to personal reasons on Friday.

• Larsen & Toubro Infotech (LTI) and Mindtree are set to merge, creating India’s sixth-largest IT services company a with combined revenue of Rs 26,000 crore. The merged entity is to be called LTIMindtree. According to the merger terms, shareholders of Mindtree will be issued 73 shares of LTI for every 100 shares held in Mindtree.

• Tata Power’s Q4FY22 net profit rises 28% YoY to Rs 503.1 crore which includes a deferred tax credit of Rs 588 crore. The company’s revenue rises 16.8% to Rs 12,219.4 crore on the back of growth in its transmission and distribution businesses. Net profit rises 54.5% YoY in FY22 to Rs 1,741.5 crore and revenues increase by 32% to Rs 43,735.6 crore.

• Reliance Industries falls even though its Q4FY22 net profit rises 22.5% YoY to Rs 16,203 crore with increase in revenue by 36.7% YoY to Rs 2.1 lakh crore. Most of the revenue growth came from O2C (oil to chemicals) because of high energy prices and its retail business. The company recommends a dividend of Rs 8 per equity share.

Riding High:

Largecap and midcap gainers today include Indus Towers Ltd. (205.90, 3.52%), Federal Bank Ltd. (93.80, 2.96%) and Oil India Ltd. (236.40, 2.83%).

Downers:

Largecap and midcap losers today include Canara Bank (201.35, -8.21%), Tata Power Company Ltd. (230.00, -6.20%) and Adani Green Energy Ltd. (2,706.40, -5.86%).

Volume Shockers

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

Top high volume gainers on BSE included BASF India Ltd. (2,808.55, 8.40%), NOCIL Ltd. (245.60, 6.41%) and Cholamandalam Financial Holdings Ltd. (613.70, 4.50%).

Top high volume losers on BSE were Hindustan Copper Ltd. (94.40, -9.75%), Bajaj Electricals Ltd. (1,011.15, -7.45%) and Bajaj Consumer Care Ltd. (152.05, -6.03%).

DCB Bank Ltd. (80.90, 3.78%) was trading at 24.5 times of weekly average. Kajaria Ceramics Ltd. (1,010.35, -1.24%) and Procter & Gamble Health Ltd. (4,388.50, 1.44%) were trading with volumes 8.7 and 5.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock hit their 52-week highs, while 42 stocks tanked below their 52-week lows.

Stock touching their year highs included - Power Grid Corporation of India Ltd. (245.15, 2.83%).

Stocks making new 52 weeks lows included - 3M India Ltd. (18,735.75, 1.55%) and Amara Raja Batteries Ltd. (520.70, -1.83%).

4 stocks climbed above their 200 day SMA including Federal Bank Ltd. (93.80, 2.96%) and Krishna Institute of Medical Sciences Ltd. (1,286.70, 2.55%). 39 stocks slipped below their 200 SMA including Canara Bank (201.35, -8.21%) and APL Apollo Tubes Ltd. (893.75, -5.92%).