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Trendlyne Analysis

Nifty 50 erased losses and closed in the green on a volatile day of trade. All Asian indices closed higher than Monday’s levels despite the US indices closing in the red yesterday. US stocks fell as US Federal Reserve Chairman Jerome Powell adopted a more hawkish tone on monetary policy. The Fed Chairman said that the Fed is prepared to hike the interest rates by a half percentage point if needed. Indian state fuel retailers raise petrol and diesel prices by 80 paise per litre as crude oil prices continue to trade at elevated levels due to the ongoing Russia-Ukraine war.

Nifty Smallcap 100 closed in the green but underperformed the benchmark index. Nifty Next 50 closed lower after opening in the green. Nifty Metal, which has gained over 5% in the last three trading sessions, ended the day in the green for the fourth consecutive trading session. Nifty IT closed sharply higher tracking the tech-heavy NASDAQ 100 futures, which is trading in the green.

Upbeat trading today. Nifty 50 closed at 17,315.50 (197.9, 1.2%), BSE Sensex closed at 57,989.30 (696.8, 1.2%) while the broader Nifty 500 closed at 14,724.05 (121.7, 0.8%)

Market breadth is in the red. Of the 1,886 stocks traded today, 820 were on the uptrend, and 1,030 went down.

• Kalpataru Power Transmissions,Procter & Gamble Health, Tube Investments of India, and Cholamandalam Financial Holdings trading with higher volumes as compared to Monday

• Jubilant Foodworks (JFL) issues notice to Golden Harvest QSR to exercise its call option to acquire the remaining 10% equity stake in Jubilant Golden Harvest Limited (JGHL) as agreed on March 6, 2018. Accordingly, JFL will acquire the complete 49% equity stake of Golden Harvest QSR in JGHL. Post the exercise of call options, JGHL will become a wholly owned subsidiary of JFL.

• FMCG stocks are trading lower with stocks like Hindustan Unilever, Nestle India, Dabur India, and Marico among others falling in trade. The broader sectoral index Nifty FMCG is also trading lower today.

• Axis Securities maintains a ‘Buy’ rating on CreditAccess Grameen with a target price of Rs 831, indicating an upside of 10%. The brokerage remains bullish on the company due to its deep rural presence, expanding branch network, and improving traction on customer addition.

• Tata Motors announces price hike of 2-2.5% of its commercial vehicle range with effect from April 1, 2022. The increase in the prices of steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited the price hike of commercial vehicles.

• HDFC Securities upgrades rating on BPCL to 'BUY' with a target price upside of 15.4%. The brokerage is positive on the OMC owing to its attrative valuation, robust refining margins of $12.3/bbl and possible resumption in daily revision of retail auto fuel prices.

• Stocks of upstream oil company ONGC are trading higher on the back of rise in international crude oil prices. Additionally, stocks of oil marketing companies like BPCL and HPCL are trading up on account of an 80 paise hike in petrol, diesel prices as well as a Rs 50 hike in LPG cylinder prices.

• KSB is trading with more than sixteen times its weekly average trading volume. Mahindra Holidays & Resorts India, Ratnamani Metals & Tubes, Graphite India, and Rain Industries are trading at more than three times their weekly average trading volumes.

• Hindustan Unilever falls after reports suggest of discussions to buy majority stake in Mahashian Di Hatti (MDH).

• Future Retail hits its all-time low of Rs 29.7 as banks announce to initiate debt recovery proceedings this week against the company. The banks have initiated the proceedings to safeguard their interests after Reliance unexpectedly took over some of the retailer’s stores. Future Group has more than $ 4 billion in debt.

• Indoco Remedies receives approval from the United States Food & Drug Administration (USFDA) for Lacosamide tablets in the strengths of 50 mg, 100 mg, 150 mg and 200mg. Lacosamide tablets are the generic version of Vimpat tablets, which has a market size of $ 1.7 billion. Lacosamide tablets are used for the prevention and control of seizures

• IT major Wipro's board will consider the interim dividend for FY22 in the board meeting to be held on Friday. The company had earlier approved an interim dividend of Rs 1 per share in January 2022 and paid the same on February 5, 2022

• CLSA maintains ‘Buy’ on ICICI Bank but cuts target price to Rs 1,050 from Rs 1,125 as it expects RBI’s unchanged repo rate (4%) will affect margins in near term. Repo-linked loans account for 38% of the bank’s books and margins will face constraint if RBI decides to keep rates on hold for another few months. The recent spike in operating expenses is also a sign of concern as employee cost inflation remains high. However, the brokerage expects the bank to grow by 17% CAGR over FY22-24.

• Equitas Small Finance Bank (SFB) and Equitas Holdings are rising as their boards approve a merger of the two companies. This merger proposes the amalgamation of Equitas Holdings into and with Equitas SFB and the dissolution without winding-up of the transferor company (Equitas Holdings). Shareholders of Equitas Holdings will be allotted 231 equity shares for every 100 shares of the Equitas SFB.

• Sun Pharmaceutical Industries inks pact with Japan’s Daiichi Sankyo Company to acquire its 11.28% stake in Zenotech Laboratories. Sun Pharma will acquire 68.8 lakh equity shares worth Rs 5.32 crore. After the acquisition, Sun Pharma’s stake in the company will increase to 68.84% from 57.56%.

Riding High:

Largecap and midcap gainers today include Tech Mahindra Ltd. (1,538.20, 3.95%), Adani Total Gas Ltd. (1,883.95, 3.85%), and L&T Finance Holdings Ltd. (75.10, 3.73%).

Downers:

Largecap and midcap losers today include Macrotech Developers Ltd. (1,064.40, -3.97%), Abbott India Ltd. (16,685.60, -3.28%) and Zee Entertainment Enterprises Ltd. (248.55, -3.21%).

Movers and Shakers

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

Top high volume gainers on BSE included Chalet Hotels Ltd. (303.65, 12.82%), Mahindra Holidays & Resorts India Ltd. (233.25, 9.84%) and Ratnamani Metals & Tubes Ltd. (2,509.85, 9.69%).

Top high volume losers on BSE were Sun TV Network Ltd. (459.85, -1.29%), Hawkins Cookers Ltd. (5,340.00, -1.25%) and J B Chemicals & Pharmaceuticals Ltd. (1,599.30, -0.22%).

KSB Ltd. (1,237.70, 6.31%) was trading at 18.8 times of weekly average. Graphite India Ltd. (515.15, 4.58%) and Rain Industries Ltd. (194.35, 5.80%) were trading with volumes 6.2 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52-week highs, while 2 stocks hit their 52-week lows.

Stocks touching their year highs included - Century Plyboards (India) Ltd. (710.50, 2.67%), GHCL Ltd. (557.30, 3.63%) and Linde India Ltd. (3,332.70, -1.32%).

Stocks making new 52 weeks lows included - Castrol India Ltd. (103.75, -1.47%) and Mishra Dhatu Nigam Ltd. (168.25, -0.59%).

13 stocks climbed above their 200 day SMA including KSB Ltd. (1,237.70, 6.31%) and Alok Industries Ltd. (25.60, 3.23%). 16 stocks slipped below their 200 SMA including Macrotech Developers Ltd. (1,064.40, -3.97%) and Welspun Corp Ltd. (145.00, -3.27%).

Trendlyne Analysis

Nifty 50 closes in the red with the Indian volatility index, India VIX rising 8.9%. Asian indices close mixed after recouping some losses last week on hopes of a peace deal between Russia and Ukraine. US indices continued their climb on Friday after the US Federal Reserve commenced the interest rate hikes with an expected quarter percentage point on Thursday. Crude oil prices rise to trade higher as investors fear its supply chain disruption with the war in Ukraine showing no sign of stopping.

Nifty Smallcap 100 closes in the green despite the benchmark index closing lower than Thursday’s level. Nifty Midcap 100 gives up its gains towards the end of the trading session to close in the red. Nifty Metal closes sharply higher while Nifty Bank and Nifty FMCG close in the red.Nifty IT closes lower tracking the NASDAQ 100 futures, which is trading in the red.

Markets fell in today's trading. Nifty 50 closed at 17,117.60 (-169.5, -1.0%), BSE Sensex closed at 57,292.49 (-571.4, -1.0%) while the broader Nifty 500 closed at 14,602.35 (-119.4, -0.8%).

Market breadth is in the red. Of the 1,904 stocks traded today, 758 were on the uptick, and 1,103 were down.

• AIA Engineering, KPR Mill, WABCO India, and Vardhman Textiles trading with higher volumes as compared to Thursday.

• Greaves Cotton rises as its retail business Greaves Retail enters a partnership with Bounce Infinity, a two-wheeler electric ride-sharing app, to provide battery swapping stations for Greaves electric vehicles (EV). Bounce Infinity launched its in-house EV mobility solutions for Bounce in June 2019.

• ICICI Securities maintains a ‘Buy’ rating on Prince Pipes & Fittings but has reduced its target price to Rs 804 from Rs 833, indicating a 23% upside. The brokerage remains bullish for the company’s long-term prospects due to its comprehensive product portfolio, focus on enhancing distribution reach, and emphasis on branding.

• ICICI Securities maintains a ‘BUY’ rating on Shyam Metallics with a target price of Rs 400, indicating an upside of 23.5%. The brokerage remains positive as the company announces a capex of Rs 990 crore in addition to the committed capex of Rs 3,000 crore to be incurred over the next three-four years. The brokerage expects the company’s revenue to grow at 24% CAGR over FY21-FY24.

• NBCC surges on receiving work orders from the Ladakh government worth Rs 500 crore. The work order involves comprehensive design, engineering, and project management consultancy services.

• Jubilant Pharmova is trading with more than nine times its weekly average trading volume. Valiant Organics, Uflex, Wockhardt and Aurobindo Pharma are trading at more than three times their weekly average trading volumes.

• Reliance Industries' wholly owned subsidiary i.e. Reliance Retail Ventures is set to acquire 89% stake in Purple Panda Fashions for Rs 950 crore. The target company owns women's innerwear and loungewear D2C brand Clovia. Reliance Industries looks to strengthen its innerwear portfolio which already consists of brands like Zivame and Amante with this acquisition.

• Godrej Properties achieves sales worth Rs 1,002 crore in FY22 for it's township project Riverhills in Mahalunge, Pune. Since the launch of their first phase in the township in September 2019, the company has sold over 3,600 homes for a booking value of over Rs 2,100 crore.

• Aurobindo Pharma and Strides Pharma are rising as they partner with Medicines Patent Pool (MPP) to commercialize the generic version of Pfizer’s COVID-19 oral treatment across 95 low and middle-income countries. Kovidax is a generic version of Pfizer’s COVID-19 oral treatment that consists of Nirmatrelvir tablets co-administered with Ritonavir tablets. Strides Pharma will manufacture Kovidax at its flagship facility in Bengaluru.

• Maruti Suzuki rises after its parent company Suzuki Motor Corp announces investment of Rs 10,450 crore in Suzuki Motor Gujarat, its wholly owned subsidiary, to produce electric vehicles and batteries. The planned investment outlay will be spent over a period of 4 years. Maruti Suzuki India handles the sales and marketing of products manufactured by Suzuki Motor Gujarat.

• Wockhardt enters into a collaboration agreement with Serum Life Sciences, UK, a subsidiary of the Serum Institute of India (SII). This collaboration is a profit-sharing arrangement between the two parties with an overall term of 15 years. The companies expect to deliver up to an additional 150 million doses of multiple vaccines each year from SII's new facility in the UK.

• Ruchi Soya announces a price band of Rs 615 - 650 a share for its Rs 4,300 crore follow-on public offer. The issue opens on March 24 and closes on March 28, 2022. The minimum bid lot is 21 and in multiples of 21 equity shares thereafter. Through this issue, the promoters of the company seek to reduce their shareholding to comply with the minimum shareholding rules of the Securities and Exchange Board of India (SEBI).

• Jindal Steel & Power’s (JSP) wholly-owned subsidiary Jindal Steel & Power (Mauritius) prepays $357 million to its lenders. Post this payment JSP’s overseas debt comes down to $130 million from $1.8 billion. Majority of the overseas debt now rests with its Australian subsidiary worth $113 million which the company plans to repay by September 2022.

Riding High:

Largecap and midcap gainers today include Aurobindo Pharma Ltd. (679.40, 6.10%), Oil India Ltd. (233.20, 6.05%) and Vedanta Ltd. (400.05, 5.71%).

Downers:

Largecap and midcap losers today include Ruchi Soya Industries Ltd. (910.15, -9.38%), Petronet LNG Ltd. (194.85, -5.62%) and GAIL (India) Ltd. (144.30, -4.63%).

Volume Rockets

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

Top high volume gainers on BSE included Wockhardt Ltd. (326.35, 11.67%), Jubilant Pharmova Ltd. (449.65, 10.36%) and Sterlite Technologies Ltd. (209.15, 9.76%).

Top high volume loser on BSE was Procter & Gamble Health Ltd. (4,342.20, -0.41%).

Uflex Ltd. (610.15, 8.37%) was trading at 8.8 times of weekly average. Delta Corp Ltd. (312.75, 9.60%) and Aurobindo Pharma Ltd. (679.40, 6.10%) were trading with volumes 5.8 and 4.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks hit their 52-week highs, while 2 stocks hit their 52-week lows.

Stocks touching their year highs included - Cummins India Ltd. (1,054.00, 3.00%), Delta Corp Ltd. (312.75, 9.60%) and Gujarat State Fertilizer & Chemicals Ltd. (148.95, 1.46%).

Stocks making new 52 weeks lows included - Thyrocare Technologies Ltd. (772.85, -0.95%) and Sequent Scientific Ltd. (122.65, -0.93%).

19 stocks climbed above their 200 day SMA including Sun Pharma Advanced Research Company Ltd. (292.90, 7.47%) and IDBI Bank Ltd. (44.75, 4.43%). 11 stocks slipped below their 200 SMA including Ruchi Soya Industries Ltd. (910.15, -9.38%) and GAIL (India) Ltd. (144.30, -4.63%).

Trendlyne Analysis

Nifty 50 extended its gains throughout the day and closed higher with the Indian volatility index, India VIX falling sharply for the second consecutive day. Asian indices closed in the green, tracking the rally in the US indices. US stocks closed sharply higher on Wednesday as the US Federal Reserve commenced the interest rate hikes with an expected quarter percentage point and signaled hikes at all six remaining meetings. Fed Chairman Jerome Powell assured investors that the US economy is “very strong” and can handle monetary tightening. Crude oil prices rise to trade over $100 per barrel as uncertainties prevail over the Ukraine crisis.

Barring Nifty IT, all sectoral indices closed in the green. Nifty Next 50 and Nifty Smallcap 100 closed in the green to extend their gains from Wednesday. Nifty Metal, which gained 2.6% yesterday, closed 1.9% higher. Nifty IT closed marginally lower despite the tech-heavy NASDAQ 100 surging 3.7% yesterday.

Markets rose in today's trading.Nifty 50 closed at 17,287.05 (311.7, 1.8%), BSE Sensex closed at 57,863.93 (1,047.3, 1.8%) while the broader Nifty 500 closed at 14,721.70 (239.9, 1.7%)

Market breadth is in the green. Of the 1,881 stocks traded today, 1,170 were in the positive territory and 660 were negative.

• SKF India, KEI Industries, IIFL Wealth Management, and Adani Total Gas trading with higher volumes as compared to Wednesday.

• Hindustan Construction Company and Om Infra's joint venture receives a contract worth Rs 609 crore from the public health engineering department, the government of Rajasthan, for the construction of the Nokha water supply project to provide functional household tap connection in Bikaner.

• Jefferies initiates coverage on Nykaa with a 'BUY' rating and a target price upside of 10.3%. The brokerage is positive on this company as it leads the online beauty segment and its fashion segment is scaling up fast. The company also enjoys customer stickness due to its diverse and authentic product portfolio.

• Voltas is rising as its board approves a joint venture (JV) arrangement with Highly International (Hong Kong), a wholly-owned subsidiary of Shanghai Highly Company. The companies plan to engage in the business of development, manufacture, marketing, sale, and service of inverter compressors.

• In its buyback offer of nearly Rs 180-crore, KPR Mills will buy 1 share for every 16 shares held by the retail investors on the record date i.e. Febuary 19, 2022. KPR will buy back 5 shares for a lot of 891 shares held by all other eligible investors.

• IFB Industries is trading with more than 35 times its weekly average trading volume. Timken India, Trent and Jindal Saw are trading at more than six times their weekly average trading volumes.

• Macquirie slashes the target price on Paytm by 36% to Rs 450 citing concerns on its long-term growth and cash flow generation. The brokerage holds a negative view on the company after RBI directed Paytm Payments Bank to stop onboarding new customers. The chances of the company getting a small finance banking license are now bleak.

• Hem Securities initiates coverage on Endurance Technologies with a ‘Buy’ rating and a target price of Rs 1,342, indicating an upside of 15%. The brokerage is bullish on the company’s strong positioning in the 2-wheeler segment, expansion plans into various segments like disk brakes & alloy wheels, new customer wins, and increasing EV penetration.

• JSW Energy is rising on the bourses as it completes the reorganization of its green (renewable) and grey (thermal) business areas to focus on renewable and thermal power segments. As a result, three overseas subsidiaries of the Company have been transferred to JSW Neo Energy.

• Godrej Properties rises as it achieves sales of Rs 1,650 crore from Godrej Woods project in Noida. The company sold 855 homes within a year of the launch of the project.

• Jindal Poly Films (JPFL) is rising as it signs an agreement for the sale of a minority stake in its packaging films business to Brookfield Asset Management. The asset management company agrees to a Rs 2,000 crore deal with JPFL for the acquisition of a non-controlling minority stake in JPFL Films, which is subject to the approval of the members of the Company

• BOB Capital Markets initiates coverage on Zydus Wellness with a ‘BUY’ rating and a target price of Rs 2,185, indicating an upside of 45%. The brokerage has a positive outlook on the company on the back of its product expansion, distribution expansion, and Heinz India merger. The brokerage expects the company’s net profit to grow at a CAGR of 11% over FY21-24.

• Adani Power acquires Essar power's 1,200 MW thermal power project in Mahan, Madhya Pradesh for Rs 4,250 crore. The cost of acquisition of Essar Power M P includes the cost of compliance with environmental and emission norms. Essar Power M P is undergoing an insolvency resolution.

Riding High:

Largecap and midcap gainers today include Trent Ltd. (1,262.05, 7.75%), L&T Finance Holdings Ltd. (71.35, 7.13%) and Sona BLW Precision Forgings Ltd. (684.50, 6.21%).

Downers:

Largecap and midcap losers today include Ruchi Soya Industries Ltd. (1,004.35, -6.25%), Oil India Ltd. (219.90, -6.15%) and Max Healthcare Institute Ltd. (334.60, -4.58%).

Volume Shockers

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

Top high volume gainers on BSE included Angel One Ltd. (1,619.05, 14.23%), IFB Industries Ltd. (996.70, 13.22%) and Brigade Enterprises Ltd. (529.15, 10.47%).

Top high volume losers on BSE were Max Healthcare Institute Ltd. (334.60, -4.58%), Vardhman Textiles Ltd. (2,639.95, -4.19%) and ABB India Ltd. (2,101.35, -4.09%).

Grindwell Norton Ltd. (1,837.90, -0.11%) was trading at 12.8 times of weekly average. Timken India Ltd. (2,198.75, 6.47%) and YES Bank Ltd. (12.95, 1.17%) were trading with volumes 10.6 and 10.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks made 52-week highs, while 1 stock was underachiever and hit their 52-week lows.

Stocks touching their year highs included - Cholamandalam Investment & Finance Company Ltd. (719.85, 3.22%), GHCL Ltd. (531.60, 0.83%) and Sun Pharmaceutical Industries Ltd. (911.60, 2.52%).

Stock making new 52 weeks lows included - Thyrocare Technologies Ltd. (780.25, -0.83%).

33 stocks climbed above their 200 day SMA including EIH Ltd. (139.25, 8.45%) and Motilal Oswal Financial Services Ltd. (892.25, 7.27%). 4 stocks slipped below their 200 SMA including Max Healthcare Institute Ltd. (334.60, -4.58%) and Au Small Finance Bank Ltd. (1,163.40, -1.31%).

Trendlyne Analysis

Nifty 50 extended its gains throughout the day and closed sharply higher with the Indian volatility index, India VIX falling 9.8%. Most Asian stocks closed in the green with Chinese stocks easing after a sell-off on Tuesday. Crude oil prices continue to fall as investors expect positive developments in the Russia-Ukraine ceasefire talks. US indices rallied yesterday ahead of the US Federal Reserve’s monetary policy meeting, to be concluded today. Investors expect the Fed to commence the interest rate hikes despite the uncertainty of the impact of the Russia-Ukraine war on the US economy.

All sectoral indices closed in the green. Nifty Next 50 and Nifty Midcap 100 closed sharply higher, outperforming the benchmark index. Nifty Metal, which shed over 4% on Tuesday, closed in the green. Nifty IT also ended the day in green, tracking the tech-heavy NASDAQ 100, which rose 3.2% yesterday.

Markets rose in today's trading. Nifty 50 closed at 16,975.35 (312.4, 1.9%), BSE Sensex closed at 56,816.65 (1,039.8, 1.9%) while the broader Nifty 500 closed at 14,481.80 (266.0, 1.9%)

Market breadth is overwhelmingly positive. Of the 1,876 stocks traded today, 1,331 were on the uptrend, and 499 went down.

• WABCO India, Sundram Fasteners, Westlife Development, and CG Power and Industrial Solutions trading with higher volumes as compared to Tuesday.

• HDFC Securities maintains a 'Reduce' rating on Jubliant Foodworks but cuts the target price by 27%. The brokerage holds a negative view on the company post the resignation of its CEO Pratik Pota and believes that the execution risk is higher w.r.t its medium-term massive store expansion. HDFC Sec also reduces the profit growth estimates by 4% for next two years.

• Consumer facing companies are trading up with stocks like Havells, Voltas, Aditya Birla Fashion and Retail and Bajaj Electricals rising. The broader sectoral index i.e. BSE Consumer Durables is also trading in green today.

• Unichem Laboratories is rising as it receives approval for abbreviated new drug application of Nebivolol Tablets from the USFDA to market a generic version of Bystolic Tablets, of Allergan Sales, LLC. Nebivolol is used in the treatment of hypertension.

• General Insurance Corporation of India is trading with more than 25 times its weekly average trading volume. The New India Assurance Company, RHI Magnesita and Sundram Fasteners are trading at more than seven times their weekly average trading volumes.

• ICICI Bank rises after it announces a partnership with Emirates Skywards to offer co-branded credit cards in India. These credit cards will allow consumers to earn reward points or miles on travel and lifestyle related spending activities. The company consistently gained market share from HDFC Bank in terms of credit card spends in FY22

• Zomato’s board of directors approve a $150 million loan to Grofers India Private Limited (GIPL) in one or more tranches. This loan to Blinkit (formerly Grofers) will carry an interest rate of 12% or higher per annum for a period of up to one year. Reports suggest that Zomato is in discussions to acquire Blinkit (formerly Grofers) in a share swap deal. Shareholders of Zomato are expected to get 10 Blinkit shares for each held in their company.

• ICICI Securities maintains a ‘Hold’ rating on Mahanagar Gas with a target price of Rs 850, indicating an upside of 9%. The brokerage expects the company to benefit from the proposal by the Maharashtra Government to reduce VAT from 13.5% to 3%, as the company can pass on the benefit to its customers and maintain its prices in the near term.

• Macrotech Developers rises as its arm Lodha Developers International pre-pays $ 170 million (Rs 1,298 crore) of debt after recording its best-ever quarter sales of Rs 1,900 crore from two projects in London

• IT major Infosys is rising as the Board will consider the final dividend for FY22 in the board meeting to be held on April 12 and 13, 2022. The company will also finalize the results for year ended March 31, 2022 in this meeting.

• InterGlobe Aviation is rising as it resumes flights between India and Thailand from Tuesday after a span of two years. The company plans to operate the Thailand flights under air bubble agreement till March 26 and thereafter as part of its scheduled commercial international operations. Previously, the Centre had announced that scheduled commercial international flights will resume in India from March 27.

• Punjab National Bank reports a borrowal fraud of Rs 2,060.1 crore in one of its non-performing asset (NPA) account. The NPA account belongs to M/s IL&FS Tamil Nadu Power Co. Ltd. at Extra Large Corporate Branch at Delhi. The lender has provisions of Rs 824 crore as per prescribed prudential norms. This account was classified as a fraud account by Punjab & Sind Bank in February 2022.

Riding High:

Largecap and midcap gainers today include The New India Assurance Company Ltd. (124.75, 8.76%), General Insurance Corporation of India (122.30, 7.05%) and Nippon Life India Asset Management Ltd. (335.70, 6.28%).

Downers:

Largecap and midcap losers today include MphasiS Ltd. (3,098.00, -2.80%), Kansai Nerolac Paints Ltd. (448.60, -2.06%) and Ruchi Soya Industries Ltd. (1,071.35, -1.78%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included The New India Assurance Company Ltd. (124.75, 8.76%), General Insurance Corporation of India (122.30, 7.05%) and Bharat Dynamics Ltd. (555.10, 6.24%).

Top high volume losers on BSE were TCI Express Ltd. (1,770.40, -2.19%), KEI Industries Ltd. (1,004.25, -1.90%) and Blue Star Ltd. (980.40, -0.23%).

RHI Magnesita India Ltd. (569.85, 4.47%) was trading at 12.3 times of weekly average. Sundram Fasteners Ltd. (862.40, 5.16%) and Balaji Amines Ltd. (3,081.25, 6.23%) were trading with volumes 8.7 and 6.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52-week highs, while 1 stock were underachiever and hit their 52-week lows.

Stocks touching their year highs included - Cholamandalam Investment & Finance Company Ltd. (697.40, 1.69%), Linde India Ltd. (3,192.40, -1.97%) and Bharat Dynamics Ltd. (555.10, 6.24%).

Stock making new 52 weeks lows included - Thyrocare Technologies Ltd. (786.80, -0.69%).

22 stocks climbed above their 200 day SMA including Century Textiles & Industries Ltd. (804.40, 6.56%) and IDFC Ltd. (58.95, 5.74%). 5 stocks slipped below their 200 SMA including IIFL Finance Ltd. (288.95, -1.01%) and MMTC Ltd. (47.25, -0.94%).

Trendlyne Analysis

Nifty 50 snapped its five-day winning streak and closed in the red. Most Asian indices closed lower amid tepid global cues. Hong Kong index, Hang Seng closed sharply lower as China announced lockdowns in cities to battle the omicron variant. Crude oil prices continue to fall as investors expect positive developments in the Russia-Ukraine ceasefire talks to be held today. US indices closed lower on Monday ahead of the US Federal Reserve’s two-day monetary policy meeting, scheduled to commence today. The US Federal Reserve is set to start the interest rate hikes on Wednesday despite the uncertainty of the impact of the Russia-Ukraine war on the US economy.

Nifty Smallcap 100, which opened higher than Monday’s level, ended the day in red, shedding close to 1.5%. BarringNifty Auto, all sectoral indices closed in the red. Nifty Metal plunged over 4% and extended its losses from Monday.Nifty IT fell 2.5% tracking the tech-heavy NASDAQ 100, which closed in the red yesterday.

Gloom in markets in today's trading. Nifty 50 closed at 16,663.00 (-208.3, -1.2%), BSE Sensex closed at 55,776.85 (-709.2, -1.3%) while the broader Nifty 500 closed at 14,215.85 (-158.8, -1.1%)

Market breadth is moving down. Of the 1,860 stocks traded today, 513 showed gains, and 1,326 showed losses.

• WABCO India, Tube Investments of India, Nesco, and Adani Transmission trading with higher volumes as compared to Monday.

• Granules Pharmaceuticals (GPI), a wholly-owned subsidiary of Granules India receives an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA). The GPI facility, which is located in Virginia, USA, was inspected by the USFDA from 24th to 28th January 2022.

• Godrej Properties rises as it acquires 50 acres of land in Sonipat for a residential development project. This is an expansion of the company’s residential portfolio in the NCR region. The company plans to invest Rs 7,500 crore over the next 12-18 months on more such real estate projects.

• Metal stocks are trading lower with stocks like Tata Steel, JSW Steel, Hindalco Industries, Jindal Steel & Power among others falling in trade. The broader sectoral index Nifty Metal is also trading lower today.

• Linde India is trading with more than nine times its weekly average trading volume. Polyplex Corporation, Century Plyboards, Rites, and Happiest Minds Technologies are trading at more than three times their weekly average trading volumes.

• Axis Securities initiates coverage on IndiaMART InterMESH with a ‘Buy’ rating and target price of Rs 6,800, indicating an upside of 52%. The brokerage believes the company is well-positioned to capture the immense growth opportunity driven by its strong and consistent traffic improvement, healthy cash flow generation, robust technology backup supporting its business platform, and good acquisition strategy for inorganic growth.

• Ramkrishna Forgings is rising as it wins domestic order worth Rs 75 crore per annum from an original equipment manufacturer for medium and heavy commercial vehicles.

• Anupam Rasayan India's Chief Financial Officer Afzal Malkani resigns due to personal reasons. The resignation is effective from March 14, 2022

• Paytm continues to fall on the bourses despite reporting a 366% YoY growth in its loan disbursals at Rs 2,095 crore for Febuary, 2022. The gross merchandising value for the company doubled YoY to Rs 1.65 lakh crore for the month in question. The company also denies the reports of data leak to Chinese firms in its latest press release.

• Axis Securities initiates coverage on Cipla with a ‘BUY’ rating and target price of Rs 1,200, indicating an upside of 15.5%. The brokerage has a positive outlook on the company as it has a robust pipeline for the branded and generic markets of India and South Africa. The brokerage expects the company’s revenue to grow at 11.2% CAGR over FY21-FY24.

• Reliance New Energy, a subsidiary of Reliance Industries, acquires all assets of Lithium Werks along with 100% stake in Lithium Werks Technology B.V., for Rs 466.3 crore. The assets include patent portfolio of Lithium Werks, manufacturing facility in China, key business prospects, among others. This acquisition provides Reliance access to the world’s leading portfolio of lithium iron phosphate patents and manufacturing facility.

• Persistent Systems agrees to acquire cloud technology firm MediaAgility for Rs 548 crore in an all-cash deal. The acquisition will enhance the company’s partnership with Google and will be the foundation for a dedicated Google business unit.

Riding High:

Largecap and midcap gainers today include Ruchi Soya Industries Ltd. (1,090.75, 13.18%), Bandhan Bank Ltd. (281.15, 6.11%) and Au Small Finance Bank Ltd. (1,169.50, 4.32%).

Downers:

Largecap and midcap losers today include MindTree Ltd. (3,884.15, -5.84%), NMDC Ltd. (147.55, -5.57%) and Hindalco Industries Ltd. (559.75, -5.26%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Ruchi Soya Industries Ltd. (1,090.75, 13.18%), Linde India Ltd. (3,256.45, 11.38%) and Minda Corporation Ltd. (198.65, 7.70%).

Top high volume losers on BSE were CreditAccess Grameen Ltd. (758.55, -5.69%), Krishna Institute of Medical Sciences Ltd. (1,331.10, -4.29%) and Engineers India Ltd. (61.90, -3.51%).

Century Plyboards (India) Ltd. (657.25, 6.23%) was trading at 10.4 times of weekly average. Rites Ltd. (251.70, 2.30%) and Happiest Minds Technologies Ltd. (1,137.15, 1.61%) were trading with volumes 5.7 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52-week highs, while 3 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Cipla Ltd. (1,068.05, 1.85%), Linde India Ltd. (3,256.45, 11.38%) and JK Paper Ltd. (279.25, 0.72%).

Stocks making new 52 weeks lows included - Wockhardt Ltd. (289.00, -5.62%) and Thyrocare Technologies Ltd. (792.25, -1.57%).

14 stocks climbed above their 200 day SMA including Ruchi Soya Industries Ltd. (1,090.75, 13.18%) and IIFL Wealth Management Ltd. (1,501.45, 3.23%). 24 stocks slipped below their 200 SMA including NMDC Ltd. (147.55, -5.57%) and Tata Steel Ltd. (1,233.75, -4.88%).

Trendlyne Analysis

Nifty 50 closed in the green for the fifth consecutive day. Falling crude oil prices and Bharatiya Janata Party winning four out of five state assembly elections last week lifted up the markets. However, most Asian indices closed lower amid mixed global cues with the Russia-Ukraine war as the focal point. The US Federal Reserve is set to commence the interest rate hikes after its two-day monetary policy meeting, starting tomorrow. This comes after the US inflation print hit a 40-year high of 7.9% last week.

Nifty Midcap 100 and Nifty Smallcap 100, which opened higher than Friday's levels, closed marginally higher underperforming the benchmark index. Nifty Media and Nifty Bank extended their gains from last week by closing in the green. Nifty Metal closed in the red while Nifty IT ended the day sharply higher, tracking the tech-heavy NASDAQ 100 futures, which is trading in the green.

Markets closed up today. Nifty 50 closed at 16,871.30 (240.9, 1.5%), BSE Sensex closed at 56,486.02 (935.7, 1.7%) while the broader Nifty 500 closed at 14,374.60 (137.5, 1.0%)

Market breadth is in the red. Of the 1,897 stocks traded today, 836 showed gains, and 1,024 showed losses.

• Supreme Industries, Godrej Industries, Sanofi India, and Amber Enterprises trading with higher volumes as compared to Friday.

• Media stocks like Zee Entertainment, Sun TV Network, PVR, TV18 Broadcast, and Saregama India are rising. The broader sectoral index i.e., Nifty Media is also trading up today.

• Larsen & Toubro's arm L&T Construction recieves engineering, procurement and construction orders worth Rs 1,000-2,500 crore from Gujarat Water Infrastructure for the Dhanki-Navda Bulk Pipeline project.

• Lupin receives US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA), Vigabatrin for oral solution (500 mg). Vigabatrin is an anti-epilepsy drug with an estimated annual sales of $ 275 million (around Rs 2,100) in the US.

• Ruchi Soya rallies as it files a red herring prospectus (RHP) for its follow-on public offer (FPO) for Rs 4,300 crore upon receiving approval from its board of directors. The company will offer equity shares with a face value of Rs 2 each amounting to Rs 4,300 crore under the FPO. The issue will open on March 24 and will be available for bidding till March 28, 2022.

• Ingersoll-Rand (India) is trading with more than seventeen times its weekly average trading volume. Jubilant Foodworks, WABCO India, Godfrey Phillips India, and Sharda Cropchem are trading at more than three times their weekly average trading volumes.

• HDFC Bank rises after RBI revokes the restrictions on business generating activities planned under the Bank’s Digital 2.0 program w.e.f. March 11, 2022. The apex bank had earlier eased the restictions on new credit card issuances by HDFC Bank in August, 2021.

• Zydus Lifesciences receives US Food and Drug Administration (FDA) approval for its Colestipol Hydrochloride tablets in the strength of 1mg. Colestipol Hydrochloride is used to lower high cholesterol levels in the blood to help prevent medical problems caused by cholesterol clogging the blood vessels.

• Jubilant Foodworks' Chief Executive Officer and full-time Director Pratik Rashmikant Pota resigns to pursue opportunities outside the company. The resignation will be effective from June 15, 2022.

• GAIL announces the second interim dividend of Rs 5 per share for FY22. The total dividend payout amounts to nearly Rs 2,220 crore. The record date is March 22, 2022

• Tech Mahindra acquires a 100% stake worth Rs 320 crore in the enterprise-application company Thirdware, in an all-cash deal. The IT company expects the acquisition to bolster its digital solutions and services in automotive consulting, design, and development.

• Sobha's Managing Director Jagdish Chandra Sharma resigns citing personal reasons. The resignation will be effective from April 1, 2022.

• Reserve Bank of India (RBI), on Friday, directs Paytm Payments Bank, an associate of One97 Communications, to stop onboarding new customers with immediate effect. RBI has also directed the company to appoint an IT audit firm to conduct a system audit of its IT system as it observes supervisory concerns with the bank operations.

Riding High:

Largecap and midcap gainers today include Ruchi Soya Industries Ltd. (963.75, 20.00%), Deepak Nitrite Ltd. (2,207.65, 7.66%) and Zee Entertainment Enterprises Ltd. (259.20, 6.91%).

Downers:

Largecap and midcap losers today include Jubilant Foodworks Ltd. (2,514.00, -12.24%), Au Small Finance Bank Ltd. (1,121.10, -6.03%) and Hindustan Petroleum Corporation Ltd. (279.20, -5.13%).

Movers and Shakers

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

Top high volume gainers on BSE included Ruchi Soya Industries Ltd. (963.75, 20.00%), CreditAccess Grameen Ltd. (804.30, 14.58%) and Hatsun Agro Products Ltd. (1,205.90, 10.66%).

Top high volume losers on BSE were Jubilant Foodworks Ltd. (2,514.00, -12.24%), Mahindra CIE Automotive Ltd. (174.95, -2.34%) and WABCO India Ltd. (7,174.85, -0.23%).

Brightcom Group Ltd. (102.10, 4.99%) was trading at 6.9 times of weekly average. Godfrey Phillips India Ltd. (1,040.35, 1.50%) and Johnson Controls-Hitachi Air Conditioning India Ltd. (1,856.70, 3.25%) were trading with volumes 5.7 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks made 52-week highs, while 4 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Cipla Ltd. (1,048.65, 0.45%), GHCL Ltd. (525.50, 6.39%) and Sun Pharmaceutical Industries Ltd. (892.25, -1.08%).

Stocks making new 52 weeks lows included - 3M India Ltd. (19,704.95, -0.97%) and Jubilant Foodworks Ltd. (2,514.00, -12.24%).

21 stocks climbed above their 200 day SMA including Hatsun Agro Products Ltd. (1,205.90, 10.66%) and Deepak Nitrite Ltd. (2,207.65, 7.66%). 14 stocks slipped below their 200 SMA including Au Small Finance Bank Ltd. (1,121.10, -6.03%) and Sobha Ltd. (701.90, -5.98%).