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Trendlyne Marketwatch
20 Jan 2022
Market closes lower, AGS Transact Technologies' IPO gets subscribed 1.27X on Day 2

Trendlyne Analysis

Indian markets slumped today. Nifty 50 closed at 17,757.00 (-181.4, -1.0%) , BSE Sensex closed at 59,464.62 (-634.2, -1.1%) while the broader Nifty 500 closed at 15,361.10 (-111.4, -0.7%)

Market breadth is neutral. Of the 1,850 stocks traded today, 899 were gainers and 915 were losers.

  • Carborundum Universal, Sundaram Finance, Crisil, and Kansai Nerolac Paints are trading with higher volumes as compared to Wednesday.

  • Mahindra & Mahindra ties up with Naveen Munjal's Hero Electric through which the latter will manufacture its Optima and NYX at M&M's facilities. This partnership will also entail joint product development and knowledge sharing and electrification of Peugeot motorcycles.

  • ICICI Securities maintains ‘Buy’ on Larsen & Toubro Infotech with a target price upside of 19.5%. The company’s Q3FY22 revenues rise 9.2% QoQ with manufacturing (17% QoQ) and banking and financial segments (32.8% QoQ) rising the most. EBIT margins improve by 70 bps QoQ to 17.9% and net sales by 8.6% to $553 million.

  • AGS Transact Technologies’ Rs 680-crore IPO gets bids for 1.42X of the available 2.86 crore shares on offer on the second day of bidding. Retail investors quota of 1.43 crore shares is oversubscribed by 2X. The IPO is entirely an offer for sale by selling shareholders

  • La Opala RG  is trading with more than nine times its weekly average trading volume. Just Dial and CEAT are trading at more than five times their weekly average trading volumes

  • Mastek's Q3FY22 net profit rises marginally by 2.4% QoQ to Rs 83.5 crore and revenues by 3.4% to Rs 551.9 crore. Health and life sciences as well as data automation and Cloud services segments lead revenue growth in Q3. The company also announces an interim dividend of Rs 7 per share

  • CEAT posts a loss of Rs 20 crore in Q3FY22 as against a profit of Rs 132 crore in Q3FY21 led by a sharp spike in raw material costs. Revenue's rise 8% YoY to Rs 2,413 crore but fall sequentially owing to subdued demand both in the replacement and original equipment manufacturing segment.

  • PTC India Financial Services falls as three independent directors-Kamlesh Shivji Vikamsey, Thomas Mathew T, and Santosh B Nayar--resign citing corporate governance issues at the company. Their resignation is effective immediately.

  • JSW Energy's Q3FY22 net profit jumps 162% YoY to Rs 324 crore and revenues rise 17.7% YoY to Rs 1,984 crore. Increase in sales realisations as well as rise in hydro and short-term power generation aid the revenue and earnings growth in Q3.

  • Rakesh Jhunjhunwala sells 0.67% stake in Steel Authority of India (SAIL) in Q3FY22 bringing his holding down to 1.09% in the company.

  • Bajaj Auto’s Q3FY22 net profit declines 17% YoY to Rs 1,430 crore as total volumes across all categories fell 10% YoY to 11.8 lakh units. The company’s revenues grew marginally by 1.3% YoY to Rs 9,021 crore aided by price hikes for its two-wheeler models. Operating profit fell 20% YoY to Rs 1,405 crore on rising material costs which led to a 420 bps fall in EBITDA margins fell to 15.6%.

Riding High:

Largecap and midcap gainers today include Tata Elxsi Ltd. (7,430.45, 6.50%), Cholamandalam Investment & Finance Company Ltd. (649.15, 6.05%) and Power Grid Corporation of India Ltd. (214.65, 4.89%).

Downers:

Largecap and midcap losers today include Oracle Financial Services Software Ltd. (3,698.65, -7.44%), Tata Communications Ltd. (1,449.80, -4.84%) and Bajaj Finserv Ltd. (17,258.95, -4.53%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Just Dial Ltd. (924.40, 13.41%), La Opala RG Ltd. (414.55, 7.65%) and Cholamandalam Investment & Finance Company Ltd. (649.15, 6.05%).

Top high volume losers on BSE were Hikal Ltd. (387.25, -12.85%), Mastek Ltd. (2,854.40, -11.32%) and PTC India Ltd. (100.50, -10.94%).

Ceat Ltd. (1,134.50, -0.06%) was trading at 7.5 times of weekly average. Oracle Financial Services Software Ltd. (3,698.65, -7.44%) and Syngene International Ltd. (608.00, 2.38%) were trading with volumes 7.0 and 6.0 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 7 stocks tanked below their 52-week lows.

Stocks touching their year highs included - IDFC Ltd. (63.85, -1.39%), Lakshmi Machine Works Ltd. (10,720.05, -2.11%) and Procter & Gamble Hygiene & Healthcare Ltd. (15,988.95, -0.04%).

Stocks making new 52 weeks lows included - Ceat Ltd. (1,134.50, -0.06%) and Gillette India Ltd. (5,206.55, -0.39%).

16 stocks climbed above their 200 day SMA including Just Dial Ltd. (924.40, 13.41%) and MMTC Ltd. (50.40, 5.00%). 15 stocks slipped below their 200 SMA including PTC India Ltd. (100.50, -10.94%) and Rallis India Ltd. (277.30, -6.08%).

 
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Trendlyne Marketwatch
19 Jan 2022
Market closes lower, ICICI Securities' Q3 profit jumps 43% YoY

Trendlyne Analysis

Market sinks in today's trading.Nifty 50 closed at 17,938.40 (-174.7, -1.0%) , BSE Sensex closed at 60,098.82 (-656.0, -1.1%) while the broader Nifty 500closed at 15,472.50 (-100.6, -0.7%)

Market breadth is in the red. Of the 1,851 stocks traded today, 799 were gainers and 1,029 were losers

  • IIFL Wealth Management, Sanofi India, Cholamandalam Financial Holdings, and Pfizer are trading with higher volumes as compared to Tuesday.

  • ICICI Securities' Q3FY22 net profit jumps 43% YoY to Rs 383 crore and revenues rise 52% YoY to Rs 942 crore. Robust sales growth in mutual fund distribution, private wealth management and IPO issuer services segments aids the overall earnings growth in Q3.

  • ICICI Securities upgrades rating for ICICI Prudential Life Insurance to ‘Buy’ from ‘Add’ with a target price upside of 18.4%. The company's Q3FY22 net profit is up by 1.6% YoY to Rs 311 crore and value of new business premiums increase by 20% YoY to Rs 515 crore. This led to the upgrade from the brokerage which expects the company's annual premium equivalent to rise 23% in FY23 as the company optimises its product mix away from ULIPs.

  • AGS Transact Technologies’ Rs 680-crore IPO gets bids for 88% of the available 2.86 crore shares on offer on the first day of bidding. Retail investors quota of 1.43 crore shares is oversubscribed by 1.32X. The IPO is entirely an offer for sale by selling shareholders

  • Indraprastha Gas is falling for three consecutive sessions, and touched a 52-week low during trade. The stock is falling after the Devli governments new aggregators policy imposes minimum electric vehicle requirements in fleets of cab aggregators and delivery services. This poses a threat to growth in CNG vehicles in Delhi.

  • Tata Elxsi's Q3FY22 net profit jumps 43.5% YoY to Rs 151 crore and revenues rise 33% YoY to Rs 635.4 crore. Robust sequential growth of 10% in Embedded Product Design segment in turn led by transportation and healthcare sub-divisions drive overall revenue growth for the company.

  • DCM Shriram is trading with more than 13 times its weekly average trading volume. Tata Elxsi, Elgi Equipments, L&T Technology Services, and Bajaj Finance India are trading at more than four times their weekly average trading volumes.

  • L&T Technology Services' Q3FY22 net profit jumps 34% YoY to Rs 249 crore and revenues rise 20% YoY to Rs 1,688 crore. Robust sequential growth in telecom & hi-tech and transportation segments lead to a gross margin expansion of 300 bps and over 30% earnings growth in Q3. The company also announces an interim dividend of Rs 10 per share.

  • Rakesh Jhunjhunwala sells 0.81% stake in Jubilant Ingrevia in Q3FY22 bringing his holding down to 4.72% in the company. He ups his stake in Tata Motors by 0.07% increasing his holding to 1.18% at the end of Q3 FY22.

  • Reliance Industries’ telecom arm Reliance Jio pays Rs 30,791 crore to the Department of Telecom to clear its spectrum liabilities for airwaves bought in auctions held before 2021. The company will save Rs 1,200 crore per year on the interest component owing to this prepayment.

  • Bajaj Finance’s Q3FY22 net profit rises 85.5% YoY to Rs 2,125 crore as net interest income is up 40% YoY to Rs 6,000 crore. The assets under management is up 26% YoY to Rs 1.81 lakh crore. There is no negative impact of RBI’s new NPA classification norms as the company’s gross NPAs fell 72 bps QoQ to 1.73% during the quarter.

  • AGS Transact Technologies raises Rs 204 crore by selling 1.16 crore shares at Rs 175 per share to 17 anchor investors ahead of its IPO. The investors include BNP Paribas Arbitrage – ODI, Ashoka India Equity Investment Trust, Kuber India Fund, Saint Capital Fund, Tara Emerging Asia Liquid Fund, Cohesion MK Best Ideas, and Authum Investment and Infrastructure, among others.

Riding High:

Largecap and midcap gainers today include Tata Elxsi Ltd. (6,977.25, 9.42%), Biocon Ltd. (367.35, 5.35%) and Tata Power Company Ltd. (248.50, 3.93%).

Downers:

Largecap and midcap losers today include L&T Technology Services Ltd. (5,077.55, -6.33%), Info Edge (India) Ltd. (5,016.70, -6.15%) and ICICI Prudential Life Insurance Company Ltd. (573.80, -5.62%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Dilip Buildcon Ltd. (386.85, 11.58%), Tata Elxsi Ltd. (6,977.25, 9.42%) and DCM Shriram Ltd. (1,094.75, 8.14%).

Top high volume losers on BSE were Sterlite Technologies Ltd. (249.15, -7.47%), L&T Technology Services Ltd. (5,077.55, -6.33%) and Info Edge (India) Ltd. (5,016.70, -6.15%).

Elgi Equipments Ltd. (373.85, 6.49%) was trading at 6.8 times of weekly average. Bajaj Finance Ltd. (7,571.80, -2.22%) and Zensar Technologies Ltd. (474.00, -0.25%) were trading with volumes 5.6 and 5.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52-week highs, while 6 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (482.85, 3.68%), Lakshmi Machine Works Ltd. (10,950.90, 5.45%) and Sobha Ltd. (1,022.25, 6.22%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (438.60, -3.25%) and Zydus Wellness Ltd. (1,789.35, -1.78%).

13 stocks climbed above their 200 day SMA including GAIL (India) Ltd. (147.95, 3.53%) and Rallis India Ltd. (295.25, 2.93%). 29 stocks slipped below their 200 SMA including Info Edge (India) Ltd. (5,016.70, -6.15%) and ICICI Prudential Life Insurance Company Ltd. (573.80, -5.62%).

 
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The Baseline
19 Jan 2022
Health insurance premiums cushion general insurance companies’ growth

The slump in car and bike sales is leading to a fall in automotive insurance premiums collected by listed insurance players, an analysis of monthly data from regulator IRDA shows. But health insurance premiums rose YoY in October and November 2021, helping insurance companies cushion the blow.

Although the December 2021 segment data for general insurers is not out yet, October and November 2021 numbers point to an impact of falling auto sales on Bajaj Finserv’s subsidiary Bajaj Allianz General Insurance, ICICI Lombard General Insurance, and The New India Assurance Company. Pure play health insurance player Star Health and Allied Insurance’s 20% YoY premium growth in October-December 2021 shows that the health insurance business continues to grow for the industry as a whole. Bajaj Allianz, ICICI Lombard, and The New India Assurance’s written health insurance premiums rose 26%, 37%, and 19% YoY, respectively in November 2021.

New India Assurance’s total motor insurance written premiums fell on a YoY basis in October 2021 and November 2021. Similarly, Bajaj Allianz’s motor insurance premiums also fell in those two months. Although ICICI Lombard’s total motor insurance premiums rose marginally in the two months, the own damage insurance premium fell, while third-party insurance premium (legally required for motorists) rose for both months.

But health insurance written premiums for Bajaj Allianz, ICICI Lombard and New India Assurance rose on a YoY basis in October and December, while Star Health’s rose in all three months of Q3FY22. Essentially, the health insurance premium might save the quarter.

 
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Trendlyne Marketwatch
18 Jan 2022
Market closes lower, Maruti Suzuki falls as CLSA give 'Sell' rating

Trendlyne Analysis

Markets fell in today's trading. Nifty 50 closed at 18,113.05 (-195.1, -1.1%) , BSE Sensex closed at 60,754.86 (-554.1, -0.9%) while the broaderNifty 500closed at 15,573.10 (-208.2, -1.3%)

Market breadth is highly negative. Of the 1860 stocks traded today, 403 were in the positive territory and 1437 were negative.

  • Bayer Cropscience, IFB Industries, Procter & Gamble Hygiene & Healthcare, and Gland Pharma are trading with higher volumes as compared to Monday.

  • Maruti Suzuki falls as CLSA maintains 'Sell' rating on the stock with target of Rs 6,420. The brokerage sees the new safety norms of mandatory six airbags in cars to impact the company the most, with a likely rise in cost of its vehicles by Rs 16,000.

  • Nazara Technologies is set to acquire 55% stake in programmatic advertising and monetization company Datawrkz for a consideration of nearly Rs 124 crore to strengthen its Ad tech portfolio.

  • ICICI Securities maintains a 'BUY' rating on UltraTech Cement with a target price upside of 15%. Although UltraTech witnessed a 19% YoY fall in its EBITDA/tonne, the brokerage expects fuel cost pressures to ease from Q1FY23 and sales volumes to recover in Q4FY22.

  • Dixon Technologies enters into an equal joint venture with Imagine Marketing for its brand “ boAt ” to design and manufacture wireless audio solutions in India. The partners are also collaborating in advancing the Indian mobile accessory market as part of the ‘Make in India’ initiative. Dixon, with a 50% stake in the proposed JV, will facilitate in manufacturing of the product along with product design and quality assurance.

  • Kalpataru Power Transmissions is trading with more than 11 times its weekly average trading volume. Mangalore Refinery And Petrochemicals, Sonata Software, Infibeam Avenues, and Hemisphere Properties India are trading at more than five times their weekly average trading volumes.

  • Prestige Estates rises after its sales bookings jump 2X to Rs 4,267.6 crore and collection rises 70% to Rs 2,431.6 crore for Q3 FY22. Its total sale stood at Rs 7,113.4 crore for the nine months ended December 31, 2021.

  • Tatva Chintan Pharma Chem's Q3FY22 profit rises 9.2% YoY to Rs 22.8 crore led by an over 30% YoY growth in its sales to Rs 104.6 crore. A diversified product mix consisting of structure directing agents, agrochemical intermediaries and specialty chemicals help revenues grow in Q3.

  • Schaeffler India's board of directors set the record date for the stock split of 5:1 as February 9, 2022. In October 2021, the auto part company's board of directors had approved this stock split

  • Tech Mahindra acquires 100% stake in Com Tec Co IT for 310 million euros and a minority stake of 25% each in SWFT Technologies and Surance for 16.5 million euros and 3.5 million euros, respectively

  • HFCL’s Q3FY22 net profit falls 4.7% YoY to Rs 81.1 crore and revenues decline 4.86% YoY to Rs 1,215.2 crore. The company’s profits took a hit because of increase in logistics costs and rise in input prices of fibre and semi-conductors.

Riding High:

Largecap and midcap gainers today include Adani Green Energy Ltd. (1,900.10, 3.53%), ABB India Ltd. (2,368.55, 2.08%) and Cholamandalam Investment & Finance Company Ltd. (612.45, 1.96%).

Downers:

Largecap and midcap losers today include Ambuja Cements Ltd. (380.65, -6.66%), Apollo Hospitals Enterprise Ltd. (4,615.80, -6.03%) and Adani Power Ltd. (109.75, -5.43%).

Movers and Shakers

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

Top high volume gainers on BSE included Infibeam Avenues Ltd. (44.30, 8.45%), Kalpataru Power Transmissions Ltd. (410.05, 5.41%) and Lux Industries Ltd. (3,850.25, 4.32%).

Top high volume losers on BSE were Dilip Buildcon Ltd. (346.70, -8.04%), Ambuja Cements Ltd. (380.65, -6.66%) and Apollo Hospitals Enterprise Ltd. (4,615.80, -6.03%).

Mangalore Refinery And Petrochemicals Ltd. (45.90, 1.44%) was trading at 8.9 times of weekly average. Sonata Software Ltd. (859.80, -1.42%) and Cholamandalam Financial Holdings Ltd. (650.50, 0.81%) were trading with volumes 8.5 and 5.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

26 stocks took off, crossing52-week highs, while 3 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (2,026.75, 1.20%), Chambal Fertilisers & Chemicals Ltd. (465.70, -1.05%) and Grasim Industries Ltd. (1,852.25, -3.46%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (453.35, -0.32%) and Dilip Buildcon Ltd. (346.70, -8.04%).

12 stocks climbed above their 200 day SMA including Infibeam Avenues Ltd. (44.30, 8.45%) and Kalpataru Power Transmissions Ltd. (410.05, 5.41%). 23 stocks slipped below their 200 SMA including Firstsource Solutions Ltd. (167.15, -6.20%) and Info Edge (India) Ltd. (5,345.45, -5.43%).

 
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Trendlyne Marketwatch
17 Jan 2022
Market closes higher, UltraTech Cement's Q3 net profit rises ~8% YoY to Rs 1,708 crore

Trendlyne Analysis

Nifty 50 closed at 18,308.10 (52.4, 0.3%),BSE Sensex closed at 61,308.91 (85.9, 0.1%) while the broader Nifty 500 closed at 15,781.25 (50.9, 0.3%)

Market breadth is in the green. Of the 1,903 stocks traded today, 1,139 were on the uptick, and 722 were down.

  • Amber Enterprises India, V Mart Retail, CG Power and Industrial Solutions, and HDFC Asset Management Company are trading with higher volumes as compared to Friday.

  • UltraTech Cement's Q3FY22 net profit rises nearly 8% YoY to Rs 1,708 crore and revenues by 5% to Rs 12,710 crore. A fall in sales volume and fuel cost rise led to a 26% fall in its EBITDA to Rs 2,490 crore. The rise in profit was mainly due to a deferred tax adjustment made by the company during the quarter

  • Metro Brands is rising as its Q3FY22 net profit is up by 53.2% YoY to Rs 102 crore and revenues by 59% to Rs 484 crore. EBITDA margins are up by 220 bps YoY to 34.9% because of improvement in the overall sales mix. The company opened 39 new stores in Q3FY22 and e-commerce sales surge 69% YoY helping revenues grow during the quarter.

  • Hinduja Global Solutions falls after the company announces a share buyback of around Rs 1,000 crore. The buyback and dividend constitute 16.3% of the proceeds received by the company for sale of its flagship healthcare services business.

  • Gujarat Ambuja Exports to invest Rs 400-500 crore in a greenfield corn wet milling plant to manufacture starch, starch derivatives and polyols namely sorbitol, maltitol and mannitol at Sitarganj, Uttaranchal.

  • Tinplate Company of India's Q3FY22 profit jumps 189.3% YoY to Rs 95 crore led by an over 90% YoY growth in its sales to Rs 1,190 crore.

  • IFB Industries is trading with more than 19 times its weekly average trading volume. Rajesh Exports, Gujarat Ambuja Exports, Hero MotoCorp, and Jindal Saw are trading at more than four times their weekly average trading volumes.

  • Jubilant Foodworks' board of directors will take up a proposal for a stock split in its next meeting to be held on February 2, 2022.The board will also approve the company's Q3FY22 results in the same meeting

  • HDFC Bank’s Q3FY22 net profit jumps 18% YoY to Rs 10,342 crore as lower credit costs, increasing loan advances, and lower provisioning aids PAT growth. Credit cost ratio declines to 0.94% YoY and provisioning falls 12.3% YoY to Rs 2,994 crore. Loan advances grow 16.5% YoY to Rs 12.6 lakh crore. Net interest income rises 13% YoY to Rs 18,443.5 crore, while gross NPAs rises 45 bps YoY to 1.26%, (down 9 bps QoQ)

  • Sequent Scientific's Managing Director and Chief Executive Officer Manish Gupta resigns to pursue other opportunities. The resignation is effective from April 10, 2022

  • HCL Technologies' Q3FY22 net profit rises 5.4% QoQ to Rs 3,442 crore and revenues by 8.1% to Rs 22,331 crore. Products & platforms business segment particularly drives revenue growth in Q3. The company also announces an interim dividend of Rs 10 per share.

  • Hero MotoCorp's board approves a Rs 420 crore in electric two-wheeeler maker Ather Energy. Ather will help the company build charging infrastructure, technology and sourcing. Ather will use these funds to increase production at its Hosur plant by setting up a second unit. With this investment, Hero MotoCorp's stake in Ather will rise from 34.8% post completion of the investment.

Riding High:

Largecap and midcap gainers today include Adani Green Energy Ltd. (1,835.30, 8.09%), Hero MotoCorp Ltd. (2,701.50, 5.13%) and ICICI Prudential Life Insurance Company Ltd. (615.65, 4.15%).

Downers:

Largecap and midcap losers today include HCL Technologies Ltd. (1,258.75, -5.87%), Dr. Lal Pathlabs Ltd. (3,502.60, -3.70%) and Vedanta Ltd. (325.80, -3.09%).

Movers and Shakers

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

Top high volume gainers on BSE included Rajesh Exports Ltd. (950.95, 11.83%), MMTC Ltd. (49.00, 9.38%) and Jindal Saw Ltd. (112.40, 8.02%).

Top high volume losers on BSE were Granules India Ltd. (331.10, -7.41%), Hikal Ltd. (460.60, -6.49%) and Procter & Gamble Hygiene & Healthcare Ltd. (15,897.10, -0.74%).

IFB Industries Ltd. (1,200.75, 2.16%) was trading at 20.7 times of weekly average. Gulf Oil Lubricants India Ltd. (485.55, 5.78%) and JK Paper Ltd. (227.30, 7.04%) were trading with volumes 10.9 and 7.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

37 stocks overperformed with 52-week highs, while 2 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Astral Ltd. (2,465.10, -0.11%), Chambal Fertilisers & Chemicals Ltd. (470.65, 0.37%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (564.95, 4.19%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (454.80, -1.44%) and Dilip Buildcon Ltd. (377.00, -3.25%).

15 stocks climbed above their 200 day SMA including MMTC Ltd. (49.00, 9.38%) and Jindal Saw Ltd. (112.40, 8.02%). 9 stocks slipped below their 200 SMA including Granules India Ltd. (331.10, -7.41%) and Hikal Ltd. (460.60, -6.49%).

 
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The Baseline
17 Jan 2022
Five analyst stock picks this week
  1. Steel Authority of India (SAIL): Axis Securities initiates coverage on SAIL with a ‘Buy’ recommendation and a target price of Rs 150, implying an upside of 38.95%. SAIL’s modernisation and expansion plan is near completion and the company’s total saleable steel capacity will increase to 20.2 million tonnes per annum post-expansion, according to analyst Aditya Welekar. “We expect steel margins to come under pressure in H2FY22 as lower steel prices will coincide with higher coal price,” Welekar writes. But margins may recover post that as coal prices ease out and steel prices find support with lower demand in China getting balanced by lower production in CY22. Driven by higher profits, Axis Securities expects SAIL to maintain its dividend payout ratio of 28% from FY22 to FY24, which translates into a high dividend yield of 6-8% at current market price. Axis Securities values the company at 4.0x FY24 EBITDA.
  1. Infosys: HDFC Securities maintains a ‘Buy’ rating on Infosys but increased its target price to Rs 2,220 from Rs 1,995 with an upside of 14.10%. Infosys reported robust revenue growth of 7% QoQ and 21.5% YoY in Q3FY22.  Amit Chandra writes, “Its (TCS’) growth trajectory will remain robust supported by a strong deal pipeline and wins, broad-based momentum across verticals, and operational pivots of offshoring and utilization.” These factors will mitigate the near-term impact of higher subcontracting. Chandra remains positive on Infosys and expects 17% EPS CAGR over FY21 to FY24. Chandra is factoring in a YoY dollar revenue growth of 20.1% in FY22, 15.4% in FY23, and 10.5% in FY24. For Q4FY22, the analyst expects 4.1% QoQ growth in dollar revenues.
  1. Tata Consultancy Services (TCS): Motilal Oswal’s analysts Mukul Garg and Raj Bhanushali have a ‘Buy’ rating on TCS with a target price of Rs 4,250, implying an upside of 6.65%. TCS topline grew 16.3% YoY to Rs 48,885 crore in Q3FY22 in a seasonally weaker quarter. The analysts expect this performance to alleviate concerns about its growth potential and the likely drag from the growing share of smaller deals in the market. They also feel IT Services has entered into a technology upcycle, with cloud migration and digital transformation-led deals coming into the market. “Given TCS’ size, capabilities, and portfolio stretch, it is rightly positioned to leverage the anticipated industry growth,” Garg and Bhanushali write. The duo stay positive on TCS factoring in revenue growth of 15% YoY in  FY23.
  1. Gujarat Gas: Prabhudas Lilladhar’s analyst Avishek Datta has a ‘Buy’ rating on Gujarat Gas with a target price of Rs 764,  indicating an upside of nearly 9.42%. “We expect Gujarat Gas’s margins to bottom in Q3 at Rs 2.5 per standard cubic metre and improve in Q4, due to pricing intervention,” Datta writes. Domestic ceramic demand in the residential segment picked up post-pandemic led by home improvements and work-from-home trends. Indian ceramic capacity expanded to 1,320 million square metres in CY20, up 8%YoY, and will likely expand more. Further, a gas price increase of 10-15% is also expected shortly, due to continued high spot prices and any improvement in the geopolitical environment in Ukraine will improve Gujarat Gas profitability. Datta expects a 15.8% CAGR volume growth over FY 23-24.
  1. CRISIL: Monarch Networth Capital gives CRISIL a ‘Buy’ rating with a target price of Rs 3,700,  indicating an upside of 24.92%. “Buoyancy in the capital market will aid strong traction in the domestic research revenues for CRISIL,” Monarch Networth says.  “This, in addition to a seasonally strong quarter for the global benchmarking business, will aid superior earnings growth in the research division.” The brokerage sees traction across segments for the company. CRISIL’s strong parentage, superior margin profile, healthy return ratios - Return on Equity (ROE) at 30% and dividend payout ratio provides comfort. Monarch Networth factors in 15% CAGR growth in CRISIL’s research revenue and a CAGR of 8.5% in its revenue estimate. Monarch Networth also estimates 13% CAGR growth in revenue and 15% growth in earnings over CY 20-23 while expecting ROE to be at 30-31%.
 
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The Baseline
17 Jan 2022
Analysts predict winners and losers of Q3, cement sector sees slowing government spends

The Q3 earnings season is in full swing, and obviously that is all everyone can talk about (or at least that’s what we want to talk about!) This week’s newsletter looks at analyst consensus estimates to see what could happen in Q3 results. Our Trendlyne Forecaster is here to help.

In this week’s Analyticks:

  • The cement sector’s foggy winter
  • Upcoming Q3 gainers and losers according to Forecaster’s consensus estimates
  • Screener: Stocks gaining ahead of earnings

Let’s get into it.

Cement sector’s near-term outlook softens as government spending slows

Although top cement companies gave a positive growth outlook for H2FY22, analyst estimates for Q3 earnings results suggest a different story altogether. Interestingly, the average stock returns from the top seven listed cement companies are a meagre 0.1% for the last three months. Brokerages are positive on the cement sector from a medium-term perspective, but investor  interest seems to be waning.

After posting dismal results in Q2FY22, cement companies like Dalmia Bharat and JK Cement anticipated higher demand in the next two quarters. This expectation was on the back of higher infrastructure spending by the central government. However, the actual capital expenditure numbers published by the Controller General of Accounts are quite lacklustre. 

The Centre’s capex fell 24% YoY to Rs 23,919 crore in October 2021 and 54% YoY to Rs 20,360 crore in November 2021. If we talk about the year-to-date numbers (April-November 2021), the government managed to spend only 49% of its budgeted capex estimate of Rs 5.54 lakh crore. Accordingly, top brokerages such as ICICI Securities and Axis Securities expect sales volumes of top cement players to fall by an average of 2.4% in Q3FY22. 

Notably, analysts are not anticipating a major fall in Q3 sales volumes. According to their respective channel checks, volumes did recover in December 2021 as the monsoon season finally receded from India. 

Another factor is that the price hikes by cement players on cement bags in October 2021 got completely reversed in the following months. According to channel checks by ICICI Securities, the eastern and southern regions of India witnessed the highest price corrections in Q3 due to a fall in demand on delayed withdrawal of the south-west monsoon and a transporters strike. However, the saving grace here is that the pan-India prices are still up by close to 5% YoY at the end of Q3FY22. 

With a marginal fall in quarterly sales volumes and a sub-par rise in realisations, revenues of cement players are likely to stay flat in Q3FY22 on a YoY basis. 

The flat trend in quarterly revenues does not bode well for cement players especially when input costs are likely to see a spike on an YoY basis. Analysts expect the cost/tonne metric to rise 14% YoY for the top 13 cement companies led by a jump in fuel prices. As a result, EBITDA/tonne for companies is set to fall nearly 15% YoY on an average. Ramco Cements’ EBITDA/tonne is likely to fall  30% YoY to Rs 1,067 as the company derives roughly 75% of its sales from the southern region. 

Prabhudas Lilladher sees a 520 bps fall in EBITDA margins of market leader UltraTech Cement. A possible reason could be a large exposure (36% share in sales) to the eastern and southern regions. Although Dalmia Bharat derives 60% of its topline from the eastern region, brokerages have a divergent view on its likely operating performance. Axis Securities expects a 130 bps erosion in its EBITDA margins while HDFC Securities sees a 440 bps fall in its margins. 

As a consequence of flat revenues and lower margins led by high input costs, net profit of the top players is set to decline in double digits for Q3FY22. Interestingly, ACC is set to report a 17% YoY rise in its Q3 net profits based on the bullish view of HDFC Securities.

While investors are in for yet another disappointing quarter, power and fuel costs for cement players are likely to normalize in Q4FY22. International coal and pet coke prices fell from their all-time highs in November first week. This provides some breather to companies. According to IIFL Securities, cement dealers are hopeful of a demand revival in January 2022 as the peak construction season kicks in. However, the rapid spread of omicron may put brakes on the Centre’s capex plans and may snap the chances of a meaningful recovery in cement demand. All in all, the outlook for the cement sector in H2FY22 looks quite blurry this winter.

Forecaster Consensus: Slowing sales may dent Maruti’s Q3FY22 profit, Dr Reddy’s may shine

The big boys—Tata Consultancy Services,Infosys, and Wipro—were the first ones among the Nifty 50 to announce their Q3FY22 earnings on Wednesday. Wipro’s earnings per share for Q3FY22 was largely flat at Rs 5.43 per share, but missed Trendlyne’s Forecaster’s average consensus estimate (Rs 5.40 per share). Wage hikes and high attrition dented the company’s margins which came in at 17.6%.

Although TCS’ Q3FY22 EPS of Rs 26.4 per share was marginally below the average consensus estimate (Rs 26.9 per share), the company’s stellar growth in revenues helped IT bellwether cross $25 billion in revenues in 2021.

The standout performer till now is Infosys which posted stellar earnings with an EPS of Rs 13.9 per share, which is above the consensus estimate of Rs 13.4 per share. The company’s Q3 performance led the management to upgrade its revenue guidance to 19.5%-20% in FY22, up from 16.5%-17.5%.

Now that the earnings season is in full flow, we decided to look at Trendlyne Forecaster’s average of consensus estimates to find out the top five companies that analysts expect to post good and bad earnings in Q3FY22.

Dr Reddy’s Q3FY22 profits may get a base effect boost

In Q3FY21, Dr Reddy’s Laboratories suffered an impairment loss on inventory and other intangible assets to the tune of nearly Rs 600 crore led to a fall in its net profit. This resulted in its standalone EPS coming in at around Rs 1.70 per share. This low base, in case there is no recurring impairment charge, may see the company post a rise in its earnings in Q3FY22.

The average consensus estimate expects Bajaj Finance to post stellar earnings in Q3FY22. According to Trendlyne Forecaster’s estimate, the company’s EPS may more than double during the quarter. This may happen on the back of a 26.3% rise in the company’s assets under management to Rs 1,81,300 crore in Q3.

Maruti’s slowing wholesale dispatches and retail sales expected to bite in Q3FY22

The auto industry is reeling under supply-chain issues, and high fuel costs aren’t helping the sector’s cause either. Market leader in the Indian passenger vehicle market—Maruti Suzuki had to resort to multiple production cuts as it curbed dispatches to dealers during Q3FY22. The company’s wholesale dispatches to dealers and exports fell 13.2% YoY to 4,30,668 units during the quarter. This is despite the company’s retail sales picking up in Q3 from October onwards after falling for three consecutive months. This is bound to dent the company’s EPS in Q3.

Similarly, Hero MotoCorp and Bajaj Auto may also see a dent in their Q3 earnings. It’s not surprising that the top five companies that may see the highest fall in EPS (according to Trendlyne Forecaster’s estimates) are from the automotive industry. The one-two punch of poor rural demand and supply chain issues is bearing heavily on the sector’s prospects.

Screener: Stocks swinging ahead of their Q3FY22 results

With another earnings season underway, investors will be hoping the hype priced into stocks pays off. The third wave has not yet played spoilsport, with the benchmark Nifty 50 hovering above 18,000 levels. The earnings announcements will be the next trigger for many companies, but some stocks are trading higher ahead of results being announced.

This screener shows there are 53 companies among the Nifty 500 as of Wednesday that saw a weekly rise in their share price ahead of their results being announced. Some companies like Asian Paints and Tanla Platforms touched their 52-week high ahead of their Q3FY22 results. This suggests that investors hoping for a bite of the cherry before the stock potentially surges post results. This screener also shows the 1-year high price along with its current market price.

Financial services companies like ICICI Bank, HDFC Bank, Bajaj Finance, Cholamandalam Investment & Finance Company, Housing Development Finance Corporation, and Axis Bank are gaining momentum. HDFC Bank and Bajaj Finance recently announced their operational update for Q3FY22 which showed decent growth in business.

Other companies’ shares that are rising are from the paints, specialty chemicals, IT services, and pharmaceuticals industries, including Kansai Nerolac, HCL Technologies, GlaxoSmithKline Pharmaceuticals, Atul and BASF India. IT stocks have been on a high since the second week of December 2021. A news report suggests that IT companies generally have a slow season in Q3FY22, but this financial year could be an exception as Covid related lockdowns and restrictions have led to a rise in demand for digital transformation spending for even mid-cap companies.

You can find more expert screeners here.

 
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Trendlyne Marketwatch
14 Jan 2022
Market closes higher, Nazara Technologies' arm acquires complete stake in Planet Superheroes

Trendlyne Analysis

Nifty 50 closed at 18,255.75 (-2.1, -0.0%) , BSE Sensex closed at 61,223.03 (-12.3, -0.0%) while the broader Nifty 500 closed at 15,730.40 (9.4, 0.1%)

Market breadth is in the green. Of the 1,840 stocks traded today, 1,078 showed gains, and 733 showed losses.

  • Trident, Supreme Industries, Zydus Wellness, and Endurance Technologies are trading with higher volumes as compared to Thursday.

  • GTPL Hathway's Q3FY22 net profit rises 21% YoY to Rs 54.65 crore whereas revenues fall by 7.42% YoY to Rs 613 crore. The profit growth is led by 35% YoY rise in internet service segment's revenues and 30% YoY growth in active broadband subscribers

  • Nazara Technologies rises as its arm NODWIN Gaming acquires 100% stake in licensed merchandising D2C company Planet Superheroes at a reported Rs 4.9 crore

  • HDFC Securities maintains a 'BUY' on Infosys and sees a target price upside of 19%. The company beat the brokerage's QoQ earnings growth expectation by 260 bps backed by robust deal wins. Infosys gave a strong growth outlook and upgraded its FY22 revenue growth guidance to 19.5-20% from 16.5-17.5% earlier.

  • Rossari Biotech is trading with more than eight times its weekly average trading volume. Tata Consumer Products, Lakshmi Machine Works, Sterling and Wilson Renewable Energy, and Kaveri Seed Company are trading at more than three times their weekly average trading volumes.

  • Aditya Birla Fashion and Retail acquires 51% in "Masaba", a brand by Masaba Gupta, for Rs 90 crore. The company will use the Masaba brand to strengthen its foray into fashion for young and digital native consumers. This acquisition will also help Aditya Birla Fashion to enter the branded beauty and personal care segment.

  • Aurobindo Pharma falls after its bulk drug manufacturing plant in Hyderabad receives a warning letter from the US FDA owing to violation of certain manufacturing practices. The company will not be able to market this plant’s products in the US until it resolves the concerns of the regulator.

  • Sanofi India’s Managing Director Rajaram Narayan resigns from the company on January 13, 2022 to pursue an opportunity outside of Sanofi. His resignation is effective from April 10, 2022.

  • Tata Metaliks' Q3FY22 net profit falls 52.5% YoY to Rs 35.66 crore and revenues rise by 31.2% YoY to Rs 693.12 crore. The profits fall on poor performance of the pig iron segment and a sharp spike in raw material costs.

  • Mindtree’s Q3FY22 net profit rises 9.7% QoQ to Rs 437.5 crore and revenues by 6.3% to Rs 2,750 crore. The management attributes the revenue momentum to rising demand, extensive customer mining and providing end-to-end digital transformation services to its clients.

Riding High:

Largecap and midcap gainers today include Bharat Electronics Ltd. (220.10, 5.03%), Tata Consumer Products Ltd. (762.50, 4.42%) and Indian Railway Catering & Tourism Corporation Ltd. (902.70, 3.98%).

Downers:

Largecap and midcap losers today include Motherson Sumi Systems Ltd. (185.55, -20.98%), MindTree Ltd. (4,547.95, -4.13%) and Au Small Finance Bank Ltd. (1,262.40, -3.52%).

Volume Shockers

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

Top high volume gainers on BSE included Triveni Turbine Ltd. (202.00, 13.01%), Jamna Auto Industries Ltd. (120.85, 7.85%) and HFCL Ltd. (91.85, 7.62%).

Top high volume losers on BSE were Motherson Sumi Systems Ltd. (185.55, -20.98%), MindTree Ltd. (4,547.95, -4.13%) and Aurobindo Pharma Ltd. (695.15, -3.13%).

Rossari Biotech Ltd. (1,343.20, 6.17%) was trading at 10.1 times of weekly average. Timken India Ltd. (2,073.65, -0.42%) and Aegis Logistics Ltd. (227.25, 5.80%) were trading with volumes 7.2 and 5.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (468.90, 3.85%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (542.25, 6.52%) and IDFC Ltd. (64.15, -0.31%).

Stocks making new 52 weeks lows included - Gillette India Ltd. (5,207.60, -0.45%) and Dilip Buildcon Ltd. (389.65, -3.89%).

15 stocks climbed above their 200 day SMA including Rossari Biotech Ltd. (1,343.20, 6.17%) and Tata Consumer Products Ltd. (762.50, 4.42%). 8 stocks slipped below their 200 SMA including Motherson Sumi Systems Ltd. (185.55, -20.98%) and Axis Bank Ltd. (721.70, -2.57%).

 
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The Baseline
14 Jan 2022
Five Interesting Stocks Today
  • Tata Steel: This steel company’s stock yielded negative returns in the past three months, along with most other steel stocks This correction in steel stocks comes after a 11% fall in domestic hard-rolled coil prices ever since November, 2021. Although ICICI Securities maintains a ‘Buy’ rating on Tata Steel, it reduced its target price by 15% in December 2021.

On Tuesday, Jefferies India downgraded the steel sector, and hence Tata Steel, to ‘Sell’. Jefferies believes muted real estate demand from the Chinese market and softening steel prices will likely impact Tata Steel’s margins from H2FY22 onwards. It expects EBITDA margins to contract in FY23 as spot steel prices may fall further by 9-10%. This may lead to a 44% fall in earnings. Interestingly, Indian brokerages like Axis Direct and Prabhudas Lilladher still hold a positive view on the steel sector. They anticipate that steel prices will not fall materially in FY23 as lower demand in China might be balanced out by lower production. Only time will tell whether the commodity cycle actually turns for the worse in FY23.

  • Hinduja Global Solutions: The journey of this stock in 2022 is nothing short of a theatrical drama. It hit a 52-week high on January 4, 2022 in anticipation of a dividend declaration and bonus issue. However, on January 7, the stock plunged nearly 20% after the company announced a special dividend of Rs 150 per share and a bonus issue of 1:1. An anticlimax you would think? Well, not exactly.

The company had earlier faced investors’ ire when it extended short-term loans of Rs 340 crore to its group entities in Q4FY20. HGS’ management informed them of this development only in August 2020 when the loan was already paid off. The company got embroiled in yet another corporate governance issue as it concluded the sale of its flagship healthcare services division. The cash inflow for the company in this deal is around Rs 8,082 crore while dividend outgo is a meagre Rs 315 crore. However, investors have a much bigger concern here. They suspect that a major part of this inflow will go to the related parties. This belief is backed by the company's history and the fact that the board raised the limit for corporate loans to Rs 3,500 crore from just Rs 500 crore. Also, as the company hives off the healthcare division, its earnings could fall by nearly 30-40% taking down the stock price as well. This story is far from over as the company recently announced that it will consider a buyback proposal on January 14. Only time will tell whether this move is a pure gimmick to support stock prices or real value lies on the table for the investors.

  • Avenue Supermarts (DMart): This stock slumped during intraday trade on Wednesday because of the company’s Q3FY22 earnings being a mixed bag. The company’s consolidated net profit rose 23.4% YoY to Rs 5,526 on a  22.2% YoY rise  in revenues to Rs 9,220 crore. However, gross margins remained flat at 15.4% YoY because of lower sales of general merchandise and apparel. Brokerage Prabhudas Lilladher suggests that a deterioration in sales mix and an expected rise in expenses by 15.2% YoY might hamper margins going forward. The brokerage has a  ‘Hold’ rating on the stock as it expects store expansions and increasing share of essentials in the sales mix to drive profit growth at a 31% CAGR from  FY20-24.

On the other hand, ICICI Securities downgraded its target price for Avenue Supermarts expecting footfalls to decrease and demand for general merchandise and apparel to stall in H2FY22. ICICI Securities feels  the trend of tepid demand is likely to continue due high inflation and reduced mobility because of restrictions on movement of people due to the pandemic’s third wave in many cities the company operates in.

  • Abbott India: This stock rallied for five continuous sessions in the last week of December 2021 and ended up 5.8%, but since January 1, the stock is on a downward trajectory losing nearly 8.5% . A recent report from Axis Securities says that the company’s Q2FY22 performance has been robust and its average growth rate of 11% in October 2021 and November 2021 outpaces the Indian Pharma Market’s growth of 5.8% by 520 bps. Axisreduced its target price by 2.7% to Rs 20,000 as it believes that the stock has limited upside. However, the brokerage maintains a positive outlook on the company and has a ‘Buy’ rating on the stock. According to Axis Securities’ report, the company retains its leading position in segments like women’s health, gastroenterology, metabolic, pain management, CNS, and vaccines. Axis Securities believes that its branded business will improve the company’s profitability in H2FY22. The distinct factor for this company’s growth prospects is its strategy of going digital and providing services beyond just medicinal pills and venturing into diagnostics, medical devices, and nutrition.

 
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Trendlyne Marketwatch
13 Jan 2022
Market closes flat, Equitas Small Finance Bank's advances rise 13% YoY

Trendlyne Analysis

Nifty 50 closed at 18,257.80 (45.5, 0.3%) , BSE Sensex closed at 61,235.30 (85.3, 0.1%) while the broader Nifty 500 closed at 15,721.05 (53.2, 0.3%)

Market breadth is neutral. Of the 1,848 stocks traded today, 941 were on the uptrend, and 871 went down.

  • Honeywell Automation India, AIA Engineering, Gillette India, and Nazara Technologies are trading with higher volumes as compared to Wednesday.

  • Equitas Small Finance Bank’s gross advances rise 13% YoY to Rs 19,642 crore at the end of December 2021, as demand for loans from the informal sector increase. Total deposits grew by 13% YoY to Rs 17,884 crore with retail term deposits rising 27% YoY to Rs 7,000 crore

  • Axis Direct initiates coverage on SAIL with a 'BUY' call and sees a target price upside of 44%. The rating is backed by expectation of EBITDA growth of 13.5% between FY21-24 owing to recovery in steel prices by FY23 and attractive valuations

  • Ramkrishna Forgings wins an export order from North America worth Rs 57.5 crore to supply spindles. This order will be implemented over a period of three years.

  • Metal stocks are trading in green with stocks like JSW Steel, Vedanta, Tata Steel, and Coal India rising. The broader sectoral index BSE Metal is also trading higher today.

  • TCNS Clothing Co. is trading with more than 40 times its weekly average trading volume. PNB Housing Finance, Jindal Stainless, ICICI Securities, and Karur Vysya Bank are trading at more than three times their weekly average trading volumes.

  • Wipro’s Q3FY22 net profit grows 1.3% QoQ to Rs 2,969 crore. Revenue from operations rises 3.2% QoQ to Rs 20,313.6 crore. In dollar terms, revenues from IT segment rise 2.3% QoQ to $2.64 billion. Operating margins fell 20 bps QoQ to 17.6% because of salary hikes and ESOPs given to senior management

  • Indraprastha Gas increases the prices of piped natural gas by Rs 0.50 per standard cubic metre for Delhi with effect from Wednesday. This is the second price hike after the company hiked gas prices back in October 2021

  • TCS’ Q3FY22 net profit rises 1.5% QoQ to Rs 9,769 crore while revenues increase 4.3% to Rs 48,885 crore. Cloud, cyber security, IoT and digital engineering-based services drive growth in Q3. The company announces a buyback of Rs 18,000 crore and an interim dividend of Rs 7 per share.

  • Tata Motors' arm Jaguar Land Rover's retail sales for Q3 FY22 drops 13.6% QoQ and 37.6% YoY to 80,126 units comprising of 14,407 units of Jaguar and 65,719 units of Land Rover.

  • Infosys’ Q3FY22 net profit rises 7% QoQ to Rs 5,809 crore on the back of a 7.7% increase in revenues to Rs 33,379 crore. The company’s large deal wins move up to $2.53 billion. The management believes large deal wins and rapid digital transformation have contributed to revenue growth in Q3FY22 and the trend is likely to continue.

Riding High:

Largecap and midcap gainers today include Polycab India Ltd. (2,685.15, 8.24%), Tata Steel Ltd. (1,221.15, 6.45%) and Jindal Steel & Power Ltd. (413.20, 5.84%).

Downers:

Largecap and midcap losers today include Wipro Ltd. (649.75, -6.02%), Motherson Sumi Systems Ltd. (234.80, -3.55%) and Oberoi Realty Ltd. (945.65, -2.81%).

Volume Shockers

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

Top high volume gainers on BSE included Polycab India Ltd. (2,685.15, 8.24%), TCNS Clothing Co. Ltd. (815.45, 7.54%), and Jindal Stainless Ltd. (206.15, 7.43%).

Top high volume losers on BSE were Wipro Ltd. (649.75, -6.02%), HDFC Bank Ltd. (1,528.00, -1.84%) and Supreme Industries Ltd. (2,248.20, -0.85%).

PNB Housing Finance Ltd. (508.50, 2.00%) was trading at 10.2 times of weekly average. FDC Ltd. (314.15, 5.01%) and Prince Pipes & Fittings Ltd. (700.40, 0.62%) were trading with volumes 8.5 and 7.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks made 52-week highs,

Stocks touching their year highs included - Astral Ltd. (2,483.45, -0.09%), Blue Dart Express Ltd. (7,255.30, -2.10%) and Chambal Fertilisers & Chemicals Ltd. (451.50, -0.46%).

16 stocks climbed above their 200 day SMA including Tata Steel Ltd. (1,221.15, 6.45%) and Jindal Steel & Power Ltd. (413.20, 5.84%). 5 stocks slipped below their 200 SMA including Berger Paints (India) Ltd. (781.95, -0.88%) and MOIL Ltd. (171.35, -0.81%).