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Trendlyne Analysis

Upbeat trading today. Nifty 50 closed at 17,536.25 (121.2, 0.7%) , BSE Sensex closed at 58,795.09 (454.1, 0.8%) while the broader Nifty 500closed at 15,150.60 (104.1, 0.7%)

Market breadth is in the green. Of the 1,818 stocks traded today, 1,104 were on the uptrend, and 675 went down.

• Tata Teleservices, Tube Investments of India, Bayer Cropscience, and Supreme Industries are trading with higher delivery volumes as compared to Wednesday

• Geojit Financial maintains a 'BUY' rating on PNC Infratech on the back of over 50% YoY growth in Q2 revenues. The company has a strong order pipeline of Rs 13,178 crore with order book/revenue ratio at 2.3x. The brokerage expects a target price upside of 22%.

• Page Industries stock rises after announcing its Q2FY22 results. Strong traction in e-commerce is likely to drive growth for 2HFY22. Revenues from e-commerce grew to 9% from 3% in Q2FY22. The company’s net profits grew 45% YoY to Rs 161 crore and revenues by 46% YoY to Rs 1,089 crore.

• Reliance Industries is trading hugher after its board approved the transfer of gasification undertaking into a wholly-owned subsidiary. This will enable RIL to assess the value of syngas to generate profits and upgrade RIL’s partnership in various chemical streams.

• LIC sells 1.33 crore shares or 2.02% stake in Grasim Industries on Wednesday. The insurer now holds 9.83% stake in the company.

• GlaxoSmithKline Pharmaceuticals is trading with more than eight times its weekly average trading volume. Tata Communications, Mahindra Logistics, and Aegis Logistics are trading at more than five times their weekly average trading volumes.

• Motilal Oswal maintains a 'Neutral' rating onITC on the back of 2-yr average volume growth of -1.5% in its cigarettes division, its flagship division still having over 80% share in its EBIT and likely tax policy change for cigarettes. The brokerage expects a target price upside of 4%

• Siemens is falling in after its Q4CY21 net profit dips 4.2% YoY to Rs 322 crore because of rising cost of raw materials and logistic expenses.

• Axis Securities upgrades its rating for Manappuram Finance to ‘Buy’ with a target price upside of 17% as gold loan business bounces back in Q2FY22 with a 13% QoQ growth. Net interest income grew 4% QoQ to Rs 986 crore and assets under management surge 15% QoQ to Rs 18,720 crore, showing positive growth prospects for FY22.

• Plutus Wealth Management picks up 4.5 lakh shares in Religare Enterprises and increases its stake from 5.97% to 6.11%.

• IPCA Laboratories purchases 48 lakh shares (17% stake) from non-promoter public shareholders of Lyka Labs in a bulk deal on Wednesday. IPCA Labs now owns 26% stake in Lyka Labs. IPCA Labs will make an open offer to acquire 74 lakh equity shares, which constitutes 26% stake in Lyka Labs.

• Nifty 50 was trading at 17,383.30 (-31.8, -0.2%) , BSE Sensex was trading at 58,317.66 (-23.3, -0.0%) while the broader Nifty 500 was trading at 15,010.00 (-36.5, -0.2%)

• Market breadth is in the green. Of the 1,735 stocks traded today, 922 showed gains, and 748 showed losses.

Riding High:

Largecap and midcap gainers today include GlaxoSmithKline Pharmaceuticals Ltd. (1,757.35, 8.54%), Vedanta Ltd. (367.60, 6.37%) and Torrent Pharmaceuticals Ltd. (2,990.55, 6.14%).

Downers:

Largecap and midcap losers today include Siemens Ltd. (2,154.85, -5.34%), InterGlobe Aviation Ltd. (2,071.60, -3.28%) and Rajesh Exports Ltd. (716.20, -3.12%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Aegis Logistics Ltd. (237.35, 17.41%), Jai Corp Ltd. (129.95, 13.10%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,757.35, 8.54%).

Top high volume losers on BSE were Siemens Ltd. (2,154.85, -5.34%) and Mahindra Logistics Ltd. (748.80, -1.32%).

Esab India Ltd. (2,825.05, 4.67%) was trading at 10.9 times of weekly average. Tata Communications Ltd. (1,293.55, 3.86%) and Westlife Development Ltd. (603.70, 3.99%) were trading with volumes 9.8 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks made 52 week highs, while 4 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (2,029.60, 4.78%), Carborundum Universal Ltd. (961.60, -2.03%) and Escorts Ltd. (1,813.85, 0.66%).

Stocks making new 52 weeks lows included - Colgate-Palmolive (India) Ltd. (1,457.20, -0.96%) and Hero MotoCorp Ltd. (2,594.70, -1.01%).

18 stocks climbed above their 200 day SMA including Jai Corp Ltd. (129.95, 13.10%) and Nilkamal Ltd. (2403.85, 6.43%). 8 stocks slipped below their 200 SMA including V-Guard Industries Ltd. (243.60, -2.29%) and Gujarat Pipavav Port Ltd. (102.95, -2.14%).

Trendlyne Analysis

Markets fell in today's trading. Nifty 50 closed at 17,415.05 (-88.3, -0.5%) , BSE Sensex closed at 58,340.99 (-323.3, -0.6%) while the broader Nifty 500closed at 15,046.50 (-61.3, -0.4%)

Market breadth is in the green. Of the 1,808 stocks traded today, 1,064 were in the positive territory and 699 were negative.

• Procter & Gamble Hygiene & Healthcare, Jyothy Labs, HCL Technologies, and Carborundum Universal are trading with higher delivery volumes as compared to Tuesday

• Motilal Oswal maintains 'BUY' rating for VRL Logistics on the back of 35% YoY sales volume growth posted by the company in Q2 and continued focus on margin accretive Less-than Truck Load (LTL) business. The brokerage expects a target price upside of 25%

• Media stocks are trading up with stocks like Zee Entertainment, Sun TV,PVR and Saregama rising. Zee Entertainment is particularly buzzing owing to the Sony-Zee merger deal being in the final phase of completion. The broader sectoral index i.e. Nifty Media is up 3.6% today.

• Central Bank of India is trading with more than six times its weekly average trading volume. Elgi Equipments, Indian Overseas Bank, and Carborundum Universal, are trading at more than five times their weekly average trading volumes.

• PI Industries’ whole-time director K.V.S. Ram Rao resigns from the company. He will step down from his position by 31st March, 2022.

• ICICI Securities sticks to its ‘Buy’ rating for CESC, with a target price upside of 43%. The brokerage expects the company’s digital initiatives and inorganic expansions to drive medium-term growth. CESC also plans of expanding the adoption of EV, and micro-grid technologies for infrastructure growth in Q3FY22.

• KPR Mill surges in trade on the back of commissioning of its new 42 million garments production capacity at Tirupur district, Tamil Nadu. This installation effectively augments the existing production capacity by 37%

• Bharti Airtel surges in trade after ratings agency Moody's upgrades its credit rating to 'positive' from 'stable'. The recent tariff hikes of 20-25% for prepaid customers and a 27% EBITDA growth to Rs 27,200 crore posted by the company in H1FY22 vis-à-vis H1FY21 bode well for the telecom company, the ratings agency said

• Promoter group consisting of Vedanta Netherlands Investment and Twin Star Holdings buy 13.8 crore shares in Vedanta at an average price of Rs 349.7. This deal represents additional 3.7% stake in the company.

• HDFC Mutual Fund offloads 5.23 lakh shares in Kirloskar Pneumatic company at an average price of Rs 392

• Nifty 50 was trading at 17,553.00 (49.7, 0.3%) , BSE Sensex was trading at 58,820.27 (155.9, 0.3%) while the broader Nifty 500 was trading at 15,167.90 (60.1, 0.4%)

• Market breadth is ticking up strongly. Of the 1,734 stocks traded today, 1,431 showed gains, and 258 showed losses.

Riding High:

Largecap and midcap gainers today include Indian Overseas Bank (22.50, 13.64%), Zee Entertainment Enterprises Ltd. (334.40, 7.04%) and The New India Assurance Company Ltd. (154.40, 5.64%).

Downers:

Largecap and midcap losers today include MindTree Ltd. (4,664.60, -3.45%), Pidilite Industries Ltd. (2,263.10, -3.42%) and Indian Railway Catering & Tourism Corporation Ltd. (862.80, -3.36%).

Volume Rockets

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

Top high volume gainers on BSE included Indian Overseas Bank (22.50, 13.64%), Central Bank of India (22.70, 10.46%) and Carborundum Universal Ltd. (981.55, 8.70%).

Tube Investments of India Ltd. (1,708.15, 0.23%) was trading at 7.0 times of weekly average. The New India Assurance Company Ltd. (154.40, 5.64%) and Vakrangee Ltd. (36.60, 5.93%) were trading with volumes 4.6 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks overperformed with 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Bharti Airtel Ltd. (758.90, 0.00%), Carborundum Universal Ltd. (981.55, 8.70%) and Rajesh Exports Ltd. (739.25, 1.63%).

Stock making new 52 weeks lows included - Spandana Sphoorty Financial Ltd. (434.10, -5.29%).

31 stocks climbed above their 200 day SMA including Central Bank of India (22.70, 10.46%) and V-Guard Industries Ltd. (249.30, 6.58%). 5 stocks slipped below their 200 SMA including Cipla Ltd. (893.45, -1.88%) and Phillips Carbon Black Ltd. (224.05, -1.36%).

Trendlyne Analysis

Nifty 50 closed at 17,503.35 (86.8, 0.5%) , BSE Sensex closed at 58,664.33 (198.4, 0.3%) while the broader Nifty 500 closed at 15,107.80 (131.1, 0.9%)

Market breadth is highly positive. Of the 1,810 stocks traded today, 1,414 were on the uptrend, and 354 went down.

• Westlife Development, Sundaram Fasteners, WABCO India, and Bajaj Holdings & Investment are trading with higher delivery volumes as compared to Monday.

• Metal stocks are trading up with stocks like Tata Steel, JSW Steel, Vedanta and Hindalco rising. The broader sectoral index Nifty Metal is up 3% today

• Anand Rathi maintains a 'BUY' on Tata Steel on the back of a 7.5X rise in its Q2FY22 net profit and expectation of further HRC prices hikes which could be taken by the company in H2FY22. The brokerage expects an upside of 50% from the current market price.

• IPCA Laboratories purchases 10.5 lakh shares (3.6% stake) of Lyka Labs in a bulk deal on Monday.

• Triveni Engineering surges in trade on the back of its 10-yr deal with GEAE Technology to manufacture parts for LM2500 gas turbine. This gas turbine is inturn used in Indian Navy's vessels

• Vedanta is trading with more than seven times its weekly average trading volume. Elgi Equipments, NMDC, and Atul Ltd, are trading at more than two times their weekly average trading volumes.

• Motilal Oswal maintains its 'Neutral' rating on Wipro post its investor day. The brokerage feels the IT major's current valuation already captures the prospects of 15%-16% earnings growth till FY23E

• Sumitomo Chemical India is rising despite reporting a fall in net profit by 1.8% YoY to Rs 155 crore from Rs 158 crore in Q2FY22. The company’s growth for 2HFY22 looks optimistic because of outsourcing opportunities with SCC Japan by improving asset turnover by 2.5X

• Axis Direct downgrades its rating for Escorts to ‘Hold’ from ‘Buy’ with a change in target price upside to 5% from 10% as net profits for Q2FY22 fall 23% YoY to Rs 177 crore and tractor segment volume growth drops by 14% YoY.

• Latent View Analytics' shares list at a 169% premium to its issue price of Rs 197 on their debut on the bourses. The issue was subscribed over 327 times on the back of a 120 times oversubscription in the retail quota and an 851 times subscription in the non institutional investors quota.

• Societe Generale sells 4.6 lakh shares of Fino Payments Bank in a bulk deal on Monday.

• Nifty 50 was trading at 17,336.75 (-79.8, -0.5%) , BSE Sensex was trading at 58,237.94 (-228.0, -0.4%) while the broader Nifty 500 was trading at 14,938.00 (-38.7, -0.3%)

• Market breadth is in the green. Of the 1,732 stocks traded today, 916 were in the positive territory and 755 were negative.

Riding High:

Largecap and midcap gainers today include Glenmark Pharmaceuticals Ltd. (516.70, 10.11%), Vedanta Ltd. (354.60, 7.99%) and Union Bank of India (46.90, 6.96%).

Downers:

Largecap and midcap losers today include Syngene International Ltd. (585.10, -3.53%), IndusInd Bank Ltd. (981.35, -2.54%) and Asian Paints Ltd. (3,185.55, -2.32%).

Movers and Shakers

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

Top high volume gainers on BSE included Raymond Ltd. (588.20, 16.13%), Glenmark Pharmaceuticals Ltd. (516.70, 10.11%) and Triveni Turbine Ltd. (183.20, 9.83%).

Top high volume losers on BSE were V-Guard Industries Ltd. (233.90, -1.20%) and Mahanagar Gas Ltd. (938.00, -0.23%).

Vedanta Ltd. (354.60, 7.99%) was trading at 8.3 times of weekly average. NMDC Ltd. (142.25, 4.90%) and Jyothy Labs Ltd. (150.00, 0.23%) were trading with volumes 3.4 and 3.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks took off, crossing 52 week highs, while 13 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bharti Airtel Ltd. (758.90, 2.26%), Raymond Ltd. (588.20, 16.13%) and Trident Ltd. (49.80, 4.95%).

Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (200.15, 2.93%) and Amara Raja Batteries Ltd. (640.20, 1.70%).

22 stocks climbed above their 200 day SMA including Navin Fluorine International Ltd. (3,516.55, 6.97%) and Rain Industries Ltd. (208.00, 6.31%). 25 stocks slipped below their 200 SMA including Syngene International Ltd. (585.10, -3.53%) and Supreme Industries Ltd. (2,150.00, -1.37%).

Trendlyne Analysis

Gloom in markets in today's trading. Nifty 50 closed at 17,416.55 (-348.3, -2.0%) , BSE Sensex closed at 58,465.89 (-1,170.1, -2.0%) while the broader Nifty 500 closed at 14976.70 (-325.9, -2.1%)

Market breadth is overwhelmingly negative. Of the 1,836 stocks traded today, 253 were in the positive territory and 1,551 were negative.

• Sundaram Finance, IIFL Wealth Management, Johnson Controls, and Bayer Cropscience are trading with lower delivery volumes as compared to Thursday.

• HDFC Securities initiates coverage on Tanla Platforms with a 'BUY' rating. The initiation was on account of robust revenue growth posted by Karix Mobile and the Turbloq platform on TTM basis. The brokerage expects a target price upside of 15%.

• Rajeev Jain, in a call with CLSA, shows optimism on Bajaj Finance’s growth. In the absence of the third wave of Covid, metrics for growth, risk, and debt management will return to normal, he said. The value momentum is much stronger especially in terms of rural growth, B2B, B2C businesses, and mortgage.

• Go Fashion India’s (owner of Go Colors brand) Rs 1,014-crore IPO gets bids for over 59 times its available 80.8 lakh shares on offer. Retail investors bid for over 44X of their quota of 14.7 lakh shares on the final day of bidding. The offer comprises of a fresh issue of Rs 125 crore and an offer for sale of Rs 888.6 crore by selling shareholders.

• Geojit BNP Paribas reduces target price for Bank of India by 13% as it contemplates asset quality to remain constant, owing to credit risks arising from MSME segment. The bank’s NII took a dip of 7.9% QoQ because of negative profits from investments and exchange transactions.

• Vodafone Idea is rising in the intra-day market on speculation of a hike on tariffs and fundraising to improve capital spends. Brokerages are optimistic with a ‘Buy’ rating and a target price upside of 5%.

• Sundram Fasteners is trading with less than seven times its weekly average trading volume. Bharti Airtel, Engineers India, and Indus Towers, are trading at more than three times their weekly average trading volumes.

• Plutus Wealth Management picks up 8 lakh shares in Religare Enterprises and increases its stake from 5.72% to 5.97%.

• Hindustan Zinc slips in trade as the Supreme Court allows the government to divest its 29.54% stake in the company. SC also calls for a CBI inquiry into the 2002 government disinvestment in the zinc producer.

• Bharti Airtel surges in trade on the back of a 20-25% tariff hike in prepaid plans and 20-21% tariff hike in data top-up plans effective November 26

• Reliance Industries slips in trade as the $15 billion deal which involved a 20% stake acquisition by Saudi Aramco in its O2C business is now off the table

• HDFC securities maintains a ‘Buy’ rating on Fine Organic Industries with a target price upside of 18% as it expects its leadership in oleo-chemicals in domestic and global markets to generate revenues above 22% in Q3FY22.

• Indian markets slumped today. Nifty 50 was trading at 17,632.65 (-132.2, -0.7%) , BSE Sensex was trading at 59,180.72 (-455.3, -0.8%) while the broader Nifty 500 was trading at 15,175.65 (-126.9, -0.8%)

• Market breadth is highly negative. Of the 1,759 stocks traded today, 470 showed gains, and 1,232 showed losses.

Riding High:

Largecap and midcap gainers today include Vodafone Idea Ltd. (10.60, 6.53%), Vedanta Ltd. (328.35, 6.07%) and Bharti Airtel Ltd. (742.10, 3.88%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (195.45, -8.24%), IDBI Bank Ltd. (47.80, -7.45%) and Tata Motors Limited (DVR) (268.80, -6.67%).

Volume Rockets

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

Top high volume gainers on BSE included Bharti Airtel Ltd. (742.10, 3.88%), Indus Towers Ltd. (291.95, 2.64%) and Engineers India Ltd. (71.15, 2.01%).

Top high volume losers on BSE were Brigade Enterprises Ltd. (465.70, -5.83%), Bajaj Finance Ltd. (7,058.30, -5.70%) and Relaxo Footwears Ltd. (1,292.60, -2.96%).

Sundram Fasteners Ltd. (791.75, -0.91%) was trading at 6.9 times of weekly average. Cholamandalam Financial Holdings Ltd. (705.15, 0.71%) and Bajaj Holdings & Investment Ltd. (4,872.10, -0.37%) were trading with volumes 4.8 and 3.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks made 52 week highs, while 15 stocks hit their 52 week lows.

Stocks touching their year highs included - Bharti Airtel Ltd. (742.10, 3.88%), Escorts Ltd. (1,802.75, -0.01%) and Finolex Cables Ltd. (586.35, 0.08%).

Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (194.45, -1.62%) and Amara Raja Batteries Ltd. (629.50, -2.92%).

4 stocks climbed above their 200 day SMA including Emami Ltd. (530.70, 2.83%) and Kansai Nerolac Paints Ltd. (589.95, -0.16%). 59 stocks slipped below their 200 SMA including Jai Corp Ltd. (110.25, -8.09%) and Navin Fluorine International Ltd. (3,287.45, -7.43%).

Trendlyne Analysis

Market sinks in today's trading. Nifty 50 closed at 17,764.80 (-133.9, -0.8%) , BSE Sensex closed at 59,636.01 (-372.3, -0.6%) while the broader Nifty 500 closed at 15,302.55 (-152.4, -1.0%)

Market breadth is sharply down. Of the 1,817 stocks traded today, 370 were on the uptrend, and 1,417 went down.

• PNB Housing Finance, eClerx, Emami and Max Healthcare Institute are trading with lower delivery volumes as compared to Wednesday.

• IDBI Capital reduces its target price for IRCON International to 21% from 33% in Q2FY22. The brokerage speculates revenue growth for Q3 to be 1% with little improvement in profit margins.

• ICICI Securities maintains a 'HOLD' rating on Coal India on the back of 2% YoY fall in realizations from its fuel supply agreements and erosion of EBITDA margins by 240 bps. The brokerage expects a target price upside of 3%.

• Go Fashion India (owner of Go Colors) Rs 1,014-crore IPO gets bids for over 4X times the available 80.8 lakh shares on offer. Retail investors bid for over 19X the available 14.68 lakh shares on offer on the second day of bidding.

• Axis securities upgrades its rating on JK Cement to ‘Buy’ from ‘Hold’ with a target price upside of 10%. The brokerage expects the company to post over 10% YoY volume growth till FY24 on the back of its capex plans and increased government spending on infrastructure projects.

• Zensar Technologies is trading with less than 12 times its weekly average trading volume. Shipping Corporation of India, Bayer Cropscience, and Escorts, are trading at more than four times their weekly average trading volumes.

• Macquarie Capital Securities (India) initiated coverage on One97 Communications (Paytm) with an underperform rating and a price target of 1,200 rupees, implying an over 40% downside from the issue price.

• Sapphire Foods' shares list at a 15% premium to the issue price of Rs 1,180 on their debut on the bourses. The issue was subscribed over 6.6 times on back of 8.7 times and 3.5 times subscription in retail quota and HNI quota respectively.

• One97 Communications' (Paytm's) shares lists at Rs 1,950 per share, a 9% discount to its issue price. The company’s Rs 18,300-crore IPO consisted of an offer for sale consisting of Rs 10,000 crore and a fresh issue of Rs 8,300 crore. The issue got bids worth 1.9X times the shares on offer.

• Vedanta sets up a panel under its board of directors to evaluate alternatives to simplify its corporate structure. The options include hiving off its aluminium, iron and steel, and oil and gas businesses in independent listed entities.

• Nifty 50 was trading at 17,883.40 (-15.3, -0.1%) , BSE Sensex was trading at 59,906.36 (-102.0, -0.2%) while the broader Nifty 500 was trading at 15,443.00 (-12.0, -0.1%)

• Market breadth is in the green. Of the 1,735 stocks traded today, 977 were in the positive territory and 689 were negative.

Riding High:

Largecap and midcap gainers today include Adani Transmission Ltd. (1,913.30, 3.00%), Bayer Cropscience Ltd. (4,743.00, 2.59%) and Punjab National Bank (41.65, 2.46%).

Downers:

Largecap and midcap losers today include Vedanta Ltd. (309.55, -8.47%), Bosch Ltd. (17,779.65, -5.89%) and Tata Power Company Ltd. (237.10, -5.12%).

Movers and Shakers

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

Top high volume gainers on BSE included Escorts Ltd. (1,802.85, 10.54%), Shipping Corporation of India Ltd. (140.65, 8.57%) and TCI Express Ltd. (2,016.75, 4.04%).

Top high volume losers on BSE were Zensar Technologies Ltd. (449.00, -8.67%), Vedanta Ltd. (309.55, -8.47%) and PNC Infratech Ltd. (303.50, -4.66%).

Hindustan Zinc Ltd. (322.95, -2.92%) was trading at 9.2 times of weekly average. Bayer Cropscience Ltd. (4,743.00, 2.59%) and Birlasoft Ltd. (469.25, -1.22%) were trading with volumes 5.9 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Escorts Ltd. (1,802.85, 10.54%), Finolex Cables Ltd. (585.90, -2.35%) and Grindwell Norton Ltd. (1,781.70, -3.70%).

Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (197.65, -2.30%) and Amara Raja Batteries Ltd. (648.45, -2.57%).

1 stock climbed above their 200 day SMA including Tata Communications Ltd. (1,260.25, 1.05%). 22 stocks slipped below their 200 SMA including Dilip Buildcon Ltd. (559.65, -4.29%) and Bajaj Electricals Ltd. (1,073.35, -4.18%).

Trendlyne Analysis

Markets closed on a low note. Nifty 50closed at 17,898.65 (-100.6, -0.6%) , BSE Sensex closed at 60,008.33 (-314.0, -0.5%) while the broader Nifty 500 closed at 15,454.95 (-70.5, -0.5%)

Market breadth is in the red. Of the 1,811 stocks traded today, 678 were gainers and 1,090 were losers.

• Sharda Corpchem, Sundaram Finance, KPIT Technologies, and Gujarat Fluorochemicals are trading with higher delivery volumes as compared to Tuesday.

• IDBI Capital maintains a ‘Buy’ rating on Ashoka Buildcon with a target price upside of 31% as it expects revenue growth to pick up in Q3FY22 post interruption due to heavy monsoons in Q2FY22. The order book for Ashoka Buildcon stands at Rs 1,870 crores in Q2FY22.

• Tarson Products' Rs 1,024-crore IPO gets bids for over 3.58 times its available 1.08 crore shares on offer. Retail investors bid for over 8.22X of their quota of 54 lakh shares on the final day of bidding. The offer comprises of a fresh issue of Rs 150 crore and an offer for sale of Rs 874 crore by selling shareholders.

• Go Fashion India (owner of Go Colors) Rs 1,014-crore IPO gets bids for over 1.5X times the available 80.8 lakh shares on offer. Investors bid for over 8X the available 14.68 lakh shares on offer on the first day of bidding. Go Fashion India raises Rs 456 crore from anchor investors.

• Cholamandalam Financial Holdings is trading with less than eight times its weekly average trading volume. RHI Magnesita India, TCNS Clothing Co., and Lux Industries, are trading at more than five times their weekly average trading volumes.

• Premji Invest's Pioneer Investment Fund buys 13.50 lakh shares of Tanla Platforms on Tuesday through a bulk deal at Rs 1,200. This makes up to about 0.99% of the total outstanding shares of the CPaaS based company.

• Tinplate Company's Q2 net profit jumps 366% YoY to Rs 74.9 crore due to over 80% rise in topline which is Rs 987 crore and nearly 500 basis points improvement in the operating margins to 11%.

• Motilal Oswal maintains a 'BUY' rating on KNR Constructions on back of over 25% YoY growth in Q2 revenues and a strong order pipeline of Rs 11,594 crore with order book/revenue ratio at 3.7x. The brokerage expects a target price upside of 28%

• Go Fashion India (owner of Go Colors brand) raises Rs 456 crore from anchor investors including the Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Fidelity, SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Axis MF, Aditya Birla Sun Life MF, and SBI Life Insurance Company.

• Sunil Singhania's Abakkus Asset Manager LLP purchases 8 lakh shares of TV Today Network in a bulk deal on Tuesday. The fund’s stake in the company rises to 1.34%.

• Nifty 50 was trading at 17,963.40 (-35.8, -0.2%) , BSE Sensex was trading at 60,200.35 (-122.0, -0.2%) while the broader Nifty 500 was trading at 15,516.75 (-8.7, -0.1%)

• Market breadth is in the green. Of the 1,733 stocks traded today, 1,033 were on the uptrend, and 624 went down.

Riding High:

Largecap and midcap gainers today include Apollo Hospitals Enterprise Ltd. (5733.95, 12.50%), Rajesh Exports Ltd. (741.25, 7.92%) and L&T Technology Services Ltd. (5675.50, 5.75%).

Downers:

Largecap and midcap losers today include Godrej Properties Ltd. (2,222.20, -4.30%), Petronet LNG Ltd. (228.05, -3.78%) and JSW Energy Ltd. (310.80, -3.60%).

Volume Shockers

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

Top high volume gainers on BSE included Apollo Hospitals Enterprise Ltd. (5,733.95, 12.50%), Welspun Corp Ltd. (159.40, 10.04%) and Birlasoft Ltd. (475.05, 8.32%).

Top high volume losers on BSE were Spandana Sphoorty Financial Ltd. (481.85, -4.01%), Emami Ltd. (526.90, -1.67%) and Linde India Ltd. (2460.35, -1.35%).

Cholamandalam Financial Holdings Ltd. (701.70, 0.07%) was trading at 8.6 times of weekly average. RHI Magnesita India Ltd. (350.35, 3.12%) and Lux Industries Ltd. (4,546.10, 7.66%) were trading with volumes 7.7 and 6.4 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, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (5,733.95, 12.50%), Century Plyboards (India) Ltd. (700.70, 0.21%) and Crisil Ltd. (3,392.65, 3.08%).

Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (665.55, -1.41%) and Bayer Cropscience Ltd. (4,623.30, -0.26%).

10 stocks climbed above their 200 day SMA including ITI Ltd. (121.35, 3.94%) and Torrent Pharmaceuticals Ltd. (2,834.40, 1.63%). 10 stocks slipped below their 200 SMA including Petronet LNG Ltd. (228.05, -3.78%) and Ipca Laboratories Ltd. (2,097.10, -2.61%).

Trendlyne Analysis

• CreditAccess Grameen, Sharda Corpchem, JB chemicals & Pharmaceuticals and EPL are trading with higher delivery volumes compared to Monday

• Tarson Products' Rs 1,024-crore IPO gets bids for over 1.82 times its available 1.08 crore shares on offer. Retail investors bid for over 3.52X their quota of 54 lakh shares on the 2nd day of bidding. The offer comprises of a fresh issue of Rs 150 crore and an offer for sale of Rs 874 crore by selling shareholders.

• PI Industries' Q2FY22 net profit rises 5.5% YoY to Rs 230 crore due to an over 15% growth in sales. This growth was driven by robust volume growth in the agro-chemical company's exports segment which reported Rs 993 crore sales for Q2FY22

• IDBI Capital maintains a 'BUY' rating on Tata Steel as it believes that steel prices are likely to stay firm on the back of China's curbs on its steel production. The brokerage expects a target price upside of 42%

• Auto stocks are trading higher with stocks like Maruti Suzuki, Motherson Sumi systems and Tata Motors rising. The broader sectoral index the Nifty Auto is up 1.25% intraday. Tata Motors is trading near its 52-week high and the others are trading close to their one-month high.

• New World Fund picks buys 34.18 lakh shares of PB Fintech on Monday through a bulk deal at Rs 1,192.96. This makes up to about 0.76% of the total outstanding shares of the company

• Ruchi Soya surges in trade owing to a nearly 30% YoY rise in its Q2 net profit to Rs 164 crore. The rise in profits is driven by an over 70% growth in its branded business sales to Rs 4,512 crore

• Macrotech Developers (Lodha) to completes Rs 4,000 crore via a QIP to fund growth opportunities and raise its public shareholding level. This move will bring down the promoter's holding in the company to 82.5%.

• PNC Infratech's Q2 net profit jumps 95% YoY to Rs 135 crore on the back of over 50% rise in the construction company's revenues to Rs 1,615 crore driven by the road EPC segment

• CAMS' Q2FY22 net profit rises 48% YoY to Rs 72.6 crore on the back of a double-digit growth in transaction volumes. Record high mutual fund new fund offer collections to the tune of Rs 30,000 crore by many mutual fund clients also helped boost the company's revenues, which rose by 33% to Rs 228 crore

• Market sinks in today's trading. Nifty 50 closed at 17999.20 (-110.3, -0.6%) , BSE Sensex closed at 60322.37 (-396.3, -0.7%) while the broader Nifty 500 closed at 15525.40 (-67.2, -0.4%)

• Market breadth is in the red. Of the 1814 stocks traded today, 789 showed gains, and 968 showed losses.

Riding High:

Largecap and midcap gainers today include Thermax Ltd. (1793.75, 10.17%), Maruti Suzuki India Ltd. (8050.35, 7.29%) and NHPC Ltd. (33.90, 6.60%).

Downers:

Largecap and midcap losers today include Endurance Technologies Ltd. (1701.95, -5.48%), Hindustan Petroleum Corporation Ltd. (337.50, -3.94%) and Union Bank of India (46.85, -3.90%).

Volume Rockets

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

Top high volume gainers on BSE included Greaves Cotton Ltd. (147.60, 10.73%), Spicejet Ltd. (78.15, 9.68%) and TCNS Clothing Co.Ltd. (861.25, 7.63%).

Top high volume losers on BSE were Phoenix Mills Ltd. (1072.85, -4.31%) and Ratnamani Metals & Tubes Ltd. (2168.65, -2.83%).

Sterlite Technologies Ltd. (304.35, 6.60%) was trading at 11.7 times of weekly average. Mahindra CIE Automotive Ltd. (298.45, 5.46%) and Tanla Platforms Ltd. (1325.95, 5.00%) were trading with volumes 10.5 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks hit their 52 week highs, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (5096.85, 0.31%), Ashok Leyland Ltd. (147.10, -3.29%) and Bata India Ltd. (2201.35, -1.27%).

Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (201.65, -0.84%) and Bayer Cropscience Ltd. (4635.50, -0.51%).

12 stocks climbed above their 200 day SMA including Greaves Cotton Ltd. (147.60, 10.73%) and Spicejet Ltd. (78.15, 9.68%). 13 stocks slipped below their 200 SMA including Ipca Laboratories Ltd. (2153.35, -2.12%) and City Union Bank Ltd. (159.10, -1.73%).

Trendlyne Analysis

Markets closed up today. Nifty 50 closed at 18,102.75 (229.2, 1.3%) , BSE Sensex closed at 60,686.69 (767, 1.3%) while the broader Nifty 500 closed at 15,579.00 (167.9, 1.1%)

Market breadth is in the red. Of the 1,806 stocks traded today, 799 were on the uptrend, and 950 went down.

• Jyothy Labs, Solar Industries India, Westlife Development, and TeamLease Services are trading with higher delivery volumes compared to Thursday.

• Astral is rising as its Q2FY22 volume growth of 20% YoY in pipes and 37% YoY growth in adhesives outshines its peers. With rising demand, the management is positive of clocking revenues worth Rs 1,000 crore in FY22.

• Galaxy Surfactants's net profit falls 49% YoY to Rs 42 crore despite a 22% YoY revenue growth to Rs 877 crore, as a sharp rise in prices of key inputs like fatty alcohol led to a 35% rise in total expenses to Rs 806 crore.

• HDFC Securities maintains a 'Reduce' rating on Petronet LNG on back of fall in volumes of Dahej & Kochi terminals YoY in Q2 driven by high spot LNG prices.The brokerage expects a target price upside of 2%.

• Reliance Industries's arm Reliance Retail Ventures buys 100% stake in ‘amante’ brand of MAS Brands, a wholly-owned subsidiary of MAS Holdings. This deal will help the retail business leverage Reliance’s portfolio of fashion and retail brands in Ithe Indian and Sri-Lankan markets.

• Latent View Analytics' Rs 600-crore IPO gets bids for over 225 times its available 1.75 crore shares on offer. Retail investors bid for over 100X their quota of 31 lakh shares. The offer comprises of a fresh issue of Rs 474 crore and an offer for sale of Rs 126 crore by selling shareholders.

• Axis Securities maintains a ‘buy’ rating on Birla Corporation with a target price upside of 11% as it expects rising demand of cement to drive revenue in the upcoming quarters. Birla Corp’s strategy to increase prices to pass on the effects of rising input costs will further improve volume growth and drive profits.

• SBI Mutual Fund sells 8.4 lakh shares of Elgi Equipments in a bulk deal on Thursday. The fund’s stake in the company falls to 5.29% (1.6 crore shares).

• Ratnamani Metals & Tubes is trading with more than 35 times its weekly average trading volume. Aavas Financiers, Asahi India Glass, and Alkem Laboratories are trading at more than six times their weekly average trading volumes.

• Fino Payments Bank makes a lackluster debut on the bourses and lists at 6% discount to the issue price of Rs 577. The issue was subscribed only 2 times due to its steep valuations and highly competitive industry.

• APL Apollo Tubes' promoter Rahul Gupta and another promoter group entity APL Infrastructure together sell 1.8% stake worth Rs 405 crore in the company through a bulk deal on Thursday. This brings down the promoter group stake in the company to 35%.

• Indiabulls Housing Finance’s Q2 net profits falls 11% YoY to Rs 286 crore because of a 12% decrease in loan book to Rs 64,062 crore. Net NPAs shrink 10 bps YoY to Rs 1,179 crore in Q2FY22.

• Tata Steel's net profit rises more than 7.5 times YoY to Rs 11,918 crore on the back of hot rolled coil steel prices doubling in the last year, and double-digit volume growth.

• Zee Entertainment Enterprises’ Q2 net profit soars 3X YoY to Rs 270 crore. The company's advertisement revenues rise 21% YoY to Rs 1,089 crore despite the media sector being hit by the pandemic.

• Markets are up today morning. Nifty 50 was trading at 17,979.85 (106.3, 0.6%) ,BSE Sensex was trading at 60,272.66 (353.0, 0.6%) while the broader Nifty 500 was trading at 15,496.65 (85.6, 0.6%)

• Market breadth is ticking up strongly. Of the 1,722 stocks traded today, 1,175 were on the uptick, and 467 were down.

Riding High:

Largecap and midcap gainers today include InterGlobe Aviation Ltd. (2,306.25, 7.39%), Varun Beverages Ltd. (971.85, 5.45%) and Adani Transmission Ltd. (1,988.35, 5.00%).

Downers:

Largecap and midcap losers today include Endurance Technologies Ltd. (1,816.75, -5.20%), JSW Energy Ltd. (322.60, -3.28%) and Godrej Consumer Products Ltd. (919.60, -3.27%).

Volume Shockers

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

Top high volume gainers on BSE included Sheela Foam Ltd. (3,117.35, 13.95%), IDFC Ltd. (62.90, 9.87%) and Minda Industries Ltd. (936.30, 8.60%).

Top high volume losers on BSE were Solara Active Pharma Sciences Ltd. (1,122.45, -10.11%), Endurance Technologies Ltd. (1,816.75, -5.20%) and FDC Ltd. (306.25, -3.47%).

Ratnamani Metals & Tubes Ltd. (2,240.85, 3.53%) was trading at 42.9 times of weekly average. Alkem Laboratories Ltd. (3,550.20, 0.57%) and Aavas Financiers Ltd. (2,861.30, 3.28%) were trading with volumes 11.5 and 9.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

24 stocks made 52 week highs,

Stocks touching their year highs included - ACC Ltd. (2,571.95, 0.54%), Bharat Electronics Ltd. (223.60, 0.13%) and Blue Star Ltd. (1,052.50, -2.42%).

11 stocks climbed above their 200 day SMA including Welspun Corp Ltd. (147.95, 5.79%) and Sanofi India Ltd. (8,290.35, 3.34%). 14 stocks slipped below their 200 SMA including JTEKT India Ltd. (96.25, -3.36%) and Indiabulls Housing Finance Ltd. (230.15, -2.85%).