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The Baseline
10 Oct 2021
Stocks outperforming the index ahead of results, with broker upgrades

As we enter the September quarter results season, some stocks are beginning to pop with investors, indicating anticipation of a strong Q2. Right now, both analysts and investors are gravitating to one set of companies in particular - those in the technology sector.

Five of six stocks in this screener (live screener, so stocks will keep updating) filters for three criteria - 1) upcoming results 2) broker upgrade in the past three months and 3) weekly performance beating the Nifty500 - are currently technology stocks. Q2 is a seasonally strong sector for tech, and analysts are expecting a good performance for much of Indian IT. 

1) Persistent Systems: This tech company is the biggest gainer in the list this past week, rising by over 10% in share price. Persistent has been in the news regarding recent acquisitions and Axis Direct is bullish on the stock, despite its PE of nearly 60. 

2) Mphasis: The Blackstone-controlled tech company has also been gaining in the past week, with recent buzz around the company's acquisition of US firm Blink, that gives it access to large US tech businesses that are Blink's customers including Facebook and Google. The acquisition has enthused analysts including Prabhudas Liladhar to assign a BUY rating on the stock. It's PE TTM is 47+.

3) Mindtree: Mindtree has ridden the Covid wave in the past three quarters, with its share price rising over 200% in the past year. Brokerages have been bullish on Mindtree, and Indian software's second tier is expected to continue growing faster than the Tier 1 companies of TCS, Infosys and Wipro. 

4) Zensar Technologies: Zensar Technologies is a relatively under the radar Indian IT company which has recently been in the upswing since its new CEO Ajay Bhutoria took the reins. The company saw significant momentum in deal wins in the past quarter, as it booked orders worth over $96 million.

5) Asian Paints: The only non-tech company in this screener is the market leader in the paints industry. Besides its index outperformance and expectations of a strong Q2 ahead of India's festival season, this company has also seen mutual funds raise their holdings in the stock in the past month. 

See the full screener. This screener will continue to update through the results season. 

 
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The Baseline created a screener Stocks outperforming the index, …
10 Oct 2021
Stocks which are outperforming the index, with broker upgrades ahead of their results
 
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Trendlyne Marketwatch
08 Oct 2021
Market closes higher, Bajaj Auto's CFO resigns

Trendlyne Analysis

Markets rose in today's trading. Nifty 50 closed at 17,895.20 (104.9, 0.6%) ,BSE Sensex closed at 60,059.06 (381.2, 0.6%) while the broader Nifty 500closed at 15,365.20 (75.1, 0.5%)

Market breadth is in the green. Of the 1799 stocks traded today, 925 were gainers and 827 were losers.

  • HDFC Mutual Fund sells over 6 lakh shares (2% stake) of Atul in an open market transaction on Wednesday.

  • Oberoi Realty's sales bookings increases by 2.5X to Rs 828.5 crore in Q2FY22, with total sales volume of 4.4 lakh sq ft, a 3.8X jump.

  • Orient Electric, eClerx Services, Home First Finance Company India, and Kansai Nerolac Paints are trading with higher delivery volumes compared to Thursday. 

  • Nifty Realty index is trading lower after RBI leaves rates unchanged. Godrej Properties, Sobha , Phoenix Mills, and Oberoi Realty are falling.

  • Bajaj Auto’s Chief Financial Officer Soumen Ray resigns. He will step down from his position at the end of the year.

  • ICICI Direct maintains a 'Hold' rating on Oil and Natural Gas Corporation with a 10% downside on its target price as the brokerage expects the company to underperform due to lower domestic oil and gas production.

  • Vijay Kedia sells 11 lakh shares in Tejas Networks, which he held in his individual capacity, in Q2FY22. His stake in the telecom company is now below 1%.

  • Ratnamani Metals and Tubes is trading with more than nine times its weekly average trading volume. Wockhardt, Zensar Technologies, and Ashoka Buildcon are trading with more than four times their weekly average trading volume.

  • Reports suggest Dixon Technologies will sign a contract manufacturing agreement with Acer to make laptops for the domestic market with a target of 5 lakh laptops per year.

  • Ratnamani Metals & Tubes wins an order worth Rs 98 crore to supply carbon steel pipes to companies in the domestic oil and gas sector.

  • ICICI Securities downgrades its rating on Sobha to 'Hold' from 'Add' with a target price at a downside of 10.6% due to the recent run up in the stock's price. The company's stock is trading at a TTM PE of 123.5, against a three year average PE of 25.4.

  • SBI Mutual Fund sells 8.4 lakh shares (0.57% stake) in Great Eastern Shipping Company in an open market transaction on Wednesday.

  • Porinju Veliyath's Equity Intelligence India buys over 92,000 shares of Prevest Denpro for Rs 2.2 crore in a bulk deal on Thursday.

  • Rakesh Jhunjhunwala buys 2.9 crore shares of Canara Bank worth Rs 508 crore in Q2FY22. He now holds a 1.6% stake in the company.

  • Nifty 50 was trading at 17,875.55 (85.2, 0.5%) , BSE Sensex was trading at 59,872.73 (194.9, 0.3%) while the broader Nifty 500 was trading at 15,362.15 (72, 0.5%)

  • Market breadth is surging up. Of the 1,723 stocks traded today, 1,292 showed gains, and 373 showed losses.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (47.85, 6.45%), MRF Ltd. (85860.45, 5.65%) and Bandhan Bank Ltd. (345.80, 5.25%).

Downers:

Largecap and midcap losers today include Piramal Enterprises Ltd. (2736.25, -5.26%), Adani Transmission Ltd. (1678.70, -4.85%) and Godrej Properties Ltd. (2359.50, -4.74%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Chambal Fertilisers & Chemicals Ltd. (434.45, 15.59%), Ashoka Buildcon Ltd. (116.10, 12.61%) and UCO Bank (14.80, 9.23%).

Top high volume losers on BSE were Mahindra Lifespace Developers Ltd. (275.55, -1.08%) and Gulf Oil Lubricants India Ltd. (588.40, -0.26%).

Ratnamani Metals & Tubes Ltd. (2207.15, 0.32%) was trading at 16.0 times of weekly average. Zensar Technologies Ltd. (508.10, 9.22%) and Wockhardt Ltd. (506.70, 5.50%) were trading with volumes 9.3 and 6.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

40 stocks made 52 week highs,

Stocks touching their year highs included - Atul Ltd. (10535.20, 0.86%), Bata India Ltd. (1963.85, 1.00%) and BEML Ltd. (1513.60, -1.60%).

10 stocks climbed above their 200 day SMA including MRF Ltd. (85860.45, 5.65%) and Wockhardt Ltd. (506.70, 5.50%). 3 stocks slipped below their 200 SMA including Solara Active Pharma Sciences Ltd. (1452.60, -1.96%) and Symphony Ltd. (1070.90, -1.46%).

 
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The Baseline
08 Oct 2021
Five Interesting Stocks Today

  1. Chemplast Sanmar: This specialty chemical maker’s stock has got institutional investors and rating agencies excited. Earlier this week, Mirae Asset Mutual Fund purchased an additional 81,000 shares in the company. The mutual fund is still holding on to its 29.5 lakh shares that it purchased when the stock was listed on exchanges in August 2021. The chemical maker’s stock listed at a 3% discount, but since then has gained 36%. Rating agency Crisil gave the company’s long term loans an A+ rating with a positive outlook.

  2. Hindustan Petroleum Corporation: This PSU oil and gas company’s stock is up by 27% in less than two months amid news of a looming energy crisis. The stock has outperformed O&G peers  — Indian Oil Corporation, and Bharat Petroleum Corporation as well as the benchmark Nifty50 in the past year. Even after this rally, its trailing 12-month (TTM) price to earnings (PE) ratio is 4.2 times, against an average PE of 6.4, placing it in the buy-zone.

  3. Tata Motors: This automobile maker’s electric passenger vehicle (electric PV) sales are skyrocketing. In September 2021, the company sold over 1,070 electric PVs, a 3.5X growth over the previous year and a 5% growth over the previous month’s sales. Electric PVs now make up over 4% of its total PV wholesales. In addition to the high electric PV sales, the company’s commercial vehicle wholesales grew by 33% YoY and its internal combustion engine (or ICE) passenger vehicle sales grew by 18% YoY in September.

  4. Godrej Consumer Products (GCPL): This FMCG company’s stock is down by 10% in two weeks despite a positive outlook and an expected management change. Earlier this week, the management said Q2FY22 revenues will grow at a double-digit compounded annual growth rate (CAGR) against Q1FY20 revenues due to higher sales volumes and price hikes. On October 18, former Hindustan Unilever  executive Sudhir Sitapati will take charge of the GCPL as Managing Director and CEO. Since announcing the arrival of Sitapati in May 2021, GCPL’s stock is up by 42%.

  5. Sobha: This real estate company’s sales bookings surged in Q2FY22 and they expect more of the same in H2FY22. In Q2, bookings rose by 49% YoY to Rs 1,032 crore (33% of FY21’s total sales bookings) with a 51% growth in sales volumes to 13 lakh square feet of properties. The company expects the festive season and its new launches to sustain the sales momentum in Q3 and Q4. In the past month, the Nifty Realty index jumped by 25% while Sobha lagged with a 10% growth. However, over the past year, Sobha was the highest gainer among realty stocks as its stock price tripled.

 
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Trendlyne Marketwatch
07 Oct 2021, 03:50PM
Market closes higher, LIC buys 3.9 crore shares of Ambuja Cements

Trendlyne Analysis

Markets closed higher. Nifty 50 closed at 17,790.35 (144.4, 0.8%) , BSE Sensex closed at 59,677.83 (488.1, 0.8%) while the broader Nifty 500 closed at 15,290.15 (155.6, 1.0%)

Market breadth is overwhelmingly positive. Of the 1794 stocks traded today, 1216 were on the uptick, and 525 were down.

  • Westlife Development, Procter & Gamble Hygiene & Healthcare, Timken India, and Equitas Small Finance Bank are trading with higher delivery volumes compared to Wednesday.

  • Motilal Oswal maintains a ‘Buy’ rating on Gujarat Gas with a target price at an upside of 35%. The brokerage expects the company's margins to improve following price hikes of Rs 2.5 per unit for compressed natural gas and Rs 9.5 per unit for piped natural gas.

  • Kalyan Jewellers India is rising as the jewellery company's revenue grows by 60% YoY in Q2FY22. The company's southern store sales grow by 40% while remaining stores' sales are up by 70% in the quarter.

  • Macrotech Developers' sales bookings in Q2FY22 rises by 88% YoY to Rs 2,003 crore. The real estate company expects FY22 sales bookings to reach Rs 9,000 crore by March 2022.

  • Tata Steel's Q2FY22 steel production rises by 7% YoY to 7.7 million tonnes (MT) and sales fall by 6% to 7.4 MT. Domestic production is up by 3% to 4.73 MT and sales is down by 8% to 4.6 MT in the quarter.

  • Axis Securities maintains a 'Hold' rating on Astral with a target price at a 4.6% downside as the brokerage expects limited upside from higher PVC pipe prices.

  • Sobha is trading with more than six times its weekly average trading volume. Titan Company, Kalyan Jewellers India, and The New India Assurance Company are trading with more than three times their weekly average trading volume.

  • Sobha's sales volume grows by 50.6% YoY to 13.5 lakh sq ft in Q2FY22 and sales value is up by 51% to Rs 1,030 crore.

  • Au Small Finance Bank's total deposits in Q2FY22 increases by 45% YoY to Rs 39,034 crore with a 24% growth in loans to Rs 38,011 crore. The bank's current account to savings account (CASA) ratio was 30% in the quarter.

  • Nazara Technologies’ board of directors approves a preferential allotment of 14.2 lakh shares to raise Rs 315.3 core. The investors include Gamnat Pte (3.6% stake) and Plutus Wealth (6.92% stake). The shares will be locked in for one year from the date of issue.

  • Titan Company’s revenue grows by 78% YoY to Rs 3,519 crore led by a 78% growth in jewellery revenues and a 73% growth in watch and wearables revenue.

  • Reliance Industries' retail subsidiary Reliance Retail Ventures Limited will launch the 7-Eleven convenience stores in India. On Tuesday, Future Retail terminated its master franchise agreement with 7-Eleven as it could not meet the store target and pay the franchise fees.

  • Ambuja Cements is rising as Life Insurance Corporation of India buys 3.9 crore shares (2.01% stake) in the cement maker in an open market transaction on Tuesday.

  • Blackrock India Equity Fund sells 25.5 lakh rights entitlement of Bharti Airtel at Rs 207 per share. The telecom company's Rs 21,000 crore rights issue opened on Tuesday.

  • Markets opened high. Nifty 50 was trading at 17809.35 (163.4, 0.9%) , BSE Sensex was trading at 59774.43 (584.7, 1.0%) while the broader Nifty 500 was trading at 15288.20 (153.7, 1.0%)

  • Market breadth is surging up. Of the 1715 stocks traded today, 1483 were on the uptick, and 175 were down.

Riding High:

Largecap and midcap gainers today include Tata Motors Ltd. (376.50, 12.04%), Titan Company Ltd. (2375.35, 10.60%) and Relaxo Footwears Ltd. (1330.10, 10.41%).

Downers:

Largecap and midcap losers today include Oil And Natural Gas Corporation Ltd. (160.40, -4.58%), GAIL (India) Ltd. (159.65, -4.06%) and Oil India Ltd. (242.45, -2.45%).

Volume Shockers

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

Top high volume gainers on BSE included Sobha Ltd. (884.75, 16.64%), Tata Motors Ltd. (376.50, 12.04%) and Titan Company Ltd. (2375.35, 10.60%).

Top high volume losers on BSE were Trident Ltd. (32.40, -4.57%), Grasim Industries Ltd. (1592.00, -0.44%) and Orient Electric Ltd. (325.80, -0.12%).

Mishra Dhatu Nigam Ltd. (198.05, 5.94%) was trading at 13.6 times of weekly average. Chambal Fertilisers & Chemicals Ltd. (375.85, 9.98%) and VIP Industries Ltd. (545.55, 9.27%) were trading with volumes 9.6 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

37 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Atul Ltd. (10445.55, 6.59%), Bata India Ltd. (1944.40, 6.44%) and BEML Ltd. (1538.15, 2.97%).

11 stocks climbed above their 200 day SMA including Bandhan Bank Ltd. (328.55, 7.49%) and Mishra Dhatu Nigam Ltd. (198.05, 5.94%). 4 stocks slipped below their 200 SMA including Solara Active Pharma Sciences Ltd. (1481.60, -3.43%) and MOIL Ltd. (164.55, -2.32%).

 
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The Baseline created a screener Stocks with newly published …
06 Oct 2021, 11:34PM
 
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The Baseline created a screener Stocks in PBV Sell …
06 Oct 2021, 05:02PM
Stocks which are in the Sell Zone based on their Price to Book Value (P/BV) Ratio
 
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Trendlyne Marketwatch
06 Oct 2021, 03:50PM
Market closes lower, Bajaj Finance's AUM increases by 21% YoY in Q2FY22

Gloom in markets in today's trading. Nifty 50closed at 17646.00 (-176.3, -1.0%) , BSE Sensexclosed at 59189.73 (-555.2, -0.9%) while the broader Nifty 500 closed at 15134.55 (-145.6, -1.0%)

Market breadth is in the red. Of the 1793 stocks traded today, 602 showed gains, and 1141 showed losses.

  • Trident, AIA Engineering, APL Apollo Tubes, and 3M Indiaare trading with higher delivery volumes compared to Tuesday.

  • Monarch Networth Capital maintains a 'Buy' rating on Kirloskar Ferrous Industries with a target price upside of 40%. The brokerage expects demand for the company's castings and customer additions in machining to bode well in FY22.

  • Mirae Asset Mutual Fund buys over 80,000 shares of Chemplast Sanmar in an open market transaction on Monday.

  • Marico is trading higher as the company expects Q2FY22 revenues to grow by 20-23% CAGR against Q2FY20 led by a double digit growth in sales volumes.

  • Reserve Bank of India replaces the board of SREI Infrastructure Finance due to governance issues and payment defaults as the company approaches bankruptcy.

  • Westlife Development is trading with more than seven times its weekly average trading volume. Bosch, Nesco, and Tata Teleservices are trading with more than three times their weekly average trading volume.

  • Axis Securities maintains a 'Buy' rating on HDFC Bank with a target price at a 12% upside as the bank's loan book grew by 15.4% YoY in Q2FY22 due to a pick up in housing, consumer, and vehicle loans.

  • Phillips Carbon Black raises Rs 400 crore through a qualified institutional placement of 1.6 crore equity shares at Rs 244 per share.

  • Force Motors' total wholesales in September 2021 rises by 0.5% MoM to 2,159 units and domestic wholesales rise by 32.3% to 1,968 units. The company’s exports fall 46% to 272 units in the month.

  • SBI Mutual Fund sells over 36,000 shares (0.3% stake) in Kewal Kiran Clothing in an open market transaction on Monday.

  • Bajaj Finance's Q2FY22 assets under management (AUM) increases by 21.7% YoY to Rs 1.6 lakh crore with its deposit book at Rs 28,700 crore, a 32% growth.

  • ICICI Lombard General Insurance Company's institutional investor Axa SA sells 1.7 crore shares worth nearly Rs 2,700 crore in a bulk deal on Tuesday.

  • Godrej Consumer Products' management expects double-digit revenue growth in Q2FY22 due to higher sales volumes and price hikes. In Q1FY22, revenues were Rs 2,915 crore, a 24% YoY growth.

  • Vedanta Group is looking to bid for the Government’s stake in Hindustan Copper when the firm is up for privatisation.

  • IDFC First Bank's Q2FY22 customer deposits jump by 21% YoY to Rs 83,793 crore, with a 9.7% growth in loans to Rs 1.1 lakh crore. The bank's current account to savings account (CASA) ratio was 52% in the quarter.

  • Nifty 50 was trading at 17,868.70 (46.4, 0.3%) , BSE Sensex was trading at 59,832.42 (87.5, 0.2%) while the broader Nifty 500 was trading at 15,335.45 (55.4, 0.4%)

  • Market breadth is highly positive. Of the 1,711 stocks traded today, 1,365 were on the uptick, and 291 were down.

Riding High:

Largecap and midcap gainers today include Bosch Ltd. (17277.35, 11.66%), Indian Railway Catering & Tourism Corporation Ltd. (4463.35, 7.13%) and Coromandel International Ltd. (857.00, 3.62%).

Downers:

Largecap and midcap losers today include IDBI Bank Ltd. (44.40, -5.83%), Aditya Birla Fashion and Retail Ltd. (240.75, -5.81%) and Astral Ltd. (2246.05, -5.04%).

Movers and Shakers

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

Top high volume gainers on BSE included Bosch Ltd. (17277.35, 11.66%), Deepak Nitrite Ltd. (2886.80, 8.10%) and Infibeam Avenues Ltd. (46.40, 6.67%).

Top high volume losers on BSE were Suzlon Energy Ltd. (6.85, -3.52%), Rites Ltd. (288.00, -1.20%) and Alembic Pharmaceuticals Ltd. (778.70, -1.10%).

Nesco Ltd. (645.50, 4.86%) was trading at 16.7 times of weekly average. Westlife Development Ltd. (553.50, -0.63%) and Uflex Ltd. (566.15, 5.12%) were trading with volumes 8.8 and 8.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

31 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Atul Ltd. (9799.85, -1.11%), Bosch Ltd. (17277.35, 11.66%) and Canara Bank (174.45, -2.95%).

10 stocks climbed above their 200 day SMA including Infibeam Avenues Ltd. (46.40, 6.67%) and Hindustan Copper Ltd. (125.00, 4.12%). 9 stocks slipped below their 200 SMA including Bajaj Auto Ltd. (3770.05, -2.43%) and Shriram Transport Finance Company Ltd. (1303.20, -2.40%).

 
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The Baseline
06 Oct 2021, 10:25AM
Chart of the week: HDFC Bank's loss is ICICI Bank and SBI Cards' gain

In August 2021, the RBI allowed HDFC Bank to issue credit cards after nine months. During this time, ICICI Bank and SBI Cards and Payment Services (State Bank of India's credit card issuer) have grabbed market share at HDFC Bank's expense. 

In December 2020, HDFC Bank had a 25.2% share of the credit card market (by outstanding credit cards issued). This dropped to 23.1% in August. In that time, ICICI Bank and SBI Cards issued 24.8 lakh and 19.4 lakh credit cards in nine months, increasing their market share to 17.9% and 19.4%, respectively.

However, it looks like HDFC Bank is now working to close the gap. In the one month since RBI lifted the ban, HDFC Bank issued over 4 lakh credit cards. The largest bank in the country will target adding 5 lakh new credit card customers in the next two quarters.

 
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Trendlyne Marketwatch
05 Oct 2021
Market closes higher, Jindal Steel and Power's steel sales jumps 32% QoQ

Upbeat trading today. Nifty 50 closed at 17822.30 (131.1, 0.7%) , BSE Sensex closed at 59744.88 (445.6, 0.8%) while the broader Nifty 500 closed at 15280.10 (99.0, 0.7%)

Market breadth is in the green. Of the 1797 stocks traded today, 1052 were gainers and 674 were losers.

  • Sundaram Finance, 3M India, Max Healthcare Institute, and Timken India are trading with higher delivery volumes compared to Monday.

  • Tata Power Company partners with TVS Motor Company to set up electric vehicle charging infrastructure (EVCI) across India for the latter. Tata Power’s EV charging network comprises of more than 5,000 home chargers and over 700 public chargers in 120 cities.

  • IndusInd Bank’s loans rise 10% YoY and 5% QoQ to Rs 2.2 lakh crore in Q2FY22. The bank's deposits are up by 21% YoY and by 3% QoQ to Rs 2.75 lakh crore in Q2FY22.

  • Axis Securities maintains a ‘Buy’ rating on Aarti Industries with a target price upside of 15%. The brokerage is enthused about the company's growth prospects due to the upcoming capacity boost of 59% to 1.75 TPA at its chlorination unit.

  • Mahindra & Mahindra Financial Services' total disbursements in Q2FY22 rises by 60% YoY to Rs 6,450 crore and collection effeciency in September was 100%.

  • Jindal Steel and Power’s steel sales volume rises 10% YoY and 32% QoQ to 2.13 million tonnes (MT) in Q2FY22. The company posts sales over 2 million tonnes for the first time ever.

  • Zydus Wellness is trading with more than eleven times its weekly average trading volume. Valiant Organics, GMM Pfaudler, and FDC are trading with more than four times their weekly average trading volume.

  • Hindustan Zinc's mined metal production rises by 4% YoY to 2.4 lakh tonnes in Q2FY22 due to higher ore production at its Rajasthan mine.

  • HDFC Securities maintains a 'Buy' rating on Fine Organic Industries with a target price at a 19% upside expecting the return on capital employed (ROCE) to improve to 23% in FY24 from 19% in FY22 due to the completion of capital expenditure.

  • IndusInd Bank’s loans rise 10% YoY and 5% QoQ to Rs 2.2 lakh crore in Q2FY22. The bank's deposits are up by 21% YoY and by 3% QoQ to Rs 2.7 lakh crore.

  • ICICI Lombard General Insurance Company's institutional investor Axa SA to sell 175 crore shares (3.5% stake) in a bulk deal valued at Rs 2,620 crore.

  • Macrotech Developers sells properties worth Rs 1,100 crore in its London project and expects to clear unsold inventory by FY24. As of December 2020, 2 lakh sq ft of its London real estate portfolio was unsold.

  • HFCL wins an order worth Rs 287 crore from RailTel Corporation to set up a data communications network for the armed forces.

  • Gujarat Gas is rising as the gas distribution company increases the retail price of its compressed natural gas and piped natural gas by Rs 2.5 and Rs 9.5 respectively.

  • HDFC Bank's total loans and advances in Q2FY22 grow by 15.4% YoY to Rs 11.9 lakh crore with a 14.4% growth in total deposits to Rs 14 lakh crore. The private bank's CASA ratio in Q2FY22 was 47%, compared to 41.6% in Q2FY21.

  • Nifty 50 was trading at 17,682.65 (-8.6, -0.1%) , BSE Sensex was trading at 59,264.89 (-34.4, -0.1%) while the broader Nifty 500 was trading at 15,187.35 (6.2, 0.0%)

  • Market breadth is surging up. Of the 1726 stocks traded today, 1135 were on the uptick, and 504 were down.

Riding High:

Largecap and midcap gainers today include Oil And Natural Gas Corporation Ltd. (163.65, 10.87%), Tata Power Company Ltd. (179.40, 6.41%) and Aditya Birla Fashion and Retail Ltd. (255.60, 6.15%).

Downers:

Largecap and midcap losers today include Oberoi Realty Ltd. (886.70, -3.36%), Bharat Forge Ltd. (722.90, -2.57%) and Dalmia Bharat Ltd. (2073.80, -2.57%).

Movers and Shakers

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

Top high volume gainers on BSE included Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (498.90, 11.15%), Oil And Natural Gas Corporation Ltd. (163.65, 10.87%) and VRL Logistics Ltd. (394.35, 7.86%).

Top high volume losers on BSE were ICICI Lombard General Insurance Company Ltd. (1548.70, -1.78%), 3M India Ltd. (25254.55, -0.71%) and AIA Engineering Ltd. (1935.95, -0.24%).

Zydus Wellness Ltd. (2342.60, 1.16%) was trading at 13.2 times of weekly average. Kansai Nerolac Paints Ltd. (651.35, 3.05%) and Sudarshan Chemical Industries Ltd. (690.15, 4.94%) were trading with volumes 13.2 and 10.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

42 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (23184.50, 0.33%), Allcargo Logistics Ltd. (298.10, 1.53%) and Astral Ltd. (2365.35, 0.48%).

17 stocks climbed above their 200 day SMA including Ircon International Ltd. (47.50, 5.32%) and Garden Reach Shipbuilders & Engineers Ltd. (197.70, 3.53%).