25 Sep 2021
24 Sep 2021
Neogen Chemicals: Brokerages are positive about this specialty chemicals maker despite being in a market with many listed competitors. Three brokerages — ICICI Direct, HDFC Securities, and Edelweiss, gave the company a ‘Buy’ rating in recent reports. ICICI Direct expects the company’s capital expenditure to enhance capacity at its Dahej plant to generate revenue of Rs 350 crore by FY24. Even after the 33% price rise since the month began, the stock is trading 5.5% below the average broker target price.
Sundram Fasteners: The management of this auto-components maker expects the automobile market to recover strongly in Q3FY22. Arathi Krishna, the Managing Director of the company said that demand from automobile original equipment manufacturers is 80-85% of pre-Covid levels in Q2FY22. Even with the second wave disrupting economic activity in Q1FY22, the company’s revenues jumped nearly 3X YoY and declined by just 11% sequentially. The reason for this, according to brokerages, is its low sales to commercial vehicle makers (especially heavy commercial vehicles) which are 18% off pre-second wave levels.
Godrej Properties: Expecting a swift and steady revival in realty stocks, the Nifty Realty index gained nearly 30% in one month. This stock is leading the rally with a 42% gain in that time reaching a lifetime high. The developer registered sales of Rs 1,140 crore in the past six months from just one residential project in Noida. Over 50% of these sales came in one day. For the rest of FY22, the developer has a healthy pipeline of properties measuring 1.2 crore square ft. The market expects housing demand to remain robust in Q3FY22 especially with the festive season approaching.
Alkyl Amines Chemicals: This specialty chemicals’ Managing Director Yogesh Kothari is routinely selling shares as its stock price corrects. In September alone, he sold 7.5 lakh shares representing 1.4% of the company for Rs 30.7 crore across 14 insider trades. In Q2FY22 so far, he sold nearly 9 lakh shares for Rs 36.3 crore. Since reaching a lifetime high of Rs 4,622 per share in early July, the stock is down by 14%.
Vaibhav Global: This online retailer of fashion accessories and jewelry’s promoter is buying shares as the stock price declines. In September, its promoter (Brett Enterprises) holding a 55% stake, purchased over 3 lakh shares (0.18%) worth Rs 26.4 crore in seven insider trades. In FY22, the promoter has bought back over 12 lakh shares for Rs 56.7 crore in 17 insider trades. In that time, the stock price is down by 27%.
Trendlyne Marketwatch
24 Sep 2021
Nifty 50 closed at 17,853.20 (30.3, 0.2%) , BSE Sensex closed at 60,048.47 (163.1, 0.3%) while the broader Nifty 500 closed at 15,191.95 (-13.5, -0.1%)
Market breadth is in the red. Of the 1799 stocks traded today, 590 were on the uptrend, and 1158 went down.
Rashtriya Chemicals & Fertilizers, Chambal Fertilisers & Chemicals, Madras Fertilizers, and National Fertilizers trade higher as reports suggest the government will increase fertilizer subsidy by Rs 25,000 crore for FY22.
Happiest Minds Technologies, Ratnamani Metals & Tubes, SJVN, and Equitas Holdings are trading with higher delivery volumes compared to Thursday.
Ircon International is rising as the construction company wins orders worth Rs 2,400 crore to set up a 500 megawatt solar power plant.
IIFL Finance plans to raise Rs 1,000 crore through debt to meet credit requirements and enhance its digital presence.
ICICI Securities maintains a 'Buy' rating on CESC and a 'Reduce' rating on Torrent Power following Torrent Power's acquisition of CESC's 156 megawatt wind power plants for Rs 790 crore.
Dilip Buildcon, Ircon International, Indo Count Industries, and Rashtriya Chemicals & Fertilizers are trading with more than three times their weekly average trading volume.
GR Infraprojects wins an order worth Rs 927 crore from the National Highways Authority of India to develop a six lane highway in Punjab.
KPR Mill is rising as the shares of the textile company turn ex-date following its 5:1 stock split on September 24.
Axis Direct maintains a 'Buy' rating on Federal Bank with a 23% target price upside because of the company's focus on increasing credit card issuance, microfinance loans, and commercial vehicle financing.
IndusInd Bank acquires 50 lakh shares (4.8% stake) in McLeod Russel India by invoking the tea manufacturer's pledged shares.
TeamLease Services' promoter HR Offshoring Ventures sells 85,400 shares (0.5% stake) worth Rs 36.3 crore in an insider trade on Wednesday.
PVR is falling as CRISIL Ratings downgrades the company's debt rating to "A+" from "AA-." The rating agency expects PVR's business to be negatively impacted due to poor content pipeline and capacity restrictions in Maharashtra.
Sansera Engineering lists at Rs 811.5 per share, a 9% premium to the issue price of Rs 744 per share. The auto-components company's IPO was a complete offer for sale of Rs 1,293 crore.
Mining company Vedanta will delist its American Depository Receipts (ADRs) from the New York Stock Exchange. The company's ADRs constitute 4% of its equity.
Upbeat trading today, as Nifty 50 was trading at 17,909.95 (87, 0.5%) , BSE Sensex was trading at 60,182.86 (297.5, 0.5%) while the broader Nifty 500 was trading at 15,266.00 (60.6, 0.4%)
Market breadth is ticking up strongly. Of the 1710 stocks traded today, 1119 were gainers and 510 were losers.
Riding High:
Largecap and midcap gainers today include Indus Towers Ltd. (317.65, 13.83%), Oberoi Realty Ltd. (932.00, 10.00%) and Vodafone Idea Ltd. (11.50, 9.00%).
Downers:
Largecap and midcap losers today include Apollo Hospitals Enterprise Ltd. (4731.80, -6.93%), Dr. Lal Pathlabs Ltd. (3889.65, -3.72%) and SBI Cards and Payment Services Ltd. (1011.20, -3.60%).
Volume Shockers
23 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Indus Towers Ltd. (317.65, 13.83%), Rashtriya Chemicals & Fertilizers Ltd. (82.50, 11.26%) and Chambal Fertilisers & Chemicals Ltd. (341.15, 11.23%).
Top high volume losers on BSE were Apollo Hospitals Enterprise Ltd. (4731.80, -6.93%), Shilpa Medicare Ltd. (559.25, -2.03%) and Bayer Cropscience Ltd. (5354.70, -0.93%).
Dilip Buildcon Ltd. (572.15, 3.27%) was trading at 6.5 times of weekly average. Cera Sanitaryware Ltd. (4990.40, 8.78%) and Kajaria Ceramics Ltd. (1242.15, 6.44%) were trading with volumes 6.3 and 6.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
48 stocks made 52 week highs,
Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (4731.80, -6.93%), Asian Paints Ltd. (3448.60, 3.85%) and Bajaj Finserv Ltd. (18526.00, 0.12%).
10 stocks climbed above their 200 day SMA including Dilip Buildcon Ltd. (572.15, 3.27%) and Ircon International Ltd. (45.80, 2.81%). 10 stocks slipped below their 200 SMA including Housing and Urban Development Corporation Ltd. (44.70, -3.66%) and Jindal Steel & Power Ltd. (359.15, -3.23%).
24 Sep 2021
Trendlyne Marketwatch
23 Sep 2021
Markets closed higher. Nifty 50 closed at 17,822.95 (276.3, 1.6%) , BSE Sensex closed at 59,885.36 (958.0, 1.6%) while the broader Nifty 500 closed at 15,205.45 (214.9, 1.4%)
Market breadth is in the green. Of the 1788 stocks traded today, 1073 were gainers and 652 were losers.
eClerx Services, Heidelberg Cement India, TeamLease Services, and Kansai Nerolac Paints are trading with higher delivery volumes compared to Wednesday.
Axis Direct maintains a 'Hold' rating on Abbott India with a target price at a 2.5% downside expecting its strong presence in the branded generics market to remain robust in FY22.
Jindal Steel and Power wins a mining lease for the Kasia iron ore mine with a reserve of 278 million tonnes from the Odisha government.
JBM Auto is rising as the auto components maker receives an order to supply parts for 500 CNG and electric buses from municipal bodies in Delhi, Bangalore, and Uttar Pradesh.
Hemisphere Properties India, Welspun India, Raymond, and DLF are trading with more than three times their weekly average trading volume.
Nifty Realty is trading higher led by gains in Godrej Properties, DLF, Oberoi Realty, and Phoenix Mills.
Bharti Airtel's rights issue worth Rs 21,000 crore will open on October 5 and close on October 21 at an issue price of Rs 535 per share.
Edelweiss maintains a 'Buy' on Tech Mahindra with a 14% target price upside as the IT services company's R&D lab (Makers Lab) has applied for a Covid-19 treatment drug patent. The management expects Makers Lab to generate revenues of over Rs 7,000 crore in the coming years.
Sundaram Fasteners' Managing Director Arathi Krishna expects demand for auto-components to revive in Q3FY22 due to a recovery in domestic automobile sales.
Bank of India plans to raise Rs 1,800 crore in debt to meet regulatory requirements and fuel business growth. In August, the public bank raised Rs 2,550 crore by issuing equity to institutional investors.
Tejas Networks is rising as its partners with Bharti Airtel to expand the telecommunications company's 5G, broadband, and B2B services network in metro cities.
Jubilant Ingrevia's wholly owned subsidiary Jubilant Life Sciences divests its entire 10% stake in Safe Foods Corporation for Rs 134 crore.
IDFC's shareholders reject the decision to re-appoint Vinod Rai as a non-independent and non-executive director to the company's board.
The market opened on an upbeat note. Nifty 50 was trading at 17,689.30 (142.7, 0.8%) , BSE Sensex was trading at 59,383.02 (455.7, 0.8%) while the broader Nifty 500 was trading at 15,119.30 (128.8, 0.9%)
Market breadth is surging up. Of the 1698 stocks traded today, 1465 were on the uptick, and 176 were down.
Riding High:
Largecap and midcap gainers today include Oberoi Realty Ltd. (847.30, 12.87%), Godrej Properties Ltd. (2199.30, 12.72%) and DLF Ltd. (401.85, 8.89%).
Downers:
Largecap and midcap losers today include Zee Entertainment Enterprises Ltd. (318.20, -5.52%), ICICI Lombard General Insurance Company Ltd. (1576.75, -3.13%) and Endurance Technologies Ltd. (1562.40, -2.41%).
Crowd Puller Stocks
18 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Welspun India Ltd. (157.80, 13.36%), Oberoi Realty Ltd. (847.30, 12.87%) and Godrej Properties Ltd. (2199.30, 12.72%).
Top high volume loser on BSE was AIA Engineering Ltd. (2006.85, -0.94%).
Blue Star Ltd. (850.40, 0.05%) was trading at 28.4 times of weekly average. KRBL Ltd. (290.10, 6.36%) and Housing and Urban Development Corporation Ltd. (46.40, 7.04%) were trading with volumes 8.7 and 7.9 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
55 stocks made 52 week highs,
Stocks touching their year highs included - Allcargo Logistics Ltd. (257.60, -2.00%), Apollo Hospitals Enterprise Ltd. (5084.20, 3.66%) and Bajaj Finance Ltd. (7899.05, 1.35%).
21 stocks climbed above their 200 day SMA including Housing and Urban Development Corporation Ltd. (46.40, 7.04%) and Dilip Buildcon Ltd. (554.05, 6.76%). 2 stocks slipped below their 200 SMA including Coromandel International Ltd. (806.15, -1.54%) and Spicejet Ltd. (77.85, -0.45%).
23 Sep 2021
September so far, has been a month of acquisitions. Firms across sectors are buying up businesses to boost their offerings.
It started with HDFC Life Insurance Company's Rs 6,687 crore acquisition of Exide Life Insurance Company (on September 3). Last week, two and three-wheeler maker TVS Motor Company acquired an 80% stake in Switzerland-based electric bike company EGO Movement to enter the European e-bike market. Rakesh Jhunjhunwala backed Nazara Technologies announced its third acquisition since its listing in March 2021 - the gaming company's esports business Nodwin Gaming acquired OML Entertainment's live events, gaming, and intellectual property verticals for Rs 73 crore on September 18.
This week, KEC International, KPIT Technologies, and Mphasis also announced acquisitions.
Trendlyne Marketwatch
21 Sep 2021
Upbeat trading today. Nifty 50 closed at 17,562.00 (165.1, 1.0%) , BSE Sensex closed at 59,005.27 (514.3, 0.9%) while the broader Nifty 500 closed at 14,946.30 (119.6, 0.8%)
Market breadth is in the red. Of the 1793 stocks traded today, 810 were on the uptick, and 924 were down.
Gujarat Fluorochemicals, PNC Infratech, Rossari Biotech, and SBI Cards and Payment Services are trading with higher delivery volumes compared to Monday.
Tata Motors will raise commercial vehicle prices by around 2% from October 1 because of rising input costs.
Axis Securities maintains a 'Buy' rating on Camlin Fine Sciences with a 21% target price upside due to its high share of exports (87% of revenue) and planned capacity expansion in FY22.
Paras Defence and Space Technologies' Rs 170.8 crore IPO is subscribed by 5 times of the shares on offer with the retail portion receiving bids for 10 times the available quota on day 1 of the bidding process.
SpiceJet's shareholders approve the transfer of the airline operator's logistics business to SpiceXpress and Logistics for Rs 2,555 crore.
SBI Cards and Payment Services is trading in the red with more than 32 times its weekly average trading volume. Godrej Properties, KEC International, and Inox Leisure are trading with more than three times their weekly average trading volume.
HDFC Bank's head of retail assets Arvind Kapil said the private lender aims to double its retail loan book in FY22. At the end of Q1FY22, the bank's retail loan book was Rs 3.7 lakh crore, 32% of disbursed loans.
Kitex Garments signs a memorandum of understanding with the Telangana State Government to invest Rs 2,400 crore for two industrial projects in the state.
Rakesh Jhunjhunwala sells nearly 1 lakh shares (0.44% stake) in The Mandhana Retail Ventures in an open market transaction on Monday.
Adani Ports & Special Economic Zone receives approval from the Competition Commission of India (CCI) for its acquisition of a 10.4% stake in the Gangavaram Port.
HDFC Securities initiates coverage on newly listed cement maker Nuvoco Vistas Corporation with a 'Buy' rating and a 53% target price upside due to its leadership position in eastern states and its expansion into Karnataka.
Paras Defence and Space Technologies raises Rs 51 crore from five anchor investors at Rs 175 per share ahead of its Rs 170.8 crore IPO.
Reports suggest that the private equity firm Carlyle Group will sell nearly 3.2 crore shares (3.4% stake) in SBI Cards and Payment Services for Rs 3,267 crore.
Nifty 50 was trading at 17,454.20 (57.3, 0.3%) , BSE Sensex was trading at 58,649.01 (158.1, 0.3%) while the broader Nifty 500 was trading at 14,850.70 (24.0, 0.2%)
Market breadth is in the red. Of the 1701 stocks traded today, 667 were on the uptrend, and 947 went down.
Riding High:
Largecap and midcap gainers today include Oil India Ltd. (208.90, 7.05%), IDBI Bank Ltd. (39.15, 5.95%) and JSW Steel Ltd. (668.95, 5.65%).
Downers:
Largecap and midcap losers today include Adani Transmission Ltd. (1642.90, -5.00%), The New India Assurance Company Ltd. (163.60, -3.40%) and Dalmia Bharat Ltd. (2157.05, -2.90%).
Movers and Shakers
11 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Brigade Enterprises Ltd. (401.20, 9.24%), Himadri Speciality Chemical Ltd. (53.00, 9.17%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (383.00, 7.81%).
Top high volume loser on BSE was SBI Cards and Payment Services Ltd. (1069.90, -0.22%).
Varun Beverages Ltd. (918.30, 4.79%) was trading at 7.3 times of weekly average. Godrej Properties Ltd. (1723.65, 4.78%) and Prestige Estates Projects Ltd. (418.85, 5.80%) were trading with volumes 6.5 and 5.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
15 stocks overperformed with 52 week highs,
Stocks touching their year highs included - Allcargo Logistics Ltd. (255.20, 4.46%), Bajaj Finance Ltd. (7813.85, 4.99%) and Bajaj Finserv Ltd. (17587.25, 3.34%).
5 stocks climbed above their 200 day SMA including Jindal Steel & Power Ltd. (361.60, 2.99%) and Gujarat Pipavav Port Ltd. (101.95, 2.05%). 18 stocks slipped below their 200 SMA including Indiabulls Housing Finance Ltd. (208.45, -3.32%) and Balmer Lawrie & Company Ltd. (129.65, -2.34%).
Trendlyne Marketwatch
20 Sep 2021
Indian markets slumped today. Nifty 50 closed at 17,396.90 (-188.3, -1.1%) , BSE Sensex closed at 58,490.93 (-525.0, -0.9%) while the broader Nifty 500 closed at 14,826.75 (-200.5, -1.3%)
Market breadth is overwhelmingly negative. Of the 1818 stocks traded today, 356 were gainers and 1424 were losers.
Shriram City Union Finance, Phoenix Mills, Kansai Nerolac Paints, and WABCO India are trading with higher delivery volumes compared to Friday.
Kotak Mahindra Bank will purchase 1.6 crore shares (9.9% stake) in KFin Technologies (formerly Karvy Fintech) for Rs 310 crore. The acquisition will be completed by the end of October.
Indian Hotels Company, Gujarat Narmada Valley Fertilizers & Chemicals, Lemon Tree Hotels, and Rail Vikas Nigam are trading with more than five times their average weekly trading volume.
KEC International will acquire a 100% stake in Spur Infrastructure, and engineering, procurement, and construction in the oil and gas sector, for Rs 62 crore.
Larsen & Toubro's wholly owned subsidiary L&T Hydrocarbon Engineering wins an order worth Rs 1,000-2,000 crore from Petronet LNG to build two LNG storage in Gujarat.
Indian Hotels Company, EIH, Chalet Hotels, and Taj GVK Hotels & Resorts are rising due to a pick up in travel as the economy opens up. In August 2021, domestic air traffic improved by 33% MoM to 67 lakh passengers.
SpiceJet is rising as the airline operator receives Rs 300 crore as a lease rental waiver for four of its Boeing 737 Max airplanes.
Private equity firm Advent International will acquire a 72.5% stake in Forbes & Company's wholly owned subsidiary Eureka Forbes for Rs 4,400 crore. Eureka Forbes will demerge from Forbes & Company and list on exchanges.
Eicher Motors is falling as reports suggest as the company's Chief Commercial Officer Lalit Malik and Global Marketing Head Shubranshu Singh are set to leave the company.
Blackrock Group buys over 3 lakh shares (0.03%) in Zee Entertainment Enterprises in an open market transaction on Wednesday. Last week, Rakesh Jhunjhunwala's Rare Enterprises and Bank of America Securities bought 50 lakh and 48.6 lakh shares in the company, respectively.
ICICI Securities maintains a 'Buy' rating on Sunteck Realty and increases its target price upside by 22% following the realty company announcing its upcoming 1 crore square ft residential project in Shahad located within the Mumbai Metropolitan Region (MMR).
Nazara Technologies' esports subsidiary Nodwin Gaming acquires OML Entertainment's gaming and live events business for Rs 73 crore.
DishTV India's board of directors approve an application to postpone its annual general meeting from the original date of September 27. Last week, the company's institutional investor Yes Bank submitted a notice to remove five directors from DishTV India's board.
Nifty 50 was trading at 17,507.30 (-77.9, -0.4%) , BSE Sensex was trading at 58,877.12 (-138.8, -0.2%) while the broader Nifty 500 was trading at 14,944.20 (-83.1, -0.6%)
Market breadth is overwhelmingly negative. Of the 1745 stocks traded today, 506 showed gains, and 1160 showed losses.
Riding High:
Largecap and midcap gainers today include Indian Hotels Company Ltd. (161.05, 8.05%), GMR Infrastructure Ltd. (34.05, 7.92%) and Hindustan Unilever Ltd. (2800.35, 2.87%).
Downers:
Largecap and midcap losers today include Tata Steel Ltd. (1253.10, -9.58%), Jindal Steel & Power Ltd. (351.10, -9.18%) and Steel Authority of India (SAIL) Ltd. (105.80, -8.12%).
Movers and Shakers
16 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Indian Hotels Company Ltd. (161.05, 8.05%), GMR Infrastructure Ltd. (34.05, 7.92%) and Timken India Ltd. (1803.25, 7.16%).
Top high volume losers on BSE were Tata Steel Ltd. (1253.10, -9.58%) and Lemon Tree Hotels Ltd. (39.30, -2.48%).
EIH Ltd. (110.80, 3.12%) was trading at 8.3 times of weekly average. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (355.25, 6.25%) and Chalet Hotels Ltd. (183.50, 1.89%) were trading with volumes 8.2 and 7.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
23 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Allcargo Logistics Ltd. (244.30, 2.00%), Dabur India Ltd. (645.65, -1.27%) and Escorts Ltd. (1439.45, -0.90%).
6 stocks climbed above their 200 day SMA including EPL Ltd. (245.90, 3.23%) and Whirlpool of India Ltd. (2289.90, 1.91%). 21 stocks slipped below their 200 SMA including Jindal Steel & Power Ltd. (351.10, -9.18%) and NMDC Ltd. (136.00, -7.73%).
20 Sep 2021
Despite the runup in the market, some companies are still in the PE buy zone - trading below their average historical PEs. We took a look at five stocks that are in this PE buy range, and also have a high Durability Score. You can see the Buy Zone screener tracking historical PE for the full list.
Security and Intelligence Services (SIS): This security services company has traded below its current PE only 9% of its total trading days. The company has gained 29% over the last year, not a significant runup. It has a durability score of 80, with positive net profit and revenue growth YoY in its most recent quarter.
Sharda Cropchem: This agrochem business has got some investor attention in recent weeks, with the Momentum Score moving into the green. However the stock has traded below its current PE only 14% of its trading days. This is a low volatility stock that tends to maintain its gains for periods of time when it moves up, since rural demand patterns tend to be less volatile than other sectors.
Coal India: This coal and energy company has seen a recent upswing in its share price, with its Momentum Score back in the green and rising 11% over the past month. At its current PE, it has traded below this level for 25% of its trading days. The company delivered a strong performance in August, with resilient volumes despite a weak month, reduction in dues from state power generators and good E-auction revenues according to analysts.
Castrol India: This oil lubricant stock is another potentially underpriced company in PE compared to historical levels. Even as its share price has picked up in recent weeks, it trades below current PE levels for just 15% of its trading days. While it may look like a good pickup at its current levels, risks remain - the drag in the auto sector due to supply constraints however, remains a key negative for companies like Castrol.
Edelweiss Financial Services: Financial services have been on the upswing during the lockdown, although Edelweiss' stock was an underperformer, especially relative to the Nifty index. The company jumped back into the green in net profit numbers only in the last two quarters. It has traded below its current PE for just 20% of total trading days.
17 Sep 2021