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Trendlyne Marketwatch
17 Sep 2021
Market closes lower, CESC rises post stock split

Nifty 50 closed at 17,585.15 (-44.4, -0.3%) , BSE Sensex closed at 59,015.89 (-125.3, -0.2%) while the broader Nifty 500 closed at 15,027.25 (-77.7, -0.5%)

Market breadth is highly negative. Of the 1789 stocks traded today, 457 were in the positive territory and 1278 were negative.

  • Adani Transmission, Adani Total Gas, Tanla Platforms, and Mahindra Logistics are trading with higher delivery volumes compared to Thursday.

  • CESC is trading higher after its stock split comes into effect. The power utility company's board of directors fixed September 17 as the record day for its stock split in a 1:10 ratio.

  • Bajaj Holdings & Investment is trading in the green with more than 25 times its weekly average trading volume. Karur Vysya Bank, Adani Transmission, and Biocon are trading with more than five times their weekly average trading volume.

  • Kotak Mahindra Bank acquires Volkswagen Finance, the German automobile maker's vehicle financing business for an undisclosed amount. Volkswagen Finance's outstanding loan book is worth Rs 1,340 crore.

  • Bharti Airtel is rising as the telecom company raises the price of its pre-paid and home broadband connections due to the pricing change of the OTT platform Disney+Hotstar.

  • Sudarshan Chemical Industries' promoters sell 5.6 lakh shares (0.8% stake) worth Rs 37.4 crore in two insider trades on Wednesday.

  • TVS Motor Company purchases an 80% stake in EGO Movement, a Swiss electric bicycle maker, for Rs 132 crore through its Singapore subsidiary.

  • Hindustan Copper's offer for sale is subscribed by 1.4 times the shares on offer with institutional investors placing bids worth Rs 700 crore.

  • ITC hits a 52 week high and is trading with high volume. The conglomerate's stock is up by 10% this week, the second highest gain among Nifty50 companies this week.

  • Axis Securities maintains a 'Buy' rating on MindTree with a target price upside of 12% based on the management's guidance of double digit growth in FY22 expecting large deal wins.

  • Biocon's subsidiary Biocon Biologics will sell a 15% stake to Serum Institute Life Sciences, a subsidiary of Serum Institute of India, for $4.9 billion (Rs 36,000 crore).

  • Hero MotoCorp will raise the ex-showroom prices of its motorcycles and scooters due to rising input prices from September 20. The price hike will be capped at Rs 3,000 depending on the range of the two-wheelers.

  • The market opened on an upbeat note. Nifty 50 was trading at 17,734.70 (105.2, 0.6%) , BSE Sensex was trading at 59,441.85 (300.7, 0.5%) while the broader Nifty 500 was trading at 15,165.85 (61.0, 0.4%)

  • Market breadth is in the green. Of the 1,713 stocks traded today, 932 were gainers and 692 were losers.

Riding High:

Largecap and midcap gainers today include InterGlobe Aviation Ltd. (2196.05, 10.92%), Kotak Mahindra Bank Ltd. (2007.95, 5.30%) and JSW Energy Ltd. (323.45, 3.89%).

Downers:

Largecap and midcap losers today include IDBI Bank Ltd. (39.15, -7.12%), Tata Motors Limited (DVR) (146.55, -6.66%) and Oil India Ltd. (199.80, -5.53%).

Volume Shockers

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

Top high volume gainers on BSE included InterGlobe Aviation Ltd. (2196.05, 10.92%), IFCI Ltd. (12.75, 6.69%) and DCM Shriram Ltd. (1036.80, 6.00%).

Top high volume losers on BSE were Rajesh Exports Ltd. (581.65, -5.23%), Adani Transmission Ltd. (1820.35, -5.00%) and Aster DM Healthcare Ltd. (216.35, -4.80%).

Bajaj Holdings & Investment Ltd. (4398.85, 1.84%) was trading at 39.7 times of weekly average. KSB Ltd. (1244.60, 3.61%) and India Tourism Development Corporation Ltd. (407.75, 5.38%) were trading with volumes 27.9 and 26.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

39 stocks made 52 week highs,

Stocks touching their year highs included - Axis Bank Ltd. (807.35, 0.59%), Bajaj Electricals Ltd. (1490.80, 3.33%) and Bajaj Finance Ltd. (7428.80, 0.23%).

13 stocks climbed above their 200 day SMA including Himadri Speciality Chemical Ltd. (50.05, 5.59%) and Spicejet Ltd. (78.55, 3.42%). 13 stocks slipped below their 200 SMA including Infibeam Avenues Ltd. (42.15, -5.81%) and Aditya Birla Capital Ltd. (109.40, -4.79%).

 
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The Baseline
17 Sep 2021
Five Interesting Stocks Today

  1. Mindtree: This IT services company’s stock is the most overbought stock among Nifty 500 companies based on technical indicators like RSI and MFI. Over the past 18 months, this stock rose 5.7 times from the lows of March 2020 and is touching new 52-week highs regularly (including on Thursday). Investors only need to look at the company’s average broker one-year target price of Rs 2,440 to get a sense of how much the stock has run up over the past many months.

  2. Cipla: This pharmaceutical company’s promoter group-controlled entities sold a stake (0.73% stake) in the company in the open market for the first time in two years. This comes a couple of months after the stock touched a 52-week high of Rs 997, which is also incidentally its lifetime high. Like other pharmaceutical companies, Cipla also gained from the pandemic and reported revenues above Rs 5,000 crore in three out of the past four quarters. The only time quarterly revenues dipped below Rs 5,000 crore in the past four quarters was in Q4FY21, as a result of which its net profit dipped below Rs 500 crore. Analysts are upbeat about the company’s prospects as can be seen in the average target price of Rs 1,063.5.

  3. Home First Finance: Home First Finance, a technology-based financing company for affordable housing, listed in stock markets earlier this year, and has continued to trade above its issue price post IPO. The company recently received a buy call from Edelweiss with a price target of Rs. 763, an upside of 35%. It delivered a robust 49% AUM CAGR over FY17-FY21 despite FY21 being impacted by the Covid-19 pandemic. 

  4. Vodafone Idea: This beleaguered telecom company’s stock is one of the best performing stocks over the past week among Nifty 500 companies, rising 34%, with 25% gains coming on Thursday. These gains come after the Union Cabinet approved a rescue plan for the telecom sector which would ease its cash flows over the next four years. The relief entails moratorium on all dues, including spectrum, spectrum usage charges, and annual gross revenues based levies, and also rationalisation of various levies. This move will enable the company to survive impending doom and help the Indian telecom industry to continue to have three private players.

  5. Poonawalla Fincorp: This non-banking finance company’s Managing Director Abhay Bhutada was banned by the market regulator SEBI from accessing capital markets for a year due to a violation of its insider trading regulations. This relates to trades executed by entities related to Bhutada in the company (previously known as Magma Fincorp) before the announcement of its acquisition by Rising Sun Holdings, controlled by Adar Poonawalla. SEBI held that entities controlled by Bhutada, and seven others, traded in Magma Fincorp’s shares before the disclosure of Rising Sun Holdings acquisition of a majority stake in the company. Bhutada resigned as managing director of the NBFC on Thursday evening.

 
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Trendlyne Marketwatch
16 Sep 2021
Market closes higher, Yes Bank raises concern on DishTV's investment in Watcho

Markets rose in today's trading. Nifty 50 closed at 17,629.50 (110.1, 0.6%) , BSE Sensex closed at 59,141.16 (418.0, 0.7%) while the broader Nifty 500 closed at 15,104.90 (84.4, 0.6%)

Market breadth is in the red. Of the 1795 stocks traded today, 798 were gainers and 940 were losers.

  • Easy Trip Planners is trading higher as the online travel company incorporates subsidiaries with operations in Thailand, Philippines, and the United States of America.

  • Sundaram Clayton, Shriram City Union Finance, Akzo Nobel India, and GlaxoSmithKline Pharmaceuticals are trading with higher delivery volumes compared to Wednesday.

  • ICICI Direct maintains a 'Buy' rating on Minda Corporation with a 25% target price upside expecting growth prospects between FY22-23 as the company is working with electric vehicle makers like Ola Electric.

  • Sansera Engineering's Rs 1,283 crore IPO is subscribed by 4.2 times of the shares on offer with the retail portion receiving bids for 2.5 times the available quota of shares on the final day of the bidding process.

  • Yes Bank raises concern about Dish TV India's Rs 1,378 crore investment in the OTT platform Watcho. Earlier this week, the bank issued a notice to the DTH company to remove five directors including founder Ashok Kurien.

  • IIFL Finance is trading in the red with more than 28 times its weekly average trading volume. Godfrey Phillips India, Supreme Industries, and Bosch are trading with more than five times their weekly average trading volume.

  • Nifty PSU Bank is rising with strong gains in Punjab & Sind Bank, Punjab National Bank, Indian Overseas Bank, and Union Bank of India.

  • Reports suggest Tata Sons and SpiceJet officially submit bids for the sale of Air India on Wednesday. As of July 2021, Air India's market share was 13.3% based on domestic passengers carried.

  • Aurobindo Pharma's promoter pledges 10 lakh shares (0.17% stake) worth Rs 73.6 crore on Monday. At the end of Q1FY22, 20.6% of promoters' shareholding was pledged.

  • Sunteck Realty enters into an agreement with Amar Dye Chem to develop a 50-acre land estimated at a property size of 1 crore sq ft in Kalyan near Mumbai.

  • Gabriel India is rising as reports suggest HDFC Asset Management Company increases its stake in the company to 7.04% from 5.02%.

  • Edelweiss initiates coverage on Globus Spirits with a 'Buy' rating signaling a target price upside of 22% expecting the government to increase prices of grain based ethanol which could add to the company's earnings.

  • STEL Holdings buys 1.8 lakh shares of RPSG Ventures for Rs 18 crore in a bulk deal on Wednesday.

  • Vodafone Idea is rising as the Union Cabinet announces a moratorium of four years for the payment of adjusted gross revenue (AGR) dues.

  • The government of India will sell 4.8 crore shares (5% stake) in Hindustan Copper at a floor price of Rs 116 per share in an offer for sale on Thursday and Friday.

  • Nifty 50 was trading at 17,559.55 (40.1, 0.2%) , BSE Sensex was trading at 58,881.54 (158.3, 0.3%) while the broader Nifty 500 was trading at 15,065.45 (44.9, 0.3%)

  • Market breadth is ticking up strongly. Of the 1,708 stocks traded today, 1,204 were gainers and 446 were losers.

Riding High:

Largecap and midcap gainers today include Vodafone Idea Ltd. (11.25, 25.70%), Indian Overseas Bank (22.75, 12.62%) and Indus Towers Ltd. (269.35, 10.14%).

Downers:

Largecap and midcap losers today include Bharat Petroleum Corporation Ltd. (439.05, -10.39%), Zee Entertainment Enterprises Ltd. (247.15, -3.42%) and REC Ltd. (156.30, -3.10%).

Movers and Shakers

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

Top high volume gainers on BSE included Vodafone Idea Ltd. (11.25, 25.70%), Indian Overseas Bank (22.75, 12.62%) and Indus Towers Ltd. (269.35, 10.14%).

Top high volume losers on BSE were IIFL Finance Ltd. (295.20, -4.68%), Lupin Ltd. (968.10, -2.15%) and Sanofi India Ltd. (8049.45, -0.85%).

CSB Bank Ltd. (316.85, 4.69%) was trading at 16.7 times of weekly average. Godfrey Phillips India Ltd. (1050.70, 4.60%) and Gateway Distriparks Ltd. (258.00, 1.67%) were trading with volumes 14.1 and 13.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

51 stocks hit their 52 week highs,

Stocks touching their year highs included - Allcargo Logistics Ltd. (245.75, 2.44%), Bajaj Electricals Ltd. (1442.70, 1.81%) and Bata India Ltd. (1804.80, -1.80%).

12 stocks climbed above their 200 day SMA including Vodafone Idea Ltd. (11.25, 25.70%) and Punjab National Bank (41.80, 7.87%). 10 stocks slipped below their 200 SMA including Hindustan Copper Ltd. (116.95, -6.14%) and Bajaj Consumer Care Ltd. (255.75, -1.99%).

 
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The Baseline
16 Sep 2021
Chart of the week: HDFC Life and ICICI Prudential’s rising market share

As the Life Insurance Corporation of India's (LIC) IPO looks to hit markets in FY22, all eyes are on life insurers. And for India's listed private life insurance companies, market share is changing fast.

The market share (based on first year premiums) of the largest private life insurance company - SBI Life Insurance Company (a joint venture between the State Bank of India and BNP Paribas Cardif) fell to 8% in August 2021 from 8.8% in January 2021. In that time, HDFC Life Insurance Company's market share improved to 6.4% from 5.8% while ICICI Prudential Life Insurance Company's market share improved to 4.6% from 0.4%. LIC of India commanded a 68% share of the life insurance market as of August up from 61.5% in January 2021.

 
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Trendlyne Marketwatch
15 Sep 2021
Markets close higher, Sansera Engineering's Rs 1,283 crore IPO subscribed by 78% on day 2

Upbeat trading today. Nifty 50 closed at 17,519.45 (139.5, 0.8%) , BSE Sensex closed at 58,723.20 (476.1, 0.8%) while the broader Nifty 500 closed at 15,020.55 (116.2, 0.8%)

Market breadth is in the green. Of the 1,798 stocks traded today, 1,113 were on the uptrend, and 637 went down.

  • Kajaria Ceramics, JK Cement, Dish TV India, and Supreme Petrochem are trading with higher delivery volumes compared to Tuesday.

  • Hindustan Unilever receives a 'Buy' rating from Axis Securities with a target price at an 11% upside expecting the FMCG company to capitalize on higher disposable income and rising internet users in rural areas.

  • Sansera Engineering's Rs 1,283 crore IPO is subscribed by 78% of the shares on offer with the retail portion receiving bids for 1.4 times the available quota of shares on day two of the bidding process so far.

  • Rossari Biotech is trading in the green with more than 12 times its weekly average trading volume. Jamna Auto Industries, JTEKT India, and Wockhardt are trading with more than five times their weekly average trading volume.

  • Wipro's promoter Tariq Azim Premji buys 9.1 lakh shares worth Rs 60.7 crore in an insider trade on Monday.

  • Oil And Natural Gas Corporation hits a 52-week high as crude oil prices rose following an expected decline in the United States' oil production due to supply chain problems caused by Hurricane Ida.

  • Nifty IT is trading in the green, pulled higher by gains in MindTree, Mphasis, HCL Technologies, and Larsen & Toubro Infotech.

  • Axis Securities initiates coverage on ICICI Securities with a 'Buy' rating and a target price at an upside of 22% because of the brokerage's strong position in the market despite competition from discount brokers.

  • Life Insurance Corporation of India's (LIC) stake in LIC Housing Finance increased to 45.3% from 40.3% after the preferential allotment. Earlier this week, LIC Housing Finance issued 4.5 crore equity shares to LIC for Rs 2,335 crore.

  • Shree Cements' board of directors approve a Rs 4,750 capital expenditure plan in Rajasthan and West Bengal. The cement maker will invest Rs 3,500 crore to build an integrated cement plant, Rs 750 crore for a clinker grinding unit, and Rs 500 crore for solar power plants.

  • Acacia Conservation Fund sells 3.6 lakh shares of Esab India for Rs 80.7 crore in a bulk deal on Wednesday.

  • Power Finance Corporation's institutional investor UBS Group increases its stake in the company to 5.6% from 3.4% through a rights issue.

  • Rakesh Jhunjhunwala's Rare Enterprises and Bank of America Securities buy 50 lakh and 48.6 lakh shares of Zee Entertainment Enterprises in bulk deals on Tuesday.

  • Nifty 50 was trading at 17,415.60 (35.6, 0.2%) , BSE Sensex was trading at 58,370.23 (123.1, 0.2%) while the broader Nifty 500 was trading at 14m947.20 (42.9, 0.3%)

  • Market breadth is ticking up strongly. Of the 1m716 stocks traded today, 1,316 were in the positive territory and 347 were negative.

Riding High:

Largecap and midcap gainers today include Tata Motors Limited (DVR) (161.50, 12.82%), GMR Infrastructure Ltd. (32.30, 7.67%) and NTPC Ltd. (124.20, 7.16%).

Downers:

Largecap and midcap losers today include Zee Entertainment Enterprises Ltd. (255.90, -2.16%), Adani Green Energy Ltd. (1126.95, -1.95%) and Abbott India Ltd. (21124.30, -1.54%).

Volume Rockets

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

Top high volume gainers on BSE included Varroc Engineering Ltd. (313.05, 19.99%), Zensar Technologies Ltd. (579.30, 18.92%) and Tata Motors Limited (DVR) (161.50, 12.82%).

Top high volume losers on BSE were V-Guard Industries Ltd. (252.85, -2.37%), Zee Entertainment Enterprises Ltd. (255.90, -2.16%) and Ipca Laboratories Ltd. (2627.85, -0.37%).

Rossari Biotech Ltd. (1547.75, 8.81%) was trading at 25.3 times of weekly average. Jamna Auto Industries Ltd. (91.00, 6.25%) and Hawkins Cookers Ltd. (6350.00, 2.32%) were trading with volumes 10.9 and 9.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

52 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Adani Transmission Ltd. (1944.05, 0.07%), Atul Ltd. (9739.70, -1.12%) and Bajaj Electricals Ltd. (1417.05, 2.61%).

13 stocks climbed above their 200 day SMA including IFB Industries Ltd. (1168.70, 8.63%) and NLC India Ltd. (55.80, 3.91%). 4 stocks slipped below their 200 SMA including Swan Energy Ltd. (134.00, -2.30%) and Cochin Shipyard Ltd. (370.45, -1.24%).

 
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Trendlyne Marketwatch
14 Sep 2021
Markets close higher, Sansera Engineering's IPO is 35% subscribed on day 1

Nifty 50 closed at 17380.00 (24.7, 0.1%) , BSE Sensex closed at 58247.09 (69.3, 0.1%) while the broader Nifty 500 closed at 14904.35 (52.2, 0.4%)

Market breadth is in the green. Of the 1784 stocks traded today, 1034 were on the uptick, and 699 were down.

  • SIS, Thermax, Gujarat Fluorochemicals, and Crompton Greaves Consumer Electricals are trading with higher delivery volumes compared to Monday.

  • Sequent Scientific's promoters sell over 74,000 shares worth Rs 1.7 crore in an insider trade on Monday. In Q2FY22 so far, promoters have sold 2.1 lakh shares worth over Rs 5 crore in three insider trades.

  • Zee Entertainment Enterprises is trading in the green with more than 18 times its weekly average trading volume. Narayana Hrudayalaya, eClerx Services, and TV18 Broadcast are trading with more than six times their weekly average trading volume.

  • Sansera Engineering's Rs 1,283 crore IPO is subscribed by 35% of the shares on offer on day one of the bidding process.

  • HDFC Securities initiates coverage on APL Apollo Tubes with a 'Buy' rating and a target price at an upside of 18% due to the company's 50% share in the steel tubes market and its pan-India distribution network.

  • MTAR Technologies wins an order worth $30 million (Rs 220 crore) from Bloom Energy, a US based clean energy company.

  • DCM Shriram's board of directors approve a proposal to buy 17.3 lakh shares of PVC compounds maker Shriram Axiall, a joint venture between DCM Shriram and Axiall LLC. Following the purchase, Shriram Axiall will become DCM Shriram's wholly owned subsidiary.

  • Dish TV India is rising as the Hindustan Times buys 2 crore shares in the company for Rs 38.4 crore in a bulk deal on Monday.

  • KNR Constructions receives a letter of acceptance for a road widening project in Telangana worth Rs 312.8 crore.

  • Vijaya Diagnostic Center lists at Rs 541 per share, a 2% premium to the issue price of Rs 531 per share. The diagnostic chain's IPO was a complete offer for sale of Rs 1,895 crore.

  • Zee Entertainment Enterprises is rising as its institutional investors holding a collective 17.8% stake in the company call for a special shareholders' meeting to remove Punit Goenka as the company's director.

  • Ami Organics lists at Rs 910 per share, a 50% premium to the issue price of Rs 610 per share. The specialty chemicals maker's IPO comprised of a fresh issue of Rs 200 crore and an offer for sale of Rs 369 crore.

  • Infosys completes the buyback of 5.5 crore equity shares worth Rs 9,200 crore. The shares were purchased at an average price of Rs 1,648 per share.

  • Nifty 50 was trading at 17,418.00 (62.7, 0.4%) , BSE Sensex was trading at 58,391.89 (214.1, 0.4%) while the broader Nifty 500 was trading at 14,919.50 (67.3, 0.5%)

  • Market breadth is surging up. Of the 1,691 stocks traded today, 1315 were on the uptick, and 324 were down.

Riding High:

Largecap and midcap gainers today include Zee Entertainment Enterprises Ltd. (261.55, 39.98%), Vodafone Idea Ltd. (8.70, 9.43%) and Indian Railway Catering & Tourism Corporation Ltd. (3738.45, 8.81%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (1149.40, -3.02%), Marico Ltd. (558.30, -3.01%) and SBI Cards and Payment Services Ltd. (1061.30, -2.27%).

Volume Shockers

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

Top high volume gainers on BSE included Zee Entertainment Enterprises Ltd. (261.55, 39.98%), TV18 Broadcast Ltd. (39.80, 10.25%) and Solar Industries India Ltd. (1987.55, 10.07%).

Top high volume losers on BSE were Adani Enterprises Ltd. (1513.20, -1.26%), Cholamandalam Financial Holdings Ltd. (659.80, -1.11%) and Prism Johnson Ltd. (124.15, -0.80%).

Esab India Ltd. (2231.15, -0.16%) was trading at 24.6 times of weekly average. Galaxy Surfactants Ltd. (3515.35, 8.96%) and Hathway Cable & Datacom Ltd. (25.10, 7.04%) were trading with volumes 20.6 and 15.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

52 stocks overperformed with 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Abbott India Ltd. (21454.05, 0.35%), Adani Transmission Ltd. (1942.70, 3.81%) and Atul Ltd. (9850.25, 3.05%).

Stock making new 52 weeks lows included - Varroc Engineering Ltd. (260.90, -1.38%).

13 stocks climbed above their 200 day SMA including Zee Entertainment Enterprises Ltd. (261.55, 39.98%) and Sun TV Network Ltd. (512.15, 4.81%). 5 stocks slipped below their 200 SMA including Garden Reach Shipbuilders & Engineers Ltd. (192.25, -0.83%) and Union Bank of India (34.45, -0.58%).

 
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Trendlyne Marketwatch
13 Sep 2021
Markets trade lower, Zomato to shut down grocery delivery service

Nifty 50 closed at 17,355.30 (-14.0, -0.1%) , BSE Sensex closed at 58,177.76 (-127.3, -0.2%) while the broader Nifty 500 closed at 14,852.20 (15.8, 0.1%)

Market breadth is holding steady. Of the 1800 stocks traded today, 899 showed gains, and 837 showed losses.

  • Westlife Development, Sundaram Clayton, Procter & Gamble Health, and Cyient are trading with higher delivery volumes compared to Thursday.

  • Goldiam International is rising as the jewellery company's board of directors approve a plan to buy back equity shares at Rs 1,200 per share.

  • KEI Industries' Managing Director Anil Gupta sells 2 lakh shares (0.22% stake) for Rs 15.4 crore in an insider trade on Friday.

  • Advanced Enzyme Technologies is trading in the green with more than 31 times its weekly average trading volume. IIFL Finance, SIS, and 3M India are trading with more than six times their weekly average trading volume.

  • Axis Direct maintains a 'Buy' rating on Mold-Tek Packaging with a target price upside of 18% expecting volumes to recover by Q3FY22.

  • Tejas Networks allots 1.9 crore equity shares to Panatone Finvest, a subsidiary of Tata Sons, increasing its stake to 37.7% from 24.8%.

  • LIC Housing Finance raises Rs 2,335 crore through issuing 4.5 crore preference shares to Life Insurance Corporation of India on Thursday.

  • Indiabulls Housing Finance receives the approval of the Competition Commission of India to sell its mutual fund business to Groww for Rs 175 crore.

  • Reports suggest Zomato will close its grocery delivery service this week for the second time since April 2020. The food delivery giant first forayed into delivering groceries in Q1FY21, but closed the service in Q2FY21.

  • ICICI Lombard General Insurance Company is no longer a subsidiary of ICICI Bank. The private bank's stake in the general insurance company drops to 48% following its merger with Bharti AXA.

  • Punjab National Bank's board of directors approves a plan to raise Rs 6,000 crore through debt.

  • Canada Pension Plan sells 2.3 crore shares (2% stake) of SBI Life Insurance Company for Rs 2,693 crore in a bulk deal on Thursday.

  • Nifty 50 was trading at 1,7309.80 (-59.5, -0.3%) , BSE Sensex was trading at 58,102.49 (-202.6, -0.4%) while the broader Nifty 500 was trading at 14,802.40 (-34.1, -0.2%)

  • Market breadth is in the green. Of the 1,722 stocks traded today, 869 showed gains, and 772 showed losses.

Riding High:

Largecap and midcap gainers today include Syngene International Ltd. (670.00, 6.26%), The New India Assurance Company Ltd. (168.00, 5.49%) and Indraprastha Gas Ltd. (594.55, 5.36%).

Downers:

Largecap and midcap losers today include Vodafone Idea Ltd. (7.95, -5.36%), Adani Green Energy Ltd. (1185.20, -2.53%) and Reliance Industries Ltd. (2371.55, -2.23%).

Volume Rockets

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

Top high volume gainers on BSE included Advanced Enzyme Technologies Ltd. (412.00, 12.40%), Dish TV India Ltd. (19.35, 8.10%) and Hindustan Copper Ltd. (124.60, 7.51%).

Top high volume losers on BSE were Aegis Logistics Ltd. (244.80, -5.50%), Inox Leisure Ltd. (300.55, -1.80%) and Spandana Sphoorty Financial Ltd. (622.85, -1.16%).

SIS Ltd. (485.05, 0.30%) was trading at 9.1 times of weekly average. IIFL Finance Ltd. (309.40, 4.99%) and Syngene International Ltd. (670.00, 6.26%) were trading with volumes 9.1 and 8.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

39 stocks hit their 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Abbott India Ltd. (21378.55, 3.24%), Adani Transmission Ltd. (1868.80, 3.43%) and Bharat Petroleum Corporation Ltd. (498.10, 1.42%).

Stock making new 52 weeks lows included - Varroc Engineering Ltd. (264.55, -3.31%).

9 stocks climbed above their 200 day SMA including Advanced Enzyme Technologies Ltd. (412.00, 12.40%) and Hindustan Copper Ltd. (124.60, 7.51%). 10 stocks slipped below their 200 SMA including Future Consumer Ltd. (7.50, -6.83%) and IFB Industries Ltd. (1075.85, -2.24%).

 
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The Baseline created a screener Relative outperformers vs Nifty50, …
13 Sep 2021
Stocks that outperformed the Nifty50 in the past one month, with brokerage buy calls and target price upgrades
 
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The Baseline
12 Sep 2021
Stocks with buy calls and price upgrades, that are outperforming Nifty50

For this week's analysis, we look at five stocks that:

1) have target price upgrades from analysts (within the past month)

2) outperformed the Nifty50 index over the past one month and

3) received multiple broker buy calls in the past one year. 

Only 29 stocks qualify for all three criteria across the entire stock universe. We picked out some interesting ones:

  1. Dalmia Bharat: This cement company has caught the attention of brokerages and is in Trendlyne's top screeners as well. It outperformed the Nifty50 by over 14% in the past one month and received five brokerage buy calls over the past year, as well as one target price upgrade in the past month. Geojit notes, "DBL’s strong capacity expansion plans to become a pan India player with 110-130MT by 2031 (48MT by FY24) while maintaining a strong balance sheet (target Net Debt /EBITDA <2x) supports valuation re-rating."

  2. Apollo Hospitals: This healthcare company has been under the radar in the past year with Covid19 limiting patient access and voluntary treatments. But in the past quarter, it has outperformed the Nifty50, and also beat the index by 11% in the past month, and HDFCSec notes that, "With multiple growth drivers in place, Apollo is likely to report strong revenue/EBITDA CAGRs of 31%/52% over the next two years."

  3. KNR Constructions: This construction company is gaining on expectations that it will benefit from the boost in government infrastructure spending. The stock outperformed the Nifty50 by over 3.5% in the past month. As of Jun’21 end, Axis Direct analysts point out, "the KNRCL order book stood robust at Rs 6,596 Cr (2.44x of FY21 revenue), comprising both road and irrigation projects. The current order book size reflects comfortable revenue visibility for the next 2-3 years." 

  4. FIEM Industries: This smallcap automotive light and indicator manufacturer has stolen the limelight after emerging as the sole parts supplier for Ola Electric in key products. This pivots this small player into the realm of larger suppliers, opening up to new orders just as the industry is ramping up, according to analysts. The company outperformed the Nifty50 by 34% the past month as investors jumped into the stock on the Ola news.  

  5. Oil India: Post result analysis of Oil India have been optimistic about its prospects, with the economic rebound. The company's stock was a muted performer over the past year but has seen a steady climb since May, and outperformed the Nifty50 by over 10.9% in the past month. Brokerages have given the stock three target price upgrades in the last month alone.

 
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The Baseline
12 Sep 2021
Five Interesting Stocks Today

  1. Sobha: For the first time in FY22, this real estate company’s insiders are selling shares. And it’s not just any insider, but the company’s Managing Director. On September 3, JC Sharma, the Managing Director of Sobha sold 30,000 shares worth Rs 2.1 crore in an insider trade, during a week when the stock jumped over 30%. Then, on September 7, he sold another 8,000 shares for Rs 65.3 lakhs in another insider trade. The last time a promoter, promoter group, key managerial personnel, or an institutional investor sold the company’s shares was during the first Covid-19 wave in April 2020 when L&T Mutual Fund sold over 21 lakh shares (2.2% stake). Since then, the stock is up by 4.5X.

  2. NOCIL: Brokers are gushing about this specialty chemical manufacturing company. Three brokerages — Axis Direct, Prabhudas Lilladher, and Motilal Oswal gave it a ‘Buy’ rating with an 11% target price. Axis Direct in a note expects the company’s rubber chemicals division to receive a boost due to the resurgent demand for tyres domestically. The average broker target price is at an upside of 26%.

  3. Blue Dart Express: This logistics company’s stock is rallying with cheap valuations despite Superstar investors taking profits. In one month, the stock is up by nearly 16%. However, it remains historically cheap as its trailing 12-month price to earnings (PE) ratio is 58.5 times compared to an average PE of 85.5 times, putting it in the buy zone. In the June 2021 quarter, Radhakishan Damani’s Bright Start Investments sold 67,000 shares in the company, reducing its stake by 0.28% sequentially.

  4. Apollo Hospitals Enterprise: This healthcare company’s promoters have resumed pledging shares. On September 6, the company’s promoter K Vishweshwar Reddy pledged 70,000 shares worth Rs 35 crore. This is the second time Reddy pledged the company’s shares in FY22. Back in April 2021, he pledged 2 lakh shares worth Rs 58 crore. In Q1FY22, 29.9% of the promoter’s shareholding was locked in pledges, a 200 basis points increase sequentially. This was the first time, promoter’s pledges increased sequentially since Q3FY20.

  5. Greaves Cotton: This engineering company is set to strengthen its position in the electric vehicles market. On September 9, it launched a multi-brand retail store for electric two wheelers, three wheelers, and automotive components. The company already has a strong base in the electric scooter market through its wholly-owned subsidiary Ampere Vehicles. Brokerages value Ampere Vehicles at Rs 1,800 crore and expect it to generate Rs 400 crore in sales by FY23 or 20% of the company’s total expected revenue.