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by Ritmbarah Arora

Future Retail: Future Retail is on the top of the list of top gainers today in the stock market. The shares surged up to 13% at Rs 370 and reached a high of Rs 387.9 in the early trading hours, as of this writing. Around 1 million shares in volume have been traded today so far. The news of Competition Commission of India (CCI) approving of Amazon.com NV Investment Holdings’ proposal to acquire about 49% share in Future Coupons (FCL), a subsidiary of Future Group has driven up share price. The stocks of Future Retail fell 6% to Rs 323.6 on November 15 after the company reported a decline in its consolidated net profit for the Q2FY20. As per Trendlyne data, the stock price has increased by 12.1% in this week. The stock is listed in 20 screeners on Trendlyne. Link

Adani Gas: The shares of Adani Gas have gained in the stock market for third consecutive day and is among the top gainers today rising 10% intraday. Around 7.2 million shares in volume have been traded today so far. CCI has approved the acquisition of stake in the company by Total Group on November 28, post which the stock price continued to rise. The deal is expected to bridge the energy deficit and enhance the supply of natural gas in India. Adani gas shares are up by 11.4% as per Trendlyne data. The stock is listed in 23 screeners on Trendlyne. Link

Indiabulls Housing Finance: The shares of Indiabulls Housing Finance initially advanced 12.5% at Rs 376.7 and was among the top gainers today. The price advanced after a Government affidavit released which mentioned that no irregularities in loans extended by the company to certain entities were found as alleged in a public interest litigation (PIL). By afternoon however, share price fell sharply after the Delhi High Court adjourned the Citizen Whistle Blower Forum PIL against the firm to Feb. 28, 2020.
Global firm CLSA maintained ‘buy’ call on the stock with a revised target of Rs 450. CLSA said, “MCA affidavit should abate concerns”. The stock is listed in 22 screeners on Trendlyne. Link

Adani Transmission Ltd: The shares of Adani Transmission increased 12% to Rs 315 today and is among the top gainers in the stock market. Around 1.2 million shares in volume have been traded today so far. Adani Transmission belongs to the Adani group and because of the news of approval from CCI for the acquisition of stake in the company by Total Group, the share price surged of the complete Adani Group stocks. The shares of Adani Transmission are up by 16.3% in this week as per Trendlyne data. The stock is listed in 26 screeners of Trendlyne.

Gayatri Projects: The shares of Gayatri Projects are among the top gainers today. The price surged 10% at Rs 69.6 today and around 8 lakh shares in volume have been traded so far. The shares of the company had hit a four-year low of Rs 62.5 on Friday, November 22 and were locked in lower circuit band of 10% after the lenders to the company invoked pledged shares. CARE Ratings revised the ratings of long-term and short-term bank facilities of Gayatri Projects to ‘CARE D’ because of delay in servicing debt obligations. The shares advanced by 11.1% in this week as per the data on Trendlyne. The stocks of Gayatri Projects are listed in 17 screeners on Trendlyne.  

One way to track how expensive a stock is, is not just with respect to its peers but also based on its own PE history. Even with recent upswings in share price, around 101 Nifty500 companies have current PEs that are less than 3 year, 5 year and 10 year PE averages. This screener (subscription, but screenshot above) includes GlaxoSmithKline Pharma, Jyothy Labs, Delta Corp, and Godrej Industries among the stocks with lower PE compared to long-term averages.

It helps to look at share prices in time periods greater than a year. While stocks may look expensive at certain valuations, smart money follows stocks whose fundamentals are strong, but share price is depressed due to short-term dynamics. This may explain why some companies have been hitting fresh highs and gaining attention in the recent bullishness - this includes pharma stocks like GSK Pharma, which have recently seen an upswing. 

Vodafone Idea: The shares of Vodafone Idea are among the top gainers today in the stock market. Around 259.5 million shares have been traded in volume so far and is leading the list of most traded stocks on NSE. The price of the share rose by 12.7% to Rs 6.7. Vodafone Idea is in need of an 83% jump in its average revenue per user (ARPU) according to latest reports to meet its cash needs by FY23. Kotak Institutional Equities estimates that annual cash outflow requirements would add up to Rs 30,100 crore by FY23, for which Vodafone Idea would need a monthly ARPU of Rs 196 which would further rise to Rs 212 in the absence of waivers on its AGR.

On November 23, Care Ratings downgraded the rating of the company on its long-term bank facilities and non-convertible debentures (NCDs) due to significant erosion in overall risk profile post the judgement of Supreme Court on adjusted gross revenue (AGR) issue. Care Ratings downgraded the long-term bank facilities from A minus to BBB minus under credit watch with negative implications. Vodafone Idea is listed in 18 screeners of Trendlyne.

IIFL Finance Ltd: Shares of IIFL Finance have continued to stay in the list of top gainers for second consecutive day after Wednesday, November 27. The share price of the company surged 12.4% at Rs 170.7 and 11.8% intraday to Rs 169.9 which is the highest since June 14, 2019. Around 9.4 lakh shares have been traded in volume so far. The shares of IIFL are up by 15.9% as per the data on Trendlyne. There is a buy call for IIFL Finance with a target price of Rs 195 and a stop loss of Rs 166 by the brokers. The company is listed in 27 screeners of Trendlyne.

Bharti Infratel Ltd: The shares of Bharti Infratel witnessed a surge of 8% in its share price at Rs 243.4 and is among the top gainers in the stock market today. Around 16.3 million shares have been traded in volume so far. The company had reported a consolidated net profit of Rs 964 crore for Q2FY20, while consolidate revenue declined marginally YoY to Rs 3,638 as against Rs 3,668 in Q2FY19. Bharti Infratel is listed in 11 screeners of Trendlyne.

Indiabulls Housing Finance: The shares of Indiabulls Housing Finance are among the top gainers today with an advance of 7.9% in the share price at Rs 289.3. Around 29.1 million shares in volume have been traded today so far. The shares of Indiabulls are up by 28% from the beginning of this week, as per Trendlyne data. Kunal Bothra, an independent analyst had issued a ‘buy’ call on these shares with a target price of Rs 280 which already crossed today. The share price at the time of recommendation was Rs 259.7 on November 26. Indiabulls Housing Finance is listed in 20 screeners of Trendlyne.

Corporation Bank: The shares of Corporation Bank advanced 9.1% at Rs 25.1 and is among the top gainers and most traded shares in the stock market today. Around 4.8 million shares in volume have been traded so far. The bank was among the top gainers on November 25 after the announcement that the Government of India, Ministry of Finance and Department of Financial Services has accorded its in-principle approval to the proposed amalgamation of Corporation Bank and Andhra Bank into Union Bank of India, through its Alternative Mechanism. Corporation Bank is listed in 21 screeners of Trendlyne.