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The Baseline
13 Aug 2024
COTW: When it comes to the Olympic race, India lags in medals to GDP ratio
By Satyam Kumar

The Paris 2024 Summer Olympics ended with Indian athletes winning a total of six medals (one silver, five bronze) –three in shooting, and a medal each in hockey, wrestling, and athletics (javelin). 

Successful Olympic athletes like Abhinav Bindra and Neeraj Chopra have won golds in the past and have become national heroes, inspiring others. Rifle shooter Abhinav Bindra was the first Indian to win an Olympic gold medal in an individual event at Beijing in 2008 and was the only one to do so for over a decade before Neeraj’s javelin triumph at Tokyo in 2020.

Last year in October, Prime Minister Modi expressed hopes that India would host the Olympics in 2036, pledging to leave no stone unturned in the effort. However, there is still a lot of work to be done if we want to get a piece of the global sports action.

The International Monetary Fund in May projected that India will surpass Japan to become the 4th largest economy in the world in terms of nominal GDP in 2025. With a growth rate of over 7%, India will very likely become the third largest economy in the coming years. However our performance in the Olympics is a different story. 

India stands last in terms of number of medals to GDP ratio in the 2024 Olympics, at 0.05 medals for every $100 billion in GDP.

In this week’s Chart of the Week, we explore why India lags so far behind in global sports. Countries like the United States, China, and Australia dominate the medal tally, and even smaller developing nations like Jamaica, Mexico, and Brazil are far ahead of us.

An Olympic medal is a rarity in India: one per 250 million people

India ranks last in medal density among the most populous nations

In 2023, India beat China to become the most populous country in the world, with over 1.4 billion people. More than half of the population is under the age of 25, and the average age in India is 29 years, compared to 37 in China and 48 in Japan. 

You would imagine that this kind of demographics would produce hundreds of thousands of talented Indian athletes. 

But despite  having the highest youth population, only 117 Indians went to compete in the Olympics this year. China in comparison, sent around 388 people who participated in a total of 33 events. From the above chart, it is clear that qualifying for the Olympics events and winning medals is very rare for India. If we look at the tally this year, India has won only one medal per 250 million people, which translates to 0.004 medals per million people. Meanwhile, countries like the United States, Japan and Brazil won 0.38, 0.36 and 0.10 medals respectively per million people.

Sports: A neglected field in terms of government spending

Budget allocation for sports has been below 0.1% for the past decade

The percentage of the total budget allocated to the Ministry of Youth Affairs and Sports, which oversees sports, games, and youth welfare programs, is abysmal. For over a decade, this allocation has remained below 0.1% of the total budget. This underinvestment could be a major reason why a country with the largest youth population ranks 71 in terms of medal tally in the 2024 Olympics.

Over the past decade, the government has launched various initiatives to promote sports in India. To enhance Olympic and Paralympic performance, the Ministry of Youth Affairs and Sports introduced the Target Olympic Podium Scheme (TOPS) in 2014. It ensures that a ‘core group of athletes’ have all necessary, personalised support in terms of foreign exposure, hiring of specific coaches, training and competition abroad.

In 2018, another program was launched by the name “Khelo India Program” which aimed at reviving the sporting culture in India at the grassroots. It has been more than five years since the programme was launched, and has seen participation of around 20,000 athletes. 3,000 athletes identified as Khelo India Athletes are currently training at Khelo India Academies, and are given an out-of-pocket allowance of Rs 10,000 per month.

A lot of noise, but not enough money: China spends ten times more than India on sports

At the outset, it looks like the government has only revamped the names of various sports programs but changed little else. For instance, Sports Authority of India (SIA) centers have been renamed Khelo India Academies, but little to no effort have been put into increasing the budget allocation.

India has aims to become a developed nation by 2047. To compete globally at a level that reflects our rising economic strength, India needs substantial investment in infrastructure and athlete development. In the FY25 Budget, the government has allocated Rs 3,442 crore for the development of sports, which translates to approx. $410 million. In comparison,, China spent around $3.2 billion in 2023, and has plans to spend around $1 billion in 2024.

The cause of our medal drought is clear: sports in India is severely underfunded and has failed to  keep up with other nations. The government's ambitious goal of hosting the Olympics in 2036 may not materialze if we don’t do a big overhaul, in funding as well as infra and training for young athletes. 

To excel on the global stage and nurture our talent, the Indian government needs to step up to the plate. Else we will continue to finish dead last in the race.

Trendlyne Marketwatch
Trendlyne Marketwatch
13 Aug 2024
Market closes lower, Dilip Buildcon's net profit rises 1,036% to Rs 139.8 crore in Q1FY25
By Trendlyne Analysis

Nifty 50 closed at 24,139 (-208, -0.9%) , BSE Sensex closed at 78,956.03 (-692.9, -0.9%) while the broader Nifty 500 closed at 22,705.80 (-210.1, -0.9%). Market breadth is moving down. Of the 2,251 stocks traded today, 561 showed gains, and 1,659 showed losses.

Markets closed lower after falling throughout the day. The Indian volatility index, Nifty VIX, rose 1.9% and closed at 16.2 points. JSW Steel's board has approved the acquisition of a 66.7% economic interest in the Australian mining company M Res NSW for $120 million (Rs 1,007.5 crore).

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Financial Services and S&P BSE Telecom were among the top index losers today. According to Trendlyne’s Sector dashboard, Textiles Apparels & Accessories emerged as the best-performing sector of the day, with a rise of 0.3%.

Asian indices closed in the green. European indices are trading mixed. US index futures are trading in the green except Small Cap 2000 which is trading in the red, indicating a positive start to the trading session. Brent crude oil futures are trading lower.

  • Relative strength index (RSI) indicates that stocks like Granules India, Ajanta Pharma, Suzlon Energy, and Colgate-Palmolive (India), are in the overbought zone.

  • Godrej Industries' Q1FY25 net profit rises 81.1% YoY to Rs 322.5 crore due to reduced inventory costs. However, revenue falls 5.7% YoY to Rs 4,247.93 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Hindalco Industries' net profit grows by 25.3% YoY to Rs 3,074 crore in Q1FY25, helped by inventory destocking, lower power & fuel, and finance costs. Revenue increases by 7.6% YoY to Rs 57,437 crore, driven by improvements in the Novelis, upstream aluminium, downstream aluminum, and copper segments. It appears in a screener of stocks with improving cash flow from operations over the past two years.

  • Dilip Buildcon's revenue grows 7.3% YoY to Rs 3,134.2 crore in Q1FY25, driven by strong improvements in EPC projects & road infra maintenance segment. Net profit rises 1,036% YoY to Rs 139.8 crore helpd by inventory destocking and a deferred tax credit of Rs 75.3 crore. It appears in a screener of stocks with quarterly net profit growth and increasing profit margin YoY.

  • Happiest Minds Technologies falls as its Q1FY25 net profit drops 29.1% QoQ to Rs 51 crore due to non-recurring expenses and higher amortization & financing costs from recent acquisitions. However, revenue rises 11.1% QoQ to Rs 463.8 crore during the quarter. The company appears in a screener of stocks with improving operating cash flow over the past two years.

  • StoxBox anticipates Hero MotoCorp to deliver strong Q1FY25 results. The brokerage forecasts an expansion in EBITDA margins due to the company's focus on enhancing its portfolio. Hero MotoCorp is expected to capitalize on its strategic advancements in the 125cc and 400cc+ segments, and make steady progress in the electric two-wheeler market through new launches in the mid and mass segments this fiscal year.

  • IPCA Laboratories rises to its all-time high of Rs 1,402.6 per share as its net profit grows by 18.1% YoY to Rs 192.2 crore in Q1FY25. Revenue increases by 29.6% YoY to RS 2,113.2 crore, helped by an improvement in the the Indian and international markets. It shows up in a screener of stocks with low debt.

  • Dixon Technologies rises sharply as it acquires a 50.1% majority stake in Ismartu India for Rs 276 crore, completing the first tranche of the deal. This acquisition makes Ismartu a subsidiary of Dixon Technologies.

  • Man Industries' Q1FY25 net profit declines by 21.1% to Rs 19.1 crore due to higher inventory and employee benefits expenses. Revenue falls by 6.8% YoY to Rs 768.8 crore, caused by a decrease in the manufacturing segment. The company plans to set up a 0.4-0.5 million tonnes (MT) pipe manufacturing and coating facility in Saudi Arabia with an estimated capex of Rs 600 crore.

  • India's weight in the Morgan Stanley Capital International (MSCI) EM Index has increased from approximately 8% in 2020 to 20%, driven by recent gains in the Sensex and Nifty 50. Seven stocks, including Rail Vikas Nigam (RVNL), Dixon Technologies, and Vodafone Idea, were added to the MSCI Global Standard Index during the August rejig. However, Bandhan Bank exited the index.

  • Inox Wind surges as it receives an order for 51 MW from Everrenew Energy to supply its latest 3 MW wind turbine generators (WTGs) and provide post-commissioning multi-year operations and maintenance (O&M) services.

  • Olectra Greentech surges as its revenue grows 45.3% YoY to Rs 313.9 crore in Q1FY25, driven by improvements in the insulator and e-vehicle segments. Net profit rises 10.9% YoY to Rs 20.7 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

  • Axis Direct downgrades SAIL to 'Hold' from 'Buy' with a lower target price of Rs 130 per share. The brokerage is cautious about the stock due to the delays and capex overruns for its hot metal expansion project. It expects the company's revenue to grow at a CAGR of 2.4% over FY25-26.

  • Morgan Stanley Capital International (MSCI) announces the resumption of normal operations and the implementation of its index review, including adjustments to the number of shares (NOS), foreign inclusion factor (FIF), and domestic inclusion factor (DIF) for Adani Group and its associated securities. This decision comes amid ongoing scrutiny of the Adani Group companies following allegations from Hindenburg Research.

  • Brainbees Solutions' shares debut on the bourses at a 40% premium to the issue price of Rs 465. The Rs 4,193.7 crore IPO has received bids for 12.2 times the total shares on offer.

  • Campus Activewear falls as its Q1FY25 net profit drops 19.4% YoY to Rs 25.4 crore. Revenue declines 4.1% YoY to Rs 339.2 crore during the quarter, impacted by weak demand in rural and semi-urban areas due to the general elections. The company appears in a screener of stocks with improving operating cash flow over the past two years.

  • Hindustan Copper rises sharply as its Q1FY25 net profit surges by 139.8% YoY to Rs 113.4 crore, helped by inventory destocking. Revenue grows by 30.1% YoY to Rs 500.4 crore during the quarter. It features in a screener of stocks with growth in operating profit and increasing operating profit margin (YoY).

  • Goldman Sachs downgrades Bata India to ‘Sell’ with a lower target price of Rs 1,300. The brokerage notes the company’s deteriorating SSSG growth trend, and the lag in distribution channel sales. It adds that Bata’s initiatives are taking longer to yield results, and highlights muted sales growth.

  • Unicommerce eSolutions' shares debut on the bourses at a 117.6% premium to the issue price of Rs 108. The Rs 276.6 crore IPO has received bids for 168.3 times the total shares on offer.

  • JSW Steel's board approves the acquisition of M Res NSW for $120 million (Rs 1,007.5 crore) through its wholly-owned subsidiary, JSW Steel (Netherlands). The company will acquire a 66.7% economic interest in M Res NSW by subscribing to its non-voting Class B shares.

  • Senco Gold rises sharply as its net profit surges by 85.3% YoY to Rs 51.3 crore in Q1FY25, driven by inventory destocking. Revenue grows by 7.7% YoY to Rs 141.6 crore during the quarter. It shows up in a screener of stocks with book value improving over the past two years.

  • India’s CPI inflation eases to a five-year low of 3.5% in July, led by the base effect. Food inflation moderates to 5.1%, compared to 8.4% in June. Rural inflation falls to 4.1% in July, while urban inflation stands at 3%.

  • NMDC's Q1FY25 net profit rises 19.3% YoY to Rs 1,970.8 crore, driven by reduced inventory and lower royalty and levy expenses. Revenue grows marginally by 0.4% YoY to Rs 5,414.2 crore during the quarter. The company features in a screener of stocks with improving net cash flow over the past two years.

  • Housing and Urban Development Corp is rising as its net profit grows by 25.2% YoY to Rs 557.8 core in Q1FY25, owing to lower employee benefits and deferred tax expenses. Revenue increases by 18.7% YoY to Rs 2,197.2 crore during the quarter. It appears in a screener of stocks with improving revenue for the past four quarters.

  • Jubilant Industries surges as its Q1FY25 net profit rises 25.7% YoY to Rs 25.8 crore due to lower material costs. Revenue grows 2.7% YoY to Rs 358.1 crore during the quarter, driven by higher sales from the performance polymers & chemicals segment. The company appears in a screener of stocks with the highest recovery from 52-week lows.

  • Vodafone Idea is rising as its net loss contracts 18% YoY to Rs 6,432.1 crore in Q1FY25, owing to lower network, IT outsourcing, license, spectrum usage, marketing, content, customer acquisition, and finance costs. Revenue grows by 0.8% YoY to Rs 10,764.6 crore during the quarter. It features in a screener of stocks outperforming their industries in the past quarter.

  • Nifty 50 was trading at 24339 (-8, 0.0%) , BSE Sensex was trading at 79552.51 (-96.4, -0.1%) while the broader Nifty 500 was trading at 22927.80 (12.0, 0.1%)

  • Market breadth is in the green. Of the 1974 stocks traded today, 1173 were on the uptrend, and 761 went down.

Riding High:

Largecap and midcap gainers today include PB Fintech Ltd. (1,482.65, 3.8%), Oil India Ltd. (687.35, 3.0%) and Aurobindo Pharma Ltd. (1,505.80, 3.0%).

Downers:

Largecap and midcap losers today include Zydus Lifesciences Ltd. (1,175.45, -6.0%), Hindustan Zinc Ltd. (580, -5.6%) and Deepak Nitrite Ltd. (2,847.80, -5.6%).

Volume Rockets

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

Top high volume gainers on BSE included Triveni Turbine Ltd. (787.05, 12.3%), Kaynes Technology India Ltd. (4,670, 8.6%) and Olectra Greentech Ltd. (1,653.40, 7.2%).

Top high volume losers on BSE were Aarti Industries Ltd. (621.15, -15.5%), AIA Engineering Ltd. (4,547.20, -5.5%) and Cello World Ltd. (882.15, -3.0%).

Godrej Industries Ltd. (888.65, -1.2%) was trading at 18.0 times of weekly average. ICICI Securities Ltd. (785.90, 3.8%) and JBM Auto Ltd. (1,903.45, 3.4%) were trading with volumes 8.3 and 7.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

28 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (3,180, 3.7%), Aurobindo Pharma Ltd. (1,505.80, 3.0%) and Cipla Ltd. (1,583.45, -0.2%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (75.15, -3.0%).

7 stocks climbed above their 200 day SMA including Olectra Greentech Ltd. (1,653.40, 7.2%) and Shree Renuka Sugars Ltd. (47.36, 2.6%). 22 stocks slipped below their 200 SMA including Aarti Industries Ltd. (621.15, -15.5%) and Navin Fluorine International Ltd. (3,277.05, -5.5%).

Trendlyne Marketwatch
Trendlyne Marketwatch
12 Aug 2024, 03:55PM
Market closes lower, Voltas surged as its Q1FY25 net profit grew by 158.5% YoY
By Trendlyne Analysis

Nifty 50 closed at 24,347 (-20.5, -0.1%), BSE Sensex closed at 79,648.92 (-57.0, -0.1%) while the broader Nifty 500 closed at 22,915.85 (-7.7, 0.0%). Market breadth is in the red. Of the 2,280 stocks traded today, 1,067 were on the uptick, and 1,191 were down.

Indian indices erased their gains from the afternoon session and closed flat. The volatility index, Nifty VIX, rose 3.5% and closed at 15.9 points. Voltas surged to its all-time high of Rs 1,568.7 per share as its Q1FY25 net profit grew by 158.5% YoY to Rs 334.2 crore. Revenue rose 45.8% YoY to Rs 5,001.3 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green. Nifty Realty and BSE Consumer Durables closed higher. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 2.2%.

European indices traded mixed, while most Asian indices closed in the green. US index futures traded mixed, indicating a cautious start to the trading session. Crude prices continued to rise for the fifth consecutive session with the US Crude Futures rising 0.9% and Brent Crude growing 0.7% due to sustained geopolitical tensions in the Middle East.

  • Votas sees a long buildup in its August 29 futures series, with open interest increasing by 39.1% and a put-call ratio of 0.6.

  • ONGC rises as the government approves its Rs 10,501 crore investment in ONGC petro additions (OPaL), including feedstock support with gas priced up to 20% above the administrative price mechanism (APM) price.

  • Kaveri Seed surges to its all-time high of Rs 1,180 per share as its net profit grows by 5.8% YoY to Rs 289.5 crore in Q1FY25, helped by lower inventory costs and tax expense. Revenue rises by 8.6% YoY to Rs 812.4 crore during the quarter. It features in a screener of stocks with increasing net cash flow and cash from operating activities.

  • Usha Martin's Q1FY25 net profit rises 3.4% YoY to Rs 104.1 crore. Revenue grows 1.5% YoY to Rs 826.4 crore, driven by higher sales from the wire and wire ropes segment. The company features in a screener of stocks with improving cash flow from operations over the past two years.

  • Adani stocks decline following allegations by Hindenburg Research that SEBI Chairperson Madhabi Puri Buch and her husband held undisclosed investments in obscure offshore funds in Bermuda and Mauritius. According to the report, these are the same entities allegedly used by Vinod Adani to inflate stock prices artificially.

  • CE Info Systems rises sharply as its revenue rises 13.5% YoY to Rs 101.5 crore in Q1FY25. Net profit grows 12.2% YoY to Rs 35.9 crore during the quarter due to lower hardware material costs. It appears in a screener of stocks with increasing revenue every quarter for the last four quarters.

  • ICICI Direct keeps its 'Buy' call on Eicher Motors with a higher target price of Rs 5,750 per share. This indicates a potential upside of 19.2%. The brokerage is confident on the stock due to its efforts for two-wheeler premiumisation which will help sustain top-line growth. It expects the company's revenue to grow at a CAGR of 10.6% over FY25-26.

  • Bharat Dynamics falls sharply as its revenue declines 35.8% YoY to Rs 191.2 crore in Q1FY25, missing Forecaster estimates by 65.6%. Net profit drops 82.7% YoY to Rs 7.2 crore during the quarter. It appears in a screener of stocks with PE higher than their respective industry PE.

  • Sanjeev Sharma, Managing Director of ABB India, highlights the company’s robust project pipeline, consisting of projects from core, railways, and metros sectors. He expects double-digit growth in CY24. Sharma says the company missed its Rs 150-200 crore revenue target due to events like elections and budget.

  • Amara Raja Energy & Mobility rises sharply as its wholly-owned subsidiary, Amara Raja Advanced Cell Technologies (ARACT), reportedly signs a memorandum of understanding (MoU) with Piaggio Vehicles. The MoU aims to develop and supply LFP (lithium iron phosphate) lithium-ion (Li-ion) cells and chargers for Piaggio's electric vehicles.

  • Voltas surges to its all-time high of Rs 1,568.7 per share as its Q1FY25 net profit grows by 158.5% YoY to Rs 334.2 crore. Revenue rises 45.8% YoY to Rs 5,001.3 crore, helped by improvements in the unitary cooling products, electro-mechanical projects & services, and engineering products & services segments. It shows up in a screener of high volume and high gain stocks.

  • Suven Pharmaceuticals' revenue falls 33.6% YoY to Rs 230.7 crore in Q1FY25, missing Forecaster estimates by 26.7%. Net profit declines 49.6% YoY to Rs 60.8 crore during the quarter. It appears in a screener of stocks where mutual funds decreased their shareholding in the last quarter.

  • Ahead of the MSCI India Standard Index rejig, JM Financial expects eight stock additions, including Dixon Technologies, Railway Vikas Nigam (RVNL), and Vodafone Idea, among others. The brokerage anticipates the eight stocks will likely attract passive inflows worth $1.239 billion.

  • Anup Engineering surges as it secures two critical orders totaling over Rs 100 crore, with approximately 90% of the value coming from a European EPC contractor for a project in the UAE.

  • Shipping Corp of India surges as its net profit grows by 69.9% YoY to Rs 291.5 crore in Q1FY25. Revenue rises by 27% YoY to Rs 1,558.4 crore due to improvements in the liner, build carrier, tanker, and technical & offshore segments. It features in a screener of stocks with rising net cash flow over the past two years.

  • Balkrishna Industries' revenue rises 25.7% YoY to Rs 2,714.5 crore in Q1FY25, beating Forecaster estimates by 7.8%. Net profit grows 47.6% YoY to Rs 490 crore during the quarter. It appears in a screener of stocks with quarterly net profit growth and increasing profit margin YoY.

  • Reports suggest that CVC Capital Partners has outbid EQT to become the top contender for Aavas Financiers. The current promoters, Kedaara Capital and Partners Group were looking to exit their eight-year investment, which has yielded a 6x return. They hold around 26.5% stake in Aavas, with Kedaara Capital owning a marginally higher share than Partners Group.

  • Inox Wind rises sharply as it posts a net profit of Rs 51.8 crore in Q1FY25, compared to a net loss of Rs 64.4 crore in Q1FY24. Revenue grows by 84.7% YoY to Rs 650.5 crore due to an increase in the order book by 254% YoY during the quarter. It appears in a screener of stocks with growth in operating profit and margin (YoY).

  • Aurobindo Pharma's Q1FY25 net profit rises 61% YoY to Rs 919.2 crore due to lower material costs. Revenue increases 10.5% YoY to Rs 7,567 crore during the quarter. The company features in a screener of companies with increasing revenue over the past four quarters.

  • Siemens' Q1FY25 net profit grows by 26.8% YoY to Rs 577.7 crore, led by lower inventory costs. Revenue grows by 7.1% YoY to Rs 5,360.3 crore, driven by improvements in the smart infrastructure, mobility, and digital industries segments. It features in a screener of stocks with negative to positive growth in sales and profit with strong price momentum.

  • Abhijit Roy, Managing Director of Berger Paints, notes the limited impact of new entrants. He highlights the 2.5% price hike taken by the company, and expects improved margins going forward. Roy projects a volume growth of around 14-15% in H2, and market share in the 20-21% range.

  • CESC surges as its Q1FY25 net profit rises 8.9% YoY to Rs 378 crore. Revenue declines 12.8% YoY to Rs 4,863 crore during the quarter, driven by increased power demand amid strong manufacturing activity and scorching summer weather. The company features in a screener of stocks with zero promoter pledge.

  • Jubilant Foodworks rises to its 52-week high of Rs 621.7 per share as its net profit surges by 93% YoY to Rs 55.8 crore in Q1FY25. Revenue grows by 45.1% YoY to Rs 1,950.2 crore due to increased sales from Domino's and new customer additions. It appears in a screener of stocks with high momentum scores.

  • Mazagon Dock Shipbuilders rises as it secures a contract worth Rs 4,676 crore from Oil and Natural Gas Corp (ONGC) for wellhead platforms and associated pipeline project (DSF-II) on an EPC reimbursable basis.

  • Bajaj Consumer Care falls as its Q1FY25 net profit drops 19.7% YoY to Rs 37.1 crore. Revenue declines 9% YoY to Rs 245.9 crore during the quarter due to planned one-time market hygiene corrections in wholesale discounts and rationalization of schemes. The company appears in a screener of stocks with increasing revenue every quarter for the past three quarters.

  • Nifty 50 was trading at 24,268.70 (-98.8, -0.4%), BSE Sensex was trading at 79,466.87 (-239.0, -0.3%) while the broader Nifty 500 was trading at 22,790.40 (-133.1, -0.6%).

  • Market breadth is sharply down. Of the 1,958 stocks traded today, 547 were gainers and 1,372 were losers.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (575.85, 11.1%), Voltas Ltd. (1,582.55, 10.8%) and Jubilant Foodworks Ltd. (651.35, 8.8%).

Downers:

Largecap and midcap losers today include Balkrishna Industries Ltd. (2,844.65, -7.0%), Life Insurance Corporation of India (1,074.35, -5.2%) and Astral Ltd. (1,937.90, -4.6%).

Volume Shockers

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

Top high volume gainers on BSE included Inox Wind Ltd. (208.55, 19.7%), Rail Vikas Nigam Ltd. (575.85, 11.1%) and Voltas Ltd. (1,582.55, 10.8%).

Top high volume losers on BSE were Sun TV Network Ltd. (818.80, -10.7%), Balkrishna Industries Ltd. (2,844.65, -7.0%) and Bharat Dynamics Ltd. (1,343.95, -6.3%).

Star Cement Ltd. (214.17, 7.7%) was trading at 11.3 times of weekly average. PNC Infratech Ltd. (484.60, 4%) and Jubilant Foodworks Ltd. (651.35, 8.8%) were trading with volumes 9.2 and 9.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

28 stocks took off, crossing 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (4,813.35, 2.2%), Ajanta Pharma Ltd. (3,069.90, 2.4%) and Aurobindo Pharma Ltd. (1,461.80, 0.8%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (77.46, -1.6%).

9 stocks climbed above their 200 day SMA including Redington Ltd. (199.41, 4.9%) and NMDC Ltd. (229.63, 3.7%). 13 stocks slipped below their 200 SMA including Aster DM Healthcare Ltd. (385.50, -5.5%) and Mishra Dhatu Nigam Ltd. (420.70, -5.0%).

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The Baseline
09 Aug 2024
Five Interesting Stocks Today - August 09, 2024

1. BSE:

This stock market exchange saw an 8.4% surge on Thursday following the announcement of its Q1 results after market hours on Wednesday. The firm posted a revenue growth of 2.5X YoY at Rs 674 crore in Q1FY25, surpassing Trendlyne's Forecaster estimate by 14.5%. Adjusted net profit rose 2.6X YoY to Rs 265 crore, beating estimates by 14%.

In Q1FY25, transaction charges, which make up more than half of the total revenue, soared 5.6X YoY to Rs 366 crore. Revenue from equity derivatives jumped to Rs 242 crore, compared to just Rs 1.6 crore in Q1FY24, thanks to a relaunch in May last year. However, the currency derivatives segment faltered as revenue plunged by 85% YoY, following the RBI mandate requiring traders to demonstrate foreign currency exposure to participate in this segment.

BSE shares had surged 6% on July 31 after SEBI proposed seven key amendments to curb the FnO frenzy. SEBI had observed that most traders lose money on expiry day trading, where premiums are low but risk is high. One of the amendments aims to limit both NSE and BSE to only one weekly expiry contract each. 

Analysts anticipate these changes to impact FnO volumes. But they also forecast a significant market share gain for BSE from its current 20% level, since these amendments are expected to impact NSE more severely, as it currently holds 80% market share with four weekly expiry contracts on different days, compared to BSE's two.

MD & CEO Sundararaman Ramamurthy said, “BSE’s foray into single stock derivatives space from July 1, 2024, with a mid-month expiry, has gained considerable traction.” He highlights that performance has exceeded his expectations, with a total turnover of Rs 341 crore in July.

Motilal Oswal reiterates its ‘Neutral’ rating on BSE due to the uncertainty surrounding potential new regulations for FnO. However, they view the relaunch of BSE derivatives products last year as a game-changer and expect the recent launch of stock derivatives to drive further market share gains for BSE.

2. Adani Wilmar:

This edible oils company rose by 10.6% over the past week, after Adani Enterprises approved a scheme of arrangement to demerge its food FMCG business and transfer it to Adani Wilmar, along with investments in Adani Commodities LLP.

Adani Wilmar reported a net profit of Rs 313.2 crore in Q1FY25 compared to a net loss of Rs 78.9 crore in Q1FY24, helped by inventory destocking. Revenue grew 9.6% YoY to Rs 14,168.6 crore, during the quarter. The firm missed Trendlyne’s forecaster estimates for revenue by 1.6%, but beat net profit estimates by 81.9%. 

Adani Wilmar got a boost from a notable increase in volumes, with edible oils up 12% YoY and Foods & FMCG up 42% YoY. The company increased its market share by 60 bps to 19% in the edible oil business, with its brand "Fortune" leading the segment. The firm’s market share in edible oil is nearly 1.5 times that of its next competitor, Patanjali Foods, dominating in North and Central India. CFO Shrikant Kanhere said, “We expect 30-40% YoY annual volume growth for the next three years once our Gohana plant is operational, enabling a more efficient in-house supply chain.”

The company has broadened its product range with "Pehli Dhaar," a cold-pressed mustard oil, and is utilizing its established distribution network to boost food product sales and reach more customers. It plans to cover 50,000 rural towns by March 2025 to enhance product distribution. Adani Wilmar also aims to expand its export business, focusing on specialty chemicals and branded food products, to explore new markets.

KRChoksey maintains its “Accumulate” rating with an upgraded target price of Rs 382.4, indicating a potential upside of 6.5%. The brokerage highlights favorable commodity prices, improved margins, and a scaling up of the food portfolio as drivers for future growth.

3. Godrej Consumer Products:

This personal products maker has declined more than 3.9% in the past two days after announcing its Q1FY25 results. Its revenue declined 3% YoY to Rs 3,409 crore in Q1, missing Forecaster estimates by 2.4%. This was largely due to a 25% YoY decline in GAUM ( Godrej Africa, USA, and Middle East).  Net profit grew 41.4% YoY to Rs 450.7 crore during the quarter, but missed estimates by 8.2%. 

International markets (which make up around 37% of the total revenue), saw Godrej Consumer’s Indonesia business outperform, with a 7% YoY growth in volumes. The growth was led by its hair colour business, and the newly launched Stella Electric Diffuser. However, Africa, US & Middle East business volumes declined due to devaluation of Nigeria’s naira currency, and the Red Sea crisis. 

In the domestic business, the homecare segment (which contributes around 38% of revenue) grew 8% YoY led by air fresheners and liquid detergent. However, the household insecticide business was impacted by severe heatwaves. The management highlighted that Goodknight Agarbatti is scaling up and gaining market share from unorganised incense stick players. Meanwhile, the personal care segment (contributing around 58% of the revenue) sales grew by 6% YoY. 

Meanwhile, Godrej Consumer Products announced its entry into the pet care industry, by creating a subsidiary, Godrej Pet Care, with an expected cash investment of Rs 500 crore planned over the next five years. The production will begin in Q2FY26, and the company will have a manufacturing agreement with Godrej Agrovet, operating in the animal feed and agribusiness sectors. Aasif Malbari, the CFO acknowledged the jump in pet ownership in India, saying,  “Pet foods is a Rs 5,000-crore category with the potential for strong double-digit growth for the next few decades”.

Post results, Motilal Oswal maintains its ‘Buy’ rating with a target price of Rs 1,700. The brokerage believes the implementation of disruptive innovations, the introduction of access packs, expansion into new growth categories, and increased advertising expenditure will contribute to a consistently robust growth trajectory. 

4. Carborundum Universal:

This industrial products company fell by over 10.8% over the past week. It announced its results on July 31s – the company’s net profit fell by 0.2% YoY to Rs 112.5 crore in Q1FY25, while its revenue fell by 2.4% YoY, mainly on the back of declines in electro minerals and ceramics segment revenues. The firm missed trendlyne’s forecaster estimates for revenue by 5.4% and for net profit by 14.7%. The stock shows up in a screener for stocks in the PE sell zone.

Electro minerals are the basic raw material used in the manufacturing of abrasives and for surface preparation in tile and paint industries. Carborundum Universal manufactures these, as well as industrial ceramics like Zirconia Ceramic, which is used in the food industry for grinding applications. The company’s consolidated electro-minerals sales struggled in Q1, falling by 9% YoY to Rs 380 crore due to a drop in price realization by 4-6% from Chinese dumping. Consolidated ceramics sales fell by 6% YoY to Rs 270 crore, primarily due to delays in refractory orders. 

China has cast a shadow on Carborundum Universal’s numbers. Analysts note that the firm has reported a muted set of results since the last four quarters on account of competition with Chinese abrasives, loss of a customer in engineered ceramics, and the decline of the Russian ruble, which negated the gains of growth in subsidiaries’ revenues.

Sridharan Rangarajan, MD of the firm, commented: “For FY25, in the previous call  we said that full-year consolidated sales growth could be 9% to 11% and consolidated sales could be Rs. 5,100 to 5,200 crore. We are confident of delivering the same. We expect growth of 11% to 12% in Abrasives, 12% to 14% in Ceramics as told earlier. We maintain the same stands for Electro Minerals as well, a growth of 5% to 6%. Abrasive India growth would be 9% to 11%. We expect the second half to be better. All the projects that we plan to execute are in line and we are confident of what we guided in the last call.”

Despite management optimism, ICICI Securities has downgraded the stock to a “Sell” rating with a target price of Rs 1,450. The brokerage highlights that due to its well-diversified and large product basket, the firm is a key beneficiary of the increased focus on hi-tech manufacturing in the domestic market. However, with near-term headwinds in mind, the brokerage has maintained Its target price and now values the stock at 36x FY26 EPS.

5. Torrent Power:

This electric utilities company surged 16.5% to its all-time high of Rs 1,908 per share on 31 July, the day after its Q1FY25 results. The company’s net profit grew by 88% YoY to Rs 972.2 crore, beating Forecaster estimates by 50.1% while its operating revenue rose by 22.9% YoY to Rs 9,110 crore, largely driven by higher merchant power sales of 1.7 billion units (vs. 400 million units YoY).

During the quarter, the company reported a sales growth of 65% YoY in the generation segment from Rs 2,229.3 crore in Q1FY24 to Rs 3,677.6 crore in Q1FY25. Its transmission and distribution segment grew 4.7% YoY to Rs 6,934.3 crore while its renewables segment grew 5.5% YoY.

The company also signed a memorandum of understanding (MoU) with AIA Engineering and Torrent Urja 16 to supply renewable energy. This agreement involves developing and setting up hybrid projects with a capacity of up to 33 MW in Gujarat. The power will be supplied to AIA's production units through open access from the TU16 project.

Saurabh Mashruwala, Chief Financial Officer of the company said, “The current electricity market conditions are favorable for generators like us, given sufficient capacity and the lack of recent major investments in thermal power. We expect to reach 5 GW of renewable energy capacity in the next two to three years.” The company is capitalizing on these favorable conditions by investing in the development of two major transmission projects. The first, the Khavda Transmission Project, which has a return on equity of 15% and is expected to cost more than Rs 800 crores. Second is the Solapur transmission project which will involve an investment of Rs 470 crores.

ICICI Securities maintains a ‘Hold’ rating on the stock with a target price of Rs 1,825. The brokerage does not expect contribution to decline in the next three quarters, leading to moderation in quarterly profit, and expects EBITDA margin to be 17.1% in FY25 and 18.7% in FY26.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations.

Trendlyne Marketwatch
Trendlyne Marketwatch
09 Aug 2024
Market closes higher, IRB Infrastructure's revenue rises 13.4% YoY to Rs 1,852.9 crore in Q1FY25
By Trendlyne Analysis

Nifty 50 closed at 24,367.50 (250.5, 1.0%) , BSE Sensex closed at 79,705.91 (819.7, 1.0%) while the broader Nifty 500 closed at 22,923.50 (217.8, 1.0%). Market breadth is in the green. Of the 2,226 stocks traded today, 1,304 were in the positive territory and 871 were negative.

Indian indices maintained their gains from the afternoon session and closed in the green. The volatility index, Nifty VIX, fell 7.6% and closed at 15.3 points. Trent closed around 12% higher as its revenue rose 56.2% YoY to Rs 4,104.4 crore in Q1FY25. Net profit surged 134.7% YoY to Rs 571 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green following the benchmark index. Nifty Media and Nifty Realty closed higher. According to Trendlyne’s sector dashboard, Retailing emerged as the best-performing sector of the day, with a rise of 3.7%.

European indices traded mixed, while most Asian indices closed in the green. US index futures traded sharply higher, indicating a positive start to the trading session. Disney announces plans to spend at least $1 billion every year in the UK, Europe, the Middle East, and Africa over the next five years to produce movies and TV shows. Brent crude oil futures traded marginally lower.

  • Money flow index (MFI) indicates that stocks like Cera Sanitaryware, Piramal Pharma, Aster DM Healthcare and KFIN Technologies are in the overbought zone.

  • Cholamandalam Financial Holdings rises sharply as its net profit grows by 47.6% YoY to Rs 548.4 crore in Q1FY25. Revenue increases by 34.3% YoY to Rs 7,677.4 crore owing to improvements in the financing and insurance segments. It shows up in a screener of stocks with increasing revenue for the past four quarters.

  • IRB Infrastructure's revenue grows 13.4% YoY to Rs 1,852.9 crore in Q1FY25, driven by strong performance in the construction and BOT/TOT project segments. Net profit rises 4.6% YoY to Rs 140 crore during the quarter. It appears in a screener of stocks increasing revenue every quarter for the last four quarters.

  • Grasim Industries' Q1FY25 net profit drops 23.3% YoY to Rs 1,207.9 crore. However, revenue rises 8.9% YoY to Rs 33,860.7 crore during the quarter, driven by higher sales in cellulosic fibres and financial services segments. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Mahindra & Mahindra reportedly seeks approval from the government to form a JV worth $3 billion with China-based Shaanxi Automobile Group. The new entity, proposed to be set up in Gujarat, will manufacture cars for export.

  • Zydus Lifesciences rises to its all-time high of Rs 1,324.3 per share as its net profit grows 30.6% YoY to Rs 1,419.9 crore in Q1FY25, helped by lower raw material costs. Revenue increases by 21.2% YoY to Rs 6,270.7 crore, driven by improvements in the India formulations, US formulations, and active pharmaceutical ingredient (API) segments. It features in a screener of stocks with growth in quarterly net profit and profit margin (YoY).

  • Foreign institutional investors sell equity worth Rs 12,925.7 crore in the market over the past week, according to Trendlyne's FII dashboard. Index options witness the highest inflow of Rs 1.3 lakh crore from foreign investors. Meanwhile, mutual funds are net buyers in the equity market, pulling out Rs 9,241.3 crore during the same period.

  • Trent surges as its revenue rises 56.2% YoY to Rs 4,104.4 crore in Q1FY25, beating Forecaster estimates by 7.1%. Net profit grows 134.7% YoY to Rs 571 crore during the quarter due to reduced finance costs and changes in inventory. It appears in a screener of stocks with growth in net profit and increasing profit margin QoQ.

  • JP Morgan upgrades Lupin to ‘Overweight’ with a target price of Rs 2,400. The brokerage believes there is more room for growth despite its recent outperformance. The outperformance is led by improving momentum in the US business, new product launches, and a stable pricing environment.

  • Bayer Cropscience falls as its Q1FY25 net profit drops 22.6% YoY to Rs 254.2 crore. Revenue declines 6.2% YoY to Rs 1,631.2 crore during the quarter, driven by delayed monsoons and low reservoir levels. The company appears in a screener of stocks, with cash flow from operation improving over the past two years.

  • Biocon's Q1FY25 net profit grows by 6.5x YoY to Rs 659.7 crore due to exceptional gains of Rs 1,135 crore from the sale of its metabolic, oncology and critical care products businesses. Revenue rises by 29.9% YoY to Rs 4,567.4 crore during the quarter. It shows up in a screener of stocks outperforming their industries in the past quarter.

  • Ircon International falls as its Q1FY25 revenue drops 15.8% YoY to Rs 2,287.1 crore due to lower sales from international and domestic customers. However, net profit rises 19.6% YoY to Rs 224 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Pranav Amin, MD of Alembic Pharmaceuticals, highlights the company’s target to launch over 20 products in the US in FY25. He projects over 20% growth in the animal business. Amin expects margins to improve in FY25, with a target of reaching 18-20% in the coming years.

  • Ola Electric's shares make a flat debut on the bourses at Rs 76. The Rs 6,145.6 crore IPO has received bids for 4.3 times the total shares on offer.

  • Sobha's revenue falls 29.5% YoY to Rs 640.4 crore in Q1FY25 due to weak performance in the real estate segment. Net profit decreases by 49.7% YoY to Rs 6.1 crore during the quarter. It shows up in a screener of stocks underperforming their industry price change during the quarter.

  • NBCC (India) rises sharply as it secures a Rs 15,000 crore work order from Srinagar Development Authority to develop a 406-acre Satellite Township at Rakh-e-Gund Akshah, Srinagar (J&K).

  • Fundraising in India picked up pace in July, as ten companies raised Rs 21,800 crore through qualified institutional placements (QIPs). This is the highest amount since September 2020, when six QIPs collected Rs 39,032 crore. Vedanta's QIP was the largest during the month, raising around Rs 8,500 crore.

  • Steel Authority of India (SAIL) falls as its net profit declines by 61.5% YoY to Rs 81.8 crore in Q1FY25 due to allowances to executive employees of Rs 311.8 crore. Revenue decreases by 2.6% YoY to Rs 24,274.2 crore due to lower sales from the Bokaro and Salem steel plants. It appears in a screener of stocks in the sell zone based on days traded at the current PE.

  • Nexus Select Trust REIT falls sharply as Global PE firm Blackstone reportedly plans to divest a 21.8% stake through a Rs 4,455 crore block deal at an average price of Rs 135 per unit.

  • Cochin Shipyard surges as its Q1FY25 net profit rises 76.6% YoY to Rs 174.2 crore. Revenue grows 62.1% YoY to Rs 771.5 crore during the quarter, driven by higher sales in the shipbuilding and ship repair segments. The company appears in a screener of stocks with the highest recovery from their 52-week lows.

  • Mutual Funds' net inflows in July were at Rs 1.9 lakh crore vs net outflows of Rs 43,636 crore in June, according to data released by the Association of Mutual Funds in India (AMFI). The net AUM of the industry stands at 64.9 lakh crore during the same period.

  • Oil India rises sharply as its net profit grows by 32.2% YoY to Rs 1,885.8 crore in Q1FY25. Revenue increases by 45.7% YoY to Rs 9,581.8 crore owing to improvements in the crude oil, natural gas, refinery products, LPG, pipeline transportation, and renewable energy segments. It shows up in a screener of stocks with rising net cash flow for the last two months.

  • Container Corp of India falls as its Q1FY25 net profit misses Forecaster estimates by 20.3%, despite rising 5.1% YoY to Rs 258.2 crore. Revenue grows 9.4% YoY to Rs 2,103.1 crore during the quarter. The company appears in a screener of stocks, with RoCE improving over the past two years.

  • Eicher Motors rises sharply as its net profit grows by 19.9% YoY to Rs 1,101.5 crore in Q1FY25. Revenue increases by 10.5% YoY to Rs 4,675 crore, helped by an increase in sales from Royal Enfield and commercial vehicles. It appears in a screener of stocks with increasing revenue for the past eight quarters.

  • Life Insurance Corp of India is rising as its Q1FY25 net profit grows by 9.6% YoY to Rs 10,461.1 crore, helped by a return of Rs 163.5 crore from provisions from doubtful debts. Revenue increases by 11.7% YoY to Rs 2.1 lakh crore, driven by improvements in first-year premium, new business premium, and assets under management (AUM). It features in a screener of stocks near their 52-week highs with significant volumes.

  • Upbeat trading today, as Nifty 50 was trading at 24358.20 (241.2, 1%) , BSE Sensex was trading at 79984.24 (1098.0, 1.4%) while the broader Nifty 500 was trading at 22923.10 (217.4, 1.0%)

  • Market breadth is surging up. Of the 1911 stocks traded today, 1635 were on the uptrend, and 248 went down.

Riding High:

Largecap and midcap gainers today include Trent Ltd. (6,275.35, 11.2%), Eicher Motors Ltd. (4,830.60, 5.5%) and CG Power and Industrial Solutions Ltd. (713.20, 5.1%).

Downers:

Largecap and midcap losers today include Steel Authority of India (SAIL) Ltd. (129.35, -5.9%), Rail Vikas Nigam Ltd. (518.15, -3.8%) and Hindustan Petroleum Corporation Ltd. (376.65, -3.2%).

Volume Shockers

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

Top high volume gainers on BSE included Authum Investment & Infrastructure Ltd. (1,404, 14.2%), Trent Ltd. (6,275.35, 11.2%) and NBCC (India) Ltd. (184.79, 9.3%).

Top high volume losers on BSE were Lemon Tree Hotels Ltd. (119.78, -5.1%), Bayer Cropscience Ltd. (6,598.60, -4.7%) and Birla Corporation Ltd. (1,365.10, -4.3%).

Hatsun Agro Products Ltd. (1,224.10, -3.8%) was trading at 17.3 times of weekly average. Prism Johnson Ltd. (165.95, 3.7%) and Esab India Ltd. (6,199.90, -1.8%) were trading with volumes 9.4 and 7.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,998.85, 1.3%), Akzo Nobel India Ltd. (3,333, 1.3%) and Aurobindo Pharma Ltd. (1442, -2.5%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (79, 0.1%).

16 stocks climbed above their 200 day SMA including Prism Johnson Ltd. (165.95, 3.7%) and Mankind Pharma Ltd. (2,136.15, 3.1%). 13 stocks slipped below their 200 SMA including Steel Authority of India (SAIL) Ltd. (129.35, -5.9%) and Lemon Tree Hotels Ltd. (119.78, -5.1%).

Trendlyne Marketwatch
Trendlyne Marketwatch
08 Aug 2024
Market closes lower, MRF's Q1FY25 revenue grows 11.7% YoY to Rs 7,196.5 crore
By Trendlyne Analysis

Markets fell in today's trading. Nifty 50 closed at 24,117 (-180.5, -0.7%) , BSE Sensex closed at 78,886.22 (-581.8, -0.7%) while the broader Nifty 500 closed at 22,705.70 (-143.2, -0.6%). Market breadth is in the red. Of the 2,217 stocks traded today, 944 were in the positive territory and 1,249 were negative.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 24,117 points. The Indian volatility index, Nifty VIX, rose by 2.7% and closed at 16.6 points. The RBI projects India’s GDP growth at 7.2% for FY25 in its Monetary Policy Committee (MPC) meeting. The inflation forecast remains at 4.5% for the year.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red. Nifty High Beta 50 & S&P BSE SME IPO were among the top index gainers today. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a jump of over 0.9%.

Asian indices closed in the red while European indices are trading lower. US index futures traded lower, indicating a cautious start to the trading session. Brent crude oil futures are trading in the red. Yesterday's gains in crude were offset by disappointing economic data from China, the top oil importer, particularly concerning its crude oil imports.

  • Godrej Consumer Products sees a short buildup in its August 29 futures series, with open interest increasing by 13.8% and a put-call ratio of 0.7.

  • The Reserve Bank of India's Monetary Policy Committee (MPC) projects a Consumer Price Index (CPI) inflation rate of 4.5% for FY24-25. The quarterly projections are as follows: 4.4% for Q2, 4.7% for Q3, 4.3% for Q4, and 4.4% for Q1FY26.

  • RBI Governor Shaktikanta Das warns of potential liquidity challenges due to the widening gap between deposit growth and credit expansion. He also notes that SEBI is expected to address concerns about the increasing shift from savings to F&O trading.

  • Maruti Suzuki India falls as it recalls 2,555 Alto K10 vehicles due to a suspected defect in the steering gearbox assembly that may affect steering performance.

  • During the RBI's Monetary Policy Committee (MPC) meeting, Governor Shaktikanta Das highlights that India's forex reserves reached a record high of $675 billion in August, up from $670.9 billion in July. He also notes that the country's external sector remains robust, as indicated by improvements in key indicators.

  • Alembic Pharmaceuticals rises to its all-time high of Rs 1,285 per share as its net profit grows by 11.7% YoY to Rs 134.5 crore in Q1FY25. Revenue increases by 4.4% YoY to Rs 1,563.8 crore, attributed to an improvement in the India branded and US generics segments. It features in a screener of stocks with low debt.

  • KR Choksey maintains its 'Buy' call on Archean Chemical Industries with a higher target price of Rs 943 per share. This indicates a potential upside of 39.1%. The brokerage believes that the company's volume recovery in industrial salt is expected to offset the underperformance in Q1FY25 and contribute to healthy full-year growth. It expects the company's revenue to grow at a CAGR of 34% over FY25-26.

  • Bharat Forge rises sharply as its revenue grows 7% YoY to Rs 4,106.2 crore in Q1FY25, driven by strong performance in the defence segment. Net profit falls 18.3% YoY to Rs 174.6 crore, missing Forecaster estimates by 50.2%. It appears in a screener of stocks increasing revenue every quarter for the last two quarters.

  • According to B&K Securities, Bharti Airtel is well-positioned to capitalise on current industry trends and enhance its market share. The brokerage notes the firm's upcoming growth drivers include expanding in postpaid segments, rural markets, and emerging areas like 5G Fixed Wireless Access Service. Additionally, the firm is on track to generate more than Rs 500 billion in Free Cash Flow (FCF) by FY26.

  • NAVA surges to its all-time high of Rs 968 per share as its Q1FY25 net profit grows 36.2% YoY to Rs 355.7 crore, helped by lower finance costs. Revenue rises by 16.7% YoY to Rs 1,258.4 crore, owing to improvements in the ferroalloys, power, and mining segments. It shows up in a screener of stocks that gained more than 20% in the past month.

  • JSW Energy surges as its wholly-owned subsidiary, JSW Neo Energy, receives a letter of award from Solar Energy Corporation of India to supply 230 megawatt (MW) ISTS connected firm and dispatchable renewable energy.

  • Signatureglobal (India) posts a net profit of Rs 6.8 crore in Q1FY25 compared to a net loss of Rs 7.2 crore in Q1FY24. Revenue increases by 139.2% YoY to Rs 427.9 crore, owing to improvements in pre-sales and collections. It features in a screener of stocks with growth in quarterly net profit and profit margin (YoY).

  • Jefferies reports that among the 128 companies reviewed, earnings downgrades (47%) have surpassed upgrades (40%). Nearly half of the companies analyzed have had 25 earnings estimates reduced. This trend reflects the impact of a challenging summer and recent elections, notably affecting earnings across different sectors.

  • Protean eGov Technologies falls as 12 lakh shares (3.2% stake), amounting to Rs 236 crore, reportedly change hands in a block deal. Standard Chartered Bank is the likely seller in the transaction.

  • Suzlon Energy rises sharply to hit its new all-time high of Rs 73 after 4.8 crore shares (0.4% stake), amounting to Rs 346 crore, reportedly change hands in a block deal. The transaction was executed at an average price of Rs 72 per share.

  • ITD Cementation surges more than 10% as its Q1FY25 net profit surges 91.9% YoY to Rs 100.2 crore. Revenue grows 30.2% YoY to Rs 2,397.4 crore, helped by new orders worth Rs 1,053 crore secured during the quarter. It features in a screener of stocks with improving net profit over the past four quarters.

  • The RBI projects India’s GDP growth at 7.2% for FY25. The inflation forecast remains at 4.5% for the year. The central bank’s MPC increases the UPI limit to Rs 5 lakh per transaction from Rs 1 lakh for tax payments.

  • Ceigall India's shares debut on the bourses at a 4.5% premium to the issue price of Rs 401. The Rs 1,252.7 crore IPO has received bids for 13.8 times the total shares on offer.

  • Phoenix Mills' subsidiary, Astrea Real Estate Developers, acquires a 100% stake in five land-owning entities in Coimbatore for Rs 370.2 crore.

  • BSE rises sharply as its revenue grows by 148.7% YoY to Rs 674.3 crore in Q1FY25 due to higher income from transaction charges, corporate services, treasury, and investments. However, net profit declines 40.1% YoY to Rs 265.1 crore, led by employee benefits, computer technology, clearing & settlement expenses, and SEBI regulatory fees. It shows up in a screener of stocks with quarterly revenue increasing for the past four quarters.

  • The RBI decides to keep the policy repo rate unchanged for the ninth consecutive time at 6.5%, maintaining the 'Withdrawal of Accomodation' stance during the Monetary Policy Committee meeting.

  • MTAR Technologies surges as it secures an export order worth approximately Rs 140 crore ($16.7 million) from Bloom Energy in the clean energy (fuel cells) sector for the execution of power units and their components.

  • Welspun Corp is falling as its Q1FY25 revenue declines by 22.8% YoY to Rs 3,179.6 crore due to a reduction in the steel products segment. However, net profit grows by 50.1% YoY to Rs 248.2 crore, driven by inventory destocking and lower tax expenses. It appears in a screener of stocks with declining net cash flow.

  • Fortis Healthcare falls as Q1FY25 net profit misses Forecaster estimates by 3.2% despite rising 48.5% YoY to Rs 166 crore. Revenue grows 12.2% YoY to Rs 1,858.9 crore during the quarter due to higher sales in the healthcare segment. The company appears in a screener of stocks, with RoCE improving over the past two years.

  • Godrej Consumer Products falls sharply as its revenue declines by 3.1% YoY to Rs 3,408.7 crore in Q1FY25 due to a reduction in the African business. However, net profit grows by 41.4% YoY to Rs 450.7 crore, owing to lower raw materials and employee benefits expenses. It features in a screener of stocks wth high promoter pledges.

  • Nifty 50 was trading at 24,221.80 (-75.7, -0.3%), BSE Sensex was trading at 79,213.61 (-254.4, -0.3%) while the broader Nifty 500 was trading at 22,777.10 (-71.8, -0.3%).

  • Market breadth is horizontal. Of the 1,919 stocks traded today, 897 were on the uptick, and 979 were down.

Riding High:

Largecap and midcap gainers today include Suzlon Energy Ltd. (72.92, 4.8%), MRF Ltd. (1,40,391.55, 4.3%) and Alkem Laboratories Ltd. (5,702.75, 3.5%).

Downers:

Largecap and midcap losers today include Rail Vikas Nigam Ltd. (538.45, -4.8%), LTIMindtree Ltd. (5,338.30, -4.1%) and Shree Cements Ltd. (24,180, -3.7%).

Volume Rockets

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

Top high volume gainers on BSE included Authum Investment & Infrastructure Ltd. (1,274, 18.7%), BASF India Ltd. (7,566.20, 9.1%) and Honasa Consumer Ltd. (496.35, 8.9%).

Top high volume losers on BSE were Lemon Tree Hotels Ltd. (126.24, -9.5%), Balaji Amines Ltd. (2,222.30, -7.0%) and Chemplast Sanmar Ltd. (524.60, -6.6%).

Laxmi Organic Industries Ltd. (267.35, 4.1%) was trading at 14.3 times of weekly average. Route Mobile Ltd. (1,625.40, 8.3%) and Abbott India Ltd. (27,219.70, -3.3%) were trading with volumes 12.1 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

38 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,961.70, 0.8%), Akzo Nobel India Ltd. (3,310, 3.1%) and Alembic Pharmaceuticals Ltd. (1,214, -0.5%).

9 stocks climbed above their 200 day SMA including Route Mobile Ltd. (1,625.40, 8.3%) and Crisil Ltd. (4,471.55, 5.4%). 16 stocks slipped below their 200 SMA including Lemon Tree Hotels Ltd. (126.24, -9.5%) and Balaji Amines Ltd. (2,222.30, -7.0%).

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The Baseline
08 Aug 2024
Which stocks did superstar investors buy in Q1FY25?
By Ruchir Sankhla

Investments by superstar investors like RARE Enterprises, Ashish Kacholia, Sunil Singhania, and Vijay Kedia are closely tracked by investors for valuable insights into the market. Their buys and sells help investors identify interesting sectors and stocks. Here we look at the buys made by these superstar investors during Q1FY25.

(You can now also invest in shadow superstar baskets available on Starfolio, which are updated and rebalanced as per Trendlyne's superstar portfolios).

In Q1, superstar investors made fewer additions and more stake sales, with some only making small increases in stakes and no new buys during the quarter. The chart below shows the changes in superstar investors' current portfolio net worth. Note that net worth reflects both changes in current holdings as well as new buys and sells. 

Some superstars see a fall in their net worth in Q1FY25

The public portfolio of each superstar investor indicates their investing style and preferred approaches. The following chart gives a breakdown of the dominant sectors in each investor’s portfolio. 

Sectors preferred by superstars

Sector preferences vary among superstar investors – RARE Enterprises leans towards the textiles apparels & accessories sector, while Ashish Kacholia and Sunil Singhania favor the general industrials sector. Vijay Kedia’s preferred industry is automobiles & auto components. Dolly Khanna prefers the oil & gas industry, and Porinju Veliyath favors software & services.

RARE Enterprises’ only buy is a minor stake in a healthcare company

Rakesh Jhunjhunwala’s portfolio, currently managed by Rekha Jhunjhunwala and RARE Enterprises, fell by around 10.9% to Rs 46,092.1 crore by the end of Q1FY25. During the first quarter, no new additions were made. RARE Enterprises made just a minor stake increase in healthcare facilities firm Fortis Healthcare by 0.1%. The portfolio now holds a 4.2% stake. Over the past year, the company’s share price has increased by 43.7%. 

Ashish Kacholia adds a new listed company to his portfolio

Ashish Kacholia’s net worth declined by 6.9% to Rs 2,718.5 crore after Q1FY25. During the quarter, the marquee investor added recently listed special consumer servicesAwfis Space Solutions to his portfolio, by buying a 4.8% stake. 

Awfis Space Solutions debuted on the stock exchanges on May 30, 2024. The company’s share price has increased by 64.3% from its listing price. 

During Q1, the ace investor also bought a 0.2% stake in Dhabriya Polywood. He now holds a 6.67% stake in the plastic products company. Kacholia added it to his portfolio in Q2FY24 by purchasing a  6.4% stake. The company’s share price has grown by 70.5% over the past year, outperforming its industry by 27.4 percentage points. 

During Q1, Kacholia also bought a minor stake in Brand Concepts. He now holds 1.6% in the specialty retail company. The company’s share price rose by 65.9% in the past year. 


Ashish Kacholia adds Awfis Space Solutions to his Portfolio

Sunil Singhania’s Abakkus Fund makes no new buys in Q1

Sunil Singhania’s Abakkus Fund saw its net worth fall by 4.2% to Rs 2,711.3 crore after Q1FY25. The fund didn’t make any buys during the quarter. The fund’s activity in  Q4FY24 was also limited, adding just minor stakes to current holdings. Abakkus Fund increased its holdings in household appliances manufacturer, Hindware Home Innovation, to 4.5%.  It also added minor stakes in Shriram Pistons & Rings and IIFL Securities

Vijay Kedia increases stake in an airline company

Vijay Kedia’s net worth increased by 33.6% to Rs 1,659.9 crore after Q1FY25. During the April-June quarter, the ace investor did not add any new stocks to the portfolio and increased his stake in just one company – airlines stock Global Vectra Helicorp, by buying a 1.9% stake. Kedia now owns 4.9% of the company. Over the past year, the company’s share price has increased by 260.4%.

Vijay Kedia buys a 1.9% stake in Global Vectra Helicorp

Dolly Khanna adds five new companies to her portfolio in Q1

Dolly Khanna’s net worth increased by 25.5% after Q1FY25 to Rs 615.7 crore, she publicly holds 21 companies. During Q1, the investor continued to expand her portfolio by adding five new companies and raising stakes in four others. Among her new investments is a 1.6% stake in capital market company Emkay Global Financial Services and a 1% stake in Tinna Rubber and Infrastructure, a specialty chemicals company. She also bought a 1.1% stake each in textile stock Super Sales India, non-ferrous metals company Nile and bank stock Ujjivan Small Finance Bank

Dolly Khanna adds five stocks to her portfolio

During the first quarter, Khanna bought a 0.53% stake inexploration & production companySelan Exploration Technology, taking her holding to 1.56%. She bought a 0.4% stake in breweries & distilleries company Som Distilleries & Breweries and now holds a 1.5% stake. The ace investor added minor stakes in the sugar stockZuari Industries and the housing finance company Repco Home Finance. She now holds 1.9% and 1.2% stakes respectively, in these companies. 

Porinju Veliyath buys a small stake in an IT company 

Porinju Veliyath’s net worth increased by 37.3% to Rs 262.3 crore after Q1FY25. During the first quarter, he increased investments in two companies. The investor bought a 0.4% stake in Aurum Proptech and now holds 4.9% in the IT consulting & software company. In the last one year this company has outperformed its industry by 21%.

Porinju adds minor stakes in Aurum Proptech and TAAL Enterprises

The ace investor also increased his stake in airlines industry company TAAL Enterprise by adding 0.2%, taking his holding to 1.3%. The company has a good durability score of 65. 




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The Baseline
07 Aug 2024
By Satyam Kumar

There are two popular ways to generate returns from stocks: 1) when your capital appreciates with share price growth, and 2) dividends. Investing in dividend-paying stocks gives you a share of a company’s profits through regular cash payments. Such high-dividend stocks serve as reliable sources of income. 

The dividend yield, expressed as a percentage, is the annual dividend payment relative to the stock’s current price. The significance of the dividend yield for a company lies in its ability to attract and retain investors for longer. A higher dividend yield boosts the stock’s appeal, especially for investors looking for a steady income.

It's important to note that the dividend yield isn't a static figure; it changes as the stock price fluctuates. A falling stock price can inflate the dividend yield, a factor investors need to consider when analysing this metric. 

In this edition of Chart of the Week, we will look into sectors and companies with the highest 1-year dividend yield over the past year. The full high dividend screener is here.

Aster DM Healthcare gives a special dividend after sale of its Gulf business

Healthcare facilities company Aster DM Healthcare announced a special dividend of Rs 118 per share from the proceeds after the sale of its Gulf business. Its share price rallied after the company completed the separation of its India and GCC businesses on April 3. The management said the Indian healthcare market looks promising and, after segregation, the company would focus on increasing its footprint in India. 

Through both greenfield and brownfield opportunities, the company aims to take its total bed count in India to more than 6,600 in the next three years. The expansion plan will encompass the upcoming Aster Capital in Trivandrum, and Aster MIMS Kasargod projects, and adding bed capacity to existing hospitals. The healthcare company will also be looking at potential markets such as Maharashtra and Uttar Pradesh – while UP is a demographically younger market compared to South India, it is highly underserved when it comes to health facilities. The capital allocation for this expansion is in the range of Rs 1,000 crore.

Indian Oil & its subsidiary Chennai Petroleum Corp. deliver the highest dividend yield among oil & gas companies

The oil & gas sector had a dividend yield of 1.7% in the past year. Companies in the lead are Indian Oil Corporation, Chennai Petroleum Corporation and Bharat Petroleum with dividend yields of 7.2%, 6.1% and 3.8% respectively. It is important to note here that central public sector enterprises must pay a minimum annual dividend of 30% of profit after tax or 5% of net worth, whichever is higher as per guidelines given in 2020.

In FY24, Indian Oil gave a 4X higher dividend of Rs 12 on a YoY basis, thanks to the cheap Russian crude that boosted gross refining margins over the past year. However, Trendlyne’s Forecaster estimates that the dividend per share will fall to Rs 6.8 in FY25. This is because discounts have almost halved to $3-6/barrel from $8-10/barrel in FY24, mainly due to higher freight and insurance costs because of Ukrainian drone attacks. This is evident in the net profit of oil & gas companies in Q1FY25. Indian Oil saw its net profit decline 75.6% YoY, while Chennai Petroleum’s net profit declined by 35.8% on a YoY basis.

Bharat Petroleum also saw its net profit decline by 73.3% on a YoY basis in Q1FY25. Trendlyne’s Forecaster estimates the company will lower its dividend payout by 35.7% in FY25 compared to that in FY24. However, due to inflationary headwinds and a slowing global economy which might even lead to a recession in the US, crude oil prices are trading below the $80 level. This can be a major tailwind for refining margins and profitability, leading to potentially higher payouts/dividends.

Vedanta’s dividend yield takes a hit, as it aims to deleverage balance sheet

The metals & mining sector on the other hand had a dividend yield of 2.1%. Companies with the highest dividend payout in this sector are Vedanta, Coal India and NMDC with yields of 6.3%, 4.9% and 3.9% respectively. All three companies saw their share price nearly double over the past year.

Contrary to the estimate beating dividend per share payout of Rs 101.5 in FY23, Vedanta missed the FY24 dividend payout estimates by 17.1%. This comes as the debt-heavy mining company works to deleverage its balance sheet via strategic demerger and asset sale. In Q4FY24, the company reduced its debt by 10% on a QoQ basis and improved its net debt to EBITDA ratio to 1.5X from 1.7X.

Meanwhile, the banking & financial services firm had an overall dividend yield of 1% in FY24. The top dividend-paying stocks in this sector are ICICI Securities, UTI Asset Management Company and Ujjivan Small Finance Bank, offering yields of 5.2%, 4.8% and 3.5% respectively.

Among the stocks that made it to the list, only Ujjivan Small Finance Bank’s share price fell over the past year.

It’s worth noting that there are many reasons for companies to pay out dividends. While some aim to distribute profits back to shareholders, others might do so due to a lack of significant expansion plans. Companies that pay dividends are typically considered more stable and financially sound and, historically, dividend stocks have proven to be a safe bet during market downturns.

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The Baseline
07 Aug 2024
Five stocks to buy from analysts this week - August 7 2024
By Divyansh Pokharna

1. Tata Consumer Products:

Motilal Oswal reiterates a ‘Buy’ rating on this tea & coffee company with a target price of Rs 1,380, indicating a potential upside of 15%. In Q1FY25, Tata Consumer Products' revenue grew 15.6% YoY to Rs 4,391 crore. EBITDA margins improved 80 bps YoY led by strong performance in the international beverage segment and higher coffee prices within the unbranded business.

Analysts Sumant Kumar and Meet Jain highlight the acquisitions of Capital Foods and Organic India, which contributed nearly 5% to the company’s revenue. They are optimistic about the company's plans to diversify its product portfolio through the ready-to-drink segment, and its entry into the branded dry fruits market. Additionally, the company plans to digitize its supply chain to improve operational efficiency and cost management.

Kumar and Jain are positive about the management's focus on strengthening the core business and expanding its distribution network. They project a revenue and PAT CAGR of 12% and 20% respectively, over FY25-26.

2. Granules India:

ICICI Direct maintains a ‘Buy’ rating on this pharmaceuticals company with an upgraded target price of Rs 765. This indicates an upside of 16.5%. In Q1FY25, Granules India’s revenue grew 20% YoY to Rs 1,176 crore driven by a 45% increase in US sales, which accounts for 74% of total sales.

The company saw a 90% YoY growth in EBITDA, driven by enhanced margins and a favorable product mix. Analysts Siddhant Khandekar and Shubh Mehta are upbeat about the company's plans to produce essential raw materials in-house to secure its supply chain.They are positive about Granules expanding its product portfolio, particularly in formulations, with a targeted launch of 7-8 products annually in the US. The firm’s Genome Valley plant began operations in March, which increased its production capacity to 2 billion units. 

ICICI Direct projects a revenue CAGR of 12.9% and a net profit CAGR of 37.9% over FY25-26, driven by the company’s emphasis on increasing sales of its formulation products, especially in the US and Europe.

3. NLC India:

Axis Direct initiates a ‘Buy’ rating on this electric utilities company with a target price of Rs 340, indicating a potential upside of 30.2%. In FY24, the company’s net profit rose 32.8% YoY to Rs 1,854,1 crore, missing Forecaster estimates by 7.4%. However, operating revenue fell 19.6% YoY to Rs 12,999 crore.

Analysts Aditya Welekar and Darsh Solanki notes the company’s plans to increase its mining capacity from 50 MTPA to 102 MTPA, thermal power capacity from 4,640 MW to 10,465 MW, and renewable energy capacity from 1,431 MW to 8,059 MW by 2030. These capacity expansions will require a capital expenditure of Rs 1 lakh crore. These efforts aim to diversify cash flows and mitigate risks during the thermal power expansion.

Welekar and Solanki value the conventional thermal business at 1.8 times the FY33 equity projections. They value the regulated mining business at 1.9 times FY26 equity, the renewable energy business at 9.0 times EV/EBITDA on FY26 EBITDA, and the merchant coal business at 7.0 times EV/EBITDA on FY26 EBITDA.

4. Indraprastha Gas:

Sharekhan has a ‘Buy’ rating on this non-electrical utilities company with a target price of Rs 648, indicating a potential upside of 19.4%. In Q1FY25, the company’s net profit fell 7.8% YoY to Rs 481.2 crore but beat Trendlyne’s Forecaster estimates by 11.5%. Its operating revenue rose 3.3% YoY to Rs 3,520.6 crore driven by a 7.4% increase in the sales volume of piped natural gas (PNG), reaching 198.4 million standard cubic meters (scm) compared to 184.7 million scm in Q1FY24.

Analysts note the company’s capex for FY25 is projected to be Rs 1,700-1,800 crore, with around Rs 300 crores spent in Q1FY25. They also highlight the company’s plans to establish 10 new compressed biogas (CBG) plants in FY25, with an estimated project cost of Rs 300-350 crore, shared equally in a joint venture. The company plans to expand its network by adding 90 new CNG stations.

The analysts expect increased consumption from ongoing infrastructure development and the introduction of CNG-compatible bikes to enhance consumption levels. The growth in LNG sales, which benefits from higher margins, also contributes to this optimistic forecast.

5. ICICI Lombard General Insurance:

Geojit BNP Paribas maintains a ‘Buy’ rating on this general insurance company with a target price of Rs 2,331, indicating an upside of 20.5%. In Q1FY25, the company’s gross direct premium income (GDPI) rose 20.4% YoY to Rs 7,688 crore, beating the industry’s 13.3% YoY growth. It appears in a screener of stocks outperforming their industry during the quarter. 

The health segment saw a growth of 28.5% YoY, helped by the launch of a new health insurance solution ‘Elevate’. The analyst remains optimistic about the boost in the retail health business, driven by shifting consumer preferences and improved servicing capabilities. ICICI Lombard has expanded its product offerings with new long-term insurance products for the private car and 2-wheeler segment.

Geojit projects ICICI Lombard’s premium earnings to grow at 16.4% CAGR and net profit CAGR of 25.1% over FY25-26, helped by its strong product mix and demand of its product by customers.


Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

(You can find all analyst picks here)

Trendlyne Marketwatch
Trendlyne Marketwatch
07 Aug 2024
Market closes higher, TVS Motor hits all-time high after revenue rises 14.9% YoY in Q1FY25
By Trendlyne Analysis

Nifty 50 closed at 24,268.50 (276.0, 1.2%), BSE Sensex closed at 79,349.06 (756.0, 1.0%) while the broader Nifty 500 closed at 22817.05 (373.8, 1.7%). Market breadth is surging up. Of the 2,217 stocks traded today, 1,817 were in the positive territory and 373 were negative.

Indian indices maintained the gains from the morning session and closed in the green. The Indian volatility index, Nifty VIX, fell 13.5% and closed at 16.2 points. TVS Motor rose sharply to an all-time high of Rs 2,618 as its revenue increased 14.9% YoY to Rs 10,406.9 crore for Q1FY25 and net profit rose 6.1% YoY to Rs 460 crore during the quarter.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty CPSE and Nifty PSE were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 5.1%.

Asian indices closed in the green. European indices are trading in the green, except Russia’s RTSI and MOEX which are trading in the red. US index futures are trading in the green, indicating a positive start to the trading session. Brent crude oil futures are trading higher.

  • Relative strength index (RSI) indicates that stocks like Granules India, PBCL, Colgate-Palmolive (India), and Ajanta Pharma are in the overbought zone.

  • Venky's (India) surges to its 20% upper circuit as its Q1FY25 net profit grows 3.9x YoY to Rs 75.2 crore, helped by reduced raw materials and finance costs. However, revenue declines by 17% YoY to Rs 818.5 crore due to a decrease in the oilseed segment. It appears in a screener of stocks with price above short, medium and long term moving averages.

  • Pidilite Industries rises sharply as its revenue grows 3.7% YoY to Rs 3,395.4 crore in Q1FY25, driven by strong performance in consumer & bazaar and B2B segment. Net profit rises 20.6% YoY to Rs 571.3 crore during the quarter. It appears in a screener of stocks with book value per share improving in last two years.

  • BASF rises sharply to its all-time high of Rs 6,933.1 as its Q1FY25 net profit rises 95.7% YoY to Rs 220.6 crore due to lower inventory and finance costs. Revenue grows 17.5% YoY to Rs 3,966.9 crore during the quarter. The company appears in a screener of stocks with high momentum scores.

  • Foreign Portfolio Investors (FPIs) invest Rs 32,365 crore ($3.87 billion) in Indian equities in July, marking the second-largest monthly inflow of 2024. The highest inflows this year occurred in March at Rs 35,098 crore, while June saw inflows of Rs 26,565 crore. Vipul Bhowar, Director at Waterfield Advisors, attributes the rebound in FPI inflows to India’s stable political environment, ongoing economic reforms, and appealing market valuations.

  • ICICI Direct keeps its 'Buy' call on Coal India with a higher target price of Rs 650 per share. This indicates a potential upside of 22.8%. The brokerage remains positive on the stock due to healthy volume growth, and diversification efforts in new sunrise spaces. It expects the company's revenue to grow at a CAGR of 7% over FY25-26.

  • PI Industries rises sharply as its revenue grows 8.3% YoY to Rs 2,068.9 crore in Q1FY25, driven by its agrochemicals segment. Net profit rises 17.2% YoY to Rs 448.8 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

  • Gulf Oil Lubricants India rises sharply as its Q1FY25 net profit rises 26.5% YoY to Rs 86 crore due to lower inventory costs. Revenue grows 10.1% YoY to Rs 894 crore during the quarter. The company appears in a screener of stocks with improving cash flow from operation over the last two years.

  • Dilip Asbe, MD and CEO of the National Payments Corporation of India (NPCI), reports that credit card transactions via the Unified Payments Interface (UPI) have reached Rs 10,000 crore. Of this amount, around Rs 100 to Rs 200 crore are attributable to credit line transactions on UPI. He clarifies that these credit lines are pre-approved, short-term, small-ticket loans. Although the adoption of credit lines has been gradual, NPCI is not concerned about the scale of their uptake.

  • Cummins India rises sharply as its net profit grows by 30.8% YoY to Rs 462.6 crore in Q1FY25 owing to reduced inventory and employee benefits expenses. Revenue increases by 4.9% YoY to Rs 2,419.3 crore, helped by an improvement in the engines and lubricants segments. The company's Managing Director, Ashwath Ram, resigns effective August 31 to take on a full-time global role with Cummins USA.

  • TVS Motor rises sharply to an all-time high of Rs 2,618 as its revenue rises 14.9% YoY to Rs 10,406.9 crore for Q1FY25, driven by improvements in its vehicles and financial services segments. Net profit for the quarter rises 6.1% YoY to Rs 460 crore. The stock appears in a screener of stocks outperforming their industry price change during the quarter.

  • AIA Engineering rises sharply as its board of directors approves the buyback of 10 lakh shares at Rs 5,000 per share, totaling Rs 500 crore. The record date is set for August 20.

  • NMDC cuts the price of iron ore lumps by Rs 600, bringing it down to Rs 5,350 per tonne. Similarly, the price of iron ore fines has been reduced by Rs 500, now standing at Rs 4,610 per tonne, down from Rs 5,110 per tonne.

  • Shyam Metalics and Energy's stainless steel sales rise 37% YoY to 5,699 tonnes in July. However, aluminium foil sales decline marginally on a YoY basis to 1,571 tonnes. The company's speciality alloys sales grows 12% YoY, carbon sales decrease by 4% YoY, and sponge iron sales decrease by 4% YoY while that of pellets increase by 2% YoY.

  • Welspun Corp rises after its associate, East Pipes Integrated Company, secures contracts worth Rs 525 crore for manufacturing, supplying and coating steel pipes over a 24-month period.

  • Bosch's revenue increases 3.8% YoY to Rs 4,316.8 crore in Q1FY25, driven by improvements in the automotive and consumer goods segments. Net profit rises by 13.9% YoY to Rs 466 crore during the quarter, helped by inventory destocking. It appears in a screener of stocks with quarterly net profit growth and increasing profit margins.

  • Reports suggest that the Indian government is reassessing its plans for an offer for sale (OFS) of Hindustan Zinc, which is expected to be done in FY25. The government is considering diluting its stake in the company in tranches.

  • Gland Pharma falls sharply as its net profit declines 25.9% YoY to Rs 143.8 crore in Q1FY25 due to higher inventory, employee benefits, and finance costs. However, revenue increases 16.6% YoY to Rs 1,453.1 crore on account of growth in the USA, Europe, Canada, Australia and New Zealand. It shows up in a screener of stocks with negative profit growth and promoters decreasing shareholding.

  • GR Infraprojects emerges as the lowest bidder for establishing a transmission scheme on a build, own, operate, and transfer basis for integration of Tumkur?II REZ in the state of Karnataka.

  • Gujarat Gas' Q1FY25 net profit rises 53.1% YoY to Rs 330.7 crore due to reduction in spot gas prices and increase in volumes. Revenue grows 17.7% YoY to Rs 4,450.3 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Nuvama initiates a 'Buy' rating on JTL Industries with a target price of Rs 303. The brokerage highlights the firm's volume growth, margin expansion, and increased capacity. It projects a strong profit CAGR of 38% for FY25–27, driven by capacity expansion and a better product mix. However, Nuvama also warns of potential risks, including a possible slowdown in the economy or the steel sector and fluctuations in steel prices.

  • Lupin surges to a new 52-week high of Rs 2,030 per share as its net profit rises 77.2% YoY to Rs 801.3 crore in Q1FY25, helped by reduced inventory and finance costs. Revenue increases 17.2% YoY to Rs 5,668.1 crore, driven by a rise in the India, North America, Europe, the Middle East and Africa (EMEA) and active pharmaceutical ingredient (API) businesses. It appears in a screener of stocks with improving return on equity (RoE) over the past two years.

  • Bata India's Q1FY25 net profit rises 62.8% YoY to Rs 174.1 crore. However, revenue falls 1.4% YoY to Rs 944.6 crore due to the elections and extreme heat wave during the last quarter. The company appears in a screener of stocks with increasing profits every quarter for the past 3 quarters.

  • Suzlon Energy rises sharpy as its board of directors approves the acquisition of a 76% stake in Renom Energy Services for a total consideration of Rs 660 crore.

  • Tata Power rises as its Q1FY25 revenue grows by 13.3% YoY to Rs 17,541 crore, driven by an improvement in the generation, renewables and transmission & distribution (T&D) segments. However, net profit remains flat at Rs 971.9 crore due to higher power, fuel, transmission, raw materials and employee benefits expenses. It features in a screener of stocks with improvement in cash flow over the past two years.

  • Markets rise on early trading, Nifty 50 was trading at 24283.55 (291, 1.2%) , BSE Sensex was trading at 79464.49 (871.4, 1.1%) while the broader Nifty 500 was trading at 22728.55 (285.3, 1.3%)

  • Market breadth is overwhelmingly positive. Of the 1895 stocks traded today, 1715 were on the uptrend, and 159 went down.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (616.35, 7.9%), Oil And Natural Gas Corporation Ltd. (327.90, 7.1%) and Cummins India Ltd. (3,766.55, 6.9%).

Downers:

Largecap and midcap losers today include Gland Pharma Ltd. (2,032, -3.6%), Shree Cements Ltd. (25,389.60, -2.7%) and IndusInd Bank Ltd. (1,343.35, -2.7%).

Volume Shockers

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

Top high volume gainers on BSE included BASF India Ltd. (6,933.15, 20%), Cochin Shipyard Ltd. (2,378.25, 3.8%) and VIP Industries Ltd. (448.10, 0.9%).

Top high volume losers on BSE were EIH Ltd. (374.95, -5.5%), Gland Pharma Ltd. (2,032, -3.6%) and Shree Cements Ltd. (25,389.60, -2.7%).

Sapphire Foods India Ltd. (1,648.65, -0.5%) was trading at 8.8 times of weekly average. AIA Engineering Ltd. (4,439.90, -0.5%) was trading with volume 3.3 times weekly average on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks made 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,938.60, 5.4%), Akzo Nobel India Ltd. (3,225.15, 3.9%) and Atul Ltd. (8,021.20, 3.3%).

Stocks making new 52 weeks lows included - IndusInd Bank Ltd. (1,343.35, -2.7%) and Equitas Small Finance Bank Ltd. (79.20, 0.0%).

14 stocks climbed above their 200 day SMA including Alok Industries Ltd. (26.23, 4.6%) and Aster DM Healthcare Ltd. (395.45, 4.3%). 7 stocks slipped below their 200 SMA including EIH Ltd. (374.95, -5.5%) and Bata India Ltd. (1,463.80, -3.4%).