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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    24 Jul 2024
    Market closes lower, KEC International bags orders worth Rs 1,422 crore from India and the USA

    Market closes lower, KEC International bags orders worth Rs 1,422 crore from India and the USA

    By Trendlyne Analysis

    Nifty 50 closed at 24,413.50 (-65.6, -0.3%) , BSE Sensex closed at 80,148.88 (-280.2, -0.4%) while the broader Nifty 500 closed at 22,921.45 (56.3, 0.3%). Market breadth is overwhelmingly positive. Of the 2,162 stocks traded today, 1,684 showed gains, and 459 showed losses.

    Indian indices saw losses in the afternoon session and closed in the red. The volatility index, Nifty VIX, fell 7.8% and closed at 11.8 points. KEC International closed higher as it bagged two orders worth Rs 1,422 crore in the transmission & distribution (T&D) business from India and the USA. 

    Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty IT and Nifty Realty closed in the green. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the top-performing sector of the day, with a rise of 4.4%. 

    Asian indices closed lower, except Sri Lanks’s CSE All-Share index, which closed in the green. European indices traded mixed amid mixed global cues. US index futures traded mixed, indicating a cautious start to the trading session. Tesla’s EV deliveries declined 5% YoY to 443K units in Q2.

    • Relative strength index (RSI) indicates that stocks like Hindustan Unilever, Just Dial, ITC, and India Cements are in the overbought zone.

    • Housing and Urban Development Corp (HUDCO) rises as it signs a memorandum of understanding (MoU) with the Government of Rajasthan. HUDCO will provide financial assistance of up to Rs 1 lakh crore for housing and urban infrastructure projects in Rajasthan over the next five years.

    • Prabhudas Lilladher downgrades JSW Steel to 'Accumulate' with a lower target price of Rs 1,022 per share. This indicates a potential upside of 15.6%. The brokerage believes the company's revenue growth will accelerate by Q3FY25 after commissioning its Vijayanagar and BPSL brownfield projects. It expects revenue to grow at a CAGR of 11.1% over FY25-26.

    • Alembic Pharmaceuticals hits an all-time high of Rs 1,193 after it gets US FDA approval for fluphenazine hydrochloride tablets, used to treat psychotic disorders.

    • Virender Jeet, CEO of Newgen Software, highlights the company's margin target of 22-24% for FY25. He adds that Q1FY25 was seasonally the weakest for the firm. Jeet adds that the India & Middle East business will grow faster than the overall rate, and US deal wins will be key growth drivers.

      Newgen Software

      Q1 is seasonally the weakest for Co

      Will maintain historic growth rates this year

      Expect to hold margin target around 22-24%

      India & Middle East to grow faster than overall rate

      Key To Track: Deal Wins in US
      https://t.co/JmrZSbJEwE

      — Mangalam Maloo (@blitzkreigm) July 24, 2024

    • Federal Bank is rising as its Q1FY25 revenue grows by 25.8% YoY to Rs 7,663.7 crore, driven by strong performance in the treasury and retail banking segments. Net profit increases by 16.7% YoY to Rs 1027.5 crore. The bank's asset quality also improves, with gross and net NPAs declining by 27 bps and 9 bps YoY, respectively.

    • Go Fashion surges as its Q1FY25 net profit rises 9% YoY to Rs 28.6 crore, driven by lower inventory and raw material costs. Revenue rises 15.7% YoY to Rs 220 crore during the quarter. The company features in a screener of stocks with no debt.

    • KEC International rises as it bags two orders worth Rs 1,422 crore in the transmission & distribution (T&D) business from India and the USA. The domestic order is from Power Grid Corp for 765 kV and 400 kV transmission lines, while the export order is for substation structures.

    • India’s business activity accelerates to a 3-month high, with the HSBC flash manufacturing PMI rising to 58.5 in July. The flash services PMI stands at 61.1 during the same period.

      #India's private sector economy continues to expand in July.@PallaviNahata reports ??https://t.co/WFJp0qMDAT

      — NDTV Profit (@NDTVProfitIndia) July 24, 2024

    • MIC Electronics' Chief Executive Officer (CEO) Kalidindi Satyanarayana Raju resigns. The company appoints Rakshit Mathur as his successor, effective August 1, 2024.

    • M&M Financial Services is rising as its net profit grows 38.7% YoY to Rs 497.6 crore in Q1FY25. Revenue increases by 19.7% YoY to Rs 4,354.9 crore during the quarter, driven by strong performance in the core financing segment. It appears in a screener of stocks outperforming their industry price change during the quarter.

    • Sharda Cropchem surges as it reports a net profit of Rs 27.3 crore in Q1FY25, compared to a loss of Rs 88.6 crore in Q1FY24. Revenue rises 23.1% YoY to Rs 804.4 crore during the quarter. The company features in a screener of stocks where mutual funds increased shareholding over the past two months.

    • Himanshu Mody, CFO of Suzlon Energy, expects blended margins in the 17-18% range for FY25. He highlights the company focused on balance sheet consolidation in FY24 and targets execution this year. Mody adds that the energy sector has seen a policy push beyond the budget, and the emphasis on renewable energy has been evident.

      Suzlon says

      ???? FY24 focus was on balance sheet, FY25 focus is on execution
      ???? Guides for blended margins at 17% to 18%
      ???? Industry should add between 4.5 GW to 5 GW, Suzlon share has been approx 30%#StockMarkethttps://t.co/CT8fk8spiI

      — Nigel D'Souza (@Nigel__DSouza) July 24, 2024

    • Adani Green rises as its subsidiary, Adani Renewable Energy, operationalises a 250 MW wind power project in Gujarat. The project features India's largest onshore wind turbines, each with a capacity of 5.2 MW.

    • United Spirits' Q1FY25 profit rises 1.7% YoY to Rs 485 crore, while its revenue increases by 7.6% YoY. EBITDA margin grows 174 bps YoY to 19.5%. The company appears in a screener of stocks outperforming their respective industry over the past year.

    • ICICI Prudential Life Insurance surges to its 52-week high of Rs 689 per share as its net profit grows 8.9% YoY to Rs 225.4 crore in Q1FY25, helped by lower advertisement and publicity expenses. Revenue increases by 8.1% YoY to Rs 25,458.4 crore during the quarter. It shows up in a screener of stocks with a decrease in provisions.

    • ITC reaches a new 52-week high of Rs 510.6 after the Finance Minister keeps taxes unchanged for the tobacco industry in the 2024 Union Budget. Jefferies upgrades the company to a 'Buy' with a higher target price of Rs 585. The brokerage notes that the last tobacco tax hike was 2%, as of February 2023, and this stability will allow ITC firm to focus on volumes with minimal price hikes. It expects GST taxes to remain stable until March 2026.

      #MarketsWithBS | #ITC share price hit a record high of Rs 510.60 as it rallied 4% on the #BSE in Wednesday's intraday trade. ITC stock has gained 10% in two days in an otherwise subdued market.#stockmarketsindia#buzzingstocks#StockMarket#marketshttps://t.co/qCiKytgjBj

      — Business Standard (@bsindia) July 24, 2024

    • Bajel Projects rises sharply as it secures a letter of award worth Rs 586.2 crore from PowerGrid Corp of India. The contract involves supplying goods and services for transmission line TL01, a 765 kilovolt (KV) line from Beawar to Mandsaur, part of Rajasthan's 5.5 gigawatt (GW) renewable energy project.

    • Schaeffler India rises as its net profit rises 6.9% YoY to Rs 253.5 crore in Q1FY25. Revenue increases by 12.8% YoY during the quarter, driven by the automotive technologies and bearings & industrial solutions segments. The company appears in a screener for stocks with no debt.

    • Thyrocare Technologies rises sharply as its net profit grows by 39.7% YoY to Rs 24.2 crore in Q1FY25. Revenue increases by 18.1% YoY to Rs 160.5 crore on the back of an improvement in the diagnostic testing services segment. It shows up in a screener of stocks where mutual funds increased their shareholding over the past two months.

    • Investec re-initiates a ‘Fast Sell’ on Asian Paints and Berger Paints (India). The brokerage foresees no significant improvement in the demand environment. It believes rising competition, inferior product mix, and price cuts will restrict FY25 revenue growth to 2-4% YoY. Investec also sees risks due to higher raw material costs and employee benefit expenses and believes the current valuations do not account for these risks.

      Brokerage Radar | Investec on Paints says, "Do not anticipate material improvement in the demand environment"@Investecpic.twitter.com/cTgCH8Z3kA

      — ET NOW (@ETNOWlive) July 24, 2024

    • Bajaj Finance's net profit rises 13.8% YoY to Rs 3,401.5 crore in Q1FY25, while revenue increases by 28.7% YoY. Net NPA stands at 0.5% as compared to 0.4% in Q1FY24. The company appears in a screener of stocks with increasing shareholding by mutual funds.

    • Al Mehwar Commercial Investments sells a 0.7% stake in Elgi Equipments for approx Rs 154.6 crore in a bulk deal on Tuesday.

    • Torrent Pharmaceuticals falls sharply as its Q1FY25 net profit misses Forecaster estimates by 3%, despite growing by 20.9% YoY to Rs 457 crore. Revenue increases by 9.8% YoY to Rs 2,883 crore, helped by the improvements in Indian, Germany, and Brazil markets. It features in a screener of stocks with increasing revenue for the past four quarters.

    • Hindustan Unilever's net profit grows by 2.2% YoY to Rs 2,610 crore in Q1FY25, helped by a reduction in inventory and employee benefits expenses. Revenue increases 1.8% YoY to Rs 15,694 crore, driven by improvements in the home care, beauty & well-being, and foods & refreshment segments. It appears in a screener of stocks with rising net cash flow and cash from operating activity.

    • Nifty 50 was trading at 24,452.20 (-26.9, -0.1%), BSE Sensex was trading at 80,217.21 (-211.8, -0.3%) while the broader Nifty 500 was trading at 22,880.75 (15.6, 0.1%)

    • Of the 1,888 stocks traded today, 1,452 were on the uptrend, and 397 went down.

    Riding High:

    Largecap and midcap gainers today include IDBI Bank Ltd. (97.50, 12.8%), ICICI Prudential Life Insurance Company Ltd. (694.25, 8.8%) and Life Insurance Corporation of India (1,160.55, 6.8%).

    Downers:

    Largecap and midcap losers today include Godrej Consumer Products Ltd. (1,459.05, -3.8%), Bandhan Bank Ltd. (188.10, -3.8%) and Dabur India Ltd. (634.15, -2.8%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included MMTC Ltd. (102.60, 20%), IDBI Bank Ltd. (97.50, 12.8%) and Castrol India Ltd. (270.55, 9.7%).

    Top high volume loser on BSE was Bandhan Bank Ltd. (188.10, -3.8%).

    V-Guard Industries Ltd. (467.50, 2.8%) was trading at 7.0 times of weekly average. Quess Corp Ltd. (686.40, 6.3%) and United Spirits Ltd. (1,382.85, 3.8%) were trading with volumes 6.6 and 6.2 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    31 stocks overperformed with 52 week highs,

    Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (1,175.40, 8.3%), BASF India Ltd. (5,904.95, 4.2%) and Indus Towers Ltd. (426.15, -1.9%).

    20 stocks climbed above their 200 day SMA including Sonata Software Ltd. (737.65, 7.9%) and Alok Industries Ltd. (27.07, 6.7%). 3 stocks slipped below their 200 SMA including Bajaj Finserv Ltd. (1,579.25, -2.5%) and Capri Global Capital Ltd. (210.75, -1.4%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    23 Jul 2024
    Market closes lower, Long-Term Capital Gains tax up to 12.5%

    Market closes lower, Long-Term Capital Gains tax up to 12.5%

    By Trendlyne Analysis

    Nifty 50 closed at 24,479.05 (-30.2, -0.1%) , BSE Sensex closed at 80,429.04 (-73.0, -0.1%) while the broader Nifty 500 closed at 22,865.20 (-77.5, -0.3%). Market breadth is in the red. Of the 2,165 stocks traded today, 942 were on the uptrend, and 1,205 went down.

    Indian indices extended the losses from the afternoon session and closed in the red. The Indian volatility index, Nifty VIX, fell by 18.4% and closed at 12.6 points. In the Union Budget 2024, the government raised tax on short-term capital gains to 20% from 15%. Tax on long-term capital gains increases to 12.5% from 10%. The Centre has also increased the exemption limit for capital gains to Rs 1.25 lakh per year.

    Nifty Midcap 100 and Nifty Smallcap 100 closed in the red taking cues from the benchmark index. Nifty FMCG and BSE Consumer Durables were among the top index gainers today. According to Trendlyne’s Sector dashboard, Textiles Apparels & Accessories emerged as the best-performing sector of the day, with a jump of over 3.3%.

    Asian indices closed in the red while European indices are trading mixed. US index futures traded lower, indicating a cautious start to the trading session. Brent crude oil futures are trading in the green. Morgan Stanley anticipates that by 2025, the increase in supply from both OPEC and non-OPEC producers, estimated at approximately 2.5 million barrels per day (bpd), will surpass the expected growth in demand.

    • HDFC Asset Management sees a short buildup in its July 25 future series as its open interest rises 18% with a put-call ratio of 0.4.

    • Gland Pharma gets US FDA approval for its latanoprostene bunod ophthalmic solution, used in reduing elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension. It has annual sales of $153 million.

    • SpiceJet rises sharply as its board of directors approves a qualified institutional placement (QIP) of shares worth Rs 3,000 crore.

    • Finance Minister Nirmala Sitharaman announces a significant allocation for PLI for Auto & Auto Components at Rs 73,500 crore, compared to the FY24 revised estimate of Rs 2,484 crore. However, the FAME India allocation stands at Rs 2,672 crore, down from the revised estimate of Rs 4,807 crore in FY24.

      #Budget2024 | PLI for auto & its components at ?3,500 cr vs FY24 RE of ?484 cr#CNBCTV18LIVE#BudgetWithCNBCTV18#GoForGrowthpic.twitter.com/g5Xe4HkHr2

      — CNBC-TV18 (@CNBCTV18Live) July 23, 2024
    • Bata India's board approves the closure of the Southcan unit in Karnataka. The factory contributed around 6.3% of the company's total production capacity in FY24.

    • Paytm rises as it partners with Axis Bank to provide point of sales (POS) solutions and electronic data capture (EDC) devices to the bank and its merchant network. This partnership will expand Paytm's market reach through Axis Bank's merchant base.

    • Steel Strips Wheels falls as its Q1FY25 net profit decreases by 13.9% YoY to Rs 40.4 crore, while revenue drops by 2.1% YoY. The company's EBITDA margin rises 20 bps YoY to 11%. It appears in a screener for stocks with strong annual EPS growth.

    • Finance Minister Nirmala Sitharaman proposes three schemes focused on employment-linked incentives and reveals a Rs 2 lakh crore allocation for job creation over the next five years.

      #UnionBudget2024: Three schemes announced under #Employment-linked #incentive; Rs 2 trillion announced for #job creation https://t.co/wtbE6g2Pg5

      — Economic Times (@EconomicTimes) July 23, 2024
    • Plastic products stocks like Supreme Industries, Astral and Finolex Industries fall in trade after the government increases customs duty on PVC flex banners to 25% from 10%.

    • Chemical stocks like SRF, PI Industries, UPL and Deepak Nitrite are falling in trade as Finance Minister, Nirmala Sitharaman, increases customs duty on ammonium nitrate to 10% from 7.5%.

    • Sanstar's Rs 510.2 crore IPO gets bids for 32.1X the available 3.8 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 19.3X the available 1.9 crore shares on offer.

    • Finance Minister Nirmala Sitharam proposes to increase the security transactions tax (STT) on futures and options of securities to 0.02% and 0.1%. She also proposes to tax income received on the buyback of shares.

      #Budget2024: In a significant blow to F&O traders, Finance Minister #NirmalaSitharaman declared raising the STT rate from 0.01% to 0.02%

      Read here: https://t.co/yKJ4LvIPDu#BudgetDay#UnionBudget2024pic.twitter.com/rZBkNTQrDJ

      — Mint (@livemint) July 23, 202

    • Food stocks like HMA Agro, Zeal Aqua, and Sharat Industries are rising in trade after Finance Minister Nirmala Sitharaman announces plans to promote shrimp farming through NABARD financing and marketing initiatives. She also proposes a customs duty cut on brood stocks, shrimps, and fish feed to 5%.

    • Stocks based in Andhra Pradesh, including NCC, Andhra Cements, and KCP rise after the FinMin announces the Centre will provide Rs 15,000 crore with additional amounts in the coming years. The allocation will also include support for the early completion and financing of the Polavaram irrigation project.

    • The Finance Minister proposes increasing the standard deduction for salaried employees from Rs 50,000 to Rs 75,000 under the new tax regime.

      #Budget2024 | Finance Minister #NirmalaSitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. The Finance Minister further placed increasing the standard deduction for salaried employees from the current ?50,000 to ?75,000 under the new… pic.twitter.com/QgIlbVMpG0

      — The Hindu (@the_hindu) July 23, 2024
    • Telecom equipment manufacturers like ITI, Avantel and Optiemus Infracom are falling in trade as the government increases customs duty on telecom equipment to 15% from 10%.

    • Finance Minister Nirmala Sitharaman announces an allocation of Rs 1,000 crore for space technology development.

    • Finance Minister Nirmala Sitharaman announces the reduction in corporate tax rate on foreign companies from 40% to 35%.

    • The Finance Minister announces revised tax slabs under the new regime. The tax remains ‘Nil’ for income up to Rs 3 lakh, 5% for income between Rs 3-7 lakh, and 10% for income in the Rs 7-10 lakh range. The tax for Rs 10-12 lakh stands at 15%, 20% for Rs 12-15 lakh, and 30% for Rs 15 lakh and above.

      ????????#Modinomics 3.0 - #BudgetWithBT | TAX SLABS REVISED in NEW INCOME TAX REGIME.

      ????????Finance Minister #NirmalaSitharaman announces the revised #NewTaxRegime slabs:-

      Rs 0-3 lakh - NIL
      Rs 3-7 lakh - 5%
      Rs 7-10 lakh - 10%
      Rs 10-12 lakh - 15%
      Rs 12-15 lakh -20%
      Above Rs 15 lakh -… pic.twitter.com/X3X135pcV2

      — Business Today (@business_today) July 23, 2024

    • Agriculture stocks like Kaveri Seed, Insecticides (India), and LT Foods are rising in trade as the government allocates a capex of Rs 1.5 lakh crore.

    • The Finance Minister announces a scheme to facilitate term loans to Micro, Small & Medium Enterprises (MSME) for the purchase of machinery and equipment without collateral or third-party guarantee. She proposes a credit guarantee scheme of Rs 100 crore to the MSME sector.

    • Finance Minister Nirmala Sitharaman proposes reducing customs duties on mobile phones and related components to 15%.

    • The government raises tax on short-term capital gains to 20% from 15%. Tax on long-term capital gains increases to 12.5% from 10%. The Centre also increases the exemption limit for capital gains to Rs 1.3 lakh per year.

      ???? #BudgetSession2024:

      ????Short term capital gains increased from 15% to 20%

      ????Long term cap gains increased from 10% to 12.5%

      ????Limit of exemption for capital gains will be set at Rs 1.25 lakh per year. #Budget#Budget2024#BudgetSession#BudgetWithTNI#BudgetDaypic.twitter.com/FhPdIddFIB

      — TNI (@TNITweet) July 23, 2024

    • Finance Minister Nirmala Sitharaman proposes to cut the customs duty on gold and silver to 6% during the Budget. She also proposes to reduce customs duty on platinum to 6.4%.

    • Defence stocks like Mazagon Dock Shipbuilders, Data Patterns, and Hindustan Aeronautics fall in trade after the government allocation for the sector remains unchanged at Rs 4.6 lakh.

    • Realty stocks like Puravankara, Oberoi Realty, and Unitech surge as the government assigns a Rs 10 lakh crore investment to meet the housing needs of 1 crore urban poor and middle-class families.

    • The Finance Minister announces the fiscal deficit target for FY25 at 4.9%, down from 5.1% during the interim Budget.

      ???? #Breaking | "Fiscal deficit for FY25 further scaled down to 4.9% from 5.1% in interim Budget" announces Finance Minister Nirmala Sitharaman in the #Budget2024 in the Parliament.

      ???? Track #LIVE updates ????https://t.co/ri34ZD8RkD#Budget#Budget2024#NirmalaSitharaman |… pic.twitter.com/rqjjekb06k

      — Moneycontrol (@moneycontrolcom) July 23, 2024

    • Cement & construction stocks like NCC, Alhluwalia Contracts, and Gensol Engineering surge more than 5% as the government assigns a capex of Rs 2.7 lakh crore for rural infrastructure development.

    • Mangalore Refinery & Petrochemicals falls sharply as its net profit plunges 92.8% YoY to Rs 73.2 crore in Q1FY25, due to higher raw materials, excise duty, and employee benefits expenses. However, revenue grows by 9.9% YoY to Rs 27,334.1 crore during the quarter. It shows up in a screener of stocks underperforming their industries over the past quarter.

    • Federal Bank rises as it gets the Reserve Bank of India's approval to appoint Krishnan Venkat Subramanian as the Managing Director and Chief Executive Officer, effective September 23, 2024.

    • The Centre keeps the FY25 capex outlay at Rs 11.1 lakh crore, or 3.4% of the GDP. This is higher than the FY24 revised estimate of Rs 9.5 lakh crore.

      News Alert | Budget 2024: FY25 capex spend seen at Rs 11.11 lk cr, 3.4% of GDP#Budget2024pic.twitter.com/bpKd8aAphI

      — ET NOW (@ETNOWlive) July 23, 2024

    • Suzlon Energy surges to its all-time high of Rs 57.8 per share as its net profit grows by 199.6% YoY to Rs 302.3 crore in Q1FY25, helped by lower finance costs and foreign exchange loss. Revenue increases by 50.1% YoY to Rs 2,044.4 crore, attributed to an improvement in the wind turbine generator segment. It appears in a screener of stocks with reducing debt.

    • RailTel Corp of India rises as it wins an order worth Rs 186.8 crore from the Ministry of Railways to develop HMIS and an integrated empanelled hospital referral portal for Indian Railways.

    • Gensol Engineering surges to its 5% upper circuit as it bags an engineering, procurement, and construction (EPC) order worth Rs 600 crore to set up 116 MW solar projects in Gujarat. The projects will be distributed in 2 locations across the state and are expected to be completed in the next 12 months.

    • Finance Minister, Nirmala Sitharaman announces the provision of Rs 2.66 lakh crore for rural development including rural infrastructure during the Annual Budget.

      ????#Thread: Big Numbers

      Rs 2.66 lakh crore allocated for rural development including rural infrastructure. #BudgetWithNDTVProfit

      Read all #Budget2024 updates: https://t.co/iMFxegxhRI

      Watch live: https://t.co/sM7XHSUPeypic.twitter.com/GVk8hkoKdR

      — NDTV Profit (@NDTVProfitIndia) July 23, 2024

    • SBI Life Insurance buys a 0.8% stake in Can Fin Homes for approx Rs 82.8 crore in a bulk deal on Monday.

    • Ashish Kacholia sells a 0.8% stake in Sastasundar Ventures in Q1FY25. He now holds a 1.1% stake in the company.

    • Coforge's Q1FY25 net profit plunges 40.5% QoQ to Rs 133.2 crore due to higher employee benefits expenses. However, revenue grows by 2.4% QoQ to Rs 2,426.2 crore, driven by an improvement in the Americas and Asia Pacific markets. It features in a screener of stocks with declining return on equity (RoE) over the past two years.

    • Nifty 50 was trading at 24,547.75 (38.5, 0.2%), BSE Sensex was trading at 80,724.30 (222.2, 0.3%) while the broader Nifty 500 was trading at 22,994.90 (52.3, 0.2%).

    • Market breadth is in the green. Of the 1,897 stocks traded today, 1,134 were on the uptrend, and 732 went down.

    Riding High:

    Largecap and midcap gainers today include Titan Company Ltd. (3,466.85, 6.5%), ITC Ltd. (492.20, 5.5%) and Suzlon Energy Ltd. (57.83, 5.0%).

    Downers:

    Largecap and midcap losers today include Rail Vikas Nigam Ltd. (590.30, -5.4%), Indian Railway Finance Corporation Ltd. (194.14, -5.1%) and Macrotech Developers Ltd. (1,369.90, -4.7%).

    Volume Rockets

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

    Top high volume gainers on BSE included AstraZeneca Pharma India Ltd. (7,067.60, 13.1%), C.E. Info Systems Ltd. (2,456.70, 8.7%) and Asahi India Glass Ltd. (697, 8.3%).

    Top high volume losers on BSE were Oberoi Realty Ltd. (1,687.10, -3.3%), Shriram Finance Ltd. (2,739.20, -3.1%) and Laurus Labs Ltd. (430.45, -2.5%).

    Elgi Equipments Ltd. (669.80, -1.6%) was trading at 19.7 times of weekly average. Easy Trip Planners Ltd. (42.24, 5.6%) and NCC Ltd. (337.75, 6.7%) were trading with volumes 13.8 and 11.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    25 stocks took off, crossing 52 week highs,

    Stocks touching their year highs included - Indus Towers Ltd. (434.55, 3.0%), Britannia Industries Ltd. (5,944.75, 1.0%) and Colgate-Palmolive (India) Ltd. (3,168.85, 1.0%).

    13 stocks climbed above their 200 day SMA including Sonata Software Ltd. (683.50, 3.0%) and Procter & Gamble Hygiene & Healthcare Ltd. (16,900, 2.3%). 22 stocks slipped below their 200 SMA including PNB Housing Finance Ltd. (757.40, -4.4%) and ITI Ltd. (295, -2.6%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    22 Jul 2024
    Market closes flat, IDBI Bank's net profit grows 40.4% YoY to Rs 1719.3 crore in Q1FY25

    Market closes flat, IDBI Bank's net profit grows 40.4% YoY to Rs 1719.3 crore in Q1FY25

    By Trendlyne Analysis

    Nifty 50 closed at 24,509.25 (-21.7, -0.1%), BSE Sensex closed at 80,502.08 (-102.6, -0.1%) while the broader Nifty 500 closed at 22,942.65 (89.1, 0.4%). Market breadth is in the green. Of the 2,207 stocks traded today, 1,267 were in the positive territory and 916 were negative.

    Indian indices closed flat after switching between losses and gains throughout the day.  The Indian volatility index, Nifty VIX, rose 4.1% and closed at 15.4 points. The Economic Survey 2024 projects FY25 real GDP growth to be between 6.5% and 7%. The RBI forecasts inflation rates of 4.5% for FY25 and 4.1% for FY26. Additionally, it expects the fiscal deficit to decrease to 4.5% of GDP or lower by FY26.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Pharma and Nifty Auto were among the top index gainers today. According to Trendlyne’s Sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 4.6%.

    Asian indices closed in the red except China’s Hang Seng and FTSE China 50 indices and Indonesia’s IDX Composite. European indices are trading in the green. US index futures are trading in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the red.

    • Money flow index (MFI) indicates that stocks like Hindustan Unilever, Tata Teleservices (Maharashtra), Just Dial, and ITC are in the overbought zone.

    • Bharat Petroleum's Q1FY25 net profit plunges 73.3% YoY to Rs 2,841.6 crore due to higher raw material costs. Revenue remains flat at Rs 1.3 lakh crore, caused by a reduction in the downstream petroleum segment. It features in a screener of stocks with declining net cash flow.

    • IDBI Bank is rising as its net profit grows by 40.4% YoY to Rs 1,719.3 crore in Q1FY25, helped by lower provisions and employee benefits expenses. However, revenue falls by 3.1% YoY to Rs 7,471.3 crore due to a decrease in the corporate banking segment. The bank's asset quality improves as its gross and net NPAs decline by 118 bps YoY and 21 bps YoY, respectively.

    • HG Infra rises as it receives a letter of award (LoA) from East Central Railway for constructing a double-line track in the Deen Dayal Upadhyaya (DDU) division, Bihar. The project, valued at Rs 709.1 crore, is expected to be completed in three years.

    • Sunil Chari, MD & Co-Founder of Rossari Biotech, anticipates institutional cleaning business revenue to reach Rs 250 crore, up from Rs 150 crore YoY, with further growth expected throughout FY25 following a strong Q1. He also highlights a Rs 100 crore capex plan, projected to yield revenues of Rs 400 crore. He adds that the company targets customers in existing and new geographies, and their exports will become key growth drivers.

      Rossari Biotech says

      Guidance in FY25
      ???? Growth in Q1FY25 to continue in FY25
      ????Institutional cleaning biz revenue expected at 250cr vs 150cr (yoy)

      ???? Capex spend lined up is 100cr, which will be able to generate revenues of 400cr#StockMarket#Niftyhttps://t.co/Ye10VzoRvI

      — Nigel D'Souza (@Nigel__DSouza) July 22, 2024

    • Poly Medicure's revenue increases 20.3% YoY to Rs 401.7 crore in Q1FY25. Net profit rises by 18% YoY to Rs 74 crore during the quarter, helped by destocking of inventory. It shows up in a screener of stocks where mutual funds increased their shareholding in the last quarter.

    • Sanstar's Rs 510.2 crore IPO gets bids for 9.6X the available 3.8 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 9.5X the available 1.9 crore shares on offer.

    • Geojit BNP Paribas upgrades Asian Paints to 'Buy' with a higher target price of Rs 3,305 per share. This indicates a potential upside of 12.8%. The brokerage expects double-digit growth in Q2FY25, driven by growth in rural demand and deferred demand from the previous quarter. It expects the company's revenue to grow at a CAGR of 6.9% over FY25-26.

    • Udaya Kumar Hebbar, Managing Director of CreditAccess Grameen, expects AUM growth of 22-24% for FY25. He also projects NIMs in the range of 12.6-12.9%, and credit costs around 2.2-2.4% for the year. Hebbar also highlights that the microfinance sector was impacted due to elections-led restrictions in Q1.

      #OnCNBCTV18 | Credit cost to be at 2.2-2.4% in #FY25

      AUM growth is expected at 22-24% & Net Interest Margin will be at 12.6-12.9% for FY25

      -Udaya Kumar Hebbar, #CreditAccessGrameenpic.twitter.com/n6D1koKmqe

      — CNBC-TV18 (@CNBCTV18Live) July 22, 2024

    • Dodla Dairy surges to its all-time high of Rs 1,346.1 per share as its net profit grows by 85.9% YoY to Rs 65 crore in Q1FY25, helped by lower raw material costs. Revenue increases by 10.6% YoY to Rs 918.5 crore, driven by growth in milk procurement and sales of value-added products. It appears in a screener of stocks with negative to positive growth in sales and net profit, and strong price momentum.

    • JK Cement rises sharply as its net profit grows 61.2% YoY to Rs 184.8 crore in Q1FY25, helped by lower power and fuel expenses. Revenue rises 1.6% YoY to Rs 2,807.6 crore during the quarter. The company appears in a screener of stocks near their 52-week highs.

    • Indian Hotels rises sharply as its net profit grows by 11.7% YoY to Rs 248.4 crore in Q1FY25, helped by lower finance costs. Revenue increases by 5.3% YoY to Rs 1,596.3 crore during the quarter, attributed to an improvement in revenue per average room (RevPAR) in the Taj, Selections, Vivanta, and Ginger segments. It shows up in a screener of stocks with improving return on equity (RoE) over the past two years.

    • Finance Minister Nirmala Sitharaman presented the 2024 Economic Survey today, stating that the fiscal deficit will likely decrease to 4.5% of GDP or below by FY26. The survey forecasts a real GDP growth of 6.5-7% for FY25, with risks balanced. It also highlights core inflation reached a four-year low and a significant decline in the global energy price index during FY24.

      #EconomicSurvey2024 | Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024 in Parliament today.

      The survey projects the FY25 real GDP growth at 6.5-7%, with balanced risks.

      Here are the key figures giving an overview of the Indian economy????

      Track the live… pic.twitter.com/1OwKySaxaK

      — Moneycontrol (@moneycontrolcom) July 22, 2024

    • Oberoi Realty rises sharply as its net profit grows 81.7% YoY to Rs 584.5 crore in Q1FY25. Revenue increases by 54.5% YoY to Rs 1,442 crore during the quarter, driven by strong performance in the real estate and hospitality segments. It shows up in a screener of stocks outperforming their industry price change during the quarter.

    • JSW Energy's Q1FY25 net profit rises 80% YoY to Rs 521.8 crore due to lower expenses. However, revenue falls 1.6% YoY to Rs 2,879.5 crore during the quarter. Its subsidiary, JSW Neo Energy, receives a letter of award (LoA) from Solar Energy Corp of India (SECI) to set up a 500 MW solar power project and a 250 MW / 500 MWh energy storage system.

    • Axis Securities upgrades Infosys to 'Buy' with a higher target price of Rs 1,950 per share. This indicates a potential upside of 7.3%. The brokerage has a positive outlook due to improving macroeconomic outlook, better client engagement, and upgraded guidance. It expects the company's revenue to grow at a CAGR of 8.2% over FY25-26.

    • Morgan Stanley notes pressures in the current crude oil market but anticipates a shift towards surplus next year, with Brent prices in the mid-to-high $70s. The bank foresees tightness through most of Q3CY24, followed by an equilibrium in Q4. This shift is due to decreasing seasonal demand and an increase in OPEC & non-OPEC production.

      Oil market likely to be in surplus next year, Morgan Stanley says https://t.co/22XVyrKIf2pic.twitter.com/34kosY8Cv2

      — Reuters (@Reuters) July 22, 2024

    • HDFC Bank is rising as its net profit grows by 35.3% YoY to Rs 16,174.8 crore in Q1FY25, helped by lower provisions. Revenue increases by 44.8% YoY to Rs 83,701.3 crore, attributable to improvements in the treasury, retail, and wholesale banking segments. However, the bank's asset quality declines as its gross and net NPAs increase by 16 bps YoY and 9 bps YoY, respectively.

    • JSW Steel is falling as its net profit plunges by 63.9% YoY to Rs 845 core in Q1FY25 due to higher mining royalties, employee benefits, finance, and power & fuel expenses. However, revenue grows by 1.3% YoY to Rs 43,107 crore during the quarter. It shows up in a screener of stocks with declining net profit for the past three quarters.

    • Porinju Veliyath buys a 0.4% stake in Aurum Proptech in Q1FY25. He now holds a 4.9% stake in the company.

    • Puneet Chatwal, MD and CEO of Indian Hotels, expects a strong Q2, as wedding dates have moved to July. He affirms there are no signs of a slowdown in the business, and highlights the company’s target of opening 25 hotels and 40 homestays during the year. Chatwal also projects growth of new/reimagined businesses of more than 30% in the coming years.

      #OnETNOW | 'Believe an exceptional Q2 will be there' says Puneet Chatwal of IHCL @TajHotelspic.twitter.com/uDME1EBHYV

      — ET NOW (@ETNOWlive) July 22, 2024

    • Mohnish Pabrai sells a 3.9% stake in Edelweiss Financial Services in Q1FY25. He now holds a 1.2% stake in the company.

    • Ashish Kacholia adds Awfis Space Solutions to his portfolio in Q1FY25. He buys a 4.8% stake in the company.

    • Wipro falls sharply as its revenue declines by 0.7% QoQ to Rs 22,693.5 crore in Q1FY25 due to a reduction in the Americas, Europe, and APMEA markets. However, net profit grows by 5.9% QoQ to Rs 3,003.2 crore, driven by lower raw materials and employee benefits expenses. It appears in a screener of stocks with an increasing trend in non-core income.

    • Reliance Industries is falling as its net profit declines by 5.5% YoY to Rs 15,138 crore in Q1FY25 due to an increase in raw materials, excise duty, employee benefits, and finance costs. However, revenue grows by 11.9% YoY to Rs 2.4 lakh crore, driven by improvements in the oil to chemicals (O2C), oil & gas, retail, and digital services segments. It features in a screener of stocks with declining net cash flow.

    • Nifty 50 was trading at 24,411.50 (-119.4, -0.5%), BSE Sensex was trading at 80,408.90 (-195.8, -0.2%) while the broader Nifty 500 was trading at 22,718.75 (-134.9, -0.6%).

    • Market breadth is sharply down. Of the 1,966 stocks traded today, 427 were on the uptrend, and 1,496 went down.

    Riding High:

    Largecap and midcap gainers today include Indian Hotels Company Ltd. (620.35, 7.4%), PI Industries Ltd. (4,008.10, 4.5%) and Oberoi Realty Ltd. (1,744, 4.4%).

    Downers:

    Largecap and midcap losers today include Wipro Ltd. (505.80, -9.2%), Kotak Mahindra Bank Ltd. (1,757.55, -3.5%) and Reliance Industries Ltd. (3,001.35, -3.5%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Rashtriya Chemicals & Fertilizers Ltd. (235.03, 9.8%), Indian Hotels Company Ltd. (620.35, 7.4%) and Chemplast Sanmar Ltd. (528.85, 5.0%).

    Top high volume losers on BSE were Wipro Ltd. (505.80, -9.2%) and Can Fin Homes Ltd. (845.25, -0.5%).

    JK Cement Ltd. (4,480, 4.6%) was trading at 4.9 times of weekly average. Nippon Life India Asset Management Ltd. (638.75, 0.6%) and Lemon Tree Hotels Ltd. (145.08, 1.6%) were trading with volumes 4.6 and 4.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    14 stocks hit their 52 week highs,

    Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (1,119.10, 3.6%), Bajaj Holdings & Investment Ltd. (9,979, 2.7%) and Colgate-Palmolive (India) Ltd. (3,133.90, 0.4%).

    12 stocks climbed above their 200 day SMA including Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (684.05, 3%) and DCM Shriram Ltd. (1,001.15, 2.7%). 14 stocks slipped below their 200 SMA including Kotak Mahindra Bank Ltd. (1,757.55, -3.5%) and Procter & Gamble Hygiene & Healthcare Ltd. (16,524.55, -1.6%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    19 Jul 2024
    Market closes lower, Infosys' net profit falls by 20.1% QoQ to Rs 6,368 crore while revenue declines by 1.2% QoQ

    Market closes lower, Infosys' net profit falls by 20.1% QoQ to Rs 6,368 crore while revenue declines by 1.2% QoQ

    By Trendlyne Analysis

    Market sinks in today's trading. Nifty 50 closed at 24,530.90 (-270.0, -1.1%) , BSE Sensex closed at 80,604.65 (-738.8, -0.9%) while the broader Nifty 500 closed at 22,853.60 (-356.5, -1.5%). Market breadth is sharply down. Of the 2,151 stocks traded today, 328 showed gains, and 1,807 showed losses.

    Indian indices closed lower after paring gains throughout the day. The volatility index, Nifty VIX, rose 2.1% and closed at 14.8 points. JSW Infrastructure's Q1FY25 net profit dropped by 9.2% YoY to Rs 292.4 crore, while, revenue rose 15% YoY to Rs 1,009.8 crore.

    Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Metal and Nifty Commodities closed more than 3% lower.  According to Trendlyne’s Sector dashboard, Consumer Durables emerged as the worst-performing sector of the day, with a fall of 3.6%.

    European indices traded lower, while major Asian indices closed lower. US index futures traded mixed, indicating a cautious start to the trading session. Netflix reported Q2 earnings of $4.9 per share on revenue of $9.56 billion, topping estimates by 4.3% and 0.3%, respectively.

    • Relative strength index (RSI) indicates that stocks like Tata Teleservices (Maharashtra), Oil And Natural Gas Corp, Glenmark Pharmaceuticals, and Infosys are in the overbought zone.

    • GPT Infraprojects secures a Rs 103 crore enhancement to its existing contracts with the National Highways Authority of India (NHAI) and Eastern Railway Kolkata.

    • Axis Direct retains its 'Hold' rating on Bajaj Auto with an upgraded target price of Rs 9,790 per share. This indicates a potential upside of 3.8%. The brokerage believes the company's expansion of the premium electric two-wheeler and three-wheeler portfolio, leveraging new product launches and the gradual export pick-up, will help increase profitability. It expects net profit to grow at a CAGR of 6.9% over FY25-26.

    • Brent futures rises to $85.1 a barrel, while U.S. West Texas Intermediate (WTI) crude increases to $82.9, following gains from the previous session. Pranav Mer, VP - Research at JM Financial notes crude oil prices have rebounded from recent lows. This recovery was driven by a larger-than-expected decline in U.S. weekly oil stocks, signaling increased demand and bolstered by a weaker U.S. dollar.

      #Oil stabilises as signs of economic slowdown clash with Fed rate cut hopes; brent crude at $85.09/bbl https://t.co/kkxRJl0bwn

      — Mint (@livemint) July 19, 2024
    • Rail Vikas Nigam surges as it signs a memorandum of understanding (MoU) with United Construction, Israel. The partnership aims to collaborate on projects in railways, MRTS, tunnels, highways, bridges, building works, airports, ports, irrigation, power transmission and distribution, and solar & wind sectors.

    • JSW Infrastructure falls as its Q1FY25 net profit drops by 9.2% YoY to Rs 292.4 crore due to a 40% surge in total expenses. However, revenue rises 15% YoY to Rs 1,009.8 crore during the quarter. The company features in a screener of stocks with zero promoter pledge.

    • Sanstar's Rs 510.2 crore IPO gets bids for 2.5X the available 3.8 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 2.8X the available 1.9 crore shares on offer.

    • Ahead of the 2024 Union Budget, JP Morgan remains ‘Overweight’ on the industrials, financials, healthcare, auto, and real estate sectors. The brokerage believes the budget will likely focus on infrastructure and public investment. It adds that this budget could be a stepping stone towards ‘Viksit Bharat’ by 2047.

      #JPMorgan is overweight on industrials, financials, healthcare, autos, real estate and underweight on IT, materials. #Budget2024.@Somaiya_Rucha reports ??https://t.co/zSYUcRxiGG

      — NDTV Profit (@NDTVProfitIndia) July 19, 2024
    • Power Mech Projects secures a Rs 209.5 crore contract from Hindustan Zinc for the operation and maintenance of three captive power plants (CPP), with a capacity of 91.5 MW each, in Chittorgarh, for four years.

    • Ircon International appoints Chairman and Managing Director (CMD) Shri Hari Mohan Gupta as the Chief Executive Officer (CEO), effective 1 July 2024.

    • Zydus Lifesciences falls after the US FDA classifies its Jarod injectables facility as official action indicated (OAI) following an inspection in April that resulted in ten observations.

    • Arnab Banerjee, MD & CEO of Ceat, expects double-digit revenue growth and improved margins in H2FY25. He highlights that natural rubber has touched a 13-year high within a short period and anticipates an impact if the trend continues. He reports that the company's EBITDA margins have declined to 12% in Q1FY25 from 13.2% in Q1FY24.

      CEAT says

      ???? In FY25 expect double digit revenue growth
      ???? Expect margins to improve in H2FY25#StockMarket#Niftyhttps://t.co/GQ0rvNTl5X

      — Nigel D'Souza (@Nigel__DSouza) July 19, 2024
    • One97 Communications is falling as its net loss expands by 135% YoY to Rs 838.9 crore in Q1FY25 due to higher software, cloud, and data centre expenses. Revenue plunges by 33.5% YoY to Rs 1,639.1 crore during the quarter. It appears in a screener of stocks with declining net cash flow.

    • Tata Communications' Q1FY25 net profit falls 12.8% YoY to Rs 332.8 crore due to high network and transmission expenses. However, revenue rises 14.1% YoY to Rs 5,633.4 crore during the quarter. The company features in a screener of stocks where mutual funds increased shareholding over the past two months.

    • Caplin Point Laboratories gets US FDA approval for its ephedrine sulfate injection used to treat clinically important hypotension occurring in the setting of anesthesia. Ephedrine sulfate injection has annual sales of approx $36 million in the US.

    • Ahead of its Q1FY25 results announcement on July 23, 2024, Hindustan Unilever (HUL) is anticipated to benefit from increased rural demand and heightened summer conditions, which likely boosted demand in seasonal product categories. Analysts also expect HUL to capitalise on a projected 'normal' monsoon and reduced impact from past price adjustments, foreseeing a positive trajectory in revenue momentum.

      HUL Q1 preview

      Analysts predict a boost in demand due to surging rural consumption and intense summer weather, especially in seasonal product categories.

      Stay tuned for the results! #MarketsWithBS#HUL#Q1Results#Q1FY25@tiwary_tanmayhttps://t.co/PkOH6YKrgW

      — Business Standard (@bsindia) July 19, 2024
    • Tata Technologies is falling as its Q1FY25 net profit misses Forecaster estimates by 10.9% despite growing by 3% QoQ to Rs 162 crore. However, revenue declines by 2.5% QoQ to Rs 1,292 crore due to a reduction in the services and technology solutions segments. It features in a screener of stocks with medium to low Trendlyne momentum score.

    • Persistent Systems falls sharply as its net profit declines by 2.8% QoQ to Rs 306.4 crore in Q1FY25 due to high employee benefits and finance costs. However, revenue grows by 5.6% QoQ to Rs 2,767.8 crore, helped by improvements in the banking, financial services & insurance (BFSI) and healthcare & life sciences segments. It shows up in a screener of stocks with PE higher than industry PE.

    • Infosys rises to its 52-week high of Rs 1,844 per share as its Q1FY25 net profit beats Forecaster estimates by 1.3% despite falling by 20.1% QoQ to Rs 6,368 crore. Revenue declines by 1.2% QoQ to Rs 40,153 crore due to a reduction in the retail and hi-tech segments. It features in a screener of stocks which gained more than 20% in the past month.

    • Jefferies maintains its ‘Hold’ rating on Havells India with a higher target price of Rs 1,880. The brokerage highlights that Q1 earnings were in line with estimates, with the Llyod segment outpacing the core segments. It cuts its EPS estimates by 1-2% for FY25-27 due to higher capex in FY26-27.

      Brokerage Radar | Jefferies on Havells maintains Hold; hikes target price to Rs 1,880 from Rs 1,800@Jefferies@havellsindiapic.twitter.com/D3VsD8Ej9k

      — ET NOW (@ETNOWlive) July 19, 2024
    • Dolly Khanna sells a 0.7% stake in Deepak Spinners in Q1FY25. She now holds a 1% stake in the company.

    • Radhakishan Damani adds Bhagiradha Chemicals & Industries to his portfolio in Q1FY25. He buys a 3.5% stake in the company.

    • Ashish Kacholia cuts his stake in Barbeque-Nation Hospitality to below 1% in Q1FY25. He held a 1.4% stake in the company in Q4FY24.

    • Dalmia Bharat's Q1FY25 net profit rises 8.5% YoY to Rs 141 crore despite a marginal fall in revenue to Rs 3,671 crore. Profit grows due to lower power & fuel and depreciation & amortization expenses. The company appears in a screener for stocks with low debt.

    • Nifty 50 was trading at 24,742.05 (-58.8, -0.2%), BSE Sensex was trading at 81,367.13 (23.7, 0.0%) while the broader Nifty 500 was trading at 23,108.40 (-101.7, -0.4%).

    • Market breadth is sharply down. Of the 1,903 stocks traded today, 452 were on the uptrend, and 1,424 went down.

    Riding High:

    Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (613.75, 4.7%), One97 Communications Ltd. (458.75, 3.0%) and Infosys Ltd. (1,792.95, 2.0%).

    Downers:

    Largecap and midcap losers today include Persistent Systems Ltd. (4,583.45, -6.4%), Jindal Stainless Ltd. (745.30, -6.3%) and Cummins India Ltd. (3,559.45, -6.3%).

    Volume Rockets

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

    Top high volume gainers on BSE included Tata Teleservices (Maharashtra) Ltd. (102.14, 5.0%), Jubilant Pharmova Ltd. (749.55, 3.1%) and One97 Communications Ltd. (458.75, 3.0%).

    Top high volume losers on BSE were Dalmia Bharat Ltd. (1,818.70, -5.1%), Tata Communications Ltd. (1,788.40, -4.4%) and ZF Commercial Vehicle Control Systems India Ltd. (15,171.50, -3.9%).

    AIA Engineering Ltd. (4,271, 1.1%) was trading at 17.8 times of weekly average. Sheela Foam Ltd. (1,002.50, -1.6%) and Krishna Institute of Medical Sciences Ltd. (2,120.30, -0.7%) were trading with volumes 6.9 and 5.9 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    18 stocks made 52 week highs,

    Stocks touching their year highs included - AIA Engineering Ltd. (4,271, 1.1%), Indus Towers Ltd. (409.50, -2.3%) and Britannia Industries Ltd. (5,875, 0.1%).

    2 stocks climbed above their 200 day SMA including Tata Teleservices (Maharashtra) Ltd. (102.14, 5.0%) and Bajaj Finserv Ltd. (1,640.25, -0.7%). 23 stocks slipped below their 200 SMA including Prism Johnson Ltd. (156.10, -5.6%) and Sonata Software Ltd. (662, -4.7%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    18 Jul 2024
    Market closes higher, Tata Power's subsidiary signs an MoU with NHPC RE for the complete solarization of government buildings

    Market closes higher, Tata Power's subsidiary signs an MoU with NHPC RE for the complete solarization of government buildings

    By Trendlyne Analysis

    Upbeat trading today. Nifty 50 closed at 24,800.85 (187.9, 0.8%) , BSE Sensex closed at 81,343.46 (626.9, 0.8%) while the broader Nifty 500 closed at 23,210.05 (5.8, 0.0%). Market breadth is overwhelmingly negative. Of the 2,160 stocks traded today, 622 were gainers and 1,521 were losers.

    Indian indices extended their gains in the afternoon session and closed at their all-time highs. The volatility index, Nifty VIX, rose 2% and closed at 14.5 points. IDBI Bank closed higher after the RBI issued a 'fit and proper' report, advancing its privatisation process.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty FMCG and Nifty Auto closed higher. According to Trendlyne’s Sector dashboard, Software & Services emerged as the top-performing sector of the day, with a rise of 2%.

    Asian indices closed mixed. European indices traded higher, except Switzerland's SMI and Russia’s RTSI & MOEX, which traded in the red. US index futures traded mixed, indicating a cautious start to the trading session. Warner Bros Discovery reportedly plans to split its digital streaming and studio businesses from its legacy TV networks.

    • India Cements sees a long buildup in its July 25 future series as its open interest rises 38.9% with a put-call ratio of 1.1.

    • Polycab India's Q1FY25 net profit grows marginally by 0.6% YoY to Rs 401.6 crore amid increased expenses on project buyouts and subcontracting costs. Revenue increases 21% YoY to Rs 4,698 crore during the quarter. The company features in a screener of stocks where mutual funds have increased shareholding over the past two months.

    • Grindwell Norton falls as its net profit declines by 3.9% YoY to Rs 93.2 crore in Q1FY25 due to higher inventory and finance costs. However, revenue grows by 5.6% YoY to Rs 721.4 crore, driven by improvements in the abrasives and ceramics & plastics segments. It features in a screener of stocks underperforming their industries in the past quarter.

    • Reports suggest that Aegis Vopak Terminals, a joint venture firm of Aegis Logistics, plans to raise $550-500 million through an initial public offer (IPO) in India. The company is exploring a pre-IPO funding round to set a valuation benchmark.

      #AegisLogistics and Dutch company Vopak-backed joint venture firm Aegis Vopak Terminals is exploring a $3-billion valuation #IPO in India to raise around $500-550 million as it looks to grow its business.

      (@ranjanir_ & @Sneha_S_Shah report)https://t.co/UcqpYtnGMf

      — Mint (@livemint) July 18, 2024
    • Havells India rises as its net profit surges by 42.1% YoY to Rs 407.9 crore in Q1FY25, helped by lower inventory costs. Revenue grows by 20.1% YoY to Rs 5,883.5 crore, driven by an increase in switchgear, cables, lighting & fixtures, electrical consumer durables, and Lloyd consumer segments. It appears in a screener of stocks with growth in quarterly net profit and profit margin (YoY).

    • Central Bank's Q1FY25 net profit rises 110.3% YoY to Rs 879.9 crore, while net interest income increases by 15.4% YoY to Rs 8,334.8 crore, driven by the treasury and retail banking segments. The company features in a screener of stocks with increasing profits every quarter for the past three quarters.

    • Elecon Engineering's Q1FY25 net profit rises marginally by 0.5% YoY to Rs 73.4 crore. However, revenue declines 3.8% YoY to Rs 406.8 crore during the quarter due to lower sales in the transmission equipment segment. The company appears in a screener of stocks with no debt.

    • Sudipta Roy, MD & CEO of L&T Finance, highlights the company's target to increase assets under management (AUM) by Rs 18,000-20,000 crore in FY25. He projects a return on assets (ROA) of 2.6-2.8% and expects credit costs to remain in the 2-2.5% range over the next 2-3 years.

      L&T Finance gives us guidance

      ???? Target AUM addition of ?18000 to ?20000cr in FY25

      ???? Credit cost guidance at 2% to 2.5%

      Return Ratios in the next 2-3 years
      ROA ???? 2.6% - 2.8%
      ROE ????14% - 15%#StockMarket#Nifty@LnTFinancehttps://t.co/gSv42OWkFA

      — Nigel D'Souza (@Nigel__DSouza) July 18, 2024
    • Newgen Software Technologies falls sharply as its net profit plunges by 54.8% QoQ to Rs 47.6 crore in Q1FY25 due to higher employee benefits expenses. Revenue declines by 13.6% QoQ to Rs 337.3 crore, caused by a decrease in the Indian and European, Middle East & African (EMEA) markets. It shows up in a screener of stocks with expensive valuations according to the Trendlyne valuation score.

    • BASF India falls as it sells its flocculants business for mining applications to Solenis, a global specialty chemicals producer based in Delaware, USA. The move is a part of the company's global portfolio optimization plans to focus on core strategic areas.

    • IDBI Bank rises sharply as the RBI issues a 'fit and proper' report on bidders, advancing its privatisation process. This report ensures bidders meet the criteria, moving the long-awaited divestment forward.

    • Rakesh Sharma, Executive Director of Bajaj Auto, highlights that the top players in the industry are witnessing double-digit growth. He expects performance to improve in Q2 compared to Q1FY25, with margins remaining steady due to a better product mix. Sharma also emphasizes the firm’s target to enhance its EV presence.

      #OnCNBCTV18 | ‘Looking to build EV presence with sub-Rs 1 lakh priced #Chetak; #Freedom125 aimed at making significant inroads in 100-125cc segment’ Rakesh Sharma, ED #BajajAuto discusses outlook after a strong Q1 show

      Add, margin will remain around current levels as improving… pic.twitter.com/MvBvne6hrT

      — CNBC-TV18 (@CNBCTV18Live) July 18, 2024
    • Bondada Engineering wins an order worth Rs 59 crore from KPI Green Energy to supply balance of system (BOS) items and services for engineering, procurement, and construction (EPC) works across two locations in Gujarat.

    • Bajaj Electricals' Managing Director and Chief Executive Officer Anuj Poddar tenders his resignation to explore an external opportunity. His resignation is effective from September 30, 2024.

    • Zensar Technologies rises as its US subsidiary acquires BridgeView Life Sciences for a total deal value of $25 million (approx. Rs 209 crore). This acquisition will strengthen its healthcare and life sciences division.

    • Jefferies initiates a ‘Buy’ rating on Muthoot Finance and Manappuram Finance and sets the target price at Rs 2,220 and Rs 270, respectively. The brokerage believes loan growth of the gold NBFCs will improve with higher gold prices, stable competition from banks, and diversification into non-gold segments.

      #Jefferies initiates coverage on #MuthootFinance, #ManappuramFinance with buy rating.

      Read: https://t.co/tz6LV7eMNMpic.twitter.com/QrPrXpDyUL

      — NDTV Profit (@NDTVProfitIndia) July 18, 2024
    • Tata Power's subsidiary, Tata Power Renewable Energy, signs a memorandum of understanding (MoU) with NHPC Renewable Energy for the 100% solarisation of government buildings. The partnership aims to implement rooftop solar projects in the central ministries, states, and union territories.

    • KR Choksey maintains its 'Buy' call on HDFC Life Insurance with an upgraded target price of Rs 765 per share. This indicates a potential upside of 17.9%. The brokerage believes the company's focus on product innovation and expanding distribution capabilities will drive revenue and profitability growth. It expects gross premiums to grow at a CAGR of 11.1% over FY25-26.

    • Aurobindo Pharma's board approves a buyback of up to 51.4 lakh shares for Rs 750 crore. It sets July 30 as the record date for the buyback.

    • CLSA reiterates its 'Underperform' rating on Eicher Motors, setting a target price of Rs 4,157. The brokerage notes the company is experiencing a decline in market share within its segment while competitors are expanding their presence. It highlights that Eicher Motors' recently introduced new motorcycle, Guerrilla 450, is priced higher than similar variants offered by competitors.

      Brokerage Radar | CLSA on Eicher Motors maintains Underperform with target price of Rs 4,157@CLSAInsights@EicherMotorsLtdpic.twitter.com/kZfTDFS9Bx

      — ET NOW (@ETNOWlive) July 18, 2024
    • Alok Industries falls sharply as it posts a net loss of Rs 206.9 crore in Q1FY25 due to higher finance costs. Revenue declines by 28.7% YoY to Rs 1,012.3 crore during the quarter. It appears in a screener of stocks with high interest payments compared to earnings.

    • Techno Electric & Engineering is rising as its board of directors approves the qualified institutional placement (QIP) of shares at a floor price of Rs 1,506.6 crore per share.

    • Ashish Kacholia cuts his stakes in HLE Glascoat and Gravita India to below 1% in Q1FY25. He held 1.4% and 2.2% stakes in the respective companies in Q4FY24.

    • Indian Renewable Energy Development Agency's board of directors approves investing Rs 290 crore for a 10% stake in Upper Karnali Hydro Power, and Karnali Transmission to set up a 900 MW hydropower project in Nepal.

    • LTI Mindtree's net profit rises 3.1% QoQ to Rs 1,133.8 crore in Q1FY25. Revenue grows by 3% QoQ to Rs 9,369.7 crore, driven by improvements in the banking, financial services & insurance (BFSI), technology, media & communications, and manufacturing & resources segments. It features in a screener of stocks with improving cash flow from operations for the past two years.

    • Nifty 50 was trading at 24,567.85 (-45.2, -0.2%), BSE Sensex was trading at 80,540.39 (-176.2, -0.2%) while the broader Nifty 500 was trading at 23,135.45 (-68.8, -0.3%).

    • Market breadth is horizontal. Of the 1,944 stocks traded today, 906 were on the uptrend, and 983 went down.

    Riding High:

    Largecap and midcap gainers today include IDBI Bank Ltd. (92.20, 4.9%), LTIMindtree Ltd. (5,756.90, 3.5%) and Tata Consultancy Services Ltd. (4,315.55, 3.3%).

    Downers:

    Largecap and midcap losers today include Trent Ltd. (5,308.50, -6%), Hindustan Aeronautics Ltd. (5,015.75, -5.9%) and CG Power and Industrial Solutions Ltd. (689.30, -5.7%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Just Dial Ltd. (1,242.10, 20%), Tata Teleservices (Maharashtra) Ltd. (97.31, 19.7%) and India Cements Ltd. (344.75, 6.7%).

    Top high volume losers on BSE were Hindustan Aeronautics Ltd. (5,015.75, -5.9%), CG Power and Industrial Solutions Ltd. (689.30, -5.7%) and Dixon Technologies (India) Ltd. (11,945.85, -4.8%).

    Esab India Ltd. (6,634.50, 5.0%) was trading at 21.8 times of weekly average. Sundram Fasteners Ltd. (1,401.30, 1.4%) and Torrent Power Ltd. (1,542.70, -0.2%) were trading with volumes 13.5 and 10.2 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    30 stocks made 52 week highs,

    Stocks touching their year highs included - BASF India Ltd. (5,500, -2.3%), Indus Towers Ltd. (418.95, 3.0%) and Britannia Industries Ltd. (5,871.50, 0.2%).

    6 stocks climbed above their 200 day SMA including Tata Teleservices (Maharashtra) Ltd. (97.31, 19.7%) and Bajaj Finserv Ltd. (1,651.25, 2.6%). 8 stocks slipped below their 200 SMA including Crisil Ltd. (4,314, -3.3%) and Laxmi Organic Industries Ltd. (260.65, -2.0%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    16 Jul 2024
    Market closes higher, Bajaj Auto's net profit grows 18.1% YoY to Rs 1,941.8 crore in Q1FY25

    Market closes higher, Bajaj Auto's net profit grows 18.1% YoY to Rs 1,941.8 crore in Q1FY25

    By Trendlyne Analysis

    Nifty 50 closed at 24,613 (26.3, 0.1%) , BSE Sensex closed at 80,716.55 (51.7, 0.1%) while the broader Nifty 500 closed at 23,204.25 (-5.6, 0.0%). Market breadth is neutral. Of the 2,160 stocks traded today, 1,061 were on the uptrend, and 1,080 went down.

    Indian indices closed in the green, after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, rose 0.3% and closed at 14.2 points. Bajaj Auto’s net profit grew 18.1% YoY to Rs 1,941.8 crore in Q1FY25. Revenue increases by 15% YoY to Rs 12,267.4 crore, helped by improvements in the automotive and financing segments. 

    Nifty midcap 100 closed in red, however Nifty Smallcap 100 closed in the green taking cues from the benchmark index. BSE Realty Index and S&P BSE Midsmallcap were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecom Services emerged as the best-performing sector of the day, with a jump of over 1.9%.

    Asian indices closed in the green while European indices are trading lower. US index futures traded higher, indicating a positive start to the trading session. Brent crude oil futures are trading down by 0.7%. Investment Bank, Roth MKM reduced its 2024 oil price forecast due to increased geopolitical risks and decreasing global oil inventories.

    • Money flow index (MFI) indicates that stocks like Lupin, Rail Vikas Nigam, Dr. Reddy's Laboratories, and ITC are in the overbought zone.

    • Tanla Platforms, Central Bank of India, Persistent Systems, and Infosys rise by 6%, 5.3%,5.1% and 3.8% respectively over the past week, ahead of their Q1FY25 results on Thursday.

    • Hatsun Agro rises sharply as its Q1FY25 net profit rises 62.9% YoY to Rs 130.5 crore, helped by lower expenses. Revenue increases 10.4% YoY to Rs 2,375.1 crore during the quarter. The company appears in a screener of stocks with new 52-week highs today.

    • Tamil Nadu Newsprint And Papers appoints Sandeep Saxena as Chairman and Managing Director of the company, effective July 3, 2024.

    • Ahead of the FY25 Budget, the Defence Ministry takes a significant step towards achieving self-reliance in the industry by unveiling a fifth positive indigenisation list (PIL) for Defence Public Sector Undertakings (DPSUs). This list, exclusively sourced from Indian industries, aims to substitute imports valued at Rs 1,048 crore. Key DPSUs participating in this initiative include Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, and BEML.

      Budget 2024 Expectation: #DefenceMinistry unveils list of 346 strategically important items to be ‘Made In India’@Huma_Siddiqui | @ExpressDefence | #Budget2024#UnionBudget#BudgetwithFE#MadeinIndiahttps://t.co/QYgiJm9NbD

      — Financial Express (@FinancialXpress) July 16, 2024

    • DB Corp rises as its net profit grows by 49% YoY to Rs 118 crore in Q1FY25. Revenue increases by 6.5% YoY to Rs 590 crore during the quarter, driven by strong performance in advertising segment. It shows up in a screener of stocks where mutual funds increased their shareholding in the last quarter.

    • Bajaj Auto is rising as its net profit grows 18.1% YoY to Rs 1,941.8 crore in Q1FY25. Revenue increases by 15% YoY to Rs 12,267.4 crore, helped by improvements in the automotive and financing segments. It appears in a screener of stocks with increasing return on capital employed (RoCE) over the last two years.

    • Franklin Templeton MF buys 11 lakh shares in Eris Lifesciences for Rs 109 crore at an average price of Rs 1,000 per share. Meanwhile, individual investor Rakesh Shah sells 20 lakh shares in a block deal, reducing his stake from 4.9% to 3.4%.

    • Bharti Hexacom rises sharply as JP Morgan initiates coverage with an ’Overweight’ rating and a target price of Rs 1,280. It notes the company operates in the underpenetrated regions of Rajasthan and Northeast, with lower teledensity, internet penetration, and postpaid usage. This is positive for the company in terms of stronger subscriber numbers and ARPU (average revenue per user) expansion. The brokerage also expects a 15% tariff hike each in FY25 and FY26 to drive revenue growth.

      .@CNBCTV18Live
      JP Morgan initiates coverage on Bharti Hexacom
      Overweight
      TP Rs1280
      Best India market repair pure-play
      Hexacom operates in two underpenetrated circles of Rajasthan & North east that have lower teledensity, internet penetration & postpaid mix
      Thus it enjoys…

      — Abhishek Kothari ???????? (@kothariabhishek) July 15, 2024

    • One97 Communications is falling as it gets an administrative warning from the Securities Exchange Board of India (SEBI) for related party transactions entered by the company or its subsidiaries with Paytm Payments Bank for FY22.

    • RateGain Travel Technologies partners with Hahnair to improve their airline distribution. This partnership integrates RateGain’s AirGain pricing intelligence with 100 Hahnair partners using H1-Air and X1-Air products.

    • Angel One's net profit grows by 32.6% YoY to Rs 292.7 crore in Q1FY25. Revenue surges by 73.8% YoY to Rs 1,410.1 crore, helped by an improvement in total client base and average daily turnover (ADTO). It appears in a screener of stocks with improving book value per share over the past two years.

    • Indian government bonds (IGBs) see monthly net inflows into the fully accessible route (FAR) securities surge to Rs 90,000 crore since October 2023 after JPMorgan adds it to the Emerging-market Index Global Diversified index on June 28. SBI research forecasts monthly inflows to reach approximately $2 billion over the next nine months, potentially bolstering India’s balance of payment (BoP) surplus.

      ???? Indian Government Bonds now part of #JPMorgan’s Emerging-market Index Global Diversified (GBI-EM GD) as of June 28! Monthly net inflows into FAR securities have hit ?90,000 crore since the October 2023 announcement. #Finance#Investinghttps://t.co/xA8MrHBjAN

      — Mint (@livemint) July 16, 2024

    • Vodafone Idea surges as the Supreme Court of India agrees to consider a plea seeking correction of alleged errors in the computation of adjusted gross revenue (AGR) dues.

    • Unichem Laboratories receives five observations from the US FDA's inspection conducted at its Goa formulation facility.

    • Century Textiles & Industries rises sharply as its subsidiary, Birla Estates, acquires a 5-acre land in Sector 71, Gurugram. The land has a development potential of 10 lakh square feet with an expected revenue of Rs 1,400 crore.

    • According to data from the Commerce Department, India's merchandise exports growth drops to a seven-month low of 2.6% YoY in June, totaling $35.2 billion, reflecting subdued demand abroad. Commerce Secretary Sunil Barthwal, highlights that sustained global growth and a decrease in inflation would support continued trade. However, he cautions that India must remain vigilant against current geopolitical tensions and potential new conflicts.

      India's merchandise exports grew by 2.6% YoY in June, down from 13.5% in May, reflecting subdued global demand. Exports hit a seven-month low at $35.2 billion.#Exports#Indianeconomy#India#economicgrowth@shreyanandi15https://t.co/HMbj2VPFwxpic.twitter.com/zEgQss9AUX

      — Business Standard (@bsindia) July 16, 2024

    • Lupin divests its US Commercial Women's Health Specialty business to Evofem Biosciences for $84 million (approx. Rs 702.2 crore).

    • SpiceJet posts a net loss of Rs 298.6 crore in Q1FY25, compared to a net profit of Rs 110.5 crore in Q1FY24, due to higher aircraft lease rentals and finance costs. Revenue declines by 23.6% YoY to Rs 2,156.6 crore, impacted by the air transport services, and freighter & logistics services segments. It appears in a screener of stocks where promoter holding has reduced by more than 2% QoQ.

    • Zee Entertainment Enterprises' board approves raising Rs 2,000 crore from the market via various routes, including issuing equity shares and qualified institutional placement.

    • Morgan Stanley maintains its ‘Overweight’ rating on Varun Beverages with a target price of Rs 1,701. The brokerage believes an expansion of products and attaining additional rights from PepsiCo are key growth drivers for the company. It highlights that adding a food portfolio in Africa will increase its incremental revenues.

      Brokerage Radar | Morgan Stanley on Varun Beverages maintains Overweight with target price of Rs 1,701@MorganStanleypic.twitter.com/ZTnVWz76yc

      — ET NOW (@ETNOWlive) July 16, 2024

    • Hindustan Unilever rises as it sells its water purification business, Pureit, to AO Smith India Water Products at an enterprise value of $72 million (approx. Rs 601 crore).

    • Dolly Khanna adds Ujjivan Small Finance Bank to her portfolio in Q1FY25. She buys a 1.1% stake in the company.

    • Vijay Kedia buys a 1.9% stake in Global Vectra Helicorp in Q1FY25. He now holds a 4.9% stake in the company.

    • Jio Financial Services is falling as its net profit declines by 5.8% YoY to Rs 312.6 crore in Q1FY25 due to higher employee benefits expenses. However, revenue grows marginally by 0.9% YoY to Rs 417.8 crore during the quarter. It shows up in a screener of stocks where mutual funds decreased their shareholding in the past quarter.

    • Nifty 50 was trading at 24,612.75 (26.1, 0.1%), BSE Sensex was trading at 80,846.06 (181.2, 0.2%) while the broader Nifty 500 was trading at 23,266.85 (57, 0.3%).

    • Market breadth is surging up. Of the 1,901 stocks traded today, 1,528 showed gains, and 352 showed losses.

    Riding High:

    Largecap and midcap gainers today include Life Insurance Corporation of India (1,108.45, 4.5%), Coal India Ltd. (512.45, 3.0%) and Hindustan Petroleum Corporation Ltd. (358.20, 2.9%).

    Downers:

    Largecap and midcap losers today include Zomato Ltd. (217.49, -5.1%), IDBI Bank Ltd. (87.88, -3.9%) and Hindustan Aeronautics Ltd. (5,329.40, -3.2%).

    Movers and Shakers

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

    Top high volume gainers on BSE included Chennai Petroleum Corporation Ltd. (1,212.10, 11.8%), Alembic Pharmaceuticals Ltd. (1,083.45, 10.4%) and Natco Pharma Ltd. (1,281.45, 6.1%).

    Top high volume losers on BSE were Krishna Institute of Medical Sciences Ltd. (2,123.05, -0.6%) and Century Plyboards (India) Ltd. (701.70, -0.1%).

    Jindal Worldwide Ltd. (351.40, 2.2%) was trading at 28.6 times of weekly average. Hatsun Agro Products Ltd. (1,234.45, 4.0%) and Century Textiles & Industries Ltd. (2,218.50, 5.6%) were trading with volumes 15.4 and 9.4 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    37 stocks overperformed with 52 week highs,

    Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (1,083.45, 10.4%), Blue Dart Express Ltd. (8,950, 5.0%) and Britannia Industries Ltd. (5,864.50, 0.9%).

    10 stocks climbed above their 200 day SMA including Devyani International Ltd. (174.37, 2.5%) and Jindal Worldwide Ltd. (351.40, 2.2%). 2 stocks slipped below their 200 SMA including L&T Technology Services Ltd. (4,867.40, -2.5%) and SBI Cards and Payment Services Ltd. (730.90, -1.0%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    15 Jul 2024
    Market closes higher, Ashok Leyland bags an order worth Rs 981.5 crore from MSRTC

    Market closes higher, Ashok Leyland bags an order worth Rs 981.5 crore from MSRTC

    By Trendlyne Analysis

    Nifty 50 closed at 24,586.70 (84.6, 0.4%) , BSE Sensex closed at 80,664.86 (145.5, 0.2%) while the broader Nifty 500 closed at 23,209.85 (114.4, 0.5%). Market breadth is balanced. Of the 2,199 stocks traded today, 1,119 were on the uptick, and 1,057 were down.

    Market closed higher after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, rose 3.4% and closed at 14.2 points. Indian Renewable Energy Development Agency (IREDA) surges to its all-time high as its Q1FY25 net profit grows 30.2% YoY to Rs 383.7 crore and revenue rises 32.1% YoY to Rs 1,510.7 crore.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, taking cues from the benchmark index. Nifty PSU Bank and Nifty Media were among the top index gainers today. According to Trendlyne’s Sector dashboard, Media emerged as the best-performing sector of the day, with a rise of 1.5%.

    Asian indices closed mixed. European indices are trading red except Amsterdam’s AEX and Switzerland's SMI. US index futures are trading in green, indicating a positive start to the trading session. Brent crude oil futures are trading flat.

    • Relative strength index (RSI) indicates that stocks like Oil India, Rail Vikas Nigam, Grasim Industries, and Infosys are in the overbought zone.

    • Bank of Maharashtra rises sharply as its net profit surges by 46.6% YoY to Rs 1,293.5 crore in Q1FY25. Revenue grows by 24.9% YoY to Rs 6,768.6 crore, helped by an improvement in gross advances and deposits. The bank's asset quality improves as its gross and net NPAs decline by 43 bps YoY and 4 bps YoY, respectively. It features in a screener of stocks with rising net cash flow and cash from operating activities.

    • SRM Contractors rises sharply as it signs a Rs 278.5 crore agreement with the National Highways Authority of India (NHAI) to upgrade and strengthen the Nashri-Chenani section of NH-244 via Patnitop in Jammu and Kashmir.

    • Waaree Renewable Technologies rises as it wins an engineering, procurement, and construction work order worth Rs 90.3 crore for a solar power project of 30 MW DC capacity.

    • Zomato rises over 2% following its decision to raise the platform fee per order to Rs 6, a Rs 1 increase. The fee hike will be initially implemented in select regions - Bengaluru and Delhi and is expected to improve the company's profitability.

      Food-delivery majors Swiggy and Zomato have implemented a platform fee hike, raising the charge per order to Rs 6 from the previous Rs 5, marking a 20% increase.#Zomato#Swiggy#fooddeliveryhttps://t.co/rzZNl2A6yjpic.twitter.com/CbJjrUefQ4

      — Business Standard (@bsindia) July 15, 2024
    • PSU bank stocks like Indian Overseas Bank, Bank of Maharashtra, Punjab & Sind Bank, and UCO Bank are rising in trade. The broader sectoral index, Nifty PSU Bank, is also trading in the green.

    • Avenue Supermarts rises as its net profit grows by 17.5% YoY to Rs 773.8 crore in Q1FY25. Revenue increases by 18.5% YoY to Rs 14,110.7 crore during the quarter. It shows up in a screener of stocks with zero promoter pledges.

    • Suven Pharmaceuticals receives Form 483 with two observations from the US FDA following an inspection at its wholly-owned subsidiary, Casper Pharma's facility in Hyderabad.

    • Investec initiates a 'Buy' rating on VIP Industries and Safari Industries (India), setting target prices at Rs 560 and Rs 2,800, respectively. The brokerage predicts robust growth for India's luggage sector, driven by favorable demographics, changing lifestyles, and increased travel emphasizing style and utility. It notes the industry is currently valued at Rs 10,000 crore and is expected to expand by more than 50% to Rs 15,000 crore.

      #VIP, #Safari India get 'buy' rating from Investec as brokerage initiates coverage on the two firms.

      Read more in @MVachhrajani's report: https://t.co/WEadXEQ4Pnpic.twitter.com/BBSCO6VrSW

      — NDTV Profit (@NDTVProfitIndia) July 15, 2024
    • Axis Securities maintains its 'Hold' rating on Tata Consultancy Services with a target price of Rs 4,250 per share. This indicates a potential upside of 1.2%. The brokerage sees strong growth in the long term but anticipates headwinds in H1FY25 due to uncertainties in large economies. It expects the company's revenue to grow at a CAGR of 6% over FY25-26.

    • Hindalco rises as its board approves the sale of its land in Kalwa, Maharashtra, to Birla Estates' wholly-owned subsidiary, Ekamaya Properties. The company will receive Rs 595 crore in multiple tranches over time, along with 1.5% of the sales revenue.

    • Mahanagar Telephone Nigam appoints Ravi A Robert as Chief Managing Director (CMD) of the company, effective today. PK Purwar ceases to be CMD on account of the non-extension of his tenure.

    • India’s WPI inflation jumps to a 16-month high of 3.4% in June, up from 2.6% in May, driven by higher prices of food articles, crude petroleum & natural gas, and mineral oils. Primary articles inflation rises to 8.8%, while fuel & power inflation moderates slightly.

      June #WPI inflation rate at 3.36% vs 2.61% in May.

      For the latest news and updates, visit: https://t.co/by4FF5o0Ewpic.twitter.com/efcfwfz93I

      — NDTV Profit (@NDTVProfitIndia) July 15, 2024
    • Tanla Platforms surges as it signs a commercial agreement with a global tech major to combat scams on its messaging platform using its AI-driven anti-phishing solution, Wisely ATP. Reports suggest the deal has been signed with Meta Platforms-owned WhatsApp.

    • Ashok Leyland is rising as it bags an order worth Rs 981.5 crore from Maharashtra State Transport Corp (MSRTC) to supply 2,104 Viking passenger buses by August 2025.

    • Zen Technologies rises sharply and hits a 5% upper circuit as it launches four AI-powered robots for the global defense market. The IP-owned innovative products are Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640.

    • India’s CPI inflation rises to a 4-month high of 5.1% in June from 4.8% in May. Consumer food price index rises to 9.4%, while fuel and light inflation contracts to 3.7%.

      #BankingCentral ???? #India’s retail inflation hit a four-month high of 5.08% in June from 4.75% a month back????????

      Food inflation has always been tricky to manage????@Dinesh_Unni explains how the food prices will impact rates????https://t.co/jGyWSG1Cch#VegetablePrices#Inflation…

      — Moneycontrol (@moneycontrolcom) July 15, 2024
    • GE T&D India wins a Rs 490 crore order from Power Grid Corp of India to implement unified load dispatch and communication ULDC Phase-III.

    • Indian Renewable Energy Development Agency surges to its all-time high of Rs 310 per share as its net profit grows 30.2% YoY to Rs 383.7 crore in Q1FY25. Revenue increases by 32.1% YoY to Rs 1,510.7 crore during the quarter. It shows up in a screener of stocks with increasing revenue for the past four quarters.

    • Porinju Veliyath buys a 0.2% stake in TAAL Enterprises in Q1FY25. He now holds a 1.3% stake in the company.

    • India’s Index of Industrial Production or IIP grows by 5.9% in May, compared to 5% in April, led by growth in the mining, manufacturing, and electricity sectors.

      #India's industrial production beats estimates; growth seen at 5.9% YoY in Mayhttps://t.co/tjoMwSIgtX

      — Economic Times (@EconomicTimes) July 12, 2024
    • Anil Kumar Goel sells a 4.7% stake in Dhampur Sugar Mills in Q1FY25. He now holds an 8% stake in the company.

    • Ashish Kacholia sells a 0.7% stake in Shaily Engineering Plastics in Q1FY25. He now holds a 9% stake in the company.

    • Sunteck Realty's pre-sales grow 29.7% YoY to Rs 502 crore in Q1FY25, helped by an 18.8% YoY increase in collections to Rs 342 crore. It appears in a screener of stocks with increasing mutual fund holding over the past two months.

    • HCL Technologies rises as its net profit grows by 6.8% QoQ to Rs 4,257 crore in Q1FY25, helped by lower inventory and outsourcing costs. Revenue increases by 0.8% QoQ to Rs 29,160 crore on the back of an improvement in the HCL Software segment. It shows up in a screener of stocks with increasing cash flow from operations for the past two years.

    • Nifty 50 was trading at 24,569.25 (67.1, 0.3%), BSE Sensex was trading at 80,686.54 (167.2, 0.2%) while the broader Nifty 500 was trading at 23,146.55 (51.1, 0.2%).

    • Market breadth is in the green. Of the 1,980 stocks traded today, 1,115 were on the uptick, and 819 were down.

    Riding High:

    Largecap and midcap gainers today include Indian Overseas Bank (68.42, 7.5%), IDBI Bank Ltd. (91.48, 6.4%) and Oil And Natural Gas Corporation Ltd. (322.50, 5.0%).

    Downers:

    Largecap and midcap losers today include Patanjali Foods Ltd. (1,559.85, -2.1%), Tube Investments of India Ltd. (4,072, -2.0%) and Astral Ltd. (2,262.60, -1.7%).

    Movers and Shakers

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

    Top high volume gainers on BSE included Godfrey Phillips India Ltd. (4,734.25, 16.7%), HBL Power Systems Ltd. (629.35, 10.0%) and Indian Overseas Bank (68.42, 7.5%).

    Top high volume losers on BSE were Chalet Hotels Ltd. (789.90, -3.9%), Eris Lifesciences Ltd. (1,015.30, -2.7%) and KPR Mill Ltd. (834.05, -2.6%).

    Tanla Platforms Ltd. (998, 4.7%) was trading at 44.6 times of weekly average. KSB Ltd. (5,036.70, 6.8%) and C.E. Info Systems Ltd. (2,508.55, 3.5%) were trading with volumes 17.0 and 10.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    42 stocks overperformed with 52 week highs,

    Stocks touching their year highs included - Aurobindo Pharma Ltd. (1,374.85, 3.6%), Britannia Industries Ltd. (5,809.70, 0.4%) and Castrol India Ltd. (267.32, 6.3%).

    9 stocks climbed above their 200 day SMA including Tanla Platforms Ltd. (998, 4.7%) and Crisil Ltd. (4,517.90, 4.4%). 6 stocks slipped below their 200 SMA including Jai Balaji Industries Ltd. (852, -2.0%) and Rainbow Childrens Medicare Ltd. (1,209.50, -1.7%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    12 Jul 2024
    Market closes higher, Jio Financial Services receives approval from the RBI to convert into a core investment company

    Market closes higher, Jio Financial Services receives approval from the RBI to convert into a core investment company

    By Trendlyne Analysis

    Markets rose in today's trading. Nifty 50 closed at 24,502.15 (186.2, 0.8%) , BSE Sensex closed at 80,519.34 (622, 0.8%) while the broader Nifty 500 closed at 23,095.45 (90.2, 0.4%). Market breadth is in the red. Of the 2,159 stocks traded today, 803 were on the uptrend, and 1,337 went down.

    Indian indices closed higher after after extending gains throughout the day. The volatility index, Nifty VIX, fell 2% and closed at 13.7 points. Tata Consultancy Services' Q1FY25 net profit fell 3.2% QoQ to Rs 12,040 crore, while revenue rose 1.9% QoQ during the quarter.

    Nifty Smallcap 100 and Nifty Midcap 100 closed flat. Nifty IT and Nifty Media closed higher. According to Trendlyne’s Sector dashboard, Software & Services emerged as the top-performing sector of the day, with a rise of 4.4%.

    European indices traded flat or higher, while major Asian indices closed mixed. Most US index futures traded flat, indicating a mixed start to the trading session. US CPI inflation lowers to 3%in June compared to 3.3% in May. Markets expect a interest rate cut in September by the Federal Reserve, following this reduction in inflation.

    • Manappuram Finance sees a long buildup in its July 25 future series as its open interest rises 16.5% with a put-call ratio of 0.6.

    • IT stocks like Coforge, Tata Consultancy Services, MphasiS, and Wipro rise more than 5% in trade. All constituents of the broader Nifty IT index are also trading in the green, helping it to surge to its all-time high of 39,237.7.

    • Sterlite Technologies secures creditors' and shareholders' approval to demerge its global services business, paving the way for separate entity listing and independent growth opportunities.

    • Foreign institutional investors invest Rs 7,043.3 crore in the equity market over the past week, according to Trendlyne's FII dashboard. Index options witness the highest outflow of Rs 37,046.8 crore from foreign investors. Meanwhile, mutual funds are net buyers in the equity market, injecting Rs 1,897.5 crore during the same period.

    • Nomura expects the Centre will lower its FY25 fiscal deficit target to 5% of GDP from 5.1% announced in the interim budget. Despite additional financial demands from key allies (estimated at around 0.2% of GDP), the Centre will likely manage its fiscal space effectively with a higher RBI dividend (~0.4% of GDP) and a lower FY24 fiscal deficit (~0.2% of GDP). Nomura anticipates no reduction in market borrowing despite the potential fiscal deficit cut.

      #MarketsWithMC | #Nomura predicts the government to lower its #FY25 fiscal deficit target to 5% of #GDP, down from 5.1% announced in the interim budget.

      Read on ?https://t.co/ZKQYwx8zCF#BudgetWithMC#Budget2024#ModiGovernment

      — Moneycontrol (@moneycontrolcom) July 12, 2024
    • Motilal Oswal retains its 'Buy' call on Hindalco Industries with an upgraded target price of Rs 800 per share. This indicates a potential upside of 15.5%. The brokerage expects revenue growth due to increased volumes across geographies and long-term contracts from marquee customers. It expects the company's revenue to grow at a CAGR of 4.4% over FY25-26.

    • Puravankara's Q1FY25 customer collections from the real estate business rise 39% YoY to Rs 965 crore. The company achieves pre-sales of Rs 1,128 crore, marginally higher than Q1FY24.

    • Cyient surges as it establishes a wholly-owned subsidiary to expand its semiconductor business, strengthening its decades of expertise in turnkey Application Specific Integrated Circuits (ASICs).

    • The Society of Indian Automobile Manufacturers (SIAM) reports a 21.3% YoY increase in two-wheeler sales to 16.1 lakh units in June. Passenger vehicle sales rise by 3% YoY to 3.4 lakh units.

      #SIAMJuneData |

      ????Total passenger vehicles up 3% at 3.37 lakh units vs 3.27 lakh units (YoY)
      ????2-wheeler sales up 21.3% at 16.1 lakh units vs 13.3 lakh units (YoY)
      ????3-wheeler sales up 12.3% at 59,544 units vs 53,025 units (YoY) pic.twitter.com/J68Ft0DYLF

      — CNBC-TV18 (@CNBCTV18Live) July 12, 2024
    • Prestige Estates Projects' Q1FY25 sales decline by 22.6% YoY to Rs 3,029.5 crore due to delays in approvals and project launches. However, its collections grow by 6% YoY to Rs 2,916.2 crore, helped by a 16% YoY improvement in average realisation. It appears in a screener of stocks with falling cash flow from operations over the past two years.

    • Utkarsh Small Finance Bank rises as the Reserve Bank of India approves Mirae Asset Mutual Fund to acquire up to 9.9% of the bank's paid-up share capital or voting rights.

    • Anand Rathi Wealth's Q1FY25 net profit rises by 37.9% YoY to Rs 73.2 crore. Its revenue increases by 35.8% YoY to Rs 237.6 crore, helped by strong mutual fund inflows and client additions. The company appears in a screener of stocks with growth in quarterly net profit with increasing profit margin.

    • Adani Ports and Special Economic Zone reportedly plans to increase its investment in Vizhinjam, Kerala, to Rs 10,000 crore ($1.2 billion) to enhance the transshipment container port. The company is actively pursuing major container lines like MSC Mediterranean Shipping Co., A.P. Moller-Maersk A/S, and Hapag-Lloyd to utilize the port facilities.

      #AdaniPorts and SEZ plans to invest $1.2 billion in new #Vizhinjam terminal.

      Read: https://t.co/HCUox7jjOEpic.twitter.com/bMPfGoUnZq

      — NDTV Profit (@NDTVProfitIndia) July 12, 2024
    • Prakash Industries surges as the Ministry of Environment, Forest and Climate Change grants Stage-II approval for the Bhaskarpara coal mine in Chhattisgarh.

    • LT Foods rises to its all-time high of Rs 297.5 per share as it sets up a new manufacturing facility in the United Kingdom (UK). The company commissions this facility to meet the growing demand for premium rice and rice-based food products.

    • Bondada Engineering hits an upper circuit as its arm, Bondada Managed Services, wins an operations and maintenance work order worth Rs 316.8 crore from Reliance Projects & Property Management Service.

    • Vodafone Idea receives shareholders' approval to issue preferential shares valued at Rs 2,458 crore to Nokia and Ericsson. This transaction will grant Nokia a 1.5% stake and Ericsson a 0.9% stake in VIL. The financially constrained telecom company aims to settle vendor payments and strengthen its 5G and 4G network expansion efforts.

      Vodafone Idea gets shareholders' nod for ?2,458 crore preferential issue to Nokia, Ericsson@knvanandhttps://t.co/cIKa0VVE8g

      — CNBC-TV18 (@CNBCTV18Live) July 11, 2024

    • Jio Financial Services receives approval from the Reserve Bank of India to convert into a core investment company from a non-banking financial company.

    • Rashtriya Chemicals surges to its all-time high of Rs 244.9 per share as it places a purchase order worth Rs 514.6 crore with Topsoe A/s to procure a basic engineering design package (BEDP) and supply equipment to expand its Ammonia plant.

    • Dolly Khanna adds Super Sales India to her portfolio in Q1FY25. She buys a 1.1% stake in the company.

    • Investec initiates a ‘Buy’ on Bharti Hexacom and keeps its ‘Hold’ on Bharti Airtel. The brokerage expects annual tariff hikes over the next few years. It believes Bharti Hexacom will benefit from tariff hikes. Investec also notes that telco players need to improve ARPU (average revenue per user) to reduce debt and enhance RoCE.

      Brokerage Radar | Investec on Telecom says, "Believe tariff hike could be an annual affair for the next few years"@Investecpic.twitter.com/Bec1TaNmrD

      — ET NOW (@ETNOWlive) July 12, 2024

    • Vijay Kedia cuts his stake in Talbros Automotive Components to below 1% in Q1FY25. He held a 1% stake in the company in Q4FY24.

    • Ashish Kacholia cuts his stake in Vaibhav Global to below 1% in Q1FY25. He held a 1.1% stake in the company in Q4FY24.

    • Oriental Rail Infrastructure surges to its all-time high of Rs 397.5 per share as its subsidiary, Oriental Foundry, bags an order worth Rs 432.2 crore from Indian Railways for 1,200 wagons.

    • Tata Consultancy Services' Q1FY25 net profit falls 3.2% QoQ to Rs 12,040 crore, in line with Forecaster estimates. Its revenue rises 1.9% QoQ during the quarter. The company appears in a screener for stocks with no debt.

    • Nifty 50 was trading at 24,354.95 (39, 0.2%), BSE Sensex was trading at 80,122.91 (225.6, 0.3%) while the broader Nifty 500 was trading at 23,057.10 (51.9, 0.2%).

    • Market breadth is surging up. Of the 1,932 stocks traded today, 1,435 were on the uptick, and 455 were down.

    Riding High:

    Largecap and midcap gainers today include Oil India Ltd. (614.45, 11.5%), Coforge Ltd. (5,977.65, 7.4%) and Tata Consultancy Services Ltd. (4,183.95, 6.6%).

    Downers:

    Largecap and midcap losers today include Macrotech Developers Ltd. (1,395.80, -5.2%), Indian Oil Corporation Ltd. (167.04, -4.2%) and Schaeffler India Ltd. (3,995.10, -3.6%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Sonata Software Ltd. (710.50, 13.8%), Oil India Ltd. (614.45, 11.5%) and KPIT Technologies Ltd. (1,865.55, 9.1%).

    Top high volume losers on BSE were Aegis Logistics Ltd. (845.85, -4.0%), Anand Rathi Wealth Ltd. (3,995.50, -3.5%) and RHI Magnesita India Ltd. (582.40, -2.8%).

    ITI Ltd. (319.10, 3.4%) was trading at 12.1 times of weekly average. Vinati Organics Ltd. (1,905, 0.3%) and Zensar Technologies Ltd. (769.70, 7.2%) were trading with volumes 9.6 and 8.0 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    34 stocks overperformed with 52 week highs,

    Stocks touching their year highs included - Axis Bank Ltd. (1,317.30, 1.6%), Britannia Industries Ltd. (5,787.05, 0.5%) and Dr. Reddy's Laboratories Ltd. (6,719.45, 1.9%).

    6 stocks climbed above their 200 day SMA including Sonata Software Ltd. (710.50, 13.8%) and Coforge Ltd. (5,977.65, 7.4%). 3 stocks slipped below their 200 SMA including Kama Holdings Ltd. (2,730.50, -1.8%) and CSB Bank Ltd. (363.95, -0.8%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    11 Jul 2024
    Market closes flat, Ahluwalia Contracts bags an order worth Rs 893.5 crore

    Market closes flat, Ahluwalia Contracts bags an order worth Rs 893.5 crore

    By Trendlyne Analysis

    Nifty 50 closed at 24,315.95 (-8.5, 0.0%) , BSE Sensex closed at 79,897.34 (-27.4, 0.0%) while the broader Nifty 500 closed at 23,005.25 (27.6, 0.1%). Market breadth is in the green. Of the 2,161 stocks traded today, 1,282 were on the uptick, and 856 were down.

    Indian indices closed flat after switching between losses and gains throughout the day. The volatility index, Nifty VIX, fell 3% and closed at around 14 points. Ahluwalia Contracts (India) closed 3.6% higher as it secured a Rs 893.5 crore order from the Airports Authority of India to develop Lal Bahadur International Airport in Varanasi.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Bank and Nifty FMCG closed higher. According to Trendlyne’s Sector dashboard, Media emerged as the top-performing sector of the day, with a rise of 1.6%. 

    European indices traded mixed. Most Asian indices closed higher, except India’s Nifty 50 which closed flat. US index futures traded mixed, indicating a cautious start to the trading session. Investors look ahead to the earnings announcements from companies like PepsiCo, Conagra, and Delta Air Lines, scheduled for release later today. Brent crude futures traded higher.

    • Money flow index (MFI) indicates that stocks like Lupin, Rail Vikas Nigam, Dr. Reddy's Laboratories, and Rajesh Exports are in the overbought zone.

    • Indegene shares rise sharply after announcing a strategic collaboration with Microsoft. The partnership aims to scale up the adoption of enterprise-grade generative AI services, enhancing commercial, medical, regulatory, and clinical operations.

    • Bharat Petroleum Corp is rising as Andhra Pradesh CM, N Chandrababu Naidu, reportedly plans to set up an oil refinery and petrochemical complex in the state. The government will procure a 5000-acre land parcel, while the company plans a capex of Rs 60,000-70,000 crore.

    • Rail Vikas Nigam surges to a new all-time high as it receives a Rs 138.4 crore letter of acceptance (LOA) from the Central Railway. The project involves modifying the overhead equipment to upgrade the electric traction system in the Amla-Nagpur Section of the Nagpur division to meet a 3000 MT loading target.

    • Investment firms like Norway's Norfund and Germany's Development Financial Institution (DEG) are reportedly looking to acquire a stake in India Grid Trust's new power transmission platform, valued at approximately $250 million.

      Investment firms like Norway’s Norfund and Germany’s DEG are eyeing a stake in KKR & Co.-backed India Grid Trust’s new power transmission platform, valued at around $250 million.

      (@UtpalBhaskar reports)https://t.co/AEMlG6dDoi

      — Mint (@livemint) July 11, 2024
    • Oil and gas stocks like Oil India, Hindustan Petroleum Corp, Petronet LNG, and Oil And Natural Gas Corp are rising in trade. All constituents of the sectoral index, BSE Oil & Gas, are trading in the green.

    • Yes Bank rises sharply as Moody's upgrades its outlook from 'stable' to 'positive', expecting improvement in its depositor base and lending franchise, driving enhanced core profitability over the next 12-18 months.

    • Emkay Global initiates a 'Buy' on HG Infra Engineering and sets the target price at Rs 2,100 per share. This indicates a potential upside of 23.9%. The brokerage expects revenue growth led by strong order inflows in the roads segment supported by pickup in awarding activities and expansion in the railways, water, and solar segments. It expects the company's revenue to grow at a CAGR of 16.1% over FY25-27.

    • Nomura reiterates its 'Buy' rating on Ambuja Cements with a higher target price of Rs 780. The rationale includes aggressive capacity expansion, penetration into new markets, industry-leading volume growth, enhanced brownfield opportunities, and efforts toward cost optimization. The brokerage notes the firm's ongoing initiative to increase its capacity by 24 million tonnes by FY26 through organic and inorganic expansions.

      #MarketToday | 'Juggernaut unleashed': This Adani stock has 15% upside potential, says Nomura India https://t.co/9hI5O4grSe

      — Business Today (@business_today) July 11, 2024
    • Shalby surges as it secures a 30-year lease from the Charity Commissioner of Maharashtra to run the Asha Parekh Hospital in Santacruz, Mumbai. This allows the multispecialty hospital chain to expand in Santacruz by adding a new 175+ bed facility.

    • Ahluwalia Contracts (India) rises as it wins an order worth Rs 893.5 crore from the Airports Authority of India to develop Lal Bahadur International Airport in Varanasi.

    • Sula Vineyards' revenue increases by 9.7% YoY to Rs 129.6 crore in Q1FY25. However, wine tourism revenue decreases by 2.5% YoY. It features in a screener of stocks with rising net cash flow and cash from operating activities.

    • Reports suggest that 36 lakh shares (1% equity) of Sun TV Network, amounting to Rs 280 crore, have changed hands in a large trade.

      #SunTV#LargeTrade | 36 lakh shares (1% Equity) worth ?280 cr change hands at an average of ?778/sh pic.twitter.com/7KxRCaAHPv

      — CNBC-TV18 (@CNBCTV18Live) July 11, 2024
    • Power Grid Corp of India rises to its all-time high of Rs 348.8 per share as its board of directors increases its borrowing limit to Rs 15,000 crore from Rs 12,000 crore for FY25.

    • Glenmark Life Sciences falls sharply as its promoter and promoter group, Glenmark Pharmaceuticals and Mr. Glenn Mario Saldanha, plan to sell over 96 lakh shares (7.8% stake) through an offer for sale (OFS) on the stock exchange.

    • Shipping stocks like Great Eastern Shipping Co, Shipping Corp of India, Shreyas Shipping, and Sadhav Shipping rise more than 12.9% in trade as the industry anticipates a Rs 15,000-Rs 20,000 crore Maritime Development Fund in the upcoming Union Budget. The broader shipping industry surges over 9.5% today.

    • Manoj Verma, COO of Bikaji Foods International, notes the company's target of 13-15% volume growth with 2-4% price hikes this year and an FY25 margin target of 14%. He adds the current capacity utilization stands at 40-45% and aims to take it to 60-65% in the next few years, with a total retail outlet reach of 12-12.5 lakh in the next two years.

      BIKAJI

      Targets 13-15% volume growth with 2-4% price hikes this year

      Margin target at 14% in FY25

      Capacity Utilization at 40-45%, will aim at 60-65% in the next few years

      Also said, HALDIRAMS likely be a $1 Bn sales co with 16-17% margin#FMCGisLife

      https://t.co/YjjUbWO3Vz

      — Mangalam Maloo (@blitzkreigm) July 11, 2024
    • GE Power India rises as its board approves the plan to sell its hydro and gas power businesses through a slump sale as part of business restructuring.

    • Oriana Power rises sharply to its 5% upper circuit as it bags a Rs 155 crore order for a 40-megawatt peak (MWp) solar project in Rajasthan.

    • HPL Electric & Power surges as it wins orders worth Rs 2,100.7 crore from regular customers to supply smart meters in the normal course of business.

    • Morgan Stanley maintains its ‘Overweight’ rating on InterGlobe Aviation (IndiGo) with a target price of Rs 5,142. The brokerage notes that two large airports are coming up in FY26, leading to further expansion in air travel. It adds that the industry is currently more consolidated. Meanwhile, Morgan Stanley sees a 3% YoY decline in Q1FY25 EBITDA due to inflationary pressures.

      Brokerage Radar | MS on IndiGo: Maintain Overweight with target price of Rs 5142@MorganStanleypic.twitter.com/d3R50rV3th

      — ET NOW (@ETNOWlive) July 11, 2024
    • Tata Elxsi is falling as its net profit declines by 6.5% QoQ to Rs 184.1 crore in Q1FY25 due to higher costs of raw materials and employee benefits expenses. However, revenue grows by 2% QoQ to Rs 958.5 crore, helped by improvements in the software development & services and system integration & support services segments. It shows up in a screener of stocks where mutual funds decreased their shareholding in the past quarter.

    • Zydus Lifesciences gets US FDA approval for sacubitril and valsartan tablets, used to treat chronic heart failure in adults to help reduce the risk of death and hospitalization. Sacubitril and valsartan tablets have annual sales of $5,483 million.

    • Anil Kumar Goel buys a 1% stake in Triveni Engineering & Industries in Q1FY25. He now holds a 4.5% stake in the company.

    • Kalpataru Projects International rises sharply as its joint venture (JV) and international subsidiaries bag multiple orders worth Rs 2,995 crore across the transmission & distribution (T&D), water, and buildings & factories (B&F) businesses.

    • Nifty 50 was trading at 24,360.80 (36.4, 0.2%), BSE Sensex was trading at 80,051.81 (127.0, 0.2%) while the broader Nifty 500 was trading at 23,027.70 (50.1, 0.2%).

    • Market breadth is ticking up strongly. Of the 1,882 stocks traded today, 1,454 were in the positive territory and 397 were negative.

    Riding High:

    Largecap and midcap gainers today include Oil India Ltd. (551, 7.4%), NHPC Ltd. (114.07, 4.8%) and Hindustan Petroleum Corporation Ltd. (350.05, 4.5%).

    Downers:

    Largecap and midcap losers today include Tube Investments of India Ltd. (4,248.70, -6.2%), Macrotech Developers Ltd. (1,472.30, -3.5%) and Delhivery Ltd. (377, -2.8%).

    Volume Shockers

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

    Top high volume gainers on BSE included Engineers India Ltd. (290.25, 10.7%), Oil India Ltd. (551, 7.4%) and Great Eastern Shipping Company Ltd. (1,454.05, 6.7%).

    Top high volume losers on BSE were Tube Investments of India Ltd. (4,248.70, -6.2%), Cholamandalam Investment & Finance Company Ltd. (1,404.80, -1.1%) and Elgi Equipments Ltd. (708, -0.9%).

    Bayer Cropscience Ltd. (6,570.80, -0.3%) was trading at 8.9 times of weekly average. Sona BLW Precision Forgings Ltd. (719.90, 4.3%) and Sapphire Foods India Ltd. (1,550, -0.3%) were trading with volumes 7.9 and 6.9 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    34 stocks made 52 week highs,

    Stocks touching their year highs included - Blue Dart Express Ltd. (8,611.30, 2.6%), Britannia Industries Ltd. (5,761.30, 0.1%) and Zydus Lifesciences Ltd. (1,163.35, -1.4%).

    9 stocks climbed above their 200 day SMA including Piramal Enterprises Ltd. (934.40, 2.8%) and Jindal Worldwide Ltd. (338.70, 1.8%). 5 stocks slipped below their 200 SMA including L&T Technology Services Ltd. (4,942.85, -1.9%) and Coforge Ltd. (5,563.50, -1.9%).

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    Trendlyne Marketwatch
    Trendlyne Marketwatch
    10 Jul 2024
    Market closes lower, RVNL bags an order worth Rs 187.3 crore from MMRC

    Market closes lower, RVNL bags an order worth Rs 187.3 crore from MMRC

    By Trendlyne Analysis

    Market sinks in today's trading. Nifty 50 closed at 24,324.45 (-108.8, -0.5%) , BSE Sensex closed at 79,924.77 (-426.9, -0.5%) while the broader Nifty 500 closed at 22,977.65 (-89.7, -0.4%). Market breadth is sharply down. Of the 2,161 stocks traded today, 664 were on the uptick, and 1,482 were down.

    Indian indices closed in the red, after opening flat today. The Indian volatility index, Nifty VIX, rose 0.7% and closed at 14.4 points. Adani Ports & Special Economic Zone received a letter of intent (LOI) for a 30-year concession at Gujarat's Deendayal Port.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the red taking cues from the benchmark index. S&P BSE India Infrastructure and Nifty Low Volatility 50 were among the top index gainers today. According to Trendlyne’s Sector dashboard, Diversified Consumer Services emerged as the best-performing sector of the day, with a jump of over 1.2%.

    Asian indices closed in the red while European indices are trading higher. US index futures traded higher, indicating a positive start to the trading session. Brent crude oil futures are trading up by 0.2% as industry data showed a bigger-than-expected draw in U.S. inventories.

    • Relative strength index (RSI) indicates that stocks like Laurus Labs, Lupin, Firstsource Solutions, and Infosys are in the overbought zone.

    • Asian Paints rises sharply as it hikes prices by 0.7-1% across its portfolio, effective today. The move reportedly comes to offset rising input costs.

    • Infosys partners with Sector Alarm, backed by global investment firm KKR, for a five-year project to migrate their Enterprise Resource Planning systems to Microsoft Dynamics 365 Finance & Operations, aiming to modernize and streamline financial and operational frameworks.

    • Greaves Cotton's wholly owned subsidiary, Greaves Finance, partners with ACKO to cross-sell insurance and financing options through its evfin platform.

    • Morgan Stanley expects that Indian companies will likely report muted earnings in Q1 due to a high base. The brokerage expects revenue and net profit growth of 6% and 7%, respectively for companies in the Sensex index. It is ‘Overweight’ on financials, consumer discretionary, industrials and technology.

      Indian companies may report muted earnings for first quarter of current financial year given the high base, say brokerages.

      Read: https://t.co/4ftlAzVZXUpic.twitter.com/MifKE8fReE

      — NDTV Profit (@NDTVProfitIndia) July 10, 2024
    • Sharekhan retains its 'Buy' call on Dabur India with a higher target price of Rs 715 per share. This indicates a potential upside of 12.8%. The brokerage sees revenue growth in the medium term driven by market share gains, distribution expansion, investments in power brands, and new launches. It expects the company's revenue to grow at a CAGR of 8% over FY25-26.

    • Siemens' consortium with Rail Vikas Nigam reportedly wins a Rs 766 crore order from Bangalore Metro Rail Corp for the electrification of the Bengaluru Metro Phase 2 project. The company will receive its share of approx Rs 558 crore as part of the consortium.

    • Lloyds Metals & Energy raises Rs 1,218 crore through a qualified institutional placement (QIP). The company issues 1.8 crore shares at Rs 696 per share to long-only funds, mutual funds, and insurance companies.

    • BofA Securities downgrades its rating on HDFC Bank to 'Neutral' with a lower target price of Rs 1,830. The brokerage expects FY25 will pose challenges for the lender. It anticipates a balanced mix of positives and negatives during the year. It foresees the risk-reward ratio remaining within a narrow range over the coming 12 months.

      Following a 20% rally in shares of #HDFCBank on the back of value buying and optimism around the likely increase in MSCI weightage, BofA has downgraded the private sector lender to neutral from buyhttps://t.co/a6D5dxppfG

      — ETMarkets (@ETMarkets) July 10, 2024
    • Delhivery falls as 2.3 crore shares (3.2% stake), amounting to Rs 910.2 crore, reportedly change hands in a block deal. The Canada Pension Plan Investment Board (CPPIB) is a likely seller in the transaction.

    • IDBI Capital initiates coverage on Sansera Engineering with a 'Buy' call and a target price of Rs 1,625 per share. This indicates a potential upside of 19.%. The brokerage believes the company's expansion into high-margin export markets will further boost profitability and EPS. It expects revenue to grow at a CAGR of 10.7% over FY25-27.

    • Supreme Industries rises sharply as Jefferies upgrades the target price to Rs 6,700 per share while maintaining its 'Buy' call. This indicates a potential upside of 12.8%. The brokerage believes the company is well-positioned in housing, capex, and agriculture, estimating a 25% EPS CAGR over FY24-27.

    • India and Russia aim to boost bilateral trade to $100 billion by 2030, address trade imbalances, remove non-tariff barriers, and explore collaboration within the Eurasian Economic Union (EAEU). Trade between the two countries reached $65.6 billion in FY24, marking a 33% annual increase and nearly 5X higher than pre-pandemic levels of $10.1 billion. Trade has notably surged since 2022, driven by Indian fuel importers purchasing discounted Russian crude.

      India & #Russia are looking to raise bilateral trade to $100 billion by 2030, balance the lopsided trade, eliminate non-tariff trade barriers, and explore the possibility of a Eurasian Economic Union-India Free Trade Area.@Subhayan_ism@shreyanandi15https://t.co/OXa2jchggg

      — Business Standard (@bsindia) July 10, 2024

    • Auto stocks like Mahindra & Mahindra, Tata Motors, Bajaj Auto, TVS Motor, and Hero MotoCorp are falling in trade. All constituents of the broader sectoral index, Nifty Auto, barring Maruti Suzuki and Eicher Motors are also trading in the red.

    • Adani Port receives a letter of intent (LOI) for a 30-year concession at Deendayal Port. The agreement involves developing, operating, and maintaining Berth No. 13 for handling multipurpose clean cargo, including container cargo.

    • Krishna Institute of Medical Sciences acquires a 100% stake in Chalasani Hospitals for Rs 75 crore. Chalasani Hospitals is a 200-bed multi-specialty hospital in Vizag.

    • According to a poll of economists, India’s retail inflation is expected to rise to 4.8% in June, driven by vegetable prices, which surged due to extreme weather conditions. Prices of staples like onions, tomatoes, and potatoes grew by double digits in June.

      #India#inflation seen up in June due to soaring #vegetable priceshttps://t.co/bfUeDhKcgs

      — Economic Times (@EconomicTimes) July 10, 2024

    • Mankind Pharma rises sharply after 37 lakh shares (0.9% stake), amounting to Rs 770.7 crore, reportedly change hands in a block deal. Hema CIPEF is the likely seller in the transaction.

    • Rail Vikas Nigam rises sharply as it bags an order worth Rs 187.3 crore from Maharashtra Metro Rail Corp (MMRC) to construct six elevated metro stations in Nagpur.

    • Bansal Wire Industries' shares debut on the bourses at a 39.1% premium to the issue price of Rs 256. The Rs 745 crore IPO has received bids for 59.6 times the total shares on offer.

    • Mahindra & Mahindra declines more than 6% as it announces price cuts for its top-selling SUV 'XUV 700' by 10% from Rs 21.5 lakh to Rs 19.5 lakh on an ex-showroom basis due to overall weak passenger vehicle demand.

      ????M&M shares decline over 6% to be top losers on Nifty 50 — Here's why ????https://t.co/vsI9kllow8pic.twitter.com/EMqIjTuXH7

      — CNBC-TV18 (@CNBCTV18Live) July 10, 2024

    • Emcure Pharmaceuticals' shares debut on the bourses at a 31.4% premium to the issue price of Rs 1,008. The Rs 1,952 crore IPO has received bids for 67.9 times the total shares on offer.

    • Delta Corp falls sharply as its net profit plunges by 68.1% YoY to Rs 21.7 crore in Q1FY25. Revenue declines by 28.3% YoY to Rs 195.8 crore due to lower sales from the gaming operations and hospitality segments. It appears in a screener of stocks with declining net cash flow.

    • BLS International Services' arm, BLS International FZE, acquires a 100% stake in iDATA for Rs 720 crore. iDATA is a Turkey-based visa and consular services provider.

    • Havells India is rising as it plans to expand its cable production capacity at the Alwar plant by 41.2 lakh km annually by March 2026 with an investment of Rs 375 crore.

    • Nifty 50 was trading at 24,394.75 (-38.5, -0.2%) , BSE Sensex was trading at 80,481.36 (129.7, 0.2%) while the broader Nifty 500 was trading at 23,061.65 (-5.7, 0.0%)

    • Of the 1,943 stocks traded today, 1,244 were on the uptrend, and 663 went down.

    Riding High:

    Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (609.95, 12.4%), Indian Railway Finance Corporation Ltd. (203.71, 4.0%) and Asian Paints Ltd. (2,996.45, 3.2%).

    Downers:

    Largecap and midcap losers today include Mahindra & Mahindra Ltd. (2,732, -6.6%), UNO Minda Ltd. (1,060.25, -4.5%) and Bandhan Bank Ltd. (192.43, -4.2%).

    Volume Rockets

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

    Top high volume gainers on BSE included Shoppers Stop Ltd. (895.95, 16.8%), Indigo Paints Ltd. (1,538.20, 10.7%) and Rajesh Exports Ltd. (315.35, 10.1%).

    Top high volume losers on BSE were Mahindra & Mahindra Ltd. (2,732, -6.6%), Multi Commodity Exchange of India Ltd. (3,717.95, -4.1%) and Indian Energy Exchange Ltd. (176.12, -4.0%).

    Pfizer Ltd. (5,018.80, 6.5%) was trading at 16.1 times of weekly average. Prism Johnson Ltd. (172.20, 4.7%) and Swan Energy Ltd. (721.75, -0.8%) were trading with volumes 9.6 and 9.2 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    32 stocks made 52 week highs,

    Stocks touching their year highs included - Aurobindo Pharma Ltd. (1,337.10, 0.4%), Bharat Electronics Ltd. (333.85, -0.3%) and Britannia Industries Ltd. (5,755.55, 1.5%).

    8 stocks climbed above their 200 day SMA including Indigo Paints Ltd. (1,538.20, 10.7%) and Westlife Foodworld Ltd. (855.90, 2.4%). 12 stocks slipped below their 200 SMA including Jindal Worldwide Ltd. (332, -3.4%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (687.20, -2.5%).

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