Trendlyne Analysis
Market sinks in today's trading. Nifty 50 closed at 17,110.15 (-167.8, -1.0%) , BSE Sensex closed at 57,276.94 (-581.2, -1%) while the broader Nifty 500 closed at 14,679.70 (-152.5, -1.0%)
Market breadth is in the red. Of the 1,842 stocks traded today, 746 were gainers and 1,079 were losers.
Max Healthcare Institute, Hatsun Agro Products, Tasty Bite Eatables, and Nesco are trading with higher volumes as compared to Tuesday.
Raymond's Q3FY22 net profits rises 362.3% to Rs 100.3 crore. EBITDA rises 93% YoY to Rs 303 crore with EBITDA margins at 16.2%. The company's net revenue rises 45% to Rs 1,872 crore backed by improved consumer sentiments, strong festive and wedding season, and strong momentum of export orders.
BOB Capital Markets maintains a 'BUY' rating on IndiaMart but cuts its target price by 10%. The company's QoQ revenue growth of 3% in Q3 and flat ARPU YoY failed to meet the estimates of the brokerage. BOBCaps also cut its two-year earnings CAGR estimate by 1.5 percentage points due to a 380 bps fall in EBITDA margins led by higher operating expenses.
Finolex Industries' Q3FY22 net profits falls 31.6% to Rs 177.4 crore and revenues fall 5.8% YoY to Rs 1,024 crore. Fall in sales volumes for both PVC pipes and PVC resin segment, softening in the global PVC prices and rise in input costs lead to overall earnings fall.
Adani Wilmar’s Rs 3,600-crore IPO gets bids for 57% of the available 12.25 crore shares on offer on the first day of bidding. Retail investors quota of 5.03 crore shares is subscribed by 96%. The IPO entirely comprises of a fresh issue of equity shares.
Maruti Suzuki India's Q3FY22 net profits fall 47.91% YoY to Rs 1,011.3 crore due to lower sales volume, high commodity prices and lower non-operating income. The company's total revenue falls 3.6% YoY to Rs 23,574 crore and wholesales fall 13.2% YoY to 4,30,668 units in Q3FY22.
Torrent Pharmaceuticals is trading with more than 20 times its weekly average trading volume. TeamLease Services, Thyrocare Technologies, Lux Industries, and Indigo Paints are trading at more than eight times their weekly average trading volumes.
United Spirits' Q3FY22 profit after tax rises 26.7% to Rs 291 crores and EBITDA rises 27.9% to Rs 491 crores with EBITDA margins at 17%, up 159 bps. The company reports net sales increase by 15.9% to Rs 2,885 crores because of strong consumer demand in the off-trade, premiumisation trend, and continued momentum in at-home consumption occasions.
Macrotech Developers' Q3FY22 net profit rises 25.7% YoY to Rs 285.6 crore and its revenues rise 36% YoY to Rs 2,148.7 crore. Robust YoY growth of 40% in sales bookings across regions and considerable debt reduction aid the overall earnings growth in Q3
APL Apollo Tubes' Q3FY22 net profit falls 12.4% YoY to Rs 115.6 crore while revenues rise 24.2% to Rs 3,238.3 crore. Double-digit fall in sales volumes backed by channel de-stocking as well as spike in input costs lead to the earnings fall in Q3.
Bharat Petroleum wins bids in the 11th round of auctions of the Petroleum and Natural Gas Regulatory Board's geographical areas and will invest Rs 10,000 crore over the next five years to set up city gas distribution networks in six cities.
Adani Wilmar raises Rs 940 crore by selling 4.08 crore equity shares at Rs 230 per share to 15 anchor investors ahead of its IPO. The investors include the Government of Singapore, Jupiter India Fund, Volrado Venture Partners Fund, Societe Generale, Cohesion MK Best Ideas, HDFC Mutual Fund, Nippon Life India Trustee, and Aditya Birla Sun Life Trustee, among others.
Cipla’s Q3FY22 net profits fall 2.6% YoY to Rs 729 crore as EBITDA margins contract 130 bps YoY to 22.5% because of an increase in expenses on R&D and employee expenses. Revenues from active pharmaceutical business drops 26% YoY to Rs 201 crore. However, overall revenue from operations shows a rise of 6% YoY to Rs 5,479 crore as revenues from India and US market rise 13% and 9%, respectively.
Riding High:
Largecap and midcap gainers today include Union Bank of India (46.45, 8.91%), Canara Bank (240.80, 8.76%) and Shriram Transport Finance Company Ltd. (1,241.10, 6.38%).
Downers:
Largecap and midcap losers today include Torrent Pharmaceuticals Ltd. (2,683.50, -15.11%), Coforge Ltd. (4,400.80, -7.96%) and ABB India Ltd. (2,224.45, -7.32%).
Volume Rockets
21 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Thyrocare Technologies Ltd. (1,057.05, 16.52%), Union Bank of India (46.45, 8.91%) and Canara Bank (240.80, 8.76%).
Top high volume losers on BSE were Torrent Pharmaceuticals Ltd. (2,683.50, -15.11%), IndiaMART InterMESH Ltd. (4,564.25, -8.81%) and Laurus Labs Ltd. (464.70, -2.17%).
TeamLease Services Ltd. (4,099.25, 7.85%) was trading at 22.9 times of weekly average. Lux Industries Ltd. (2,796.40, -0.61%) and Indigo Paints Ltd. (1,951.80, -0.28%) were trading with volumes 11.4 and 8.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
7 stocks took off, crossing 52-week highs, while 8 stocks were underachievers and hit their 52-week lows.
Stocks touching their year highs included - Lakshmi Machine Works Ltd. (11,222.65, 2.92%), Maruti Suzuki India Ltd. (8,820.20, 2.53%) and TV18 Broadcast Ltd. (58.50, 20.00%).
Stocks making new 52 weeks lows included - Cadila Healthcare Ltd. (384.40, -2.84%) and L&T Finance Holdings Ltd. (72.45, -1.16%).
17 stocks climbed above their 200 day SMA including TeamLease Services Ltd. (4,099.25, 7.85%) and Indian Bank (145.85, 7.76%). 33 stocks slipped below their 200 SMA including Torrent Pharmaceuticals Ltd. (2,683.50, -15.11%) and Coforge Ltd. (4,400.80, -7.96%).