Trendlyne Blog: Trendlyne Marketwatch, Latest on stock market and finance in India and the world.

05 Apr 2022, 03:50PM

Market closes lower, Axis Securities maintains a ‘Buy’ rating on Wipro

Trendlyne Analysis

Nifty 50 closed in the red after gyrating between gains and losses. Most Asian indices closed higher amid mixed global cues. US equities ended sharply higher on Monday led by technology stocks. The tech-focused NASDAQ 100 closed over 2% higher with Twitter surging over 25% after the CEO of Tesla, Elon Musk picked up a 9.2% stake in the microblogging site. Crude oil prices continue to trade at elevated levels as the potential for more sanctions added to concerns about supply chain disruptions, while Iran nuclear talks stalled.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher despite the benchmark index closing in the red. Nifty PSU Bank, which gained close to 5% in the last two trading sessions, closed in the green. Nifty IT closed flat, tracking the NASDAQ 100 futures.

Nifty 50 closed at 17,957.40 (-96, -0.5%), BSE Sensex closed at 60,176.50 (-435.2, -0.7%) while the broader Nifty 500 closed at 15,390.50 (6.3, 0.0%)

Market breadth is overwhelmingly positive. Of the 1,882 stocks traded today, 1,319 were on the uptick, and 533 were down.

J B Chemicals & Pharmaceuticals,Suzlon Energy,PNC Infratech, and IIFL Finance of India are trading with higher volumes as compared to Monday.
KEC International receives new orders worth Rs 945 crore across its various businesses. The contracts include substation order in India from Power Grid Corporation of India, transmission line order in SAARC and underground cabling project in India among others.
Hindustan Zinc’s March 2022 production of mined metal rises 3% YoY to 2.95 lakh tonnes and integrated saleable metal rises 2% YoY to 2.6 lakh tonnes. In FY22, mined metal production rises 5% YoY to 10.17 lakh tonnes, and integrated saleable metal production rises 4% YoY to 9.67 lakh tonnes.
Consumer facing companies are trading higher with stocks like Titan, Havells, Voltas, Aditya Birla Fashion and Retail, and Whirlpool of India rising. The broader sectoral index i.e. BSE Consumer Durables is also trading in the green today.
Hariom Pipes' Rs 130.1-crore IPO gets bids for 7.9X of the available 85 lakh shares on offer on the last day of bidding. Retail investors put in bids for 12.1X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.
Larsen & Toubro's arm L&T Construction receives various orders from prestigious clients worth Rs 1,000-2,500 crore. The contracts include an order from the Tamil Nadu Road Infrastructure Development Corporation to construct the Chennai peripheral ring road, an order from the Uttar Pradesh Metro Rail Corporation, an order involving design, supply, installation, testing, and commissioning of 750 Volt DC third rail traction system among others.
HDFC Securities maintains a ‘Buy’ rating on Oil and Natural Gas Corporation (ONGC) with a target price of Rs 275, indicating an upside of 63.7%. The brokerage remains bullish for the company as it expects Brent crude prices to remain elevated, and gas prices to rise 45% in H2FY23. The brokerage expects the company’s realisations to improve due to high oil and gas prices and profit to grow at 14% CAGR over FY22-24.
Axis Securities maintains a ‘Buy’ rating on Wipro with a target price of Rs 675, indicating an upside of 12%. The brokerage maintains a positive outlook on the company due to its robust deal pipeline and expanding digital transformation services.
SBI Cards and Payment Services is trading with more than fourty times its weekly average trading volume. Dilip Buildcon, Triveni Turbine, Gujarat Pipavav Port, and Glenmark Life Sciences are trading at more than five times their weekly average trading volumes.
MOIL's turnover grows 22% YoY to Rs 1,436 crore in FY22. The company's production increases 8% YoY to 12.31 lakh metric tonnes on the back of product planning and marketing strategy.
Vedanta’s alumina production rises 7% YoY to 1.96 million tonnes in FY22 with aluminium production increasing 15% YoY to 2.26 million tonnes as production activities ramp up and operational efficacy improves. Integrated metal production, consisting of zinc, lead and silver rises 4% YoY to 0.96 million tonnes. Karnataka iron-ore production rises 8% YoY to 5.4 million tonnes however production in Goa mines remains suspended. Copper production at Silvassa refinery continues with an increase of 24% YoY to 0.12 million tonnes in FY22.
Zomato is falling as the Competition Commission of India (CCI) orders an investigation into conduct of Zomato and Swiggy. CCI believes that the downstream commercial interest of Zomato and Swiggy through private labels and cloud kitchens may affect platform neutrality and requires detailed examination.
IndusInd Bank’s net advances at the end of Q4FY22 grow 13% YoY to Rs 2.39 lakh crore. Deposits rise 15% YoY to Rs 2.93 lakh crore with retail deposits rising 6% QoQ to Rs 1.20 lakh crore.
Bajaj Finance’s loan advances at the end of Q4FY22 grow 29.1% YoY to Rs 1.97 lakh crore with number of new loans booked increasing 14.5% YoY to 63 crore. Deposits grow 19.4% YoY to Rs 30,800 crore. The NBFC’s liquidity remains strong with a liquidity surplus at Rs 10,000 crore as of March 31, 2022.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (233.10, 9.98%), Tata Power Company Ltd. (273.60, 8.59%) and Polycab India Ltd. (2,654.45, 7.50%).

Downers:

Largecap and midcap losers today include Ruchi Soya Industries Ltd. (875.40, -6.73%), SBI Cards and Payment Services Ltd. (839.00, -4.24%) and Federal Bank Ltd. (98.25, -4.15%).

Volume Rockets

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

Top high volume gainers on BSE included Dilip Buildcon Ltd. (302.00, 19.98%), Vaibhav Global Ltd. (461.80, 13.38%) and Gujarat Pipavav Port Ltd. (91.35, 11.95%).

Top high volume losers on BSE were SBI Cards and Payment Services Ltd. (839.00, -4.24%) and Cera Sanitaryware Ltd. (4,810.25, -0.12%).

Mangalore Refinery And Petrochemicals Ltd. (49.25, 11.93%) was trading at 10.7 times of weekly average. Triveni Turbine Ltd. (211.75, 3.98%) and Metropolis Healthcare Ltd. (2,415.35, 8.02%) were trading with volumes 9.5 and 7.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

24 stocks overperformed with 52-week highs,

Stocks touching their year highs included - Adani Power Ltd. (233.10, 9.98%), Bajaj Holdings & Investment Ltd. (6,143.40, 5.40%) and Blue Star Ltd. (1,132.30, 3.06%).

36 stocks climbed above their 200 day SMA including Mangalore Refinery And Petrochemicals Ltd. (49.25, 11.93%) and Balaji Amines Ltd. (3,421.55, 6.91%). 3 stocks slipped below their 200 SMA including Poly Medicure Ltd. (898.20, -0.64%) and Aditya Birla Capital Ltd. (113.25, -0.57%).

Trendlyne Marketwatch

04 Apr 2022, 03:50PM

Market closes higher, IDFC First Bank’s loan advances at the end of Q4FY22 grow 12.8% YoY

Trendlyne Analysis

Nifty 50 extended its gains throughout the day to end above 18,000 for the first time in two and a half months. The Indian Volatility index, India VIX falls for an eighth consecutive trading session. Most Asian indices trade higher but US treasury bonds fall with the possibility of the Fed taking a fast-track approach to raise interest rates. The two-year treasury yield exceeded the 30-year treasury yield for the first time since 2007 last week. Analysts believe that this bond yield inversion indicates that a recession could be in the cards. Most European indices trade flat as some European Union governments mull a new set of sanctions on Russia after allegations of war crimes emerged.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green, following the benchmark index. All sectoral indices closed higher than Friday’s levels. Nifty IT closes higher, taking cues from the tech-heavy NASDAQ 100 futures, which is also trading higher.

Nifty 50 closed at 18,053.40 (383.0, 2.2%), BSE Sensex closed at 60,611.74 (1,335.1, 2.3%) while the broader Nifty 500 closed at 15,384.20 (296.9, 2.0%)

Market breadth is ticking up strongly. Of the 1,908 stocks traded today, 1,523 were on the uptrend, and 351 went down.

Tata Teleservices (Maharashtra), Cholamandalam Financial Holdings, Grindwell Norton, and Tube Investments of India are trading with higher volumes as compared to Friday.
Ashika Research initiates coverage on Aditya Birla Fashion and Retail with a ‘Buy’ rating and target price of Rs 350 indicating an upside of 16%. The brokerage is bullish for the company on the back of its various acquisitions and plans to create a D2C (Direct-to-Consumer) platform. The brokerage expects the company’s EBITDA to grow 53.6% YoY in FY23 over FY22.
PB Fintech is rising after Morgan Stanley upgrades its rating on the stock to 'Overweight'. The brokerage changes its stance on the stock as in its view the recent price correction makes the stock attractive. However, it is still cautious about the insurance sector due to the risk of lower growth and higher capital costs.
Hariom Pipes' Rs 130.1-crore IPO gets bids for 3.4X of the available 85 lakh shares on offer on the fourth day of bidding. Retail investors put in bids for 7.2X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.
IDFC First Bank’s loan advances at the end of Q4FY22 grow 12.8% YoY to Rs 1.32 lakh crore with retail and commercial loans rising 26.4% YoY. Retail loan is up as home loan segment rises 52.1% YoY. CASA deposits rise 12% YoY to Rs 51,407 crore.
Edelweiss maintains a ‘BUY’ rating on Cyient with a target price of Rs 1,030, indicating an upside of 11%. The brokerage remains positive about the company on the back of its expertise in areas of mapping and designing across diversified segments and in a variety of end-user IT environments. The brokerage expects the company’s revenue to grow at a 12.7% CAGR over FY22-FY24.
Bajaj Auto's March total wholesales fall 20% YoY to 2,97,188 units. Two-wheeler wholesales fall 22% YoY to 2,56,324 units but three-wheeler wholesales rise 4% YoY to 40,864 units. For FY22, the company's total wholesales rise 8% YoY to 43,08,433 units including a 22% YoY rise in exports to 25,06,626.
Housing Development Finance Corporation is trading with more than seven times its weekly average trading volume.Mazagon Dock Shipbuilders, Godrej Agrovet, HDFC Bank, and HDFC Life Insurance Company are trading at more than four times their weekly average trading volumes.
Indraprastha Gas increases the prices of compressed natural gas by Rs 0.80 per kg and piped natural gas by Rs 5.85 per standard cubic metre for Delhi with effect from April 1, 2022. This is the fourth price hike after the company hiked gas prices back in October 2021, January 2022 and March 2022.
HDFC Bank’s loan advances at the end of Q4FY22 grow 21% YoY to Rs 13.7 lakh crore with corporate loans growing 17.5% and commercial & rural banking loans rising 31% YoY. Deposits grow 16.8% YoY to Rs 15.5 lakh crore, with retail deposits rising 18.5% YoY and CASA deposits by 22% YoY to Rs 7.5 lakh crore.
NMDC is rising as its iron ore production rises 23% YoY to 42.15 million tonnes (MT) in FY22. NMDC also reports its highest ever production and sales numbers in the month of March. The iron ore production in March rises 9% YoY to 4.98 MT while the sales increased by 3% to 4.21 MT.
Adani Ports & Special Economic Zone (APSEZ) cargo volumes rise 12% YoY in March 2022 to 29.16 million metric tonnes. In FY22, APSEZ’s total cargo volumes rise 26% YoY to 312.39 million metric tonnes.
JSW Energy is rising as its wholly-owned subsidiary, JSW Neo Energy enters into a memorandum of understanding (MoU) with the government of Chhattisgarh to set up a 1,000 MW capacity hydro pumped storage project (PSP). PSP is a well-established technology that is mainly used to solve intermittent power supply issues through renewable energies.
HDFC Bank and HDFC's boards approve the merger scheme of both companies. It will be a two-step process with HDFC Investments and HDFC Holdings first merging with HDFC. Then, HDFC will merge with HDFC Bank. The share exchange ratio proposed is 42 equity shares of HDFC Bank for 25 fully paid-up equity shares of HDFC.

Riding High:

Largecap and midcap gainers today include HDFC Bank Ltd. (1,656.80, 10.01%), Housing Development Finance Corporation Ltd. (2,680.05, 9.29%) and Adani Green Energy Ltd. (2,110.45, 8.50%).

Downers:

Largecap and midcap losers today include GlaxoSmithKline Pharmaceuticals Ltd. (1,625.75, -1.96%), Kansai Nerolac Paints Ltd. (462.20, -1.62%) and ACC Ltd. (2,119.45, -1.47%).

Movers and Shakers

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

Top high volume gainers on BSE included Godrej Agrovet Ltd. (545.90, 18.93%), PTC India Ltd. (95.00, 10.27%) and HDFC Bank Ltd. (1,656.80, 10.01%).

Mazagon Dock Shipbuilders Ltd. (271.55, 7.99%) was trading at 11.7 times of weekly average. Housing Development Finance Corporation Ltd. (2,680.05, 9.29%) and J B Chemicals & Pharmaceuticals Ltd. (1,600.85, 2.83%) were trading with volumes 9.5 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

20 stocks made 52-week highs,

Stocks touching their year highs included - Adani Power Ltd. (211.95, 4.18%), Bajaj Holdings & Investment Ltd. (5,828.45, 7.96%) and Cummins India Ltd. (1,128.25, -0.74%).

29 stocks climbed above their 200 day SMA including HDFC Bank Ltd. (1,656.80, 10.01%) and Housing Development Finance Corporation Ltd. (2,680.05, 9.29%). 6 stocks slipped below their 200 SMA including TeamLease Services Ltd. (4,033.80, -5.03%) and Poly Medicure Ltd. (904.00, -3.10%).

Trendlyne Marketwatch

01 Apr 2022

Market closes higher, Motilal Oswal maintains a ‘BUY’ rating on ACC

Trendlyne Analysis

Indian indices start the new financial year in green amidst strong buying pressure towards the end of the trading session. Crude oil prices continue to decline as the US plans to release around a million barrels of crude oil a day from its strategic petroleum reserves to curb the rise in fuel prices. Asian indices closed mixed amid weak global cues as China extended the lockdown in Shanghai to curb a surge in Covid 19 cases. US indices fell on Thursday as investors continue to weigh the risks from tighter US Federal Reserve monetary policy and the war in Ukraine.

Nifty Next 50 and Nifty Smallcap 100 closed in the green following the benchmark index. Nifty Bank, which opened lower, closed over 2% higher. Nifty IT closed in the green, tracking the tech-focused NASDAQ 100 Futures, which is trading higher.

Nifty 50 closed at 17,670.45 (205.7, 1.2%), BSE Sensex closed at 59,276.69 (708.2, 1.2%) while the broader Nifty 500 closed at 15,087.30 (192.8, 1.3%)

Market breadth is ticking up strongly. Of the 1,880 stocks traded today, 1,591 were on the uptrend, and 271 went down.

Saregama India, Max Healthcare Institute, Macrotech Developers, and Gland Pharma are trading with higher volumes as compared to Thursday.
Tata Motors’ total commercial vehicle wholesales rise 16% YoY to 47,050 units and total domestic passenger vehicle wholesales rises 43% YoY to 42,293 units in March 2022. For FY22, the company's total commercial vehicles wholesales rise 36% YoY to 3,56,972 units and total domestic passenger vehicle wholesales rise 67% YoY to 3,70,372 units.
Mahindra & Mahindra’s March 2022 total auto wholesales rise 42.2% YoY to 54,643 units, while total farm equipment wholesales fall 4% YoY to 29,763 units. For FY22, the company’s total auto wholesales rise 32.1% YoY to 4,65,601 units and total farm equipment wholesales were flat YoY at 3,54,698 units.
Hariom Pipes' Rs 130.1-crore IPO gets bids for 1.88X of the available 85 lakh shares on offer on the third day of bidding. Retail investors put in bids for 4.66X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.
APL Apollo Tubes' Q4FY22 sales volume rises 27% YoY to 5,51,723 tonnes. Additionally, sales volume rises 7% YoY to 17.5 lakh tonnes for full-year FY22. Apollo structures and Apollo Z segments contribute to the rise in volumes in Q4FY22. The company looks to raise share of value added products in the overall sales mix to 75% from 63% currently in medium term.
Ashok Leyland’s total March 2022 wholesales rise 17% YoY to 20,123 units and total medium and heavy commercial vehicle wholesales rise 26% to 13,990 units. For FY22, the company’s total wholesales rise 27% to 1,28,326 units and total medium and heavy commercial vehicle wholesales rise 43% to 73,885 units.
Maruti Suzuki’s total wholesales rise 2% YoY to 1,70,395 units but total passenger vehicle wholesales fall 8.4% to 1,33,862 units in March 2022. For FY22, the company's total wholesales rise 13.4% to 16,52,653 units and total passenger vehicle wholesales rise 2.9% to 12,93,840 units. The shortage of electronic components affected the production of vehicles in FY22.
IOL Chemicals and Pharmaceuticals is trading with more than eight times its weekly average trading volume. Galaxy Surfactants, Suprajit Engineering, IIFL Wealth Management, and DCM Shriram Industries are trading at more than four times their weekly average trading volumes.
Hindustan Aeronautics records revenue growth of 6% YoY to Rs 24,000 crore in FY22. The company also receives two separate contracts worth Rs 3,887 crore to develop light combat helicopters from Ministry of Defence for Indian Air Force and Indian Army.
Motilal Oswal maintains a ‘BUY’ rating on ACC with a target price of Rs Rs 2,470, indicating an upside of 15%. The brokerage has a positive outlook on the company as the company’s total operating profits rose only 3% YoY in FY22 to Rs 4,552/tonne despite a significant increase in key input costs.
Lupin’s New Jersey manufacturing unit, Novel Laboratories receives 13 observations after the conclusion of the US Food and Drug Administration (USFDA) facility inspection. The company must now address the observations and work closely with USFDA to address its concerns.
Government of Singapore and Smaller Cap World Fund buy 1.08 crore and 1.64 crore shares respectively of Max Healthcare at an average price of Rs 340 apiece in a bulk deal on Thursday.
Escorts’ total tractor wholesales fall 18.3% YoY to 10,047 units in March 2022 on subdued commercial demand. Its domestic tractor wholesales fall 19.2% YoY to 9,483 units and tractor exports by 2.6% YoY to 591 units.
Future Retail’s CEO Sadashiv Nayak resigns without citing any reason for his exit. The resignation is effective from the closure of business hours on March 31, 2022.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (203.45, 9.91%), Bharat Heavy Electricals Ltd. (53.85, 9.12%) and Bajaj Holdings & Investment Ltd. (5,398.85, 7.74%).

Downers:

Largecap and midcap losers today include Atul Ltd. (9,870.05, -4.10%), Ipca Laboratories Ltd. (1,027.40, -3.60%) and Alkem Laboratories Ltd. (3,493.20, -3.52%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included IOL Chemicals and Pharmaceuticals Ltd. (424.40, 19.99%), Spandana Sphoorty Financial Ltd. (396.75, 19.54%) and Lux Industries Ltd. (2,533.15, 15.62%).

Top high volume loser on BSE was Saregama India Ltd. (4,816.20, -0.23%).

NCC Ltd. (64.95, 10.93%) was trading at 6.6 times of weekly average. DCM Shriram Ltd. (1,192.10, 5.49%) and Restaurant Brands Asia Ltd. (112.75, 11.91%) were trading with volumes 6.0 and 5.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks took off, crossing 52-week highs, while 1 stock tanked below its 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (203.45, 9.91%), Cummins India Ltd. (1,136.70, 1.37%) and Delta Corp Ltd. (333.00, 0.89%).

Stock making new 52 weeks lows included - Procter & Gamble Health Ltd. (4,166.40, 4.10%).

25 stocks climbed above their 200 day SMA including Sunteck Realty Ltd. (487.50, 11.62%) and Laxmi Organic Industries Ltd. (436.45, 9.28%). 4 stocks slipped below their 200 SMA including Alkem Laboratories Ltd. (3,493.20, -3.52%) and BASF India Ltd. (3,031.00, -2.00%).

Trendlyne Marketwatch

31 Mar 2022

Market closes lower, BOB Caps maintains ‘BUY’ on Aurobindo Pharma

Trendlyne Analysis

Nifty 50 closed lower on a volatile day of trade. Most Asian indices closed lower, tracking the US indices, which closed in the red on Wednesday. European stocks trade lower on the back of a 30-year high inflation print of 7.3% in Germany and no real developments from the peace talks between Russia and Ukraine. Crude oil prices fall more than 4% as the United States mulls drawing from its oil reserves to curb the surge in fuel prices. The OPEC+ group is set to meet today to determine the output levels for oil production beginning in May.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green despite the benchmark index closing in the red. Nifty metal, which lost over 2% yesterday, closed flat. Nifty IT trades closed lower, tracking the tech-heavy NASDAQ 100, which closed 1.1% lower on Thursday.

Nifty 50 closed at 17,464.75 (-33.5, -0.2%), BSE Sensex closed at 58,568.51 (-115.5, -0.2%) while the broader Nifty 500 closed at 14,894.50 (-2.4, 0.0%)

Market breadth is in the red. Of the 1,882 stocks traded today, 771 were on the uptick, and 1,089 were down.

Phoenix Mills, Supreme Industries,Grindwell Norton, and Avanti Feeds are trading with higher volumes as compared to Wednesday.
ICICI Securities maintains a ‘Buy’ rating on Axis Bank with a target price of Rs 1,050, indicating an upside of 40%. The brokerage is bullish on the company’s acquisition of Citibank’s consumer business in India. It expects the acquisition to give the company access to a huge retail base, an affluent and profitable consumer base, and strategic synergy benefits over the medium term.
Reliance Industries' telecom arm Reliance Jio lost 94 lakh subscribers MoM for the second consecutive month in January 2022, according to data from the Telecom Regulatory Authority of India. On the other hand, Bharti Airtel added 7 lakh subscribers to its overall subscriber base.
Veranda Learnings Solutions’ Rs 200-crore IPO gets bids for 3.53X of the available 1.2 crore shares on offer on the third day of bidding. Retail investors quota gets bids for 10.76X of the available 15.4 lakh shares. The offer comprises entirely of a fresh issue of Rs 200 crore.
Hariom Pipes' Rs 130.1-crore IPO gets bids for 1.48X of the available 85 lakh shares on offer on the second day of bidding. Retail investors put in bids for 3.55X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.
BOB Capital Markets maintains a ‘BUY’ rating on Aurobindo Pharma with a target price of Rs 850, indicating an upside of 20%. The brokerage maintains a positive outlook on the company as its acquisition of Veritaz Healthcare allows the company to foray into the domestic formulation business. However, the brokerage awaits better clarity on the strategy and financial planning post-acquisition before incorporating Veritaz into their estimates.
Max Healthcare Institute is trading with more than sixty-nine times its weekly average trading volume.IIFL Wealth Management, Edelweiss Financial Services, ABB India and KEI Industries are trading at more than four times their weekly average trading volumes.
Ashoka Buildcon wins bid to develop six lanes access-controlled greenfield highway from Baswantpur to Singond from National Highways Authority of India. The accepted bid cost for the project is Rs 1,079 crore.
Competition commission of India conducts an enquiry in the offices of tyre makers like Apollo Tyres, Ceat and Continental AG. The enquiry is in relation to suspicion of unfair trade practices carried on by these companies in the state of Haryana.
IIFL Wealth Management rises as Bain Capital is set to buy 2.2 crore or 24.98% stake in the company from Fairfax India Holdings. The total consideration for this stake acquisition will be close to Rs 3,680 crore.
Tejas Networks is rising as it is set to acquire a 64.4% stake in semiconductor firm Saankhya Labs for Rs 283.94 crore in an all-cash deal. The company expects the acquisition to enhance its wireless offerings and increase its customer base in India and the international markets.
Info Edge’s wholly-owned subsidiary, Allcheckdeals India, invests Rs 137.1 crore in 4B Networks. Allcheckdeals plans to strengthen its offering in the real estate segment by providing a new platform for real estate industry professionals via the 4B network’s broker network platform.
Axis Bank to acquire Citibank India’s retail business for Rs 12,235 crore in an all-cash deal. The deal includes Citibank’s credit card, retail banking, wealth management, and consumer loan business. The deal also includes the sale of consumer business of its non-banking financial company (NBFC), Citicorp Finance (India).

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (185.10, 7.93%), Tata Communications Ltd. (1,228.60, 6.09%) and Hindustan Aeronautics Ltd. (1,484.90, 5.72%).

Downers:

Largecap and midcap losers today include Hindalco Industries Ltd. (569.50, -5.05%), Indian Overseas Bank (18.15, -4.22%) and Max Healthcare Institute Ltd. (347.65, -3.70%).

Movers and Shakers

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

Top high volume gainers on BSE included Edelweiss Financial Services Ltd. (58.70, 15.44%), Mahindra Lifespace Developers Ltd. (395.20, 10.86%) and Bajaj Consumer Care Ltd. (163.30, 9.08%).

Top high volume losers on BSE were CSB Bank Ltd. (211.15, -5.48%), Max Healthcare Institute Ltd. (347.65, -3.70%) and Brigade Enterprises Ltd. (516.85, -1.80%).

IIFL Wealth Management Ltd. (1,668.90, 0.01%) was trading at 10.2 times of weekly average. V Mart Retail Ltd. (3,966.30, 4.67%) and Kansai Nerolac Paints Ltd. (467.75, 3.96%) were trading with volumes 7.4 and 7.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks overperformed with 52-week highs, while 7 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (185.10, 7.93%), Cummins India Ltd. (1,121.30, 1.22%) and Delta Corp Ltd. (330.05, 1.65%).

Stocks making new 52 weeks lows included - Avanti Feeds Ltd. (412.35, -0.87%) and Gujarat Pipavav Port Ltd. (76.40, -0.84%).

30 stocks climbed above their 200 day SMA including NOCIL Ltd. (248.90, 8.26%) and HFCL Ltd. (78.70, 7.15%). 10 stocks slipped below their 200 SMA including Max Healthcare Institute Ltd. (347.65, -3.70%) and Apollo Hospitals Enterprise Ltd. (4,516.10, -2.14%).

Trendlyne Marketwatch

30 Mar 2022

Market closes higher, Edelweiss maintains a ‘BUY’ rating on Balaji Amines

Trendlyne Analysis

Nifty 50 closed 1% higher with the Indian volatility index, India VIX falling significantly. Most Asian indices closed higher as hopes rise for a negotiated end to the Ukraine conflict. Ukraine proposed adopting a neutral status as a sign of progress in face-to-face negotiations while Russia promised to scale down military operations near Kyiv. However, reports suggest that Russia continues to build up troops in Eastern Ukraine. The US indices closed sharply higher on Tuesday led by the tech-focused NASDAQ 100, which rose 1.68%. European shares trade lower after three days of consecutive gains as investors monitor the outcome of the Russia-Ukraine peace talks.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Media, which shed 1.2% on Tuesday, surged today to close 2.3% higher. Nifty Metal snaps its nine-day winning streak to close 2.2% lower. Nifty IT closed in the green, tracking the tech-heavy NASDAQ 100.

BSE Sensex closed at 58,683.99 (740.3, 1.3%) while the broader Nifty 500 closed at 14,896.90 (135, 0.9%).

Market breadth is in the green. Of the 1,878 stocks traded today, 1,203 were in the positive territory and 644 were negative.

NHPC, AIA Engineering, KPR Mill, and Indo Count Industries Express are trading with higher volumes as compared to Tuesday.
Veranda Learnings Solutions’ Rs 200-crore IPO gets bids for 1.3X of the available 1.2 crore shares on offer on the second day of bidding. Retail investors quota gets bids for 7X of the available 15.4 lakh shares. The offer comprises entirely of a fresh issue of Rs 200 crore.
Hariom Pipes' Rs 130.1-crore IPO gets bids for 67% of the available 25.5 lakh shares on offer on the first day of bidding. Retail investors quota gets bids for 1.88X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.
Uma Exports' Rs 60-crore IPO gets bids for 7.7X of the available 92.3 lakh shares on offer on the last day of bidding. Retail investors quota gets bids for 10.1X of the available 63.6 lakh shares. The offer comprises entirely of a fresh issue of Rs 60 crore.
Music label firm Saregamahits the upper circuit after its board of directors approves hiving off its e-commerce distribution, publication and other non-core businesses into a separate entity - Digidrive Distributors. This business involves the sale of its physical products including portable music player Carvaan. It generated revenues of just Rs 17.4 crore in FY21.
Axis Securities initiates coverage on Aptus Value Housing Finance India with a ‘Buy’ rating and a target price of Rs 400, indicating an upside of 27%. The brokerage believes the company is well placed to benefit from the rapidly growing affordable housing market due to its deep penetration in rural South Indian markets, industry-leading profitability, and improving asset quality trends.
Tata Coffee is trading with more than fifteen times its weekly average trading volume. General Insurance Corporation of India, Nesco, Phoenix Mills, and Mastek are trading at more than four times their weekly average trading volumes.
IDBI Bank's board approves the divestment of its stake in National Securities Depository (NSDL) and Ageas Federal Life Insurance Company (AFLI). This willl include the divestment of the bank's stake of up to 11.1% in NSDL through a market-driven process. The stake in AFLI --20 lakh shares--will be sold to Ageas Insurance International NV (Ageas) pursuant to the exercise of a call option by Ageas.
Edelweiss maintains a ‘BUY’ rating on Balaji Amines with a target price of Rs 4,150, indicating an upside of 40.7%. The brokerage has a positive outlook on the company as it increased the production capacity of the propylene glycol and dimethyl carbonate chains. The brokerage expects the company’s revenue to grow at 23.7% over FY22-FY24.
Bharat Electronics signs two contracts worth Rs 3,102 crore with Ministry of Defence, Government of India. The contracts include supply of advanced electronic warfare suite for fighter aircraft and instrumented electronic warfare range for the Indian Air Force.
Oil And Natural Gas Corporation (ONGC) is falling as the Center is set to sell 1.5% of its stake in the company to raise about Rs 3,000 crore. The offer for sale (OFS) opens on March 30-31 with a minimum of 25 % of the shares reserved for mutual funds and insurance companies. The Centre currently owns a 60.41 % stake in ONGC which produces half of India's oil and gas.
Strides Pharma Science's Managing Director and CEO R Ananthanarayanan resign. His resignation will be effective from March 31, 2022.
Tata Consumer Products (TCPL) announces merger of all businesses of Tata Coffee (TCL) with itself as a part of its reorganization plan. TCL’s plantation business will first be de-merged into TCPL’s wholly-owned subsidiary TCPL Beverages & Foods (TBFL). TCPL will issue one equity share for every 22 equity shares of TCL to TCL’s shareholders in accordance with their share entitlement ratio. Following the de-merger, the remaining business of TCL will be merged with TCPL.

Riding High:

Largecap and midcap gainers today include Indian Overseas Bank (18.95, 10.17%), Tata Elxsi Ltd. (8,996.80, 5.19%) and Larsen & Toubro Infotech Ltd. (6,310.35, 4.75%).

Downers:

Largecap and midcap losers today include Oil And Natural Gas Corporation Ltd. (162.00, -5.26%), Procter & Gamble Hygiene & Healthcare Ltd. (14,009.60, -5.05%) and Hindalco Industries Ltd. (599.80, -4.99%).

Volume Shockers

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

Top high volume gainers on BSE included Tata Coffee Ltd. (214.55, 9.32%), Nesco Ltd. (560.80, 8.62%) and EID Parry (India) Ltd. (459.10, 5.52%).

Top high volume losers on BSE were Oil And Natural Gas Corporation Ltd. (162.00, -5.26%), Procter & Gamble Hygiene & Healthcare Ltd. (14,009.60, -5.05%) and Adani Green Energy Ltd. (1,857.15, -3.44%).

Indian Oil Corporation Ltd. (1,17.20, -0.93%) was trading at 10.0 times of weekly average. Mastek Ltd. (3,235.80, 5.11%) and General Insurance Corporation of India (116.45, 4.11%) were trading with volumes 8.1 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks hit their 52-week highs, while 11 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (2,377.40, -3.42%), Cummins India Ltd. (1,107.80, -1.32%) and Indian Hotels Company Ltd. (241.25, 0.25%).

Stocks making new 52 weeks lows included - Bajaj Consumer Care Ltd. (149.70, -0.33%) and Castrol India Ltd. (100.00, -0.10%).

30 stocks climbed above their 200 day SMA including Tata Coffee Ltd. (214.55, 9.32%) and EID Parry (India) Ltd. (459.10, 5.52%). 7 stocks slipped below their 200 SMA including Procter & Gamble Hygiene & Healthcare Ltd. (14,009.60, -5.05%) and Motilal Oswal Financial Services Ltd. (880.75, -3.26%).

Trendlyne Marketwatch

29 Mar 2022

Market closes higher, ICICI Securities maintains a 'BUY' rating on Bharti Airtel

Trendlyne Analysis

Nifty 50 extended its gains throughout the day to close higher. Asian stocks trade in the green, following the US indices, which closed higher yesterday led by the tech-focused NASDAQ 100. Crude oil extended its losses from yesterday on fears of a drop in demand in China due to the lockdown in Shanghai to curb a surge in Covid-19 cases. European stocks trade in the green, taking cues from the Asian markets and Wall Street. The pan-European index, STOXX 600 extends gains to a third consecutive session despite limited hopes of a breakthrough in Russia-Ukraine peace talks.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green but underperformed the benchmark index. Nifty Metal inched higher and closed in the green for the ninth consecutive session. Nifty IT closed higher, tracking the tech-heavy NASDAQ 100 closing 1.3% higher on Monday.

Nifty 50 closed at 17,325.30 (103.3, 0.6%), BSE Sensex closed at 57,943.65 (350.2, 0.6%) while the broader Nifty 500 closed at 14,761.90 (86.1, 0.6%)

Market breadth is in the red. Of the 1,892 stocks traded today, 754 were on the uptick, and 1,113 were down.

Procter & Gamble Health, KEI Industries, Sudarshan Chemical Industries, and Blue Dart Express are trading with higher volumes as compared to Monday.
Hero MotoCorp is falling as reports suggest the Income Tax Department found more than Rs 1,000 crore bogus expenses and over Rs 100 crore cash transactions for a farmhouse in Delhi.
Veranda Learnings Solutions' Rs 200-crore IPO gets bids for 74% of the available 1.2 crore shares on offer on the first day of bidding. Retail investors quota gets overbid by 4.2X of the available 15.4 lakh shares. The offer comprises entirely of a fresh issue of Rs 200 crore.
Uma Exports Rs 60-crore IPO gets oversubscribed by 4.2X of the available 92.3 lakh shares on offer on the second day of bidding. Retail investors quota gets over bid by 5.6X of the available 63.6 lakh shares. The offer comprises entirely of a fresh issue of Rs 60 crore.
Fertilizer stocks like Madras Fertilizers, Rashtriya Chemicals & Fertilizers, National Fertilizers, and Gujarat State Fertilizer & Chemicals among others are rising in trade. The broader sector of fertilizer is also trading in the green.
Axis Securities maintains a ‘Buy’ rating on Healthcare Global Enterprises with a target price of Rs 330, indicating an upside of 21%. The brokerage has a positive outlook on the company due to its rising average occupancy rates, increasing average revenue per occupied bed (ARPOB), and its strong network in the oncology industry with high-end works and reasonable prices.
Rashtriya Chemicals & Fertilizers is trading with more than eight times its weekly average trading volume. Vaibhav Global, AIA Engineering, National Fertilizers, and Rallis India are trading at more than three times their weekly average trading volumes.
Media stocks like Inox Leisure, Network 18 Media & Investments, TV18 Broadcast, and PVR among others are falling in trade. The broader sectoral index Nifty Media is also trading in the red.
G R Infraprojects wins bid for four laning existing two lane stretches from Govindpur to Rajura and Bamni to the Maharashtra-Telangana border. The company is the lowest bidder for the project at Rs 1,744 crore
ICICI Securities maintains a 'BUY' rating on Bharti Airtel with a target price upside of 17.3%. The brokerage is positive on the telecom major as it believes that tariff hike flow through will boost Bharti's EBITDA by 20% in FY23. Additionally, emerging products like Data Centre, IoT, Security, CPaaS, and NaaS hold a future growth potential of 25% CAGR.
Power Grid Corporation of India's board approves investment in a total of five projects worth Rs 821.3 crore. Major investment projects include the strengthening of the transmission system for Srinagar-Leh sector at an estimated cost of Rs 288.7 crore.
Aurobindo Pharma acquires the domestic formulation business of Veritaz Healthcare on a slump sale basis at a consideration of Rs 171 crore on a debt-free cash-free basis. The company expects the acquisition to act as a launchpad for marketing biosimilar and other products in India.
Veranda Learnings raises Rs 46.75 crore from investors by selling 34.12 lakh shares at Rs 137 per share to anchor investors, including AG Dynamics Fund, Resonance Opportunities Fund, and Next Orbit Ventures.
Securities and Exchange Board of India (SEBI) instructs Ruchi Soya to provide an option to FPO (follow-on public offering) investors to withdraw their bids due to circulation of unsolicited text messages advertising the issue. The window for withdrawal is available between March 28 - March 30. Ruchi Soya’s Rs 4,300 crore FPO was oversubscribed 3.6X on the final day of bidding.

Riding High:

Largecap and midcap gainers today include Ruchi Soya Industries Ltd. (943.05, 15.81%), Adani Power Ltd. (173.55, 13.99%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,696.10, 9.35%).

Downers:

Largecap and midcap losers today include Hero MotoCorp Ltd. (2,210.65, -7.04%), Tata Elxsi Ltd. (8,552.85, -5.34%) and IDBI Bank Ltd. (42.75, -3.39%).

Volume Rockets

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

Top high volume gainers on BSE included Ruchi Soya Industries Ltd. (943.05, 15.81%), Adani Power Ltd. (173.55, 13.99%) and Rashtriya Chemicals & Fertilizers Ltd. (91.70, 13.00%).

Top high volume losers on BSE were Hero MotoCorp Ltd. (2,210.65, -7.04%), Thyrocare Technologies Ltd. (750.50, -3.32%) and Godrej Industries Ltd. (453.15, -1.79%).

Swan Energy Ltd. (193.25, 8.23%) was trading at 19.4 times of weekly average. NHPC Ltd. (27.35, -0.18%) and Vaibhav Global Ltd. (385.00, 6.19%) were trading with volumes 10.7 and 7.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks hit their 52-week highs, while 16 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (173.55, 13.99%), Adani Transmission Ltd. (2,461.55, 0.92%) and Cummins India Ltd. (1,122.65, 1.19%).

Stocks making new 52 weeks lows included - 3M India Ltd. (19,680.35, 0.81%) and Bajaj Consumer Care Ltd. (150.20, -1.86%).

17 stocks climbed above their 200 day SMA including GlaxoSmithKline Pharmaceuticals Ltd. (1,696.10, 9.35%) and TeamLease Services Ltd. (4,264.20, 6.64%). 6 stocks slipped below their 200 SMA including IDBI Bank Ltd. (42.75, -3.39%) and Anupam Rasayan India Ltd. (830.40, -2.39%).

Trendlyne Marketwatch

28 Mar 2022

Market closes higher, Wipro approves second interim dividend of Rs 5

Trendlyne Analysis

Nifty 50 settled in the green on a volatile day of trade. Most Asian indices closed lower as China imposed Covid-19 lockdown in Shanghai and ordered all firms in the area to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days. This led to a fall in crude oil prices expecting weaker demand due to the lockdown. Investors continue to keep an eye on the Russia-Ukraine peace talks scheduled later this week as the Ukrainian President said that Ukraine was prepared to discuss adopting a neutral status as part of the deal.

Nifty Smallcap 100, which opened in the green, lost its gains to close lower than Friday’s level. Nifty Metal, which has gained over 7% last week, closed higher. Nifty Media closed in the green, extending its gains from last week. Nifty IT closed in the red, taking cues from the tech-heavy NASDAQ 100 futures, which is trading lower.

Nifty 50 closed at 17,222.00 (69, 0.4%), BSE Sensex closed at 57,593.49 (231.3, 0.4%) while the broader Nifty 500 closed at 14,675.85 (24.2, 0.2%)

Market breadth is highly negative. Of the 1,913 stocks traded today, 528 showed gains, and 1,359 showed losses.

Cholamandalam Financial Holdings, Gland Pharma, TeamLease Services, and Vakrangee are trading with higher volumes as compared to Friday.
GAIL surges in trade as its board will mull a buyback of equity shares in its meeting to be held on Thursday.
Sharekhan maintains a ‘BUY’ rating on Laurus Labs with a target price of Rs 735, indicating an upside of 24.6%. Reports suggest that the brokerage has a positive outlook on the company as it is strengthening its presence in the biologics segment. The brokerage expects the active pharmaceutical ingredient (API) revenue to normalize in Q1FY23.
Motilal Oswal maintains a ‘Buy’ rating on State Bank of India and reduces the target price from Rs 725 to Rs 675, indicating an upside of 39%. The brokerage lowers the target price on account of the rising rate environment lowering treasury gains. The brokerage remains bullish on the company’s revival in loan growth, robust asset quality trends, and controlled funding costs.
Uma Exports Rs 60-crore IPO gets oversubscribed by 2.14X of the available 92.3 lakh shares on offer on the first day of bidding. Retail investors quota gets over bid by 2.9X of the available 63.6 lakh shares. The offer comprises entirely of a fresh issue of Rs 60 crore.
G R lnfraprojects wins bid to construct four lane greenfield expressway from Delhi to Vadodara. The company is the lowest bidder for the project at Rs 1,386 crore.
Gujarat Alkalies & Chemicals is trading with more than five times its weekly average trading volume. Aster DM Healthcare, Inox Leisure, EIH, and PVR are trading at more than three times their weekly average trading volumes.
DLF is set to invest Rs 2,000 crore in construction of two new shopping malls in Gurgaon and Goa, according to a news report. The realty major is bullish on the revival of organized retail sector in India post the waning of third Covid wave.
Wipro approves second interim dividend payment of Rs 5 per equity share for FY22. Total payout amounts to Rs 2,000 crore. The record date is April 6, 2022.
IndiaMART InterMESH announces acquisition of a 51% stake in software-as-a-service (SAAS) firm Livekeeping for Rs 45.98 crore in an all-cash deal. The company expects the investment to aid it in achieving its long-term objective of offering various SAAS-based solutions for businesses.
Aster DM Healthcare is rising as it signs a memorandum of understanding (MOU) with the government of Tamil Nadu on Saturday in Dubai, UAE. With the signing of this MOU, the company intends to invest up to Rs 500 crore into developing hospitals, pharmacies, and laboratories in Tamil Nadu.
Emami announces acquisition of the Dermicool brand from Reckitt for a total consideration of Rs 432 crore. Dermicool is one of the leading brands in the prickly heat powder and cool talcum category. The acquisition will be funded through internal accruals and is subject to customary closing conditions.
Multiplex chains PVRand Inox Leisure are set to merge, creating India’s largest film exhibition entity with a network of more than 1,500 screens. According to the merger terms, shareholders holding 10 shares of Inox will get 3 shares of PVR in exchange. The combined entity will add nearly 180-200 screens every year from hereon.

Riding High:

Largecap and midcap gainers today include Tata Elxsi Ltd. (9,035.50, 7.08%), Adani Power Ltd. (152.25, 6.32%) and Adani Total Gas Ltd. (2,141.20, 4.21%).

Downers:

Largecap and midcap losers today include Ruchi Soya Industries Ltd. (814.30, -6.14%), Endurance Technologies Ltd. (1,123.80, -5.50%) and Container Corporation of India Ltd. (659.95, -4.33%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Supreme Petrochem Ltd. (1,012.60, 12.25%), Lemon Tree Hotels Ltd. (68.25, 12.07%) and Inox Leisure Ltd. (522.85, 11.32%).

Top high volume losers on BSE were Endurance Technologies Ltd. (1,123.80, -5.50%), Brightcom Group Ltd. (85.80, -4.98%) and Tata Teleservices (Maharashtra) Ltd. (159.20, -4.98%).

Aster DM Healthcare Ltd. (200.00, 10.53%) was trading at 12.5 times of weekly average. Gujarat Alkalies & Chemicals Ltd. (896.85, 10.79%) and JK Tyre & Industries Ltd. (116.15, 6.12%) were trading with volumes of 6.8 and 5.9 times the weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows, and moving averages

20 stocks overperformed with 52-week highs, while 17 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (2,439.00, -0.40%), Cummins India Ltd. (1,109.40, 2.12%) and Delta Corp Ltd. (319.85, -0.09%).

Stocks making new 52 weeks lows included - Bank of Maharashtra (17.75, 1.72%) and Castrol India Ltd. (100.30, -2.53%).

11 stocks climbed above their 200 day SMA including Aster DM Healthcare Ltd. (200.00, 10.53%) and Sunteck Realty Ltd. (449.65, 7.43%). 16 stocks slipped below their 200 SMA including Rajesh Exports Ltd. (661.50, -3.40%) and Alok Industries Ltd. (24.75, -3.32%).

Trendlyne Marketwatch

25 Mar 2022

Market closes lower, Exide Industries starts production at its new battery recycling facility

Trendlyne Analysis

Nifty 50 closed lower after starting the day on a positive note. Asian indices closed mixed despite strong gains by the US indices led by technology stocks on Thursday. Crude oil prices ease but still trade at elevated levels. Investors continue to monitor the effect of rising commodity prices on already high inflation levels. Indian state fuel retailers raise petrol and diesel prices by 80 paise a litre each today, making it the third hike in four days.

Nifty Next 50 closed flat despite the benchmark index closing in the red. Nifty Metal extends its six-day winning streak by closing marginally higher. Nifty Media, which rose 6% yesterday, closed flat. Nifty IT ended the trading session sharply lower despite the tech-heavy NASDAQ 100 rising 2.2% yesterday.

Nifty 50 closed at 17,153.00 (-69.8, -0.4%), BSE Sensex closed at 57,362.20 (-233.5, -0.4%) while the broader Nifty 500 closed at 14,651.70 (-47.7, -0.3%).

Market breadth is overwhelmingly negative. Of the 1,883 stocks traded today, 586 showed gains, and 1,269 showed losses.

Bajaj Holdings & Investment, Ujjivan Small Finance Bank, Max Healthcare Institute, and IIFL Finance are trading with higher volumes as compared to Thursday.
Torrent Power announces the completion of the acquisition of a 50 MW solar power plant from Lightsource bp and UKCI for an enterprise value of Rs 300 crore.
Consumer facing companies are trading in red with stocks like Titan Company, Whirlpool of India, Voltas, Crompton Greaves and Bajaj Electricals falling. The broader sectoral index i.e. BSE Consumer Durables is also down today.
Inox Leisure surges to touch its 52-week high of Rs 479.45 as the business outlook improves on the easing of pandemic-related restrictions with a strong content line-up for the next few months.
Sugar stocks like Balrampur Chini Mills, Dhampur Sugar Mills, Andhra Sugars, Uttam Sugar Mills among others are falling as reports suggest that India could cap sugar exports to meet domestic demand. India is considering restrictions on sugar exports for the first time in six years and may cap exports at around eight million tonnes.
Axis Securities initiates coverage on G R Infraprojects with a ‘BUY’ rating and a target price of Rs 1,775, indicating an upside of 23%. The brokerage has a positive outlook on the company as it has a cumulative order book of Rs 16,692 crore with comfortable revenue visibility for the next 2 years. The brokerage expects the company’s revenue to grow a 12% CAGR over FY22-FY24
Bharti Airtel prepays Rs 8,815 crore to clear deferred liabilities for spectrum acquired in 2015, the prepayment is for installments due in FY2027 and FY2028. Over the last four months, the company has cleared Rs 24,334 crore of its deferred spectrum liabilities ahead of schedule.
Container Corporation of India is trading with more than nine times its weekly average trading volume. Poly Medicure, Tata Teleservices (Maharashtra),Muthoot Finance, and EIH are trading at more than four times their weekly average trading volumes.
G R Infraprojects receives a letter of award from the National Highways Authority of India for a new highway project in Madhya Pradesh for a total length of 69.1 Km. The bid cost of the project is Rs 907 crore.
Zen Technologies is rising as it receives a project sanction order (PSO) from the Indian Army. The project includes the design and development of a prototype of the Integrated Air Defence Combat Simulator (IADCS). The prototype is to be made ready for user trial readiness review (UTRR) within a period of 30 weeks.
Moody’s Investors Service's report suggests that fuel retailers like Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation are losing Rs 19,000 crore in revenue. This is because of constant prices of petrol and diesel from November 4, 2021 – March 21, 2022, despite the rise in crude oil prices. The companies are losing over Rs 1,900 per barrel with the current market prices.
Lumax Auto Technologies receives approval for application under component champion incentive scheme of production linked incentive scheme for automobile and auto component industry.
Chloride Metals, a wholly-owned subsidiary of Exide Industries, starts commercial production at its new green field manufacturing facility of battery recycling in the state of West Bengal. The 21-acre recycling plant has a total installed capacity of 1,08,000 MT p.a.
Canada Pension Plan Investment Board sells a 2.01% stake (4 crore shares) of Kotak Mahindra Bank on Thursday. This bulk deal is worth Rs 6,800 crore.

Riding High:

Largecap and midcap gainers today include Container Corporation of India Ltd. (689.80, 10.99%), Tata Elxsi Ltd. (8,438.20, 10.93%) and Adani Power Ltd. (143.20, 8.36%).

Downers:

Largecap and midcap losers today include Indus Towers Ltd. (203.10, -5.00%), Ajanta Pharma Ltd. (1,894.35, -4.32%) and Astral Ltd. (1,957.10, -3.89%).

Volume Shockers

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

Top high volume gainers on BSE included Container Corporation of India Ltd. (689.80, 10.99%), Tata Elxsi Ltd. (8,438.20, 10.93%) and Lemon Tree Hotels Ltd. (60.90, 9.83%).

Top high volume losers on BSE were Muthoot Finance Ltd. (1,307.65, -3.19%), Abbott India Ltd. (16,021.85, -2.72%) and India Tourism Development Corporation Ltd. (401.05, -0.64%).

Shriram City Union Finance Ltd. (1,621.75, 4.28%) was trading at 9.1 times of weekly average. Poly Medicure Ltd. (847.85, 2.06%) and EIH Ltd. (149.00, 7.43%) were trading with volumes 8.6 and 7.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

18 stocks hit their 52-week highs, while 2 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Cholamandalam Investment & Finance Company Ltd. (732.25, 0.12%), Cummins India Ltd. (1,086.35, -0.70%) and Delta Corp Ltd. (320.15, 2.27%).

Stocks making new 52 weeks lows included - Castrol India Ltd. (102.90, -0.68%) and Max Financial Services Ltd. (732.10, -2.08%).

18 stocks climbed above their 200 day SMA including Container Corporation of India Ltd. (689.80, 10.99%) and NLC India Ltd. (64.15, 4.22%). 9 stocks slipped below their 200 SMA including Asahi India Glass Ltd. (408.55, -2.54%) and Maruti Suzuki India Ltd. (7,415.45, -1.87%).

Trendlyne Marketwatch

24 Mar 2022

Market closes flat, Indraprastha Gas increases prices of CNG by Rs 0.5/kg

Trendlyne Analysis

Nifty 50 closed flat after moving from green to red between gains and losses on a volatile day of trade. This volatility is expected to continue amid rising commodity prices. Crude oil prices inch higher as Russian President Vladimir Putin said that Russia will seek payment in roubles for gas sold to “unfriendly” countries. US indices fell on Thursday after volatile commodity prices add pressure to the market already dealing with record inflation level. Russian markets partially reopen after a month-long shutdown following the invasion of Ukraine.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green despite the benchmark index closing flat. Nifty Media closed 6% higher led by the heavyweights' Zee Entertainment and TV18 broadcast. Nifty Metal closed in the green to extend its winning streak to six days. Nifty IT closed higher, tracking the tech heavy NASDAQ 100 futures, which is trading higher.

Nifty 50 closed at 17,222.75 (-22.9, -0.1%), BSE Sensex closed at 57,595.68 (-89.1, -0.2%) while the broader Nifty 500 closed at 14,699.35 (4.2, 0.0%)

Market breadth is in the red. Of the 1,880 stocks traded today, 723 showed gains, and 1,123 showed losses.

V-Guard Industries, Kalpataru Power Transmissions, Prism Johnson, and Cholamandalam Financial Holdings trading with higher volumes as compared to Wednesday.
Emkay Global recommends a ‘Buy’ on State Bank of India with a target price of Rs 680 as it expects credit growth to be around 9-10% in FY22. The brokerage also sees the bank’s operating profit to increase by CAGR 20% over FY22-24 led by rise in net interest income and fee income.
Media stocks like Zee Entertainment, Dish TV India, TV18 Broadcast, Network 18 Media & Investments among others are rising in trade. The broader sectoral index Nifty Media is also rising in trade.
Lupin is rising as it receives US Food and Drug Administration (USFDA) approval for its abbreviated new drug application (ANDA), Sildenafil for oral suspension, 10 mg/mL. The product is a generic equivalent of Revatio, which has an estimated annual sales of $66 million in the US. Sildenafil is used to treat pulmonary arterial hypertension.
HCL Technologies ties-up with Latin American company NEORIS, a leading global digital accelerator, to strengthen its digital transformation capabilities and expand its market presence in Mexico and South America
Indraprastha Gas increases the prices of compressed natural gas by Rs 0.50 per kg and piped natural gas by Rs 1 per standard cubic metre for Delhi with effect from today. This is the third price hike after the company hiked gas prices back in October 2021 and January 2022.
Bajaj Holdings & Investment is trading with more than nine times its weekly average trading volume. SIS, Minda Corporation, Kotak Mahindra Bank, and Zee Entertainment Enterprises are trading at more than five times their weekly average trading volumes.
Ruchi Soya is falling as its Rs 4,300 crore follow-on public offering (FPO) opens for subscription. The company raises Rs 1,290 crore from anchor investors ahead of its FPO. At the upper end of the price band of Rs 650, the company’s FPO is available at more than a 40% discount to its current market price.
Pharma stocks like Dr. Reddy's Laboratories, Aurobindo Pharma, Lupin, and Glenmark Pharmaceuticals are rising in trade. The broader sectoral index Nifty Pharma is also trading in the green.
Sharekhan maintains a ‘Buy’ rating on APL Apollo Tubes with a target price of Rs 1,100 indicating an upside of 28%. The brokerage believes the company’s investment in Shankara Building Products’ can potentially double its sales and improve its volumes as it will be able to use extensive retail and wholesale network. The brokerage expects the company to expand distribution into untapped markets through its investment.
Zee Entertainment surges as Invesco Developing Markets Fund (Invesco) withdraws its requisition notice, seeking the removal of MD and CEO Punit Goenka from the board of the company. Invesco withdraws its notice a day after winning its appeal in the Bombay High Court. Invesco is the largest shareholder in the company with a stake of 18%.
Motilal Oswal maintains a ‘BUY’ rating on Ajanta Pharma with a target price of Rs 2,500, indicating an upside of 29%. However, the brokerage reduces the target price by 10% as it expects the slow pace of abbreviated new drug application (ANDA) filings to hinder growth over the medium term. The brokerage remains positive on the long term on the back of robust outlook in the Branded Generics segment.
RBI approves SBI Mutual Fund, along with other SBI Group companies for acquiring 9.99% stake in ICICI Bank. SBI Mutual Fund holds 5.72% stake in ICICI Bank, till December 2021.

Riding High:

Largecap and midcap gainers today include Zee Entertainment Enterprises Ltd. (298.90, 16.74%), Dr. Reddy's Laboratories Ltd. (4,328.50, 4.87%) and Adani Total Gas Ltd. (1,979.75, 4.31%).

Downers:

Largecap and midcap losers today include L&T Finance Holdings Ltd. (80.05, -8.25%), Hindustan Petroleum Corporation Ltd. (275.00, -3.39%) and Kotak Mahindra Bank Ltd. (1,714.15, -3.14%).

Volume Rockets

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

Top high volume gainers on BSE included Zee Entertainment Enterprises Ltd. (298.90, 16.74%), India Tourism Development Corporation Ltd. (403.65, 13.82%) and Sequent Scientific Ltd. (139.45, 12.87%).

Top high volume losers on BSE were Kotak Mahindra Bank Ltd. (1,714.15, -3.14%), IIFL Finance Ltd. (283.35, -1.01%) and eClerx Services Ltd. (2,349.80, -0.44%).

SIS Ltd. (490.55, 2.11%) was trading at 11.9 times of weekly average. Bajaj Holdings & Investment Ltd. (5,057.65, 0.23%) and Minda Corporation Ltd. (206.85, 5.11%) were trading with volumes 9.9 and 8.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52-week highs, while 3 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Cholamandalam Investment & Finance Company Ltd. (731.35, 1.33%), Cummins India Ltd. (1,094.00, 0.64%) and Hindalco Industries Ltd. (621.95, 2.22%).

Stocks making new 52 weeks lows included - Max Financial Services Ltd. (747.65, -2.90%) and Procter & Gamble Health Ltd. (4,266.00, 0.13%).

15 stocks climbed above their 200 day SMA including Zee Entertainment Enterprises Ltd. (298.90, 16.74%) and India Tourism Development Corporation Ltd. (403.65, 13.82%). 10 stocks slipped below their 200 SMA including L&T Finance Holdings Ltd. (80.05, -8.25%) and Hatsun Agro Products Ltd. (1,131.30, -3.34%).

Trendlyne Marketwatch

23 Mar 2022

Market closes lower, ICICI Direct initiates coverage on Star Health with a ‘Buy’ rating

Trendlyne Analysis

Nifty 50 closed in the red after opening higher on a volatile day of trade. Barring Indian indices, all Asian indices closed in the green, tracking the US indices. The US index S&P 500 has risen in five of the last six trading sessions. US stocks have been climbing since the Federal Reserve handed down an expected quarter percentage point interest rate hike last week to curb high inflation levels. The current trend in the markets suggests that the investors believe that the US economy is strong enough to weather the higher borrowing costs. Crude oil prices edge higher as investors continue to monitor the war situation in Ukraine.

Nifty Smallcap 100 closed lower while Nifty Midcap 100 closed in the green to outperform the benchmark index. Nifty Metal closed sharply higher to extend its four-day winning streak. Nifty IT closed flat despite the tech-heavy NASDAQ 100 closing in the green yesterday.

Gloom in markets in today's trading. Nifty 50 closed at 17,245.65 (-69.9, -0.4%), BSE Sensex closed at 57,684.82 (-304.5, -0.5%) while the broader Nifty 500 closed at 14,695.15 (-28.9, -0.2%).

Market breadth is in the red. Of the 1,878 stocks traded today, 728 were on the uptrend, and 1,107 went down.

AIA Engineering, J B Chemicals & Pharmaceuticals, CSB Bank, and SKF India trading with higher volumes as compared to Tuesday.
Motilal Oswal maintains a ‘Neutral’ rating on Nestle India and increases the target price to Rs 18,700 from Rs 18,085, indicating an upside of 5%. The brokerage believes the company is well placed to capitalize on immense growth opportunities due to its strong brand and distribution strength. The brokerage finds the long-term narratives for earnings growth to be very attractive.
ICICI Direct initiates coverage on Star Health and Allied Insurance with a ‘Buy’ rating and target price of Rs 800, indicating an upside of 23%. The brokerage expects the company to maintain its market dominance due to its focus on product innovation, competitive pricing, and a strong distribution push.
Mtar Technologies gets declared lowest bidder by NPCIL for fuel transfer system of reactors and FM bridge & carriage assemblies of nuclear reactors. The total value of projects is approximately Rs 135 crore.
Hero MotoCorp is falling on the bourses as Income Tax Department conducts search operations at the company’s 25 premises for suspected tax evasion. According to reports, the search operation is ongoing at the offices and residences of Hero MotoCorp senior management in Delhi, Gururgram, and in other parts of North India
Indian Hotels’ stock surges as its qualified institutional placement (QIP) committee of the board approves its QIP issue. The company plans to mobilize around Rs 2,000 crore through the QIP and has fixed the floor price at Rs 203.48 per share.
V-Guard Industries is trading with more than seven times its weekly average trading volume. Jyothy Labs, TeamLease Services, Zydus Wellness, and Gland Pharma are trading at more than three times their weekly average trading volumes.
SBI Life Insurance announces an interim dividend of Rs 2 per share for FY22. The total payout amounts to Rs 200 crore. The record date is March 30, 2022.
Adani Ports & SEZ records cargo volumes of 300 million tonnes on a year to date basis in FY22. APSEZ had achieved the target of handling 200 million tonnes of cargo three years back. The company is all set to reach the volumes milestone of 500 million tonnes by 2025, according to its latest press release.
SBI Cards and Payments announces an interim dividend of Rs 2.50 per share for FY22. The total payout amounts to Rs 235.8 crore. The record date is March 31, 2022.
Infosys announces acquisition of Oddity, a Germany-based digital experience and marketing agency, for Rs 419 crore in an all-cash deal. The company expects the acquisition to bolster its creativity, branding, and experience design capabilities.
Piramal Capital and Housing Finance (PCHFL) initiates bankruptcy proceedings against Reliance Power and its subsidiary Reliance Natural Resources (RNRL) on default of Rs 526-crore loan. The housing finance company acquired Dewan Housing Finance (DHFL) for a total consideration of Rs 34,250 crore in 2021, merging it with PCHFL. DHFL went bankrupt as it owes more than Rs 90,000 crore to various lenders.

Riding High:

Largecap and midcap gainers today include L&T Finance Holdings Ltd. (87.25, 16.18%), Adani Power Ltd. (130.20, 5.21%) and Tata Communications Ltd. (1,184.30, 3.64%).

Downers:

Largecap and midcap losers today include Atul Ltd. (9,686.95, -2.86%), Info Edge (India) Ltd. (4,626.25, -2.82%) and Muthoot Finance Ltd. (1,336.50, -2.37%).

Movers and Shakers

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

Top high volume gainers on BSE included L&T Finance Holdings Ltd. (87.25, 16.18%), Suven Pharmaceuticals Ltd. (589.95, 10.43%) and IFB Industries Ltd. (1,005.95, 7.28%).

Top high volume losers on BSE were Lakshmi Machine Works Ltd. (9,957.45, -6.01%), TeamLease Services Ltd. (3,845.35, -3.63%) and Zydus Wellness Ltd. (1,470.60, -0.16%).

Jyothy Labs Ltd. (144.65, -0.07%) was trading at 15.5 times of weekly average. MOIL Ltd. (182.35, 5.40%) and Kalpataru Power Transmissions Ltd. (371.55, -0.01%) were trading with volumes 14.9 and 10.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Century Plyboards (India) Ltd. (719.70, 1.29%), Cholamandalam Investment & Finance Company Ltd. (721.75, 1.38%) and Cummins India Ltd. (1,087.05, 3.35%).

Stock making new 52 weeks lows included - Procter & Gamble Health Ltd. (4,260.60, -0.67%).

19 stocks climbed above their 200 day SMA including L&T Finance Holdings Ltd. (87.25, 16.18%) and MOIL Ltd. (182.35, 5.40%). 2 stocks slipped below their 200 SMA including BEML Ltd. (1,534.50, -0.83%) and Welspun Corp Ltd. (147.60, 1.79%).