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

07 Dec 2022

Markets closes lower, ICICI Securities upgrades rating on Thermax to ‘Buy’

Trendlyne Analysis

Nifty 50 lost over 80 points and closed in the red on a volatile day of trade. European indices followed the global trend and traded lower than Tuesday’s levels amid weak global cues. Reserve Bank of India’s Monetary Policy Committee raised the repo rate by 35 bps to 6.25% from the earlier 5.9%. RBI also revised down India’s FY23 GDP growth to 6.8% from 7%. Major Asian indices closed in the red, in line with the US indices, which closed lower on Tuesday.

US stocks fell as investors continued to assess the US Fed’s move in its next meeting to combat inflation. In addition, Goldman Sach’s CEO David Solomon warned about jobs and pay cuts amid uncertain outlook. The tech-heavy NASDAQ 100 index fell 2% while the Dow Jones closed 1% lower. Brent crude oil futures traded in the red after falling over 8% in the last three trading sessions as traders assess slowing global economic growth weakening crude oil demand.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Metal and Nifty Media closed lower than Tuesday’s close. Nifty IT closed in the red, taking cues from the NASDAQ 100, which closed deep in the red on Tuesday.

Nifty 50closed at 18,560.50 (-82.3, -0.4%), BSE Sensexclosed at 62,410.68 (-215.7, -0.3%) while the broader Nifty 500closed at 15,862.00 (-60.9, -0.4%)

Market breadth is in the red. Of the 1,950 stocks traded today, 731 were gainers and 1,154 were losers.

Money Flow Index (MFI) indicates that stocks like GMR Airports Infrastructure, Aditya Birla Capital, Sharda Cropchemand JK Lakshmi Cementare in the overbought zone.
Brent crude oil prices slipped below $80 per barrel due to weakening global demand.
#TheGlobalExclusive | @FGEnergy's Fereidun Fesharaki says

-Oil could fall below $80/bbl if China locks down again
-China is importing more oil from Russia
-Singapore GRMs were ridiculously high in June 2022 @nikunjdalmia #Oil #SingaporeGRMs #China pic.twitter.com/8NbNsx9jJQ
— ET NOW (@ETNOWlive) December 7, 2022
UNO Minda beats Schaeffler India in QoQ and YoY revenue and profit growth, FII holdings, PB ratio and broker average rating. But it lags in PE ratio, annual RoE, one-year price change and broker average target upside.
Indiabulls Real Estate rises despite the broader sectoral index Nifty Realty falling in trade. The stock ranks negative and checks 35% parameters on Trendlyne’s checklist. Meanwhile, it shows up in a screener of stocks with PE Ratio under 10.
Dabur India and Cummins India hit their 52-week highs of Rs 610.7 and Rs 1458.9 respectively. Dabur India rises for two sessions, while Cummins India trades higher for five sessions.
Ahluwalia Contracts secures an order worth Rs 55.4 crore pertaining to a construction at Plaksha University, in Punjab. With this, the company’s order inflow in FY23 stands at Rs 4,017.6 crore. The stock shows up in a screener for companies with low debt.
High-return durable stocks like Allcargo Logistics, HCL Technologies and Hindustan Aeronautics gain more than 13% in the past 90 days.
Apollo Hospitals Enterprise, Tata Steeland Hindalco Industriesoutperform their respective sectors in annual profit growth.
Healthcare Equipment & Supplies, Telecommunications Equipment and Metals & Mining sectors gain over 6.5% in the past month.
FII holdings of PI Industries, Zomato and Triveni Turbine increase by 17%, 15.5% and 5.3% QoQ respectively.
Seshagiri Rao, Joint Managing Director and Group CFO of JSW Steel, says that the global demand for steel fell 3-4% but production levels are adapting. He adds that the import of steel to India is increasing as its economy is in a better position compared to its peers.
#OnCNBCTV18 | Steel demand has come down globally, and production levels are getting adjusted in line with fall in steel demand

Companies will not see an impact on capex due to rising finance costs

Seshagiri Rao, JSW Steel to CNBC-TV18#CNBCTV18At23 pic.twitter.com/ztXq8Y6u8F
— CNBC-TV18 (@CNBCTV18Live) December 7, 2022
ICICI Securities upgrades its rating on Thermax to ‘Buy’ from ‘Add’ with a target price of Rs 2,480. This indicates an upside of 18.8%. The brokerage is positive on the firm’s prospects given its technical expertise, strong order inflow, robust balance sheet and prudent working capital management. It also believes the company will be a key beneficiary of the centre’s thrust towards clean energy and decarbonisation initiatives. It expects Thermax’s revenue to grow at a CAGR of 19% over FY22-25.
Realty stocks like DLF, Macrotech Developers, Godrej Properties and Oberoi Realty are falling in trade as RBI announces a decision to hike rates by 35 bps to 6.25%. The broader sectoral index Nifty Realty is also trading in the red.
Siemens, AU Small Finance Bankand Power Finance Corp trade above their third resistance or R3 level as the market trades lower.
RBI downgrades its forecast for India’s GDP growth in FY23 to 6.8% from the earlier 7%. It keeps the inflation forecast unchanged at 6.7%.
Here's a summary of MPC announcements made by Governor Shaktikanta Das ????#RBI #RBIMPC #MPC #RBIPolicy pic.twitter.com/SWh0qYLdsx
— Moneycontrol (@moneycontrolcom) December 7, 2022
Media stocks like Network 18 Media & Investments, PVR, Inox Leisure,TV18 Broadcast and Zee Entertainment Enterprises are falling in trade. All the constituents of the broader sectoral index Nifty Media are also trading in the red.
Larsen & Toubro is rising as its construction business secures orders worth more than Rs 7,000 crore from ArcelorMittal Nippon Steel India. The orders are for the installation of two blast furnaces at Hazira, in Gujarat, and building a six-metric tonnes per annum ore beneficiation plant in Sagasahi, Odisha.
Siemens is rising after emerging as the lowest bidder for the 9,000 HP (horsepower) electric locomotives project in Dahod, Gujarat. The stock has a high rank of 52.2% in Trendlyne’s checklist score. It also shows up in a screener for companies with improving RoA over the past two years.
Reserve Bank of India’s Monetary Policy Committee raises the repo rate by 35 bps to 6.25% from the earlier 5.9%.
#BREAKING: MPC Meet: Reserve Bank of India raises repo rate by a smaller 35 bps amid moderating inflation pressure https://t.co/xdEdyPcGoV #RBIPolicy #MPC #RBI
— Economic Times (@EconomicTimes) December 7, 2022
Bikaji Foods is rising as it reports an increase in net profit by 43% YoY to Rs 41.5 crore and net sales by 31.8% YoY. The company also saw a YoY increase in raw material and finance costs by 25% and 74% respectively in Q2. Deepak Agarwal, MD of the company, says, "We will continue to expand our distribution network and start CSD channel in the current quarter." The company also shows up in a screener of stocks with low debt.
Ircon International wins an order worth Rs 122 crore for the design, installation, testing and certifying of a telecommunication system for a junction in Sri Lanka Railways. The contract will be completed in 24 months. The company shows up in a screener of stocks with high TTM EPS growth.
Fennel Private sells a 0.95% stake (6 lakh shares) in Sapphire Foods for Rs 83.6 crore in a bulk deal on Tuesday. Meanwhile, Campbell Advertising sells a 0.2% stake in Easy Trip Planners for Rs 19.3 crore. Quant Mutual Fund buys a 0.5% stake in Jindal Stainless for Rs 48 crore in another bulk deal.

Riding High:

Largecap and midcap gainers today include Siemens Ltd. (2,905.35, 5.12%), Indian Overseas Bank (24.05, 4.57%) and Hindustan Petroleum Corporation Ltd. (232.55, 3.79%).

Downers:

Largecap and midcap losers today include Oberoi Realty Ltd. (912.00, -3.42%), Jubilant Foodworks Ltd. (538.70, -2.99%) and Atul Ltd. (8459.65, -2.70%).

Movers and Shakers

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

Top high volume gainers on BSE included Hikal Ltd. (385.85, 9.83%), Central Bank of India (28.15, 6.83%) and Rashtriya Chemicals & Fertilizers Ltd. (135.70, 5.85%).

IFB Industries Ltd. (939.50, 3.26%) was trading at 14.5 times of weekly average. Siemens Ltd. (2,905.35, 5.12%) and HDFC Asset Management Company Ltd. (2,273.80, 3.73%) were trading with volumes 9.2 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

23 stocks hit their 52-week highs, while 1 stock tanked below their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (336.15, 3.78%), AIA Engineering Ltd. (2,748.00, -1.22%) and Bank of Baroda (176.50, 1.20%).

Stock making new 52 weeks lows included - Indigo Paints Ltd. (1,326.15, -0.47%).

7 stocks climbed above their 200 day SMA including IFB Industries Ltd. (939.50, 3.26%) and ICICI Lombard General Insurance Company Ltd. (1,248.00, 2.28%). 17 stocks slipped below their 200 SMA including Sobha Ltd. (634.40, -5.19%) and Sterlite Technologies Ltd. (170.90, -3.91%).

Trendlyne Marketwatch

06 Dec 2022

Market closes lower, World Bank upgrades India’s GDP growth to 6.9% in FY23

Trendlyne Analysis

Indian indices recovered from their day’s low but still closed in the red on a volatile day of trade. European indices traded lower than Monday's levels amid weak global cues. Investors look ahead to the RBI’s Monetary Policy Committee decision to be announced tomorrow. Most major Asian indices closed in the red, in line with the US indices which closed lower on Monday. US stocks fell amid rising treasury yields as unexpectedly strong US Services data muddled the Fed’s rate hike views. The tech-heavy NASDAQ 100 fell 1.7% while the Dow Jones closed 1.4% lower. Brent crude oil futures traded higher after falling over 4.5% in the last two trading sessions.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Pharma and Nifty Auto closed lower than Monday’s levels. Nifty IT closed in the red, taking cues from the NASDAQ 100, which closed lower on Monday.

Nifty 50closed at 18,642.75 (-58.3, -0.3%), BSE Sensexclosed at 62,626.36 (-208.2, -0.3%) while the broader Nifty 500closed at 15,922.85 (-44.4, -0.3%)

Market breadth is in the red. Of the 1,948 stocks traded today, 786 were gainers and 1,107 were losers.

Dabur India beats Marico in YoY & QoQ revenue growth, QoQ profit growth and broker average rating but lags in PE ratio, annual RoCE and average broker target upside.
Westlife Developmentand Rashtriya Chemicals & Fertilizershit their all-time highs of Rs 815.5 and Rs 132.2 respectively. Westlife Development rises for three sessions, while the other trades higher for four sessions.
Maruti Suzuki India is falling as it plans to recall 9,125 vehicles manufactured between November 2 and 28 on the suspicion of a possible defect in a seat belt component. The stock shows up in a screener for companies with declining net cash flow.
Natco Pharma is rising as it receives a favourable judgement from the Delhi High Court. The court dismissed the appeal filed by FMC Corp, FMC Singapore and FMC India stating that the Natco chlorantraniliprole (CTPR) process does not infringe FMC's Indian patent 298645.
Easy Trip Planners falls more than 8% in trade. However, the stock ranks high as it passes 54% on Trendlyne’s checklist. The stock shows up in a screener with high momentum score.
World Bank upgrades its forecast for India’s FY23 GDP growth to 6.9% from the earlier 6.5%. It says that India is in a better position to tackle global pressures. However, it expects inflation of 7.1% in FY23.
The World Bank has revised its 2022-23 GDP forecast upward to 6.9% from 6.5% due to robust economic activities in India, says World Bank.#IndianEconomy

(ANI)

???? Catch the day's latest news ? https://t.co/NppYnSx1dl pic.twitter.com/BSDXD3XR9c
— Economic Times (@EconomicTimes) December 6, 2022
Punjab National Bank touches a 52-week high of Rs 57.5. The stock ranks medium and checks 46% parameters on Trendlyne’s checklist. It shows up in a screener of stocks with improving momentum score and RoE in the past two years.
ICICI Direct maintains its ‘Buy’ rating on Motherson Sumi Wiring India with a target price of Rs 75, implying an upside of 25%. The brokerage is optimistic about the company’s growth prospects given the rise in components per vehicle on the back of increasing electrification of vehicles. It also expects the firm to benefit from the demand recovery in the domestic automobile space. The brokerage estimates the company’s net profit to grow at a CAGR of 25.9% over FY22-25.
India’s sugar output could fall by 7% this year due to adverse weather conditions and lead to a decrease in exports, say reports.
India's #SugarOutput is likely to fall 7% this year as erratic weather conditions have cut cane yields, which could dampen exports from the world's biggest producer of the sweetener, farmers, millers and traders said. | #Sugar https://t.co/1JJdmxKv63
— CNBC-TV18 (@CNBCTV18News) December 6, 2022
Ratnamani Metals & Tubes rises as it receives domestic and export orders aggregating to Rs 262.52 crore.
Metal stocks like Tata Steel, Hindalco Industries and Steel Authority of India (SAIL) are falling in trade. All constituents of the broader BSE Metal index trade in the red.
Gravita India is rising as its step down subsidiary, Gravita Togo SAU, starts production of aluminium cast alloys from a recycling plant in Togo, West Africa. The plant has an annual capacity of 4,000 MTPA, which will aid in adding Rs 60 crore per annum to the revenue with gross margins of approximately 26%.
Indian rupee falls to a one-month low of 82.30 against the US dollar in early trade today.
#Rupee extended its opening decline against the dollar on Tuesday, to slip to its lowest level in over a month and below a key level. https://t.co/9mDyGgsVKH
— ETMarkets (@ETMarkets) December 6, 2022
PSU bank stocks like Punjab & Sind Bank, Bank of India, Union Bank of Indiaand UCO Bankare rising in trade. The broader sectoral index Nifty PSU Bankis also trading in the green.
Bajaj Consumer Care is rising as the company's board is set to consider a proposal for the buyback of fully paid equity shares at its meeting on Friday. The company features in a screener of stocks with improving cash flow and good durability.
Ahluwalia Contracts (India) is rising as it secures an order worth Rs 174.9 crore from the government of Assam. The order pertains to the construction of a public auditorium with a seating capacity of 5,000 in Guwahati. The company shows up in a screener for stocks in the PE Buy zone with a good durability score and a rising momentum score.
Sunil Duggal, Group CEO of Vedanta, says that easing of Covid norms in China will help improve metal prices. He adds that the company is increasing the capacity of electrosteel and aims to subsequently expand it to 10 million tonnes.
#OnCNBCTV18 | Target #EBITDA margin in the range of 30-35% for #FY23. #China easing #COVID norms is a positive for #metals prices. Will keep evaluating the option of declaring further #dividends, says Sunil Duggal of #Vedanta pic.twitter.com/i28MTbQKDd
— CNBC-TV18 (@CNBCTV18Live) December 6, 2022
Porinju Veliyath sells a 0.9% stake in Hindware Home Innovation in a bulk deal on Monday. The approx value of the deal is Rs 24.7 crore.
IRB Infrastructure Developers is rising after the company and IRB Infrastructure Trust report an increase in toll collections by 39% YoY to Rs 365.9 crore in November. The company’s Chairman and MD Virendra Mhaiskar says, "With inflationary concerns gradually easing, traffic has remained strong and grown on an MoM basis." The stock is nearing its 52-week high.
Sequoia Capital India sells a 3.7% stake (20 lakh shares) in Go Fashion (India) for Rs 228 crore in a bulk deal. Canara Robeco Mutual Fund picks up a 0.59% stake in Go Fashion in another deal.
Promoter group Srinivasan Trust sells a 0.54% stake (25.6 lakh shares) in TVS Motor Co for Rs 262.1 crore in a bulk deal. Meanwhile, Inox Leasing and Finance (promoter group) sells a 1.64% stake in Gujarat Fluorochemicals for Rs 589.5 crore in a bulk deal.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (58.70, 8.20%), Union Bank of India (88.15, 6.33%) and Bank of India (90.30, 4.63%).

Downers:

Largecap and midcap losers today include PB Fintech Ltd. (457.70, -4.13%), LTIMindtree Ltd (4,815.55, -3.21%) and Varun Beverages Ltd. (1,309.60, -3.19%).

Movers and Shakers

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

Top high volume gainers on BSE included Punjab & Sind Bank (29.85, 19.40%), Jindal Stainless Ltd. (197.30, 10.22%) and PNC Infratech Ltd. (291.15, 9.39%).

Top high volume losers on BSE were Aptus Value Housing Finance India Ltd. (306.05, -2.11%), Cera Sanitaryware Ltd. (5,329.00, -1.65%) and Kansai Nerolac Paints Ltd. (445.00, -0.53%).

TCNS Clothing Co. Ltd. (590.50, 3.72%) was trading at 60.0 times of weekly average. Nesco Ltd. (651.15, 1.96%) and Narayana Hrudayalaya Ltd. (757.00, 0.21%) were trading with volumes 6.9 and 6.1 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 - Bank of Baroda (174.40, 1.42%), Bank of India (90.30, 4.63%) and Britannia Industries Ltd. (4,424.35, 0.48%).

12 stocks climbed above their 200 day SMA including Advanced Enzyme Technologies Ltd. (315.50, 2.72%) and Prince Pipes & Fittings Ltd. (632.10, 1.41%). 18 stocks slipped below their 200 SMA including Network 18 Media & Investments Ltd. (73.50, -3.23%) and LTIMindtree Ltd (4,815.55, -3.21%).

Trendlyne Marketwatch

05 Dec 2022

Market closes flat, L&T's construction business bags order worth Rs 2,500-5,000 crore.

Trendlyne Analysis

Indian indices recovered from their day’s low and closed flat on a volatile day of trade. European indices traded lower than Friday’s levels. However, most major Asian indices closed higher as China eased Covid-19 curbs over the weekend, reopening its economy partially. US stocks closed mixed on Friday after a strong US jobs report fueled expectations that the Federal Reserve would maintain its path of interest rate hikes to curb elevated inflation. The tech-focused NASDAQ 100 fell 0.4% while the S&P 500 closed flat on Friday. Brent crude oil futures traded higher after losing over 1% on Friday as traders assessed OPEC+ holding oil output targets and China easing Covid curbs.

Nifty Smallcap 100 closed in the green, despite the benchmark index closing flat. Nifty Media and Nifty Metal closed higher than Friday’s close. Nifty IT closed lower, taking cues from the tech-heavy NASDAQ 100, which closed in the red on Friday.

Nifty 50 closed at 18,701.05 (5.0, 0.0%) , BSE Sensex closed at 62,834.60 (-33.9, -0.1%) while the broader Nifty 500 closed at 15,967.20 (3.7, 0.0%)

Market breadth is in the green. Of the 1,972 stocks traded today, 1,135 were on the uptrend, and 770 went down.

Mahindra & Mahindra Financial Servicessees a long buildup in its December 29 future series as its open interest rises 16.2% with a put-call ratio of 0.79.
Tata Motors, Brightcom Group, Easy Trip Planners and Rail Vikas Nigam trade below their second support or S2.
Rajesh Jejurikar, Executive Director (Auto & Farm Sectors) of Mahindra & Mahindra, says a shortage of semiconductors led to the MoM fall in tractor sales in November. He expects its impact to persist in December. Jejurikar believes there could be supply disruptions in 2023 as well.
#OnCNBCTV18 | Expect tractor industry to grow at 5%. We could see supply disruptions in 2023 but not like the ones we saw in 2021. We will be launching an electric SUV, will be starting test drives of new electric SUVs by end of December, says @rajesh664 of @MahindraRise pic.twitter.com/XLSUaVv9Fn
— CNBC-TV18 (@CNBCTV18Live) December 5, 2022
Metal stocks like Hindalco Industries, Tata Steel, National Aluminium Co, Vedanta and JSW Steel are rising in trade. The broader sectoral index BSE Metal is also trading in the green.
Larsen & Toubro is rising as its buildings and factories construction business bags an order worth Rs 2,500-5,000 crore from the National High-Speed Rail Corp. The order is for the construction of Sabarmati depot in Gujarat for the Mumbai-Ahmedabad high speed rail. Scope of the project involves design, supply, construction & testing, and commissioning of the depot.
Kalyan Jewellers India rises to an all-time high of Rs 116.4 per share. The stock has a high rank of 70% in Trendlyne's checklist score. It also features in a screener with high return and technically strong value stocks.
HDFC Securities maintains its ‘Add’ rating on Bandhan Bank with a target price of Rs 273, indicating an upside of 11.9%. The brokerage believes the bank’s focus on tightening underwriting standards and portfolio diversification improves its growth prospects in the medium to long term. However, in the near term, it sees elevated provisions and high operating expenses impacting profitability. The brokerage expects the bank’s net interest income to grow at a CAGR of 14.2% over FY22-25. The stock is currently in the P/E Buy zone.
Rainbow Childrens Medicare is falling as 1.5 crore shares (15% equity) amounting to Rs 1,119 crore change hands, according to reports.
Rainbow Medicare Large Trade | 1.54 cr shares (15% equity) worth ?1,119 cr change hands at ?742/sh#BlockDeal pic.twitter.com/rwrjeqZTCs
— CNBC-TV18 (@CNBCTV18Live) December 5, 2022
Angel One is falling as its monthly gross client acquisition and average client funding book in November falls by 28.3% YoY and 16.6% YoY respectively. Meanwhile, its client base surges 66.5% YoY. Its average daily turnover (ADTO) increases 79.7% YoY but falls on a month-on-month basis due to a decline in the ADTO of F&O.
IT stocks like Persistent Systems, LTIMindtree, Mphasis and L&T Technology Services are falling in trade. The broader sectoral index Nifty IT is also trading in the red.
SpiceJet is rising as the company schedules its annual general meeting (AGM) on December 26. The meeting will seek approval of audited financial results of FY22, ended March 2022, and reappointment of Ajay Singh as a director.
India’s Services PMI rises to 56.4 in November compared to 55.1 in October as sales improve due to strong growth in demand and advertising.
#JustIn | #India S&P Global #November Services #PMI at 56.4 vs 55.1 MoM & Composite PMI at 56.7 vs 55.5 MoM pic.twitter.com/ArU1A1OXoK
— CNBC-TV18 (@CNBCTV18Live) December 5, 2022
Easy Trip Planners is falling despite Go First entering into an exclusive general sales agreement with the company. This agreement mandates Easy Trip Planners to officially sell, promote and market Go First’s passenger tickets and other services in Saudi Arabia.
Ion Exchange (India) rises as it bags a contract worth Rs 343.36 crore from Indian Oil Corp of India for its zero liquid discharge plant at the Panipat refinery. The scope of the contract is design, engineering, manufacturing, supply, testing, commissioning, operation and maintenance of the plant for five years.
Hindustan Aeronautics (HAL) is rising after receiving an income tax refund order of Rs 427.5 crore. The Income Tax Appellate Tribunal passed an order in favour of HAL, allowing research & development expenses of Rs 595.2 crore as capital expenditure, thus resulting in the refund. The income tax refund includes interest of Rs 176.9 crore.
Gujarat Fluorochemicals falls over 3% in early trade as 20.1 lakh shares (1.8% equity) amounting to Rs 670.7 crore change hands, according to reports.
Gujarat Fluoro Large Trade | 20.1 lakh shares (1.8% equity) worth ?670.7 cr change hands at an average of ?3,315/sh#BlockDeal pic.twitter.com/L9PvhixVFS
— CNBC-TV18 (@CNBCTV18Live) December 5, 2022
Rajesh Exports is falling as Managing Director Prashant Mehta retires. His resignation is effective from December 3.
Radhakishan Damani sells a 1.31% stake in VST Industries for approx Rs 71.1 crore on Friday.
Mahindra & Mahindra Financial Services’ disbursements grew 75% YoY to Rs 4,500 crore in November. Its stage 2 and stage 3 accounts (an account where assets’ credit quality reduces but are not classified into NPAs) see a fall QoQ. It shows up in a screener with decreasing provisions in its recent results.
Promoter group Nirmal Madhu Family Trust sells a 0.59% stake (5.2 lakh shares) in IIFL Wealth Management for Rs 94.5 crore in a bulk deal. Meanwhile, General Atlantic Singapore sells a 1.8% stake in Krishna Institute of Medical Sciences (KIMS) for Rs 214.6 crore. The shares (1.7% stake) were picked up by Amansa Holdings in KIMS.
Softbank’s SVF India Holdings (Cayman) sells a 5.08% stake (2.2 crore shares) in PB Fintech for Rs 1,042.5 crore in a bulk deal. The shares were picked up by Societe Generale and Morgan Stanley Mauritius.

Riding High:

Largecap and midcap gainers today include Mahindra & Mahindra Financial Services Ltd. (241.15, 5.31%), Aditya Birla Capital Ltd. (158.65, 4.58%) and Hindalco Industries Ltd. (481.20, 4.36%).

Downers:

Largecap and midcap losers today include Zomato Ltd. (65.45, -4.52%), Bharat Heavy Electricals Ltd. (87.65, -3.20%) and TVS Motor Company Ltd. (1,017.80, -2.92%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included JK Lakshmi Cement Ltd. (825.35, 10.26%), Advanced Enzyme Technologies Ltd. (307.15, 8.30%) and Swan Energy Ltd. (273.85, 7.41%).

Top high volume loser on BSE was Gujarat Fluorochemicals Ltd. (3,249.05, -5.80%).

Medplus Health Services Ltd. (703.50, 4.36%) was trading at 24.2 times of weekly average. Capri Global Capital Ltd. (757.00, 0.73%) and Laxmi Organic Industries Ltd. (318.75, 4.78%) were trading with volumes 15.4 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

26 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Apollo Tyres Ltd. (318.95, -0.08%), Bank of India (86.30, 2.07%) and Bharat Heavy Electricals Ltd. (87.65, -3.20%).

23 stocks climbed above their 200 day SMA including Advanced Enzyme Technologies Ltd. (307.15, 8.30%) and Sobha Ltd. (670.05, 5.16%). 13 stocks slipped below their 200 SMA including Zomato Ltd. (65.45, -4.52%) and IFB Industries Ltd. (927.70, -2.50%).

Trendlyne Marketwatch

02 Dec 2022

Market closes lower, Uniparts India’s IPO gets bids for 25.3X of total shares on offer

Trendlyne Analysis

Nifty 50 closes in red today. The rupee closed at 81.2 against the dollar on Thursday. The dollar was down to 16-week lows as US consumer spending increased in October.

Asian stocks trade lower as traders waited for the jobs report and Federal Reserves’ cues on its next policy moves. US market closed flat as data suggested that rate hikes are beginning to show results in the economy. S&P 500 fell 0.08% while Nasdaq gained 0.13% in trade on Thursday. Tokyo stocks closed lower on Friday. European stock markets dropped on opening today as attention switched to the release of key US jobs data.

Nifty Smallcap 100 and Nifty Midcap 100 close higher today. Nifty Power and Nifty Auto close in red while Nifty Media and Nifty Realty close in the green.

Nifty 50 closed at 18,696.10 (-116.4, -0.6%) , BSE Sensex closed at 62,868.50 (-415.7, -0.7%) while the broader Nifty 500 closed at 15,963.50 (-40.5, -0.3%)

Market breadth is in the green. Of the 1,943 stocks traded today, 1,126 were in the positive territory and 764 were negative.

Relative strength index (RSI) indicates that stocks like Power Finance Corp, Aditya Birla Capital, JK Cement and Britannia Industries are in the overbought zone.
Raymond surges to a new all-time high of Rs 1,630 per share. The stock has a high rank of 73.9% in Trendlyne's checklist score. It also features in a screener which reflects stocks which benefit from lower crude oil prices.
Amara Raja Batteries is rising after announcing the signing of an MoU with the government of Telangana to set up a lithium-ion battery Gigafactory in the state. The facility is expected to have a capacity of 16 Gigawatt hours (GWh) and a battery pack assembly unit of up to 5 GWh. The stock shows up in a screener for companies with increasing revenue sequentially for the past two quarters.
Maruti Suzuki Indiais falling as the company announces price hikes from January 2023 to reduce cost pressure driven by overall inflation and recent regulatory requirements.
United Breweries and Aditya Birla Capital hit their 52-week highs of Rs 1,757.5 and Rs 153.3 respectively. Both stocks rise for four consecutive sessions.
Uniparts India’s Rs 836.5 crore IPO gets bids for 25.3X of the available 1.01 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 4.6X of the available 50.6 lakh shares on offer.
ICICI Securities maintains its ‘Add’ rating on Westlife Foodworld with a target price of Rs 850, implying an upside of 18.2%. The brokerage remains positive about the firm’s prospects given its focus on product mix improvement, consumer experience and aggressive network expansion. The brokerage expects the company’s revenue to grow at a CAGR of 30.5% over FY22-24. The stock is trading in the P/E Buy zone.
Bajaj Hindusthan Sugar surges after announcing its repayment of overdues to all lenders. The company does not have any overdues in its account. The stock is trading above its R3 or third resistance.
Auto Tyres & Rubber Products, Internet Software & Services, and Broadcasting & Cable TV industries rise more than 7% in the past week.
Jindal Stainless, Greenpanel Industries and Rites outperform their respective industries in terms of return on capital employed (RoCE).
Media stocks like Zee Entertainment Enterprises, PVR, Network 18 Media & Investments and TV18 Broadcastare rising in trade. The broader sectoral index Nifty Media is also trading in the green.
One 97 Communications (Paytm) is rising on the back of healthy loan disbursement growth and the management’s optimistic commentary about profitability. It aims to generate positive free cash flow in the next 12-18 months and turn profitable on an operating level from next year. The stock passes 33.3% of the parameters on Trendlyne's checklist.
Krishna Institute of Medical Sciences is rising as 14.5 lakh shares (1.8% equity) amounting to Rs 215 crore change hands, according to reports.
Krishna Medical Large Trade | 14.5 lakh shares (1.8% equity) worth ?215 cr change hands at ?1,480/sh#BlockDeal pic.twitter.com/JASc5FhDvS
— CNBC-TV18 (@CNBCTV18Live) December 2, 2022
SJVN is rising as its wholly owned subsidiary, SJVN Green Energy, signs a memorandum of understanding (MoU) with Grid Corp Of Odisha. The MoU is for developing 1,000 MW hydroelectric projects and 2,000 MW solar power projects through a joint venture company. The projects will require an investment of Rs 20,000 crore.
Talbros Automotive Componentssurges as it receives multi-year orders worth Rs 420 crore from domestic and overseas customers across its business divisions, product segments and joint ventures.
GST revenue collections rose 11% YoY to Rs 1.46 lakh crore in November but fell by 4% against Rs 1.52 lakh crore in October.
GST collections stand at Rs 1.46 lakh crore in November, 11 per cent rise YoY. https://t.co/529cKSq5Ty pic.twitter.com/SsZGBxzLL6
— Economic Times (@EconomicTimes) December 1, 2022
NLC Indiainks a memorandum of understanding with Grid Corporation of Odisha for setting up ground-mounted/floating solar power projects, pumped hydro storage projects, green hydrogen projects and any other renewable projects.
NMDC is rising as the Centre invites Expression of Interest (EoI) to sell a 50.7% stake in the company as a part of its divestment plan. The Centre will also transfer management control in the company after the sale. The last date for submission of bids is January 27, 2023.
The Centre reduces the windfall tax on locally produced crude oil to Rs 4,900 per tonne from Rs 10,200 earlier. It cuts the export tax on diesel to Rs 8 (including Rs 1.5 as road infrastructure cess) from Rs 10.5 per litre. The export tax on petrol remains nil and Rs 5 per litre on aviation turbine fuel remains unchanged.
Centre has reduced the windfall tax on sale of domestic crude oil to ?4,900 per tonne from the current tax of ?10,200 crore.

(@riturajbaruah1 reports)https://t.co/VP8zYHwO6U
— Mint (@livemint) December 1, 2022
Godrej Properties acquires 18.6 acres in Kandivali, Mumbai, with a developable potential of nearly 3.7 million square feet and a revenue potential of Rs 7,000 crore. This project increases the cumulative expected booking value from projects added in FY23 to Rs 16,500 crore. The stock shows up in a screener for companies with high TTM EPS growth.
SoftBank Group plans to sell 2.2 crore shares (5% stake) in PB Fintech for $130 million through a block deal, according to reports. The floor is to be set at Rs 440 per share, a 5% discount on the stock’s latest closing price.
Plutus Wealth Management buys 90 lakh shares (0.56% stake) in Bandhan Bank for Rs 212.1 crore in a bulk deal. Himalaya Finance & Investment Co buys 5 lakh shares (2.46% stake) in Venus Pipes & Tubes for Rs 32.9 crore.

Riding High:

Largecap and midcap gainers today include One97 Communications Ltd. (536.95, 7.16%), Bharat Heavy Electricals Ltd. (90.55, 6.97%) and Astral Ltd. (2,018.35, 4.89%).

Downers:

Largecap and midcap losers today include Adani Transmission Ltd. (2,745.70, -3.12%), Eicher Motors Ltd. (3,331.85, -3.07%) and Adani Green Energy Ltd. (2,062.30, -2.42%).

Movers and Shakers

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

Top high volume gainers on BSE included Radico Khaitan Ltd. (1,134.15, 7.06%), HLE Glasscoat Ltd. (686.15, 6.90%) and Prince Pipes & Fittings Ltd. (597.90, 6.26%).

Top high volume losers on BSE were KPR Mill Ltd. (544.60, -1.07%) and Sun TV Network Ltd. (491.65, -0.61%).

MOIL Ltd. (168.35, 4.14%) was trading at 8.4 times of weekly average. Punjab & Sind Bank (23.25, 5.92%) and Amber Enterprises India Ltd. (2,011.75, 3.65%) were trading with volumes 6.8 and 5.2 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 - Bank of Baroda (171.20, -0.32%), Bank of India (84.55, 1.74%) and Bharat Heavy Electricals Ltd. (90.55, 6.97%).

29 stocks climbed above their 200 day SMA including Astral Ltd. (2,018.35, 4.89%) and MOIL Ltd. (168.35, 4.14%). 8 stocks slipped below their 200 SMA including Adani Transmission Ltd. (2,745.70, -3.12%) and Bajaj Auto Ltd. (3,659.35, -1.30%).

Trendlyne Marketwatch

01 Dec 2022

Market closes higher, BOB Caps assumes coverage on Mahindra & Mahindra with 'Buy' rating

Trendlyne Analysis

Nifty closed higher after SGX indicated a positive start to the session. India’s GDP growth slows down to 6.3% in Q2FY23 from 13.5% in Q1FY23 because of a fall in activity from the manufacturing sector. This offset the decline in growth from the services sector.

Asian stocks trade higher following the US markets after Powell indicated a slowdown in rate hikes from December 2022. S&P 500 rose 3.09% while Nasdaq gained 4.4% in trade on Wednesday. Tata Play pre-files DRHP with SEBI for proposed IPO.

Nifty Smallcap 100 and Nifty Midcap 100 close in the green. Nifty Media, Nifty Metal and Nifty IT close higher while Nifty FMCG and BSE Power close lower today.

Nifty 50closed at 18,812.50 (54.2, 0.3%), BSE Sensexclosed at 63,284.19 (184.5, 0.3%) while the broader Nifty 500closed at 16,003.95 (57.8, 0.4%)

Market breadth is in the green. Of the 1,943 stocks traded today, 1,137 showed gains, and 750 showed losses.

JSW Steel beats Tata Steel in YoY and QoQ revenue growth, one-year price change, dividend yield over a year and average annual RoE over three years. But it lags in PE ratio, average broker rating and Trendlyne’s Valuation score.
Maruti Suzuki’s total wholesales in November increase 14.3% YoY, led by a 20.7% YoY rise in domestic passenger vehicle (PV) sales. Healthy growth in sales of compact and utility vehicles drives PV sales. Mahindra & Mahindra’s (M&M) total PV wholesales for November surge 56% YoY on the back of robust growth in utility vehicle sales. M&M’s sales in the farm equipment segment rise 10% YoY, led by a 12% YoY growth in domestic sales.
Morgan Stanley expects the liberalisation of gas prices to benefit upstream producers. The brokerage says that this will help in improving the production and demand for gas.
#BrokerageRadar | @MorganStanley on Gas: See 10-12% potential upside in earnings; Prefer refiners, fuel retailers and upstream oil plays over city gas distributors#StockMarket #StocksToWatch pic.twitter.com/lzAdClTwWO
— ET NOW (@ETNOWlive) December 1, 2022
Coal India’s production rises 13% YoY to 60.7 MT in November and 17% YoY to 412.6 MT for the period of April-November 2022.
Polycab India is rising as it enters a strategic partnership with Redington for the Indian market. Redington will be the national distributor for the company's end-to-end passive networking solutions.
Uniparts India’s Rs 836.5 crore IPO gets bids for 2X of the available 1.01 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 2X of the available 50.6 lakh shares on offer.
Media stocks like Network 18 Media & Investments, TV18 Broadcast, Hathway Cable & Datacom, Inox Leisure and PVR are rising in trade. The broader sectoral index Nifty Media is also trading in the green.
Easy Trip Planners surges as it inks a definitive agreement to acquire a 75% stake in Nutana Aviation Capital IFSC. Nutana Aviation will handle renting and booking of charter aircraft.
BOB Capital Markets assumes coverage on Mahindra & Mahindra with a ‘Buy’ and a target price of Rs 1,496. This indicates an upside of 20%. The brokerage has a robust growth outlook for the company due to its strong order book, capacity expansion and new launches. It also expects margin pressures to reduce on the back of better raw material availability and moderating commodity prices. The brokerage estimates the firm’s revenue to grow at a CAGR of 21% over FY22-25.
Alembic Pharmaceuticals is rising as it gets approval from the US FDA for abbreviated new drug application (ANDA), diclofenac sodium topical solution. The drug is used for the treatment of osteoarthritis of the knee. ANDA was initially filed by Aleor Dermaceuticals which was then amalgamated with Alembic. According to IQVIA, the drug has an estimated market size of $512 million for 12 months ending September.
Rail Vikas Nigam is rising as 1.2 crore shares (0.6% equity) amounting to Rs 94.2 crore change hands, according to reports.
RVNL #LargeTrade | 121.27 lakh shares (0.6% equity) worth ?94.21 cr change hands at an average of ?77/sh pic.twitter.com/mtDA3iO1DT
— CNBC-TV18 (@CNBCTV18Live) December 1, 2022
Timken India rises as reports suggest that the company plans to invest Rs 600 crore over the next two years to expand and gain market share.
Shilpa Medicare is rising as the company's manufacturing facility in Telangana receives good manufacturing practice (GMP) approval from Health Canada. The approval will permit the company to market products in Canada and allow new application submissions to Health Canada.
India’s fiscal deficit rises to Rs 7.58 lakh crore for 7MFY23 (April to October). It stands at 45.6% of the Centre’s budget target of Rs 16.6 lakh crore.
India's fiscal deficit rose to Rs 7.58 trillion in the first seven months of FY23.#FiscalDeficit #IndianEconomy https://t.co/FisqG5jSn6
— Business Standard (@bsindia) November 30, 2022
IT stocks like L&T Technology Services, Mphasis, Persistent Systemsand LTIMindtreeare rising in trade. The broader sectoral index Nifty ITis also trading in the green.
Bajaj Auto is falling as its total monthly wholesales in November declined 19% YoY to 3,06,552 units due to 28% YoY dip in two-wheeler sales. This, in turn, led to total domestic sales reducing 4% YoY. Two-wheeler exports declined 28% YoY and commercial vehicle sales grew 9% YoY. The stock shows up in a screener for companies with declining net cash flow.
India’s Q2FY23 GDP growth slows down to 6.3% compared to 13.5% in Q1FY23. The fall is due to rising repo rates and a contraction in manufacturing output.
#BREAKING: India’s economic growth pace slowed to 6.3% for July to September quarter as Covid-19 disruptions faded, but RBI raised repo rates to tackle inflationary pressure and amid weakness in the manufacturing sector.#GDP https://t.co/bay1ae5FUy
— Economic Times (@EconomicTimes) November 30, 2022
Escorts Kubota is rising as its monthly tractor wholesales in November increased by 11.9% YoY to 7,960 units. The growth in tractor wholesales is due to a 13.4% YoY rise in domestic tractor wholesales. The company's monthly wholesales of construction equipment grew by 28.8% YoY. The company features in a screener of stocks nearing 52-week highs.
Ashish Kacholia buys a 2% stake in Likhitha Infrastructure for Rs 15.3 crore on Wednesday.
Alipay Singapore Holding sells a 3.15% stake (26.2 crore shares) in Zomato for Rs 1,631.4 crore in a bulk deal on Wednesday. Integrated Core Strategies sell stakes in Tube Investments, Varun Beverages, TVS Motor Co, Indian Hotels Co, Bajaj Holdings & Investment and ABB India for Rs 2,651.5 crore in total through various bulk deals.
KPI Green Energy’s board approves the issue of one bonus equity share for every existing share (1:1). The shares will be allotted by January 29, 2023. The company shows up in a screener of stocks with improving book value per share.

Riding High:

Largecap and midcap gainers today include L&T Technology Services Ltd. (4,159.75, 9.04%), MphasiS Ltd. (2,135.20, 5.85%) and Jindal Steel & Power Ltd. (564.50, 5.37%).

Downers:

Largecap and midcap losers today include Shriram Transport Finance Company Ltd. (1,286.85, -4.68%), Emami Ltd. (463.55, -3.17%) and General Insurance Corporation of India (144.55, -2.95%).

Movers and Shakers

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

Top high volume gainers on BSE included Chemplast Sanmar Ltd. (435.30, 12.09%), L&T Technology Services Ltd. (4,159.75, 9.04%) and Shilpa Medicare Ltd. (304.70, 8.26%).

Top high volume losers on BSE were Mahindra Logistics Ltd. (507.45, -3.82%), Computer Age Management Services Ltd. (2,276.25, -0.98%) and Blue Dart Express Ltd. (7,547.95, -0.74%).

Hatsun Agro Products Ltd. (959.25, 8.07%) was trading at 64.5 times of weekly average. Network 18 Media & Investments Ltd. (73.40, 7.86%) and Route Mobile Ltd. (1,353.85, 1.95%) were trading with volumes 10.7 and 7.0 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 its 52-week lows.

Stocks touching their year highs included - Apollo Tyres Ltd. (315.50, -0.30%), Bharat Heavy Electricals Ltd. (84.65, 1.14%) and Britannia Industries Ltd. (4,401.25, 0.89%).

Stock making new 52 weeks lows included - Medplus Health Services Ltd. (678.40, -1.00%).

25 stocks climbed above their 200 day SMA including L&T Technology Services Ltd. (4,159.75, 9.04%) and Network 18 Media & Investments Ltd. (73.40, 7.86%). 12 stocks slipped below their 200 SMA including Emami Ltd. (463.55, -3.17%) and Jubilant Pharmova Ltd. (381.40, -2.59%).

Trendlyne Marketwatch

30 Nov 2022

Market closes higher, Dharmaj Crop Guard’s IPO gets bids for 35.5X of total shares on offer

Trendlyne Analysis

Indian indices closed higher with the BSE Sensexcrossing 63,000 mark today after opening flat. FPI investors bought net shares worth Rs 1,242 crore according to the provisional data available. The rupee closed at 81.7 paring all intraday gains on Tuesday.

European markets open higher. Concerns over China’s protests over Covid policies continue. US markets closed lower on Tuesday awaiting Powell’s remarks on interest rates. Oil prices rose and US crude inventories continue to fall. Dollar heads for biggest monthly loss since 2010 ahead of Powell speech.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Metal, Energy, Realty and Auto closed higher while Nifty PSU Bank closed in red today.

Nifty 50closed at 18,758.35 (140.3, 0.8%), BSE Sensexclosed at 63,099.65 (417.8, 0.7%) while the broader Nifty 500closed at 15,946.15 (133.7, 0.9%)

Market breadth is in the green. Of the 1,933 stocks traded today, 1,162 showed gains, and 711 showed losses.

Relative strength index (RSI) indicates that stocks like Indian Railway Finance Corp, Aditya Birla Capital, Union Bank of India and Power Finance Corp are in the overbought zone.
PSU bank stocks like Canara Bank, Punjab & Sind Bank, Central Bank of India and UCO Bank are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in the red.
Laurus Labs touches its 52-week lowof Rs 405.2. However, the stock reverses its fall and rises by more than 1.5% in trade.
Among the Nifty 500 companies, Ultratech Cement, Nestle India and Tata Motors underperform their industry in the past quarter.
Dharmaj Crop Guard’s Rs 251.15 crore IPO gets bids for 35.5X the available 80.12 lakh shares on offer on the last day of bidding. The retail investor quota gets bids for 21.5X the available 39.9 lakh shares on offer.
Axis Direct maintains its ‘Buy’ rating on Shree Cements with a target price of Rs 25,900, indicating an upside of 11%. The brokerage expects the company to witness higher demand and better realisations amid lower commodity prices in H2FY23. It sees the firm’s expansion of production and focus on premium products as key positives. It expects the firm’s revenue to grow at a CAGR of 12% over FY22-25. The company is trading in the PE Neutral zone.
Macquarie maintains its ‘Underperform’ rating on Bajaj Finance with a target price of Rs 5,275. The brokerage says that the company’s loan growth will be affected due to weak cross-selling through franchises and digital footprint.
#BrokerageRadar | @Macquarie on Bajaj Finance: Maintain Underperform; Risk-reward is unfavourable at elevated valuations #StockMarket #StocksToWatch #BajajFinance pic.twitter.com/7OcFxNhEfu
— ET NOW (@ETNOWlive) November 30, 2022
Uniparts India’s Rs 836.5 crore IPO gets bids for 58% of the available 1.01 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 77% of the available 50.6 lakh shares on offer. The IPO is entirely an offer for sale of Rs 836.5 crore.
Realty stocks like Oberoi Realty, Prestige Estates Projects, DLFand Godrej Propertiesare rising in trade. The broader sectoral indices Nifty Realtyand BSE Realty Indexare also trading in the green.
Mazagon Dock Shipbuilders touches a 52-week high of Rs 914 and trades above R1 or first resistance. It lists in a screener with improving book value per share for the past two years. However, the company is not trading in the PE Buy Zone.
Nifty 50 touches another record high of 18,679.55 in trade today.
#MarketAtRecordHigh | #Nifty hits record high for 3rd straight session pic.twitter.com/B5tYxqYQw1
— CNBC-TV18 (@CNBCTV18Live) November 30, 2022
Ashoka Buildcon wins the bid for a construction project from the National Highway Authority of India for Rs 1,668.5 crore. The project is to construct a six-lane elevated corridor and also develop an existing four-lane road from Aroor to Thuravoor Thekku on NH66 in Kerala.
Ceat falls more than 3% in trade today. It shows up in a screener listing stocks with declining net cash flow. The company’s profit growth is lower than its industry median. Trendlyne’s consensus recommendation shows eight analysts suggesting a ‘Buy’.
Metal stocks like Jindal Steel & Power, Hindalco Industries, National Aluminiumand Steel Authority of Indiaare rising in trade. The broader sectoral index BSE Metalis also trading in the green.
NMDC raises iron ore prices by Rs 300 per tonne, according to reports. The new prices will be effective from today.
#NMDC hikes Iron Ore prices by ?300/tonne w.e.f today, reverses price cut of ?300/tonne taken earlier in November 2022, sources tell @Nigel__DSouza

Here's more pic.twitter.com/FDtlXLlhEM
— CNBC-TV18 (@CNBCTV18Live) November 30, 2022
Inox Wind and its subsidiary Inox Green Energy Services are rising as both companies initiate the process of deleveraging their balance sheets, reducing a combined debt of Rs 411 crore. Inox Wind pays Rs 161 crore towards reducing debt and Inox Green Energy Services cut its debt by Rs 250 crore.
New Delhi Television's founders Prannoy Roy and Radhika Roy resign from board of directors on Tuesday. Their resignation is effective from November 29.
Alibaba offloads 3.4% equity (27.36 crore shares) in Zomato in a block deal, according to reports.
Zomato #LargeTrade | 3.4% equity (27.36 cr shares) change hands at an average price of ?64/sh

Alert: Alibaba is a likely seller in Zomato #BlockDeal pic.twitter.com/neNWkEcFvt
— CNBC-TV18 (@CNBCTV18Live) November 30, 2022
Uniparts India raises Rs 250.6 crore from anchor investors ahead of its IPO, which opens up for subscription today. The company allotted 43.4 lakh equity shares at Rs 577 each to anchor investors. The investors include Nomura Trust, Aditya Birla Sun Life Trustee and Morgan Stanley.
BNP Paribas sells 18 lakh shares in Wipro in a block deal on Tuesday. Societe Generale also picks up the same amount of shares in Wipro for Rs 72.9 crore in another block deal.
Gland Pharma’s arm Gland Pharma International enters a put option agreement to acquire a 100% stake in Cenexi Group, a French pharmaceutical manufacturer. The company will acquire Cenexi Group for an equity value not exceeding 120 million euros (around Rs 1,013.6 crore). The firm expects to expand its contract development and manufacturing business in Europe through this acquisition.

Riding High:

Largecap and midcap gainers today include Varun Beverages Ltd. (1,249.75, 9.04%), Shriram Transport Finance Company Ltd. (1,350.00, 6.27%) and Adani Green Energy Ltd. (2,116.50, 5.19%).

Downers:

Largecap and midcap losers today include Indian Railway Finance Corporation Ltd. (32.80, -7.08%), Gland Pharma Ltd. (1,779.65, -5.23%) and Schaeffler India Ltd. (2,690.00, -5.05%).

Movers and Shakers

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

Top high volume gainers on BSE included Housing and Urban Development Corporation Ltd. (53.30, 9.33%), Varun Beverages Ltd. (1,249.75, 9.04%) and Esab India Ltd. (4,147.60, 8.76%).

Top high volume losers on BSE were Schaeffler India Ltd. (2,690.00, -5.05%), KEI Industries Ltd. (1,527.30, -3.88%) and Sheela Foam Ltd. (2,580.40, -3.81%).

Bajaj Holdings & Investment Ltd. (6,294.95, 4.50%) was trading at 22.4 times of weekly average. Indian Hotels Company Ltd. (321.65, 1.72%) and TVS Motor Company Ltd. (1,048.15, 0.80%) were trading with volumes 22.3 and 17.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks overperformed with 52-week highs, while 3 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Apollo Tyres Ltd. (316.45, 0.41%), Britannia Industries Ltd. (4,362.30, 1.80%) and CCL Products India Ltd. (546.10, 1.29%).

Stocks making new 52 weeks lows included - Sheela Foam Ltd. (2,580.40, -3.81%) and Laurus Labs Ltd. (417.45, 2.17%).

20 stocks climbed above their 200 day SMA including Adani Transmission Ltd. (2,908.50, 4.52%) and UTI Asset Management Company Ltd. (781.15, 4.38%). 11 stocks slipped below their 200 SMA including IFB Industries Ltd. (930.00, -3.02%) and MOIL Ltd. (161.00, -1.95%).

Trendlyne Marketwatch

29 Nov 2022

Market closes higher, Dharmaj Crop Guard’s IPO gets bids for 6X of shares

Trendlyne Analysis

Nifty closed in green after opening on a flat level today. Japan's Nikkei closed at a one-week low on Tuesday, as COVID-19 protests in several Chinese cities raised concerns about economic growth.

Markets trade higher in Hong Kong and China while Australian market trades flat. US markets closed 1.54% lower on Monday on concerns over economic growth as China continues to protest over Covid policies. Oil prices fell on concerns of slowing demand. The pan-European STOXX 600 index rose 0.3% led by healthcare and energy stocks.

Nifty Smallcap 100 and Nifty Midcap 100 closed in red despite the benchmark index trading in green. Nifty FMCG and Nifty Metal indices closed higher in today's trading session.

Nifty 50closed at 18,618.05 (55.3, 0.3%), BSE Sensexclosed at 62,681.84 (177.0, 0.3%) while the broader Nifty 500closed at 15,812.45 (28, 0.2%)

Market breadth is in the red. Of the 1,941 stocks traded today, 825 showed gains, and 1,038 showed losses.

Money Flow Index (MFI) indicates that stocks like Orient Electric, The Fertilisers and Chemicals Travancore, Ceat and IIFL Finance are in the overbought zone.
CCL Products Indiaand ICICI Bankhit their all-time highs of Rs 544.5 and Rs 949.9 respectively. Both stocks rise for two consecutive sessions.
Dharmaj Crop Guard’s Rs 251.15 crore IPO gets bids for 6X of the available 80.12 lakh shares on offer on the first day of bidding. The retail investor quota gets bids for 7.8X of the available 39.9 lakh shares on offer.
Personal Products, Tea & Coffeeand Special Consumer Servicesindustries riseby more than 2.5% in trade today.
Zydus Lifesciences is rising as it purchases Watson Pharma’s active pharmaceutical ingredients (API) business through a slump sale for a lump sum cash consideration of Rs 46.8 crore. The company expects this acquisition to help expand its presence in the API space.
S&P Global Ratings lowers its 2023 GDP growth forecast for emerging economies to 3.8% from the earlier 4.1%. The rating agency expects inflation to be above central banks’ targets for most economies, leading to tight monetary policy conditions.
S&P Global lowers 2023 growth forecast for emerging markets https://t.co/v2zGur8O7O
— TOI Business (@TOIBusiness) November 29, 2022
Britannia Industries rises as it announces a joint venture (JV) with Bel SA in France and Britannia Dairy Private (BDPL) to sell its 49% stake in Britannia Dairy to Bel for Rs 262 crore. BDPL will carry out the manufacturing, marketing and distribution of cheese products in India.
Sharekhan maintains its ‘Buy’ rating on Maruti Suzuki with a target price of Rs 10,965. This implies an upside of 21.5%. The brokerage believes that as economic activities normalise, the company will see a recovery in domestic demand and sales volume, given its better product mix and new product launches. It also sees the firm’s robust balance sheet, healthy order book and cost-control measures as key positives. The brokerage expects the firm’s net profit to grow at a CAGR of 45.8% over FY22-25.
FMCG stocks like Dabur India, Hindustan Unilever, Marico and Nestle Indiaare rising in trade. The broader sectoral index Nifty FMCG is also trading in the green.
Indian rupee appreciates to 81.6 against the US dollar in early trade today amid foreign capital inflows.
The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.38 per cent to 106.28 https://t.co/uHGVP40zyP
— Business Standard (@bsindia) November 29, 2022
Tata Motorsis rising as it signs a memorandum of understanding (MoU)with IndusInd Bankto develop an electric vehicle (EV) inventory programme for the company's dealers. The bank will provide additional inventory funding to authorised passenger EV dealers of Tata Motors, which can be repaid in 60 to 70 days. The bank will also provide additional funding during high-demand periods.
Vodafone Idea, Laurus Labsand One97 Communications (Paytm)score low on Trendlyne's durability, momentum and valuation scale.
Rail Vikas Nigam is falling as 1.7 crore shares (0.8% equity) amounting to Rs 144 crore change hands, according to reports.
RVNL Large Trade | 1.72 cr shares (0.8% equity) worth ?144 cr change hands at an average of ?80/sh#BlockDeal pic.twitter.com/TbImPSgICp
— CNBC-TV18 (@CNBCTV18Live) November 29, 2022
Lupin is rising as its Brazilian arm MedQuímica Indústria Farmacêutica inks a definitive agreement to acquire all rights to nine medicines from BL Indústria Ótica, an arm of Bausch Health Companies. MedQuímica will acquire rights to products including limbitrol, bacrocin, glyquin and solaquin.
Max Ventures Investment Holdings, promoter of Max Financial Services, sells a 1.6% stake in the company on Monday.
Ami Organics is rising as Norges Bank on account of the Government Pension Fund Global buys 10.9 lakh shares (3% stake) for Rs 100.5 crore in a bulk deal. Meanwhile, Small Cap World Fund sells 12.7 lakh shares (3.5% stake) for Rs 117 crore. Valuequest Investment Advisors also buys 1.8 lakh shares of Ami Organics for Rs 16.6 crore in a block deal.
One97 Communications (Paytm) is rising as CLSA upgrades its rating on the stock to ‘Buy’ from ‘Sell’ with a target price of Rs 650. The brokerage expects the company’s cash burn to end in the next 4-6 quarters, as it holds more than $1 billion cash in its balance sheet.
#BrokerageRadar | CLSA has upgraded @Paytm to 'Buy' from 'Sell'. The brokerage house believes that price correction in the stock makes it risk-reward favourable, @_anishaj brings us the rationale behind this #StockMarket #StocksToWatch pic.twitter.com/9tT9492dxX
— ET NOW (@ETNOWlive) November 29, 2022
Lumax Industries is rising as its board will meet on December 7 to consider and approve a proposal for setting up a new manufacturing facility in Chakan, Pune.
YES Bank acquires a 9.9% stake in JC Flowers Asset Reconstruction for a total consideration of Rs 14 crore. The bank will acquire an additional 10% stake after getting the required approvals.
Dovetail India Fund sells a 0.77% stake (18 lakh shares) in the recently listed Inox Green Energy for Rs 11.1 crore in a bulk deal on Monday.
NBCC (India) receives orders worth Rs 271.6 crore in two stalled projects of the erstwhile Amrapali Group. The orders pertain to completing the construction of Amrapali corporate hub in Gurugram, Haryana, for Rs 42.4 crore and special repairs and upgradation of Amrapali projects in Noida & Greater Noida, Uttar Pradesh, for Rs 229.2 crore.

Riding High:

Largecap and midcap gainers today include The New India Assurance Company Ltd. (115.00, 13.58%), Gland Pharma Ltd. (1,877.95, 7.61%) and Dabur India Ltd. (593.10, 6.18%).

Downers:

Largecap and midcap losers today include Laurus Labs Ltd. (408.60, -9.27%), Bajaj Holdings & Investment Ltd. (6,024.10, -5.80%) and Varun Beverages Ltd. (1,146.15, -3.14%).

Movers and Shakers

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

Top high volume gainers on BSE included The New India Assurance Company Ltd. (115.00, 13.58%), KIOCL Ltd. (216.95, 8.18%) and Gland Pharma Ltd. (1,877.95, 7.61%).

Top high volume losers on BSE were Laurus Labs Ltd. (408.60, -9.27%), La Opala RG Ltd. (381.45, -3.41%) and PNC Infratech Ltd. (268.00, -1.83%).

Prism Johnson Ltd. (129.60, 7.06%) was trading at 24.2 times of weekly average. Bombay Burmah Trading Corporation Ltd. (960.25, 5.04%) and Bayer Cropscience Ltd. (4,521.00, -0.36%) were trading with volumes 15.1 and 10.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Apollo Tyres Ltd. (315.15, 0.78%), Bank of India (83.75, 3.08%) and Britannia Industries Ltd. (4,285.35, 1.72%).

Stocks making new 52 weeks lows included - Laurus Labs Ltd. (408.60, -9.27%) and Amber Enterprises India Ltd. (1,934.25, -1.78%).

25 stocks climbed above their 200 day SMA including The New India Assurance Company Ltd. (115.00, 13.58%) and KIOCL Ltd. (216.95, 8.18%). 7 stocks slipped below their 200 SMA including Strides Pharma Science Ltd. (330.30, -2.15%) and eClerx Services Ltd. (1,426.30, -2.14%).

Trendlyne Marketwatch

28 Nov 2022

Market closes higher, Dharmaj Crop Guard’s IPO gets bids for 1.8X of total shares

Trendlyne Analysis

Indian indices closed higher with the Nifty 50 hitting record high of 18,614.25 intraday. In contrast, S&P cut India FY23 GDP growth forecast by 30 bps to 7% and FY24 by 50 bps to 6%. FPI buying remains strong especially in auto, IT and capital goods sector.

US markets closed flat on Friday. Crude oil falls in early Monday trading as protests plague China, which is one of the top importers of crude oil. Investors continue to remain cautious over the price cap on Russian oil and the upcoming OPEC+ meeting. European shares fell from three-month highs on Monday.

Nifty Smallcap 100 and Nifty Midcap 100 close in the green in line with the benchmark index. Nifty Energy, Nifty IT and Nifty Auto closed higher while Nifty Metal closed lower.

Nifty 50closed at 18,562.75 (50, 0.3%), BSE Sensexclosed at 62,504.80 (211.2, 0.3%) while the broader Nifty 500closed at 15,784.45 (57.2, 0.4%)

Market breadth is in the green. Of the 1,970 stocks traded today, 1,128 were in the positive territory and 768 were negative.

Relative strength index (RSI) indicates that stocks like Indian Railway Finance Corp, Power Finance Corp, Punjab National Bank and Bank of Indiaare in the overbought zone.
Paint stocks like Asian Paints, Berger Paints, Kansai Nerolac Paintsand Indigo Paintsrise as oil prices fall nearly 2.5% in trade today.
Dharmaj Crop Guard’s Rs 251.15 crore IPO gets bids for 1.8X of the available 80.12 lakh shares on offer on the first day of bidding. The retail investor quota gets bids for 2.6X the available 39.9 lakh shares on offer. The IPO consists of a fresh issue of Rs 216 crore and an offer for sale of Rs 35.15 crore.
Energy stocks like Hindustan Petroleum Corp, Chennai Petroleum Corp, Savita Oil Technologies and Indraprastha Gas are rising in trade. The broader sectoral index S&P BSE Energy is also trading in the green.
Macquarie initiates coverage on Container Corp of India with an ‘Underweight’ rating and a target price of Rs 620. The brokerage says that the delay in the completion of the freight corridor to Jawaharlal Nehru Port, Mumbai, will impact the company’s volume growth.
#StocksInNews | Macquaire has initiated coverage on Container Corp with an underperform rating, @vinnii_motiwala is here to give us more details on the brokerage note @Macquarie #StockMarket #StocksToWatch pic.twitter.com/6ostxvumxT
— ET NOW (@ETNOWlive) November 28, 2022
Zydus Lifesciences is rising as its US subsidiary receives tentative approval from the US FDA to market levothyroxine sodium injection. The injection is for the treatment of myxedema coma. According to IQVIA, the injection had annual sales of $45.2 million for the year ending September 2022.
Oracle Financial Services Software, Tanla Platforms and Century Plyboards (India) trade above their third resistance or R3 level as the market trades higher.
Nifty 50 and BSE Sensex hit record highs of 18,614.25 and 62,701.4 respectively.
#MarketsWithMC | Market LIVE Updates: Nifty above 18,600, Sensex gains 350 pts; RIL, HDFC Bank, IRFC most active#Nifty #Sensex #Markets #Stocks #StockMarket pic.twitter.com/jFTW4Vwl0K
— Moneycontrol (@moneycontrolcom) November 28, 2022
Lemon Tree Hotels is rising as it signs a deal for a 42-room hotel in Jamshedpur. Its wholly owned subsidiary and management arm, Carnation Hotels, will manage the property. The hotel is expected to be fully operational by September 2023.
HDFC Securities maintains its ‘Buy’ rating on Axis Bank with a target price of Rs 1,195. This indicates an upside of 35.9%. The brokerage believes the bank’s focus on expanding its exposure to medium and small corporate, rural & semi-urban and unsecured retail segments will drive growth in the coming quarters. It also sees the bank’s strong digital capabilities and extensive branch network as key positives. It expects the company’s net profit to grow at a CAGR of 20.4% over FY22-25.
S&P Global Ratings lowers India’s GDP growth forecast for FY23 to 7% from its earlier estimate of 7.3%. The rating agency in its Asia Pacific Economic Outlook said central banks will face pressure due to high global interest rates.
#JustIn | S&P cuts India FY23 GDP growth forecast by 30 bps to 7% & FY24 by 50 bps to 6% pic.twitter.com/chcXKRTwTW
— CNBC-TV18 (@CNBCTV18Live) November 28, 2022
Oil and gas stocks like Hindustan Petroleum Corp, Bharat Petroleum Corp, Reliance Industries and Indian Oil Corp are rising in trade. The broader sectoral index BSE Oil & Gas is also trading in the green.
Shriram Properties rises as its wholly owned subsidiary Shriprop Builders buys Suvilas Realities, a real estate company based in Bangalore, for Rs 30 crore. The company shows up in a screener of stocks with improving RoCE in the past two years.
Inox Wind Energy's and Inox Wind's Whole-Time Director Vineet Valentine Davis resigns on Friday. He also gives up the post of Non-Executive and Non-Independent Director of Inox Green Energy Services.
Max Financial Services is rising as it receives approval from the Insurance Regulatory and Development Authority of India (IRDAI) to buy the balance 5.2% stake in Max Life Insurance held by Mitsui Sumitomo. The company will buy 9.9 crore shares for nearly Rs 842 crore. Max Financial Services will hold an 87% stake in Max Life Insurance after the buyout.
Indian Energy Exchange is set to buyback 49 lakh shares, which represents a 0.55% stake, for Rs 98 crore through the open market. The buyback price is at Rs 200 per share. The stock shows up in a screener for companies with improving cash flow from operations over the past two years.
Indian rupee falls to 81.79 against the US dollar in early trade today. This comes after protests over Covid restrictions in China led to a fall in Asian currencies and strengthened the dollar.
Rupee Falls 10 Paise To 81.79 Per Dollar On Yuan-Led Losses https://t.co/QF43JDSxGF pic.twitter.com/6Ofvn60kvm
— NDTV Profit (@NDTVProfit) November 28, 2022
Hero MotoCorp rises as the company raises its ex-showroom prices from December 1, 2022, according to reports. The price hike will vary with models and the market.
Dharmaj Crop Guard raises Rs 75 crore from anchor investors ahead of its IPO, which opens up for subscription today. The company allotted 31.6 lakh equity shares at Rs 267 each to anchor investors. The investors include Elara India Opportunities Fund, Rajasthan Global Securities and Resonance Opportunities Fund.
One97 Communications (Paytm) receives a letter from the Reserve Bank of India to reapply for the online payment aggregator license for its wholly owned subsidiary Paytm Payment Services (PPSL). Meanwhile, PPSL is not allowed to onboard any new customers. PPSL must also seek necessary approvals for any past downward investment from Paytm to PPSL to comply with the FDI guidelines.
HFCL bags order worth Rs 1,770 crore from the water & sanitation department for engineering, procurement and construction services in Uttar Pradesh. The contract value for the supply of materials and services is Rs 1,414 crore and operation and maintenance services are Rs 356 crore. The project will be executed within 18 months from the contract signing.

Riding High:

Largecap and midcap gainers today include Tube Investments of India Ltd. (2,746.95, 6.13%), Hindustan Petroleum Corporation Ltd. (238.50, 5.51%) and Indian Railway Finance Corporation Ltd. (33.55, 5.50%).

Downers:

Largecap and midcap losers today include Macrotech Developers Ltd. (999.55, -2.96%), Jindal Steel & Power Ltd. (507.20, -2.61%) and Honeywell Automation India Ltd. (41,310.00, -2.56%).

Movers and Shakers

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

Top high volume gainers on BSE included Tanla Platforms Ltd. (818.40, 10.97%), MMTC Ltd. (41.80, 9.28%) and Apollo Tyres Ltd. (312.70, 6.65%).

Top high volume losers on BSE were Shriram Transport Finance Company Ltd. (1,264.75, -1.20%), Linde India Ltd. (3,034.50, -0.25%) and Bayer Cropscience Ltd. (4,530.05, -0.25%).

Mishra Dhatu Nigam Ltd. (251.15, 5.90%) was trading at 4.6 times of weekly average. Sonata Software Ltd. (585.30, 5.85%) and EPL Ltd. (165.35, 2.16%) were trading with volumes 4.6 and 4.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

25 stocks made 52-week highs, while 1 stock was an underachiever and hit its 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (332.05, -1.23%), Apollo Tyres Ltd. (312.70, 6.65%) and Bharat Heavy Electricals Ltd. (81.40, -0.67%).

Stock making new 52 weeks lows included - SIS Ltd. (389.40, 0.04%).

28 stocks climbed above their 200 day SMA including MMTC Ltd. (41.80, 9.28%) and Sonata Software Ltd. (585.30, 5.85%). 3 stocks slipped below their 200 SMA including Havells India Ltd. (1,221.55, -2.00%) and Vedanta Ltd. (310.55, -1.90%).

Trendlyne Marketwatch

25 Nov 2022, 03:45PM

Market closes marginally higher, Adani Enterprises to raise Rs 20,000 crore

Trendlyne Analysis

Nifty 50 closed marginally higher after dipping into losses and gains throughout the day. European stocks traded mixed as investors digested the latest German quarterly GDP data, which grew 0.4% QoQ. Major Asian indices closed mixed as investors assessed rising Covid cases in China and its impact on global economy. Tokyo’s core consumer price index rose 3.6% in November, its highest annual pace since 1980. US markets were closed on Thursday on account of Thanksgiving day. Crude oil is set for its third consecutive weekly loss as traders assess price capping on Russian oil by G7 countries and rising Covid cases in China.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, despite the benchmark index closing marginally higher. Nifty Media and Nifty Auto closed higher than Thursday’s close. Nifty IT closed in the green after rising over 2.6% higher on Thursday.

Nifty 50closed at 18,512.75 (28.7, 0.2%), BSE Sensexclosed at 62,293.64 (21.0, 0.0%) while the broader Nifty 500closed at 15,727.25 (46.5, 0.3%)

Market breadth is in the green. Of the 1,938 stocks traded today, 1,182 were on the uptick, and 697 were down.

The Government of India is looking to sell a 5-10% stake in Coal India, Hindustan Zinc and Rashtriya Chemicals & Fertilizers, according to reports. The proceeds from these stake sales are expected to fund the Centre’s subsidy bill.
Adani Enterprises' board of directors approves the raising of funds by way of further public offering through a fresh issue of equity shares aggregating up to Rs 20,000 crore, subject to shareholders' approval.
Money Flow Index (MFI) indicates that stocks like NBCC (India), The Fertilisers and Chemicals Travancore, Indoco Remedies and Rashtriya Chemicals & Fertilizersare in the overbought zone.
High-return durable stocks like HCL Technologies, Hindustan Aeronauticsand Kalyan Jewellersgain more than 18% in the past 90 days.
ICICI Securities maintains 'Add' rating on Brookfield India REIT with a target price of Rs 318. This indicates a potential upside of 9.6%. The brokerage believes that the company's sponsor right of first offer (RoFO) of 6.4 marginal standing facility (MSF) across Gurugram in NCR and Powai in Mumbai may drive inorganic growth. It expects the company's net profit to grow at a CAGR of 21.8% over FY22-25.
Larsen & Toubroand Hindustan Aeronauticshit all-time highsof Rs 2,095.8 and Rs 2,774.95 respectively. Both stocks rise for two consecutive sessions.
Hariom Pipe Industries touches a 52-week high of Rs 319.9 as it finishes instalment of a 15-tonne electric melting furnace and begins commercial production today. This will increase the plant’s production to 1.04 lakh MTPA from 95,832 MTPA. It shows up in a screener listing stocks with improving RoCE for the past two years.
Nomura is cautious of the share-price rally and downgrades its rating on Siemens to ‘Neutral’ with a target price of Rs 3,008. The brokerage expects order inflow to reduce.
#BrokerageRadar | @Nomura on @Siemens: Downgrade to Neutral from Buy; Turn cautious after strong share-price rally#StockMarket #StocksToWatch pic.twitter.com/f0Tz7gW2f8
— ET NOW (@ETNOWlive) November 25, 2022
Media stocks like Network 18 Media & Investments, TV18 Broadcast, Dish TV India, PVR and Inox Leisure are rising in trade. The broader sectoral index Nifty Media is also trading in the green.
Investment Advisor Sandip Sabharwal is bullish on tyre stocks as global rubber prices ease. He says that tyre companies will benefit from a fall in crude oil prices and a correction in rubber prices. Tyre stocks like Balkrishna Industries, MRF, Apollo Tyres and Ceat are rising in trade today.
Global Rubber prices have corrected nearly 25% over the last few months
Crude derivatives like Nylon Tyre Cord, Carbon Black are also correcting now as crude falls and demand moderates

Tyre companies will be big beneficiaries with significant margin improvement possibilities
— sandip sabharwal (@sandipsabharwal) November 25, 2022
AstraZeneca Pharma, Fine Organic Industries and Great Eastern Shipping Co report an increase in net profit by more than 2.5X YoY in Q2FY23.
Castrol India inks an agreement with Ki Mobility Solutions for acquiring of 7.1% stake for Rs 487.5 crore. Both companies will explore business and technology collaborations under this partnership.
Chennai Petroleum Corp and Indian Oil Corp are rising as they sign a joint venture (JV) agreement with seed investors for a refinery and petrochemicals project. The refineries will set up a nine million metric tonne facility in Tamil Nadu. Chennai Petroleum and Indian Oil will hold 25% of equity each in the JV, while the remaining 50% will be held by seed investors.
Keynote Capitals initiates coverage on Can Fin Homes with a ‘Buy’ rating and a target price of Rs 670. This indicates an upside of 27.4%. The brokerage has a healthy business outlook for the company given its robust asset quality, healthy growth in loan disbursements and effective risk management. It expects the firm’s loan book to grow 18-20% in the coming quarters and net profit at a CAGR of 17.6% over FY22-24.
Saurabh Gupta, Group CFO of Dixon Technologies, expects the company’s revenue to be around Rs 14,000-15,000 crore in FY23. He also expects 35% of revenue to come in from exports.
#OnCNBCTV18 | Festive sales were good, and business is back to normal. Expect revenue in the range of ?14,000-15,000 cr in FY23, EBITDA margin expected between 3.8-4%, says Saurabh Gupta of Dixon Tech pic.twitter.com/TDb6aJdu9k
— CNBC-TV18 (@CNBCTV18Live) November 25, 2022
Biocon is rising after its wholly owned subsidiary Biocon Biologics allots shares worth Rs 2,205.6 crore to the company. This takes the holding of Biocon in Biocon Biologics to 88.8% post the allotment of shares.
Stocks like Punjab National Bank, Suzlon Energy and IDBI Bank trade above their second resistance or R2 level as the market trades flat.
Tata Steel Long Products acquires an additional 4.69 crore shares of its subsidiary Neelachal Ispat Nigam for Rs 300 crore. The stock shows up on a screener for companies with improving cash flow from operations over the past two years.
PSU bank stocks like Punjab National Bank, UCO Bank, Punjab & Sind Bank and Indian Overseas Bank are rising in trade. The broader sectoral index Nifty PSU Bank is also trading in the green.
BofA maintains its ‘Buy’ rating on PVR with a target price of Rs 2,405. The brokerage says that Q3FY23 will be a strong quarter as the pipeline of movie releases is favourable.
#BrokerageRadar | BofA on @_PVRCinemas: Maintain Buy; Expect the momentum to continue to next months as well#StockMarket #StocksToWatch @BofA_Business pic.twitter.com/JZGiy9YiDi
— ET NOW (@ETNOWlive) November 25, 2022
Lupin is falling after the US FDA issued Form 483 with eight observations each for the drug product and API facility. The inspection was conducted at Lupin’s Mandideep facility in Madhya Pradesh.
Punjab National Bank is rising as it receives government nod to divest its entire stake in UTI Asset Management Co. The bank holds a 15.2% stake in UTI Asset Management. It is yet to receive approval from the Securities and Exchange Board of India.
WF Asian Smaller Companies Fund buys 1.6 crore shares (2.05% stake) in PB Fintech for Rs 271 crore in a bulk deal. Meanwhile, Capri Global Holdings buys 6.06 lakh shares (0.73% stake) in Fino Payments Bank for Rs 15.6 crore in another bulk deal.

Riding High:

Largecap and midcap gainers today include Bharat Heavy Electricals Ltd. (81.95, 9.56%), Tata Motors Limited (DVR) (234.70, 9.14%) and PB Fintech Ltd. (460.55, 6.61%).

Downers:

Largecap and midcap losers today include Union Bank of India (76.50, -2.67%), Shriram Transport Finance Company Ltd. (1,280.15, -2.41%) and Bajaj Holdings & Investment Ltd. (6,371.80, -2.29%).

Volume Rockets

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

Top high volume gainers on BSE included Indiabulls Housing Finance Ltd. (138.15, 11.64%), Bharat Heavy Electricals Ltd. (81.95, 9.56%) and Tata Motors Limited (DVR) (234.70, 9.14%).

Top high volume losers on BSE were ICICI Prudential Life Insurance Company Ltd. (452.10, -2.14%), Heidelberg Cement India Ltd. (195.50, -1.16%) and Sapphire Foods India Ltd. (1,330.00, -0.57%).

Sanofi India Ltd. (5,689.50, 3.47%) was trading at 9.9 times of weekly average. EPL Ltd. (161.85, 5.03%) and JM Financial Ltd. (73.45, 3.31%) were trading with volumes 9.5 and 8.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

22 stocks overperformed with 52-week highs, while 2 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (336.20, 1.83%), Bank of Baroda (167.85, -1.50%) and Bank of India (81.80, 0.62%).

Stocks making new 52 weeks lows included - Motilal Oswal Financial Services Ltd. (655.00, -0.68%) and Quess Corp Ltd. (422.85, -0.18%).

24 stocks climbed above their 200 day SMA including Indiabulls Housing Finance Ltd. (138.15, 11.64%) and Gujarat State Petronet Ltd. (278.80, 7.05%). 7 stocks slipped below their 200 SMA including Adani Transmission Ltd. (2,739.60, -1.84%) and Aptus Value Housing Finance India Ltd. (313.30, -0.52%).

Trendlyne Marketwatch

24 Nov 2022

Market closes higher, Capri Global Holdings buys 1.59% stake in Fino Payments Bank

Trendlyne Analysis

Indian indices rose sharply during the final hour of the trading session and closed in the green. BSE Sensex touched its life-time high and closed 1.2% higher. European stocks followed the global trend and traded higher than Wednesday's close. Major Asian indices closed in the green, in line with the US indices, which closed higher on Wednesday.

US stocks rose as the US Federal Open Market Committee (FOMC) Meeting Minutes showed that interest rate hikes may slow down going forward. The S&P 500 index closed 0.6% higher and touched a two-month high while the tech-heavy NASDAQ 100 index rose 1%. Brent crude oil futures traded marginally higher after falling over 4% on Wednesday as rising Covid cases in China hurt crude oil demand.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty FMCG and Nifty Bank closed higher than Wednesday’s close. Nifty IT closed in the green, taking cues from the tech-heavy NASDAQ 100, which closed nearly 1% higher on Thursday.

Nifty 50closed at 18,484.10 (216.9, 1.2%), BSE Sensexclosed at 62,272.68 (762.1, 1.2%) while the broader Nifty 500closed at 15,680.80 (142.7, 0.9%)

Market breadth is in the green. Of the 1,938 stocks traded today, 1,061 were on the uptrend, and 811 went down.

Relative strength index (RSI) indicates that stocks like Indian Railway Finance Corp, Union Bank of India, NBCC (India) and IIFL Financeare in the overbought zone.
Easy Trip Planners rises in trade after it announces a board meeting on December 1 to consider a proposal on acquisition. The stock shows up in a screener with improving RoA for the past two years.
KPI Green Energyis rising as its shareholders will consider the issuance of bonus shares at its board meeting on Wednesday. The company shows up in a screenerlisting stocks with improving book value per share for the past two years.
IOL Chemicals and Pharmaceuticals rises as the Centre grants it a patent for developing a safe process to prepare drugs used to treat high blood pressure and heart failure. It shows up in a screener for companies with improving book value per share for the past two years.
Aurobindo Pharma and Quess Corp hit their 52-week lows of Rs 456.6 and Rs 423.3 respectively. Aurobindo Pharma falls for seven consecutive sessions, while Quess Corp trades lower for two sessions.
Fino Payments Bank is rising after Capri Global Holdings buys a 1.59% stake (13.2 lakh shares) worth Rs 30.2 crore in a bulk deal. The company shows up on a screener with stocks rising more than 20% in the past month.
Indian Oil Corp and Chennai Petroleum Corp rise as ICICI Bank plans to invest in the seed equity capital of the proposed joint venture (JV) of the oil corporations. ICICI Bank will hold a 10% stake in the JV. As a seed equity investor, the bank does not have any obligation to fund the future equity requirements of the project.
PB Fintech (Policybazaar) is surging in trade as 73.4 lakh shares (1.6% equity) amounting to Rs 295 crore change hands, according to reports.

PB Fintech Large Trade | 73.4 lk shares (1.6% equity) worth ?295 cr change hands at ?401/sh pic.twitter.com/I1tpRnB5Fh
— CNBC-TV18 (@CNBCTV18Live) November 24, 2022

Brokerage firm Ambit recommends a ‘Buy’ rating on Zomato with a target price of Rs 94, indicating an upside of 50%, according to reports. It is optimistic about the company’s growth as Zomato's market share in the food delivery space rose to 55% in H1CY22. The company’s gross merchandise value in food ordering in H1CY22 stands at 56%, beating Swiggy’s 40%. The brokerage expects the entire enterprise (including Blinkit) to turn profitable by FY27.
Larsen & Toubro's heavy civil infrastructure business wins an order worth Rs 1,000-2,500 crore from the Greenko Group for the development of an off-stream pumped storage project in Madhya Pradesh.
Neeraj Kanwar, Managing Director of Apollo Tyres, says that the company’s volumes rose 9%. He adds that it aims to expand India business margins to 12% as raw material prices ease and new products are introduced in the market.
#OnCNBCTV18 | Will look to expand #India business margin to 12%. Expect good #growth in #H2FY23. Can expand #margin further due to lower raw material & more value added products, says @iamneerajkanwar of Apollo Tyres pic.twitter.com/ivYtfHwTyC
— CNBC-TV18 (@CNBCTV18Live) November 24, 2022
IT consulting & software companies like Persistent Systems, HCL Technologies, Larsen & Toubro Infotech, Infosys and Tech Mahindra are rising in trade. All the constituents of the broader Nifty IT index are trading in the green.
Cipla is falling as the US FDA issues an Official Action Indicated (OAI) status to its manufacturing facility in Goa. The OAI status generally means that the regulatory found objectionable conditions during inspections. The US FDA will hold further product approvals for the Goa facility until the observations are resolved.
Delhivery is rising as 32.1 lakh shares (0.44% equity) amounting to Rs 104.8 crore change hands, according to reports.
Delhivery large trade | 32.1 lakh shares (0.44% equity) worth ?104.8 cr change hands at an avg ?327/sh pic.twitter.com/QsiI2Mv52u
— CNBC-TV18 (@CNBCTV18Live) November 24, 2022
ICICI Securities maintains its ‘Buy’ rating on Balkrishna Industries with a target price of Rs 2,479. This implies an upside of 26.5%. The brokerage is positive about the company’s prospects given its lower input costs compared to its peers and its focus on exports. It expects the company’s revenue to grow at a CAGR of 16% over FY22-24.
Healthcare stocks like Global Health, Apollo Hospitals Enterprise, and Aster DM Healthcare are rising in trade. The broader Healthcare Facilities industry improves by more than 2%.
Sugar stocks like Shree Renuka Sugars, EID (Parry) India, Balrampur Chini Mills and Triveni Engineering & Industries are rising in trade. The Indian Sugar Mills Association suggests that the companies will be allowed to export an additional 2-4 million tonnes this season, according to reports. The broader sugar industry is also up by more than 2% in trade.
#CNBCTV18Market | Sugar stocks in focus
ISMA says India may allow a further 2-4 million tonnes of sugar exports this season pic.twitter.com/vLQoJHgsYE
— CNBC-TV18 (@CNBCTV18Live) November 24, 2022
Tata Consumer Products is rising as the company plans to buy Bisleri International for Rs 7,000 crore, according to reports. The company features in a screener of stocks with improving return on capital employed (RoCE) for the past two years.
Keystone Realtors’ shares list at a 2.6% premium to the issue price of Rs 541 on its debut on the bourses. The Rs 635 crore IPO was subscribed for 2X the total shares on offer.
Glenmark Pharma is falling after the US FDA issued a warning letter to its Goa manufacturing facility. The unit was given an official action indicated (OAI) status after an inspection in May 2022.
Polus Global Fund sells a 2.3% stake (53.8 lakh shares) in the recently listed IPO, Inox Green Energy, for Rs 32.9 crore in a bulk deal. Meanwhile, Pilot Consultants picks up a 2.45% stake (57.6 lakh shares) in the company for Rs 34.9 crore in another bulk deal.

Riding High:

Largecap and midcap gainers today include PB Fintech Ltd. (432.00, 7.89%), Indian Railway Finance Corporation Ltd. (30.90, 5.64%) and Apollo Hospitals Enterprise Ltd. (4,815.05, 4.56%).

Downers:

Largecap and midcap losers today include Indian Overseas Bank (22.05, -4.55%), One97 Communications Ltd. (441.10, -2.50%) and Vodafone Idea Ltd. (8.05, -2.42%).

Volume Rockets

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

Top high volume gainers on BSE included SJVN Ltd. (38.90, 7.31%), Indoco Remedies Ltd. (415.35, 7.19%) and Avanti Feeds Ltd. (391.55, 7.17%).

Top high volume losers on BSE were Happiest Minds Technologies Ltd. (941.00, -2.13%), Alembic Pharmaceuticals Ltd. (599.75, -1.73%) and Gillette India Ltd. (5,001.10, -1.46%).

Cera Sanitaryware Ltd. (5,506.25, 2.96%) was trading at 24.4 times of weekly average. Welspun India Ltd. (80.35, 4.96%) and Mangalore Refinery And Petrochemicals Ltd. (56.05, 6.05%) were trading with volumes 12.4 and 11.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

20 stocks took off, crossing 52-week highs, while 9 stocks hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (330.15, 0.15%), Bank of Baroda (170.40, 0.92%) and Bank of India (81.30, 2.46%).

Stocks making new 52 weeks lows included - Aurobindo Pharma Ltd. (456.30, -0.73%) and Avanti Feeds Ltd. (391.55, 7.17%).

18 stocks climbed above their 200 day SMA including Gujarat State Petronet Ltd. (260.45, 9.50%) and HDFC Life Insurance Company Ltd. (572.55, 4.55%). 6 stocks slipped below their 200 SMA including Adani Transmission Ltd. (2,790.85, -2.31%) and Aarti Drugs Ltd. (442.30, -2.25%).