Trendlyne Analysis
Indian indices recovered from the day’s low but closed lower on a volatile day of trade. Asian indices closed in the red, tracking the US indices which closed sharply lower on Friday. The tech-focused NASDAQ 100 fell over 4.4% led by Amazon which lost 14% on Friday post its Q4FY22 results announcement. Market volatility is expected to continue on the back of growth fears in China, looming rate hikes by the US Federal Reserve, and the geopolitical crisis in Europe. The US Fed is expected to raise its federal funds rate by half a percentage point on Wednesday this week. Crude oil falls amid concerns about slowing economic growth in China, the world’s top oil importer. India’s manufacturing Purchasing Managers’ Index (PMI) rises to 54.7 for April, up from 54.0 in March despite inflationary pressures. The pan-European STOXX 600 follows the global trend and trades lower as mixed earnings and geopolitical crisis keep investors on edge.
Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Media closed higher while Nifty Auto closed in the red. Nifty IT closed in the red, taking cues from the NASDAQ 100, which fell over 4.4% on Friday.
Nifty 50closed at 17,069.10 (-33.5, -0.2%), BSE Sensexclosed at 56,975.99 (-84.9, -0.2%) while the broader Nifty 500closed at 14,736.30 (-47.1, -0.3%)
Market breadth is highly negative. Of the 1,898 stocks traded today, 576 were gainers and 1,275 were losers.
Sundaram Finance, Eris Lifesciences, Aditya Birla Sun Life AMC, and Petronet LNG are trading with higher volumes as compared to Friday.
Welspun Corp wins order worth Rs 706 crore from Indian Oil Corporation (IOCL). The order is majorly for the construction of a large section of the Mundra Panipat Crude Oil Pipeline (P-25) project to increase the crude oil intake of IOCL’s Panipat refinery expansion project.
Inox Leisure’s Q4FY22 loss reduces to Rs 28.1 crore from Rs 93.7 crore a year ago and revenue rises 173.3% YoY to Rs 325.4 crore on the back of the easing of Covid-19 restrictions. Footfalls rise more than 3X YoY to 1.1 crore and occupancy rates rise by 14 percentage points YoY to 24%.
Housing Development Finance Corp's Q4FY22 profit rises 21.6% YoY to Rs 6,892.16 crore despite a 1.9% YoY fall in revenue to Rs 35,046.58 crore. The company's net interest income rises 14% YoY to Rs 4,601 crore. In FY22, profit rises 17.4% to Rs 24,042.13 crore. The board of directors recommends a dividend of Rs 30 per share for FY22.
IDBI Bank's Q4FY22 profit rises 16.8% YoY to Rs 734.7 crore despite a 20.8% YoY fall in revenue to Rs 5,532.9 crore. The company's expenditure reduces 3.6% YoY to Rs 3,969.6 crore. In FY22, the profit rise 79% YoY to Rs 2,439.
Eicher Motors' arm Royal Enfield’s April 2022 total wholesale numbers rise 17% YoY to 62,155 units and exports rise 84% YoY to 8,303 units. VE Commercial Vehicles' total wholesales, the company’s joint venture with Volvo rises 157.6% YoY to 5,525 units. Domestic wholesales rise 206.5% YoY to 4,766 units and export wholesales rise 20.1% to 650 units.
TVS Motor Company’s total wholesales grew 24% YoY to 2.9 lakh units with two-wheeler wholesales rising 24% to 2.8 lakh units. Motorcycle wholesales are up 4% to 1.4 lakh units and scooter wholesales jump 57% YoY to 1 lakh units. Domestic two-wheeler electric vehicle wholesales are up 3.6X times to 1,420 units.
Ajanta Pharma surges as its board will consider a bonus issue proposal in its upcoming board meeting on May 10.
Devyani International's Q4FY22 profit rises 22.1% YoY to Rs 75.94 crore and revenue rises 36% YoY to Rs 590.7 crore. The company adds 54 net new stores in Q4FY22 and adds 246 net new stores in FY22. In FY22, the company reports a profit of Rs 155.12 crore against a loss of Rs 62.99 crore in FY21.
Tata Chemicals is trading with more than 12 times its weekly average trading volume. Dixon Technologies (India), Solara Active Pharma Sciences, Suprajit Engineering, and Can Fin Homes are trading at more than four times their weekly average trading volumes.
Stocks like Cipla, MRF, Godrej Properties, and Deepak Nitrite, among others, are rising over the past week, ahead of their financial results.
Thyrocare Technologies is falling as its Q4FY22 profit falls 43.7% YoY to Rs 21.2 crore. Total revenue decreases by 11.8% YoY to Rs 132.7 crore as revenue from Covid-19 businesses fall 29% to Rs 16.13 crore. However, the company’s net profit rises 55.6% YoY in FY22 to Rs 176.14 crore and revenues increase by 21.9% to Rs 618.1 crore.
Bajaj Auto’s total wholesales fall 20% YoY to 3.1 lakh units with two-wheeler domestic wholesales falling 26% to 93,233 units. Three-wheelers' total wholesales are down 27% YoY to 29,063 units. Total exports also fall 18% to 2.08 lakh units.
Tata Chemicals is rising as its Q4FY22 profit jumps 39 times YoY to Rs 438.2 crore. Total Revenue increases by 32.8% YoY to Rs 3,586.9 crore on the back of strong domestic and US business revenue growth. Net profit jumps 4.9 times YoY in FY22 to Rs 1,257.6 crore and revenues increase by 23.4% to Rs 12,878 crore.
IT stocks like TCS, Infosys, Wipro, HCL Technologies, and Larsen & Toubro Infotech, among others, are falling in trade. All 10 constituents of Nifty IT are trading in the red
Hero MotoCorp’s total April 2022 wholesales rise 12.4% YoY to 4.19 lakh units as motorcycle wholesales increase by 15.7% to 3.92 lakh units. However, scooter wholesales fall 21.2% YoY to 25,995 units, and export wholesales decrease by 32.1% to 20,132 units.
Wipro’s Q4FY22 profit rises 4% QoQ to Rs 3,087.3 crore and revenues increase by 2.7% to Rs 21,362.8 crore. Operating profit margin falls 74 bps QoQ as employee benefits expenses rise 6% to Rs 12,130 crore. Net profit rises 12.6% YoY in FY22 to Rs 1,229.6 crore and revenues increase by 26.5% to Rs 81,373.2 crore.
Mahindra & Mahindra’s April 2022 total auto wholesales rise 25% YoY to 45,640 units and total farm equipment wholesales rise 49% YoY to 40,939 units. Domestic passenger vehicle wholesales rise 23% to 22,526 units and domestic commercial vehicle wholesales rise 23.4% YoY to 17,402 units.
Solara Active Pharma Sciences' Managing Director and Chief Executive Officer Rajender Juvvadi Rao tenders his resignation to pursue opportunities at Aurore Life Sciences. The resignation is effective from April 28, 2022
Tata Motor’s total April 2022 wholesales rise 74% YoY to 72,468 units and total domestic sales increase by 81% YoY to 71,467 units. Domestic commercial vehicle (CV) wholesales jump 2.1 times YoY to 29,880 units while CV exports fall 57% YoY to 958 units. Passenger vehicle (PV) wholesales rise 66% YoY in April 2022 to 41,587 units with electric PV wholesales jumping four times YoY to 2,322 units.
IndusInd Bank’s Q4FY22 net profit rises 51.2% YoY to Rs 1,400.6 crore and revenue rises 6.1% YoY to Rs 9,199.7 crore. Net interest income (NII) rises 13% YoY to Rs 3,985 crore and provisions fall 22% YoY to Rs 1,463 crore. Net interest margin (NIM) rises by 7 bps YoY to 4.2%.
Maruti Suzuki’s total wholesales fall marginally by 1.6% YoY to 1.57 lakh units with total passenger vehicle wholesales down 2.9% YoY to 1.52 lakh units. Mini car segment’s wholesales fall 22% to 22,655 units and mid-size compact car wholesales are down 19.9% to 1,756 units.
YES Bank logs a net profit of Rs 367 crore in Q4FY22 against a loss of Rs 3,787.75 crore in Q4FY21. Provisions fell 94.6% YoY to Rs 271 crore. Net interest income surges 84% YoY to Rs 1,819 crore. Asset quality improves with gross NPA falling 148 bps YoY to 13.93% and net NPA down 135 bps to 4.53%.
Riding High:
Largecap and midcap gainers today include Ajanta Pharma Ltd. (1,803.15, 4.77%), IndusInd Bank Ltd. (1,018.10, 4.04%) and Supreme Industries Ltd. (2,015.80, 3.54%).
Downers:
Largecap and midcap losers today include Dixon Technologies (India) Ltd. (3,994.85, -9.13%), Max Healthcare Institute Ltd. (391.45, -5.41%) and Aarti Industries Ltd. (847.65, -4.54%).
Crowd Puller Stocks
17 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Tata Chemicals Ltd. (1,033.00, 9.88%), Can Fin Homes Ltd. (642.40, 8.49%) and GHCL Ltd. (657.45, 6.17%).
Top high volume losers on BSE were Solara Active Pharma Sciences Ltd. (511.35, -19.99%), Dixon Technologies (India) Ltd. (3,994.85, -9.13%) and Zensar Technologies Ltd. (307.50, -4.83%).
India Tourism Development Corporation Ltd. (378.10, 1.34%) was trading at 8.0 times of weekly average. Sundaram Clayton Ltd. (3,874.05, 1.63%) and Amber Enterprises India Ltd. (3,915.50, 5.55%) were trading with volumes 5.6 and 5.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
7 stocks took off, crossing 52-week highs, while 6 stocks hit their 52-week lows.
Stocks touching their year highs included - Crisil Ltd. (3,672.75, -0.32%), GHCL Ltd. (657.45, 6.17%) and Indian Hotels Company Ltd. (261.70, 2.03%).
Stocks making new 52 weeks lows included - Rallis India Ltd. (226.40, -3.45%) and Sanofi India Ltd. (6,940.70, -0.49%).
12 stocks climbed above their 200 day SMA including Can Fin Homes Ltd. (642.40, 8.49%) and Kaveri Seed Company Ltd. (569.60, 5.64%). 29 stocks slipped below their 200 SMA including Just Dial Ltd. (816.80, -4.91%) and Astral Ltd. (2,065.95, -4.06%).