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    Trendlyne Marketwatch
    21 Jun 2022
    Market closes higher, Hindustan Zinc falls as LME Zinc falls to a record low

    Market closes higher, Hindustan Zinc falls as LME Zinc falls to a record low

    Trendlyne Analysis

    Nifty 50 closed 1.9% higher with the volatility index, Nifty VIX, falling by 5.7%. Indian indices extended their gains after snapping their six-day losing streak on Monday. European stocks follow the global trend and trade higher than Monday’s levels. Most major Asian indices closed higher, tracking the US indices futures, which is also trading in the green. The Chinese index, Shanghai SE Composite closed lower as investors keep an eye on the Covid breakouts in some parts of the country that may result in another wave of lockdowns. Crude oil rises as tight supply concerns outweigh slow economic growth induced by the aggressive rate hikes by the central banks.

    Nifty Smallcap 100 and Nifty Next 50 closed deep in the green, following the benchmark index. Nifty Smallcap 100 fell 3.2% on Monday, despite the Nifty 50 closing in the green. Nifty Media and Nifty Metal closed sharply higher than Monday’s levels. Nifty IT closed deep in the green, tracking the NASDAQ 100 futures, which is trading sharply higher.

    The market closed on an upbeat note. Nifty 50 closed at 15,638.80 (288.7, 1.9%) , BSE Sensex closed at 52,532.07 (934.2, 1.8%) while the broader Nifty 500 closed at 13,241.90 (291.2, 2.3%)

    Market breadth is ticking up strongly. Of the 1,882 stocks traded today, 1,579 were on the uptrend, and 278 went down.

    • Orient Electric, Procter & Gamble Health, Gujarat Pipavav Port, and Cholamandalam Financial Holdings are trading with higher volumes as compared to Monday.

    • Tata Steel sees a long build-up in its Jun 30 future series as its open interest rises 5.7% with put to call ratio of 0.36.

    • Bank stocks are trading in the green. Stocks like ICICI Bank, State Bank of India, Bank of Baroda, Federal Bank and Punjab National Bank are up more than 3%. The broader sectoral index Nifty Bank is also rising in trade.

    • Sadbhav Engineering hit an all-time low of Rs 13.05 after India Ratings downgraded its credit rating on the company to BB+ from BBB+. The rating agency said there is a deterioration in the company’s liquidity position due to a continuous decline in revenue in FY22. It also expects the company’s project execution to remain sluggish in FY23.

    • GAIL(India)is rising in trade as the Centre plans to monetise its city gas distribution network and green hydrogen assets. The Centre hopes to raise Rs 5,000 crore from this process.

      #ETNOWExclusive | Govt is planning to monetise GAIL’s CGD & green hydrogen assets. ET NOW has learned from sources that Govt aims to raise Rs 5000 cr from this. @priyadarshi108 has more details@GailIndia@SecyDipam@FinMinIndia@PMOIndia#GAIL#StocksToWatch#StockMarketIndiapic.twitter.com/Gp8r3aYsNd

      — ET NOW (@ETNOWlive) June 21, 2022
    • Marksans Pharma's Time-Cap Laboratories Inc recalls Kroger Brand aspirin and ibuprofen due to a label packaging issue to meet child resistant packaging requirement. A total of 12 lots containing 2,09,430 units were recalled.

    • Bharat Forge's board of directors approves transfer of the company's stake in Refu Drive GmbH to joint venture company Kalyani Powertrain in a meeting held on Monday.

    • Centre's Ministry of Finance, in its latest Monthly Economic Review, warns of the return of the twin-deficit problem arising from higher commodity prices and increased subsidy burden. The ministry expects there could be a fiscal slippage in FY23.

      Finance ministry cautioned re-emergence of the twin deficit problem in the #economy, with higher #commodity prices & rising subsidy burden leading to increase in both fiscal deficit and current account deficit. @aruproytweets reports#IndianEconomyhttps://t.co/brcUypTQam

      — Business Standard (@bsindia) June 21, 2022
    • Securities and Exchange Board of India bars asset management companies (AMCs) from selling bundled insurance products with their mutual fund schemes, according to reports. In a letter on Friday to Association of Mutual Funds in India, the market regulators told AMCs to stop this practice for new product launches. AMC companies like HDFC AMC, UTI AMC, and Nippon Life India Asset Management will likely be impacted by this.

    • JK Cement and V Mart Retail touch their 52-week lows of Rs 2,025 and Rs 2,430, respectively. Both stocks are falling for six consecutive days.

    • 3M India is trading with more than 8 times its weekly average trading volume. Procter & Gamble Hygiene & Healthcare, V Mart Retail, The Fertilisers and Chemicals Travancore, and EID Parry (India) are trading at more than four times their weekly average trading volumes.

    • Hindustan Zinc trades lower as LME Zinc falls to a record low on the LME and after floods in the Guangxi province impacted China’s Zinc capacity.

      Hind Zinc in Focus

      LME Zinc stock piles at record low on LME

      China's 8% Zinc capacity impacted due to Floods

      Hind Zinc trading near 52 week lows https://t.co/IZNsWKH8IH

      — Yatin Mota (@YatinMota) June 21, 2022
    • ICICI Securities maintains a ‘Buy’ rating on Havells India with a target price of Rs 1,644, indicating an upside of 53.5%. The brokerage remains positive on the company’s prospects due to its distribution expansion, new product launches, and rising investment in research & development. It expects the company’s net profit to grow at a 27.2% CAGR over FY22-24.

    • ICICIDirect downgrades textile stocks such as KPR Mills and Gokaldas Exports to 'HOLD' from 'BUY', and cuts their target price to Rs 635 and Rs 400, respectively. Spike in cotton prices and subdued demand from large US retailers like Target, Gap and Walmart on account of inventory pile-up are key reasons behind this downgrade.

    • Adani Group loses Rs 5.5 lakh crore market cap after the group's listed companies' stocks fell by 30% on average in the sell-of in Indian markets.

      #Adani Group Lost 5.5 Lk Cr Mcap in Recent fall

      Adani Group Companies have lost on an avg 30% fall #adaniports#adanigreen#AdaniEnterprises#Adaniwilmar#adanitotal#Adanitransmissionpic.twitter.com/PmyxbEzHpu

      — Sumit Mehrotra (@SumitResearch) June 21, 2022
    • Media stocks like Zee Entertainment Enterprises, Sun TV Network, PVR, Saregama India, and Network 18 Media & Investments, among others, are rising in trade. The broader sectoral index Nifty Media is also trading in the green.

    • Indian rupee depreciates 6 paise to 78.04 against the US dollar in early trade. All IT stocks are trading in the green, with stocks like Tata Consultancy Services, Infosys, HCL Technologies, Larsen & Toubro Infotech, MindTree, among others, rising by more than 2%. The broader sectoral index Nifty IT is also rising in trade.

    • Suven Life Sciences' stock rises the most in 11 weeks as its board approves a fund raise through rights issue of equity shares.

    • Nifty 50 sees a long build-up in its Jun 30 future series as its open interest rises 1.1% with put to call ratio of 1.05.

    • Consumer Durables stocks like Titan Company, Havells India, Voltas, Dixon Technologies (India), Aditya Birla Fashion and Retail, Whirlpool of India, among others, are rising in trade. The broader sectoral index BSE Consumer Durables is also trading in the green.

    • Happiest Minds Technologies touches a 52-week low of Rs 785.5, as Morgan Stanley Investment Funds Emerging Leaders Equity Fund sold 13.1 lakh shares of the company for Rs 800 per share through a bulk deal on Monday.

    • KEC International bags orders worth Rs 1,092 crore across its various business verticals. The company secures orders for transmission & Distribution in India, the Middle East and the Americas. Its civil business segment bags orders in the railways, residential, industrial, and defence segments in India.

    Riding High:

    Largecap and midcap gainers today include Adani Total Gas Ltd. (2,382.90, 19.79%), JSW Energy Ltd. (211.35, 8.11%) and Adani Transmission Ltd. (2,215.05, 7.51%).

    Downers:

    Largecap and midcap losers today include Supreme Industries Ltd. (1,739.90, -2.61%), Kansai Nerolac Paints Ltd. (374.55, -1.96%) and Varun Beverages Ltd. (738.70, -1.81%).

    Movers and Shakers

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

    Top high volume gainers on BSE included EID Parry (India) Ltd. (546.20, 17.69%), Gujarat State Fertilizer & Chemicals Ltd. (139.10, 17.48%) and Asahi India Glass Ltd. (516.10, 16.20%).

    Top high volume losers on BSE were Brightcom Group Ltd. (40.50, -4.93%), KPR Mill Ltd. (504.45, -3.89%) and V Mart Retail Ltd. (2,490.90, -2.29%).

    3M India Ltd. (19,987.40, 2.01%) was trading at 9.1 times of weekly average. Procter & Gamble Hygiene & Healthcare Ltd. (13,337.70, 0.35%) and IDFC First Bank Ltd. (30.40, 1.84%) were trading with volumes 7.3 and 6.1 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    12 stocks tanked below their 52 week lows.

    Stocks making new 52 weeks lows included - Bharat Petroleum Corporation Ltd. (301.20, 1.74%) and IDFC First Bank Ltd. (30.40, 1.84%).

    15 stocks climbed above their 200 day SMA including EID Parry (India) Ltd. (546.20, 17.69%) and Gujarat State Fertilizer & Chemicals Ltd. (139.10, 17.48%). 4 stocks slipped below their 200 SMA including Crisil Ltd. (3,030.95, -0.85%) and Au Small Finance Bank Ltd. (611.75, -0.39%).

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    Trendlyne Marketwatch
    20 Jun 2022
    Market close higher, Axis Bank hits 52-week low

    Market close higher, Axis Bank hits 52-week low

    Trendlyne Analysis

    Indian indices snapped their six-day losing streak and closed in the green. European stocks trade higher than Friday’s levels amid mixed global cues. Major Asian indices closed mixed, tracking the US indices, which also closed mixed on Friday. The Dow Jones closed marginally lower while the tech-heavy NASDAQ 100 rose 1.2%. The S&P 500 lost 5.8% last week, its biggest weekly loss in two years. Investors continue to monitor elevated inflation levels globally and the effect of aggressive interest rate hikes by the central banks on economic growth. Crude oil falls sharply amid demand concerns on the back of slow economic growth induced by interest rate hikes.

    Nifty Midcap 100 and Nifty Smallcap 100 closed deep in the red, despite the benchmark index closing in the green. Nifty Bank and Nifty Realty, which opened higher than Friday’s levels, closed in the red. Nifty IT closed in the green, following the tech-focused NASDAQ 100, which closed higher on Friday.

    Nifty 50 closed at 15,350.15 (56.7, 0.4%) , BSE Sensex closed at 51,597.84 (237.4, 0.5%) while the broader Nifty 500 closed at 12,950.75 (-44, -0.3%)

    Market breadth is highly negative. Of the 1,906 stocks traded today, 234 were in the positive territory and 1,648 were negative.

    • Brightcom Group, Gland Pharma, Relaxo Footwears, and Orient Electric are trading with higher volumes as compared to Friday.

    • Vedanta sees a short build-up in its Jun 30 future series as its open interest rises 11% with put to call ratio at 0.49.

    • Stocks like Persistent Systems, Pidilite Industries, Rashtriya Chemicals & Fertilizers, Angel One, and Varroc Engineering are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Axis Bank falls to a new 52-week low of Rs 624.45 per share. The stock is falling for last two consecutive sessions.

    • National Aluminium Co is falling as ICICI Securities downgrades its rating on the stock to ‘Sell’ from ‘Reduce’ with a target price of Rs 52. The brokerage cites possible demand-supply surplus in FY23-24, price and delay in the current projects leading to cost overrun for downgrading its rating on the stock. It also cut its FY23 profit estimates for the company by 37% to Rs 1,658.6 crore.

    • Delta Corp falls the most in four weeks after Rakesh Jhunjhunwala sells 57 lakh equity shares for Rs 96 crore in the open market, according to reports. Jhunjhunwala previously sold 60 lakh and 15 lakh shares between June 1-14, bringing his holding down to 3.36% from 6.17%. After the current reported transaction, his holding will come down to 1.2%.

      Shares of #DeltaCorp plunged 10% to Rs 166.65 after Rakesh Jhunjhunwala sold an additional 5.7 million equity shares of the company. #StockMarket#StocksInFocus#MarketsWithBS#Marketshttps://t.co/xeggJAQ57G

      — Business Standard (@bsindia) June 20, 2022
    • Alkem Laboratories is rising despite its St. Louis manufacturing facility receiving three observations after the conclusion of the US FDA’s facility inspection. The inspection was conducted from June 6 -17.

    • Paint companies' stocks like Asian Paints, Berger Paints, and Kansai Nerolac rise in trade today as crude oil falls to a three-week low. Nearly 50% of raw material of paint makers comes from crude oil derivatives.

    • IndusInd Bank and Amara Raja Batteries touch their 52-week lows of Rs 780.1 and Rs 446 respectively. Both stocks trade lower for eight consecutive sessions.

    • ITI is trading with more than 15 times its weekly average trading volume. The Fertilisers and Chemicals Travancore, Gujarat Pipavav Port, Orient Electric, and Vedanta are trading at more than three times their weekly average trading volumes.

    • Greenlam Industries is rising after its board of directors approve a preferential issue of Rs 195 crore for a 4.97% stake in the company to Asian Paints' promoter entity Smiti Holding and Trading.

    • FMCG stocks like Hindustan Unilever, ITC, Nestle India, Dabur India, Godrej Consumer Products, United Breweries, among others, are rising in trade. The broader sectoral index Nifty FMCG is also trading in the green.

    • JP Morgan initiates coverage on Life Insurance Corp of India with an ‘Overweight’ rating and a target price of Rs 840, indicating an upside of 29%. The brokerage finds the company’s current valuation attractive and believes that the markets are mispricing the stock.

      #StockMarkets | Shares of LIC, the largest life insurer in India, is down 31% since initial public offering (IPO) and analysts at JP Morgan think markets are mispricing the newly listed stock. https://t.co/nuBO6PVo9E

      — Mint (@livemint) June 20, 2022
    • Adani Wilmar hits the lower circuit during trade as it cuts edible oil prices by Rs 10, after the Centre reduces import duties on the commodity on Saturday.

    • Energy stocks like Reliance Industries, Bharat Petroleum Corp, Power Grid Corporation of India, Tata Power Co, NTPC, Oil and Natural Gas Corp, among others, are falling in trade after oil prices fell 5% to a three-week low on Friday. The broader sectoral index Nifty Energy is also trading in the red.

    • Axis Securities maintains a ‘Buy’ rating on Dalmia Bharat with a target price of Rs 1,635, indicating an upside of 30%. The brokerage expects the company’s market share to grow going forward on the back of production capacity expansion, cost optimization, and robust demand. It expects the company’s revenue to grow at a 14.1% CAGR over FY22-24.

    • Shares of Sun Pharmaceutical Industries rise as Jefferies upgrades the stock to 'Buy' rating from 'underperform', according to reports. It set a price target of Rs 910, an upside of 12%. The brokerage believes that the next two years' growth will be driven by Ilumya, Cequa and Winlevi while the dependance on US generics is among the lowest in the pharmaceutical sector.

    • All metals stocks are trading in the red. Stocks like Hindustan Zinc, Tata Steel, Vedanta, Hindalco Industries, NMDC, National Aluminium Co or NALCO,among others, are down by more than 3%. The broader sectoral index Nifty Metal is also falling in trade.

      #MarketsWithETNOW | #Nifty Metal cracks 4% from morning high. Take a look at the stock fall#Nifty50#TataSteel#Hindalco#StockMarketIndiapic.twitter.com/A1wbZICk4e

      — ET NOW (@ETNOWlive) June 20, 2022

    • Vodafone Idea's board to consider raising Rs 500 crore by issuance of equity shares and/or convertible warrants on a preferential basis to one or more entities of Vodafone Group. The meeting is scheduled for Wednesday.

    • Indian rupee surges 9 paise to Rs 77.96 against the US dollar in early trade. IT stocks like Tata Consultancy Services, Infosys, HCL Technologies, and Wipro also rise in trade today.

    • Vedanta invites bids for its Tuticorin-based smelter--Sterlite Copper--which is shut since mid-2018. The smelter accounted for 40% of India’s copper output before it was shut over alleged violations of environmental norms. The last date for submission of an expression of interest is July 4. Plant units, along with oxygen-generating facilities as well as residential homes, are a part of the sale offer.

    Riding High:

    Largecap and midcap gainers today include Pidilite Industries Ltd. (2,106.65, 5.36%), Godrej Consumer Products Ltd. (759.00, 4.65%) and Hindustan Unilever Ltd. (2,195.90, 4.05%).

    Downers:

    Largecap and midcap losers today include Vedanta Ltd. (230.45, -12.69%), Bandhan Bank Ltd. (274.05, -11.71%) and Oil India Ltd. (227.00, -10.86%).

    Movers and Shakers

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

    Top high volume gainers on BSE included ITI Ltd. (93.00, 12.52%) and DCB Bank Ltd. (75.10, 5.33%).

    Top high volume losers on BSE were Vedanta Ltd. (230.45, -12.69%), Rain Industries Ltd. (135.65, -10.08%) and Hindustan Copper Ltd. (84.35, -9.40%).

    Gujarat Pipavav Port Ltd. (74.90, -2.60%) was trading at 5.4 times of weekly average. Orient Electric Ltd. (247.75, -3.09%) and Tasty Bite Eatables Ltd. (8,184.00, -6.91%) were trading with volumes 5.1 and 4.0 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    125 stocks tanked below their 52 week lows.

    Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (445.30, -3.49%) and Astral Ltd. (1,607.65, -1.52%).

    5 stocks climbed above their 200 day SMA including Adani Green Energy Ltd. (1,743.65, 1.89%) and Adani Transmission Ltd. (2,060.25, 1.36%). 24 stocks slipped below their 200 SMA including Bandhan Bank Ltd. (274.05, -11.71%) and Oil India Ltd. (227.00, -10.86%).

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    Trendlyne Marketwatch
    17 Jun 2022
    Market closes lower, Pharma stocks trade in the red

    Market closes lower, Pharma stocks trade in the red

    Trendlyne Analysis

    Nifty 50 closed in the red and extended its losing streak to six days on a volatile day of trade. European stocks trade higher, following the US indices futures, which are trading in the green. Major Asian indices closed lower, tracking the US indices, which closed deep in the red on Thursday. The tech-heavy index, NASDAQ 100 fell 4% and S&P 500 closed 3.3% lower. Investors remain fearful of the impact of aggressive rate hikes by central banks on the global economy. Brent crude oil falls marginally amid demand concerns due to the possibility of slow economic growth induced by rate hikes globally. In the last week, foreign investors have sold over Rs 14,418.7 crore worth of shares of Indian companies.

    Nifty Next 50 and Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty Pharma and Nifty FMCG closed lower than Thursday’s levels. Nifty IT closed in the red, tracking the tech-focused NASDAQ 100, which fell sharply lower on Thursday.

    Nifty 50closed at 15,293.50 (-67.1, -0.4%), BSE Sensexclosed at 51,360.42 (-135.4, -0.3%) while the broader Nifty 500closed at 12,994.75 (-94.5, -0.7%)

    Market breadth is overwhelmingly negative. Of the 1,865 stocks traded today, 501 were on the uptrend, and 1,334 went down.

    • Galaxy Surfactants, Emami, G R Infraprojects, and Sundram Fastenersare trading with higher volumesas compared to Thursday.

    • Coforge sees a long build-up in its Jun 30 futures series as its open interest rises 19.9% with put to call ratio at 0.45.

    • Stocks likeZee Entertainment Enterprises, Firstsource Solutions, BSE, Jubilant Pharmova, and HLE Glasscoat are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Aster DM Healthcare announces the opening of a 550-bed super-specialty hospital in Trivandrum, Kerala. The company will invest around Rs 500 crore for the entire project. The first phase is expected to be operational by FY26.

    • Shares of Coal India rise after reports that the company is exploring to ramp up its underground mine production by four times to 100 million tonnes from 25.6 million tonnes by FY30.

    • Sugar stocks like Shree Renuka Sugars, EID Parry(India), Balrampur Chini Mills, Banmari Amman Sugars, among others, are falling after reports say that the Centre might cap the sugar exports at 6-7 million tonnes for the second straight year starting this October.

      Industry and government sources said that the country could cap exports of the sweetener at 6 million to 7 million tonnes in the 2022/23 October-September season, about one-third less than the total to be shipped out in the current season.https://t.co/Os4G6ZKc06

      — Mint (@livemint) June 17, 2022
    • Shares of Gujarat Gas and Petronet LNG are falling as Jefferies expects high liquified natural gas (LNG) prices to increase margin pressure on city gas distribution (CGD) companies. However, GAIL rises as Jefferies expects the company to be a key beneficiary of rising LNG prices.

    • Reliance Industries might be considering a bid for bankrupt beauty and personal care products maker Revlon, according to reports.

      #ETNOWExclusive#RIL considers buying out @Revlon in USA#Revlon filed for #bankruptcy in USA this week
      RIL has big plans for #beauty & personal care@nayantararai has the scoop#RelianceIndustries#MukeshAmbani#StocksToWatch
      https://t.co/kBtdNXLgQ5

      — ET NOW (@ETNOWlive) June 17, 2022
    • ICICI Securities recommends a ‘Buy’ rating on diagnostic stocks like Dr Lal Pathlabs, Metropolis Healthcare, Thyrocare Technologies, and Vijaya Diagnostic Centre. The brokerage is positive on the prospects of the diagnostic industry given the high business-to-consumer contribution, increasing specialty tests, geographical expansion, and high margins

    • Motilal Oswal initiates coverage on Motherson Sumi Wiring India with a ‘Buy’ rating and a target price of Rs 80, indicating an upside of 28%. The brokerage believes the company is well-placed to benefit from the increasing electrification of vehicles in the Indian market. It is positive on the company’s prospects given its capital efficiency and strong competitive positioning. The brokerage expects the company’s profit to grow at a 23% CAGR over FY22-25.

    • Honeywell Automation India is trading with more than four times its weekly average trading volume. Delta Corp, Rites, Titan Company, and Prestige Estates Projects are trading at more than three times their weekly average trading volumes.

    • Sun TV Network is rising as Kotak Institutional Equities upgrades the stock to 'Buy' rating from 'Reduce', according to reports. The brokerage believes that the company's core TV business is in a sweet spot, gaining share from Zee Tamil. The sale of IPL media rights for 2023-27 seasons for Rs 48,390 crore is another positive as the valuation of Sun Risers Hyderabad will rise to Rs 7,500-Rs 9,000 crore. The brokerage raised its target price to Rs 540 from Rs 460, an upside of 28.56%.

    • Stocks of hotel companies like Indian Hotels Co, EIH, Chalet Hotels, and Lemon Tree Hotels are down as India reports 12,847 fresh covid cases in the last 24 hours.

    • Promoters of Dabur India (Burman family) acquire 14.3% shares in Eveready Industries in an open offer that closed on Thursday, according to reports. The Burmans now hold up to 38.3%. In February, the Burmans gave JM Financial Services a mandate to acquire a 5.26% stake in Eveready at the same price as that of the open offer price with an intent to take over the reins at the company.

    • Pharma stocks like Dr. Reddy's Laboratories, Laurus Labs, Cipla, and Divi's Laboratories, among others are falling in trade. The broader sectoral index Nifty Pharma is also trading in red.

    • Shares of Axis Bank, Housing Development Finance Corp, Tata Consultancy Services, Bharat Petroleum, Pidilite Industries, among others, touch 52-week lows in trade.

    • IT stocks like Tata Consultancy Services, Infosys, HCL Technologies, Wipro, Tech Mahindra, Larsen & Toubro Infotech, among others, touch their 52-week lows due to growing fears of a recession in the US. The broader sectoral index BSE IT Sector also touches its new 52-week low.

      Shares of IT companies continued to remain under pressure, with the S&P BSE IT index registering a fresh 52-week low in Friday’s trade. #StockMarket#MarketsWithBS#ITShares#ITsector#Wipro#Infosys#TCShttps://t.co/wL9XkIBGVW

      — Business Standard (@bsindia) June 17, 2022
    • The Reserve Bank of India (RBI) turns net buyer of dollars in April. Recent data shows that RBI bought $1.96 billion in the foreign exchange market. RBI sold $20 billion in March to arrest the volatility of the rupee.

    • Paint stocks like Asian Paints, Berger Paints, Kansai Nerolac Paints, and Indigo Paints, among others, are falling in trade today. The fall comes amid Brent crude prices hovering around $120 per barrel. The broader Furniture-Furnishing-Paints industry is also trading in the red.

    • Delta Corp rises after its subsidiary Deltatech Gaming files for a Rs 550-crore IPO. The proposed IPO will comprise of a fresh issue of equity shares worth Rs 300 crore and an offer for sale worth Rs 250 crore.

    • RITES bags a contract worth Rs 364.56 crore from Container Corporation of India. The order relates to the operation and maintenance of shunting locomotives for a period of 10 years.

    Riding High:

    Largecap and midcap gainers today include Sun TV Network Ltd. (433.05, 5.78%), Hindustan Aeronautics Ltd. (1,898.70, 5.65%) and Bajaj Finance Ltd. (5,419.55, 2.57%).

    Downers:

    Largecap and midcap losers today include Adani Total Gas Ltd. (2,149.05, -9.57%), Bajaj Holdings & Investment Ltd. (4,471.70, -6.36%) and Titan Company Ltd. (1,936.45, -6.04%).

    Volume Rockets

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

    Top high volume gainers on BSE included Delta Corp Ltd. (184.20, 12.39%), KIOCL Ltd. (190.10, 12.02%) and Sun TV Network Ltd. (433.05, 5.78%).

    Top high volume losers on BSE were Adani Total Gas Ltd. (2,149.05, -9.57%), Titan Company Ltd. (1,936.45, -6.04%) and Avenue Supermarts Ltd. (3,460.55, -6.03%).

    Indus Towers Ltd. (208.00, 0.73%) was trading at 6.9 times of weekly average. Hindustan Aeronautics Ltd. (1,898.70, 5.65%) and Honeywell Automation India Ltd. (32,856.90, -0.23%) were trading with volumes 6.4 and 6.2 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    1 stock hit their 52-week highs, while 133 stocks were underachievers and hit their 52-week lows.

    Stock touching their year highs included - Hindustan Aeronautics Ltd. (1,898.70, 5.65%).

    Stocks making new 52 weeks lows included - Akzo Nobel India Ltd. (1,701.60, -2.49%) and Amara Raja Batteries Ltd. (461.40, -0.33%).

    7 stocks climbed above their 200 day SMA including Asahi India Glass Ltd. (464.20, 8.51%) and Jyothy Labs Ltd. (153.60, 3.99%). 19 stocks slipped below their 200 SMA including Linde India Ltd. (2,843.35, -5.18%) and Vinati Organics Ltd. (1,851.90, -4.47%).

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    Trendlyne Marketwatch
    16 Jun 2022
    Market closes lower, Nifty 50 hits 52-week low

    Market closes lower, Nifty 50 hits 52-week low

    Trendlyne Analysis

    Nifty 50 fell over 500 points from the day’s high and hit a 52-week low with the volatility index, India VIX rising above 22.5%. Indian indices closed deep in the red and extended their losing streak to five days. European Indices trade in the red, tracking the US indices futures, which is trading sharply lower. Major Asian indices, which opened higher, closed in the red amid weak global cues.

    US indices rose on Wednesday after the US Federal Reserve increased its federal funds rate by 75 bps, its biggest hike in 28 years. However, Chairman Jerome Powell doesn’t expect moves of this size to be common going forward but clarified that in its next meeting rates could rise by 50 bps or 75 bps. Brent crude oil edges higher after falling on Wednesday. Tight crude oil supply due to the geopolitical crisis, fears of slow economic growth, and lockdowns in China remain the key levers affecting the crude oil price.

    Nifty Next 50 and Nifty Smallcap 100 closed deep in the red, following the benchmark index. Nifty Media and Nifty Pharma, which opened higher, closed sharply lower than Wednesday’s levels. Nifty IT also closed in the red, tracking the tech-heavy NASDAQ 100 futures, which is trading sharply lower.

    Nifty 50closed at 15,360.60 (-331.6, -2.1%), BSE Sensexclosed at 51,495.79 (-1,045.6, -2.0%) while the broader Nifty 500closed at 13,089.20 (-291.7, -2.2%)

    Market breadth is sharply down. Of the 1,878 stocks traded today, 185 were on the uptrend, and 1,676 went down.

    • ZF Commercial Vehicle Control Systems India, PNC Infratech, Nuvoco Vistas Corporation, and Kansai Nerolac Paints are trading with higher volumes as compared to Wednesday.

    • Maruti Suzuki India sees a short build-up in its Jun 30 futures series as its open interest rises 3.1% with put to call ratio at 0.62.

    • Stocks like MMTC, LIC Housing Finance, Laxmi Organic Industries, Gland Pharma, and Tata Communications are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Infosys falls to a new 52-week low of Rs 1,401.87 per share. The stock is falling for the last five sessions.

    • Metal stocks like Vedanta, Jindal Steel & Power,Tata Steel, APL Apollo Tubes, and Hindalco Industries among others, are falling in trade. The broader sectoral index BSE Metal is also trading in red.

    • Zomato and Jio-bp (a joint venture between Reliance Industries and bp) sign an agreement for electric vehicle (EV) services, according to reports. Jio-bp will provide EV services to Zomato and access to ‘Jio-bp pulse’ the battery swapping stations for last-mile delivery.

    • All realty stocks are trading in the red. Stocks like, DLF, Godrej Properties, Oberoi Realty, Phoenix Mills, Prestige Estates Projects, Sunteck Realty and Indiabulls Real Estate are down by more than 2%. The broader sectoral index Nifty Realty is also falling in trade.

    • Hem Securities maintains a ‘Buy’ rating on PNC Infratech with a target price of Rs 294, indicating an upside of 22.5%. The brokerage company expects the company to remain profitable for the coming quarters on the back of a robust order book, a strong balance sheet, and its tendering activities. It expects the company's profit to grow at a 14.1% CAGR over FY22-24.

    • Nifty 50 falls over 400 points from the day's high and hits a 52-week low of 15,369.8 with all sectoral indices trading in the red. Nifty Bank falls over 20% from its record high and falls into the bear market territory.

      Bank Nifty in Bear Market territory
      Bank Nifty down 20.6% from record high
      Bank Nifty 600 points away from 52-week low

      Nifty hits fresh 52-week low
      Nifty down 17% from its record high#stockmarketcrash#marketcrash#Nifty#BANKNIFTYFUTURE#banknifty

      — Deepanshu Bhandari (@deepdbhandari) June 16, 2022
    • The Reserve Bank of India approves Equitas Small Finance Bank’s request of reappointing MD and CEO Vasudevan for a period of one year. The re-appointment comes in effect from July 23, 2022.

    • Sudarshan Chemical Industries is trading with more than 31 times its weekly average trading volume. Galaxy Surfactants, Brigade Enterprises, Vakrangee, and Chemplast Sanmarare trading at more than three times their weekly average trading volumes.

    • Media stocks are falling in trade, with stocks like Nazara Technologies, Zee Entertainment Enterprises, Network 18 Media & Investments, TV18 Broadcast, and Dish TV India falling below 2%. The broader sectoral index Nifty Media is also trading in the red.

    • Dredging Corp of India is rising as it secures a Rs 250 crore yearly maintenance contract from Jawaharlal Nehru Port at Navi Mumbai. The contract includes the maintenance of the Mumbai and Jawaharlal Nehru Port navigational channels.

    • Indian Overseas Bank’s board approves the raising of Rs 1,000 crore equity capital through the issuance of shares for FY23. The company will seek shareholders' approval for raising the capital soon.

    • Stocks of airline companies like Interglobe Aviation (Indigo), SpiceJet, and Jet Airways fall amid hike in ATF prices by oil marketing companies. According to reports, Chairman and SpiceJet's Managing Director Ajay Singh say that a minimum of 10-15% increase in air fares is required due to the hike in ATF prices and depreciation of the rupee. India still has a cap on air fares to prevent soaring ticket fares.

      #StocksToWatch | #Aviation stocks in focus as ATF prices have been hiked by 16% - biggest hike in last 3 months

      New rates are applicable till June 30, 2022 #SpiceJet#Indigo#StockMarketIndia#ATF#Crudepic.twitter.com/TZbXpKpA49

      — ET NOW (@ETNOWlive) June 16, 2022
    • UPL receives approval for its resolution plan submitted to National Company Law Tribunal for the revival of Kudos Chemie. UPL's arm UPL Speciality Chemicals acquires a 100% stake in Kudos Chemie for Rs 40 crore and has to invest Rs 237 crore in Kudos over a period of two years.

    • Diagnostic companies' stocks like Dr Lal Pathlabs, Metropolis Healthcare, Thyrocare Technologies and Krsnaa Diagnostics trade higher due to the gradual increase in Covid-19 cases and increased testing. Diagnostic lab stocks are in a downtrend after the third Covid-19 wave receded in January 2022.

      #CNBCTV18Market | Diagnostic companies in focus

      Last 24 hours saw highest #COVID testing tally in 2 months pic.twitter.com/yJ2uSpiqPw

      — CNBC-TV18 (@CNBCTV18Live) June 16, 2022
    • Shares of Reliance Industries rise after JP Morgan upgrades the stock to 'overweight', according to reports. The brokerage believes that the company's outperformance to Nifty50 will continue and increases its target price to Rs 3,170 per share from Rs 2,575, which is an upside of 22.10%.

    • Securities and Exchange Board of India (SEBI) initiates recovery action on BSE and National Stock Exchange for non-payment of a fine and interest relating to regulatory actions on the two exchanges. These relate to the fine imposed by the regulator for the exchanges not detecting misuse of clients' securities by Karvy Stock Broking.

    • Motilal Oswal upgrades its rating on ITC to ‘Buy’ from ‘Neutral’ with a target price of Rs 335, indicating an upside of 27%. The brokerage turns positive on the company’s prospects due to better-than-expected demand recovery in cigarettes, healthy sales traction in the FMCG segment, and lower drag from the hotels segment. It expects the company’s profit to grow at a 13.7% CAGR over FY22-24.

    • The Reserve Bank of India approves the merger of Shriram Capital and Shriram City Union Finance into Shriram Transport Finance. The merger was approved by the companies in December 2021 as part of a restructuring of the Shriram Group's lending businesses.

    Riding High:

    Largecap and midcap gainers today include Adani Transmission Ltd. (2,124.65, 3.27%), General Insurance Corporation of India (115.85, 3.25%) and Bayer Cropscience Ltd. (5,103.20, 1.92%).

    Downers:

    Largecap and midcap losers today include Vedanta Ltd. (267.45, -8.20%), Jindal Steel & Power Ltd. (326.65, -6.28%) and Tata Steel Ltd. (901.70, -6.03%).

    Volume Rockets

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

    Top high volume gainers on BSE included Vakrangee Ltd. (27.10, 9.05%), Gujarat Alkalies & Chemicals Ltd. (731.95, 1.67%) and Cera Sanitaryware Ltd. (4,082.70, 1.01%).

    Top high volume losers on BSE were eClerx Services Ltd. (1,917.05, -7.63%), Spicejet Ltd. (41.05, -6.70%) and InterGlobe Aviation Ltd. (1,649.20, -4.97%).

    Sudarshan Chemical Industries Ltd. (419.85, -3.36%) was trading at 41.8 times of weekly average. Heidelberg Cement India Ltd. (173.50, -2.53%) and Galaxy Surfactants Ltd. (2,906.70, -0.95%) were trading with volumes 23.7 and 7.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    80 stocks hit their 52-week lows.

    Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (462.95, -3.41%) and Bajaj Consumer Care Ltd. (130.80, -0.23%).

    8 stocks climbed above their 200 day SMA including Gujarat Alkalies & Chemicals Ltd. (731.95, 1.67%) and Au Small Finance Bank Ltd. (624.65, -0.44%). 22 stocks slipped below their 200 SMA including Aegis Logistics Ltd. (213.55, -6.69%) and Tata Teleservices (Maharashtra) Ltd. (119.75, -5.89%).

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    Trendlyne Marketwatch
    15 Jun 2022
    Market closes lower, Rakesh Jhunjhunwala cuts stake in Delta Corp to 3.3%

    Market closes lower, Rakesh Jhunjhunwala cuts stake in Delta Corp to 3.3%

    Trendlyne Analysis

    Nifty 50 closed in the red with the Indian volatility index, India VIX, rising above 22%. European indices trade in the green after the European Central Bank called for an unscheduled meeting to discuss the recent sell-off in government bond markets. Asian indices trade mixed as investors remain cautious ahead of a key US Federal Reserve decision to be announced later today.

    US indices closed mostly lower on Tuesday. The S&P 500 and Dow Jones closed in the red but the tech-heavy NASDAQ 100 closed marginally higher. Analysts expect the US Federal Reserve to raise interest rates by 75 bps following a surprise rise in the US consumer price index or CPI to 8.6% in May. A 75 bps rate hike will be the biggest hike by the US Fed since 1994. US treasury yields rose expecting an aggressive monetary policy due to high inflation levels. Brent Crude oil falls marginally on fears of weaker demand due to slow global economic growth.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green despite the benchmark index closing lower. Nifty Media, which opened higher than Tuesday’s level, closed in the red. Nifty IT closed lower despite the tech-focused NASDAQ 100 closing in the green on Tuesday.

    Nifty 50closed at 15,692.15 (-40.0, -0.3%), BSE Sensexclosed at 52,541.39 (-152.2, -0.3%) while the broader Nifty 500closed at 13,380.85 (-7.5, -0.1%)

    Market breadth is in the green. Of the 1,875 stocks traded today, 999 were in the positive territory and 815 were negative.

    • Bajaj Holdings & Investment, Kansai Nerolac Paints, Tube Investments of India, and KEI Industriesare trading with higher volumes as compared to Tuesday.

    • Gujarat Gas sees a long build-up in its Jun 30 futures series as its open interest rises 6.2% with put to call ratio at 0.4.

    • KPI Green Energy rises for six consecutive days to a record high on BSE, after the company received a commissioning certificate from the Gujarat Energy Development Agency for a 5.20 MWdc solar power project

      #WebExclusive | Shares of #KPIGreenEnergy hit a record high of Rs 679.20 on Wednesday as they rallied 9% on #BSE in the intra-day trade amid heavy volumes.#Buzzingstocks#Markets#ShareMarkethttps://t.co/XM4T6fCfof

      — Business Standard (@bsindia) June 15, 2022
    • Grasim Industries rises as Jefferies reiterates 'Buy' rating post an interaction between the company and brokerage, according to reports

    • Stocks like Indian Oil Corp, Rallis India, MOIL, Steel Authority of India (SAIL), and Manappuram Finance are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Redington (India) and Power Finance Corp touch their 52-week lows of Rs 120.1 and Rs 102.1 respectively. While Redington (India) falls for four consecutive sessions, Power Finance Corp trades lower for five sessions.

    • Stocks like Vijaya Diagnostic Centre, Jamna Auto Industries, RattanIndia Enterprises, DCM Shriram, and Affle (India)rise by more than 4% in trade today.

    • Tyre and rubber stocks like Balkrishna Industries, MRF, Vamshi Rubber, and Dolfin Rubbers, among others are rising in trade. The rubber industry is also trading in green.

    • Shares of Delta Corp fall as Rakesh Jhunjhunwala informs the exchange that he reduced his holding by 75 lakh or 2.8% between June 1 and June 14 according to an exchange filing. He now holds a 3.37% stake in the company

      #StocksToWatch | Delta Corp in focus: #RakeshJhunjhunwala cuts stake in company to 3.3652% from 6.1695%#RJ#DeltaCorp#StockMarketIndia#MarketsWithETNOWpic.twitter.com/K0QMTPTPNR

      — ET NOW (@ETNOWlive) June 15, 2022
    • Jamna Auto Industries is trading with more than nine times its weekly average trading volume. Procter & Gamble Health, Sun TV Network, Tata Communications, and Mahanagar Gas are trading at more than three times their weekly average trading volumes.

    • India’s merchandise exports rise 20.5% YoY to $38.9 billion and imports rise 62.8% YoY to $63.2 billion in May 2022. While the merchandise trade deficit widens by 272% YoY to a record $24.3 billion.

    • Adani Transmission secures a green loan certification for a $700 million revolving facility. The loan has been raised in a revolving project financing deals from international banks for its under-construction transmission network portfolio. This capex revolving structure will provide funding of $1.1 billion on a fully drawn basis.

    • IIFL Wealth Management rises after the Competition Commission of India approves the purchase of 24.9% stake in the company by Bain Capital, according to reports.

    • Jamna Auto Industries is trading with more than nine times its weekly average trading volume. Procter & Gamble Health, Sun TV Network, Tata Communications, and Mahanagar Gas are trading at more than three times their weekly average trading volumes.

    • Auto stocks like Maruti Suzuki India, Tata Motors,Mahindra & Mahindra, Eicher Motors, Balkrishna Industries, among others, are rising in trade. The broader sectoral index Nifty Auto is also trading in the green.

    • ICICI Securities maintains a ‘Buy’ rating on JK Cement with a target price of Rs 3,170, indicating an upside of 48.3%. The brokerage expects the company’s market share to increase on the back of expanding production capacity and a diversified market mix. It expects JK Cement's profit to grow at a 25.3% CAGR over FY22-24.

    • Stocks ofsugar mills like Shree Renuka Sugars,Balrampur Chini Mills, Bajaj Hindustan Sugar and Dhampur Sugar Mills rise after the government announces a meeting with the mills and exporters.

      #CNBCTV18Market | Sugar stocks gain, Balrampur Chini up nearly 2% on Sugar Federations & Sugar Exporters meet with Food Ministry to discuss the increase in exports. pic.twitter.com/zp3BPMY1Zf

      — CNBC-TV18 (@CNBCTV18Live) June 15, 2022
    • Tata Communications touches a 52-week low after brokerages like Motilal Oswal, UBS, and Emkay Global reduce their target price for the stock. This comes after the company's annual investor day meet. Motilal Oswal expects growth for the company to moderate over FY22-24. UBS reduces its EBITDA CAGR for the company to 15% for FY22-24.

    • Indian rupee rises 5 paise to Rs 77.9 against the US dollar in early trade today.

    • JSW Steel’s crude steel production rises 31% YoY to 17.89 lakh tonnes in May 2022. Production of flat-rolled products rises 29% YoY to 12.84 lakh and long-rolled products rise 25% YoY to 3.86 lakh tonnes.

    • Ashok Leyland’s electric vehicle (EV) arm Switch Mobility is in talks with investors to raise $200 million for capex needs, according to reports. Switch Mobility will use this money to improve the products and capacity of its EVs. It also plans to raise $100 million for Switch’s subsidiary Ohm Global Mobility to acquire new businesses. Ohm Global will look into operational efficiency, maintenance, and installation of charging points at depots for Switch buses.

    • One97 Communications' (Paytm) loan disbursals in April 2022-May 2022 rise 471% YoY to 55 lakh. The value of loans disbursed through its platform stands at Rs 3,576 crore for April and May. User engagement is up during the two-month period with monthly transacting users increasing 48% YoY to 7.4 crore, and gross merchandise value up 105% YoY to Rs 1.96 lakh crore.

    Riding High:

    Largecap and midcap gainers today include Bajaj Finserv Ltd. (11,809.70, 4.17%), Au Small Finance Bank Ltd. (627.40, 4.06%) and Indraprastha Gas Ltd. (355.35, 4.01%).

    Downers:

    Largecap and midcap losers today include Tata Communications Ltd. (875.35, -4.95%), Canara Bank (188.30, -4.49%) and Macrotech Developers Ltd. (1,056.25, -3.72%).

    Volume Rockets

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

    Top high volume gainers on BSE included DCM Shriram Ltd. (988.15, 5.53%), Vardhman Textiles Ltd. (266.00, 3.89%) and Jamna Auto Industries Ltd. (106.90, 3.64%).

    Top high volume losers on BSE were Mastek Ltd. (2,145.65, -7.06%), PTC India Ltd. (74.00, -5.61%) and Tata Communications Ltd. (875.35, -4.95%).

    Procter & Gamble Health Ltd. (4,154.75, 0.73%) was trading at 8.4 times of weekly average. PNC Infratech Ltd. (237.70, -0.86%) and Sun TV Network Ltd. (411.45, -1.98%) were trading with volumes 8.2 and 6.0 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    1 stock took off, crossing 52-week highs, while 27 stocks hit their 52-week lows.

    Stock touching their year highs included - Varun Beverages Ltd. (786.85, 1.70%).

    Stocks making new 52 weeks lows included - Bajaj Consumer Care Ltd. (131.10, -0.79%) and Bharat Petroleum Corporation Ltd. (314.00, -0.10%).

    9 stocks climbed above their 200 day SMA including APL Apollo Tubes Ltd. (928.50, 6.06%) and Au Small Finance Bank Ltd. (627.40, 4.06%). 1 stock slipped below their 200 SMA including Oil And Natural Gas Corporation Ltd. (151.40, -2.92%).

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    T
    Trendlyne Marketwatch
    14 Jun 2022
    Market closes lower, Bajaj Finance touches a new 52-week low of Rs 5,284

    Market closes lower, Bajaj Finance touches a new 52-week low of Rs 5,284

    Trendlyne Analysis

    Indian indices closed in the red after gyrating between losses and gains on a volatile day of trade. India’s consumer price index or CPI eases to 7.04% in May but remains well above the central bank’s upper tolerance level of 6%. Most European indices trade higher amid mixed global cues. Major Asian indices closed lower, tracking the US indices, which closed deep in the red on Monday. The S&P 500 officially entered the bear market territory after falling more than 20% from its high. The tech-heavy NASDAQ 100 fell 4.7% and the Dow Jones declined by 2.8% on Monday. Crude oil edges higher despite recessionary fears and reduced demand from China due to new Covid curbs.

    Nifty Next 50 closed in the green, despite the benchmark index closing flat. Nifty Metal and Nifty Realty closed higher than Monday’s levels. Nifty IT closed marginally higher, taking cues from the tech-focused NASDAQ futures, which is trading in the green.

    Nifty 50 closed at 15,732.10 (-42.3, -0.3%), BSE Sensex closed at 52,693.57 (-153.1, -0.3%) while the broader Nifty 500 closed at 13,388.30 (-28.6, -0.2%)

    Market breadth is in the red. Of the 1,873 stocks traded today, 771 were on the uptrend, and 1,034 went down.

    • ZF Commercial Vehicle Control Systems India, Relaxo Footwears, Ratnamani Metals & Tubes, and Jyothy Labsare trading with higher volumesas compared to Monday.

    • Adani Enterprisessees a long build-up in its Jun 30 futures series as its open interest rises 1.9% with put to call ratio at 0.81.

    • Shares of oil marketing companies like Hindustan Petroleum Corp and Bharat Petroleum Corp hit their new 52-week lows after reports of reduction in marketing margins.

    • Stocks like National Aluminium Co, ICICI Lombard General Insurance Co, V Mart Retail, Metropolis Healthcare, and Aditya Birla Sun Life AMC are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Shares of rice mills like Kohinoor Foods and KRBL rise after food secretary Sudanshu Pandey clarifies that there are no plans to restrict rice shipment as there are ample stockpiles of rice.

    • Chemplast Sanmar and Medplus Health Services hit their all-time lows of Rs 430 and Rs 714.5 respectively. While Medplus Health Services trades lower for eight consecutive days, Chemplast Sanmar falls for four days.

    • The Centre plans to restart NTPC plants with a capacity of more than 5 GW to supply power as the monsoon approaches, according to reports. This move comes in as the Centre plans to import gas to meet the rise in power demand. According to a report, the electricity produced from natural gas may cost up to Rs 22-23 per unit, up to 5X higher than the current tariffs.

    • LIC trades in the green for the first time in June 2022. This arrests the stock's 10-day losing streak after listing

      #CNBCTV18Market | LIC snaps 10-day losing streak, is in the green for the 1st time since May 30 pic.twitter.com/BLKXosXbXg

      — CNBC-TV18 (@CNBCTV18Live) June 14, 2022
    • ICICI Securities maintains a ‘Hold’ rating on Voltas, with a target price of Rs 1,033 indicating an upside of 4%. The brokerage sees limited upside in the stock’s price at current valuations as the company’s market share declines in FY22 and high raw material prices are expected to increase margin pressure in FY23.

    • Shilpa Medicare is trading with more than nine times its weekly average trading volume. SIS, G R Infraprojects, Bajaj Holdings & Investment, and TCNS Clothing Co.are trading at more than three times their weekly average trading volumes.

    • ICICI Direct maintains a ‘Buy’ rating on Trent, with a target price of Rs 1,470, indicating an upside of 34%. The brokerage remains positive on the company’s prospects due to its efficient supply chain, expansion plans, strong liquidity position, and rising online presence. The company’s revenue is expected to grow at a 32.1% CAGR over FY22-24, the brokerage said.

    • India's May wholesale price index comes in at 15.88% against 15.08% in April. This comes after the consumer price index slowed to 7.04% in May against 7.79% in April.

    • G R Infraprojects falls and touches a new 52-week low on reports that the Central Bureau of Investigation conducted searches at various locations. The raids are in connection to an alleged irregularity in the national road highway project in Assam.

    • Adani New Industries, an arm of Adani Enterprises, and TotalEnergies from France ink an agreement to create a green hydrogen ecosystem in India. TotalEnergies will acquire a 25% stake in Adani New Industries. Adani New Industries plans to invest $50 billion over the next 10 years in green hydrogen and associated ecosystem.

      #StocksToWatch | Total to acquire 25% in Adani New Industries (ANIL) from #Adani Enterprises

      ANIL ambition is to invest over $50 billion over the next 10 years in green hydrogen@Adani_Gas#StockMarketIndiapic.twitter.com/t3Ji42Y9zs

      — ET NOW (@ETNOWlive) June 14, 2022
    • Shares of Bajaj Finance fall to a new 52-week low of Rs 5,284.2 apiece after falling nearly 5.5% on Monday.

    • WPIL rises in trade as it receives an order worth Rs 430.9 crore from the government of West Bengal to execute a turnkey project. The project involves the construction, design, and commissioning of a clear water reservoir. The project is expected to be completed over a period of 24 months.

    • India's retail inflation marginally slips to 7.04% in May, but stays well above the upper limit of the Reserve Bank of India's target range. Food inflation, which counts for nearly half of the retail inflation basket rises 7.97%, marginally lower than 8.31% in the previous month.

    • Asian Paints touches its 52-week low of Rs 2,585 on the BSE, due to growing margin concerns on account of rising inflation.

      Shares of #AsianPaints hit a 52-week low of Rs 2,585 as they fell 3% on the BSE in Tuesday's intra-day deal on margin concerns due to rising inflation.#StockMarkets#MarketsWithBS#StocksInFocushttps://t.co/Z8yJA5og67

      — Business Standard (@bsindia) June 14, 2022
    • Dynamatic Technologies is rising as the company receives a contract from Selia Aeronautique Canada, a subsidiary of Airbus Atlantic SAS, to manufacture the escape hatch door for Airbus A220 aircraft.

    • Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, receives a report from the transaction auditor of fraudulent transactions worth Rs 3,250.7 crore in FY20-21. The application regarding the fraud transactions is filed with the NCLT (National Company Law Tribunal) against 14 respondents, by the auditor. The Srei group companies are currently undergoing an insolvency resolution process.

    • Metropolis Healthcare is falling as reports suggest that, chief executive Ameera Shah and her family have initiated a formal process to sell a part of the promoter stake in the company. However, in a media statement in reference to such reports, the company clarifies that the promoters have no intention of exiting the business and are focusing on strengthening the company’s brand.

    • Amara Raja Power Systems, an arm of Amara Raja Group, grabs a contract from NTPC to set up a green hydrogen fueling station in Leh, according to reports. The pilot project will produce 80 kg per day of 99.97% pure hydrogen which will be utilized for compression, storage, and distribution of the fuel. NTPC also plans to ply five hydrogen fuel buses in the region.

    Riding High:

    Largecap and midcap gainers today include Adani Enterprises Ltd. (2,196.45, 5.61%), Aurobindo Pharma Ltd. (535.75, 3.67%) and Varun Beverages Ltd. (773.70, 3.43%).

    Downers:

    Largecap and midcap losers today include Oil India Ltd. (268.15, -5.80%), Hindustan Petroleum Corporation Ltd. (214.00, -5.66%) and Bajaj Auto Ltd. (3,681.75, -5.14%).

    Movers and Shakers

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

    Top high volume gainers on BSE included TCNS Clothing Co. Ltd. (559.65, 8.35%), Shilpa Medicare Ltd. (449.65, 6.69%) and Swan Energy Ltd. (234.40, 6.47%).

    Top high volume losers on BSE were Indiabulls Housing Finance Ltd. (101.75, -3.23%), Crompton Greaves Consumer Electricals Ltd. (317.45, -3.07%) and Tech Mahindra Ltd. (1,030.15, -2.07%).

    SIS Ltd. (445.15, -0.84%) was trading at 11.4 times of weekly average. Bajaj Holdings & Investment Ltd. (4,912.40, -0.31%) and Page Industries Ltd. (39,999.75, -1.33%) were trading with volumes 6.4 and 4.3 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    1 stock hit its 52-week highs, while 53 stocks tanked below their 52-week lows.

    Stock touching their year highs included - Varun Beverages Ltd. (773.70, 3.43%).

    Stocks making new 52 weeks lows included - Asian Paints Ltd. (2,635.40, -0.95%) and Bajaj Consumer Care Ltd. (132.15, -2.22%).

    4 stocks climbed above their 200 day SMA including Balrampur Chini Mills Ltd. (395.80, 2.69%) and Jyothy Labs Ltd. (149.90, 1.08%). 22 stocks slipped below their 200 SMA including Gujarat State Fertilizer & Chemicals Ltd. (134.30, -5.22%) and Grindwell Norton Ltd. (1,609.95, -3.81%).

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    T
    Trendlyne Marketwatch
    13 Jun 2022
    Market closes in the red, HDFC Securities maintains a ‘Reduce’ rating on Siemens

    Market closes in the red, HDFC Securities maintains a ‘Reduce’ rating on Siemens

    Trendlyne Analysis

    Nifty 50 fell over 2.6% and closed deep in the red with the volatility index, India VIX, rising above 22%. European indices follow the global trend and trade sharply lower than Friday’s levels. Major Asian indices also closed lower, tracking the US indices which closed in the red on Friday. The US indices fell following a surprise rise in the US consumer price index or CPI to 8.6% in May, which may lead to an aggressive monetary policy from the US Federal Reserve. The tech-heavy NASDAQ 100 fell 3.6% while S&P 500 declined 2.9% on Friday. The shorter term five-year US treasury yields surged higher than the 30-year Treasury notes on fears of recession. Investors also continue to monitor the resumption of Covid-19 lockdowns in parts of China, which could slow down the global economy and disrupt supply chain. India’s index of industrial production or IIP rises to an eight-month high of 7.1% YoY in April led by higher electricity and mining output.

    Nifty Next 50 and Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty Media and Nifty Auto closed lower than Friday’s levels. Nifty IT closed in the red, following the NASDAQ 100, which fell 3.6% on Friday.

    Nifty 50closed at 15,774.40 (-427.4, -2.6%), BSE Sensexclosed at 52,846.70 (-1,456.7, -2.7%) while the broader Nifty 500closed at 13,416.90 (-364.9, -2.7%)

    Market breadth is overwhelmingly negative. Of the 1,900 stocks traded today, 152 were in the positive territory and 1,726 were negative.

    • Orient Electric, Gujarat Fluorochemicals, TTK Prestige, and Macrotech Developers are trading with higher volumes as compared to Friday.

    • Pidilite Industries sees a long build-up in its Jun 30 futures series as its open interest rises 2.2% with put to call ratio at 0.64.

    • Cement stocks like UltraTech Cement, Grasim Industries, Ambuja Cements, Shree Cements, ACC, JK Cement, The Ramco Cements, among others, are falling in trade today. Brokerage Nirmal Bang expects earnings to fall for cement companies because of prolonged cost inflation. Also, falling demand, low pricing power, and rising crude oil prices may dent growth for this sector.

    • Stocks like Chambal Fertilisers & Chemicals, Birla Corporation, Vijaya Diagnostic Centre, Vardhman Textiles, and GMM Pfaudler are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Life Insurance Corp of India hits an all-time low of Rs 669.7, falls for 10 consecutive days. The company falls more than 23% since its listing.

    • Hindustan Zinc touches a 52-week low of Rs 276.25 as the government plans to sell its stake in the company in tranches, the Secretary of Department of Investment and Public Asset Management said on Friday. Last month, the cabinet approved the sale of the government’s stake of 29.5% in the company to raise Rs 38,000 crore.

    • Bajaj Finserv and NMDC touch their 52-week lows of Rs 11,482.5 and Rs 114.8 respectively. While Bajaj Finserv falls for three days, NMDC trades lower for four consecutive days.

    • Future Retail rises as National Company Law Appellate Tribunal (NCLAT) upholds the Competition Commission of India’s decision to suspend the deal between Amazon and Future Coupons, a subsidiary of Future Retail. NCLAT also orders Amazon to pay a Rs 200-crore fine within 45 days for suppressing information during its 2019 deal with Future Coupons.

    • The Nifty IT is falling and is on track for its worst day in over two weeks. All stocks part of the index are falling, with Mindtree and Coforge being losing the most during trade today.

    • G R Infraprojects is trading with more than 28 times its weekly average trading volume. Rajesh Exports, RBL Bank, Relaxo Footwears, and Minda Industriesare trading at more than four times their weekly average trading volumes.

    • HDFC Securities maintains a ‘Reduce’ rating on Siemens and reduces the target price to Rs 2,071 from Rs 2,120. The brokerage cut its target price and continues to remain bearish on the company’s prospects due to supply chain issues impacting its order execution.

    • Rajesh Exports is rising after a subsidiary of the company inked a pact with the Telangana government to set up a fabrication facility in the state with an investment of Rs 24,00 crore. The stock is at the highest level seen in three months.

    • Adani Group is in talks with foreign banks to raise $4.5 billion through a mix of overseas loan instruments, according to reports. The proposed loan structure includes stock-backed bridge loans and a senior debt facility for 18 months. The proceeds of this fundraising will be utilized n the acquisition of Holcim’s stakes in the listed companies Ambuja Cements and ACC.

    • Coal India floats two international competitive bidding e-tenders of three million tonnes each to import coal from abroad. The two medium-term tenders have an option of increasing the bid quantity by 100% to 12 million tonnes.

    • Media stocks like Zee Entertainment Enterprises, Sun TV Network, PVR,Network 18 Media & Investments, and Saregama India, among others, are falling in trade today. The broader sectoral index Nifty Media is also trading in the red.

    • RBL Bank is falling in trade after the RBI appoints R Subramaniakumar as the company’s new Managing Director (MD) and CEO. The appointment comes after the former MD and CEO unexpectedly stepped down.

    • Foreign Portfolio Investors (FPI) pull out Rs 14,000 crore from equities this month because of economic slowdown, high inflation in the US, and supply constraints. Net outflow by FPIs reaches Rs 1.8 lakh crore in 2022.

    • Pharma stocks like Sun Pharmaceutical Industries, Divi’s Laboratories, Dr. Reddy’s Laboratories, Aurobindo Pharma, Abbott India, among others, are falling in trade as the pharma sector continues to underperform due to rising costs and prevailing pricing pressures in the US generic market.

      Tepid growth of pharma companies in May indicates that the pressure will continue for the near term.

      (By @UjjvalJauhari)https://t.co/vX7S1xmnzo

      — Mint (@livemint) June 13, 2022
    • Rupee falls to a new all-time low of Rs 78.14 since breaching the record low of Rs. 77.80 and touching new lows over the past few weeks.

    • Public sector banking stocks like State Bank of India, Canara Bank, Punjab National Bank, and Indian Overseas Bank, among others, are falling in trade today. The broader sectoral index Nifty PSU Bank is also trading in the red.

    • CDC Group PLC, a British investment firm, sells a 4.2% stake (1.6 crore shares) in IIFL Finance, worth Rs 526.9 crore, through bulk and block deals. Max Life Insurance and Nomura India Investment Fund pick up 1.8% stake through a bulk deal in IIFL Finance. Superstar Sunil Singhania’s Abakkus Growth Fund-2 also purchases 3.1 lakh shares (0.08% stake), Nomura Funds Ireland PLC buys 6.5 lakh shares (0.17% stake), Employee Provident Fund purchases 5 lakh shares (0.13% stake), L&T Mutual Fund purchases 4.8 lakh shares (0.13% stake), among others.

    Riding High:

    Largecap and midcap gainers today include Adani Green Energy Ltd. (1,798.70, 2.34%), Honeywell Automation India Ltd. (33,450.05, 2.30%) and Marico Ltd. (500.15, 1.54%).

    Downers:

    Largecap and midcap losers today include Gujarat Gas Ltd. (447.65, -7.40%), Bajaj Finserv Ltd. (11,386.05, -7.08%) and JSW Energy Ltd. (230.75, -6.86%).

    Volume Rockets

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

    Top high volume gainers on BSE included Rajesh Exports Ltd. (548.35, 4.91%), Minda Industries Ltd. (895.70, 3.47%) and Sheela Foam Ltd. (2,803.75, 0.10%).

    Top high volume losers on BSE were RBL Bank Ltd. (87.85, -22.67%), Punjab & Sind Bank (14.30, -4.35%) and Zee Entertainment Enterprises Ltd. (226.70, -4.00%).

    Gillette India Ltd. (4,948.25, -0.12%) was trading at 15.3 times of weekly average. Relaxo Footwears Ltd. (974.90, -1.01%) and Cholamandalam Financial Holdings Ltd. (615.95, -1.29%) were trading with volumes 5.0 and 4.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    1 stock overperformed with 52-week highs, while 63 stocks were underachievers and hit their 52-week lows.

    Stock touching their year highs included - Mahindra Lifespace Developers Ltd. (403.15, -1.71%).

    Stocks making new 52 weeks lows included - Astral Ltd. (1,635.90, -0.73%) and Bajaj Finance Ltd. (5,358.25, -5.46%).

    27 stocks slipped below their 200 SMA including Sunteck Realty Ltd. (430.80, -7.97%) and Cholamandalam Investment & Finance Company Ltd. (609.00, -6.36%).

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    T
    Trendlyne Marketwatch
    10 Jun 2022
    Market closes lower, Medplus Health Services trades below its issue price

    Market closes lower, Medplus Health Services trades below its issue price

    Trendlyne Analysis

    Nifty 50 fell over 250 points and closed in the red amid weak global cues. Major Asian indices closed lower, tracking the US indices which also closed in the red on Thursday. The US indices closed sharply lower led by the tech-focused NASDAQ 100, which fell over 2.7%. S&P 500 lost 2.4% while Dow Jones fell 1.9% as investors look ahead to the inflation print to be released later today. Brent crude oil edges lower but continues to trade at elevated levels as China imposes new Covid-19 lockdown measures in parts of Shanghai. On Thursday, the European Central Bank said it would raise the interest rate next month, its first hike since 2011. European indices follow the global trend and trade lower than Thursday’s levels.

    Nifty Smallcap 100 and Nifty Next 50 closed in the red, following the benchmark index. Nifty Pharma and Nifty Metal closed lower than Thursday’s levels. Nifty IT closed in the red, tracking the NASDAQ 100, which fell over 2.7% on Thursday.

    Nifty 50closed at 16,201.80 (-276.3, -1.7%), BSE Sensexclosed at 54,303.44 (-1,016.8, -1.8%) while the broader Nifty 500closed at 13,781.75 (-195.4, -1.4%)

    Market breadth is sharply down. Of the 1,880 stocks traded today, 557 were in the positive territory and 1,274 were negative.

    • GMR Infrastructure, ZF Commercial Vehicle Control Systems India, Kansai Nerolac Paints, and Krishna Institute of Medical Sciencesare trading with higher volumesas compared to Thursday.

    • Grasim Industries sees a long build-up in its Jun 30 futures series as its open interest rises 1.1 % with put to call ratio at 0.46.

    • Strides Pharma Science's Singapore arm receives approval from the US FDA for Ibuprofin oral suspension drug. This is a non-steroidal and anti-inflammatory drug used as a pain killer for various conditions. Strides Pharma has a competitive generic therapy designation for the drug with 180 days of exclusivity.

    • Oil India rises 18.2% this week on account of rising crude oil prices. India's crude oil basket reached a decade high of $121 per barrel, as retail fuel prices continue to remain unchanged. The company’s three-year average annual ROE stands at 16.7%.

    • India's auto sector's May wholesales indicate that the worst might be over for the industry as car and bike sales surge.

      #AutoSales | May passenger vehicle sales at 2.51 lk units vs 88,045 units, as per latest @siamindia data#Automobile#SIAM#PassengerVehiclespic.twitter.com/6JjsmkBfWP

      — ET NOW (@ETNOWlive) June 10, 2022
    • Stocks like Birla Corporation, Jindal Stainless, Equitas Small Finance Bank, UltraTech Cement, andAmber Enterprises India India are in the oversold zoneaccording to the technical indicator relative strength index or RSI.

    • Morgan Stanley gives an ‘overweight’ rating to Tata Consumer Products with a target price of Rs 888, indicating an upside of 18%. It expects the company to expand its sales and distribution infrastructure to become the largest FMCG company. The management believes that reducing costs, building strategic partnerships, and improving cash flows will drive margin growth. However, the brokerage expects fluctuations in input costs, and weak profitability in the packaged food business to affect the earnings of the company.

    • Bank stocks like HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank and Bandhan Bank, among others, are falling in trade. The broader sectoral index Nifty Bank is also trading in the red.

    • Sugar companies like Shree Renuka Sugars, EID Parry India, The Andhra Sugars, among others, are rising. This is because state-owned fuel retailers--Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp--agree to provide relief to sugar mills, and other producers of ethanol (which is blended with motor fuel). The fuel retailers will compensate ethanol producers for higher energy costs by paying Rs 1,604 per kilolitre for ethanol produces from sugarcane juice, Rs1,439 for B-heavy molasses and Rs 1,179 for ethanol produced from C-heavy molasses. This relief is available between June 1 to November 30.

      #BQStocks | Shares of sugar companies rise.

      Here's why: https://t.co/F9hCe6giVjpic.twitter.com/d3amSVtHB3

      — BQ Prime (@bqprime) June 10, 2022
    • IIFL Finance is trading with more than 33 times its weekly average trading volume. Tata Teleservices (Maharashtra), TTK Prestige, V-Guard Industries, and Sheela Foam are trading at more than three times their weekly average trading volumes.

    • Axis Direct maintains a ‘Buy’ rating on Ambuja Cements with a target price of Rs 405, indicating an upside of 11%. The brokerage remains positive on the company’s prospects due to its focus on selling premium products, sharp cost optimization, new capacity expansion, and higher sales of blended cement. The company's net profit is expected to rise 25.1% in CY23 over CY22, the brokerage added.

    • Medplus Health Services hits a new 52-week low as the stock trades below its issue price of Rs 796. The stock is falling for the last six consecutive sessions.

    • IIFL Finance is trading with more than 33 times its weekly average trading volume. Tata Teleservices (Maharashtra), TTK Prestige, V-Guard Industries, and Sheela Foamare trading at more than three times their weekly average trading volumes.

    • Omaxe is rising after the company announces its partnership with Reliance Jio-BP. It plans to establish a battery charging ecosystem for electric vehicles. Jio-BP will set up electric vehicle charging and swapping infrastructure at various Omaxe properties gradually.

    • Shares of Deepak Nitrite rise as the company clarifies that it will restart its plant that caught fire only after complying with the Gujarat state government's order. The plant needs to undergo stability studies and other compliances before reopening.

    • Fitch Ratings revises the outlook on India’s long-term foreign-currency issuer default rating to ‘stable’ from ‘negative’. It expects India’s fast economic recovery and stabilization of the financial sector to bode well for its growth. The rating agency forecasts India’s GDP growth for FY23 at 7.8%

      "We expect (India's) robust growth relative to peers to support credit metrics in line with the current rating," the rating agency said. https://t.co/xQaSaqTMFk

      — Mint (@livemint) June 10, 2022
    • Metal stocks are trading in the red. Stocks like Tata Steel, Hindalco Industries, Jindal Steel & Power, NMDC, Steel Authority of India and National Aluminium Co or NALCO are falling below 2%. The broader sectoral index Nifty Metal is also falling in trade.

    • Alembic Pharmaceuticals receives tentative approval from the US FDA for its Abbreviated New Drug Application (ANDA) for dasatinib tablets. The drug will be used to treat 'Philadelphia Chromosome-positive Chronic Myeloid Leukaemia'. The dasatinib tablets have an estimated market size of $1.46 billion.

    • IT stocks like Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, and Tech Mahindra are falling in trade today. The broader sectoral index Nifty IT is also trading in the red today. According to reports, IT stocks are falling as TCS warns of low growth and a high inflation environment going forward. IT stocks are falling despite the Indian rupee falling 4 paise to hit its all-time low of Rs 77.82 against the dollar in early trade today.

    • Shares of IIFL Finance rise the most in six weeks to nearly 9% as its subsidiary IIFL Home Finance enters into definitive agreements to raise Rs 2,200 crore of primary capital for a 20% stake from the Abu Dhabi Investment Authority.

    • Welspun Enterprises is rising as it plans to plans to sell its operating road projects at an aggregate enterprise value of Rs 6,000 crore to Actus. These projects comprise five completed hybrid annuity models and one tolled road.

    • HFCL is rising as it receives orders worth Rs 73.4 crore to supply unlicensed band radio (UBRs) and optical fibre cables. The order for the supply of UBRs is worth Rs 51.1 crore and the order for the supply of optical fibre cables is worth Rs 22.3 crore.

    • Dr Reddy’s Laboratories arm Aurigene Discovery inks a global licensing pact with Olema Pharmaceuticals to research, develop, and commercialise novel small molecule inhibitors for a cancer project. Olema will pay a license fee of $8 million to get access to Aurigene's existing cancer research project. Dr Reddy's arm can gain up to $430 million based on clinical development and milestones, and there will also be royalties on annual net sales.

    Riding High:

    Largecap and midcap gainers today include Deepak Nitrite Ltd. (1,853.40, 3.82%), Trent Ltd. (1,113.30, 2.68%) and Emami Ltd. (422.00, 2.30%).

    Downers:

    Largecap and midcap losers today include Godrej Properties Ltd. (1,313.40, -4.24%), Adani Total Gas Ltd. (2,398.30, -3.99%) and Kotak Mahindra Bank Ltd. (1,791.80, -3.94%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Tata Teleservices (Maharashtra) Ltd. (140.50, 9.98%), IIFL Finance Ltd. (353.70, 7.72%) and IOL Chemicals and Pharmaceuticals Ltd. (355.00, 7.28%).

    Top high volume losers on BSE were PNB Housing Finance Ltd. (369.45, -7.04%), V-Guard Industries Ltd. (230.45, -2.39%) and TTK Prestige Ltd. (792.25, -2.38%).

    Sheela Foam Ltd. (2,801.05, -0.62%) was trading at 5.1 times of weekly average. JSW Energy Ltd. (247.75, 1.75%) and Torrent Power Ltd. (466.00, 1.89%) were trading with volumes 4.3 and 3.7 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    2 stocks overperformed with 52-week highs, while 14 stocks tanked below their 52-week lows.

    Stocks touching their year highs included - GHCL Ltd. (663.40, -0.81%) and Oil India Ltd. (300.20, 0.98%).

    Stocks making new 52 weeks lows included - Grasim Industries Ltd. (1,326.50, 1.33%) and Gujarat State Petronet Ltd. (237.30, -1.45%).

    7 stocks climbed above their 200 day SMA including Tata Teleservices (Maharashtra) Ltd. (140.50, 9.98%) and Trent Ltd. (1,113.30, 2.68%). 15 stocks slipped below their 200 SMA including Suzlon Energy Ltd. (8.60, -3.37%) and Network 18 Media & Investments Ltd. (78.60, -2.90%).

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    T
    Trendlyne Marketwatch
    09 Jun 2022
    Market closes higher, Dalmia Bharat commits to a capex of Rs 9,000 crore on rising demand for cement

    Market closes higher, Dalmia Bharat commits to a capex of Rs 9,000 crore on rising demand for cement

    Trendlyne Analysis

    Nifty 50closed in the green with the volatility index, India VIX, falling by 3.5%. Indian indices fell on Wednesday after the Reserve Bank of India (RBI) increased the repo rate by 50 bps to 4.9% as it withdrew its ‘accommodative stance’ for economic growth. Most Asian indices closed lower, tracking the US indices, which closed in the red on Wednesday. US indices closed lower amid rising bond yields as investors await the global inflation print releases and monetary policy decisions by global central banks this week. Brent crude oil rises above $123 per barrel and hits a 13-week high as the commodity’s demand is expected to rise with easing lockdowns in China. European indices follow the global trend and trade lower than Wednesday’s levels.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty FMCG and Nifty Pharma, which opened lower, also closed in the green. Nifty IT closed higher despite the tech-heavy NASDAQ 100 falling by 0.8% on Wednesday.

    Nifty 50closed at 16,478.10 (121.9, 0.7%), BSE Sensexclosed at 55,320.28 (427.8, 0.8%) while the broader Nifty 500closed at 13,977.10 (90.2, 0.7%)

    Market breadth is neutral. Of the 1,867 stocks traded today, 922 were on the uptick, and 889 were down.

    • Supreme Industries, Krishna Institute of Medical Sciences, Grindwell Norton, and Indigo Paintsare trading with higher volumesas compared to Wednesday.

    • Reliance Industries sees a long build-up in its Jun 30 futures series as its open interest rises 3.4% with put to call ratio at 0.68.

    • Shares of UPL reverse a 1% loss and gain nearly 2% after the company announces launch of new insecticides in India with patented active ingredient Flupyrimin.

    • Stocks like Aditya Birla Sun Life AMC, Aptus Value Housing Finance India, Birla Corporation, Symphony, and Amber Enterprises India are in the oversold zone according to the technical indicator relative strength index or RSI.

    • Dalmia Bharat expects cement demand to increase on the back of rising capital expenditure by the government and through PLI schemes. The company is committing to a capex of Rs 9,000 crore to expand manufacturing capacity over the next few years, to meet growing demand.

    • SBI Cards and Payment Services and One97 Communications (Paytm) fall in trade today after the Reserve Bank of India allows the linking of credit cards to UPI platforms. Analysts from Axis Securities expect this move to favor credit card issuers more as it would increase spending and boost credit-card usage in the long run.

    • Gujarat State Petronet and Nuvoco Vistas Corporation touch their 52-week lows of Rs 237.8 and Rs 282 respectively. While, Gujarat State Petronet trades lower for four days, Nuvoco Vistas Corporation falls for five consecutive days.

    • Tata Power's arm Tata Solar Power Systems commissions 450 megawatts dc capacity solar pant for Brookfield Renewable India. The project will produce over 800 gigawatt-hours of clean energy annually.

    • Strides Pharma Science is trading with more than four times its weekly average trading volume. Krishna Institute of Medical Sciences, Computer Age Management Services, United Breweries, and Amber EnterprisesIndia are trading at more than two times their weekly average trading volumes.

    • BOB Capital Markets maintains a ‘Buy’ rating on Polycab India with a target price of Rs 3,000, indicating an upside of 24%. The brokerage remains positive on the company’s prospects given its robust balance sheet, high growth in all its business segments, and expanding distribution network. The brokerage expects the company’s revenue to grow at a 15.1% CAGR over FY22-24.

    • Sugar exports increase 22.9% YoY to 8.6 million tonnes till May 2022 (the ongoing marketing year, ending September). Last month, the Centre capped sugar exports to 10 million tonnes to ensure domestic supply and keep a check on retail prices. Sugar stocks like Shree Renuka Sugars, EID Parry (India), Balrampur Chini Mills among others continue to fall in trade.

      Now, Massive oversupply seen in SUGAR by ISMA

      This higher production and now export restrictions would mean sugar prices might come down in domestic market

      Sugar stocks under pressure! https://t.co/f4X2Rm5AsF

      — Yatin Mota (@YatinMota) June 8, 2022
    • Deepak Nitrite touches a 52-week low after reports emerge of the Gujarat Government issuing a closure notice to the company. This is in connection to the fire incident at the Nandeswari plant.

    • Metals stocks like JSW Steel, Tata Steel, Vedanta, Hindalco Industries, and Jindal Steel & Power, among others are falling in trade. The broader sectoral index Nifty Metal is also trading in the red.

    • Coal India floats their maiden international competitive bidding e-tender, seeking bids for the import of 2.41 million tonnes of coal. The coal is being sourced on behalf of the state generating companies and independent power plants for the July-September period of the current fiscal year.

    • LIC drops to a new all-time low today after another decline of 0.95%.

    • Vedanta pledges a 5.77% stake in Hindustan Zinc for a term loan of Rs 8,000 crore. The company’s earlier pledge of a 14.82% stake in Hindustan Zinc to secure a term loan facility of Rs 10,000 crore has been released.

    • Shares of MRPL gained nearly 5%, on course to rise for the 5th consecutive day while ONGC gained more than 2% in a weak market. Oil India went up 7% whereas BPCL and HPCL declined. This rise comes amid increase in brent crude prices going above $124 per barrel and WTI crude prices above $122 per barrel.

    • Paints stocks like Asian Paints, Berger Paints, Kansai Nerolac, and Shalimar Paints, among others are falling in trade as crude prices increase.

    • Indian rupee falls by 4 paise to Rs 77.78 against the dollar in early trading today.

    • India’s coal production rises 34% YoY to 71.3 million tonnes in May 2022, according to the provisional data released by the Ministry of Coal. Coal India, and Singareni Collieries’ coal production increases 30% and 11% YoY, respectively. 23 out of 37 coal productive mines produced more than 100% coal.

    Riding High:

    Largecap and midcap gainers today include Oil India Ltd. (297.30, 6.16%), Container Corporation of India Ltd. (656.55, 5.53%) and Biocon Ltd. (337.15, 5.18%).

    Downers:

    Largecap and midcap losers today include Tata Steel Ltd. (1,044.85, -3.86%), Vedanta Ltd. (302.90, -3.30%) and Au Small Finance Bank Ltd. (613.35, -2.52%).

    Volume Shockers

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

    Top high volume gainers on BSE included PNB Housing Finance Ltd. (397.45, 15.14%), Tata Teleservices (Maharashtra) Ltd. (127.75, 9.99%) and IFB Industries Ltd. (926.55, 9.21%).

    Top high volume losers on BSE were Swan Energy Ltd. (258.75, -6.05%), Strides Pharma Science Ltd. (314.70, -4.26%) and Garware Technical Fibres Ltd. (2,991.90, -3.37%).

    Gulf Oil Lubricants India Ltd. (422.85, -0.72%) was trading at 9.9 times of weekly average. Mas Financial Services Ltd. (539.35, 6.19%) and Amber Enterprises India Ltd. (2,326.25, -0.01%) were trading with volumes 4.8 and 4.6 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    1 stock made 52-week highs, while 12 stocks were underachievers and hit their52-week lows.

    Stock touching their year highs included - Oil India Ltd. (297.30, 6.16%).

    Stocks making new 52 weeks lows included - Gujarat State Petronet Ltd. (240.80, -0.60%) and Shree Cements Ltd. (19,198.00, -1.97%).

    13 stocks climbed above their 200 day SMA including Tata Teleservices (Maharashtra) Ltd. (127.75, 9.99%) and Suzlon Energy Ltd. (8.90, 9.20%). 9 stocks slipped below their 200 SMA including Au Small Finance Bank Ltd. (613.35, -2.52%) and Canara Bank (207.50, -1.61%).

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    T
    Trendlyne Marketwatch
    08 Jun 2022
    Market closes lower, RBI raises repo rate by 50 bps to 4.9%

    Market closes lower, RBI raises repo rate by 50 bps to 4.9%

    Trendlyne Analysis

    Nifty 50 closed in the red, with the Indian volatility index, India VIX, falling below 20%. The Reserve Bank of India (RBI) increased the repo rate by 50 bps to 4.9% as it withdrew its ‘accommodative stance’ for economic growth. RBI retained the FY23 real GDP growth estimate at 7.2%. The World Bank cut India’s economic growth forecast for the current fiscal to 7.5% from 8% due to rising inflation and supply chain disruptions. Most Asian indices closed higher, tracking the US indices, which closed in the green on Tuesday. US indices rose led by technology and energy stocks. S&P 500 rose close to 1% while Dow Jones increased by 0.8% on Tuesday. Brent crude oil edges higher and trades above $120 per barrel ahead of US oil inventories data release. European indices trade lower than Tuesday’s levels as investors assess the impact of aggressive monetary policy tightening on global economic growth.

    Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, tracking the benchmark index. Nifty Media and Nifty Realty closed higher than Tuesday’s levels. Nifty ITclosed in the green, tracking the tech-heavy NASDAQ 100, which rose 0.9% on Tuesday.

    Nifty 50 closed at 16,356.25 (-60.1, -0.4%), BSE Sensex closed at 54,892.49 (-214.9, -0.4%) while the broader Nifty 500 closed at 13,886.90 (-48.7, -0.4%)

    Market breadth is in the red. Of the 1,877 stocks traded today, 755 showed gains, and 1,079 showed losses.

    • GlaxoSmithKline Pharmaceuticals, Tube Investments of India, Bajaj Holdings & Investment, and ZF Commercial Vehicle Control Systems Indiaare trading with higher volumesas compared to Tuesday.

    • Deepak Nitrite sees a short build-up in its Jun 30 futures series as its open interest rises 16.2% with put to call ratio at 0.52.

    • Stocks like Mangalore Refinery And Petrochemicals, Praj Industries, Elgi Equipments, TCNS Clothing Co., Engineers India, TV18 Broadcast and PNB Housing Financerise by more than 5% in trade today.

    • Stocks like Aditya Birla Sun Life AMC, Symphony, Birla Corporation, and JK Cement, among others, are in the oversold zone according to the technical indicator relative strength index or RSI.

    • ICICI Direct maintains a “Buy’ rating on MM Forgings with a target price of Rs 1,250, indicating an upside of 40%. The brokerage expects robust revenue growth for the company on healthy demand growth, new product launches, and an increasing share of machining in its product profile. The brokerage estimates the company’s profit to grow at a 39% CAGR over FY22-24.

    • One97 Communications (Paytm) rises as Reserve Bank of India (RBI) proposes the linking of credit cards to UPI platforms. RuPay credit cards will be the first to be linked to UPI platforms.

    • Central Banks of the major economies have begun to respond to inflation by tightening their monetary policies. After the RBA, RBI also raised its policy rate by 50 bps.

      Monetary policy: RBI moves at speed. 50 bps now, total 90 in a month. Similar steps by global central banks to catch up.Australia did 50. US Fed 50 more likely next week.Let’s watch liquidity over next 9 months as US embarks on QT(quantitative tightening). And food, fuel, war!

      — Uday Kotak (@udaykotak) June 8, 2022
    • Sapphire Foods India and The New India Assurance Company touch their 52-week lows of Rs 932.5 and Rs 95.8 respectively. Both stocks are trading lower for the sixth consecutive day.

    • YES Bank gains as it initiates the process of setting up an alternate board in line with the YES Bank Reconstruction Scheme March 2020. The constitution of the alternate board will be recommended for approval to shareholders at the annual general meeting on July 15.

    • Biocon is trading lower and hit an over two-year low of Rs 312. In the past six weeks, shares of the pharmaceutical company is down 18% after it reported a 4% YoY fall in consolidated net profit to Rs 283.9 crore in Q4FY22.

    • Lupin is rising after it gets a tentative nod from the US FDA to market ivacaftor tablets. Ivacaftor is used to treat specific types of cystic fibrosis, a hereditary disease that causes problems with breathing, digestion, and reproduction in adults. The drug will be manufactured at its Nagpur facility. Ivacaftor tablets have an estimated annual sales of $109 million in the US, according to IQVIA.

    • PNB Housing Finance is trading with more than 14 times its weekly average trading volume. Engineers India, Sterlite Technologies, GlaxoSmithKline Pharmaceuticals, and Mangalore Refinery And Petrochemicalsare trading at more than three times their weekly average trading volumes.

    • ICICI Direct maintains a ‘Buy’ rating on TCI Express with a target price of Rs 2,000, indicating an upside of 21%. The brokerage remains positive on the company’s prospects due to its strong free cash generation, better margins from new businesses, and robust capital structure. The brokerage expects the company’s revenue to grow at a 20.8% CAGR over FY22-24

    • Reserve Bank of India increases repo rate by 50 bps to 4.9% as it withdraws its ‘accommodative stance’ for economic growth. Marginal Standing Facility (MSF) and bank rate stand at 5.15%.

    • Realty stocks like DLF, Macrotech Developers, Godrej Properties, Oberoi Realty, among others, are on the rise, after RBI doubles cooperative banks’ housing loan limits. The broader sectoral index Nifty Realty is also trading in the green.

      Realty Sector top gainers

      DLF, Sobha, Lodha at days high https://t.co/WvI3m1Fk2s

      — Yatin Mota (@YatinMota) June 8, 2022

    • Ramkrishna Forgings receives an export order worth Rs 115 crore from a European supplier for a new differential housing case business.

    • ITD Cementation is rising as it receives an order for a road construction project worth Rs 4,850 crore. The project involves the construction of a six-lane greenfield expressway in Uttar Pradesh on an EPC (Engineering, Procurement and Construction) basis.

    • Indian rupee appreciates 9 paise to Rs 77.69 against the US dollar in early trade today.

    • FMCG stocks like Hindustan Unilever, ITC, Nestle India, Britannia Industries, Tata Consumer Products, among others, are falling in trade due to rise in Covid cases. The broader sectoral index Nifty FMCG is also trading in the red.

      FMCG stocks fall amid rise in #Covid cases, surge in oil prices. #BQStocks

      Read all #stockmarket updates: https://t.co/0i3IwDkcYBpic.twitter.com/oRGoAanMNj

      — BQ Prime (@bqprime) June 8, 2022
    • Adani Power invests a total of over Rs 609 crore in Support Properties and Eternus Real Estate to acquire 100% stake in them. The companies will help Adani Power set up infrastrcuture facilities.

    • Zomato board will meet on June 17 to consider the acquisition of quick commerce company Blinkit, according to reports. The value of the final deal is yet to be finalized. Blinkit’s largest investor SoftBank Vision Fund will get a 4% stake in the company. The deal will involve a stock swap in the ratio of 1:10, where Zomato gets 10 shares of every one share of Blinkit.

    Riding High:

    Largecap and midcap gainers today include Macrotech Developers Ltd. (1,099.60, 5.07%), SBI Cards and Payment Services Ltd. (784.90, 2.65%) and Dalmia Bharat Ltd. (1,269.70, 2.58%).

    Downers:

    Largecap and midcap losers today include Gujarat Gas Ltd. (489.10, -7.03%), Deepak Nitrite Ltd. (1,798.45, -4.84%) and Polycab India Ltd. (2,314.10, -4.31%).

    Volume Shockers

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

    Top high volume gainers on BSE included TV18 Broadcast Ltd. (45.00, 10.84%), Mangalore Refinery And Petrochemicals Ltd. (118.00, 9.11%) and Dishman Carbogen Amcis Ltd. (129.40, 8.65%).

    Top high volume losers on BSE were Gujarat Gas Ltd. (489.10, -7.03%), Mas Financial Services Ltd. (507.90, -5.84%) and Polycab India Ltd. (2,314.10, -4.31%).

    PNB Housing Finance Ltd. (345.20, 4.59%) was trading at 18.1 times of weekly average. Engineers India Ltd. (62.90, 4.75%) and Hawkins Cookers Ltd. (5,211.00, 0.30%) were trading with volumes 11.9 and 8.9 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    1 stock took off, crossing 52-week highs, while 13 stocks tanked below their 52-week lows.

    Stock touching their year highs included - Mangalore Refinery And Petrochemicals Ltd. (118.00, 9.11%).

    Stocks making new 52 weeks lows included - Biocon Ltd. (320.55, 1.20%) and Birla Corporation Ltd. (856.75, -0.43%).

    11 stocks climbed above their 200 day SMA including Network 18 Media & Investments Ltd. (80.05, 5.47%) and Aster DM Healthcare Ltd. (193.55, 2.14%). 18 stocks slipped below their 200 SMA including Polycab India Ltd. (2,314.10, -4.31%) and Aegis Logistics Ltd. (216.90, -3.21%).

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