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

02 May 2022

Market closes lower, HDFC's Q4 net profit up 21.6% YoY to Rs 6,892.2 crore

Trendlyne Analysis

Indian indices recovered from the day’s low but closed lower on a volatile day of trade. Asian indices closed in the red, tracking the US indices which closed sharply lower on Friday. The tech-focused NASDAQ 100 fell over 4.4% led by Amazon which lost 14% on Friday post its Q4FY22 results announcement. Market volatility is expected to continue on the back of growth fears in China, looming rate hikes by the US Federal Reserve, and the geopolitical crisis in Europe. The US Fed is expected to raise its federal funds rate by half a percentage point on Wednesday this week. Crude oil falls amid concerns about slowing economic growth in China, the world’s top oil importer. India’s manufacturing Purchasing Managers’ Index (PMI) rises to 54.7 for April, up from 54.0 in March despite inflationary pressures. The pan-European STOXX 600 follows the global trend and trades lower as mixed earnings and geopolitical crisis keep investors on edge.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Media closed higher while Nifty Auto closed in the red. Nifty IT closed in the red, taking cues from the NASDAQ 100, which fell over 4.4% on Friday.

Nifty 50closed at 17,069.10 (-33.5, -0.2%), BSE Sensexclosed at 56,975.99 (-84.9, -0.2%) while the broader Nifty 500closed at 14,736.30 (-47.1, -0.3%)

Market breadth is highly negative. Of the 1,898 stocks traded today, 576 were gainers and 1,275 were losers.

Sundaram Finance, Eris Lifesciences, Aditya Birla Sun Life AMC, and Petronet LNG are trading with higher volumes as compared to Friday.
Welspun Corp wins order worth Rs 706 crore from Indian Oil Corporation (IOCL). The order is majorly for the construction of a large section of the Mundra Panipat Crude Oil Pipeline (P-25) project to increase the crude oil intake of IOCL’s Panipat refinery expansion project.
Inox Leisure’s Q4FY22 loss reduces to Rs 28.1 crore from Rs 93.7 crore a year ago and revenue rises 173.3% YoY to Rs 325.4 crore on the back of the easing of Covid-19 restrictions. Footfalls rise more than 3X YoY to 1.1 crore and occupancy rates rise by 14 percentage points YoY to 24%.
Housing Development Finance Corp's Q4FY22 profit rises 21.6% YoY to Rs 6,892.16 crore despite a 1.9% YoY fall in revenue to Rs 35,046.58 crore. The company's net interest income rises 14% YoY to Rs 4,601 crore. In FY22, profit rises 17.4% to Rs 24,042.13 crore. The board of directors recommends a dividend of Rs 30 per share for FY22.
IDBI Bank's Q4FY22 profit rises 16.8% YoY to Rs 734.7 crore despite a 20.8% YoY fall in revenue to Rs 5,532.9 crore. The company's expenditure reduces 3.6% YoY to Rs 3,969.6 crore. In FY22, the profit rise 79% YoY to Rs 2,439.
Eicher Motors' arm Royal Enfield’s April 2022 total wholesale numbers rise 17% YoY to 62,155 units and exports rise 84% YoY to 8,303 units. VE Commercial Vehicles' total wholesales, the company’s joint venture with Volvo rises 157.6% YoY to 5,525 units. Domestic wholesales rise 206.5% YoY to 4,766 units and export wholesales rise 20.1% to 650 units.
TVS Motor Company’s total wholesales grew 24% YoY to 2.9 lakh units with two-wheeler wholesales rising 24% to 2.8 lakh units. Motorcycle wholesales are up 4% to 1.4 lakh units and scooter wholesales jump 57% YoY to 1 lakh units. Domestic two-wheeler electric vehicle wholesales are up 3.6X times to 1,420 units.
Ajanta Pharma surges as its board will consider a bonus issue proposal in its upcoming board meeting on May 10.
Devyani International's Q4FY22 profit rises 22.1% YoY to Rs 75.94 crore and revenue rises 36% YoY to Rs 590.7 crore. The company adds 54 net new stores in Q4FY22 and adds 246 net new stores in FY22. In FY22, the company reports a profit of Rs 155.12 crore against a loss of Rs 62.99 crore in FY21.
Tata Chemicals is trading with more than 12 times its weekly average trading volume. Dixon Technologies (India), Solara Active Pharma Sciences, Suprajit Engineering, and Can Fin Homes are trading at more than four times their weekly average trading volumes.
Stocks like Cipla, MRF, Godrej Properties, and Deepak Nitrite, among others, are rising over the past week, ahead of their financial results.
Thyrocare Technologies is falling as its Q4FY22 profit falls 43.7% YoY to Rs 21.2 crore. Total revenue decreases by 11.8% YoY to Rs 132.7 crore as revenue from Covid-19 businesses fall 29% to Rs 16.13 crore. However, the company’s net profit rises 55.6% YoY in FY22 to Rs 176.14 crore and revenues increase by 21.9% to Rs 618.1 crore.
Bajaj Auto’s total wholesales fall 20% YoY to 3.1 lakh units with two-wheeler domestic wholesales falling 26% to 93,233 units. Three-wheelers' total wholesales are down 27% YoY to 29,063 units. Total exports also fall 18% to 2.08 lakh units.
Tata Chemicals is rising as its Q4FY22 profit jumps 39 times YoY to Rs 438.2 crore. Total Revenue increases by 32.8% YoY to Rs 3,586.9 crore on the back of strong domestic and US business revenue growth. Net profit jumps 4.9 times YoY in FY22 to Rs 1,257.6 crore and revenues increase by 23.4% to Rs 12,878 crore.
IT stocks like TCS, Infosys, Wipro, HCL Technologies, and Larsen & Toubro Infotech, among others, are falling in trade. All 10 constituents of Nifty IT are trading in the red
Hero MotoCorp’s total April 2022 wholesales rise 12.4% YoY to 4.19 lakh units as motorcycle wholesales increase by 15.7% to 3.92 lakh units. However, scooter wholesales fall 21.2% YoY to 25,995 units, and export wholesales decrease by 32.1% to 20,132 units.
Wipro’s Q4FY22 profit rises 4% QoQ to Rs 3,087.3 crore and revenues increase by 2.7% to Rs 21,362.8 crore. Operating profit margin falls 74 bps QoQ as employee benefits expenses rise 6% to Rs 12,130 crore. Net profit rises 12.6% YoY in FY22 to Rs 1,229.6 crore and revenues increase by 26.5% to Rs 81,373.2 crore.
Mahindra & Mahindra’s April 2022 total auto wholesales rise 25% YoY to 45,640 units and total farm equipment wholesales rise 49% YoY to 40,939 units. Domestic passenger vehicle wholesales rise 23% to 22,526 units and domestic commercial vehicle wholesales rise 23.4% YoY to 17,402 units.
Solara Active Pharma Sciences' Managing Director and Chief Executive Officer Rajender Juvvadi Rao tenders his resignation to pursue opportunities at Aurore Life Sciences. The resignation is effective from April 28, 2022
Tata Motor’s total April 2022 wholesales rise 74% YoY to 72,468 units and total domestic sales increase by 81% YoY to 71,467 units. Domestic commercial vehicle (CV) wholesales jump 2.1 times YoY to 29,880 units while CV exports fall 57% YoY to 958 units. Passenger vehicle (PV) wholesales rise 66% YoY in April 2022 to 41,587 units with electric PV wholesales jumping four times YoY to 2,322 units.
IndusInd Bank’s Q4FY22 net profit rises 51.2% YoY to Rs 1,400.6 crore and revenue rises 6.1% YoY to Rs 9,199.7 crore. Net interest income (NII) rises 13% YoY to Rs 3,985 crore and provisions fall 22% YoY to Rs 1,463 crore. Net interest margin (NIM) rises by 7 bps YoY to 4.2%.
Maruti Suzuki’s total wholesales fall marginally by 1.6% YoY to 1.57 lakh units with total passenger vehicle wholesales down 2.9% YoY to 1.52 lakh units. Mini car segment’s wholesales fall 22% to 22,655 units and mid-size compact car wholesales are down 19.9% to 1,756 units.
YES Bank logs a net profit of Rs 367 crore in Q4FY22 against a loss of Rs 3,787.75 crore in Q4FY21. Provisions fell 94.6% YoY to Rs 271 crore. Net interest income surges 84% YoY to Rs 1,819 crore. Asset quality improves with gross NPA falling 148 bps YoY to 13.93% and net NPA down 135 bps to 4.53%.

Riding High:

Largecap and midcap gainers today include Ajanta Pharma Ltd. (1,803.15, 4.77%), IndusInd Bank Ltd. (1,018.10, 4.04%) and Supreme Industries Ltd. (2,015.80, 3.54%).

Downers:

Largecap and midcap losers today include Dixon Technologies (India) Ltd. (3,994.85, -9.13%), Max Healthcare Institute Ltd. (391.45, -5.41%) and Aarti Industries Ltd. (847.65, -4.54%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Tata Chemicals Ltd. (1,033.00, 9.88%), Can Fin Homes Ltd. (642.40, 8.49%) and GHCL Ltd. (657.45, 6.17%).

Top high volume losers on BSE were Solara Active Pharma Sciences Ltd. (511.35, -19.99%), Dixon Technologies (India) Ltd. (3,994.85, -9.13%) and Zensar Technologies Ltd. (307.50, -4.83%).

India Tourism Development Corporation Ltd. (378.10, 1.34%) was trading at 8.0 times of weekly average. Sundaram Clayton Ltd. (3,874.05, 1.63%) and Amber Enterprises India Ltd. (3,915.50, 5.55%) were trading with volumes 5.6 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks took off, crossing 52-week highs, while 6 stocks hit their 52-week lows.

Stocks touching their year highs included - Crisil Ltd. (3,672.75, -0.32%), GHCL Ltd. (657.45, 6.17%) and Indian Hotels Company Ltd. (261.70, 2.03%).

Stocks making new 52 weeks lows included - Rallis India Ltd. (226.40, -3.45%) and Sanofi India Ltd. (6,940.70, -0.49%).

12 stocks climbed above their 200 day SMA including Can Fin Homes Ltd. (642.40, 8.49%) and Kaveri Seed Company Ltd. (569.60, 5.64%). 29 stocks slipped below their 200 SMA including Just Dial Ltd. (816.80, -4.91%) and Astral Ltd. (2,065.95, -4.06%).

Trendlyne Marketwatch

29 Apr 2022

Market closes lower, Maruti Suzuki India's Q4 net profit rises 57.7% YoY

Trendlyne Analysis

Nifty 50 closed in the red amid high selling pressure towards the end of the trading session to fall over 1% from the day’s peak. Most Asian indices closed in the green as US indices closed sharply higher on Thursday led by the tech-heavy NASDAQ 100. Meta’s Q4 results lifted the US market but lackluster results by Amazon sent the stock over 9% lower during after-market hours trading. Market volatility is expected to continue on the back of China’s growth fears, looming US rate hikes, and the geopolitical crisis in Europe. The US dollar continues to gain amid prospect of aggressive rate hikes in the US. Crude oil trades at elevated levels as the geopolitical crisis in Europe continues to disrupt its supply chain. European indices join the global trend and trade higher amid mixed earnings reports.

Nifty Smallcap 100 and Nifty Next 50 closed in the red, following the benchmark index. Nifty Realty and Nifty Auto closed lower than Thursday’s levels. Nifty IT closed in the red, tracking the NASDAQ 100 futures, which is trading lower.

Nifty 50closed at 17,102.55 (-142.5, -0.8%), BSE Sensexclosed at 57,060.87 (-460.2, -0.8%) while the broader Nifty 500closed at 14,783.35 (-130.6, -0.9%)

Market breadth is moving down. Of the 1,866 stocks traded today, 561 were on the uptick, and 1,268 were down.

Shilpa Medicare,Kansai Nerolac Paints, Westlife Development, and Ajanta Pharmaare trading with higher volumesas compared to Thursday.
UltraTech Cement’s Q4FY22 net profit rises 47.3% YoY to Rs 2,613.7 crore on reversal of provision of income tax of Rs 323.35 crore and revenue rises 9.6% YoY to Rs 15,859.7 crore. However, profit before tax falls 13.9% YoY to 2,275.6 crore. EBITDA falls 16% YoY to Rs 3,165 as power and fuel costs rise 46.7% YoY to Rs 3,594.8 crore.
Maruti Suzuki India's Q4FY22 net profit rises 57.7% YoY to Rs 1,839 crore and revenues rise 11% YoY to Rs 25,514 crore. Sales volume improves sequentially by 13.5% to 4,88,830 units whereas it was down 0.7% YoY in Q4FY22. Higher sales realization primarily drive the topline growth in Q4FY22
Gillette India’s Q4FY22 net profit rises marginally by 0.3% YoY to Rs 40.7 crore with revenue increasing 5.5% to Rs 566.5 crore. However, the company’s total expenses rose 11.3% YoY to Rs 457.8 crore with the cost of materials surging 131% to Rs 159.3 crore.
Rainbow Childrens Medicare’s Rs 1,580.8-crore IPO gets bids for 12.4X of the available 2.1 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 1.4X of the available 1 crore shares on offer.
Zomato slumps below its lower end of IPO price band and touches an all-time low of Rs 71.4 on the bourses. The stock is falling for three consecutive sessions.
Axis Securities maintains a ‘Buy’ rating on Trent with a target price of Rs 1,350, indicating an upside of 10%. The brokerage believes that the company is well-placed to grow in the post-Covid-19 era, led by its success in the Westside apparel store chain, the ramp-up of Zudio apparel stores, sustainable margins, and a healthy balance sheet.
Schaeffler India and Crisil touch an all-time high of Rs 2,441.5 and Rs 3,785 respectively. Both stocks are rising for three consecutive sessions.
Stocks like Asian Paints, eClerx Services, United Breweries, and Sunteck Realty, among others, crossed their 100-day simple moving average (SMA) today.
General Insurance Corporation of India is trading with more than 39 times its weekly average trading volume. Prism Johnson, Shriram City Union Finance, Varroc Engineering, and Eris Lifesciences are trading at more than seven times their weekly average trading volumes.
IndiaMART InterMESH’s Q4FY22 net profit rises 3% YoY to Rs 57 crore and revenue rises 22% YoY to Rs 231 crore. EBITDA margin falls by 20 percentage points to 28% as manpower costs increase by 53% YoY to Rs 87 crore.
Genus Power Infrastructures is rising as it receives an order worth Rs 828.5 crore from state utility. The project will entail designing an advanced metering infrastructure system with supply, installation, and commissioning of 10 lakh smart prepaid meters.
Stocks like Nestle India, ACC, Angel One, and Tata Elxsi, among others, are outperforming the Nifty 50 index over the week, post results
Vedanta rises despite reporting a fall in Q4FY22 net profit by 4.8% YoY to Rs 7,261 crore. However, revenue from operations rises 41% YoY to Rs 39,342 crore because of higher sales volumes and an increase in commodity prices. EBITDA for the company jumps 51% YoY to Rs 13,768 crore with EBITDA margin rising 300 bps to 39%. The board recommends an interim dividend of Rs 31.5 per share with May 9 as the record date.
Shriram Transport Finance surges as its Q4FY22 net profit rises 44.2% YoY to Rs 1,091.2 crore and revenue rises 13.1% YoY to Rs 5,087.6 crore. Net Interest Income (NII) rises 22.16% YoY to Rs 2,627.8 crore and AUM (assets under management) rises 8.4% YoY to Rs 1.27 lakh crore.
Mphasis's Q4FY22 profit rises 9.6% QoQ to Rs 392.1 crore as the revenue rises 6.6% QoQ to Rs 3,316.8 crore. In FY22, the company's profit rises 17.6% YoY to Rs 1,430.9 crore.
Fineotex is falling despite its Q4FY22 profit rising 46% YoY to Rs 16.5 crore and revenues increasing by 56% to Rs 121.6 crore. India business revenues double YoY in Q4FY22 to Rs 101.7 crore. Fineotex’s FY22 revenue rises 58% YoY to Rs 373.7 crore and net profit increases by 29.4% to Rs 55.1 crore.
Ambuja Cements' Q4FY22 net profit declines 30.4% YoY to Rs 658.9 crore on rising fuel costs. Revenue rises 2.3% YoY to Rs 7,990.3 crore on the back of sales volume rising 3.4% YoY to 7.5 million tonnes per annum. EBITDA margin falls by 680 bps YoY to 20.5% as power and fuel expenses rise 34.5% YoY to Rs 2,072 crore.
Varroc Engineering surges as it signs a securities purchase agreement with a French firm Compagnie Plastic Omnium SE to divest its four-wheeler lighting systems operations in the US and Europe. The value of the transaction is 600 million euros. The company plans to divest its operations in the USA, Brazil, Mexico, Poland, Czech Republic, Germany, Turkey, and Morocco.
Biocon’s Q4FY22 net profit falls 4% YoY to Rs 283.9 crore despite a revenue increase of 20.9% to Rs 2,746 crore. Raw material costs rise 21% YoY to Rs 747.8 crore in Q4FY22. Generics segment revenue grows 26% YoY to Rs 717 crore on the back of new product launches in the US.
Axis Bank’s Q4FY22 net profit rises 54% YoY to Rs 4,118 crore with an increase in net interest income by 17% YoY to Rs 8,815 crore. Provisions fell 54% YoY to Rs 987 crore. Total advances grew 15% YoY to Rs 7.07 lakh crore with retail loans rising 21% YoY to Rs 4 lakh crore. The bank's asset quality improved with gross NPA falling 88 bps YoY to 2.8% and net NPA by 32 bps to 0.73%.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (130.15, 9.74%), Shriram Transport Finance Company Ltd. (1,202.05, 5.28%) and Max Healthcare Institute Ltd. (413.85, 4.26%).

Downers:

Largecap and midcap losers today include Axis Bank Ltd. (728.60, -6.57%), Indraprastha Gas Ltd. (352.40, -6.39%) and Bajaj Holdings & Investment Ltd. (5,169.45, -6.33%).

Volume Shockers

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

Top high volume gainers on BSE included General Insurance Corporation of India (130.15, 9.74%), Varroc Engineering Ltd. (444.45, 7.99%) and Shriram Transport Finance Company Ltd. (1,202.05, 5.28%).

Top high volume losers on BSE were Can Fin Homes Ltd. (592.15, -6.95%), Axis Bank Ltd. (728.60, -6.57%) and Gujarat Gas Ltd. (482.40, -5.80%).

Gillette India Ltd. (5,265.20, 3.18%) was trading at 22.4 times of weekly average. Prism Johnson Ltd. (114.10, 0.88%) and Shriram City Union Finance Ltd. (1,708.60, 3.53%) were trading with volumes 17.7 and 17.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52-week highs, while 1 stock was an underachiever and hit its 52-week lows.

Stocks touching their year highs included - Crisil Ltd. (3,684.45, 2.67%), GHCL Ltd. (619.25, 1.05%) and Mangalore Refinery And Petrochemicals Ltd. (73.75, 6.88%).

Stock making new 52 weeks lows included - Zomato Ltd. (71.75, -2.84%).

13 stocks climbed above their 200 day SMA including Laurus Labs Ltd. (583.35, 2.00%) and United Breweries Ltd. (1,585.90, 1.01%). 26 stocks slipped below their 200 SMA including Can Fin Homes Ltd. (592.15, -6.95%) and Axis Bank Ltd. (728.60, -6.57%).

Trendlyne Marketwatch

28 Apr 2022

Market closes higher, Campus Activewear’s IPO gets bids for 17.9X of the total shares on offer

Trendlyne Analysis

Nifty 50 closed in the green with the Indian volatility index, India VIX falling below 20%. Most Asian indices closed higher as China pledged further economic support amid growing worries about the effect of Covid-19 lockdowns in parts of China. Japan’s central bank is expected to keep its monetary settings steady when it hands down its monetary policy later today, even as the yen weakened to a two-decade low against the US dollar. On Wednesday, US indices closed marginally higher on a volatile day of trade. The markets are expected to remain volatile as investors monitor the latest earnings, rising inflation level, and prospect of aggressive monetary policy by the US Fed. Crude oil trades at over $100 per barrel as the geopolitical crisis in Europe continues to disrupt its supply chain. European indices trade in the green as corporate results boost investor sentiments.

Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Pharma and Nifty Energy closed higher than Wednesday’s levels. Nifty IT closed in the green, taking cues from the tech-heavy NASDAQ 100 futures, which are trading higher.

Nifty 50closed at 17,245.05 (206.7, 1.2%), BSE Sensexclosed at 57,521.06 (701.7, 1.2%) while the broader Nifty 500closed at 14,913.90 (157.9, 1.1%)

Market breadth is in the red. Of the 1,875 stocks traded today, 843 showed gains, and 991 showed losses.

Bayer Cropscience, Vardhman Textiles, Fortis Healthcare, and Varun Beverages are trading with higher volumesas compared to Thursday.
Rainbow Childrens Medicare’s Rs 1,580.85-crore IPO gets bids for 55% of the available 2.05 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 82% of the available 1.01 crore shares on offer.
Laurus Labs’ Q4FY22 net profit falls 22% YoY to Rs 234.3 crore and revenues are flat at Rs 1,426.1 crore. Total expenses rise 10.8% YoY to Rs 1,124.4 crore led by changes in inventories of finished goods, work-in-progress, and stock-in-trade.
FMCG stocks like Hindustan Unilever, Tata Consumer Products, Dabur India, ITC and Varun Beverages among others are rising in trade. The broader sectoral index Nifty FMCG is also trading higher today.
Delivery volumes of stocks like Maruti Suzuki India, Alembic Pharmaceuticals, Havells India, and Deepak Nitrite, among others are rising ahead of their Q4FY22 results to be announced over the next few weeks.
Campus Activewear’s Rs 1,400-crore IPO gets bids for 51.7X of the available 3.36 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 7.7X of the available 1.6 crore shares on offer.
Cyient to acquire Singapore-based firm Grit Consulting. This is an all-cash deal worth Rs 284 crore, according to reports. The acquisition will help Cyient in expanding its consulting capabilities in asset-driven industries like metals and mining.
Apcotex Industries falls despite reporting a 37% YoY rise in its Q4FY22 net profits at Rs 31 crore. Its quarterly revenues rise 48.4% YoY to Rs 279 crore backed by over 24% sales volumes growth and higher exports.
Varun Beverages’ Q4FY22 net profit rises 96.7% YoY to Rs 254.2 crore and revenues increase by 26.4% to 2,867.5 crores. Net profit increases sharply on the back of improvement in margins, reduction in finance costs, and higher profitability from international operations. Total sales volumes rise 18.7% YoY in Q4FY22 to 17.97 crore driven by strong demand across geographies.
JM Financialis trading with more than 18 times its weekly average trading volume. Vaibhav Global, TV18 Broadcast, TTK Prestige, and Rajesh Exports are trading at more than four times their weekly average trading volumes.
Trent posts a loss of Rs 20.8 crore in Q4FY22 compared to a Rs 17.4 crore profit a year ago as high input costs hurt margins. However, revenue rises 41.2% YoY to Rs 1,372.9 crore on recovery in footfalls. EBITDA margin falls by 480bps YoY to 13% as employee expenses rise 48% YoY
Mahindra Lifespace Developers rises after it announces its Q4FY22 results. Net profit for Q4FY22 is Rs 137.6 crore as against a loss of Rs 27.7 crore in Q4FY21. Total revenue surges 3X YoY to Rs 161.7 crore. Residential pre-sales grew 50% to Rs 1,028 crore while industrial leasing leaps 130% to Rs. 298 crore in FY22.
Angel One outperforms ICICI Securities by 17.7 percentage points in QoQ net profit growth. However, ICICI Securities outperforms Angel One on 11 out of 16 fundamental parameters like annual return on equity, price-to-earnings ratio, price-to-book value, among others, according to Trendlyne’s Stock Comparison tool.
Indian Energy Exchange is falling despite its Q4FY22 profit rising 43.62% YoY to Rs 88.4 crore. The company's revenue rises 28% YoY to Rs 128.4 crore. In FY22, the profit rises 50.2% YoY to Rs 308.6 crore.
Media stocks like Zee Entertainment, Sun TV Network, TV18 Broadcast, Network 18 Media & Investments and Saregama India are falling. The broader sectoral index i.e. Nifty Media is also trading in red today.
ICICI Securities downgrades its rating on Sanofi to ‘Hold’ from ‘Buy’ with a target price of Rs 7,740, indicating an upside of 11%. The brokerage downgrades its rating as the company’s Q4FY22 revenue fell 2% YoY to Rs 731.4 crore but retains a positive outlook as Sanofi has a strong brand recall in anti-diabetic therapies in India.
Persistent Systems’ Q4FY22 net profit rises 14% QoQ to Rs 201 crore and revenue by 10.3% QoQ to Rs 1,679.9 crore, driven by a 14.6% QoQ rise in services revenue. Operating profit margin rises by 34 bps QoQ to 17.17% and attrition falls by 30 bps to 26.6%.
Bajaj Auto's Q4FY22 profit rises 10.28% YoY to Rs 1,469 crore despite a 6.9% YoY fall in revenue to Rs 8263.7 crore. The increase in profit factors in the reduced expenses on raw materials among others. In FY22, the company's profit rises 10% YoY to Rs 5,019 crore.
Network 18 and TV18 Broadcast slump after Reliance Industries announces a strategic partnership with Bodhi Tree Systems to form the largest TV and digital streaming platform in India. Bodhi Tree Systems will invest Rs 13,500 crore while Reliance Industries’ subsidiary will invest an additional Rs 1,645 crore in Viacom 18. Network 18 is TV18 Broadcast's holding company and TV18 Broadcast is the controlling partner in Viacom 18.
HDFC AMC's Q4FY22 net profit rises 8.7% YoY to Rs 343.5 crore and revenues increase by 6.5% to Rs 580.93 crore. Systematic investment plan (SIP) flows rise 33.7% YoY to Rs 12,300 crore in Q4FY22. The company’s FY22 net profit rises 5.1% YoY to Rs 1,393.1 crore and revenues increases by 10.5% to Rs 2,433.2 crore.
Indian Hotels' posts a profit of Rs 71.5 crore in Q4FY22 compared to a Rs 97.7 crore loss a year ago. Revenue rises 52.4% YoY to Rs 954.8 crore helped by a recovery in leisure and business travel after easing of restrictions on travel and movement.
Hindustan Unilever’s Q4FY22 net profit rises 5.3% YoY to Rs 2,307 crore with total revenue rising 10.2% YoY to Rs 13,846 crore. Home care segment revenue grew 23.6% to Rs 4,743 crore. Total expenses for the company surge 11.5% YoY as the cost of materials consumed rises 18% to Rs 4,501 crore. As a result, gross margins fell 300 bps to 49.5%.

Riding High:

Largecap and midcap gainers today include Coromandel International Ltd. (899.15, 6.08%), Indian Hotels Company Ltd. (247.00, 4.77%) and Hindustan Unilever Ltd. (2,241.85, 4.51%).

Downers:

Largecap and midcap losers today include Adani Power Ltd. (284.25, -5.00%), Dr. Lal Pathlabs Ltd. (2,681.20, -3.78%) and JSW Energy Ltd. (330.40, -3.48%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Godrej Agrovet Ltd. (570.15, 11.05%), JM Financial Ltd. (75.65, 10.92%) and TTK Prestige Ltd. (853.20, 9.73%).

Top high volume losers on BSE were TV18 Broadcast Ltd. (61.80, -17.76%), La Opala RG Ltd. (315.05, -4.28%) and Bajaj Auto Ltd. (3,834.40, -1.82%).

KIOCL Ltd. (230.05, 7.02%) was trading at 13.7 times of weekly average. Vaibhav Global Ltd. (475.00, 5.52%) and Coromandel International Ltd. (899.15, 6.08%) were trading with volumes 11.1 and 10.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Adani Power Ltd. (284.25, -5.00%), Crisil Ltd. (3,588.70, 7.32%) and DCM Shriram Ltd. (1,191.90, 4.38%).

Stock making new 52 weeks lows included - Zomato Ltd. (73.85, -2.64%).

21 stocks climbed above their 200 day SMA including Godrej Agrovet Ltd. (570.15, 11.05%) and United Breweries Ltd. (1,570.10, 4.23%). 15 stocks slipped below their 200 SMA including Bombay Burmah Trading Corporation Ltd. (1,001.30, -8.67%) and La Opala RG Ltd. (315.05, -4.28%).

Trendlyne Marketwatch

27 Apr 2022

Market closes lower, KPIT Tech Q4FY22 profit rises 14.6% QoQ

Trendlyne Analysis

Nifty 50 closed in the red with the Indian volatility index, India VIX rising above 20%. Asian indices closed lower as investors remain anxious about the effect of Covid-19 lockdowns in parts of China. However, China’s central bank said it would support its economy as worries grew about Beijing’s insistence on continuing with a “Zero-Covid” policy that would harm domestic and global growth. All US indices closed sharply lower on Tuesday led by the tech-heavy NASDAQ 100, which closed over 3.8% lower. Stock markets remain jittery amid mixed earnings, rising inflation, and prospect of aggressive monetary policy by the US Fed. Oil prices rose after Russia said it would cut natural gas supply to Eastern Europe. The pan-European index, STOXX 600 trades lower, extending its losses for a fourth straight day as investors monitor earnings and natural gas supply chain disruption in Europe.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower, following the benchmark index. Nifty Bank and Nifty Auto closed lower than Tuesday’s levels. Nifty IT also closed in the red, tracking the tech-focused NASDAQ 100, which closed sharply lower on Tuesday.

Nifty 50closed at 17,038.40 (-162.4, -0.9%),BSE Sensexclosed at 56,819.39 (-537.2, -0.9%) while the broader Nifty 500closed at 14,756.00 (-142.4, -1.0%)

Market breadth is overwhelmingly negative. Of the 1,864 stocks traded today, 507 were gainers and 1,329 were losers.

Endurance Technologies,V Mart Retail, Procter & Gamble Hygiene & Healthcare, and Krishna Institute of Medical Sciences are trading with higher volumesas compared to Tuesday.
Stocks like Adani Enterprises, Havells India, Ambuja Cements, NLC India, and Mahindra & Mahindra, are in the overbought zone according to the technical indicator relative strength index or RSI.
Syngene International's Q4FY22 profit rises 7% YoY to Rs 148 crore and revenue rises 14% YoY to Rs 773 crore. The growth is result of the company catching up on projects delayed by supply chain issues and other Covid-related disruptions. In FY22, the company's profit rises 10% YoY to Rs 421 crore.
HDFC Securities initiates a 'BUY' on Mahindra & Mahindra with a target price upside of 17.8%. The brokerage is positive on the auto major as it is witnessing a strong traction in its utility vehicle segment especially for new launches like XUV 700. HDFC Sec also expects the sales volumes for M&M's tractor segment to revive in FY23.
Rainbow Childrens Medicare’s Rs 1,580.85-crore IPO gets bids for 29% of the available 2.05 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 48% of the available 1.01 crore shares on offer. The public issue comprises of a fresh issue of equity shares of Rs 280 crore and an offer for sale of up to Rs 1,300.85 crore.
Campus Activewear’s Rs 1,400-crore IPO gets bids for 3.21X of the available 3.36 crore shares on offer on second day of bidding. The retail investor quota gets bids for 3.94X of the available 1.6 crore shares on offer.
Public sector bank stocks like State Bank of India, Bank of Baroda, and Canara Bank, among others, are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in the red.
KPIT Technologies Q4FY22 net profit rises 14.6% QoQ to Rs 80.5 crore and revenue rises 5.3% QoQ to Rs 664.8 crore. The growth in revenues is primarily due to the Americas region with a 10.1% QoQ rise in revenues to Rs 250.6 crore. However, employee benefits expense rises 57.1% QoQ.
Mahindra Logistics is trading with more than 32 times its weekly average trading volume. KPIT Technologies, Vardhman Textiles, UTI Asset Management Company, and Dilip Buildcon are trading at more than four times their weekly average trading volumes.
CARE Ratings slumps in trade after Managing Director and CEO Ajay Mahajan resigns citing personal reasons. His resignation is effective from the closure of business hours on May 31. Executive Director Mehul Pandya will be the interim CEO from June 1 onwards.
NTPC signs a memorandum of understanding (MoU) with Energy Vault Holdings for the deployment of gravity-based energy storage technology. The objective of the MoU is to form a long-term partnership with Energy Vault for the deployment of Energy Vault’s EVx, a gravity-based energy storage technology and software solutions, based on the outcome of a joint feasibility study.
Axis Securities maintains a ‘Buy’ rating on Cyient with a target price of Rs 1,000, indicating an upside of 11%. The brokerage believes the company’s recent acquisition of Citec will provide profitable growth in the coming quarters. The brokerage remains positive on the company’s order pipeline, which has multiple long-term contracts in the field of ER&D (Engineering Research & Development).
Tata Consultancy Services, HDFC Bank, ACC, and Hathway Cable & Datacom, among others, are outperforming the Nifty 50 index over the past week, post Q4FY22 results.
Life Insurance Corporation of India (LIC) IPO's price band is set at Rs 902-949 per share. The Centre will now sell only up to 3.5% stake in the IPO instead of the earlier 5%. The Centre expects to receive up to Rs 21,000 crore from the share issue. The IPO opens on May 4 and closes on May 9.
Omaxe surges after securing funding of Rs 440 crore from Varde Partners, a global alternative investment firm. The company will deploy the funds for the acceleration of construction and expansion and delivery of its projects.
United Breweries’ Q4FY22 profit rises 61% YoY to Rs 163.4 crore and revenues increase by 1.3% to Rs 3,664.7 crore. Net profit rises despite a marginal increase in revenue as the company reported an exceptional item loss of Rs 62.2 crore in Q4FY21.
Schaeffler India rises as its Q4FY22 net profit rises 48.4% YoY to Rs 207.1 crore and revenue rises 18.6% YoY to Rs 1,587.6 crore driven by growth in the mobility components segment.
AU Small Finance Bank’s Q4FY22 net profit rises 105% YoY to Rs 346 crore and revenue rises 26% YoY to Rs 1,978.4 crore on higher interest margins. Net interest income rises 42.8% YoY to Rs 937 crore and net interest margin rises by 60 bps YoY to 6.3%. The lender’s net NPAs (non-performing assets) decline by 170 bps YoY to 0.5%.
Bajaj Finance’s Q4FY22 net profit rises 79.6% YoY to Rs 2,420 crore and revenue rises 25.9% YoY to Rs 8,630.3 crore. Net interest income grows 30% YoY to Rs 6,068 crore and fee income rises 51% YoY to Rs 1,164 crore. Total AUM (assets under management) for the NBFC rises 29% YoY to Rs 1.97 lakh crore.
Tata Coffee’s net profit rises 12% YoY to Rs 64.28 crore in Q4FY22 and revenues increase by 8% to Rs 663.4 crore. Net profit rises despite a 31.2% increase in cost of raw materials to Rs 256.4 crores due to changes in inventories of finished goods, work in progress, and stock-in-trade.
Rainbow Childrens Medicare raises Rs 470 crore from anchor investors by selling 86.63 lakh equity shares at Rs 542 per share. Investors include Government of Singapore, Monetary Authority of Singapore, IIFL Special Opportunities Fund, Bajaj Allianz Life Insurance, HDFC Life Insurance, SBI Mutual Fund (MF), HSBC, Nippon India, among others.
Wipro to acquire Rizing Intermediate Holdings, a global SAP consulting firm to help expand its SAP consulting operations. According to reports, the value of the deal is $540 million. The deal is expected to help Wipro expand its services in oil and gas, utilities, manufacturing, and consumer industries. The acquisition is subject to regulatory approvals and the transaction will close before June 30.

Riding High:

Largecap and midcap gainers today include Endurance Technologies Ltd. (1,239.05, 6.54%), Ruchi Soya Industries Ltd. (1,103.45, 6.53%) and Adani Power Ltd. (299.20, 4.74%).

Downers:

Largecap and midcap losers today include Bajaj Finance Ltd. (6,714.10, -7.27%), MindTree Ltd. (3,538.35, -4.35%) and Trent Ltd. (1,225.00, -4.29%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Alok Industries Ltd. (27.75, 16.35%), KPIT Technologies Ltd. (586.55, 12.50%) and IIFL Finance Ltd. (388.25, 9.83%).

Top high volume losers on BSE were UTI Asset Management Company Ltd. (860.05, -7.51%), Bajaj Finance Ltd. (6714.10, -7.27%) and Krishna Institute of Medical Sciences Ltd. (1,295.70, -3.13%).

Mahindra Logistics Ltd. (517.15, 8.74%) was trading at 40.9 times of weekly average. TTK Prestige Ltd. (777.55, -0.87%) and Schaeffler India Ltd. (2,234.90, 6.48%) were trading with volumes 11.4 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks hit their 52-week highs, while 2 stocks hit their 52-week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (887.30, -2.44%), Adani Power Ltd. (299.20, 4.74%) and EID Parry (India) Ltd. (522.45, -3.81%).

Stocks making new 52 weeks lows included - Infibeam Avenues Ltd. (17.50, -3.31%) and Zomato Ltd. (75.85, -4.71%).

14 stocks climbed above their 200 day SMA including Alok Industries Ltd. (27.75, 16.35%) and Just Dial Ltd. (914.50, 6.83%). 19 stocks slipped below their 200 SMA including Bajaj Finance Ltd. (6,714.10, -7.27%) and Hindustan Petroleum Corporation Ltd. (281.85, -3.64%).

Trendlyne Marketwatch

26 Apr 2022

Market closes higher, Campus Activewear’s Rs 1,400-crore IPO gets bids for 1.24X of total shares on offer

Trendlyne Analysis

Nifty 50 closed in the green with the Indian volatility index falling by 9.5%. Asian shares closed higher after all major indices closed in the red on Monday. US indices recovered their losses towards the end of the trading session to close higher on Monday after Twitter’s board accepted Elon Musk’s $44 billion cash offer to take the company private. Global sentiment remains fragile on the back of China’s economic slowdown, high inflation level, and prospect of aggressive monetary policy tightening by the Fed. Crude oil continues to fall as investors assess the impact of China’s Covid-19 resurgence on the outlook for global demand. European indices trade higher, following the global trend amid mixed cues.

All sectoral indices closed in the green. Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Metal, which lost 2.85% on Monday, closed 1.28% higher. Nifty IT also closed in the green, tracking the tech-heavy NASDAQ 100, which closed 1.32% higher on Monday.

Nifty 50closed at 17,200.80 (246.9, 1.5%), BSE Sensexclosed at 57,356.61 (776.7, 1.4%) while the broader Nifty 500closed at 14,898.35 (225.4, 1.5%)

Market breadth is in the green. Of the 1,872 stocks traded today, 1,102 were in the positive territory and 733 were negative.

AIA Engineering, IFB Industries, Thyrocare Technologies, and Sanofi India are trading with higher volumes as compared to Monday.
Hindustan Aeronautics and Bharat Electronics rise as they ink a pact to co-produce and develop ‘Long Range Dual Bank IRST (Infra-Red Search & Track System)’ for Sukhoi 30 MKI. This development of high-end strategic technology for the air fighter is a part of the ‘Make in India’ initiative.
PSU Bank stocks like Canara Bank, State Bank of India, Bank of Baroda, and Indian Bank, among others, are rising in trade. The broader sectoral index Nifty PSU Bank is also trading in the green.
Atul is falling as the company's Q4FY22 profit falls 22.7% YoY to Rs 136.56 crore due to a rise in expenses of materials, power, fuel, and water, despite a 22.8% YoY rise in revenue to Rs 1,370.42 crore. In FY22, the company's profit falls 8.4% YoY to Rs 604.74 crore.
IT stocks like Wipro, Infosys, Tech Mahindra, and MphasiS, among others, are in the oversold zone, according to the technical indicator relative strength index or RSI.
Auto stocks like Ashok Leyland, TVS Motor, Bajaj Auto, and Hero MotoCorp, among others are rising in trade. The broader sectoral index Nifty Auto is also trading in green.
Campus Activewear’s Rs 1,400-crore IPO gets bids for 1.24X of the available 3.36 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 1.88X of the available 1.6 crore shares on offer. The issue is entirely an offer for sale of Rs 1,400 crore.
ACC, Angel One, Cyient, and Mahindra CIE Automotive, among others, are rising over the past week after announcing their Q4FY22 results
Shriram Properties signs an MoU with LOGOS for a sale of 90 acres of land in Shriram Grand City, Kolkata. LOGOS will use this land to build a warehousing and logistics park. Post the transaction the project is likely to complete by H2FY23.
Endurance Technologiesis trading with more than 12 times its weekly average trading volume. Mahindra CIE Automotive, Bombay Burmah Trading Corporation,TVS Motor, and Nippon Life India Asset Managementare trading at more than four times their weekly average trading volumes.
ICICI Direct maintains a ‘Buy’ rating on Tata Communications with a target price of Rs 1,610, indicating an upside of 30%. The brokerage remains positive on the company due to its improving cash flows, growing digital platforms and data business, and a healthy order pipeline. The brokerage expects net profit to rise at a 13.7% CAGR over FY22-24.
Meghmani Finechem's Q4FY22 net profit jumps 3X YoY to Rs 99 crore while revenues rise 93% YoY to Rs 499 crore. Higher sales realizations for caustic soda and hydrogen peroxide product lines drives overall profit growth in Q4FY22
MindTree outperforms Larsen & Toubro Infotech (LTI) by 4.0 percentage points in QoQ net profit growth in Q4FY22. However, LTI outperforms MindTree on nine out of 16 fundamental parameters like QoQ revenue growth, annual return on equity, price-to-earnings ratio, among others, according to Trendlyne’s Stock Comparison tool.
Gujarat Mineral Development Corporation reports a net profit in Q4FY22 of Rs 175.8 crore against a loss of Rs 184.6 crore a year ago. Revenue rises 80.3% YoY to Rs 1,097 crore driven by growth in the mining and power segments. In FY22, the company reports a net profit of Rs 405 crore against a loss of Rs 39.3 crore a year ago and revenue rises 93.6% YoY to Rs 2,888.9 crore.
Tatva Chintan Pharma Chem is falling as Q4FY22 profit falls 7.2% YoY to Rs 18.9 crore and revenue falls 3.2% YoY to Rs 103.1 crore. In FY22, the company's profit rises 83% to Rs 95.9 crore.
Citi upgrades Reliance Industries to ‘Buy’ with a target price of Rs 3,170, according to reports. It expects the company’s EBITDA to grow 3-9% over FY23-24. However, the brokerage sees no major growth in the O2C (oil-to-chemical) segment in Q4FY22.
Veranda Learning Solutions is rising as it acquires T.I.M.E (Advanced Educational Activities Pvt Ltd) for Rs 287 crore. The acquisition includes the business of spoken English under VETA brand and pre-school operations under T.I.M.E brand. The acquisition will be in a phased manner with 80% of the outstanding capital along with management control in phase 1, followed by the purchase of the remaining 20% at the end of two years.
Tata Investment Corporation’s Q4FY22 net profit rises more than 7X YoY to Rs 20.2 crore and revenue rises 71% YoY to Rs 50.9 crore on the back of a rise in dividend income and net gain on fair value changes. In FY22, net profit rises 38.6% YoY to Rs 214.46 crore and revenue rises 55% YoY to Rs 254 crore.
Campus Activewear raises Rs 418.3 crore from investors by selling 1.43 crore equity shares at Rs 292 per share to 32 anchor investors. Investors include Abu Dhabi Investment Authority, Nomura, CLSA, Societe Generale, Goldman Sachs, ICICI Prudential, HDFC Life Insurance, Motilal Oswal, among others.
Mahindra CIE Automotive reports net profit in Q1CY22 of Rs 168.69 crore against a loss of Rs 76.1 crore a year ago. Net sales rise 14.6% YoY to Rs 1,202.2 crore with revenue increasing 16.4% YoY to Rs 992.4 crore.
Biocon’s subsidiary Biocon Biologics bags a three-year contract for its recombinant brand of human insulin, worth Rs 688.45 crore from Malaysia’s Health Ministry. Biocon Sdn. Bhd., the Malaysian subsidiary of Biocon Biologics will manufacture and supply the range of insulins.

Riding High:

Largecap and midcap gainers today include Ruchi Soya Industries Ltd. (1,035.80, 9.07%), Adani Transmission Ltd. (2,812.55, 7.52%) and Cholamandalam Investment & Finance Company Ltd. (764.00, 6.82%).

Downers:

Largecap and midcap losers today include Gland Pharma Ltd. (3,142.95, -4.57%), Atul Ltd. (9,358.00, -4.47%) and Laurus Labs Ltd. (572.10, -3.67%).

Volume Shockers

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

Top high volume gainers on BSE included Mahindra CIE Automotive Ltd. (223.55, 12.39%), Gujarat Alkalies & Chemicals Ltd. (1,028.75, 10.89%) and Ruchi Soya Industries Ltd. (1,035.80, 9.07%).

Top high volume losers on BSE were Atul Ltd. (9,358.00, -4.47%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,822.55, -1.60%).

Endurance Technologies Ltd. (1,162.95, 3.28%) was trading at 14.0 times of weekly average. TVS Motor Company Ltd. (681.50, 4.95%) and Bombay Burmah Trading Corporation Ltd. (1,026.55, 8.87%) were trading with volumes 8.5 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks made 52-week highs, while 1 stock hit their 52-week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (909.50, 5.81%), Adani Power Ltd. (285.65, 5.00%) and Cholamandalam Investment & Finance Company Ltd. (764.00, 6.82%).

Stock making new 52 weeks lows included - Infibeam Avenues Ltd. (18.10, -2.43%).

25 stocks climbed above their 200 day SMA including Mahindra CIE Automotive Ltd. (223.55, 12.39%) and Ruchi Soya Industries Ltd. (1,035.80, 9.07%). 11 stocks slipped below their 200 SMA including Atul Ltd. (9,358.00, -4.47%) and Laurus Labs Ltd. (572.10, -3.67%).

Trendlyne Marketwatch

25 Apr 2022

Market closes lower, RailTel Corporation of India bags order worth Rs 122.08 crore

Trendlyne Analysis

Nifty 50 closed in the red with the Indian volatility index, India VIX rising by over 15%. All major Asian indices closed lower, following the global trend, on fears of high inflation levels and prospect of aggressive monetary policy by the US Fed. US indices closed sharply lower on Friday after the US Fed Chairman, Jerome Powell said on Thursday that a 0.5 percentage point hike is on the table for the US Fed’s next meeting to be held in May. The Euro trades lower after opening in the green following French President Emmanuel Macron's win against Marine Le Pen, which was largely expected by markets and political analysts. Shanghai SE Composite Index closed over 5% lower as the Covid-19 outbreak spread to Beijing with some areas in the capital under lockdown.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Bank, which opened in the red, closed marginally higher than Friday’s level. Nifty IT closed in the red, tracking the tech-heavy NASDAQ 100, which fell 2.6% on Friday.

NIfty 50closed at 16,953.95 (-218, -1.3%), BSE Sensexclosed at 56,579.89 (-617.3, -1.1%) while the broader Nifty 500closed at 14,673.00 (-221.9, -1.5%)

Market breadth is moving down. Of the 1,924 stocks traded today, 355 were on the uptrend, and 1,540 went down.

Supreme Industries, EPL, Solar Industries India, and Hindustan Unilever are trading withhigher volumes as compared to Friday.
Realty stocks like DLF, Macrotech Developers, Godrej Properties, Oberoi Realty and Prestige Estates projects, among others, are falling in trade. The broader sectoral index Nifty Realty is also trading in the red.
Century Textiles rises as it reports a net profit of Rs 84.4 crore in Q4FY22 against a loss of Rs 10 crore, a year ago. Total sales jump 44.8% YoY to Rs 1,188 crore. The company recommends a dividend of Rs 4 per share for the year FY22.
Dalmia Bharat and Birlasoft touch an all-time high of Rs 1,180 and Rs 314.5, respectively. Dalmia Bharat is rising for three consecutive sessions while Birlasoft rises for two consecutive sessions.
India Ratings and Research expects growth momemtum for residential real estate sector to be robust in FY23 and sees a 12% YoY rise in housing sales for FY23.
RailTel Corporation of India receives order worth Rs 122.08 crore from Electronics & Information Technology Department, Government of Odisha for provisioning of secondary bandwidth for Odisha State Wide Network project. RailTel’s project is to be completed over a period of five years.
Edelweiss maintains a ‘Buy’ rating on ICICI Bank with a target price of Rs 945, indicating an upside of 26%. The brokerage remains bullish on the company’s overall improvement in asset quality, strong digital push, focus on risk management and good provision coverage. The brokerage expects revenue to grow at a 16.8% CAGR over FY22-24.
Godrej Agrovet is trading with more than 15 times its weekly average trading volume. Mahindra CIE Automotive, Rossari Biotech, Quess Corp, and Hikalare trading at more than four times their weekly average trading volumes.
Godrej Agrovet rises after Indonesia announces ban on palm oil exports. Godrej Agrovet is a major local producer of palm oil and specializes in palm oil plantations, crop protection, among others.
Metal stocks like Tata Steel, Hindalco Industries, Vedanta, Hindustan Zinc, NMDC and Coal India, among others, are falling in trade. The broader sectoral index BSE Metal is also trading in red amid concerns of poor metal demand in China.
Stocks like Maruti Suzuki India, Motilal Oswal Financial Services, Ambuja Cements, and Biocon, among others, are rising over the past week, ahead of their financial results.
Glenmark Pharma launches Teneligliptin + Pioglitazone fixed dose combination (FDC) drug for Type 2 Diabetes in India. This FDC drug, under the brand name Zita Plus Pio, helps improve glycemic control among adult patients with insulin resistance. Glenmark Pharma is the first company to launch this FDC in India.
Cyient to acquire a 100% stake in Citec, an international plant and product engineering services company for Euro 94 million or Rs 775.7 crore in an all-cash deal. The company expects the acquisition to strengthen its presence in the European markets and add new engineering capabilities to its portfolio.
Tejas Networks falls after it reports a net loss of Rs 49.6 crore in Q4FY22 against a profit of Rs 33.5 crore in Q4FY21. Its revenues fell 37.24% YoY to Rs 141 crore as semiconductor shortages hit telecom gear production.
Tata Metaliks is falling as its Q4FY22 net profit falls 30% YoY to Rs 52.36 crore despite a 22.5% increase in revenues to Rs 807.9 crore. Net profit falls as cost of materials rises 44% YoY to Rs 542.7 crore in Q4FY22 due to increase in prices of major raw materials like coal, coke, and iron ore.
Welspun Corp receives an export order from South East Asia of 55,000 million tonnes for the manufacture and supply of pipes for an important offshore project. The order will be executed from the facilities existing in India.
Hindustan Zinc’s Q4FY22 net profit rises 18% YoY to Rs 2,928 crore and revenue rises 25% YoY to Rs 9,074 crore on the back of higher volumes and a rise in metal prices. EBITDA rises 29% YoY to Rs 5,007 crore. In FY22, net profit rises 20.6% YoY to Rs 9,629 crore and revenue rises 25.4% YoY to Rs 30,656 crore.
FMCG stocks like Hindustan Unilever, Nestle India, Britannia Industries, ITC, and Godrej Consumer Products, among others are falling in trade after Indonesia announces a ban on palm oil exports. The broader sectoral index Nifty FMCG is also trading in the red.
ICICI Bank’s Q4FY22 net profit jumps 59% YoY to Rs 7,019 crore with net interest income rising 21% YoY to Rs 12,605 crore. Provisions fall 63% YoY to Rs 1,069 crore. The bank’s asset quality improves as NPAs fall by 136 bps YoY to 3.6% and 38 bps to 0.76%, for gross and net NPAs respectively. Fee income grew 14% YoY to Rs 4,366 crore with retail, rural, business, and SME banking contributing 77% to total fee growth.
Sun Pharmaceuticals and Aurobindo Pharma are recalling different products in the US market for various reasons, as per the enforcement report by the US Food and Drug Administration (USFDA), according to reports. Aurobindo Pharma is recalling Cyanocobalamin Injection, which is used to treat and prevent vitamin B12 deficiency. Sun Pharma is recalling Cequa, a drug used to increase production of natural tears in the eyes.
Reliance Industries cancels its Rs 24,713-crore deal with Future Group to take over its retail assets. Future Group's secured creditors voted against the scheme of transfer of its retail and logistics business to the Reliance Industries' subsidiaries, despite unsecured creditors and shareholders approving the deal.

Riding High:

Largecap and midcap gainers today include Varun Beverages Ltd. (1,094.80, 5.28%), Adani Power Ltd. (272.05, 5.00%) and Aditya Birla Capital Ltd. (115.75, 2.93%).

Downers:

Largecap and midcap losers today include Tata Communications Ltd. (1,119.50, -9.29%), Coal India Ltd. (188.45, -6.78%) and Hindustan Zinc Ltd. (322.85, -6.52%).

Volume Rockets

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

Top high volume gainers on BSE included Mahindra CIE Automotive Ltd. (198.90, 6.34%), IOL Chemicals and Pharmaceuticals Ltd. (481.90, 5.62%) and Tube Investments of India Ltd. (1,822.30, 4.13%).

Top high volume losers on BSE were Tata Communications Ltd. (1,119.50, -9.29%), Hikal Ltd. (393.70, -5.73%) and Nippon Life India Asset Management Ltd. (317.35, -3.00%).

Godrej Agrovet Ltd. (505.70, 2.18%) was trading at 22.9 times of weekly average. Century Textiles & Industries Ltd. (886.40, 0.85%) and Quess Corp Ltd. (672.60, 1.61%) were trading with volumes 8.0 and 7.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks made 52-week highs, while 2 stocks hit their 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (272.05, 5.00%), Swan Energy Ltd. (320.40, 4.35%) and Vinati Organics Ltd. (2,158.60, -2.03%).

Stocks making new 52 weeks lows included - Pfizer Ltd. (4,315.25, -0.76%) and HDFC Asset Management Company Ltd. (2,005.00, -2.03%).

9 stocks climbed above their 200 day SMA including Aditya Birla Capital Ltd. (115.75, 2.93%) and KRBL Ltd. (253.10, 1.77%). 25 stocks slipped below their 200 SMA including Hindustan Zinc Ltd. (322.85, -6.52%) and Just Dial Ltd. (851.30, -4.54%).

Trendlyne Marketwatch

22 Apr 2022

Market closes lower, Zen Technologies rises on winning an order worth Rs 55 crore

Trendlyne Analysis

Nifty 50 closed lower with the Indian volatility index rising above 18% amid weak global cues. Asian indices closed in the red as US Federal Reserve Chairman Jerome Powell toughened his stance on inflation on Thursday. Powell said that 0.5% interest rate increase will be ‘on the table’ when the Fed meets in May. US indices, which were trading in the green on Thursday, closed lower on the fear of an aggressive rate-hike outlook. Oil is headed for a weekly loss on concern over falling energy demand in China due to Covid-19 lockdowns and weak global growth prospects. European indices trade in the red on the back of a higher likelihood of aggressive monetary policy tightening and the impact of the war in Ukraine.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Bank and Nifty Metal closed lower than Thursday’s levels. Nifty IT closed in the red, tracking the tech-heavy NASDAQ 100 futures.

Nifty 50 closed at 17,171.95 (-220.7, -1.3%), BSE Sensex closed at 57,197.15 (-714.5, -1.2%) while the broader Nifty 500 closed at 14,894.85 (-159.1, -1.1%)

Market breadth is in the red. Of the 1,899 stocks traded today, 669 were in the positive territory and 1,181 were negative.

Tata Teleservices (Maharashtra), Bajaj Electricals, Symphony, and Carborundum Universal are trading with higher volumes as compared to Thursday.
ICICI Lombard General Insurance’s Q4FY22 profit falls 10% YoY to Rs 313 crore even as revenue rises 33% YoY to Rs 4,636 crore, as other expenses rise 67% YoY to Rs 775 crore. In FY22, profit falls 13.7% YoY to Rs 1,271 crore and revenue rises 32.6% YoY to Rs 16,129.8 crore.
PSU bank stocks like State Bank of India, Indian Bank, Bank of Baroda, and Canara Bank among others are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in the red.
Crisil’s Q4FY22 net profit increases 45.6% YoY to Rs 121.6 crore with revenue rising 20.1% YoY to Rs 594.94 crore. Research services segment’s revenue grows 26.3% YoY to Rs 394.24 crore. However, total expenses for the company rose 11.9% YoY to Rs 445.74 crore because of an increase in employee benefit costs by 18.7%. The company declared an interim dividend of Rs 7 per share with record date as May 19, 2022.
Reliance Industries, State Bank of India, Bajaj Finance, and Asian Paints, among others, are outperforming the Nifty 50 index over the past month.
Pharma stocks like Sun Pharmaceutical Industries, Divi’s Laboratories, Cipla, Dr. Reddy’s Laboratories, Gland Pharma, and Torrent Pharmaceuticals, among others are falling in trade. The broader sectoral index Nifty Pharma is also trading in red.
L&T Technology services Q4FY22 profit rises 5.3% QoQ to Rs 262 crore and revenue rises 4.26% QoQ to Rs 1,798 crore on the back of broad-based growth across its segments. Operating profit margin marginally falls by 10 bps QoQ to 21.67% as expenses rise 4% QoQ to Rs 1,439.2 crore.
Zen Technologies rises on winning an order worth Rs 55 crore for a period of five years. Its total order book (domestic and exports) now stands at Rs 477.04 crore.
Borosil Renewables surges, ahead of its board meeting to finalise fundraising options through issuance of equity shares or through preferential issue on a private placement basis. The meeting will be held on Monday.
Sterlite Technologies is trading with more than 12 times its weekly average trading volume. Elgi Equipments, Bombay Burmah Trading Corporation, Cyient and EPL are trading at more than five times their weekly average trading volumes.
HDFC Securities maintains an 'Add' rating on ICICI Securities but cuts its target price by 19.6% to Rs 740. The brokerage reduces the valuation multiple for ICICI Sec as its broking revenues fell 5% QoQ in Q4FY22 on lower cash delivery volumes. The company continued to lose market share in the derivatives segment owing to higher competition from new-age fintech brokers.
Adani Enterprises, Reliance Industries, Angel One, and IIFL Finance, among others, are in overbought zone according to technical indicator relative strength index or RSI
Cyient’s Q4FY22 revenue rises 2% QoQ to Rs 1,230.6 crore and profit rises 17% QoQ to Rs 154.2 crore on an increase in orders for digital services. Operating profit margin marginally rises 8 bps QoQ to 17.98%.
HDFC Securities maintains a ‘BUY’ rating on Mastek with a target price of Rs 3,530, indicating an upside of 19.8%. The brokerage remains positive about the company as its order book grew 24% YoY to Rs 1,469 crore on the back of a $ 65 million order from the UK government. HDFC Securities expects the company’s revenue to grow at an 18.1% CAGR over FY22-24.
Borosil Renewables and Mazagon Dock Shipbuilders touch an all-time high of Rs 774.5 and Rs 342.4 respectively. Both stocks are rising for two consecutive sessions.
Rallis India is falling as it announces a loss of Rs 14 crore in Q4FY22 against a profit of Rs 8 crore in Q4FY21. The company reports losses despite a 9% revenue growth in Q4FY22 to Rs 508 crore due to high raw material costs, pricing issues, and unseasonal rains.
Vedanta Group looks to divest 20-25% stake each in the three main business units of Sterlite Technologies, according to news reports. It seeks a valuation of $2 billion for each of the business units. According to its recent press release, Sterlite Technologies is mulling a fundraise via the equity route.
Tata Communications' Q4FY22 revenue rises 9.5% YoY to Rs 4,526.6 crore and profit rises 22% YoY to Rs 365.1 crore on higher other income. The maximum growth in revenue came in from the data services segment at 6.9% YoY to Rs 3,316 crore. In FY22, revenue falls by 1.1% YoY to Rs 17,056.8 crore and profit rises 18.5% to Rs 1,481.8 crore.
TVS Motors invests 100 million pounds in Norton Motorcycles, a UK motorcycle brand that TVS motors acquired in 2020. Part of this investment was used to open its new manufacturing facility in West Midlands to build bikes using traditional hand-crafted techniques with modern-day machinery.
Adani Ports & Special Economic Zone (APSEZ) through its subsidiary Adani Harbour Services to acquire a 100% stake in Ocean Sparkle (OSL) for a total consideration of Rs 1,530 crore in an all-cash deal. The company will directly acquire a 75.69% stake in OSL for Rs 1,135.3 crore and indirectly acquire the remaining 24.31% stake by acquiring a 100% stake in Savi Jana Sea Foods for Rs 398.87 crore. The company expects this acquisition to increase its footprint in the marine service market.
HCL Technologies’ Q4FY22 net profit rises 4.4% QoQ to Rs 3,593 crore with revenue increasing marginally by 1.2% QoQ to Rs 22,597 crore. The products and platforms segment reports a fall in revenues by 23.2% QoQ to Rs 2,316 crore dragging down total revenue growth. However, EBIT margins fall 110 bps QoQ to 17.9%. The company’s board declares an interim dividend of Rs 18 per share with record date as April 29, 2022.

Riding High:

Largecap and midcap gainers today include Tata Elxsi Ltd. (8,358.00, 5.75%), Adani Power Ltd. (259.10, 4.98%) and United Breweries Ltd. (1,545.60, 4.18%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (2,520.10, -8.16%), ICICI Lombard General Insurance Company Ltd. (1,318.00, -5.92%) and Hindalco Industries Ltd. (514.15, -4.83%).

Volume Rockets

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

Top high volume gainers on BSE included Sterlite Technologies Ltd. (235.05, 13.83%), Cyient Ltd. (917.20, 10.31%) and Elgi Equipments Ltd. (337.50, 8.84%).

Top high volume losers on BSE were Rallis India Ltd. (253.65, -9.88%), Polycab India Ltd. (2,520.10, -8.16%) and ICICI Lombard General Insurance Company Ltd. (1,318.00, -5.92%).

Bombay Burmah Trading Corporation Ltd. (967.45, 6.75%) was trading at 18.8 times of weekly average. Esab India Ltd. (3,358.35, 1.96%) and EPL Ltd. (169.05, -3.12%) were trading with volumes 8.8 and 6.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks overperformed with 52-week highs,

Stocks touching their year highs included - Adani Power Ltd. (259.10, 4.98%), Coal India Ltd. (202.15, -2.30%) and EID Parry (India) Ltd. (519.05, 3.03%).

20 stocks climbed above their 200 day SMA including United Breweries Ltd. (1,545.60, 4.18%) and J B Chemicals & Pharmaceuticals Ltd. (1,703.00, 3.42%). 16 stocks slipped below their 200 SMA including Rallis India Ltd. (253.65, -9.88%) and Aegis Logistics Ltd. (228.20, -4.86%).

Trendlyne Marketwatch

21 Apr 2022

Market closes higher, ICICI Direct maintains ‘Buy’ on PCBL

Trendlyne Analysis

Nifty 50 closed in the green with the Indian volatility index, India VIX slipping below 18%. Asian indices closed mixed with Chinese stocks trading lower owing to worries about the Chinese economy growth as the country combats with its recent Covid-19 outbreak. US indices closed mixed on Wednesday amid rising 10-year treasury yields. Dow Jones ended higher on Wednesday while the tech-heavy Nasdaq 100 closed in the red as Netflix plunged 35% after reporting a loss in subscriber count for the first time in a decade. Oil prices edge higher as investors weigh potential supply disruptions against demand prospects. Investors await comments from Fed Chairman, Jerome Powell and European Central Bank President, Christine Lagarde at an International Monetary Fund event later in the day. European stocks trade mixed as investors keep track of developments in Ukraine and the French presidential campaign.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Auto and Nifty Bank close higher than Wednesday’s levels. Nifty IT closes in the green, tracking the tech-focused Nasdaq 100 futures.

Nifty 50 closed at 17,392.60 (256.1, 1.5%), BSE Sensex closed at 57,911.68 (874.2, 1.5%) while the broader Nifty 500 closed at 15,053.95 (203.7, 1.4%)

Market breadth is surging up. Of the 1,892 stocks traded today, 1,343 were on the uptick, and 504 were down.

Carborundum Universal, KPR Mill, Krishna Institute of Medical Sciences, and Procter & Gamble Hygiene & Healthcare are trading with higher volumes as compared to Wednesday.
Shriram Properties Q4FY22 sales bookings rise 15% QoQ to Rs 479 crore and sales volume rises 14% QoQ to 1.17 million square feet on robust demand. In FY22, sales bookings rise 19% YoY to Rs 1,482 crore and sales volume rises 25% to 3.76 million square feet.
Delivery volume of stocks like Biocon, Ambuja Cements, Tata Steel, and MphasiS, among others, are rising ahead of their Q4FY22 results to be announced over the next two weeks.
VRL Logistics surges after the company announces an MoU with Ratna Cements. VRL Logistics plans to transfer its wind power undertaking along with all assets and liabilities on a slump sale basis for Rs 48 crore. The management wants to dispose off this undertaking to focus on its goods transport business.
ICICI Direct maintains a ‘Buy’ rating on PCBL (Phillip Carbon Black) with a target price of Rs 160, indicating an upside of 42%. The brokerage maintains its positive outlook on the company due to its rising export sales, increasing speciality product sales and better realisations per tonne due to high crude oil prices. The brokerage expects EBITDA to rise at a 12.7% CAGR over FY22-24.
Ramkrishna Forgings rises as the company bags an export order worth Rs 33 crore from Europe’s leading tier-1 axle manufacturer for a period of five years.
PNC Infratech is trading with more than 18 times its weekly average trading volume. TCI Express, Gland Pharma, Saregama India, and Finolex Cables are trading at more than four times their weekly average trading volumes.
Nifty 50 rises for second consecutive day led by Reliance Industries, Infosys, HDFC Bank, and ICICI Bank, which constitute over 35% of the total weight of Nifty 50.
Fino Payments Bank surges after it receives RBI's approval to offer referral services of term deposits by partnering with Suryoday Small Finance Bank. Basically, the bank's 3.9 million customers will be able to avail fixed deposit and recurring deposit facilities through the partner bank.
Nestle India’s Q4FY22 profit falls 1.25% YoY to Rs 594.7 crore but revenue rises 9.9% YoY to 4,002.1 crore as domestic sales rise 10.2% YoY to Rs 3,794.2 crore. High input costs impact margins as the cost of materials consumed rise 22% YoY to Rs 1,845.9 crore.
ITC rises as it plans to acquire 10.07% stake in Blupin Tech in an all-cash deal. This is the second acquisition of ITC into the mother and baby care segment. It acquired Mother Sparsh Baby Care in November 2021.
According to reports, LIC’s new business premium collection rises 7.9% YoY to Rs 1.98 lakh crore with a market share of 63.2% at the end of March 2022. LIC’s individual single premium collections rise 61% YoY to Rs 4,018 crore in March 2022 while group single premiums rise 48.1% to Rs 30,052.8 crore.
Nykaa surges after it announces a tie-up with global haircare leader Aveda (owned by Estée Lauder) to launch premium hair-care salons in India. The first 'Aveda X Nykaa' salon will be launched today in Bangaluru under this partnership. With this tie-up, Nykaa will foray into professional beauty services segment in India.
Glenmark Life Sciences Q4FY22 revenue rises 10% YoY to Rs 514.06 crore but profit falls 5.5% YoY to Rs 98.9 crore on high input cost inflation. EBITDA margin falls by 7.7 percentage points YoY to 28.7%. In FY22, revenue rises 12.6% YoY to Rs 2,123.2 crore and profit rises 19.1% YoY to Rs 418.7 crore.
Reliance Industries surges to an all-time high. Morgan Stanley raises the target price on the company as it believes hydrogen adoption plans are quickly progressing, with Reliance Industries being in the best position to capitalize on it, according to reports.
Angel One is rising as its net profit jumps 2.1 times YoY to Rs 204.7 crore and revenues increase by 63.6% to Rs 685.3 crore. Operating profit margin rises by 6.52 percentage points to 42.46% with its total client base increasing
by 18.4% QoQ to 92 lakhs.
ICICI Securities Q4FY22 profit rises 3.2% YoY to Rs 340.3 crore and revenue rises 21% YoY to Rs 892.3 crore. The maximum revenue growth came in from the broking and distribution segment at 19.7% YoY growth. In FY22, revenue rises 32.9% to Rs 3,438.4 crore and profit rises 29.4% YoY to Rs 1,067.7 crore.
Tata Elxsi’s Q4FY22 net profit rises 6% QoQ to Rs 160 crore and revenue increases 7.3% to Rs 681.7 crore. Maximum revenue came in from industrial design & visualization segment with a 8.7% QoQ growth and embedded product design segment with a 7.6% QoQ growth. However, EBIT margins for the company fell 90 bps QoQ to 30.1%.

Riding High:

Largecap and midcap gainers today include L&T Finance Holdings Ltd. (88.45, 9.26%), Jubilant Foodworks Ltd. (594.75, 7.80%) and Biocon Ltd. (373.95, 6.07%).

Downers:

Largecap and midcap losers today include Jindal Steel & Power Ltd. (540.75, -2.91%), Tata Communications Ltd. (1,282.00, -2.31%) and Larsen & Toubro Infotech Ltd. (5,076.95, -1.81%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Angel One Ltd. (1,908.95, 17.54%), PNC Infratech Ltd. (271.50, 11.38%) and L&T Finance Holdings Ltd. (88.45, 9.26%).

Top high volume losers on BSE were ICICI Securities Ltd. (597.15, -4.99%), Saregama India Ltd. (4,450.15, -4.51%) and Kalpataru Power Transmissions Ltd. (365.00, -3.76%).

Indostar Capital Finance Ltd. (233.80, 4.40%) was trading at 20.2 times of weekly average. Gland Pharma Ltd. (3,448.70, 5.06%) and TCI Express Ltd. (1,862.90, 2.29%) were trading with volumes 10.7 and 10.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks overperformed with 52-week highs,

Stocks touching their year highs included - Blue Star Ltd. (1,164.30, 0.13%), Coal India Ltd. (206.90, 3.92%) and Mangalore Refinery And Petrochemicals Ltd. (68.70, 1.18%).

28 stocks climbed above their 200 day SMA including L&T Finance Holdings Ltd. (88.45, 9.26%) and PCBL Ltd. (119.50, 6.60%). 5 stocks slipped below their 200 SMA including Sundram Fasteners Ltd. (830.10, -2.57%) and Astral Ltd. (2,119.95, -1.59%).

Trendlyne Marketwatch

20 Apr 2022

Market closes higher, Alembic Pharma gets USFDA approval to market generic drug

Trendlyne Analysis

Nifty 50 closed higher with the Indian volatility index, India VIX falling by over 5.5%. Most Asian indices closed in the green after US stocks closed sharply higher on Tuesday on the back of strong corporate earnings. However, NASDAQ 100 Futures fell 1% after trading hours as Netflix announced lower-than-expected subscriber numbers in Q4FY22. Crude oil prices snapped a four-day winning streak as International Monetary Fund lowered its forecast for global economic growth by a full percentage point, citing elevated inflation levels due to Russia’s invasion. Safe haven asset Gold continues to trade at elevated levels amid rising inflation and crisis in Ukraine. The pan-European index, STOXX 600 trades higher after positive earnings reports from food and beverages companies.

Nifty Smallcap 100 closed lower, despite the benchmark index closing in the green. Nifty Auto and Nifty Energy closed higher than Tuesday’s levels. Nifty IT, which has lost over 7.5% in last two trading sessions, closed in the green.

Nifty 50closed at 17,136.55 (177.9, 1.1%), BSE Sensexclosed at 57,037.50 (574.4, 1.0%) while the broader Nifty 500closed at 14,850.30 (123.7, 0.8%)

Market breadth is even. Of the 1,895 stocks traded today, 933 were in the positive territory and 918 were negative.

Tata Teleservices (Maharashtra), AIA Engineering, Westlife Development, and Infibeam Avenuesare trading with higher volumes as compared to Tuesday.
Axis Securities forecasts Nestle India’s revenue to grow moderately at 5.5% YoY to Rs 3,800 crore due to weak consumer demand, exports and rural sentiment. The brokerage expects raw material prices to dent gross margin by 96 bps YoY.
PSP Projects rises after announcing new order wins of Rs 611.4 crore for FY22 and Rs 327.4 crore for FY23. The new orders for FY22 include an Ahemdabad-based sports complex project worth Rs 503.6 crore. With the inclusion of these new construction projects of Rs 938.8 crore, the company's order book stands at Rs 1,802.2 crore at the end of FY22 .
Energy stocks like Mangalore Refinery and Petrochemicals, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Reliance Industries and Coal India are rising in trade. The broader sectoral index S&P BSE Energy is also up.
Escorts falls after it announces price hikes for tractors effective April 20, to offset the impact of continuous rise in commodity prices and inflation.
Sona BLW Precision Forgings inks partnership with Enedym to develop SRM drive platforms for Indian road and usage conditions targeting 2-wheeler high-performance motorcycles, 3-wheeler and 4-wheeler cargo delivery electric vehicles.
Vinati Organics is trading with more than seven times its weekly average trading volume. Vijaya Diagnostic Centre, Jamna Auto Industries, ACC, and KPR Mill are trading at more than three times their weekly average trading volumes.
Alembic Pharmaceuticals receives US Food and Drug Administration's (USFDA) tentative approval for its lvabradine tablets, 5 mg, and 7.5 mg. This drug is a generic equivalent of Corlanor tablets, which has an estimated annual sales of $ 102 million in the US. Ivabradine is used for symptomatic management of stable heart-related chest pain and heart failure.
Mastek’s Q4FY22 net profit rises 5.7% QoQ to 88.2 crore and revenues increase by 7.5% to Rs 599.5 crore. Operating profit margin falls 31 bps QoQ to 20.75% as employee expenses increase by 6.6% to Rs 291 crore. The company’s 12-month order backlog rises 15.6% QoQ to Rs 1,469.1 crore
Vinati Organics and Varun Beverages touch an all-time high of Rs 2,275 and Rs 1,080 respectively. Both stocks are rising for three consecutive sessions.
HDFC Securities maintains an ‘Add’ rating on Mindtree, but reduces its target price to Rs 4,855 from Rs 4,990, indicating an upside of 22.6%. The brokerage reduced its target price as the company missed revenue estimates. However, HDFCSec remains positive on the company due to its consistent growth in revenue and expansion into European markets.
ICICI Securities downgrades its rating on Larsen & Toubro Infotech from ‘HOLD’ to ‘REDUCE’ with a target price of Rs 4,986. The brokerage sees a 9% downside as the company missed revenue estimates due to weak growth in the banking and financial services segment.
HDFC sells 2.35 lakh equity shares (10% stake) of HDFC Capital to a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADAI) for Rs 184 crore. ADAI is the primary investor in alternative investment funds managed by HDFC Capital.
Rakesh Jhunjhunwala buys a 0.47% stake in Jubilant Pharmova in Q4FY22 taking his holding to 6.76% in the company.
Tata Steel Long Products is falling as profit falls 82.46% YoY to Rs 59.6 crore in Q4FY22. The company's revenue rises 16.74% YoY in Q4FY22.
Larsen & Toubro Infotech’s Q4FY22 profit rises 4.1% QoQ to Rs 637 crore and revenue rises 4.6% QoQ to Rs 4,435.6 crore on higher deal flow. Revenue growth is driven by Consumer Packed Goods, Pharma, Retail segment growing 6.2% QoQ and Energy & Utilities segment rising 4.5% QoQ. However, EBITDA margin fell 40 bps QoQ to 19.7%.
Kolte-Patil Developers' Q4FY22 sales value falls 2% YoY to Rs 501 crore but rises 45% YoY to Rs 1,739 crore in FY22. The company's realization falls 1% per square foot in Q4FY22.
Future Enterprises defaults on payment of Rs 29.3 crore of interest on non-convertible debentures (NCDs) for the third time in April 2022. The company defaulted on payment of Rs 9 crore on April 12 and Rs 1.2 crore on April 15.
ACC’s Q4FY22 net profit falls 30% YoY to Rs 396 crore as cost of materials rise 14% YoY to Rs 627 per tonne and power and fuel cost surges 32% to Rs 1,323 per tonne. EBITDA margin fell 570 bps YoY to 14.7%. However, net sales increase 3% YoY to Rs 4,322 crore as net selling price of cement rises 5% YoY to Rs 5,112 per tonne.

Riding High:

Largecap and midcap gainers today include Max Healthcare Institute Ltd. (408.95, 10.26%), ACC Ltd. (2,208.25, 7.38%) and Ambuja Cements Ltd. (371.30, 4.81%).

Downers:

Largecap and midcap losers today include Larsen & Toubro Infotech Ltd. (5,170.30, -5.52%), Cholamandalam Investment & Finance Company Ltd. (709.85, -3.66%) and Macrotech Developers Ltd. (1,004.55, -3.61%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Mangalore Refinery And Petrochemicals Ltd. (67.90, 17.78%), Responsive Industries Ltd. (178.00, 10.49%) and Max Healthcare Institute Ltd. (408.95, 10.26%).

Top high volume losers on BSE were Nilkamal Ltd. (2053.80, -4.58%), Macrotech Developers Ltd. (1,004.55, -3.61%) and Carborundum Universal Ltd. (740.25, -2.60%).

Vinati Organics Ltd. (2,170.65, 3.09%) was trading at 9.7 times of weekly average. Krishna Institute of Medical Sciences Ltd. (1,399.45, -0.20%) and Procter & Gamble Hygiene & Healthcare Ltd. (14,445.35, -1.07%) were trading with volumes 6.9 and 6.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52-week highs,

Stocks touching their year highs included - Coal India Ltd. (199.10, 0.68%), Mangalore Refinery And Petrochemicals Ltd. (67.90, 17.78%) and Swan Energy Ltd. (302.45, 4.93%).

12 stocks climbed above their 200 day SMA including TCI Express Ltd. (1,821.25, 3.99%) and Astral Ltd. (2,154.30, 3.13%). 15 stocks slipped below their 200 SMA including Garware Technical Fibres Ltd. (3,120.80, -3.91%) and Bajaj Finance Ltd. (7,032.50, -3.13%).

Trendlyne Marketwatch

19 Apr 2022

Market closes lower, Procter & Gamble appoints L. V. Vaidyanathan as Managing Director

Trendlyne Analysis

Indian indices closed lower after gyrating between gains and losses throughout the day. Asian stocks closed mixed as investors assess China’s measures to cushion economic slowdown and prospect of aggressive monetary policy tightening. US indices edged lower on Monday amid rising bond yields ahead of earnings cues this week. Oil prices continue to trade at elevated levels as Libya National Oil Corporation announces closure of a major oil field due to protests at site. Investors are also eyeing Q4FY22 earnings as they monitor the impact of Ukraine war and spike in inflation on company financials. The pan-European STOXX 600 follows global trends and trades lower as mixed earnings keep investors on edge.

Nifty Smallcap 100 and Nifty Midcap 100 close in the red, following the benchmark index. Nifty Metal and Nifty Media, which opened in the green, closed sharply lower than Monday’s levels. Nifty IT extended its losses from Monday by falling over 3%.

Nifty 50 closed at 16,958.65 (-215, -1.3%), BSE Sensex closed at 56,463.15 (-703.6, -1.2%) while the broader Nifty 500 closed at 14,726.65 (-199.4, -1.3%)

Market breadth is highly negative. Of the 1,896 stocks traded today, 574 were on the uptrend, and 1,287 went down.

ZF Commercial Vehicle Control Systems India, Cholamandalam Financial Holdings, G R Infraprojects, and Phoenix Mills are trading with higher volumes as compared to Monday.
Procter & Gamble Hygiene & Healthcare appoints L. V. Vaidyanathan as Managing Director (MD) of the Company for a tenure of five years effective from July 1, 2022. Vaidyanathan is taking over from Madhusudan Gopalan who will take on the role of Senior Vice-President - Grooming & Oral Care, P&G Japan & Korea. Gopalan’s resignation from the post of MD will be effective from June 30, 2022.
Sharekhan maintains a ‘BUY’ rating on Cummins India with a target price of Rs 1,252, indicating an upside of 15.2%. The brokerage remains positive about the company on the back of demand revival in railways and telecom segments and strong traction from alternate fuel industries, according to reports.
Energy stocks like ONGC, Coal India, IOC, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are rising in trade. The broader sectoral index S&P BSE Energy is also rising in trade.
Coal India increases its supplies to thermal power stations by 14.2% in the first half of April 2022 as the demand for power rises. The supplies are at 1.64 million tonnes per day as against 1.43 million tonnes in April 2021. Coal India’s production is up 27% YoY in the first half of April 2022 to 26.4 million tonnes with output expansion at 5.7 million tonnes.
HDFC Securities upgrades rating on Astral to 'Add' from 'Reduce' with a target price of Rs 2,280, this indicates an upside of 8.6%. The brokerage expects Astral to post 25%+ YoY revenue growth and 3.5% YoY EBITDA growth in Q4FY22 on improved PVC pipes volumes in buildings and agriculture segment, higher dealer stocking and healthy CPVC pipes demand.
Mangalore Refinery And Petrochemicals is trading with more than eleven times its weekly average trading volume. Rail Vikas Nigam, Varroc Engineering, Hindustan Copper, and Laurus Labs are trading at more than three times their weekly average trading volumes.
Varroc Engineering is rising as reports suggest that the company is looking to sell its global lighting business for about $600-650 million to a leading European component maker.
ICICI Securities initiates coverage on PB Fintech with a ‘Buy’ rating and target price of Rs 940, indicating an upside of 21%. The brokerage believes the company is well placed to benefit from the rising insurance penetration in India, especially through digital distribution. The brokerage expects the company to turn profitable in FY26 and its revenue to rise 44% CAGR over FY22-26.
Delivery volumes of stocks like ICICI Securities, Ambuja Cements, ICICI Bank, and Asian Paints, among others, are rising ahead of their Q4FY22 results to be announced over the next two weeks.
AU Small Finance Bank surges to an all-time high as its board will consider a bonus issue proposal in its upcoming board meeting on April 26.
Tech Mahindra, Wipro, Infosys, and L&T Technology Services are in oversold zone according to technical indicator relative strength index or RSI
Lupin receives US Food and Drug Administration's (USFDA) tentative approval for its abbreviated new drug application Tenofovir tablets, 25 mg. This drug is a generic equivalent of Vemlidy tablets, which has an estimated annual sales of $ 484.4 million in the US. Tenofovir is an antiviral medicine that is used to treat HIV.
Jwalamukhi Investment Holdings a subsidiary of Westbridge Capital Partners sells shares of TVS Motors worth Rs 212.08 crore through an open market transaction. The subsidiary sold 32.6 lakh shares at an average price of Rs 650.
Mindtree’s Q4FY22 net profit rises 8.1% QoQ to Rs 473 crore on 5.4% QoQ rise in revenues to Rs 2,897.4 crore. Revenue growth is mainly driven by an increase in revenue from healthcare segment by 18% QoQ and travel and hospitality segment by 9.2% QoQ. The company’s order book rises 8.9% QoQ to $390 million in Q4FY22.

Riding High:

Largecap and midcap gainers today include Apollo Hospitals Enterprise Ltd. (4,816.35, 5.75%), Coal India Ltd. (197.75, 4.38%) and Reliance Industries Ltd. (2,640.80, 3.81%).

Downers:

Largecap and midcap losers today include MindTree Ltd. (3,635.65, -8.13%), Larsen & Toubro Infotech Ltd. (5,472.35, -6.83%) and Housing Development Finance Corporation Ltd. (2,140.20, -5.45%).

Volume Shockers

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

Top high volume gainers on BSE included Mangalore Refinery And Petrochemicals Ltd. (57.65, 8.98%), Graphite India Ltd. (558.55, 5.25%) and IIFL Wealth Management Ltd. (1,856.55, 5.08%).

Top high volume losers on BSE were MindTree Ltd. (3,635.65, -8.13%), Housing Development Finance Corporation Ltd. (2,140.20, -5.45%) and RBL Bank Ltd. (124.60, -4.30%).

KIOCL Ltd. (229.50, 3.94%) was trading at 6.7 times of weekly average. NLC India Ltd. (76.00, 4.32%) and Rail Vikas Nigam Ltd. (34.65, 0.87%) were trading with volumes 6.6 and 5.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

25 stocks took off, crossing 52-week highs,

Stocks touching their year highs included - Bharat Electronics Ltd. (250.30, -1.82%), Chambal Fertilisers & Chemicals Ltd. (456.50, -9.96%) and Cholamandalam Investment & Finance Company Ltd. (736.85, 1.66%).

22 stocks climbed above their 200 day SMA including Apollo Hospitals Enterprise Ltd. (4,816.35, 5.75%) and Graphite India Ltd. (558.55, 5.25%). 25 stocks slipped below their 200 SMA including Larsen & Toubro Infotech Ltd. (5,472.35, -6.83%) and CCL Products India Ltd. (379.40, -5.89%).