Trendlyne Analysis
Indian indices start the new financial year in green amidst strong buying pressure towards the end of the trading session. Crude oil prices continue to decline as the US plans to release around a million barrels of crude oil a day from its strategic petroleum reserves to curb the rise in fuel prices. Asian indices closed mixed amid weak global cues as China extended the lockdown in Shanghai to curb a surge in Covid 19 cases. US indices fell on Thursday as investors continue to weigh the risks from tighter US Federal Reserve monetary policy and the war in Ukraine.
Nifty Next 50 and Nifty Smallcap 100 closed in the green following the benchmark index. Nifty Bank, which opened lower, closed over 2% higher. Nifty IT closed in the green, tracking the tech-focused NASDAQ 100 Futures, which is trading higher.
Nifty 50 closed at 17,670.45 (205.7, 1.2%), BSE Sensex closed at 59,276.69 (708.2, 1.2%) while the broader Nifty 500 closed at 15,087.30 (192.8, 1.3%)
Market breadth is ticking up strongly. Of the 1,880 stocks traded today, 1,591 were on the uptrend, and 271 went down.
Saregama India, Max Healthcare Institute, Macrotech Developers, and Gland Pharma are trading with higher volumes as compared to Thursday.
Tata Motors’ total commercial vehicle wholesales rise 16% YoY to 47,050 units and total domestic passenger vehicle wholesales rises 43% YoY to 42,293 units in March 2022. For FY22, the company's total commercial vehicles wholesales rise 36% YoY to 3,56,972 units and total domestic passenger vehicle wholesales rise 67% YoY to 3,70,372 units.
Mahindra & Mahindra’s March 2022 total auto wholesales rise 42.2% YoY to 54,643 units, while total farm equipment wholesales fall 4% YoY to 29,763 units. For FY22, the company’s total auto wholesales rise 32.1% YoY to 4,65,601 units and total farm equipment wholesales were flat YoY at 3,54,698 units.
Hariom Pipes' Rs 130.1-crore IPO gets bids for 1.88X of the available 85 lakh shares on offer on the third day of bidding. Retail investors put in bids for 4.66X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.
APL Apollo Tubes' Q4FY22 sales volume rises 27% YoY to 5,51,723 tonnes. Additionally, sales volume rises 7% YoY to 17.5 lakh tonnes for full-year FY22. Apollo structures and Apollo Z segments contribute to the rise in volumes in Q4FY22. The company looks to raise share of value added products in the overall sales mix to 75% from 63% currently in medium term.
Ashok Leyland’s total March 2022 wholesales rise 17% YoY to 20,123 units and total medium and heavy commercial vehicle wholesales rise 26% to 13,990 units. For FY22, the company’s total wholesales rise 27% to 1,28,326 units and total medium and heavy commercial vehicle wholesales rise 43% to 73,885 units.
Maruti Suzuki’s total wholesales rise 2% YoY to 1,70,395 units but total passenger vehicle wholesales fall 8.4% to 1,33,862 units in March 2022. For FY22, the company's total wholesales rise 13.4% to 16,52,653 units and total passenger vehicle wholesales rise 2.9% to 12,93,840 units. The shortage of electronic components affected the production of vehicles in FY22.
IOL Chemicals and Pharmaceuticals is trading with more than eight times its weekly average trading volume. Galaxy Surfactants, Suprajit Engineering, IIFL Wealth Management, and DCM Shriram Industries are trading at more than four times their weekly average trading volumes.
Hindustan Aeronautics records revenue growth of 6% YoY to Rs 24,000 crore in FY22. The company also receives two separate contracts worth Rs 3,887 crore to develop light combat helicopters from Ministry of Defence for Indian Air Force and Indian Army.
Motilal Oswal maintains a ‘BUY’ rating on ACC with a target price of Rs Rs 2,470, indicating an upside of 15%. The brokerage has a positive outlook on the company as the company’s total operating profits rose only 3% YoY in FY22 to Rs 4,552/tonne despite a significant increase in key input costs.
Lupin’s New Jersey manufacturing unit, Novel Laboratories receives 13 observations after the conclusion of the US Food and Drug Administration (USFDA) facility inspection. The company must now address the observations and work closely with USFDA to address its concerns.
Government of Singapore and Smaller Cap World Fund buy 1.08 crore and 1.64 crore shares respectively of Max Healthcare at an average price of Rs 340 apiece in a bulk deal on Thursday.
Escorts’ total tractor wholesales fall 18.3% YoY to 10,047 units in March 2022 on subdued commercial demand. Its domestic tractor wholesales fall 19.2% YoY to 9,483 units and tractor exports by 2.6% YoY to 591 units.
Future Retail’s CEO Sadashiv Nayak resigns without citing any reason for his exit. The resignation is effective from the closure of business hours on March 31, 2022.
Riding High:
Largecap and midcap gainers today include Adani Power Ltd. (203.45, 9.91%), Bharat Heavy Electricals Ltd. (53.85, 9.12%) and Bajaj Holdings & Investment Ltd. (5,398.85, 7.74%).
Downers:
Largecap and midcap losers today include Atul Ltd. (9,870.05, -4.10%), Ipca Laboratories Ltd. (1,027.40, -3.60%) and Alkem Laboratories Ltd. (3,493.20, -3.52%).
Crowd Puller Stocks
19 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included IOL Chemicals and Pharmaceuticals Ltd. (424.40, 19.99%), Spandana Sphoorty Financial Ltd. (396.75, 19.54%) and Lux Industries Ltd. (2,533.15, 15.62%).
Top high volume loser on BSE was Saregama India Ltd. (4,816.20, -0.23%).
NCC Ltd. (64.95, 10.93%) was trading at 6.6 times of weekly average. DCM Shriram Ltd. (1,192.10, 5.49%) and Restaurant Brands Asia Ltd. (112.75, 11.91%) were trading with volumes 6.0 and 5.9 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
16 stocks took off, crossing 52-week highs, while 1 stock tanked below its 52-week lows.
Stocks touching their year highs included - Adani Power Ltd. (203.45, 9.91%), Cummins India Ltd. (1,136.70, 1.37%) and Delta Corp Ltd. (333.00, 0.89%).
Stock making new 52 weeks lows included - Procter & Gamble Health Ltd. (4,166.40, 4.10%).
25 stocks climbed above their 200 day SMA including Sunteck Realty Ltd. (487.50, 11.62%) and Laxmi Organic Industries Ltd. (436.45, 9.28%). 4 stocks slipped below their 200 SMA including Alkem Laboratories Ltd. (3,493.20, -3.52%) and BASF India Ltd. (3,031.00, -2.00%).