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    Trendlyne Marketwatch
    25 Apr 2022
    Market closes lower, RailTel Corporation of India bags order worth Rs 122.08 crore

    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%).

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    Trendlyne Marketwatch
    22 Apr 2022, 03:50PM
    Market closes lower, Zen Technologies rises on winning an order worth Rs 55 crore

    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%).

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    Trendlyne Marketwatch
    21 Apr 2022
    Market closes higher, ICICI Direct maintains ‘Buy’ on PCBL

    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%).

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    Trendlyne Marketwatch
    20 Apr 2022
    Market closes higher, Alembic Pharma gets USFDA approval to market generic drug

    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%).

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    Trendlyne Marketwatch
    19 Apr 2022
    Market closes lower, Procter & Gamble appoints L. V. Vaidyanathan as Managing Director

    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%).

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    Trendlyne Marketwatch
    18 Apr 2022
    Market closes lower, ICICI Sec retains 'ADD' on Hindustan Unilever

    Market closes lower, ICICI Sec retains 'ADD' on Hindustan Unilever

    Trendlyne Analysis

    Nifty 50 closed sharply lower with the Indian volatility index, India VIX rising by 7.7%. Most Asian indices closed lower as investors continue to monitor high inflation levels and tighter monetary policies from global central banks. China’s economy grows 4.8% in the first quarter of 2022, beating expectations but officials warned of "significant difficulties and challenges" ahead as the country is combating Covid-19. Crude oil prices continue to trade at elevated levels as concerns grow about tighter global supply with the prospect of heavier sanctions by the West on top exporter, Russia. Investors also look forward to the latest earnings season as they assess the impact of inflation on company profit.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Metal closed higher while Nifty Bank closed in the red. Nifty IT closed sharply lower with Infosys falling over 7% after its Q4FY22 results missed Trendlyne Forecaster's estimates.

    Nifty 50 closed at 17,173.65 (-302, -1.7%), BSE Sensex closed at 57,166.74 (-1,172.2, -2.0%) while the broader Nifty 500 closed at 14,926.05 (-212.5, -1.4%)

    Market breadth is in the red. Of the 1,930 stocks traded today, 726 were on the uptrend, and 1,172 went down.

    • India’s wholesale price-based inflation rises to 14.55% in March 2022 against 13.11% in February 2022 and 7.89% in March 2021.

    • J B Chemicals & Pharmaceuticals, Honeywell Automation India, Vijaya Diagnostic Centre, and Thyrocare Technologies are trading with higher volumes as compared to Wednesday.

    • Man Infraconstruction receives letter of acceptance (LoA) from Bharat Mumbai Container Terminal for phase two of 'reclamation - construction works' worth Rs 402 crore. The company previously received LoA for phase one on April 13, worth Rs 937.89 crore.

    • PSU Banks stocks like SBI, Canara Bank, Bank of Baroda, Indian Bank and Bank of India are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in red.

    • ICICI Securities maintains an 'ADD' rating on Hindustan Unilever with a target price upside of 14%. The brokerage believes that the rural demand for HUL will recover in FY23 as agri-inflation might boost farm incomes. Additionally, the company's focus on premium products and enhancing its e-commerce presence bodes well for it in the medium-term

    • Sangam (India), H P Cotton Textiles Mills, and Trident receive approval for production-linked incentive scheme for textile under part-1 from the Ministry of Textiles. Under the scheme, companies' are required to make a minimum investment of Rs 300 crore and achieve a minimum turnover of Rs 600 crore over five years from the year of approval.

    • IT stocks like Infosys, L&T Technology Services, and HCL Technologies, among others, are falling in trade after Infosys Q4FY22 results missed Trendlyne Forecaster's estimates. All 10 constituents of Nifty IT are trading in red.

    • G R Infraprojects is trading with more than 19 times its weekly average trading volume. Hatsun Agro Products, Capri Global Capital, JK Paper, and Borosil Renewables are trading at more than four times their weekly average trading volumes.

    • Ratnamani Metals & Tubes receives new domestic and export orders worth Rs 338 crore to be executed in FY23.

    • Maruti Suzuki India announces a price hike of 1.3% across its models due to rise in input costs. The revised prices come into effect from today.

    • Mahindra & Mahindra announces a price hike of 2.5% on its range of vehicles effective from April 14 due to a continuous increase in prices of key commodities such as steel, aluminium, and palladium. The company said the price hike will increase ex-showroom prices across models by Rs 10,000 to Rs 63,000.

    • ICICI Prudential Life Insurance’s Q4FY22 revenue falls 32.5% YoY to Rs 12,835.3 crore but profit rises 198.8% YoY to Rs 186.8 crore on robust growth in new business. In FY22, revenue falls 25.6% YoY to Rs 61,280.8 crore and profit falls by 20.6% YoY to Rs 759.2 crore. However, the value of new business (VNB) rises 33.4% YoY to Rs 2,163 crore in FY22.

    • UltraTech Cement’s wholly-owned subsidiary, UltraTech Cement Middle East Investments (UCMEI) acquires a 29.39% stake in RAK Cement Co. for White Cement and Construction Material PSC (RAKWCT) for $101 million. This acquisition increases UCMEI’s total shareholding in RAKWCT to 29.79%.

    • HDFC Bank’s Q4FY22 net profit rises 23% YoY to Rs 10,055.2 crore as loans and advances grow 21% YoY to Rs 13.68 lakh crore, and provisions fall 29.4% to Rs 3,312.4 crore. Net interest income rises 10% YoY to Rs 18,872.7 crore, while gross NPAs fall 15 bps YoY to 1.17% and provisions fall by 29.4% YoY. 

    • Infosys’ Q4FY22 revenue rises 1.6% QoQ to Rs 32,913 crore and profit rises 2.8 % QoQ Rs 5,686 crore. Its operating profit margin falls 200 bps as its attrition rate increases to 27.7%, a record high.

    Riding High:

    Largecap and midcap gainers today include NTPC Ltd. (163.20, 6.01%), Adani Power Ltd. (234.40, 4.99%) and JSW Energy Ltd. (342.15, 4.99%).

    Downers:

    Largecap and midcap losers today include Infosys Ltd. (1,621.40, -7.27%), Tata Elxsi Ltd. (7,815.95, -6.77%) and Bajaj Holdings & Investment Ltd. (5,204.40, -5.67%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Capri Global Capital Ltd. (736.95, 17.28%), Network 18 Media & Investments Ltd. (103.00, 9.81%) and NTPC Ltd. (163.20, 6.01%).

    Top high volume losers on BSE were Infosys Ltd. (1,621.40, -7.27%), MphasiS Ltd. (2,879.90, -5.60%) and MindTree Ltd. (3,957.50, -3.45%).

    ZF Commercial Vehicle Control Systems India Ltd. (7,649.25, -0.17%) was trading at 16.8 times of weekly average. Hatsun Agro Products Ltd. (1,074.30, 3.68%) and JK Paper Ltd. (365.10, 5.93%) were trading with volumes 13.2 and 6.9 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    21 stocks overperformed with52-week highs,

    Stocks touching their year highs included - Bharat Electronics Ltd. (254.95, 3.18%), Chambal Fertilisers & Chemicals Ltd. (507.00, 6.82%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (710.30, 5.00%).

    11 stocks climbed above their 200 day SMA including Sterling and Wilson Renewable Energy Ltd. (377.45, 4.30%) and Cochin Shipyard Ltd. (353.30, 2.82%). 32 stocks slipped below their 200 SMA including Alok Industries Ltd. (25.05, -9.40%) and Infosys Ltd. (1,621.40, -7.27%).

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    Trendlyne Marketwatch
    13 Apr 2022
    Market closes lower, Motilal Oswal maintains a ‘Buy’ rating on IIFL Wealth Management

    Market closes lower, Motilal Oswal maintains a ‘Buy’ rating on IIFL Wealth Management

    Trendlyne Analysis

    Nifty 50 closes in the red amid weak global cues. Asian shares closed mixed as investors continue to digest Tuesday’s US inflation data, which showed that the consumer price index (CPI) rose 8.5% YoY in March, its highest level since 1981. India’s retail inflation print rises 6.95% YoY in March, led by a sharper than the expected spike in food and manufactured goods prices. Crude oil prices rise as Russian President, Vladimir Putin vowed to continue the invasion of Ukraine and China partially eased its Covid-19 lockdown. Investors also look forward to the latest earnings season as they assess the impact of inflation on company profit. UK inflation rate rises 7% YoY in March, its highest since 1992.

    Nifty Smallcap 100 closed in the green, despite the benchmark index closing lower. Nifty Realty extends its losses and closes in the red. Nifty IT closes higher, taking cues from the NASDAQ 100 Futures, which are trading higher.

    Nifty 50 closed at 17,475.65 (-54.7, -0.3%), BSE Sensexclosed at 58,338.93 (-237.4, -0.4%) while the broader Nifty 500 closed at 15,138.55 (-26.2, -0.2%)

    Market breadth is in the green. Of the 1,894 stocks traded today, 1,047 were on the uptick, and 804 were down.

    • KEC International, TeamLease Services, Cholamandalam Financial Holdings, and CCL Products India are trading with higher volumes as compared to Tuesday.

    • Yes Securities maintains 'Buy' on SBI Cards and Payment Services with a target price of Rs 1,210 indicating an upside 45%, according to reports. The brokerage has a positive outlook on the company on the back of strong acquisitions and a sharp recovery in both retail and corporate spending.

    • HDFC Securities expects power sector companies like NTPC, Power Grid, Tata Power, CESC, Torrent Power, JSW Energy, and NHPC to report strong profit growth in Q4FY22,. The brokerage expects better power demand in the latter part of the quarter and overall improved merchant realisations to boost profits. The brokerage expects revenue for these power companies to rise 7.5% YoY and profits to rise 30.8% YoY during Q4FY22.

    • Oil India and Oil and Natural Gas Corporation (ONGC) surge as Brent crude oil prices rise amid reports of supply disruption due to the geopolitical conflict in Ukraine and easing of lockdown curbs in parts of China. Brent crude oil is currently trading at $ 105.

    • Motilal Oswal maintains a ‘Buy’ rating on IIFL Wealth Management with a target price of Rs 2,200, indicating an upside of 20.6%. The brokerage believes the company is well placed to benefit from the interest rates remaining low and an increasing number UNHIs (ultra-high net worth individuals) preferring organized wealth management platforms to invest in.

    • Ambuja Cements, Bharat Electronics, NTPC, Hindustan Aeronautics, and Au Small Finance Bank are in overbought zone according to technical indicator relative strength index or RSI.

    • Axis Securities expects pharmaceutical companies like Dr Reddy’s, Lupin, Cipla, and Aarti Drugs to report high single-digit revenue growth YoY in Q4FY22. The brokerage expects EBITDA margins of pharma companies to remain under pressure due to elevated prices of organic chemicals and solvents as a result of Russia-Ukraine war.

    • Vakrangee is trading with more than seven times its weekly average trading volume. JM Financial, J B Chemicals & Pharmaceuticals, Avanti Feeds and RHI Magnesita India are trading at more than four times their weekly average trading volumes.

    • Axis Securities maintains a ‘Buy’ rating on Tata Consultancy Services (TCS) with a target price of Rs 4,200, indicating an upside of 14%. The brokerage maintains a positive outlook on the company as the company's Q4FY22 revenue growth beat its expectations. The brokerage expects the positive growth trend to continue for the company supported by strong traction in all of its business verticals, and a robust deal pipeline in the coming quarters.

    • Prestige Estates Projects' presales increase 77% YoY to Rs 3,268.7 crore in Q4FY22 and rises 90% YoY to Rs 10,382.2 crore in FY22. In Q4FY22, the company's launches increase 6% YoY to 5.01 million square feet and in FY22 launches rise by 42% to 16.77 million square feet.

    • Anand Rathi Wealth’s Q4FY22 net profit rises 8% QoQ to Rs 34.6 crore and revenues increase by 6% to Rs 114.7 crore. Mutual funds’ (equity and debt) asset under management (AUM) value increases 2.8% YoY to Rs 19,435 crore. The company also announces an interim dividend of Rs 6 per share.

    • Directorate General of Civil Aviation (DGCA) bars 90 SpiceJet pilots, according to reports, from flying Boeing 737 Max aircraft until the completion of their training to DGCA’s satisfaction. This comes in light after DGCA finds anomalies in the simulator training of the airplane that takes place in Noida. SpiceJet currently has 650 trained pilots to fly Boeing 737 Max which won’t affect its daily operations.

    • Hariom Pipe Industries’ shares list at 43.8% premium to the issue price of Rs 153 on its debut on the bourses after getting bids for 8X of total shares on offer.

    • Hathway Cable and Datacom’s Q4FY22 revenue rises 2.3% YoY to Rs 448.79 crore and profit falls 60.6% YoY to Rs 28.42 crore on increasing input costs. In FY22, revenue rises 3.5% YoY to Rs 1,793.02 crore and profit falls 48.5% YoY to Rs 130.35 crore.

    • Mahanagar Gas increases the prices of compressed natural gas by Rs 5 per kg and piped natural gas by Rs 4.5 per standard cubic metre for Mumbai and nearby areas. The prices are in effect from April 12, 2022. This is the second price hike taken by the company in April 2022.

    Riding High:

    Largecap and midcap gainers today include Hindustan Zinc Ltd. (352.45, 3.56%), Indraprastha Gas Ltd. (389.90, 3.30%) and Ruchi Soya Industries Ltd. (952.60, 3.18%).

    Downers:

    Largecap and midcap losers today include JSW Energy Ltd. (325.90, -4.67%), Adani Power Ltd. (223.25, -3.27%) and Bajaj Holdings & Investment Ltd. (5,517.05, -3.19%).

    Volume Shockers

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

    Top high volume gainers on BSE included Thermax Ltd. (2,229.85, 11.69%), Vakrangee Ltd. (37.70, 10.88%) and CreditAccess Grameen Ltd. (1,036.15, 9.72%).

    Top high volume loser on BSE was Emami Ltd. (465.55, -2.37%).

    PNB Housing Finance Ltd. (412.35, 6.94%) was trading at 7.5 times of weekly average. JM Financial Ltd. (71.00, 2.60%) and Avanti Feeds Ltd. (494.65, 6.51%) were trading with volumes 7.5 and 7.3 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    16 stocks overperformed with 52-week highs,

    Stocks touching their year highs included - Bharat Electronics Ltd. (247.10, 1.94%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (676.50, 4.99%) and GHCL Ltd. (573.40, 4.19%).

    17 stocks climbed above their 200 day SMA including Vakrangee Ltd. (37.70, 10.88%) and Sterling and Wilson Renewable Energy Ltd. (361.90, 3.64%). 19 stocks slipped below their 200 SMA including Nesco Ltd. (587.80, -3.00%) and Galaxy Surfactants Ltd. (2,966.55, -2.25%).

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    Trendlyne Marketwatch
    12 Apr 2022
    Market closes lower, Axis Securities maintains a ‘Buy’ on PSP Projects

    Market closes lower, Axis Securities maintains a ‘Buy’ on PSP Projects

    Trendlyne Analysis

    Indian indices closed in the red amid weak global cues. Most Asian indices closed lower as investors continue to monitor high inflation, tighter monetary policy, and the Covid-19 lockdowns in China. US shares extended their losses on Monday with the ten-year US Treasury yield rising to a three-year high ahead of the US inflation print release later today. Crude oil prices fall as ongoing Covid-19 lockdowns in China impact fuel demand. The pan-European index, STOXX 600 trades in the red, following the global trend, with bank stocks among the worst hit.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Metal closed sharply lower than Monday’s level. Nifty Energy, which opened higher, ended the trading session in the red. Nifty IT also closed in the red, taking cues from the tech-heavy NASDAQ 100, which fell 2.35% on Monday.

    Nifty 50 closed at 17,530.30 (-144.7, -0.8%), BSE Sensex closed at 58,576.37 (-388.2, -0.7%) while the broader Nifty 500 closed at 15,164.70 (-160.8, -1.1%)

    Market breadth is highly negative. Of the 1,897 stocks traded today, 438 were on the uptick, and 1,436 were down.

    • Saregama India, Blue Star, Gland Pharma, and CCL Products India are trading with higher volumes as compared to Monday.

    • Coal India’s capex rises 12% YoY to Rs 14,834 crore in FY22, which is 101% of the set target and the highest spend so far. The FY22 capex boost was to increase production to meet the rise in coal demand. The entire capex was met through internal accruals.

    • ICICI Securities expects chemical sector companies like SRF, Aarti Industries, Tata Chemicals, and PI Industries to report positive Q4FY22 results. As chemical companies are carrying inventories for at least a quarter ahead, which may have minimal impact on margins from high crude oil prices. The brokerage expects a healthier demand environment across end-user industries to drive strong revenue growth in Q1FY23.

    • CreditAccess Grameen’s gross loan portfolio (GLP) in March 2022 grows by 22% YoY to Rs 16,601 crore and disbursements grow 25% YoY to Rs 2,257 crore. The branch network grows 15% YoY to 1,638 branches in March 2022, the new branches primarily opening across newer markets.

    • Aditya Birla Capital's overall NBFC and Housing finance business lending book grows 10% YoY to Rs 66,900 crore in Q4FY22. The company's NBFC business' loan book grows 13% YoY to Rs 54,900 crore. In insurance business, individual first year Premium grows 13% YoY Rs 2,200 crore and gross written premium grows 33% YoY to Rs 1740 crore in FY22. The overall active customer base increases 46% YoY to 35 million customers.

    • Telecom stocks such as Bharti Airtel and Vodafone Idea are trading lower despite TRAI (Telecom Regulatory Authority of India) recommending slashing base prices in 5G spectrum auctions by nearly 40%. The new base price Rs 317 crore per MHz is still higher compared to price for 5G spectrum globally, according to reports.

    • Axis Securities maintains a ‘Buy’ rating on PSP Projects with a target price of Rs 620, indicating an upside of 11%. The brokerage remains bullish on the company due to its robust and diversified order book, track record of successful project executions and healthy financials to support future growth.

    • Rites is trading with more than eight times its weekly average trading volume. Indigo Paints, Cochin Shipyard, TCNS Clothing Co., and Mazagon Dock Shipbuilders are trading at more than three times their weekly average trading volumes.

    • Sunteck Realty’s pre-sales bookings surge 36% YoY to Rs 503 crore in Q4FY22. Collections rise 35% YoY to Rs 1,053 crore. Management expects growth in pre-sales and collections to continue with new project launches lined up for FY23.

    • Metal stocks like Hindalco Industries, Vedanta, National Aluminium Company, and Tata Steel, among others, are falling in trade. The broader sectoral index Nifty Metal is also trading in red.

    • Delta Corp’s Q4FY22 revenue grows 3.3% YoY to Rs 218.32 crore, but profit falls by 16.7% YoY to Rs 48.11 crore. In FY22, revenue grows 47% YoY to Rs 616.13 crore led by the casino gaming division and records a profit of Rs 66.99 crore as opposed to a loss of Rs 24.1 crore in FY21.

    • JSW Steel's arm JSW Utkal Steel gets environmental clearance to set up its greenfield integrated steel plant with a capacity of 13.2 million tonnes per annum (MTPA) of crude steel. The total capital expenditure on this project will be around Rs 65,000 crore.

    • Tata Consultancy Services’ Q4FY22 net profit rises 1.6% QoQ to Rs 9,926 crore with total revenue increasing 3.5% QoQ to Rs 50,591 crore. However, total expense rises 3.5% QoQ to Rs 38,308 crore as employee expenses increase 4.4% to Rs 28,353 crore.

    Riding High:

    Largecap and midcap gainers today include Adani Green Energy Ltd. (2,792.40, 4.77%), Bandhan Bank Ltd. (333.45, 3.28%) and Varun Beverages Ltd. (983.90, 3.24%).

    Downers:

    Largecap and midcap losers today include Bajaj Holdings & Investment Ltd. (5,698.80, -7.34%), Sanofi India Ltd. (7,314.55, -7.17%) and Adani Total Gas Ltd. (2,502.05, -6.11%).

    Movers and Shakers

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

    Top high volume gainers on BSE included Just Dial Ltd. (883.95, 10.00%), Mazagon Dock Shipbuilders Ltd. (328.80, 8.87%) and Cochin Shipyard Ltd. (351.05, 5.39%).

    Top high volume losers on BSE were Birlasoft Ltd. (460.50, -7.24%) and TeamLease Services Ltd. (3,891.55, -0.73%).

    Rites Ltd. (277.65, 4.13%) was trading at 11.0 times of weekly average. Indigo Paints Ltd. (1,640.95, 0.97%) and TCNS Clothing Co. Ltd. (849.90, 3.94%) were trading with volumes 7.2 and 5.4 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    11 stocks overperformed with 52-week highs,

    Stocks touching their year highs included - Adani Transmission Ltd. (2,680.55, -2.76%), Chambal Fertilisers & Chemicals Ltd. (458.35, -3.75%) and Crisil Ltd. (3,430.50, -0.71%).

    11 stocks climbed above their 200 day SMA including Just Dial Ltd. (883.95, 10.00%) and Cochin Shipyard Ltd. (351.05, 5.39%). 21 stocks slipped below their 200 SMA including Birlasoft Ltd. (460.50, -7.24%) and Sanofi India Ltd. (7,314.55, -7.17%).

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    Trendlyne Marketwatch
    11 Apr 2022
    Market closes lower, Axis Securities rates 'Buy' on Westlife Development

    Market closes lower, Axis Securities rates 'Buy' on Westlife Development

    Trendlyne Analysis

    Indian indices closed in the red with the Indian volatility index, India VIX rising. Most Asian indices closed lower ahead of an eventful week packed with central bank meetings and US inflation data release. Investors are also keeping an eye on the developments in China, where Shanghai is under a strict lockdown to curb Covid-19 cases. Crude oil prices head for a second straight weekly decline after member nations of the International Energy Agency plan to release 60 million barrels over the next six months to reduce the impact of supply chain disruption of Russian oil. European indices trade mixed as investors monitor French political uncertainty, an upcoming ECB policy meeting as well as the ongoing Ukraine conflict.

    Nifty Next 50 closed in the green, despite the benchmark index closing lower. Nifty Bank closed in the red, while Nifty Media closed higher than Friday’s level. Nifty IT closed sharply lower, tracking the tech-heavy NASDAQ 100, which fell 1.41% on Friday.

    Nifty 50 closed at 17,674.95 (-109.4, -0.6%), BSE Sensex closed at 58,964.57 (-482.6, -0.8%) while the broader Nifty 500 closed at 15,325.50 (-16.9, -0.1%)

    Market breadth is in the green. Of the 1,923 stocks traded today, 1,048 were on the uptick, and 840 were down.

    • AIA Engineering, Galaxy Surfactants, Narayana Hrudayalaya, and Blue Star are trading with higher volumes as compared to Friday.

    • Sandur Manganese & Iron Ores surges as the company enters into a power purchase agreement and share subscription and share holding agreement with Renew Green Energy Solutions for the supply of solar and wind power. The company also announces right issue of 1.8 crore equity shares.

    • Edelweiss upgrades IndusInd Bank’s rating to ‘Buy’ from ‘Neutral’ and increases its target price by 11% to Rs 1,100 as its loan advances rise 13% YoY to Rs 2.4 lakh crore at the end of Q4FY22. The brokerage expects net NPA ratio to decline in Q4FY22.

    • Axis Securities initiates coverage on Westlife Development with a ‘Buy’ rating and a target price of Rs 625, indicating an upside of 30%. The brokerage believes the company is well-placed to capture QSR (Quick Service Restaurant) space opportunities. The brokerage is bullish on the company’s ability to innovate new products, capitalise on the rapidly growing delivery channel and penetrate fast-growing tier 2 & 3 cities.

    • Ruchi Soya is rising as its board approves enhancing synergies with Patanjali Ayurved's food business "on an arm's length basis". Although the company didn't specify what this transaction could be, the board authorises the comapny officials to negotiate and execute the transaction. The board also approved changing name of Ruchi Soya to Patanjali Foods.

    • Godfrey Phillips India is trading with more than 33 times its weekly average trading volume. Gujarat Ambuja Exports, Syngene International, Ambuja Cements, and Advanced Enzyme Technologies are trading at more than two times their weekly average trading volumes.

    • Glenmark Pharmaceuticals rises as its subsidiary Glenmark Specialty S.A receives approval from the Drug Controller General of India (DCGI) to conduct a phase 1 trial of its novel small molecule, GRC 54276. This molecule will be used to treat patients with advanced solid tumours and Hodgkins’s Lymphoma.

    • IT stocks like Infosys, L&T Technology Services, HCL Technologies, and Larsen & Toubro Infotech, among others, are falling in trade. The broader sectoral index Nifty IT is also trading in red.

    • Jindal Steel and Power rises as the company plans to setup India's second coal gasification plant at its Raigarh plant in Chhattisgarh, according to news reports. The company also intends to begin commercial operations in four of its eight coal mines (owned) so as to save on cost of acquiring thermal coal.

    • GTPL Hathway’s Q4FY22 revenue falls 17.5% YoY to Rs 617.3 crore and profit falls 4.3% YoY to Rs 54.5 crore largely due to a fall in EPC (Evolved Packet Core) project business. In FY22, revenue falls 2.1% YoY to Rs 2,414.1 crore but profit rises 6.1% YoY to Rs 199.6 crore.

    • Veranda Learnings’ shares list at 14.6% premium to the issue price of Rs 137 on its debut on the bourses after getting bids for 3.5X of total shares on offer.

    • Tata Motor’s wholly-owned subsidiary, Jaguar Land Rover’s (JLR) retail sales fall 36% YoY to 79,008 units in Q4FY22 due to global semiconductor shortage. JLR’s FY22 retail sales fall 14.4% YoY to 376,381 units.

    • Sobha’s Q4FY22 total sales volume rises 3.5% YoY to Rs 1,109.6 crore with average price realization increasing 3.1% YoY to Rs 8,265 per square feet. The company’s sales bookings in volumes grow 0.35% to 13.42 lakh square feet in Q4FY22 with maximum bookings coming in from Bengaluru (9.32 lakh square feet). The company attributes this growth to consistent rise in housing demand, low home loan rates, and improving economy.

    Riding High:

    Largecap and midcap gainers today include Adani Green Energy Ltd. (2,665.15, 14.79%), Adani Total Gas Ltd. (2,665.00, 9.80%) and Adani Transmission Ltd. (2,756.50, 8.51%).

    Downers:

    Largecap and midcap losers today include L&T Technology Services Ltd. (4,798.85, -3.89%), YES Bank Ltd. (15.10, -3.51%) and Deepak Nitrite Ltd. (2,287.60, -3.14%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Godfrey Phillips India Ltd. (1,234.70, 13.51%), Ambuja Cements Ltd. (360.20, 6.77%) and Advanced Enzyme Technologies Ltd. (316.55, 5.04%).

    Top high volume loser on BSE was Indigo Paints Ltd. (1,625.25, -2.89%).

    Shriram City Union Finance Ltd. (1,753.20, 0.58%) was trading at 8.2 times of weekly average. VST Industries Ltd. (3,148.95, 0.65%) and Prism Johnson Ltd. (129.90, 3.01%) were trading with volumes 8.2 and 7.6 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    26 stocks overperformed with 52-week highs,

    Stocks touching their year highs included - Adani Transmission Ltd. (2,756.50, 8.51%), Bank of Baroda (120.30, 0.00%) and Bharat Electronics Ltd. (243.95, 1.82%).

    27 stocks climbed above their 200 day SMA including Godfrey Phillips India Ltd. (1,234.70, 13.51%) and PCBL Ltd. (129.55, 8.14%). 4 stocks slipped below their 200 SMA including HCL Technologies Ltd. (1,133.50, -2.73%) and SBI Life Insurance Company Ltd. (1,142.50, -1.55%).

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    Trendlyne Marketwatch
    08 Apr 2022
    Market closes higher, RBI keeps repo rates at 4%, hikes reverse repo rate to 3.75%

    Market closes higher, RBI keeps repo rates at 4%, hikes reverse repo rate to 3.75%

    Trendlyne Analysis

    Nifty 50 closed in the green after gyrating between gains and losses. Most Asian stocks closed in the red as investors continue to monitor both Federal Reserve’s plan to tighten its monetary policy and the latest Covid-19 outbreak in China. US stocks closed higher on Thursday as buying pressure picked up towards the end of the trading session. Reserve Bank of India (RBI) keeps the repo rate unchanged at 4% to maintain an ‘accommodative stance’ for economic growth. However, RBI increases reverse repo rate by 40 bps to 3.75% to maintain liquidity in the market.

    Nifty Smallcap 100 and Nifty Midcap 100 close in the green, following the benchmark index. Nifty Metal and Nifty Media close higher than Thursday’s level. Nifty IT closes flat, taking cues from the tech-heavy NASDAQ 100 futures, which is also trading flat.

    Nifty 50 closed at 17,784.35 (144.8, 0.8%), BSE Sensex closed at 59,447.18 (412.2, 0.7%) while the broader Nifty 500 closed at 15,342.40 (141.2, 0.9%)

    Market breadth is overwhelmingly positive. Of the 1,886 stocks traded today, 1,273 were on the uptick, and 576 were down.

    • Cholamandalam Financial Holdings, AIA Engineering, Phoenix Mills, and Shriram Transport Finance Company are trading with higher volumes as compared to Thursday.

    • If the proposed merger goes through, PVR and INOX could look into film production and enlarge its distribution and food & beverage business to diversify its revenue streams says management of both companies, according to reports.

    • Sterling and Wilson Renewable Energy's Q4FY22 loss narrows 63.2% YoY to Rs 126.61 crore and revenue falls 21.5% YoY to Rs 1,071 crore. In FY22, revenue rises 2.33% YoY to 5,198.94 crore and loss widens to Rs 909.46 crore from Rs 285.38 crore in FY21.

    • Varroc Engineering is trading with more than ten times its weekly average trading volume. TCNS Clothing Co., Bharat Dynamics, Syngene International, and Cholamandalam Investment & Finance Company are trading at more than six times their weekly average trading volumes.

    • Sobha reports flat sales volumes of 1.342 million square feet with sales booking value rising 3.5% YoY Rs 1,109.6 crore. Bengaluru market’s contribution was the highest with sales volumes increasing to 0.932 million square feet up by 4.4% YoY. The sales volumes for the Gurgaon market jump 44% YoY to 0.234 msf. 

    • JSW Steel’s total steel crude production in Q4FY22 grows 37% YoY to 5.98 million tonnes (MT). In FY22, the total steel crude production grows 38% YoY to 21.47 MT.

    • RBI keeps repo rate constant at 4% for the 11th consecutive time to maintain an ‘accommodative stance’ for economy growth. However, reverse repo rate increases 40 bps to 3.75% to maintain liquidity in the market. Marginal Standing Facility (MSF) and bank rate stay the same at 4.25%.

    • Lupin launches Merzee capsules in the US market, under an exclusive license, marketing, and distribution agreement with Slayback Pharma. Merzee is a generic contraceptive drug, equivalent to Allergan Pharmaceuticals' Taytulla capsules.

    • Jindal Stainless’ sales volumes rise 6% YoY to 2.7 lakh tonnes in Q4FY22 because of its agile supply chain and a favourable product mix. The company’s exports increase 32% in Q4FY22 despite global disruptions in raw material supply and logistics.

    Riding High:

    Largecap and midcap gainers today include Ruchi Soya Industries Ltd. (923.45, 12.93%), Cholamandalam Investment & Finance Company Ltd. (741.75, 8.01%) and Adani Green Energy Ltd. (2,321.85, 7.20%).

    Downers:

    Largecap and midcap losers today include Adani Power Ltd. (220.95, -4.99%), Trent Ltd. (1,269.65, -2.91%) and Cipla Ltd. (1,011.60, -2.42%).

    Movers and Shakers

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

    Top high volume gainers on BSE included Bharat Dynamics Ltd. (716.15, 15.35%), Ruchi Soya Industries Ltd. (923.45, 12.93%) and Ceat Ltd. (1,124.45, 12.89%).

    Top high volume losers on BSE were RBL Bank Ltd. (128.10, -6.63%), Escorts Ltd. (1,610.20, -6.12%) and TCNS Clothing Co. Ltd. (791.80, -0.49%).

    Mishra Dhatu Nigam Ltd. (201.75, 8.97%) was trading at 12.0 times of weekly average. Varroc Engineering Ltd. (398.90, 8.99%) and JK Tyre & Industries Ltd. (135.95, 12.17%) were trading with volumes 11.5 and 7.4 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    17 stocks overperformed with 52-week highs,

    Stocks touching their year highs included - Bharat Electronics Ltd. (239.60, 2.24%), Cholamandalam Investment & Finance Company Ltd. (741.75, 8.01%) and Indian Hotels Company Ltd. (253.85, 1.42%).

    19 stocks climbed above their 200 day SMA including Mishra Dhatu Nigam Ltd. (201.75, 8.97%) and Sterling and Wilson Renewable Energy Ltd. (367.35, 6.56%). 2 stocks slipped below their 200 SMA including V Mart Retail Ltd. (3,560.10, -1.32%) and Cera Sanitaryware Ltd. (4,708.50, 0.60%).

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