• Trendlyne logo
  • Markets
  • Alerts
  • F&O
  • MF
  • Reports
  • Screeners
  • Subscribe
  • Superstars
  • Portfolio
  • Watchlist
  • Insider Trades
  • Results
  • Data Downloader
  • Events Calendar
  • What's New
  • Explore
  • FAQs
  • Widgets
More
    Search stocks
    IND USA
    IND
    IND
    IND
    USA
    • Stocks
    • Futures & Options
    • Mutual Funds
    • News
    • Fundamentals
    • Reports
    • Corporate Actions
    • Alerts
    • Shareholding

    Trendlyne Marketwatch

    0
    Stocks Tracked
    0
    Sectors & Interests
    Follow
    Load latest
    T
    Trendlyne Marketwatch
    30 Apr 2024
    Market closes lower, Indian Oil Corp's net profit falls 50% YoY to Rs 5,148.9 crore in Q4

    Market closes lower, Indian Oil Corp's net profit falls 50% YoY to Rs 5,148.9 crore in Q4

    By Trendlyne Analysis

    Nifty 50 closed at 22,604.85 (-38.6, -0.2%), BSE Sensex closed at 74,482.78 (-188.5, -0.3%) while the broader Nifty 500 closed at 20,997.20 (5, 0.0%). Market breadth is in the red. Of the 2,077 stocks traded today, 912 were gainers and 1,119 were losers.

    Indian indices pared the gains from the afternoon session and closed in the red. The volatility index, Nifty VIX, rose by 5.1% and closed at 12.9 points. Indian Oil Corp’s net profit declined by 50% YoY to Rs 5,149 crore in Q4FY24 due to higher employee benefits and finance costs. Revenue also dropped by 3.1% YoY to Rs 2.2 lakh crore, impacted by the petroleum products segment.

    Nifty Midcap 100 and Nifty Smallcap 100 closed flat with the benchmark index closing lower. Nifty Realty and Nifty Auto closed higher than Monday’s closing level. According to Trendlyne’s sector dashboard, retailing emerged as the top-performing sector of the day, with a rise of over 1.7%. 

    Most European indices trade in the red, except for England’s FTSE 100 trading higher. US indices futures trade lower, indicating a negative start. The provisional data indicated Eurozone’s GDP increased by 0.4% YoY in Q1 against estimates of 0.2% growth.

    • Money flow index (MFI) indicates that stocks like Escorts Kubota, Aegis Logistics, Just Dial and Hindustan Aeronautics are in the overbought zone.

    • Indian Oil Corp falls sharply as its net profit declines by 50% YoY to Rs 5,148.9 crore in Q4FY24 due to higher employee benefits and finance costs. Revenue also drops by 3.1% YoY to Rs 2.2 lakh crore, impacted by the petroleum products segment. It appears in a screener of stocks with declining net cash flow.

    • KR Choksey reiterates its 'Buy' rating on Axis Bank with an upgraded target price of Rs 1,345 per share. This indicates a potential upside of 15.6%. The brokerage believes that the bank's investment in technology and branch expansion will improve its operating leverage. It expects the company's net profit to grow at a CAGR of 13.2% over FY24-26.

    • Auto stocks like Mahindra & Mahindra, Exide Industries, Ashok Leyland and Apollo Tyres are rising in trade. The broader sectoral index, Nifty Auto, is also trading in the green.

    • Manappuram Finance rises to a 52-week high of Rs 207.3 as SEBI approves the IPO of its subsidiary, Asirvad Micro Finance. The company had filed a draft prospectus with SEBI in October 2023, which was later put on hold.

      Manappuram Finance shares up 5% as Asirvad Microfinance IPO gets Sebi nod@amit_mudgillhttps://t.co/y3ITs7tQqJ

      — Business Today (@business_today) April 30, 2024
    • Exide Industries' Managing Director (MD) and Chief Executive Officer (CEO) Subir Chakraborty retires, effective today. The company appoints Avik Kumar Roy as the new MD and CEO, effective May 1, 2024.

    • NHPC is rising as it reportedly signs an agreement with Norway-based Ocean Sun to explore the implementation of floating solar energy technology in India.

    • Newgen Software Technologies surges as its Q4FY24 profit rises 54% QoQ to Rs 105.3 crore and revenue grows by 16.6% QoQ. The Europe, Middle East and Africa markets contribute the most towards this revenue growth. The company appears in a screener of stocks with low debt.

    • Nifty 50 reaches a record high of 22,783.4 today, inches closer to the 22,800 mark.

      #Nifty hits fresh record high surpassing April 10 peak, nears 22,800https://t.co/FUaD4u1x45pic.twitter.com/yt3B4hFZpR

      — Hindustan Times (@htTweets) April 30, 2024
    • Granules India is rising as it receives final approval from the US FDA for its abbreviated new drug application (ANDA) for colchicine capsules. The tablet is a generic equivalent of Hikma International Pharmaceuticals' reference listed drug (RLD), Mitigare capsules, used for the treatment of gout flares.

    • Trent surges to its all-time high of Rs 4,670 per share as its net profit rises 15.8x YoY to Rs 712.1 crore in Q4FY24 owing to an exceptional gain from leasing activities. Revenue grows by 51.1% YoY to Rs 3,297.7 crore during the quarter. It shows up in a screener of stocks with increasing net profit for the past four quarters.

    • PSP Projects wins a work order worth Rs 229.5 crore for the construction of a mall and a multiplex for Thoth Mall and Commercial Real Estate.

    • Nuvama Institutional Equities expects Vodafone Idea to be included in the MSCI Global Standard Index during its August review. The brokerage sees Thermax, FSN E-Commerce (Nykaa), Alkem Laboratories, and SAIL as other likely inclusions to the index.

      Vodafone Idea, Nykaa, SAIL among 8 stocks likely to enter MSCI Global Standard index in August rejig, says Nuvama https://t.co/4lycfiVB4p

      — Mint (@livemint) April 30, 2024

    • Shoppers Stop’s Q4FY24 net profit jumps 62.5% YoY to Rs 23.2 crore due to reduced inventory costs. Its revenue increases by 13.2% YoY to Rs 1,046.3 crore, driven by healthy demand in its beauty segment and luxury products.

    • Rites rises as it wins an order worth $111.3 million from Bangladesh Railway to supply 200 broad gauge passenger carriages.

    • KFIN Technologies rises as its Q4FY24 net profit improves 30.8% YoY to Rs 74.5 crore and revenue increases by 24.1% YoY to Rs 234.9 crore. The domestic mutual fund investor solutions segment contributes most towards this revenue growth. The company appears in a screener of stocks that have gained more than 20% in the past month.

    • Vivek Mathur, the CFO of KFIN Technologies, guides a revenue growth of 15-20% in FY25. He expects margins to be in the range of 40-45% for the company. Mathur highlights that revenue from international business has increased to 11% in FY24, and expects it to improve to 15% going ahead.

      KFin Technologies gives us Guidance for FY25

      Revenue +15% to 20%
      International will contribute 15% of revenue mix
      Margin band 40% to 45%
      Value-added contribution to rise to 15% in next 3 years#StockMarket#Nifty#StockMarketNewshttps://t.co/NrKvt2tL5x

      — Nigel D'Souza (@Nigel__DSouza) April 30, 2024

    • Rail Vikas Nigam's joint venture with Kerala Rail Development Corp receives a contract worth Rs 439 crore from Southern Railway to redevelop Thiruvananthapuram Central Railway Station.

    • Rashtriya Chemicals & Fertilizers is rising as the Ministry of Chemicals and Fertilizers approves an investment of Rs 2,169.7 crore in Talcher Fertilizers. Talcher Fertilizers is a joint venture (JV) among GAIL, Coal India and Fertilizer Corp.

    • JNK India’s shares debut on the bourses at a 49.6% premium to the issue price of Rs 415. The Rs 649.5 crore IPO has received bids for 28.1 times the total shares on offer.

    • Mahindra & Mahindra touches a 52-week high of Rs 2,152 following the launch of the XUV 3XO Compact SUV. Investec says this will enhance the compact SUV market share, and strengthen the overall UV franchise of the company. The brokerage maintains its ‘Buy’ rating with a target price of Rs 2,200.

      Brokerage Radar | Investec on M&M maintains buy with target price of Rs 2,200@Investecpic.twitter.com/SCK4nxCeMl

      — ET NOW (@ETNOWlive) April 30, 2024

    • SBFC Finance falls as its promoter reportedly sells its entire 5.5% stake worth Rs 536.5 crore in a bulk deal.

    • KEC International rises sharply as it bags multiple orders worth Rs 1,036 crore from Indian and overseas clients in the transmission & distribution (T&D), railways and cables segments.

    • The Ministry of Corporate Affairs approves the appointment of Hitesh Kumar Sethia as the Managing Director and Chief Executive Officer of Jio Financial Services.

    • Tata Chemicals falls sharply as it posts a net loss of Rs 827 crore in Q4FY24 compared to a net profit of Rs 711 crore in Q4FY23 due to higher provisions. Revenue declines by 21.1% YoY to Rs 3,475 crore, impacted by the basic chemistry products and specialty products segments. It appears in a screener of stocks with declining revenue for the past four quarters.

    • Nifty 50 was trading at 22,695.30 (51.9, 0.2%), BSE Sensex was trading at 74,746.98 (75.7, 0.1%) while the broader Nifty 500 was trading at 21,074.45 (82.3, 0.4%).

    • Market breadth is ticking up strongly. Of the 1,850 stocks traded today, 1,417 showed gains, and 370 showed losses.

    Riding High:

    Largecap and midcap gainers today include REC Ltd. (507.15, 9.5%), Power Finance Corporation Ltd. (441.55, 6.3%) and Schaeffler India Ltd. (3,689.85, 6.1%).

    Downers:

    Largecap and midcap losers today include Indian Oil Corporation Ltd. (168.85, -4.5%), Aditya Birla Capital Ltd. (231.40, -3.8%) and YES Bank Ltd. (26.15, -3.5%).

    Volume Shockers

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

    Top high volume gainers on BSE included REC Ltd. (507.15, 9.5%), JM Financial Ltd. (88.90, 9.1%) and Gillette India Ltd. (6,667.90, 7.4%).

    Top high volume losers on BSE were Eureka Forbes Ltd. (471.20, -5.5%), Indian Oil Corporation Ltd. (168.85, -4.5%) and Rossari Biotech Ltd. (749.25, -4.0%).

    Star Cement Ltd. (237.20, 4.3%) was trading at 17.8 times of weekly average. Procter & Gamble Hygiene & Healthcare Ltd. (16,070, -0.7%) and Symphony Ltd. (966.50, 1.6%) were trading with volumes 14.4 and 11.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    46 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

    Stocks touching their year highs included - Ashok Leyland Ltd. (192.65, 3.9%), Astral Ltd. (2,118.10, 3.1%) and Axis Bank Ltd. (1,165.90, 0.6%).

    Stock making new 52 weeks lows included - Sheela Foam Ltd. (904.40, -1.1%).

    18 stocks climbed above their 200 day SMA including JM Financial Ltd. (88.90, 9.1%) and Gillette India Ltd. (6,667.90, 7.4%). 7 stocks slipped below their 200 SMA including Cyient Ltd. (1,806.50, -1.9%) and Balrampur Chini Mills Ltd. (395.55, -1.5%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    29 Apr 2024
    Market closes higher, ICICI Direct retains its 'Buy' rating on IndusInd Bank

    Market closes higher, ICICI Direct retains its 'Buy' rating on IndusInd Bank

    By Trendlyne Analysis

    Nifty 50 closed at 22,643.40 (223.5, 1%), BSE Sensex closed at 74,635.11 (905.0, 1.2%) while the broader Nifty 500 closed at 20,992.20 (152.9, 0.7%). Market breadth is balanced. Of the 2,103 stocks traded today, 1,034 were in the positive territory and 1,019 were negative.

    Indian indices extended their gains from the afternoon session and closed in the green. The Indian volatility index, Nifty VIX, rose 12.1% and closed at 12.2 points. KPIT Technologies closed sharply higher after its Q4FY24 profit grew by 5.9% QoQ to Rs 165.9 crore and revenue increased by 4.6% QoQ. The European region contributed the most towards the company’s revenue growth.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green but underperformed the benchmark index. Nifty Energy and Nifty Bank closed higher than their Friday close. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 2.6%.

    European indices traded in the green, taking cues from the Asian indices. US index futures traded higher, indicating a positive start to the trading session. Brent crude oil futures traded marginally lower after rising 1.1% on a volatile day on Friday.

    • Relative strength index (RSI) indicates that stocks like Motilal Oswal Financial Services, Voltas, Aegis Logistics and Aditya Birla Capital are in the overbought zone.

    • ICICI Direct retains its 'Buy' rating on IndusInd Bank with an upgraded target price of Rs 1,850, indicating a potential upside of 24.6%. The brokerage forecasts an increase in the bank’s revenue, driven by improved granularity in assets and liabilities, growth in the new retail and SMSE segments, and strong asset quality. It expects the bank's net interest income (NII) to grow at a CAGR of 17% over FY24-26.

    • Metals & mining, telecommunications equipment, and fertilizerssectors rise more than 15% in the past month.

    • Mahindra Lifespace Developers falls sharply as its revenue plunges by 94.4% YoY to Rs 14.3 crore in Q4FY24, impacted by the projects, project management, and development segments. However, net profit surges 134.9 times YoY, driven by a decrease in raw material costs. The company features in a screener of stocks that have underperformed their industries in the past quarter.

    • HSBC Global Research downgrades its rating on SBI Cards and Payment Services to ‘Reduce’ and cuts the target price to Rs 650 due to higher credit costs and asset quality pressures. SBI Cards’ Q4FY24 net profit rises 11% YoY to Rs 662.4 crore, and revenue increases 15.5% YoY. Credit costs grow 50% YoY during the quarter.

      #Q4WithNDTVProfit | Here's what brokerages have to say about #SBICards and Payment Services' fourth quarter results.

      Read more ??https://t.co/rpOLEq1Z2o

      — NDTV Profit (@NDTVProfitIndia) April 29, 2024
    • Shakti Pumps (India) hits the upper circuit as profit rises to Rs 89.7 crore in Q4FY24 from Rs 2.2 crore in Q4FY23. Its revenue grows by 233% YoY to Rs 610.1 crore on the back of Indian operations, while revenue from overseas operations falls. The company appears in a screener for stocks with low debt.

    • KPIT Technologies rises as its Q4FY24 profit grows by 5.9% QoQ to Rs 165.9 crore and revenue increases by 4.6% QoQ. The European region contributes the most towards revenue growth. The company appears in a screener for stocks with growth in net profit, with increasing profit margin.

    • Techno Electric & Engineering reaches a 52-week high of Rs 1,067.6 as it bags multiple orders worth Rs 4.063 crore from domestic entities. The orders include the establishment/execution of 765 kV substation packages for PowerGrid Corp and Adani Power, and the installation and operation of smart meters.

    • Sanjay Agarwal, MD of Au Small Finance Bank, highlights the bank’s target to double its balance sheet size to Rs 2.5 lakh crore in three years. He says this will be driven by the merger with Fincare SFB and the country’s growing consumption trend.

      #AUSmallFinanceBank aims to double balance sheet to Rs 2.5 lakh cr in 3 years: MD Sanjay Agarwalhttps://t.co/sRUUMJMz7a

      — Economic Times (@EconomicTimes) April 28, 2024
    • PSU bank stocks like Bank of India, Union Bank of India, Indian Bank and Central Bank of India are rising in trade. All constituents of the broader Nifty PSU Bank are also trading in the green, helping the index touch its all-time high of 7,502.6.

    • Multi Commodity Exchange of India is falling as the Securities and Exchange Board of India (SEBI) demands the company to pay a higher regulatory fee based on the annual turnover, including the notional value of options contracts.

    • Yes Bank rises sharply as its net profit surges by 123.2% YoY to Rs 451.9 crore in Q4FY24, helped by a reduction in provisions and a tax return, compared to a tax expense in Q4FY23. Revenue increases by 19.8% YoY due to improvements in the treasury, corporate, and retail banking segments. The bank’s asset quality also improves, with gross and net NPAs contracting by 50 bps and 20 bps YoY, respectively.

    • IREDA is rising as it receives the 'Navaratna' status from the Centre’s Department of Public Enterprises. Pradip Kumar Das, the CMD, says the company’s next target is to achieve the Maharatna status. He adds that the firm aims to continue 30% revenue growth, and expects the share of emerging businesses to increase to 45-50%.

      IREDA

      Mgmnt Says
      Navratna status by GoI allows them more autonomy
      Next target is Maha-Ratna status now

      Aspires to continue 30% growth, targets 0% NPA in future

      Emerging businesses at 25% of book, may increase to 45-50%https://t.co/7YFFtYPA47

      — Mangalam Maloo (@blitzkreigm) April 29, 2024

    • Gland Pharma receives US FDA approval for Cetrorelix Acetate for Injection, a bioequivalent and therapeutically equivalent of Cetrotide, used to prevent premature LH surges. It has annual sales of approx $129 million.

    • Ircon International rises as its joint venture with Dineshchandra R Agrawal Infracon wins a construction order worth Rs 1,198.1 crore from East Coast Railway.

    • Apollo Hospitals Enterprise falls sharply as its board approves a Rs 2,475 crore investment in its subsidiary, Apollo Hospitals Co. by Advent International. Apollo Hospitals Co, in turn, acquires an 11.2% stake in Keimed for Rs 625.4 crore.

    • Amit Kumar Sinha, the CEO of Mahindra Lifespace Developers, says Q4 has been a strong quarter for the company in terms of pre-sales. He adds that the new launch in Kandivali, Mumbai, has driven bookings. Sinha also expects the company to exceed the FY25 guidance of Rs 2,500 crore in terms of bookings.

      #OnCNBCTV18 | Q4FY24 has been one of our best quarters in terms of pre-sales, will be able to exceed FY25 guidance of ?2,500 cr in terms of bookings: Amit Kumar Sinha, Mahindra Lifespace pic.twitter.com/bquRc4adoj

      — CNBC-TV18 (@CNBCTV18Live) April 29, 2024

    • BSE falls after SEBI orders the company to pay a regulatory fee on the annual turnover, including the options contract fee.

    • IDFC First Bank falls sharply as its net profit declines by 9.8% YoY to Rs 724.4 crore in Q4FY24. However, revenue increases by 27.9% YoY to Rs 8,219.2 crore, driven by loans and advancements. The bank's asset quality is also improving, with gross and net NPAs contracting by 63 bps and 26 bps YoY, respectively. It appears in a screener of stocks with high interest payments compared to earnings.

    • Glenmark Pharmaceuticals receives US FDA approval for Acetaminophen and Ibuprofen tablets. Acetaminophen, a bioequivalent to Advil, has annual sales of $84.1 million.

    • Morgan Stanley maintains its ‘Overweight’ rating on InterGlobe Aviation (IndiGo) with an upgraded target price of Rs 4,615. The brokerage believes that the company has a large and sustainable moat. It expects a ramp-up in outbound travel and sees an expansion in the domestic and international markets to 370 million passengers in FY30.

      Brokerage Radar | Morgan Stanley on IndiGo maintains overweight; hikes target price to Rs 4,615 from Rs 4,145@MorganStanley@IndiGo6Epic.twitter.com/g8R1pH3rsc

      — ET NOW (@ETNOWlive) April 29, 2024

    • ATC Telecom Infrastructure sells a 2.2% stake in Vodafone Idea for approx Rs 1,840.3 crore in a bulk deal on Friday.

    • ICICI Bank reaches its all-time high of Rs 1,131.7 as its net profit grows by 17.4% YoY to Rs 10,707.5 crore in Q4FY24. Revenue increases by 22.3% YoY to Rs 37,948.4 crore, driven by improvements in the deposits, domestic loans, retail loans, and business banking segments. It features in a screener of stocks with increasing revenue over the past eight quarters.

    • Maruti Suzuki is rising as its net profit surges 47.1% YoY to Rs 3,952.3 crore in Q4FY24. Revenue increases by 19.1% YoY to Rs 36,694.2 crore, helped by the domestic and export markets. It appears in a screener of stocks with growth in net profit and profit margin (QoQ).

    • HCL Technologies is falling as its net profit declines 8.4% QoQ to Rs 3,986 crore in Q4FY24 due to higher inventory, employee benefits and finance costs. Revenue remains flat at Rs 28,499 crore, with growth in the IT & business services segment offset by reductions in the engineering & R&D services and HCL software segments. It features in a screener of stocks where mutual funds have reduced their shareholding in the past quarter.

    • Nifty 50 was trading at 22,491.05 (71.1, 0.3%), BSE Sensex was trading at 73,981.92 (251.8, 0.3%) while the broader Nifty 500 was trading at 20,916.45 (77.1, 0.4%).

    • Market breadth is overwhelmingly positive. Of the 1,910 stocks traded today, 1,585 were gainers and 268 were losers.

    Riding High:

    Largecap and midcap gainers today include Supreme Industries Ltd. (4,955.15, 14.2%), Au Small Finance Bank Ltd. (637.95, 6.4%) and Indian Bank (559.05, 6.2%).

    Downers:

    Largecap and midcap losers today include HCL Technologies Ltd. (1,387.40, -5.9%), Apollo Hospitals Enterprise Ltd. (5,968.35, -4.6%) and Vodafone Idea Ltd. (13.45, -3.9%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Supreme Industries Ltd. (4,955.15, 14.2%), Jamna Auto Industries Ltd. (141.75, 7.3%) and JBM Auto Ltd. (1,907.50, 7.1%).

    Top high volume losers on BSE were HCL Technologies Ltd. (1,387.40, -5.9%), Apollo Hospitals Enterprise Ltd. (5,968.35, -4.6%) and IDFC Ltd. (121.65, -4.4%).

    BLS International Services Ltd. (349.95, 6.2%) was trading at 10.2 times of weekly average. AIA Engineering Ltd. (3,771.85, -3.4%) and Vaibhav Global Ltd. (425.30, 6.1%) were trading with volumes 10.1 and 6.9 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    42 stocks made 52 week highs,

    Stocks touching their year highs included - Aegis Logistics Ltd. (696.15, 9.5%), Axis Bank Ltd. (1,159.25, 2.6%) and Bank of Maharashtra (71.05, 5.0%).

    16 stocks climbed above their 200 day SMA including Vaibhav Global Ltd. (425.30, 6.1%) and Finolex Cables Ltd. (1,035.05, 3.1%). 8 stocks slipped below their 200 SMA including Craftsman Automation Ltd. (4,423.50, -5.6%) and IDFC Ltd. (121.65, -4.4%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    26 Apr 2024
    Market closes lower, Vedanta's net profit falls 27.4% YoY to Rs 2,275 crore in Q4FY24

    Market closes lower, Vedanta's net profit falls 27.4% YoY to Rs 2,275 crore in Q4FY24

    By Trendlyne Analysis

    Nifty 50 closed at 22,419.95 (-150.4, -0.7%), BSE Sensex closed at 73,730.16 (-609.3, -0.8%) while the broader Nifty 500 closed at 20,839.35 (-28.6, -0.1%). Market breadth is horizontal. Of the 2,058 stocks traded today, 993 were in the positive territory and 1,020 were negative.

    Indian indices maintained the losses from the afternoon session and closed in the red. The volatility index, Nifty VIX, rose by 1.7% and closed at 10.9 points. Bank of Maharashtra’s net profit surged by 45% YoY to Rs 1,217.7 crore in Q4FY24, helped by a reduction in provisions. Revenue grew by 21.6% YoY, driven by improvements in the treasury operations, retail, and corporate banking segments.

    Nifty Midcap 100 and Nifty Smallcap 100 closed higher, with the benchmark index closing lower. Nifty IT and Nifty Media closed higher than Thursday’s closing level. According to Trendlyne’s sector dashboard, fertilizers emerged as the top-performing sector of the day, with a rise of over 2.1%. 

    Most European indices trade in the green. US indices futures trade higher, indicating a positive start. The provisional data indicated that the US GDP increased by 1.6% in Q1 against estimates of 2.5% growth.

    • Money flow index (MFI) indicates that stocks like Aegis Logistics, Motilal Oswal Financial Services, Just Dial and Cello World are in the overbought zone.

    • CSB Bank falls sharply as its Q4FY24 net profit declines 3.1% YoY to Rs 1,514.6 crore due to higher operating expenses. However, revenue rises 24.9% YoY to Rs 7,948.7 crore, driven by growth in the treasury, corporate, and retail banking segments.

    • Vedanta rises sharply as its net profit, despite falling by 27.4% YoY to Rs 2,275 crore in Q4FY24, beats Forecaster estimates by 13.8%. Revenue decreases by 6.1% YoY to Rs 34,937 crore, due to reductions in the zinc, aluminium, copper, and power segments. It appears in a screener of stocks with declining revenue for the past two quarters.

    • According to S&P Global, the RBI's intervention with Kotak Mahindra Bank may slow its credit growth and profitability, forcing the bank to rely more on developing its physical branch network. The agency has granted the bank a BBB-/Stable/A-3 rating and claims that the move will have no effect on its rating. S&P Global highlights that the bank may continue to cross-sell its other products to existing clients.

      #RBI action on #KotakMahindraBank may set back credit growth and profitability, says S&P Global Ratings.

      For the latest news and updates, visit https://t.co/by4FF5o0Ewpic.twitter.com/lQ5wo48ILa

      — NDTV Profit (@NDTVProfitIndia) April 26, 2024
    • Bank of Maharashtra rises sharply as its net profit surges by 45% YoY to Rs 1,217.7 crore in Q4FY24, helped by a reduction in provisions. Revenue grows by 21.6% YoY, driven by improvements in the treasury operations, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs contract by 59 bps and 5 bps YoY, respectively, during the quarter.

    • Zensar Technologies is rising its Q4FY24 net profit increases 7.2% QoQ to Rs 173.3 crore, driven by lower finance costs and depreciation expenses. Its revenue is up 2.1% QoQ due to growth in the digital & application, and digital foundation services segments.

    • KPI Green Energy falls sharply as its net profit declines by 15% QoQ, despite growing by 35.4% YoY to Rs 43 crore in Q4FY24. Revenue increases by 58.6% YoY to Rs 289.4 crore, driven by improved sales of plots, power, and captive power projects. It features in a screener of stocks that have outperformed their industries in the past quarter.

    • Aditya Jajodia, Chairman & Director of Jai Balaji Industries, states that the company's focus remains on expansion and value-added products, expecting them to constitute around 80-85% of total sales over the next few quarters. He highlights the company’s potential FY27 revenue of Rs 10,000 crore with margins around 18%. Jajodia adds that the firm will be net debt-free within 15 months.

      Jai Balaji is +20x in past 1 year ????

      Management spoke to us & have big plans ahead

      ???? Focus is on expansion & VAP
      ???? In FY27 revenue potential will be Rs.10000cr with margins of 18%
      ????Will be net debt free in 15 months#StockMarket#Niftyhttps://t.co/tc3GwSltmA

      — Nigel D'Souza (@Nigel__DSouza) April 26, 2024
    • Can Fin Homes, Birlasoft, and Gillette India’s weekly average delivery volumes rise ahead of their Q4FY24 results on Monday.

    • Consumer durables stocks like Dixon Technologies, Havells India, Crompton Greaves Consumer Electricals, and Bata India are rising in trade. This helps the broader Nifty Consumer Durables index to touch its all-time high of 34,537.9.

    • Motilal Oswal keeps its 'Buy' rating on Equitas Small Finance Bank with an upgraded target price of Rs 125 per share. This indicates a potential upside of 25.9%. The brokerage expects the bank's slippage to reduce on the back of an improvement in collection efficiency. It expects the bank's net interest income to grow at a CAGR of 14.9% over FY24-26.

    • Metals & mining, general industrials, transportation, consumer durables, fertilizers, and telecommunications equipment sectors surge more than 5% over the past week.

    • Dr. Vikas Gupta, CEO of Alkem Labs, says that the domestic market remains their core focus and expects continued growth there. He anticipates that the company's dependence on China will decrease as more players enter the Indian market. He also notes that pricing erosion in the US has stabilized, and they are now looking for opportunities to boost their growth.

      #OnETNOW | 'Domestic is our core market and will continue to register strong growth' says Dr Vikas Gupta of Alkem Labs@Alkem_Labpic.twitter.com/yjwnVNwLky

      — ET NOW (@ETNOWlive) April 26, 2024
    • Media stocks like Sun TV Network, Zee Entertainment Enterprises, PVR Inox, and Saregama India are rising in trade. The broader sectoral index Nifty Media is also trading in the green.

    • UTI Asset Management surges to its 52-week high of Rs 1,005 as its net profit grows by 53.9% YoY to Rs 151.3 crore in Q4FY24. Revenue increases by 24.4% YoY to Rs 327.5 crore during the quarter. It appears in a screener of stocks with improving cash flow from operations over the past two years.

    • Foreign institutional investors divest Rs 1,077 crore in the equity market over the past week, according to Trendlyne's FII dashboard. Index options witness the highest outflow of Rs 34,503.7 crore from foreign investors. Meanwhile, mutual funds are net buyers in the equity market, injecting Rs 4,636.5 crore during the same period.

    • InterGlobe Aviation (IndiGo) is rising as it places an order for 30 Airbus A350-900 aircraft. This marks the company's entry into the wide-body aircraft space and will enable further expansion of its network.

      India's largest airline IndiGo has entered the long-haul market by ordering 30 wide-body aircraft. The airline has placed an order of 30 Airbus A350-900 aircraft.

      (@awnusharma reports)https://t.co/LAkuConqaa

      — Mint (@livemint) April 26, 2024

    • IndusInd Bank is falling as its net profit, despite growing by 15% YoY to Rs 2,346.8 crore in Q4FY24, misses Forecaster estimates by 2%, helped by a reduction in provisions. Revenue increases by 21.7% YoY due to improvements in the treasury operations, corporate, and retail segments. The bank’s asset quality improves as its gross and net NPAs contract by 8 bps and 2 bps YoY, respectively.

    • Vodafone Idea is falling as 2.8% equity (185 crore shares), worth approximately Rs 2,000 crore reportedly changes hands in multiple block deals. ATC Telecom Infra is a likely seller in the transaction.

    • Schaeffler India is falling as its Q4FY24 net profit, despite a marginal growth of 0.2% YoY to Rs 219.7 crore, misses estimates by 9.3%. Its revenue, however, rises by 10.6% YoY to Rs 1,873.1 crore, driven by growth in the automotive technologies, vehicle lifetime solutions, and bearings segments.

    • Goldman Sachs maintains its ‘Neutral’ rating on Nestle India and raises the target price to Rs 2,550. The brokerage highlights the company’s strong earnings in Q4, driven by margin expansion. It also notes the potential benefits from Dr. Reddy’s medical representative network.

      Brokerage Radar | Goldman Sachs on Nestle maintains neutral; hikes target price @GoldmanSachs@NestleIndiapic.twitter.com/5bQ3OUtiac

      — ET NOW (@ETNOWlive) April 26, 202

    • L&T Technology Services plunges as its net profit, despite growing by 1.4% QoQ to Rs 340.9 crore in Q4FY24, misses estimates by 4.9%. Revenue increases by 4.4% QoQ to Rs 2,593.5 crore, thanks to improvements in the transportation, plant engineering, and telecom & high-tech segments. It features in a screener of stocks with increasing revenue for the past eight quarters.

    • Bajaj Finance falls sharply as its net profit, despite growing by 21.1% YoY to Rs 3,842.5 crore in Q4FY24, misses Forecaster estimates by 12.5%. Revenue increases by 31.4% YoY to Rs 14,932 crore due to an improvement in assets under management (AUM). It appears in a screener of stocks where mutual funds decreased their shareholding in the past quarter.

    • Sandur Manganese & Iron Ores rises sharply as it acquires an 80% stake in Arjas Steel at an enterprise value of Rs 3,000 crore.

    • Tech Mahindra rises sharply as its net profit grows by 29.5% QoQ to Rs 661 crore in Q4FY24, owing to reduced employee benefits expenses. Revenue declines by 1.8% QoQ to Rs 12,871.3 crore due to a fall in the IT and BPO segments. It features in a screener of stocks where FIIs have increased their shareholding.

    • Nifty 50 was trading at 22,585.10 (14.8, 0.1%), BSE Sensex was trading at 74,509.31 (169.9, 0.2%) while the broader Nifty 500 was trading at 20,910.30 (42.4, 0.2%).

    • Market breadth is ticking up strongly. Of the 1,808 stocks traded today, 1,305 were in the positive territory and 440 were negative.

    Riding High:

    Largecap and midcap gainers today include Tech Mahindra Ltd. (1,278.75, 7.4%), Coromandel International Ltd. (1,184.50, 6.5%) and Container Corporation of India Ltd. (1,068, 6.3%).

    Downers:

    Largecap and midcap losers today include L&T Technology Services Ltd. (4,778.10, -7.8%), Bajaj Finance Ltd. (6,731.20, -7.7%) and Bajaj Finserv Ltd. (1,597.35, -3.5%).

    Volume Shockers

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

    Top high volume gainers on BSE included Housing and Urban Development Corporation Ltd. (228.10, 12.3%), Zensar Technologies Ltd. (620.75, 8.0%) and The New India Assurance Company Ltd. (244.70, 7.8%).

    Top high volume losers on BSE were L&T Technology Services Ltd. (4,778.10, -7.8%), Bajaj Finance Ltd. (6,731.20, -7.7%) and CSB Bank Ltd. (384.10, -5.1%).

    Westlife Foodworld Ltd. (886.65, 7.8%) was trading at 13.1 times of weekly average. DCM Shriram Ltd. (956.55, 5.8%) and Tech Mahindra Ltd. (1,278.75, 7.4%) were trading with volumes 12.6 and 10.1 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    48 stocks overperformed with 52 week highs, while 1 stock hit their 52 week lows.

    Stocks touching their year highs included - Aegis Logistics Ltd. (635.65, 5.9%), Bharat Electronics Ltd. (238.95, 0.6%) and Bharat Heavy Electricals Ltd. (278.85, 2.7%).

    Stock making new 52 weeks lows included - Sheela Foam Ltd. (905.10, -2.2%).

    13 stocks climbed above their 200 day SMA including Westlife Foodworld Ltd. (886.65, 7.8%) and Tech Mahindra Ltd. (1,278.75, 7.4%). 14 stocks slipped below their 200 SMA including L&T Technology Services Ltd. (4,778.10, -7.8%) and Bajaj Finance Ltd. (6,731.20, -7.7%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    25 Apr 2024
    Market closes higher, Nestle India's net profit grows by 26.8% YoY to Rs 934.2 crore in Q4

    Market closes higher, Nestle India's net profit grows by 26.8% YoY to Rs 934.2 crore in Q4

    By Trendlyne Analysis

    Nifty 50 closed at 22,570.35 (168.0, 0.8%), BSE Sensex closed at 74,339.44 (486.5, 0.7%) while the broader Nifty 500 closed at 20,867.90 (137.3, 0.7%). Market breadth is in the green. Of the 2,072 stocks traded today, 1,082 showed gains, and 950 showed losses.

    Indian Indices extended their gains from the afternoon session and closed in the green. The Indian volatility index, Nifty VIX, rose 4.4% and closed at 10.7 points. Indian Hotels Co closed sharply lower after its Q4FY24 net profit missed estimates by 3.7% despite growing by 27.3% YoY to Rs 417.8 crore.

    Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, taking cues from the benchmark index. Nifty PSU Bank and Nifty Metal closed higher than their Wednesday close. According to Trendlyne’s sector dashboard, Commercial Services & Supplies emerged as the day's best-performing sector, with a rise of 1.9%.

    Major Asian indices closed in the green, except for Japan’s Nikkei 225 index closing flat. European stocks traded mixed as investors awaited Q4FY24 earnings data from major companies. US index futures traded in the red, indicating a negative start to the trading session. Brent crude oil futures traded lower after closing 0.4% lower on Wednesday.

    • Relative strength index (RSI) indicates that stocks like United Breweries, Whirlpool of India, Aegis Logistics and Amara Raja Energy & Mobility are in the overbought zone.

    • Dr. Reddy's Laboratories is rising as it enters into an agreement with Nestle India to form a joint venture (JV) to manufacture and commercialise products in the medical nutrition, specialised nutrition, nutraceuticals, and supplements categories in India and other geographies.

    • Nestle India is rising as its net profit grows by 26.8% YoY to Rs 934.2 crore in Q4FY24. Revenue increases by 9% YoY to Rs 5,267.6 crore on the back of the confectionery, milk products and nutrition segments. It shows up in a screener of stocks nearing their 52-week highs with significant volumes.

    • PSU bank stocks like Indian Overseas Bank, Bank of India, State Bank of India and UCO Bank are rising in trade. The broader sectoral index, Nifty PSU Bank, is also trading in the green.

    • According to a CRISIL report, increasing severity and frequency of weather disturbances have led to frequent rises in vegetable prices in recent years. Despite making up only 15.5% of the food index, vegetables accounted for about 30% of food inflation in FY24. The fiscal year 2024 saw extreme volatility in vegetable prices, ranging from a low of -7.9% in May 2023 to a high of 37.4% in July 2023.

      Extreme weather conditions are increasing vegetable prices, causing retail inflation for over a year. #Crisil reports that rising intensity and recurrence of weather disturbances have led to frequent volatility, affecting 30% of food inflation in fiscal 2024

      ?? @surabhi_prasad…

      — Business Today (@business_today) April 25, 2024
    • Orient Cement rises as reports suggest Aditya Birla Group is in the advanced stage of negotiation to buy the promoter's stake in the company.

    • JNK India's Rs 649.5 crore IPO gets bids for 5.2X the available 1.1 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 2X the available 56.1 lakh shares on offer.

    • Inox Wind touches a new 52-week high of Rs 658.4 after its board approved a 3:1 bonus equity share issue. The record date will be announced later.

    • Abhishek Lodha, the incoming CEO of Macrotech Developers, says the company targets a 5-6% price growth and a 20% increase in pre-sales in FY25. He expects 10% of the volume growth from new locations and a total volume growth of 14% in FY25. He also highlights continued expansion plans across Mumbai, Pune and Bangalore.

      #OnCNBCTV18 | We are aiming for predictable & profitable growth, looking at price growth of 5-6% in FY25, says Abhishek Lodha of Macrotech Developers pic.twitter.com/Z69Z4chasU

      — CNBC-TV18 (@CNBCTV18Live) April 25, 2024
    • ICICI Direct assigns a 'Buy' rating on Hindalco Industries with a target price of Rs 780 per share. This indicates a potential upside of 23.1%. The brokerage is optimistic on the back of strategic capacity expansions at Novelis and in Indian operations, and structural drivers in place for healthy aluminium demand. It expects the company's net profit to grow at a CAGR of 10.3% over FY24-26.

    • Au Small Finance Bank’s Q4FY24 net profit declines 12.7% YoY to Rs 370.7 crore due to stamp duty and transaction charges related to its merger with Fincare Small Finance Bank. However, its net interest income grows 24.4% YoY on the back of growth in the treasury, retail, and wholesale banking segments.

    • Jubilant Pharmova receives Form 483 with five observations from the US FDA after conducting an inspection at its radiopharmaceutical manufacturing facility in Canada.

    • The Department of Economic Affairs' (DEA) March review indicates that India's broad-based growth is boosting the global economy. The report notes that a slowing recession is helping global economic recovery. Additionally, the Indian Meteorological Department's (IMD) forecast of an above-average monsoon in 2024 is expected to improve harvests, reduce inflation concerns, and enhance the outlook for the next Kharif crop season.

      March Economic Review: #India's economic performance remains strong, despite global hurdles.

      For the latest news and updates, visit: https://t.co/by4FF5o0Ewpic.twitter.com/6z1uZOAMYD

      — NDTV Profit (@NDTVProfitIndia) April 25, 2024
    • Divi's Laboratories plans capacity addition at its manufacturing facility, with an estimated investment of Rs 650-700 crore to secure a long-term supply agreement with a customer. The proposed facility is expected to be operational by January 2027.

    • Indian Hotels Co is falling as its Q4FY24 net profit misses estimates by 3.7% despite growing by 27.3% YoY to Rs 417.8 crore. Its revenue rises 17.2% YoY to Rs 1,905.3 crore, driven by growth in revenue per available room (RevPAR).

    • Mas Financial Services rises sharply as its net profit grows by 22.5% YoY to Rs 68.1 crore in Q4FY24. Revenue increases by 23% YoY to Rs 329.5 crore, helped by improvements in assets under management (AUM) across the micro-enterprise, SME, two-wheeler, commercial vehicle, and salaried personal loan segments. It appears in a screener of stocks with increasing revenue over the past eight quarters.

    • BofA upgrades Bharat Forge to 'Buy' and raises the target price to Rs 1,450. The brokerage hikes the firm's EPS estimate by 7-15% for F25-26 to factor in the scaling up in defence & PV exports. BofA notes significant growth in the company’s three key business segments: defence, PV exports, and industrial casting.

      Brokerage Radar | BofA ON Bharat Forge: Upgrades to buy from underperform@BharatForgeLtdpic.twitter.com/4ZdbqHRU8X

      — ET NOW (@ETNOWlive) April 25, 2024

    • Dalmia Bharat falls as its Q4FY24 profit decreases by 47.5% YoY to Rs 320 crore, despite a 12% YoY increase in revenue. The profit decline is due to a gain in Q4FY23, when the company recorded an extra Rs 529 crore from an associate and joint venture. The company appears in a screener for stocks that have received broker price or recommendation upgrades in the past month.

    • Canada Pension Plan Investment Board sells a 2.8% stake (2 crore shares) in Delhivery, for approximately Rs 906.4 crore in a block deal on Wednesday. Meanwhile, Capital Group Fund and Fidelity Group buy 2.2% and 0.5% stakes in the company.

    • Axis Bank rises sharply as it posts a net profit of Rs 7,129.7 crore in Q4FY24, compared to a net loss of Rs 5,728.4 crore in Q4FY23. Revenue increases by 25.2% YoY, driven by gains in the treasury, corporate and retail banking segments. The bank's asset quality also improves with gross and net NPAs contracting by 59 bps YoY and 8 bps YoY, respectively.

    • Praveen Kutty, the incoming MD & CEO of DCB Bank, guides net interest margins (NIMs) for FY25 to be between 3.65-3.75% and a credit cost of 0.3%. He also expects the return on assets (RoA) to reach 1% in FY25 on a steady-state basis. He notes that the bank's asset book will double in around three years.

      DCB Bank says
      Asset book will double in around 3 years

      Guidance for FY25
      NIMs ????3.65-3.75%
      Credit cost ????0.30%
      RoA on a steady state basis should be 1%@DCBBank#StocksToWatchhttps://t.co/9qQGbAPVii

      — Nigel D'Souza (@Nigel__DSouza) April 25, 2024

    • LTIMindtree's Q4FY24 net profit decreases 5.9% QoQ to Rs 1,099.9 crore, with revenue down 1.5% YoY. However, FY24 saw a net profit increase of 3.9% YoY to Rs 4,582.1 crore, and revenue growth of 7.4% YoY. The board has recommended a final dividend of Rs 45 per share for FY24.

    • Happiest Minds Technologies acquires 100% equity share capital of PureSoftware Technologies for $94.5 million (Rs 779 crore). PureSoftware is a digital engineering & transformation services and solutions provider.

    • Kotak Mahindra Bank plunges as the Reserve Bank of India (RBI) orders the bank to cease and desist onboarding new customers through its online and mobile banking channels, and issuing new credit cards. This follows the RBI's observation of deficiencies in the bank's income tax examination.

    • Hindustan Unilever is falling as its revenue declines by 1.6% YoY to Rs 15,013 crore in Q4FY24, impacted by the beauty & personal care segment. Net profit grows by 2% YoY to Rs 2,558 crore, helped by lower raw material costs. It features in a screener of stocks that have underperformed their industry in the past quarter.

    • Nifty 50 was trading at 22,340.75 (-61.7, -0.3%), BSE Sensex was trading at 73,572.34 (-280.6, -0.4%) while the broader Nifty 500 was trading at 20,706.75 (-23.9, -0.1%).

    • Market breadth is in the green. Of the 1,814 stocks traded today, 1,121 were on the uptick, and 623 were down.

    Riding High:

    Largecap and midcap gainers today include Bharat Forge Ltd. (1,311.85, 7.4%), Aditya Birla Capital Ltd. (229.80, 6.2%) and Vodafone Idea Ltd. (13.90, 6.1%).

    Downers:

    Largecap and midcap losers today include Kotak Mahindra Bank Ltd. (1,642.45, -10.9%), Dalmia Bharat Ltd. (1,806.45, -8.0%) and Indian Hotels Company Ltd. (577.25, -5.1%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Hitachi Energy India Ltd. (9,329.50, 13.6%), Godfrey Phillips India Ltd. (3,449.70, 10.2%) and Bharat Forge Ltd. (1,311.85, 7.4%).

    Top high volume losers on BSE were Kotak Mahindra Bank Ltd. (1,642.45, -10.9%), Dalmia Bharat Ltd. (1,806.45, -8.0%) and Indian Hotels Company Ltd. (577.25, -5.1%).

    Sun Pharma Advanced Research Company Ltd. (270.90, -5%) was trading at 124.3 times of weekly average. Mas Financial Services Ltd. (308.70, 3.5%) and Jyothy Labs Ltd. (426.70, 1.2%) were trading with volumes 26.4 and 16.1 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    35 stocks took off, crossing 52 week highs, while 2 stocks tanked below their 52 week lows.

    Stocks touching their year highs included - Ambuja Cements Ltd. (638.35, -1.0%), Bharat Electronics Ltd. (237.60, 0.5%) and Canara Bank (616.85, 3.3%).

    Stocks making new 52 weeks lows included - Kotak Mahindra Bank Ltd. (1,642.45, -10.9%) and Dalmia Bharat Ltd. (1,806.45, -8.0%).

    12 stocks climbed above their 200 day SMA including Crisil Ltd. (4,354.05, 5.0%) and Fine Organic Industries Ltd. (4,560.80, 2.5%). 12 stocks slipped below their 200 SMA including Kotak Mahindra Bank Ltd. (1,642.45, -10.9%) and Sun Pharma Advanced Research Company Ltd. (270.90, -5%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    24 Apr 2024
    Market closes higher, Equitas Small Finance Bank's net profit rises by 9.3% YoY in Q4

    Market closes higher, Equitas Small Finance Bank's net profit rises by 9.3% YoY in Q4

    By Trendlyne Analysis

    Nifty 50 closed at 22,402.40 (34.4, 0.2%), BSE Sensex closed at 73,852.94 (114.5, 0.2%) while the broader Nifty 500 closed at 20,730.65 (78, 0.4%). Of the 2071 stocks traded today, 1,237 were in the positive territory and 784 were negative.

    Indian indices maintained the gains from the afternoon session and closed in the green. The volatility index, Nifty VIX, rose by 0.8% and closed at 10.3 points. US FDA concludes inspection at Zydus Lifescience injectable manufacturing site in Jarod after reporting 10 observations.

    Nifty Midcap 100 and Nifty Smallcap 100 closed lower following the benchmark index. Nifty Metal and Nifty Healthcare closed higher than Tuesday’s closing level. According to Trendlyne’s sector dashboard, fertilizers emerged as the top-performing sector of the day, with a rise of over 3.3%.

    Most European indices trade in the green, except for Switzerland’s SMI trading lower. US indices futures trade flat, indicating a cautious start. The US provisional manufacturing PMI for April contracts to 49.9 against estimates of 52. Tesla's Q1 revenue declined 8.7% YoY to $21.3 billion, missing estimates by 4.1%.

    • ICICI Bank sees a short buildup in its April 25 future series as its open interest rises 25.1% with a put-call ratio of 0.6.

    • Equitas Small Finance Bank falls sharply as its net profit misses Forecaster estimates by 2.6% despite growing by 9.3% YoY to Rs 207.6 crore in Q4FY24. Revenue grows by 25% YoY during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 15 bps YoY and 4 bps YoY. It appears in a screener of stocks with increasing revenue for the past four quarters.

    • Rail Vikas Nigam is rising as it has emerged as the lowest bidder, along with its JV partner KRDCL, for a project worth Rs 439 crore from Southern Railway. The contract includes the redevelopment of Thiruvananthapuram Central Railway Station, to be executed over 42 months.

    • Emkay initiates coverage on Bajaj Finance with a 'Buy' rating and target price of Rs 9,000 per share. This indicates a potential upside of 23.4%. The brokerage is positive on the stock on the back of its strong strategy execution and the listing of its housing subsidiary. It expects the company's net profit to grow at a CAGR of 21.4% over FY24-27.

    • Citi maintains a 'Buy' rating on Bharti Airtel and raises the target price to Rs 1,520. The brokerage expects the firm's FY26 average revenue per user (ARPU) to rise by 3% in FY26 and its EBITDA to improve by 1-2% by FY25-26 due to clarity on tariff hikes. The brokerage increases the valuations of Bharti Airtel's India mobile, homes, and enterprise segments.

      Brokerage Radar | Citi on Airtel maintains buy; hikes target price to Rs 1,520 from Rs 1,305@Citi@airtelindiapic.twitter.com/0q40Bv8x9n

      — ET NOW (@ETNOWlive) April 24, 2024
    • Cyient DLM rises as its Q4FY24 profit increases 80.7% YoY to Rs 22.7 crore and revenue improves 34.1% YoY. EBITDA falls 100 bps due to an increase in administrative expenses. The company appears in a screener of stocks with growing profits for the past three quarters.

    • JNK India's Rs 649.5 crore IPO gets bids for 1X the available 1.1 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 1.1X the available 56.1 lakh shares on offer.

    • ASK Automotive’s board approves a joint venture (JV) with Aisin Group Companies to market and sell IAM (independent after-market) parts for passenger cars.

    • United Breweries touches a 52-week high of Rs 2,026.2 following a 20% organic growth in Heineken's India revenue in the first quarter of 2024, driven by higher volume and a favourable price mix. Kingfisher Ultra and Heineken Silver led the company's premium portfolio's volume growth in the low-20s.

      #Heineken's net revenue in Q1 grew by 20% organically, driven by volume & positive price mix, says the company.

      For the latest news and updates, visit: https://t.co/by4FF5o0Ewpic.twitter.com/qRfKLxgyKg

      — NDTV Profit (@NDTVProfitIndia) April 24, 2024
    • Multi Commodity Exchange of India is plunging as its Q4FY24 net profit misses Forecaster estimates by 20.4%, despite surging 16.1X YoY to Rs 87.9 crore, helped by reduced computer technology and communication expenses. Revenue increases by 35.4% YoY to Rs 181.1 crore, owing to an improvement in average daily turnover (ADTO).

    • 360 One Wam is rising as its net profit grows by 55.5% YoY to Rs 241 crore in Q4FY24. Its revenue increases by 45.8% YoY during the quarter due to improvement in the wealth and asset management segments. The company’s board approves an interim dividend of Rs 3.5 per share.

    • ICICI Prudential Life Insurance falls as its net profit dips 26% YoY to Rs 173.8 crore, while total income rises 96.5% YoY. The profit fall is due to an increase in net benefits paid. The company appears in a screener for stocks with low debt.

    • Rakesh Sharma, Executive Director of Bajaj Auto, says FY25 exports could be better than FY24 and expects a 7-8% growth in the domestic market this year. He notes that there is no divide between rural and urban markets of the Indian two-wheeler segment. He adds that their new Brazil plant will begin operations in June.

      "FY25 can be expected to be better than FY24 in terms of exports; will unlock Brazil with new plant in June; expanding footprint in Europe in June," says Rakesh Sharma of Bajaj Auto @_bajaj_auto_ltdpic.twitter.com/JdEE33njUo

      — ET NOW (@ETNOWlive) April 24, 2024

    • Sudarshan Chemical Industries touches a 52-week high of Rs 766.5 following the launch of Sumica Gold 42631, an effect pigment for coatings, plastics, and textiles. The product is now available in Indian and overseas markets.

    • GPT Infraprojects surges as it wins orders worth Rs 487 crore from Mumbai's Central Railway for the construction of a new BG line in the Solapur-Osmanabad section.

    • Tata Elxsi falls as its net profit declines by 4.6% QoQ to Rs 196.9 crore in Q4FY24 due to increased employee benefit expenses. Revenue decreases by 0.9% QoQ to Rs 905.9 crore, owing to a downturn in the software development & services segment. It appears in a screener of stocks that have underperformed their industry in the past quarter.

    • Under the government's production linked incentive (PLI) program, seven companies including Reliance Industries, Amara Raja Advanced Cell Technologies, JSW Neo Energy, and Waaree Energies, have submitted bids to produce advanced chemistry cells (ACC) with a capacity of 10 gigawatt-hours in the program's second round.

      Seven companies, including RIL and ACME Cleantech, bid for manufacturing advanced chemistry cells (ACC) under government's incentive scheme.

      (@riturajbaruah1 reports)https://t.co/YSbm6ZXfSc

      — Mint (@livemint) April 24, 2024

    • Metal stocks like Steel Authority of India, NMDC, Jindal Steel & Power and Hindalco Industries are rising in trade. The broader sectoral index, Nifty Metal, is also trading in the green.

    • Zydus Lifesciences falls as US FDA concludes inspection at the company's injectable manufacturing site in Jarod with 10 observations.

    • Puravankara is rising after being selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai. The project's gross development value (GDV) is estimated at Rs 2,000 crore.

    • Shrinivas Kulkarni, Chief Financial Officer of Cyient DLM, forecasts over 30% revenue growth for FY25, with margins improving and ROCE expected to reach 15%, then 25%. He highlights benefits from the growth of India's Emergency Medical Services (EMS) industry. The company's Q4FY24 net profit surged by 80.7% YoY to Rs 22.7 crore, and revenue increased by 34.1% YoY.

      Cyient DLM ????

      FY25 Guidance
      ???? Revenue +30% with margins improving
      ???? ROCE will move to 15% & then 25%
      ???? Net working capital days at 90 days

      Can double revenues with current investments made????

      No adverse impact from geopolitical tensions ????https://t.co/NdchXJx7PX

      — Nigel D'Souza (@Nigel__DSouza) April 24, 2024

    • Rama Steel Tubes rises sharply as its board of directors approves fundraising of Rs 500 crore through a follow-on public offer (FPO).

    • Welspun Corp wins an export contract worth Rs 611 crore to supply LSAW pipes, coating and bends in Latin America.

    • Radhakishan Damani's Derive Trading and Resorts buys a 3.4% stake in VST Industries through open market transactions on Friday.

    • Tata Consumer Products plunges as its net profit drops 19.3% YoY to Rs 216.6 crore in Q4FY24 due to rising raw material costs and employee benefits expenses. Revenue increases by 8.5% YoY to Rs 3,926.9 crore, helped by Indian and international markets. The company appears in a screener of stocks with negative profit growth and a QoQ decrease in promoter shareholding.

    Riding High:

    Largecap and midcap gainers today include United Breweries Ltd. (2,030.95, 9.2%), Steel Authority of India (SAIL) Ltd. (164.65, 8.1%) and Linde India Ltd. (8,245.15, 8.1%).

    Downers:

    Largecap and midcap losers today include Vodafone Idea Ltd. (13.10, -9.0%), Tata Consumer Products Ltd. (1,110.15, -5.4%) and Tata Elxsi Ltd. (7,030.15, -4.9%).

    Volume Rockets

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

    Top high volume gainers on BSE included Aegis Logistics Ltd. (595.95, 10.8%), Mangalore Refinery And Petrochemicals Ltd. (248.70, 10.8%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (608.40, 9.8%).

    Top high volume losers on BSE were Tata Elxsi Ltd. (7,030.15, -4.9%), ICICI Prudential Life Insurance Company Ltd. (575.65, -3.1%) and Sundram Fasteners Ltd. (1051.05, -1.8%).

    United Breweries Ltd. (2030.95, 9.2%) was trading at 19.6 times of weekly average. Chambal Fertilisers & Chemicals Ltd. (402.20, 5.7%) and Emami Ltd. (446.35, 1.4%) were trading with volumes 14.3 and 10.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    38 stocks overperformed with 52-week highs,

    Stocks touching their year highs included - Aegis Logistics Ltd. (595.95, 10.8%), Amara Raja Energy & Mobility Ltd. (1,133.30, -2.3%) and Ambuja Cements Ltd. (644.45, 1.2%).

    16 stocks climbed above their 200 day SMA including Deepak Fertilisers & Petrochemicals Corporation Ltd. (608.40, 9.8%) and Ratnamani Metals & Tubes Ltd. (3,001, 4.2%). 6 stocks slipped below their 200 SMA including Sun Pharma Advanced Research Company Ltd. (285.15, -5%) and Crisil Ltd. (4,144.95, -1.2%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    23 Apr 2024
    Market closes flat, NBCC's (India) FY24 order wins rise 250% YoY to Rs 23,500 crore

    Market closes flat, NBCC's (India) FY24 order wins rise 250% YoY to Rs 23,500 crore

    By Trendlyne Analysis

    Nifty 50 closed at 22,368 (31.6, 0.1%), BSE Sensex closed at 73,738.45 (89.8, 0.1%) while the broader Nifty 500 closed at 20,652.65 (77.8, 0.4%). Market breadth is in the green. Of the 2,078 stocks traded today, 1,262 showed gains, and 774 showed losses.

    Indian indices fell from their day highs and closed marginally higher. The volatility index, Nifty VIX, fell sharply by 19.7% and closed at 10.2 points. Rallis India fell and closed in the red after its revenue declined by 16.6% YoY to Rs 436 crore in Q4FY24 due to weak export demand. 

    Nifty Smallcap 100 and Nifty Midcap 100 closed higher, outperforming the benchmark index. Nifty IT and Nifty FMCG closed higher than their Monday close. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 4.3%.

    Major Asian indices closed in the green, except for India’s BSE Sensex index closing flat. European indices traded in the green amid positive global cues. US index futures traded marginally higher, indicating a positive start to the trading session. Brent crude oil futures fell from their day highs and traded marginally higher on a volatile day of trade.

    • Money flow index (MFI) indicates that stocks like Just Dial, Motilal Oswal Financial Services, Elecon Engineering and Hindustan Aeronautics are in the overbought zone.

    • NBCC (India) rises as its FY24 order wins rise 250% YoY to Rs 23,500 crore. Significant business orders include a development project from the Kerala State Housing Board, the construction of grain storage facilities for the agri-infrastructure sector, and various infrastructure works for SAIL in Bhilai, Bokaro, etc.

    • One 97 Communications (Paytm) reportedly gets approval from the National Payments Corporation of India (NPCI) to enable the transfer of its users' UPI payments to other banks like Axis Bank and HDFC Bank. Users with current UPI IDs ending in "@paytm" will be assigned new IDs corresponding to these banks.

      Paytm is now enabled to offer UPI services through partners such as Axis Bank, HDFC Bank, State Bank of India, and YES Bank.

      Here's how to activate it ????https://t.co/n2d0J5K2wQ#Paytm#UPI#SBI

      — Business Standard (@bsindia) April 23, 2024

    • Himadri Specialty Chemical, Glenmark Lifesciences, UTI Asset Management Co and Aavas Financiers surge by 18.8%, 6.2%, 4.1% and 3.4% respectively over the past week, ahead of their Q4FY24 results on Thursday.

    • KR Choksey retains its 'Buy' rating on Bajaj Auto with an upgraded target price of Rs 10,263 per share. This indicates a potential upside of 16.3%. The brokerage forecasts that the company's growth will be driven by its entry into new export markets, expansion of the Triumph brand domestically and internationally, and an increase in the electric two-wheeler and three-wheeler network. It expects the company's revenue to grow at a CAGR of 13.1% over FY24-26.

    • RPP Infra Projects rises as its joint venture with V Sathyamoorthy & Co. wins an order worth Rs 412.8 crore to upgrade Raipur Railway Station.

    • Goldman Sachs prefers Power Grid Corporation of India and Hitachi Energy India in the power transmission and distribution (T&D) space. It predicts that by FY50, India's power transmission investment needs will exceed $500 billion, about 30% of the total for its energy transition. High electricity demand is also boosting earnings and prospects in the power industry.

      #StockMarket Today | Power Grid Corporation of India and Hitachi Energy India are the 2 stock picks by Goldman Sachs in the Power Transmission and Distribution (T&D) space. Expects up to 25% upsidehttps://t.co/SeQobqVXdm

      — Mint (@livemint) April 23, 2024

    • JNK India's Rs 649.5 crore IPO gets bids for 0.4X the available 1.1 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 0.3X the available 56.1 lakh shares on offer.

    • Inox Wind's board of directors is set to meet on Thursday to discuss the issuance of bonus shares to its equity shareholders. It features in a screener of companies where mutual funds have increased shareholding in the past month.

    • Anand Rathi initiates coverage on Coal India with a 'Buy' rating and a target price of Rs 520 per share. This indicates a potential upside of 17.4%. The brokerage expects the company's productivity to improve on the back of its cost-saving measures and infrastructure-improvement projects. It expects the company's revenue to grow at a CAGR of 8.5% over FY23-26.

    • Vikas Gupta, MD of PG Electroplast, expects robust growth in the first half of this year, along with a 35-40% increase in the AC segment. He adds that there has been a moderation of 8-10% in AC prices due to softening commodity prices. The penetration of ACs in the Indian market remains around 9%.

      "All industry players are expecting robust growth this year," says Vikas Gupta of PG Electroplast @PGElectroplastpic.twitter.com/e6s7MCE4Nk

      — ET NOW (@ETNOWlive) April 23, 2024

    • Telecom stocks like Tejas Networks, Vodafone Idea, Tata Teleservices and ITI are rising in trade. The broader sectoral index, BSE Telecom, is also trading in the green.

    • Indian Overseas Bank's board of directors approves fundraising of Rs 5,000 crore via multiple instruments like a follow-on public offer, rights issue, qualified institutional placement or preferential issue of shares.

    • HPL Electric & Power surges by 10% following the launch of HPL Fans in the Middle East, Africa, and SAARC countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka).

    • R R Kabel announces the termination of Chief Executive Officer (CEO) Dinesh Aggarwal, effective April 22, 2024. Managing Director Shreegopal Rameshwarlal Kabra will assume the responsibilities of CEO.

    • India’s flash manufacturing PMI remains unchanged at 59.1 in April. The flash services PMI rises to 61.7 in April from 61.2 in March. Business activity marks the highest increase in three months.

      Flash manufacturing #PMI unchanged at 59.1 in April.

      For the latest news and updates, visit: https://t.co/by4FF5o0Ewpic.twitter.com/uuabl00WZ6

      — NDTV Profit (@NDTVProfitIndia) April 23, 2024

    • BlackRock acquires a 1.3% stake in PTC India today. It now holds a 5.8% stake in the company.

    • Realty stocks like DLF, Macrotech Developers, Godrej Properties, and Prestige Estate Projects are rising in trade. All constituents of the broader Nifty Realty are trading in the green, causing the index to rise more than 2%.

    • Hatsun Agro Product surges as its net profit grows 108.8% YoY to Rs 52.2 crore in Q4FY24. Revenue increases by 14.4% YoY to Rs 2,046.9 crore, helped by capacity expansion in curd and milk products, and market assets. The company features in a screener of stocks where mutual funds have increased their shareholding in the past quarter.

    • Sandeep Kalra, CEO of Persistent Systems, highlights the company's target to generate $2 billion in revenue and increase margins by 200–300 basis points. He expects a healthy outperformance for FY25, driven by a robust order book and pipeline.

      #OnCNBCTV18 | #Investing in capabilities to achieve $2 bn #revenue target & lay foundation for a bigger co. Goal remains to achieve $2 bn of revenue & expand #margin by 200-300 bps over 3 years, says Sandeep Kalra of Persistent Systems pic.twitter.com/jlnncecovp

      — CNBC-TV18 (@CNBCTV18Live) April 23, 2024

    • JNK India raises Rs 195 crore from anchor investors ahead of its IPO by allotting 46.9 lakh shares at Rs 415 each. Investors include Goldman Sachs, Mirae, Edelweiss Trusteeship, Allianz Global Investors Fund, DSP Mutual Fund, Nippon Life India, Aditya Birla Sun Life Insurance and HDFC Mutual Fund.

    • Mahindra & Mahindra Financial Services falls after detecting fraud at a branch in the North East concerning retail vehicle loans. The fraud involved the forgery of KYC documents and resulted in the embezzlement of company funds. The estimated financial impact of this incident is around Rs 150 crore.

    • Rallis India falls sharply as its revenue declines by 16.6% YoY to Rs 436 crore in Q4FY24 due to weak export demand. However, its net loss contracts by 69.6% YoY to Rs 21 crore during the quarter, helped by reduced raw material costs. It features in a screener of stocks with declining revenue for the past two quarters.

    • Tejas Networks surges as it reports net profit of Rs 146.8 crore in Q4FY24, as against a loss of Rs 11.5 crore in Q4FY23. The profit rise is attributed to a 291.1% YoY growth in sales to Rs 1170.5 crore. The company appears in a screener for stocks with no debt.

    • Reliance Industries' Q4FY24 revenue grows by 10.8% YoY to Rs 2.6 lakh crore, helped by the retail, digital services and oil & gas segments. However, its net profit remains flat at Rs 21,243 crore due to increased inventory, excise duty and employee benefit expenses. The company shows up in a screener of stocks near their 52-week highs, with significant volumes.

    • Nifty 50 was trading at 22,419.35 (83.0, 0.4%), BSE Sensex was trading at 73,955.50 (306.9, 0.4%) while the broader Nifty 500 was trading at 20,665.15 (90.3, 0.4%).

    • Market breadth is surging up. Of the 1,837 stocks traded today, 1,427 were gainers and 359 were losers.

    Riding High:

    Largecap and midcap gainers today include Vodafone Idea Ltd. (14.35, 11.2%), Aditya Birla Capital Ltd. (216.85, 7.0%) and Linde India Ltd. (7,630.50, 4.8%).

    Downers:

    Largecap and midcap losers today include Mahindra & Mahindra Financial Services Ltd. (263.45, -5.5%), Sun Pharmaceutical Industries Ltd. (1,484.65, -3.6%) and ABB India Ltd. (6,307.45, -3.3%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Tejas Networks Ltd. (1,088.25, 20%), Cochin Shipyard Ltd. (1,251.95, 13.3%) and Aditya Birla Fashion and Retail Ltd. (263.50, 9.5%).

    Top high volume losers on BSE were Mahindra & Mahindra Financial Services Ltd. (263.45, -5.5%), Sun Pharmaceutical Industries Ltd. (1,484.65, -3.6%) and Gillette India Ltd. (6,342, -1.8%).

    Hatsun Agro Products Ltd. (1,116.40, 9%) was trading at 57.8 times of weekly average. Tata Teleservices (Maharashtra) Ltd. (84.90, 9.3%) and Welspun Living Ltd. (161.10, 8.2%) were trading with volumes 22.3 and 10.3 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    31 stocks made 52 week highs,

    Stocks touching their year highs included - Amara Raja Energy & Mobility Ltd. (1,160.20, 11.4%), Bharti Airtel Ltd. (1,342.35, 3.5%) and Indus Towers Ltd. (359.50, 2.8%).

    24 stocks climbed above their 200 day SMA including Tejas Networks Ltd. (1,088.25, 20%) and Tata Teleservices (Maharashtra) Ltd. (84.90, 9.3%). 4 stocks slipped below their 200 SMA including Sapphire Foods India Ltd. (1,412, -4.1%) and Crisil Ltd. (4,194.10, -2.7%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    22 Apr 2024
    Market closes higher, Jio Financial Services' Q4 profit increases 237.7% YoY to Rs 77.8 crore

    Market closes higher, Jio Financial Services' Q4 profit increases 237.7% YoY to Rs 77.8 crore

    By Trendlyne Analysis

    Nifty 50 closed at 22,336.40 (189.4, 0.9%), BSE Sensex closed at 73,648.62 (560.3, 0.8%) while the broader Nifty 500 closed at 20,574.85 (189.7, 0.9%). Market breadth is surging up. Of the 2,106 stocks traded today, 1,526 were on the uptrend, and 532 went down.

    Indian indices extended the gains from the afternoon session and closed in the green. The volatility index, Nifty VIX, dropped by 5.6% and closed at 12.7 points. Jio Financial Services' Q4FY24 profit increased 237.7% YoY to Rs 77.8 crore, and its total income surged over 6x YoY. Interest income has been the primary contributor to this revenue growth.

    Nifty Midcap 100 and Nifty Smallcap 100 closed higher following the benchmark index. Nifty PSU Banks and Nifty Pharma closed higher than Friday’s closing level. According to Trendlyne’s sector dashboard, telecommunication equipment emerged as the top-performing sector of the day, with a rise of over 7.1%. 

    Most European indices trade in the green, except for Italy’s FTSE MIB and Switzerland’s SMI trading lower. US indices futures trade higher, indicating a positive start. Software firm Salesforce Inc.'s share price gained 3% in the pre-market hours after reports emerged that the firm has dropped plans to acquire database firm Informatica.

    • Relative strength index (RSI) indicates that stocks like Vedanta, Thermax, Exide Industries and Indus Towers are in the overbought zone.

    • Voltas hits an all-time high of Rs 1,395 as UBS reportedly upgrades its rating to ‘Buy’ and raises the target price to Rs 1,800. The brokerage expects a potential increase in the company's market share in the room air conditioner (RAC) segment to around 23% by FY26. UBS also notes improvements in the cost structure, as the company has reworked its supply chain in the RAC segment.

    • Lloyds Engineering Works surges as it wins an order worth Rs 81 crore to supply naval equipment like ship steering gear and ship stabiliser systems.

    • Suraj Estates Developers acquires a 1,073.4 square meter land in Mumbai for Rs 33.1 crore. The land has a gross development value (GDV) of Rs 120 crore.

    • Honasa Consumer's skincare brand, The Derma Co, achieves an annual revenue rate (ARR) of Rs 500 crore, up from Rs 350 crore in September 2023. The brand sold over one crore units in FY24.

      ???? Honasa Consumer's The Derma Co reaches an annual revenue rate of Rs 500 crore! ????

      Here's more?????????????https://t.co/QCdC7mmthS#HonasaConsumer#TheDermaCo

      — Moneycontrol (@moneycontrolcom) April 22, 2024

    • Jio Financial Services rises as its Q4FY24 profit increases 237.7% YoY to Rs 77.8 crore, and its total income surges over 6x YoY. Interest income has been the primary contributor to this revenue growth. The company appears in a screener for stocks that hit new 52-week highs today.

    • Vodafone Idea's Rs 18,000 crore IPO gets bids for 6.3X the available 1,260 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 0.9X the available 630 crore shares on offer.

    • Escorts Kubota is rising as it increases the prices of its tractors, effective May 1. The price hikes will vary across models and locations.

    • Zomato hikes its platform fee from Rs 4 to Rs 5 per order in selective markets, marking its fourth convenience fee hike in the past year. Elara Capital forecasts that Zomato will process 85-90 crore orders in FY25 and expects a future increase in the platform fee to Rs 8-10 per order in select metro markets over the medium term. The brokerage also notes that the impact on EBITDA will be positive at 1-2%, as the fee hikes are targeted at specific markets.

      #Zomato hikes platform fee from Rs 4 to Rs 5 per order in selective markets.

      Read: https://t.co/17cIIWZmnxpic.twitter.com/lLjMlCdOlI

      — NDTV Profit (@NDTVProfitIndia) April 22, 2024

    • Emkay upgrades HDFC Life Insurance to a 'Buy' rating with an improved target price of Rs 725 per share. This indicates a potential upside of 19.6%. The brokerage cites increased synergy with HDFC Bank, branch expansion plans, and improving productivity at newer partnerships as key drivers for growth in FY25. It expects the company's gross written premium (GWP) to grow at a CAGR of 16% over FY24-27.

    • Consumer durables stocks like Voltas, Whirlpool of India, Aditya Birla Fashion & Retail and Havells India surge more than 3% in trade. All constituents of the broader BSE Consumer Durables index are also trading in the green, helping it to rise more than 2%.

    • Lupin rises as it launches Mirabegron extended-release tablets in the US market, used to treat bladder problems, after receiving approval from the US FDA. The product has annual sales of $2.4 billion.

    • Anil Gupta, CMD of KEI Industries, notes rising demand in the EHV (extra high voltage) cables segment and highlights the company's focus on the real estate & infrastructure and industrial segments. He adds that the company's revenue has grown at a CAGR of 16-17% over the past 15 years, and he expects this growth trend to continue.

      #OnETNOW | 'We are also heavily focusing on the industrial segment' says Anil Gupta of KEI Industries@keicablepic.twitter.com/5Y9pEznJTM

      — ET NOW (@ETNOWlive) April 22, 2024

    • Persistent Systems' net profit grows 1% QoQ to Rs 315.3 crore in Q4FY24, driven by lower finance costs. Its revenue is up 3.7% QoQ to Rs 2,590.5 crore, led by its BFSI and healthcare segments. It features in a screener of companies with increasing revenue every quarter for the past four quarters.

    • IREDA surges as its net profit grows by 33% YoY to Rs 337.4 crore in Q4FY24, helped by a reduction in the impairment of financial instruments. Revenue also increases by 33.7% YoY to 1,391.6 crore during the quarter. It appears in a screener of stocks with improving net profit and profit margin YoY.

    • Welspun Corp is rising as it bags multiple orders worth Rs 872 crore in India and overseas markets. The order includes the supply of concrete-coated LSAW (longitudinally submerged arc welding) pipes and bends for an oil transportation project in the Middle East.

    • Stefan Borgas, Global CEO of RHI Magnesita, expects the company's overall market share in India to rise to around 40% and its exports to increase to 25% by 2025. He adds that currently acquired assets are at 60% utilization, with plans to boost this to 75-80%.

      RHI Magnesita top bosses Global CEO Stefan Borgas & India head Parmod Sagar speak to @CNBCTV18Live

      Market share will move to 40%
      Exports at 12%, will increase to 25% in 2025
      Acquired assets now at 60% utilization levels but will move to 75%-80%https://t.co/krxnT6UAxf

      — Nigel D'Souza (@Nigel__DSouza) April 22, 2024

    • PSU bank stocks like State Bank of India, Punjab National Bank, Bank of Baroda, Indian Overseas Bank and, Union Bank of India are rising in trade. All constituents of Nifty PSU Bank are trading in the green.

    • Rakesh Jhunjhunwala's portfolio sells a 0.9% stake in Geojit Financial Services in Q4FY24. It now holds a 7.3% stake in the company.

    • Porinju Veliyath adds Mitsu Chem Plast to his portfolio in Q4FY24. He buys a 1.7% stake in the company.

    • GSPL plunges by 20% following a revised tariff order from the Petroleum and Natural Gas Regulatory Board (PNGRB), which mandates a 46.8% reduction in the current price of its high-pressure pipeline to Rs 18.1 per million British thermal units (mmbtu). This new tariff will take effect in May. As a result, brokerages like Systematix, CLSA, and Citi have downgraded the stock to a 'Sell' rating.

      Gujarat State Petronet shares hit 20% lower circuit; brokerage cut targets. Here's why?@apex_pawanhttps://t.co/RI7GEaDJdu

      — Business Today (@business_today) April 22, 2024

    • Ashish Kacholia adds Walchandnagar Industries to his portfolio in Q4FY24. He buys a 3.2% stake in the company.

    • HDFC Bank is falling as its asset quality declines with gross and net NPAs increasing by 12 bps YoY and 6 bps YoY respectively in Q4FY24. Its net profit grows by 37% YoY to Rs 16,511.9 crore, and revenue surges by 66.5% YoY to Rs 89,639 crore. It appears in a screener of stocks with increasing revenue for the past eight quarters.

    • KPIT Technologies is rising as its board of directors approves the acquisition of a 100% stake in PathPartner Technology for Rs 191 crore. The acquisition will help the company gain early access to semiconductor technologies, leveraging PathPartner's centres and technical assets for automotive OEMs and Tier 1 suppliers.

    • Wipro's net profit grows by 5.2% QoQ to Rs 2,834.6 crore in Q4Y24 due to reduced inventory, sub-contracting & technical fees, travel, communication, and marketing & brand building expenses. However, its revenue remains flat at Rs 22,208.3 crore, impacted by its Americas and APMEA business. The company appears in a screener of stocks with increasing net profit and profit margin (QoQ).

    • Upbeat trading today, as Nifty 50 was trading at 22,254.60 (107.6, 0.5%), BSE Sensex was trading at 73,088.33 (599.3, 0.8%) while the broader Nifty 500 was trading at 20,532.75 (147.6, 0.7%).

    • Market breadth is overwhelmingly positive. Of the 1,884 stocks traded today, 1,687 showed gains, and 167 showed losses.

    Riding High:

    Largecap and midcap gainers today include Union Bank of India (150.60, 7.0%), Voltas Ltd. (1,383.15, 6.4%) and YES Bank Ltd. (25.20, 5.2%).

    Downers:

    Largecap and midcap losers today include Persistent Systems Ltd. (3,508.50, -9.7%), Sona BLW Precision Forgings Ltd. (661.20, -2.9%) and Coromandel International Ltd. (1,094, -2.5%).

    Movers and Shakers

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

    Top high volume gainers on BSE included Tejas Networks Ltd. (906.90, 16.9%), ITI Ltd. (279.45, 12.6%) and Sterling and Wilson Renewable Energy Ltd. (617.65, 10%).

    Top high volume losers on BSE were Gujarat State Petronet Ltd. (303.85, -19.5%) and Persistent Systems Ltd. (3,508.50, -9.7%).

    Bombay Burmah Trading Corporation Ltd. (1,570.30, 4.9%) was trading at 19.8 times of weekly average. Maharashtra Scooters Ltd. (7961.95, 6.2%) and Voltas Ltd. (1,383.15, 6.4%) were trading with volumes 7.5 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 took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

    Stocks touching their year highs included - Bharti Airtel Ltd. (1,297.55, 0.7%), Eicher Motors Ltd. (4,466.95, 2.8%) and Hindustan Copper Ltd. (379.05, 4.1%).

    Stock making new 52 weeks lows included - Sheela Foam Ltd. (912.50, -2.3%).

    17 stocks climbed above their 200 day SMA including Tejas Networks Ltd. (906.90, 16.9%) and Whirlpool of India Ltd. (1,525.70, 5.8%). 8 stocks slipped below their 200 SMA including Gujarat State Petronet Ltd. (303.85, -19.5%) and Coromandel International Ltd. (1,094, -2.5%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    19 Apr 2024
    Market closes higher, ICICI Securities' Q4 net profit rises 104.4% YoY

    Market closes higher, ICICI Securities' Q4 net profit rises 104.4% YoY

    By Trendlyne Analysis

    Nifty 50 closed at 22,147 (151.2, 0.7%), BSE Sensex closed at 73,088.33 (599.3, 0.8%) while the broader Nifty 500 closed at 20,385.20 (60.5, 0.3%). Of the 2,068 stocks traded today, 923 showed gains, and 1,104 showed losses.

    Indian indices recovered from their day lows and closed in the green. The Indian volatility index, Nifty VIX, rose 3.2% and closed at 12.3 points. Infosys closed lower after its Q4FY24 revenue declined by 2.3% QoQ to Rs 37,923 crore, impacted by the financial services, retail, manufacturing, and life sciences segments.

    Nifty Smallcap 100 closed flat while the Nifty Midcap 100 closed in the red, underperforming the benchmark index. Nifty Bank and Nifty Metal closed higher than their Thursday close. According to Trendlyne’s sector dashboard, Telecom Services emerged as the top-performing sector of the week, with a rise of 6.3%.

    Major Asian indices closed in the red, except for India’s BSE Sensex index closing in the green. European indices traded in the red, amid weak global cues. US index futures traded lower, indicating a negative start to the trading session. Brent crude oil futures pared their gains from the early trading session and traded marginally lower on a volatile day of trade.

    • Syngene International sees a short buildup in its April 25 future series as its open interest rises 11.2% with a put-call ratio of 0.6.

    • Elecon Engineering rises as its Q4FY24 net profit increases 52.6% YoY to Rs 103.7 crore and revenue improves 33% YoY. This is attributed to the performance of the transmission equipment segment. The company appears in a screener for stocks with no debt.

    • Hindustan Zinc is falling as its Q4FY24 net profit declines 21.1% YoY to Rs 2,038 crore. Its revenue drops 12% YoY to Rs 7,285 crore on lower zinc and lead prices and a dip in lead volumes. The company features in a screener of stocks with high promoter pledges.

    • ICICI Securities' Q4FY24 net profit rises 104.4% YoY to Rs 535.4 crore. Revenue grows by 74% YoY to Rs 1,544.4 crore, driven by an increase in broking income from the cash segment and growth in the investment banking segment. The company appears in a screener for stocks with rising mutual fund holdings.

    • Indo Count acquires a home fashion brand Wamsutta from US-based Beyond for a cash consideration of $10.25 million. The company aims to strengthen its brand portfolio and enhance its position in the premium market segment through this acquisition.

      Indo Count, India’s leading bed linen manufacturer and exporter, has acquired international home fashion brand Wamsutta from US-based Beyond, Inc. This acquisition has been made for a cash-consideration basis for $ 10.25 million. https://t.co/v6B9h7TLmr

      — businessline (@businessline) April 19, 2024
    • Indus Towers hits a new 52-week high of Rs 359.5 after signing a memorandum of understanding (MoU) with NTPC Green Energy to explore joint development of grid-connected renewable energy-based power projects.

    • Vodafone Idea's Rs 18,000 crore IPO gets bids for 0.3X the available 1,260 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 0.1X the available 630 crore shares on offer.

    • Motilal Oswal Financial Services rises as it plans to consider a bonus issue of shares on April 26, pending shareholder approval.

    • Adani Group releases Rs 26,500 crore worth of pledged shares in FY24, with Adani Power benefiting the most, followed by Adani Ports & SEZ and Adani Green Energy. In March 2023, Adani Power pledged 72.7 crore promoter shares, which have since been reduced to 44.6 crore.

      #EarningsWithMC | ???? Adani Group releases pledged shares worth Rs 26,500 crore in FY24. ????@rravindia reports ?????????https://t.co/AsnfDTkZ26#AdaniPower#Adani#AdaniPorts#AdaniGreenEnergy@AdaniOnline

      — Moneycontrol (@moneycontrolcom) April 19, 2024
    • The Food Safety and Standards Authority of India to investigate public claims that Nestle India adds an average of 3 grams of sugar per serving to its Cerelac baby food products.

    • Foreign institutional investors sell Rs 14,438 crore in Indian equities in the past two weeks, according to Trendlyne's FII dashboard. Meanwhile, domestic institutional investors buy equities worth Rs 9,381.5 crore during the same period.

    • Anand Rathi gives a 'Buy' rating to Pricol with a target price of Rs 495 per share. This indicates a potential upside of 17.4%. The brokerage expects the company's revenue to surge on the back of demand for 2-wheelers, commercial vehicles, tractors and off-road vehicles. It expects the company's revenue to grow at a CAGR of 10.6% over FY23-25.

    • Citigroup maintains its 'Sell' rating on TVS Motors with an upgraded target price of Rs 1,450. The brokerage expects weak Q4FY24 results from the company. It notes that the increasingly competitive electric two-wheeler segment, combined with lower operating leverage, could impact TVS's performance in the quarter.

      Brokerage Radar | Citi on TVS Motor maintains sell; hikes target price@Citi@tvsmotorcompanypic.twitter.com/unZzVjjKPd

      — ET NOW (@ETNOWlive) April 19, 2024
    • SJVN’s subsidiary, SJVN Green Energy, forms a joint venture (JV) company with Assam Power Distribution to engage in power generation from renewable sources, including hydropower, by setting up power plants.

    • Dixon Technologies' arm Padget Electronics inks an agreement with Longcheer Mobile India for the manufacture and sale of smartphones for global brands, leveraging Longcheer's design and technology.

    • Aurionpro Solution rises as it plans to acquire a majority stake (67%) in Arya.ai for $16.5 million to bring in products and expertise in artificial intelligence, deep learning, intelligent automation, etc.

    • Nuvama expects 12 Indian stocks to be included and one high-conviction stock to be excluded during the MSCI's May 2024 rejig of its Emerging Markets Index. Expected inclusions are Indus Towers, NHPC, and Canara Bank, while Berger Paints will be excluded. The brokerage predicts that India's weight in the MSCI Emerging Markets Index will increase to nearly 20% from the current 18.2%.

      #Nuvama expects 12 Indian stocks to be included and one high-conviction exclusion during #MSCI rejig of its emerging markets index.

      Read more ??https://t.co/0iCjzU9wKK

      — NDTV Profit (@NDTVProfitIndia) April 19, 2024

    • ITC is rising as its arm ITC Infotech acquires a 100% stake in cloud services company Blazeclan Tech for Rs 485 crore.

    • Bajaj Auto is falling as its net profit misses Forecaster estimates by 2.6%, despite an 18% YoY rise to Rs 2,011.4 crore in Q4FY24. Revenue increases by 29.4% YoY, helped by improvements in the automotive and investment segments. It features in a screener of stocks with high promoter pledges.

    • The RBI approves the appointment of Ajith Kumar KK as the Managing Director and Chief Executive Officer of Dhanlaxmi Bank.

    • Tata Motors reportedly plans to import its high-end electric Jaguar Land Rover (JLR) vehicles, aiming to benefit from the recent government policy introduced in March. This policy offers reduced import duties to businesses agreeing to set up local manufacturing facilities and invest a minimum of $500 million within three years.

      India's #TataMotors is planning to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, according to a report.https://t.co/GVySRY97B1

      — Mint (@livemint) April 19, 2024

    • Anil Kumar Goel buys a 0.3% stake in Magadh Sugar & Energy in Q4FY24. He now holds a 4% stake in the company.

    • Rakesh Jhunjhunwala's portfolio sells a 0.4% stake in Federal Bank in Q4FY24. It now holds a 2.6% stake in the company.

    • Gokaldas Exports' board approves raising Rs 600 crore through a qualified institutional placement (QIP), with the floor price set at Rs 790 per share.

    • Infosys is falling as its Q4FY24 revenue declines by 2.3% QoQ to Rs 37,923 crore, impacted by the financial services, retail, manufacturing, and life sciences segments. However, its net profit rises by 30.5% QoQ to Rs 7,969 crore, helped by a tax refund of Rs 1,934 crore received during the quarter. It appears in a screener for stocks that have underperformed their industry’s price change over the past quarter.

    Riding High:

    Largecap and midcap gainers today include Bajaj Finance Ltd. (7,119.50, 3.3%), Bayer Cropscience Ltd. (5,716.90, 3.0%) and Escorts Kubota Ltd. (3,106.70, 2.9%).

    Downers:

    Largecap and midcap losers today include Tata Communications Ltd. (1,755.20, -5.3%), Supreme Industries Ltd. (4,067.55, -3.1%) and Lupin Ltd. (1,547.55, -2.9%).

    Crowd Puller Stocks

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

    Top high volume gainers on BSE included Motilal Oswal Financial Services Ltd. (2,232, 7.0%), Raymond Ltd. (2,011.95, 5.3%) and Chalet Hotels Ltd. (879.65, 4.0%).

    Top high volume losers on BSE were Tata Communications Ltd. (1,755.20, -5.3%) and Timken India Ltd. (3,043.30, 0.0%).

    TTK Prestige Ltd. (694.85, 1.3%) was trading at 3.7 times of weekly average. KSB Ltd. (4,656.45, 3.3%) and ICICI Securities Ltd. (710.65, 1.0%) were trading with volumes 3.7 and 3.1 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    16 stocks made 52-week highs, while 4 stocks were underachievers and hit their 52-week lows.

    Stocks touching their year highs included - Bharti Airtel Ltd. (1,289, 1.8%), Indus Towers Ltd. (351.40, 2.0%) and JSW Energy Ltd. (626.70, -0.3%).

    Stocks making new 52 weeks lows included - Asian Paints Ltd. (2,808.55, 0.0%) and Bata India Ltd. (1,320.40, -1.7%).

    8 stocks climbed above their 200 day SMA including Bajaj Finserv Ltd. (1,619, 1.6%) and Aavas Financiers Ltd. (1,548.35, 1.3%). 20 stocks slipped below their 200 SMA including Tata Communications Ltd. (1,755.20, -5.3%) and Supreme Industries Ltd. (4,067.55, -3.1%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    18 Apr 2024
    Market closes higher, HDFC Life's net profit grows by 13.7% YoY to Rs 411.6 crore in Q4FY24

    Market closes higher, HDFC Life's net profit grows by 13.7% YoY to Rs 411.6 crore in Q4FY24

    By Trendlyne Analysis

    Nifty 50 closed at 21,995.85 (-152.1, -0.7%), BSE Sensex closed at 72,611.45 (-332.2, -0.5%) while the broader Nifty 500 closed at 20,324.70 (-98.3, -0.5%). Market breadth is neutral. Of the 2,072 stocks traded today, 970 were on the uptrend, and 1,058 went down.

    Indian indices pared the gains from the afternoon session and closed in the red. The volatility index, Nifty VIX, rose by 3.3% and closed at 13 points. Brigade Enterprises reported its highest-ever quarterly presales of Rs 6,013 crore in FY24, driven by an improvement in real estate sales volume to 7.6 million square feet. Collections increased by 9.1% YoY to Rs 5,915 crore in FY24.

    Nifty Midcap 100 and Nifty Smallcap 100 closed lower following the benchmark index. Nifty Media closed higher than Tuesday’s closing level. All other major sectoral indices closed lower. According to Trendlyne’s sector dashboard, telecom services emerged as the top-performing sector of the day, with a rise of over 3.8%.

    Most European indices trade in the green. US indices futures trade lower, indicating a negative start. European Central Bank Vice-President Luis de Guindos stated that it is clear that interest rates could be cut in June.

    • Money flow index (MFI) indicates that stocks like Exide Industries, Vedanta, Thermax and Honeywell Automation India are in the overbought zone.

    • HDFC Life Insurance is rising as its net profit grows by 13.7% YoY to Rs 411.6 crore in Q4FY24. Revenue increases by 30.1% YoY to Rs 27,945.3 crore, owing to improvements in annual premium equivalent (APE) and sum assured. It appears in a screener of stocks with FIIs increasing their shareholding.

    • DroneAcharya Aerial Innovations rises as it signs an agreement with CBAI Technologies to supply 200 type-certified training drones for three years.

    • Crude oil prices have risen by about 16% this year to approximately $90 a barrel, driven by supply concerns amid escalating tensions in the Middle East.

      Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia.https://t.co/xYjzSjV0bq

      — ETMarkets (@ETMarkets) April 18, 2024
    • Sharekhan retains its 'Buy' call on Indian Hotels with an upgraded target price of Rs 679. This indicates a potential upside of 14.1%. The brokerage believes that the stock is well-positioned to benefit from the strong growth momentum in domestic tourism. It expects the company's revenue to grow at a CAGR of 16.5% over FY23-26.

    • Deepak S Parekh resigns as the Chairman of HDFC Life Insurance, effective April 18, 2024. The board appoints Keki M Mistry as his successor.

    • Power Mech Projects receives multiple orders worth Rs 232 crore. The orders include projects from Bharat Heavy Electricals, civil and architectural works for the superstructure of a powerhouse, and mechanical structure erection works from Jindal Steel Odisha.

    • Anil Agarwal, Founder and Chairman of Vedanta, predicts that Vedanta Resources, the group's UK-based flagship, will reach an annual operating profit of $7.5 billion in the next two years. He also stated that over the next three years, the company plans to deleverage $3 billion, adding to the $3.5 billion already deleveraged in the past two years.

      Billionaire Anil Agarwal on Wednesday said his group’s UK-based flagship Vedanta Resources Ltd. will be achieving an annual operating profit of $7.5 billion within the next two years.

      (@anirudh_laskar reports)https://t.co/peDyRBs06S

      — Mint (@livemint) April 18, 2024
    • Hathway Cable & Datacom is surging as it posts a net profit of Rs 34.6 crore in Q4FY24, compared to a net loss of Rs 14.6 crore in Q4FY23, helped by reduced employee benefits and operational expenses. Revenue increases by 7.3% YoY to Rs 493.4 crore, driven by improvements in the cable television business. It appears in a screener of stocks with increasing mutual fund holdings over the past quarter.

    • Talbros Automotive Components rises sharply as its joint venture firm, Marelli Talbros Chassis Systems, bags an order worth Rs 1,000 crore from a European OEM. The order is for the supply of suspension arms for both conventional internal combustion engine (ICE) vehicles and electric vehicle (EV) platforms.

    • Sunteck Realty is rising as it reports a 20% YoY growth in sales bookings to Rs 1,915 crore in FY24, driven by strong housing demand. The company’s collections stood at Rs 1,236 crore during the year.

    • Bharti Airtel is set to merge its Sri Lanka operations with Dialog Axiata in an equity swap deal. Dialog Axiata will acquire all issued shares of Airtel Lanka, in return for which Dialog will issue ordinary voting shares to Bharti Airtel, or 10.45% of Dialog Axiata's total issued shares.

      Bharti Airtel will merge its Sri Lanka operations with Dialog Axiata in an equity swap deal.https://t.co/medw7q3Nx1#Airtel#SriLanka#telecom

      — Business Standard (@bsindia) April 18, 2024
    • Capacit'e Infraprojects wins orders worth Rs 549 crore from Macrotech Developers and Raymond to develop a luxury residential project and enhance an existing building.

    • Sterling Tools surges as it inks a memorandum of understanding with South Korea’s Yongin Electronics to enhance its capability to provide solutions for electric vehicles, hybrids, and other automotive applications. This strategic agreement is expected to generate Rs 250 crore in business over the next five years.

    • Just Dial surges to its 52-week high of Rs 1,010 per share as its net profit grows by 38.4% YoY to Rs 115.7 crore in Q4FY24. Revenue improves by 16.2% YoY, driven by an increase in total traffic and active paid campaigns. It features in a screener of stocks with rising net cash flow and cash from operating activity.

    • Nestle India declines over 3% following a report by Public Eye and the International Baby Food Action Network. The Swiss investigative organization accuses the company of adding excessive sugar to baby foods in developing countries, including India, a practice not seen in the U.S. and Europe. Additionally, Nestle is alleged to have violated WHO guidelines that prohibit added sugar in baby food.

      #NestleIndia shares tumble to over two-month low. #NDTVProfitStocks

      Read more ??https://t.co/43OJFAEZHT

      — NDTV Profit (@NDTVProfitIndia) April 18, 2024
    • Brigade Enterprises is rising after achieving presales of Rs 6,013 crore in FY24, driven by an improvement in real estate sales volume to 7.6 million square feet. Collections increased by 9.1% YoY to Rs 5,915 crore in FY24.

    • Zee Entertainment Enterprises withdraws its application filed with the National Company Law Tribunal (NCLT) for the proposed merger with Sony.

    • Tata Communications is rising despite a 1.5% YoY decrease in net profit to Rs 321.2 crore in Q4FY24. However, revenue grows by 24.6% YoY, driven by the data services, transformation services, and campaign registry segments. Its EBITDA margin contracts by 430 basis points YoY, due to higher employee benefits and finance costs.

    • Max Financial gets approval from the Insurance Regulatory and Development Authority of India (IRDAI) for a capital infusion of Rs 1,612 crore (approximately 14.3 crore equity shares) by Axis Bank into Max Life Insurance. With this deal, Axis Bank will hold a 16.2% direct stake in the firm.

      JUST IN | Axis Bank invests Rs 1610 cr in Max Life at Rs 113.06/sh; bk's direct stake in Max now at 16.2%@AxisBankpic.twitter.com/GULbTpFS34

      — ET NOW (@ETNOWlive) April 18, 2024
    • Ashish Kacholia cuts stake in La Opala RG to below 1% in Q4FY24 from 1.7% in Q3FY24.

    • Rakesh Jhunjhunwala's portfolio sells a 0.3% stake in Tata Motors in Q4FY24. It now holds a 1.3% stake in the company.

    • Mohnish Pabrai sells a 2.6% stake in Edelweiss Financial Services in Q4FY24. He now holds a 5.1% stake in the company.

    • Ambuja Cements is rising as the Adani Group invests Rs 8,339 crore for an additional 3.6% stake. This investment brings Adani Group's total infusion in the company to Rs 20,000 crore.

    • Angel One is surging as its net profit grows by 27.4% YoY to Rs 339.9 crore in Q4FY24. Revenue rises by 64.4% YoY to Rs 1,357.3 crore on the back of increasing gross client acquisition and average daily turnover (ADTO). It appears in a screener of stocks with the highest recovery from their 52-week lows.

    • Nifty 50 was trading at 22,246.80 (98.9, 0.5%), BSE Sensex was trading at 73,186.58 (242.9, 0.3%) while the broader Nifty 500 was trading at 20,557 (134, 0.7%).

    • Market breadth is ticking up strongly. Of the 1,839 stocks traded today, 1,592 were on the uptrend, and 203 went down.

    Riding High:

    Largecap and midcap gainers today include Mankind Pharma Ltd. (2,395.65, 5.0%), JSW Energy Ltd. (628.50, 4.4%) and Bharti Airtel Ltd. (1,265.75, 4.1%).

    Downers:

    Largecap and midcap losers today include Indraprastha Gas Ltd. (437.30, -5.5%), Max Healthcare Institute Ltd. (778.10, -4.9%) and Oberoi Realty Ltd. (1,399.15, -4.2%).

    Volume Shockers

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

    Top high volume gainers on BSE included Just Dial Ltd. (1,009.35, 13.3%), Hitachi Energy India Ltd. (8,288.55, 9.6%) and Mastek Ltd. (2,794.15, 8.2%).

    Top high volume losers on BSE were Sterlite Technologies Ltd. (129.95, -8.7%), ABB India Ltd. (6,369.50, -4.1%) and Nestle India Ltd. (2,462.55, -3.3%).

    C.E. Info Systems Ltd. (1,942.45, 4.9%) was trading at 10.4 times of weekly average. ICICI Lombard General Insurance Company Ltd. (1710.10, 3.7%) and Angel One Ltd. (2,792.80, -2.1%) were trading with volumes 7.7 and 7.5 times weekly average respectively on BSE at the time of posting this article.

    BSE 500: highs, lows and moving averages

    31 stocks made 52 week highs,

    Stocks touching their year highs included - Aegis Logistics Ltd. (503.95, -4.2%), Amara Raja Energy & Mobility Ltd. (993.55, 2.6%) and Bharti Airtel Ltd. (1,265.75, 4.1%).

    10 stocks climbed above their 200 day SMA including Timken India Ltd. (3,044.50, 3.9%) and Crompton Greaves Consumer Electricals Ltd. (297.75, 2.9%). 14 stocks slipped below their 200 SMA including Ashok Leyland Ltd. (169.70, -3.7%) and Axis Bank Ltd. (1,024, -2.7%).

    Copy LinkShare onShare on Share on Share on
     
    T
    Trendlyne Marketwatch
    16 Apr 2024
    Market closes lower, Crisil's Q4FY24 net profit falls 5.5% YoY to Rs 137.7 crore

    Market closes lower, Crisil's Q4FY24 net profit falls 5.5% YoY to Rs 137.7 crore

    By Trendlyne Analysis

    Nifty 50 closed at 22,147.90 (-124.6, -0.6%), BSE Sensex closed at 72,943.68 (-456.1, -0.6%) while the broader Nifty 500 closed at 20,423 (-55.8, -0.3%). Market breadth is in the green. Of the 2,055 stocks traded today, 1,315 were on the uptrend, and 703 went down.

    Indian indices maintained the losses from the afternoon session and closed in the red. The volatility index, Nifty VIX, rose by 1.2% and closed at 12.6 points. Crisil's Q4FY24 net profit fell 5.5% YoY to Rs 137.7 crore. Its revenue decreased by 3.6% YoY to Rs 758.8 crore due to a fall in revenue from the research, analytics, and solutions segment.

    Nifty Midcap 100 closed flat, while Nifty Smallcap 100 closed higher with the benchmark index closing in the red. Nifty Media and Nifty Oil & Gas closed higher than Monday’s closing level. According to Trendlyne’s sector dashboard, hardware technology & equipment emerged as the top-performing sector of the day, with a rise of over 1.4%. 

    Most European indices trade in the red. US indices futures trade lower, indicating a negative start. China’s industrial production in March grew 4.5% YoY against estimates of 5.4% growth. The first two months of 2024 saw China’s industrial production increase by 7%.

    • Relative strength index (RSI) indicates that stocks like Exide Industries, Thermax, Vedanta and Honeywell Automation India are in the overbought zone.

    • Dynacons Systems & Solutions surges to its 20% upper circuit after bagging a Rs 233 crore order to supply its core banking solution upgrade & migration on the ASP model to the National Bank for Agriculture and Rural Development (NABARD).

    • Crisil's Q4FY24 net profit falls 5.5% YoY to Rs 137.7 crore. Its revenue decreases by 3.6% YoY to Rs 758.8 crore due to a fall in revenue from the research, analytics and solutions segment. The company appears in a screener for stocks with no debt.

    • India implements port restrictions on the export of prohibited or restricted essential commodities recently approved for shipment to the Maldives, as per the Directorate General of Foreign Trade (DGFT). Exports will now be permitted only through four customs stations, including Mundra Sea Port and Tuticorin Sea Port.

      India has introduced port limitations on the export of prohibited or restricted essential commodities recently permitted for shipment to Maldives, according to a notification from the Directorate General of Foreign Trade (DGFT).https://t.co/RzE8SIIqKO

      — Mint (@livemint) April 16, 2024

    • Steel Strips Wheels is rising as it signs an agreement with a PV original equipment manufacturer (OEM) to supply aluminium wheels.

    • Max Healthcare Institute to invest Rs 5,000 crore to double its bed capacity to over 8,000 in the next four to five years.

    • Motilal Oswal reiterates its 'Buy' rating on Tata Consultancy Services with a target price of Rs 4,600. This indicates a potential upside of 18.4%. The brokerage believes that the company is well-positioned to withstand the weakening macro environment due to its strong order book, exposure to long-duration orders and portfolio. It expects the company's revenue to grow at a CAGR of 10.5% over FY24-26.

    • Food Secretary Sanjeev Chopra states that despite a 5.5% YoY inflation in sugar, there are no supply-side shocks, and sugarcane farmers are receiving their dues on time. He adds that the industry would benefit from redirecting an additional 8 LMT of sugarcane for ethanol, compared to the earlier 17 LMT diversion.

      #Sugar for #ethanol to continue, no retail price #hike despite costlier edible oil imports: Food Secretary@abhhimanyushttps://t.co/D0O3zAN3HH

      — CNBC-TV18 (@CNBCTV18Live) April 16, 2024

    • Coal India’s capital expenditure rises by 6.5% YoY to Rs 19,840 crore in FY24. The company achieves 120% target satisfaction over the year’s target of Rs 16,500 crore.

    • IT stocks like Infosys, Coforge, LTIMindtree and Mphasis are falling in trade. The broader sectoral index, Nifty IT, is also trading in the red.

    • Happy Forgings surges as it bags an order to supply brake flanges for passenger vehicles to a tier 1 manufacturer of automobile driveline components and systems. The supply will begin in Q4FY26 and last till Q3FY35, with the company expected to receive Rs 60-70 crore per annum.

    • Jefferies initiates a 'Buy' rating on Bharti Hexacom with a target price of Rs 1,081. The brokerage notes the company's presence in markets with lower tele-density and better historical translation of tariff hikes into average revenue per user (ARPU), indicating a promising growth outlook.

      #Jefferies initiates coverage with 'Buy' on #BhartiHexacom.

      For more, visit our Research Reports section: https://t.co/x9gNkEkYp6pic.twitter.com/hqKCvTEyQq

      — NDTV Profit (@NDTVProfitIndia) April 16, 2024

    • PNC Infratech's arm PNC Raebareli Highways receives Rs 117.2 crore from the National Highways Authority of India as a one-time settlement for contractual disputes.

    • Caplin Point Laboratories is rising as its arm, Caplin Steriles, receives final approval from the US FDA for its Ofloxacin Ophthalmic Solution (eye drops). It is used for the treatment of eye infections and has an estimated annual sales of $52 million in the US.

    • Welspun Corp's US subsidiary, Welspun Tubular, files a lawsuit against a customer in the Superior Court of the State of Delaware for claims worth $15 million (approx. Rs 125.3 crore) for cancelling an order.

    • Jefferies maintains a 'Buy' rating on IDFC First Bank with a target price of Rs 100. The brokerage expects margin expansion driven by strong deposit figures. It highlights the importance of credit quality and notes that the rise in Return on Equity (RoE) will be crucial.

      Brokerage Radar | Jefferies on IDFC First maintains buy with target price of Rs 100@Jefferies@IDFCFIRSTBankpic.twitter.com/eN0bi7uFa6

      — ET NOW (@ETNOWlive) April 16, 2024

    • Sterlite Technologies surges following the announcement that it has raised Rs 1,000 crore through a Qualified Institutional Placement.

    • Jio Financial Services rises sharply as it forms a 50:50 joint venture (JV) with Blackrock to set up a wealth management and broking company.

    • Varun Beverages is rising as Morgan Stanley reportedly initiates coverage on the stock with an 'Overweight' rating and a target price of Rs 1,701. This indicates a potential upside of 21.6%. The brokerage is optimistic about the company's ability to outperform the non-alcoholic beverages industry, citing its track record of capitalizing on domestic and global opportunities and strong profitability.

    • The Centre raises the windfall tax on locally produced petroleum crude oil to Rs 9,600 per tonne from Rs 6,800 earlier. It keeps the tax on diesel and aviation turbine fuel (ATF) unchanged at ‘Nil’.

      The govt raises windfall tax on petroleum crude to Rs 9,600 per MT from today.#windfalltax#Crudeoil#tax#Indiahttps://t.co/1hFk8k7s3t

      — Business Standard (@bsindia) April 16, 2024

    • Rakesh Jhunjhunwala's portfolio sells a 0.6% stake in NCC in Q4FY24. It now holds a 12.5% stake in the company.

    • Vijay Kedia adds Mahindra Holidays & Resorts India to his portfolio in Q4FY24. He buys a 1% stake in the company.

    • Radhakishan Damani buys a 1.5% stake in VST Industries for approx Rs 86.3 crore in a bulk deal on Monday.

    • Cipla's subsidiary, Cipla Health, acquires Ivia Beaute's cosmetics and personal care business for Rs 130 crore, with an additional payment of Rs 110 crore upon meeting certain financial targets over the next three years.

    • Gloom in markets in early trading. Nifty 50 was trading at 22,148.05 (-124.5, -0.6%), BSE Sensex was trading at 72,892.14 (-507.6, -0.7%) while the broader Nifty 500 was trading at 20,410.90 (-67.9, -0.3%),

    • Market breadth is ticking up strongly. Of the 1,804 stocks traded today, 1,168 were gainers and 573 were losers.

    Riding High:

    Largecap and midcap gainers today include Patanjali Foods Ltd. (1,408.50, 5.1%), CG Power and Industrial Solutions Ltd. (517.65, 4.6%) and Zee Entertainment Enterprises Ltd. (147.70, 4.1%).

    Downers:

    Largecap and midcap losers today include Infosys Ltd. (1,414.45, -3.7%), MphasiS Ltd. (2,308, -3.6%) and Coforge Ltd. (5,209.90, -3.5%).

    Volume Rockets

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

    Top high volume gainers on BSE included Amara Raja Energy & Mobility Ltd. (967.95, 10.9%), Aegis Logistics Ltd. (525.95, 7.9%) and Sterling and Wilson Renewable Energy Ltd. (528.80, 6.5%).

    Top high volume losers on BSE were Gujarat Gas Ltd. (553.50, -3.4%), Crisil Ltd. (4,680.80, -3.2%) and LTIMindtree Ltd. (4,662.85, -3.2%).

    TTK Prestige Ltd. (695, -0.4%) was trading at 12.2 times of weekly average. Ingersoll-Rand (India) Ltd. (3,881.30, 5.6%) and Bharat Dynamics Ltd. (1,846.90, 4.7%) were trading with volumes 5.4 and 5.1 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 3 stocks hit their 52 week lows.

    Stocks touching their year highs included - Aegis Logistics Ltd. (525.95, 7.9%), Amara Raja Energy & Mobility Ltd. (967.95, 10.9%) and Indus Towers Ltd. (332.50, -0.6%).

    Stocks making new 52 weeks lows included - Bata India Ltd. (1,339, -0.3%) and Hindustan Unilever Ltd. (2,220.80, 1.2%).

    11 stocks climbed above their 200 day SMA including Patanjali Foods Ltd. (1,408.50, 5.1%) and Tejas Networks Ltd. (794.20, 3.6%). 16 stocks slipped below their 200 SMA including Coforge Ltd. (5,209.90, -3.5%) and Cholamandalam Investment & Finance Company Ltd. (1,131.50, -2.6%).

    Copy LinkShare onShare on Share on Share on
     
    more
    loading
    Logo Trendlyne

    Stay ahead of the market

    Company

    PrivacyDisclaimerTerms of Use Contact Us

    Resources

    Blog FAQsStock Market Widgets

    Copyright © 2025 Giskard Datatech Pvt Ltd