Trendlyne Analysis
Markets closed up today. Nifty 50 closed at 17,805.25 (179.6, 1.0%) , BSE Sensex closed at 59,855.93 (672.7, 1.1%) while the broader Nifty 500 closed at 15,318.75 (114.2, 0.8%)
Market breadth is even. Of the 1,843 stocks traded today, 931 were on the uptick, and 885 were down.
Hatsun Agro Products, Cholamandalam Financial Holdings, SIS, and Bayer Cropscience are trading with higher volumes as compared to Monday.
Bank of Maharashtra's gross advances at the end of Q3FY22 grow 23% YoY to Rs 1.29 lakh crore. The bank’s deposits increase by 15.21% YoY to 1.86 lakh crore. CASA deposits rise 24.6% YoY to Rs 1.02 lakh crore
Yes Bank’s loan advances at the end of Q3FY22 grow 3.9% YoY to Rs 1.76 lakh crore. The bank’s deposits increase by 26% YoY to 1.84 lakh crore with CASA deposits rising 47.5% YoY to Rs 0.56 lakh crore
ICICI Securities gives a ‘Buy’ rating to Fino Payments Bank with a target price upside of 24% to Rs 475. The brokerage see minimum capital spends and complete focus on loan distribution give the company a strong flexibility in costs and limit credit risk. It also expects the company’s revenues to grow by 20% CAGR over FY21-24.
Hinduja Global Solutions surges and hits a new 52-week high of Rs 3,920 as the board of directors will consider a bonus issue of shares and an interim dividend for FY22.
Vedanta's Q3FY22 cast metal aluminium production rises 16% YoY to 5,79,000 tonnes, while integrated metal production rises to 11% 2,35,000 tonnes. The mining company's pig iron production rises 39% to 2,02,000 tonnes while steel production rises 3% to 3,50,000 tonnes and copper cathode production rises 33% to 33,000 tonnes in Q3 FY22.
Marico slips in trade as its Q3FY22 sales volumes are flat owing to weak consumer demand and high inflation, according to the company's pre-result filing. Its flagship product Parachute Coconut Oil particularly registers weak sales growth in Q3
CLSA downgrades call on Tata Motors to 'Sell' from 'Buy' with a target price of Rs 408. The analysts believe Tata Motors electric vehicle (EV) business is over valued at $9.1 billion. Since, analysts expect most auto volumes to come from EVs and hybrids, JLR, Tata Motors most profitable brand does not have any launches in the EV segment till 2024 which may hurt its volume growth. However, with increasing profitability of JLR, Tata Motors may see a reduction in consolidated net auto debt in coming quarters.
Hinduja Global Solutions is trading with more than 15 times its weekly average trading volume. Varroc Engineering, CSB Bank, Affle (India), and Hindustan Zinc are trading at more than six times their weekly average trading volumes.
APL Apollo Tubes' Q3FY22 sales volume falls 17% YoY to 4,03,729 tonnes. The management attributed the decline in Q3 volumes to weak construction activity and its distributors reducing stocks in anticipation of a fall in steel prices.
HDFC Bank’s loan advances at the end of Q3FY22 grow 16.4% YoY to Rs 12.6 lakh crore with commercial and rural banking loans growing by 29.5% YoY. The bank’s deposits increase by 13.8% YoY to 14.46 lakh crore with retail deposits rising 17% YoY. CASA deposits rise 24.6% YoY to Rs 6.8 lakh crore.
Goldman Sachs (Singapore) buys 30 lakh shares (0.4% stake) of Lemon Tree Hotels at an average price of Rs 46.6 in a bulk deal on Monday
Hindustan Zinc is rising after it reports an 11% YoY rise in Q3FY22 integrated metal production at 2,61,000 tonnes. The production for nine months ended FY22 rises 6% YoY to 7,22,000 tonnes.
Adani Ports & Special Economic Zone cargo volumes rise 35% YoY during nine months period ending December 2021 to 234.31 million metric tonnes. Mundra Port’s cargo volumes rise 8% to 113 million metric tonnes while non-Mundra port cargo volumes increase by 74%.
Riding High:
Largecap and midcap gainers today include NTPC Ltd. (132.90, 5.48%), Pidilite Industries Ltd. (2,599.20, 5.06%) and Aditya Birla Fashion and Retail Ltd. (286.35, 4.66%).
Downers:
Largecap and midcap losers today include Vedanta Ltd. (335.25, -5.24%), Tata Motors Limited (DVR) (244.50, -2.76%) and Cadila Healthcare Ltd. (464.65, -2.64%).
Volume Shockers
38 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Balrampur Chini Mills Ltd. (427.30, 14.16%), Affle (India) Ltd. (1,317.40, 10.31%) and EID Parry (India) Ltd. (500.75, 9.86%).
Top high volume losers on BSE were Vedanta Ltd. (335.25, -5.24%), Suzlon Energy Ltd. (10.20, -4.67%) and Dabur India Ltd. (574.05, -1.22%).
Varroc Engineering Ltd. (365.30, 7.25%) was trading at 21.2 times of weekly average. CSB Bank Ltd. (251.75, 6.11%) and DCM Shriram Ltd. (1,058.85, 9.16%) were trading with volumes 13.0 and 11.0 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 hit their 52-week lows.
Stocks touching their year highs included - Allcargo Logistics Ltd. (399.85, -1.85%), Astral Ltd. (2,396.65, 2.77%) and Fortis Healthcare Ltd. (304.25, -1.70%).
Stock making new 52 weeks lows included - Mas Financial Services Ltd. (623.90, -0.90%).
29 stocks climbed above their 200 day SMA including Varroc Engineering Ltd. (365.30, 7.25%) and NOCIL Ltd. (245.95, 6.13%). 11 stocks slipped below their 200 SMA including Vakrangee Ltd. (42.15, -3.33%) and Granules India Ltd. (325.60, -3.08%).