Trendlyne Analysis
Nifty 50 closed at 17,888.95 (-40.7, -0.2%) , BSE Sensex closed at 60,029.06 (-109.4, -0.2%) while the broader Nifty 500 closed at 15,314.65 (12.0, 0.1%)
Market breadth is in the green. Of the 1,798 stocks traded today, 1,112 showed gains, and 627 showed losses.
Kalpataru Power Transmissions, Computer Age Management Services, Cyient, and Gujarat Pipavav Port are trading with higher delivery volumes compared to Monday
Sagar Cements reports its lowest net profits (Rs. 20.7 crore) in six quarters due to slowing QoQ volumes and a steep rise in fuel costs.
Sun Pharmaceutical Industries’ Q2FY22 profit rises by 13% YoY to Rs 2,047 crore with 12.5% growth in revenues to Rs 9,626 crore.
Real estates stocks are trading up with stocks like Prestige Estates, Brigade Enterprises, Phoenix Mills rising. The broader sectoral index the Nifty Realty is trading near its 52-week highs.
Burger King India is rising after the company announces the acquisition of an 83.2% stake in PT Sari Burger Indonesia, which manages the Burger King brand in Indonesia.
Fino Payments Bank’s Rs 1,200.3 crore IPO receives bids for 1.04X of total shares on offer, with the retail portion oversubscribed by 5X on the last day of bidding.
TVS Motor Company’s total wholesales in October 2021 falls 10% YoY to 3.4 lakh units. Domestic wholesales decline by 14% to 2.5 lakh units while exports are up by 2.4% to 82,736 units
Edelweiss maintains a 'Buy' rating on GNA Axles with a target price at a 29% upside due to the company gaining market share in the recovering commerical vehicle segment.
Tube Investments of India is trading with more than eight times its weekly average trading volume. Bajaj Consumer Care, Spandana Sphoorty Financial, and Bayer Cropscience are trading at more than five times their weekly average trading volumes.
Hero MotoCorp’s total wholesales in October 2021 falls 32% YoY to 5.5 lakh units. Domestic wholesales declines by 33.2% to 5.3 lakh units while exports is up 28.5% to 20,191 units.
PB Fintech's (the holding company of Policybazaar and Paisabazaar) Rs 3,451.2 crore IPO receives bids for 60% of the shares on offer with the retail portion fully booked on the second day of bidding.
Geojit BNP Paribas maintains a ‘Hold’ rating on ICICI Lombard General Insurance with a target price upside of 9% due to rising health insurance claims but subdued demand for motor insurance.
Tata Motors' total wholesales in October 2021 rises by 32% YoY to 69,185 units. Commercial vehicle sales rose by 18% to 33,674 units with passenger vehicle sales up 44% to 33,925 units due to a 3.7X jump in electric vehicle sales.
Eicher Motors' Royal Enfield wholesales for October 2021 declines by 34% YoY to 44,133 units. Domestic wholesales falls by 35% to 40,611 units and exports is lower by 13% to 3,522 units.
Vedanta’s net profit rises 5X YoY to Rs 4,615 crore as crude and gas prices shoot up. The revenue for the company surges by 44% YoY to Rs 30,048 crore.
Whirlpool of India's Q2FY22 revenues remain flat on a YoY basis at Rs 1,607 crore, with 3X growth in net profits to Rs 413.1 crore due to an expectional gain of Rs 324 crore due to the acquisition of Elica PB.
Nifty 50 was trading at 17,973.60 (44.0, 0.3%) , BSE Sensex was trading at 60,194.12 (55.7, 0.1%) while the broader Nifty 500 was trading at 15,364.10 (61.4, 0.4%)
Market breadth is highly positive. Of the 1,708 stocks traded today, 1,335 showed gains, and 324 showed losses.
Riding High:
Largecap and midcap gainers today include RBL Bank Ltd. (206.75, 11.76%), Shriram Transport Finance Company Ltd. (1587.45, 10.96%) and IDBI Bank Ltd. (56.95, 8.27%).
Downers:
Largecap and midcap losers today include Bayer Cropscience Ltd. (4650.00, -7.37%), PI Industries Ltd. (2781.90, -7.23%) and Tata Steel Ltd. (1313.65, -3.75%).
Volume Shockers
34 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Allcargo Logistics Ltd. (328.70, 19.99%), Tube Investments of India Ltd. (1657.20, 14.65%) and RBL Bank Ltd. (206.75, 11.76%).
Top high volume losers on BSE were Bayer Cropscience Ltd. (4650.00, -7.37%), PI Industries Ltd. (2781.90, -7.23%) and Bajaj Consumer Care Ltd. (221.25, -5.97%).
VRL Logistics Ltd. (398.35, 4.98%) was trading at 12.8 times of weekly average. AIA Engineering Ltd. (1938.60, 0.05%) and La Opala RG Ltd. (335.15, 8.57%) were trading with volumes 8.5 and 8.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
19 stocks hit their 52 week highs, while 2 stocks tanked below their 52 week lows.
Stocks touching their year highs included - Allcargo Logistics Ltd. (328.70, 19.99%), Canara Bank (224.25, 4.47%) and Grasim Industries Ltd. (1748.15, -2.28%).
Stocks making new 52 weeks lows included - Bayer Cropscience Ltd. (4650.00, -7.37%) and Aarti Drugs Ltd. (574.15, -0.86%).
21 stocks climbed above their 200 day SMA including RBL Bank Ltd. (206.75, 11.76%) and Great Eastern Shipping Company Ltd. (342.15, 3.60%). 3 stocks slipped below their 200 SMA including SIS Ltd. (435.95, -3.14%) and Kalpataru Power Transmissions Ltd. (407.35, -0.59%).