Markets rose in today's trading. Nifty 50 closed at 14741.25 (123.4, 0.8%) , BSE Sensex closed at 48949.76 (272.2, 0.6%) while the broader Nifty 500 closed at 12512.30 (99.3, 0.8%).
Market breadth is in the green. Of the 1735 stocks traded today, 931 were on the uptrend, and 758 went down.
Sundaram Clayton, Vardhman Textiles, Akzo Nobel India, Timken India, and Triveni Turbine are trading with higher delivery volume compared to the previous day.
Sundram Fasteners’ Q4 consolidated revenue increases by 53.2% YoY to Rs 1,273.1 crore, net profit rises 157.8% YoY to Rs 140.8 crore.
Caplin Point Laboratories’ Q4 consolidated revenue increases by 29.5% YoY to Rs 278.7 crore, with a 39% YoY growth in net profit to Rs 67.9 crore.
HDFC Securities maintains a 'Reduce' rating on Godrej Properties citing any potential upside to be priced high given the high valuations of the realty company.
Angel Broking is rising as the brokerage reports a 110% jump YoY in revenues to Rs 419 crore in Q4, with net profits up by 2.3x to Rs 101 crore.
Coforge reports a 13.7% rise YoY in consolidated revenues to Rs 1,261 crore in Q4FY21, with net profits up by 17% to Rs 133 crore.
Aarti Drugs is trading with 12 times the weekly average trading volume. Coforge, Gillette India, IOL Chemicals and Pharmaceuticals, and Quess Corp are trading in the green with five times the weekly average trading volume.
ABB Power Products and Systems India’s revenue rises 25.2% YoY to Rs 1,015.5 crore in Q4, net profit rises 35.1% YoY to Rs 39.4 crore.
IDBI Bank is rising as the Cabinet Committee on Economic Affairs approves a proposal for the disinvestment of Life Insurance Corporation (LIC) of India's stake in the bank. LIC holds 49.2% of the company.
Alembic Pharmaceuticals receives a 'Buy' rating from Nirmal Bang and a 'Hold' from ICICI Securities and Motilal Oswal respectively. The average target price is an upside of 8%.
Ceat’sQ4 consolidated revenue rises 46.1% YoY to Rs 2,298.7 crore and net profit rises 195.8% YoY to Rs 153 crore.
Adani Transmission, Century Textiles & Industries, Sundram Fasteners, and Solara Active Pharma Sciences are trading higher ahead of their Q4FY21 results later today.
HDFC Mutual Fund cuts its stake in Praj Industries by 0.24% disposing 4.3 lakh shares via an insider trade. The mutual fund house now holds 7.8% of the company.
Deepak Nitrite reports a 38.6% YoY rise in revenue to Rs 1,462 crore, led by the phenolics business which grew by 77%, net profits came in at Rs 290 crore, a 68% jump.
Tata Steel reports a net profit of Rs 7,161.9 crore in Q4 against a net loss of Rs 1,615.1 crore in the year-ago period, with revenue up by 38% YoY to Rs 49,977 crore on higher steel prices.
Nifty 50 was trading at 14651.50 (33.7, 0.2%) , BSE Sensex was trading at 48819.10 (141.6, 0.3%) while the broader Nifty 500 was trading at 12444.30 (31.3, 0.3%)
Market breadth is highly positive. Of the 1629 stocks traded today, 1087 were on the uptick, and 505 were down.
Riding High:
Largecap and midcap gainers today include Motilal Oswal Financial Services Ltd. (706.50, 7.09%), IDBI Bank Ltd. (40.45, 6.59%) and Hindalco Industries Ltd. (388.00, 5.69%).
Downers:
Largecap and midcap losers today include Bandhan Bank Ltd. (294.85, -5.27%), Punjab National Bank (36.40, -2.80%) and Larsen & Toubro Infotech Ltd. (3810.00, -2.69%).
Movers and Shakers
34 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Coforge Ltd. (3387.00, 17.09%), Aarti Drugs Ltd. (789.00, 10.39%) and Dishman Carbogen Amcis Ltd. (179.25, 10.31%).
Top high volume losers on BSE were Affle (India) Ltd. (5285.00, -3.91%), Cera Sanitaryware Ltd. (3952.20, -2.42%) and Tube Investments of India Ltd. (1232.00, -1.23%).
Gillette India Ltd. (5582.45, 2.45%) was trading at 10.1 times of weekly average. IOL Chemicals and Pharmaceuticals Ltd. (649.05, 7.72%) and Force Motors Ltd. (1182.00, 6.68%) were trading with volumes 9.3 and 8.0 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
23 stocks hit their 52 week highs,
Stocks touching their year highs included - Ajanta Pharma Ltd. (1997.70, 2.56%), Apollo Hospitals Enterprise Ltd. (3339.50, 0.20%) and Bharat Heavy Electricals Ltd. (57.70, 1.67%).
13 stocks climbed above their 200 day SMA including Force Motors Ltd. (1182.00, 6.68%) and Mishra Dhatu Nigam Ltd. (196.00, 6.49%). 6 stocks slipped below their 200 SMA including AIA Engineering Ltd. (1852.05, -1.44%) and Alembic Pharmaceuticals Ltd. (944.00, -1.23%).