Trendlyne Marketwatch    
07 May 2021
Markets close higher, HDFC's Q4 net profits up by 42% YoY

Markets closed up today. Nifty 50 closed at 14810.80 (86, 0.6%) , BSE Sensex closed at 49206.47 (256.7, 0.5%) while the broader Nifty 500 closed at 12552.90 (51, 0.4%)

Market breadth is in the green. Of the 1741 stocks traded today, 954 were in the positive territory and 748 were negative.

  • Housing Development Finance Corporation reports a 42% jump YoY in standalone net profits to Rs 3,179 crore in Q4, with net interest income growing by 14% YoY to Rs 4,065 crore. 

  • Indian Energy Exchange reports a 6.6% decline in power trading in April, mainly led by southern and western states due to the second wave of Covid-19.

  • HDFC Securities maintains an ‘Add' rating on Larsen & Toubro Infotech after its Q4 update. The brokerage's target price is at an 11% upside.

  • Eris Lifesciences is trading with 67 times the average weekly trading volume. Suprajit Engineering, Procter & Gamble Health, ITI, and TCI Express are trading with more than 10 times the average weekly trading volume.

  • Nifty Metal is trading higher led by strong gains in National Aluminium Company, Tata Steel, Steel Authority of India (SAIL), and Vedanta.

  • Praj Industries hits a lifetime high after strong Q4 results. Its net profit doubled YoY to Rs 52 crore, with revenue up by 91.5% YoY to Rs 567 crore.

  • Tata Motors will raise prices of its passenger vehicles by an average of 1.8% from May 8 to cover rising input costs.

  • Dabur, Navin Flourine International, and EIH are trading lower and UltraTech Cement is trading higher ahead of their Q4FY21 results later today.

  • Mohnish Pabrai lowers his stake in Edelweiss Financial Services to 6% in Q4FY21 from 6.6% in the previous quarter. He now holds 5.6 crore shares worth Rs 345.8 crore.

  • Hero MotoCorp reports a 13% decline in revenues QoQ to Rs 8,686 crore in Q4FY21, with net profits down by 15% QoQ at Rs 865 crore due to muted two-wheeler demand.

  • ICICI Securities upgrades its rating on Coforge to 'Buy' from 'Hold' due to the IT services company's BFSI revival and the acquisition of SLK Global. The brokerage's target price is at a 17% upside.

  • Hikal’s Q4 consolidated revenue up by 40.5% YoY to Rs 535.5 crore, with a 107.7% YoY growth in net profits to Rs 50.9 crore.

  • Rakesh Jhunjhunwala decreases his stake in Ion Exchange in Q4FY21. He now holds less than 1% of the company, from 5.3% in the previous quarter.

  • Adani Transmission Q4 consolidated net profit rises 333% YoY to Rs 257 crore, with an 18% increase YoY in EBITDA to Rs 1,034 crore. 

  • Markets opened high. Nifty 50 was trading at 14852.25 (127.5, 0.9%) , BSE Sensex was trading at 49362.36 (412.6, 0.8%) while the broader Nifty 500 was trading at 12595.80 (93.9, 0.8%)

  • Market breadth is highly positive. Of the 1627 stocks traded today, 1169 were gainers and 410 were losers.

Riding High:

Largecap and midcap gainers today include NMDC Ltd. (184.25, 8.13%), Steel Authority of India (SAIL) Ltd. (144.25, 7.93%) and Tata Steel Ltd. (1182.35, 7.40%).

Downers:

Largecap and midcap losers today include SRF Ltd. (6280.00, -8.50%), Aarti Industries Ltd. (1696.20, -5.03%) and IDBI Bank Ltd. (38.90, -4.07%).

Volume Shockers

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

Top high volume gainers on BSE included South Indian Bank Ltd. (9.32, 15.78%), Vaibhav Global Ltd. (1002.90, 14.83%) and Gujarat Mineral Development Corporation Ltd. (68.00, 12.68%).

Top high volume losers on BSE were SRF Ltd. (6280.00, -8.50%), Procter & Gamble Health Ltd. (5897.90, -6.04%) and Tata Consumer Products Ltd. (629.00, -3.69%).

Eris Lifesciences Ltd. (640.75, 6.33%) was trading at 78.4 times of weekly average. Suprajit Engineering Ltd. (246.20, -0.95%) and TCI Express Ltd. (945.20, 5.36%) were trading with volumes 12.1 and 11.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

32 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Adani Transmission Ltd. (1176.45, 4.43%), Bajaj Finserv Ltd. (11319.05, 2.64%) and CCL Products India Ltd. (314.55, 0.91%).

10 stocks climbed above their 200 day SMA including Himadri Speciality Chemical Ltd. (48.75, 6.56%) and Muthoot Finance Ltd. (1215.00, 3.83%). 7 stocks slipped below their 200 SMA including Procter & Gamble Health Ltd. (5897.90, -6.04%) and Force Motors Ltd. (1150.00, -3.11%).

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