Markets closed on a low note. Nifty 50 closed at 14698.75 (-152, -1.0%) , BSE Sensex closed at 48690.80 (-471.0, -1.0%) while the broader Nifty 500 closed at 12541.50 (-100.8, -0.8%)
Market breadth is in the red. Of the 1741 stocks traded today, 797 were in the positive territory and 922 were negative.
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HDFC Securities maintains a 'Buy' on UltraTech Cement on the back of strong growth in sales volume. The brokerage's target price is at an upside of 15%.
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Siemens reports a 90% growth YoY in net profits to Rs 334 crore in Q4FY21, with revenues up by 31% to Rs 348.3 crore.
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Godrej Industries and Godrej Consumer Products are trading with 43 and 26 times the weekly average trading volume respectively.
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Edelweiss maintains a 'Buy' rating on Navin Fluorine International on the back of a strong performance in its specialty chemicals segment. The brokerage's target price is at an upside of 10%.
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Asian Paints, Lupin, Pidilite Industries, and UPL are trading higher ahead of their Q4FY21 results later today.
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HDFC Securities maintains a 'Buy' rating on Kansai Nerolac Paints, the third-largest domestic paints maker, with a target price at an upside of 10% (lowered from 14% earlier).
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Dr. Reddy's Laboratories enters into a royalty-free licensing agreement with Eli Lily to make Baricitinib, a drug used to treat Covid-19 patients. Earlier this week, Cipla, Lupin, and Sun Pharmaceutical Industries received licenses to make Baricitinib.
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ICICI Bank's managing director Sandeep Bakhshi sells 1.2 lakh shares of the private bank for Rs 7.3 crore via an insider trade.
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Godrej Consumer Products reports a 27% YoY growth in sales for Q4FY21 at Rs 2,730 crore led by the home care and health and hygiene segments, with net profits up nearly 60% to Rs 365 crore
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IDBI Bank lowers its stake by 2.1% in Bajaj Hindusthan Sugar selling 2.4 crore shares in the sugar producer via an insider trade.
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Granules India's consolidated revenue declines by 7% YoY to Rs 860 crore due to shortage of raw materials and lower capacity utilisation, net profits were lower by 13% QoQ at Rs 127 crore.
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Indian markets slumped today. Nifty 50 was trading at 14,775.10 (-75.7, -0.5%) , BSE Sensex was trading at 48,780.67 (-381.1, -0.8%) while the broader Nifty 500 was trading at 12,612.40 (-29.9, -0.2%)
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Market breadth is in the green. Of the 1,652 stocks traded today, 1,010 were gainers and 592 were losers.
Riding High:
Largecap and midcap gainers today include Godrej Consumer Products Ltd. (869.65, 21.43%), Vodafone Idea Ltd. (8.79, 8.52%) and Godrej Industries Ltd. (550.00, 7.92%).
Downers:
Largecap and midcap losers today include Steel Authority of India (SAIL) Ltd. (133.00, -5.27%), Thermax Ltd. (1413.40, -5.16%) and Tata Steel Ltd. (1174.00, -4.85%).
Volume Rockets
41 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Godrej Consumer Products Ltd. (869.65, 21.43%), Venky's (India) Ltd. (2143.20, 20.61%) and Chambal Fertilisers & Chemicals Ltd. (256.90, 11.41%).
Top high volume losers on BSE were Linde India Ltd. (1741.50, -2.88%), TV Today Network Ltd. (279.65, -0.48%) and Bajaj Holdings & Investment Ltd. (3506.05, -0.21%).
Godrej Industries Ltd. (550.00, 7.92%) was trading at 62.9 times of weekly average. Godrej Agrovet Ltd. (533.00, 0.28%) and Siemens Ltd. (2011.00, 3.20%) were trading with volumes 18.9 and 16.9 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
50 stocks overperformed with 52 week highs,
Stocks touching their year highs included - Adani Transmission Ltd. (1200.85, 0.30%), Balkrishna Industries Ltd. (1923.30, 0.93%) and Bharat Electronics Ltd. (146.25, -1.55%).
13 stocks climbed above their 200 day SMA including UCO Bank (12.68, 8.38%) and KRBL Ltd. (233.50, 6.79%). 3 stocks slipped below their 200 SMA including Granules India Ltd. (336.70, -6.45%) and Force Motors Ltd. (1187.95, -1.86%).
