Markets close higher, Syngene to double its remdesivir production capacity

Nifty 50 closed at 15370.15 (68.7, 0.5%) , BSE Sensex closed at 51115.22 (97.7, 0.2%) while the broader Nifty 500 closed at 13085.85 (63.7, 0.5%)

Market breadth is in the green. Of the 1737 stocks traded today, 912 were in the positive territory and 793 were negative.

Cadila Healthcare’s Q4 net profit nearly doubles YoY to Rs 679 crore and revenues up by 3.5% to Rs 3,756.2 crore
Alkyl Amines Chemicals and HEG are trading higher, whereas Eicher Motors and Page Industries are trading lower ahead of their Q4FY21 results later today.
Sterlite Technologies, Syngene International, DCM Shriram, and MindTree are trading in the green with more than eight times their average weekly trading volume.
HDFC Securities maintain a ‘Reduce’ rating on Emami, expecting weaker sales of immunity boosters and sanitizers due to the lockdown in Q1FY22.
Quick-service restaurant chain Burger King India's total income in Q4 grows by 4% YoY to Rs 199.4 crore, with a 30% fall in net loss to Rs 26 crore.
Axis Securities upgrades its rating on VIP Industries to 'Buy' from 'Hold' expecting travel to recover gradually in H2FY22. The brokerage's target price is at a 13% upside.
Apollo Tyres' promoters purchase nearly 7 lakh shares worth Rs 15 crore via two market purchases. The tyre maker's stock is down by 14% since March.
Mohnish Pabrai's investment fund cuts its stake by 2% in Rain Industries, selling 70 lakh shares. The fund also reduces its stake in Kolte-Patil Developers by 2.2% disposing 70 lakh shares.
Syngene International aims to supply 5 lakh vials of remdesivir, an antiviral drug used to treat Covid-19 patients, in June 2021. This is 2x of its April production capacity.
Manappuram Finance reports an 18.5% rise YoY in net profits to Rs 468.3 crore in Q4, while revenues remain flat at Rs 1,630 crore.
SBI Mutual Fund acquires 28.2 lakh shares of Kalpataru Power Transmissions for Rs 120 crore via a bulk deal, increasing its stake by 1.9%.
Bharat Petroleum Corporation's Q4 revenue up by 21% YoY to Rs 99,733 crore, with net profits at Rs 10,301 crore, against a loss of Rs 1,847 crore in the year ago period.
Nifty 50 was trading at 15311.75 (10.3, 0.1%) , BSE Sensex was trading at 51050.59 (33.1, 0.1%) while the broader Nifty 500 was trading at 13039.30 (17.1, 0.1%)
Market breadth is in the green. Of the 1683 stocks traded today, 956 showed gains, and 693 showed losses.

Riding High:

Largecap and midcap gainers today include Punjab National Bank (42.15, 7.39%), Piramal Enterprises Ltd. (1808.60, 6.29%) and ABB India Ltd. (1571.00, 4.64%).

Downers:

Largecap and midcap losers today include Adani Power Ltd. (95.20, -4.08%), Cummins India Ltd. (771.75, -3.85%) and Berger Paints (India) Ltd. (800.95, -3.77%).

Volume Rockets

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

Top high volume gainers on BSE included Jai Corp Ltd. (113.80, 9.85%), Alkyl Amines Chemicals Ltd. (3858.00, 7.76%) and DCM Shriram Ltd. (698.25, 7.67%).

Top high volume losers on BSE were Shriram City Union Finance Ltd. (1710.00, -5.15%), FDC Ltd. (330.70, -4.85%) and Adani Power Ltd. (95.20, -4.08%).

Sterlite Technologies Ltd. (257.15, 6.72%) was trading at 12.2 times of weekly average. Adani Transmission Ltd. (1438.00, 3.26%) and Adani Total Gas Ltd. (1322.20, -0.41%) were trading with volumes 11.2 and 8.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

32 stocks overperformed with 52 week highs,

Stocks touching their year highs included - ACC Ltd. (1987.30, 0.50%), Ambuja Cements Ltd. (328.50, 1.67%) and Asian Paints Ltd. (2969.95, 0.96%).

12 stocks climbed above their 200 day SMA including GlaxoSmithKline Pharmaceuticals Ltd. (1511.00, 3.21%) and JM Financial Ltd. (87.50, 2.64%). 4 stocks slipped below their 200 SMA including Vakrangee Ltd. (42.65, -4.91%) and Mishra Dhatu Nigam Ltd. (191.00, -3.27%).