Markets close lower, Uflex's Q4 net profit jumps 2.6X YoY

Nifty 50 closed at 15,730.65 (-17.8, -0.1%) , BSE Sensex closed at 52,482.71 (-67.0, -0.1%) while the broader Nifty 500 closed at 13,481.20 (-0.8, -0.0%)

Market breadth is neutral. Of the 1,759 stocks traded today, 897 were on the uptrend, and 828 went down.

Godrej Industries, CreditAccess Grameen, EPL, Procter & Gamble Health and Quess Corp are trading with higher delivery volumes compared to Tuesday.
ICICI Securities maintains a ‘Buy’ rating on Steel Authority of India (SAIL) with a target price upside of 23%, citing SAIL's reduction in net debt by Rs 16,200 crore in FY21. The brokerage expects SAIL to reduce debt by another Rs 6,800 crore by FY23.
Indiabulls Housing Finance's board approves a proposal to raise Rs 7,000 crore through the issue of equity shares worth Rs 2,043 crore and the rest through debt securities.
Macrotech Developers (Lodha Group) trades higher after promoters repay debt worth Rs 1,596 crore owed to the company. Promoters paid debt worth Rs 400 crore in April 2021 and Rs 1,196 crore on Wednesday. At the end of FY21, the company's total debt was Rs 17,767 crore.
Edelweiss maintains a ‘Buy’ rating on Finolex Industries with a target price upside of 21%, expecting growth in polyvinyl chloride resin volumes due to a healthy expected monsoon, and the opening of manufacturing units in the US and Europe.
Sterling and Wilson Solar's total income falls by 33% YoY to Rs 1,416 crore, with a net loss of Rs 345 crore, against a net profit of Rs 128 crore in the year ago period.
Bharti Group, the parent company of Bharti Airtel, announces additional investment of $500 million (Rs 3,718.3 crore) in the satellite communications company OneWeb. Bharti Group will become the largest shareholders in the company with a 38.6% stake post this transaction.
Uflex is trading in the green with 23 times its average weekly trading volume. Polyplex Corporation, Bharat Rasayan and MMTC are trading in the green with more than four times their average weekly trading volume.
Swan Energy, Ircon International, Dish TV India are trading higher whereas SpiceJet is trading lower ahead of their Q4 earnings update later today.
Housing and Urban Development Corporation's Q4 net profit rises 19.4% YoY to Rs 526.3 crore despite a 6.4% fall in revenues to Rs 1,777.8 crore due to a Rs 301.9 crore impairment write-back.
Steel makers' stocks (Steel Authority of India, JSW Steel, Tata Steel) are trading higher as the central government extends anti-dumping duties of steel products through imports from China, Japan, and South Korea till December 2021.
Indian Railway Catering & Tourism Corporation's Q4FY21 revenues fall 41% YoY to Rs 340 crore, with net profits down by 23% to Rs 104 crore.
Cipla receives the approval of the Drugs Controller General of India to import Moderna's Covid-19 vaccine for restricted emergency use.
Uflex's Q4 net profit jumps 2.6X YoY to Rs 265 crore, revenues rise by 45% to Rs 2,572 crore as income from flexible packaging activities grows by 44.5%.
Nifty 50 was trading at 15,787.75 (39.3, 0.3%) , BSE Sensex was trading at 52,681.72 (132.1, 0.3%) while the broader Nifty 500 was trading at 13,515.30 (33.4, 0.3%).
Market breadth is highly positive. Of the 1,662 stocks traded today, 1,172 were in the positive territory and 465 were negative.

Riding High:

Largecap and midcap gainers today include Indian Overseas Bank (28.30, 9.69%), Cummins India Ltd. (901.80, 5.98%) and Power Finance Corporation Ltd. (129.90, 4.72%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (1,019.75, -5.01%), Adani Transmission Ltd. (1,062.95, -4.69%) and Kansai Nerolac Paints Ltd. (557.50, -4.59%).

Volume Rockets

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

Top high volume gainers on BSE included Uflex Ltd. (572.50, 19.91%), Gujarat Fluorochemicals Ltd. (1,160.00, 12.17%) and PNC Infratech Ltd. (287.90, 10.67%).

Top high volume losers on BSE were Affle (India) Ltd. (4,337.20, -4.25%), Procter & Gamble Health Ltd. (5,599.00, -3.11%) and Indian Railway Catering & Tourism Corporation Ltd. (2,041.00, -1.96%).

KNR Constructions Ltd. (235.55, 4.16%) was trading at 30.0 times of weekly average. La Opala RG Ltd. (281.00, 6.76%) and Ratnamani Metals & Tubes Ltd. (2,048.20, 0.69%) were trading with volumes 25.1 and 14.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

39 stocks made 52 week highs,

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (3,612.00, 0.58%), Bharat Electronics Ltd. (178.30, 2.09%) and Central Bank of India (28.40, 9.23%).

2 stocks climbed above their 200 day SMA including Whirlpool of India Ltd. (2,236.00, 0.84%) and RBL Bank Ltd. (210.40, -0.68%). 3 stocks slipped below their 200 SMA including Sunteck Realty Ltd. (294.20, -4.06%) and Force Motors Ltd. (1,209.00, -2.20%).