Markets close higher, Sobha's Q1FY22 sales rise 40% YoY

Nifty 50 closed at 15,878.65 (60.4, 0.4%) , BSE Sensex closed at 53,054.76 (193.6, 0.4%) while the broader Nifty 500 closed at 13,633.50 (59.4, 0.4%)

Market breadth is in the green. Of the 1,758 stocks traded today, 954 were on the uptrend, and 776 went down.

Tube Investments of India, Cholamandalam Financial Holdings, Shriram City Union Finance, Whirlpool of India, and Dhani Services are trading with higher delivery volumes compared to Tuesday.
ITC is the only FMCG company that receives a "Buy" rating by HDFC Securities in its report on the FMCG sector. The brokerage maintains an "Add" rating on Dabur, Godrej Consumer Products, Marico, and Colgate-Palmolive.
Jindal Steel & Power's Q1FY22 steel production rises 20.4% YoY to 2.01 million tons (MT), sales volume rises 3.2% YoY to 1.61 MT.
G R Infraprojects' Rs 963.3 crore IPO is subscribed by 85% with the retail portion receiving bids for 1.7 times the available quota on day 1 of the bidding process.
Axis Direct maintains a "Buy" rating on HDFC Bank with a 20% target price upside citing a steady 14.4% growth YoY in the private bank's loans in Q1FY22.
Clean Science and Technology's Rs 1,546.6 crore IPO is subscribed by 70% with the retail portion receiving bids for 1.3 times the available quota on day 1 of the bidding process.
Sobha trades higher after their Q1FY22 sales rise 40% YoY to Rs 682.9 crore. The average price realization per square feet grew by 1.7% to Rs 7,626.
Tamarind Capital sells nearly 70 lakh shares (1.22% stake) in Dhani Services for Rs 121.6 crore in a bulk deal on Tuesday. They now hold a 14.2% stake in the company.
RBL Bank is rising as its Q1FY22 deposits rise by 20.6% to Rs 74,480 crore, and loans rise 1.7% YoY to Rs 58,755 crore. The private bank's current and savings account (CASA) ratio for Q1FY22 was 33.7% compared to 30.1% in Q1FY21.
Sobha, Equitas Holdings, Angel Broking, Rain Industries, and Timken India are trading with more than four times their average weekly trading volume.
Bharat Forge hits a new 52-week high after reports suggest that Goldman Sachs initiates coverage on the company giving it a 'Buy' rating with a target price upside of 11%, expecting the company to leverage its defense localization and benefitting from the global industrial recovery.
G R Infraprojects raises Rs 283.3 crore at Rs 837 per share from anchor investors - Smallcap World Fund, Abu Dhabi Investment Authority, BlackRock Global Funds, etc. The IPO is an offer for sale worth up to Rs 963.3 crore.
Tata Steel will invest Rs 50,000-60,000 crore over the next five years to expand capacity at its Kalinganagar plant by 8 million tonnes (MT), set up iron ore capacity of 50 MT, and increase cold rolled steel capacity by 50% to 6.5 MT.
Clean Science and Technology raises Rs 464 crore from 41 anchor investors at Rs 900 per share. The investors include Government of Singapore, Nomura, BlackRock Global Funds, Goldman Sachs, Axis Mutual Fund (MF), HDFC Trustee, and SBI MF.
Nifty 50 was trading at 15,839.05 (20.8, 0.1%) , BSE Sensex was trading at 52,967.83 (106.7, 0.2%) while the broader Nifty 500 was trading at 13,590.20 (16.1, 0.1%)
Market breadth is in the green. Of the 1,677 stocks traded today, 1,018 were gainers and 630 were losers.

Riding High:

Largecap and midcap gainers today include Bharat Forge Ltd. (810.00, 5.56%), Bharat Heavy Electricals Ltd. (67.85, 5.28%) and Tata Steel Ltd. (1,224.00, 4.86%).

Downers:

Largecap and midcap losers today include Natco Pharma Ltd. (1,083.00, -6.80%), Gujarat State Petronet Ltd. (313.75, -2.64%) and Titan Company Ltd. (1,726.00, -2.09%).

Volume Rockets

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

Top high volume gainers on BSE included Equitas Holdings Ltd. (112.80, 20.00%), Equitas Small Finance Bank Ltd. (68.55, 16.98%) and Edelweiss Financial Services Ltd. (81.25, 9.80%).

Top high volume losers on BSE were EIH Ltd. (115.80, -1.70%), Adani Total Gas Ltd. (909.00, -1.00%) and AIA Engineering Ltd. (2,147.80, -0.84%).

Ujjivan Small Finance Bank Ltd. (32.10, 6.47%) was trading at 14.4 times of weekly average. Sobha Ltd. (519.65, 5.86%) and Esab India Ltd. (1,883.75, 1.40%) were trading with volumes 12.2 and 11.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

32 stocks hit their 52 week highs,

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,170.15, 0.21%), Astral Ltd. (2,051.00, -0.87%) and Berger Paints (India) Ltd. (847.05, 4.05%).

3 stocks climbed above their 200 day SMA including Sunteck Realty Ltd. (307.20, 1.50%) and Ipca Laboratories Ltd. (2,125.00, 1.22%). 4 stocks slipped below their 200 SMA including Varroc Engineering Ltd. (368.75, -2.10%) and Strides Pharma Science Ltd. (787.35, -0.32%).