• Valiant Organics, Crompton Greaves Consumer Electricals, Akzo Nobel India, Ujjivan Financial Services, and Gujarat Piparav Port are trading with higher delivery volumes compared to Tuesday.

• Axis Securities maintains a 'Buy' rating on Bharti Airtel with a target price upside of 13% expecting the Rs 21,000 crore rights issue to fuel the growth of the company. The money raised will be invested and channelized in areas such as 5G, fibre, and data centre business.

• Tata Motors is trading higher after its domestic wholesales in August 2021 rise 53% YoY to 54,190 units. Domestic passenger vehicle wholesales are up by 50.8% to 28,018 units and commercial vehicle (CV) wholesales by 55.4% to 26,172 units. CV exports rise 3.4X YoY to 3,609 units.

• Bharat Heavy Electricals (BHEL) trades higher after it receives an order worth Rs 10,800 crore from NPCIL for EPC of Turbine Island for six units of 700 MegaWatt electric each. Four units will be set up at Gorakhpur, Haryana and two units at Kaiga, Karnataka.

• Ashok Leyland's total wholesales in August 2021 rise 48% YoY to 9,360 units. The medium & heavy CV wholesales are up by 78.9% YoY to 4,632 units and light CV wholesales rise 26.6% YoY to 4,728 units during the month.

• Ami Organics' Rs 569.6 crore IPO is subscribed by 68% of the shares on offer, with the retail portion receiving bids for 1.2 times the available quota on day 1 of the bidding process

• VST Tillers Tractors is falling after its total wholesales are down 5.6% YoY to 3,336 units in August 2021. Power tiller wholesales fall 1.4% to 2,602 units and tractor wholesales are down 18.2% to 734 units during the month.

• Vijaya Diagnostic Centre's Rs 1,895-crore IPO is subscribed by 13% of the shares on offer, with the retail portion receiving bids for 25% of the available quota on day 1 of the bidding process

• Maruti Suzuki India trades lower after the company announces that it is expecting its production at its Haryana and contract manufacturer Suzuki Motor Gujarat’s plants by upto 40% in September. This is because of supply constraints of electronic components due to the shortage of semiconductors across the world.

• Oberoi Realty, BEML, Amber Enterprises India, JK Cement, and Shoppers Stop are trading with more than three times their weekly average trading volume.

• Escorts is trading lower as its total wholesales fall 21.7% YoY to 5,693 units in August 2021. Domestic wholesales fall 27.1% to 4,920 units, but exports rise 49.2% to 773 units in the month.

• Shoppers Stop is rising after the company announces that its board of directors approved a 100% stake sale of Crossword Bookstores to the owners of Agarwal Business House, Pune for Rs 41.6 crore.

• Bajaj Auto is rising as its total two-wheeler wholesales rise 5.4% YoY to 3.4 lakh units and total three-wheeler wholesales fall just 0.5% YoY to 34,960 units in August 2021. Exports rise 17.82% YoY to 2 lakh units, while domestic wholesales fall 7.2% YoY to 1.7 lakh units in the month.

• Ami Organics raises Rs 170.9 crore from 20 anchor investors at Rs 531 per share. The investors include Kuber India Fund, UTI Healthcare Fund, Sundaram Mutual Fund, Elara India Opportunities Fund, SBI Life Insurance, and Aditya Birla Sun Life Insurance.

• Rashi Fincorp buys 1.5 lakh shares (0.58% stake) of Seamec for Rs 11.1 crore in a bulk deal on Tuesday.

• Vijaya Diagnostic Centre raises Rs 566.1 crore from 41 anchor investors at Rs 531 per share. The investors include Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Investment Trust, SBI Life Insurance, Aditya Birla Mutual Fund (MF), and Axis MF.

• Nifty 50 was trading at 17,189.10 (56.9, 0.3%) , BSE Sensex was trading at 57,733.03 (180.6, 0.3%) while the broader Nifty 500 was trading at 14,618.80 (62.9, 0.4%)

• Market breadth is surging up. Of the 1,678 stocks traded today, 1,145 were in the positive territory and 462 were negative.

Riding High:

Largecap and midcap gainers today include Oberoi Realty Ltd. (778.55, 10.65%), Havells India Ltd. (1,344.75, 6.02%) and Exide Industries Ltd. (170.05, 5.52%).

Downers:

Largecap and midcap losers today include Bank of India (63.55, -4.22%), Nippon Life India Asset Management Ltd. (406.70, -4.10%) and JSW Energy Ltd. (255.30, -3.53%).

Volume Rockets

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

Top high volume gainers on BSE included Indian Energy Exchange Ltd. (560.30, 10.98%), Oberoi Realty Ltd. (778.55, 10.65%) and Sobha Ltd. (685.70, 10.06%).

Top high volume losers on BSE were eClerx Services Ltd. (2,199.15, -2.86%) and Shoppers Stop Ltd. (239.40, -0.54%).

NHPC Ltd. (27.20, 0.93%) was trading at 15.3 times of weekly average. Brigade Enterprises Ltd. (359.75, 7.56%) and Nesco Ltd. (610.05, 6.54%) were trading with volumes 12.2 and 8.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

58 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (20,028.80, 3.93%), Adani Transmission Ltd. (1,659.60, 5.00%) and Apollo Hospitals Enterprise Ltd. (5,039.05, 1.40%).

16 stocks climbed above their 200 day SMA including India Cements Ltd. (175.90, 7.52%) and Karnataka Bank Ltd. (64.35, 4.29%). 5 stocks slipped below their 200 SMA including Bank of India (63.55, -4.22%) and Mahindra & Mahindra Ltd. (769.90, -2.95%).