Trendlyne Marketwatch    
14 Oct 2021
Market closes higher, Ashish Dhawan sells his entire 1.4% stake in Max Healthcare Institute
Trendlyne Analysis 

Markets closed up today. Nifty 50 closed at 18,338.55 (176.8, 1.0%) , BSE Sensex closed at 61,305.95 (568.9, 0.9%) while the broader Nifty 500 closed at 15,769.25 (137.9, 0.9%)

Market breadth is in the red. Of the 1,807 stocks traded today, 810 were on the uptrend, and 952 went down.

  • AIA Engineering, CreditAccess Grameen, Thermax, and eClerx Services are trading with higher delivery volumes compared to Wednesday.

  • ICICI securities maintains a ‘Buy” rating on Tata Motors with a 23% target price upside. The brokerage expects a rapid growth in the company's EV business as the company plans to invest the funds raised from TPG to produce 10 new EVs over the next four years.

  • Westlife Development is rising as the company plans to invest Rs 800 -1,000 crore to open around 200 outlets in the next three years.

  • Ashish Dhawan sells his entire 1.4% stake in Max Healthcare Institute constituting 1.3 crore shares.

  • Sunil Singhania's Abakkus Fund buys 1.2 lakh shares of Dynamatic Technologies in Q2FY22. The fund now holds a 2% stake in the engineering company.

  • GM Breweries’ total income grows by 59.7% YoY to Rs 116 crore, net profit rises by 94.9% to Rs 21.8 crore.

  • Motilal Oswal maintains a ‘Buy’ rating on Sun Pharmaceutical Industries with a target price at an upside of 18%. The brokerage is positive on the company due to its strong pipeline of new drug applications (NDAs) and abbreviated new drug applications (ANDAs) in the US market for H2FY22.

  • Goldman Sachs Singapore buys 11.1 lakh shares of Vijaya Diagnostic Centre in Q2FY22. It now holds a 1.1% stake in the diagnostic chain.

  • Lakshmi Machine Works is trading with more than ten times its weekly average trading volume. Hindustan Zinc, India Cements, and Wipro are trading with more than four times their weekly average trading volume.

  • Wipro's Q2FY22 net profit rises 18.9% YoY to Rs 2,930.7 crore, revenue grows by 30.1% to Rs 19,760.7 crore

  • PTC India's chairman and managing director Deepak Amitabh resigns from the company citing personal reasons. He will leave the company on November 5.

  • MindTree's Q2FY22 net profit rises 57.2% YoY to Rs 398.9 crore, revenue is up by 34.3% YoY to Rs 2,586.2 crore

  • India's largest cement maker UltraTech Cement increases the capacity of two of its plants by a total of 1.2 million tonnes per annum. The company says these plants cater to the demand from the eastern states.

  • Infosys' Q2FY22 consolidated revenue rises by 20.5% YoY to Rs 29,602 crore, with net profits up by 12% to Rs 5,421 crore.

  • Markets rise on early trading, Nifty 50 was trading at 18270.05 (108.3, 0.6%) , BSE Sensex was trading at 61060.28 (323.2, 0.5%) while the broader Nifty 500 was trading at 15739.20 (107.8, 0.7%)

  • Market breadth is overwhelmingly positive. Of the 1741 stocks traded today, 1184 were on the uptrend, and 487 went down.

Riding High:

Largecap and midcap gainers today include Indian Railway Catering & Tourism Corporation Ltd. (5463.55, 10.85%), MindTree Ltd. (4691.20, 7.50%) and Adani Ports & Special Economic Zone Ltd. (812.80, 7.09%).

Downers:

Largecap and midcap losers today include Coal India Ltd. (183.80, -3.29%), Whirlpool of India Ltd. (2445.65, -2.87%) and Motherson Sumi Systems Ltd. (246.55, -2.82%).

Volume Shockers

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

Top high volume gainers on BSE included NLC India Ltd. (77.80, 9.50%), BEML Ltd. (1660.00, 8.96%) and Lakshmi Machine Works Ltd. (9032.80, 8.79%).

Top high volume losers on BSE were Star Cement Ltd. (103.90, -1.52%) and EPL Ltd. (231.95, -0.75%).

ITI Ltd. (127.50, 2.41%) was trading at 10.3 times of weekly average. India Cements Ltd. (214.40, 7.82%) and Hindustan Zinc Ltd. (346.70, 4.16%) were trading with volumes 9.7 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

65 stocks hit their 52 week highs,

Stocks touching their year highs included - Bata India Ltd. (2113.50, 2.40%), BEML Ltd. (1660.00, 8.96%) and Canara Bank (193.55, 3.72%).

8 stocks climbed above their 200 day SMA including ITI Ltd. (127.50, 2.41%) and L&T Finance Holdings Ltd. (94.35, 2.11%). 7 stocks slipped below their 200 SMA including Star Cement Ltd. (103.90, -1.52%) and Bandhan Bank Ltd. (323.40, -1.45%).

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