Market closes higher, Kotak Mahindra's Q2FY22 net profit falls 7% YoY

Trendlyne Analysis

Markets closed up today. Nifty 50 closed at 18,268.40 (143, 0.8%) , BSE Sensex closed at 61,350.26 (383.2, 0.6%) while the broader Nifty 500 closed at 15,499.65 (165.3, 1.1%)

Market breadth is highly positive. Of the 1,803 stocks traded today, 1,332 were on the uptrend, and 420 went down.

Tanla Platforms, Suven Pharmaceuticals, TeamLease Services, and Capri Global Capital are trading with higher delivery volumes compared to Monday.
Kotak Mahindra Bank’s net profit falls 7% YoY to Rs 2,032 crore due to higher provisions. However, the private bank's net interest income rises by 3% to Rs 4,021 crore.
Axis Securities maintains a 'Buy' rating on Can Fin Homes with a 22% target price upside as the housing finance company's gross NPA is less than 1% of total assets and loans in tier-1 cities account for 23% of its Q2FY22 loan book.
CSB Bank’s net profit rises 72% YoY to Rs 118.6 crore in Q2FY22 after provisions of write-back & improvement in asset quality with gross NPA ratio falling 80 bps QoQ to 4.1%.
PVR expects cinemas' exclusive window for movie releases to return to the pre-Covid levels of eight weeks only in Q1FY23. As of Q3FY22, cinemas have an exclusive window of four weeks for movies.
Colgate-Palmolive’s net profit falls 2% QoQ to Rs 269 crore in Q2FY22 as advertising and promotional spends rise by 12.7%. The company reports a good recovery on volume growth to 4% in Q2.
Tech Mahindra acquires US-based Loadstone, a digital product engineering company and London based We Make Website, an e-commerce agency for 789 crore and Rs 97 crore respectively to strengthen its digital portfolio and e-commerce platform.
HDFC Asset Management Company's Q2FY22 net profit rises 1.8% YoY to Rs 344.4 crore, revenues grow by 18.8% to Rs 542.3 crore.
Home First Finance Company India is trading with more than six times its weekly average trading volume. TCI Express, KEI Industries, and Ceat are trading at more than two times their weekly average trading volume.
Axis Securities maintains a ‘Buy’ rating on Federal Bank with a 21% target price upside anticipating strong growth in NIMs, specifically, gold loans, business & commercial banking, and credit cards segment in the coming quarters.
Max Financial Services' promoters pledge 3.7 lakh shares (0.1% stake) worth Rs 36 crore in an insider trade on Friday.
Ceat's Q2FY22 revenue increases by 24% YoY to Rs 2,451.8 crore, with net profits down by 77% to Rs 42 crore. The tyre maker's board approves a plan to raise Rs 500 crore through debt.
Tech Mahindra’s Q2FY22 net profit declines by 1% QoQ to Rs 1338.7 crore with 19.1% growth in banking, financial services & insurance contributing to the rise in revenue by 6.7% to Rs 10,881 crore.
Kirloskar Industries’ Chief Financial officer Umesh Shastry resigns. He will step down at the end of January 2022.
Markets rise on early trading, Nifty 50 was trading at 18,245.30 (119.9, 0.7%) , BSE Sensex was trading at 61,315.30 (348.3, 0.6%) while the broader Nifty 500 was trading at 15,467.65 (133.3, 0.9%)
Market breadth is highly positive. Of the 1,720 stocks traded today, 1,377 were in the positive territory and 291 were negative.

Riding High:

Largecap and midcap gainers today include Tata Motors Limited (DVR) (266.95, 9.95%), The Ramco Cements Ltd. (1014.85, 7.65%) and IDFC First Bank Ltd. (52.85, 7.09%).

Downers:

Largecap and midcap losers today include Torrent Pharmaceuticals Ltd. (2944.25, -4.53%), Gland Pharma Ltd. (3560.30, -4.46%) and Canara Bank (193.35, -4.26%).

Volume Rockets

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

Top high volume gainers on BSE included KEI Industries Ltd. (965.35, 19.14%), Jindal Stainless Ltd. (192.35, 15.25%) and TCI Express Ltd. (1835.75, 11.76%).

Top high volume loser on BSE was Natco Pharma Ltd. (842.35, -0.92%).

Minda Corporation Ltd. (139.15, 8.67%) was trading at 5.6 times of weekly average. Procter & Gamble Health Ltd. (5599.50, 3.94%) and Ceat Ltd. (1295.50, 0.14%) were trading with volumes 5.2 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks hit their 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Bank of Baroda (99.90, 3.52%), Canara Bank (193.35, -4.26%) and Indian Bank (186.10, -0.85%).

Stock making new 52 weeks lows included - Indostar Capital Finance Ltd. (270.05, 0.13%).

12 stocks climbed above their 200 day SMA including The Ramco Cements Ltd. (1014.85, 7.65%) and Tata Metaliks Ltd. (1013.80, 3.70%). 10 stocks slipped below their 200 SMA including Sanofi India Ltd. (8069.30, -2.44%) and Bandhan Bank Ltd. (305.40, -1.74%).