Trendlyne Marketwatch    
27 Oct 2021
Market closes lower, RIL makes an open offer for 26% stake in Sterling & Wilson Solar

Trendlyne Analysis

Nifty 50 closed at 18,210.95 (-57.5, -0.3%) , BSE Sensex closed at 61,143.33 (-206.9, -0.3%) while the broader Nifty 500 closed at 15,484.35 (-15.3, -0.1%)

Market breadth is horizontal. Of the 1,806 stocks traded today, 896 were in the positive territory and 854 were negative.

  • Thermax, Natco Pharma, TeamLease Services, and CreditAccess Grameen are trading with higher delivery volumes compared to Tuesday.

  • Maruti Suzuki India's revenues rise by 10% YoY to Rs 20,539 crore, with a 65% decline in net profits to Rs 475 crore due to production cuts caused by the shortage of semiconductors.

  • Cera Sanitaryware reports a 60% YoY rise in net profits to Rs 42 crore in Q2FY22 with a 25% growth in net sales to Rs 393 crore.

  • Persistent Systems’ reports 7% QoQ rise in net profits to Rs 162 crore in Q2FY22 with increase in revenue from operations by 9.3% QoQ. The company’s order bookings for Q2 is at US$283 mn.

  • Reliance New Energy Solar, a Reliance Industries arm, makes an open offer for 26% stake in Sterling and Wilson Solar worth Rs 1,840 crore. This comes after the RIL arm bought a 100% stake in the company REC Solar Holdings on October 10.

  • Axis Securities maintains a ‘Buy’ rating on Tech Mahindra with a 12% target price upside as the brokerage expects healthy progress in communication and enterprise space contributing to revenue growth in upcoming quarters.

  • Ambuja Cements' revenue falls by 5% YoY to Rs 6,647 crore despite a a 9% growth in production volume for the September quarter, with net profits up by 11% to Rs 890.6 crore.

  • Asahi India Glass is trading with more than 30 times its weekly average trading volume. Triveni Turbine, Tanla Platforms, and Sequient Scientific are trading at more than four times their weekly average trading volume.

  • Nippon Life India Asset Management's net profit grows by 47% YoY to Rs 213.7 crore with 31.8% growth in total income to Rs 452 crore.

  • Dr Lal Pathlabs acquires Suburban Diagnostic, a healthcare services company for Rs 925 crore to expand its business in western India

  • Axis Bank's Q2FY22 net interest income rises by 8% YoY to Rs 7,901 crore, with its highest ever net profits of Rs 3,133 crore, an 86% growth.

  • HDFC Securities upgrades its rating on The Ramco Cements to 'Buy' from 'Add' with an 16% target price upside due to a 26% growth in sales volume in Q2 depsite Covid-related disruptions in its two major markets of Kerala and Tamil Nadu.

  • Asian Paints & Berger Paints' stocks are rising as they announce price hikes across their product portfolios to make up for rising input costs. Both companies will hike prices by 7-10% from November 12.

  • Cipla’s Q2FY22 net profit rises 7.5% YoY to Rs 712 crore , rapid growth in domestic and US formulation space contributes to 10% rise in revenues to Rs 5,520 crore.

  • Bajaj Finance’s net profit jumps 53% YoY to Rs 1,481 crore in Q2FY22 with the company registering an increase in amount of booked new loans to 75% valued at 63 lakh. Loss in loans and provisions reduced by 31% YoY.

  • Nifty 50 was trading at 18,287.70 (19.3, 0.1%) , BSE Sensex was trading at 61,372.55 (22.3, 0.0%) while the broader Nifty 500 was trading at 15,538.65 (39, 0.3%)

  • Market breadth is highly positive. Of the 1,725 stocks traded today, 1,215 were on the uptick, and 452 were down.

Riding High:

Largecap and midcap gainers today include Union Bank of India (50.55, 4.77%), Godrej Consumer Products Ltd. (1,009.90, 4.76%) and Asian Paints Ltd. (3,094.65, 4.20%).

Downers:

Largecap and midcap losers today include Axis Bank Ltd. (787.50, -6.46%), Bajaj Finance Ltd. (7,482.15, -4.75%) and Vedanta Ltd. (315.35, -4.60%).

Volume Rockets

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

Top high volume gainers on BSE included TTK Prestige Ltd. (11132.65, 15.39%), Sequent Scientific Ltd. (203.20, 12.45%) and Vardhman Textiles Ltd. (1,991.85, 9.94%).

Top high volume losers on BSE were Gulf Oil Lubricants India Ltd. (586.00, -1.29%) and KPR Mill Ltd. (465.15, -0.20%).

Triveni Turbine Ltd. (169.75, 0.00%) was trading at 18.4 times of weekly average. Lakshmi Machine Works Ltd. (9,151.20, 6.02%) and Tanla Platforms Ltd. (1,223.75, 4.40%) were trading with volumes 9.3 and 7.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks made 52 week highs,

Stocks touching their year highs included - Bank of Baroda (102.60, 2.70%), Blue Dart Express Ltd. (6,639.70, 6.47%) and Escorts Ltd. (1,543.30, -0.07%).

14 stocks climbed above their 200 day SMA including Greaves Cotton Ltd. (137.40, 4.61%) and ITI Ltd. (122.50, 2.68%). 2 stocks slipped below their 200 SMA including Hindustan Unilever Ltd. (2,396.60, -1.65%) and RBL Bank Ltd. (208.25, -1.23%).

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