Trendlyne Marketwatch    
03 Nov 2021, 03:50PM
Markets close lower, SBI's Q2 net profits rise 67% YoY

Trendlyne Analysis 

Nifty 50 closed at 17829.20 (-59.8, -0.3%) , BSE Sensex closed at 59771.92 (-257.1, -0.4%) while the broader Nifty 500 closed at 15282.75 (-31.9, -0.2%)

Market breadth is in the red. Of the 1791 stocks traded today, 763 were in the positive territory and 980 were negative.

  • Sundaram Finance, TTK Prestige, Max Healthcare Institute, and Timken India trading with higher delivery volumes compared to Tuesday

  • Devyani International’s net profit rises to Rs 46.6 crore in Q2FY22. The company’s revenue from operations surge 124% YoY to Rs 516 crore with opening of 111 new stores post second wave of Covid.

  • State Bank of India Q2FY22 net profit rises 67% YoY to Rs 7,626 crore while net interest income is up by 10.6% to Rs 31,184 crore.

  • Avenue Therapeutics terminates acquisition deal with InvaGen Pharmaceuticals (subsidiary of Cipla) as second stage closing of the deal misses timelines.

  • Edelweiss downgrades its rating on Amber Enterprises to 'Hold' from 'Buy' as the company's sales grew by 44% YoY which was lower than the brokerage's estimates of a 60% growth in sales due to a recovery in AC demand in Q2FY22.

  • Mazagon Dock Shipbuilders is trading with more than 16 times its weekly average trading volume. Cochin Shipyard, MOIL, and Trent are trading at more than six times their weekly average trading volumes.

  • Bank of India's Q2FY22 net interest income declines by 14.3% YoY to Rs 3,523.4 crore, with net profits doubling to Rs 1,051 crore due to a 180 basis points drop in gross non-performing assets.

  • Yes Securities gives a 'BUY' rating to Oberoi Realty with a target of Rs. 1,070 on the back of the company's net profit nearly doubling YoY in Q2FY22 and robust pre-sales growth.

  • Info Edge (India) invests Rs 41.2 crore in Metis Eduventures which operates Adda247, an ed-tech platform providing courses for public sector jobs.

  • Minda Corporation acquires the remaining 49% stake in auto-components maker Minda Stoneridge Instruments for Rs 161 crore, making Minda Stoneridge Instruments its wholly owned subsidiary.

  • Investors bid for over twice the available 1.93 crore shares on offer in PB Fintech’s Rs 3,451-crore IPO. The retail quota gets twice the available 60.73 lac shares on offer on the last day of bidding.

  • Dabur India’s net profit rises 4.6% YoY to Rs 505.3 crore with 12% growth in revenues to Rs 2,818 crore in Q2FY22.

  • Rating agency Moody’s upgrades Macrotech Developers’ corporate debt to "B3" from “Caa1” due to the realty company's robust operational performance in Q2FY22 and fundraising plans of upto Rs 4,000 crores.

  • Bharti Airtel’s Q2FY22 net profit jumps 4X QoQ to Rs 1,134 crore, while revenue grows 13% to Rs 28,326 crore with average revenue per user (ARPU) up by 4.7% to Rs 153

  • Markets opened high. Nifty 50 was trading at 17,965.75 (76.8, 0.4%) , BSE Sensex was trading at 60,336.93 (307.9, 0.5%) while the broader Nifty 500 was trading at 15,380.80 (66.2, 0.4%)

  • Market breadth is highly positive. Of the 1,719 stocks traded today, 1,195 were on the uptick, and 448 were down.

Riding High:

Largecap and midcap gainers today include Oberoi Realty Ltd. (1035.50, 6.53%), Relaxo Footwears Ltd. (1409.65, 5.62%) and Trent Ltd. (1092.15, 5.27%).

Downers:

Largecap and midcap losers today include IDBI Bank Ltd. (53.60, -5.88%), NHPC Ltd. (30.40, -3.80%) and Union Bank of India (47.55, -3.55%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Sobha Ltd. (951.50, 9.80%), Garden Reach Shipbuilders & Engineers Ltd. (247.50, 9.56%) and eClerx Services Ltd. (2342.65, 9.12%).

Top high volume losers on BSE were Hathway Cable & Datacom Ltd. (19.80, -6.16%), GE Power India Ltd. (293.25, -2.05%) and Jyothy Labs Ltd. (155.45, -1.65%).

Mazagon Dock Shipbuilders Ltd. (295.70, 6.44%) was trading at 21.1 times of weekly average. MOIL Ltd. (168.30, 4.21%) and Trent Ltd. (1092.15, 5.27%) were trading with volumes 8.6 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks hit their 52 week highs, while 2 stocks hit their 52 week lows.

Stocks touching their year highs included - Allcargo Logistics Ltd. (338.25, 2.91%), Bank of Baroda (100.90, -1.37%) and Canara Bank (225.95, 0.76%).

Stocks making new 52 weeks lows included - Hathway Cable & Datacom Ltd. (19.80, -6.16%) and Aarti Drugs Ltd. (563.25, -1.90%).

11 stocks climbed above their 200 day SMA including MOIL Ltd. (168.30, 4.21%) and Schneider Electric Infrastructure Ltd. (115.20, 3.97%). 12 stocks slipped below their 200 SMA including IFCI Ltd. (11.90, -4.80%) and Sanofi India Ltd. (8021.20, -2.30%).

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