Market closes lower, Sapphire Foods' IPO - retail oversubscribed by 2X

Trendlyne Analysis

Nifty 50 closed at 18,044.25 (-24.3, -0.1%) , BSE Sensex closed at 60,433.45 (-112.2, -0.2%) while the broader Nifty 500 closed at 15,541.95 (21.8, 0.1%)

Market breadth is in the green. Of the 1,815 stocks traded today, 1,054 were gainers and 690 were losers.

Ratnamani Metals & Tubes, Biocon, Ashoka Buildcon, and Tata Teleservices (Maharashtra) are trading with higher delivery volumes compared to Monday.
Axis Securities maintains a ‘Hold’ rating on Polycab India after the company signed a deal with Renuka Investments & Finance, a wholly owned subsidiary of Hindalco Industries. Polycab will divest its entire equity shareholding in Ryker Base at a value of Rs 323 crore and strengthen its balance sheet.
M&M's net profit zooms 214% YoY to Rs 1,929 crore on back of 12% sales growth & one-time impairment charge of Rs 770 crores taken in Q1FY21. Profits have grown 43% YoY excluding the exceptional item
Sapphire Foods India’s Rs 96 lakh IPO receives bids for 35% of the shares on offer, with the retail portion oversubscribed by 2X of the available shares on the first day of bidding.
One97 Communications' (Paytm's) Rs 4,838-crore IPO receives bids for 37% of the shares on offer, with the retail portion oversubscribed by 1.09X of the available shares on the second day of bidding.
V-Mart posts a loss of Rs 14 crore in Q2FY22 as its inventory costs rise by 67% YoY to Rs 361 crore.
ACE India's net profit rises 57% YoY to Rs 23 crore on back of over 30% volume growth posted by cranes and material handling divisions
Elgi Equipments is trading with more than 52 times its weekly average trading volume. Ujjivan Small Finance Bank, KSB, and Britannia Industries are trading at less than six times their weekly average trading volumes.
Cadila gets an order for 1 crore doses of ZyCoV-D vaccine from the Centre. The government will pay the company Rs 265 per dose along with Rs 93 per 'Pharmajet'.
Elgi Equipments’ net profit rises 55% YoY to Rs 52 crore with net sales up by 57% to Rs 417 crore in Q2FY22. The company’s performance is on right track across all markets except Australia and South-east Asia, because of Covid related disruptions.
HDFC Securities maintains a ‘Buy’ rating on Aditya Birla Fashion and Retail with a target price upside of 10.3%. The company’s sales surge 95% YoY in Q2FY22 with revenues nearly doubling YoY to Rs 19,960 crore.
Aurobindo Pharma's net profit declines 2.1% YoY to Rs 697 crore on back of high input costs and fall in revenues from growth markets & AntiRetroVirals.
Sobha Group's net profit triples to Rs. 48.3 crores YoY on back of 50%+ growth in its sales booking volumes (sqft terms).
National Company Law Tribunal stays Future Group’s shareholders’ meeting that would take up the deal for sale of its retails assets worth Rs 24,713 crore with Reliance Industries amidst its ongoing legal battle with Amazon Inc.
One97 Communications' (Paytm's) Rs 4,838-crore IPO receives bids for 20% of the shares on offer, with the retail portion subscribed by up to 90% of the available shares on the second day of bidding.
Britannia’s Q2 net profit falls 30% YoY to Rs 382 crore due to inflation in prices of palm oil, industrial fuel, and packaging materials. The company’s volume growth is up by 5.5% to Rs 3,607 crore in Q2FY22.
Sapphire Foods India (operator of KFC & Pizza Hut) raises Rs 933 crore from anchor investors including JM Financial, BofA Securities, ICICI Securities, and IIFL Securities.
Nifty 50 was trading at 18,052.85 (-15.7, -0.1%) , BSE Sensex was trading at 60,475.87 (-69.7, -0.1%) while the broader Nifty 500 was trading at 15,545.95 (25.8, 0.2%)
Market breadth is in the green. Of the 1,805 stocks traded today, 1,128 were on the uptrend, and 614 went down

Riding High:

Largecap and midcap gainers today include Godrej Industries Ltd. (643.50, 6.82%), RBL Bank Ltd. (217.25, 6.42%) and Tata Motors Limited (DVR) (286.15, 6.34%).

Downers:

Largecap and midcap losers today include GlaxoSmithKline Pharmaceuticals Ltd. (1,609.85, -3.90%), Varun Beverages Ltd. (966.10, -3.87%) and Shriram Transport Finance Company Ltd. (1,616.05, -2.92%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included S H Kelkar & Company Ltd. (183.50, 19.97%), Shoppers Stop Ltd. (395.40, 10.25%) and Esab India Ltd. (2,785.10, 9.83%).

Top high volume losers on BSE were KRBL Ltd. (281.60, -4.59%), Ujjivan Small Finance Bank Ltd. (21.10, -3.43%) and Britannia Industries Ltd. (3621.60, -2.58%).,

TVS Motor Company Ltd. (731.45, 2.70%) was trading at 8.3 times of weekly average. Greaves Cotton Ltd. (140.20, 5.14%) and Birlasoft Ltd. (434.40, 4.36%) were trading with volumes 8.2 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

41 stocks overperformed with 52 week highs,

Stocks touching their year highs included - ACC Ltd. (2,538.30, 0.79%), Ashok Leyland Ltd. (149.85, 2.60%) and Bank of Baroda (106.35, 0.66%).

19 stocks climbed above their 200 day SMA including RBL Bank Ltd. (217.25, 6.42%) and Greaves Cotton Ltd. (140.20, 5.14%). 4 stocks slipped below their 200 SMA including Britannia Industries Ltd. (3,621.60, -2.58%) and Thermax Ltd. (1,337.75, -2.29%).