Market closes higher, Paytm oversubscribed by 1.3X of total shares on offer

Trendlyne Analysis

Nifty 50 closed at 18,017.20 (-27.1, -0.2%) , BSE Sensex closed at 60,352.82 (-80.6, -0.1%) while the broader Nifty 500 closed at 1,5521.10 (-20.9, -0.1%)

Market breadth is even. Of the 1,802 stocks traded today, 848 showed gains, and 907 showed losses.

Max Healthcare Institute, AIA Engineering, Narayana Hrudayalaya, and Equitas Small Finance Bank are trading with higher delivery volumes compared to Tuesday.
Private Equity group Blackstone exits its investment in flavors and fragrances' company SH Kelkar by selling 10% stake to Swiss firm Firmenich inturn making 4.5X return on investment. SH Kelkar has surged 34% in last 5 days owing to this deal.
Investors bid for over thrice the available 1.75 crore shares on offer in Latent View Analytics’ Rs 600 crore IPO. The retail quota gets bids for 16 times the available 17.53 lakh shares quota on the first day of bidding
BHEL’s Q2 net loss narrowed by 88% YoY to Rs 67 crore. Company’s revenue loss stands at Rs 1500 crore because of pandemic-led disruptions.
IDBI Capital maintains a ‘Buy’ rating on Muthoot Finance with a target price upside of 20%. Muthoot’s net interest margin is up by 53 bps QoQ to 13.46% as gold finance portfolio improves by 15% and cost of funds decline by 3.3% QoQ.
Sapphire Foods India’s Rs 96 lakh IPO receives bids for 81% of the shares on offer, with the retail portion oversubscribed by 4.2X of the available shares on the second day of bidding.
On the last day, investors bid for over 1.33X the available 4.83 crore shares on offer in Paytm's (One97 Communications') Rs 18,300-crore IPO. The retail quota gets bids for 1.5X the available 87.98 lakh shares on offer.
Mahindra & Mahindra plans to launch 16 electric vehicle models across SUV and light commercial vehicles, by 2027. Its investing options are open to either getting in private equity investors or carving the EV business into a separate entity.
Redington (India) is trading with more than 14 times its weekly average trading volume. HEG, CreditAccess Grameen, and Intellect Design Area are trading at more than six times their weekly average trading volumes.
MRF Tyres' profit falls 54% YoY to Rs. 189 crore owing to a sharp increase in input costs particularly crude oil derivatives despite posting a 15% YoY topline growth.
FSN E-Commerce Ventures’ (Nykaa) shares lists at Rs 2,018 per share, a 79% premium to its issue price. The company's Rs 5,352-crore IPO consisted of an offer for sale consisting of Rs 4,722 crore and a fresh issue of Rs 630 crore. The issue got bids worth 82X times the shares on offer.
IGL's standalone net profit rises 30% YoY to Rs 400 crore on back of 32% jump in the average daily sales volume (in mmscmd terms) and 40% rise in the total revenues.
Max Financial Services’ Q2FY22 net profit falls 41% YoY to Rs 40 crore as individual sum assured for new business declines 20% YoY to Rs 88,187 crore. The company’s new business margin is up by 29% YoY.
AstraZeneca Pharma’s Q2FY22 net profit falls 55% YoY to Rs 12 crore as revenue from operations declines by 6% YoY to Rs 198 crore.
Market sinks in morning trading. Nifty 50 was trading at 17,944.25 (-100, -0.6%) , BSE Sensex was trading at 60,104.83 (-328.6, -0.5%) while the broader Nifty 500 was trading at 15,493.30 (-48.7, -0.3%)
Market breadth is in the green. Of the 1,738 stocks traded today, 1,052 were on the uptrend, and 613 went down.

Riding High:

Largecap and midcap gainers today include Avenue Supermarts Ltd. (4,978.00, 4.64%), Aurobindo Pharma Ltd. (699.85, 3.38%) and UPL Ltd. (771.30, 3.34%).

Downers:

Largecap and midcap losers today include Bharat Heavy Electricals Ltd. (66.25, -8.11%), Bank of Baroda (100.70, -5.31%) and Steel Authority of India (SAIL) Ltd. (117.90, -4.42%).

Volume Rockets

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

Top high volume gainers on BSE included HEG Ltd. (2,252.25, 9.89%), KPIT Technologies Ltd. (401.90, 7.62%) and Redington (India) Ltd. (155.75, 7.56%).

Top high volume losers on BSE were Strides Pharma Science Ltd. (498.95, -9.45%), Firstsource Solutions Ltd. (180.05, -9.41%) and Bharat Heavy Electricals Ltd. (66.25, -8.11%).

CreditAccess Grameen Ltd. (597.20, -3.62%) was trading at 12.7 times of weekly average. India Tourism Development Corporation Ltd. (386.60, 2.18%) and Intellect Design Arena Ltd. (749.40, 7.24%) were trading with volumes 11.5 and 7.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

31 stocks took off, crossing 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - ACC Ltd. (2,554.00, 0.62%), Allcargo Logistics Ltd. (369.05, -1.47%) and Bank of Baroda (100.70, -5.31%).

Stocks making new 52 weeks lows included - Strides Pharma Science Ltd. (498.95, -9.45%) and Aarti Drugs Ltd. (561.70, -0.04%).

10 stocks climbed above their 200 day SMA including Phillips Carbon Black Ltd. (237.40, 4.03%) and Britannia Industries Ltd. (3,698.50, 2.12%). 11 stocks slipped below their 200 SMA including Bank of Maharashtra (21.25, -2.52%) and Hindustan Copper Ltd. (130.05, -2.29%).