Markets end lower: Tarson Products' IPO gets subscribed 2.07X on Day 2

Trendlyne Analysis

CreditAccess Grameen, Sharda Corpchem, JB chemicals & Pharmaceuticals and EPL are trading with higher delivery volumes compared to Monday
Tarson Products' Rs 1,024-crore IPO gets bids for over 1.82 times its available 1.08 crore shares on offer. Retail investors bid for over 3.52X their quota of 54 lakh shares on the 2nd day of bidding. The offer comprises of a fresh issue of Rs 150 crore and an offer for sale of Rs 874 crore by selling shareholders.
PI Industries' Q2FY22 net profit rises 5.5% YoY to Rs 230 crore due to an over 15% growth in sales. This growth was driven by robust volume growth in the agro-chemical company's exports segment which reported Rs 993 crore sales for Q2FY22
IDBI Capital maintains a 'BUY' rating on Tata Steel as it believes that steel prices are likely to stay firm on the back of China's curbs on its steel production. The brokerage expects a target price upside of 42%
Auto stocks are trading higher with stocks like Maruti Suzuki, Motherson Sumi systems and Tata Motors rising. The broader sectoral index the Nifty Auto is up 1.25% intraday. Tata Motors is trading near its 52-week high and the others are trading close to their one-month high.
New World Fund picks buys 34.18 lakh shares of PB Fintech on Monday through a bulk deal at Rs 1,192.96. This makes up to about 0.76% of the total outstanding shares of the company
Ruchi Soya surges in trade owing to a nearly 30% YoY rise in its Q2 net profit to Rs 164 crore. The rise in profits is driven by an over 70% growth in its branded business sales to Rs 4,512 crore
Macrotech Developers (Lodha) to completes Rs 4,000 crore via a QIP to fund growth opportunities and raise its public shareholding level. This move will bring down the promoter's holding in the company to 82.5%.
PNC Infratech's Q2 net profit jumps 95% YoY to Rs 135 crore on the back of over 50% rise in the construction company's revenues to Rs 1,615 crore driven by the road EPC segment
CAMS' Q2FY22 net profit rises 48% YoY to Rs 72.6 crore on the back of a double-digit growth in transaction volumes. Record high mutual fund new fund offer collections to the tune of Rs 30,000 crore by many mutual fund clients also helped boost the company's revenues, which rose by 33% to Rs 228 crore
Market sinks in today's trading. Nifty 50 closed at 17999.20 (-110.3, -0.6%) , BSE Sensex closed at 60322.37 (-396.3, -0.7%) while the broader Nifty 500 closed at 15525.40 (-67.2, -0.4%)
Market breadth is in the red. Of the 1814 stocks traded today, 789 showed gains, and 968 showed losses.

Riding High:

Largecap and midcap gainers today include Thermax Ltd. (1793.75, 10.17%), Maruti Suzuki India Ltd. (8050.35, 7.29%) and NHPC Ltd. (33.90, 6.60%).

Downers:

Largecap and midcap losers today include Endurance Technologies Ltd. (1701.95, -5.48%), Hindustan Petroleum Corporation Ltd. (337.50, -3.94%) and Union Bank of India (46.85, -3.90%).

Volume Rockets

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

Top high volume gainers on BSE included Greaves Cotton Ltd. (147.60, 10.73%), Spicejet Ltd. (78.15, 9.68%) and TCNS Clothing Co. Ltd. (861.25, 7.63%).

Top high volume losers on BSE were Phoenix Mills Ltd. (1072.85, -4.31%) and Ratnamani Metals & Tubes Ltd. (2168.65, -2.83%).

Sterlite Technologies Ltd. (304.35, 6.60%) was trading at 11.7 times of weekly average. Mahindra CIE Automotive Ltd. (298.45, 5.46%) and Tanla Platforms Ltd. (1325.95, 5.00%) were trading with volumes 10.5 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks hit their 52 week highs, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (5096.85, 0.31%), Ashok Leyland Ltd. (147.10, -3.29%) and Bata India Ltd. (2201.35, -1.27%).

Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (201.65, -0.84%) and Bayer Cropscience Ltd. (4635.50, -0.51%).

12 stocks climbed above their 200 day SMA including Greaves Cotton Ltd. (147.60, 10.73%) and Spicejet Ltd. (78.15, 9.68%). 13 stocks slipped below their 200 SMA including Ipca Laboratories Ltd. (2153.35, -2.12%) and City Union Bank Ltd. (159.10, -1.73%).