Trendlyne Analysis

Markets closed on a low note. Nifty 50  closed at 17,898.65 (-100.6, -0.6%) , BSE Sensex closed at 60,008.33 (-314.0, -0.5%) while the broader Nifty 500 closed at 15,454.95 (-70.5, -0.5%)

Market breadth is in the red. Of the 1,811 stocks traded today, 678 were gainers and 1,090 were losers.

• Sharda Corpchem, Sundaram Finance, KPIT Technologies, and Gujarat Fluorochemicals are trading with higher delivery volumes as compared to Tuesday.

• IDBI Capital maintains a ‘Buy’ rating on Ashoka Buildcon with a target price upside of 31% as it expects revenue growth to pick up in Q3FY22 post interruption due to heavy monsoons in Q2FY22. The order book for Ashoka Buildcon stands at Rs 1,870 crores in Q2FY22.

• Tarson Products' Rs 1,024-crore IPO gets bids for over 3.58 times its available 1.08 crore shares on offer. Retail investors bid for over 8.22X of their quota of 54 lakh shares on the final 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.

• Go Fashion India (owner of Go Colors) Rs 1,014-crore IPO gets bids for over 1.5X times the available 80.8 lakh shares on offer. Investors bid for over 8X the available 14.68 lakh shares on offer on the first day of bidding. Go Fashion India raises Rs 456 crore from anchor investors.

• Cholamandalam Financial Holdings is trading with less than eight times its weekly average trading volume. RHI Magnesita India, TCNS Clothing Co., and Lux Industries, are trading at more than five times their weekly average trading volumes.

• Premji Invest's Pioneer Investment Fund buys 13.50 lakh shares of Tanla Platforms on Tuesday through a bulk deal at Rs 1,200. This makes up to about 0.99% of the total outstanding shares of the CPaaS based company.

• Tinplate Company's Q2 net profit jumps 366% YoY to Rs 74.9 crore due to over 80% rise in topline which is Rs 987 crore and nearly 500 basis points improvement in the operating margins to 11%.

• Motilal Oswal maintains a 'BUY' rating on KNR Constructions on back of over 25% YoY growth in Q2 revenues and a strong order pipeline of Rs 11,594 crore with order book/revenue ratio at 3.7x. The brokerage expects a target price upside of 28%

• Go Fashion India (owner of Go Colors brand) raises Rs 456 crore from anchor investors including the Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Fidelity, SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Axis MF, Aditya Birla Sun Life MF, and SBI Life Insurance Company.

• Sunil Singhania's Abakkus Asset Manager LLP purchases 8 lakh shares of TV Today Network in a bulk deal on Tuesday. The fund’s stake in the company rises to 1.34%.

• Nifty 50 was trading at 17,963.40 (-35.8, -0.2%) , BSE Sensex was trading at 60,200.35 (-122.0, -0.2%) while the broader Nifty 500 was trading at 15,516.75 (-8.7, -0.1%)

• Market breadth is in the green. Of the 1,733 stocks traded today, 1,033 were on the uptrend, and 624 went down.

Riding High:

Largecap and midcap gainers today include Apollo Hospitals Enterprise Ltd. (5733.95, 12.50%), Rajesh Exports Ltd. (741.25, 7.92%) and L&T Technology Services Ltd. (5675.50, 5.75%).

Downers:

Largecap and midcap losers today include Godrej Properties Ltd. (2,222.20, -4.30%), Petronet LNG Ltd. (228.05, -3.78%) and JSW Energy Ltd. (310.80, -3.60%).

Volume Shockers

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

Top high volume gainers on BSE included Apollo Hospitals Enterprise Ltd. (5,733.95, 12.50%), Welspun Corp Ltd. (159.40, 10.04%) and Birlasoft Ltd. (475.05, 8.32%).

Top high volume losers on BSE were Spandana Sphoorty Financial Ltd. (481.85, -4.01%), Emami Ltd. (526.90, -1.67%) and Linde India Ltd. (2460.35, -1.35%).

Cholamandalam Financial Holdings Ltd. (701.70, 0.07%) was trading at 8.6 times of weekly average. RHI Magnesita India Ltd. (350.35, 3.12%) and Lux Industries Ltd. (4,546.10, 7.66%) were trading with volumes 7.7 and 6.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (5,733.95, 12.50%), Century Plyboards (India) Ltd. (700.70, 0.21%) and Crisil Ltd. (3,392.65, 3.08%).

Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (665.55, -1.41%) and Bayer Cropscience Ltd. (4,623.30, -0.26%).

10 stocks climbed above their 200 day SMA including ITI Ltd. (121.35, 3.94%) and Torrent Pharmaceuticals Ltd. (2,834.40, 1.63%). 10 stocks slipped below their 200 SMA including Petronet LNG Ltd. (228.05, -3.78%) and Ipca Laboratories Ltd. (2,097.10, -2.61%).