Trendlyne Marketwatch    
06 Dec 2021
Markets end in red, GSK Pharma touches 52-week high on approval of a Covid-19 drug

Trendlyne Analysis

  • Trident, WABCO India, JK Lakshmi Cement, and Garware Technical Fibres are trading with higher volumes as compared to Friday.

  • Axis Securities upgrades its rating for KEC International to ‘Buy’ from ‘Hold’ with a target price upside of 13%. The company's recent Rs 1,065-crore order win is a big positive, according to the brokerage. The rising size of orders from international markets and Indian Railways will drive the company's revenues for another two years

  • Morepen Labs is rising after it gets the US FDA approval to export fexofinadine hydrochloride, a generic anti-allergy drug, in the US markets from Q4FY22.

  • GlaxoSmithKline Pharmaceuticals touches a 52-week high as UK regulator approves GSK UK's drug to treat patients at high risk of developing severe Covid-19 symptoms. The company says this drug will work against the Omicron variant as well.

  • Anand Rathi Wealth’s Rs 660-crore IPO gets bids for 10X of the available 84.7 lakh shares on offer on the third day of bidding till now. Retail investors quota of 41.1 lakh shares was subscribed 8X. The offer comprises entirely of an offer for sale of upto Rs 1,336 crore.

  • Godrej Properties surges in early trade as it enters into a JV with TDI group to develop an ultra-luxury residential project of 1.25 lakh sq ft area in Delhi.

  • Eris Lifesciences is trading with more than five times its weekly average trading volumes. IFB Industries, MMTC, Indo Count Industries, and HFCL are trading with more than three times their weekly average trading volumes.

  • TeamLease Services rises as the company sells its wholly-owned subsidiary IIJT Education for Rs 4.7 crore as the subsidiary "had no operating income/revenue during the previous financial year".

  • Geojit BNP Paribas maintains a 'BUY' on HDFC as its net profit grows 32% YoY in Q2FY22 driven by double-digit rise in NII, 40 bps increment in NIM and improvement in collections. The brokerage expects a target price upside of 19%

  • Promoter entity Birla Group Holdings buys 9 lakh shares in Aditya Birla Capital at an average price of Rs 108.07. This increases the entity's holdings to 7.35%.

  • HDFC Mutual Fund sells 15.76 lakh shares or 2.06% stake in Persistent Systems and reduces its holding in the company to 5.14% from 7.20%

  • Tata Motors plans to hike prices from January 2022 to balance out the impact of rising commodity, raw materials, and input costs, according to reports. The recent rise in transportation costs is affecting the total cost structure causing disruptions for original equipment manufacturers (OEMs).

  • Eris Lifesciences is rising as it forms a joint venture with MJ Biophram to enter the insulin segment and to expand its product portfolio to offer biotherapeutic options to the patients in cardio-metabolic segment. The 70:30 joint venture will engage in distribution of human and analogue insulin including Aspart, Glargine and Lispro among other products.

  • NMDC approves an interim dividend of Rs 9 per share. The total dividend outgo for the company will be Rs 2,640 crore out of which Government of India will receive Rs 1,605 crore in its kitty. The record date is December 15, 2021.

  • Indian markets slumped today. Nifty 50 closed at 16,912.25 (-284.5, -1.7%) , BSE Sensex closed at 56,747.14 (-949.3, -1.7%) while the broader Nifty 500 closed at 14,618.35 (-238.0, -1.6%)

  • Market breadth is highly negative. Of the 1,851 stocks traded today, 530 were in the positive territory and 1,262 were negative.

Riding High:

Largecap and midcap gainers today include Vodafone Idea Ltd. (15.00, 3.81%), GlaxoSmithKline Pharmaceuticals Ltd. (1780.15, 2.84%) and NHPC Ltd. (33.40, 2.61%).

Downers:

Largecap and midcap losers today include Coal India Ltd. (148.55, -7.01%), Thermax Ltd. (1673.45, -5.07%) and Indus Towers Ltd. (268.50, -4.35%).

Volume Rockets

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

Top high volume gainers on BSE included Responsive Industries Ltd. (121.25, 19.52%), IFCI Ltd. (14.90, 9.16%) and MMTC Ltd. (42.60, 5.84%).

Top high volume losers on BSE were Crisil Ltd. (2906.75, -3.39%), V Mart Retail Ltd. (3735.40, -3.10%) and Swan Energy Ltd. (122.00, -2.09%).

Eris Lifesciences Ltd. (698.15, -0.99%) was trading at 6.1 times of weekly average. IFB Industries Ltd. (1154.85, 0.37%) and Indoco Remedies Ltd. (418.10, 3.53%) were trading with volumes 4.2 and 3.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks took off, crossing 52 week highs, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Holdings & Investment Ltd. (5253.25, -3.14%), BEML Ltd. (2014.00, 6.62%) and GlaxoSmithKline Pharmaceuticals Ltd. (1780.15, 2.84%).

Stocks making new 52 weeks lows included - City Union Bank Ltd. (142.65, -1.07%) and Lupin Ltd. (858.25, -1.69%).

11 stocks climbed above their 200 day SMA including Jindal Saw Ltd. (106.40, 2.41%) and 3M India Ltd. (26080.10, 1.05%). 24 stocks slipped below their 200 SMA including Coal India Ltd. (148.55, -7.01%) and PVR Ltd. (1350.65, -6.34%).

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