Market closes in green, IEX's electricity volumes rise 54% YoY in November

Trendlyne Analysis

Upbeat trading today. Nifty 50 closed at 17,176.70 (264.5, 1.6%) , BSE Sensex closed at 57,633.65 (886.5, 1.6%) while the broader Nifty 500 closed at 14,834.50 (216.2, 1.5%)

Market breadth is overwhelmingly positive. Of the 1,816 stocks traded today, 1,363 were on the uptick, and 400 were down.

Tata Teleservices, IFB Industries, V Mart Retail, and Great Eastern Shipping Company are trading with higher volumes as compared to Monday.
Government selects Parag Milk Foods as a beneficiary of the PLI Scheme for the period of FY21-27. The company will get incentives of up to Rs 71 crore to be spread over the next six years. The company plans a minimum Investment Rs 29 crore over FY21-23 to increase its capacity to 10 metric tonne per day.
Indian Energy Exchange's November electricity volumes rise 54% YoY to 9,477 million units. The real time electricity market volumes grow 47% YoY growth to 1,311 million units. The green power market volumes rise 178% YoY to 457 million units
Motilal Oswal maintains a 'Neutral' rating on Biocon as it believes that the one year forward PE of 32X reasonably captures company's recent biosimilar launches in US market and two-year forward earnings growth of 36% in the Biologics business (emerging markets). It expects a target price upside of 0.3%
HFCL, a telecom gear maker, surges in trade as its board approves a qualified institutional placement of Rs 750 crore to be raised at a floor price of Rs 72.33 per equity share.
Nippon Life India Trustee acquires 4.64 lakh shares or 0.76% stake in PVR and increases its holding in the company to 5.14% from 4.38%.
Lakshmi Machine Works is trading with more than three times its weekly average trading volumes. MMTC, Dalmia Bharat, Hindustan Copper, and YES Bank are trading with more than 2.5X their weekly average trading volumes.
Tanla Platforms hits 5% upper circuit after it partners with Vodafone Idea to deploy block-chain enabled Wisely Platform which is expected to go live in Q4FY22. Tanla will provide solutions to secure, encrypt and enhance performance for the entire international messaging traffic on the Vi network.
BOB Capital Markets maintains a 'BUY' rating on Eris Lifesciences as it enters into a 10-yr JV with MJ Biopharm so as to boost its offerings in the diabetes care segment. The brokerage further expects a target price upside of 38%
HDFC Securities maintains a 'BUY' rating on ICICI Bank on the back of its tech initiatives such as iMobile and iLens, 130+ fintech partnerships and growing market share in credit card spends. The bank can further achieve an ROE of 15% by FY23 from 12.3% in FY21, the brokerage said. It expeccts an upside of 24% on the bank's stock.
RateGain Travel Technologies raises Rs 599 core from investors by selling 1.40 crore shares at Rs 425 apiece to 12 anchor investors, including Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, Sundaram MF, Axis MF, SBI Life Insurance Company, ICICI Prudential Life Insurance Company among others.
Superstar investor Mohnish Pabrai buys 68.98 lakh shares or 2.05% stake in Rain Industries and increases his holding in the company to 8% from 5.95%.

Riding High:

Largecap and midcap gainers today include Torrent Power Ltd. (585.90, 5.62%), IDBI Bank Ltd. (47.95, 5.27%) and Hindalco Industries Ltd. (442.50, 5.02%).

Downers:

Largecap and midcap losers today include Vodafone Idea Ltd. (14.25, -5.00%), Kansai Nerolac Paints Ltd. (580.90, -2.59%) and Alembic Pharmaceuticals Ltd. (791.90, -1.69%).

Volume Rockets

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

Top high volume gainers on BSE included Hindustan Copper Ltd. (125.80, 10.06%), MMTC Ltd. (45.15, 5.99%) and Varroc Engineering Ltd. (300.85, 5.49%).

Top high volume losers on BSE were Aavas Financiers Ltd. (2485.10, -6.06%), KSB Ltd. (1239.80, -1.07%) and HFCL Ltd. (77.85, -0.57%).

Procter & Gamble Hygiene & Healthcare Ltd. (15101.90, -0.03%) was trading at 5.0 times of weekly average. VRL Logistics Ltd. (456.65, 0.78%) and Lakshmi Machine Works Ltd. (9156.60, 3.55%) were trading with volumes 4.8 and 4.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52 week highs, while 6 stocks tanked below their 52 week lows.

Stocks touching their year highs included - BEML Ltd. (2044.15, 1.50%), GlaxoSmithKline Pharmaceuticals Ltd. (1793.15, 0.73%) and IFCI Ltd. (15.40, 3.36%).

Stocks making new 52 weeks lows included - Gulf Oil Lubricants India Ltd. (497.80, -1.74%) and Lupin Ltd. (866.15, 0.92%).

24 stocks climbed above their 200 day SMA including PNB Housing Finance Ltd. (573.65, 5.00%) and Eris Lifesciences Ltd. (731.85, 4.83%). 9 stocks slipped below their 200 SMA including Aavas Financiers Ltd. (2485.10, -6.06%) and Kansai Nerolac Paints Ltd. (580.90, -2.59%).