Market closes higher, CMS Info Systems’ Rs 1,100-crore IPO subscribed 52%

Trendlyne Analysis

The market closed on an upbeat note. Nifty 50 closed at 16,955.45 (184.6, 1.1%) , BSE Sensex closed at 56,930.56 (611.6, 1.1%) while the broader Nifty 500 closed at 14,639.75 (178.4, 1.2%)

Market breadth is ticking up strongly. Of the 1,824 stocks traded today, 1,403 were on the uptrend, and 395 went down.

Bajaj Holdings & Investment, Whirlpool, Quess Corp, and Kalpataru Power Transmissions are trading with higher volumes as compared to Tuesday.
Motilal Oswal cuts its target price for Godrej Consumer by 8%, maintaining a ‘Buy’ rating on the stock as product penetration slows. The brokerage believes that the company’s high inventory levels and lower investments in advertising will lead to lower volume growth and increase gross margins in H2FY22.
CMS Info Systems’ Rs 1,100-crore IPO gets bids for 52% of the available 3.75 crore shares on offer. Retail investors bid for 1.02X of their quota of 1.87 crore shares on the second day of bidding. The offer entirely comprises of an offer for sale of Rs 1,110 crore.
Larsen & Toubro bags a 'significant' order (Rs 1,000-2500 crore) to construct residential townships in Bengaluru. The project involves the construction of 6,768 apartments spread across 39 Towers along with 149 villas aggregating to a total built-up area of 13.43 million square feet.
Capri Global Capital is trading with more than 15 times its weekly average trading volumes. India Cements, Brigade Enterprises, and Minda Corporation are trading with more than five times their weekly average trading volumes.
YES Bank’s board approves raising funds up to Rs 10,000 crore by issue of equity shares, depository receipts, convertible bonds, debentures, warrants, and any other equity-linked securities, subject to approval from shareholders. YES Bank earlier raised Rs 10,000 crore in June 2021 through debt securities.
India Cements is rising after Radhakishan Damani increases his stake in the company to 22.7%. At the end of September 2021, he held 12.76% stake in the company through his various investment vehicles.
Metro Brands' shares list at 13% discount to the issue price of Rs 500 on the bourses after getting bids for 3.64X of total shares on offer.
Morgan Stanley(MS) and Goldman Sachs(GS) expect Paytm to break even in EBITDA terms by FY25E as the share of financial services and e-commerce business scales up. MS further anticipates the company's revenue to grow at a CAGR of 40%+ in the next 5 years while GS is working with growth estimates of 22% in the next 8 years.
Tradezeal Online, an arm of IndiaMART InterMESH, acquires 26.01% stake in Edgewise Technologies (EasyEcom) for Rs 13.35 crore. Edgewise Technologies offers online commerce enablement solutions to the merchants like inventory and warehouse management solutions which allow merchants to allocate, track, and reconcile inventory across various online and offline sales channels.
Zee Entertainment board approves its merger with and Sony Pictures Network India, an indirect subsidiary of Sony Pictures Entertainment. Sony’s stake in the merged entity will be 50.86% while Zee Entertainment’s promoters will hold a 3.99% stake. The public shareholding in the merged entity, which will be publicly listed, will hold a 45.15%. Punit Goenka will lead the combined entity as Managing Director & CEO.
Markets are trading high. Nifty 50 was trading at 16,885.20 (114.4, 0.7%) , BSE Sensex was trading at 56,743.33 (424.3, 0.8%) while the broader Nifty 500 was trading at 14,575.50 (0.79%).
Market breadth is highly positive. Of the 1,811 stocks traded today, 1,426 showed gains, and 349 showed losses.

Riding High:

Largecap and midcap gainers today include GMR Infrastructure Ltd. (42.85, 7.53%), Macrotech Developers Ltd. (1,212.35, 6.65%) and SRF Ltd. (2,306.00, 6.13%).

Downers:

Largecap and midcap losers today include Power Grid Corporation of India Ltd. (201.55, -2.44%), Sona BLW Precision Forgings Ltd. (696.10, -1.86%) and Whirlpool of India Ltd. (1,762.55, -1.80%).

Volume Shockers

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

Top high volume gainers on BSE included Capri Global Capital Ltd. (535.95, 13.51%), Responsive Industries Ltd. (118.30, 10.15%) and Century Textiles & Industries Ltd. (883.45, 9.98%).

Brigade Enterprises Ltd. (488.15, 8.30%) was trading at 13.8 times of weekly average. India Cements Ltd. (186.75, 5.72%) and Minda Corporation Ltd. (171.65, 4.63%) were trading with volumes 8.3 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks hit their 52-week highs, while 1 stock hit their 52-week lows.

Stocks touching their year highs included - Minda Industries Ltd. (1,187.65, 7.28%), TCI Express Ltd. (2,520.25, 7.46%) and Anupam Rasayan India Ltd. (869.10, 2.37%).

Stock making new 52 weeks lows included - Gillette India Ltd. (5325.45, 0.33%).

39 stocks climbed above their 200 day SMA including Capri Global Capital Ltd. (535.95, 13.51%) and India Cements Ltd. (186.75, 5.72%). 3 stocks slipped below their 200 SMA including Cholamandalam Financial Holdings Ltd. (642.50, -2.25%) and Indian Bank (137.55, -0.65%).