Market closes in green, RBI says RBL Bank is well-capitalized and its financial health is stable

Trendlyne Analysis

Upbeat trading today. Nifty 50 closed at 17,086.25 (82.5, 0.5%) , BSE Sensex closed at 57,420.24 (295.9, 0.5%) while the broader Nifty 500 closed at 14,727.60 (62.8, 0.4%)

Market breadth is in the green. Of the 1,866 stocks traded today, 1,024 showed gains, and 806 showed losses.

Dhanuka Agritech, Adani Green Energy, Johnson Controls, and Grindwell Norton are trading with higher volumes as compared to Friday.
ICICIdirect maintains a 'BUY' on Radico Khaitan, with a target price upside of 20%. The brokerage sees the company’s plans of new product launches in premium and super premium segments in the next two years to help the company’s earnings grow by over 20% till FY24.
Adani Transmission receives a letter of intent for a 400-kV transmission project worth Rs 200 crore in Karur, Tamil Nadu along with a 765 kV renewable energy evacuation systems project worth Rs 1,200 crore in Khavda, Gujarat
Nifty Pharma is trading higher with stocks like Laurus Labs, Torrent Pharmaceuticals, Lupin, Cipla among others rising in trade.
Edelweiss maintains a ‘Buy’ on Metropolis Healthcare but cuts its target price by 3% to Rs 3,639. The brokerage says the company’s acquisitions in FY22 were expensive. Its revenues from non-Covid business rise by 80% YoY in H1FY22, a strong premium business model driving growth in H2FY22.
RBL Bank is trading with less than 15 times its weekly average trading volumes. Ashoka Buildcon, Happiest Minds Technologies, Jindal Stainless (Hisar), and IndusInd Bank are trading with more than three times their weekly average trading volumes.
Amid three senior-level resignations of Abhishek Arun, Renu Satti and Abhishek Gupta, Paytm announces consolidation of the offline payments business vertical with the lending vertical under the leadership of Bhavesh Gupta as well 25 top-level promotions
PI Industries' Managing Director and CEO Raman Ramachandran steps down but will to as a non-executive non-independent director to pursue his other interests in management and coaching. This change will be in effect from January 1, 2022
Lupin rises as the US FDA approves its new oral drug Sevelamer Carbonate. The drug is used to treat patients on dialysis and will be manufactured at the company's Goa facility in India.
RBL Bank is falling as Managing Director & CEO Vishwavir Ahuja goes on leave and Rajeev Ahuja replaces him as the interim Managing Director & CEO. RBI appoints its Chief General Manager Yogesh K Dayal as an additional director on the bank’s board.
HP Adhesives’ shares list at 15% premium to the issue price at Rs 315 on the bourses after getting bids for 21X of total shares on offer.

Riding High:

Largecap and midcap gainers today include GMR Infrastructure Ltd. (46.15, 8.21%), Procter & Gamble Hygiene & Healthcare Ltd. (15626.50, 6.40%) and Natco Pharma Ltd. (890.40, 5.12%).

Downers:

Largecap and midcap losers today include Zee Entertainment Enterprises Ltd. (317.95, -4.17%), United Breweries Ltd. (1534.10, -2.21%) and Au Small Finance Bank Ltd. (1005.20, -2.19%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Sunteck Realty Ltd. (482.25, 8.84%), Tata Coffee Ltd. (218.35, 8.63%) and CCL Products India Ltd. (430.75, 8.47%).

Top high volume losers on BSE were RBL Bank Ltd. (140.95, -18.48%), Dhanuka Agritech Ltd. (726.25, -1.13%) and Bandhan Bank Ltd. (252.90, -0.84%).

Navin Fluorine International Ltd. (4243.95, 6.27%) was trading at 6.0 times of weekly average. Procter & Gamble Hygiene & Healthcare Ltd. (15626.50, 6.40%) and GMR Infrastructure Ltd. (46.15, 8.21%) were trading with volumes 5.3 and 4.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks made 52 week highs, while 7 stocks hit their 52 week lows.

Stocks touching their year highs included - GMR Infrastructure Ltd. (46.15, 8.21%), KPR Mill Ltd. (670.90, 9.11%) and La Opala RG Ltd. (430.10, 2.86%).

Stocks making new 52 weeks lows included - Gillette India Ltd. (5280.60, -1.87%) and Whirlpool of India Ltd. (1734.70, -1.05%).

10 stocks climbed above their 200 day SMA including Vakrangee Ltd. (43.95, 4.64%) and Sumitomo Chemical India Ltd. (375.05, 3.81%). 15 stocks slipped below their 200 SMA including MMTC Ltd. (46.10, -3.15%) and Phillips Carbon Black Ltd. (226.20, -1.61%).