Trendlyne Marketwatch    
10 Jan 2022
Markets close in green, Macquarie cuts Paytm's target price further by 25% to Rs 900

Trendlyne Analysis

Upbeat trading today.Nifty 50 closed at 18,003.30 (190.6, 1.1%) , BSE Sensex closed at 60,395.63 (651.0, 1.1%) while the broader Nifty 500 closed at 15,495.55 (147, 1.0%)

Market breadth is surging up. Of the 1,898 stocks traded today, 1,352 were in the positive territory and 512 were negative

  • Procter & Gamble Hygiene & Healthcare, CG Power and Industrial Solutions, Suven Pharmaceuticals, and Bayer Cropscience are trading with higher volumes as compared to Friday

  • Macquarie Research cuts One97 Communications’ (Paytm) target price by almost 25% to Rs 900 giving it a ‘underperformer’ rating as it does not see a high potential in its scaling up of merchant loans business. The brokerage sees RBI’s digital payment regulations on capping charges impacting revenues, hence, reducing revenue estimates for the company to 23% from 26% for FY21-26. It has also cut down EPS estimates by 16-27% because of high employee and software expenses

  • CreditAccess Grameen’s consolidated gross loan portfolio rises 18.4% YoY to Rs 14,587 crore at the end of December 2021 with Madura Micro Finance’s gross loans contributing Rs 2,407 crore, up by 13.6% YoY. Consolidated disbursements rise 22.5% MoM to Rs 1,845 crore with the total number of borrowers rising to 90,505, up by 51% MoM from 59,930 in November 2021.

  • Mahanagar Gas increases the prices of compressed natural gas by Rs 2.50 per kg and piped natural gas by Rs 1.50 per standard cubic metre for the Mumbai Metropolitan Region with effect from January 8, 2022 midnight. This is the second price hike after the on company also hiked gas prices back in December 2021.

  • Avenue Supermarts (D-Mart) ' Q3FY22 net profits rise 22.6% YoY to Rs 552.5 crore, led by a 22% YoY increase in revenues to Rs 9,065 crore. Weak recovery in fashion and general merchandise segments weigh on its sales growth as well as gross margins

  • Railtel Corporation of India approves interim dividend at the rate of 17.5% of paid-up share capital and Rs 1.75 per share for FY22. The record date is January 21, 2022.

  • RHI Magnesita India is trading with more than six times its weekly average trading volume. KEC International, Hinduja Global Solutions, Asahi India Glass, and SJVN are trading at more than three times their weekly average trading volumes.

  • Sobha’s sales volumes rise to 1.32 million square feet up by 17% YoY to Rs 1,048 crore. Bengaluru market’s contribution was the highest with sales volumes increasing to 0.96 million square feet up by 22% YoY. The company’s total sales volume, sale value, and Sobha share of sale value are up by 33%, 34%, 46% respectively at the end of December 2021.

  • KEC International rises as the company wins new orders worth Rs. 1,025 crore. The orders include transmission and distribution projects in Middle East, infrastructure works in the metals and mining segment, and laying of a slurry pipeline in India among others.

  • Oberoi Realty rises after its sales bookings jump 2X to Rs 1,965 crore for Q3FY22, backed by higher festive demand. Its total sale of units more than doubled to 610 units for the nine months ended December 31, 2021

  • Tata Consultancy Services surges in trade as its board will mull a buyback of equity shares in its meeting to be held on Wednesday. The board will also take up for approval the company's Q3FY22 results in the same meeting

  • Tata Steel's consolidated steel output for Q3FY22 rises 2% YoY rise to 7.68 million tonnes. Domestic Production rises 4% YoY to 4.80 million tonnes. However, the sales volume for the quarter fell by 3% YoY to 6.88 million tonnes

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (108.70, 8.48%), GMR Infrastructure Ltd. (48.45, 5.79%) and Bharat Heavy Electricals Ltd. (62.65, 5.29%).

Downers:

Largecap and midcap losers today include Ipca Laboratories Ltd. (1061.00, -3.54%), L&T Technology Services Ltd. (5597.90, -3.10%) and Godrej Consumer Products Ltd. (931.05, -2.77%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Greaves Cotton Ltd. (209.40, 19.69%), Alok Industries Ltd. (29.80, 12.24%) and Sunteck Realty Ltd. (569.75, 11.54%).

Top high volume losers on BSE were SBI Cards and Payment Services Ltd. (904.55, -2.42%) and Avenue Supermarts Ltd. (4633.55, -2.07%).

Indostar Capital Finance Ltd. (250.90, 5.44%) was trading at 21.7 times of weekly average. RHI Magnesita India Ltd. (385.80, 4.27%) and Adani Power Ltd. (108.70, 8.48%) were trading with volumes 7.4 and 7.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks hit their 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Asian Paints Ltd. (3553.50, -0.64%), Astral Ltd. (2453.90, 0.71%) and Greaves Cotton Ltd. (209.40, 19.69%).

Stock making new 52 weeks lows included - Mas Financial Services Ltd. (596.75, -0.91%).

21 stocks climbed above their 200 day SMA including Adani Power Ltd. (108.70, 8.48%) and Jubilant Ingrevia Ltd. (613.85, 7.83%). 6 stocks slipped below their 200 SMA including Ipca Laboratories Ltd. (1061.00, -3.54%) and PI Industries Ltd. (2887.35, -2.09%).

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