Market closes higher, Aurobindo Pharma plans to sell 30-35% stake in its injectables business

Trendlyne Analysis

Nifty 50 closed at 18,055.75 (52.5, 0.3%) , BSE Sensex closed at 60,616.89 (221.3, 0.4%) while the broader Nifty 500 closed at 15,530.55 (35, 0.2%)

Market breadth is in the red. Of the 1,858 stocks traded today, 849 showed gains, and 986 showed losses.

Cholamandalam Financial Holdings, Teamlease services, ABB India, and Galaxy Surfactants are trading with higher volumes as compared to Monday.
Adani Green Energy’s total operational capacity increases by 84% YoY to 5,410 mega watt (MW) in Q3FY22. Solar energy portfolio’s capacity rises 96% YoY to 4,763 MW, while wind portfolio's by 102% YoY to 497 MW. The sale of energy rises 97% YoY at 2,504 million units in Q3FY22.
Aurobindo Pharma is falling as reports suggest the company is planning to sell around 30-35% stake in its injectable business for Rs 4,500-5,250 crore to unlock value in its core business.
HDFC Life Insurance’s new business premium for December 2021 rises 55.6% YoY to Rs 2,973.74 crore.
Madras High Court dismisses SpiceJet's appeal against admission of its winding up on Credit Suisse AG's petition. A petition was filed by Credit Suisse AG alleging inability by the airline to pay its debt owed to Credit Suisse.
Fortis Healthcare is falling as US-based Emqore Envesecure Private Capital Trust files a suit against the company and various others for alleged "copyright infringement and tortious interference with contracts". Emqore is seeking damages from Fortis of over $6.5 billion.
Nilkamal is trading with more than 12 times its weekly average trading volume. BASF India, RHI Magnesita India, Just Dial, and NLC India are trading at more than four times their weekly average trading volumes.
Steel stocks like Tata Steel and JSW Steel fall on the bourses as Jefferies downgrades the steel sector due to a correction in steel prices and weak demand from China. The brokerage further expects Tata Steel and JSW Steel's earnings for to fall 44% and 23%, respectively, in FY23.
One97 Communications’ (Paytm) gross merchandise value rises 123% YoY to Rs 2.5 lakh crore (up 27.8% QoQ) in Q3FY22. Monthly transacting users rises 37% YoY to 6.4 crore users. The numbers of loans disbursed rise 401% to 44 lakh at the end of the quarter, with the total value of loans disbursed rising more than 4.5X to Rs 2,180 crore.
JSW Steel's consolidated steel output for Q3FY22 rises 28% YoY rise to 5.35 million tonnes. Domestic Production rises 24% YoY to 5.19 million tonnes. Combined volumes for nine months ended December 31, 2021 stands at 15.5 million tonnes, up 39% YoY
KBC Asset Management sells 32.55 lakh shares or 0.53% stake of NCC at a price of Rs 73.52 in a bulk deal on Monday. This deal effectively reduces its stake in the company to 2.47% from 3%.
Vodafone Idea’s board avails the option of telecom relief package by DoT and approves conversion of the full amount of interest, related to spectrum auction installments, and Adjusted Gross Revenue (AGR) dues into equity. The Net Present Value (NPV) of the interest on spectrum auction and AGR is expected to be about Rs 16,000 crore. After conversion the Indian government will hold a 35.8% stake, the promoter shareholders of Vodafone Group will hold around 25.8%, and Aditya Birla Group around 17.8%.

Riding High:

Largecap and midcap gainers today include Adani Green Energy Ltd. (1567.95, 8.97%), Au Small Finance Bank Ltd. (1298.80, 5.22%) and Adani Enterprises Ltd. (1843.90, 5.21%).

Downers:

Largecap and midcap losers today include Vodafone Idea Ltd. (11.80, -20.54%), GMR Infrastructure Ltd. (44.85, -7.43%) and Jindal Steel & Power Ltd. (383.95, -5.03%).

Volume Shockers

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

Top high volume gainers on BSE included Greaves Cotton Ltd. (238.05, 13.68%), Prism Johnson Ltd. (150.70, 10.93%) and Adani Green Energy Ltd. (1567.95, 8.97%).

Top high volume loser on BSE was Vodafone Idea Ltd. (11.80, -20.54%).

Nilkamal Ltd. (2582.30, 3.86%) was trading at 15.5 times of weekly average. Just Dial Ltd. (862.45, 6.36%) and BASF India Ltd. (3178.70, 7.36%) were trading with volumes 11.9 and 11.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks made 52-week highs,

Stocks touching their year highs included - Astral Ltd. (2452.65, -0.05%), Greaves Cotton Ltd. (238.05, 13.68%) and KPR Mill Ltd. (732.85, 0.49%).

17 stocks climbed above their 200 day SMA including PVR Ltd. (1482.80, 3.43%) and Route Mobile Ltd. (1864.25, 2.81%). 8 stocks slipped below their 200 SMA including Jindal Steel & Power Ltd. (383.95, -5.03%) and Quess Corp Ltd. (792.55, -3.09%).