Market closes flat, Equitas Small Finance Bank's advances rise 13% YoY

Trendlyne Analysis

Nifty 50 closed at 18,257.80 (45.5, 0.3%) , BSE Sensex closed at 61,235.30 (85.3, 0.1%) while the broader Nifty 500 closed at 15,721.05 (53.2, 0.3%)

Market breadth is neutral. Of the 1,848 stocks traded today, 941 were on the uptrend, and 871 went down.

Honeywell Automation India, AIA Engineering, Gillette India, and Nazara Technologies are trading with higher volumes as compared to Wednesday.
Equitas Small Finance Bank’s gross advances rise 13% YoY to Rs 19,642 crore at the end of December 2021, as demand for loans from the informal sector increase. Total deposits grew by 13% YoY to Rs 17,884 crore with retail term deposits rising 27% YoY to Rs 7,000 crore
Axis Direct initiates coverage on SAIL with a 'BUY' call and sees a target price upside of 44%. The rating is backed by expectation of EBITDA growth of 13.5% between FY21-24 owing to recovery in steel prices by FY23 and attractive valuations
Ramkrishna Forgings wins an export order from North America worth Rs 57.5 crore to supply spindles. This order will be implemented over a period of three years.
Metal stocks are trading in green with stocks like JSW Steel, Vedanta, Tata Steel, and Coal India rising. The broader sectoral index BSE Metal is also trading higher today.
TCNS Clothing Co. is trading with more than 40 times its weekly average trading volume. PNB Housing Finance, Jindal Stainless, ICICI Securities, and Karur Vysya Bank are trading at more than three times their weekly average trading volumes.
Wipro’s Q3FY22 net profit grows 1.3% QoQ to Rs 2,969 crore. Revenue from operations rises 3.2% QoQ to Rs 20,313.6 crore. In dollar terms, revenues from IT segment rise 2.3% QoQ to $2.64 billion. Operating margins fell 20 bps QoQ to 17.6% because of salary hikes and ESOPs given to senior management
Indraprastha Gas increases the prices of piped natural gas by Rs 0.50 per standard cubic metre for Delhi with effect from Wednesday. This is the second price hike after the company hiked gas prices back in October 2021
TCS’ Q3FY22 net profit rises 1.5% QoQ to Rs 9,769 crore while revenues increase 4.3% to Rs 48,885 crore. Cloud, cyber security, IoT and digital engineering-based services drive growth in Q3. The company announces a buyback of Rs 18,000 crore and an interim dividend of Rs 7 per share.
Tata Motors' arm Jaguar Land Rover's retail sales for Q3 FY22 drops 13.6% QoQ and 37.6% YoY to 80,126 units comprising of 14,407 units of Jaguar and 65,719 units of Land Rover.
Infosys’ Q3FY22 net profit rises 7% QoQ to Rs 5,809 crore on the back of a 7.7% increase in revenues to Rs 33,379 crore. The company’s large deal wins move up to $2.53 billion. The management believes large deal wins and rapid digital transformation have contributed to revenue growth in Q3FY22 and the trend is likely to continue.

Riding High:

Largecap and midcap gainers today include Polycab India Ltd. (2,685.15, 8.24%), Tata Steel Ltd. (1,221.15, 6.45%) and Jindal Steel & Power Ltd. (413.20, 5.84%).

Downers:

Largecap and midcap losers today include Wipro Ltd. (649.75, -6.02%), Motherson Sumi Systems Ltd. (234.80, -3.55%) and Oberoi Realty Ltd. (945.65, -2.81%).

Volume Shockers

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

Top high volume gainers on BSE included Polycab India Ltd. (2,685.15, 8.24%), TCNS Clothing Co. Ltd. (815.45, 7.54%), and Jindal Stainless Ltd. (206.15, 7.43%).

Top high volume losers on BSE were Wipro Ltd. (649.75, -6.02%), HDFC Bank Ltd. (1,528.00, -1.84%) and Supreme Industries Ltd. (2,248.20, -0.85%).

PNB Housing Finance Ltd. (508.50, 2.00%) was trading at 10.2 times of weekly average. FDC Ltd. (314.15, 5.01%) and Prince Pipes & Fittings Ltd. (700.40, 0.62%) were trading with volumes 8.5 and 7.7 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. (2,483.45, -0.09%), Blue Dart Express Ltd. (7,255.30, -2.10%) and Chambal Fertilisers & Chemicals Ltd. (451.50, -0.46%).

16 stocks climbed above their 200 day SMA including Tata Steel Ltd. (1,221.15, 6.45%) and Jindal Steel & Power Ltd. (413.20, 5.84%). 5 stocks slipped below their 200 SMA including Berger Paints (India) Ltd. (781.95, -0.88%) and MOIL Ltd. (171.35, -0.81%).