Trendlyne Analysis

Markets fell in today's trading. Nifty 50 closed at 18,113.05 (-195.1, -1.1%) , BSE Sensex closed at 60,754.86 (-554.1, -0.9%) while the broader Nifty 500 closed at 15,573.10 (-208.2, -1.3%)

Market breadth is highly negative. Of the 1860 stocks traded today, 403 were in the positive territory and 1437 were negative.

• Bayer Cropscience, IFB Industries, Procter & Gamble Hygiene & Healthcare, and Gland Pharma are trading with higher volumes as compared to Monday.

• Maruti Suzuki falls as CLSA maintains 'Sell' rating on the stock with target of Rs 6,420. The brokerage sees the new safety norms of mandatory six airbags in cars to impact the company the most, with a likely rise in cost of its vehicles by Rs 16,000.

• Nazara Technologies is set to acquire 55% stake in programmatic advertising and monetization company Datawrkz for a consideration of nearly Rs 124 crore to strengthen its Ad tech portfolio.

• ICICI Securities maintains a 'BUY' rating on UltraTech Cement with a target price upside of 15%. Although UltraTech witnessed a 19% YoY fall in its EBITDA/tonne, the brokerage expects fuel cost pressures to ease from Q1FY23 and sales volumes to recover in Q4FY22.

• Dixon Technologies enters into an equal joint venture with Imagine Marketing for its brand “ boAt ” to design and manufacture wireless audio solutions in India. The partners are also collaborating in advancing the Indian mobile accessory market as part of the ‘Make in India’ initiative. Dixon, with a 50% stake in the proposed JV, will facilitate in manufacturing of the product along with product design and quality assurance.

• Kalpataru Power Transmissions is trading with more than 11 times its weekly average trading volume. Mangalore Refinery And Petrochemicals, Sonata Software, Infibeam Avenues, and Hemisphere Properties India are trading at more than five times their weekly average trading volumes.

• Prestige Estates rises after its sales bookings jump 2X to Rs 4,267.6 crore and collection rises 70% to Rs 2,431.6 crore for Q3 FY22. Its total sale stood at Rs 7,113.4 crore for the nine months ended December 31, 2021.

• Tatva Chintan Pharma Chem's Q3FY22 profit rises 9.2% YoY to Rs 22.8 crore led by an over 30% YoY growth in its sales to Rs 104.6 crore. A diversified product mix consisting of structure directing agents, agrochemical intermediaries and specialty chemicals help revenues grow in Q3.

• Schaeffler India's board of directors set the record date for the stock split of 5:1 as February 9, 2022. In October 2021, the auto part company's board of directors had approved this stock split

• Tech Mahindra acquires 100% stake in Com Tec Co IT for 310 million euros and a minority stake of 25% each in SWFT Technologies and Surance for 16.5 million euros and 3.5 million euros, respectively

• HFCL’s Q3FY22 net profit falls 4.7% YoY to Rs 81.1 crore and revenues decline 4.86% YoY to Rs 1,215.2 crore. The company’s profits took a hit because of increase in logistics costs and rise in input prices of fibre and semi-conductors.

Riding High:

Largecap and midcap gainers today include Adani Green Energy Ltd. (1,900.10, 3.53%), ABB India Ltd. (2,368.55, 2.08%) and Cholamandalam Investment & Finance Company Ltd. (612.45, 1.96%).

Downers:

Largecap and midcap losers today include Ambuja Cements Ltd. (380.65, -6.66%), Apollo Hospitals Enterprise Ltd. (4,615.80, -6.03%) and Adani Power Ltd. (109.75, -5.43%).

Movers and Shakers

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

Top high volume gainers on BSE included Infibeam Avenues Ltd. (44.30, 8.45%), Kalpataru Power Transmissions Ltd. (410.05, 5.41%) and Lux Industries Ltd. (3,850.25, 4.32%).

Top high volume losers on BSE were Dilip Buildcon Ltd. (346.70, -8.04%), Ambuja Cements Ltd. (380.65, -6.66%) and Apollo Hospitals Enterprise Ltd. (4,615.80, -6.03%).

Mangalore Refinery And Petrochemicals Ltd. (45.90, 1.44%) was trading at 8.9 times of weekly average. Sonata Software Ltd. (859.80, -1.42%) and Cholamandalam Financial Holdings Ltd. (650.50, 0.81%) were trading with volumes 8.5 and 5.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

26 stocks took off, crossing 52-week highs, while 3 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (2,026.75, 1.20%), Chambal Fertilisers & Chemicals Ltd. (465.70, -1.05%) and Grasim Industries Ltd. (1,852.25, -3.46%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (453.35, -0.32%) and Dilip Buildcon Ltd. (346.70, -8.04%).

12 stocks climbed above their 200 day SMA including Infibeam Avenues Ltd. (44.30, 8.45%) and Kalpataru Power Transmissions Ltd. (410.05, 5.41%). 23 stocks slipped below their 200 SMA including Firstsource Solutions Ltd. (167.15, -6.20%) and Info Edge (India) Ltd. (5,345.45, -5.43%).