Trendlyne Analysis

Market sinks in today's trading. Nifty 50 closed at 17,938.40 (-174.7, -1.0%) , BSE Sensex closed at 60,098.82 (-656.0, -1.1%) while the broader Nifty 500 closed at 15,472.50 (-100.6, -0.7%)

Market breadth is in the red. Of the 1,851 stocks traded today, 799 were gainers and 1,029 were losers

• IIFL Wealth Management, Sanofi India, Cholamandalam Financial Holdings, and Pfizer are trading with higher volumes as compared to Tuesday.

• ICICI Securities' Q3FY22 net profit jumps 43% YoY to Rs 383 crore and revenues rise 52% YoY to Rs 942 crore. Robust sales growth in mutual fund distribution, private wealth management and IPO issuer services segments aids the overall earnings growth in Q3.

• ICICI Securities upgrades rating for ICICI Prudential Life Insurance to ‘Buy’ from ‘Add’ with a target price upside of 18.4%. The company's Q3FY22 net profit is up by 1.6% YoY to Rs 311 crore and value of new business premiums increase by 20% YoY to Rs 515 crore. This led to the upgrade from the brokerage which expects the company's annual premium equivalent to rise 23% in FY23 as the company optimises its product mix away from ULIPs.

• AGS Transact Technologies’ Rs 680-crore IPO gets bids for 88% of the available 2.86 crore shares on offer on the first day of bidding. Retail investors quota of 1.43 crore shares is oversubscribed by 1.32X. The IPO is entirely an offer for sale by selling shareholders

• Indraprastha Gas is falling for three consecutive sessions, and touched a 52-week low during trade. The stock is falling after the Devli governments new aggregators policy imposes minimum electric vehicle requirements in fleets of cab aggregators and delivery services. This poses a threat to growth in CNG vehicles in Delhi.

• Tata Elxsi's Q3FY22 net profit jumps 43.5% YoY to Rs 151 crore and revenues rise 33% YoY to Rs 635.4 crore. Robust sequential growth of 10% in Embedded Product Design segment in turn led by transportation and healthcare sub-divisions drive overall revenue growth for the company.

• DCM Shriram is trading with more than 13 times its weekly average trading volume. Tata Elxsi, Elgi Equipments, L&T Technology Services, and Bajaj Finance India are trading at more than four times their weekly average trading volumes.

• L&T Technology Services' Q3FY22 net profit jumps 34% YoY to Rs 249 crore and revenues rise 20% YoY to Rs 1,688 crore. Robust sequential growth in telecom & hi-tech and transportation segments lead to a gross margin expansion of 300 bps and over 30% earnings growth in Q3. The company also announces an interim dividend of Rs 10 per share.

• Rakesh Jhunjhunwala sells 0.81% stake in Jubilant Ingrevia in Q3FY22 bringing his holding down to 4.72% in the company. He ups his stake in Tata Motors by 0.07% increasing his holding to 1.18% at the end of Q3 FY22.

• Reliance Industries’ telecom arm Reliance Jio pays Rs 30,791 crore to the Department of Telecom to clear its spectrum liabilities for airwaves bought in auctions held before 2021. The company will save Rs 1,200 crore per year on the interest component owing to this prepayment.

• Bajaj Finance’s Q3FY22 net profit rises 85.5% YoY to Rs 2,125 crore as net interest income is up 40% YoY to Rs 6,000 crore. The assets under management is up 26% YoY to Rs 1.81 lakh crore. There is no negative impact of RBI’s new NPA classification norms as the company’s gross NPAs fell 72 bps QoQ to 1.73% during the quarter.

• AGS Transact Technologies raises Rs 204 crore by selling 1.16 crore shares at Rs 175 per share to 17 anchor investors ahead of its IPO. The investors include BNP Paribas Arbitrage – ODI, Ashoka India Equity Investment Trust, Kuber India Fund, Saint Capital Fund, Tara Emerging Asia Liquid Fund, Cohesion MK Best Ideas, and Authum Investment and Infrastructure, among others.

Riding High:

Largecap and midcap gainers today include Tata Elxsi Ltd. (6,977.25, 9.42%), Biocon Ltd. (367.35, 5.35%) and Tata Power Company Ltd. (248.50, 3.93%).

Downers:

Largecap and midcap losers today include L&T Technology Services Ltd. (5,077.55, -6.33%), Info Edge (India) Ltd. (5,016.70, -6.15%) and ICICI Prudential Life Insurance Company Ltd. (573.80, -5.62%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Dilip Buildcon Ltd. (386.85, 11.58%), Tata Elxsi Ltd. (6,977.25, 9.42%) and DCM Shriram Ltd. (1,094.75, 8.14%).

Top high volume losers on BSE were Sterlite Technologies Ltd. (249.15, -7.47%), L&T Technology Services Ltd. (5,077.55, -6.33%) and Info Edge (India) Ltd. (5,016.70, -6.15%).

Elgi Equipments Ltd. (373.85, 6.49%) was trading at 6.8 times of weekly average. Bajaj Finance Ltd. (7,571.80, -2.22%) and Zensar Technologies Ltd. (474.00, -0.25%) were trading with volumes 5.6 and 5.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52-week highs, while 6 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (482.85, 3.68%), Lakshmi Machine Works Ltd. (10,950.90, 5.45%) and Sobha Ltd. (1,022.25, 6.22%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (438.60, -3.25%) and Zydus Wellness Ltd. (1,789.35, -1.78%).

13 stocks climbed above their 200 day SMA including GAIL (India) Ltd. (147.95, 3.53%) and Rallis India Ltd. (295.25, 2.93%). 29 stocks slipped below their 200 SMA including Info Edge (India) Ltd. (5,016.70, -6.15%) and ICICI Prudential Life Insurance Company Ltd. (573.80, -5.62%).