Trendlyne Analysis

Indian markets slumped today. Nifty 50 closed at 17,617.15 (-139.9, -0.8%) , BSE Sensex closed at 59,037.18 (-427.4, -0.7%) while the broader Nifty 500 closed at 15,180.80 (-180.3, -1.2%)

Market breadth is overwhelmingly negative. Of the 1,850 stocks traded today, 366 were on the uptrend, and 1,467 went down.

• Sanofi India, Godrej Agrovet, Procter & Gamble Health, and Pfizer are trading with higher volumes as compared to Thursday.

• Shoppers Stop hits a 52-week high of Rs 425 after net profits return to black in Q3FY22. The company reports a net profit of Rs 77.3 crore with revenues increasing 35% YoY to Rs 1,070 crore owing to high demand in the festive season. EBITDA margins improve 580 bps YoY to 19.2% driven by stringent cost controls and rising e-commerce sales by 39%.

• Hindustan Zinc's Q3FY22 net profit rises 23% YoY to Rs 2,701 crore, revenue from operations rises 32% YoY to Rs 7,990 crore and EBITDA rises 33% YoY to Rs 4,392 crore. Increase was mainly driven by higher volumes and higher prices.

• HDFC Securities maintains a 'Reduce' rating on Tata Elxsi despite the company posting robust revenue growth of 6.7% QoQ led by the embedded product design segment. The brokerage believes that the current valuation (P/E) of 52X the FY24 earnings is way ahead of its earnings growth expectation of 31% between FY21-24E.

• AGS Transact Technologies’ Rs 680-crore IPO gets bids for 7.79X of the available 2.86 crore shares on offer on the last day of bidding. Retail investors quota of 1.43 crore shares is oversubscribed by 3X. The IPO is entirely an offer for sale by selling shareholders.

• PNB Housing Finance’s Chief Financial Officer Kapish Jain resigns from the company. His resignation is effective from April 7, 2022

• Biocon's Q3FY22 net profit rises 10.7% YoY to Rs 187 crore and revenues by 18% to Rs 2,223 crore. The biosimilars segment, led by its subsidiary Biocon Biologics, posts 28% YoY revenue growth which helps overall earnings growth.

• Havells's Q3FY22 net profit falls 12.6% YoY to Rs 305.8 crore whereas revenues rise 15.4% to Rs 3,713 crore. Cables and wires segment leads revenue growth in Q3 backed by strong festive demand. Margins for Lloyd and the consumer durables segment fall in Q3 due to high input cost inflation inturn impacting bottomline.

• Hitachi Energy India is trading with more than four times its weekly average trading volume. CreditAccess Grameen, CCL Products India, Kaveri Seed Company, and Max Healthcare Institute are trading at more than three times their weekly average trading volumes.

• ICICI Securities maintains ‘Hold’ on PNB Housing Finance with an unchanged target price of Rs 485. The company's net profit fell 19% YoY to Rs 188 crore as net interest margins fall 50 bps YoY to 2.7%. The company’s loan disbursements fell 12% YoY and AUM shrunk 14.4% YoY to Rs 66,539 crore. The brokerage, however, expects an increase in retail loan disbursements, and a further reduction in credit costs to help the company improve its asset quality FY22-24.

• Mphasis’ Q3FY22 net profit rises 4.8% QoQ to Rs 357.7 crore, while revenue from operations grew 8.9% QoQ to Rs 3,123.7 crore. The company signs four large deals in the quarter, with largest deal being $92 million.

• Hindustan Unilever's Q3FY22 net profit rises 18.6% YoY to Rs 2,297 crore and revenues by 10.3% to Rs 13,499 crore. Double-digit YoY sales growth of 23% in the home care segment as well as a 454 bps improvement in the EBIT margin of food and refreshments segment help the company's earnings grow in Q3.

• Asian Paints’ Q3FY22 net profit falls 18% YoY to Rs 1,015.7 crore on account of rising raw material costs and expenses. The company’s expenses increase 38.4% YoY to Rs 7,220 crore. However, the revenues were up 26% YoY to Rs 8,527 crore as revenues from the home improvement segment grew 36.42% YoY to Rs 209.2 crore in Q3FY22.

Riding High:

Largecap and midcap gainers today include Biocon Ltd. (377.10, 3.54%), Bajaj Auto Ltd. (3,419.80, 3.36%) and Ajanta Pharma Ltd. (2,213.95, 2.87%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (2,510.85, -6.35%), Zee Entertainment Enterprises Ltd. (289.35, -6.19%) and L&T Technology Services Ltd. (4,810.40, -6.04%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Hitachi Energy India Ltd. (3,030.75, 7.41%), CreditAccess Grameen Ltd. (617.35, 6.09%) and Linde India Ltd. (2,774.35, 5.65%).

Top high volume losers on BSE were Kajaria Ceramics Ltd. (1,267.20, -5.96%), Container Corporation of India Ltd. (623.60, -5.58%) and Havells India Ltd. (1,241.55, -5.25%).

Hindustan Zinc Ltd. (326.00, 1.18%) was trading at 7.7 times of weekly average. Jyothy Labs Ltd. (139.80, -0.53%) and CCL Products India Ltd. (460.90, 3.83%) were trading with volumes 4.9 and 4.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks overperformed with 52-week highs, while 9 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (2,066.80, 1.33%), Greaves Cotton Ltd. (233.50, -6.47%) and Power Grid Corporation of India Ltd. (215.10, 0.21%).

Stocks making new 52 weeks lows included - Cadila Healthcare Ltd. (410.40, -1.91%) and Indraprastha Gas Ltd. (425.10, -2.34%).

8 stocks climbed above their 200 day SMA including Biocon Ltd. (377.10, 3.54%) and India Tourism Development Corporation Ltd. (390.05, 2.52%). 31 stocks slipped below their 200 SMA including PTC India Ltd. (94.45, -6.02%) and Container Corporation of India Ltd. (623.60, -5.58%).