Market closes lower, Adani Wilmar’s IPO gets oversubscribed by 1.13X of total shares on offer on Day 2

Trendlyne Analysis

Nifty 50 closed at 17,101.95 (-8.2, -0.1%) , BSE Sensex closed at 57,200.23 (-76.7, -0.1%) while the broader Nifty 500 closed at 14,723.25 (43.6, 0.3%)

Market breadth is in the green. Of the 1,847 stocks traded today, 1,125 were gainers and 692 were losers.

Indigo Paints, Bajaj Holdings & Investment, Kansai Nerolac Paints, and TTK Prestige are trading with higher volumes as compared to Thursday.
Honeywell and Navin Fluorine International partner up to manufacture hydrofluoroolefins in India. Production is scheduled to commence by Q2CY22 at manufacturing facility in Gujarat.
Adani Wilmar’s Rs 3,600-crore IPO gets bids for 1.13X of the available 12.25 crore shares on offer on the second day of bidding. Retail investors quota of 5.03 crore shares gets oversubscribed by 1.85 times the shares on offer. The IPO entirely comprises of a fresh issue of equity shares.
Zomato is set to acquire 19.48% stake in an adtech company AdOnMo for Rs 112.3 crore so as to boost new customer acquisitions. It will also buy 5% stake in a B2B Saas based company UrbanPiper Technology for Rs 37.4 crore. Additionally, Zomato seeks to form a NBFC which will operate as its subsidiary.
KPR Mill surges in trade as its board will mull a buyback of equity shares in its meeting to be held on February 7, 2022. The board will also take up for approval the company's Q3FY22 results in the same meeting.
Heidelberg Cement India is trading with more than six times its weekly average trading volume. Godfrey Phillips India, LIC Housing Finance, Route Mobile, and Vaibhav Global are trading at more than three times their weekly average trading volumes.
C. E. Info Systems falls as Q3FY22 profit after tax declines 14% YoY to Rs 18.5 crore and revenue from operations falls 11% YoY to Rs 43.37, with EBITDA margins of 39%.
Larsen and Toubro's arm Larsen and Toubro Hydrocarbon Engineering receives an offshore contract worth Rs 2,500-5,000 crore from Oil & Natural Gas Corporation for the seventh development phase of their pipeline replacement projects. The contract involves engineering, procurement, construction, installation, and commissioning of 350 kms subsea pipelines among other things.
Canara Bank’s Q3FY22 net profit jumps 2X YoY to Rs 1,502 crore as net interest income (NII) rises and provisions fall. NII rises 14% YoY to Rs 6,946 crore with net interest margin rising marginally by 4 bps YoY to 2.83%. Provisions fall 35.56% YoY to Rs 2,946 crore, while gross NPA stands at 7.80%, down 34 bps YoY. Net NPA for Q3 is at 2.86%, down 22 bps YoY.
TVS Motor falls on the bourses after it announces the acquisition of a 75% stake in the electric bike maker Swiss E-Mobility Group for nearly Rs 487 crore. The company seeks to strengthen its presence in the electric personal mobility segment in Europe and other developed markets
Bharti Airtel’s board approves issuance of 7.1 crore equity shares at a price of Rs 734 per share (Rs 5,224.38 crore) to Google International on a preferential basis, subject to approvals from regulators. Google intends to invest a total of $1 billion in Bharti Airtel as a part of its Google for India Digitization Fund to work on improving Airtel’s scaling of business, enhancing connectivity and access to smartphones.

Riding High:

Largecap and midcap gainers today include LIC Housing Finance Ltd. (383.15, 10.90%), Laurus Labs Ltd. (499.80, 7.55%) and Coforge Ltd. (4,713.25, 7.10%).

Downers:

Largecap and midcap losers today include TVS Motor Company Ltd. (601.95, -4.43%), Maruti Suzuki India Ltd. (8,550.95, -3.05%) and IDBI Bank Ltd. (48.50, -2.90%).

Movers and Shakers

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

Top high volume gainers on BSE included LIC Housing Finance Ltd. (383.15, 10.90%), Route Mobile Ltd. (1,609.20, 7.60%) and Laurus Labs Ltd. (499.80, 7.55%).

Top high volume losers on BSE were Mahindra Logistics Ltd. (587.40, -10.98%), Vaibhav Global Ltd. (464.50, -8.31%) and Finolex Industries Ltd. (170.05, -5.42%).

Heidelberg Cement India Ltd. (221.60, 0.07%) was trading at 7.2 times of weekly average. Godfrey Phillips India Ltd. (1,135.55, 3.79%) and Eris Lifesciences Ltd. (696.20, -2.04%) were trading with volumes 5.0 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52-week highs, while 4 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Lakshmi Machine Works Ltd. (11,049.75, -1.54%), Oil And Natural Gas Corporation Ltd. (168.80, 1.87%) and TV18 Broadcast Ltd. (58.95, 0.77%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (746.05, 1.36%) and Vaibhav Global Ltd. (464.50, -8.31%).

31 stocks climbed above their 200 day SMA including Mangalore Refinery And Petrochemicals Ltd. (46.50, 7.14%) and Coforge Ltd. (4,713.25, 7.10%). 19 stocks slipped below their 200 SMA including Mahindra Logistics Ltd. (587.40, -10.98%) and Finolex Industries Ltd. (170.05, -5.42%).