Trendlyne Analysis

The market closed on an upbeat note. Nifty 50 closed at 17,339.85 (237.9, 1.4%) , BSE Sensex closed at 58,014.17 (813.9, 1.4%) while the broader Nifty 500 closed at 14,921.45 (198.2, 1.4%)

Market breadth is in the green. Of the 1,897 stocks traded today, 1,015 were gainers and 849 were losers.

• CSB Bank, Emami, Ratnamani Metals & Tubes and Zydus Wellness are trading with higher volumes as compared to Friday

• Morgan Stanley maintains an 'Overweight' rating on BPCL and raises the target price by 2.4% to Rs 512. The brokerage expects the company's earnings to grow at a CAGR of 24% from FY22-24 on improving refining margins due to higher fuel demand and a pick-up in global air travel. It also feels the company is trading at attractive valuations.

• IndusInd Bank's Q3FY22 profit rises 36% YoY to Rs 1,161 crore as Net Interest Income rises by 11.4% YoY to Rs 3,794 crore and provisions fall. However, the stock is falling as the management admits to the procedural lapses in its microfinance institution--Bharat Financial Inclusion.

• Adani Wilmar’s Rs 3,600-crore IPO gets bids for 6.87X of the available 12.25 crore shares on offer on the final day of bidding. Retail investors quota of 5.03 crore shares gets bids for 3.27 times the shares on offer. The IPO entirely comprises of a fresh issue of equity shares.

• UPL's Q3FY22 net profit rises 36.93% YoY to Rs 634 crore and total revenue rises 15.46% to Rs 10,614 crore. The company's EBITDA margin is at 23.6%, down by 61 basis points YoY.

• Reliance Industries' rises as CLSA upgrades its rating to 'Buy' and raises the target price to Rs 2,955. The brokerage sees the company as a good entry point for multiple big India themes across various sectors. The company's retail business' improvement also holds it in good stead to become a dominant online and offline player.

• Blue Dart Express's Q3FY22 net profit rises 29.48% to Rs 123.4 crore and total revenue rises 21.71% to Rs 1,269.1 crore. The company also approves interim dividend of Rs 25 per share for FY22.

• AGS Transact Technologies’ shares list flat at a 0.9% premium to the issue price of Rs 175 on its debut on the bourses after getting bids for 8.22X of total shares on offer

• NTPC's Q3FY22 net profit rises 19.4% YoY to Rs 4,498.6 crore and revenues rise 19% YoY Rs 33,783.62 crore led by higher electricity generation. The company also approves interim dividend for FY22 at Rs 4 per share.

• Eris Lifesciences' Q3FY22 net profit rises 11.8% YoY to Rs 100.8 crore and revenues rise 7% YoY to Rs 337.3 crore. Double-digit growth of 15.5% YoY in the its flagship cardio-metabolic segment drives the earnings growth in Q3

• Vedanta's Q3FY22 net profit rises 27% YoY to Rs 4,189 crore and revenue rises 50% YoY to Rs 33,697 crore. The company's EBITDA margin is at 37%, down 8% YoY

• Britannia's Q3FY22 net profit falls 18.6% YoY to Rs 371.2 crore despite its revenues rising 12.9% YoY to Rs 3,630 crore. A 20% spike in commodity prices and higher fuel costs leads to a double-digit earnings fall in Q3

• Larsen & Toubro's Q3FY22 net profit falls 16.7% YoY to Rs 2,054.7 crore and revenue rises 11% YoY to Rs 39,563 crore. The company receives orders worth Rs 50,359 crore, down 31% YoY

Riding High:

Largecap and midcap gainers today include Info Edge (India) Ltd. (4,900.80, 11.23%), MindTree Ltd. (4,006.30, 7.57%) and Larsen & Toubro Infotech Ltd. (6,270.35, 6.07%).

Downers:

Largecap and midcap losers today include IndusInd Bank Ltd. (872.10, -3.48%), Atul Ltd. (9,559.75, -3.18%) and Relaxo Footwears Ltd. (1,231.00, -3.17%).

Volume Rockets

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

Top high volume gainers on BSE included Amber Enterprises India Ltd. (3,610.05, 13.16%), MMTC Ltd. (61.10, 9.89%) and Chalet Hotels Ltd. (258.55, 9.83%).

Lemon Tree Hotels Ltd. (51.80, 7.02%) was trading at 10.2 times of weekly average. The New India Assurance Company Ltd. (143.95, 3.97%) and EIH Ltd. (140.55, 3.08%) were trading with volumes 4.2 and 4.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks took off, crossing 52-week highs, while 4 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Bank of Baroda (107.55, 4.11%), Canara Bank (252.95, 5.88%) and IDFC Ltd. (64.70, 1.01%).

Stocks making new 52 weeks lows included - HDFC Life Insurance Company Ltd. (622.45, 0.32%) and Mas Financial Services Ltd. (490.15, -1.85%).

26 stocks climbed above their 200 day SMA including Amber Enterprises India Ltd. (3,610.05, 13.16%) and APL Apollo Tubes Ltd. (864.30, 6.60%). 7 stocks slipped below their 200 SMA including UTI Asset Management Company Ltd. (897.70, -7.17%) and Infibeam Avenues Ltd. (44.05, -5.67%).