Market closes lower, Indigo posts a profit of Rs 129.8 crore in Q3FY22, first time after Q3FY20

Trendlyne Analysis

Nifty 50 closed in the red with the Indian Volatility Index or India VIX rising 8% amid weak global cues as investors continue to keep track of the geopolitical situation in Ukraine. The US Federal Reserve FOMC and India's Reserve Bank of India's MPC meets are key triggers that investors are waiting on. Nifty PSU Bank index gave up most of its gains despite good Q3 earnings from State Bank of India. Nifty IT index traded lower throughout the day in line with NASDAQ 100 futures. Nifty Metal ended flat after heavy selling pressure at the end of the trading session. Only Nifty Energy and Nifty PSU Bank indices outperformed the broader markets to finish in the green.

Nifty 50 closed at 17,213.60 (-302.7, -1.7%) , BSE Sensex closed at 57,621.19 (-1023.6, -1.8%) while the broader Nifty 500 closed at 14,870.60 (-214.9, -1.4%) Market breadth is moving down. Of the 1,900 stocks traded today, 603 were on the uptrend, and 1,260 went down.

EPL, Procter & Gamble Hygiene & Healthcare, ICICI Lombard General Insurance, and AIA Engineering are trading with higher volumes as compared to Friday.
The New India Assurance Company is falling, after its gross written premium for January 2022 (GWP) decreases 9.4% YoY to Rs 2,239 crore. Its listed peer ICICI Lombard’s GWP rose 26.2% YoY to Rs 1,799 crore, but its stock is in the red during trade today.
Vedant Fashions’ Rs 3,149.2-crore IPO gets bids for 21% of the available 3.64 crore shares on offer on the second day of bidding. Retail investors quota of 1.28 crore shares is subscribed around 31%. The IPO is entirely an offer for sale by selling shareholders
Narayana Hrudayalaya is rising as its Q3FY22 profit jumps 2.4 times YoY to Rs. 97 crore and revenues rise 28% to Rs. 966 crore.
Edelweiss maintains a 'BUY' rating on Astral with a target price upside of 15%. The brokerage is positive on the company after it posted revenue growth of over 20% YoY and its net profit grew 3.2% YoY despite other PVC pipe players reporting a fall in their Q3 profits. Edelweiss also expects Astral to post 15% earnings CAGR in FY22-24
Interglobe Aviation is rising as it reports a profit of Rs 129.8 crore compared to a loss of Rs 626.6 crore in Q3FY21. This is the first time since Q3FY20 the company posted a quarterly profit. Revenues in Q3FY22 rise 89.3% YoY to Rs 9,295 crore and 65.73% QoQ
Ujjivan Financial Services is trading with more than 16 times its weekly average trading volume. Gujarat Narmada Valley Fertilizers & Chemicals, FDC, Tata Teleservices (Maharashtra), and Jubilant Pharmova are trading at more than seven times their weekly average trading volumes.
Affle (India) is rising as its Q3FY22 net profits surge 2X YoY to Rs 62 crore. Revenue from operations rise 125.5% to Rs 339.4 crore as revenue contribution from international clients increases to 50.3% from 48.8%. EBITDA grew 76% YoY to Rs 67.7 crore. Its main cost per converted user (CPCU) business grew 1.4X YoY in revenues to Rs 303 crore.
City Union Bank's Q3FY22 net profit rises 15.4% YoY to Rs 196.1 crore mainly due to lower provisioning. Net Interest Income rises marginally by 1% YoY to Rs 4,900 crore and advances rise 5% YoY to Rs 38,400 crore. Net NPAs rise sharply from 1.47% to 3.44% on a YoY basis in Q3FY22.
One97 Communications (Paytm) is falling (but recoups losses) as its Q3FY22 loss widens to 778.5 crore, mainly due to higher ESOPs costs. Revenues rise 88% YoY to Rs 1,456 crore driven by an increase in merchant payments processed through MDR (merchant discount rate) bearing instruments (Paytm Wallet, Paytm Payments Bank account, other banks' net banking, debit and credit cards), disbursements of loans on the platform, and recovery of commerce business from Covid impact.
Tata Steel's Q3FY22 net profit rises 159% YoY to Rs 9,572.7 crore and revenues rise 53.5% YoY to Rs 60,842.7 crore. Higher realizations backed by rise in steel prices drive the earnings growth on an YoY basis. However, the profit falls 20% sequentially due to higher coking coal costs and flat revenues.
Bayer Cropscience posts a profit of Rs 84.8 crore in Q3FY22 compared to a loss of Rs 45.1 crore. Revenues rose 6.7% YoY to around Rs 1,000 crore. The profits we boosted by a profit of Rs 58.5 crore from the sale of its seed business to Crystal Crop Protection.
SBI’s Q3FY22 net profit rises 62.3% YoY to Rs 8,432 crore with NII rising 6.5% YoY to Rs 30,687 crore. Gross NPAs drop 27 bps YoY to 4.5%, however, net NPAs rose 11 bps YoY to 1.34% as provisions for bad loans rose 35% to Rs 3,096 crore. The bank’s advances grew 8.47% YoY to Rs 26.6 lakh crore with foreign advances growing the highest by 22.3% in Q3FY22.

Riding High:

Largecap and midcap gainers today include InterGlobe Aviation Ltd. (2,170.10, 9.91%), Bank of Baroda (112.95, 6.01%) and Adani Green Energy Ltd. (2,024.65, 3.81%).

Downers:

Largecap and midcap losers today include Torrent Power Ltd. (524.10, -9.69%), Lupin Ltd. (804.70, -7.74%) and Apollo Hospitals Enterprise Ltd. (4,475.15, -4.54%).

Volume Shockers

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

Top high volume gainers on BSE included Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (515.55, 13.26%), CreditAccess Grameen Ltd. (728.95, 11.16%) and InterGlobe Aviation Ltd. (2,170.10, 9.91%).

Top high volume losers on BSE were Jubilant Pharmova Ltd. (489.20, -7.09%), Radico Khaitan Ltd. (947.75, -3.05%) and Max Healthcare Institute Ltd. (349.50, -2.58%).

FDC Ltd. (306.00, 3.99%) was trading at 11.3 times of weekly average. Tata Teleservices (Maharashtra) Ltd. (172.20, 5.00%) and Gujarat State Fertilizer & Chemicals Ltd. (132.60, 2.55%) were trading with volumes 7.7 and 7.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Bank of Baroda (112.95, 6.01%), Cholamandalam Investment & Finance Company Ltd. (650.10, -3.79%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (620.80, -5.00%).

Stocks making new 52 weeks lows included - Gillette India Ltd. (5,091.00, -0.52%) and Lupin Ltd. (804.70, -7.74%).

12 stocks climbed above their 200 day SMA including Hatsun Agro Products Ltd. (1,134.40, 4.55%) and Ratnamani Metals & Tubes Ltd. (2,122.60, 4.01%). 22 stocks slipped below their 200 SMA including KIOCL Ltd. (244.80, -5.13%) and Welspun India Ltd. (123.40, -4.53%).