Market closes lower, Galaxy Surfactants Q3 profit dips 46.5% YoY

Trendlyne Analysis

Nifty 50 closed in the red shedding 3% with the Indian Volatility index, India VIX surging 23% amid weak global cues. Most Asian indices traded sharply lower with fears of a possible Russian invasion of Ukraine sending crude oil prices to a seven-year high.

Nifty PSU Bank plunged close to 6% while Nifty Metal and Nifty Realty extended their losses and closed in the red. Nifty Next 50 and Nifty Smallcap 100 traded sharply lower throughout the day, underperforming the benchmark index to end the trading session in the red. Nifty IT, which traded higher than Friday’s closing levels at one point during the day, lost its gains amid selling pressure to close lower.

Nifty 50 closed at 16,842.80 (-532.0, -3.1%) , BSE Sensex closed at 56,405.84 (-1,747.1, -3%) while the broader Nifty 500 closed at 14,400.40 (-490.9, -3.3%)

Market breadth is highly negative. Of the 1,894 stocks traded today, 138 were gainers and 1,746 were losers.

Poly Medicure, Great Eastern Shipping Company, AIA Engineering, and Johnson Controls-Hitachi Air Conditioning India are trading with higher volumes as compared to Friday.
Metropolis Healthcare is falling as its Q3FY22 profit falls 29.7% YoY to Rs 41.2 crore despite a 6.2% increase in revenue to Rs 295.6 crore as EBITDA margin falls 550 bps to 26.5%. While non-Covid revenues rise by 9% YoY to 243.7 crore, Covid related revenue falls 3% to Rs 49.4 crore
Voltas’s Q3FY22 profit dips 25% YoY to Rs 96.5 crore on a 10% fall in revenues to Rs 1,994.6 crore. Muted demand and the impact of the third wave of the pandemic on trade and consumer sentiment causes revenue and profit to fall
PNC Infratech’s Q3FY22 profit dips 53% YoY to Rs 82 crore on the cost of materials rising 15.6% YoY. This pushes the company’s margins down despite revenues rising 7.5% YoY to Rs 1,739.4 crore.
Max Healthcare Institute’s Q3FY22 profit jumps 2.1 times YoY to Rs 189.8 crore despite a revenue increase of 22.5% to Rs 1,022 crore. EBITDA margins rise by 440 bps YoY to 27.6% as the number of non-Covid related surgeries return to pre-Covid levels
Novartis India is falling as it enters into an exclusive sales and distribution agreement of its established medicines with Dr. Reddy's Laboratories. The established medicines include Voveran range, calcium range, and Methergine which account for approximately 50% of its FY21 product sales. This agreement leads to the separation of approximately 400 associates of Novartis India
Galaxy Surfactants Q3FY22 profit dips 46.5% YoY to Rs 45.6 crore despite revenue rising 37.3% YoY to Rs 930.9 crore. The supply-driven volatility that impacted their Q2 performance continued in Q3 as well, rising input costs and supply chain constraints severely impacted the company’s operations.
Promoter entity Sundaram-Clayton sells 95 lakhs shares or 2% stake in TVS Motor Company at an average price of Rs 635.97 in a bulk deal on Friday. The group now holds 50.26% stake in the company.
Uflex is trading with more than 20 times its weekly average trading volume. Metropolis Healthcare, KBRL and Capri Global Capital are trading at more than five times their weekly average trading volumes
Sobha's Q3FY22 net profits jumps 57% YoY to Rs 33 crore and revenues fall marginally by 2% YoY to Rs 668 crore. The realty company sees its pre-sale volumes grow by 17% YoY to 1.32 million sqft and its cash collections from real estate operations rise 26.5% to Rs 840 crore in Q3.
TCS is rising after it fixes the record date for its Rs 18,000 crore shares buyback as February 23, 2022. The company will offer Rs 4,500 per share for eligible shareholders as a part of its buyback program.
Apollo Hospitals is rising as its Q3FY22 profit rises 75% YoY to Rs 228.4 crore. Revenues increase by 32% to Rs 3,656 crore mainly driven by a strong revival of non-COVID business, with volumes reaching pre-Covid levels, despite holiday seasonality
Muthoot Finance’s Q3FY22 net profit rises 4% YoY to Rs 1,043.6 crore with interest income increasing by 5% YoY to Rs 3,086 crore. Gross AUM rose 9% YoY to Rs 54,678.6 crore with gold loan AUM increasing 9.2% YoY to Rs 54,215 crore. The NBFC also sees an increase in the number of loan accounts by 6% YoY (85.2 lakh new accounts).
ONGC’s Q3FY22 profit rises nearly seven-fold YoY to Rs 8,764 crore on higher oil and gas prices offset a drop in production. Revenue jumps 64% YoY to Rs 29,964.5 crore. The company got $75.73 for every barrel of crude oil produced and sold in Q3FY22 as compared to $43.20 a barrel in Q3FY21, and gas prices rose to $2.90 per British thermal unit in Q3FY22 compared to $1.79 in Q3FY21.
Reliance Industries plans to produce blue hydrogen at a competitive cost of $1.2-1.5 per kilogram. It is planning to re-purpose an oil refinery worth Rs 30,000 crore that currently is producing synthesis gas at Jamnagar. The company wants to be the first in establishing a hydrogen ecosystem, with minimal investment, till the cost of green hydrogen comes down.

Riding High:

Largecap and midcap gainers today include Cummins India Ltd. (953.65, 1.58%), Ruchi Soya Industries Ltd. (832.80, 1.17%) and Tata Consultancy Services Ltd. (3,733.75, 1.05%).

Downers:

Largecap and midcap losers today include Adani Power Ltd. (113.35, -9.32%), LIC Housing Finance Ltd. (358.60, -8.20%) and InterGlobe Aviation Ltd. (2,092.30, -7.62%).

Volume Rockets

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

Top high volume gainers on BSE included Uflex Ltd. (551.50, 8.25%), Sequent Scientific Ltd. (155.20, 6.48%) and Hawkins Cookers Ltd. (5,772.05, 3.13%).

Top high volume losers on BSE were Metropolis Healthcare Ltd. (2,051.30, -15.29%), Mahindra Logistics Ltd. (426.10, -12.94%) and KRBL Ltd. (200.70, -12.07%).

Ruchi Soya Industries Ltd. (832.80, 1.17%) was trading at 15.4 times of weekly average. Capri Global Capital Ltd. (580.40, 1.04%) and Bharat Dynamics Ltd. (463.80, 2.58%) were trading with volumes 11.9 and 8.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks hit their 52-week highs, while 38 stocks hit their 52-week lows.

Stocks touching their year highs included - Oil And Natural Gas Corporation Ltd. (166.20, -1.16%) and RHI Magnesita India Ltd. (494.00, 1.64%).

Stocks making new 52 weeks lows included - Amara Raja Batteries Ltd. (577.30, -4.99%) and Bajaj Consumer Care Ltd. (167.70, -2.95%).

2 stocks climbed above their 200 day SMA including Uflex Ltd. (551.50, 8.25%) and Sun TV Network Ltd. (516.70, -0.22%). 57 stocks slipped below their 200 SMA including Indiabulls Real Estate Ltd. (124.45, -10.47%) and Hindustan Copper Ltd. (126.00, -9.25%).