Trendlyne Analysis

Indian indices ended the day in red, gyrating between gains and losses throughout the trading session. Investors continue to be indecisive on the Russia-Ukraine geopolitical situation as NATO seeks proof from Russia of its military pullback across the Ukrainian border. The European Union also urged Russia to take concrete steps to de-escalate the tensions around Ukraine.

Nifty Smallcap 100 traded in green throughout the day outperforming the benchmark index to settle higher. Nifty Metal, which opened in the green, gave up all its gains to close in the red. Nifty IT ended the day in red amidst selling pressure in the last hour of the trading session.

Nifty 50 closed at 17,322.20 (-30.3, -0.2%) , BSE Sensex closed at 57,996.68 (-145.4, -0.3%) while the broader Nifty 500 closed at 14,789.90 (-15.7, -0.1%)

Market breadth is in the green. Of the 1,862 stocks traded today, 1,150 were on the uptrend, and 675 went down.

• Star Cement, Carborundum Universal, Procter & Gamble Hygiene & Healthcare, and Cipla are trading with higher volumes as compared to Tuesday.

• HDFC Securities maintains a ‘Buy’ rating on Galaxy Surfactants with a target price of Rs 3,430, indicating an upside of 21.6%. The brokerage is bullish on the company because it has a stable EBITDA margin, as it can pass on fluctuations in raw material prices to customers and over 50% of the company’s revenue mix comes from MNCs.

• Edelweiss maintains a ‘BUY’ rating on Max Healthcare Institute with a target price of Rs 470 with an upside of 26%. The brokerage remains positive on the company as its average revenue per occupied bed (ARPOB) in Q3FY22 rises 19.1% YoY to Rs 61,000, with 99% of the hospital’s total operating beds used for non-Covid patients

• ICICIDirect maintains a 'BUY' rating on Indraprastha Gas with a target price upside of 22%. The brokerage is positive on the company as it posted a robust revenue growth of over 50% YoY in Q3 backed by higher sales volumes and higher than estimated profits. ICICIDirect sees an earnings CAGR of 11% for IGL between FY22-24 led by national shift towards cleaner forms of fuel.

• CRISIL is trading with more than 13 times its weekly average trading volume. Mahindra & Mahindra Financial Services, Motilal Oswal Financial Services, KSB, and Westlife Development are trading at more than five times their weekly average trading volumes.

• Sterling and Wilson Renewable Energy in Q3FY22 posts a loss of Rs 422.2 crore, despite revenue from operations rising 14% YoY to Rs 1,494.86 crore. The loss is attributed to a disruption in construction activities leading to higher construction costs and overheads causing liquidity challenges that hurt its Q3 performance.

• RailTel's Q3FY22 net profit falls by 4% to Rs 66.3 crore despite revenues rising by 2% to Rs 410.7 crore. RailTel witnesses weakness in both its telecom and project works division and the net profit fall is cushined only due to higher other income in Q3.

• SpiceJet in Q3FY22 posts a profit of Rs 42.5 crore, its first in seven quarters. Revenue from operations rises 33.8% YoY to Rs 2,263 crore on a rebound in passenger traffic this quarter and excellent logistics operations. A gain of Rs 57.9 crore as other income due to compensation from Boeing for 737 MAX helps boost Q3 profit.

• Tech Mahindra (Singapore) Pte, a wholly-owned subsidiary of Tech Mahindra, acquires 80% equity worth 6 million Australian dollars (about Rs 32 crore) in Geomatic.ai, an Australian energy and utilities company. With this acquisition, Tech Mahindra plans to create a next-generation Artificial Intelligence (AI) firm to focus on building a digital platform for linear assets leveraging cloud, drone, and mobility technologies in the geospatial domain.

• Vedant Fashions’ shares list at an 8% premium to the issue price of Rs 866 on its debut on the bourses after getting bids for 2.6X of total shares on offer.

• NBCC’s Q3FY22 profit dips 10% YoY to Rs 87.03 crore and revenues fall 4% YoY to Rs 2,056.31 crore. Unfavourable markets conditions and disruptions in business operations due to the uncertainties arising out of the outbreak of COVID- 19 pandemic hurt its performance.

• CRISIL’s Q3FY22 net profit rises 53.2% YoY to Rs 168.6 crore with revenues rising 18.2% YoY to Rs 706 crore. The research segment revenues grow 21.5% YoY to Rs 494.3 crore. The company’s board announces a final dividend of Rs 15 per share and a special dividend of Rs 7 per share.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (126.75, 7.46%), Mahindra & Mahindra Financial Services Ltd. (162.10, 5.50%) and Crompton Greaves Consumer Electricals Ltd. (398.45, 4.86%).

Downers:

Largecap and midcap losers today include Balkrishna Industries Ltd. (2,002.90, -5.83%), Power Grid Corporation of India Ltd. (196.30, -3.51%) and Atul Ltd. (9,312.10, -3.00%).

Volume Rockets

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

Top high volume gainers on BSE included PNB Housing Finance Ltd. (438.50, 10.45%), Indoco Remedies Ltd. (374.70, 8.23%) and Restaurant Brands Asia Ltd. (139.90, 6.15%).

Top high volume losers on BSE were Indigo Paints Ltd. (1,846.15, -2.50%), KSB Ltd. (1,082.50, -2.29%) and The Ramco Cements Ltd. (861.35, -2.26%).

Crisil Ltd. (2,832.10, 4.38%) was trading at 15.8 times of weekly average. Punjab & Sind Bank (16.50, 3.45%) and Cera Sanitaryware Ltd. (4,337.00, -0.71%) were trading with volumes 9.1 and 8.5 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 5 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Blue Star Ltd. (1,107.05, 5.76%) and RHI Magnesita India Ltd. (541.50, 3.82%).

Stocks making new 52 weeks lows included - Gujarat Pipavav Port Ltd. (91.25, -0.98%) and Heidelberg Cement India Ltd. (202.25, -0.76%).

39 stocks climbed above their 200 day SMA including MMTC Ltd. (51.20, 5.79%) and Mahindra & Mahindra Financial Services Ltd. (162.10, 5.50%). 3 stocks slipped below their 200 SMA including Equitas Holdings Ltd. (112.85, -2.76%) and V Mart Retail Ltd. (3,479.05, -0.90%).