Market closes higher, Unichem Laboratories posts a profit of Rs 71.5 crore in Q4

Trendlyne Analysis

Nifty 50 closed in the green with the Indian volatility index, India VIX falling by more than 5.5%. Sensex rallied over 1,000 points over easing of lockdown measures in Shanghai and positive cues from global markets. All Indian sectoral benchmarks ended in green with BSE Consumer Durables and Nifty Realty leading the pack. PayMate India filed IPO papers with SEBI to raise Rs 1,500 crore. The offer consists of fresh issue of Rs 1,125 crore and an offer of sale of upto Rs 375 crore.

Nifty 50 closed at 16,661.40 (309.0, 1.9%), BSE Sensex closed at 55,925.74 (1,041.1, 1.9%) while the broader Nifty 500 closed at 14,154.80 (281.7, 2.0%)

Market breadth is highly positive. Of the 1,908 stocks traded today, 1,431 were gainers and 439 were losers.

Cholamandalam Financial Holdings, Carborundum Universal, Cera Sanitaryware, and Kansai Nerolac Paints are trading with higher volumes as compared to Friday.
Jubilant Foodworks sees a long build-up in its Jun 30 futures series as its open interest rises 14.4% with put to call ratio at 0.55
Hindustan Zinc's Q4FY22 profit rises 18% YoY to Rs 2,928 crore. The profit rises as EBITDA margin rise 60 bps to 56.4% on the back of a 25.3% rise in revenues to Rs 9,074 crore.
Stocks like Reliance Industries, Tata Consultancy Services, Kotak Mahindra Bank, Hindustan Unilever, Bharti Airtel, among others, are outperforming their respective sectors in the past month.
Edelweiss maintains a ‘Buy’ rating on PSP Projects with a target price of Rs 715, indicating an upside of 38%. The brokerage remains positive about the company’s prospects due to its robust order pipeline and strong balance sheet. The company is set to bag orders worth Rs 2,200 crore in FY23 and its EBITDA to grow at a 7.4% CAGR over FY22-24, the brokerage said.
Unichem Laboratories reports a net profit of Rs 71.5 crore in Q4FY22 against a net loss of Rs 0.41 crore. Revenue increases 35% to Rs 369.9 crore. The stock is rallying as the board recommends a dividend of Rs 4 per equity share for FY22.
Timken India is rising as its Q4FY22 net profit rises 128.9% YoY to Rs 121.3 crore and revenue rises 40.4% to Rs 667.4 crore. Revenue growth is driven by growth in the industrial segment. Profit is up as the operating margin rises by 8.7 percentage points YoY to 26.9% on price hikes.
Realty stocks like DLF , Macrotech Developers, Godrej Properties, Oberoi Realty, Phoenix Mills, among others, are rising in trade. The broader sectoral index Nifty Realty is also trading in green.
Sun TV Network is rising despite its Q4FY22 net profit falling 15.8% to Rs 410.2 crore. Profit is down given a high base, due to a deferred tax credit of Rs 426.8 crore in Q4FY21. Revenue rises 6.8% YoY to Rs 912.8 crore and EBITDA rises 2.3% YoY to Rs 563.9 crore.
All IT stocks trade in green, with stocks like Tata Consultancy Services, Infosys, HCL Technologies, Wipro, Tech Mahindra, among others rising above 2%. The broader sectoral index Nifty IT is also trading in the green.
Fine Organic Industries is trading with more than 9 times its weekly average trading volume. 3M India, City Union Bank, IFB Industries, and Timken India are trading at more than five times their weekly average trading volumes.
Larsen & Toubro rises as it bags a contract worth Rs 1,000-2,500 crore for the Chennai Metro Rail Project. The company will construct an elevated viaduct of 10 km including an elevated ramp and ten elevated metro stations in the city. The construction is to complete in 35 months.
Real estate developer Shriram Properties rises after it reports a net profit of Rs 64.5 crore in Q4FY22 against a net loss of Rs 3.2 crore in Q4FY21. EBITDA margin rises 18.1 percentage points YoY to 38.4%. Revenue increases 48.7% YoY to Rs 205.1 crore. Total sales volume increases 25% YoY to 3.76 million square feet for FY22.
FSN E-Commerce Ventures (Nykaa) is rising despite its Q4FY22 net profit falling 96.5% YoY to Rs 8.6 crore. Profit is down due to employee costs rising 32% YoY to Rs 90.8 crore and purchases of traded goods rising 26.8% YoY to Rs 664.3 crore. However, revenue rises 31.4% YoY to Rs 973.3 crore, driven by orders growing 35.2% YoY to 73 lakh orders.
Indian rupee appreciates 12 paise to Rs 77.46 against the US dollar in early trade today
Tata Motors shares rise after the company announces the signing of an MoU (memorandum of understanding) with the Government of Gujarat for acquiring Ford India's (FIPL) Sanand vehicle manufacturing facility. The acquisition will include acquiring the land and buildings, vehicle manufacturing plant, machinery, equipment, and transfer of eligible employees of FIPL. Tata Motors plans to establish an installed capacity of 3 lakh units after it acquires the plant.
ONGC's standalone Q4FY22 profit rises 31.6% YoY to Rs 8,859.5 crore while revenue jumps 63% YoY to Rs 35,841 crore. Net sales realizations jump over 60% YoY on buoyant oil prices inturn driving the overall revenue growth of the company. ONGC declares final dividend of Rs 3.25 per share for FY22.
Mahindra & Mahindra hit a 52-week high as its Q4FY22 net profit rises 109.1% YoY to Rs 2,237.4 crore on the back of a gain on the sale of stakes in certain joint ventures and higher sales volume. Revenue rises 20.9% YoY to Rs 25,934.4 crore, driven by revenue from the automotive segment rising 46.9% YoY to Rs 12,492.8 crore. However, the operating margin falls by 161 bps YoY to 16.5% on higher input costs.
Ethos’ shares list at 6.4% discount to the issue price of Rs 878 on its debut on the bourses. The Rs 472.3-crore IPO was subscribed for 1.04X of the total shares on offer.
ITC acquires a 10.1% stake in Blupin Technologies, which operates direct-to-consumer (D2C) brand, Mylo, for nearly Rs 40 crore. This will enable ITC to strengthen its position in the mother and baby care segment. This is second investment in this space by the company after Mother Sparsh in November 2021.
3M's stock is rising as its Q4FY22 net profit rises 57.4% YoY to Rs 110.9 crore with revenue increasing 11.9% to Rs 925.5 crore. Revenue from the healthcare segment grows the most with a 35% YoY increase to Rs 147.8 crore. Total tax expenses shoot up 65.9% YoY to Rs 40.5 crore.

Riding High:

Largecap and midcap gainers today include Dixon Technologies (India) Ltd. (3,804.05, 11.19%), 3M India Ltd. (19,475.05, 10.88%) and Jubilant Foodworks Ltd. (566.85, 9.70%).

Downers:

Largecap and midcap losers today include Dr. Lal Pathlabs Ltd. (2,096.30, -4.91%), Tata Elxsi Ltd. (8,076.70, -3.12%) and Jindal Steel & Power Ltd. (386.95, -2.40%).

Movers and Shakers

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

Top high volume gainers on BSE included Dixon Technologies (India) Ltd. (3,804.05, 11.19%), 3M India Ltd. (19,475.05, 10.88%) and Fine Organic Industries Ltd. (4,507.70, 10.06%).

Top high volume losers on BSE were Tasty Bite Eatables Ltd. (9,497.65, -3.32%), Symphony Ltd. (1,000.15, -1.18%) and TCNS Clothing Co. Ltd. (573.35, -1.10%).

TTK Prestige Ltd. (833.95, 0.80%) was trading at 13.3 times of weekly average. City Union Bank Ltd. (138.60, 9.48%) and IFB Industries Ltd. (857.25, -1.06%) were trading with volumes 12.0 and 8.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks made 52-week highs, while 3 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Adani Power Ltd. (340.25, 3.70%), Blue Dart Express Ltd. (7,472.40, 0.94%) and EID Parry (India) Ltd. (558.05, 5.53%).

Stocks making new 52 weeks lows included - Heidelberg Cement India Ltd. (182.50, -1.06%) and Ipca Laboratories Ltd. (900.35, -0.09%).

30 stocks climbed above their 200 day SMA including KPIT Technologies Ltd. (521.70, 9.58%) and Allcargo Logistics Ltd. (318.25, 7.48%). 7 stocks slipped below their 200 SMA including Torrent Pharmaceuticals Ltd. (2,885.25, -1.76%) and Lakshmi Machine Works Ltd. (9,106.00, -1.32%).