Trendlyne Marketwatch
Trendlyne Marketwatch
19 Oct 2022
Market closes flat, Ultratech Cement's Q2 net profit falls 42.5% YoY to Rs 756 crore

Trendlyne Analysis

Nifty 50 fell over 100 points from the day's high but still closed marginally higher. Indian indices closed in the green for a fourth straight session. The Indian rupee touched a lifetime low of 82.77 against the US dollar. European stocks traded mixed as UK inflation rises 10.1 % in September up from 9.9 % in August. Major Asian indices closed mixed, despite the US indices closing higher on Tuesday. US stocks extended their gains from Monday on the back of better-than-expected quarterly results from companies like Goldman Sachs and Lockheed Martin. The tech-heavy NASDAQ 100 rose 0.8% while the Dow Jones closed 1.1% higher. Brent crude oil futures traded flat after falling nearly 1.5% on Tuesday.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Bank and Nifty Energy closed higher than Tuesday’s levels. Nifty IT closed in the red, despite the NASDAQ 100 closing higher on Tuesday.

Nifty 50 closed at 17,518.85 (31.9, 0.2%), BSE Sensex closed at 59,107.19 (146.6, 0.3%) while the broader Nifty 500 closed at 15,072.45 (15.9, 0.1%)

Market breadth is in the red. Of the 1,937 stocks traded today, 838 were gainers and 1,041 were losers.

  • Stocks like Castrol India, Godfrey Phillips India, Chalet Hotels, and Rites are in the overbought zone, according to the Money Flow Index or MFI.

  • FNS E-Commerce Ventures (Nykaa) hit its all-time low of Rs 1,130. The stock falls for seven consecutive sessions.

  • Nestle India, PI Industries, and AstraZeneca Pharma trade above their second resistance or R2 level as market trades higher.

  • Indian rupee touches a new lifetime low of 82.77 against the US dollar in trade today.

  • Ultratech Cement is falling as its Q2FY23 net profit falls 42.5% YoY to Rs 756 crore however, net sales rise 15.8% YoY. The company also reports an increase in raw material costs, energy costs and logistics costs in Q2. Its net debt also increased by 32% YoY. The company shows up on the screener listing stocks with declining net profit and profit margin.

  • KPIT Technologies is falling as its Q2FY23 net profit declines 2.3% QoQ to Rs 83.5 crore due to an increase in employee benefit costs and other expenses. However, revenue grows 8.6% QoQ driven by an 18.4% QoQ rise in revenue from the UK & Europe segment.

  • Adani Enterprises' arm Adani Defence and Aerospace inks an agreement to acquire Air Works for Rs 400 crore. Air Works is a maintenance, repair and overhaul organization for defence and aerospace platform.

  • Utilities, Forest Materials, and Commercial Services & Supplies sectors fall by more than 8% over the past month

  • India’s domestic air passenger traffic rises 46.5% to 10.36 million in September. Indigo’s passenger load factor rises to 81.4%, while its market share remains unchanged at 57.7%.

  • HDFC Securities maintains its ‘Buy’ rating on Oberoi Realty with a target price of Rs 1,138. This implies an upside of 32.6%. The brokerage is optimistic about the company’s future revenue growth prospects given its strong launch momentum, robust sales pipeline, and healthy balance sheet. It expects the company’s revenue to grow at a CAGR of 18.9% over FY22-25.

  • Prestige Estates Projects is rising as Q2FY23 sales rises 66% YoY to Rs 3,511 crore and collection rises 68% YoY to Rs 2,602.9 crore. During H1FY23, the company's sales rises 129% YoY to Rs 6,523.1 crore.

  • Nestle's Q2FY23 net profit rises 8.3% YoY to Rs 668 crore with revenue increasing by 18% YoY. Rise in revenue is led by an increase in both domestic and export sales. Nestle also sees growth in product segments like prepared dishes, milk products, confectionary and beverages. The company declares a second interim dividend of Rs 120 per share for FY23.

  • TV18 Broadcast is falling as its Q2FY23 net profit drops 96% YoY to Rs 5.7 crore despite its revenue rising 12.7% YoY. Profit falls due to a significant increase in operational costs and marketing expenses.

  • Apollo Tyres is rising in trade as JP Morgan initiates coverage with an ‘Overweight’ rating and a target price of Rs 380. The brokerage is positive about the company's focus towards market share gains and pricing.

  • Bharat Electronics is rising as it signs an MoU with Munitions India to cooperate and address the requirements of Indian defence and export markets in the areas of ammunition, explosives, and related systems.

  • Piramal Pharma shares list on the bourses today after demerging with Piramal Enterprises. The company’s board approved the demerger in October 2021.

  • L&T Technology Services is falling despite its Q2FY23 net profit rising 3% QoQ to Rs 282.4 crore. Revenue grows by 6.5% QoQ driven by the growth in the transportation segment. The stock shows up on the screener for companies with profits increasing sequentially for the past four quarters.

  • Reliance Jio gains 32.8 lakh wireless subscribers in August on a net basis, while Bharti Airtel adds a net 3.26 lakh subscribers. Vodafone Idea loses 19.6 lakh subscribers.

  • Stocks like Tata Coffee, ICICI Lombard General Insurance, and HFCL report a QoQ rise in net profit in Q2FY23.

  • OFI Global China Fund sells a 5% stake (4.8 crore shares) in Zee Entertainment for Rs 1,272 crore in a bulk deal on Tuesday. In another deal, Nomura India Investment Fund picked up a 0.7% stake in Zee Entertainment for Rs 164.7 crore.

  • Schaeffler India’s Q2FY23 net profit rises 26% YoY to Rs 215.3 crore with revenue increasing 18% YoY. All segments report a growth in revenue with the automotive technology segment contributing maximum towards revenue growth (28% YoY rise) in Q2 despite high inflation across the market. The company shows up on a screener of stocks with strong annual EPS growth.

Riding High:

Largecap and midcap gainers today include Container Corporation of India Ltd. (771.25, 6.91%), Syngene International Ltd. (589.25, 6.31%) and Sona BLW Precision Forgings Ltd. (485.55, 4.53%).

Downers:

Largecap and midcap losers today include Astral Ltd. (2,057.45, -5.22%), L&T Technology Services Ltd. (3,495.05, -4.90%) and NHPC Ltd. (40.20, -4.17%).

Volume Shockers

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

Top high volume gainers on BSE included Suzlon Energy Ltd. (9.25, 19.35%), Aegis Logistics Ltd. (299.80, 9.30%) and PNB Housing Finance Ltd. (425.20, 8.03%).

Top high volume losers on BSE were TV18 Broadcast Ltd. (35.20, -6.26%), L&T Technology Services Ltd. (3,495.05, -4.90%) and KPIT Technologies Ltd. (649.55, -1.62%).

Sundaram Clayton Ltd. (4,601.15, 1.77%) was trading at 11.7 times of weekly average. Syngene International Ltd. (589.25, 6.31%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,827.80, -0.11%) were trading with volumes 10.1 and 9.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks took off, crossing 52-week highs, while 12 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (299.80, 9.30%), City Union Bank Ltd. (193.20, -0.08%) and Coal India Ltd. (238.20, -1.45%).

Stocks making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (552.75, -1.32%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,367.70, -0.74%).

24 stocks climbed above their 200 day SMA including Suzlon Energy Ltd. (9.25, 19.35%) and Syngene International Ltd. (589.25, 6.31%). 9 stocks slipped below their 200 SMA including Edelweiss Financial Services Ltd. (57.90, -2.69%) and Bata India Ltd. (1,838.55, -1.55%).

 
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