Trendlyne Analysis

Nifty 50 closed at 17,929.85 (159.0, 0.9%), BSE Sensex closed at 61,032.26 (600.4, 1.0%) while the broader Nifty 500 closed at 14,968.90 (68.4, 0.5%). Of the 1,951 stocks traded today, 600 were in the positive territory and 1,310 were negative.

Nifty 50 rose over 150 points and closed in the green, with the volatility index, India VIX, falling below the 14% mark. Adani Enterprises rose nearly 2% in trade after it posted Q3FY23 results. But five Adani Group companies extended their fall from Monday and closed at their lower circuits. 

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, despite the benchmark index closing higher. Nifty Metal recovered from its day’s low and closed over 1.4% higher led by Steel Authority of India, which rose after announcing its Q3FY23 earnings. Nifty IT also closed in the green, following the tech-heavy Nasdaq 100 index, which closed 1.6% higher on Monday.  

In international markets, major Asian indices closed in the green amid positive global cues. European stocks edged higher, helped by strong UK labor market data despite the country's economic woes. US indices futures trade flat as investors look ahead to the US inflation print, scheduled to be released later today.

• Money flow index (MFI) indicates that stocks like KPR Mill, Blue Star, Procter & Gamble Health and Cummins India are in the overbought zone.

• Eicher Motors is falling despite its Q3FY23 net profit rising 62.4% YoY to Rs 740.8 crore and revenue growing 29.2% YoY. The company shows up in a screener for stocks in the PE Buy zone with a high durability score and rising momentum score.

• Adani Enterprises' PAT up 410% YoY to Rs 740 crore in Q3FY23. Revenue increases 41.9% YoY.

  #3QWithCNBCTV18 | Adani Enterprises reports Q3 earnings.
  
  ??Net profit at Rs 740 cr Vs Rs 1.8 cr (YoY)
  
  ??Revenue up 41.9% at Rs 26,612.2 cr Vs Rs 18,757.9 cr (YoY)
  
  ??EBITDA at Rs 1,629 cr Vs Rs 771 cr (YoY)
  
  ??Margin at 6.1% Vs 4.1% (YoY) pic.twitter.com/WlV3UDophu

  — CNBC-TV18 (@CNBCTV18Live) February 14, 2023

• Bharat Forge is falling as its consolidated net profit falls 81.3% YoY to Rs 78.7 crore in Q3FY23. Raw material costs, employee benefit expenses and finance costs cut down profitability. However, revenue grows 40% YoY and the stock shows up in a screener with improving net cash flow for the past two years.

• National Fertilizers is rising as it posts a net profit of Rs 554 crore in Q3FY23, compared to a loss of Rs 23.1 crore in Q2FY23. Revenue jumps 99.1% YoY led by robust growth in its fertilizers trading and production segments. The stock shows up in a screener for companies with revenue increasing sequentially for the past three quarters.

• Ipca Laboratories is falling as its net profit falls 45.2% YoY to Rs 107.8 crore in Q3FY23. This is because of an increase in inventory, finance and other expenses. Revenue grows 8.1% YoY and the stock ranks high on the Trendlyne Checklist score.

• HDFC Securities maintains its ‘Buy’ rating on Info Edge and raises the target price to Rs 4,600 from Rs 4,525. This implies an upside of 32.1%. The brokerage remains positive on the firm’s growth prospects, given its dominant online traffic share and long-term contracts.

• Aurobindo Pharma's Unit-IX, an API intermediate facility in Sangareddy district, Telangana, that was under inspection by US FDA has been classified as Voluntary Action Indicated.

• Varun Beverages, Relaxo Footwears and KPR Mill outperform the Nifty 50 index over the week post their Q3FY23 results.

• India’s Wholesale Price Index (WPI) inflation declines to a 24-month low of 4.73% in January compared to 4.95% in December 2022. The decline is contributed by a fall in the prices of mineral oils, chemicals & chemical products, and textiles, among others.

• Wholesale #inflation eased to 4.73% in January from 4.95% in December, continuing its decline for the eighth month#WPI
  ?????Catch the day's latest news and updates ? https://t.co/fHtJ2oLs1Y pic.twitter.com/5Sgb6GwEC0

  — Economic Times (@EconomicTimes) February 14, 2023

• Finolex Cables trades near its 52-week high as it reports decent earnings in Q3FY23. Net profit grows 42% YoY and revenue is up 18%. Reports suggest that foreign brokerage Jefferies has retained its ‘Buy’ rating on the stock with a target price upside of 26%.

• VS Mani, Executive Director & Global CFO at Glenmark Pharmaceuticals, says the company’s turnover could be around Rs 3,400 crore in Q4FY23. He adds that Glenmark Pharma has a growth target of 6% for FY23.

  #OnCNBCTV18 | #Q4 should also see a turnover of around ?3,400 or higher. Margin has hit 18% in the last couple of quarters. Keep FY23 growth target close to 6%, says VS Mani of Glenmark Pharma pic.twitter.com/FPWko0nJk7

  — CNBC-TV18 (@CNBCTV18Live) February 14, 2023

• Shree Cements' Whole-Time Director Prakash Narayan Chhangani resigns from the post to pursue a career outside the organisation. His resignation is effective from February 13, 2023.

• Realty stocks like Prestige Estates Projects, Oberoi Realty, DLF and Brigade Enterprises are falling in trade. The broader sectoral index Nifty Realty is also trading in the red.

• Grindwell Norton, Gujarat State Petronet and Gujarat Gas’ Q3FY23 net profits fall 11%, 17.6% and 8.1% QoQ respectively.

• IT stocks like L&T Technology Services, HCL Technologies, LTIMindtree, Tech Mahindra and Infosys are rising in trade. All constituents of the broader sectoral index Nifty IT are also trading in the green.

• India’s CPI inflation rises to 6.52% in January compared to 5.72% in December 2022. This is because of the surge in food prices and food inflation at 5.9%.

  #NewsAlert ???? India's January CPI inflation rate of 6.52% highest in three months#CPIInflation pic.twitter.com/kzfdtKdWbt

  — Moneycontrol (@moneycontrolcom) February 13, 2023

• Promoter Hulst B V sells a 9.8% stake (60 lakh shares) worth Rs 2,430 crore in Coforge in a bulk deal on Monday. Aditya Birla Sun Life Mutual Fund, Kuwait Investment Authority and Nomura India Inv pick up the shares.

• FSN E-commerce Ventures (Nykaa) is falling as its Q3FY23 net profit drops 70.7% YoY to Rs 8.2 crore on higher purchases of traded goods and other expenses. Revenue rises 33.2% YoY as gross merchandising value sees growth across segments. The stock shows up in a screener for companies with revenue rising sequentially over the past three quarters.

• IRB Infrastructure Developers is falling despite its net profit rising 94.5% YoY to Rs 141.3 crore in Q3FY23. Revenue increases across all segments but road and site expenses surge more than 70%. It shows up in a screener of stocks with growth in quarterly net profit and margin YoY.

• Steel Authority of India’s Q3FY23 net profit declines 64.5% YoY to Rs 542.2 crore due to higher cost of materials and finance costs. Revenue marginally falls by 0.8% YoY despite crude steel production and sales volume rising YoY. The stock shows up in a screener for companies with declining net cash flows.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (257.80, 6.97%), UPL Ltd. (761.60, 3.79%) and ITC Ltd. (386.45, 3.27%).

Downers:

Largecap and midcap losers today include Star Health and Allied Insurance Company Ltd. (506.15, -5.54%), Adani Power Ltd. (148.20, -5.00%) and Adani Green Energy Ltd. (653.65, -5.00%).

Volume Shockers

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

Top high volume gainers on BSE included Oil India Ltd. (257.80, 6.97%), Finolex Cables Ltd. (597.80, 5.75%) and Rashtriya Chemicals & Fertilizers Ltd. (112.40, 4.80%).

Top high volume losers on BSE were Allcargo Logistics Ltd. (364.55, -10.18%), RHI Magnesita India Ltd. (692.10, -7.58%) and Indiabulls Real Estate Ltd. (55.85, -7.46%).

Phoenix Mills Ltd. (1,302.35, -3.33%) was trading at 11.8 times of weekly average. Cholamandalam Financial Holdings Ltd. (605.65, -1.66%) and Bosch Ltd. (17,412.40, 0.02%) were trading with volumes 8.8 and 5.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks made 52-week highs, while 22 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Cera Sanitaryware Ltd. (5,927.95, -2.92%), Cummins India Ltd. (1,599.75, 0.28%) and Finolex Cables Ltd. (597.80, 5.75%).

Stocks making new 52 weeks lows included - Adani Transmission Ltd. (1,071.00, -5.00%) and Alembic Pharmaceuticals Ltd. (498.00, -3.28%).

8 stocks climbed above their 200 day SMA including KIOCL Ltd. (200.75, 1.47%) and Orient Electric Ltd. (273.10, 1.26%). 23 stocks slipped below their 200 SMA including Allcargo Logistics Ltd. (364.55, -10.18%) and RHI Magnesita India Ltd. (692.10, -7.58%).