Trendlyne Marketwatch
Trendlyne Marketwatch
15 Feb 2023
Market closes higher, Aster DM Healthcare’s Q3 net profit falls 6% YoY to Rs 139.4 crore

Trendlyne Analysis

Nifty 50 closed at 18,015.85 (86, 0.5%) , BSE Sensex closed at 61,275.09 (242.8, 0.4%) while the broader Nifty 500 closed at 15,039.65 (70.8, 0.5%). Market breadth is in the green. Of the 1,956 stocks traded today, 1,024 were gainers and 867 were losers.

Nifty 50 rose over 90 points and closed above 18,000 mark on a volatile day of trade. According to trade statistics released today, India's trade deficit in January 2023 remained flat at USD 17.5 billion YoY and declined by USD 6 billion MoM.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green, following the benchmark index closing higher. Nifty Realty recovered from the day’s low and closed over 1.2% higher, led by Indiabulls Real Estate and DLF. Nifty IT also closed in the green, following the tech-heavy Nasdaq 100 index, which closed 0.71% higher on Tuesday.

In international markets, major Asian indices closed in the red. Helped by expansion in Eurozone GDP and a strong job market, European stocks edged higher, narrowly avoiding recession worries. US indices futures trade in the red, indicating a negative start for the day.

  • Metro Brands beats Bata India in YoY & QoQ revenue growth, annual RoE and one-year price change. But it lags in YoY and QoQ net profit growth, PE ratio, FII holdings and average broker target upside.

  • India’s merchandise exports fell 6.6% YoY to $32.9 billion in January. Imports stood at $50.7 billion and the trade deficit narrowed to $17.8 billion from $23.8 billion in December 2022.

  • Power Finance Corp, Campus Activewear and EIH’s operating profit and operating margin rise YoY in Q3FY23.

  • Aster DM Healthcare’s Q3FY23 net profit falls 6% YoY to Rs 139.4 crore. Expenses related to medicine purchases rise and revenue is up 21% across hospitals and retail pharmacy segments. However, revenue from clinics fell YoY in Q3. It shows up in a screener of stocks with strong annual EPS growth.

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

  • Ambuja Cements, Dixon Technologies (India) and Shree Renuka Sugars underperform their industry by 29.6%, 26.9% and 23.6%, respectively, in the past month.

  • NSE signs a data licensing agreement with derivatives marketplace CME Group for WTI crude oil and natural gas contracts.

  • ITD Cementation India is rising as it bags an order worth Rs 833 crore for the engineering, procurement and construction of the Thal Sena Bhawan in Delhi Cantt-10. The company has secured orders worth Rs 8,800 crore since April 2022.

  • ICICI Securities downgrades its rating on Bharat Forge to ‘Hold’ from ‘Add’ and lowers the target price to Rs 894 from Rs 904. However, this is an upside of 7.5% from the current market price. The brokerage cites weakness in the company’s overseas subsidiary’s performance but remains positive due to the domestic commercial vehicle upcycle.

  • Torrent Power is rising with high volumes and gains in trade as it logs an increase in net profit by 86% YoY to Rs 684.6 crore in Q3FY23. The company reports a fall in fuel and raw material costs but electrical energy purchase expenses shoot up 2.3X. It shows up in a screener of strong momentum stocks.

  • Abneesh Roy, Executive Director at Nuvama Institutional Equities, says there has been a slight slowdown in urban discretionary consumption in Q3 due to the loss of jobs, muted hiring in the IT space and rising costs. He expects selective consumption to trend in Q4. Akshay Dsouza, Chief of Growth & Insights at Bizom, says the FMCG sector will see decent growth as summer approaches.

  • Siemens is rising as its Q3FY23 net profit beats analyst estimates along with robust order inflows and execution. However, Nomura maintains a ‘Neutral’ rating on the stock, according to reports. The company ranks high on Trendlyne’s checklist with a score of 65.2%.

  • Computer Age Management Services is rising as it receives an in-principle authorisation from the Reserve Bank of India to operate as a payment aggregator. The stock shows up in a screener for companies with improving cash flows from operations over the past two years.

  • Indian rupee depreciates to the lowest level since January 4, to 82.85 against the US dollar in early trade today, on expectations of more rate hikes by the US Federal Reserve.

  • Bata India is falling despite its Q3FY23 net profit rising 15% YoY to Rs 83.2 crore, led by a sharp fall in raw material costs and inventory expenses. Revenue rises 7% YoY, driven by portfolio expansion and premiumisation. The stock shows up in a screener for companies with strong annual EPS growth.

  • Biocon is falling as it posts a net loss of Rs 41.8 crore in Q3FY23. However, revenue increases by 35.3% YoY with revenue from APIs & generic formulations, biosimilars and research services segments. The company shows up in a screener of stocks with declining return on capital employed (RoCE) in the past two years.

  • Morgan Stanley maintains its ‘Equal-Weight’ rating on Eicher Motors with a target price of Rs 3,553. The brokerage says the company has gained market share after the launch of Hunter and expects it to peak in 2023. It adds that Eicher benefits from the decline in commodity prices and price hikes.

  • Glenmark Pharmaceuticals is falling in trade but foreign brokerage Nomura increases its target price by 50%. The company's net profit grows 21.1% YoY to Rs 290.7 crore in Q3FY23. The stock ranks high on the Trendlyne Checklist score.

  • Oil and Natural Gas Corp, Biocon and Bosch's Q3FY23 net profits fall 13.9%, 189.1% and 14.4% QoQ respectively.

  • Gujarat Fluorochemicals, Sundaram Finance and Thermax outperform the Nifty 50 index over the week post their Q3FY23 results.

  • Vodafone Idea’s net loss increases to Rs 7,990 crore in Q3FY23 against Rs 7,595.5 crore in Q2FY23. Its average revenue per user increases by 3.1% QoQ and net debt is up 1.2% QoQ. It shows up in a screener of stocks with low piotroski scores.

  • Apollo Hospitals’ Q3FY23 net profit is down 32.8% YoY to Rs 153.46 crore on increasing costs. Revenue expands 17% YoY with growth from segments like healthcare services, digital health & pharmacy distribution but the retail health and diagnostics segment’s revenue falls in Q3. The stock shows up in a screener with consistent high returns in the past five years.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (156.75, 10.70%), Torrent Power Ltd. (504.40, 10.37%) and Tech Mahindra Ltd. (1,071.40, 5.86%).

Downers:

Largecap and midcap losers today include Adani Transmission Ltd. (1,017.45, -5.00%), Adani Total Gas Ltd. (1,076.40, -5.00%) and Adani Green Energy Ltd. (621.00, -5.00%).

Movers and Shakers

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

Top high volume gainers on BSE included Finolex Cables Ltd. (671.60, 12.35%), Brightcom Group Ltd. (26.45, 11.60%) and General Insurance Corporation of India (156.75, 10.70%).

Top high volume losers on BSE were TCNS Clothing Co. Ltd. (436.85, -6.56%), Uflex Ltd. (484.05, -5.38%) and Bharat Forge Ltd. (835.70, -4.33%).

Torrent Power Ltd. (504.40, 10.37%) was trading at 39.5 times of weekly average. Tejas Networks Ltd. (590.25, 10.11%) and PI Industries Ltd. (3,121.95, 2.88%) were trading with volumes 19.7 and 11.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52 week highs, while 19 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Cummins India Ltd. (1,628.80, 1.82%), Finolex Cables Ltd. (671.60, 12.35%) and Siemens Ltd. (3,229.40, 3.34%).

Stocks making new 52 weeks lows included - Adani Transmission Ltd. (1,017.45, -5.00%) and Alembic Pharmaceuticals Ltd. (501.40, 0.74%).

14 stocks climbed above their 200 day SMA including Torrent Power Ltd. (504.40, 10.37%) and Tejas Networks Ltd. (590.25, 10.11%). 16 stocks slipped below their 200 SMA including Hikal Ltd. (310.25, -4.76%) and Multi Commodity Exchange of India Ltd. (1,348.55, -4.06%).

 
More from Trendlyne Marketwatch
Recommended
Five Interesting Stocks Today - May 02, 2025
The Baseline | 02 May 2025
Market closes flat, Ami Organics' Q4 net profit beats Forecaster estimates by 30%
Trendlyne Marketwatch | 02 May 2025
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021