Trendlyne Analysis

Nifty 50 closed at 17,944.20 (-91.7, -0.5%), BSE Sensex closed at 61,002.57 (-316.9, -0.5%) while the broader Nifty 500 closed at 15,003.95 (-79.8, -0.5%). Of the 1,948 stocks traded today, 710 were in the positive territory and 1,174 were negative.

Nifty 50 recouped the losses made in the morning session but still closed in the red, below the key 18,000 mark. Indigo's promoters offload a 4% stake worth Rs 2,900 crore via a block deal. GAIL (India) plans to buy a 26% stake in an LNG liquefaction plant in the USA.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Realty closed lower, led by industry heavyweights India Bulls Real Estate and Lodha Group. Nifty IT also closed in the red, following the tech-heavy Nasdaq 100 index which closed 1.78% lower on Thursday.

In international markets, major Asian indices closed in the red amid negative global cues. European stocks edge lower, except France’s CAC index at an all-time high. US indices futures trade in the red, indicating a negative start for the day.

• Britannia Industries beats Nestle in YoY revenue & net profit growth, one-year price change and FII holdings. But it lags in annual & three-year RoE, one-month MF holding change and broker average rating.

• GAIL (India) is rising as it plans to buy a 26% stake in an LNG liquefaction plant in the USA directly or through its subsidiary, according to reports. The company plans to source 1 million tonnes of LNG per annum on a free-on-board basis for 15 years.

• Ipca Laboratories hits a 52-week low of Rs 815 and is trading in the red. This is after it posted weak results in Q3FY23, where its net profit fell 45.3% YoY to Rs 107.8 crore. The stock ranks medium on the Trendlyne checklist score, along with low valuation and momentum scores.

• Minda Corp acquires a 15.7% stake in Pricol for Rs 400 crore through an open market transaction. However, Pricol has clarified that it has no knowledge of the deal and that its promoters have no intention of selling their stake. Minda Corp claims this is merely a financial investment and it will not have any special rights other than the rights of a shareholder.

• Cement stocks like Ultratech Cement, Grasim Industries, Shree Cements and Ambuja Cements are rising as reports suggest the companies will take a price hike of Rs 15 per bag, effective from today.

  #MarketsWithETNOW | Cement Stocks in focus with price hikes of Rs 15 per bag. Biggest hike since April 2022; @davemansi145 brings us more details. Listen in#Cement #StockMarket #StocksToWatch pic.twitter.com/a2TSc31eNK

  — ET NOW (@ETNOWlive) February 17, 2023

• Foreign institutional investors invest Rs 5,636.4 crore in the equity market over the past week, according to Trendlyne's FII dashboard. Meanwhile, stock futures witness the highest outflow of Rs 86.8 crore from foreign investors.

• Hindustan Aeronautics, Cummins and Page Industries outperform the Nifty 50 index over the week post their Q3FY23 results.

• Nestle and GMR Airports Infrastructure Q3FY23 net profits fall 6% and 7.9% QoQ but rise 62.4% and 137% YoY respectively.

• Zydus Lifesciences receives the final approval from the USFDA for sirolimus tablets. The drug is used to prevent the body from rejecting a transplanted kidney in people 13 years of age or older. The tablets have annual sales of $69 million in the US as of December 2022.

• Bhanu Chopra, CEO of RateGain Travel Technologies, says the company’s margin will expand by 200-300 bps annually. He adds that RateGain will exceed the EBITDA margin target of 20% by FY25.

  #OnCNBCTV18 | Will see margin expansion of 200-300 bps every year. In terms of deal wins, Q3 was one of the best quarters
  
  Revenue of ?890 cr with a 16% margin is achievable
  
  Bhanu Chopra of Rategain to CNBC-TV18 pic.twitter.com/ArwUJqKsax

  — CNBC-TV18 (@CNBCTV18Live) February 17, 2023

• Gensol Engineering wins orders worth Rs 501.2 crore for the development of solar power projects aggregating to a capacity of over 247 megawatt-peak in Andhra Pradesh, Jharkhand, Kerela and Rajasthan, among others.

• Prabhudas Lilladher upgrades its rating on Thermax to ‘Buy’ from ‘Add’ and raises the target price to Rs 2,604 from Rs 2,556. This indicates an upside of 27.4%. The brokerage turns bullish about the company’s prospects on the back of growing order inflow, improving margins, capacity expansion, robust balance sheet and healthy demand outlook.

• Hindustan Aeronautics and Bharat Forge are rising as the companies sign a memorandum of understanding (MoU) with Saarloha Advanced Materials. The MoU is for the development and production of aerospace grade steel alloys.

• Ultratech Cement is rising in a weak market, touching a 52-week high of Rs 7,391 as it announces the commissioning of 1.3 mtpa brownfield capacity at Chattisgarh. It has also additionally commissioned a 2.8 mtpa greenfield grinding capacity in Odisha. The company’s total cement manufacturing capacity now stands at 126.9 mtpa.

• Goldman Sacs maintains its ‘Neutral’ rating on Nestle India with a target price of Rs 19,900. The brokerage says that large price hikes taken by the company have helped volume growth and margin pressure.

  #CNBCTV18Market | Q4CY22 was in-line with street expectations. Vol growth sharply moderates due to large price hikes taken in low unit packs. Marginally lower CY23/24 EPS estimates by 0.2%/1.1%, GS on #Nestle pic.twitter.com/dUn1UMgpJz

  — CNBC-TV18 (@CNBCTV18Live) February 17, 2023

• PSU banks like UCO Bank, Union Bank of India, Bank of India, Bank of Baroda and Punjab National Bank are falling in trade. All constituents of the broader sectoral index Nifty PSU Bank are also trading in the red.

• Glenmark Pharmaceuticals receives a second tentative approval from the USFDA for saxagliptin tablets, the generic version of onglyza tablets. Over the past year till December 2022, onglyza tablets have achieved annual sales of $122.3 million. The stock shows up in a screener for companies with zero promoter pledges.

• Promoter Shobha Gangwal sells a 4% stake (1.5 crore shares) worth Rs 2,943.8 crore in InterGlobe Aviation (Indigo) in a bulk deal.

• Reliance Jio gains 17.1 lakh wireless subscribers in December on a net basis, while Bharti Airtel adds 15.3 lakh and Vodafone Idea loses 24.7 lakh.

  December #Telecom Data | Reliance Jio net #adds 17.08 lakh users in #December Vs 14.26 lakh users (MoM) @TRAI
  
  Here's more???? pic.twitter.com/9QP2yBv3da

  — CNBC-TV18 (@CNBCTV18Live) February 16, 2023

• Railtel Corp of India receives orders from Bangalore Metro Rail Corp for supply, installation testing and commissioning of the IT network infrastructure worth Rs 27.1 crore and a comprehensive annual maintenance contract worth Rs 6.22 crore per year for five years.

• Angel One’s CEO Narayan Gangadhar resigns with effect from May 16 due to personal reasons. The company’s day-to-day operations will be managed by Chairman and Managing Director Dinesh Thakkar for the time being.

• Schaeffler India’s Q4FY22 (the firm follows the calendar year of January - December) net profit rises 21.2% YoY to Rs 231 crore driven by a favourable sales mix. Revenue grows by 17.8% YoY led by robust growth in the automotive technologies segment. The stock shows up in a screener for companies with improving book value per share over the past two years.

Riding High:

Largecap and midcap gainers today include Adani Wilmar Ltd. (438.25, 5.00%), Adani Power Ltd. (155.15, 4.97%) and Schaeffler India Ltd. (2,943.00, 3.99%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (971.50, -5.00%), Adani Transmission Ltd. (920.40, -4.97%) and Biocon Ltd. (232.50, -4.26%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Shilpa Medicare Ltd. (295.95, 14.66%), TCNS Clothing Co. Ltd. (501.60, 13.54%) and Timken India Ltd. (3,155.90, 4.78%).

Top high volume losers on BSE were Minda Corporation Ltd. (203.85, -4.61%), Ipca Laboratories Ltd. (830.90, -3.66%) and Bharat Dynamics Ltd. (872.70, -3.23%).

Schaeffler India Ltd. (2,943.00, 3.99%) was trading at 16.5 times of weekly average. Prince Pipes & Fittings Ltd. (573.80, -1.16%) and Krishna Institute of Medical Sciences Ltd. (1,401.20, -1.08%) were trading with volumes 13.1 and 12.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52-week highs, while 9 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Supreme Industries Ltd. (2,746.50, 1.36%), UltraTech Cement Ltd. (7,297.85, 1.76%) and APL Apollo Tubes Ltd. (1,287.90, -2.52%).

Stocks making new 52 weeks lows included - Adani Transmission Ltd. (920.40, -4.97%) and Bata India Ltd. (1,440.05, -0.69%).

19 stocks climbed above their 200 day SMA including Schaeffler India Ltd. (2,943.00, 3.99%) and Mishra Dhatu Nigam Ltd. (208.85, 2.68%). 15 stocks slipped below their 200 SMA including Capri Global Capital Ltd. (703.55, -6.50%) and Minda Corporation Ltd. (203.85, -4.61%).