Trendlyne Analysis

Nifty 50 closed at 17,828.00 (15.6, 0.1%) , BSE Sensex closed at 60,431.00 (38.2, 0.1%) while the broader Nifty 500 closed at 14,954.25 (12.7, 0.1%). Of the 1,948 stocks traded today, 984 were on the uptick, and 906 were down.

Indian Indices settled flat after switching between losses and gains throughout the day, with the Nifty 50 closing above the 17,800 mark. Au Small Finance Bank closed over 16% higher as 33.48 lakh shares (0.5% equity) of the company, amounting to Rs 212.9 crore, change hands at an average of Rs 637.5 per share.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, outperforming the benchmark index. Nifty Realty and Nifty FMCG closed higher than Wednesday’s closing levels. Infosys fell sharply ahead of its Q4 results, to be announced later today.

European stocks traded mixed after opening higher, in line with the Asian indices, which closed mixed. US indices futures traded flat as investors assess US Fed rate hike expectations. Goldman Sachs expects the US Fed to pause rate hikes in June after hiking by 25 bps in its May meeting.

• IndusInd Bank sees a long build-up in its April 27 future series as its open interest rises 7.1% with a put-call ratio of 0.91

• HDFC and Godrej Consumer Products made their new 52-week highs of Rs 2,785 and Rs 979.9 respectively. HDFC has risen 6.5% in the past month, while Godrej Consumer Products increased 5% in the same period.

• Hindustan Petroleum Corp falls more than 2% in trade as Morgan Stanley downgrades it to ‘Underweight’ and lowers the target price to Rs 220 from Rs 254 on the back of high crude oil prices. The stock has fallen 22% in the past year.

• Anand Rathi Wealth touches its all-time high of Rs 884.5 on the back of robust Q4FY23 results. Its net profit rises 23.3% YoY to Rs 42.6 crore and revenue increases by 27.1% YoY. The stock shows up in a screener for companies with revenue increasing sequentially over the past eight quarters.

• According to Crisil’s Market Intelligence and Analytics arm, India Inc’s revenue growth is expected to decline to 10%-12% in Q4FY23, while it will grow at a rate of 19%-21% in FY23, as against 27% in FY22.

  #IndiaInc's topline growth in Q4FY23 to halve to 10-12 pc: Reporthttps://t.co/4hSUF0L6Fm

  — Financial Express (@FinancialXpress) April 13, 2023

• Nippon Life India Asset Management and Meghmani Finechem rise more than 6% over the week, ahead of their results on April 25.

• PSU banks like Central Bank of India, Union Bank of India and Bank of Maharashtra are rising in trade. All constituents of the broader Nifty PSU Bank index are also trading in the green.

• Media stocks like Zee Entertainment Enterprises, Hathway Cable & Datacom, Nazara Technologies, Sun TV Network and Dish TV India are falling in trade. All constituents of the broader sectoral index Nifty Media are also trading in the red.

• AU Small Finance Bank, The Fertilisers and Chemicals Travancore and Gujarat Ambuja Exports outperform the Sensex by 6.3%, 39.12% and 5.7% respectively in the past month.

• IT stocks like LTIMindtree, Persistent Systems, Mphasis, Infosys and Tech Mahindra are falling in trade. All constituents of the broader sectoral index Nifty IT are also trading in the red.

• AU Small Finance Bank rises over 16% in trade today. Reports suggest that 33.48 lakh shares (0.5% equity) of the company, amounting to Rs 212.9 crore, change hands.

AU Small Fin Bank Large Trade | 33.48 lakh shares (0.5% equity) worth ?212.9 cr change hands at an average of ?637.5/share #AUSmallFinBank #LargeTrade pic.twitter.com/6U4trumJAB

— CNBC-TV18 (@CNBCTV18Live) April 13, 2023

• Goldman Sachs initiates coverage on Eicher Motors with a ‘Buy’ rating and a target price of Rs 3,660 as it expects the company to fare better than its peers in the electric vehicles segment. Macquarie, on the other hand, downgrades its rating on Eicher to ‘Neutral’, citing lower volumes and a slower growth outlook. It has also reduced earnings estimates for FY24 and FY25 to 12% and 10%, respectively.

• Jindal Steel & Power plans to commission a 1.2 MTPA rail and heavy structure mill at its Angul Steel complex in Odisha, which will take the company's total capacity to 2.2 MTPA. The stock is currently trading 83% higher than its 52-week low.

• Anupam Rasayan is rising as it enters a 7-year agreement with a Japanese multinational to produce and deliver three specialty chemicals, valued at $ 182 million (approximately Rs 1,500 crore).

• The Society of Indian Automobile Manufacturers (SIAM) reports that two-wheeler sales have risen by 7.7% YoY to 12.9 lakh units, while passenger car sales have fallen by 11.6% YoY to 1.2 lakh units in March.

  March @siamindia Data |
  
  ??Passenger vehicle sales up 4.7% at 2.92 lakh units vs 2.78 lakh units YoY
  
  ??Passenger car sales down 11.6% at 1.22 lakh units vs 1.38 lakh units YoY #MarchSIAM #SIAMData #automobile pic.twitter.com/URZ3izKCDQ

  — CNBC-TV18 (@CNBCTV18Live) April 13, 2023

• Axis Direct initiates coverage on Mahindra CIE Automotive with a ‘Buy’ rating and a target price of Rs 475. This implies an upside of 29.3%. The brokerage is positive about the firm’s prospects on the back of market share gains in India and Europe, strong cash flow generation and a healthy balance sheet. It expects the company’s net profit to grow at a CAGR of 24.8% over CY22-25.

• Goldman Sachs believes that the US Federal Reserve will not raise interest rates in the June meeting, as the March inflation data has been in line with its expectations.

  #GoldmanSachs no longer expect the U.S. Federal Reserve to raise interest rates in June https://t.co/8vnIcQD9lX

  — ETMarkets (@ETMarkets) April 13, 2023

• Rites is rising as it secures an order worth Rs 72 crore from the Kerela Infrastructure Investment Fund Board for project management consultancy work. The company shows up in a screener of stocks with prices above their short, medium and long-term moving averages.

• Transformers & Rectifiers (India) is rising as it bags orders worth Rs 192 crore from a central utility company for the supply of transformers. With this order, the firm’s order book stands at Rs 1,691 crore.

• Rail Vikas Nigam is rising as it bags an order from the North Western Railway for the block signalling of the Jaipur division. The estimated project cost is Rs 63.17 crore. It shows up in a screener of stocks with highest recovery from their 52-week lows.

• India’s CPI inflation eases to a 15-month low of 5.66% in March, down from 5.95% in February, due to a moderation in food prices.

  #CPI-based #RetailInflation in #India eased further to 5.66 per cent in March as #food #inflation moderated on account of falling vegetable prices, offset in part by surging cereal priceshttps://t.co/vbeHuc9vE8

  — Economic Times (@EconomicTimes) April 12, 2023

• Campus Activewear is rising as it acquires a land parcel and building in Ponta Sahib, Himachal Pradesh, from Marico Industries for capacity expansion. The total cost of acquisition is Rs 16.7 crore. The company plans to manufacture semi-finished goods and establish footwear assembly operations in the newly acquired facility.

• ICICI Prudential Life Insurance, Cyient and Tata Communications rise 12.8%, 14.4% and 6% respectively in the past month, ahead of their Q4FY23 results next week.

• SRF is rising as it receives the board’s approval to build a pharma intermediates plant that will serve as backward integration to produce pharma products at the Dahej plant. The project, with an estimated cost of Rs 223 crore, was commissioned on April 12.

• Tata Consultancy Services’ net profit rises 5% QoQ to Rs 11,392 crore in Q4FY23. Revenue increases 1.6% QoQ, led by growth across all segments except communication, media & technology, which has marginally fallen by 0.6%. Rajesh Gopinathan, the company’s CEO, says that the weak result in Q4 is because of the uncertainty in the banking, financial services and insurance segment of North American markets.

Riding High:

Largecap and midcap gainers today include Au Small Finance Bank Ltd. (679.20, 17.07%), IDBI Bank Ltd. (51.70, 9.77%) and NHPC Ltd. (42.85, 3.75%).

Downers:

Largecap and midcap losers today include LTIMindtree Ltd. (4,646.40, -3.76%), Persistent Systems Ltd. (4,391.75, -3.34%) and Laurus Labs Ltd. (3,13.90, -2.85%).

Volume Rockets

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

Top high volume gainers on BSE included Au Small Finance Bank Ltd. (679.20, 17.07%), IDBI Bank Ltd. (51.70, 9.77%) and Gujarat Ambuja Exports Ltd. (265.55, 7.66%).

Top high volume losers on BSE were LTIMindtree Ltd. (4,646.40, -3.76%), PNB Housing Finance Ltd. (423.45, -3.51%) and Persistent Systems Ltd. (4,391.75, -3.34%).

Gujarat Alkalies & Chemicals Ltd. (647.70, 2.66%) was trading at 15.6 times of weekly average. Welspun India Ltd. (81.15, 6.64%) and Graphite India Ltd. (278.40, 4.56%) were trading with volumes 10.1 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks made 52 week highs,

Stocks touching their year highs included - Zydus Lifesciences Ltd. (503.65, -0.19%), Godrej Consumer Products Ltd. (963.20, -0.58%) and Housing Development Finance Corporation Ltd. (2,786.85, 0.64%).

16 stocks climbed above their 200 day SMA including Au Small Finance Bank Ltd. (679.20, 17.07%) and Gujarat Ambuja Exports Ltd. (265.55, 7.66%). 4 stocks slipped below their 200 SMA including 3M India Ltd. (22,861.60, -0.74%) and Brigade Enterprises Ltd. (481.55, -0.66%).