Trendlyne Marketwatch
Trendlyne Marketwatch
26 Apr 2023
Market closes higher, KEC International bags new orders worth Rs 1,017 crore

Trendlyne Analysis

Nifty 50 closed at 17,813.60 (44.4, 0.3%), BSE Sensex closed at 60,300.58 (169.9, 0.3%) while the broader Nifty 500 closed at 14,994.40 (38.7, 0.3%). Of the 1,948 stocks traded today, 1,012 were gainers and 861 were losers.

Nifty 50 rose over 100 points from its day’s low and closed above the 17,800 mark on a volatile day of trade. Indian indices closed in the green for a third straight trading session. Maruti Suzuki closed marginally higher after its Q4FY23 net profit rose by 42.7% YoY to Rs 2,623.6 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Realty and Nifty FMCG closed higher than Tuesday’s closing level. The fertilizers sector was the top-performing sector of the day as it rose over 3%, according to Trendlyne’s sector dashboard. Nifty IT closed in the green, taking cues from the tech-heavy Nasdaq futures, which traded sharply higher.

All major European indices traded in the red amid mixed global cues. Most Asian indices closed in the red, except for India’s BSE Sensex and Hong Kong’s Hang Seng index, which closed in the green. US indices futures traded higher. Brent crude oil futures traded in the green after falling over 2% on Tuesday.

  • Mankind Pharma’s Rs 4,326.4 crore IPO gets bids for 87% of the available 2.8 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 25% of the available 1.4 crore shares on offer.

  • Nestle India beats Tata Consumer Products in YoY & QoQ revenue and profit growth, one-year price change and annual RoE. But lags in PE ratio, FII & MF holdings and broker average rating.

  • CSB Bank and Glenmark Pharmaceuticals reach their 52-week highs of Rs 295 and Rs 522.5 per share respectively. CSB Bank has risen 22.8% over the past month, while the other went up 22.6%.

  • Dalmia Bharat is rising as it enters a definitive agreement with Jaiprakash Associates for the acquisition of JP Super and Bhilai Jaypee Cement. The company will acquire JP Super at Rs 1,500 crore while it has a share purchase agreement for the acquisition of a 74% stake in Bhilai Jaypee Cement for Rs 666 crore.

  • Maruti Suzuki’s standalone Q4FY23 net profit rises 42.7% YoY to Rs 2,623.6 crore as revenue increases 21%. Cost of materials has fallen 8% YoY in Q4. The company has also announced a capacity addition of 10 lakh units at Manesar and Gurugram, along with a dividend of Rs 90 per share for FY23.

  • Nifty Realty, Nifty PSU Bank and Nifty Bank have risen more than 8% in the past month.

  • KPIT Technologies is rising as its Q4FY23 net profit rises 41.5% YoY to Rs 111.6 crore and revenue jumps 56.1% YoY. This robust performance is driven by healthy revenue growth in the European and American market segments despite the macroeconomic headwinds impacting those regions. The stock shows up in a screener for companies with quarterly revenues increasing sequentially for the past eight quarters.

  • Poonawalla Fincorp’s Q4FY23 net profit rises 67% YoY to Rs 198.5 crore. The NBFC has declared a dividend of Rs 2 per share for FY23. The stock is trading near its 52-week high with significant volumes.

  • Indian Sugar Mills Association (ISMA) revises India’s sugar production estimate to 328 lakh tonnes for the current marketing year (October-September), from the earlier estimate of 340 lakh tonnes.

  • KEC International is rising as it bags new orders worth Rs 1,017 crore across transmission & distribution, civil and cables segments. The stock is trading above its first resistance or R1 level.

  • Fertilizer stocks like Gujarat State Fertilizer & Chemicals, Gujarat Narmada Valley Fertilizers & Chemicals and Chambal Fertilisers & Chemicals are rising in trade. The overall Fertilizer sector is also trading in the green.

  • Welspun India, Shriram Finance and Indian Hotels Co rise 5.8%, 4.2% and 3.2% respectively in the past week, ahead of their Q4FY23 results tomorrow.

  • Gland Pharma is rising as promoter Fosun Pharma Industrial drops plans of selling its stake in the company, according to reports. Fosun Pharma currently holds a 57.86% stake in Gland Pharma.

  • Rating agency S&P Global Ratings upgrades its rating on Tata Motors to ‘BB’ from ‘BB-’, with a stable outlook and improvement in earnings. S&P expects the company’s cash flow to strengthen in the next 12-18 months.

  • ICICI Securities maintains its ‘Buy’ rating on Crompton Greaves Consumer Electricals but lowers its target price to Rs 325 from Rs 495, which implies an upside of 29.3%. The brokerage cites the expectation of muted demand for consumer durables in FY24 for cutting its target price. However, it remains optimistic about the firm’s prospects given its strong brand value and distribution network.

  • Nippon Life India Asset Management is rising after reporting a 13% YoY increase in its Q4FY23 net profit to Rs 198 crore. Its AUM rises 3.5% YoY and market share grows 14 bps YoY to 7.24%. It shows up in a screener of stocks with improving revenue for the past two quarters.

  • ACC, Hindustan Unilever and MPhasiS fall 1%, 1.6% and 1.3% respectively over the past week, ahead of their Q4FY23 results tomorrow.

  • IndiaMART InterMESH will consider issuing bonus shares in its upcoming board meeting on Friday. The company will also announce its Q4 results on the same day.

  • Sumant Kathpalia, Managing Director and CEO of IndusInd Bank, expects net interest margins (NIMs) to be in the range of 4.2-4.3%. He adds that the bank will be able to maintain loan book growth of 18-23%.

  • Dalmia Bharat's net profit rises 125% YoY to Rs 609 crore in Q4FY23. Revenue grows 15.7% YoY aided by a 13.3% YoY increase in sales volume. Mahendra Sanghi, MD & CEO of the company, expects profits to further improve on the back of a strong demand outlook and steady cement prices.

  • Multi Commodity Exchange of India, Au Small Finance Bank and 360 One Wam are trading below their third support or S3 level.

  • AU Small Finance Bank’s Q4FY23 net profit rises 22.7% YoY to Rs 424.6 crore. Net interest income also increases 30%. Asset quality has improved with gross and net NPAs falling 32 bps and 8 bps YoY respectively. The stock is currently trading below its third support or S3 level.

  • Aditya Birla Capital is rising as reports suggest that 2.6 crore shares (1.08% equity) of the company, amounting to Rs 416.4 crore, change hands in a block deal.

  • Patel Engineering rises as it wins orders with its joint venture partner for Krishna Marathwada Irrigation Project and Krishna Marathwada Irrigation Project from the Water Resources Department, Government of Maharashtra. The company's share for the two projects is worth Rs 451.28 crore.

  • Mahindra CIE Automotive is rising as its Q4FY23 net profit surges by 72.9% YoY to Rs 279.1 crore while its EBITDA margin expands by 160 bps YoY. The company’s revenue increases 18.4% YoY, led by healthy growth across its geographical segments. It shows up in a screener for stocks with high consistent returns over the past five years.

  • Tata Consumer Products is falling despite a 23.5% YoY rise in net profit to Rs 268.59 crore in Q4FY23. The company’s revenue has also increased by 14% as both Indian and international businesses grew. Sunil D’Souza, MD and CEO of the company, says it has managed to balance margins in a volatile macro environment in FY23.

  • Bajaj Auto’s Q4FY23 net profit rises 11.7% YoY to Rs 1,704.7 crore while revenue increases 12% YoY. The company states that a better product mix, strategic pricing and improved forex realisations offset the drop in overall sales volume driven by declining exports. The stock shows up in a screener for companies with no debt.

Riding High:

Largecap and midcap gainers today include NHPC Ltd. (44.30, 5.23%), Vodafone Idea Ltd. (6.55, 3.97%) and Indus Towers Ltd. (143.00, 3.62%).

Downers:

Largecap and midcap losers today include Ipca Laboratories Ltd. (701.40, -5.36%), Vedant Fashions Ltd. (1,246.80, -4.58%) and Crompton Greaves Consumer Electricals Ltd. (252.55, -2.66%).

Volume Rockets

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

Top high volume gainers on BSE included Gujarat State Fertilizer & Chemicals Ltd. (153.30, 19.95%), Gujarat Alkalies & Chemicals Ltd. (733.50, 17.21%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (587.00, 10.55%).

Top high volume losers on BSE were Multi Commodity Exchange of India Ltd. (1,394.45, -6.26%), Ipca Laboratories Ltd. (701.40, -5.36%) and Rallis India Ltd. (191.10, -4.07%).

Gujarat State Petronet Ltd. (284.60, 7.15%) was trading at 33.8 times of weekly average. MMTC Ltd. (32.70, 9.00%) and Mahindra CIE Automotive Ltd. (385.00, 7.32%) were trading with volumes 31.3 and 18.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks hit their 52-week highs, while 8 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - CCL Products India Ltd. (590.15, 3.25%), Glenmark Pharmaceuticals Ltd. (521.25, 0.60%) and Nestle India Ltd. (21,026.25, 1.75%).

Stocks making new 52 weeks lows included - Ipca Laboratories Ltd. (701.40, -5.36%) and PVR Ltd. (1,449.65, -1.96%).

12 stocks climbed above their 200 day SMA including Gujarat State Fertilizer & Chemicals Ltd. (153.30, 19.95%) and KIOCL Ltd. (196.25, 2.40%). 9 stocks slipped below their 200 SMA including Multi Commodity Exchange of India Ltd. (1,394.45, -6.26%) and Vedant Fashions Ltd. (1,246.80, -4.58%).

 
More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended
Five Interesting Stocks Today - May 16, 2025
The Baseline | 16 May 2025, 06:42PM
A car running on flat tires: Pakistan's economy is struggling
The Baseline | 15 May 2025
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021