Trendlyne Analysis

Nifty 50 closed at 18,255.80 (166.0, 0.9%), BSE Sensex closed at 61,749.25 (556.0, 0.9%) while the broader Nifty 500 closed at 15,405.50 (129.1, 0.9%). Of the 1,942 stocks traded today, 1,271 were in the positive territory and 621 were negative.

Indian indices closed in the green after opening flat on a volatile day of trade. The benchmark Nifty 50 index rose over 165 points and closed over the 18,250 mark. Data from the Federation of Automotive Dealers' Association showed retail sales for the automotive industry fell 4% YoY to 17.2 lakh units in April. Two-wheeler retail sales decreased by 7.3% YoY, while car sales fell 1.3% YoY.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Metal and Nifty PSU Bank closed higher than Wednesday’s levels. Nifty IT closed 0.5% higher, despite the tech-heavy Nasdaq 100 index closing in the red on Wednesday. According to Trendlyne’s sector dashboard, commercial services & supplies was the top-performing sector of the day.

European indices traded in the red, despite major Asian indices closing in the green. European stocks traded lower as investors look ahead to the European Central Bank’s latest monetary policy decision, to be announced later today. US indices futures traded flat after closing in the red on Wednesday, as investors assessed the impact of a 25 bps rate hike by the US Fed on the economy.

• Godrej Properties beats Macrotech Developers in YoY and QoQ net profit growth, PE ratio and FII holdings. But it lags in price-to-book ratio, broker average rating and Trendlyne valuation score.

• IndiaMART InterMESH rises over 14% in the past week. The company features in a screener of stocks where brokers have upgraded recommendation or target price in the past three months. It also ranks high on Trendlyne’s Checklist.

• Housing Development Finance Corp is rising as its net profit improves by 19.6% YoY to Rs 4,425.5 crore in Q4FY23. Revenue also increases by 35.6% YoY to Rs 16,679.4 crore on the back of growth in interest income. The company shows up in a screener of stocks with improving net profit over the past two quarters.

• Dabur India’s Q4FY23 net profit rises 2.2% YoY to Rs 300.8 crore and revenue grows by 6.4% YoY. The company’s largest business segment, the consumer care business, remains flat YoY. Growth in Q4 is being led by the food business growing by 44.8% YoY. The stock shows up in a screener for companies with declining cash flows.

• Medical equipment, fertilizers and education industries rise more than 20% in the past month.

• KEC International is rising despite seeing a 35.6% YoY decline in Q4FY23 net profit due to a write-off of Rs 44 crore the company received in Q4FY22. Its revenue has grown by 29.2% YoY to Rs 5,525 crore. The stock is currently trading near its 52-week high of Rs 525.9 per share.

• Jefferies maintains its ‘Buy’ rating on KEI Industries with a target price of Rs 2,305. The brokerage says the company’s revenues have been high but offset by low margins in Q4.

  Brokerage Radar | Jefferies on KEI Industries: Maintain Buy; High revenues offset by lower margins #Jefferies #KEIIndustries #StockMarket pic.twitter.com/ETYIZXnYML

  — ET NOW (@ETNOWlive) May 4, 2023

• Equitas Small Finance Bank, Piramal Enterprises and Britannia Industries rise 6.5%, 5.1% and 3.8% respectively over the past week, ahead of their Q4FY23 results tomorrow.

• ABB India and Cholamandalam Investment & Finance reach their all-time highs of Rs 3,662.7 and Rs 970 per share respectively. The former has risen 8.2% over the past month, while the latter grew 21.7%.

• SJVN bags an order worth Rs 1,200 crore for setting up a 200 MW grid-connected solar power project in Khavda Solar Park by Gujarat Urja Vikas Nigam. The stock has gained 6% in the past week.

• Adani Ports & Special Economic Zone inks a share purchase agreement with Solar Energy to divest its 100% equity stake in Coastal International Terminals for $30 million.

• Cholamandalam Investment & Finance Co is rising as its Q4FY23 net profit increases 23.7% YoY to Rs 852.8 crore, while its interest income grows by 43.5% YoY as disbursements surge by 65% YoY. The management says that the firm has gained market share across product segments in Q4. The stock shows up in a screener for companies with improving cash flows and high durability scores.

• Patel Engineering, along with its joint venture partner, wins two projects worth a total of Rs 1,309.9 crore. The Tumkur branch canal micro-irrigation project is awarded by Visvesvaraya Jala Nigama, while the Sher micro-irrigation project is from the Water Resources Department of Madhya Pradesh. The company's share in these projects is Rs 508.2 crore.

• Anil Rai Gupta, Chairman and Managing Director of Havells India, says the company’s margins are expected to improve to 13-15% in FY24 on the back of cooling input costs. He adds that it will not take further price hikes in the fan segment.

  Havells says
  ????Margins could move back towards 13% to 15% on cooling input costs
  ????Lloyd AC growth will continue though not stressing on moving into the green
  ?No further price increase in fans
  ????Hints at some signs of slowdown but hope for a bounce backpic.twitter.com/FmWGHgWylO

  — Nigel D'Souza (@Nigel__DSouza) May 4, 2023

• KRChoksey upgrades its rating on ACC to ‘Buy’ from ‘Accumulate’ but lowers its target price to Rs 2,166 from Rs 2,342. This implies an upside of 23.2%. The brokerage expects the company to benefit from the Centre’s focus on infrastructure and affordable housing due to its pan-India presence. It also expects margin pressure to ease in the coming quarters due to declining prices of crude, coal, and pet coke.

• Telecom stocks like GTL Infrastructure, HFCL, Tata Teleservices (Maharashtra) and Mahanagar Telephone Nigam are rising in trade. All constituents of the broader sectoral index S&P BSE Telecom are trading in the green.

• Retail sales for the automotive industry fall 4% YoY to 17.2 lakh units in April, shows data from the Federation of Automotive Dealers' Association. Two-wheeler retail sales are down 7.3% YoY, while cars fall 1.3% YoY.

  #FADA #April total vehicle retail sales fall 4% YoY, 2-wheeler sales down 7.3% YoY
  
  'Urge #GST Council to consider reducing GST on 2-wheelers to 18% from 28%,' says @FADA_India pic.twitter.com/xcmnwcdOin

  — CNBC-TV18 (@CNBCTV18Live) May 4, 2023

• Adani Ports & Special Economic Zone’s April 2023 cargo volumes rise 12.8% YoY to 32.3 million metric tonnes (MMT). This growth is driven by rising volumes of dry cargo and containers. The stock shows up in a screener for companies with improving book value per share over the past two years.

• HG Infra Engineering announces plans to sell its entire stake in its wholly owned subsidiaries like Gurgaon Sohna Highway, HG Rewari Ateli Highway, HG Ateli Narnaul Highway and HG Rewari Bypass to Highway Infrastructure Trust for an equity value of Rs 531 crore. The stock has touched a 52-week high in the past week.

• G R Infraprojects wins an order worth Rs 737.2 crore from the Ministry of Road Transport and Highway for the construction of a four-lane highway with paved shoulders in the state of Uttar Pradesh.

• Indian rupee appreciates to 81.82 from the previous close of 81.67 against the US dollar in early trade today.

  #Rupee opens higher against US dollar pic.twitter.com/C7d65LbWmg

  — CNBC-TV18 (@CNBCTV18Live) May 4, 2023

• Khurshed Yazdi Daruvala, promoter of Sterling and Wilson Renewable Energy, sells a 0.5% stake in the company on Wednesday.

• Tata Chemicals is falling despite reporting an increase in net profit by 53.6% YoY to Rs 711 crore in Q4FY23. Although its input costs have fallen, power and fuel costs rose 13% YoY. However, revenue has increased by 27% because of the growth in demand for soda ash, bicarbonate and salt. The company reports a decrease in net debt by 8% to Rs 3,898 crore.

• Sona BLW Precision Forgings is rising after its net profit increased 14.5% YoY to Rs 119.8 crore in Q4FY23. Revenue has surged 35.5% with sales of battery electric vehicles. The company's net order book for FY23 stands at Rs 21,500 crore, an increase of 15.6% YoY.

• Titan’s Q4FY23 net profit rises 50% YoY to Rs 734 crore despite an increase in expenses by 33%. Advertising and finance costs surge by more than 20% YoY in Q4. Revenue has also increased across all segments like watches and wearables, jewellery and eyecare, among others. It shows up in a screener of stocks with consistent returns over the past five years.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (184.70, 19.47%), Cholamandalam Investment & Finance Company Ltd. (950.20, 7.17%) and Mahindra & Mahindra Financial Services Ltd. (288.35, 6.21%).

Downers:

Largecap and midcap losers today include Petronet LNG Ltd. (226.80, -4.18%), Indian Railway Finance Corporation Ltd. (34.20, -3.53%) and Endurance Technologies Ltd. (1,335.40, -2.03%).

Volume Rockets

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

Top high volume gainers on BSE included General Insurance Corporation of India (184.70, 19.47%), The New India Assurance Company Ltd. (126.65, 15.19%) and Tata Teleservices (Maharashtra) Ltd. (67.45, 9.94%).

Top high volume losers on BSE were TTK Prestige Ltd. (702.05, -2.51%), Firstsource Solutions Ltd. (116.45, -1.27%) and Tata Chemicals Ltd. (982.25, -1.09%).

Chemplast Sanmar Ltd. (437.15, 1.50%) was trading at 7.8 times of weekly average. Kajaria Ceramics Ltd. (1,127.70, 3.61%) and Cholamandalam Investment & Finance Company Ltd. (950.20, 7.17%) were trading with volumes 7.6 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

22 stocks took off, crossing 52-week highs, while 1 stock was an underachiever and hit its 52-week low.

Stocks touching their year highs included - Apollo Tyres Ltd. (359.75, 1.24%), Cholamandalam Investment & Finance Company Ltd. (950.20, 7.17%) and Dr. Reddy's Laboratories Ltd. (4,968.00, 0.32%).

Stock making new 52 weeks lows included - V-Mart Retail Ltd. (2,095.00, -0.88%).

19 stocks climbed above their 200 day SMA including Suzlon Energy Ltd. (8.60, 6.17%) and Birla Corporation Ltd. (973.65, 4.72%). 7 stocks slipped below their 200 SMA including Mishra Dhatu Nigam Ltd. (207.45, -1.36%) and Indiabulls Real Estate Ltd. (71.75, -0.21%).