Trendlyne Analysis

Nifty 50 closed at 18,265.95 (1.6, 0.0%), BSE Sensex closed at 61,761.33 (-2.9, 0%) while the broader Nifty 500 closed at 15,420.60 (-6.5, 0.0%). Of the 1,947 stocks traded today, 810 were gainers and 1,078 were losers.

Indian indices gave up their gains and closed flat on a volatile day of trade. The benchmark Nifty 50 index closed below the 18.300 mark. Birlasoft rose around 7% after its Q4FY23 revenue increased by 11.3% YoY on the back of improvement in revenue from the banking & financial services, manufacturing, and energy & utilities segments.

Nifty Midcap 100 and Nifty Smallcap 100 closed flat, taking cues from the benchmark index. Nifty Pharma and Nifty IT closed higher than Monday’s levels. According to Trendlyne’s sector dashboard, forest materials was the top-performing sector of the day.

European indices traded in the red, in line with the US indices futures. European stocks traded lower as investors looked ahead to the Bank of England’s policy-setting meeting, scheduled to be released later this week. Major Asian indices closed flat or lower, except for Japan’s Nikkei 225, which closed over 1% higher. Brent crude oil futures trade marginally lower after rising over 5% in the last three trading sessions.

• TVS Motor Co beats Hero MotoCorp in YoY revenue growth, annual RoE, one-year price change and broker average rating. But it lags in YoY net profit growth, PE ratio, FII holdings and broker average target upside.

• Indiabulls Real Estate plunges 20% in trade as the National Company Law Tribunal (NCLT) withholds the company's merger with NAM Estates and Embassy One Commercial Property Developments. The NCLT withheld the merger after raising concerns based on the objections of the Income Tax department.

• Au Small Finance Bank and Bharat Petroleum Corp touch their 52-week highs of Rs 701.2 and Rs 370 respectively. Au Small Fin has risen 22.3% in the past month, while the other increased by 10.4%.

• Devyani International rises 22.7% over the past month. The company ranks high on Trendlyne’s Checklist, scoring 72.7%. The stock features in a screener of companies where mutual funds have increased shareholdings in the past month.

• Apollo Tyres touches a 52-week high of Rs 383.15 in trade today. Reports suggest that the company may double its net profit growth in Q4 and net sales are expected to rise up to 10% YoY. The company will declare its Q4FY23 results tomorrow.

• Chalet Hotels is rising as it posts a net profit of Rs 39.3 crore in Q4FY23, compared to a loss of Rs 11.6 crore in Q4FY22. Its revenue jumps 128.3% YoY on the back of robust demand. The company shows up in a screener for companies near their 52-week highs with significant volumes.

• Crude oil prices fall marginally in early trade today as markets await the release of US retail inflation figures tomorrow. Brent crude oil has decreased by 0.4% to $76.7 per barrel.

  Oil prices fell in early trade on Tuesday, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve's next interest rate decision.https://t.co/cDMn1xSGLH

  — Economic Times (@EconomicTimes) May 9, 2023

• Fertilizers, forest materials, and hotels, restaurants & tourism sectors rise over 12.4% over the past three months.

• Tata Consultancy Services and Infosys' current annual RoE are higher than they have been in the past five years. The current annual RoE of the former is 46.6%, while the latter's is 32%.

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

• Kotak Mahindra Bank, IDFC First Bank and Aarti Drugs outperform the Nifty 50 index over the month post their Q4FY23 results.

• Anupam Rasayan is rising as it renews a long-term contract worth $53 million (approximately Rs 436 crore) with a German multinational. Under the renewed contract, Anupam Rasayan will exclusively supply patented life science specialty chemicals to the German multinational for the next three years.

• Joseph Anantharaju, the Executive Vice-Chairman of Happiest Minds Technologies, expects the company’s revenue to grow 25% in FY24. He adds that the company maintains its margin guidance of 22-24% for FY24.

  Earnings With ET NOW | Happiest Minds: Decoding Q4 performance
  
  Joseph Anantharaju, the Executive Vice Chairman and Venkatraman Narayanan, the MD & CFO of Happiest Minds Techno speak on the results, margin guidance and $1 bn target @happiestminds @AyeshaFaridi1 @avannedubash pic.twitter.com/a7nfpYK3qe

  — ET NOW (@ETNOWlive) May 9, 2023

• Zenzar Technologies, Alkyle Amines Chemicals and Siemens are rising ahead of their results on Thursday.

• Bosch, Dr. Reddy's Labs and Procter & Gamble Hygiene Healthcare fall 0.9%, 0.4% and 0.6% respectively over the past week, ahead of their Q4FY23 results tomorrow.

• Rajendra V Gogri, Managing Director of Aarti Industries, says the company’s EBITDA and volume growth will be around 20% and 25% respectively in FY24. He adds that the revenue will grow by 30-35% moving forward.

  #4QWithCNBCTV18 | Discretionary demand seems to be recovering from Q1FY24. Looking at volume growth of 25% in FY24. EBITDA growth in FY24 should be around 20%, says Rajendra V Gogri, Aarti Industries pic.twitter.com/e71nTDFPfR

  — CNBC-TV18 (@CNBCTV18Live) May 9, 2023

• Axis Direct upgrades its rating on Hero MotoCorp to ‘Buy’ from ‘Hold’ and increases the target price to Rs 2,900 from Rs 2,790. This implies an upside of 11.7% from the current market price. The brokerage believes that the stock is trading at an attractive level. It believes the company’s focus on market share gains through new launches amidst the two-wheeler upcycle will bode well in the coming quarters.

• Birlasoft is surging despite its net profit declining by 20.6% YoY to Rs 121.7 crore in Q4FY23. However, revenue grows by 11.3% YoY on the back of improvement in revenue from the banking & financial services, manufacturing, and energy & utilities segments. The company shows up in a screener of stocks that have turned a loss into a net profit on a QoQ basis.

• Mahanagar Gas surges as its Q4FY23 profit rises by 103.9% YoY to Rs 268.8 crore, while its revenue rises by 35.8% YoY. The company also announces a final dividend of Rs 16 per equity share in addition to the interim dividend of Rs 10 per equity share paid in February 2023. Accordingly, the total dividend for FY23 will be Rs 26 per share.

• Mankind Pharma shares debut on the bourses at a 20.4% premium to the issue price of Rs 1,080. The company's Rs 4,326.4 crore IPO has received bids for 12.16 times the total shares on offer.

  #NewListing| Mankind Pharma lists at Rs 1,300/sh, at a premium of 20% from the issue price of Rs 1,080/sh#MankindPharma pic.twitter.com/Fi9ZjJEghl

  — CNBC-TV18 (@CNBCTV18Live) May 9, 2023

• VIP Industries is falling as it posts a net loss of Rs 4.3 crore in Q4FY23, compared to a net profit of Rs 12.4 crore in Q4FY22. The net loss comes on the back of the loss of property, assets, and inventories worth Rs 47.2 crore due to a major fire at a plant of the company’s arm in Bangladesh. However, its revenue grows by 26.6% YoY on the back of heathy demand.

• Adani Ports & Special Economic Zone receives over 300% offers worth $412.7 million for its partial buyback offer for 3.4% senior notes worth $130 million.

• Aarti Industries is rising after its Q4FY23 net profit increases 2.1% YoY to Rs 149 crore despite expenses rising 20%. Its gross revenue also improves by 11% YoY. The board has recommended a dividend of Rs 1.5 per share for FY23.

• Kalpataru Power Transmission’s Q4FY23 net profit rises 45.8% YoY to Rs 156 crore, aided by an exceptional gain of Rs 109 crore contractually receivable by the company through a former subsidiary. Its revenue also increases 18.1% YoY, driven by healthy demand for engineering, procurement and construction (EPC) projects.

• Kansai Nerolac Paints is rising after reporting a 3.8X YoY surge in net profit to Rs 93.9 crore in Q4FY23. Its input costs decrease by 5% on falling commodity prices, while revenue increases 14% YoY in Q4. The board has approved the issue of bonus shares in the ratio of 1:2 and a dividend of Rs 2.7 per share for FY23.

• Pidilite Industries’ Q4FY23 net profit rises 11.3% YoY to Rs 283 crore, aided by moderating input costs and robust demand. Its revenue also improves 7.3% YoY on the back of robust sales volume growth, better product mix and price increases. The stock shows up in a screener for companies with book value per share improving over the past two years.

Riding High:

Largecap and midcap gainers today include Tata Communications Ltd. (1,299.70, 5.82%), Tube Investments of India Ltd. (2,721.25, 4.44%) and UNO Minda Ltd. (551.80, 4.16%).

Downers:

Largecap and midcap losers today include Oracle Financial Services Software Ltd. (3,437.25, -7.29%), Zomato Ltd. (60.95, -6.09%) and Indian Railway Finance Corporation Ltd. (32.90, -5.60%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Firstsource Solutions Ltd. (127.45, 10.73%), Mahanagar Gas Ltd. (1,073.90, 7.43%) and Birlasoft Ltd. (308.25, 7.12%).

Top high volume losers on BSE were Indiabulls Real Estate Ltd. (55.40, -20.00%), Adani Transmission Ltd. (901.60, -5.00%) and TCNS Clothing Co. Ltd. (401.70, -3.61%).

Kansai Nerolac Paints Ltd. (396.90, -1.43%) was trading at 16.6 times of weekly average. Indraprastha Gas Ltd. (498.60, 2.09%) and Poly Medicure Ltd. (966.00, -1.31%) were trading with volumes 7.5 and 7.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

26 stocks made 52-week highs, while 3 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Apollo Tyres Ltd. (381.60, 1.42%), Bajaj Auto Ltd. (4,528.85, -0.45%) and Bharat Petroleum Corporation Ltd. (366.30, -0.38%).

Stocks making new 52 weeks lows included - TeamLease Services Ltd. (2,038.00, -0.69%) and TCNS Clothing Co. Ltd. (401.70, -3.61%).

21 stocks climbed above their 200 day SMA including Birlasoft Ltd. (308.25, 7.12%) and Greaves Cotton Ltd. (148.25, 5.22%). 6 stocks slipped below their 200 SMA including Alembic Pharmaceuticals Ltd. (572.05, -3.53%) and Rashtriya Chemicals & Fertilizers Ltd. (105.05, -2.91%).