Trendlyne Marketwatch
Trendlyne Marketwatch
15 May 2023
Market closes higher, DLF's Q4FY23 net profit rises 40.6% YoY to Rs 570 crore

Trendlyne Analysis

Nifty 50 closed at 18,398.85 (84.1, 0.5%), BSE Sensex closed at 62,345.71 (317.8, 0.5%) while the broader Nifty 500 closed at 15,549.70 (72.4, 0.5%). Of the 1,983 stocks traded today, 1,006 were gainers and 902 were losers.

Indian indices closed in the green, with the volatility index, India VIX, rising above 13%. The benchmark Nifty 50 index rose over 80 points but closed just below the 18,400 mark. DLF rose over 7.2% after its Q4 net profit increased by 40.6% YoY to Rs 570 crore due to declining costs of land and finance costs.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, outperforming the benchmark index. Nifty Media and Nifty Bank closed higher than their Friday closing levels. According to Trendlyne’s sector dashboard, realty was the top-performing sector of the day.

European indices traded in the green, in line with the US indices futures. Most major Asian indices closed in the green amid positive global cues. Investors keep an eye on US debt ceiling talks and Turkish election results. Brent crude oil futures traded marginally higher after falling for three consecutive trading sessions.

  • Relative strength index (RSI) indicates that stocks like Siemens, ABB India, Chalet Hotels and Intellect Design Arena are in the overbought zone.

  • Kalyan Jewellers India is falling as its Q4FY23 net profit declines 3.1% YoY to Rs 70.1 crore due to a loss of Rs 33.3 crore arising from the disposal of non-core assets. However, its revenue rises by 18.4% YoY, driven by healthy demand in India and the middle east. The stock shows up in a screener for companies with book value per share improving over the past two years.

  • Century Plyboards is rising as its net profit increases by 29.5% YoY to Rs 114.6 crore in Q4FY23. The company's revenue also grows by 7.1% YoY, driven by the plywood and container freight station services sectors. It features in a screener of stocks with high volume and gain.

  • Zydus Lifesciences, ITC and Krishna Institute of Medical Sciences’ weekly average delivery volumes rise ahead of their Q4FY23 results on Thursday.

  • Sumitomo Chemical India and PVR INOX touch their 52-week lows of Rs 388.9 and Rs 1,416.3 per share respectively. The former has fallen .2% over the past month, while the latter declined 4.6%.

  • Media stocks like Navneet Education, Network 18 Media & Investments, Sun TV Network, Zee Entertainment Enterprises and PVR INOX are rising in trade. The broader sectoral index Nifty Media is also trading in the green.

  • Naresh Patel, Chairman and Managing Director of Ami Organics, says the company will continue to grow by 20-25%. He also anticipates an improvement in the margin of the pharma business, projecting it to reach 22-25%.

  • Karur Vysya Bank rises as its Q4FY23 profit increases 58.3% YoY to Rs 337.8 crore and revenue improves 34.3% YoY. The growth in revenue is primarily driven by the retail banking and treasury segments. The company appears in a screener for stocks with low debt.

  • DLF rises to touch its 52-week high as its Q4FY23 net profit surges 40.6% YoY to Rs 570 crore on the back of declining costs of land, finance costs and other expenses. However, its revenue falls by 5.9% YoY despite robust growth in new sales bookings in Q4. The stock shows up in a screener for companies with net profits increasing sequentially over the past four quarters.

  • Hindustan Petroleum Corp is falling despite its net profit growing 78.8% YoY to Rs 3,608.32 crore in Q4FY23. Revenue rises 8.7% YoY while excise duty declines, helping the EBITDA margin to improve by 188 bps YoY. The company shows up in a screener of stocks trading near their 52-week highs with significant volumes.

  • Bank of Baroda, Granules India and Jindal Steel & Power fall 0.7%, 1.2% and 2% respectively over the past week, ahead of their Q4FY23 results tomorrow.

  • IT stocks like Tech Mahindra, Infosys, Coforge, L&T Technology Services and Wipro are rising in trade. All the constituents of the broader sectoral index Nifty IT are also trading in the green.

  • India’s WPI inflation falls to -0.92% in April from 1.34% in March. The decrease is due to a fall in the prices of basic metals, food products, mineral oil and textiles, among others.

  • ICICI Securities downgrades its rating on Hindustan Aeronautics to ‘Add’ from ‘Buy’ but raises the target price to Rs 3,385 from Rs 2,850, implying an upside of 12.1%. The brokerage remains optimistic about the firm’s growth prospects given its robust order book but believes any delay in executing the LCA Tejas Mk1A orders is a key risk, leading to the downgrade in rating.

  • Antony Cherukara, CEO of VST Tillers Tractors, expects the company to grow by 20% in FY24, led by the small farm mechanisation segment. He adds that VST is on track to achieve its revenue target of Rs 3,000 crore by FY26.

  • Data Patterns is falling as its net profit declines 10.2% YoY to Rs 55.4 crore in Q4FY23. However, revenue grows 8.5% YoY on the back of improving order book. The order book for FY23 stands at Rs 900 crore. The company shows up in a screener of stocks with declining net profit and profit margin (YoY).

  • Rail Vikas Nigam is rising as its joint venture with SCC Infrastructure bags an order for the design and construction of high canals to provide irrigation facilities for a land area of 41,903 hectares in Rajasthan. The project is worth Rs 2,248.9 crore.

  • India’s CPI inflation eases to 4.7%% in April, down from 5.66% in March. The fall is due to a decline in food inflation which stands at 3.84%.

  • Great Eastern Shipping Co is rising as its Q4FY23 net profit jumps by 282% YoY to Rs 721.9 crore, while its revenue rises 58.9% YoY on the back of 70.9% growth in the shipping segment. The company shows up in a screener for stocks in the PE Buy zone with a high durability score and rising momentum score.

  • Realty stocks like DLF, Sobha, Mahindra Lifespace Developers and Godrej Properties are rising in trade. The broader sectoral indices Nifty Realty and BSE Realty are also trading in the green.

  • Goldman Sachs maintains ‘Buy’ on Tata Motors with a target price of Rs 600, citing favourable demand from JLR and the domestic EV segment. JLR is expected to report over 6% EBIT margin in FY24.

     

  • Porinju Veliyath adds Thejo Engineering to his portfolio in Q4FY23, buys a 1.2% stake in the company.

  • Birla Corp’s wholly owned subsidiary acquires limestone mining rights on 889.7 hectares of land in a tripartite agreement with the Madhya Pradesh government and Sanghi Infrastructure. The acquisition cost is Rs 51.5 crore. The stock ranks high on Trendlyne's checklist score.

  • Ashish Kacholia buys a 0.1% stake in Beta Drugs in Q4FY23. He now holds 5.8% in the company.

  • Avenue Supermarts (D-Mart) is falling despite reporting a 7.8% YoY increase in net profit to Rs 460 crore in Q4FY23. Its revenue has increased 21% YoY, led by increased sales in the FMCG and staples segments. Neville Noronha, MD & CEO, says lower consumer spending in general merchandise and apparel has impacted the margin, which fell 110 bps YoY to 7.3% in Q4.

  • Tata Motors is back in the black as it reports a net profit of Rs 5,407.8 crore in Q4FY23 against a net loss of Rs 1,032.8 crore in Q4FY22. According to the management, volumes have improved in India and supplies increased at Jaguar Land Rover. Its revenue has increased 35% YoY on improved average selling prices (ASPs). The company has declared a final dividend of Rs 2 per share subject to shareholders’ approval.

Riding High:

Largecap and midcap gainers today include DLF Ltd. (468.15, 7.39%), Oberoi Realty Ltd. (986.90, 4.87%) and Max Healthcare Institute Ltd. (519.90, 4.01%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (777.45, -5.00%), Adani Transmission Ltd. (840.60, -5.00%) and Avenue Supermarts Ltd. (3,523.40, -4.19%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Zensar Technologies Ltd. (384.15, 13.15%), Sobha Ltd. (554.05, 11.78%) and Elgi Equipments Ltd. (467.30, 8.70%).

Top high volume losers on BSE were Home First Finance Company India Ltd. (694.20, -4.29%), Avenue Supermarts Ltd. (3,523.40, -4.19%) and Aegis Logistics Ltd. (364.35, -3.52%).

Mahindra Lifespace Developers Ltd. (402.15, 6.71%) was trading at 21.2 times of weekly average. Great Eastern Shipping Company Ltd. (721.50, 6.61%) and Hikal Ltd. (296.65, -0.47%) were trading with volumes 14.5 and 6.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

24 stocks took off, crossing 52-week highs, while 3 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Akzo Nobel India Ltd. (2,460.00, -0.42%), Colgate-Palmolive (India) Ltd. (1,673.65, 2.82%) and Cyient Ltd. (1,279.60, 5.84%).

Stocks making new 52 weeks lows included - PVR INOX Ltd. (1,465.05, 1.24%) and Affle (India) Ltd. (921.40, 0.16%).

21 stocks climbed above their 200 day SMA including Elgi Equipments Ltd. (467.30, 8.70%) and Mahindra Lifespace Developers Ltd. (402.15, 6.71%). 9 stocks slipped below their 200 SMA including Edelweiss Financial Services Ltd. (61.20, -5.70%) and Rashtriya Chemicals & Fertilizers Ltd. (105.15, -1.59%).

 
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