Trendlyne Marketwatch
Trendlyne Marketwatch
17 May 2023, 03:45PM
Market closes lower, Devyani International's Q4 net profit falls 20.5% YoY to Rs 60.7 crore

Trendlyne Analysis

Nifty 50 closed at 18,181.75 (-104.8, -0.6%), BSE Sensex closed at 61,560.64 (-371.8, -0.6%) while the broader Nifty 500 closed at 15,426.35 (-66.1, -0.4%). Of the 1,950 stocks traded today, 887 were on the uptick, and 993 were down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing below the 18,200 mark. Devyani International fell over 4.1% after its Q4 net profit declined by 20.5% YoY to Rs 60.7 crore due to rising raw material costs and employee expenses.

Nifty Smallcap 100 closed in the green, despite the benchmark index closing in the red. Nifty Auto and Nifty FMCG closed around their Tuesday closing levels. According to Trendlyne’s sector dashboard, fertilizers was the top-performing sector of the day.

European indices traded in the red as investors awaited the release of the eurozone inflation data for April. Major Asian indices closed in the red except for Japan’s Nikkei 225 and Taiwan’s TSEC 50, which closed higher. Brent crude oil futures traded higher after falling over 1.1% on Tuesday.

  • Dabur India beats Marico in YoY revenue growth, MF holdings, price-to-book ratio and broker average rating. But it lags in YoY net profit growth, PE ratio, FII holdings and one-year price change.

  • Eris Lifesciences Q4FY23 net profit falls 23.1% YoY to Rs 61.5 crore while its revenue rises 28.6%. The dip in profit is due to the increase in employee benefits and depreciation, and amortisation expenses. The company features in a screener for stocks with low debts.

  • Forest materials, transportation and realty sectors rise by more than 13% over the past 90 days.

  • CCL Products India and Cera Sanitaryware touch their all-time highs of Rs 627 and Rs 7,494.7 per share respectively. The former has risen 8.4% over the past month, while the latter gained 13.7%.

  • Abhay Soi, Chairman and Managing Director of Max Healthcare, anticipates an increase in EBITDA margin in FY24 due to capacity addition. The firm plans to add 2,900 beds in the next four years, with an estimated capex of Rs 4,500 crore.

  • Jubilant Foodworks rises despite Q4FY23 net profit falling 70.3% YoY to Rs 28.5 crore, as revenue grows 8.5% YoY. The company has opened 61 new stores in India. It appears in a screener for stocks with consecutive revenue growth for three quarters.

  • Sterlite Technologies surges as its Q4FY23 net profit turns positive at Rs 65 crore, compared to a net loss of Rs 22.4 crore in Q4FY22. Revenue rises 25.1% YoY, driven by strong growth in the optical networking business. The stock appears in screener for companies with no promoter pledges.

  • Devyani International is falling as its Q4FY23 net profit declines by 20.5% YoY to Rs 60.7 crore on the back of rising raw material costs, employee expenses and other expenses. However, its revenue grows by 27.8% YoY driven by robust store additions and healthy demand.

  • Paradeep Phosphates falls as its net profit declines 72% YoY to Rs 10 crore in Q4FY23. EBITDA margin contracts 240 bps YoY to 2.4% due to higher expenses in raw materials, finance, and employee benefits. However, revenue grows 91.9% YoY.

  • Amber Enterprises India surges as its Q4FY23 net profit jumps 81.7% YoY to Rs 104 crore, driven by a 55.3% YoY increase in revenue. The company features in a screener for stocks with improving book value per share over the past two years.

  • Media stocks like PVR INOX, TV18 Broadcast, Dish TV India, Zee Entertainment Enterprises and New Delhi Television are falling in trade. The broader sectoral index Nifty Media is also trading in the red.

  • Rail Vikas Nigam secures an order worth Rs 81.2 crore for automatic block signalling system installation in the Balharshah-Makudi section of the Secunderabad division. The stock shows up in a screener for companies with improving net cash flows over the past two years.

  • Indian rupee depreciates 10 paise to Rs 82.35 per US dollar in early trade today on the back of a negative trend in the equities market.

  • CreditAccess Grameen touches its 52-week high of Rs 204.3 as its net profit expands 86.4% YoY to Rs 296.5 crore in Q4FY23. Interest income grows by 32.4% YoY on the back of an improving loan portfolio. The lender's asset quality improves as gross and net NPAs decline by 240 bps YoY and 86 bps YoY respectively. It features in a screener of stocks which have gained more than 20% over the past month.

  • KRChoksey upgrades its rating on Cipla to ‘Buy’ from ‘Accumulate’ but lowers its target price to Rs 1,167 from Rs 1,289. The brokerage cites a strong product portfolio, and focus on domestic market and US generics as drivers for future profitability. It expects the firm’s net profit to grow at a CAGR of 15.2% over FY23-25.

  • Man Industries (India) receives new orders worth around Rs 500 crore. The total order book to be executed in the next six to eight months stands at approximately Rs 2,300 crore.

  • The National Company Law Tribunal defers the hearing on the SpiceJet-Lessor case to May 25 and asks both parties to resolve the issue. However, the lessor claims that SpiceJet's proposed offer is unacceptable.

  • Realty stocks like Oberoi Realty, Prestige Estates Projects, Macrotech Developers and DLF are falling in trade. The broader sectoral index Nifty Realty is also trading in the red.

  • Adani Ports & Special Economic Zone handles 120.51 million metric tonnes of cargo in FY23, marking a 22.2% YoY increase. The company generates Rs 14,000 crore in revenue from rail cargo for Indian Railways during the same period.

  • Suzlon Energy is rising as it secures an order to supply 33 wind turbine generators for a 99 MW wind power project. The project is expected to be commissioned by FY25. The stock shows up in a screener for companies with high TTM EPS growth.

  • Amit Mahajan, Director of Paras Defence & Space Technologies, says that the fall in EBITDA is due to high raw material costs. The company's order book stands at Rs 550 crore. He adds that the revenue is expected to grow by 40% in FY24.

  • Redington is falling as Q4FY23 net profit drops 10.9% YoY to Rs 310.10 crore despite a 26.4% YoY rise in revenue. The decline in profit is attributed to increased purchase of traded goods. The board recommends a dividend of Rs 7.20 per equity share for FY23. The company appears in the screener for stocks with consistently high returns over the past five years.

  • Jindal Steel & Power is falling as its net profit declines 69.4% YoY to Rs 462.6 crore in Q4FY23 on the back of lower steel prices and higher raw material costs. Revenue also drops by 2% YoY to Rs 15,792.4 crore. The company shows up in a screener of stocks where mutual funds have decreased their shareholding in the past quarter.

  • Oberoi Realty is falling despite its Q4FY23 net profit jumping 106.7% YoY to Rs 480.3 crore and revenue growing by 16.8% YoY on the back of robust retail demand. Vikas Oberoi, Chairman & MD of Oberoi Realty, says, “Demand for housing has continued to grow, driven by the aspiration of continued home ownership by end users. Industry consolidation has led to incremental market share gains for organised players.”

  • Bharti Airtel’s Q4FY23 net profit rises 49.7% YoY to Rs 3,005.6 crore aided by lower spectrum charges and tax expenses. Its EBITDA margin expands by 144 bps YoY. The company’s revenue grows by 14.3% YoY as its average revenue per user and 4G customers increases on a YoY basis. The stock shows up in a screener for companies with revenues increasing sequentially over the past eight quarters.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (56.65, 6.29%), Endurance Technologies Ltd. (1,434.90, 3.57%) and Jubilant Foodworks Ltd. (481.10, 3.09%).

Downers:

Largecap and midcap losers today include Oberoi Realty Ltd. (914.90, -6.18%), LIC Housing Finance Ltd. (370.45, -6.14%) and Jindal Steel & Power Ltd. (532.10, -5.05%).

Movers and Shakers

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

Top high volume gainers on BSE included Amber Enterprises India Ltd. (2,171.85, 15.39%), Tanla Platforms Ltd. (748.30, 11.80%) and CreditAccess Grameen Ltd. (1,171.50, 7.88%).

Top high volume losers on BSE were Oberoi Realty Ltd. (914.90, -6.18%), LIC Housing Finance Ltd. (370.45, -6.14%) and Jindal Steel & Power Ltd. (532.10, -5.05%).

Sterlite Technologies Ltd. (164.65, -0.15%) was trading at 14.9 times of weekly average. IDBI Bank Ltd. (56.65, 6.29%) and Exide Industries Ltd. (205.45, 5.49%) were trading with volumes 8.5 and 8.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks took off, crossing 52-week highs, while 4 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - CCL Products India Ltd. (607.55, 2.56%), Cera Sanitaryware Ltd. (7,330.00, -1.46%) and Cyient Ltd. (1,287.25, 4.64%).

Stocks making new 52 weeks lows included - Ipca Laboratories Ltd. (683.90, -0.98%) and PVR INOX Ltd. (1,366.60, -4.78%).

17 stocks climbed above their 200 day SMA including Amber Enterprises India Ltd. (2,171.85, 15.39%) and Tanla Platforms Ltd. (748.30, 11.80%). 13 stocks slipped below their 200 SMA including LIC Housing Finance Ltd. (370.45, -6.14%) and Devyani International Ltd. (174.30, -4.15%).

 
More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended
Five Interesting Stocks Today - May 16, 2025
The Baseline | 16 May 2025, 06:42PM
Market closes lower, Center plans to allocate a defence budget of Rs 7 lakh crore by FY27
Trendlyne Marketwatch | 16 May 2025, 04:01PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021