Trendlyne Analysis

Nifty 50 closed at 18,203.40 (73.5, 0.4%), BSE Sensex closed at 61,729.68 (297.9, 0.5%) while the broader Nifty 500 closed at 15,407.55 (46.0, 0.3%). Of the 1,947 stocks traded today, 830 showed gains, and 1,066 showed losses.

Indian indices recover from days low and closed in the green, with the Nifty 50 hovering above the key 18,200 mark. The volatility index, Nifty VIX falls below 13 at the close.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat, despite the benchmark index closing higher. Nifty PSU Bank closed higher than Thursday’s closing levels. Nifty IT closed higher, tailing the tech-heavy Nasdaq 100 closing in the green on Thursday. According to Trendlyne’s sector dashboard, commercial services and supplies was the top-performing sector of the day as it rose over 1.6%.

Most European indices trade in the green amid positive global cues. On Monday US indices closed marginally higher with S&P 500 rising 0.94%, while Dow Jones closing 0.34% higher. The market movement was led by tech stocks, as more firms are becoming vocal about the importance of artificial intelligence.

• Birlasoft sees a long buildup in its May 25 future series as its open interest rises 14.5% with a put-call ratio of 0.78.

• Fortis Healthcare, Dixon Technologies, Ashok Leyland and Galaxy Surfactants are rising ahead of their Q4FY23 results on Tuesday.

• Alkem Laboratories' Q4FY23 net profit falls 37.5% YoY to Rs 67.7 crore, while revenue rises 18.6% YoY. Higher inventory expenses contribute to the profit drop. The company appears in a screener for stocks with improving book value per share for the past two years.

• Muthoot Finance, Adani Total Gas, Gland Pharma and Balaji Amines are trading below their third support or S3 level.

• Motherson Sumi Wiring India is falling despite its Q4FY23 net profit surging by nearly 3X YoY to Rs 138.5 crore and revenue rising 12.2% YoY. The stock shows up in a screener for companies with strong annual EPS growth.

• Jindal Stainless plunges by more than 5% in trade today. According to reports, analysts estimate the upside on the current market price to be more than 28% over the next 12 months. According to Trendlyne's Forecaster, the consensus recommendation from seven analysts is 'Strong Buy'.

• The Supreme Court upholds High Court's decision to disqualify Tata Motors from the tender for electric buses held by Brihanmumbai Electricity Supply and Transport Undertaking (BEST), according to reports. Tata Motors was disqualified by the High Court for deviating from tender specifications.

• Domestic air traffic grows 22% YoY but marginally falls MoM in April. DGCA data shows that domestic airlines have carried approximately 1.3 crore passengers. Vistara, Air India and SpiceJet lose market share MoM, while IndiGo gains.

  In April, India witnessed a 22% increase in its domestic air traffic compared to the corresponding month of the previous year. The number of passengers carried reached 128.88 lakh.
  
  Read more here????https://t.co/xA47YoHEuy#Aviation #India

  — Moneycontrol (@moneycontrolcom) May 19, 2023

• The Ramco Cements and Firstsource Solutions touch their 52-week highs of Rs 840 and Rs 136.6 per share respectively. The former has risen 10.6% over the past month, while the latter grew 19.9%.

• Bata India is rising as its net profit grows by 4.2% YoY to Rs 65.6 crore in Q4FY23. Revenue improves by 17% YoY. However, EBITDA margin contracts 100 bps YoY due to increased employee benefits expenses and finance costs. The company appears in a screener of stocks with high volume and high gain.

• Amara Raja Batteries, NMDC and Dixon Technologies’ weekly average delivery volumes rise ahead of their Q4FY23 results on May 23.

• Granules India receives US FDA approval for its abbreviated new drug application for venlafaxine hydrochloride extended-release capsules used to treat major depressive disorder, generalized anxiety disorder, social anxiety disorder and panic disorder. The capsules have annual sales of $153 million in the United States.

• Macquarie maintains its ‘Underperform’ rating on Container Corp of India with a target price of Rs 620. The brokerage says that the company’s margins in Q4 have been weaker than its expectations.

  Brokerage Radar | @Macquarie on @CONTAINERCORP: Maintain Underperform; Key negative this quarter was the weaker-than-expected margin performance pic.twitter.com/1fD3UcGlwj

  — ET NOW (@ETNOWlive) May 19, 2023

• Syrma SGS Technology is rising as its Q4FY23 net profit increases by 61% YoY to Rs 123.1 crore. Its revenue also surges by 63% YoY as domestic demand for EMS (Electronic Manufacturing Services) continues to be robust. It also appears in a screener for companies with sequential improvement in revenue over the past four quarters.

• PI Industries' net profit rises by 37.3% YoY to Rs 280.6 crore and revenue increases 12.2%. Exports contribute significantly to this performance, accounting for 81.8% of the company's consolidated revenue in Q4. The stock appears in a screener for high TTM EPS growth.

• ICICI Dir downgrades its rating on Zydus Wellness to ‘Hold’ from ‘Buy’ with a target price of Rs 1,690. The brokerage attributes the downgrade to the company's low volume growth and market share decline in key categories. It projects a revenue CAGR of 9.9% for FY23-25.

• Gland Pharma hits its all-time low of Rs 1,065.6 per share, with a 72% YoY decline in Q4FY23 net profit to Rs 70 crore. EBITDA margin also drops by 10.1 percentage points YoY due to increased employee benefits expenses. The company appears in a screener for stocks with a low Piotroski score.

• Diwakar Aggarwal, promoter of BLS International Services, sells a 2.7% stake in the company on Thursday in a bulk deal.

• Indian rupee depreciates 11 paise to 82.71 in early trade today amid hawkish commentary from the US Federal Reserve.

  #Rupee opens lower against US dollar pic.twitter.com/hhdvt2t6Ek

  — CNBC-TV18 (@CNBCTV18Live) May 19, 2023

• IT stocks like LTIMindtree, Tech Mahindra, HCL Technologies, Coforge and Infosys are rising in trade. All the constituents of the broader sectoral index Nifty IT are also trading in the green.

• Oil and gas stocks like Adani Total Gas, Indraprastha Gas, GAIL (India) and Gujarat Gas are falling in trade. The broader sectoral index BSE Oil & Gas is also trading in the red.

• Morgan Stanley maintains its 'Overweight’ stance on ITC with a target price of Rs 474. The brokerage says the company’s Q4 results beat their estimates and believes that the improving growth outlook will bode well for the stock's outperformance.

  Brokerage Radar | @MorganStanley on ITC: Maintain Overweight; Q4 earnings ahead of estimates @ITCCorpCom #MorganStanley #StockMarket pic.twitter.com/2EWnyfcv8B

  — ET NOW (@ETNOWlive) May 19, 2023

• Tata Elxi is falling despite a 25.9% YoY growth in Q4FY23 net profit to Rs 201.5 crore. Revenue also increases by 22.9% YoY, aided by improvements in the transportation, healthcare, and media & communications segments. The company appears in a screener for stocks with consistent quarterly revenue growth over the past eight quarters.

• UNO Minda’s Q4FY23 net profit rises 26.5% YoY to Rs 182.7 crore, while its revenue increases by 19.6% YoY. However, its EBITDA margin declines by 36 bps YoY to 11.1% due to the rising cost of raw materials. The stock shows up in a screener for companies with low debt.

• InterGlobe Aviation turns profitable in Q4FY23, reporting a net profit of Rs 919.2 crore compared to a net loss of Rs 1,681.8 crore in Q4FY22. Revenue surges by 76.6% YoY, fueled by rising air travel demand and a 60.5% YoY increase in passenger numbers. CEO Peter Elbers credits the strong results to robust market demand and focused strategy execution.

Riding High:

Largecap and midcap gainers today include Adani Wilmar Ltd. (403.95, 6.87%), Adani Power Ltd. (236.10, 4.91%) and Adani Transmission Ltd. (787.35, 4.76%).

Downers:

Largecap and midcap losers today include Gland Pharma Ltd. (1,065.60, -20.00%), UNO Minda Ltd. (533.05, -5.01%) and Siemens Ltd. (3,722.70, -2.86%).

Volume Rockets

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

Top high volume gainers on BSE included KEC International Ltd. (539.70, 12.37%), The Ramco Cements Ltd. (843.90, 7.97%) and Adani Wilmar Ltd. (403.95, 6.87%).

Top high volume losers on BSE were Gland Pharma Ltd. (1,065.60, -20.00%), UNO Minda Ltd. (533.05, -5.01%) and Gujarat Pipavav Port Ltd. (112.10, -3.11%).

UTI Asset Management Company Ltd. (653.75, 0.77%) was trading at 13.2 times of weekly average. Tata Investment Corporation Ltd. (2,204.00, 3.21%) and G R Infraprojects Ltd. (1,104.00, 2.04%) were trading with volumes 12.2 and 9.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

11 stocks made 52-week highs, while 5 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Carborundum Universal Ltd. (1,200.90, 3.25%), Cyient Ltd. (1,299.75, 0.96%) and Firstsource Solutions Ltd. (134.10, 0.75%).

Stocks making new 52 weeks lows included - Aditya Birla Fashion and Retail Ltd. (190.85, -1.47%) and V-Mart Retail Ltd. (2,059.10, 0.16%).

15 stocks climbed above their 200 day SMA including Oberoi Realty Ltd. (918.45, 3.19%) and JM Financial Ltd. (68.05, 3.03%). 17 stocks slipped below their 200 SMA including Esab India Ltd. (3,510.00, -4.35%) and Honeywell Automation India Ltd. (39,191.05, -2.53%).