Nifty 50 closed at 18,499.35 (178.2, 1.0%), BSE Sensex closed at 62,501.69 (629.1, 1.0%) while the broader Nifty 500 closed at 15,696.75 (141.5, 0.9%). Of the 1,947 stocks traded today, 1,045 were gainers and 843 were losers.
Indian indices closed in the green, with the Nifty 50 closing just below the 18,500 mark. Indian volatility index, Nifty VIX, fell by around 5%. MedPlus Health Services rose almost 17.9% as its Q4 net profit jumped 127% YoY to Rs 27 crore.
Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty PSU Bank and Nifty Media closed sharply above their Thursday’s close. According to Trendlyne’s sector dashboard, Textiles, Apparels & Accessories was the top-performing sector of the day.
Major European indices traded in the red after opening in the green, on a volatile day of trade. However, Asian indices closed in the green, except for China’s Shanghai SE Composite Index, which closed lower. US indices futures traded flat as investors keep an eye on the US debt ceiling talk developments. Brent crude oil futures traded higher after falling nearly 2.7% on Thursday.
Money flow index (MFI) indicates that stocks like Au Small Finance Bank, IndusInd Bank, Dixon Technologies (India) and Sanofi India are in the overbought zone.
Grasim Industries is falling as its Q4FY23 net profit drops 43.7% YoY to Rs 1,368.9 crore due to higher power and fuel expenses and raw material costs. However, the company's revenue rises by 16.2% YoY, driven by strong growth in its key subsidiaries. It appears in a screener for stocks with declining cash flow from operations.
Zee Entertainment Enterprises is rising despite its subdued Q4FY23 results. This comes after the National Company Law Appellate Tribunal (NCLAT) set aside the National Company Law Tribunal’s (NCLT) order directing the exchanges to reconsider the company's merger with Sony.
Mahindra & Mahindra is rising as its Q4FY23 net profit rises by 17.8% YoY to Rs 2,636.7 crore, while its revenue grows 24.8% YoY, led by robust sales volumes and product launches. It shows up in a screener for stocks with revenues increasing sequentially over the past four quarters.
Media stocks like Zee Entertainment, PVR INOX, Sun TV network, Network 18 media and TV18 broadcast are rising in trade. The broader Nifty Media index is also trading in the green.
Aster DM Healthcare's board is expected to review the proposals for the sale of its business in the Gulf Co-operation Council region. Binding bids from potential buyers will likely be received by the end of Q1FY24.
#4QWithCNBCTV18 | Aster DM board shall review the proposals for the sale of the co’s biz in the Gulf Co-operation Council region. Binding bids from potential buyers are likely to be received by the end of Q1 pic.twitter.com/aYYeUU7GNG
— CNBC-TV18 (@CNBCTV18Live) May 26, 2023
Gujarat State Fertilizer & Chemicals is declining as its Q4FY23 consolidated net profit falls 21.2% YoY to Rs 224.9 crore due to a rise in raw material and employee expenses. The firm’s revenue increases 14.8% YoY. It appears in the screener for stocks with undervalued growth stocks.
Karnataka Bank surges as it receives approval from the Reserve Bank of India for the appointment of Srikrishnan Hari Hara Sarma as the Managing Director and Chief Executive Officer of the Bank.
Bharat Electronics' current annual RoE stands at 21.5%, which is higher than it has been in the past five years.
MedPlus Health Services surges almost 20% as its net profit grows 127% YoY to Rs 27 crore in Q4FY23. Revenue improves by 30% YoY, while EBITDA margin expands 110 bps YoY. It shows up in a screener for high-gaining stocks since market open.
FMCG companies like Varun Beverages, Marico, Emami, Dabur India and Hindustan Unilever are rising in trade. All the constituents of the broader sectoral index Nifty FMCG are also trading in the green.
ICICI Direct downgrades its rating on NMDC to ‘Hold’ from ‘Buy’ and lowers the target price to Rs 115 from Rs 140. This implies an upside of 8.9%. The brokerage cites the declining trend in global iron ore prices over the past few months for the downgrade. It expects the company’s revenue to grow at a CAGR of 3% over FY23-25.
GMM Pfaudler is rising as its Q4FY23 consolidated net profit surges 139.8% YoY to Rs 38.4 crore. The firm’s revenue also increases 25.6% YoY on the back of revenue rise in the India and overseas segments. It appears in a screener for stocks with good quarterly growth in recent results.
Tarun Sawhney, Vice-Chairman and Managing Director of Triveni Engineering and Industries, highlights the significant contribution of the ethanol business to the company's growth. He further states that the company's ethanol production capacity is expected to reach 21 crore litres in FY24.
#OnCNBCTV18 | A significant share of the expansion has arisen from the ethanol industry, with the ethanol capacity projected to reach 21 crore litres by FY24 & 31 crore litres by FY25. There is potential for sugar rates to increase up to ?37,000/tonne: Tarun Sawhney, Triveni… pic.twitter.com/et3PjxoPYr
— CNBC-TV18 (@CNBCTV18Live) May 26, 2023
IT stocks like Mphasis, LTIMindtree, HCL Technologies and Coforge are rising in trade. The broader sectoral index Nifty IT is also trading in the green.
Reliance Industries, Varun Beverages, Crisil and Avenue Supermarts are trading above their third resistance or R3 levels.
Aster DM Healthcare is falling as its Q4FY23 net profit falls 24.5% YoY to Rs 139.4 crore, while its revenue rises 19.2% YoY. The drop in profit is due to higher cost of medicines, consumables, and employee benefits expenses. The company features in a screener for stocks with improving book value per share for the past two years.
Praj Industries is rising with a 53% YoY increase in net profit to Rs 88.1 crore in Q4FY23, accompanied by a 140 bps YoY improvement in EBITDA margin. Its revenue grows 21.7% YoY due to robust growth in mobility solutions and sustainable aviation fuel. It appears in a screener of stocks with strong momentum.
Bharat Dynamics is rising despite a 42.2% YoY fall in its Q4FY23 net profit to Rs 152.7 crore. Its revenue also drops by 40% YoY due to delayed delivery of raw materials. It appears in a screener for stocks with revenue and net profit falling quarterly.
CLSA maintains its ‘Buy’ rating on Phoenix Mills with a target price of Rs 1,703. The brokerage estimates a CAGR of 21% in the company's retail rental income over FY23-27.
Brokerage Radar | CLSA on Phoenix Mills: Maintain Buy; Well capitalised to fund growth beyond FY27 #PhoenixMills @CLSAInsights #StockMarket @gophoenixing pic.twitter.com/heIktYUxTJ
— ET NOW (@ETNOWlive) May 26, 2023
Emami is rising despite its Q4FY23 consolidated net profit falling 59.4% YoY to Rs 144.4 crore on the back of higher raw material, staff, and administration expenses. The firm’s revenue rises 6.1% YoY. It appears in a screener for stocks that have been impacted by a weak monsoon.
Vodafone Idea is rising as its net loss contracts marginally by 2.2% YoY to Rs 6,418.9 crore in Q4FY23. Revenue improves by 2.9% YoY, backed by a strong subscriber mix and the addition of 4G subscribers. Its average revenue per user (ARPU) increases to Rs 135 from Rs 124. The company appears in a screener of stocks with improving return on assets (RoA) for the past two years.
Star Health and Allied Insurance Co falls over 5% in trade. Reports suggest that 1.1 crore shares (1.9% equity) of the company, amounting to Rs 594.5 crore, change hands.
Star Health Large Trade | 1.1 Cr Shares (1.9% Equity) Worth ?594.5 Cr Changes Hands at ?550/Sh pic.twitter.com/tmNzBL1WxN
— CNBC-TV18 (@CNBCTV18Live) May 26, 2023
Zee Entertainment Enterprises is rising despite posting a net loss of Rs 196 crore in Q4FY23 as compared to a net profit of Rs 181.9 crore in Q4FY22. Its bottom line drops due to a loss of Rs 123.4 crore from discontinuing operations and an exceptional loss of Rs 90 crore. Its consolidated revenue falls 9.1% YoY as advertisement and subscription revenue dips.
Reports suggest that 1 crore shares (2.3% equity) of PB Fintech (Policy Bazaar), amounting to Rs 616.2 crore, change hands in a large trade.
PB Fintech Large Trade | 1 cr shares (2.3% Equity) worth ?616.2 Ccr changes hands at an avg Rs 605/Sh pic.twitter.com/FzL6lhemwg
— CNBC-TV18 (@CNBCTV18Live) May 26, 2023
AiA Engineering is falling despite its Q4FY23 consolidated net profit rising 37.8% YoY to Rs 268.1 crore on the back of falling freight outward expenses. The firm’s revenue is up 18.1% YoY. It appears in a screener for stocks with high momentum scores.
Page Industries falls as its net profit dips 58.9% YoY to Rs 78.4 crore in Q4FY23, with revenue dropping 12.8% YoY. It comes on the back of lower consumption and higher inventory levels. It appears in a screener of stocks with declining net profit and profit margin YoY.
Steel Authority of India’s Q4FY23 net profit drops 53.2% YoY to Rs 1,159.2 crore as employee expenses rise. Revenue falls by 5.3% YoY on the back of subdued growth in its Rourkela, Bokaro and IISCO steel plants. The company’s EBITDA margin drops 4.1 percentage points YoY to 10%. The stock shows up in a screener for companies with declining net cash flows.
Riding High:
Largecap and midcap gainers today include Info Edge (India) Ltd. (4,197.75, 7.62%), Zee Entertainment Enterprises Ltd. (190.80, 6.68%) and Indus Towers Ltd. (156.65, 6.10%).
Downers:
Largecap and midcap losers today include Page Industries Ltd. (37,501.30, -8.80%), Star Health and Allied Insurance Company Ltd. (534.85, -8.38%) and Adani Transmission Ltd. (850.10, -4.67%).
Crowd Puller Stocks
38 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Medplus Health Services Ltd. (813.10, 17.88%), eClerx Services Ltd. (1,538.30, 9.01%) and Eureka Forbes Ltd. (404.00, 8.12%).
Top high volume losers on BSE were Page Industries Ltd. (37,501.30, -8.80%), Star Health and Allied Insurance Company Ltd. (534.85, -8.38%) and AIA Engineering Ltd. (2,800.45, -3.76%).
Praj Industries Ltd. (374.30, 4.88%) was trading at 18.4 times of weekly average. Prince Pipes & Fittings Ltd. (610.30, 4.23%) and GMM Pfaudler Ltd. (1,447.95, -1.75%) were trading with volumes 9.9 and 9.1 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 4 stocks were underachievers and hit their 52-week lows.
Stocks touching their year highs included - Apollo Tyres Ltd. (392.50, 0.85%), Bajaj Auto Ltd. (4,615.95, -0.60%) and Balkrishna Industries Ltd. (2,438.70, -0.29%).
Stocks making new 52 weeks lows included - Zee Entertainment Enterprises Ltd. (190.80, 6.68%) and Page Industries Ltd. (37,501.30, -8.80%).
16 stocks climbed above their 200 day SMA including JM Financial Ltd. (71.30, 6.66%) and Macrotech Developers Ltd. (1,020.25, 5.40%). 8 stocks slipped below their 200 SMA including Vardhman Textiles Ltd. (321.80, -1.67%) and APL Apollo Tubes Ltd. (1,128.35, -1.64%).
