Trendlyne Marketwatch
Trendlyne Marketwatch
13 Dec 2023
Market closes flat, Titagarh Rail Systems raises Rs 699 crore from qualified institutional buyers
By Trendlyne Analysis

Nifty 50 closed at 20,926.35 (20.0, 0.1%),  BSE Sensex closed at 69,584.60 (33.6, 0.1%) while the broader Nifty 500 closed at 18,751.45 (64.7, 0.4%), of the 1,983 stocks traded today, 1,108 showed gains, and 838 showed losses.

Indian indices recovered from the day’s low and closed flat with the Nifty 50 closing at 20,926. The volatility index, Nifty VIX, dropped by 5.1% and closed at 12.1 points. Laurus Labs received Form 483 from the US FDA with five observations for its Andhra Pradesh manufacturing plant.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher with the benchmark index closing flat. Nifty Realty and Nifty Pharma closed higher than Tuesday’s closing level. According to Trendlyne’s sector dashboard, transportation emerged as the top-performing sector of the day, with a rise of over 1.6%.

Most European indices trade in the green. US indices futures trade higher indicating a positive start. The data released by the UK’s Office for National Statistics indicated that Britain’s manufacturing production for October contracted by 1.1% MoM against an estimated 0% increase.

  • Money flow index (MFI) indicates that stocks like Power Finance Corp, Container Corp of India, Trent and Bharat Dynamics are in the overbought zone.

  • Aether Industries, Piramal Enterprises and Redington underperform their industry by more than 15% in the past month.

  • Fertilizers, forest materials, media and telecommunications equipment sectors rise more than 5% in the past week.

  • Titagarh Rail Systems trades marginally higher as it completes raising Rs 699 crore from qualified institutional buyers. The company has issued 75 lakh equity shares at Rs 933 per share.

  • Granules India falls despite receiving US FDA approval for its Pantoprazole Sodium Tablets, used to treat acid reflux. The company appears in a screener of stocks with declining net cash flow.

  • India’s Index of Industrial Production (IIP) grows to a 16-month high of 11.7% in October, up from 5.8% in September, led by robust growth in the manufacturing, mining and electricity sectors.

  • Mahindra & Mahindra acquires 58.6 lakh shares of Emergent Solren, an arm of Mahindra Holdings, for Rs 288 crore. After the transaction, Mahindra & Mahindra will hold a 60% stake in the company.

  • Allcargo Terminal falls as its monthly container freight station (CFS) volumes fall by 13% MoM to 47,100 twenty-foot equivalent units (TEUs). The company appears in a screener of stocks with declining net profit and margins.

  • India Shelter Finance Corp's Rs 1,200 crore IPO gets bids for 0.8X the available 1.8 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 1.2X the available 89.6 lakh shares on offer.

  • Amit Chadha, MD and CEO of L&T Technology Services, expects the company to deliver its revenue growth guidance of 17.5-18.5% in FY24. He adds that it is on track to achieve a 17% margin. Chadha notes that the multi-year engineering services partnership with London-based oil & gas company, BP, will contribute to FY24's revenue.

  • DOMS Industries' Rs 1,200 crore IPO gets bids for 3.4X the available 87.6 lakh shares on offer on the first day of bidding. The retail investor quota gets bids for 12.8X the available 15.9 lakh shares on offer.

  • Shalby is falling as its board of directors approves a new standby letter of credit (SBLC) facility for Rs 170 crore from ICICI Bank. The loan amount will be used to guarantee the scheduled principal and interest payments of its US subsidiary, Shalby Advanced Technologies.

  • Mankind Pharma rises as Kotak Funds India Midcap Fund buys 20.3 lakh shares at an average price of Rs 1,832.3, totalling to Rs 371.8 crore. Meanwhile, Beige, a subsidiary of Chrys Capital, sells 1.8 crore shares amounting to Rs 3,282 crore and HEMA CIPEF offloads 56.3 lakh shares for Rs 1,031.2 crore.

  • Muthoot Microfin sets its IPO price band at Rs 277-291 per share. The issue, valued at Rs 960 crore, comprises of a fresh issue of Rs 760 crore and an offer for sale of Rs 200 crore. The issue opens on December 18.

  • Ashok Leyland rose marginally after introducing two new hydrogen-based engines, designed to reduce the total cost of ownership for original equipment manufacturers.

  • HPL Electric & Power rises as it bags an order worth Rs 545 crore to supply smart meters. The company appears in a screener of stocks with growing quarterly net profit and margins.

  • DOMS Industries raises Rs 537.8 crore from anchor investors ahead of its IPO by allotting around 68.1 lakh shares at Rs 790 each. Investors include Goldman Sachs, Fidelity Funds, Ashoka Whiteoak Emerging Markets, Abu Dhabi Investment Authority, SBI Mutual Fund and Tata AIA Life Insurance.

  • V P Nandakumar, Managing Director of Manappuram Finance, projects a 7-8% growth in gold loans and around 20% in consolidated loans for FY24. He notes the current cost of funds at 8.5% and expects a 20bps increase.

  • Dow Jones includes UPL in its Sustainability World and Emerging Markets Indices due to its outstanding performance in the S&P Global 2023 Corporate Sustainability Assessment.

  • Shilpa Medicare rises as it receives approval from TGA Australia to manufacture, label, package and test medicinal Oral Mouth Dissolving Films. The company appears in a screener of stocks with increasing profits for the past two quarters.

  • Plutus Wealth Management buys a 0.9% stake in Zee Entertainment Enterprises in a bulk deal on Tuesday.

  • India’s CPI inflation rises to a three-month high of 5.5% in November from 4.9% in October due to higher food prices. Food inflation has increased to 8.7% from 6.6% in October.

  • SBI Mutual Fund buys 1.5% stake in Karur Vysya Bank for approx Rs 194.4 crore in a bulk deal on Tuesday.

  • Laurus Labs falls over 3% after receiving Form 483 from the US FDA with five observations. This comes after the FDA's inspection of the drug manufacturer's facility in Andhra Pradesh from December 4 to December 12.

  • Reliance Industries trades flat as it invests Rs 418 crore in five subsidiaries of Mercury Holdings, a joint venture between Brookfield Infrastructure and Digital Realty. Reliance Industries appears in a screener of stocks with low debt.

  • Indian Bank is rising as its board of directors approves to issue equity shares worth Rs 4,000 crore through a qualified institutional placement (QIP). The shares, with a face value of Rs 10 each, have been set at a floor price of Rs 414.4 per share.

Riding High:

Largecap and midcap gainers today include REC Ltd. (444.80, 8.97%), Power Finance Corporation Ltd. (421.80, 8.24%) and Bajaj Holdings & Investment Ltd. (8,233.10, 5.04%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (1,004.55, -9.84%), Adani Energy Solutions Ltd. (1,030.90, -5.35%) and Bank of India (112.15, -3.07%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Tanla Platforms Ltd. (1,090.90, 17.92%), NLC India Ltd. (207.20, 9.69%) and REC Ltd. (444.80, 8.97%).

Top high volume losers on BSE were Sunteck Realty Ltd. (476.95, -4.50%), Bank of India (112.15, -3.07%) and PI Industries Ltd. (3,426.85, -1.64%).

Vaibhav Global Ltd. (404.15, 2.73%) was trading at 8.2 times of weekly average. Sheela Foam Ltd. (1219.15, 4.33%) and KPIT Technologies Ltd. (1,474.95, 2.95%) were trading with volumes 5.8 and 4.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

48 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bajaj Auto Ltd. (6,316.10, 0.99%), Bank of Baroda (221.05, 2.29%) and Bharat Electronics Ltd. (162.85, 1.27%).

9 stocks climbed above their 200 day SMA including VIP Industries Ltd. (653.15, 6.36%) and Biocon Ltd. (249.30, 4.46%). 3 stocks slipped below their 200 SMA including Devyani International Ltd. (182.45, -1.48%) and G R Infraprojects Ltd. (1,179.95, -1.21%).

 
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