Trendlyne Marketwatch
Trendlyne Marketwatch
15 Dec 2023
Market closes higher, HDFC Sec maintains its 'Buy' rating on Star Cement
By Trendlyne Analysis

 

Nifty 50 closed at 21,456.65 (274.0, 1.3%), BSE Sensex closed at 71,483.75 (969.6, 1.4%) while the broader Nifty 500 closed at 19,145.05 (171.2, 0.9%). Market breadth is horizontal. Of the 1,983 stocks traded today, 982 showed gains, and 966 showed losses.

Indian indices extended the gains from the afternoon session and closed in the green, with the Nifty 50 closing at 21,449. The volatility index, Nifty VIX, rose by 7.8% and closed at 13.3 points. Bharat Electronics received orders worth Rs 4,878 crore from the Indian Army. The orders involved the supply of fuses for various calibers and electronic warfare systems.

Nifty Midcap 100 closed flat, while Nifty Smallcap 100 closed higher, following the benchmark index. Nifty Metal and Nifty IT closed higher than Thursday’s closing level. According to Trendlyne’s sector dashboard, software & services emerged as the top-performing sector of the day, with a rise of over 4%. 

Most European indices trade in the green, except for England’s FTSE 100 and Switzerland’s SMI trading in the red. US indices futures trade higher, indicating a positive start. Data released by Hamburg Commercial Bank indicated that the Eurozone’s manufacturing PMI for December contracted to 44.2 against estimates of 44.6.

  • Relative strength index (RSI) indicates that stocks like Power Finance Corp, Container Corp of India, Trent and Birlasoft are in the overbought zone.

  • Bharat Electronics rises to an all-time high of Rs 170.2 as it receives orders worth Rs 4,878 crore from the Indian Army. The orders involve the supply of fuses for various calibres and electronic warfare systems. The company appears in a screener of stocks with growing net profit and margins.

  • Titan is rising as its wholly owned subsidiary, Titan North America, announces a strategic investment by acquiring a 10% stake in US-based CueZen for $ 3.5 million (Rs 29 crore) in an all-cash deal.

  • Sunflag Iron rises more than 11% as it receives a letter of intent from the Government of Maharashtra for licensing six iron ore blocks. These blocks, spanning 658 hectares, are located in the Gadchiroli district of the state.

  • India’s merchandise trade deficit narrows to $20.6 billion in November due to higher imports. Merchandise exports stand at $33.9 billion in October, and imports at $54.5 billion.

  • DOMS Industries' Rs 1,200 crore IPO gets bids for 51.3X the available 87.6 lakh shares on offer on the third day of bidding. The retail investor quota gets bids for 62.8X the available 15.9 lakh shares on offer.

  • India Shelter Finance Corp's Rs 1,200 crore IPO gets bids for 16.4X the available 1.8 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 8.4X the available 89.6 lakh shares on offer.

  • Inox India's Rs 1,459.3 crore IPO gets bids for 5.6X the available 1.6 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 6.8X the available 77.4 lakh shares on offer.

  • India’s domestic air traffic grows by 9% YoY in November, with airlines carrying 127 lakh passengers, according to DGCA data. IndiGo’s market share falls by 80 bps to 61.8%, while Air India’s stands at 10.5%

  • Samvardhana Motherson International's board of directors approves the acquisition of a 100% stake in Lumen Group for $93 million (approx. Rs 773.7 crore) by its subsidiary, Samvardhana Motherson Automotive Systems Group BV.

  • IT stocks like HCL Technologies, Persistent Systems, Coforge and Infosys surge more than 3% in trade. All constituents of the broader Nifty IT index are also trading in the green, helping it to surge more than 3%.

  • HDFC Securities maintains its 'Buy' rating on Star Cement with a target price of Rs 190 per share. This implies an upside of 5.6%. The brokerage believes that the company's expansion in Northeast India will increase volumes. It expects the company's net profit to grow at a CAGR of 16.7% over FY23-26.

  • Foreign institutional investors invest Rs 12,754.4 crore in the equity market over the past week, according to Trendlyne's FII dashboard. Index options witness the highest outflow of Rs 1.2 lakh crore from foreign investors. Meanwhile, mutual funds invest Rs 1,490.2 crore in the equity market over the same period.

  • Anil Gupta, CMD of KEI Industries, says there is robust demand in the cables segment compared to wires. He adds that the company’s revenue will grow by 18% in FY24, with margins of around 11%.

  • Cipla announces an investment of Rs 42 crore in GoAppitiv, a digital tech company, in exchange for equity and convertible preference shares. This will increase Cipla’s stake to 22.9% in GoAppitiv. Cipla appears in a screener of companies with low debt.

  • J Kumar Infraprojects surges more than 6% to touch its all-time high of Rs 482.9 per share as it bags an order worth Rs 582.7 crore. The order is for the construction and maintenance of a four-lane elevated corridor in Chennai.

  • Starlight Systems and Satguru Infocorp, promoters of Sunteck Realty, sell a 2.1% stake each in the company on Wednesday.

  • Reports suggest that around 22.9 lakh shares (2.3% equity) of PVR INOX, amounting to Rs 401 crore, change hands in a large trade.

  • Infibeam Avenues rises to an all-time high of Rs 24.2 as it acquires a 49% stake in Pirimid Fintech for Rs 25 crore. With this acquisition, the company plans to enter the capital and digital lending market. The company appears in a screener of stocks with strong momentum.

  • Adani Enterprises rises as Israel's Elbit Systems buys a 44% stake in Adani Defence Systems and Technologies' unit Atharva Advanced Systems and Technologies. The subsidiary will assist Elbit Systems in developing and manufacturing various autonomous aerial technologies.

  • Hero MotoCorp is rising as its board approves the acquisition of a 3% stake in Ather Energy for Rs 140 crore from existing shareholders. This increases Hero MotoCorp’s stake from 36.7% to 39.7%.

  • KFin Technologies falls sharply as 3.3 crore shares (20% equity), amounting to Rs 1,650 crore, change hands, according to reports.

  • Sterling and Wilson Renewable Energy surges to its 52-week high of Rs 445.3 per share as it receives a $30.5 million (approximately Rs 254.2 crore) settlement from Jinko Solar.

  • Jupiter Wagons rises as it bags an order worth Rs 1,617 crore from the Ministry of Railways. The order involves manufacturing and supplying 4,000 railway wagons. The company appears in a screener of stocks with improving book value per share.

  • Texmaco Rail and Engineering rises to an all-time high of Rs 179.9 as it bags an order worth Rs 1,374.4 crore from the Ministry of Railways. The order involves manufacturing and supplying 3,400 railway wagons. The company appears in a screener of stocks with high TTM EPS growth.

  • Genus Power Infrastructures surges more than 4% as its subsidiary receives a letter of intent (LoI) worth Rs 1,026.3 crore for becoming an advanced metering infrastructure service provider (AMISP). As an AMISP, the company will design an AMI system, including the supply, installation and commissioning of 5 lakh smart prepaid meters.

Riding High:

Largecap and midcap gainers today include HCL Technologies Ltd. (1,491.30, 5.42%), Persistent Systems Ltd. (7,224.85, 5.33%) and Tata Consultancy Services Ltd. (3.861.00, 5.28%).

Downers:

Largecap and midcap losers today include Max Financial Services Ltd. (973.90, -4.36%), Bajaj Holdings & Investment Ltd. (7,969.80, -4.27%) and JSW Energy Ltd. (434.75, -3.60%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included JM Financial Ltd. (101.15, 13.52%), Zensar Technologies Ltd. (593.60, 10.96%) and Jubilant Pharmova Ltd. (509.95, 10.75%).

Top high volume losers on BSE were 360 One Wam Ltd. (669.95, -5.31%), Max Financial Services Ltd. (973.90, -4.36%) and Finolex Industries Ltd. (211.25, -1.05%).

HFCL Ltd. (74.10, 9.37%) was trading at 13.8 times of weekly average. HEG Ltd. (1,818.10, 4.34%) and Deepak Nitrite Ltd. (2,306.35, 1.61%) were trading with volumes 9.0 and 8.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

90 stocks made 52 week highs,

Stocks touching their year highs included - Bajaj Auto Ltd. (6,275.20, -0.94%), Bajaj Finserv Ltd. (1,733.15, 0.13%) and Bank of Baroda (224.70, 2.09%).

6 stocks climbed above their 200 day SMA including Westlife Foodworld Ltd. (851.15, 1.91%) and Procter & Gamble Health Ltd. (5,063.55, 1.64%). 4 stocks slipped below their 200 SMA including Dabur India Ltd. (539.70, -1.42%) and Aarti Drugs Ltd. (472.85, -1.37%).

 
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