Trendlyne Marketwatch
Trendlyne Marketwatch
15 Jan 2024
Market closes higher, PCBL's net profit grows by 20.6% YoY to Rs 147.9 crore in Q3FY24
By Trendlyne Analysis

 

Nifty 50 closed at 22,097.45 (202.9, 0.9%), BSE Sensex closed at 73,327.94 (759.5, 1.1%) while the broader Nifty 500 closed at 19,885.55 (140.0, 0.7%). Market breadth is balanced. Of the 2,061 stocks traded today, 1,004 were on the uptrend, and 1,036 went down.

Indian indices extended their gains from the afternoon session and closed in the green, with the Nifty 50 and Sensex closing at all-time highs of 22,097.5 and 73,327.9 respectively. The volatility index, Nifty VIX, rose by 5.3% and closed at 13.8 points. 

Nifty Midcap 100 and Nifty Smallcap 100 closed higher following the benchmark index. Nifty IT and Nifty PSU Bank closed higher than their Friday close. According to Trendlyne’s sector dashboard, Telecom Services emerged as the top-performing sector of the day, with a rise of over 2.2%. 

Most major Asian indices closed in the green, except for China’s FTSE China 50 index closing in the red. However, European indices traded flat or lower amid mixed global cues. US index futures traded flat, indicating a cautious start. Brent crude oil futures traded in the red after closing marginally lower on a volatile day on Friday.

  • Oil And Natural Gas Corp sees a long buildup in its January 25 future series as its open interest rises 26.4% with a put-call ratio of 0.6.

  • Oracle Financial Services, LTIMindtree, and Happiest Minds Technologies rise by 13.9%, 6.3% and 4.5%, respectively, ahead of their Q3FY24 results on Wednesday.

  • NBCC is rising as its subsidiary, HSCC (India), bags an order worth Rs 76.6 crore from the Central Council for Research in Yoga & Naturopathy.

  • Nelco falls despite its Q3FY24 net profit improving by 23% YoY to Rs 6.2 crore due to lower inventory expenses. Its revenue grows by 12.1% YoY. The company appears in a screener of stocks with improving quarterly net profit and margin.

  • PCBL surges to its all-time high of Rs 287.7 as its net profit grows by 20.6% YoY to Rs 147.9 crore in Q3FY24. Revenue rises by 21.5% YoY, helped by an improvement in the carbon black and power segments. It shows up in a screener of affordable stocks with high return on equity (RoE) and momentum.

  • Lexdale International sells a 0.9% stake in FSN E-Commerce Ventures (Nykaa) for approx Rs 495.5 crore in a bulk deal on Friday.

  • Medi Assist Healthcare Services' Rs 1,171.6 crore IPO gets bids for 0.2X the available 2 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 0.4X the available 98.1 lakh shares on offer.

  • Hampton Sky Realty receives all pending approvals to begin the construction of Hampton Narayana Super Speciality Hospital in Chandigarh. The company expects a capex of Rs 200 crore for the project.

  • Zomato falls over 3% as 4.5 crore shares (0.5% equity), amounting to Rs 622 crore, reportedly change hands in a block deal.

  • Titagarh Rail Systems rises as it launches its 25-tonne Bollard pull tug with a wide range of applications for Indian Naval vessels. It appears in a screener of stocks nearing their 52-week high with significant volumes.

  • Avenue Supermarts is rising as its net profit grows by 17.1% YoY to Rs 690.6 crore in Q3FY24. Revenue also increases by 17.3% YoY to Rs 13,572.5 crore in the same period. It features in a screener of stocks where brokers have upgraded their recommendation or target price in the past three months.

  • Lupin rises as it receives US FDA approval for its abbreviated new drug application for Propranolol Hydrochloride capsules. The drug is used for the treatment of hypertension and has a market size of $71 million (approx. Rs 588.4 crore) in the USA.

  • India’s WPI inflation rises to a nine-month high of 0.7% in December, compared to 0.3% in November. This is due to increased prices of food articles, machinery & equipment, other transport equipment & computers, and electronics & optical products.

  • SpiceJet is falling even as the Bombay Stock Exchange approves a Rs 2,242 crore fund infusion by issuing equity shares and warrants convertible into shares on a preferential basis.

  • Man Industries (India) rises to an all-time high of Rs 378.9 as it bags orders worth Rs 400 crore from domestic and international clients. The order involves manufacturing and supply of pipes over the next six months.

  • Just Dial rises to its 52-week high of Rs 949.4 as its net profit grows by 28.2% QoQ to Rs 92 crore in Q3FY24. Its revenue improves by 1.7%, while EBITDA margin expands by 520 bps QoQ owing to reduced employee benefit expenses. The company appears in a screener of stocks with increasing revenue for the past eight quarters.

  • Subir Malhotra, Executive Director & CFO of Capacit'e Infraprojects, says that the company has issued a Rs 200 crore QIP to capitalize on growth opportunities. He highlights the company's target to achieve an order inflow of Rs 2,000 crore in FY24 and a 25% CAGR revenue growth over the next five years.

  • Tata Consumer Products falls despite its board agreeing to acquire a 100% stake in Capital Foods for Rs 7,000 crore in two separate deals. It appears in a screener of stocks with low debt.

  • Porinju Veliyath buys a 1.6% stake in Kerala Ayurveda in Q3FY24. He now holds a 4.8% stake in the company.

  • Wipro rises to a new 52-week high of Rs 529 as its Q3FY24 net profit grows by 1.8% QoQ to Rs 2,694.2 crore due to lower inventory, employee benefit, and sub-contracting & technical fees expenses. However, its revenue falls by 1.4% QoQ on lower income from Europe and Asia-Pacific, Middle-East & Africa (APMEA) regions.

  • HSBC reports India's December CPI inflation at 5.7% YoY and anticipates it to ease in January due to winter disinflation in food prices. The brokerage expects the RBI to keep rates on hold for several months and adds that any rate cuts in mid-2024 will be minimal. HSBC also states that November industrial production has contracted sequentially.

  • Bharat Heavy Electricals is rising as it receives a letter of award worth Rs 15,000 crore for an EPC package for three 800 MW NLC Talabira Thermal Power Projects. The contract includes equipment supply and project commissioning.

  • Ashish Kacholia sells a 1.5% stake in ADF Foods in Q3FY24. He now holds a 1.2% stake in the company.

  • Dolly Khanna cuts stake in Monte Carlo Fashions and Som Distilleries & Breweries to below 1% in Q3FY24. In Q2FY24, she held 1.9% and 1.1% stakes in the companies respectively.

  • HCL Technologies rises over 3% as its net profit grows by 13.5% QoQ to Rs 4,350 crore in Q3FY24. Revenue also increases by 6.6% QoQ, owing to an improvement in IT & business, engineering & R&D and HCL software services. It appears in a screener of stocks with increasing net profit and profit margin (QoQ).

Riding High:

Largecap and midcap gainers today include Indian Railway Finance Corporation Ltd. (130.10, 14.73%), Oracle Financial Services Software Ltd. (5,070.55, 8.89%) and Wipro Ltd. (494.60, 6.26%).

Downers:

Largecap and midcap losers today include Zomato Ltd. (133.40, -4.41%), FSN E-Commerce Ventures Ltd. (179.85, -4.13%) and HDFC Life Insurance Company Ltd. (614.45, -3.63%).

Volume Rockets

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

Top high volume gainers on BSE included Indian Railway Finance Corporation Ltd. (130.10, 14.73%), Oracle Financial Services Software Ltd. (5,070.55, 8.89%) and SJVN Ltd. (102.50, 8.87%).

Top high volume losers on BSE were HDFC Life Insurance Company Ltd. (614.45, -3.63%), J B Chemicals & Pharmaceuticals Ltd. (1,657.95, -1.58%) and Supreme Industries Ltd. (4,158.60, -1.38%).

Procter & Gamble Hygiene & Healthcare Ltd. (17,283.50, 0.41%) was trading at 37.0 times of weekly average. Mas Financial Services Ltd. (946.95, 8.36%) and Wipro Ltd. (494.60, 6.26%) were trading with volumes 14.1 and 8.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

80 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (26,230.00, 1.87%), Alembic Pharmaceuticals Ltd. (943.55, 7.15%) and Apollo Hospitals Enterprise Ltd. (5,896.40, 1.74%).

5 stocks climbed above their 200 day SMA including Privi Speciality Chemicals Ltd. (1,141.00, 3.65%) and Hindustan Unilever Ltd. (2,573.20, 1.15%). 2 stocks slipped below their 200 SMA including HDFC Life Insurance Company Ltd. (614.45, -3.63%) and ICICI Prudential Life Insurance Company Ltd. (522.20, -1.46%).

 
More from Trendlyne Marketwatch
Recommended
Capital markets consider India as US turns volatile | Screener: Stocks with high debt and interest payments
The Baseline | 28 May 2025, 11:08PM
Market closes lower, Granules India's Q4 net profit beats Forecaster estimates by 22.6%
Trendlyne Marketwatch | 28 May 2025, 04:03PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021