Trendlyne Marketwatch
Trendlyne Marketwatch
01 Apr 2024
Market closes higher, Tata Motors' total wholesales for FY24 rise 2% YoY
By Trendlyne Analysis

 

Nifty 50 closed at 22,462 (135.1, 0.6%), BSE Sensex closed at 74,014.55 (363.2, 0.5%) while the broader Nifty 500 closed at 20,492.55 (237.4, 1.2%). Market breadth is overwhelmingly positive. Of the 2,142 stocks traded today, 1,890 were gainers and 236 were losers.

Indian indices maintained the gains from the afternoon session and closed in the green. The volatility index, Nifty VIX, dropped by 5.8% and closed at 12.1 points. Mahindra & Mahindra's total wholesales for FY24 rose 18.1% YoY to 8.3 lakh units. Passenger vehicle wholesales grew by 28% YoY, while exports fell 23% YoY. 

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Realty and Nifty Media closed higher than Thursday’s closing level. According to Trendlyne’s sector dashboard, telecommunication equipment emerged as the top-performing sector of the day, with a rise of over 6.8%. 

European markets are closed on account of Easter. US indices futures trade higher, indicating a positive start. Brent crude prices traded above $86.5 per barrel as China’s manufacturing activity for March expanded for the first time in the past six months.

  • Info Edge (India) sees a long buildup in its April 25 future series as its open interest rises 15.1% with a put-call ratio of 0.7.

  • Tata Motors' total wholesales for FY24 rise 2% YoY to 9.5 lakh units. Total commercial vehicle wholesales fall 4% YoY, while passenger vehicle wholesales grow 6% YoY.

  • EIH rises as its board approves the construction of an Oberoi Luxury Resort in South Goa, estimating an investment of Rs 421 crore.

  • Mukka Proteins is rising as it bags an order worth Rs 50.4 crore from Every Light Oil Industrial and Uni Best General Trading to supply fish meal.

  • Hindustan Foods rises more than 5% as its arm KNS Shoetech enters into an agreement to acquire three manufacturing units of SSIPL Retail for Rs 77 crore. With this, the company plans to expand its presence in the sports shoe manufacturing space.

  • Eicher Motors is falling as its exports decline by 23% YoY to 9,507 units in March. However, the company's March wholesales rise 5% YoY to 75,551 units.

  • Realty stocks like Sunteck Realty, Prestige Estates Projects, DLF and Mahindra Lifespace Developers surge more than 5%, helping the broader Nifty Realty index touch its 52-week high of 935.7.

  • Stocks like JSW Steel, Tata Steel, Shriram Finance and Adani Ports & SEZ rise more than 2% in trade, helping the broader Nifty 50 index touch its all-time high of 22,520.

  • Hindustan Aeronautics rises as it signs a Rs 1,173 crore contract with Cochin Shipyard to supply six sets of LM2500 gas turbines (GT) & GT auxiliaries, spares, and tools for Indian Navy's Next Generation Missile Vessel (NGMV) project, slated for execution from FY26 to FY29.

  • Datamatics Global Services rises sharply as its board approves the acquisition of Dextara Digital for Rs 143 crore.

  • Bank of India receives a Rs 1,127.7 crore tax demand from the Income Tax Department for unpaid taxes in FY17.

  • Mahindra & Mahindra's total wholesales for FY24 rise 18.1% YoY to 8.3 lakh units. Passenger vehicle wholesales grow by 28% YoY, while exports fall 23% YoY.

  • The Electric Mobility Promotion Scheme 2024 (EMPS 2024) has been rolled out for April to July 2024, focusing on promoting the purchase of electric 2 and 3-wheelers with a Rs 500 crore outlay. This scheme replaces the Centre's Faster Adoption and Manufacturing of Electric Vehicles II (FAME II) scheme.

  • PG Electroplast is rising as its arm PG Technoplast receives approval for the disbursement of PLI incentives worth Rs 15 crore for AC components.

  • Rail Vikas Nigam rises sharply as it bags three orders worth Rs 303.8 crore to design, supply, test and commission power lines and electric traction system in Bihar and Kharagpur.

  • NCC rises as it receives new orders worth Rs 3,086 crore in March 2024 from state government entities and private companies. The orders are for the electrical, transportation and building divisions.

  • Morgan Stanley predicts a gradual recovery in the Indian IT sector, supported by the technology cycle in the first and second quarters of the next fiscal year. It forecasts 7–8% annual revenue growth for major Indian IT firms over FY24-26. The firm rates L&T Technology Services, Wipro, and Tech Mahindra as 'Underweight', while Infosys, TCS, HCL Tech, and Coforge are 'Overweight'.

  • Megha Chopra and Usha Chopra, promoters of RateGain Travel Technologies, sell around a 3% stake in the open market on Thursday.

  • Adani Ports & Special Economic Zone rises as FY24 cargo volume rises 24% YoY to 420 million metric tonnes (MMT), exceeding the guidance of 370 MMT.

  • G M Breweries surges as its board of directors informs the exchanges about its intent to issue bonus shares to its equity shareholders. The board will meet on Thursday to consider the proposal.

  • BoFA upgrades Tata Technologies to 'Buy' with a target price of Rs 1,250. The brokerage anticipates that the company will benefit from its client concentration. It also highlights growth prospects in the aerospace and automotive segments for FY25.

  • Cloverdell Investment sells a 2.3% stake in IDFC First Bank for approx Rs 1,195.2 crore in a bulk deal on Thursday.

  • Prestige Estates Projects rises sharply as it signs a Rs 2,001 crore deal with Abu Dhabi Investment Authority (ADIA) and Kotak AIF to develop residential projects in four Indian cities.

  • SBI Life Insurance receives a Rs 5,317.2 crore tax demand for FY23 from the Income Tax Department.

  • Torrent Power rises sharply as it receives a Rs 1,835 crore order from its distribution unit to set up 150 MW grid-connected wind-solar hybrid projects.

  • Nifty 50 was trading at 22,511.75 (184.9, 0.8%), BSE Sensex was trading at 74,079.03 (427.7, 0.6%) while the broader Nifty 500 was trading at 20,473.10 (218.0, 1.1%).

  • Market breadth is ticking up strongly. Of the 1,936 stocks traded today, 1,720 were gainers and 160 were losers.

Riding High:

Largecap and midcap gainers today include Adani Energy Solutions Ltd. (1,112, 8.3%), Indus Towers Ltd. (315.20, 8.3%) and Indian Overseas Bank (64.75, 8.0%).

Downers:

Largecap and midcap losers today include CG Power and Industrial Solutions Ltd. (514.25, -4.9%), Sona BLW Precision Forgings Ltd. (684.20, -3.1%) and JSW Energy Ltd. (518.45, -2.0%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included PNB Housing Finance Ltd. (749.30, 19.0%), Welspun Living Ltd. (154.60, 12.4%) and KRBL Ltd. (309.60, 11.6%).

Top high volume losers on BSE were Crisil Ltd. (4,956.40, -2.2%), Westlife Foodworld Ltd. (801, -0.4%) and Sundram Fasteners Ltd. (1,090, -0.3%).

BASF India Ltd. (3,551.45, 6.4%) was trading at 8.0 times of weekly average. Cochin Shipyard Ltd. (968.30, 11.1%) and Tejas Networks Ltd. (728.50, 11.0%) were trading with volumes 6.0 and 4.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

38 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,375.90, 2.5%), Ambuja Cements Ltd. (621.50, 1.5%) and BASF India Ltd. (3,551.45, 6.4%).

Stock making new 52 weeks lows included - Vinati Organics Ltd. (1,467, -0.2%).

34 stocks climbed above their 200 day SMA including PNB Housing Finance Ltd. (749.30, 19.0%) and Sunteck Realty Ltd. (425.90, 9.4%). 4 stocks slipped below their 200 SMA including Finolex Cables Ltd. (977, -2.4%) and Metro Brands Ltd. (1,129.55, -2.1%).

 
More from Trendlyne Marketwatch
Recommended
Five stocks to buy from analysts this week - June 03, 2025
The Baseline | 03 Jun 2025, 04:42PM
IPOs This Week: Prostarm, Scoda Tubes Plus Six Listings, and A New Issue
| 02 Jun 2025, 04:29PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021