Trendlyne Marketwatch
Trendlyne Marketwatch
15 May 2024
Market closes flat, Power Finance Corp's net profit grows by 20.3% YoY to Rs 5,624.4 crore in Q4
By Trendlyne Analysis

 

Nifty 50 closed at 22,200.55 (-17.3, -0.1%), BSE Sensex closed at 72,987.03 (-117.6, -0.2%) while the broader Nifty 500 closed at 20,741.85 (58.1, 0.3%). Of the 2,133 stocks traded today, 1.235 were gainers and 838 were losers.

Indian indices maintained the losses from the morning session and closed flat. The volatility index, Nifty VIX, rose by 0.3% and closed at 20.3 points. Colgate-Palmolive’s net profit missed Forecaster estimates by 5.3% despite growing by 20.1% YoY to Rs 379.8 crore in Q4FY24. Revenue increased by 10.3% YoY to Rs 1,512.7 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher with the benchmark index closing flat. Nifty Realty and Nifty PSU Bank closed higher than Tuesday’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 5.4%.

Most European indices trade in the green, except for France’s CAC 40 trading lower. US indices futures trade flat, indicating a cautious start. Eurozone’s industrial production in March increased by 0.6% MoM against estimates of 0.5% growth.

  • Shree Cements sees a long buildup in its May 30 future series as its open interest rises 19.3% with a put-call ratio of 0.4.

  • Colgate-Palmolive (India) falls sharply as its net profit misses Forecaster estimates by 5.3% despite growing by 20.1% YoY to Rs 379.8 crore in Q4FY24. Revenue increases by 10.3% YoY to Rs 1,512.7 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding in the past quarter.

  • Asahi India Glass rises as its net profit grows by 7.2% YoY to Rs 73.9 crore in Q4FY24, owing to lower raw material and inventory costs. Revenue increases by 3% YoY to Rs 1,105 crore, helped by an improvement in the automotive glass segment. It shows up in a screener of stocks near their 52-week highs with significant volumes.

  • Jyothy Laboratories falls sharply as its net profit misses Forecaster estimates by 8.1% despite growing by 32.4% YoY to Rs 78.2 crore in Q4FY24, helped by lower inventory and finance costs. Revenue increases by 7% YoY to Rs 660 crore, driven by improvements in the fabric care, dishwashing, and personal care segments. It features in a screener of stocks underperforming their industries in the past quarter.

  • Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF, anticipates FY25 sales to be in the range of Rs 17,000-Rs 18,000 crore. He says that the launch of Privana was postponed to FY25 due to regulatory delays. Ohri also expects the company's Mumbai project to be launched in either Q3 or Q4 of FY25.

  • Manali Petrochemicals rises as its UK-based arm, PennWhite, and KRAHN UK ink a long-term agreement to distribute silicone oil in the UK and Ireland markets.

  • Go Digit General Insurance's Rs 2,614.7 crore IPO gets bids for 0.2X the available 5.3 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 1X the available 92.1 lakh shares on offer.

  • Granules India reappoints Krishna Prasad Chigurupati as Chairman and Managing Director of the company for a period of five years, effective from August 31, 2024.

  • Moody’s Ratings forecasts India’s GDP growth at 6.6% in FY25. The ratings agency expects strong demand for loans by NBFCs, driven by the country’s robust economic growth, which will support the sector’s profitability.

  • Power Finance Corp rises sharply as its net profit grows by 20.3% YoY to Rs 5,624.4 crore in Q4FY24, helped by a reduction in provisions. Revenue increases by 20.3% YoY to Rs 24,141.4 crore. It features in a screener of stocks with increasing revenue for the past four quarters.

  • Power stocks like Siemens, CG Power and Industrial Solutions, Suzlon Energy, and Adani Green Energy are rising in trade. The broader sectoral index, BSE Power, is also trading in the green.

  • Archean Chemicals falls sharply as its net profit plunges 57.8% YoY to Rs 57.6 crore in Q4FY24. Revenue decreases by 25.8% YoY to Rs 283.9 crore during the quarter. It shows up in a screener of stocks with high promoter pledges.

  • B Thiagarajan, Managing Director of Blue Star, notes that tier 2-3 cities account for more than 65% of sales. He raises the growth estimate for the company’s summer sales to 30-40% from 25-30% earlier. Thiagarajan also highlights that the AC penetration in India stands at around 8%, and expects it to increase to 20-25% by 2030.

  • Life Insurance Corp of India rises as the Securities and Exchange Board of India grants the company an additional three years to achieve 10% public shareholding.

  • TBO Tek’s shares debut on the bourses at a 55% premium to the issue price of Rs 920. The Rs 1,550.8 crore IPO has received bids for 86.7 times the total shares on offer.

  • Oberoi Realty surges to its all-time high of Rs 1,629.1 per share as its net profit grows by 64.1% YoY to Rs 788 crore in Q4FY24. Revenue rises by 56.6% YoY to Rs 1,558.6 crore, helped by an improvement in the real estate segment. It appears in a screener of stocks with negative to positive growth in sales and profit with strong price momentum.

  • Lalit Agarwal, CMD of V-Mart Retail, highlights the company’s target to achieve like-for-like growth of 6-7%, and revenue growth of 13-15% in FY25. He anticipates improvement in margins, and states that the company will maintain prices at current levels. Agarwal also notes the improvement in Bihar and other eastern parts of India.

  • Aadhar Housing Finance’s shares make a flat debut on the bourses at Rs 315. The Rs 3,000 crore IPO has received bids for 25.5 times the total shares on offer.

  • Siemens surges to its all-time high of Rs 7,240 per share as its net profit rises 70.2% YoY to Rs 802.5 crore in Q2FY24. Revenue grows by 18.6% YoY to Rs 5,681 crore, driven by improvements in the energy, smart infrastructure, mobility, and digital segments. The company approves a capex of Rs 1,000 crore for capacity expansion. It also approves the demerger of its energy business into a separate listed entity, Siemens Energy.

  • Go Digit General Insurance raises Rs 1,176.6 crore from anchor investors ahead of its IPO by allotting 4.3 crore shares at Rs 272 each. Investors include Fidelity Investment Trust, Goldman Sachs, Abu Dhabi Investment Authority, Custody Bank of Japan, Bay Pond Partners, East Spring Investments India, Mirae Asset Mutual Fund, and Florida Retirement System.

  • The MSCI Global Standard Index adds 13 companies including PB Fintech, Phoenix Mills, Indus Towers, and NHPC during its May review. Meanwhile, One97 Communications (Paytm), Berger Paints, and Indraprastha Gas have been excluded from the standard index.

  • Cipla's promoters Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma together sell a 2.5% stake in the company. Post transaction, the entire promoter group holds a 31.7% stake in the company.

  • Mahindra & Mahindra's subsidiary, Mahindra Holdings, sells its entire 30.8% stake in New Delhi Centre for Sight for Rs 425.4 crore to Space Investments, Defati Investments Holdings BV and Infinity Partners.

  • Aurionpro Solutions' board approves a bonus issue of shares to equity shareholders of the company in the ratio of 1:1.

  • Bharti Airtel is falling as its net profit plunges 31.1% YoY to Rs 2,071.6 crore in Q4FY24 due to higher network operating, access, license fee, employee benefits, and sales & marketing expenses. Revenue grows by 4.4% YoY to Rs 37,599.1 crore, owing to improvements in the mobile services - India and South Asia, Airtel business, homes services, and digital TV services segments. It shows up in a screener of stocks with negative profit growth where promoters are decreasing their shareholding QoQ.

Riding High:

Largecap and midcap gainers today include Siemens Ltd. (7,119.30, 6.9%), Life Insurance Corporation of India (990, 6.3%) and Linde India Ltd. (8,775.30, 6.0%).

Downers:

Largecap and midcap losers today include Canara Bank (113.31, -79.4%), Colgate-Palmolive (India) Ltd. (2,672.55, -5.2%) and ICICI Prudential Life Insurance Company Ltd. (577.05, -3.4%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Hitachi Energy India Ltd. (10,745.65, 9.8%), ITI Ltd. (313.55, 9.8%) and Thermax Ltd. (5,087.80, 8.4%).

Top high volume losers on BSE were Colgate-Palmolive (India) Ltd. (2,672.55, -5.2%), Archean Chemical Industries Ltd. (616.60, -4.5%) and V-Mart Retail Ltd. (2,135, -1.7%).

Oberoi Realty Ltd. (1,574.15, 3.6%) was trading at 18.2 times of weekly average. KEC International Ltd. (760.75, 5.7%) and Eris Lifesciences Ltd. (880.55, 0.5%) were trading with volumes 11.2 and 9.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

34 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Adani Power Ltd. (639.75, 1.9%), BASF India Ltd. (4,574.80, -0.9%) and Biocon Ltd. (311.90, 0.3%).

20 stocks climbed above their 200 day SMA including Sundram Fasteners Ltd. (1,210.70, 5.9%) and Sona BLW Precision Forgings Ltd. (604.55, 4.3%). 5 stocks slipped below their 200 SMA including Canara Bank (113.31, -79.4%) and Archean Chemical Industries Ltd. (616.60, -4.5%).

 
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