Trendlyne Marketwatch
Trendlyne Marketwatch
13 Jun 2024
Market closes higher, Bondada Engineering bags a Rs 939.4 crore from NLC India
By Trendlyne Analysis

 

Nifty 50 closed at 23,398.90 (76.0, 0.3%), BSE Sensex closed at 76,810.90 (204.3, 0.3%) while the broader Nifty 500 closed at 22,074.30 (113.4, 0.5%). Of the 2,165 stocks traded today, 1,303 showed gains, and 833 showed losses.

Indian indices maintained the gains from the afternoon session and closed in the green. The volatility index, Nifty VIX, dropped by 6.2% and closed at 13.5 points. Larsen & Toubro bagged a Rs 2,500-5,000 crore order from ONGC to set up four wellhead platforms, a 140 km long pipeline and associated topside modifications at Tapti Daman block off the west coast of India.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher following the benchmark index. Nifty Realty and Nifty IT closed higher than Wednesday’s closing level. According to Trendlyne’s sector dashboard, realty emerged as the top-performing sector of the day, with a rise of over 2.1%.

Most European indices trade in the red. US indices futures trade mixed, indicating a cautious start. Eurozone’s industrial production in April contracted by 0.1% MoM against estimates of 0.1% growth.

  • Money flow index (MFI) indicates that stocks like Sunteck Realty, Coromandel International, Emami, and Bikaji Foods International are in the overbought zone.

  • Sharekhan maintains its 'Buy' call on CESC with a higher target price of Rs 170 per share. This indicates a potential upside of 13.7%. The brokerage believes the revival in renewable energy capex and the turnaround of the distribution business will drive earnings growth. It expects the company's revenue to grow at a CAGR of 6.1% over FY25-26.

  • Venus Remedies rises sharply after the company wins a contract from UNICEF for its antibiotic product, Ceftriaxone 1mg, in the Beta Lactam antibiotics tender.

  • The Adani Group allocates $3 billion for cement sector acquisitions, aiming to dominate India's cement industry. The group is reportedly eyeing Hyderabad's Penna Cement, Gujarat's Saurashtra Cement, Jaiprakash Associates' cement division, and Vadraj Cement from ABG Shipyard.

  • Reliance Industries' subsidiary, Jio Platforms' joint venture with Luxemburg's SES receives approval from the Indian space regulator to operate satellites. This will help the JV to set up a gigabit fibre internet in the country.

  • Larsen & Toubro rises as its hydrocarbon business bags a Rs 2,500-5,000 crore order from ONGC to set up four wellhead platforms, 140 km long pipeline and associated topside modifications at Tapti Daman block off the west coast of India.

  • Sugar stocks like Shree Renuka Sugars, Bajaj Hindusthan Sugar, Dalmia Bharat Sugar, and Bannari Amman Sugars rise more than 7.5% in trade as the government considers raising the minimum selling price of sugar. The broader sugar industry surges over 6% today.

  • Power Mech Projects rises sharply as more than 2.7 lakh shares, amounting to Rs 131 crore, reportedly change hands in a block deal.

  • Realty stocks like DLF, Macrotech Developers, Godrej Properties, Prestige Estates Projects, and Oberoi Realty are rising in trade. The broader Nifty Realty index is also trading in the green, and touches its 52-week high of 1,122.2 today.

  • KIOCL is surging as the Steel Ministry reportedly signs to commence operations at the Devadari iron ore mine. The company plans to procure around 3 million tonnes of iron in FY25.

  • Reports suggest that 5.2 lakh shares of InterGlobe Aviation (IndiGo), amounting to Rs 224 crore, change hands in a block deal.

  • Whirlpool rises to touch its 52-week high of Rs 1,837.8 per share, boosted by a partnership with Hindustan Unilever's Surf Excel brand. The collaboration aims to deliver superior cleaning performance and convenience to households.

  • Exide Industries surges to its all-time high of Rs 549.9 per share as it invests Rs 75 crore in its subsidiary, Exide Energy Solutions. This takes the company's total investment in its subsidiary to Rs 2,452.2 crore.

  • Saksoft surges as it signs an agreement to acquire 100% ownership in Augmento Labs for Rs 100 crore. This will strengthen Saksoft's presence in the digital engineering space and provide access to enterprise clients.

  • India’s Index of Industrial Production (IIP) grows by 5% in April, compared to 4.9% in March, led by growth in the mining, manufacturing, and electricity sectors.

  • L&T Finance rises sharply as 8.8 crore shares (3.5% stake), amounting to Rs 1,500 crore, reportedly change hands in a block deal. Bain Capital & BNP Paribas are the likely sellers in the transaction.

  • One97 Communications (Paytm) rises sharply as it partners with Samsung to set up Samsung Wallet, which will be used for flight, bus, movie, and event ticket bookings.

  • Sobha rises as its board approves the rights issue of 1.2 crore shares worth up to Rs 2,000 crore. The record date of the issue is set as June 19.

  • India’s CPI inflation eases marginally to a year low of 4.8% in May. Food inflation remains flat at 8.7%, while fuel and light inflation contracts to 3.8%.

  • Gensol Engineering rises sharply to its 5% upper circuit as it bags a Rs 2,680 crore order from Gujarat Urja Vikas Nigam to set up 250 MW/500 MWh standalone battery energy storage systems (BESS). The project will supply electricity on an “On-Demand” basis to Gujarat State's DISCOMs for the next 12 years.

  • 360 One Wam acquires Moneygoals Solutions and Banayantree Services for Rs 85.8 crore. Moneygoals Solutions provides business advisory, product management, and other business support services, while Banayantree Services is into digital distribution of financial products.

  • Torrent Pharmaceuticals is falling as it receives Form 483 with five observations from the US FDA after conducting a pre-approval inspection (PAI) and a good manufacturing practices (GMP) inspection at its facility in Gujarat.

  • Bondada Engineering rises sharply as it bags an order worth Rs 939.4 crore from NLC India to set up a 600 MW grid-connected solar power project in Gujarat, including operations and maintenance, for three years.

Riding High:

Largecap and midcap gainers today include Oracle Financial Services Software Ltd. (9,658, 10.5%), One97 Communications Ltd. (428.05, 6.4%) and Cholamandalam Investment & Finance Company Ltd. (1,436.10, 5.7%).

Downers:

Largecap and midcap losers today include Marico Ltd. (611.25, -2.9%), APL Apollo Tubes Ltd. (1,539.35, -2.6%) and Hindustan Zinc Ltd. (672.40, -2.3%).

Crowd Puller Stocks

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

Top high-volume gainers on BSE included Shree Renuka Sugars Ltd. (49.30, 11.6%), Delta Corp Ltd. (135.28, 11.4%) and KIOCL Ltd. (476.85, 11.4%).

Top high volume loser on BSE was Marico Ltd. (611.25, -2.9%).

Archean Chemical Industries Ltd. (658.95, 5.9%) was trading at 15.2 times of weekly average. Usha Martin Ltd. (414.80, 9.7%) and DCM Shriram Ltd. (1,057.40, 6.7%) were trading with volumes 10.8 and 10.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

62 stocks overperformed with 52-week highs,

Stocks touching their year highs included - Aegis Logistics Ltd. (841.10, 9.7%), Ambuja Cements Ltd. (664.50, -0.6%) and BASF India Ltd. (4,897.90, 1%).

19 stocks climbed above their 200 day SMA including Shree Renuka Sugars Ltd. (49.30, 11.6%) and Archean Chemical Industries Ltd. (658.95, 5.9%). 4 stocks slipped below their 200 SMA including APL Apollo Tubes Ltd. (1,539.35, -2.6%) and Century Plyboards (India) Ltd. (680, -0.2%).

 
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