Trendlyne Marketwatch
Trendlyne Marketwatch
15 Jul 2024
Market closes higher, Ashok Leyland bags an order worth Rs 981.5 crore from MSRTC
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,586.70 (84.6, 0.4%) , BSE Sensex closed at 80,664.86 (145.5, 0.2%) while the broader Nifty 500 closed at 23,209.85 (114.4, 0.5%). Market breadth is balanced. Of the 2,199 stocks traded today, 1,119 were on the uptick, and 1,057 were down.

Market closed higher after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, rose 3.4% and closed at 14.2 points. Indian Renewable Energy Development Agency (IREDA) surges to its all-time high as its Q1FY25 net profit grows 30.2% YoY to Rs 383.7 crore and revenue rises 32.1% YoY to Rs 1,510.7 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, taking cues from the benchmark index. Nifty PSU Bank and Nifty Media were among the top index gainers today. According to Trendlyne’s Sector dashboard, Media emerged as the best-performing sector of the day, with a rise of 1.5%.

Asian indices closed mixed. European indices are trading red except Amsterdam’s AEX and Switzerland's SMI. US index futures are trading in green, indicating a positive start to the trading session. Brent crude oil futures are trading flat.

  • Relative strength index (RSI) indicates that stocks like Oil India, Rail Vikas Nigam, Grasim Industries, and Infosys are in the overbought zone.

  • Bank of Maharashtra rises sharply as its net profit surges by 46.6% YoY to Rs 1,293.5 crore in Q1FY25. Revenue grows by 24.9% YoY to Rs 6,768.6 crore, helped by an improvement in gross advances and deposits. The bank's asset quality improves as its gross and net NPAs decline by 43 bps YoY and 4 bps YoY, respectively. It features in a screener of stocks with rising net cash flow and cash from operating activities.

  • SRM Contractors rises sharply as it signs a Rs 278.5 crore agreement with the National Highways Authority of India (NHAI) to upgrade and strengthen the Nashri-Chenani section of NH-244 via Patnitop in Jammu and Kashmir.

  • Waaree Renewable Technologies rises as it wins an engineering, procurement, and construction work order worth Rs 90.3 crore for a solar power project of 30 MW DC capacity.

  • Zomato rises over 2% following its decision to raise the platform fee per order to Rs 6, a Rs 1 increase. The fee hike will be initially implemented in select regions - Bengaluru and Delhi and is expected to improve the company's profitability.

  • PSU bank stocks like Indian Overseas Bank, Bank of Maharashtra, Punjab & Sind Bank, and UCO Bank are rising in trade. The broader sectoral index, Nifty PSU Bank, is also trading in the green.

  • Avenue Supermarts rises as its net profit grows by 17.5% YoY to Rs 773.8 crore in Q1FY25. Revenue increases by 18.5% YoY to Rs 14,110.7 crore during the quarter. It shows up in a screener of stocks with zero promoter pledges.

  • Suven Pharmaceuticals receives Form 483 with two observations from the US FDA following an inspection at its wholly-owned subsidiary, Casper Pharma's facility in Hyderabad.

  • Investec initiates a 'Buy' rating on VIP Industries and Safari Industries (India), setting target prices at Rs 560 and Rs 2,800, respectively. The brokerage predicts robust growth for India's luggage sector, driven by favorable demographics, changing lifestyles, and increased travel emphasizing style and utility. It notes the industry is currently valued at Rs 10,000 crore and is expected to expand by more than 50% to Rs 15,000 crore.

  • Axis Securities maintains its 'Hold' rating on Tata Consultancy Services with a target price of Rs 4,250 per share. This indicates a potential upside of 1.2%. The brokerage sees strong growth in the long term but anticipates headwinds in H1FY25 due to uncertainties in large economies. It expects the company's revenue to grow at a CAGR of 6% over FY25-26.

  • Hindalco rises as its board approves the sale of its land in Kalwa, Maharashtra, to Birla Estates' wholly-owned subsidiary, Ekamaya Properties. The company will receive Rs 595 crore in multiple tranches over time, along with 1.5% of the sales revenue.

  • Mahanagar Telephone Nigam appoints Ravi A Robert as Chief Managing Director (CMD) of the company, effective today. PK Purwar ceases to be CMD on account of the non-extension of his tenure.

  • India’s WPI inflation jumps to a 16-month high of 3.4% in June, up from 2.6% in May, driven by higher prices of food articles, crude petroleum & natural gas, and mineral oils. Primary articles inflation rises to 8.8%, while fuel & power inflation moderates slightly.

  • Tanla Platforms surges as it signs a commercial agreement with a global tech major to combat scams on its messaging platform using its AI-driven anti-phishing solution, Wisely ATP. Reports suggest the deal has been signed with Meta Platforms-owned WhatsApp.

  • Ashok Leyland is rising as it bags an order worth Rs 981.5 crore from Maharashtra State Transport Corp (MSRTC) to supply 2,104 Viking passenger buses by August 2025.

  • Zen Technologies rises sharply and hits a 5% upper circuit as it launches four AI-powered robots for the global defense market. The IP-owned innovative products are Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640.

  • India’s CPI inflation rises to a 4-month high of 5.1% in June from 4.8% in May. Consumer food price index rises to 9.4%, while fuel and light inflation contracts to 3.7%.

  • GE T&D India wins a Rs 490 crore order from Power Grid Corp of India to implement unified load dispatch and communication ULDC Phase-III.

  • Indian Renewable Energy Development Agency surges to its all-time high of Rs 310 per share as its net profit grows 30.2% YoY to Rs 383.7 crore in Q1FY25. Revenue increases by 32.1% YoY to Rs 1,510.7 crore during the quarter. It shows up in a screener of stocks with increasing revenue for the past four quarters.

  • Porinju Veliyath buys a 0.2% stake in TAAL Enterprises in Q1FY25. He now holds a 1.3% stake in the company.

  • India’s Index of Industrial Production or IIP grows by 5.9% in May, compared to 5% in April, led by growth in the mining, manufacturing, and electricity sectors.

  • Anil Kumar Goel sells a 4.7% stake in Dhampur Sugar Mills in Q1FY25. He now holds an 8% stake in the company.

  • Ashish Kacholia sells a 0.7% stake in Shaily Engineering Plastics in Q1FY25. He now holds a 9% stake in the company.

  • Sunteck Realty's pre-sales grow 29.7% YoY to Rs 502 crore in Q1FY25, helped by an 18.8% YoY increase in collections to Rs 342 crore. It appears in a screener of stocks with increasing mutual fund holding over the past two months.

  • HCL Technologies rises as its net profit grows by 6.8% QoQ to Rs 4,257 crore in Q1FY25, helped by lower inventory and outsourcing costs. Revenue increases by 0.8% QoQ to Rs 29,160 crore on the back of an improvement in the HCL Software segment. It shows up in a screener of stocks with increasing cash flow from operations for the past two years.

  • Nifty 50 was trading at 24,569.25 (67.1, 0.3%), BSE Sensex was trading at 80,686.54 (167.2, 0.2%) while the broader Nifty 500 was trading at 23,146.55 (51.1, 0.2%).

  • Market breadth is in the green. Of the 1,980 stocks traded today, 1,115 were on the uptick, and 819 were down.

Riding High:

Largecap and midcap gainers today include Indian Overseas Bank (68.42, 7.5%), IDBI Bank Ltd. (91.48, 6.4%) and Oil And Natural Gas Corporation Ltd. (322.50, 5.0%).

Downers:

Largecap and midcap losers today include Patanjali Foods Ltd. (1,559.85, -2.1%), Tube Investments of India Ltd. (4,072, -2.0%) and Astral Ltd. (2,262.60, -1.7%).

Movers and Shakers

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

Top high volume gainers on BSE included Godfrey Phillips India Ltd. (4,734.25, 16.7%), HBL Power Systems Ltd. (629.35, 10.0%) and Indian Overseas Bank (68.42, 7.5%).

Top high volume losers on BSE were Chalet Hotels Ltd. (789.90, -3.9%), Eris Lifesciences Ltd. (1,015.30, -2.7%) and KPR Mill Ltd. (834.05, -2.6%).

Tanla Platforms Ltd. (998, 4.7%) was trading at 44.6 times of weekly average. KSB Ltd. (5,036.70, 6.8%) and C.E. Info Systems Ltd. (2,508.55, 3.5%) were trading with volumes 17.0 and 10.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

42 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Aurobindo Pharma Ltd. (1,374.85, 3.6%), Britannia Industries Ltd. (5,809.70, 0.4%) and Castrol India Ltd. (267.32, 6.3%).

9 stocks climbed above their 200 day SMA including Tanla Platforms Ltd. (998, 4.7%) and Crisil Ltd. (4,517.90, 4.4%). 6 stocks slipped below their 200 SMA including Jai Balaji Industries Ltd. (852, -2.0%) and Rainbow Childrens Medicare Ltd. (1,209.50, -1.7%).

 
More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended
Five Interesting Stocks Today - May 02, 2025
The Baseline | 02 May 2025
Chart of the week: IT stocks slide amid global market volatility
The Baseline | 02 May 2025
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021