Trendlyne Marketwatch
Trendlyne Marketwatch
07 Aug 2024
Market closes higher, TVS Motor hits all-time high after revenue rises 14.9% YoY in Q1FY25
By Trendlyne Analysis

 

Nifty 50 closed at 24,268.50 (276.0, 1.2%), BSE Sensex closed at 79,349.06 (756.0, 1.0%) while the broader Nifty 500 closed at 22817.05 (373.8, 1.7%). Market breadth is surging up. Of the 2,217 stocks traded today, 1,817 were in the positive territory and 373 were negative.

Indian indices maintained the gains from the morning session and closed in the green. The Indian volatility index, Nifty VIX, fell 13.5% and closed at 16.2 points. TVS Motor rose sharply to an all-time high of Rs 2,618 as its revenue increased 14.9% YoY to Rs 10,406.9 crore for Q1FY25 and net profit rose 6.1% YoY to Rs 460 crore during the quarter.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty CPSE and Nifty PSE were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 5.1%.

Asian indices closed in the green. European indices are trading in the green, except Russia’s RTSI and MOEX which are trading in the red. US index futures are trading in the green, indicating a positive start to the trading session. Brent crude oil futures are trading higher.

  • Relative strength index (RSI) indicates that stocks like Granules India, PBCL, Colgate-Palmolive (India), and Ajanta Pharma are in the overbought zone.

  • Venky's (India) surges to its 20% upper circuit as its Q1FY25 net profit grows 3.9x YoY to Rs 75.2 crore, helped by reduced raw materials and finance costs. However, revenue declines by 17% YoY to Rs 818.5 crore due to a decrease in the oilseed segment. It appears in a screener of stocks with price above short, medium and long term moving averages.

  • Pidilite Industries rises sharply as its revenue grows 3.7% YoY to Rs 3,395.4 crore in Q1FY25, driven by strong performance in consumer & bazaar and B2B segment. Net profit rises 20.6% YoY to Rs 571.3 crore during the quarter. It appears in a screener of stocks with book value per share improving in last two years.

  • BASF rises sharply to its all-time high of Rs 6,933.1 as its Q1FY25 net profit rises 95.7% YoY to Rs 220.6 crore due to lower inventory and finance costs. Revenue grows 17.5% YoY to Rs 3,966.9 crore during the quarter. The company appears in a screener of stocks with high momentum scores.

  • Foreign Portfolio Investors (FPIs) invest Rs 32,365 crore ($3.87 billion) in Indian equities in July, marking the second-largest monthly inflow of 2024. The highest inflows this year occurred in March at Rs 35,098 crore, while June saw inflows of Rs 26,565 crore. Vipul Bhowar, Director at Waterfield Advisors, attributes the rebound in FPI inflows to India’s stable political environment, ongoing economic reforms, and appealing market valuations.

  • ICICI Direct keeps its 'Buy' call on Coal India with a higher target price of Rs 650 per share. This indicates a potential upside of 22.8%. The brokerage remains positive on the stock due to healthy volume growth, and diversification efforts in new sunrise spaces. It expects the company's revenue to grow at a CAGR of 7% over FY25-26.

  • PI Industries rises sharply as its revenue grows 8.3% YoY to Rs 2,068.9 crore in Q1FY25, driven by its agrochemicals segment. Net profit rises 17.2% YoY to Rs 448.8 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

  • Gulf Oil Lubricants India rises sharply as its Q1FY25 net profit rises 26.5% YoY to Rs 86 crore due to lower inventory costs. Revenue grows 10.1% YoY to Rs 894 crore during the quarter. The company appears in a screener of stocks with improving cash flow from operation over the last two years.

  • Dilip Asbe, MD and CEO of the National Payments Corporation of India (NPCI), reports that credit card transactions via the Unified Payments Interface (UPI) have reached Rs 10,000 crore. Of this amount, around Rs 100 to Rs 200 crore are attributable to credit line transactions on UPI. He clarifies that these credit lines are pre-approved, short-term, small-ticket loans. Although the adoption of credit lines has been gradual, NPCI is not concerned about the scale of their uptake.

  • Cummins India rises sharply as its net profit grows by 30.8% YoY to Rs 462.6 crore in Q1FY25 owing to reduced inventory and employee benefits expenses. Revenue increases by 4.9% YoY to Rs 2,419.3 crore, helped by an improvement in the engines and lubricants segments. The company's Managing Director, Ashwath Ram, resigns effective August 31 to take on a full-time global role with Cummins USA.

  • TVS Motor rises sharply to an all-time high of Rs 2,618 as its revenue rises 14.9% YoY to Rs 10,406.9 crore for Q1FY25, driven by improvements in its vehicles and financial services segments. Net profit for the quarter rises 6.1% YoY to Rs 460 crore. The stock appears in a screener of stocks outperforming their industry price change during the quarter.

  • AIA Engineering rises sharply as its board of directors approves the buyback of 10 lakh shares at Rs 5,000 per share, totaling Rs 500 crore. The record date is set for August 20.

  • NMDC cuts the price of iron ore lumps by Rs 600, bringing it down to Rs 5,350 per tonne. Similarly, the price of iron ore fines has been reduced by Rs 500, now standing at Rs 4,610 per tonne, down from Rs 5,110 per tonne.

  • Shyam Metalics and Energy's stainless steel sales rise 37% YoY to 5,699 tonnes in July. However, aluminium foil sales decline marginally on a YoY basis to 1,571 tonnes. The company's speciality alloys sales grows 12% YoY, carbon sales decrease by 4% YoY, and sponge iron sales decrease by 4% YoY while that of pellets increase by 2% YoY.

  • Welspun Corp rises after its associate, East Pipes Integrated Company, secures contracts worth Rs 525 crore for manufacturing, supplying and coating steel pipes over a 24-month period.

  • Bosch's revenue increases 3.8% YoY to Rs 4,316.8 crore in Q1FY25, driven by improvements in the automotive and consumer goods segments. Net profit rises by 13.9% YoY to Rs 466 crore during the quarter, helped by inventory destocking. It appears in a screener of stocks with quarterly net profit growth and increasing profit margins.

  • Reports suggest that the Indian government is reassessing its plans for an offer for sale (OFS) of Hindustan Zinc, which is expected to be done in FY25. The government is considering diluting its stake in the company in tranches.

  • Gland Pharma falls sharply as its net profit declines 25.9% YoY to Rs 143.8 crore in Q1FY25 due to higher inventory, employee benefits, and finance costs. However, revenue increases 16.6% YoY to Rs 1,453.1 crore on account of growth in the USA, Europe, Canada, Australia and New Zealand. It shows up in a screener of stocks with negative profit growth and promoters decreasing shareholding.

  • GR Infraprojects emerges as the lowest bidder for establishing a transmission scheme on a build, own, operate, and transfer basis for integration of Tumkur?II REZ in the state of Karnataka.

  • Gujarat Gas' Q1FY25 net profit rises 53.1% YoY to Rs 330.7 crore due to reduction in spot gas prices and increase in volumes. Revenue grows 17.7% YoY to Rs 4,450.3 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Nuvama initiates a 'Buy' rating on JTL Industries with a target price of Rs 303. The brokerage highlights the firm's volume growth, margin expansion, and increased capacity. It projects a strong profit CAGR of 38% for FY25–27, driven by capacity expansion and a better product mix. However, Nuvama also warns of potential risks, including a possible slowdown in the economy or the steel sector and fluctuations in steel prices.

  • Lupin surges to a new 52-week high of Rs 2,030 per share as its net profit rises 77.2% YoY to Rs 801.3 crore in Q1FY25, helped by reduced inventory and finance costs. Revenue increases 17.2% YoY to Rs 5,668.1 crore, driven by a rise in the India, North America, Europe, the Middle East and Africa (EMEA) and active pharmaceutical ingredient (API) businesses. It appears in a screener of stocks with improving return on equity (RoE) over the past two years.

  • Bata India's Q1FY25 net profit rises 62.8% YoY to Rs 174.1 crore. However, revenue falls 1.4% YoY to Rs 944.6 crore due to the elections and extreme heat wave during the last quarter. The company appears in a screener of stocks with increasing profits every quarter for the past 3 quarters.

  • Suzlon Energy rises sharpy as its board of directors approves the acquisition of a 76% stake in Renom Energy Services for a total consideration of Rs 660 crore.

  • Tata Power rises as its Q1FY25 revenue grows by 13.3% YoY to Rs 17,541 crore, driven by an improvement in the generation, renewables and transmission & distribution (T&D) segments. However, net profit remains flat at Rs 971.9 crore due to higher power, fuel, transmission, raw materials and employee benefits expenses. It features in a screener of stocks with improvement in cash flow over the past two years.

  • Markets rise on early trading, Nifty 50 was trading at 24283.55 (291, 1.2%) , BSE Sensex was trading at 79464.49 (871.4, 1.1%) while the broader Nifty 500 was trading at 22728.55 (285.3, 1.3%)

  • Market breadth is overwhelmingly positive. Of the 1895 stocks traded today, 1715 were on the uptrend, and 159 went down.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (616.35, 7.9%), Oil And Natural Gas Corporation Ltd. (327.90, 7.1%) and Cummins India Ltd. (3,766.55, 6.9%).

Downers:

Largecap and midcap losers today include Gland Pharma Ltd. (2,032, -3.6%), Shree Cements Ltd. (25,389.60, -2.7%) and IndusInd Bank Ltd. (1,343.35, -2.7%).

Volume Shockers

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

Top high volume gainers on BSE included BASF India Ltd. (6,933.15, 20%), Cochin Shipyard Ltd. (2,378.25, 3.8%) and VIP Industries Ltd. (448.10, 0.9%).

Top high volume losers on BSE were EIH Ltd. (374.95, -5.5%), Gland Pharma Ltd. (2,032, -3.6%) and Shree Cements Ltd. (25,389.60, -2.7%).

Sapphire Foods India Ltd. (1,648.65, -0.5%) was trading at 8.8 times of weekly average. AIA Engineering Ltd. (4,439.90, -0.5%) was trading with volume 3.3 times weekly average on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks made 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,938.60, 5.4%), Akzo Nobel India Ltd. (3,225.15, 3.9%) and Atul Ltd. (8,021.20, 3.3%).

Stocks making new 52 weeks lows included - IndusInd Bank Ltd. (1,343.35, -2.7%) and Equitas Small Finance Bank Ltd. (79.20, 0.0%).

14 stocks climbed above their 200 day SMA including Alok Industries Ltd. (26.23, 4.6%) and Aster DM Healthcare Ltd. (395.45, 4.3%). 7 stocks slipped below their 200 SMA including EIH Ltd. (374.95, -5.5%) and Bata India Ltd. (1,463.80, -3.4%).

 
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