Trendlyne Marketwatch
Trendlyne Marketwatch
09 Aug 2024
Market closes higher, IRB Infrastructure's revenue rises 13.4% YoY to Rs 1,852.9 crore in Q1FY25
By Trendlyne Analysis

 

Nifty 50 closed at 24,367.50 (250.5, 1.0%) , BSE Sensex closed at 79,705.91 (819.7, 1.0%) while the broader Nifty 500 closed at 22,923.50 (217.8, 1.0%). Market breadth is in the green. Of the 2,226 stocks traded today, 1,304 were in the positive territory and 871 were negative.

Indian indices maintained their gains from the afternoon session and closed in the green. The volatility index, Nifty VIX, fell 7.6% and closed at 15.3 points. Trent closed around 12% higher as its revenue rose 56.2% YoY to Rs 4,104.4 crore in Q1FY25. Net profit surged 134.7% YoY to Rs 571 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green following the benchmark index. Nifty Media and Nifty Realty closed higher. According to Trendlyne’s sector dashboard, Retailing emerged as the best-performing sector of the day, with a rise of 3.7%.

European indices traded mixed, while most Asian indices closed in the green. US index futures traded sharply higher, indicating a positive start to the trading session. Disney announces plans to spend at least $1 billion every year in the UK, Europe, the Middle East, and Africa over the next five years to produce movies and TV shows. Brent crude oil futures traded marginally lower.

  • Money flow index (MFI) indicates that stocks like Cera Sanitaryware, Piramal Pharma, Aster DM Healthcare and KFIN Technologies are in the overbought zone.

  • Cholamandalam Financial Holdings rises sharply as its net profit grows by 47.6% YoY to Rs 548.4 crore in Q1FY25. Revenue increases by 34.3% YoY to Rs 7,677.4 crore owing to improvements in the financing and insurance segments. It shows up in a screener of stocks with increasing revenue for the past four quarters.

  • IRB Infrastructure's revenue grows 13.4% YoY to Rs 1,852.9 crore in Q1FY25, driven by strong performance in the construction and BOT/TOT project segments. Net profit rises 4.6% YoY to Rs 140 crore during the quarter. It appears in a screener of stocks increasing revenue every quarter for the last four quarters.

  • Grasim Industries' Q1FY25 net profit drops 23.3% YoY to Rs 1,207.9 crore. However, revenue rises 8.9% YoY to Rs 33,860.7 crore during the quarter, driven by higher sales in cellulosic fibres and financial services segments. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Mahindra & Mahindra reportedly seeks approval from the government to form a JV worth $3 billion with China-based Shaanxi Automobile Group. The new entity, proposed to be set up in Gujarat, will manufacture cars for export.

  • Zydus Lifesciences rises to its all-time high of Rs 1,324.3 per share as its net profit grows 30.6% YoY to Rs 1,419.9 crore in Q1FY25, helped by lower raw material costs. Revenue increases by 21.2% YoY to Rs 6,270.7 crore, driven by improvements in the India formulations, US formulations, and active pharmaceutical ingredient (API) segments. It features in a screener of stocks with growth in quarterly net profit and profit margin (YoY).

  • Foreign institutional investors sell equity worth Rs 12,925.7 crore in the market over the past week, according to Trendlyne's FII dashboard. Index options witness the highest inflow of Rs 1.3 lakh crore from foreign investors. Meanwhile, mutual funds are net buyers in the equity market, pulling out Rs 9,241.3 crore during the same period.

  • Trent surges as its revenue rises 56.2% YoY to Rs 4,104.4 crore in Q1FY25, beating Forecaster estimates by 7.1%. Net profit grows 134.7% YoY to Rs 571 crore during the quarter due to reduced finance costs and changes in inventory. It appears in a screener of stocks with growth in net profit and increasing profit margin QoQ.

  • JP Morgan upgrades Lupin to ‘Overweight’ with a target price of Rs 2,400. The brokerage believes there is more room for growth despite its recent outperformance. The outperformance is led by improving momentum in the US business, new product launches, and a stable pricing environment.

  • Bayer Cropscience falls as its Q1FY25 net profit drops 22.6% YoY to Rs 254.2 crore. Revenue declines 6.2% YoY to Rs 1,631.2 crore during the quarter, driven by delayed monsoons and low reservoir levels. The company appears in a screener of stocks, with cash flow from operation improving over the past two years.

  • Biocon's Q1FY25 net profit grows by 6.5x YoY to Rs 659.7 crore due to exceptional gains of Rs 1,135 crore from the sale of its metabolic, oncology and critical care products businesses. Revenue rises by 29.9% YoY to Rs 4,567.4 crore during the quarter. It shows up in a screener of stocks outperforming their industries in the past quarter.

  • Ircon International falls as its Q1FY25 revenue drops 15.8% YoY to Rs 2,287.1 crore due to lower sales from international and domestic customers. However, net profit rises 19.6% YoY to Rs 224 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Pranav Amin, MD of Alembic Pharmaceuticals, highlights the company’s target to launch over 20 products in the US in FY25. He projects over 20% growth in the animal business. Amin expects margins to improve in FY25, with a target of reaching 18-20% in the coming years.

  • Ola Electric's shares make a flat debut on the bourses at Rs 76. The Rs 6,145.6 crore IPO has received bids for 4.3 times the total shares on offer.

  • Sobha's revenue falls 29.5% YoY to Rs 640.4 crore in Q1FY25 due to weak performance in the real estate segment. Net profit decreases by 49.7% YoY to Rs 6.1 crore during the quarter. It shows up in a screener of stocks underperforming their industry price change during the quarter.

  • NBCC (India) rises sharply as it secures a Rs 15,000 crore work order from Srinagar Development Authority to develop a 406-acre Satellite Township at Rakh-e-Gund Akshah, Srinagar (J&K).

  • Fundraising in India picked up pace in July, as ten companies raised Rs 21,800 crore through qualified institutional placements (QIPs). This is the highest amount since September 2020, when six QIPs collected Rs 39,032 crore. Vedanta's QIP was the largest during the month, raising around Rs 8,500 crore.

  • Steel Authority of India (SAIL) falls as its net profit declines by 61.5% YoY to Rs 81.8 crore in Q1FY25 due to allowances to executive employees of Rs 311.8 crore. Revenue decreases by 2.6% YoY to Rs 24,274.2 crore due to lower sales from the Bokaro and Salem steel plants. It appears in a screener of stocks in the sell zone based on days traded at the current PE.

  • Nexus Select Trust REIT falls sharply as Global PE firm Blackstone reportedly plans to divest a 21.8% stake through a Rs 4,455 crore block deal at an average price of Rs 135 per unit.

  • Cochin Shipyard surges as its Q1FY25 net profit rises 76.6% YoY to Rs 174.2 crore. Revenue grows 62.1% YoY to Rs 771.5 crore during the quarter, driven by higher sales in the shipbuilding and ship repair segments. The company appears in a screener of stocks with the highest recovery from their 52-week lows.

  • Mutual Funds' net inflows in July were at Rs 1.9 lakh crore vs net outflows of Rs 43,636 crore in June, according to data released by the Association of Mutual Funds in India (AMFI). The net AUM of the industry stands at 64.9 lakh crore during the same period.

  • Oil India rises sharply as its net profit grows by 32.2% YoY to Rs 1,885.8 crore in Q1FY25. Revenue increases by 45.7% YoY to Rs 9,581.8 crore owing to improvements in the crude oil, natural gas, refinery products, LPG, pipeline transportation, and renewable energy segments. It shows up in a screener of stocks with rising net cash flow for the last two months.

  • Container Corp of India falls as its Q1FY25 net profit misses Forecaster estimates by 20.3%, despite rising 5.1% YoY to Rs 258.2 crore. Revenue grows 9.4% YoY to Rs 2,103.1 crore during the quarter. The company appears in a screener of stocks, with RoCE improving over the past two years.

  • Eicher Motors rises sharply as its net profit grows by 19.9% YoY to Rs 1,101.5 crore in Q1FY25. Revenue increases by 10.5% YoY to Rs 4,675 crore, helped by an increase in sales from Royal Enfield and commercial vehicles. It appears in a screener of stocks with increasing revenue for the past eight quarters.

  • Life Insurance Corp of India is rising as its Q1FY25 net profit grows by 9.6% YoY to Rs 10,461.1 crore, helped by a return of Rs 163.5 crore from provisions from doubtful debts. Revenue increases by 11.7% YoY to Rs 2.1 lakh crore, driven by improvements in first-year premium, new business premium, and assets under management (AUM). It features in a screener of stocks near their 52-week highs with significant volumes.

  • Upbeat trading today, as Nifty 50 was trading at 24358.20 (241.2, 1%) , BSE Sensex was trading at 79984.24 (1098.0, 1.4%) while the broader Nifty 500 was trading at 22923.10 (217.4, 1.0%)

  • Market breadth is surging up. Of the 1911 stocks traded today, 1635 were on the uptrend, and 248 went down.

Riding High:

Largecap and midcap gainers today include Trent Ltd. (6,275.35, 11.2%), Eicher Motors Ltd. (4,830.60, 5.5%) and CG Power and Industrial Solutions Ltd. (713.20, 5.1%).

Downers:

Largecap and midcap losers today include Steel Authority of India (SAIL) Ltd. (129.35, -5.9%), Rail Vikas Nigam Ltd. (518.15, -3.8%) and Hindustan Petroleum Corporation Ltd. (376.65, -3.2%).

Volume Shockers

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

Top high volume gainers on BSE included Authum Investment & Infrastructure Ltd. (1,404, 14.2%), Trent Ltd. (6,275.35, 11.2%) and NBCC (India) Ltd. (184.79, 9.3%).

Top high volume losers on BSE were Lemon Tree Hotels Ltd. (119.78, -5.1%), Bayer Cropscience Ltd. (6,598.60, -4.7%) and Birla Corporation Ltd. (1,365.10, -4.3%).

Hatsun Agro Products Ltd. (1,224.10, -3.8%) was trading at 17.3 times of weekly average. Prism Johnson Ltd. (165.95, 3.7%) and Esab India Ltd. (6,199.90, -1.8%) were trading with volumes 9.4 and 7.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

31 stocks hit their 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,998.85, 1.3%), Akzo Nobel India Ltd. (3,333, 1.3%) and Aurobindo Pharma Ltd. (1442, -2.5%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (79, 0.1%).

16 stocks climbed above their 200 day SMA including Prism Johnson Ltd. (165.95, 3.7%) and Mankind Pharma Ltd. (2,136.15, 3.1%). 13 stocks slipped below their 200 SMA including Steel Authority of India (SAIL) Ltd. (129.35, -5.9%) and Lemon Tree Hotels Ltd. (119.78, -5.1%).

 
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