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Trendlyne Marketwatch
12 Aug 2024
Market closes lower, Voltas surged as its Q1FY25 net profit grew by 158.5% YoY
By Trendlyne Analysis

 

Nifty 50 closed at 24,347 (-20.5, -0.1%), BSE Sensex closed at 79,648.92 (-57.0, -0.1%) while the broader Nifty 500 closed at 22,915.85 (-7.7, 0.0%). Market breadth is in the red. Of the 2,280 stocks traded today, 1,067 were on the uptick, and 1,191 were down.

Indian indices erased their gains from the afternoon session and closed flat. The volatility index, Nifty VIX, rose 3.5% and closed at 15.9 points. Voltas surged to its all-time high of Rs 1,568.7 per share as its Q1FY25 net profit grew by 158.5% YoY to Rs 334.2 crore. Revenue rose 45.8% YoY to Rs 5,001.3 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green. Nifty Realty and BSE Consumer Durables closed higher. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 2.2%.

European indices traded mixed, while most Asian indices closed in the green. US index futures traded mixed, indicating a cautious start to the trading session. Crude prices continued to rise for the fifth consecutive session with the US Crude Futures rising 0.9% and Brent Crude growing 0.7% due to sustained geopolitical tensions in the Middle East.

  • Votas sees a long buildup in its August 29 futures series, with open interest increasing by 39.1% and a put-call ratio of 0.6.

  • ONGC rises as the government approves its Rs 10,501 crore investment in ONGC petro additions (OPaL), including feedstock support with gas priced up to 20% above the administrative price mechanism (APM) price.

  • Kaveri Seed surges to its all-time high of Rs 1,180 per share as its net profit grows by 5.8% YoY to Rs 289.5 crore in Q1FY25, helped by lower inventory costs and tax expense. Revenue rises by 8.6% YoY to Rs 812.4 crore during the quarter. It features in a screener of stocks with increasing net cash flow and cash from operating activities.

  • Usha Martin's Q1FY25 net profit rises 3.4% YoY to Rs 104.1 crore. Revenue grows 1.5% YoY to Rs 826.4 crore, driven by higher sales from the wire and wire ropes segment. The company features in a screener of stocks with improving cash flow from operations over the past two years.

  • Adani stocks decline following allegations by Hindenburg Research that SEBI Chairperson Madhabi Puri Buch and her husband held undisclosed investments in obscure offshore funds in Bermuda and Mauritius. According to the report, these are the same entities allegedly used by Vinod Adani to inflate stock prices artificially.

  • CE Info Systems rises sharply as its revenue rises 13.5% YoY to Rs 101.5 crore in Q1FY25. Net profit grows 12.2% YoY to Rs 35.9 crore during the quarter due to lower hardware material costs. It appears in a screener of stocks with increasing revenue every quarter for the last four quarters.

  • ICICI Direct keeps its 'Buy' call on Eicher Motors with a higher target price of Rs 5,750 per share. This indicates a potential upside of 19.2%. The brokerage is confident on the stock due to its efforts for two-wheeler premiumisation which will help sustain top-line growth. It expects the company's revenue to grow at a CAGR of 10.6% over FY25-26.

  • Bharat Dynamics falls sharply as its revenue declines 35.8% YoY to Rs 191.2 crore in Q1FY25, missing Forecaster estimates by 65.6%. Net profit drops 82.7% YoY to Rs 7.2 crore during the quarter. It appears in a screener of stocks with PE higher than their respective industry PE.

  • Sanjeev Sharma, Managing Director of ABB India, highlights the company’s robust project pipeline, consisting of projects from core, railways, and metros sectors. He expects double-digit growth in CY24. Sharma says the company missed its Rs 150-200 crore revenue target due to events like elections and budget.

  • Amara Raja Energy & Mobility rises sharply as its wholly-owned subsidiary, Amara Raja Advanced Cell Technologies (ARACT), reportedly signs a memorandum of understanding (MoU) with Piaggio Vehicles. The MoU aims to develop and supply LFP (lithium iron phosphate) lithium-ion (Li-ion) cells and chargers for Piaggio's electric vehicles.

  • Voltas surges to its all-time high of Rs 1,568.7 per share as its Q1FY25 net profit grows by 158.5% YoY to Rs 334.2 crore. Revenue rises 45.8% YoY to Rs 5,001.3 crore, helped by improvements in the unitary cooling products, electro-mechanical projects & services, and engineering products & services segments. It shows up in a screener of high volume and high gain stocks.

  • Suven Pharmaceuticals' revenue falls 33.6% YoY to Rs 230.7 crore in Q1FY25, missing Forecaster estimates by 26.7%. Net profit declines 49.6% YoY to Rs 60.8 crore during the quarter. It appears in a screener of stocks where mutual funds decreased their shareholding in the last quarter.

  • Ahead of the MSCI India Standard Index rejig, JM Financial expects eight stock additions, including Dixon Technologies, Railway Vikas Nigam (RVNL), and Vodafone Idea, among others. The brokerage anticipates the eight stocks will likely attract passive inflows worth $1.239 billion.

  • Anup Engineering surges as it secures two critical orders totaling over Rs 100 crore, with approximately 90% of the value coming from a European EPC contractor for a project in the UAE.

  • Shipping Corp of India surges as its net profit grows by 69.9% YoY to Rs 291.5 crore in Q1FY25. Revenue rises by 27% YoY to Rs 1,558.4 crore due to improvements in the liner, build carrier, tanker, and technical & offshore segments. It features in a screener of stocks with rising net cash flow over the past two years.

  • Balkrishna Industries' revenue rises 25.7% YoY to Rs 2,714.5 crore in Q1FY25, beating Forecaster estimates by 7.8%. Net profit grows 47.6% YoY to Rs 490 crore during the quarter. It appears in a screener of stocks with quarterly net profit growth and increasing profit margin YoY.

  • Reports suggest that CVC Capital Partners has outbid EQT to become the top contender for Aavas Financiers. The current promoters, Kedaara Capital and Partners Group were looking to exit their eight-year investment, which has yielded a 6x return. They hold around 26.5% stake in Aavas, with Kedaara Capital owning a marginally higher share than Partners Group.

  • Inox Wind rises sharply as it posts a net profit of Rs 51.8 crore in Q1FY25, compared to a net loss of Rs 64.4 crore in Q1FY24. Revenue grows by 84.7% YoY to Rs 650.5 crore due to an increase in the order book by 254% YoY during the quarter. It appears in a screener of stocks with growth in operating profit and margin (YoY).

  • Aurobindo Pharma's Q1FY25 net profit rises 61% YoY to Rs 919.2 crore due to lower material costs. Revenue increases 10.5% YoY to Rs 7,567 crore during the quarter. The company features in a screener of companies with increasing revenue over the past four quarters.

  • Siemens' Q1FY25 net profit grows by 26.8% YoY to Rs 577.7 crore, led by lower inventory costs. Revenue grows by 7.1% YoY to Rs 5,360.3 crore, driven by improvements in the smart infrastructure, mobility, and digital industries segments. It features in a screener of stocks with negative to positive growth in sales and profit with strong price momentum.

  • Abhijit Roy, Managing Director of Berger Paints, notes the limited impact of new entrants. He highlights the 2.5% price hike taken by the company, and expects improved margins going forward. Roy projects a volume growth of around 14-15% in H2, and market share in the 20-21% range.

  • CESC surges as its Q1FY25 net profit rises 8.9% YoY to Rs 378 crore. Revenue declines 12.8% YoY to Rs 4,863 crore during the quarter, driven by increased power demand amid strong manufacturing activity and scorching summer weather. The company features in a screener of stocks with zero promoter pledge.

  • Jubilant Foodworks rises to its 52-week high of Rs 621.7 per share as its net profit surges by 93% YoY to Rs 55.8 crore in Q1FY25. Revenue grows by 45.1% YoY to Rs 1,950.2 crore due to increased sales from Domino's and new customer additions. It appears in a screener of stocks with high momentum scores.

  • Mazagon Dock Shipbuilders rises as it secures a contract worth Rs 4,676 crore from Oil and Natural Gas Corp (ONGC) for wellhead platforms and associated pipeline project (DSF-II) on an EPC reimbursable basis.

  • Bajaj Consumer Care falls as its Q1FY25 net profit drops 19.7% YoY to Rs 37.1 crore. Revenue declines 9% YoY to Rs 245.9 crore during the quarter due to planned one-time market hygiene corrections in wholesale discounts and rationalization of schemes. The company appears in a screener of stocks with increasing revenue every quarter for the past three quarters.

  • Nifty 50 was trading at 24,268.70 (-98.8, -0.4%), BSE Sensex was trading at 79,466.87 (-239.0, -0.3%) while the broader Nifty 500 was trading at 22,790.40 (-133.1, -0.6%).

  • Market breadth is sharply down. Of the 1,958 stocks traded today, 547 were gainers and 1,372 were losers.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (575.85, 11.1%), Voltas Ltd. (1,582.55, 10.8%) and Jubilant Foodworks Ltd. (651.35, 8.8%).

Downers:

Largecap and midcap losers today include Balkrishna Industries Ltd. (2,844.65, -7.0%), Life Insurance Corporation of India (1,074.35, -5.2%) and Astral Ltd. (1,937.90, -4.6%).

Volume Shockers

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

Top high volume gainers on BSE included Inox Wind Ltd. (208.55, 19.7%), Rail Vikas Nigam Ltd. (575.85, 11.1%) and Voltas Ltd. (1,582.55, 10.8%).

Top high volume losers on BSE were Sun TV Network Ltd. (818.80, -10.7%), Balkrishna Industries Ltd. (2,844.65, -7.0%) and Bharat Dynamics Ltd. (1,343.95, -6.3%).

Star Cement Ltd. (214.17, 7.7%) was trading at 11.3 times of weekly average. PNC Infratech Ltd. (484.60, 4%) and Jubilant Foodworks Ltd. (651.35, 8.8%) were trading with volumes 9.2 and 9.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

28 stocks took off, crossing 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (4,813.35, 2.2%), Ajanta Pharma Ltd. (3,069.90, 2.4%) and Aurobindo Pharma Ltd. (1,461.80, 0.8%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (77.46, -1.6%).

9 stocks climbed above their 200 day SMA including Redington Ltd. (199.41, 4.9%) and NMDC Ltd. (229.63, 3.7%). 13 stocks slipped below their 200 SMA including Aster DM Healthcare Ltd. (385.50, -5.5%) and Mishra Dhatu Nigam Ltd. (420.70, -5.0%).

 
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