Trendlyne Marketwatch
Trendlyne Marketwatch
13 Aug 2024
Market closes lower, Dilip Buildcon's net profit rises 1,036% to Rs 139.8 crore in Q1FY25
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,139 (-208, -0.9%) , BSE Sensex closed at 78,956.03 (-692.9, -0.9%) while the broader Nifty 500 closed at 22,705.80 (-210.1, -0.9%). Market breadth is moving down. Of the 2,251 stocks traded today, 561 showed gains, and 1,659 showed losses.

Markets closed lower after falling throughout the day. The Indian volatility index, Nifty VIX, rose 1.9% and closed at 16.2 points. JSW Steel's board has approved the acquisition of a 66.7% economic interest in the Australian mining company M Res NSW for $120 million (Rs 1,007.5 crore).

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Financial Services and S&P BSE Telecom were among the top index losers today. According to Trendlyne’s Sector dashboard, Textiles Apparels & Accessories emerged as the best-performing sector of the day, with a rise of 0.3%.

Asian indices closed in the green. European indices are trading mixed. US index futures are trading in the green except Small Cap 2000 which is trading in the red, indicating a positive start to the trading session. Brent crude oil futures are trading lower.

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

  • Godrej Industries' Q1FY25 net profit rises 81.1% YoY to Rs 322.5 crore due to reduced inventory costs. However, revenue falls 5.7% YoY to Rs 4,247.93 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Hindalco Industries' net profit grows by 25.3% YoY to Rs 3,074 crore in Q1FY25, helped by inventory destocking, lower power & fuel, and finance costs. Revenue increases by 7.6% YoY to Rs 57,437 crore, driven by improvements in the Novelis, upstream aluminium, downstream aluminum, and copper segments. It appears in a screener of stocks with improving cash flow from operations over the past two years.

  • Dilip Buildcon's revenue grows 7.3% YoY to Rs 3,134.2 crore in Q1FY25, driven by strong improvements in EPC projects & road infra maintenance segment. Net profit rises 1,036% YoY to Rs 139.8 crore helpd by inventory destocking and a deferred tax credit of Rs 75.3 crore. It appears in a screener of stocks with quarterly net profit growth and increasing profit margin YoY.

  • Happiest Minds Technologies falls as its Q1FY25 net profit drops 29.1% QoQ to Rs 51 crore due to non-recurring expenses and higher amortization & financing costs from recent acquisitions. However, revenue rises 11.1% QoQ to Rs 463.8 crore during the quarter. The company appears in a screener of stocks with improving operating cash flow over the past two years.

  • StoxBox anticipates Hero MotoCorp to deliver strong Q1FY25 results. The brokerage forecasts an expansion in EBITDA margins due to the company's focus on enhancing its portfolio. Hero MotoCorp is expected to capitalize on its strategic advancements in the 125cc and 400cc+ segments, and make steady progress in the electric two-wheeler market through new launches in the mid and mass segments this fiscal year.

  • IPCA Laboratories rises to its all-time high of Rs 1,402.6 per share as its net profit grows by 18.1% YoY to Rs 192.2 crore in Q1FY25. Revenue increases by 29.6% YoY to RS 2,113.2 crore, helped by an improvement in the the Indian and international markets. It shows up in a screener of stocks with low debt.

  • Dixon Technologies rises sharply as it acquires a 50.1% majority stake in Ismartu India for Rs 276 crore, completing the first tranche of the deal. This acquisition makes Ismartu a subsidiary of Dixon Technologies.

  • Man Industries' Q1FY25 net profit declines by 21.1% to Rs 19.1 crore due to higher inventory and employee benefits expenses. Revenue falls by 6.8% YoY to Rs 768.8 crore, caused by a decrease in the manufacturing segment. The company plans to set up a 0.4-0.5 million tonnes (MT) pipe manufacturing and coating facility in Saudi Arabia with an estimated capex of Rs 600 crore.

  • India's weight in the Morgan Stanley Capital International (MSCI) EM Index has increased from approximately 8% in 2020 to 20%, driven by recent gains in the Sensex and Nifty 50. Seven stocks, including Rail Vikas Nigam (RVNL), Dixon Technologies, and Vodafone Idea, were added to the MSCI Global Standard Index during the August rejig. However, Bandhan Bank exited the index.

  • Inox Wind surges as it receives an order for 51 MW from Everrenew Energy to supply its latest 3 MW wind turbine generators (WTGs) and provide post-commissioning multi-year operations and maintenance (O&M) services.

  • Olectra Greentech surges as its revenue grows 45.3% YoY to Rs 313.9 crore in Q1FY25, driven by improvements in the insulator and e-vehicle segments. Net profit rises 10.9% YoY to Rs 20.7 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

  • Axis Direct downgrades SAIL to 'Hold' from 'Buy' with a lower target price of Rs 130 per share. The brokerage is cautious about the stock due to the delays and capex overruns for its hot metal expansion project. It expects the company's revenue to grow at a CAGR of 2.4% over FY25-26.

  • Morgan Stanley Capital International (MSCI) announces the resumption of normal operations and the implementation of its index review, including adjustments to the number of shares (NOS), foreign inclusion factor (FIF), and domestic inclusion factor (DIF) for Adani Group and its associated securities. This decision comes amid ongoing scrutiny of the Adani Group companies following allegations from Hindenburg Research.

  • Brainbees Solutions' shares debut on the bourses at a 40% premium to the issue price of Rs 465. The Rs 4,193.7 crore IPO has received bids for 12.2 times the total shares on offer.

  • Campus Activewear falls as its Q1FY25 net profit drops 19.4% YoY to Rs 25.4 crore. Revenue declines 4.1% YoY to Rs 339.2 crore during the quarter, impacted by weak demand in rural and semi-urban areas due to the general elections. The company appears in a screener of stocks with improving operating cash flow over the past two years.

  • Hindustan Copper rises sharply as its Q1FY25 net profit surges by 139.8% YoY to Rs 113.4 crore, helped by inventory destocking. Revenue grows by 30.1% YoY to Rs 500.4 crore during the quarter. It features in a screener of stocks with growth in operating profit and increasing operating profit margin (YoY).

  • Goldman Sachs downgrades Bata India to ‘Sell’ with a lower target price of Rs 1,300. The brokerage notes the company’s deteriorating SSSG growth trend, and the lag in distribution channel sales. It adds that Bata’s initiatives are taking longer to yield results, and highlights muted sales growth.

  • Unicommerce eSolutions' shares debut on the bourses at a 117.6% premium to the issue price of Rs 108. The Rs 276.6 crore IPO has received bids for 168.3 times the total shares on offer.

  • JSW Steel's board approves the acquisition of M Res NSW for $120 million (Rs 1,007.5 crore) through its wholly-owned subsidiary, JSW Steel (Netherlands). The company will acquire a 66.7% economic interest in M Res NSW by subscribing to its non-voting Class B shares.

  • Senco Gold rises sharply as its net profit surges by 85.3% YoY to Rs 51.3 crore in Q1FY25, driven by inventory destocking. Revenue grows by 7.7% YoY to Rs 141.6 crore during the quarter. It shows up in a screener of stocks with book value improving over the past two years.

  • India’s CPI inflation eases to a five-year low of 3.5% in July, led by the base effect. Food inflation moderates to 5.1%, compared to 8.4% in June. Rural inflation falls to 4.1% in July, while urban inflation stands at 3%.

  • NMDC's Q1FY25 net profit rises 19.3% YoY to Rs 1,970.8 crore, driven by reduced inventory and lower royalty and levy expenses. Revenue grows marginally by 0.4% YoY to Rs 5,414.2 crore during the quarter. The company features in a screener of stocks with improving net cash flow over the past two years.

  • Housing and Urban Development Corp is rising as its net profit grows by 25.2% YoY to Rs 557.8 core in Q1FY25, owing to lower employee benefits and deferred tax expenses. Revenue increases by 18.7% YoY to Rs 2,197.2 crore during the quarter. It appears in a screener of stocks with improving revenue for the past four quarters.

  • Jubilant Industries surges as its Q1FY25 net profit rises 25.7% YoY to Rs 25.8 crore due to lower material costs. Revenue grows 2.7% YoY to Rs 358.1 crore during the quarter, driven by higher sales from the performance polymers & chemicals segment. The company appears in a screener of stocks with the highest recovery from 52-week lows.

  • Vodafone Idea is rising as its net loss contracts 18% YoY to Rs 6,432.1 crore in Q1FY25, owing to lower network, IT outsourcing, license, spectrum usage, marketing, content, customer acquisition, and finance costs. Revenue grows by 0.8% YoY to Rs 10,764.6 crore during the quarter. It features in a screener of stocks outperforming their industries in the past quarter.

  • Nifty 50 was trading at 24339 (-8, 0.0%) , BSE Sensex was trading at 79552.51 (-96.4, -0.1%) while the broader Nifty 500 was trading at 22927.80 (12.0, 0.1%)

  • Market breadth is in the green. Of the 1974 stocks traded today, 1173 were on the uptrend, and 761 went down.

Riding High:

Largecap and midcap gainers today include PB Fintech Ltd. (1,482.65, 3.8%), Oil India Ltd. (687.35, 3.0%) and Aurobindo Pharma Ltd. (1,505.80, 3.0%).

Downers:

Largecap and midcap losers today include Zydus Lifesciences Ltd. (1,175.45, -6.0%), Hindustan Zinc Ltd. (580, -5.6%) and Deepak Nitrite Ltd. (2,847.80, -5.6%).

Volume Rockets

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

Top high volume gainers on BSE included Triveni Turbine Ltd. (787.05, 12.3%), Kaynes Technology India Ltd. (4,670, 8.6%) and Olectra Greentech Ltd. (1,653.40, 7.2%).

Top high volume losers on BSE were Aarti Industries Ltd. (621.15, -15.5%), AIA Engineering Ltd. (4,547.20, -5.5%) and Cello World Ltd. (882.15, -3.0%).

Godrej Industries Ltd. (888.65, -1.2%) was trading at 18.0 times of weekly average. ICICI Securities Ltd. (785.90, 3.8%) and JBM Auto Ltd. (1,903.45, 3.4%) were trading with volumes 8.3 and 7.3 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 were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (3,180, 3.7%), Aurobindo Pharma Ltd. (1,505.80, 3.0%) and Cipla Ltd. (1,583.45, -0.2%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (75.15, -3.0%).

7 stocks climbed above their 200 day SMA including Olectra Greentech Ltd. (1,653.40, 7.2%) and Shree Renuka Sugars Ltd. (47.36, 2.6%). 22 stocks slipped below their 200 SMA including Aarti Industries Ltd. (621.15, -15.5%) and Navin Fluorine International Ltd. (3,277.05, -5.5%).

 
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