Trendlyne Marketwatch
Trendlyne Marketwatch
14 Aug 2024
Market closes flat, Mazagon Dock Shipbuilders net profit surges 121.5% YoY to Rs 696.1 crore
By Trendlyne Analysis

 

Nifty 50 closed at 24,143.75 (4.8, 0.0%) , BSE Sensex closed at 79,105.88 (149.9, 0.2%) while the broader Nifty 500 closed at 22,672.65 (-33.2, -0.2%). Market breadth is overwhelmingly negative. Of the 2,225 stocks traded today, 732 were gainers and 1,471 were losers.

Indian indices closed flat after switching between losses and gains throughout the day. The Indian volatility index, Nifty VIX, fell 4.5% and closed at 15.4 points. SJVN closed 3.7% higher as its Q1FY25 net profit rose 31.4% YoY to Rs 357.1 crore. Revenue grew 29% YoY to Rs 870.4 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red. Nifty Media and Nifty Metal closed lower. According to Trendlyne’s sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 1.5%.

European indices traded higher, while Asian indices closed mixed. US index futures traded higher, indicating a positive start to the trading session. Confectionery and food giant Mars reportedly nears a deal to acquire Pringles and Pop-Tarts maker Kellanova in a deal worth more than $29 billion.

  • Money flow index (MFI) indicates that stocks like Ajanta Pharma, Triveni Turbine, Natco Pharma, and Lupin are in the overbought zone.

  • Mazagon Dock Shipbuilders rises sharply as its revenue increases 8.5% YoY to Rs 2,172.8 crore in Q1FY25. Net profit surges 121.5% YoY to Rs 696.1 crore during the quarter due to lower material costs. It shows up in a screener of stocks outperforming their industry price change during the quarter.

  • Muthoot Finance's revenue grows 28.9% YoY to Rs 4,473.9 crore in Q1FY25, beating the Forecaster estimates by 95.5%. Net profit increases 14.5% YoY to Rs 1195.7 crore during the quarter, helped by a deferred tax credit of Rs 38 crore. It appears in a screener of stocks with increasing profits every quarter for the past four quarters.

  • Gabriel India surges as its Q1FY25 net profit rises 37.1% YoY to Rs 57.6 crore. Revenue grows 17.5% YoY to Rs 805.7 crore during the quarter, driven by higher sales in the utility vehicles and van segments. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Alok Gupta, Managing Director of Allied Blenders & Distillers, highlights the company’s target to achieve double-digit volume growth in FY25. He projects margins in the 11-12% range in FY25. Gupta says the firm aims for revenue of Rs 5,500 crore in FY27, with margins over 15%.

  • Swan Energy's net profit grows by 87.7% YoY to Rs 138.9 crore in Q1FY25, helped by lower finance costs. Revenue rises by 43.7% YoY to Rs 1,161.6 crore, owing to improvements in the energy and distribution & development segments. It features in a screener of stocks with increasing net cash flow and cash from operating activities.

  • Nazara Technologies' revenue declines 1.6% YoY to Rs 250.1 crore in Q1FY25 due to weak performance in the gaming and Ad tech segments. However, net profit rises by 16% YoY to Rs 22.6 crore during the quarter, owing to lower cost of stock in trade. It appears in a screener of stocks with quarterly net profit growth and increasing profit margin YoY.

  • MTAR Technologies falls as its Q1FY25 net profit drops 78.2% YoY to Rs 4.4 crore, driven by high employee benefits and inventory expenses. Revenue declines 15.9% YoY to Rs 128.3 crore during the quarter. The company appears in a screener of stocks with declining profits for the past two quarters.

  • Piramal Enterprises declines sharply after CLSA downgrades its rating to ‘Underperform’ with a lower target price of Rs 860. The brokerage notes negative credit costs and one-off gains have supported the company’s operating profit performance. It highlights that some segments of the retail book continue to see a deteriorating 90-plus days past due (DPD) trend, and believes this may add pressures to growth and credit costs.

  • KR Choksey downgrades Sun Pharmaceutical Industries to 'Accumulate' from 'Buy' with an unchanged target price of Rs 1,827 per share. This indicates a potential upside of 5.1%. The brokerage is cautious about the company due to its slow growth rate in the US and the rest of the world (ROW) segments combined with the QoQ volume decline in Winlevi. It expects the firm's revenue to grow at a CAGR of 10.4% over FY25-26.

  • HEG falls sharply as its revenue declines 14.9% YoY to Rs 571.5 crore in Q1FY25 due to reduced graphite production. Net profit decreases by 83.4% YoY to Rs 23 crore during the quarter. The company announces a 1:5 stock split, pending member approval. It has also received a show cause notice for Rs. 282.3 crore IGST refund and penalty.

  • Manappuram Finance falls sharply as its Q1FY25 net profit misses Forecaster estimates by 4.4%, despite growing by 11.8% YoY to Rs 554.6 crore. Revenue rises by 22.1% YoY to Rs 2,511.9 crore due to improvements in the gold loan and microfinance segments. It appears in a screener of stocks with increasing provisions in recent results.

  • India’s WPI inflation eases to 2% in July from a 16-month high of 3.4% in June, driven by reduced prices of food articles, manufactured products, mineral oils, and crude petroleum & natural gas.

  • Gensol Engineering's consortium with Matrix Gas and Renewables secures an order worth Rs 450 crore to set up a 300 MW plant. This includes a previously awarded 63 MW in the first tranche of the SECI tender under the production-linked incentive (PLI) scheme to set up a hydrogen electrolyser manufacturing plant.

  • Marksans Pharma rises sharply as its revenue grows 18.1% YoY to Rs 590.6 crore in Q1FY25. Net profit rises 29.3% YoY to Rs 88.8 crore during the quarter, helped by inventory destocking. It appears in a screener of stocks where FII/FPI and institutions are increasing their shareholding.

  • Hero MotoCorp's Q1FY25 net profit rises 47.3% YoY to Rs 1,045.9 crore. Revenue grows 15.4% YoY to Rs 10,210.8 crore during the quarter, driven by a sharp recovery in market share in the 125 cc segment, fueled by the new Xtreme 125 cc model. The company appears in a screener of stocks with an improving book value per share over the past two years.

  • Companies like Tata Steel, NMDC, and MOIL are falling after the Supreme Court rules that states can recover past dues on mineral rights from April 1, 2005 in terms of royalty and tax from mining companies. The tax on mineral wealth will be applied retrospectively and companies can pay taxes in a staggered manner over 12 years.

  • FSN E-Commerce Ventures is rising as its net profit surges 192.1% YoY to Rs 9.6 crore in Q1FY25. Revenue increases 22.7% YoY to Rs 1,753.4 crore due to improvements in the fashion and beauty segments. The company plans to buy an additional 39% stake in Dot & Key for Rs 265 crore.

  • Bombay Dyeing executes definitive agreements with Goisu Realty for the Phase-II sale of its Worli land, receiving Rs 537.8 crore in total.

  • SJVN surges as its Q1FY25 net profit rises 31.4% YoY to Rs 357.1 crore. Revenue grows 29% YoY to Rs 870.4 crore during the quarter, driven by higher energy generation from hydro and solar power. The company appears in a screener of stocks with an improving book value per share for the last two years.

  • JP Morgan maintains its ‘Overweight’ rating on Rainbow Childrens Medicare with a target price of Rs 1,530. The brokerage says Q1 revenue aligned with estimates, while EBITDA exceeded expectations. It notes the decline in ARPOBs (average revenue per occupied bed) due to a high base, but highlights the uptick in occupancy at mature and new hospitals.

  • Ahluwalia Contracts plunges as its net profit declines by 38.5% YoY to Rs 30.6 crore in Q1FY25 due to higher raw material, construction, sub-contracting, employee benefits, and finance costs. However, revenue grows by 20.7% YoY to Rs 930.1 crore, owing to a rise in the contract work segment. It shows up in a screener of stocks with declining net cash flow.

  • Vedanta's board approves the sale of up to 11 crore equity shares, representing a 2.6% stake in Hindustan Zinc, through an offer for sale (OFS).

  • NBCC (India) rises sharply as its net profit grows by 39.2% YoY to Rs 104.6 crore in Q1FY25. Revenue increases 11.3% YoY to Rs 2,197.8 crore, driven by improvements in the project management consultancy (PMC), real estate, and the engineering, procurement & construction (EPC) segments. It appears in a screener of stocks with increasing return on capital employed (RoCE) over the past two years.

  • Apollo Hospitals is rising as its net profit surges 81.9% YoY to Rs 315.5 crore in Q1FY25. Revenue grows by 15.2% YoY to Rs 5,122.8 crore, driven by improvements in the Apollo Health & Lifestyle, healthcare services, and pharmacy distribution & digital health segments. It features in a screener of stocks with increasing revenue for the past eight quarters.

  • Nifty 50 was trading at 24145.20 (6.2, 0.0%) , BSE Sensex was trading at 79065.22 (109.2, 0.1%) while the broader Nifty 500 was trading at 22707.15 (1.4, 0.0%)

  • Market breadth is in the red. Of the 1918 stocks traded today, 850 were on the uptick, and 1018 were down.

Riding High:

Largecap and midcap gainers today include One97 Communications Ltd. (538.80, 6.5%), PB Fintech Ltd. (1,574.05, 6.2%) and UNO Minda Ltd. (1,107, 5.6%).

Downers:

Largecap and midcap losers today include NMDC Ltd. (210.94, -6.0%), Suzlon Energy Ltd. (76.77, -5.0%) and Oil India Ltd. (658.90, -4.1%).

Volume Rockets

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

Top high volume gainers on BSE included Chennai Petroleum Corporation Ltd. (965.70, 7.9%), PB Fintech Ltd. (1,574.05, 6.2%) and SJVN Ltd. (142.13, 3.7%).

Top high volume losers on BSE were Piramal Enterprises Ltd. (882.40, -10.5%), Hero MotoCorp Ltd. (5,072.45, -3.3%) and SKF India Ltd. (5,099.70, -2.2%).

V-Guard Industries Ltd. (519.10, -0.2%) was trading at 11.4 times of weekly average. ICICI Securities Ltd. (805.65, 2.5%) and Apollo Hospitals Enterprise Ltd. (6,515.85, -1.1%) were trading with volumes 6.1 and 5.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks took off, crossing 52 week highs, while 4 stocks hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (3,045.90, -4.1%), Oil India Ltd. (658.90, -4.1%) and Trent Ltd. (6,438.35, 0.9%).

Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (70.60, -1.1%) and RBL Bank Ltd. (205.67, -4%).

8 stocks climbed above their 200 day SMA including One97 Communications Ltd. (538.80, 6.5%) and Mahindra Lifespace Developers Ltd. (587.55, 4.5%). 28 stocks slipped below their 200 SMA including Piramal Enterprises Ltd. (882.40, -10.5%) and NMDC Ltd. (210.94, -6.0%).

 
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