Trendlyne Marketwatch
Trendlyne Marketwatch
15 Oct 2024
Market closes lower, Newgen Software's profit surges 47.8% QoQ to Rs 70.3 crore in Q2FY25
By Trendlyne Analysis

 

 

Nifty 50 closed at 25,057.35 (-70.6, -0.3%) , BSE Sensex closed at 81,820.12 (-152.9, -0.2%) while the broader Nifty 500 closed at 23,735.70 (8.7, 0.0%). Market breadth is neutral. Of the 2,310 stocks traded today, 1,120 showed gains, and 1,154 showed losses.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 25,057.4 points. The Indian volatility index, Nifty VIX, rose 0.1% and closed at 13 points. Reliance Industries’ net profit declined by 4.8% YoY to Rs 16,563 crore in Q2FY25. The stock declined by over 2% post results.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green. BSE Realty index and Nifty Realty were among the top index gainers today. According to Trendlyne’s Sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a jump of over 2.9%.

Asian indices closed in the red while European indices are trading mixed. US index futures traded in the red, indicating a cautious start to the trading session. Brent crude oil futures are trading in the red. Nvidia mentioned that its customers are still purchasing its current range of chips. However, it also noted that the production of its next-generation Blackwell chips has been postponed until the fourth quarter.

  • Money flow index (MFI) indicates that stocks like Usha Martin, Hitachi Energy India, Ipca Laboratories, and National Aluminium are in the overbought zone.

  • Newgen Software Technologies' net profit surges by 47.8% QoQ to Rs 70.3 crore in Q2FY25. Revenue grows by 12.6% QoQ to Rs 379.7 crore, driven by improvements in the Indian, Europe, the Middle East and Africa (EMEA), Asia-Pacific (APAC), and USA markets. It features in a screener of stocks with growth in quarterly net profit and profit margin.

  • Bank of Maharashtra is rising as its net profit surges 44.2% YoY to Rs 1,326.8 crore in Q2FY25. Revenue grows 18.7% YoY to Rs 6,017.4 crore, driven by improvements in the treasury operations, corporate, and retail banking segments. The bank's asset quality improves as its gross and net NPAs contract by 35 bps and 3 bps YoY, respectively, during the quarter.

  • PVR Inox is rising as its revenue beats Forecaster estimates by 4.8%, despite declining 19% YoY to Rs 1,622 crore in Q2FY25. The company reports a net loss of 11.8 crore during the quarter, compared to a profit of Rs 166.3 crore in Q2FY24. It appears in a screener of stocks where FIIs and institutions have increased their shareholding.

  • Economists believe the Reserve Bank of India is unlikely to cut interest rates in December after September's inflation hit a nine-month high. Goldman Sachs Group and Deutsche Bank AG still anticipate an easing by the RBI in December but acknowledge the likelihood has increased that any potential cut may be delayed until next year.

  • RPP Infra Projects surges to its 5% upper circuit as it secures an order worth Rs 217.6 crore from the Chief Engineer & Project Director (EAP), Mumbai. The project involves improving the Kothore Digar Satana Malegaon Chalisgaon Pachora Shendurni Pahur Wakadi Road in Jalgaon District, Maharashtra.

  • Motilal Oswal upgrades Ipca Laboratories to 'Buy' from 'Neutral' with a higher target price of Rs 1,950 per share. This indicates a potential upside of 15%. The brokerage is positive on the stock, driven by a strong domestic brand franchise, improved US FDA compliance, US business revival, and synergic benefits of the Unichem acquisition. It expects the company's revenue to grow at a CAGR of 16.1% over FY25-27.

  • Exxaro Tiles is rising as its board of directors approves the sub-division/split of one equity share of the company having a face value of Rs 10 each, into ten equity shares with a face value of Rs 1 each.

  • Ahead of Nestle India’s earnings on Thursday, brokerages project net profit growth of 7-8% YoY for Q2FY25. Revenue is expected to grow by 5-7% YoY driven by price hikes taken by the company and believes sales growth momentum will continue.

  • BEML secures a contract worth Rs 866.9 crore from Integral Coach Factory (ICF), Chennai, to design, manufacture, and commission two high-speed trainsets, each comprising eight cars worth Rs 27.9 crore.

  • IFGL Refractories is rising as it forms a 51:49 joint venture (JV) with Seychelles-based Marvels International Group (MIG) to manufacture bricks in India.

  • KPI Green Energy is rising as it signs power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) for 620 megawatts alternating current (MWAC) of renewable energy projects. This includes a 250 MWAC grid-connected solar photovoltaic power project and a 370 MWAC grid-connected hybrid renewable energy project.

  • HSBC maintains its ‘Buy’ rating on Maruti Suzuki with a target price of Rs 14,500. The brokerage notes higher inventory levels amid a decline in sales of cars in Q2FY25. It expects weak dispatches in Q3 but bets on new launches lined up for 2025.

  • Lyka Labs is rising as it receives approval from the Central Drugs Standard Control Organisation (CDSCO) to manufacture and market Pregabalin Gel 8% w/w, used to treat diabetic neuropathic pain.

  • Sunteck Realty rises sharply as its pre-sales grow 32.7% YoY to Rs 524 crore in Q2FY25, helped by a 24.8% YoY increase in collections to Rs 267 crore. It appears in a screener of stocks with zero promoter pledge.

  • Garuda Construction and Engineering’s shares debut on the bourses at a 10.5% premium to the issue price of Rs 95. The Rs 264.1 crore IPO received bids for 7.5 times the total shares on offer.

  • SpiceJet resolves a $23.4 million (Rs 196.7 crore) dispute with Aircastle (Ireland) Designated Activity Co and Wilmington Trust SP Services (Dublin) outside of court for a total of $5 million (Rs 42 crore). The settlement also includes agreements regarding the handling of specific aircraft engines.

  • Angel One surges as its net profit grows by 39.1% YoY to Rs 423.4 crore in Q2FY25. Revenue increases by 44.5% YoY to Rs 1,516 crore, driven by improving client base, number of orders, and average daily turnover. It shows up in a screener of stocks that have gained over 20% in the past month.

  • TD Power Systems is rising as it secures two large orders worth Rs 142 crore from two international gas engine original equipment manufacturers (OEM) to supply gas engine generators.

  • HCL Technologies rises to its all-time high of Rs 1,882.8 per share as its Q2FY25 net profit beats Forecaster estimates by 5.6% despite staying flat at Rs 4,235 crore. Revenue grows by 0.5% QoQ to Rs 29,381 crore, helped by improvements in the IT & business services, engineering & R&D services, and HCL Software segments. It appears in a screener of stocks outperforming their industries over the past month.

  • India’s CPI inflation rises to a nine-month high of 5.5% in September. Food inflation rises to 9.2%, compared to 5.7% in August. Rural inflation is up at 5.9%, while urban inflation increases to 5.1% in September.

  • JSW Infrastructure is rising as it receives a letter of intent from the Maharashtra Maritime Board to develop, operate, manage, and maintain an all-weather multipurpose port in Murbe village, Palghar District, Maharashtra, under a Public Private Partnership (PPP) model.

  • Reliance Industries is falling as its net profit declines by 4.8% YoY to Rs 16,563 crore in Q2FY25 due to higher raw materials, excise, employee benefits, and finance costs. However, revenue grows 0.7% YoY to Rs 2.4 lakh crore, driven by improvements in the oil to chemicals (O2C) and digital services segments. It features in a screener of stocks with declining net cash flow.

  • Va Tech Wabag rises to a new all-time high of Rs 1,744.2 as it secures an order worth Rs 1,000 crore from Indosol Solar. The contract covers the design, engineering, supply, installation, testing, and commissioning of a 100 MLD desalination plant for Indosol Solar's solar PV manufacturing unit in Andhra Pradesh.

  • J Kumar Infraprojects is rising as it receives a work order worth Rs 297.8 crore from the Pune Municipal Corporation to develop the Mula River from Wakad Bypass to Sangvi Bridge.

  • Nifty 50 was trading at 25,198.50 (70.6, 0.3%), BSE Sensex was trading at 82,101.86 (128.8, 0.2%) while the broader Nifty 500 was trading at 23,796.75 (69.7, 0.3%).

  • Market breadth is in the green. Of the 1,933 stocks traded today, 1,184 were gainers and 690 were losers.

Riding High:

Largecap and midcap gainers today include Hindustan Petroleum Corporation Ltd. (422.90, 4.2%), Varun Beverages Ltd. (611.05, 3.3%) and Deepak Nitrite Ltd. (2,932.60, 3.0%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (559.45, -4.6%), HDFC Life Insurance Company Ltd. (714.25, -3.6%) and Bajaj Auto Ltd. (11,521.50, -3.2%).

Volume Rockets

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

Top high volume gainers on BSE included Angel One Ltd. (3,224.55, 18.4%), Motilal Oswal Financial Services Ltd. (924.45, 11.8%) and Network18 Media & Investments Ltd. (87.09, 10.1%).

Top high volume losers on BSE were Jindal Steel & Power Ltd. (968.70, -2.5%), Mahindra Holidays & Resorts India Ltd. (386.10, -1.3%) and Motherson Sumi Wiring India Ltd. (64.38, -0.9%).

Aether Industries Ltd. (937.25, -0.8%) was trading at 53.3 times of weekly average. Five-Star Business Finance Ltd. (894.75, 8.6%) and Sunteck Realty Ltd. (596.35, 7.6%) were trading with volumes 16.0 and 13.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

22 stocks made 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Divi's Laboratories Ltd. (6,106.70, -1.7%), Glenmark Pharmaceuticals Ltd. (1,804.90, -0.7%) and HCL Technologies Ltd. (1,870.10, 0.8%).

Stock making new 52 weeks lows included - CSB Bank Ltd. (306, 0.3%).

12 stocks climbed above their 200 day SMA including Angel One Ltd. (3,224.55, 18.4%) and Mastek Ltd. (2,908.25, 4.9%). 10 stocks slipped below their 200 SMA including NMDC Ltd. (232.08, -2.1%) and Tata Steel Ltd. (155.63, -1.7%).

 
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