Trendlyne Marketwatch
Trendlyne Marketwatch
25 Oct 2024
Market closes lower, HPCL's net profit falls 97.6% YoY to Rs 142.7 crore in Q2FY25
By Trendlyne Analysis

 

Nifty 50 closed at 24,180.80 (-218.6, -0.9%) , BSE Sensex closed at 79,402.29 (-662.9, -0.8%) while the broader Nifty 500 closed at 22,499.05 (-288.8, -1.3%). Market breadth is highly negative. Of the 2,304 stocks traded today, 358 were on the uptick, and 1,921 were down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,180.8 points. The Indian volatility index, Nifty VIX, rose 4.7% and closed at 14.6 points. Hindustan Petroleum Corp's net profit plunged by 97.6% YoY to Rs 142.7 crore in Q2FY25 due to higher raw material, inventory, excise duty, and finance costs. However, revenue grew by 5.6% YoY to Rs 1.1 lakh crore.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, following the benchmark index. S&P BSE Midsmallcap and S&P BSE Large MidCap were among the top index gainers today. According to Trendlyne’s Sector dashboard, Food Beverages & Tobacco emerged as the best-performing sector of the day, with a rise of 0.5%.

Asian indices closed mixed while European indices are trading in the green. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the green. Crude prices are recovering from two weeks of significant losses due to rising concerns over slowing demand. Macquarie observes that weak supply and demand fundamentals are likely to diminish any positive effects stemming from stimulus measures from China.

  • Relative strength index (RSI) indicates that stocks like Indraprastha Gas, Hindustan Unilever, and Nestle India are in the oversold zone.

  • Hindustan Petroleum Corp's net profit plunges by 97.6% YoY to Rs 142.7 crore in Q2FY25 due to higher raw material, inventory, excise duty, and finance costs. However, revenue grows by 5.6% YoY to Rs 1.1 lakh crore, helped by an improvement in the downstream petroleum segment. It features in a screener for stocks where mutual funds increased their shareholding in the past quarter.

  • Patanjali Foods' Q2FY25 net profit grows 21.4% YoY to Rs 309 crore, helped by lower raw materials and finance costs. Revenue increases by 4.5% YoY to Rs 8,198.5 crore during the quarter, attributed to the edible oils segment. It features in a screener of stocks with rising net profit margins (QoQ and TTM).

  • Finolex Industries is falling as its net profit misses Forecaster estimates by 65.7% as it declines 58.5% YoY to Rs 40.7 crore in Q2FY25. Revenue decreases 6.2% YoY to Rs 828.4 crore due to volatility in PVC price, and prolonged monsoon during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past two quarters.

  • The Reserve Bank of India (RBI) approves the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of Axis Bank for three more years, effective January 1. The bank's shareholders had approved Chaudhry’s re-appointment at the 30th Annual General Meeting on July 26.

  • Atul's Q2FY25 revenue grows 16.7% YoY to Rs 1,392.8 crore, driven by improvements in life science chemicals and performance & other chemicals segments. Net profit increases 51.5% YoY to Rs 136.8 crore during the quarter. The company features in a screener of stocks with growing quarterly net profit and profit margin (QoQ).

  • Indian Energy Exchange's net profit grows by 25.3% YoY to Rs 108.3 crore in Q2FY25. Revenue rises by 26.2% YoY to Rs 167.8 crore, helped by higher industrialization and consumer demand. It features in a screener of stocks with increasing revenue for the past four quarters.

  • Oracle Financial Services Software's net profit fell 6.3% QoQ to Rs 577.7 crore. Revenue declines 3.9% QoQ to Rs 1,673.9 crore, driven by lower sales from product licenses and related activities segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding in the last month.

  • Reliance Jio reports a reduction of 40.2 lakh wireless subscribers on a net basis in August, while Bharti Airtel loses 24.1 lakh. Vodafone Idea’s subscribers also decline, with a loss of 18.7 lakh on a net basis.

  • Petronet LNG's revenue grows 3.9% YoY to Rs 13,024.3 crore, missing Trendlyne's Forecaster estimates by 1.6%. Net profit rises by 1.4% YoY to Rs 863.2 crore during the quarter. The company appears in a screener of stocks with revenue declining over the past two quarters.

  • CIE Automotive India is falling as its net profit declines by 48% YoY to Rs 195.2 crore in Q2FY25 due to higher profit in Q2FY24 from discontinued operations. Revenue declines by 6.1% to Rs 2,158.9 crore due to a reduction in the Indian and European markets. It shows up in a screener of stocks with high market cap and lower public shareholding.

  • Bikaji Foods International rises sharply as its net profit grows 13% YoY to Rs 69.2 crore in Q2FY25, helped by inventory destocking. Revenue increases 15.8% YoY to Rs 704 crore during the quarter. However, EBITDA margin declines by 150 bps. The company appears in a screener of stocks with book value per share improving over the past two years.

  • Grain-based distilleries are urging the Centre to instruct oil marketing companies (OMCs) to raise the procurement price of ethanol made from maize and damaged food grains to prevent heavy losses. CK Jain, President of the Grain Ethanol Manufacturers Association, notes current maize prices have led to losses of about Rs 10.3 per litre for dedicated ethanol plants, with damaged food grains at around Rs 10.2 per litre. He called for an immediate price increase for ethanol procurement by Rs 4-5 per litre.

  • Larsen & Toubro secures an order worth Rs 1,000-2,500 crore from the ITER Organisation, an intergovernmental body headquartered in France. The contract involves deploying advanced technologies to assemble ports and complex components with the Vacuum Vessel at the world’s largest nuclear fusion project in Cadarache, Southern France.

  • Cyient rises sharply as its Q2FY25 net profit grows 24.5% QoQ to Rs 179.1 crore. Revenue increases 12% QoQ to Rs 1,900.2 crore, helped by improvements in the digital, engineering & technology (DET) and design-led manufacturing (DLM) segments. It shows up in a screener of stocks with rising net cash flow and cash from operating activity.

  • Insolation Energy’s subsidiary, Insolation Green Energy, secures a Rs 208.3 crore order from Zetwerk Manufacturing to supply 550 Wp solar PV modules for NTPC’s Khavada site in Gujarat, to be completed by FY25.

  • Radico Khaitan delivers strong performance in the Prestige & Above (P&A) segment, with volumes rising by 12.6% to 3.2 million cases in Q2FY25. P&A net sales increased 18% to Rs 578 crore, contributing 75.7% to overall sales, up from 70%. However, the company's total Indian Made Foreign Liquor (IMFL) volumes declined by 2.5%, totaling 6.78 million cases in Q2.

  • PNB Housing Finance is rising as its net profit grows 22.6% YoY to Rs 469.7 crore in Q2FY25, driven by better management of financial losses and write-offs. Revenue increases 5.7% YoY to Rs 1,878.7 crore during the quarter. It features in a screener of stocks with zero promoter pledge.

  • Adani Ports & Special Economic Zone's subsidiary, The Adani Harbour International DMCC, acquires an 80% stake in Astro Offshore group for a consideration of $194.8 million (approx. Rs 1,637.6 crore).

  • DCB Bank is rising as its net profit grows 22.6% YoY to Rs 155.5 crore in Q2FY25. Revenue increases 20.1% YoY to Rs 1,568.4 crore, driven by improvements in the treasury, corporate, and retail banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs contract by 7 bps and 11 bps YoY, respectively.

  • Investec maintains its ‘Hold’ rating on IndusInd Bank with a target price of Rs 1,410. The brokerage highlights that muted growth in MFI and stress in credit cards impacted NIMs (net interest margins) and fee income. Investec believes the bank may need a few more quarters to improve its fundamentals. The next key trigger will be the CEO decision from RBI.

  • Dixon Technologies rises to its all-time high of Rs 15,900 per share as its net profit surges by 3.6x YoY to Rs 389.9 crore in Q2FY25. Revenue grows by 2.3x YoY to Rs 11,528.4 crore during the quarter. It features in a screener of stocks with book value per share improving over the past two years.

  • NTPC is falling as its revenue misses Forecaster estimates by 5.1% after declining marginally to Rs 44,696.3 crore in Q2FY25. However, net profit increases 14.3% YoY to Rs 5,274.6, driven by lower fuel costs and electricity purchases during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Coromandel International is falling as its net profit declines by 12.3% YoY to Rs 664.1 crore in Q2FY25 due to higher raw materials, employee benefits, and freight & distribution expenses. However, revenue grows by 6.6% YoY to Rs 7,497.8 crore, driven by the nutrient & other allied businesses and crop protection segments. It appears in a screener of stocks where promoters are decreasing their shareholding.

  • Godrej Consumer Products' net profit grows 13.5% YoY to Rs 491.3 crore in Q2FY25, attributed to inventory destocking and lower raw material costs. Revenue increases 1.8% YoY to Rs 3,666.3 crore, driven by higher sales from India and Indonesia during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Nifty 50 was trading at 24,412.95 (13.6, 0.1%) , BSE Sensex was trading at 80,187.34 (122.2, 0.2%) while the broader Nifty 500 was trading at 22,782.85 (-5, 0.0%)

  • Market breadth is in the red. Of the 1,894 stocks traded today, 758 were in the positive territory and 1,084 were negative.

Riding High:

Largecap and midcap gainers today include Indian Hotels Company Ltd. (691.25, 3.6%), Max Healthcare Institute Ltd. (938, 3.5%) and Torrent Pharmaceuticals Ltd. (3,432.85, 3.4%).

Downers:

Largecap and midcap losers today include IndusInd Bank Ltd. (1,041.60, -18.6%), Hindustan Petroleum Corporation Ltd. (372.40, -8.0%) and Dixon Technologies (India) Ltd. (13,937.20, -7.4%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Thermax Ltd. (5,431.15, 4.8%), Laurus Labs Ltd. (465.80, 4.1%) and Jammu & Kashmir Bank Ltd. (97.63, 4.0%).

Top high volume losers on BSE were IndusInd Bank Ltd. (1,041.60, -18.6%), Poonawalla Fincorp Ltd. (297.05, -17.2%) and Dixon Technologies (India) Ltd. (13,937.20, -7.4%).

Chalet Hotels Ltd. (842.80, 0.8%) was trading at 21.2 times of weekly average. Home First Finance Company India Ltd. (1,102, -1.0%) and Radico Khaitan Ltd. (2,268.50, -1.2%) were trading with volumes 17.0 and 8.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks made 52 week highs, while 20 stocks hit their 52 week lows.

Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,133.70, 0.7%), Coforge Ltd. (7,739.85, 0.5%) and Radico Khaitan Ltd. (2,268.50, -1.2%).

Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (65.50, -3.8%) and IndusInd Bank Ltd. (1,041.60, -18.6%).

4 stocks climbed above their 200 day SMA including Kotak Mahindra Bank Ltd. (1,768.85, 0.4%) and Asian Paints Ltd. (2,958, -0.5%). 52 stocks slipped below their 200 SMA including Au Small Finance Bank Ltd. (604.50, -6.4%) and Finolex Cables Ltd. (1,189.55, -5.6%).

 
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