Trendlyne Marketwatch
Trendlyne Marketwatch
13 Nov 2024
Market closes lower, Kalyan Jewellers' net profit falls 3.4% YoY to Rs 130.6 crore in Q2FY25
By Trendlyne Analysis

 

Nifty 50 closed at 23,559.05 (-324.4, -1.4%) , BSE Sensex closed at 77,690.95 (-984.2, -1.3%) while the broader Nifty 500 closed at 21,914.95 (-416.1, -1.9%). Market breadth is sharply down. Of the 2,257 stocks traded today, 201 were on the uptick, and 2,046 were down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 23,559.1 points. The Indian volatility index, Nifty VIX, increased by 5.7% and closed at 15.7 points. India’s CPI inflation jumped to a 14-month high of 6.2% in October, breaching RBI’s medium-term target of 2-6%, driven by surging food prices.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, following the benchmark index. S&P BSE Allcap and S&P BSE Large MidCap were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 1.5%.

Asian indices closed mixed while European indices are trading in the green. US index futures traded in the red, indicating a cautious start to the trading session. Brent crude oil futures are trading in the green. Shopify soared 20% after the Canadian e-commerce retailer forecast Q4 revenue growth above estimates. Netflix was also in the spotlight after it announced that the advertising-tier of its streaming service now has 70 million monthly active users.

  • Relative strength index (RSI) indicates that stocks like Colgate-Palmolive (India), Asian Paints, and Aurobindo Pharma are in the oversold zone.

  • Kalyan Jewellers India falls sharply as its net profit declines by 3.4% YoY to Rs 130.6 crore in Q2FY25, caused by increased raw materials, employee benefits, and finance costs. However, revenue grows by 37.6% YoY to Rs 6,091.4 crore, led by improvements in the domestic and Middle Eastern markets. It shows up in a screener of stocks with the highest increase in promoter pledges.

  • Suven Pharmaceuticals is rising as its net profit beats Forecaster estimates by 41.2% as it grows 3.3% YoY to Rs 82.2 crore in Q2FY25. Revenue increases 11.5% YoY to Rs 257.7 crore, driven by a 40% YoY rise in CDMO business during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past two quarters.

  • 3M India falls sharply as its net profit declines 8.4% YoY to Rs 133.8 crore in Q2FY25 due to higher raw materials, inventory, finance, and employee benefits expenses. However, revenue grows by 6.8% YoY to Rs 1,129 crore, led by improvements in the safety & industrial, health care, and consumer segments. It appears in a screener of stocks with PE higher than industry PE.

  • NTPC Green Energy, the green energy subsidiary of NTPC, sets the price band for its initial public offering (IPO) at Rs 102-108. The issue, valued at Rs 10,000 crore, consists solely of a fresh issue of equity shares and is set to open on November 19.

  • Alkem Laboratories is rising as its net profit grows 11% YoY to Rs 688.6 crore in Q2FY25, driven by inventory destocking. Revenue decreases marginally YoY to Rs 3,414.7 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

  • Zinka Logistics Solutions' Rs 1,114.7 crore IPO receives bids for 0.2X the available 2.3 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 0.4X the available 41.9 lakh shares.

  • Geojit BNP Paribas upgrades KEC International to 'Buy' from 'Accumulate' with a higher target price of Rs 1,192 per share. This indicates a potential upside of 22.2%. The brokerage expects the company's revenue and margins to improve due to higher order wins in the transmission & distribution (T&D) segment, completion of legacy projects, and the government's focus on thermal and renewable energy projects. It expects the firm's revenue to grow at a CAGR of 15.1% over FY25-27.

  • According to a report by SBI Research, the Reserve Bank of India (RBI) is unlikely to cut interest rates in February due to ongoing inflationary pressures. The report forecasts a gradual easing of inflation beginning in January, with an average of 4.8-4.9% for FY25, still above the RBI's target of 4.5%.

  • Prism Johnson is falling as it reports a net loss of Rs 89.8 crore in Q2FY25 compared to a net profit of Rs 182.7 crore in Q2FY24, due to higher employee benefits, manufacturing, and finance costs. Revenue declines 7.9% YoY to Rs 1,699.2 crore, impacted by the cement, H&R Johnson, and insurance segments. It shows up in a screener of stocks with an increasing trend in non-core income.

  • Cello World is falling as its net profit misses Forecaster estimates by 6% despite growing 2.1% YoY to Rs 81.6 crore in Q2FY25. Revenue increases marginally YoY to Rs 490.1 crore, driven by headwinds in export demand, especially for writing instruments, during the quarter. The company appears in a screener of stocks with declining ROE over the past two years.

  • Varun Beverages' board of directors approves the acquisition of SBC Tanzania, SBC Beverages Ghana, Tanzania, and Ghana-based Pepsico licensed packaging and distribution companies for $169.6 million (approx. Rs 1,431.1 crore). The board also approves the acquisition of the remaining 39.9% stake in Lunarmech Technologies for Rs 200 crore.

  • The Society of Indian Automobile Manufacturers (SIAM) reports a 14.2% YoY increase in two-wheeler sales to 21.6 lakh units in October. Passenger vehicle sales rise 0.9% YoY to 3.9 lakh units.

  • Sula Vineyards is falling as its net profit declines 37.3% YoY to Rs 14.5 crore in Q2FY25. Revenue decreases 1.1% YoY to Rs 141.2 crore, driven by a slowdown in consumer demand, particularly in urban areas, during the quarter. The company appears in a screener of stocks with declining revenue every quarter for the past two quarters.

  • PNC Infratech plunges to its 52-week low of Rs 295.6 per share as its net profit declines by 43.6% YoY to Rs 83.5 crore in Q2FY25 due to higher employee benefits and finance costs. Revenue decreases by 24.2% YoY to Rs 1,463.8 crore, impacted by the road and water segments. It shows up in a screener of stocks with prices below short, medium, and long-term moving averages.

  • PNB Housing Finance falls as 2.6 crore shares (a 10% stake), worth approximately Rs 2,455 crore, reportedly change hands in a block deal at an average price of Rs 939.3 per share. Carlyle Group's arm, Quality Investment Holdings, is the likely seller in the transaction.

  • According to NSDL data, four IPOs have raised around Rs 18,534 crore this month. However, foreign institutional investors (FIIs) contributed only Rs 2,900 crore, making up just 15% of the total bids, a sharp drop from over 100% in September and 50% in October. Analysts believe FIIs are reducing their investments in India and globally due to the recent shift in US leadership.

  • KNR Constructions rises sharply as its net profit surges 3x YoY to Rs 441.5 crore in Q2FY25 on the back of a reduction in sub-contracting and spreading & assortment expenses. Revenue grows by 100.4% YoY to Rs 2,092.1 crore during the quarter. It appears in a screener of undervalued growth stocks.

  • ACME Solar Holdings’ shares debut on the bourses at a 13.2% discount to the issue price of Rs 289. The Rs 2,900 crore IPO received bids for 2.8 times the total shares on offer.

  • Swiggy’s shares debut on the bourses at a 7.7% premium to the issue price of Rs 390. The Rs 11,327.4 crore IPO received bids for 3.6 times the total shares on offer.

  • India’s CPI inflation jumps to a 14-month high of 6.2% in October, breaching RBI’s medium-term target of 2-6%, driven by surging food prices. Meanwhile, industrial production (IIP) rose 3.1% YoY in September, fueled by growth in manufacturing.

  • DCX Systems falls to its 5% lower limit as its net profit declines 73.7% YoY to Rs 5.2 crore in Q2FY25. Revenue is down 36.7% YoY to Rs 195.6 crore amid macroeconomic uncertainties and continued geo-political tensions in parts of the world. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Ashoka Buildcon rises sharply as its net profit surges by 4.6x YoY to Rs 457 crore in Q2FY25, helped by raw materials and finance costs and a deferred tax return of Rs 37.9 crore. Revenue grows by 15.2% YoY to Rs 2,529 crore during the quarter. It features in a screener of stocks with rising net cash flow and cash from operating activities.

  • Bosch is rising as its net profit beats Forecaster estimates by 5.9% despite falling 46.3% YoY to Rs 536.7 crore in Q2FY25 due to unpredictable rainfall and several macroeconomic factors. However, revenue increases 6.4% YoY to Rs 4,394.3 crore, driven by increased sales in passenger cars and off-highway segments during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Kalpataru Projects International, along with its joint ventures and subsidiaries, secures orders worth Rs 2,273 crore. The orders include transmission & distribution (T&D) projects within India and international markets and residential building projects in India.

  • Nifty 50 was trading at 23,831.75 (-51.7, -0.2%) , BSE Sensex was trading at 78,495.53 (-179.7, -0.2%) while the broader Nifty 500 was trading at 22,261.80 (-69.3, -0.3%)

  • Market breadth is in the red. Of the 1,919 stocks traded today, 652 were in the positive territory and 1,229 were negative.

Riding High:

Largecap and midcap gainers today include Zydus Lifesciences Ltd. (963.75, 1.5%), Alkem Laboratories Ltd. (5,571.20, 1.2%) and Havells India Ltd. (1,614.10, 0.7%).

Downers:

Largecap and midcap losers today include Suzlon Energy Ltd. (54.03, -9.0%), Central Bank of India (52.02, -5.3%) and UCO Bank (41.61, -5.2%).

Volume Shockers

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

Top high volume gainers on BSE included KNR Constructions Ltd. (307.60, 8.2%), Suven Pharmaceuticals Ltd. (1,262.30, 4.8%) and Bharti Hexacom Ltd. (1,426, 3.7%).

Top high volume losers on BSE were Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (545, -7.5%), Varroc Engineering Ltd. (500.05, -7.4%) and Century Plyboards (India) Ltd. (749.55, -6.1%).

PNB Housing Finance Ltd. (924.65, -6.0%) was trading at 30.5 times of weekly average. Medplus Health Services Ltd. (683.60, 1.2%) and Balkrishna Industries Ltd. (2,652.70, -3.3%) were trading with volumes 6.8 and 6.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

24 stocks hit their 52 week lows.

Stocks making new 52 weeks lows included - Asian Paints Ltd. (2,470.50, -0.2%) and Birla Corporation Ltd. (1,084.50, -1.7%).

6 stocks climbed above their 200 day SMA including KNR Constructions Ltd. (307.60, 8.2%) and Medplus Health Services Ltd. (683.60, 1.2%). 62 stocks slipped below their 200 SMA including Suzlon Energy Ltd. (54.03, -9.0%) and HBL Power Systems Ltd. (518.60, -6.9%).

 
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