Trendlyne Marketwatch
Trendlyne Marketwatch
16 Dec 2024
Market closes lower, NBCC bags projects worth Rs 489.6 crore in Chhattisgarh and Jaipur
By Trendlyne Analysis

 

Nifty 50 closed at 24,668.25 (-100.1, -0.4%), BSE Sensex closed at 81,748.57 (-384.6, -0.5%) while the broader Nifty 500 closed at 23,352.45 (-6.5, 0.0%). Market breadth is in the green. Of the 2,323 stocks traded today, 1,261 were gainers and 1,042 were losers.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,647.8 points. The Indian volatility index, Nifty VIX, rose 7.6% and closed at 14 points. India’s WPI inflation declined to 1.9% in November from a four-month high of 2.4% in October, driven by a decline in the prices of food items.

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, Realty emerged as the best-performing sector of the day, with a rise of 2.9%.

Asian indices closed in the red and European indices are trading lower. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the red following disappointing Chinese economic data and ahead of the upcoming Federal Reserve policy meeting. Last week, the International Energy Agency highlighted a decline in China's oil demand, fueling concerns about oversupply in the year ahead.

  • Relative strength index (RSI) indicates that stocks like Swan Energy, Persistent Systems, Kaynes Technology, and Chalet Hotels are in the overbought zone.

  • Vakrangee surges as it schedules a meeting on December 21 to consider fundraising through a rights issue, preferential issue, QIP, warrants, or other permissible modes.

  • RBL Bank receives approval from the Reserve Bank of India (RBI) to reappoint R Subramaniakumar as its Managing Director (MD) and Chief Executive Officer (CEO) for the next three years, effective June 23, 2025.

  • NBCC (India) is rising as it receives various work orders worth Rs 489.6 crore. This includes a Rs 459.6 crore order from the Chhattisgarh Department of Tribal and Scheduled Caste to build Eklavya Model Residential Schools and a Rs 30 crore order from PDUNIPPD, New Delhi, to construct a building for the Composite Regional Centre (CRC) in Jamdoli, Jaipur.

  • India's private sector growth reaches a four-month high in December, driven by strong demand across services, manufacturing, and record job creation. The composite PMI rose to 60.7, indicating robust expansion. Easing inflation and a positive outlook suggest continued growth in 2025. Service providers led sales growth during the month, while improving international demand also boosted sales, with goods seeing a faster increase than services.

  • Jindal Worldwide rises sharply as its board of directors schedules to meet on January 7, 2025, to consider and approve the issue of bonus shares to its shareholders.

  • JK Paper rises sharply as its board approves the merger of Horizon Packs, Securipax Packaging, and JKPL Utility Packaging into the parent company. The board also approves the acquisition of a 60% stake in Radhesham Wellpack, with the balance of 40% to be acquired within two years.

  • Elcid Investments is rising as it submits an application to the Reserve Bank of India (RBI) to register its Non-Banking Financial Company (NBFC) as a Type-I NBFC-ND.

  • Arul Selvan, CFO of Cholamandalam Investment & Finance Co, projects an asset under management (AUM) growth of around 25-28% in FY25. He expects the commercial vehicle segment may not witness significant growth in Q3 but notes the growing interest in financing heavy commercial vehicles among small road transport businesses.

  • Caplin Point Laboratories receives approval from the US FDA for its abbreviated new drug application (ANDA) for Difluprednate Ophthalmic Emulsion (Eye drops), used to treat inflammation and pain post-ocular surgery and endogenous anterior uveitis. The product is equivalent to Sandoz’s Durezol, with an estimated market size of approx. $21 million in the year ending October 2024, according to IQVIA.

  • Waaree Energies receives orders from a domestic client for two projects totalling 398 MW. The order involves the supply of solar modules, set to commence in FY25-26.

  • JSW Energy is rising as it secures multiple renewable energy projects in the Commercial and Industrial (C&I) power market. The company's total power generation capacity reaches 20 GW with these projects. Its locked-in renewable energy C&I capacity now totals 3.1 GW, which includes 2,654 MW of JSW Group's captive capacity and 445 MW of third-party C&I capacity.

  • India’s WPI inflation declines to 1.9% in November from a four-month high of 2.4% in October, driven by a decline in the prices of food items. Primary articles inflation declines to 5.5% during the month, down from 8.1% in October.

  • Lupin acquires trademarks for three anti-diabetes brands – Gibtulio, Gibtulio Met, and Ajaduo, from Boehringer Ingelheim International GmbH. This acquisition will help the company strengthen its diabetes portfolio in India.

  • Samvardhana Motherson International’s subsidiary, Samvardhana Motherson Automotive Systems, announces the acquisition of Brazil-based auto component maker Baldi Industria in a cash deal worth $7.8 million (approx. Rs 66.2 crore). The transaction is set to close by Q1FY26.

  • Rites is rising as it secures a contract worth Rs 297.7 crore from the Ministry of External Affairs, Government of India. The contract involves providing project implementation services to construct an Integrated Check Post (ICP).

  • Paper companies like JK Paper and West Coast Paper are rising, following reports of an increase in paper prices by 1-4% in January and 8-10% in February and March. Additionally, Q3 and Q4 are strong quarters for these companies, driven by increased paper demand due to syllabus and curriculum changes in educational institutions and boards.

  • Wockhardt surges to its new 52-week high of Rs 1,536.6 as it announces the successful use of its drug Zaynich (WCK 5222) in a US cancer patient. The drug is nearing Phase III study completion for global approval.

  • Happy Forgings secures an order worth Rs 140 crore to supply crankshafts for the passenger vehicle industry. The company will commence delivery of the components from FY26, following the completion of testing and approval processes.

  • Premier Explosives rises to its 10% upper circuit as it signs a memorandum of understanding (MoU) with Global Munition, a subsidiary of NIBE Ordnance and Maritime (a NIBE Group Company), to set up a 51:49 joint venture (JV) to manufacture defence and aerospace products.

  • Jefferies maintains its 'Buy' rating on PI Industries, with a lower target price of Rs 4,865. The brokerage highlights a lower revenue growth forecast from one of the company's largest Tokyo-based clients, Kumiai Chemicals, for November 2024 to October 2025, citing a 7% YoY decline in pyroxasulfone sales. However, it expects healthy growth in FY26, driven by new product momentum and pyroxasulfone inventory normalisation.

  • HG Infra Engineering is rising as its wholly-owned subsidiary, HG Chennai-Tirupati (II) Highway, secures an order worth Rs 862.1 crore from the National Highways Authority of India (NHAI). The project involves building 4-lane and 6-lane highways in Andhra Pradesh.

  • HBL Power Systems surges to its all-time high of Rs 739.7 per share as it bags an order worth Rs 1,522.4 crore from Chittaranjan Locomotive Works to supply, install, and commission onboard train collision avoidance system (TCAS) equipment in 2,200 locomotives.

  • Afcons Infrastructure is rising as it secures a contract worth Rs 1,006.7 crore from Madhya Pradesh Metro Rail Corp (MPMRCL). The project includes the partial design and construction of an elevated viaduct and 13 elevated metro stations, connecting Bhadbhada Chauraha to Ratnagiri Tiraha as part of the Bhopal Metro Rail Project.

  • Dixon Technologies surges to its all-time high of Rs 18,212 per share after forming a 51:49 joint venture (JV) with vivo India to expand into original equipment manufacturing (OEM) of electronic devices, including smartphones.

  • Nifty 50 was trading at 24,747 (-21.3, -0.1%), BSE Sensex was trading at 82,031.83 (-101.3, -0.1%) while the broader Nifty 500 was trading at 23,393.15 (34.2, 0.2%).

  • Market breadth is surging up. Of the 2,044 stocks traded today, 1,578 were in the positive territory and 423 were negative.

Riding High:

Largecap and midcap gainers today include Oberoi Realty Ltd. (2,253.50, 6.4%), Dixon Technologies (India) Ltd. (18,831.80, 4.9%) and FSN E-Commerce Ventures Ltd. (174.56, 3.8%).

Downers:

Largecap and midcap losers today include Schaeffler India Ltd. (3,487.90, -2.6%), Adani Green Energy Ltd. (1,168.05, -2.5%) and Adani Energy Solutions Ltd. (811.90, -2.5%).

Volume Shockers

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

Top high volume gainers on BSE included Jindal Worldwide Ltd. (427.85, 10.7%), Sun Pharma Advanced Research Company Ltd. (230.71, 8.8%) and Five-Star Business Finance Ltd. (704.85, 8.6%).

Top high volume losers on BSE were Jubilant Pharmova Ltd. (1,080.50, -3.0%) and Timken India Ltd. (3,175.30, -0.8%).

Oberoi Realty Ltd. (2,253.50, 6.4%) was trading at 6.7 times of weekly average. KIOCL Ltd. (392.40, 5.2%) and Prestige Estates Projects Ltd. (1,830.75, 4.3%) were trading with volumes 5.1 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Crisil Ltd. (5,791.95, -0.4%), eClerx Services Ltd. (3,821.50, 0.2%) and HCL Technologies Ltd. (1,954.40, -0.7%).

Stock making new 52 weeks lows included - ZF Commercial Vehicle Control Systems India Ltd. (11,585.15, 0.9%).

15 stocks climbed above their 200 day SMA including Action Construction Equipment Ltd. (1,408.15, 5.1%) and Indigo Paints Ltd. (1,486.40, 3.9%). 9 stocks slipped below their 200 SMA including Supreme Petrochem Ltd. (730, -3.1%) and Titan Company Ltd. (3,438.20, -2.0%).

 
More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended
Five stocks to buy from analysts this week - May 13, 2025
The Baseline | 13 May 2025, 05:09PM
Market closes lower, Hero MotoCorp's Q4 net profit grows 6.4% YoY to Rs 1,080.9 crore
Trendlyne Marketwatch | 13 May 2025, 03:56PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021