Trendlyne Marketwatch
Trendlyne Marketwatch
02 Jan 2025
Market closes higher, PNB's Q3FY25 domestic business grows 14.3% YoY to Rs 25.4 lakh crore
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,188.65 (445.8, 1.9%) , BSE Sensex closed at 79,943.71 (1,436.3, 1.8%) while the broader Nifty 500 closed at 22,819.75 (338.0, 1.5%). Market breadth is in the green. Of the 2,415 stocks traded today, 1,486 were in the positive territory and 894 were negative.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 24,188.7 points. The Indian volatility index, Nifty VIX, fell 5.3% and closed at 13.7 points. Eicher Motors hit a new all-time high of Rs 5,234.7 as its total sales grew 25% YoY to 79,466 units in December 2024.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Bank and Nifty Consumer Durables closed higher. According to Trendlyne’s sector dashboard, Diversified emerged as the best-performing sector of the day, with a rise of 4.3%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session. Apple plans to offer discounts on its latest iPhone models in China, a rare move highlighting rising competition from local rivals in the world’s largest smartphone market.

  • Money flow index (MFI) indicates that stocks like Lemon Tree Hotels, Coromandel International, Laurus Labs, and Lupin are in the overbought zone.

  • Punjab National Bank rises as its Q3FY25 domestic business reaches Rs 25.4 lakh crore, up 14.3% YoY. Domestic deposits grow 14.4% to Rs 14.8 lakh crore, while global deposits reach Rs 15.3 lakh crore, up 15.6% YoY.

  • TVS Motor’s total sales grow by 7% YoY to 3.2 lakh units in December. Two-wheeler sales increase 8% YoY, while three-wheelers are down 18.2% YoY. The company’s sales rise 11% YoY to 11.8 lakh units in Q3FY25.

  • Sandur Manganese & Iron Ores is rising as it secures approval from the Central Empowered Committee (CEC) of the Supreme Court of India to increase its permissible annual production (PAP) limit of iron ore from 3.8 million tonnes per annum (MTPA) to 4.4 MTPA.

  • Citi reiterates its 'Buy' rating on Bajaj Finance with a target price of Rs 8,150. The brokerage notes the positive movement in the broader finance and NBFC sector. It anticipates stable loan growth, driven by a 3-5 basis point (bps) positive bias in net interest margins (NIM).

  • HDFC Life Insurance receives a Rs 270.6 crore GST demand from the Assistant Commissioner of State Tax related to FY20-21, including both tax and interest components.

  • Indo Farm Equipment's Rs 260.2 crore IPO receives bids for 147.7X the available 84.7 lakh shares on offer on the last day of bidding. The retail investor quota gets bids for 82.7X the available 42.4 lakh shares.

  • Lloyds Metals & Energy rises to its all-time high of Rs 1,349.5 as its iron ore production rises 5% YoY to 8.6 million tonnes for 9MFY25. Direct Reduced Iron (DRI) production surges 22% YoY to 2.4 lakh tonnes.

  • Crude oil futures climb after Chinese President Xi Jinping expresses optimism for improved economic progress in 2025. China's outlook, being one of the largest crude oil consumers, has boosted prices. March Brent oil futures rise 0.3% to $74.9, while February West Texas Intermediate (WTI) crude oil futures increase 0.3% to $71.9.

  • Easy Trip Planners falls sharply as Nishant Pitti resigns as the Chief Executive Officer (CEO) of the company. The board appoints Rikant Pittie as his successor, effective January 1.

  • Vishnu Prakash R Punglia is rising as it receives a letter of intent (LoI) worth Rs 3,134 crore from the Department of Information Technology and Communication, Government of Rajasthan. The project involves elevating the academic blocks of Fintech Digital Institute, Jodhpur.

  • Eicher Motors rises to a new all-time high of Rs 5,234.7 as its total sales grow by 25% YoY to 79,466 units in December. Domestic vehicle sales increase 19% YoY, while exports are up 90% YoY.

  • India’s manufacturing PMI declines marginally to a year-low of 56.4 in December, compared to 56.5 in November, driven by softer demand in the sector despite easing cost pressures and strong job growth.

  • Waaree Energies secures a 150 MWp solar module supply order from a major renewable energy firm. The module supply is scheduled to commence in FY25-26.

  • Ashok Leyland rises sharply as its total sales rise 5% YoY to 16,957 units in December 2024. Its medium and heavy commercial vehicles' sales increase 7.9% YoY, while light commercial vehicles' sales grow marginally by 0.7% YoY.

  • Mahindra & Mahindra is rising as its wholesales grow by 16% YoY to 69,768 units in December. Passenger vehicle sales increase 18% YoY, while exports are up 70% YoY.

  • Jefferies upgrades Jubilant Foodworks to a 'Buy' rating and revises its target price to Rs 1,000. The brokerage maintains a positive outlook, highlighting improvements in same-store sales growth (SSSG) and strategic self-help measures. It notes the company's margins bottomed out in early CY24 and expects further improvement. The management's focus on growth over margins supports a strong long-term strategy.

  • Va Tech Wabag secures a Rs 145 crore order from Chennai Petroleum Corp (CPCL) to design, install, and commission desalination water pipelines between CPCL’s Manali Refinery and Kattupalli plant. The project is scheduled for completion in 12 months.

  • South Indian Bank is rising as its deposits grow by 6.3% YoY to around Rs 1.1 lakh crore in Q3FY25. The bank's advances also increase 11.9%, while its CASA ratio declines by 64 bps YoY.

  • RailTel Corporation of India is rising as it receives a work order worth Rs 78.4 crore from Bharat Coking Coal to implement an integrated IT-based security infrastructure and related services.

  • According to data from the National Payments Corporation of India (NPCI), digital transactions maintain their growth in December 2024, as UPI (unified payments interface) transactions rise 8% MoM to reach a record 1,673 crore. The value of transactions also increases by 8%, reaching Rs 23.3 lakh crore, up from Rs 21.6 lakh crore in November.

  • Ambuja Cements is rising as it receives a ‘no objection’ letter from the National Stock Exchange (NSE) and BSE for its merger with Adani Cementation.

  • Maruti Suzuki is rising as its wholesales grow by 29.6% YoY to 1.8 lakh units in December. Passenger vehicle sales increase 24.2% YoY, while exports are up 39.2% YoY.

  • Tata Motors' total sales grow marginally YoY to 2.4 lakh vehicles in Q3FY25. Passenger vehicle sales increase 1% YoY, while commercial vehicles sales decline by 1% YoY.

  • NMDC's total sales decline 6.7% YoY to 3.9 million tonnes (MT) in December. However, its production grows by 5.1% YoY to 4.7 MT.

  • Nifty 50 was trading at 23,788.85 (46.0, 0.2%) , BSE Sensex was trading at 78,657.52 (150.1, 0.2%) while the broader Nifty 500 was trading at 22,511.50 (29.7, 0.1%)

  • Market breadth is overwhelmingly positive. Of the 1,959 stocks traded today, 1,315 were gainers and 611 were losers.

Riding High:

Largecap and midcap gainers today include Eicher Motors Ltd. (5,308.10, 8.7%), Bajaj Finserv Ltd. (1,700.65, 7.9%) and Cholamandalam Investment & Finance Company Ltd. (1,271.50, 7.4%).

Downers:

Largecap and midcap losers today include Petronet LNG Ltd. (327.75, -5.7%), Suzlon Energy Ltd. (62.92, -3.7%) and Adani Total Gas Ltd. (734.45, -2.1%).

Volume Shockers

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

Top high volume gainers on BSE included Eicher Motors Ltd. (5,308.10, 8.7%), Bajaj Finserv Ltd. (1,700.65, 7.9%) and Cholamandalam Financial Holdings Ltd. (1,504.80, 7.5%).

Top high volume losers on BSE were Petronet LNG Ltd. (327.75, -5.7%), FDC Ltd. (508, -0.6%) and Tata Elxsi Ltd. (6,705.25, -0.6%).

Varroc Engineering Ltd. (633.50, 6.1%) was trading at 22.7 times of weekly average. CreditAccess Grameen Ltd. (954.65, 7.2%) and Zensar Technologies Ltd. (793.10, 6.1%) were trading with volumes 16.2 and 15.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Coromandel International Ltd. (1,952.65, 1.2%), Eicher Motors Ltd. (5,308.10, 8.7%) and Firstsource Solutions Ltd. (394.50, 2.8%).

26 stocks climbed above their 200 day SMA including Bajaj Finserv Ltd. (1,700.65, 7.9%) and Cholamandalam Financial Holdings Ltd. (1,504.80, 7.5%). 5 stocks slipped below their 200 SMA including Petronet LNG Ltd. (327.75, -5.7%) and Crompton Greaves Consumer Electricals Ltd. (372.05, -0.9%).

 
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