Trendlyne Marketwatch
Trendlyne Marketwatch
03 Jan 2025
Market closes lower, KEC Intl secures Rs 1,097 crore orders in the UAE and Americas
By Trendlyne Analysis

 

Nifty 50 closed at 24,004.75 (-183.9, -0.8%), BSE Sensex closed at 79,223.11 (-720.6, -0.9%) while the broader Nifty 500 closed at 22,708.15 (-111.6, -0.5%). Market breadth is in the green. Of the 2,412 stocks traded today, 1,247 were in the positive territory and 1,133 were negative.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,004.8 points. The Indian volatility index, Nifty VIX, declined 1.1% and closed at 13.6 points. Yes Bank closed 1.9% higher as its deposits grew by 14.6% YoY to Rs 2.8 lakh crore, and advances rose 12.6% YoY to Rs 2.5 lakh crore in Q3FY25. The bank's CASA deposits grew by 27.6% YoY during the quarter.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Media and BSE Oil & Gas were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 8.2%.

Asian indices closed lower, while European indices are trading in the red. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the red. The American Petroleum Institute reported a 1.4 million barrel decrease in US crude inventories last week, marking a six-week decline in stockpiles.

  • Relative strength index (RSI) indicates that stocks like Lloyds Metals & Energy, United Spirits, Coromandel International, and Lupin are in the overbought zone.

  • KEC International rises as it secures orders worth Rs 1,097 crore in its Transmission and Distribution (T&D) business. Orders include a 400 kV transmission line project in the UAE and tower supplies across the Americas.

  • Aarti Pharmalabs is falling as the Gujarat Pollution Control Board (GPCB) directs the company to stop operations at its Vapi plant due to violations of the Water (Prevention and Control of Pollution) Act, 1974.

  • Sachin Agarwal, CMD of PTC Industries, highlights the company's newly commissioned 1,500 TPA vacuum arc remelting (VAR) furnace for producing titanium alloy ingots. The company now has the largest titanium ingot producing capacity in India. He guides margins to reach 30% with revenues at Rs 750 crore in FY26 and Rs 1,700 crore in FY27.

  • NHPC receives Rs 250 crore payment under its Mega Insurance Policy, related to business interruption loss from the Teesta-V power station (510 MW) flash flood on October 4, 2023.

  • Vedanta is rising as its parent company, Vedanta Resources, reportedly plans to raise up to $1 billion to restructure and prepay high-yield debt.

  • Jai Corp falls sharply as its subsidiary, Urban Infrastructure Holding (UIHPL), sells a 74% stake in Navi Mumbai IIA to Reliance Industries for Rs 1,628 crore, valuing the company at Rs 2,200 crore. According to reports, it held a 5,286-acre industrial land parcel with significant appreciation potential.

  • According to data from the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales reached 4.2 million units in FY24, marking an 8.4% YoY growth driven by improved supplies and sustained consumer demand. Two-wheeler sales also saw a recovery, growing by over 13% to 17.9 million units.

  • KPI Green Energy's subsidiary, Sun Drops Energia, receives letters of intent (LoI) for solar power projects totaling 32.2 MW under its captive power producer business. The project is scheduled for completion in FY25-26.

  • Afcons Infrastructure rises to its all-time high of Rs 570 as it receives a letter of intent (LoI) worth Rs 1,084.5 crore from the Defence Research and Development Organisation (DRDO) to upgrade facilities and equipment at the ship lift facility in Visakhapatnam.

  • Western Carriers rises sharply as it secures a Rs 139 crore contract from Vedanta for material handling at the JSG Plant. The four year agreement covers handling of import, finished goods, and export materials.

  • ONGC rises over 4% as Jefferies maintains its 'Buy' rating with a revised target price of Rs 385. The brokerage cites a surge in oil prices amid hopes of an improvement in China's economic growth prospects and a likely ramp-up in KG Basin production in Q4FY25-Q1FY26 to be key triggers for the company's growth. It also expects the company's consolidated earnings per share to benefit from an improved earnings outlook for HPCL.

  • V2 Retail rises to a new all-time high of Rs 1,728.9 as its standalone revenue grows 58% YoY to Rs 591 crore in Q3FY25. The company adds 21 new stores during the quarter, bringing its total store count to 160.

  • Wockhardt rises to a new 5-year high of Rs 1,583 as it receives approval from the Central Drugs Standard Control Organization (CDSCO) for its new oral antibiotic, Miqnaf (Nafithromycin), to treat community-acquired bacterial pneumonia (CABP) in adults. The drug has a market size of approximately $23.5 billion.

  • RITES rises as it secures a Rs 69.8 crore contract from Steel Authority of India's (SAIL) Bhilai Steel Plant to repair 43 WDS6 locomotives over three years. Additionally, the company's arm, REMC, signs an memorandum of understanding (MoU) with Indian Railway Finance Corp (IRFC) to explore financing options for power projects supplying to Indian railways.

  • Zee Entertainment Enterprises rises over 3% as the Securities and Exchange Board of India (SEBI) rejects a settlement application filed by the company and its CEO, Punit Goenka, in connection with alleged violations of the listing obligations and disclosure requirements (LODR) regulations.

  • Adani Ports and Special Economic Zone handles 38.4 million metric tonnes (MMT) of cargo in December, led by a 22% YoY growth in the container segment. January-December cargo volumes grow 7% YoY to 332.4 MMT, driven by containers (19% YoY) and liquids & gas (8% YoY).

  • Yes Bank is rising as its deposits grow by 14.6% YoY to Rs 2.8 lakh crore, and advances increase 12.6% YoY to Rs 2.5 lakh crore in Q3FY25. The bank's CASA deposits grow by 27.6% YoY during the quarter.

  • Varun Beverages invests Rs 413 crore in its South African subsidiary, The Beverage Company (Bevco), raising its stake by 2.4%. The investment aims to reduce debt and strengthen Bevco's balance sheet for growth.

  • The Indian government forms a working group, led by NITI Aayog member Ramesh Chand, to revise the base year of the current Wholesale Price Index (WPI) from 2011-12 to 2022-23. The group will recommend a new commodity basket for the WPI and Producer Price Index, review the price collection system, and enhance its reliability. The final report is expected within 18 months.

  • AXISCADES Technologies' Chief Executive Officer & Managing Director, Arun Krishnamurthi, tenders his resignation, effective January 2, for personal reasons.

  • Avenue Supermarts surges as its standalone revenue grows 17.5% YoY to Rs 15,565.2 crore in Q3FY25. The company adds 10 new stores during the quarter, bringing its total store count to 387.

  • MOIL is rising as its Q3 sales increase 13% YoY to 3.9 lakh tonnes. The company's production rises to 4.6 lakh tonnes.

  • Hero MotoCorp's monthly wholesales decline 17.5% YoY to 3.2 lakh units in December due to lower motorcycle sales and domestic business. However, its exports grow by 90.9% YoY to 30,754 units during the month.

  • Nifty 50 was trading at 24,175.55 (-13.1, -0.1%) , BSE Sensex was trading at 80,072.99 (129.3, 0.2%) while the broader Nifty 500 was trading at 22,864.20 (44.5, 0.2%)

  • Market breadth is overwhelmingly positive. Of the 1,954 stocks traded today, 1,499 were gainers and 409 were losers.

Riding High:

Largecap and midcap gainers today include Avenue Supermarts Ltd. (4,025.20, 11.5%), Oil And Natural Gas Corporation Ltd. (258.89, 5.2%) and UPL Ltd. (529.55, 4.0%).

Downers:

Largecap and midcap losers today include Zomato Ltd. (272.85, -4.1%), Wipro Ltd. (294.45, -3.1%) and Gujarat Fluorochemicals Ltd. (4,106, -3%).

Volume Shockers

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

Top high volume gainers on BSE included Avenue Supermarts Ltd. (4,025.20, 11.5%), Lloyds Metals & Energy Ltd. (1,441.25, 7.5%) and Just Dial Ltd. (1,064.20, 5.4%).

Top high volume losers on BSE were Asahi India Glass Ltd. (730.25, -3.0%), Metropolis Healthcare Ltd. (1,997.80, -2.5%) and Deepak Nitrite Ltd. (2,452.70, -2.5%).

Quess Corp Ltd. (689.35, 3.2%) was trading at 19.1 times of weekly average. Shyam Metalics and Energy Ltd. (776.85, 4.6%) and Endurance Technologies Ltd. (2,200.95, 0.7%) were trading with volumes 14.0 and 12.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

18 stocks hit their 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Coromandel International Ltd. (1,956.65, 0.0%), Eicher Motors Ltd. (5,310.75, 0.1%) and Firstsource Solutions Ltd. (401.25, 1.7%).

Stock making new 52 weeks lows included - Astral Ltd. (1,621.60, -1.6%).

23 stocks climbed above their 200 day SMA including UPL Ltd. (529.55, 4.0%) and REC Ltd. (538.05, 3.8%). 10 stocks slipped below their 200 SMA including Ingersoll-Rand (India) Ltd. (4,130, -2.8%) and Balkrishna Industries Ltd. (2,818.70, -2.5%).

 
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