Trendlyne Marketwatch
Trendlyne Marketwatch
08 Jan 2025
Market closes lower, TARIL's board approves a 1:1 bonus issue as its Q3 net profit surges 3.5X
By Trendlyne Analysis

 

Nifty 50 closed at 23,675.20 (-32.7, -0.1%), BSE Sensex closed at 78,148.49 (-50.6, -0.1%) while the broader Nifty 500 closed at 22,216.75 (-124.9, -0.6%). Market breadth is sharply down. Of the 2,351 stocks traded today, 715 were on the uptrend, and 1,603 went down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 23,688.9 points. The Indian volatility index, Nifty VIX, declined 1.5% and closed at 14.5 points. Transformers & Rectifiers’ Q3FY25 revenue grew by 51.4% YoY to Rs 559.4 crore, while net profit surges 3.5X YoY to Rs 55.5 crore. The company's board of directors approved a 1:1 bonus share issue and a Rs 750 crore qualified institutional placement (QIP).

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Oil & Gas and BSE Oil & Gas were among the top index gainers today. According to Trendlyne’s Sector dashboard, Oil & Gas emerged as the best-performing sector of the day, with a rise of 1.9%.

Asian indices closed lower, 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 red. Barclays notes that market concentration remains a key risk in 2025. It pointed out that by October, the percentage of S&P 500 companies outperforming the index had reached a year-high, but dropped sharply in the last two months of 2024, due to significant decline in the Materials and Healthcare sectors.

  • Money flow index (MFI) indicates that stocks like Aeges Logistics, Saregama India, PTC Industries, and Lupin are in the overbought zone.

  • Transformers & Rectifiers rises sharply as its Q3FY25 revenue grows by 51.4% YoY to Rs 559.4 crore, while net profit surges 3.5X YoY to Rs 55.5 crore. The company's board of directors approves a 1:1 bonus share issue and a Rs 750 crore qualified institutional placement (QIP).

  • Vijay Kedia buys a 0.9% stake in Elecon Engineering in Q3FY25. He now holds a 2.2% stake in the company

  • Suven Life Sciences rises sharply as it begins the Phase 1 trial for SUVN-I6107, its fifth drug targeting central nervous system disorders. The US-based study evaluates the drug's safety, tolerability, and pharmacokinetics in healthy participants. The two-part trial includes single- and multiple-dose studies and exploratory tests on brain activity and cerebrospinal fluid.

  • The State Bank of India (SBI) revises its FY25 GDP growth forecast for India to 6.3%, slightly below the National Statistical Office's (NSO) estimate of 6.4%. SBI highlights a "downward bias" in its outlook, citing factors such as slower lending, weak manufacturing growth, and a large base effect impacting economic expansion.

  • United Breweries falls sharply as it reportedly suspends beer supply to Telangana after the government fails to revise the basic price of its beers since FY20.

  • Voltamp Transformers receives a Rs 41 crore purchase order from Adani Power and Mahan Energen to supply various ratings of distribution transformers, including design, manufacture, and testing.

  • Route Mobile partners with PT MRT Jakarta to introduce a WhatsApp-based metro ticketing solution through vending machines. The solution simplifies the process by providing ticket and travel information to commuters via WhatsApp.

  • One97 Communications (Paytm) falls over 6% after UBS highlights NPCI data showing no UPI market share gain in December, despite receiving clearance to onboard customers in October. Paytm's UPI share nearly halved from 10% at the start of 2024 to 5.5% by year-end, with no change in its share from October to November.

  • EMS is rising as it bags an order worth Rs 416.5 crore from Indore Municipal Corp to set up three sewage treatment plants in the city. The company will design and build three sewage treatment plants with a capacity of 120, 40, and 35 megalitres per day (MLD) and will operate and maintain the plants for the next 15 years.

  • Signature Global's Q3FY25 sales grow by 120% YoY to Rs 277 crore, with a 40% YoY increase in collections to Rs 108 crore. The company's pre-sales surge 178% YoY to Rs 867 crore for 9MFY25.

  • Mangalore Refinery And Petrochemicals is rising as it reportedly signs a memorandum of understanding (MoU) with Indian Strategic Petroleum Reserves (ISPRL). The agreement allows the company to use ISPRL's underground caverns for crude oil storage, strengthening its storage capacity and ensuring supply security.

  • Jayakumar Krishnaswamy, MD of Nuvoco Vistas Corp, highlights that the Vadraj Cement acquisition deal was executed at around Rs 2,800-3,000 crore, with an enterprise value of around 60-65$ per tonne. He adds that the company plans phased investments in Vadraj Cement over the next 15 months.

  • Geojit PNB Paribas initiates coverage on Karur Vysya Bank with a 'Sell' call and a target price of 201 per share. This indicates a potential downside of 5.7%. The brokerage believes that the bank's loan growth rate and returns have peaked with high valuations. It expects the lender's net interest income (NII) to grow at a CAGR of 8.6% over FY25-27.

  • Ola Electric Mobility falls as SEBI issues an administrative warning for disclosure violations. The regulator highlighted that the company announced its expansion plans on X (formerly Twitter) before formally disclosing the information to stock exchanges.

  • Ashiana Housing rises sharply as its value of area sold grows 161% YoY to Rs 454.3 crore in Q3FY25, driven by a 101% YoY increase in the area book. The company books 451 units, a 79% YoY rise during the quarter.

  • Nuvama Institutional Equities warns that the earnings downgrade trend in India, which began in Q1FY25, could persist in Q3, potentially disappointing investors. The brokerage expects Nifty EPS to grow 2% (down from 4% in H1FY25), raising risks of downgrades to H2FY25 growth estimates. Elevated valuations and tightening liquidity also call for caution.

  • Tata Elxsi partners with CSIR-National Aerospace Laboratories (CSIR-NAL) to drive air mobility innovations, focusing on unmanned aerial vehicles (UAVs), urban air mobility (UAM), and electric vertical take-off and landing (eVTOL) aircraft.

  • Tata Steel's India steel production grows 6.2% YoY to 5.7 million tonnes (MT) in Q3FY25. The company's delivery volumes improve by 8.4% YoY to 5.3 MT.

  • Rail Vikas Nigam signs a memorandum of understanding (MoU) with a Dubai-based infrastructure company, GBH International Contracting, to explore business opportunities within the civil infrastructure sector across the Gulf Cooperation Council (GCC) countries.

  • Jindal Worldwide touches a new 52-week high of Rs 470.9 as its board recommends a bonus issue of shares in the ratio of 4:1. The board also approves an increase in the authorized share capital and a subsequent alteration to the capital clause of the company’s Memorandum of Association.

  • Exicom Tele-Services surges to its 5% upper circuit as it signs a memorandum of understanding (MoU) with Mufin Green Infra to develop the EV charging infrastructure in India. As per the MoU, Exicom will manufacture and supply EV charging hardware for stations.

  • Tata Technologies is rising as it partners with Telechips to develop solutions for next-generation software-defined vehicles (SDVs). The partnership will focus on creating advanced systems for driver assistance, car cockpits, and gateway controllers, helping manufacturers improve integration and launch products faster.

  • Sobha is falling as its Q3FY25 sales value declines by 28.8% YoY to Rs 1,388.6 crore. However, the average price realization improves by 16.5% YoY to Rs 13,663 per square foot.

  • KEC International secures new orders worth Rs 1,136 crore across various businesses. The transmission & distribution (T&D) segment wins a 765 kV transmission line order from Power Grid Corp of India. The transportation segment receives an order for the Train Collision Avoidance System (TCAS), and the oil & gas pipelines segment secures a pipeline design and construction order.

  • Nifty 50 was trading at 23,707.90 (91.9, 0.4%) , BSE Sensex was trading at 78,319.45 (120.3, 0.2%) while the broader Nifty 500 was trading at 22,341.65 (116.3, 0.5%).

Riding High:

Largecap and midcap gainers today include Phoenix Mills Ltd. (1,649.75, 4.9%), Oil India Ltd. (490.65, 3.4%) and Oil And Natural Gas Corporation Ltd. (271.50, 3.0%).

Downers:

Largecap and midcap losers today include Dixon Technologies (India) Ltd. (16,899.45, -8.4%), Indraprastha Gas Ltd. (408.40, -5.2%) and Lupin Ltd. (2,256.60, -4.3%).

Volume Shockers

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

Top high volume gainers on BSE included CreditAccess Grameen Ltd. (999, 9.7%), MMTC Ltd. (75.86, 6.9%) and Anant Raj Ltd. (934, 5.6%).

Top high volume losers on BSE were Dixon Technologies (India) Ltd. (16,899.45, -8.4%), KEC International Ltd. (1,050, -6.8%) and Sobha Ltd. (1,426.50, -5.7%).

Mangalore Refinery And Petrochemicals Ltd. (147.10, 1.8%) was trading at 10.7 times of weekly average. Capri Global Capital Ltd. (188.50, 1.5%) and United Breweries Ltd. (1,990.50, -4.1%) were trading with volumes 8.6 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks took off, crossing 52 week highs, while 14 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (947.95, -1.7%), Max Healthcare Institute Ltd. (1,199.15, 0.1%) and Krishna Institute of Medical Sciences Ltd. (653, 0.6%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,551.65, -1.7%) and Container Corporation of India Ltd. (755, 0.1%).

7 stocks climbed above their 200 day SMA including Phoenix Mills Ltd. (1,649.75, 4.9%) and Signatureglobal (India) Ltd. (1,364.30, 0.9%). 24 stocks slipped below their 200 SMA including Intellect Design Arena Ltd. (925.40, -5.5%) and United Breweries Ltd. (1,990.50, -4.1%).

 
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