Trendlyne Marketwatch
Trendlyne Marketwatch
13 Jan 2025
Market closes lower, GR Infra secures an order worth Rs 1,947 crore from MSRDC
By Trendlyne Analysis

 

Nifty 50 closed at 23,085.95 (-345.6, -1.5%), BSE Sensex closed at 76,384.73 (-994.2, -1.3%) while the broader Nifty 500 closed at 21,243.45 (-555.6, -2.6%). Market breadth is sharply down. Of the 2,446 stocks traded today, 196 were on the uptick, and 2,223 were down.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 23,086 points. The Indian volatility index, Nifty VIX, rose 7.2% and closed at 16 points. The market declined after the US imposed sanctions against producers, insurers, and vessels dealing in Russian crude.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. Nifty Media and Nifty Realty were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Fertilizers emerged as one of the worst-performing sector of the day, with a fall of 6%.

European indices are trading lower, except Russia’s RTSI and MOEX indices, trading 1.6% higher each. Major Asian indices closed in the red. US index futures are trading lower, indicating a cautious start to the trading session in anticipation of the inflation data set to be released on Wednesday.

  • Money flow index (MFI) indicates that stocks like PTC Industries, Lloyds Metals & Energy, SRF, and Vijaya Diagnostic Centre are in the overbought zone.

  • Puravankara's customer collections from the real estate business grow by 6% YoY to Rs 993 crore Q3FY25. The company achieves pre-sales of Rs 1,265 crore, 2% higher than Q3FY24.

  • Afcom Holdings secures a long-term contract with Etihad Airways to operate regular flights for cargo between Chennai and Male.

  • GR Infraprojects emerges as the lowest bidder for a contract worth Rs 1,947 crore from Maharashtra State Road Development Corp (MSRDC) to construct the access-controlled Pune Ring Road from Sonori to Garade. The company will undertake the project on an engineering, procurement, and construction (EPC) basis and expects to complete it in the next three years.

  • Sharekhan selects SBI as its top pick for 2025. The brokerage has given the stock a 'Buy' rating with a target price of Rs 975. It expects advances to grow by 13% YoY, and projects net interest margins (NIMs) to remain slightly lower QoQ. The brokerage also anticipates that SBI's asset quality will remain broadly stable in Q3FY25.

  • Interarch Building Products bags two orders worth Rs 221 crore from Tata Semiconductor Assembly & Testing and Agratas Energy Storage Solutions. The Tata Semiconductor order is for its semiconductor facility in Assam, while the Agratas Energy order is to set up its lithium-ion battery manufacturing unit in Gujarat.

  • Indraprastha Gas falls as its board appoints Sukhmal Kumar Jain as the company's new Chairman, succeeding RK Jain, effective January 14.

  • NBCC (India) signs a memorandum of understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam to develop 588 acres of land in Lucknow for mixed use. Under Phase 1 of the project, NBCC will develop 50 acres of land valued at ~Rs 3,500 crore.

  • Waaree Renewable Technologies falls 20% after Dilip Panjwani tendered his resignation as chief financial officer (CFO), citing personal reasons. Exchanges have put the securities of Waaree Renewable Tech under the long-term ASM (Additional Surveillance Measure) framework to caution investors about high volatility in share prices.

  • Brigade Enterprises signs a memorandum of understanding (MoU) with Technopark to develop a World Trade Centre and a business hotel in Thiruvananthapuram. The company plans to invest ~Rs 1,500 crore in Kerala's IT infrastructure in coming years.

  • Varroc Engineering receives approval from the National Company Law Tribunal (NCLT) to merge its subsidiary, Varroc Polymers with itself.

  • Ola Electric Mobility falls as the Central Consumer Protection Authority (CCPA) seeks additional documents to investigate alleged consumer rights violations, misleading advertisements, and unfair trade practices following a show-cause notice on October 8, 2024.

  • Adani Wilmar falls over 6%, continuing its decline from Friday. Its promoter, Adani Commodities, announced a stake sale via an offer for sale (OFS) route on January 10, 2025, at a floor price of Rs 275. Over the past two days, the edible oil company's stock has dropped by over 17%.

  • ICICI Lombard General Insurance receives an income tax refund of Rs 174.6 crore from the Income Tax (IT) Department for FY13 and FY16-18.

  • Poly Medicure forms a joint venture with AMPIN C&I Power to establish a solar power project in Haryana. The project will serve as a captive power source for Poly Medicure's facility, with AMPIN holding 74% and Poly Medicure 26%.

  • Motilal Oswal maintains its 'Buy' call on Tata Consultancy Services with a target price of Rs 5,000 per share. This indicates a potential upside of 16.4%. The brokerage believes the company's recovery in discretionary client spending and strengthening of the US economy will help in revenue growth. It expects the firm's revenue to grow at a CAGR of 7.1% over FY25-27.

  • HDFC AMC to release its quarterly results on January 14. Motilal Oswal anticipates a revenue growth of 35.7% YoY, with EBITDA expected to rise by 41.1% YoY. The net profit is projected to increase by 23.9% YoY, reaching Rs 606.7 crore. The brokerage expects equity assets under management (AUM) to continue its growth trend, driven by improved fund performance, though it anticipates a sequential decline in yields.

  • JSW Energy's subsidiary, JSW Neo Energy, acquires three special purpose vehicles (SPVs) with a total capacity of 125 MW from Hetero Group at an enterprise value of Rs 630 crore.

  • Standard Glass Lining Technology’s shares debut on the bourses at a 22.9% premium to the issue price of Rs 140. The Rs 410.1 crore IPO received bids for 183.2 times the total shares on offer.

  • Avenue Supermarts falls sharply as its net profit misses Forecaster estimates by 16% despite growing 4.8% YoY to Rs 723.7 crore in Q3FY25. Revenue rises by 17.6% YoY to Rs 15,996.7 crore, helped by new store additions. It appears in a screener of stocks near their 52-week lows.

  • Indian oil companies such as HPCL and BPCL witness a decline of over 2% as Brent crude prices surge above $81 per barrel, reaching their highest level in over four months. This increase comes amid expectations that broader US sanctions will impact Russian crude exports to major buyers like China and India. Since January 8, Brent and WTI have risen by more than 6%, with the surge following the imposition of expanded US Treasury sanctions on Russian oil.

  • Just Dial is plunging as its net profit declines by 14.8% QoQ to Rs 131.3 crore in Q3FY25, missing Forecaster estimates by 8.4%. Revenue falls by 8.5% QoQ to Rs 364.7 crore due to a reduction in total traffic during the quarter. It shows up in a screener of stocks with high promoter pledges.

  • Waaree Energies rises as it signs a share purchase agreement with Enel Green Power Development to acquire a 100% stake in its subsidiary, Enel Green Power India for up to Rs 792 crore.

  • Godrej Properties launches its first premium residential project in Hyderabad, Godrej Madison Avenue. The project offers 12 lakh sq. ft. of saleable area with 3 and 4 BHK apartments, estimated at Rs 1,300 crore in booking value.

  • PCBL falls sharply as its net profit declines 37.1% YoY to Rs 93.1 crore in Q3FY25 due to higher raw material prices, employee benefits, and finance costs. However, revenue grows by 21.5% YoY to Rs 2,021.1 crore, driven by improvement in the carbon black and chemicals segments. It appears in a screener of stocks with declining return on equity (RoE) over the past two years.

  • Gloom in markets in early trading. Nifty 50 was trading at 23241.70 (-189.8, -0.8%) , BSE Sensex was trading at 76582.18 (-796.7, -1.0%) while the broader Nifty 500 was trading at 21564.75 (-234.3, -1.1%)

  • Market breadth is sharply down. Of the 2030 stocks traded today, 291 were on the uptrend, and 1695 went down.

Riding High:

Largecap and midcap gainers today include Aditya Birla Capital Ltd. (169.84, 1.3%), Biocon Ltd. (365.20, 1.2%) and Axis Bank Ltd. (1,049.30, 0.8%).

Downers:

Largecap and midcap losers today include Adani Wilmar Ltd. (262, -10%), Macrotech Developers Ltd. (1,165.30, -9.2%) and Rail Vikas Nigam Ltd. (357.95, -9.0%).

Volume Shockers

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

Top high volume gainers on BSE included Prism Johnson Ltd. (162.18, 7.2%), Piramal Pharma Ltd. (232.65, 5.2%) and Crisil Ltd. (5,806.35, 2.3%).

Top high volume losers on BSE were Just Dial Ltd. (899.30, -13.1%), PCBL Ltd. (351.85, -10.0%) and Adani Wilmar Ltd. (262, -10%).

Happiest Minds Technologies Ltd. (718.50, 1.7%) was trading at 7.2 times of weekly average. Aditya Birla Capital Ltd. (169.84, 1.3%) and KEI Industries Ltd. (3,974.95, -4.8%) were trading with volumes 5.2 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks hit their 52 week highs, while 80 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - HCL Technologies Ltd. (1,989.40, -0.3%) and Krishna Institute of Medical Sciences Ltd. (617.85, -4.9%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,859.45, -3.7%) and Asian Paints Ltd. (2,252.65, -2.9%).

3 stocks climbed above their 200 day SMA including Tata Consultancy Services Ltd. (4,291.10, 0.6%) and Indian Renewable Energy Development Agency Ltd. (199.88, -0.6%). 57 stocks slipped below their 200 SMA including PCBL Ltd. (351.85, -10.0%) and Macrotech Developers Ltd. (1,165.30, -9.2%).

 
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