Trendlyne Marketwatch
Trendlyne Marketwatch
20 Jan 2025
Market closes higher, ICICI Lombard's net profit grows 67.9% YoY to Rs 724.4 crore in Q3
By Trendlyne Analysis

 

 

Nifty 50 closed at 23,344.75 (141.6, 0.6%) , BSE Sensex closed at 77,073.44 (454.1, 0.6%) while the broader Nifty 500 closed at 21,809 (128.8, 0.6%). Market breadth is in the green. Of the 2,431 stocks traded today, 1,503 were gainers and 891 were losers.

Nifty 50 closed in the green after rising in the morning session. The Indian volatility index, Nifty VIX, rose 4.2% and closed at 16.4 points. Kotak Mahindra Bank surged as its net profit grew 10% YoY to Rs 3,304.8 crore in Q3FY25. Revenue increased 13.9% YoY to Rs 16,050.4 crore, led by improvements in the treasury, corporate, and retail banking segments.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Private Bank and S&P BSE Telecom Index were among the top index gainers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the top-performing sector of the day, with a rise of 2.9%.

Asian indices closed higher, except for Korea’s KOSPI and Thailand’s SET, which closed flat. European indices are trading mixed. US index futures are trading flat, indicating a cautious start to the trading session. Brent crude oil futures are trading lower as investors expect US President Donald Trump to lift restrictions on Russia's energy sector in exchange for a deal to end the Ukraine-Russia war.

  • Relative strength index (RSI) indicates that PTC Industries is in the overbought zone.

  • Newgen Software Technologies' net profit rises 26.5% QoQ to Rs 89 crore in Q3FY25. Revenue increases 2.6% QoQ to Rs 389.5 crore, driven by higher sales in India, Asia-Pacific (APAC), and the United States regions during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Supreme Petrochem's Q3FY25 net profit grows 5.4% YoY to Rs 71.4 crore, helped by inventory destocking. Revenue rises 18.2% YoY to Rs 1,422.7 crore, led by higher production volumes. It features in a screener of stocks with zero promoter pledges.

  • ICICI Lombard General Insurance's net profit grows by 67.9% YoY to Rs 724.4 crore in Q3FY25. Revenue increases 17.6% YoY to Rs 5,882.8 crore during the quarter, driven by higher sales in the fire, marine, health, crop, and motor segments. It features in a screener of stocks with increasing profits every quarter for the past four quarters.

  • Kalyan Jewellers India rises over 5% as Motilal Oswal AMC issues a clarification, denying social media allegations of bribery related to pushing the company’s shares. Kalyan Jewellers clarified during its earnings call last week that there were no IT raids at its office and dismissed the bribery claims.

  • Nazara Technologies is rising as its board of directors approves raising up to Rs 495 crore through a preferential issue of shares at an issue price of Rs 990 per share.

  • Waaree Renewable Technologies is rising as it receives a letter of intent (LoI) for a Rs 277.2 crore project from a leading wind energy company. The order involves engineering, procurement, and construction (EPC) work for a 105 megawatt peak capacity ground-mounted solar power project.

  • Motilal Oswal maintains its 'Buy' call on Infosys with a target price of Rs 2,200 per share. This indicates a potential upside of 21.4%. The brokerage believes the company will benefit from increased discretionary spending in FY26. It expects the firm's revenue to grow at a CAGR of 8.5% over FY25-27.

  • Suresh Iyer, Managing Director & CEO of Can Fin Homes, projects a 15% growth in assets under management (AUM) for FY26, with disbursals ranging between Rs 8,500-9,000 crore in FY25 and Rs 12,000 crore in FY26. He highlights that 'e-khata' (a portal used to keep property records) issues in Karnataka impacted the business by approximately Rs 400 crore in Q3FY25 but notes recent improvements in the process.

  • Netweb Technologies India's Q3FY25 net profit grows 17.9% QoQ to Rs 30.3 crore. Revenue surges 32.6% QoQ to Rs 335.5 crore, helped by improvements in the high performance computing (HPC), hyperconverged infrastructure (HCI), AI systems, high performance storage (HPS), and space & defence segments. It appears in a screener of stocks with improving net cash flow over the past two years.

  • Jio Financial Services' net profit grows marginally by 0.3% YoY to Rs 294.8 crore in Q3FY25. Revenue increases 6% YoY to Rs 438.4 crore during the quarter, helped by higher gain on fair value changes. It shows up in a screener of stocks where mutual funds increased their shareholding in the past quarter.

  • Hitachi Energy India's board of directors approves raising Rs 4,200 crore by issuing equity shares through a qualified institutional placement (QIP) or other securities.

  • Bajaj Finance enters a partnership with Bharti Airtel to offer its retail financial products on the Airtel Thanks App, with plans for a nationwide expansion to Airtel’s network of stores. Rajeev Jain, MD of Bajaj Finance, highlights the partnership's potential to leverage India’s digital infrastructure for inclusive growth and combine the brands' strengths.

  • Banco Products (India) is rising as its wholly-owned subsidiary, Nederlandse Radiateuren Fabriek (NRF), announces an expansion in Romania by opening a new 18,613 sq m warehouse in Chitila. The facility aims to address growing customer demand in the region and improve operational efficiency to support future growth.

  • One97 Communications is rising as its net loss contracts 5.2% YoY to Rs 208.3 crore in Q3FY25, helped by lower payment processing, marketing & promotional, employee benefits, software, cloud & data centre, and finance costs. However, revenue declines 32.8% YoY to Rs 2,016.5 crore during the quarter. It appears in a screener of stocks with the highest recovery from their 52-week lows.

  • Laxmi Dental's shares debut on the bourses at a 32.8% premium to the issue price of Rs 408. The Rs 698.1 crore IPO received bids for 114.4 times the total shares on offer.

  • United Breweries rises more than 5% as recent discussions reveal that the Telangana government assures the company of a price hike within 30-45 days. The government has plans to clear the outstanding dues in installments over the next 12-13 months. The company has decided to resume its beer supply to Telangana Beverages Corporation (TGBCL), effective immediately.

  • Gland Pharma is rising as it receives an establishment inspection report (EIR) from the US FDA following a good manufacturing practices (GMP) inspection at its Pashamylaram facility in Hyderabad in July 2024, marking the closure of the inspection.

  • Ramkrishna Forgings is rising as its Q3FY25 net profit grows 14.7% YoY to Rs 99.6 crore, helped by inventory destocking and lower depreciation & amortisation expenses. Revenue increases 8.1% YoY to Rs 1,077.4 crore, led by an improvement in the forging components segment. The company's board of directors approves setting up a new casting project with a capacity of 30,000 metric tonnes per annum (MTPA) in Jamshedpur.

  • Kotak Mahindra Bank surges as its net profit grows 10% YoY to Rs 3,304.8 crore in Q3FY25. Revenue increases 13.9% YoY to Rs 16,050.4 crore, led by improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross NPA declines by 23 bps YoY.

  • Citi maintains a 'Buy' rating on SBI Life Insurance Co with a target price of Rs 2,100. The brokerage believes the company's strong momentum in its agency and unit-linked insurance plan (ULIP) businesses presents a promising opportunity for long-term investors. It also highlights the firm's solid operational performance. However, it highlights that potential regulatory challenges regarding bancassurance continue to pose risks.

  • RBL Bank is falling as its net profit declines 80.7% YoY to Rs 32.6 crore in Q3FY25. However, revenue increases 10.8% YoY to Rs 3,536.3 crore, driven by improvements in the treasury, wholesale, and retail banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs contract by 20 bps and 27 bps YoY, respectively.

  • Tech Mahindra's Q3FY25 net profit declines by 21.4% QoQ to Rs 983.2 crore. Revenue falls by 3.8% QoQ to Rs 13,302.1 crore due to a reduction in the business process services (BPS) segment. It shows up in a screener of stocks with expensive valuations according to the Trendlyne valuation score.

  • Indian Hotels Company's net profit grows 28.9% YoY to Rs 582.3 crore in Q3FY25 due to lower finance costs. Revenue increases 29% YoY to Rs 2,533.1 crore, driven by a 40% increase in new businesses during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • Wipro rises sharply as its net profit grows 4.5% QoQ to Rs 3,353.8 crore in Q3FY25, driven by lower inventory, employee benefits, facility, travel, communication, and legal & professional expenses. Revenue increases 0.3% QoQ to Rs 23,322.9 crore, helped by an improvement in the American market. It appears in a screener of stocks with increasing net profit for the past four quarters.

  • Nifty 50 was trading at 23,227.60 (24.4, 0.1%), BSE Sensex was trading at 76,829.60 (210.3, 0.3%) while the broader Nifty 500 was trading at 21,698.75 (18.5, 0.1%).

  • Market breadth is in the green. Of the 2,005 stocks traded today, 1,158 showed gains, and 784 showed losses.

Riding High:

Largecap and midcap gainers today include Kotak Mahindra Bank Ltd. (1,920.50, 9.2%), Wipro Ltd. (300.25, 6.5%) and United Breweries Ltd. (2,060.60, 5.6%).

Downers:

Largecap and midcap losers today include Supreme Industries Ltd. (4,021.90, -4.3%), UNO Minda Ltd. (1,038.55, -4.1%) and Zomato Ltd. (239.75, -3.6%).

Movers and Shakers

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

Top high volume gainers on BSE included Tata Teleservices (Maharashtra) Ltd. (82.73, 16.5%), CreditAccess Grameen Ltd. (999.50, 9.7%) and Kotak Mahindra Bank Ltd. (1,920.50, 9.2%).

Top high volume losers on BSE were Supreme Industries Ltd. (4,021.90, -4.3%), Bharti Hexacom Ltd. (1,302.35, -1.7%) and Hatsun Agro Products Ltd. (954.80, -1.6%).

United Breweries Ltd. (2,060.60, 5.6%) was trading at 6.9 times of weekly average. RBL Bank Ltd. (158.18, 2.0%) and Sanofi India Ltd. (5,400, -0.7%) were trading with volumes 5.3 and 5.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock took off, crossing 52 week highs, while 7 stocks tanked below their 52 week lows.

Stock touching their year highs included - Biocon Ltd. (401.55, 2.0%).

Stocks making new 52 weeks lows included - MRF Ltd. (1,13,502.10, -0.4%) and ZF Commercial Vehicle Control Systems India Ltd. (1,0974.40, -2.7%).

18 stocks climbed above their 200 day SMA including Tata Teleservices (Maharashtra) Ltd. (82.73, 16.5%) and Kotak Mahindra Bank Ltd. (1,920.50, 9.2%). 5 stocks slipped below their 200 SMA including Zomato Ltd. (239.75, -3.6%) and Sapphire Foods India Ltd. (314.25, -1.2%).

 
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