Trendlyne Marketwatch
Trendlyne Marketwatch
21 Jan 2025
Market closes lower, Aditya Birla Real Estate's Q3 revenue falls 12.3% YoY to Rs 961.3 crore
By Trendlyne Analysis

 

 

Nifty 50 closed at 23,024.65 (-320.1, -1.4%) , BSE Sensex closed at 75,838.36 (-1235.1, -1.6%) while the broader Nifty 500 closed at 21,433.20 (-375.8, -1.7%). Market breadth is sharply down. Of the 2,390 stocks traded today, 546 showed gains, and 1,815 showed losses.

Indian indices closed in the red as most of the Q3 earnings, were either in-line or marginally fell short of expectations. Stretched valuations added to the trouble. Zomato was the biggest stock loser on the Sensex today, falling over 10% after its net profit dropped 57.2% YoY. The Indian volatility index, Nifty VIX, rose 3.5% and closed at 17 points.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. S&P BSE Realty Index and Nifty Realty were among the top index losers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 3.6%.

Asian indices closed higher with an exception of Indian indices, while European indices are trading mixed. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the red. Goldman Sachs expects Chinese equity markets to grow 20% over the next 12 months, despite US trade tariff concerns. Kinger Lau, chief China equity strategist at the firm, believes China can absorb additional tariffs this year and anticipates low-teens earnings growth for Chinese companies, excluding the tariff impact.

  • Money flow index (MFI) indicates that Vodafone Idea is in the overbought zone.

  • Indian Railway Finance Corp's net profit grows 2% YoY to Rs 1,630.7 crore in Q3FY25. Revenue increases marginally by 0.4% YoY to Rs 6,763.4 crore, helped by higher lease income. It shows up in a screener of stocks with improving book value over the past two years.

  • Adani Energy Solutions secures an order worth approximately Rs 25,000 crore for the Bhadla (Rajasthan)-Fatehpur (Uttar Pradesh) High Voltage Direct Current (HVDC) transmission project. The order aims to evacuate 6 GW of renewable energy from Rajasthan’s renewable energy zones to demand centers in North India and the national grid. AESL will complete the project within 4.5 years.

  • Aditya Birla Real Estate is falling sharply as it posts a net loss of Rs 40.6 crore in Q3FY25 compared to a net profit of Rs 83.3 crore in Q3FY24 due to higher inventory, land, construction, employee benefits, finance, and depreciation & amortisation expenses. Revenue declines 12.3% YoY to Rs 961.3 crore, caused by a reduction in the pulp and paper segment. It shows up in a screener of stocks with weakening technicals and share price decline.

  • Sudipta Roy, Managing Director & CEO of L&T Finance, projects a 20% growth in assets under management (AUM) for FY25. He adds that the company’s disbursements will be risk-calibrated, with reduced sectoral disbursements in the rural joint liability group segment. Roy expects credit costs to remain high in Q4FY25 and highlights a recovery in the rural segment in Q3.

  • Sunteck Realty is rising as it posts a net profit of Rs 42.5 crore in Q3FY25 compared to a net loss of Rs 9.7 crore in Q3FY24, driven by lower construction and development costs. Revenue surges 2.8X YoY to Rs 161.8 crore during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past two quarters.

  • South Indian Bank's net profit grows 12% YoY to Rs 342 crore in Q3FY25. Revenue increases 6.9% YoY to Rs 2,817.8 crore driven by improvements in the corporate and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline by 44 bps YoY and 36 bps YoY, respectively. It shows up in a screener of stocks with increasing revenue over the past eight quarters.

  • AGI Greenpac's Q3FY25 net profit grows 34.9% YoY to Rs 90.5 crore owing to lower raw materials, employee benefits, finance, and depreciation & amortisation expenses. Revenue rises 7.8% YoY to Rs 674 crore, led by an improvement in the packaging products segment. It features a screener of stocks with dividend yields greater than their sector average dividend yield.

  • Macquarie maintains a positive outlook for the cement industry, forecasting demand recovery and price hikes to drive margin expansion in H2CY24. The brokerage keeps an 'Outperform' rating on Ultratech Cement with a target price of Rs 11,868. However, it downgrades Ramco Cements to an 'Underperform' rating with a target price of Rs 785.

  • Indoco Remedies is falling as it posts a net loss of Rs 26.4 crore in Q3FY25 compared to a net profit of Rs 16.3 crore in Q3FY24 due to higher inventory, depreciation & amortisation, finance, and employee benefits expenses. Revenue declines 10.9% YoY to Rs 411.4 crore, caused by a reduction in exports. It shows up in a screener of stocks with low Piotroski scores.

  • Tata Elxsi partners with Minespider, a blockchain-powered solutions provider, to Launch MOBIUS+ for battery lifecycle traceability. The partnership will develop a battery lifecycle management platform that combines blockchain and analytics to optimize battery sustainability and compliance across global markets.

  • Multi Commodity Exchange of India falls sharply as it posts a net profit of Rs 160 crore in Q3FY25, compared to a loss of Rs 5.4 crore in Q3FY24, but misses Forecaster estimates by 1%. The profit is driven by a significant reduction in information technology and related expenses. Revenue grows 57.3% YoY to Rs 301.4 crore during the quarter. It features in a screener of stocks underperforming their industry price change in the quarter.

  • Nomura upgrades its rating on Gland Pharma to 'Neutral', with a lower target price of Rs 1,790. The brokerage notes that improved US exports could impact the company’s performance. It attributes lower Enoxaparin supplies to the decline in US exports in Q3 but expects a recovery in Q4. This setback will likely result in a stronger product mix, potentially enhancing YoY gross margin.

  • L&T Finance is rising as its Q3FY25 net profit beats Forecaster estimates by 5.2% despite falling 2.2% YoY to Rs 626.4 crore due to higher finance, impairment on financial instruments, and employee benefits expenses. However, revenue grows 14.6% YoY to Rs 4,105.1 crore, helped by improvements in its retail book and disbursements. It features in a screener of stocks with above-line growth and below-line valuations.

  • Cipla is falling as its wholly-owned subsidiary, Medispray Laboratories, receives a Form 483 with one observation from the US FDA following an inspection at its manufacturing facility in Kundaim, Goa.

  • Landmark Cars is rising as it receives a letter of intent (LoI) from JSW MG Motor India (MGI) to set up new MG Select dealerships in Ahmedabad and Kolkata. The dealerships will be established by its subsidiary, Aeromark Cars, and are expected to be operational by May 2025 with two models, MG Cyberstar and MG M9 EV.

  • One97 Communications (Paytm) declines over 5% as its Q3FY25 contribution margin misses analyst estimates amid higher DLG (default loan guarantee) costs. JM Financial anticipates the impact of DLG costs will normalize, with the contributing margin returning to around 55% (excluding UPI incentives). It believes the company will report PAT profitability next quarter, helped by UPI incentives of Rs 350 crore. The brokerage maintains its 'Buy' rating on the stock with a target price of Rs 1,250.

  • Vodafone Idea receives a Rs 1,600 crore tax refund as the Supreme Court upholds the Bombay High Court's ruling, dismissing the tax department's appeal due to an unexplained 295-day filing delay.

  • Reliance Power's board of directors appoints Neeraj Parakh as its Chief Executive Officer (CEO) for three years, effective January 20.

  • Jammu & Kashmir Bank's net profit grows 26.2% YoY to Rs 531.5 crore in Q3FY25. Revenue rises 12.6% YoY to Rs 3,448.4 crore, helped by improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross NPA declines by 76 bps YoY.

  • CLSA remains cautiously optimistic about the Indian IT sector, forecasting a BFSI-led recovery in 2025. It believes the European auto slowdown presents a significant challenge. The brokerage notes improving deal activity in both large and small deals in H2FY25 and expects a 4.5% YoY growth in managed services, driven by a gradual recovery.

  • Glenmark Pharmaceuticals is rising as it launches its Phytonadione Injectable Emulsion Ampules in the US market, used to treat Vitamin K deficiencies. The ampules are equivalent to Hospira’s Vitamin K1 Injectable Emulsion, with an estimated market size of approximately $19.7 million in the year ending November 2024, according to IQVIA.

  • Oberoi Realty is falling sharply as its net profit misses Forecaster estimates by 4.1% despite surging by 71.7% YoY to Rs 618.4 crore in Q3FY25, helped by lower land, development rights, and construction expenses. Revenue grows 34.5% YoY to Rs 1,460.3 crore, attributed to improvements in the real estate and hospitality segments. It shows up in a screener of stocks with an increasing trend in non-core income.

  • Dixon Technologies (India) is falling as its net profit misses Forecaster estimates by 20.4% despite rising 77.5% YoY to Rs 171.2 crore in Q3FY25. Revenue increases 1.2X YoY to Rs 10,453.7 crore, driven by a 1.9X growth in the mobile and electronics manufacturing services segment during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Zomato falls sharply as its Q3FY25 net profit declines 57.2% YoY to Rs 59 crore due to higher inventory, employee benefits, finance, depreciation & amortisation, advertisement & sales promotion, and delivery & related expenses. However, revenue surges 61.3% YoY to Rs 5,657 crore, driven by improvements in the India food ordering & delivery, hyperpure supplies, quick commerce, and going out segments. It appears in a screener of stocks with expensive valuations according to Trendlyne valuation scores.

  • Nifty 50 was trading at 23,389.75 (45, 0.2%), BSE Sensex was trading at 77,261.72 (188.3, 0.2%) while the broader Nifty 500 was trading at 21,819.60 (10.6, 0.1%).

  • Market breadth is ticking up strongly. Of the 1,944 stocks traded today, 1,386 showed gains, and 524 showed losses.

Riding High:

Largecap and midcap gainers today include Hindustan Petroleum Corporation Ltd. (369.95, 2.7%), Apollo Hospitals Enterprise Ltd. (6,919.15, 2.0%) and Gujarat Fluorochemicals Ltd. (3,823.55, 1.7%).

Downers:

Largecap and midcap losers today include Dixon Technologies (India) Ltd. (15,144.35, -13.8%), Zomato Ltd. (214.55, -10.5%) and Oberoi Realty Ltd. (1,858.05, -7.2%).

Volume Rockets

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

Top high volume gainers on BSE included Global Health Ltd. (1,055.35, 5.4%), Century Plyboards (India) Ltd. (818.65, 3.3%) and Vinati Organics Ltd. (1,745.70, 2.5%).

Top high volume losers on BSE were Newgen Software Technologies Ltd. (1,311.35, -16.2%), Dixon Technologies (India) Ltd. (15,144.35, -13.8%) and Zomato Ltd. (214.55, -10.5%).

Tanla Platforms Ltd. (666.05, 0.9%) was trading at 22.8 times of weekly average. Sunteck Realty Ltd. (493.60, 0.2%) and Dalmia Bharat Ltd. (1,771.20, 1.1%) were trading with volumes 14.2 and 6.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock overperformed with 52 week highs, while 9 stocks were underachievers and hit their 52 week lows.

Stock touching their year highs included - Biocon Ltd. (390.55, -2.7%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,464.60, -1.3%) and Axis Bank Ltd. (970.20, -1.8%).

16 stocks climbed above their 200 day SMA including Sammaan Capital Ltd. (160.91, 2.1%) and Star Cement Ltd. (214.87, 2.1%). 23 stocks slipped below their 200 SMA including Zomato Ltd. (214.55, -10.5%) and Oberoi Realty Ltd. (1,858.05, -7.2%).

 
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