Trendlyne Marketwatch
Trendlyne Marketwatch
22 Jan 2025
Market closes higher, HDFC Bank's net profit grows 2.2% YoY to Rs 16,735.5 crore in Q3
By Trendlyne Analysis

 

Markets closed higher. Nifty 50 closed at 23,155.35 (130.7, 0.6%) , BSE Sensex closed at 76,404.99 (566.6, 0.8%) while the broader Nifty 500 closed at 21,396.55 (-36.7, -0.2%). Market breadth is moving down. Of the 2,394 stocks traded today, 522 showed gains, and 1,846 showed losses.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 23,155.4 points. The Indian volatility index, Nifty VIX, fell 1.7% and closed at around 16.8 points. HDFC Bank's net profit grew 2.2% YoY to Rs 16,735.5 crore in Q3FY25. Revenue increased 7% YoY to Rs 87,460.4 crore during the quarter. 

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Services Sector and Nifty Pharma closed higher. According to Trendlyne’s sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 1.4%.

European indices are trading in the green, except for Spain’s IBEX 35. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session. Alphabet reportedly invests an additional $1 billion in AI start-up Anthropic, building on its earlier $2 billion commitment to strengthen its position in the AI race. GE Aerospace, Texas Instruments, and Union Pacific are set to report their earnings later today.

  • Relative strength index (RSI) indicates that Sanofi India is in the oversold zone.

  • HDFC Bank rises as its net profit grows 2.2% YoY to Rs 16,735.5 crore in Q3FY25. Revenue increases 7% YoY to Rs 87,460.4 crore, owing to improvements in the treasury, retail and wholesale banking segments. However, the bank's asset quality declines as its gross and net NPA grow by 16 bps and 15 bps YoY, respectively. It appears in a screener of stocks with increasing revenue for the past four quarters.

  • Cyient DLM plunges to its 52-week low of Rs 505.7 per share as its net profit declines 40.4% YoY to Rs 11 crore in Q3FY25 due to higher raw materials, inventory, employee benefits, finance, and depreciation & amortisation expenses. However, revenue grows 36.5% YoY to Rs 451.1 crore, helped by improvements in the defence and aerospace segments. It appears in a screener of stocks with declining cash flows.

  • LTIMindtree is rising as it extends its partnership with the Association of American Medical Colleges (AAMC), a non-profit association focused on improving medical education and health care. Under this partnership, the company will help AAMC accelerate continuous improvement initiatives, improve decision-making, and enhance productivity.

  • Bandhan Bank receives a claim payout of Rs 289.6 crore under the Credit Guarantee Fund for Micro Units (CGFMU) scheme. The amount, calculated at Rs 314.7 crore as of March 31, 2024, is adjusted by Rs 25.1 crore recovered from eligible accounts between April 1 and October 31, 2024.

  • Polycab India falls sharply as its revenue misses Forecaster estimates by 2.8% despite rising 20.4% YoY to Rs 5,226.1 crore in Q3FY25, driven by strong performance in the wires & cables and FMEG segments. Net profit grows by 10.8% YoY to Rs 457.6 crore, helped by inventory destocking. It shows up in a screener of stocks with an increasing trend in non-core income.

  • Neuland Laboratories rises sharply as its board of directors approves a capex of Rs 342 crore for the capacity expansion at Units 1 and 3 of its Telangana manufacturing facility. The company plans to increase the peptide synthesizer capacity by 6.4-kilo litre (KL) from 6.9 KL at Unit 1 and expand capacity by 52 KL to 373 KL at Unit 3.

  • ITI secures a Rs 167 crore contract from the Rural Development Department, Government of Maharashtra. The contract involves setting up, operationalizing, rolling out, and monitoring the implementation of Aaple Sarkar Seva Kendra (ASSK) in the Gram Panchayats of the Chatrapathi Sambhaji Nagar, Nagpur, and Amaravati regions of Maharashtra.

  • Jefferies maintains a 'Buy' rating on Ambuja Cements & ACC with target prices of Rs 725 and Rs 2,655, respectively. The brokerage cites the cement industry's recovery in volume and pricing in CY25. It names Ambuja Cements among its top picks and expects the recent mergers and acquisitions (M&As) to help drive volume growth.

  • Tanla Platforms falls sharply as its Q3FY25 net profit drops by 15.4% YoY to Rs 118.5 crore due to higher cost of services and employee benefits expenses. Revenue decreases marginally by 0.2% YoY to Rs 1,000.4 crore during the quarter. It shows up in a screener of stocks where mutual funds decreased their holding in the past quarter.

  • Piramal Pharma is falling as it issues a corporate guarantee for a $216 million (~ Rs 1,869.1 crore) loan for its European subsidiary, Piramal Dutch Holdings, from a group of banks, including The Hong Kong and Shanghai Banking Corp, BNP Paribas, and Axis Bank.

  • Akums Drugs & Pharmaceuticals is falling as the Income Tax Department conducts a search at the company's and its subsidiaries' offices and manufacturing units.

  • Life Insurance Corporation of India increases its stake in Container Corp of India (CONCOR) to 9.8% (approx 6 crore shares) from 7.8% in September 2024, by buying 41 lakh shares this month. The insurer bought the stake through open market purchases, indicating confidence in the company's outlook.

  • Dalmia Bharat's net profit plunges 76.8% YoY to Rs 61 crore in Q3FY25. Revenue declines 12.2% YoY to Rs 3,218 crore due to lower sales volumes during the quarter. It shows up in a screener of stocks with PE higher than industry average PE.

  • India Cements' falls sharply as its revenue falls 16.5% YoY to Rs 903.2 crore in Q3FY25, missing the Forecaster estimates by 4.5%. Net loss expands to Rs 428.8 crore compared to Rs 16.5 crore in Q3FY24 due to higher raw material, power & fuel and finance costs. It shows up in a screener of stocks underperforming their industry price change in the quarter.

  • Rossari Biotech is falling as its net profit misses Forecaster estimates by 6.5% after declining 7.8% YoY to Rs 31.7 crore in Q3FY25 due to rising input costs and lower operational efficiency. However, revenue increases 10.6% YoY to Rs 512.7 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Kotak Institutional Equities believes the Indian economy could experience moderate collateral damage if a prolonged "conflict" arises between foreign portfolio investors (FPIs) and domestic institutional investors (DIIs). The brokerage anticipates large FPI outflows, with DIIs buying at current high valuations, likely leading to issues with the balance of payments (BoP), forex reserves, and liquidity.

  • JK Tyre & Industries secures a $100 million (~Rs 865.7 crore) sustainability-linked loan from the International Finance Corporation (IFC), allocating $30 million to itself and $70 million to its subsidiary, Cavendish Industries. The funds will boost passenger car radial (PCR) tyre production at its Madhya Pradesh plant and bus radial (TBR) tyres in Uttarakhand.

  • KEI Industries is falling as its Q3FY25 net profit misses Forecaster estimates by 6% despite growing 9.4% YoY to Rs 164.8 crore, helped by inventory destocking and lower sub-contracting expenses. Revenue rises 19.6% YoY to Rs 2,480.9 crore, driven by improvements in the cables & wires and stainless steel wire segments. It appears in a screener of stocks with growing costs YoY for long-term projects.

  • Home First Finance Company India's board of directors schedules a meeting for January 28 to consider a proposal to raise funds via a qualified institutional placement (QIP) of equity shares. The board will also announce the company's Q3FY25 earnings during the meeting.

  • DAM Capital initiates a 'Buy' rating on Karur Vysya Bank with a target price of Rs 274. The brokerage highlights the bank's structural transformation, with improvements in return on assets (RoA) and return on equity (RoE) to 1.7% and 17%, respectively. It believes the bank has the potential to be a steady compounder and its strong business can thrive in the mid-sized banking sector.

  • IndiaMART InterMESH plunges to its 52-week low of Rs 2,065.4 per share as its Q3FY25 net profit declines 10.4% QoQ to Rs 121 crore, caused by higher employee benefits expenses. Revenue falls 3.2% QoQ to Rs 399.2 crore during the quarter. It shows up in a screener of stocks where promoters are decreasing their shareholding.

  • PNB Housing Finance's net profit grows 42.8% YoY to Rs 483.3 crore in Q3FY25, driven by better management of financial losses and write-offs. Revenue increases 10.7% YoY to Rs 1,941.8 crore during the quarter. It features in a screener of stocks with zero promoter pledges.

  • Tata Technologies' net profit grows 7.1% QoQ to Rs 168.6 crore in Q3FY25, helped by lower outsourcing & consultancy expenses. Revenue rises 2.4% QoQ to Rs 1,345 crore, driven by improvements in the services and technology solutions segments. It features in a screener of stocks with increasing return on equity (RoE) over the past two years.

  • ICICI Prudential Life Insurance's net profit grows 43.2% YoY to Rs 325.7 crore in Q3FY25, helped by lower advertisement and publicity expenses. Revenue decreases by 82.8% YoY to Rs 4,535.6 crore due to a loss from investment income during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past three quarters.

  • Nifty 50 was trading at 23,099.85 (75.2, 0.3%) , BSE Sensex was trading at 76,114.42 (276.1, 0.4%) while the broader Nifty 500 was trading at 21,416.70 (-16.5, -0.1%)

  • Market breadth is sharply down. Of the 1,902 stocks traded today, 528 were gainers and 1,324 were losers.

Riding High:

Largecap and midcap gainers today include Bajaj Holdings & Investment Ltd. (11,286.40, 4.5%), Wipro Ltd. (309.10, 3.6%) and Infosys Ltd. (1,856.45, 3.1%).

Downers:

Largecap and midcap losers today include Macrotech Developers Ltd. (1,077.20, -6.1%), Polycab India Ltd. (6,164.35, -6.0%) and ICICI Prudential Life Insurance Company Ltd. (598.05, -5.9%).

Movers and Shakers

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

Top high volume gainers on BSE included Bombay Burmah Trading Corporation Ltd. (2,230.15, 12.6%), Star Cement Ltd. (229.77, 6.9%) and Elgi Equipments Ltd. (558.80, 5.6%).

Top high volume losers on BSE were India Cements Ltd. (319.65, -8.3%), Aditya Birla Real Estate Ltd. (1,845.80, -6.7%) and IndiaMART InterMESH Ltd. (2,143.45, -6.6%).

Zydus Wellness Ltd. (1,802, -3.2%) was trading at 20.3 times of weekly average. Bajaj Holdings & Investment Ltd. (11,286.40, 4.5%) and PNB Housing Finance Ltd. (911.45, 1.4%) were trading with volumes 15.9 and 10.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

30 stocks tanked below their 52 week lows.

Stocks making new 52 weeks lows included - Astral Ltd. (1,455.40, -0.6%) and Axis Bank Ltd. (959.30, -1.1%).

6 stocks climbed above their 200 day SMA including Bombay Burmah Trading Corporation Ltd. (2,230.15, 12.6%) and Star Cement Ltd. (229.77, 6.9%). 43 stocks slipped below their 200 SMA including India Cements Ltd. (319.65, -8.3%) and Aegis Logistics Ltd. (718.65, -6.1%).

 
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