Trendlyne Marketwatch
Trendlyne Marketwatch
23 Jan 2025
Market closes higher, Adani Energy's Q3 revenue grows 27.8% YoY to Rs 5,830.3 crore
By Trendlyne Analysis

 

Nifty 50 closed at 23,205.35 (50, 0.2%) , BSE Sensex closed at 76,512.96 (108.0, 0.1%) while the broader Nifty 500 closed at 21,538.05 (141.5, 0.7%). Market breadth is in the green. Of the 2,388 stocks traded today, 1,265 were on the uptrend, and 1084 went down.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 23,205.4 points. The Indian volatility index, Nifty VIX, fell 0.4% and closed at around 16.7 points. Hindustan Unilever closed in the red as its Q3FY25 revenue missed Forecaster estimates by 1.8% despite growing 1.7% YoY to Rs 16,050 crore. Net profit rose 18.9% YoY to Rs 2,984 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty India Digital and Nifty Consumer Durables were among the best performing indices of the day. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 2.5%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session. Intuitive Surgical, GE Aerospace, Texas Instruments, and Evelance Health are set to report their earnings later today.

  • Kalyan Jewellers India sees a short buildup in its January 30 futures series, with open interest increasing by 22.5% and a put-call ratio of 0.6.

  • Adani Energy Solutions rises as its net profit surges 72.9% YoY to Rs 561.8 crore in Q3FY25, helped by a deferred tax credit of Rs 88.5 crore. Revenue rises 27.8% YoY to Rs 5,830.3 crore, owing to improvements in the transmission and distribution segments. It appears in a screener of stocks with increasing revenue for the past four quarters.

  • Ultratech Cement rises sharply as its Q3FY25 net profit beats Forecaster estimates by 15.8% despite falling 17.3% YoY to Rs 1,469.5 crore due to higher raw materials, inventory, employee benefits, finance, depreciation & amortisation, and freight & forwarding expenses. It features in a screener of stocks near their 52-week highs with significant volumes.

  • Indian Renewable Energy Development Agency's board of directors approves raising funds worth up to Rs 5,000 crore through a qualified institutional placement (QIP) of equity shares.

  • Bharti Airtel and Jio align with the Telecom Regulatory Authority of India's (TRAI) directive. Airtel reduces its annual and quarterly voice plans by Rs 40-70, while Reliance Jio introduces new plans following an order for separate voice and SMS plans.

  • GAIL is rising as it signs a non-binding memorandum of understanding (MoU) with Argentina's YPF and two Indian firms to explore LNG exports, lithium, and hydrocarbon opportunities. The collaboration aims to strengthen ties in energy and mining sectors for global markets.

  • Zydus Lifesciences is rising as the US FDA grants Orphan Drug Designation (ODD) to Usnoflast, an oral inhibitor for treating amyotrophic lateral sclerosis (ALS), a fatal neurodegenerative disease.

  • Cigniti Technologies surges more than 10% as its Q3FY25 net profit grows 20.1% QoQ to Rs 63.6 crore, helped by lower employee benefits, finance, and depreciation & amortisation expenses. Revenue rises 1.7% QoQ to Rs 525.8 crore, driven by increased order intake from the Americas, Europe, Middle East, and Africa (EMEA). It appears in a screener of stocks where promoter holding increased more than 2% QoQ.

  • Inder Jaisinghani, Chief Managing Director of Polycab India, notes that Q3 volume growth was affected by delayed private capex and a slowdown in public spending but remains optimistic about Q4 growth. He sets a revenue target of Rs 40,000 crore and aims to reach Rs 50,000 crore by 2030. Jaisinghani also states the company has no inorganic growth plans at present.

  • Paras Defence and Space Technologies surges as it signs a memorandum of understanding (MoU) with the Maharashtra government to develop an Optics Park in Navi Mumbai. The project is expected to cost Rs 12,000 crore over 10 years and aims to advance optical technologies, generating 2,000 jobs.

  • Zensar Technologies surges to its all-time high of Rs 869.7 per share as its Q3FY25 net profit grows 2.6% QoQ to Rs 159.8 crore owing to lower purchase of traded goods, sub-contracting, finance, and depreciation & amortisation expenses. Revenue rises 0.5% QoQ to Rs 1,356.3 crore, attributed to improvements in the digital & application services and cloud infrastructure & security segments. It features in a screener of stocks with consistent highest returns over the past five years.

  • Laxmi Organic Industries' net profit grows 7.8% YoY to Rs 29.3 crore in Q3FY25 due to lower cost of materials and employee benefit expenses. Revenue increases 13.3% YoY to Rs 786.3 crore during the quarter. The company features in a screener of stocks with improving cash flow from operations over the past two years.

  • India’s Steel Ministry advocates for a Rs 15,000 crore policy push for green steel in the upcoming budget. Reports suggest that the fund will include a PLI-type scheme to incentivise low-carbon steelmaking and introduce a mandatory procurement provision for this higher-cost metal, along with other key focus areas.

  • Vijay Kedia sells a 0.6% stake in Tejas Networks in Q3FY25. He now holds a 1.3% stake in the company.

  • RARE Enterprises sells a 0.8% stake in Nazara Technologies in Q3FY25. He now holds a 7.2% stake in the company.

  • Coforge surges more than 10% as its Q3FY25 net profit grows 6.6% QoQ to Rs 215.5 crore. Revenue rises 8.3% QoQ to Rs 3,377.8 crore, owing to improved order intake. It features in a screener of stocks where FIIs are increasing their shareholding.

  • Reports indicate that Mazagon Dock Shipbuilders, in partnership with Germany's TKMS, progresses to the commercial negotiation stage for the Centre's Rs 70,000 crore P75(I) submarine project. The new submarines, equipped with air-independent propulsion systems, are expected to become operational within seven years of contract signing.

  • Stallion India Fluorochemicals' shares debut on the bourses at a 33.3% premium to the issue price of Rs 90. The Rs 199.4 crore IPO received bids for 188.4 times the total shares on offer.

  • Housing and Urban Development Corp signs a memorandum of understanding (MoU) with Vadhvan Port Project (VPPL), a joint venture (JV) between JNPA (Government of India) and Maharashtra Maritime Board (MMB). As per the MoU, the company will finance up to Rs 25,000 crore and explore the development of new ports.

  • Laurus Labs' wholly-owned foreign subsidiary, Laurus Generics, receives a Form 483 with one observation from the US FDA following a post-marketing adverse drug experience (PADE) inspection. The subsidiary is located in Berkeley Heights, New Jersey, USA.

  • Jefferies is positive on the Indian auto sector, expecting the two-wheeler and tractor segments to grow at a 13-15% CAGR over 2025-27. The brokerage names Mahindra & Mahindra (M&M), Eicher Motors, and TVS Motor as its top picks, assigning 'Buy' ratings with target prices of Rs 4,075, Rs 6,600, and Rs 3,050, respectively. It believes these companies' growth outlook and improving franchises will support their premium valuations.

  • Persistent Systems is surging as its net profit grows 14.8% QoQ to Rs 373 crore in Q3FY25. Revenue rises 5.5% QoQ to Rs 3,104.9 crore, led by improvements in the banking, financial services & insurance (BFSI), healthcare & life sciences, and software, hi-tech, & emerging industries segments. It features in a screener of stocks with increasing revenue for the past eight quarters.

  • Hindustan Unilever is falling sharply as its Q3FY25 revenue misses Forecaster estimates by 1.8% despite growing 1.7% YoY to Rs 16,050 crore, helped by improvements in the home care, beauty & wellbeing, and foods segments. Net profit rises 18.9% YoY to Rs 2,984 crore, driven by lower raw material costs. The company's board approves acquiring a 90.5% stake in Uprising Science for a cash consideration of Rs 2,670 crore.

  • Bharat Petroleum Corp is falling as its Q3FY25 net profit misses Forecaster estimates by 27.5% despite growing 19.6% YoY to Rs 3,805.9 crore due to lower cost of materials. However, revenue declines 2% YoY to Rs 1,13,165.9 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Pidilite Industries is rising as its net profit grows 8.2% YoY to Rs 552.4 crore in Q3FY25. Revenue increases 7.6% YoY to Rs 3,368.9 crore, driven by higher sales from the consumer & bazaar, and business-to-business segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Nifty 50 was trading at 23,103.70 (-51.7, -0.2%) , BSE Sensex was trading at 76,414.52 (9.5, 0.0%) while the broader Nifty 500 was trading at 21,361.55 (-35, -0.2%)

  • Market breadth is in the red. Of the 1,888 stocks traded today, 821 were in the positive territory and 1,011 were negative.

Riding High:

Largecap and midcap gainers today include Coforge Ltd. (9,196.45, 11.8%), Persistent Systems Ltd. (6,287.70, 10.6%) and UltraTech Cement Ltd. (11,420.90, 6.8%).

Downers:

Largecap and midcap losers today include Au Small Finance Bank Ltd. (582.40, -3.6%), Jio Financial Services Ltd. (255.85, -2.6%) and Bharat Petroleum Corporation Ltd. (271.25, -2.3%).

Volume Rockets

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

Top high volume gainers on BSE included Go Digit General Insurance Ltd. (327.35, 14.3%), Coforge Ltd. (9,196.45, 11.8%) and Zensar Technologies Ltd. (836.90, 11.6%).

Top high volume losers on BSE were Alembic Pharmaceuticals Ltd. (978.10, -4.0%), EIH Ltd. (385.20, -3.2%) and Housing and Urban Development Corporation Ltd. (221.48, -2.6%).

JK Lakshmi Cement Ltd. (821.45, 5.1%) was trading at 13.2 times of weekly average. Pidilite Industries Ltd. (2,909.65, 5.6%) and Honasa Consumer Ltd. (248, 0.2%) were trading with volumes 9.2 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks made 52 week highs, while 15 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Wipro Ltd. (317.70, 2.8%) and Zensar Technologies Ltd. (836.90, 11.6%).

Stocks making new 52 weeks lows included - Axis Bank Ltd. (951.05, -0.9%) and Grindwell Norton Ltd. (1,826.95, 1.5%).

17 stocks climbed above their 200 day SMA including KEI Industries Ltd. (4,480.60, 8.6%) and UltraTech Cement Ltd. (11,420.90, 6.8%). 19 stocks slipped below their 200 SMA including Ramkrishna Forgings Ltd. (855.05, -4.6%) and Sammaan Capital Ltd. (157.19, -2.8%).

 
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