Trendlyne Marketwatch
Trendlyne Marketwatch
24 Jan 2025
Market closes lower, Granules India's Q3 net profit falls 6.4% YoY to Rs 117.6 crore
By Trendlyne Analysis

 

Nifty 50 closed at 23,092.20 (-113.2, -0.5%), BSE Sensex closed at 76,190.46 (-329.9, -0.4%) while the broader Nifty 500 closed at 21,318.90 (-219.2, -1.0%). Market breadth is sharply down. Of the 2,395 stocks traded today, 438 showed gains, and 1,924 showed losses.

Nifty 50 closed lower after switching between gains and losses throughout the day. The Indian volatility index, Nifty VIX, rose 0.2% and closed at 16.7 points. Cyient plunged to its 52-week low of Rs 1,328.9 per share as its net profit declined 31.7% QoQ to Rs 122.3 crore in Q3FY25.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower, following the benchmark index. S&P BSE SME IPO and BSE SmallCap Select Index 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 4.6%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading flat, indicating a cautious start to the trading session as investors are assessing Trump's comments in an interview, where he expressed hope for a potential trade deal with China. Brent crude oil futures are trading higher.

  • Cyient sees a short buildup in its January 30 futures series, with open interest increasing by 104.7% and a put-call ratio of 1.

  • Max Estates is rising as it acquires a 10.3-acre land parcel in Sector 105 on the Noida-Greater Noida Expressway for Rs 711 crore. The project offers a development potential of 2.6 million sq ft, comprising 40% residential (group housing) and 60% commercial space. It has a gross development value (GDV) potential over Rs 3,000 crore.

  • Granules India falls sharply as its net profit declines 6.4% YoY to Rs 117.6 crore in Q3FY25 due to higher employee benefits and depreciation & amortisation expenses. Revenue falls 1.1% YoY to Rs 1,143.4 crore, caused by a reduction in the active pharmaceutical ingredient (API) and pharmaceutical formulation intermediate (PFI) segments. It shows up in a screener of stocks with declining net cash flow.

  • Exicom Tele-Systems surges to its 5% upper circuit as it secures a Rs 1,412.5 crore advance purchase order from Rail Vikas Nigam (RVNL). The project includes supply of telecom equipment, power systems, and a 10-year maintenance contract for the BharatNet Phase III project in Uttar Pradesh.

  • Citi maintains a 'Buy' rating on UltraTech Cement with a target price of Rs 13,100. The brokerage estimates a 12% volume CAGR through FY25-27 and notes EBITDA/ton upside, primarily driven by cost improvements and continued profitability growth. It also highlights a 1.5% increase in cement prices in Central and West India.

  • Ujjivan Small Finance Bank is falling sharply as its net profit declines 63.8% YoY to Rs 108.6 crore in Q3FY25 due to higher interest, employee benefits expenses, and provisions. However, revenue grows 6.5% YoY to Rs 1,763.2 crore, helped by an improvement in the treasury, retail, and corporate banking segments. The bank's asset quality deteriorates as its gross and net NPAs grow by 50 bps YoY and 39 bps YoY, respectively.

  • Dr. Reddy's Laboratories falls sharply as its Q3FY25 net profit misses Forecaster estimates by 3.2% despite growing 2.5% YoY to Rs 1,413.3 crore. Revenue increases 15.9% YoY to Rs 8,358 crore, driven by improvement in the global generics segment. The company appears in a screener of stocks near their 52-week low.

  • NBCC (India) secures work orders worth Rs 229.8 crore. This includes a Rs 148.4 crore order from the Ministry of Health and Family Welfare for constructing residential units, lecture halls, hostels, and a rooftop solar system at AIIMS Bilaspur. Additionally, it receives an Rs 81.4 crore order from IIM Visakhapatnam for building a hostel, dining facility, and related infrastructure at its campus.

  • Axis Securities expects the Indian government to leverage India’s manufacturing strengths, leading to a PLI scheme for the chemical sector in the upcoming budget. The brokerage anticipates tax incentives for chemical hubs like Gujarat, benefiting Indian manufacturers. These efforts align with broader economic trends, including India’s demographic advantages, manufacturing quality, and the shift towards Euro+1 and China+1 strategies.

  • Zaggle Prepaid Ocean Services signs an agreement with Siemens to provide its Zaggle Propel reward platform, which includes channel rewards and recognition to Siemens' employees for three years.

  • Indus Towers is rising as its Q3FY25 net profit surges 159.9% YoY to Rs 4,003.2 crore, owing to a Rs 3,024.1 crore reversal of allowances for doubtful receivables. Revenue grows 4.6% YoY to Rs 7,631.2 crore, supported by new towers and colocations. It features in a screener of affordable stocks with good financials and durability.

  • One97 Communications (Paytm) falls sharply as reports reveal the company is among eight payment gateways under Enforcement Directorate (ED) investigation in a Rs 2,200 crore cryptocurrency scam. The scam involves HPZ token, allegedly operated by Chinese nationals.

  • Erez Israeli, CEO of Dr. Reddy's Laboratories, says while the company faces competition in some products, it plans to launch 15-20 new products annually. He expresses satisfaction with a 25% margin, though it may vary depending the the product mix. He also mentions plan to launch the GLP-1 drug in Canada, India, and Brazil in 2026 and is seeking funding from multiple sources.

  • MphasiS' Q3FY25 net profit grows 1.1% QoQ to Rs 427.8 crore, helped by lower employee benefits and finance costs. Revenue rises 0.8% QoQ to Rs 3,624.1 crore, led by an improvement in the baking & financial services, technology media & telecom, and insurance segments. It appears in a screener of stocks with increasing revenue for the past four quarters.

  • Ashish Kacholia cuts stake in E2E Networks to below 1% in Q3FY25. He held a 1.1% stake in the company in Q2FY25.

  • Kalpataru Projects International, along with its international subsidiaries, secures new orders worth Rs 2,038 crore. The orders include transmission and distribution (T&D) projects in India and international markets, and a building project in India.

  • The Appellate Tribunal for Electricity (APTEL) directs the Maharashtra State Electricity Distribution Company (MSEDCL) to pay NTPC Rs 2,477 crore for terminating agreement with its subsidiary, Ratnagiri Gas Power (RGPPL). The dispute dates back to 2014, when MSEDCL ended its agreement with RGPPL, which operates a 2 GW gas-fired plant in Maharashtra.

  • Bondada Engineering is rising as it signs a memorandum of understanding (MoU) worth Rs 450 crore with the Assam Government to set up a 100 MW hybrid power plant in Assam.

  • Kotak Mahindra Bank acquires a Rs 3,300 crore personal loan portfolio from Standard Chartered Bank.

  • Indian Energy Exchange is rising as its net profit beats Forecaster estimates by 5.2% as it grows 16.9% YoY to Rs 107.3 crore in Q3FY25, driven by lower finance cost and employee benefit expenses. Revenue increases 14.5% YoY to Rs 132.1 crore during the quarter. The company appears in a screener of stocks with zero promoter pledge.

  • India’s manufacturing PMI climbs to a six-month high of 58 in January 2025, up from 56.4 in December, driven by a recovery in new orders after a relatively weak Q3. In contrast, India’s Services PMI declines from 59.3 in December to 56.8 in January, reflecting slower growth in new domestic business within the services sector.

  • Mankind Pharma is falling as its net profit misses Forecaster estimates by 18.2% as it declines 16.2% YoY to Rs 380.2 crore in Q3FY25 due to higher cost of finance and employee benefit expenses. However, revenue rises 23.9% YoY to Rs 3,230 crore during the quarter. The company appears in a screener of stocks outperforming their industry in terms of share price change over the past quarter.

  • Sona BLW Precision Forgings' net profit grows 13.9% YoY to Rs 151.2 crore in Q3FY25. Revenue increases 11.8% YoY to Rs 868 crore, driven by 48% YoY growth in the battery electric vehicle (BEV) segment, contributing 39% of the overall revenue during Q3. The company appears in a screener of stocks with improving RoCE over the past two years.

  • Cyient plunges to its 52-week low of Rs 1,579.8 per share as its net profit declines 31.7% QoQ to Rs 122.3 crore in Q3FY25 due to higher employee benefits, raw materials, and depreciation & amortisation expenses. However, revenue grows 0.5% QoQ to Rs 1,909.8 crore, helped by an improvement in the digital, engineering & technology (DET) and design led manufacturing (DLM) segments. It shows up in a screener of stocks where promoters are decreasing their shareholding.

  • Hindustan Petroleum Corp rises sharply as its Q3FY25 net profit surges 3.6x YoY to Rs 2,543.7 crore, helped by lower inventory expenses. Revenue rises marginally by 0.4% YoY to Rs 1.2 lakh crore, driven by an improvement in the downstream petroleum segment. It appears in a screener of stocks with YoY growth in quarterly net profit and increasing profit margin.

  • Nifty 50 was trading at 23,273.25 (67.9, 0.3%) , BSE Sensex was trading at 76,455.35 (-65.0, -0.1%) while the broader Nifty 500 was trading at 21,604.10 (66.1, 0.3%)

  • Market breadth is overwhelmingly positive. Of the 1,881 stocks traded today, 1,334 were gainers and 488 were losers.

Riding High:

Largecap and midcap gainers today include Torrent Power Ltd. (1,469.70, 3.2%), MphasiS Ltd. (3,009.30, 3.1%) and Au Small Finance Bank Ltd. (594.65, 2.1%).

Downers:

Largecap and midcap losers today include Prestige Estates Projects Ltd. (1,255.65, -6.5%), Oil India Ltd. (424.50, -5.9%) and UNO Minda Ltd. (913.60, -5.6%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Capri Global Capital Ltd. (200.60, 10.4%), KFIN Technologies Ltd. (1,164.90, 5.5%) and Five-Star Business Finance Ltd. (703.95, 4.3%).

Top high volume losers on BSE were Cyient Ltd. (1,344.90, -23.4%), Techno Electric & Engineering Company Ltd. (1,110.05, -7.4%) and Syngene International Ltd. (796.10, -6.0%).

Aegis Logistics Ltd. (675.15, -4.5%) was trading at 12.1 times of weekly average. MphasiS Ltd. (3,009.30, 3.1%) and Atul Ltd. (6,547.10, -3.0%) were trading with volumes 11.0 and 9.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks hit their 52 week lows.

Stocks making new 52 weeks lows included - Apollo Tyres Ltd. (423.40, -3.5%) and Axis Bank Ltd. (948.50, -0.3%).

15 stocks climbed above their 200 day SMA including ICICI Securities Ltd. (807, 1.0%) and Indus Towers Ltd. (367.95, 0.4%). 20 stocks slipped below their 200 SMA including Syngene International Ltd. (796.10, -6.0%) and Ramkrishna Forgings Ltd. (804.25, -5.9%).

 
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