Trendlyne Marketwatch
Trendlyne Marketwatch
28 Jan 2025
Market closes higher, Cipla's net profit beats Forecaster estimates by 30.5% in Q3FY25
By Trendlyne Analysis

 

 

Nifty 50 closed at 22,957.25 (128.1, 0.6%) , BSE Sensex closed at 75,901.41 (535.2, 0.7%) while the broader Nifty 500 closed at 20,924.75 (13.8, 0.1%). Market breadth is overwhelmingly negative. Of the 2,410 stocks traded today, 692 were in the positive territory and 1,695 were negative.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 22,957.3 points. The Indian volatility index, Nifty VIX, rose 0.4% and closed at 18.2 points. Cipla closed higher as its net profit beat Forecaster estimates by 30.5% after growing 48.7% YoY to Rs 1,570.5 crore in Q3FY25, driven by lower finance costs and improved inventory.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Realty and Nifty Financial Services were among the top index performers today. According to Trendlyne’s Sector dashboard, Banking & Finance emerged as the best-performing sector of the day, with a rise of 1.2%.

Asian indices closed mixed. Most European indices are trading in the green, except Russia’s RTSI and MOEX indices, which are trading 0.3% lower each. US index futures are trading in the green, following the Nasdaq sell-off on Monday. Brent crude oil futures are trading higher. President Donald Trump plans to impose import tariffs on computer chips, semiconductors, pharmaceuticals, and metals.

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

  • Route Mobile falls as its Q3FY25 net profit falls 21.9% YoY to Rs 82.5 crore due to higher messaging services costs and employee benefits expenses. Revenue grows 15.6% YoY to Rs 1,183.8 crore, helped by improved India and overseas sales. The company appears in a screener of stocks near their 52-week low.

  • Cipla is rising as its net profit beats Forecaster estimates by 30.5% as it grows 48.7% YoY to Rs 1,570.5 crore in Q3FY25, driven by lower finance costs and improved inventory. Revenue increases 7.1% YoY to Rs 7,072.97 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Federal Bank is falling sharply as its net profit declines 5.1% YoY to Rs 955.4 crore in Q3FY25 due to higher provisions, interest, and employee benefits expenses. However, revenue grows 17.2% YoY to Rs 7,724.9 crore, driven by improvements in the treasury, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 34 bps YoY and 15 bps YoY, respectively.

  • Most foreign banks and brokerages expect the Reserve Bank of India (RBI) to cut rates by 25bps during the MPC meeting on February 7, after keeping the policy rate at 6.5% since February 2023. Radhika Rao, Senior Economist at DBS Group, expects a 25bps cut to initiate a gradual rate reduction cycle, noting that improved liquidity will aid transmission as the meeting nears.

  • Apar Industries falls sharply as its revenue misses Forecaster estimates by 1.5% despite rising 17.7% YoY to Rs 4,716.4 crore in Q3FY25, helped by strong performance in the conductors and power cables segments. Net profit falls 19.6% YoY to Rs 174.9 crore due to higher raw material, inventory, and employee benefits expenses. The company appears in a screener of stocks with an increasing trend in non-core income.

  • 360 One Wam's net profit grows 43.9% YoY to Rs 276.5 crore in Q3FY25. Revenue increases 20.6% YoY to Rs 759.8 crore, driven by improvements in the wealth and asset management segments. It features in a screener of stocks outperforming their industry price change over the past quarter.

  • Aurobindo Pharma's wholly-owned subsidiary, Apitoria Pharma, receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for its Unit-2 API manufacturing facility in Sanga Reddy District, Telangana.

  • Nomura upgrades Balkrishna Industries to a 'Buy' rating with a target price of Rs 3,242. The brokerage highlights the company’s Q3FY25 earnings were in line with expectations. It notes Balkrishna Industries' efforts to expand in key markets like India and the US, with a more significant push planned for the US beginning in FY26. Nomura underlines strong growth in regions like Africa and the Middle East, contributing to a more diversified revenue base.

  • Indraprastha Gas' Q3FY25 net profit declines 31.5% YoY to Rs 326.6 crore due to higher inventory, excise duty, and depreciation & amortisation expenses. However, revenue grows 6.4% YoY to Rs 4,234.5 crore, led by higher sales of compressed natural gas (CNG) and piped natural gas (PNG). It shows up in a screener of stocks with an increasing trend in non-core income.

  • IIFL Finance, IIFL Capital Services, and 360 One Wam fall as the Income Tax (IT) Department conducts search operations at IIFL Group's Mumbai office over alleged multi-crore tax evasion. The raids began early on January 28.

  • Bajaj Housing Finance rises sharply as its net profit grows 25.4% YoY to Rs 548 crore in Q3FY25. Revenue increases 25.8% YoY to Rs 2,449 crore, driven by higher assets under management (AUM), loan assets, and interest income. It shows up in a screener of stocks with reducing debt.

  • Jairam Sampath, Whole-Time Director & CFO of Kaynes Technology India, projects revenue of Rs 3,000 crore in FY25 and Rs 4,500 crore in FY26. He highlights the company’s orderbook grew by 59% YoY to Rs 6,047 crore in Q3. Sampath adds that Kaynes plans a QIP to support inorganic growth and expand into new geographies.

  • Maharashtra Seamless is falling as its net profit declines 32.6% YoY to Rs 186.1 crore in Q3FY25 due to higher material costs. Revenue decreases 1.6% YoY to Rs 1,408.1 crore, driven by lower sales from the steel pipes and tubes segment during the quarter. The company appears in a screener of stocks where mutual funds decreased their shareholding over the past quarter.

  • Piramal Enterprises' revenue declines 1.7% YoY to Rs 2,502.2 crore in Q3FY25. However, it reports a net profit of Rs 38.6 crore during the quarter, compared to a net loss of Rs 2,377.6 crore in Q3FY24. It shows up in a screener of stocks with high interest payments compared to earnings.

  • Atul falls as its net profit misses Forecaster estimates by 12.9% despite rising 53.3% YoY to Rs 108.7 crore in Q3FY25. Revenue grows 24.5% YoY to Rs 1,416.8 crore, driven by improvements in life science chemicals and performance & other chemicals segments. The company features in a screener of stocks with increasing revenue for the past four quarters.

  • B&K Securities downgrades CDSL to a 'Sell' rating with a lower target price of Rs 1,100, citing a decline in revenue from lower transaction charges, online data fees, and other income. Nuvama also reduces the target price to Rs 1,510, highlighting weak secondary market volumes and the potential negative impact on primary market activity.

  • Larsen & Toubro secures an order worth Rs 1,000-2,500 crore to build Uzbekistan's first AI-enabled and sustainable 10-megawatt data centre in Tashkent.

  • Petronet LNG is falling as its Q3FY25 net profit declines 25.7% YoY to Rs 901.7 crore due to higher employee benefits and depreciation & amortisation expenses. Revenue decreases 16.6% YoY to Rs 12,423.1 crore during the quarter. It shows up in a screener of stocks with declining revenue for the past four quarters.

  • Tata Power's wholly-owned subsidiary, Tata Power Renewable Energy, secures a contract worth Rs 455 crore from Maharashtra State Power Generation Company (MSPGCL). The contract includes supplying 300 megawatt peak (MWp) of Approved List of Models and Manufacturers (ALMM)-certified solar modules for the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 project.

  • Nakul Jain, Managing Director and CEO of Paytm Payments Services (PPSL), tenders his resignation to pursue an entrepreneurial venture. This follows Paytm's resubmission of its payment aggregator license application to the RBI after an earlier rejection over non-compliance with FDI norms.

  • Emami is rising as its net profit grows 8% YoY to Rs 279 crore in Q3FY25, helped by lower inventory expenses. Revenue increases 5.1% YoY to Rs 1,064.4 crore during the quarter, attributed to an improvement in the domestic business. It appears in a screener of stocks in the buy zone with high momentum scores.

  • Tata Steel is rising as its Q3FY25 revenue beats Forecaster estimates by 1.8% despite falling 3% YoY to Rs 53,869.3 crore due to a reduction in the Indian, South East Asian, and trade-related operations segments. Net profit declines 36.4% YoY to Rs 326.6 crore due to higher raw materials, inventory, and depreciation & amortisation expenses. It features in a screener of stocks with above-line growth and below-line valuations.

  • Union Bank of India is rising as its Q3FY25 net profit grows 28.2% YoY to Rs 4,603.6 crore. Revenue increases 6.3% YoY to Rs 26,957.9 crore, helped by improvements in the treasury, retail, and wholesale segments. The bank's asset quality improves as its gross and net NPAs decline by 98 bps YoY and 26 bps YoY, respectively.

  • Coal India is falling as its net profit declines 16% YoY to Rs 8,505.6 crore in Q3FY25, driven by higher cost of materials and contractual expenses. Revenue decreases 1% YoY to Rs 35,779.8 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Nifty 50 was trading at 22,926.35 (97.2, 0.4%), BSE Sensex was trading at 75,659 (292.8, 0.4%) while the broader Nifty 500 was trading at 20,979.20 (68.3, 0.3%).

  • Market breadth is in the green. Of the 1,984 stocks traded today, 1,105 were gainers and 841 were losers.

Riding High:

Largecap and midcap gainers today include Cholamandalam Investment & Finance Company Ltd. (1,241.70, 5.7%), Balkrishna Industries Ltd. (2,706.15, 5.5%) and Bank of India (109.51, 5.0%).

Downers:

Largecap and midcap losers today include Petronet LNG Ltd. (290.55, -6.5%), JSW Energy Ltd. (504, -5.7%) and Gujarat Fluorochemicals Ltd. (3,345, -5.5%).

Volume Rockets

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

Top high volume gainers on BSE included Jammu & Kashmir Bank Ltd. (95.71, 7.6%), Aadhar Housing Finance Ltd. (391.10, 7.4%) and Cholamandalam Investment & Finance Company Ltd. (1,241.70, 5.7%).

Top high volume losers on BSE were Anant Raj Ltd. (534.50, -20%), Apar Industries Ltd. (7,173.70, -20.0%) and Hitachi Energy India Ltd. (9,621.75, -12.0%).

Piramal Enterprises Ltd. (950.15, 3.9%) was trading at 10.0 times of weekly average. IIFL Finance Ltd. (350.05, -2.2%) and Linde India Ltd. (5,641.10, -0.7%) were trading with volumes 8.5 and 8.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

73 stocks were underachievers and hit their 52 week lows.

Stocks making new 52 weeks lows included - Bata India Ltd. (1,240.85, 0.2%) and Bharat Heavy Electricals Ltd. (187.62, -3.6%).

8 stocks climbed above their 200 day SMA including Shree Cements Ltd. (26,044.50, 3.6%) and Manappuram Finance Ltd. (190.98, 3.5%). 43 stocks slipped below their 200 SMA including Anant Raj Ltd. (534.50, -20%) and Apar Industries Ltd. (7,173.70, -20.0%).

 
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