Trendlyne Marketwatch
Trendlyne Marketwatch
29 Jan 2025
Market closes higher, Maruti Suzuki's board reappoints Hisashi Takeuchi as its MD & CEO
By Trendlyne Analysis

 

Nifty 50 closed at 23,163.10 (205.9, 0.9%), BSE Sensex closed at 76,532.96 (631.6, 0.8%) while the broader Nifty 500 closed at 21,245.50 (320.8, 1.5%). Market breadth is ticking up strongly. Of the 2,400 stocks traded today, 1,936 were gainers and 435 were losers.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 23,163.1 points. The Indian volatility index, Nifty VIX, rose 2.4% and closed at 18.6 points. Denta Water and Infra Solutions' shares made their debut on the bourses at a 10.5% premium to the issue price of Rs 294. The Rs 220.5 crore IPO received bids for 221.7 times the total shares on offer.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Realty and Nifty India Digital closed in the green. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 3.9%.

European indices are trading in the green, except for France’s CAC 40. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. The US Federal Reserve, meeting for the first time in 2025, will announce its policy decisions later today. Investors also look ahead to earnings releases from Microsoft, Meta, Tesla, ASML, and IBM.

  • Money flow index (MFI) indicates that stocks like Chalet Hotels, Netweb Technologies, Sanofi India, and VIP Industries are in the oversold zone.

  • Arkade Developers rises sharply as it acquires a Rs 165 crore land parcel from Aspen Properties in Goregaon West, Mumbai. The project covers over 5 lakh sq. ft. and is expected to generate Rs 2,000 crore in revenue.

  • Maruti Suzuki India's revenue rises 15.7% YoY to Rs 38,764.3 crore in Q3FY25, while its net profit grows 16.2% YoY to Rs 3,726.9 crore. The company's board of directors approves the merger of its subsidiary, Suzuki Motor Gujarat with itself. It also reappoints Hisashi Takeuchi as its Managing Director (MD) & Chief Executive Officer (CEO) for three years, effective April 1.

  • Indian Bank rises sharply as its Q3FY25 net profit grows 34.6% YoY to Rs 2,852.4 crore owing to lower provisions for nonperforming assets (NPAs) and taxes. Revenue increases 11.3% YoY to Rs 17,912 crore, led by improvements in the treasury, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 121 bps YoY and 32 bps YoY, respectively.

  • Nestle is set to announce its Q3FY25 results on Friday, January 31. Motilal Oswal expects a 5% YoY sales growth driven by improved demand. However, the brokerage forecasts a slight decline in gross profit and EBITDA margins due to higher raw material costs. Gross profit for Q3 is projected at Rs 2,802.3 crore, down from Rs 2,845.2 crore last year.

  • Triveni Turbine is rising as it secures a Rs 290 crore order from NTPC for a 160 megawatt-hour (MWh) CO2-based standalone energy storage system (ESS) at NTPC Kudgi in Karnataka.

  • Mahindra & Mahindra Financial Services is rising as its net profit grows 47.4% YoY to Rs 917.6 crore in Q3FY25, helped by lower impairment on financial instruments. Revenue increases 16% YoY to Rs 4,799.5 crore, attributed to an improvement in financing activities. It features in a screener of stocks with rising revenue over the past eight quarters.

  • Piramal Pharma rises as its revenue grows 12.5% YoY to Rs 2,204.2 crore in Q3FY25. However, net profit falls 63.6% YoY to Rs 3.7 crore due to a 6.8X increase in tax expenses. The company features in a screener of stocks underperforming their industry price change over the past quarter.

  • India's fiscal deficit is estimated at 5.6% for FY24, with the government aiming to reduce it to 4.9% in FY25 and further lower it to below 4.5% by FY27. Ravi Singh, Senior VP at Religare Broking, notes that a 4.5% fiscal deficit target announcement could boost the stock market, as it reflects fiscal consolidation while allowing for essential capital expenditures.

  • Bosch falls sharply as its net profit declines 11.5% YoY to Rs 458.7 crore in Q3FY25 due to higher raw materials, inventory, employee benefits, and finance costs. However, revenue grows 6.8% YoY to Rs 4,654.7 crore, helped by improvements in the automotive products and consumer goods segments. It shows up in a screener of stocks with prices below short, medium, and long-term averages.

  • GMR Airports is rising as it posts a net profit of Rs 266.8 crore in Q3FY25, compared to a net loss of Rs 317.5 crore in Q3FY24, driven by improvements in asset value changes, property tax, and interest waiver. Revenue increases 19.2% YoY to Rs 2,653.2 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Star Health and Allied Insurance falls as its Q3FY25 net profit falls 25.7% YoY to Rs 215.1 crore due to higher commission & brokerage and claims paid. Revenue grows 15.6% YoY to Rs 4,001.2 crore, helped by increased retail and corporate health premiums. The company appears in a screener of stocks near their 52-week low.

  • ITC Hotels lists Rs 180 on NSE, in line with analyst estimates. Nuvama's analysis of ITC Hotels' demerger highlights its inclusion in the MSCI Global Small Cap indices as a significant milestone. The brokerage expects this to enhance the company's visibility among global investors and attract more fund inflows.

  • JSW Infrastructure rises sharply as its net profit grows 31.6% YoY to Rs 329.8 crore in Q3FY25 owing to lower employee benefits expenses and a Rs 124.7 crore deferred tax return. Revenue increases 24.3% YoY to Rs 1,265.3 crore, driven by improvements in the ports and logistics segments. It features in a screener of stocks where FIIs increased their shareholding.

  • KPI Green Energy rises to its 5% upper limit as it signs a memorandum of understanding (MoU) with the Government of Odisha to establish Renewable Energy Parks in Ganjam district, Odisha.

  • Denta Water and Infra Solutions' shares debut on the bourses at a 10.5% premium to the issue price of Rs 294. The Rs 220.5 crore IPO received bids for 221.7 times the total shares on offer.

  • Arun Mishra, CEO of Hindustan Zinc, expects zinc prices to range between $2,850-2,950 per tonne and silver prices at around $30-31 per ounce. He projects the company’s FY25 silver volumes at approximately 700 tonnes and zinc volumes to grow by 3% YoY. Mishra projects a decrease in production costs due to a higher share of renewable energy in the power mix.

  • JSW Energy falls sharply as its Q3FY25 net profit declines 27.4% YoY to Rs 167.8 crore due to higher fuel, employee benefits, finance, and depreciation & amortisation expenses. Revenue decreases 0.8% YoY to Rs 2,640 crore, caused by a reduction in the thermal and renewables businesses. It shows up in a screener of stocks where promoters are increasing pledged shares QoQ.

  • Va Tech Wabag is rising as it secures a $14 million (approximately Rs 121 crore) contract from BAPCO Refining to operate and maintain an industrial wastewater treatment plant in Bahrain for seven years.

  • Bharat Heavy Electricals rises sharply as its net profit surges 123.3% YoY to Rs 134.7 crore in Q3FY25, attributed to inventory destocking and lower finance costs. Revenue grows 31.9% YoY to Rs 7,385 crore, led by an improvement in the power and industry segments. It appears in a screener of stocks with consistently highest returns over the past five years.

  • Jefferies maintains a 'Buy' rating on ITC with a target price of Rs 550. The brokerage suggests the upcoming union budget will be crucial for tobacco taxation. It believes a 5-9% tax hike would be challenging but manageable for the company through a 3-4% price increase. Jefferies also notes that tobacco taxes were last adjusted in 2023, increasing by 2% per stick.

  • L&T Technology Services is rising as it secures a multiyear, $80 million (approximately Rs 692 crore) deal with a US-based manufacturer of industrial products and solutions. The contract involves setting up a Center of Excellence (CoE) in India to support digital transformation and product lifecycle management.

  • Home First Finance Company India's board of directors approves raising funds worth up to Rs 1,250 crore through a qualified institutional placement (QIP) of equity shares.

  • Bajaj Auto rises sharply as its Q3FY25 net profit grows 8% YoY to Rs 2,195.7 crore, helped by inventory destocking. Revenue increases 7.9% YoY to Rs 13,516.4 crore, driven by improvements in the automotive, investment, and financing segments. It features in a screener of stocks with strong QoQ earnings per share (EPS) growth.

  • Suzlon Energy is rising as its net profit grows 90.6% YoY to Rs 386.9 crore in Q3FY25, beating Forecaster estimates by 20.1%. Revenue increases 90.7% YoY to Rs 2,974.8 crore, driven by higher sales from wind turbine generators, foundry & forging, and operation & maintenance service segments during the quarter. It features in a screener of stocks with increasing revenue every quarter for the past two quarters.

  • Nifty 50 was trading at 23,033.10 (75.9, 0.3%) , BSE Sensex was trading at 76,138.24 (236.8, 0.3%) while the broader Nifty 500 was trading at 21,008.85 (84.1, 0.4%)

  • Market breadth is highly positive. Of the 1,912 stocks traded today, 1,425 were gainers and 446 were losers.

Riding High:

Largecap and midcap gainers today include Linde India Ltd. (6,260, 10.9%), CG Power and Industrial Solutions Ltd. (625.75, 8.8%) and Zomato Ltd. (222.50, 6.9%).

Downers:

Largecap and midcap losers today include JSW Energy Ltd. (474.75, -5.8%), Bosch Ltd. (28,155.70, -5.5%) and Ambuja Cements Ltd. (522.10, -3.9%).

Volume Rockets

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

Top high volume gainers on BSE included Inox Wind Ltd. (161.50, 19.7%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,296.55, 15.9%) and Gujarat Mineral Development Corporation Ltd. (322.40, 13%).

Top high volume losers on BSE were Jupiter Wagons Ltd. (363, -8.3%), JSW Energy Ltd. (474.75, -5.8%) and Bosch Ltd. (28,155.70, -5.5%).

Kansai Nerolac Paints Ltd. (237.45, 2.6%) was trading at 10.4 times of weekly average. JM Financial Ltd. (108.69, 1.5%) and NMDC Steel Ltd. (41.37, 8.4%) were trading with volumes 9.4 and 9.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock hit their 52 week highs, while 10 stocks were underachievers and hit their 52 week lows.

Stock touching their year highs included - JK Cement Ltd. (4,886, 1.1%).

Stocks making new 52 weeks lows included - Bharat Heavy Electricals Ltd. (199.86, 6.5%) and Nestle India Ltd. (2,180.70, 1.1%).

31 stocks climbed above their 200 day SMA including Lemon Tree Hotels Ltd. (139.01, 6.4%) and Kaynes Technology India Ltd. (4,955.45, 6.3%). 5 stocks slipped below their 200 SMA including Poly Medicure Ltd. (2,269.10, 0.2%) and 360 One Wam Ltd. (1,021.55, 0.8%).

 
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