Trendlyne Marketwatch
Trendlyne Marketwatch
17 Feb 2025
Market closes flat, EMS bags an order worth Rs 273 crore for civil and MEP works
By Trendlyne Analysis

 

Nifty 50 closed at 22,959.50 (30.3, 0.1%), BSE Sensex closed at 75,996.86 (57.7, 0.1%) while the broader Nifty 500 closed at 20,652.35 (19.3, 0.1%). Market breadth is overwhelmingly negative. Of the 2,445 stocks traded today, 745 were on the uptick, and 1,673 were down.

Indian indices closed flat, with the benchmark Nifty 50 index closing at 22,959.5 points. The Indian volatility index, Nifty VIX, rose 4.7% and closed at 15.7 points. Cyient DLM fell by more than 3%, despite securing a long-term contract from Thales to manufacture high-reliability printed circuit board assemblies (PCBAs) for next-generation flight systems. These PCBAs will be used in major commercial aircraft platforms.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat, following the benchmark index. Nifty MidSmall Healthcare and Nifty Healthcare index were among the top index gainers today. According to Trendlyne’s Sector dashboard, Pharmaceuticals & Biotechnology emerged as the best-performing sector of the day, with a rise of 1.4%.

Asian indices closed mixed, while European indices are trading higher. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the green. Several Fed officials, including Patrick Harker and Michelle Bowman, are set to speak this week following mixed US inflation data last week. Investor sentiment will be largely influenced by rising geopolitical tensions, particularly US-Russia talks on the Ukraine conflict.

  • Relative strength index (RSI) indicates that stocks like Whirlpool of India, Kirloskar Oil Engines, and Atul are in the oversold zone.

  • Utkarsh Small Finance Bank plunges to its all-time high of Rs 23.9 per share as it posts a net loss of Rs 168.1 crore compared to a net profit of Rs 116.1 crore in Q3FY24 due to higher provisions, employee benefits, and interest expenses. However, revenue grows 15.7% YoY to Rs 932.4 crore, helped by improvements in the treasury, retail and corporate banking segments. The bank's asset quality worsens as its gross and net NPAs grow 313 bps YoY and 231 bps YoY, respectively.

  • Zen Technologies plunges to its 20% lower circuit as its Q3FY25 revenue misses Forecaster estimates by 42.3% despite rising 44% YoY to Rs 141.5 crore, helped by an improvement in the defence & homeland segment. Net profit grows 21.8% YoY to Rs 38.6 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • EMS is rising as it secures an order worth Rs 272.9 crore from Jaypee Infratech for civil and mechanical, electrical, & plumbing (MEP) works in the "Orchards" housing project at Jaypee Wish Town, Noida.

  • CG Power and Industrial Solutions rises more than 5% after emerging as the highest bidder for the proposed acquisition of 90% of the equity shares in BTW-Atlanta Transformers India (BTW India) from Baoding Tianwei Baobian Electric, China. The offer, valued at around Rs 165 crore, was part of an online bidding process conducted by the China Beijing Stock Exchange.

  • Gujarat Narmada Valley Fertilizers & Chemicals' Q3FY25 net profit grows 68% YoY to Rs 163 crore, owing to lower raw materials, inventory, power & fuel, employee benefits, and finance costs. However, revenue declines 6.9% YoY to Rs 2,056 crore, attributed to a reduction in the fertilisers segment. It appears in a screener of stocks outperforming their industries over the past month.

  • Cyient DLM wins a long-term contract from Thales to produce high-reliability printed circuit board assemblies (PCBAs) for next-generation flight systems. These PCBAs will be deployed in leading commercial aircraft platforms.

  • Uflex is rising as it posts a net profit of Rs 136.8 crore in Q3FY25 compared to a net loss of Rs 67.2 crore in Q3FY24, driven by an exceptional items gain of Rs 31 crore and inventory destocking. Revenue increases 12.9% YoY to Rs 3,734.7 crore during the quarter, supported by higher sales from the flexible packaging activities segment. The company appears in a screener of stocks with increasing profits every quarter for the past three quarters.

  • An SBI report suggests that even with a 15-20% hike in US tariffs, Indian exports to the US will likely decline only 3-3.5%. The bank believes higher export targets can offset this. While the US remains India's top export market (17.7% of total exports in FY24), India is diversifying to reduce reliance on any sing

  • Aditya Birla Fashion & Retail rises sharply as its Q3FY25 net loss contracts 34.1% YoY to Rs 51.3 crore, helped by lower raw materials and inventory expenses. Revenue grows 3.6% YoY to Rs 4,361.8 crore, attributed to improvements in the Madura Fashion & Lifestyle and ethnic segments. It appears in a screener of stocks with the highest FII holdings.

  • Narayana Hrudayalaya's net profit grows 2.6% YoY to Rs 193 crore in Q3FY25. Revenue increases 13.6% YoY to Rs 1,366.7 crore, helped by an improvement in the medical & healthcare-related services segment. The company shows up in a screener of stocks with growing costs YoY from long-term projects.

  • GlaxoSmithKline Pharmaceuticals surges as its Q3FY25 net profit jumps 5x YoY to Rs 229.9 crore, helped by lower employee benefits and finance costs. Revenue grows 18.1% YoY to Rs 984.5 crore, led by increased market share in brands like Augmentin, Ceftum & T-bact and higher sales in the respiratory & vaccines segments. It appears in a screener of stocks with dividend yields greater than the sector dividend yield.

  • Reports suggest that Tata Consultancy Services (TCS) plans to implement its annual salary hikes in March, with payouts starting in April. The increases will likely range from 4% to 8%. These hikes will follow the company’s quarterly variable pay (QVP) distribution in February for the October-December period.

  • Welspun Corp secures orders worth Rs 3,000 crore in the United States to supply coated pipes for natural gas pipeline projects. These include two large orders for helical submerged arc welded (HSAW) pipes and additional orders for high-frequency induction welded (HFIW) pipes.

  • Arvind SmartSpaces signs a new residential plotted development project in Sanand, Ahmedabad. The company expects the project to generate nearly Rs 600 crore in total revenue.

  • Axis Direct upgrades Manappuram Finance to 'Buy' from 'Hold' with a higher target price of Rs 220 per share. This indicates a potential upside of 17.2%. The brokerage expects slower assets under management (AUM) growth in FY25. However, it expects growth to resume in FY26, supported by the lifting of restrictions on microfinance institution (MFI) disbursements and high demand in the gold loans segment. It expects the firm's net interest income (NII) to grow at a CAGR of 14.6% over FY25-27.

  • Nomura initiates a 'Buy' rating on Afcons Infrastructure with a target price of Rs 561. The brokerage highlights the company’s track record of timely project completion and steady profitability. It notes consistent financial performance and anticipates a 22% revenue CAGR from FY25-27, driven by strong ordering momentum.

  • Ajax Engineering’s shares debut on the bourses at an 8.4% discount to the issue price of Rs 629. The Rs 1,269.3 crore IPO received bids for 6.5 times the total shares on offer.

  • Bharat Heavy Electricals receives a letter of intent (LoI) worth Rs 6,700 crore from Singareni Collieries (SCCL) to set up an 800 MW thermal power unit in Telangana. The order involves supplying, installing, testing, and commissioning a boiler, turbine, generator, flue gas desulfurization system, and other related equipment.

  • Dilip Buildcon is rising as its net profit grows 7.3% YoY to Rs 115.3 crore in Q3FY25, led by a reduction in raw material costs. However, revenue declines 9.3% YoY to Rs 2,633 crore, impacted by the engineering, procurement, & construction (EPC) projects and road infrastructure maintenance segments. It features in a screener of stocks with improving net cash flow over the past two years.

  • Jefferies maintains a 'Buy' rating on Samvardhana Motherson International with a target price of Rs 165. The brokerage highlights that the company's EBITDA margins exceeded expectations and notes its expansion into non-auto sectors like electronics and space. It adds that the company is finding attractive inorganic growth opportunities.

  • PTC Industries is falling as its net profit misses Forecaster estimates by 19.3% despite rising 76.2% YoY to Rs 14.2 crore in Q3FY25 due to inventory destocking and lower finance costs. Revenue increases 20.7% YoY to Rs 66.9 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Swan Energy is rising as its Q3FY25 net profit surges 5.1x YoY to Rs 582.8 crore, helped by inventory destocking and lower finance costs. Revenue jumps 128.3% YoY to Rs 3,776.6 crore, attributed to improvements in the construction and distribution & development segments. It appears in a screener of undervalued growth stocks.

  • Rail Vikas Nigam is falling as its net profit declines 13.1% YoY to Rs 311.4 crore in Q3FY25 due to higher operating expenses and finance costs. Revenue decreases 2.6% YoY to Rs 4,567.4 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Glenmark Pharmaceuticals is falling as its Q3FY25 net profit of Rs 348 crore misses Forecaster estimates by 6%. Revenue grows 35.1% YoY to Rs 3,387.6 crore, driven by improvements in the US, Indian, European, and rest of the world (ROW) markets. It features in a screener of stocks with zero promoter pledges.

  • Nifty 50 was trading at 22,803.45 (-125.8, -0.6%), BSE Sensex was trading at 75,641.41 (-297.8, -0.4%) while the broader Nifty 500 was trading at 20,530 (-103.1, -0.5%).

  • Market breadth is sharply down. Of the 2,052 stocks traded today, 584 were on the uptick, and 1,400 were down.

Riding High:

Largecap and midcap gainers today include GlaxoSmithKline Pharmaceuticals Ltd. (2,340.25, 16.0%), CG Power and Industrial Solutions Ltd. (583, 5.6%) and Ashok Leyland Ltd. (223.61, 4.6%).

Downers:

Largecap and midcap losers today include PB Fintech Ltd. (1,494.35, -5.1%), Rail Vikas Nigam Ltd. (342.45, -4.9%) and Mazagon Dock Shipbuilders Ltd. (2,083.10, -3.8%).

Movers and Shakers

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

Top high volume gainers on BSE included GlaxoSmithKline Pharmaceuticals Ltd. (2,340.25, 16.0%), Manappuram Finance Ltd. (193.29, 8.5%) and Piramal Pharma Ltd. (199.88, 8.1%).

Top high volume losers on BSE were PTC Industries Ltd. (11,945, -8.7%), Radico Khaitan Ltd. (1,950, -4.6%) and Carborundum Universal Ltd. (970, -4.4%).

Nuvoco Vistas Corporation Ltd. (319.50, 2.5%) was trading at 6.2 times of weekly average. Jubilant Pharmova Ltd. (995.45, 5.3%) and Ramkrishna Forgings Ltd. (644.30, 1.9%) were trading with volumes 5.1 and 5.0 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 128 stocks were underachievers and hit their 52 week lows.

Stock touching their year highs included - Redington Ltd. (242.91, -1.0%).

Stocks making new 52 weeks lows included - 3M India Ltd. (26,799.90, 0.2%) and Alembic Pharmaceuticals Ltd. (815, -0.4%).

5 stocks climbed above their 200 day SMA including Godfrey Phillips India Ltd. (7,038, 17.3%) and Manappuram Finance Ltd. (193.29, 8.5%). 26 stocks slipped below their 200 SMA including KFIN Technologies Ltd. (825.70, -10.7%) and PTC Industries Ltd. (11,945, -8.7%).

 
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