Trendlyne Marketwatch
Trendlyne Marketwatch
18 Feb 2025
Market closes flat, KIMS signs a 7-year agreement with UAIMS Hospital to provide medical services
By Trendlyne Analysis

 

 

Nifty 50 closed at 22,945.30 (-14.2, -0.1%) , BSE Sensex closed at 75,967.39 (-29.5, 0.0%) while the broader Nifty 500 closed at 20,611.40 (-41.0, -0.2%). Market breadth is sharply down. Of the 2,410 stocks traded today, 489 showed gains, and 1,893 showed losses.

Indian indices closed flat, with the benchmark Nifty 50 index closing at 22,945.3 points. The Indian volatility index, Nifty VIX, fell 0.4% and closed at 15.7 points. Bharti Airtel closed lower as its promoter, Indian Continent Investment, sold 5.1 crore shares (0.9% stake) worth Rs 8,475 crore through a block deal.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Consumer Durables and Nifty Auto closed lower. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the worst-performing sector of the day, with a fall of 4.4%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session. Southwest Airlines announced plans to cut about 15% of corporate jobs, marking its first major layoff, as part of its cost-cutting efforts. Arista Networks, Medtronic, Occidental Petroleum, and Baidu are set to report their earnings later today.

  • Money flow index (MFI) indicates that Godfrey Phillips India is in the overbought zone.

  • Zomato is rising as it launches Nugget, an AI-based customer support platform. Developed in-house over three years, it helps businesses automate customer support cost-effectively without the need for complex workflows or development teams. The platform resolves up to 80% of queries and improves responses as it learns.

  • TVS Supply Chain Solutions rises sharply as TVS Motor buys a stake following Allanzers Fin Net's sale of 20 lakh shares at Rs 128.9 per share in a block deal.

  • Pradeep Kheruka, Executive Chairman of Borosil Renewables, highlights that the company's Q3FY25 EBITDA declined primarily due to lower sales realization. However, he believes that the provisional duty received from the Government on December 5 will help improve Q4FY25 margins to around 25-30%.

  • Axis Direct retains its 'Buy' call on Kalpataru Projects International with a lower target price of Rs 1,350 per share. This indicates a potential upside of 49.4%. The brokerage believes the company is well-positioned for revenue and margin growth owing to strong order execution and growth across all segments. It expects the firm's revenue to grow at a CAGR of 18.2% over FY25-27.

  • Biocon's subsidiary, Biocon Biologics, receives marketing authorization in the European Union (EU) for Yesintek, a biosimilar of Ustekinumab, used to treat adults with psoriatic arthritis or Crohn’s disease. The European market for this drug is valued at approximately €2.5 billion (around Rs 22,749 crore).

  • LTIMindtree is rising as it partners with Eurobank for a multi-year banking technology programme. The collaboration aims to streamline operations and innovate IT solutions for Eurobank and its subsidiaries, with LTIMindtree providing support services and modernising technology in Cyprus, Luxembourg, and Greece.

  • Pankaj Gadgil, Managing Director & CEO of Aditya Birla Housing Finance, highlights that the company is exploring ways to pass on rate cut benefits to consumers, though the process is complex. Operational efficiencies may reduce costs, but rising credit expenses could offset savings. The company’s borrowings comprise 35% term loans, 39% NCDs, 14% NHB, and a small share of the short-term money market. Gadgil adds that banks need to lower their rates so that housing finance firms can benefit from a repo rate cut.

  • One97 Communications (Paytm) partners with SBI Mutual Fund to launch JanNivesh Rs 250 systematic investment plan (SIP), offering flexible contribution options (daily, weekly, or monthly) to meet diverse financial needs and preferences for investors.

  • Anant Raj's wholly owned subsidiary, Anant Raj Cloud, signs an agreement with CSC Data Services (CDSIL) to jointly offer and promote Rack Rental Business (Co-location Data Center) and Cloud Services to various government departments and private organizations.

  • Choice International's subsidiary, Choice Equity Broking, acquires a 100% stake in Arete Capital Services. Arete Capital is a wealth management firm with assets under management (AUM) of Rs 5,151 crore, helping Choice Equity's AUM to increase 5.7x to Rs 6,241 crore.

  • The Ministries of Heavy Industries (MHI) and New & Renewable Energy (MNRE) award the PLI scheme for advanced chemistry cells to Reliance Industries' arm, Reliance New Energy Battery, for 10 GWH ACC capacity. The PLI-ACC scheme, launched in 2021 with a budget of Rs 18,100 crore, aims to establish 50 GWh of ACC battery manufacturing capacity in India.

  • Bharti Airtel is falling as its promoter, Indian Continent Investment, sells 5.1 crore shares (0.9% stake) worth Rs 8,475 crore in a block deal.

  • Ventura maintains its 'Buy' call on Indus Towers with a higher target price of Rs 450 per share. This indicates a potential upside of 35.4%. The brokerage expects the company's revenue to grow due to new tower additions, improved collections, and continued network expansion. It expects the firm's revenue to grow at a CAGR of 10.4% over FY25-27.

  • GMR Airports is rising as its passenger traffic increases 11% YoY to 1.1 crore in January, while aircraft movements grow by 9% YoY to 63,767.

  • Titan is reportedly in talks with Qatar's Mannai Corporation to acquire a major stake in Damas Jewellery, a leading retailer in West Asia. The discussions are focused on Damas's valuation, estimated at Rs 4,500 crore (around $518 million), but the two parties have not yet agreed on terms.

  • Krishna Institute of Medical Sciences (KIMS) signs a seven-year operations and management agreement with Ushahkal Abhinav Institute of Medical Sciences (UAIMS Hospital) in Sangli, Maharashtra. KIMS will exclusively provide medical services for the hospital’s current and future operations.

  • Power Grid Corp of India secures two interstate transmission projects on a build, own, operate, and transfer (BOOT) basis. The first project in Karnataka includes new pooling substations in Davangere, Chitradurga, and Bellary, along with transmission lines and upgrades. The second project in Rajasthan involves ICT augmentation at substations in Fatehgarh-II, Fatehgarh-IV, and Barmer-I.

  • Zaggle Prepaid Ocean Services enters a five-year strategic partnership with Redington to develop employee benefits solutions for its corporate clients.

  • Zen Technologies declines over 10% as Chairman & MD Ashok Alturi maintains his FY25 revenue guidance of Rs 900 crore. However, he expresses confidence in achieving an EBITDA margin of 35% and a PAT margin of 25% for FY25. Alturi adds that the acquisition of Applied Research International (ARI) would result in its revenue doubling to Rs 180 crore in three years, up from Rs 90 crore.

  • Patel Engineering's joint venture (JV) secures an order worth Rs 1,090.5 crore from Maharashtra Krishna Valley Development Corporation, Pune, to build a pipeline distribution network for the Nira Deoghar Right Bank Main Canal and its branches. The project includes excavation, refilling, laying pipes, installing valves and chambers, testing the pipeline, and a five-year operations and maintenance period after completion.

  • Uno Minda is rising as it forms a joint venture (JV) with Uno Minda Auto Innovations, Suzhou lnovance Automotive, and lnovance Automotive (HK) Investment to manufacture powertrain components for electric passenger and commercial vehicles.

  • SBI Cards and Payment Services' board appoints Salila Pande as the new Managing Director (MD) and Chief Executive Officer (CEO), succeeding Abhijit Chakravorty, for two years, effective April 1.

  • ABB India rises sharply as its Q3FY25 net profit jumps 56% YoY to Rs 528.4 crore, helped by inventory destocking and lower finance costs. Revenue grows 22% YoY to Rs 3,364.9 crore, driven by improvements in the robotics & discrete automation, motion, and electrification segments. It features in a screener of stocks with increasing return on equity (RoE) over the past two years.

  • Nifty 50 was trading at 22,915.90 (-43.6, -0.2%), BSE Sensex was trading at 75,968.59 (-28.3, 0.0%) while the broader Nifty 500 was trading at 20,621.05 (-31.3, -0.2%).

  • Market breadth is even. Of the 1,952 stocks traded today, 976 were on the uptrend, and 925 went down.

Riding High:

Largecap and midcap gainers today include Adani Wilmar Ltd. (256.25, 8.7%), GlaxoSmithKline Pharmaceuticals Ltd. (2,536.85, 8.4%) and Thermax Ltd. (3,211.75, 6.7%).

Downers:

Largecap and midcap losers today include Mazagon Dock Shipbuilders Ltd. (1,961.75, -5.8%), Hindustan Aeronautics Ltd. (3,344.60, -3.8%) and Au Small Finance Bank Ltd. (502.40, -3.8%).

Movers and Shakers

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

Top high volume gainers on BSE included Gillette India Ltd. (8,229.85, 10.4%), NLC India Ltd. (226.87, 9.0%) and GlaxoSmithKline Pharmaceuticals Ltd. (2,536.85, 8.4%).

Top high volume losers on BSE were Usha Martin Ltd. (291, -4.7%), RHI Magnesita India Ltd. (382.60, -4.2%) and ACC Ltd. (1,874.45, -1.9%).

ABB India Ltd. (5,142.05, -1.9%) was trading at 12.7 times of weekly average. Syngene International Ltd. (700.40, -0.1%) and Five-Star Business Finance Ltd. (693.50, 1.2%) were trading with volumes 6.9 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

83 stocks were underachievers and hit their 52 week lows.

Stocks making new 52 weeks lows included - ACC Ltd. (1,874.45, -1.9%) and Bharat Heavy Electricals Ltd. (186.57, -3.6%).

8 stocks climbed above their 200 day SMA including Gillette India Ltd. (8,229.85, 10.4%) and GlaxoSmithKline Pharmaceuticals Ltd. (2,536.85, 8.4%). 9 stocks slipped below their 200 SMA including PTC Industries Ltd. (10,734.65, -10%) and Mazagon Dock Shipbuilders Ltd. (1,961.75, -5.8%).

 
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