Trendlyne Marketwatch
Trendlyne Marketwatch
19 Feb 2025
Market closes flat, Arkade Developers bags a redevelopment project with a GDV of Rs 740 crore
By Trendlyne Analysis

 

Nifty 50 closed at 22,932.90 (-12.4, -0.1%), BSE Sensex closed at 75,939.18 (-28.2, 0.0%) while the broader Nifty 500 closed at 20,731.45 (120.1, 0.6%). Market breadth is overwhelmingly positive. Of the 2,422 stocks traded today, 1,838 were gainers and 562 were losers.

Indian indices closed flat after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 1.6% and closed at 15.4 points. Rail Vikas Nigam closed 13.1% higher after securing an order worth Rs 554.5 crore from Rail Infrastructure Development Company (Karnataka) to build nine stations for the Bengaluru Suburban Rail Project.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. BSE Capital Goods and BSE Consumer Durables were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the highest-performing sector of the day, with a rise of 4.3%.

European indices are trading in the red. Major Asian indices closed mixed. US index futures are trading flat in anticipation of the rates being unchanged at the Fed meeting later today. HSBC Holdings, Analog Devices, Carvana, Manulife Financial Corp, and ENI SpA. are set to report their earnings later today.

  • Relative strength index (RSI) indicates that stocks like Carborundum Universal, Whirlpool of India, G R Infraprojects, and Atul are in the oversold zone.

  • Geojit BNP Paribas maintains its 'Buy' call on Bajaj Finance with a target price of Rs 9,521 per share. This indicates a potential upside of 12.9%. The brokerage expects the company's asset quality to remain stable and the Airtel partnership to drive customer growth. It expects the firm's net interest income (NII) to grow at a CAGR of 20.2% over FY25-27.

  • Netweb Technologies rises to its 10% upper limit as it launches Skylus.ai, a platform for managing graphics processing unit (GPU) resources across different vendors. It helps organizations optimize GPU and central processing unit (CPU) usage for artificial intelligence and generative AI workloads while reducing costs.

  • Tata Consultancy Services (TCS) partners with MassRobotics to drive robotics innovation in North America. TCS will collaborate with startups, researchers, and industry experts to explore applications across retail, travel, transportation, hospitality, and consumer goods.

  • According to NSE data, DIIs have invested Rs 1.2 lakh crore in equities since January, while FIIs sold shares worth Rs 1.1 lakh crore. Jefferies warns that the steady inflow of retail funds into India’s equity mutual funds may slow as market returns weaken, potentially impacting Asia’s fourth-largest equity market.

  • Lemon Tree Hotels surges as it signs a license agreement for a new hotel for its Red Fox by Lemon Tree Hotels property in Bhopal, Madhya Pradesh, set to open in FY27. Lemon Tree's wholly-owned subsidiary, Carnation Hotels, will manage the property.

  • Ashok Leyland secures a Rs 297.9 crore order to supply 320 BS VI diesel low-floor buses to Tamil Nadu State Transport Corp (TNSTC). The buses will feature iGen 6 BS VI technology, with deliveries scheduled between June and August 2025.

  • Anand Rathi maintains its 'Buy' call on MOIL with a target price of Rs 400 per share. This indicates a potential upside of 28.6%. The brokerage believes the company is well-positioned to capitalise on the country's steel growth owing to its strong market share, higher-quality ore, and strategic mine locations. It expects the firm's revenue to grow at a CAGR of 24.9% over FY25-27.

  • Nuvama Alternative & Quantitative Research expects Zomato and Jio Financial Services will enter the Nifty 50 in the March 2025 reshuffle, with estimated inflows of Rs 5,25,000 crore ($631 million) and Rs 2,65,000 crore ($320 million), respectively. The firm believes these stocks will replace BPCL and Britannia in the benchmark index.

  • Arkade Developers is rising as it secures the redevelopment rights for Nutan Ayojan, a co-operative housing society in Malad West, Mumbai, with an estimated gross development value (GDV) of Rs 740 crore.

  • Container Corporation of India rises as it awards a Rs 689.8 crore contract to Braithwaite & Co. to manufacture and supply 30 BLSS (spine car) rakes, with deliveries set for completion by August 11.

  • NAVA is rising as its board approves a Rs 360 crore buyback of 72 lakh equity shares at Rs 500 per share. It sets February 28 as the record date for the buyback.

  • A State Bank of India report highlights that India's economy has demonstrated resilience despite global uncertainties. SBI forecasts the GDP growth for Q3FY25 to range between 6.2-6.3%, supported by high-frequency indicators. A stable rural economy, steady wage growth, and robust agricultural performance drive the positive outlook.

  • Tata Steel is rising as it receives approval from the Neath Port Talbot Council to set up an electric arc furnace for steelmaking in Port Talbot. The company expects the facility to be operational by the end of 2027.

  • Larsen & Toubro rises as it acquires the remaining 26% stake in L&T Special Steels and Heavy Forgings from Nuclear Power Corp of India (NPCIL) for Rs 170 crore, making it a wholly-owned subsidiary.

  • Mahindra Lifespace Developers is rising as it partners with Livingstone Infra for a cluster redevelopment project in Mahalaxmi, Mumbai, with an estimated gross development value (GDV) of Rs 1,650 crore.

  • Defence stocks like DCX Systems, Zen Technologies, and Data Patterns (India) rise after Defence Secretary Rajesh Kumar Singh announced relaxations in the FDI (Foreign Direct Investment) policy and industrial licensing to boost sector growth. He also emphasizes the need for an annual expenditure of Rs 2,40,000 crore ($30 billion) over the next decade to modernise India's defence forces.

  • Aurobindo Pharma is falling sharply as it receives five observations from the US FDA following a pre-approval inspection (PAI) at Eugia Steriles in Andhra Pradesh.

  • Hexaware Technologies' shares debut on the bourses at a 5.3% premium to the issue price of Rs 708. The Rs 8,750 crore IPO received bids for 2.7 times the total shares on offer.

  • Ami Organics is rising as its board of directors schedules a meeting on February 21 to consider a proposal for the sub-division / split of equity shares.

  • Macquarie forecasts a 14% CAGR growth for the CRDMO (contract research, development, and manufacturing) sector, reaching approximately Rs 1,16,000 crore ($14 billion) by FY28. Additionally, it believes the US Biosecure Act will boost growth in the Indian CDMO sector into the late teens. The brokerage names Divi’s Labs and Suven Pharma as its top picks, citing strong margin expansion prospects. It initiates an 'Outperform' rating for both companies, setting target prices of Rs 4,700 and Rs 1,500, respectively.

  • Cipla invests ZAR 900 million (~Rs 424.9 crore) in its subsidiary, Cipla Medpro South Africa Proprietary, for 4.1 crore shares.

  • Transformers & Rectifiers (India) is rising as it secures an order worth Rs 166.5 crore from Hyosung T&D India to manufacture and supply single-phase coupling transformers and single-phase transformers for Tariff-Based Competitive Bidding (TBCB) projects.

  • Piramal Pharma is falling as it receives Form 483 with six observations from the US FDA after conducting a good manufacturing practices (GMP) inspection at its Turbhe facility.

  • Rail Vikas Nigam is rising as it secures an order worth Rs 554.5 crore from Rail Infrastructure Development Company (Karnataka) to build nine stations for the Bengaluru Suburban Rail Project. The work includes civil construction, foot overbridges, roofing, and electrical and mechanical installations.

  • Nifty 50 was trading at 22,859.25 (-86.1, -0.4%), BSE Sensex was trading at 75,640.68 (-326.7, -0.4%) while the broader Nifty 500 was trading at 20,546.65 (-64.8, -0.3%)

  • Market breadth is in the green. Of the 1,941 stocks traded today, 1,122 showed gains, and 771 showed losses.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (376.85, 13.1%), Mazagon Dock Shipbuilders Ltd. (2,180.10, 11.1%) and Suzlon Energy Ltd. (54.16, 7.0%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (864.70, -3.7%), LTIMindtree Ltd. (5,470.10, -3.5%) and Phoenix Mills Ltd. (1,554.30, -2.9%).

Movers and Shakers

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

Top high volume gainers on BSE included Bikaji Foods International Ltd. (656.15, 15.4%), Aegis Logistics Ltd. (761.30, 14.8%) and Tata Investment Corporation Ltd. (5,944.45, 13.6%).

Top high volume losers on BSE were Zydus Lifesciences Ltd. (891.45, -2.5%) and Aurobindo Pharma Ltd. (1,135.20, -2.4%).

TTK Prestige Ltd. (693.65, 2.3%) was trading at 15.8 times of weekly average. Minda Corporation Ltd. (548.05, 9.3%) and Data Patterns (India) Ltd. (1,544.85, 8.5%) were trading with volumes 9.9 and 8.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks overperformed with 52 week highs, while 36 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Kotak Mahindra Bank Ltd. (1,985, 1.1%), Shree Cements Ltd. (28,655.15, 1.0%) and UPL Ltd. (650.05, 3.1%).

Stocks making new 52 weeks lows included - Bharat Heavy Electricals Ltd. (195.09, 4.6%) and Zydus Lifesciences Ltd. (891.45, -2.5%).

17 stocks climbed above their 200 day SMA including Aegis Logistics Ltd. (761.30, 14.8%) and Mazagon Dock Shipbuilders Ltd. (2,180.10, 11.1%). 6 stocks slipped below their 200 SMA including Crisil Ltd. (4,706.70, -3.4%) and Jubilant Pharmova Ltd. (968.45, -3.4%).

 
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