Trendlyne Marketwatch
Trendlyne Marketwatch
27 Feb 2025
Market closes flat, SpiceJet reports a net profit of Rs 20.4 crore in Q3FY25
By Trendlyne Analysis

 

 

Nifty 50 closed at 22,545.05 (-2.5, 0.0%) , BSE Sensex closed at 74,612.43 (10.3, 0.0%) while the broader Nifty 500 closed at 20,315.55 (-103.2, -0.5%). Market breadth is highly negative. Of the 2,428 stocks traded today, 397 were gainers and 2,004 were losers.

Nifty 50 closed flat after paring gains from the morning session. The Indian volatility index, Nifty VIX, fell 3% and closed at 13.3 points. Companies like Polycab, KEI Industries, and Havells India plunged after UltraTech Cement announced its entry into the wires and cables business with a Rs 1,800 crore investment over two years.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Media and Nifty Alpha 50 Indices were among the top index losers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 4.1%.

Asian indices closed mixed. European indices are trading lower, except for the UK’s FTSE 100, which is trading higher. US index futures are trading higher, indicating a positive start to the trading session as investors assess quarterly earnings from Nvidia and look ahead to Dell’s results today. Brent crude futures are trading higher as supply concerns grew after Trump revoked Chevron's Venezuela license, affecting its 240,000 barrel per day exports, over a quarter of the country's output.

  • Nestle India sees a long buildup in its February 27 futures series, with open interest increasing by 45% and a put-call ratio of 0.4.

  • ITC is falling as 30.8 crore shares, worth Rs 123.9 crore, reportedly change hands in a block deal at an average price of Rs 401.7 per share.

  • Zydus Wellness falls as its subsidiary, Zydus Wellness Products (ZWPL), receives a GST demand of Rs 56.3 crore from the tax authority. The demand relates to Heinz India's acquisition of intellectual property rights from Heinz Italia S.P.A., now merged with ZWPL.

  • SpiceJet is falling as its Q3FY25 revenue decreases 35.4% YoY to Rs 1,237 crore due to lower contribution from the air transport services, and freighter & logistics services segments. However, it posts a net profit of Rs 20.4 crore in Q3FY25 compared to a net loss of Rs 298.6 crore in Q3FY24, driven by strong passenger demand and improved operational efficiency. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Morgan Stanley reiterates its ‘Overweight’ stance on Titagarh Rail Systems but cuts the target price to Rs 1,090 from Rs 1,300. The brokerage believes that limited freight wheelset supply from Indian Railways may impact earnings. In addition, Vande Bharat passenger projects are facing a nine-month delay due to design changes. This poses near-term execution challenges for Titagarh’s revenue growth.

  • Lemon Tree Hotels signs a license agreement for Lemon Tree Resort in Shirdi, Maharashtra. The hotel, managed by its subsidiary Carnation Hotels, will feature 50 rooms and is expected to open in FY28.

  • BNP Geojit Paribas retains its 'Buy' call on ZF Commercial Vehicle Control System with a lower target price of Rs 13,082 per share. This indicates a potential upside of 20.5%. The brokerage believes the company will grow in the long term owing to economic growth, a wider portfolio, and the government's push on infrastructure development. It expects the firm's revenue to grow at a CAGR of 17.5% over FY25-27.

  • Utkarsh Small Finance Bank's board of directors approves raising Rs 750 crore by issuing equity shares through a qualified institutional placement (QIP) or other securities.

  • NSE data shows Nifty 50 promoters offloaded stakes at a record pace, with ownership hitting a 22-year low of 41.1% in Q3FY25. Many sold as valuations peaked, booking profits before a market correction, with Cipla and Tata Motors seeing the steepest declines.

  • Nuvama Wealth Management falls sharply as Blackstone-backed PE firm PAG reportedly considers options to exit its majority stake of over 54%, valued at $1.2 billion.

  • Emkay reportedly maintains its 'Buy' call on SRF with a target price of Rs 3,250 per share. This indicates a potential upside of 14.3%. The brokerage remains positive on the company as it expects a recovery in the specialty chemicals business due to the stabilisation of existing products.

  • Mastek secures multiple contracts worth $85 million (approximately Rs 741 crore) from a UK public service department. These two-year contracts extend and expand the company’s existing collaboration to improve the department’s digital, data, and technology services.

  • George Alexander, Managing Director of Muthoot Finance, says the opening of new branches will help improve loan growth for the company. He projects an AUM growth of 25-30% in the near term, as well as a 50-60bps reduction in cost of funds for its Belstar business. Muthoot Finance received approval from the Reserve Bank of India to open 115 new branches across India on Wednesday.

  • Godrej Properties sells over 1,398 homes worth Rs 1,000 crore in its newly launched Pune project, Godrej Evergreen Square. The project spans 2.4 million sq. ft. and has an estimated revenue potential of Rs 2,045 crore.

  • Ceigall India is falling as the National Highways Authority of India (NHAI) terminates its Rs 1,071 crore contract for the four-lane Greenfield Amritsar connectivity project.

  • RailTel Corp's consortium bags two orders worth Rs 168.1 crore from the South Central Railway for signalling and communication work related to the provision of an automatic block signalling system from Errupalem to Vijayawada and Innandalur to Renigunta.

  • Bharti Airtel is in discussions with the Tata Group to explore a potential merger between Tata Play’s direct-to-home (DTH) business and Bharti Telemedia. Reports suggest the merger will be via a share swap, boosting Airtel’s non-mobile revenues. Airtel will own 52-55%, while Tata Play shareholders, including Disney, will hold 45-48%.

  • L&T Finance, Bajaj Finance, Shriram Finance, Cholamandalam Investment, and other NBFC stocks rise after the Reserve Bank of India reverses the November 2023 rule imposing an additional 25% risk weight on bank loans. The move reduces capital requirements for lenders, potentially boosting their lending capacity for consumer loans.

  • Paytm partners with Perplexity to add AI-powered search in its app. Users can ask financial questions, explore topics in local languages, and get real-time insights. This move aligns with Paytm’s efforts to expand AI use in digital payments.

  • Varun Beverages falls sharply as it delays the acquisition of SBC Beverages Ghana, valued at $15.1 million (~ RS 1,271 crore), to March 31 from February 28 due to pending regulatory approvals.

  • Ultratech Cement announces its foray into the wires and cables (W&C) segment, investing Rs 1,800 crore to set up a plant in Gujarat over the next two years. CLSA expects the new segment to drive 4x-5x revenue growth with 11-13% margins. The brokerage anticipates that rising competition may hurt sector profitability. It also expects UltraTech to prioritize wires over cables in its new venture.

  • Prestige Estates Projects is falling as the Income Tax Department conducts a search at its registered and branch offices.

  • Glenmark Pharmaceuticals launches epinephrin injection United States Pharmacopeia (USP) multiple dose vials. The injection is a bioequivalent and therapeutically equivalent to BPI Labs' reference listed drug, Epinephrine Injection USP. It has a market size of $42.7 million for the year ending December 2024, according to IQVIA.

  • Jupiter Wagons' specialised wheelset manufacturing arm, Jupiter Tatravagonka Railwheel, secures a contract worth Rs 255 crore from Braithwait & Co. to supply 9,140 wheelsets of 840 mm diameter for 25-tonne axle load applications.

  • Adani Green Energy is rising as its subsidiary, Adani Saur Urja, bags an order from Uttar Pradesh Power Corp (UPPCL) to procure 1,250 MW energy storage capacity from pumped hydro storage projects.

  • Nifty 50 was trading at 22,588.70 (41.2, 0.2%), BSE Sensex was trading at 74,706.60 (104.5, 0.1%) while the broader Nifty 500 was trading at 20,432.15 (13.4, 0.1%).

  • Market breadth is in the red. Of the 1,958 stocks traded today, 807 were gainers and 1,087 were losers.

Riding High:

Largecap and midcap gainers today include Au Small Finance Bank Ltd. (556.70, 6.2%), Shriram Finance Ltd. (606.80, 5.7%) and Cholamandalam Investment & Finance Company Ltd. (1,438.65, 5.2%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (4,679.55, -18.8%), Havells India Ltd. (1,451.25, -6.2%) and Varun Beverages Ltd. (448.30, -5.9%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included CreditAccess Grameen Ltd. (971.45, 12.1%), Aether Industries Ltd. (817.75, 6.3%) and Cholamandalam Investment & Finance Company Ltd. (1,438.65, 5.2%).

Top high volume losers on BSE were KEI Industries Ltd. (2,999.05, -21.0%), R R Kabel Ltd. (890.55, -19.8%) and Polycab India Ltd. (4,679.55, -18.8%).

Kirloskar Brothers Ltd. (1,702, 2.0%) was trading at 10.2 times of weekly average. Havells India Ltd. (1,451.25, -6.2%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (489.40, -10.0%) were trading with volumes 9.0 and 8.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks hit their 52 week highs, while 81 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (8,705.40, 2.6%) and Chambal Fertilisers & Chemicals Ltd. (574.75, 1.9%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,825.30, -0.5%) and Alembic Pharmaceuticals Ltd. (776.10, -2.0%).

9 stocks climbed above their 200 day SMA including Shriram Finance Ltd. (606.80, 5.7%) and Bharti Hexacom Ltd. (1,306.10, 4.8%). 17 stocks slipped below their 200 SMA including Jubilant Ingrevia Ltd. (648.40, -5.3%) and Star Cement Ltd. (202.67, -4.6%).

 
More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended
Chart of the week: From partnerships to diversification: Dixon Technologies powers ahead to new highs
The Baseline | 14 May 2025, 09:48AM
Five stocks to buy from analysts this week - May 13, 2025
The Baseline | 13 May 2025, 05:09PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021