harish41
07 Dec 2021
By Ketan Sonalkar
On hearing the name Solar Industries, one expects a company that is active in the clean energy space and represents increasing adoption of solar energy.
But this is the largest manufacturer of industrial explosives and explosive initiating systems in India and owns the world’s biggest manufacturing facility for packaged explosives. It is emerging as one of the biggest private-sector …
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Trendlyne Marketwatch
02 Dec 2021
ICICI Securities maintains a 'Sell' rating on JSW Energy but raises its target price by 4% to Rs 156 on plans of reorganising the company's renewable and thermal power businesses. The brokerage raises its target price as the renewable energy business has better prospects going forward.
Larsen & Toubro and ReNew Power ink a deal to jointly develop, own, execute and operate green hydrogen projects in India. The duo will also develop competitive end-to-end solutions in the space to help industries meet their fuel demand as government moves to transition towards greener fuels.
Tata Teleservices (Maharashtra), Bayer Cropscience, IIFL Finance, and AIA Engineering are trading with higher volumes than Wednesday.
Star Health and Allied Insurance Company’s Rs 7,249-crore IPO gets bids for 79% of the available 4.49 crore shares on offer on the third day of bidding till now. Retail investors quota of 45 lakh shares was fully subscribed. The offer comprises a fresh issue of Rs 2,000 crore and an offer for sale of upto Rs 5,249 crore.
Dish TV India is rising after reports emerged that Bharti Airtel is looking to buy a majority stake in the company. Bharti Airtel will offer Rs 20 per share to buy the majority stake.
Gujarat Fluorochemicals is trading with more than six times its weekly average trading volumes, while Bayer Cropscience, Mahindra Logistics, Gujarat Pipavav Port, and Venky's (India) are trading with over three times their weekly average volumes.
HWIC Asia Fund, an affiliate of Fairfax Financial Holdings, sells a 3.2% stake in IIFL Finance (1.21 crore shares) for Rs. 365 crore through a bulk deal. This brings the fund's shareholding in the company down to 4.28%. In another bulk deal, Smallcap World Fund Inc buys an additional 2.64% stake or 1 crore shares in the company at Rs 300 apiece. This takes Smallcap World Fund's stake up to 4.24%
Mahindra Logistics is rising after it announces a long-term lease agreement with LOGOS. LOGOS will develop three grade-A warehouse facilities at Luhari Logistics Estate in Delhi NCR with an area of 1.4 million square feet, making it the largest warehouse in the country.
Somany Home Innovation's promoter Rajendra Kumar Somany and promoter entity Somany Impresa together buy 0.21% stake in the company in the open market. This takes the promoter shareholding to 51.32%
Coal India's November production rises 4.1% YoY to 53.8 million tonnes. The offtake of coal rises 10.8% to 56.8 million tons during the month.
JMC Projects is rising after it gets orders worth Rs 1,795 crore, which includes a Rs 1,085 crore water supply project and a Rs 710 crore buildings and factories project.
Hero MotoCorp's November 2021 wholesales fall 41% YoY to 3.5 lakh units. Motorcycle wholesales fall to 3.3 lakh units (vs 5.4 lakh units YoY) and scooter wholesales to 20,208 units (vs 49,654 units YoY). The delay in harvesting due to late withdrawal of monsoon impacted demand post the festive season.
Ahead of its Rs 660-crore IPO, Anand Rathi Wealth raises Rs 194 core from investors by selling 35.25 lakh shares at Rs 550 apiece to 12 anchor investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund, DSP Mutual Fund, Kotak Mutual Fund, Nippon India Mutual Fund, among others.
Upbeat trading today. Nifty 50 closed at 17401.65 (234.8, 1.4%) , BSE Sensex closed at 58461.29 (776.5, 1.4%) while the broader Nifty 500 closed at 14973.95 (189.3, 1.3%)
Market breadth is surging up. Of the 1815 stocks traded today, 1268 were on the uptick, and 502 were down.
Riding High:
Largecap and midcap gainers today include GMR Infrastructure (41.30, 7.41%), JSW Energy (316.65, 4.97%) and Adani Transmission (1885.20, 4.90%).
Downers:
Largecap and midcap losers today include Vedanta (337.90, -2.69%), Indus Towers (278.80, -1.97%) and Pfizer (4934.40, -1.77%).
Crowd Puller Stocks
13 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included IFCI (14.30, 19.67%), Greaves Cotton (158.75, 12.75%) and Gujarat Fluorochemicals (2315.35, 12.40%).
Dish TV India (18.40, 4.84%) was trading at 5.2 times of weekly average. Gujarat Pipavav Port (99.80, 1.17%) and Venky's (India) (2660.05, 6.29%) were trading with volumes 5.2 and 5.1 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
10 stocks took off, crossing 52-week highs, while 1 stock hit their 52-week lows.
Stocks touching their year highs included - Bajaj Holdings & Investment (5347.00, 3.10%), BEML (1893.85, 2.12%) and Power Grid Corporation of India (214.50, 3.52%).
Stock making new 52 weeks lows included - Hero MotoCorp (2472.70, 1.00%).
27 stocks climbed above their 200 day SMA including IFCI (14.30, 19.67%) and Greaves Cotton (158.75, 12.75%). Dalmia Bharat (1848.45, 0.56%) slipped below its 200 SMA.
Trendlyne Marketwatch
30 Nov 2021
Trendlyne Analysis
Nifty 50 closed at 16,983.20 (-70.8, -0.4%) , BSE Sensexclosed at 57,064.87 (-195.7, -0.3%) while the broader Nifty 500 closed at 14,648.35 (-8.1, -0.1%)
Market breadth is in the green. Of the 1,824 stocks traded today, 1,014 were on the uptrend, and 756 went down
PNB Housing Finance, Tube Investments of India, Bajaj Holdings and Investment and Crisil are trading with higher delivery volumes as compared to Monday
Axis Securities maintains a 'BUY' rating on Cyient due to increasing demand for digital transformation services but reduces its target price to Rs. 1200 from Rs. 1300. The company reported robust broad-based growth in Q2 FY22.
Indian Railway Catering and Tourism Corp (IRCTC) is rising after it inks a deal with redBus for rail ticketing. redBus is planning to launch a new rail booking service called redRail with IRCTC as an authorised partner
Ratnamani Metals and Tubes is rising as the company gets a new domestic order of Rs. 298 Crore from the oil and gas sector which will be executed between February 2022 and January 2023
Star Health and Allied Insurance Company’s Rs 7,249-crore IPO gets bids for over 0.08 times the available 4.49 crore shares on offer on the first day of bidding. Retail investors bid for over 0.47 times their quota of 45 lakh shares. The offer comprises a fresh issue of Rs 2,000 crore and an offer for sale of Rs 5,249 crore
Ratnamani Metals is trading with more than six times its weekly average trading volume. Shriram City Union Finance and The Fertilisers and Chemicals Travancore are trading at more than four times their weekly average trading volumes.
ICICI Securities upgrades Reliance Industries' rating to 'BUY' from 'HOLD' after its telecom arm Reliance Jio announces 20%+ tariff hikes for prepaid plans. RIL's stock has corrected around 9% in the last 1.5 months.
ICRA upgrades DLF's credit rating to AA- with 'Stable' outlook from A+ with 'Positive' outlook as its sales bookings grow 77% YoY in Q2FY22, cash collections improve and net debt reduces by Rs 900 crore in H1FY2
The Reserve Bank of India supersedes Reliance Capital's board. The company incurred losses in the last four years, reporting a cumulative net loss of nearly Rs 19,000 crore. The stock hit the lower circuit during trade.
Coal India approves an interim dividend of Rs 9 per share. The total dividend outgo for the company will be Rs 5,546 crore out of which Government of India will receive Rs 3,667 crore in its kitty. The record date is December 7, 2021
Go Fashions' shares list at a 90% premium to the issue price of Rs 690 on their debut on the bourses. The issue was subscribed over 135 times on back of oversubscription of 50 times in the retail quota and 262 times in the non institutional investors quota
Star Health and Allied Insurance Company raises Rs 3,217 crore from anchor investors including the Monetary Authority of Singapore, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Asia, BNP Paribas Arbitrage, Societe Generale, SBI Life Insurance Company, HDFC Life Insurance Company and Edelweiss Mutual Fund
Riding High:
Largecap and midcap gainers today include Rajesh Exports Ltd. (765.40, 8.21%), Relaxo Footwears Ltd. (1294.65, 5.67%) and Thermax Ltd. (1753.50, 4.69%).
Downers:
Largecap and midcap losers today include Adani Transmission Ltd. (1799.50, -5.00%), Adani Green Energy Ltd. (1295.40, -4.24%) and Tata Steel Ltd. (1071.20, -3.91%).
Movers and Shakers
62 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Sonata Software Ltd. (914.25, 16.34%), Shriram City Union Finance Ltd. (2225.95, 14.72%) and Brigade Enterprises Ltd. (502.45, 11.16%).
Top high volume losers on BSE were DCB Bank Ltd. (82.05, -7.08%), Gulf Oil Lubricants India Ltd. (512.30, -6.36%) and Adani Transmission Ltd. (1799.50, -5.00%).
REC Ltd. (134.55, 4.38%) was trading at 18.5 times of weekly average. ABB Power Products and Systems India Ltd. (2646.25, 9.44%) and MphasiS Ltd. (2895.15, -3.12%) were trading with volumes 13.6 and 12.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
5 stocks made 52 week highs, while 9 stocks hit their 52 week lows.
Stocks touching their year highs included - Raymond Ltd. (641.05, -2.54%), Timken India Ltd. (2020.90, 11.11%) and Orient Electric Ltd. (388.85, 10.86%).
Stocks making new 52 weeks lows included - Bajaj Consumer Care Ltd. (183.00, -0.60%) and Bombay Burmah Trading Corporation Ltd. (993.75, -2.41%).
25 stocks climbed above their 200 day SMA including PNC Infratech Ltd. (307.40, 7.75%) and Sumitomo Chemical India Ltd. (371.65, 5.90%). 12 stocks slipped below their 200 SMA including IDFC Ltd. (50.20, -3.74%) and Amber Enterprises India Ltd. (3029.45, -3.45%).
Trendlyne Marketwatch
29 Nov 2021
Trendlyne Analysis
RHI Magnesita India, Macrotech Developers, GMM Pfaudler and CAMS are trading with higher delivery volumes as compared to Friday
Macrotech Developers is falling after reports say the company is looking to tap the Bengaluru market and invest Rs 3,000 crore to achieve higher growth in the Mumbai and Pune regions
IT services stocks are trading higher with stocks like Larsen & Toubro Infotech, Tata Consultancy Services, and HCL Technologies are rising in intra-day trading. The sectoral index Nifty IT is also trading higher after crashing on Friday.
Bharat Dynamics is trading with more than eight times its weekly average trading volume. Poly Medicure, Pfizer, and Dr. Lal Pathlabs, are trading at more than four times their weekly average trading volumes.
Trident touches an all-time-high after it announces Q2FY22 results. The company’s net profits rise 2.2X YoY to Rs 235 crore. The stock rallies as the company’s infrastructure expansions and increasing demand in home textiles and paper industry indicate good recovery for Q3FY22.
ITC enters into an agreement to acquire 16% stake in Mother Sparsh Baby Care for Rs 20 crore to boost its offerings in the Personal Care segment
One97 Communications (Paytm) reports a net loss of 11% YoY to Rs 482 crore for Q2FY22. Total expenses rise 37% YoY to Rs 1,600 crore as indirect expenses increase to Rs 687 crore and growth of UPI payments business reveals red flags in terms of growth.
Promoter group entity SG Devbuild sells its remaining 1.07% stake or 48.33 lakh shares in Indiabulls Real Estate at an average price of Rs 172.8 on November 24 and 26
Plutus Wealth Management buys 2.51 lakh shares or 0.77% stake in Nazara Technologies. The investor now holds a 6.92% stake in the company.
Reliance Industries surges in trade as its telecom arm Reliance Jio announces a 20%+ hike in its tariffs for prepaid plans effective from Wednesday.
Nifty 50 closed at 17,053.95 (27.5, 0.2%) , BSE Sensex closed at 57,260.58 (153.4, 0.3%) while the broader Nifty 500closed at 14656.45 (-50.8, -0.4%)
Market breadth is overwhelmingly negative. Of the 1,846 stocks traded today, 318 showed gains, and 1,486 showed losses.
Riding High:
Largecap and midcap gainers today include Dr. Lal Pathlabs Ltd. (3885.45, 6.24%), Ipca Laboratories Ltd. (2120.35, 5.17%) and ABB India Ltd. (2083.35, 4.43%).
Downers:
Largecap and midcap losers today include Indian Railway Catering & Tourism Corporation Ltd. (775.80, -5.74%), IDBI Bank Ltd. (44.20, -5.35%) and Indian Hotels Company Ltd. (172.55, -5.22%).
Volume Shockers
17 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included BEML Ltd. (1875.05, 13.10%), Bharat Dynamics Ltd. (412.50, 6.47%) and Dr. Lal Pathlabs Ltd. (3885.45, 6.24%).
Top high volume losers on BSE were Tata Metaliks Ltd. (871.35, -6.34%), GE Power India Ltd. (230.05, -4.54%) and Crisil Ltd. (3026.05, -3.36%).
Poly Medicure Ltd. (1028.65, 5.19%) was trading at 7.9 times of weekly average. India Tourism Development Corporation Ltd. (382.65, -0.73%) and Pfizer Ltd. (5272.85, 2.75%) were trading with volumes 7.2 and 5.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
5 stocks made 52 week highs, while 27 stocks hit their 52 week lows.
Stocks touching their year highs included - BEML Ltd. (1875.05, 13.10%), Raymond Ltd. (657.75, 10.39%) and Shipping Corporation of India Ltd. (149.80, 1.73%).
Stocks making new 52 weeks lows included - Akzo Nobel India Ltd. (2049.00, -2.01%) and Amara Raja Batteries Ltd. (610.80, -2.18%).
6 stocks climbed above their 200 day SMA including Pfizer Ltd. (5272.85, 2.75%) and Supreme Industries Ltd. (2158.00, 1.74%). 63 stocks slipped below their 200 SMA including Indiabulls Housing Finance Ltd. (230.90, -6.35%) and Spicejet Ltd. (70.75, -6.23%).
Trendlyne Marketwatch
26 Nov 2021
Trendlyne Analysis
Gloom in markets in today's trading. Nifty 50 closed at 17,026.45 (-509.8, -2.9%) , BSE Sensex closed at 57,107.15 (-1,687.9, -2.9%) while the broader Nifty 500 closed at 14,707.20 (-443.4, -2.9%).
Market breadth is highly negative. Of the 1,824 stocks traded today, 336 were gainers and 1,463 were losers.
Procter & Gamble Hygiene & Healthcare, Endurance Technologies, AIA Engineering, and Bayer Cropscience are trading with lower delivery volumes as compared to Thursday.
Diagnostic service companies are up with stocks like Dr. Lal Pathlabs, Metropolis Healthcare, Thyrocare Technologies, Jeevan Scientific Technology, and Medinova Diagnostic Services trading higher.
Realty stocks are falling with stocks like DLF, Godrej Properties, Pheonix Mills and Oberoi Realty in the red. The broader sectoral index Nifty Realty is also trading lower.
Nifty Pharma is trading higher as Covid cases surge in US and Europe. Pharma stocks are trading up with stocks like Pfizer, Dr. Reddy’s Laboratories, Alkem Laboratories, Cipla, and Alembic Pharmaceuticals trading higher.
Sharekhan maintains a 'BUY' rating on APL Apollo Tubes on the back of expected sales volume growth of 20% and PAT growth of 35%+ in the next 2 years. The brokerage expects a target price upside of 19%
Capital Group's American Funds Fundamental Investors picks up 26.27 lakh shares or 1.8% stake in SIS at an average price of Rs 535.
Tarson Products' shares list at 6% premium to its issue price of Rs 662 on their debut on the bourses. The issue was subscribed over 77 times as the retail quota got bids for 11 times and non institutional quota got bid for 185 times their quota.
JSW Energy’s board approves re-organisation of the company’s green (renewable) business and grey (thermal) business. All renewable businesses will be taken under ‘JSW Energy Neo Ltd.’- a wholly owned subsidiary of the company. As part of the reorganisation, 100% equity shares of JSW Future Energy’s will be transferred to JSW Energy Neo.
Societe Generale and BNP Paribas offload 27.4 lakh shares and 23.5 lakh shares, respectively, of Indiabulls Housing Finance in a bulk deal on Thursday. Societe Generale sold 0.6% stake, whereas BNP Paribas divested 0.5% stake in the company.
Indian markets slumped today.Nifty 50was trading at 17,295.65 (-240.6, -1.4%) , BSE Sensex was trading at 58,052.69 (-742.4, -1.3%) while the broader Nifty 500 was trading at 14,970.40 (-180.2, -1.2%)
Market breadth is moving down. Of the 1,749 stocks traded today, 459 were in the positive territory and 1,250 were negative.
Riding High:
Largecap and midcap gainers today include Cipla Ltd. (966.70, 7.42%), Alkem Laboratories Ltd. (3,562.90, 6.84%) and Dr. Lal Pathlabs Ltd. (3,657.10, 6.82%).
Downers:
Largecap and midcap losers today include Indian Hotels Company Ltd. (182.05, -11.43%), Bandhan Bank Ltd. (282.65, -10.28%) and InterGlobe Aviation Ltd. (1,888.10, -8.86%).
Volume Rockets
32 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Indiabulls Housing Finance Ltd. (246.55, 8.78%), Cipla Ltd. (966.70, 7.42%) and Solara Active Pharma Sciences Ltd. (1,164.05, 7.39%).
Top high volume losers on BSE were Indian Hotels Company Ltd. (182.05, -11.43%), PVR Ltd. (1391.00, -10.89%) and Bandhan Bank Ltd. (282.65, -10.28%).
AstraZeneca Pharma India Ltd. (3,180.85, 4.74%) was trading at 20.1 times of weekly average. Pfizer Ltd. (5131.75, 4.82%) and BEML Ltd. (1657.85, 2.39%) were trading with volumes 9.6 and 9.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
10 stocks took off, crossing 52 week highs, while 8 stocks hit their 52 week lows.
Stocks touching their year highs included - Adani Transmission Ltd. (1,993.85, -1.76%), Apollo Hospitals Enterprise Ltd. (5,687.60, -0.24%) and BEML Ltd. (1,657.85, 2.39%).
Stocks making new 52 weeks lows included - Bombay Burmah Trading Corporation Ltd. (1,037.60, -3.61%) and Hero MotoCorp Ltd. (2,529.40, -2.52%).
13 stocks climbed above their 200 day SMA including Indiabulls Housing Finance Ltd. (246.55, 8.78%) and Cipla Ltd. (966.70, 7.42%). 32 stocks slipped below their 200 SMA including PVR Ltd. (1,391.00, -10.89%) and Bandhan Bank Ltd. (282.65, -10.28%).
25 Nov 2021
Vedanta: This mining company’s stock is buzzing after the company announced a review of the company’s businesses that will lead to a reorgainsation creating individual standalone entities in the aluminium, iron and steel, and oil and gas business. Nearly a week after this announcement, two promoter group entities—Twin Star Holdings and Vedanta Netherlands B.V.—together bought 5.7% stake in Vedanta.
Then, as a seventh encumbrance on their shareholding in Vedanta (65.18%), promoter group entities used their entire shareholding in the company as a guarantee to lenders to raise $800 million from Standard Chartered Bank, London. For context, Vedanta’s entire promoter shareholding is already pledged, and this is an additional encumbrance. This additional encumbrance, which is reported under SEBI’s pledged shares rules to stock exchanges, was executed to help Vedanta’s promoter entities buy additional shares in the company.
Tata Teleservices (Maharashtra): This communications solutions provider’s stock is the highest gainer among the Nifty 500 companies over the past week. The rise in its stock price has also made it one of the most overbought stocks, and this probably led its stock to be the most overbought according to technical indicators like RSI and MFI. This enthusiasm among investors and traders in the company’s stock is bewildering considering it hasn’t reported a quarterly profit since Q4FY19.
Hero Motocorp: This two-wheeler maker’s stock was meandering along sideways since the declaration of Q2FY22 results on November 15, 2021. Net profits fell 17% YoY to Rs 794 crore and revenue from operations fell 11% YoY to Rs 8,543 crore. Even after this tepid performance during the quarter, brokerages maintain a ‘Buy’ rating on this company’s shares. Analysts at brokerages seem optimistic about volume growth in 2HFY22 because of rural economic recovery, improving exports, and expansion in the electric vehicle (EV) segment. However, analysts at Axis Securities and Prabhudas Liladher, who reduced their target price, believe a reduction in commodity prices in 2HFY22, and rising exports will drive up growth. LKP Securities and IDBI Capital upgraded their target price due to higher sales and operating margins in Q2FY22.
Elgi Equipments: This air compressor maker’s stock recently touched a 10-year high mark as its net profits rose 55% YoY to Rs 52 crore in Q2FY22. This company is the second-largest player in the Indian air compressor market with a 22% market share. Analysts believe its expansion plans in the international market will steer long-term growth. Revenues grew 35.8% YoY to Rs 652 crore in Q2FY22, and brokerages expect revenues to grow up to 19% in FY22-FY23. Although some Covid-related disruptions were observed in Australia and South-East Asian markets, the company clocked good revenues across other markets. The company’s automotive business bounced back to pre-Covid levels with revenues rising by 45% YoY, showing incremental growth for this segment. The management is positive to pull off the same performance in Q3FY22 as well.
Bharti Airtel: Telecom major Bharti Airtel’s stock recently scaled a 10-year high of Rs 779.70 on BSE after the firm hiked tariffs by 20%-25% for its prepaid and data top-up plans effective November 26. The prepaid plans segment contributes 65% to its overall sales. This move coupled with the company’s robust operational performance in Q2FY22 led to its credit rating being upgraded by Moody’s to ‘Positive ’from ‘Stable’. The company’s topline rose 13% YoY to Rs 28,326 crore and posted a profit of Rs 1,134 crore in Q2FY22. Its customer base now stands at an impressive figure of 48 crore. The rating agency feels the change in outlook to positive, if sustained, could support an upgrade to investment grade within the next 12-18 months. Brokerage houses such as Motilal Oswal and ICICI Securities raised their target prices on the stock with an upside of 24% and 16% respectively.
Trendlyne Marketwatch
23 Nov 2021
Trendlyne Analysis
Nifty 50 closed at 17,503.35 (86.8, 0.5%) , BSE Sensex closed at 58,664.33 (198.4, 0.3%) while the broader Nifty 500 closed at 15,107.80 (131.1, 0.9%)
Market breadth is highly positive. Of the 1,810 stocks traded today, 1,414 were on the uptrend, and 354 went down.
Westlife Development, Sundaram Fasteners, WABCO India, and Bajaj Holdings & Investment are trading with higher delivery volumes as compared to Monday.
Metal stocks are trading up with stocks like Tata Steel, JSW Steel, Vedanta and Hindalco rising. The broader sectoral index Nifty Metal is up 3% today
Anand Rathi maintains a 'BUY' on Tata Steel on the back of a 7.5X rise in its Q2FY22 net profit and expectation of further HRC prices hikes which could be taken by the company in H2FY22. The brokerage expects an upside of 50% from the current market price.
IPCA Laboratories purchases 10.5 lakh shares (3.6% stake) of Lyka Labs in a bulk deal on Monday.
Triveni Engineering surges in trade on the back of its 10-yr deal with GEAE Technology to manufacture parts for LM2500 gas turbine. This gas turbine is inturn used in Indian Navy's vessels
Vedanta is trading with more than seven times its weekly average trading volume. Elgi Equipments, NMDC, and Atul Ltd, are trading at more than two times their weekly average trading volumes.
Motilal Oswal maintains its 'Neutral' rating on Wipro post its investor day. The brokerage feels the IT major's current valuation already captures the prospects of 15%-16% earnings growth till FY23E
Sumitomo Chemical India is rising despite reporting a fall in net profit by 1.8% YoY to Rs 155 crore from Rs 158 crore in Q2FY22. The company’s growth for 2HFY22 looks optimistic because of outsourcing opportunities with SCC Japan by improving asset turnover by 2.5X
Axis Direct downgrades its rating for Escorts to ‘Hold’ from ‘Buy’ with a change in target price upside to 5% from 10% as net profits for Q2FY22 fall 23% YoY to Rs 177 crore and tractor segment volume growth drops by 14% YoY.
Latent View Analytics' shares list at a 169% premium to its issue price of Rs 197 on their debut on the bourses. The issue was subscribed over 327 times on the back of a 120 times oversubscription in the retail quota and an 851 times subscription in the non institutional investors quota.
Societe Generale sells 4.6 lakh shares of Fino Payments Bank in a bulk deal on Monday.
Nifty 50 was trading at 17,336.75 (-79.8, -0.5%) , BSE Sensex was trading at 58,237.94 (-228.0, -0.4%) while the broader Nifty 500 was trading at 14,938.00 (-38.7, -0.3%)
Market breadth is in the green. Of the 1,732 stocks traded today, 916 were in the positive territory and 755 were negative.
Riding High:
Largecap and midcap gainers today include Glenmark Pharmaceuticals Ltd. (516.70, 10.11%), Vedanta Ltd. (354.60, 7.99%) and Union Bank of India (46.90, 6.96%).
Downers:
Largecap and midcap losers today include Syngene International Ltd. (585.10, -3.53%), IndusInd Bank Ltd. (981.35, -2.54%) and Asian Paints Ltd. (3,185.55, -2.32%).
Movers and Shakers
9 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Raymond Ltd. (588.20, 16.13%), Glenmark Pharmaceuticals Ltd. (516.70, 10.11%) and Triveni Turbine Ltd. (183.20, 9.83%).
Top high volume losers on BSE were V-Guard Industries Ltd. (233.90, -1.20%) and Mahanagar Gas Ltd. (938.00, -0.23%).
Vedanta Ltd. (354.60, 7.99%) was trading at 8.3 times of weekly average. NMDC Ltd. (142.25, 4.90%) and Jyothy Labs Ltd. (150.00, 0.23%) were trading with volumes 3.4 and 3.1 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
8 stocks took off, crossing 52 week highs, while 13 stocks were underachievers and hit their 52 week lows.
Stocks touching their year highs included - Bharti Airtel Ltd. (758.90, 2.26%), Raymond Ltd. (588.20, 16.13%) and Trident Ltd. (49.80, 4.95%).
Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (200.15, 2.93%) and Amara Raja Batteries Ltd. (640.20, 1.70%).
22 stocks climbed above their 200 day SMA including Navin Fluorine International Ltd. (3,516.55, 6.97%) and Rain Industries Ltd. (208.00, 6.31%). 25 stocks slipped below their 200 SMA including Syngene International Ltd. (585.10, -3.53%) and Supreme Industries Ltd. (2,150.00, -1.37%).
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23 Nov 2021
Trendlyne Marketwatch
22 Nov 2021
Trendlyne Analysis
Gloom in markets in today's trading. Nifty 50 closed at 17,416.55 (-348.3, -2.0%) , BSE Sensex closed at 58,465.89 (-1,170.1, -2.0%) while the broader Nifty 500 closed at 14976.70 (-325.9, -2.1%)
Market breadth is overwhelmingly negative. Of the 1,836 stocks traded today, 253 were in the positive territory and 1,551 were negative.
Sundaram Finance, IIFL Wealth Management, Johnson Controls, and Bayer Cropscience are trading with lower delivery volumes as compared to Thursday.
HDFC Securities initiates coverage on Tanla Platforms with a 'BUY' rating. The initiation was on account of robust revenue growth posted by Karix Mobile and the Turbloq platform on TTM basis. The brokerage expects a target price upside of 15%.
Rajeev Jain, in a call with CLSA, shows optimism on Bajaj Finance’s growth. In the absence of the third wave of Covid, metrics for growth, risk, and debt management will return to normal, he said. The value momentum is much stronger especially in terms of rural growth, B2B, B2C businesses, and mortgage.
Go Fashion India’s (owner of Go Colors brand) Rs 1,014-crore IPO gets bids for over 59 times its available 80.8 lakh shares on offer. Retail investors bid for over 44X of their quota of 14.7 lakh shares on the final day of bidding. The offer comprises of a fresh issue of Rs 125 crore and an offer for sale of Rs 888.6 crore by selling shareholders.
Geojit BNP Paribas reduces target price for Bank of India by 13% as it contemplates asset quality to remain constant, owing to credit risks arising from MSME segment. The bank’s NII took a dip of 7.9% QoQ because of negative profits from investments and exchange transactions.
Vodafone Idea is rising in the intra-day market on speculation of a hike on tariffs and fundraising to improve capital spends. Brokerages are optimistic with a ‘Buy’ rating and a target price upside of 5%.
Sundram Fasteners is trading with less than seven times its weekly average trading volume. Bharti Airtel, Engineers India, and Indus Towers, are trading at more than three times their weekly average trading volumes.
Plutus Wealth Management picks up 8 lakh shares in Religare Enterprises and increases its stake from 5.72% to 5.97%.
Hindustan Zinc slips in trade as the Supreme Court allows the government to divest its 29.54% stake in the company. SC also calls for a CBI inquiry into the 2002 government disinvestment in the zinc producer.
Bharti Airtel surges in trade on the back of a 20-25% tariff hike in prepaid plans and 20-21% tariff hike in data top-up plans effective November 26
Reliance Industries slips in trade as the $15 billion deal which involved a 20% stake acquisition by Saudi Aramco in its O2C business is now off the table
HDFC securities maintains a ‘Buy’ rating on Fine Organic Industries with a target price upside of 18% as it expects its leadership in oleo-chemicals in domestic and global markets to generate revenues above 22% in Q3FY22.
Indian markets slumped today. Nifty 50 was trading at 17,632.65 (-132.2, -0.7%) , BSE Sensex was trading at 59,180.72 (-455.3, -0.8%) while the broader Nifty 500 was trading at 15,175.65 (-126.9, -0.8%)
Market breadth is highly negative. Of the 1,759 stocks traded today, 470 showed gains, and 1,232 showed losses.
Riding High:
Largecap and midcap gainers today include Vodafone Idea Ltd. (10.60, 6.53%), Vedanta Ltd. (328.35, 6.07%) and Bharti Airtel Ltd. (742.10, 3.88%).
Downers:
Largecap and midcap losers today include Oil India Ltd. (195.45, -8.24%), IDBI Bank Ltd. (47.80, -7.45%) and Tata Motors Limited (DVR) (268.80, -6.67%).
Volume Rockets
12 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Bharti Airtel Ltd. (742.10, 3.88%), Indus Towers Ltd. (291.95, 2.64%) and Engineers India Ltd. (71.15, 2.01%).
Top high volume losers on BSE were Brigade Enterprises Ltd. (465.70, -5.83%), Bajaj Finance Ltd. (7,058.30, -5.70%) and Relaxo Footwears Ltd. (1,292.60, -2.96%).
Sundram Fasteners Ltd. (791.75, -0.91%) was trading at 6.9 times of weekly average. Cholamandalam Financial Holdings Ltd. (705.15, 0.71%) and Bajaj Holdings & Investment Ltd. (4,872.10, -0.37%) were trading with volumes 4.8 and 3.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
9 stocks made 52 week highs, while 15 stocks hit their 52 week lows.
Stocks touching their year highs included - Bharti Airtel Ltd. (742.10, 3.88%), Escorts Ltd. (1,802.75, -0.01%) and Finolex Cables Ltd. (586.35, 0.08%).
Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (194.45, -1.62%) and Amara Raja Batteries Ltd. (629.50, -2.92%).
4 stocks climbed above their 200 day SMA including Emami Ltd. (530.70, 2.83%) and Kansai Nerolac Paints Ltd. (589.95, -0.16%). 59 stocks slipped below their 200 SMA including Jai Corp Ltd. (110.25, -8.09%) and Navin Fluorine International Ltd. (3,287.45, -7.43%).