Page 154 - Market Trends
Tech Mahindra slips 6% as investors book profit post Q3FY24 results
Ahead of the result, the stock rallied 13 per cent in two weeks. It had hit a 52-week high of Rs 1,416 on January 23
 "Tech Mahindra slips 6% as investors book profit post Q3FY24 results")
DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why
Most positive factors in terms of a pick-up in housing demand and office space absorption, CLSA said, are already priced in.
 "DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why")
Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks
The stock of private sector lender was trading at its highest level since August 2014
 "Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks")
Stock from Madhuri Madhusudan Kela's portfolio has zoomed 54% in 2 months
According to shareholding pattern data, Madhuri Madhusudan Kela, the wife of ace investor Madhusudan Kela, held 2.94 million equity shares or 5.85 per cent stake in Sangam (India) at the end of Q3
 "Stock from Madhuri Madhusudan Kela's portfolio has zoomed 54% in 2 months")
Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results
The two-wheeler major reported its highest-ever quarter revenue at Rs 12,114 crore and EBITDA at Rs 2,430 crore for the quarter ended December 2023.
 "Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results")
Indian Bk up 8%, hits new high on solid Q3 nos; Motilal expects more upside
In past six months, the share price of Indian Bank has appreciated by 43 per cent, as against 6.4 per cent rise in the S&P BSE Sensex.
 "Indian Bk up 8%, hits new high on solid Q3 nos; Motilal expects more upside")
TRIL freezes at 20% upper limit; hits new high on healthy business outlook
The company had a strong order book position of Rs 2,572 crore as on December 31, 2023 (Q3FY24).
 "TRIL freezes at 20% upper limit; hits new high on healthy business outlook")
South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results
IDBI Bank surged 14% to hit over five-year high of Rs 86.97; while South Indian Bank hit a fresh six-year high of Rs 33.70 on soaring 9% backed by heavy volumes.
IREDA up 31% in four days on robust Q3 results; zooms 405% over issue price
For Q3FY24, IREDA reported a healthy 67 per cent year-on-year (YoY) increase in profit after tax (PAT) of Rs 335 crore
 "IREDA up 31% in four days on robust Q3 results; zooms 405% over issue price")
Stock of this company engaged in Solar EPC biz has zoomed 117% in 7 weeks
Shares of Waaree Renewable Technologies on Wednesday were locked in the 5 per cent upper circuit for the third straight session on BSE
 "Stock of this company engaged in Solar EPC biz has zoomed 117% in 7 weeks")
Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock
MOFSL said an elevated CD ratio will constrain credit growth, while continued re-pricing of deposits will likely exert pressure on margins in the coming quarters.
 "Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock")
HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week
The stock slipped nearly 4% to Rs 1,425.05 on the BSE in intra-day trade, falling below its previous low of Rs 1,460.55 touched on October 26, 2023.
 "HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week")
Medi Assist Health sees decent debut, lists at 11% premium over issue price
Post listing, the stock moved 24 per cent higher to Rs 518 on NSE. It hit a high of Rs 509.60 on the BSE in intra-day trade
 "Medi Assist Health sees decent debut, lists at 11% premium over issue price")
Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split
In past 6 months, the stock price of Persistent Systems has zoomed nearly 80 per cent. In comparison, the S&P BSE Sensex was up 8 per cent during the same period.
 "Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split")
Ceat extends rally for third day; surges 14% on healthy outlook
Ceat on Friday launched its new premium range of two-wheeler steel radial tyres, targeting both aftermarket and original equipment manufacturer (OEM) segments.
 "Ceat extends rally for third day; surges 14% on healthy outlook")
Ganesh Housing zooms over 50% in 4 days as Q3 net profit jumps three-fold
In Q3FY24, Ganesh Housing's profit after tax grew 232 per cent year-on-year to Rs 100.60 crore
 "Ganesh Housing zooms over 50% in 4 days as Q3 net profit jumps three-fold")
Hindustan Unilever slips 3%; hits 2-month low post December quarter results
The company said weak rural consumer sentiment and delayed winter were behind its underwhelming performance.
 "Hindustan Unilever slips 3%; hits 2-month low post December quarter results")
These 2 rail-related stocks have zoomed over 75% thus far in Jan
IRFC with market capitalisation of Rs 2.3 trillion today surpassed other state-owned companies like Power Grid Corporation (Rs 2.23 trillion), IOCL (Rs 2.11 trillion) and HAL (Rs 2.01 trillion).
Bharti Airtel hits fresh peak, soars 5% on hopes of tariff hikes in 2024
Telecom operators raised tariffs in 2019 and 2021 and analysts at BNP Paribas expect tariff hike in mid-2024 after the general elections
 "Bharti Airtel hits fresh peak, soars 5% on hopes of tariff hikes in 2024")
Railway-related stocks rally up to 18%; IRFC m-cap crosses Rs 2 trillion
RVNL, IRFC, IRCON International, NBCC, RailTel Corporation of India and Texmaco Rail & Engineering were up in the range of 5% to 18%.
 "Railway-related stocks rally up to 18%; IRFC m-cap crosses Rs 2 trillion")