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D-Street Buzz: Bajaj Auto top Nifty gainer post Q3 results; RIL sheds 2%, Bajaj Finance most active

About 705 shares have advanced, 1571 shares declined, and 119 shares are unchanged.

January 30, 2020 / 03:11 PM IST

The Indian stock market jilted by the outbreak of the coronavirus in China have spooked investors fearing that the virus outbreak may derail the pace of economic growth. Sensex is down 276.83 points or 0.67 percent at 40921.83, and the Nifty shed 89.30 points at 12040.20.

All sectoral indices are trading in the red led by the pharma and the FMCG index.

The top losers from the pharma space included Aurobindo Pharma which shed over 5 percent after that the US drug regulator classified the inspection of the company’s oral solids formulation manufacturing facility of Unit VII as Official Action Indicated (OAI).

The other losers included Cadila Healthcare, Cipla, Piramal Enterprises, Lupin and Glenmark Pharma.

The top losers from the FMCG space included Colgate Palmolive which shed over 5 percent after the company reported its Q3 earnings. Net profit stood at Rs 199.1 crore versus Rs 192.1 crore in the same quarter last fiscal.

Share price of Godrej Consumer was down over 7 percent after the total expenses rose 1.28 percent to Rs 2,244.16 crore as against Rs 2,215.79 crore a year ago. It reported a 5.11 percent increase in consolidated net profit at Rs 445.20 crore in the third quarter ended December, helped by volume growth in domestic business.

Bajaj Auto share price was the top Nifty gainer, up over 2 percent after it reported a nearly 15 percent year-on-year (YoY) jump in net profit to Rs 1,262 crore in Q3FY20 against Rs 1,102 crore in the corresponding quarter of the previous financial year.

India VIX is up 1.88 percent and is trading at 16.81 level.

The top gainers from the Nifty were Eicher Motors, Bajaj Auto, NTPC, Power Grid and ICICI Bank while the top losers included YES Bank, Reliance Industries, Cipla, Zee Entertainment and Bajaj Finserv.

The most active stocks were Bajaj Finance, Escorts, Tata Motors, Reliance Industries and State Bank of India.

41 stocks have hit new 52-week high on NSE including Tata Investment, Avenue Supermarts, KNR Construction, Pidilite Industries and Coromandel International.

31 stocks hit new 52-week low on NSE including Karur Vysya Bank, Cox & Kings, Kridhan Infra, Reliance Power, Kesoram Industries, Future Supply Chain Solutions and Sintex Plastics Technology.

About 705 shares have advanced, 1571 shares declined, and 119 shares are unchanged.

Technical analyst Ashwani Gujral of has a buy on Bajaj Finance with a stop loss of Rs 4380, target of Rs 4500 while Sudarshan Sukhani of has a sell on Eicher Motors with stop loss at Rs 20450 and target of Rs 19800.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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Sandip Das
first published: Jan 30, 2020 03:08 pm