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Sensex, Nifty Post Best Single-Day Gains In Nearly A Month

Sensex, Nifty Post Best Single-Day Gains In Nearly A Month
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., (Photographer: Michael Nagle/Bloomberg)
8 years ago
Indian equity benchmark rebounded after form a six-week low, led by Bharti Airtel and Asian Paints.

Shares of Hotel Leela Venture Ltd. rose as much as 5.6 percent today, the most in two weeks to Rs 20.90, after its operating margins expanded in July-September period.

Earnings Highlights (Q2 YoY)

  • Net loss at Rs 24.4 crore versus net loss of Rs 8.9 crore.
  • Revenue up 1 percent to Rs 158.4 crore.
  • Ebitda up 15.4 percent to Rs 38 crore.
  • Margins expanded to 24 percent from 21 percent.

Shares of the capital market company snapped a four-day decline and rose as much as 5 percent, the most in a week to Rs 58.05.

Nearly 1.8 crore shares or 9.6 percent equity, changed hands in a single block deal on the National Stock Exchange.

Buyers and sellers were not known immediately.

Shares of D-Mart owner snapped two-day decline and rose as much as 2.3 percent to Rs 1,150 after a block deal. About 19.92 lakh shares worth Rs 225 crore changed hands in a single block, Bloomberg data showed.

Buyers and sellers were immediately not known.

Shares of the Jaguar Land Rover (JLR) owner snapped two-day decline and rose as much as 2.1 percent to Rs 405.30.

JLR sales roses by 10 percent on a yearly basis last month, largely led by the new Land Rover Discovery and the Range Rover Velar, according to its stock exchange notification.

Segment Wise Sales:

  • Jaguar Sales fell 6.3 percent year-on-year to 13,688 units in November.
  • Land Rover Sales rose 17.2 percent year-on-year to 38,644 units.

Shares of the engineering equipment maker snapped two-day decline and rose as much as 2 percent to Rs 1,215.

The company's subsidiary L&T Hydrocarbon Engineering bagged an order worth Rs 1,600 crore from Hindustan Petroleum Corporation Ltd., according to its stock exchange notification.

Besides, brokerage and research firm Nomura upgraded its stock rating yesterday to 'Buy' from 'Neutral' and lifted its price target to Rs 1,453 from Rs 1,285. The hike in price target implies a potential upside of 22 percent from the current market price.

Shalby Ltd.’s initial public offering was subscribed 1.08 times on the Third and final day of bidding as of 11 a.m., according to data provided by Axis Capital.

Category Wise Subscription:

  • Qualified institutional buyers: 1.97 times
  • Non-institutional bidders: 0.02 times
  • Retail investors: 1.04 times
  • Employees: 0.73 times

Pokarna (Q2, YoY)

  • Stock fell as much as 7.4 percent to Rs 208.
  • Revenue down 9 percent to Rs 85 crore.
  • Net profit down 37 percent to Rs 12 crore.
  • EBITDA down 27 percent to Rs 27 crore.
  • Margins at 31.8 percent from 39.6 percent.

Centum Electronics (Q2, YoY)

  • Stock fell as much as 9.5 percent to Rs 580.
  • Revenue down 14 percent to Rs 91 crore.
  • Net loss of Rs 9 crore from a net profit of Rs 10 crore.
  • EBITDA at Rs (6.7 crore) versus Rs 16.6 crore.
  • Margins at (7.4 percent) from 15.7 percent.

Arshiya (Q2, YoY)

  • Stock rose as much as 2.3 percent to Rs 98.35.
  • Revenue up 11 percent to Rs 24 crore.
  • Net loss of Rs 22.5 crore versus Net loss of Rs 22.6 crore.
  • EBITDA up 14 percent to Rs 16.3 crore.
  • Margins at 67.9 percent from 66.2 percent.

Ador Welding (Q2, YoY)

  • Stock rose as much as 4.9 percent to Rs 514.
  • Revenue up 20 percent to Rs 122 crore.
  • Net profit up 4 percent to Rs 5.5 crore.
  • EBITDA up 8 percent to Rs 10.8 crore.
  • Margins at 8.9 percent versus 9.8 percent.

Shares of the state-owned gas utility rose as much as 3.7 percent, the most in over two weeks to Rs 472.78, GAIL plans to spend Rs 6,000 crore by March 2019 to build new pipelines, Director-Projects Ashutosh Karnatak told reporters yesterday. (More details here.)

The stock was the best performer on the country's benchmark Nifty. It has returned 46 percent so far this year.

Shares of the road builder fell as much as 5 percent after Central Bureau of Investigation filed a charge sheet against the company in a Pune court over alleged illegal purchase of government land in Pimpoli village and in Maval Taluka.

HSBC on IRB Infra

  • Downgraded to ‘Hold’ from ‘Buy’; cut price target to Rs 200 from Rs 331.
  • CBI filed a charge sheet against IRB, its promoter, its subsidiary, and few other employees in a government land grab case.
  • Historically, the stock has reacted very negatively on such news flow.
  • Very difficult to predict how the case will progress.
  • Expect stock to be under pressure and will not be driven by business fundamentals.
  • Downgrade to Hold despite attractive valuations.

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