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Sensex Posts Biggest Single Day Gain In Over A Month Led By IT Stocks

Sensex Posts Biggest Single Day Gain In Over A Month Led By IT Stocks
A staff member from the Motilal Oswal group celebrates on the trading room floor. (Photographer: Santosh Verma/Bloomberg News)
8 years ago
SGX Nifty indicates a strong start for Indian indices. Tata Motors and Jet Airways will react to their Q4 earnings. 

NCC: The Hyderabad-based construction company rose as much as 6.3 percent to Rs 112 after it profit met Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit up 61 percent at Rs 103 crore versus estimate of Rs 111 crore
  • Revenues up 12 percent at Rs 2,395 crore versus Rs 2,139 crore (YoY)
  • EBITDA up 75 percent at Rs 305 crore versus Rs 174 crore (YoY)
  • Margins at 12.7 percent versus 8.1 percent (YoY)
  • Target to receive new orders worth Rs 14,000 crore in FY19
  • Target 45 percent revenue growth in FY19 to Rs 11,000 crore

Kaveri Seed Company: The Secunderabad-based hybrid seed producer rose as much as 6.3 percent, the most in over three months, to Rs 502.60 after couple of block deals in yesterday's session.

MEP Infra: The Mumbai-based toll management company rose as much as 7.5 percent to Rs 81.95 after it raised foreign investment limit to 100 percent from 24 percent.

Varun Beverages: The Gurugram-based bottler of PepsiCo India rose as much as 5.33 percent to record high of Rs 747.85. The stock has been on an upmove since last three trading session and it has risen more than 10 percent.

Shares of the Gurugram-based cement maker rose as much as 7.34 percent, the most in over three months, to Rs 151.45 after it reported March quarter earnings.

Key earnings highlights:

  • Margin at 22.6 percent versus 14.1 percent (YoY)
  • EBITDA up 51 percent at Rs 119.9 crore versus Rs 79.4 crore (YoY)
  • Revenue up 15 percent at Rs 531.3 crore versus Rs 463 crore (YoY)
  • Net profit up 40 percent at Rs 52 crore versus Rs 37 crore (YoY)

Windfall Tax is a bad move on the part of the government, Oil and gas expert Kirit Parikh told BloombergQuint in an interview.

Key highlights from the conversation:

  • Central government needs to reduce excise and state governments need to reduce VAT.
  • Government should reduce excise duty by Re 1.

Shares of the ceramic maker extended decline for the fifth trading session, its longest losing streak since April 30. The stock fell as much as 7.3 percent to Rs 506.30 apiece after the results announcement.

Key earnings highlights (Q4, YoY):

  • Net Profit down 6 percent at Rs 23.5 crore.
  • Revenue down 5 percent at Rs 527 crore.
  • Ebitda down 6 percent at At Rs 46 crore.
  • Margin At 8.7 percent versus 8.8 percent.

Tata Motors Seeks Higher Dividend From JLR

Shares of the Hyderabad-based construction company rose as much as 6.3 percent to Rs 112 after it profit met Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit up 61 percent at Rs 103 crore versus estimate of Rs 111 crore
  • Revenues up 12 percent at Rs 2,395 crore versus Rs 2,139 crore (YoY)
  • EBITDA up 75 percent at Rs 305 crore versus Rs 174 crore (YoY)
  • Margins at 12.7 percent versus 8.1 percent (YoY)
  • Target to receive new orders worth Rs 14,000 crore in FY19
  • Target 45 percent revenue growth in FY19 to Rs 11,000 crore

Click here for more stock market statistics

  • Avenue Supermarts has 43 lakh shares or 3.4 percent equity change hands in a block.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

Shares of the state-run natural gas distributor swung between gains and losses and traded at Rs 317 ahead of its results announcement.

Here's what to watch out for:

  • Net profit seen rising rise 6 percent to Rs 1,343 crore versus Rs 1,262 crore (QoQ)
  • Revenues seen rising 9 percent to Rs 14,470 crore versus Rs 14,414 crore (QoY)
  • Ebitda expected to increase 9 percent to Rs 2,154 crore versus 1,555 crore.

  • Marico has 61 lakh shares change hands in a block deal. Stock up 2.13 percent to Rs 317.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

  • Sun Pharma has 10 lakh shares change hands in a block. Stock up 3.7 percent at Rs 469.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

Shares of the Kolkata-based innerwear maker rose as much as 8.3 percent to Rs 470 after it reported March quarter earnings.

Key earnings highlights:

  • Revenue up 10.1 percent at Rs 420.3 crore.
  • Net profit up 70.5 percent at Rs 39.9 crore.
  • Ebitda up 66.7 percent at Rs 67.5 crore.
  • Margin at 16.1 percent.

Shares of the Kolkata-based paint maker rose as much as 4.64 percent to Rs 124 after its board agreed to increase FII/PI limit in the company to 49 percent from 24 percent.

Shares of the Tamil Nadu-based private sector lender fell as much 4.6 percent to Rs 176 after it reported March quarter earnings.

Key earnings highlights:

  • Net profit up 17.8 percent at Rs 152 crore versus Rs 129 crore (YoY)
  • NII up 18.3 percent at Rs 368 crore versus Rs 311 crore (YoY)
  • Gross NPAs at 3.03 percent versus 3.30 percent (QoQ)
  • Net NPAs at 1.70 percent versus 1.74 percent (QoQ)
  • Board approves bonus issue; to give 1 bonus share for every 10 held
  • Provisions at Rs 86 crore versus Rs 85.6 crore (QoQ); Rs 71 crore (YoY)

Shares of the Mumbai-based film producer and distributor rose as much as 10.39 percent, the most in over four months, to Rs 131.25 after its net profit rose 80 percent in March quarter.

Key earnings highlights:

  • Revenue up 32 percent at Rs 239 crore.
  • Net profit up 79 percent at Rs 61 crore.
  • Ebitda up 129 percent at Rs 90.5 crore.
  • Margin at 37.9 percent.

Shares of the Mumbai-based crop protection company fell as much as 4 percent to Rs 4,350 after it reported loss in March quarter.

Key earnings highlights:

  • Revenue up 39.5 percent at Rs 300 crore.
  • Net loss of Rs 13 crore.
  • Ebitda loss at Rs 16.5 crore.

Shares of the Delhi-based pipe fittings and sprinkler maker surged as much as 10 percent to Rs 628.65 after its profit more than doubled in March quarter.

Key earnings highlights:

  • Revenue up 16 percent at Rs 74 crore.
  • Net profit up 140 percent at Rs 12 crore.
  • Other income of Rs 6 crore in the current quarter.
  • Ebitda up 14 percent at Rs 12 crore vs Rs 10.5 crore.
  • Margin at 16.2 percent from 16.4 percent.

Shares of the Secunderabad-based hybrid seed producer rose as much as 6.3 percent, the most in over three months, to Rs 502.60 after couple of block deals in yesterday's session.

  • Pabrai Investment Fund II bought 7.79 lakh shares or 1.2 percent equity at Rs 487.29 each.
  • BNP Paribas Arbitrage sold 7.42 lakh shares or 1.1 percent equity at Rs 488 each.

Jet Airways Reports Surprise Loss In March Quarter

Tata Motors Seeks Higher Dividend From JLR

Seth Freeman, senior MD of GlassRatner & Capital told BloombergQuint in an interview that most economists are expecting three rate hikes from the U.S. Fed this year.

Key conversation highlights:

  • Premium on debt in India expensive, investors will stay in equities for some time
  • Net oil importers like India will face double whammy with dollar strengthening, oil rising

  • Rupee opened higher at 68.33 per U.S. dollar against yesterday's close of 68.42.

Brokerages On Tata Motors

CLSA

  • Maintained ‘Sell’; cut price target to Rs 295 from Rs 330.
  • Margins of both JLR and India operations missed estimates.
  • JLR outlook remains weak and margin commentary was subdued.
  • Cut EPS estimates for the current and the next financial year by 7 percent and 8 percent respectively to factor in lower volume and margin and higher depreciation for JLR.

Jefferies

  • Maintained ‘Buy’; cut price target to Rs 440 from Rs 510.
  • Near-term demand outlook for JLR remains challenging.
  • Strong macro and likely improvement in market share trends aiding standalone business.
  • “Undemanding valuation” post steep correction makes risk-reward favorable in our view.

Other Brokerage Calls

Kotak On Motherson Sumi

  • Maintained ‘Sell’ with a price target of Rs 265.
  • Q4 results marginally better than estimates but internals quite weak.
  • New orders won by SMRPBV is flattened over past couple of years.
  • Orderbook could lead to slowdown in revenue growth of the company.

Edelweiss On Grasim

  • Maintained ‘Buy’ and cut price target to Rs 1,332 from Rs 1,416.
  • Cost-led disappointment in viscose staple fibre business offset by improved realisation in chemicals segment.
  • VSF margin dipped due to impact of high cost and low volumes.

Nomura On CESC

  • Maintained ‘Neutral’ with a price target of Rs 948.
  • Turnaround of Chandrapur and Spencer’s well in progress.
  • Earnings of renewables and distribution franchisees disappoint.
  • Conclusion of business restructuring exercise is near term focus.

Nomura On Indraprastha Gas

  • Maintained ‘Buy’ with a price target of Rs 425.
  • Q4 results met estimates but recent rupee weakness a concern.
  • Overall volume growth of 11 percent lower than 12-16 percent over past 7-8 quarters.
  • Near-term focus will be on the ongoing city gas distribution licensing.

Credit Suisse On JM Financial

  • Initiated coverage with ‘Neutral’ rating with a price target of Rs 150.
  • Growing corporate loan book, along with a recent foray into home loans.
  • Lending business generates superior return on assets on higher yields and lower credit costs versus peers.
  • JM ARC has a better track record of resolutions versus peers.

Credit Suisse On AB Capital

  • Initiated coverage with ‘Outperform’ rating and a price target of Rs 175.
  • Life insurance business is showing improving profitability.
  • Key catalyst for lending business could be an upgrade in credit rating.

  • GAIL
  • Other Earnings To Watch

    • City Union Bank
    • Cochin Shipyard
    • Cummins India
    • Glaxosmithkline Pharmaceuticals
    • Granules India
    • HeidelbergCement India
    • Heritage Foods
    • Kaveri Seed Company
    • Moil
    • NCC
    • Pidilite Industries
    • Sequent Scientific
    • Somany Ceramics
    • Triveni Engineering Industries
    • United Breweries
    • United Spirits
    • V-Mart Retail
    • Zydus Wellness

Jain Irrigation (Q4, YoY)

  • Revenue up 26 percent at Rs 2,778 crore.
  • Net profit up 26 percent at Rs 97 crore.
  • Ebitda up 24 percent at Rs 401 crore.
  • Margin at 14.4 percent from 14.7 percent.

Bayer Cropscience (Q4, YoY)

  • Revenue up 39.5 percent at Rs 300 crore.
  • Net loss of Rs 13 crore.
  • Ebitda loss at Rs 16.5 crore.

Eros International Media (Q4, YoY)

  • Revenue up 32 percent at Rs 239 crore.
  • Net profit up 79 percent at Rs 61 crore.
  • Ebitda up 129 percent at Rs 90.5 crore.
  • Margin at 37.9 percent.

KPIT Tech (Q4,QoQ)

  • Revenue up 6 percent at Rs 966 crore.
  • Net profit up 23 percent at Rs 76 crore.
  • EBIT up 8 percent at Rs 84 crore.
  • Margin at 8.7 percent.

SML Isuzu (Q4, YoY)

  • Revenue up 0.6 percent at Rs 368.1 crore.
  • Net profit up 56.8 percent at 14.9 crore.
  • Ebitda up 35.8 percent at Rs 24.3 crore.
  • Margin at 6.6 percent versus 4.9 percent.

Natco Pharma (Q4, YoY)

  • Revenue up 36 percent at Rs 768 crore.
  • Net profit up 69.5 percent at Rs 300 crore.
  • Ebitda up 58.9 percent at Rs 383.5 crore.
  • Margin at 49.9 percent versus 42.7 percent.

Rupa (Q4, YoY)

  • Revenue up 10.1 percent at Rs 420.3 crore.
  • Net profit up 70.5 percent at Rs 39.9 crore.
  • Ebitda up 66.7 percent at Rs 67.5 crore.
  • Margin at 16.1 percent.

L&T Infotech (Q4, QoQ)

  • Revenue up 6 percent at Rs 2,001 crore.
  • Net profit up 2 percent at Rs 289.5 crore.
  • EBIT down 9 percent at Rs 255.5 crore.
  • Margin at 12.8 percent.

IGL (Q4 QoQ)

  • Revenue up 4 percent at Rs 1,233 crore.
  • Net profit up 5 percent at Rs 174 crore.
  • Ebitda up 11 percent at Rs 291 crore.
  • Margin at 23.6 percent.

Shipping Corporation of India (Q4, YoY)

  • Revenue up 2 percent at Rs 917 crore.
  • Net profit up 174 percent at Rs 254.5 crore.
  • Tax credit of Rs 278 crore in current quarter.
  • Ebitda down 39 percent at Rs 140 crore.
  • Margin at 15.3 percent.

Premier Explosives (Q4, YoY)

  • Revenue up 15.1 percent at Rs 83.3 crore.
  • Net profit down 70.2 percent at Rs 2.5 crore.
  • Ebitda down 23.7 percent at Rs 5.8 crore.
  • Margin at 7 percent.

GE T&D (Q4, YoY)

  • Revenue down 32 percent at Rs 814 crore.
  • Net profit down 39.7 percent at Rs 27.8 crore.
  • Ebitda down 89.1 percent at Rs 12 crore.
  • Margin at 1.5 percent.

Shalimar Paints (Q4, YoY)

  • Revenue down 18.8 percent at Rs 60.2 crore.
  • Net loss at Rs 16.1 crore.
  • Ebitda loss at at Rs 10.3 crore.

  • Tata Power inks pact with Tata Sons for sale of 43 crore equity shares in Tata Teleservices.
  • Sunteck Realty to raise Rs 2,000 crore via issue of securities.
  • MEP Infrastructure raises FPI investment limit to 100 percent from 24 percent.
  • Mylan, Amneal, Sun Pharma lose challenge to Epilepsy drug patent.
  • Shalimar Paints to increase FPI/FII limit from 24 percent to 49 percent.

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