Six Stocks In News At Noon: Adani Ports, Paras Defence, Jindal Steel And Power Among Others

At noon on Friday, benchmark indices were trading mixed, with the Nifty 50 down 0.15% at nearly 24,297 and the Sensex rising 0.08% to approximately 80,314.

Several stocks, including Federal Bank, Godrej Agrovet, and Eternal, were making headlines due to various financial triggers.

Eternal

Eternal announced its Q4 results on Thursday, and the share price went as high as 3% to reach nearly Rs 240 apiece. The stock was trading up 0.50% at Rs 233.75 apiece on Friday around noon.

In their results, revenue was up 7.9% at Rs 5,833 crore versus Rs 5,405 crore. Ebitda fell down 55.6% at Rs 72 crore versus Rs 162 crore. Profit margin contracted to 1.2% versus 3%. Net profit was down 34% at Rs 39 crore versus Rs 59 crore.

Godrej Agrovet

Godrej Agrovet's share price plunged as low as 12.76% at Rs 672 apiece on Friday. It was down 12.14% around noon at 677.15. The company announced its consolidated Q4 results on Thursday, and the only thing looking up was their net profit. Revenue was down 0.5% to Rs 2,133.64 crore versus Rs 2,144.47 crore. Ebitda was down 7% to Rs 146.68 crore versus Rs 158.21 crore. Margin shrunk to 6.9% versus 7.4%. Net profit rose 1% to Rs 66.10 crore versus Rs 65.48 crore.

Adani Ports

Share price for Adani Ports rose as high as 6.45% at 1295. The company announced its quarterly financial performance on Thursday with everything in the green. Revenue was up 23%. At Rs 8,488 crore versus Rs 6,897 crore, Ebitda rose 23.8%. to Rs 5,006 crore versus Rs 4,044 crore, the margin expanded to 59% versus 58.6%. Net profit was up 47.8%. At Rs 3,014 crore versus Rs 2,040 crore. The company assured a dividend of Rs 7 per share.

Federal Bank

Shares for the lender declined more than 4% at 188.05. The bank signed a pact to acquire a 4% stake in Ageas Federal Life Insurance Company from Ageas Insurance International and also announced their standalone earnings on Thursday. Net interest income was up 8% to Rs 2,377 crore versus Rs 2,195 crore. Net profit was up 13.7% to Rs 1,030 crore versus Rs 906 crore. Net interest margin for the quarter was at 3.11% versus 3.12%.

Paras Defence

Paras Defence was stuck in crosswinds after announcing their quarterly results on Thursday. The share price rose as much as 1.87% to Rs 1385 apiece but fell as low as 4.31% at Rs 1301 apiece. Revenue was up 35.8% to Rs 108.23 crore versus Rs 79.69 crore. Ebitda was up 131% to Rs 28.29 crore versus Rs 12.25 crore. Margin was at 26.1% versus 15.4%. Net profit up 117% to Rs 20.83 crore versus Rs 9.60 crore. The company also agreed to a stock split.

Jindal Steel and Power

JSPL share prices fell 5.82 to as low as Rs 843.55 apiece on Friday. The company's quarterly performance result was out on Thursday. Revenue went down 2.25% at Rs 13,183 crore versus Rs 13486 crore. Ebitda was down 7.11% at Rs 2271 crore versus Rs 2445 crore. A net loss was recorded at Rs 339 crore versus a profit of Rs 935 crore. Additionally, an exceptional loss of Rs 1,229 crore was also noted.