Stocks Radar: Airtel, CARE Ratings, Eicher Motors, Jet Airways, Talwalkars Group

Indian equity benchmarks extended their declines for second straight trading session on Friday. The S&P BSE Sensex and the NSE Nifty 50 Index dropped as much as 0.9 percent to 36,700.93 and 10,876.90, respectively, as of 9:57 a.m.

The market breadth was tilted in favour of sellers. All the 11 sectoral gauges compiled by the National Stock Exchange traded lower, led by a 2.38 percent decline in the NSE Nifty Realty Index.

Here's a look at the stocks in news moving the markets today:

Talwalkars Group Shares Hit Lower Circuit

Shares of Talwalkars Better Value Fitness Ltd. and Talwalkars Healthclubs Ltd. hit the lower circuits of 5 percent for a twelfth straight session.

• Talwalkars Better Value Fitness failed to pay interest of about Rs 94 lakh due on July 31. Its interest default came on a loan of Rs 98.86 crore, which it had borrowed from Axis Bank Ltd., South Indian Bank Ltd. and Andhra Bank.
• Talwalkars Healthclubs defaulted in payment of loan interest worth Rs 2.5 crore due on July 31. Its interest default came on loan of Rs 279.99 crore borrowed from Axis Bank, South Indian Bank, Hero Fincorp, Indian Bank and Andhra Bank.

Eicher Motors Skids After July Sales Fall

Shares of Eicher Motors Ltd. snapped their two-day gain and fell as much as 2.59 percent to Rs 16,133.20 apiece today. That came after Royal Enfield sales declined 22 percent year-on-year to 54,185 units in July.

• Sales of models with engine capacity up to 350cc fell 29 percent to 45,041 units.
• Sales of models with engine capacity over 350cc rose 71 percent to 9,144 units.
• Exports shot up 143 percent to 5,003 units.

Eicher Motors trades at 20 times its estimated earnings per share for the coming year, Bloomberg data showed.

Jet Airways Hits Upper Circuit

Shares of Jet Airways (India) Ltd. hit the upper circuit of 5 percent at Rs 36.90 apiece.

This came on the back of a report that said four parties are interested to bid for Jet Airways. The talks for a potential bid, however, are still in early stages, Mint reported quoting a person aware of the development.

The stocks's trading volume was 39 percent above the 20-day average for this time of the day. It trades 118 percent below the Bloomberg consensus one-year target price.

Bharti Airtel Gains After Q1 Results

Shares of Bharti Airtel Ltd. snapped a two-day fall and rose as much as 4.63 percent to Rs 338.90 apiece after the telecom firm reported its biggest ever quarterly loss since going public in 2002.

The Rs 2,866 crore June quarter loss, however, masks the underlying recovery Airtel has made since it changed its strategy to focus on fewer, better-paying users.

In the April-June period, Airtel's average revenue per user stood at Rs 129 against Rs 105 a year ago and Rs 123 as on March 31—a rise for the third straight quarter. Its adjusted ARPU in India stood at Rs 127—the highest in seven quarters.

The stock's trading volume was more than 20 times the 20-day average for this time of the day, Bloomberg data showed.

Airtel Q1 Results 2019-20: Key Highlights (QoQ)

• Revenue rose 0.7 percent to Rs 20,738 crore.
• Net loss stood at Rs 2,866 crore versus a net profit of Rs 107 crore.
• Ebitda rose 25 percent to Rs 8,289 crore.
• Margin stood at 40 percent against 32.2 percent.

CARE Ratings Shares At Six-Year Low

Shares of CARE Ratings Ltd. hit the lower circuit, falling 20.05 percent to Rs 486.70 apiece for the second straight session, after the ratings agency's net profit fell 46.6 percent quarter-on-quarter to Rs 134.90 crore.

Its trading volume was almost 80 times the 20-day average for this time of the day, Bloomberg data showed.

CARE Ratings Q1 Results 2019-20: Key Highlights (QoQ)

• Revenue fell 16.8 percent to Rs 499.2 crore.
• Net profit was down 46.4 percent to Rs 134.9 crore.
• Ebitda declined 64 percent to Rs 105.3 crore.
• Margins stood at 21.1 percent versus 48.6 percent.