India's benchmark equity indices climbed to fresh records after a report showed the nation has made it easier to do business, underpinning optimism that government efforts to boost competitiveness are gaining traction.
The S&P BSE Sensex rose 1.1 percent to 33,578 while the NSE Nifty 50 Index jumped 1 percent as of 10:16 a.m. All 19 sector gauges compiled by BSE climbed led by the S&P BSE Telecom Index.
Here Are The Stocks Moving The Market This Morning
Bharti Airtel: Mulls Stake Sale In Tower Arm
Shares of Bharti Airtel rose 4.9 percent to Rs 522 today, the highest since December 2007, after it delivered a stable set of a quarterly earnings on easing in the pricing pressures. Most brokerages maintained their outlook on the Sunil Mittal-led telecom operator and reiterated it as the best play on consolidation in the sector.
Earnings Highlights:
- Revenue down 0.8 percent to Rs 21,777 crore
- EBITDA up 2 percent to Rs 7,922 crore
- EBITDA margin at 36.4 percent versus 35.3 percent
- ARPU down 5.8 percent to Rs 145 from Rs 154
The stock was the best performer on both Sensex and Nifty.
Bharti Airtel to evaluate selling majority stake in tower arm, reports @sajeetkm.https://t.co/sPK8kB9j92 pic.twitter.com/0hrwLFovpU
InterGlobe Aviation: Soars After Earnings
Shares of the budget airline operator rose as much as 4.1 percent, the most in two weeks to Rs 1,298.70.
The company's net profit jumped 294 percent year-on-year to Rs 551.5 crore, according to its stock exchange notification.
Earnings Highlights:
- Revenue up 27 percent at Rs 5,291 crore
- Net profit up 294 percent at Rs 551.5 crore
- EBITDAR up 61 percent at Rs 1,557.5 crore
- Margin at 29.43 percent versus 23.23 percent
Trading volume was 46.6 times, its 20-day average. The relative strength index (RSI) was 76, indicating that the stock may be overbought.
#Q2WithBQ | Here's all you need to know about IndiGo's earnings.https://t.co/kqr1NTAy83 pic.twitter.com/MPPdV4JspV
Escorts: October Sales Rise
Shares of the tractor manufacturer rose as much as 1.4 percent to Rs 749.80.
The company's total sales in October stood at 10,205 units, an increase of 13.8 percent from the corresponding period during the previous year, according to its exchange notification.
Escorts Ltd trades at 52.5 times trailing 12-month earnings per share and 24 times its estimates for the coming year. The stock has returned 160 percent so far this year and a gain of 103 percent in the past 12 months.
SpiceJet: Jumps After Block Deal
Shares of the budget carrier rose as much as 7.5 percent, the most in nearly two months to hit a record high at Rs 154.
About 13 lakh shares changed hands in a block deal today, according to Bloomberg data. Buyers and sellers were immediately not known.
Trading volume was 27.1 percent, its 30-day average. The stock has returned 169 percent so far this year and a gain of 111 percent in the past 12 months.
More Stocks Reacting To Earnings
Syndicate Bank (Q2FY18, YoY)
- Stock rose as much as 14.1 percent to Rs 94.15.
- Net interest income up 6.8 percent at Rs 1649.5 crore.
- Net profit up 27.4 percent at Rs 105 crore.
- Provisions down 33 percent at Rs 891 crore (QoQ).
- GNPA at 9.39 percent from 9.96 percent (QoQ).
- NNPA at 5.76 percent from 6.27 percent (QoQ).
Swaraj Engines (Q2FY18, YoY)
- Stock rose as much as 0.6 percent to Rs 2,105.05.
- Revenue up 16.75 percent at Rs 209 crore.
- Net profit up 23.68 percent at Rs 23.5 crore.
- EBITDA up 20.68 percent at Rs 35 crore.
- Margin at 16.74 percent from 16.2 percent.
Cholamandalam (Q2FY18, YoY)
- Stock rose as much as 5.2 percent to Rs 1,211.
- Revenue from operations up 12 percent at Rs 1,313 crore.
- Net profit up 36 percent at Rs 228 crore.
- Net interest margin at 9.6 percent from 9.5 percent (QoQ).
IIFL Holdings (Q2FY18, YoY)
- Stock rose as much as 10.5 percent to Rs 676.15.
- Revenue up 31 percent at Rs 1585.5 crore.
- Net interest income up 40 percent at Rs 933.5 crore.
- Net profit up 25.1 percent at Rs 229 crore.
VST Industries (Q2FY18, YoY)
- Stock rose as much as 5.9 percent to Rs 3,324.90.
- Revenue down 2 percent at Rs 219.5 crore.
- Net profit up 41.9 percent at Rs 44 crore.
- EBITDA up 39 percent at Rs 69.5 crore.
- Margin at 31.6 percent from 22.3 percent.
Sanofi India (Q2FY18, YoY)
- Stock rose as much as 14.8 percent to Rs 4,798.
- Revenue up 4.6 percent at Rs 667.5 crore.
- Net profit up 50 percent at Rs 12 crore.
- EBITDA up 32 percent at Rs 161 crore.
- Margin at 24.11 percent from 19.12 percent.
KPIT Technologies (Q2FY18, YoY)
- Stock rose as much as 2.3 percent to Rs 151.70.
- Revenue up 5.5 percent at Rs 916 crore.
- Net profit up 8.2 percent at Rs 60 crore.
- EBITDA up 13.2 percent at Rs 90 crore.
- Margin at 9.8 percent from 9.15 percent.
Blue Star (Q2FY18, YoY)
- Stock fell as much as 3.9 percent to Rs 779.70.
- Revenue down 6 percent at Rs 836 crore.
- Net profit up 5 percent at Rs 21 crore.
- EBITDA up 14.6 percent at Rs 47 crore.
- Margin at 5.6 percent versus 4.6 percent.
Zee Media Corporation (Q2FY18, YoY)
- Stock rose as much as 3.6 percent to Rs 44.20.
- Revenue up 23.8 percent at Rs 125 crore.
- Net profit of Rs 1.8 crore from net loss of Rs 18 crore.
- EBITDA down 4 percent at Rs 22 crore.
- Margin at 17.6 percent from 22.77 percent.
JSW Steel (Q2FY18, YoY)
- Stock rose as much as 3.3 percent to Rs 266.85.
- Net sales up 27.14 percent at Rs 16,818 crore.
- Net profit up 29 percent at Rs 836 crore.
- EBITDA up 3.51 percent at Rs 3,036 crore.
- Margin at 18 percent from 22.2 percent.
Divi's Laboratories (Q2FY18, YoY)
- Stock rose as much as 4.7 percent to Rs 923.85.
- Revenue down 11 percent at Rs 890 crore.
- Net profit down 7 percent at Rs 207 crore.
- EBITDA down 5 percent at Rs 276 crore.
- Margin at 31.0 percent from 28.9 percent.
Sintex Plastics Technology (Q2FY18, QoQ)
- Stock fell as much as 5.8 percent to Rs 87.60.
- Revenue down 7.4 percent at Rs 1,433 crore.
- Net profit down 62.3 percent at Rs 26 crore.
- EBITDA down 17.4 percent at Rs 192 crore.
- Margin at 13.39 percent from 15 percent.
EIH Associated Hotels (Q2FY18, YoY)
- Stock fell as much as 4.5 percent to Rs 352.
- Revenue down 6 percent at Rs 46.55 crore.
- Net loss of Rs 1.4 crore from a net profit of Rs 1.6 crore.
- EBITDA down 76 percent at Rs 1.55 crore.
- Margin at 3.3 percent from 13.1 percent.
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