Indian equity benchmarks climbed, led by ONGC. The S&P BSE Sensex Index rose as much as 0.4 percent to 33,853.63, while the NSE Nifty 50 Index climbed as much as 0.3 percent to Rs 10,485.
The market breadth was tilted in favour of buyers. Seventeen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Utilities Index's 0.8 percent gain.
On the other hand, the S&P BSE Consumer Durables Index was the top sectoral loser, down 0.9 percent.
Here Are The Stocks Moving The Market This Morning
Reliance Communications: Inks Pact To Sell Big TV
Shares of the telecom operator rose as much as 4.1 percent to Rs 16.50.
The Anil Ambani-led company entered into an agreement with Veecon Media & TV to sell Reliance Big TV's DTH operations across India, according to its exchange filing.
The stock has returned a negative 53 percent so far this year and a loss of 65 percent in the past 12 months.
Reliance Communications says it isn't paying dollar bond coupon.https://t.co/doLaQpRVk2 pic.twitter.com/sHCN8N5P5J
Shreyas Shipping: Sells Vessel
Shares of the vessels operator rose as much as 2.7 percent to Rs 485.
The company sold its vessel M.V.SSL Sagarmala for a consideration of $1.24 million, according to its exchange filing.
Trading volume was 205.1 times its 20-day average. Shreyas Shipping & Logistics trades at 38.9 times trailing 12-month earnings per share.
Tata Chemicals: Sells Phosphatic Fertilisers Business
Shares of the chemical manufacturer rose as much as 2.2 percent to Rs 751.
The company its phosphatic fertilisers business, to IRC Agrochemicals Private Ltd. for Rs. 375 crore, according to its exchange filing.
The stock trades at 18.7 times its estimated forward earnings per share, compared to 12.7 times for two year historical average.
Just Dial: Declines After Earnings Announcement
Shares of the local search engine fell as much as 5.9 percent, the most in nearly three months to Rs 483.
The company announced its results for the previous quarter, according to its stock exchange notification.
Earnings Highlights:
- Revenue up 2.4 percent at Rs 194.5 crore.
- Net profit down 1.8 percent at Rs 37.5 crore.
- EBIT up 19.7 percent at Rs 39.5 crore.
- Margin at 20.3 percent versus 17.4 percent.
Other Stocks Reacting To Earnings
Torrent Power (Q2FY18, YoY)
- Stock rose as much as 6.1 percent to Rs 288.55.
- Revenue up 9 percent at Rs 2915 crore.
- Net profit up 125 percent at Rs 317.6 crore.
- EBITDA up 27 percent at Rs 838 crore.
- Margin at 28.7 percent versus 24.6 percent.
L&T Infotech (Q2FY18, QoQ)
- Stock rose as much as 3.2 percent to Rs 841.
- Revenue from operations up 4.8 percent at Rs 1,751 crore.
- Net profit up 2.2 percent at Rs 273 crore.
- EBIT up 5.1 percent at Rs 286 crore.
- Margin flat at 16.3 percent.
KEC International (Q2FY18, YoY)
- Stock rose as much as 2.7 percent to Rs 324.80.
- Revenue up 3 percent at Rs 2,132 crore.
- Net profit up 37.5 percent At Rs 89.4 crore.
- EBITDA up 16.5 percent at Rs 215.8 crore.
- Margin at 10.1 percent versus 8.9 percent.
NRB Bearings (Q2FY18, YoY)
- Stock rose as much as 4.6 percent to Rs 150.
- Revenue up 16 percent at Rs 208 crore.
- Net profit up 24 percent at Rs 21 crore.
- EBITDA up 18.5 percent at Rs 41.7 crore.
- Margin at 20 percent versus 19.6 percent.
Gujarat Industries (Q2FY18, YoY)
- Stock rose as much as 4.1 percent to Rs 144.90.
- Revenue up 2.6 percent at Rs 323.7 crore.
- Net profit up 5.5 percent at Rs 53.3 crore.
- EBITDA up 26.7 percent at Rs 119.6 crore.
- Margin at 36.9 percent versus 29.9 percent.
Gulf Oil Lubricants (Q2FY18, YoY)
- Stock rose as much as 5 percent to Rs 868.15.
- Revenue up 22.3 percent at Rs 323 crore.
- Net profit up 37.9 percent at Rs 40 crore.
- EBITDA up 40.9 percent at Rs 62 crore.
- Margin at 19.2 percent versus 16.67 percent.
Jaiprakash Power Ventures (Q2FY18, YoY)
- Stock fell as much as 5.1 percent to Rs 7.40.
- Revenue up 24.6 percent at Rs 826 crore.
- Net loss of Rs 157 crore from a loss of Rs 162 crore.
- EBITDA up 8.6 percent at Rs 303 crore.
- Margin at 36.7 percent versus 42.1 percent.
Thomas Cook (Q2FY18, YoY)
- Stock rose as much as 2.2 percent to Rs 254.
- Revenue up 27.9 percent at Rs 2,676 crore.
- Net profit up 166.67 percent at Rs 24 crore.
- EBITDA down 2.2 percent at Rs 66.5 crore.
- Margin at 2.5 percent versus 3.3 percent.
Gujarat Gas (Q2FY18, YoY)
- Stock rose as much as 5.2 percent to Rs 910.
- Revenue up 12 percent at Rs 1391.4 crore.
- Net profit down 12 percent at Rs 61 crore.
- EBITDA down 3.2 percent at Rs 202.6 crore.
- Margin at 14.6 percent versus 16.9 percent.
TRF Ltd (Q2FY18, YoY)
- Stock fell as much as 6.5 percent to Rs 232.
- Revenue up 7.3 percent at Rs 219 crore.
- Net loss of Rs 32 crore from a loss of Rs 16 crore.
- EBITDA loss at Rs 37 crore from Rs 0.5 crore
- Margin at -17 percent from 0.2 percent
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