Stocks Radar: Suzlon Energy, Berger Paints, Adlabs Entertainment
Indian equity benchmarks opened at a record, led by the banking stocks. The S&P BSE Sensex Index rose as much as 0.4 percent to 37,695.17 and the NSE Nifty 50 Index gained as much as 0.3 percent to trade above 11,400 as of 10:15 a.m.
The market breadth was tilted in favour of buyers. Seven of the 11 sectoral gauges compiled by the National Stock Exchange Ltd., advanced led by the NSE Nifty PSU Bank Index's 1.5 percent jump. The NSE Nifty Pharma Index was the biggest loser, down 0.84 percent.
Here Are The Stocks Moving The Market This Morning
Suzlon Energy Falls After Suffering A Loss In First Quarter
Shares of the wind turbine maker fell as much as 5.7 percent to Rs 7.50 apiece.
The renewable energy solutions provider suffered a net loss of Rs 572.8 crore for the April-June period compared with a net profit of Rs 47.84 crore a year ago, according to its exchange filing. Its revenue during the quarter declined 50.5 percent to Rs 1,277.5 crore.
The stock's trading volume was 15.2 times the 20-day average, Bloomberg data showed.
Key Earning Highlights (First Quarter; Year-On-Year)
- Earnings before interest, tax, depreciation and amortisation were down 83.8 percent to Rs 77 crore.
- Forex gain of Rs 253.6 crore against Rs 42.4 crore.
Berger Paints Gains As Earnings Beat Estimates
Shares of the paints maker snapped their two-day decline and gained as much as 2.04 percent to Rs 314.25 apiece.
The company's net profit during the June quarter rose 19.5 percent to Rs 135 crore. That compares with Rs 131 crore consensus estimate of analysts tracked by Bloomberg.
Key Earning Highlights (Q1: Y-o-Y)
- Revenue was up 18.9 percent to Rs 1,483 crore.
- Ebitda rose 22.6 percent to Rs 227 crore.
- Margin stood at 15.3 percent against 14.8 percent.
The stock trades at 66.2 times trailing 12-month earnings per share, Bloomberg data showed.
ICRA Rises On Buyback Proposal
Shares of the credit rating agency gained as much as 6.08 percent to Rs 3,576.20 apiece.
ICRA said its board is scheduled to meet on Aug. 9 to consider a buyback proposal of its equity shares.
The stock trades at 34.8 times trailing 12-month earnings per share and is 9.9 percent below the Bloomberg consensus one-year target price.
Adlabs Declines Though Loss Narrows
Shares of entertainment company snapped their six-day gain and dropped as much as 4.42 percent to Rs 35.85 apiece.
The ‘Imagica' owner's net loss for the April-June quarter narrowed to Rs 20.9 crore from Rs 22.5 crore a year ago. Its revenue fell 2.2 percent to Rs 84.7 crore.
The stock trades 56 percent below the Bloomberg consensus one-year target price.
Key Earning Highlights (Q1: Y-o-Y)
- Ebitda rose 5.9 percent to Rs 34.1 crore.
- Margin stood at 40.3 percent versus 37.2 percent.
Premier Explosives Climbs After Coal India Deal
Shares of the industrial explosives maker gained as much as 6.60 percent to Rs 275 apiece.
The company said it has bagged a Rs 68.9-crore deal from Coal India.
The stock's trading volume was 14.8 times the 20-day average and trades at 36.5 times trailing 12-month earnings per share, according to Bloomberg data.
Entertainment Network Gains After Reporting Profits
Shares of the radio station operator climbed as much as 4.42 percent to Rs 744.45 apiece on higher earnings.
Key Earning Highlights (Q1: Y-o-Y)
- Revenue was up 16.4 percent to Rs 121.6 crore.
- Net profit jumped 102.2 percent to Rs 9.3 crore.
- Ebitda rose 65.5 percent to Rs 28.3 crore.
- Margin stood at 23.3 percent against 16.4 percent.
The stock's trading volume was 69.2 times the 20-day average, Bloomberg data showed.
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