Stocks Radar: TCS, Asian Paints, Delta Corp And More 

Indian shares gained for a second straight session, shrugging off weak trade in Asian peers, as initial set of third quarter earnings from India Inc. suggest that the fears of slowdown from the demonetisation move may be overdone.

The S&P BSE Sensex climbed 0.3 percent to 27,361 and the NSE Nifty advanced 0.3 percent as well to 8,436.

Here are the stocks moving the market this morning:

Asian Paints: Narrowing Margins

Shares of the paint maker rose 1.3 percent to Rs 947 on Tuesday morning,

In an interview with BloombergQuint, KBS Anand, chief executive officer of Asian Paints said that the rising cost of raw materials will impact the company's profitability margins. Anand also said that the company will correct margins as much as they can.

Given the volatility and uncertainty of the global economy, it is likely that the U.S. Fed hike and the rupee's depreciation will only increase the pressure on raw materials, said Anand.

Tata Stocks: Tata Sons To Increase Control

Shares of the listed companies under the Tata Group banner reacted to talks of Tata Sons gradually increasing its stake in the group companies.

Natarajan Chandrasekaran, newly appointed chairman of Tata Sons has been tasked with the protection of the companies from any possible takeovers, according people with the knowledge of the matter who spoke to Bloomberg.

• Tata Consultancy Services (+1.1 percent to Rs 2,283)
• Tata Motors (+0.8 percent to Rs 530)
• Indian Hotels (+0.8 percent to Rs 102)
• Tata Power (+1 percent to Rs 78)

Delta Corp: New License Boost

The gaming and hospitality company jumped 3.4 percent to Rs 139 after it bagged the license to open up a casino in Gangtok, Sikkim.

The license has been granted under the Casino (Control & Tax) Act of 2002, the company said in a statement to the exchanges. “The company is fully ready to commence its casino operations and will do so immediately,” it added.

Reliance Industries: Earnings Reaction

Shares of the oil and gas firm fell 2.1 percent to Rs 1,054 after reporting seventh consecutive quarterly profit rise that was ahead of the analysts’ estimates. The company’s core business performance suffered during the quarter. The oil and gas segment saw weakness as revenue declined 8.4 percent to Rs 1,215 crore from Rs 1,327 crore year-on-year.

December-quarter net profit rose 4.1 percent to Rs 8,022 crore while revenue grew 3.5 percent to Rs 66,606 crore.

Gross refining margins for the third quarter stood at $10.8 per barrel against $10.1 per barrel in the previous quarter.

Also Read: RIL Takes $6-Billion Writedown On Oil & Gas Assets Under New Accounting Standards

Coal India: Possible Acquisitions

Shares of the state-owned firm rose 0.5 percent to Rs 315 on report company is looking at appointing a merchant banker to assist in acquiring assets overseas.

Coal India intends to acquire coal mines overseas with a view to importing the produce to India and enhancing the energy security of the nation, PTI reported citing an unnamed official.

Coal India, the world's largest coal miner which accounts for over 80 percent of the domestic coal production, is eyeing one billion tonnes of output by 2020.

Tata Global Beverages: Sells Stake in Chinese JV

Shares of Tata Global Beverages rose 1.4 percent to Rs 129 after the company said it would sell its stake in Chinese joint venture Zhejiang Tata Tea Extraction Co (ZTTECL).

Tata Global's board in a meeting held on Monday "deliberated and accorded an in principal approval" to divest its stake in ZTTECL "at an estimated enterprise value of Rs 33 crore", the company said in a regulatory filing.

ZTTECL is a 70:30 joint venture with Tata Global holding a 70 percent stake.

Earnings Watch

• Delta Corp (+3.4 percent to Rs 139)
• Can Fin Homes (+2.7 percent to Rs 1,782)
• Havells India (-0.8 percent to Rs 378)
• Mastek (+1.5 percent to Rs 178)
• NIIT Technologies (+0.9 percent to Rs 430)

Sensex, Nifty: Movers & Shakers

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