Stocks Radar: Tata Motors, Intellect Design Arena, Sun Pharma And More
Markets continue to remain little changed for the sixth day in a row.
Indian shares got off to yet another tepid start as investors continued to remain on the sidelines due to lack of cues. Auto, healthcare and real estate stocks led list of losers, while banks and energy producers provided support.
The S&P BSE Sensex gained 0.1 percent to 28,360 while the NSE Nifty 50 rose 0.2 percent to 8,816. The market breadth was skewed in favour of the sellers. About 934 stocks declined, 584 advanced and 388 remained unchanged on the NSE.
Seven out of the 10 sectoral gauges declined on the exchange.
Here are the stocks that are moving the markets:
Tata Motors: Falls For Fifth Day On Earnings Miss
Shares of the automaker fell as much as 8.5 percent to Rs 440, for the fifth day in a row after the company’s net profit for the October-December quarter declined a whopping 90 percent. A five percentage point contraction in margins for its subsidiary Jaguar Land Rover was the key trigger behind the fall.
The fall in Tata Motors reflected in the performance of the S&P BSE Auto Index as well. The sectoral gauge fell the most in two months and extended its losses for the fourth straight day. The index fell as much as 2 percent to 21,487.
Intellect Design Arena: Rakesh Jhunjhunwala Sells Stake
Shares of the banking financial technology company fell as much as 10.5 percent to its 52-week low of Rs 107.75, after investors Rakesh Jhunjhunwala and Rekha Jhunjhunwala sold a combined 4.2 percent stake.
The company had posted a consolidated net loss of Rs 15.56 crore in the October-December quarter compared to a net loss of Rs 11.91 crore in the year-ago period.
Stock Reaction To Earnings
- Sun Pharma (down 3.65 percent to Rs 625.60): Q3 net profit falls 4.7 percent to Rs 1,472 crore on higher tax expense. Falls for the seventh day in a row
- Spicejet (down 2.62 percent to Rs 62.60): December quarter profit drops 24 percent to Rs 181 crore, but higher than estimates.
- HDIL (down 4.45 percent to Rs 65.50): Lower sales dragged Q3 sales by 84 percent to Rs 16 crore
- DLF (down 4.98 percent to Rs 140.10): Third quarter profits fall 46 percent to Rs 98 crore, margins shrink to 46.5 percent.
- JSPL (up 6.47 percent to Rs 93.80): Consolidated losses for the December quarter narrows to Rs 408 crore
- Cox & Kings (down 6.34 percent to Rs 184.60): Q3 profit more than doubles to Rs 36 crore as against Rs 17 crore while revenue grows 5 percent.
- Adani Enterprises (up 5 percent To Rs 95.30): Q3 net profit jumps 62 percent to Rs 340 crore on the back of improved revenue.