Stocks Radar: HPCL, GVK, BGR Energy And More
The S&P BSE Sensex declined 0.1% to 28,313 while the NSE Nifty fell 0.2% to 8,785.
Indian shares fluctuated between gains and losses, tracking a faltering global rally as automakers dragged while banking stocks lent support.
The S&P BSE Sensex declined 0.1 percent to 28,313 while the NSE Nifty fell 0.2 percent to 8,785. The market breadth was firmly skewed in favour of the sellers. About 553 stocks advanced, 953 declined and 396 remained unchanged on the NSE.
Barring the Nifty PSU Bank Index (up 0.4 percent), all other 10 sectoral gauges on the exchange declined.
Here are the stocks moving the market:
GVK Jumps To 1-Year High On Navi Mumbai Airport Nod
Shares of the airport operator jumped as much as 17 percent to highest since February of last year after the company-led consortium bagged the rights to develop the Navi Mumbai Airport.
The stock was the best performer on the Nifty 500 index with volume at 6.2 times its three-month full-day average. It was the most traded stock by volume.
The size of the contract remains undisclosed as of now. However, the total projected cost for the airport was Rs 14,574 crore in financial year 2013, according to information on CIDCO's website.
Infibeam Incorporation: New Investment Boost
Shares of the company rose as much as 5.38 percent to Rs 1,438 after it invested Rs 150 crore in one of India's largest payment aggregators Avenues (India) Pvt. Ltd.
The investment has been made to acquire 7.5 percent of equity shares of Avenues. Infibeam's wholly-owned subsidiary owns 3.85 percent of equity shares of Avenue
The company said, Avenue will be subsequently merged with Infibeam.
Stocks Reacting To Earnings
- Adani Transmission (down over 1 percent): Q3 profit Rs 99.28 crore versus Rs 74.78 crore
- Ahluwalia Contracts (down 0.2 percent): Q3 net Rs 24.45 crore versus Rs 19.84 crore
- BEML (up 1.9 percent): Q3 profit Rs 21.74 crore versus Rs 9.73 crore
- BGR Energy (up 7.5 percent): Q3 net Rs 10.48 crore versus Rs 8.82 crore loss
- Container Corp. (down 3.24 percent): Q3 net beats estimate; approves free share issue
- Dishman Pharma (down 3.2 percent): Q3 net Rs 50.68 crore versus Rs 44.76 crore
- Entertainment Network (down 0.8 percent): Q3 net Rs 16.41 crore versus Rs 28.86 crore
- GlaxoSmithKline Consumer (up 0.4 percent): Q3 net Rs 136 crore; estimate Rs 121 crore
- Hindustan Petroleum (down 3.8 percent): Q3 profit jumps 53 percent YoY to Rs 1,590 crore; to raise up to Rs 6,000 crore debt in FY18, chairman says
- Jaiprakash Power (down 4.4 percent): Q3 loss Rs 173 crore versus Rs 116 crore loss
- MMTC (up 6.6 percent): Q3 net Rs 74.43 crore versus Rs 19.89 crore
- Muthoot Finance (up 1.9 percent): Q3 net Rs 290 crore versus Rs 187 crore; to raise Homefin unit stake to 88.3 percent
- NMDC (down 1.5 percent): Q3 profit Rs 595 crore versus Rs 421 crore
- Petronet LNG (down 0.5 percent): Q3 net Rs 397 crore; estimate Rs 383 crore
- Reliance Infra (down 0.9 percent): Q3 net income Rs 375 crore versus Rs 252 crore
- Repco Home (down 6.81 percent): Q3 net income Rs 46.44 crore versus Rs 38.58 crore
- National Aluminium (up 0.9 percent): Q3 net Rs 144 crore; estimate Rs 182 crore
- SJVN Ltd. (up 4.2 percent): Q3 profit Rs 260 crore versus Rs 220 crore YoY
Analyst Ratings/Research
- HPCL cut to sell from outperform at CLSA
- Hindalco raised to buy versus accumulate at Prabhudas Lilladher
- Aurobindo Pharma cut to add versus buy at Spark Capital
- Mahanagar Gas cut to hold versus buy at Jefferies
- Tata Consultancy raised to hold versus sell at Religare
- Wipro raised to hold versus sell at Religare
- Coal India rated new reduce at CIMB
- Tech Mahindra raised to hold versus sell at Religare