Stocks Radar: Lupin, Reliance Capital, HCL Infosystem
Here are the stock moving the market this morning.
Indian equity benchmarks climbed, snapping two-day decline, led by Bharti Infratel Ltd. and Indian Oil Corporation Ltd. Both S&P BSE Sensex Index and NSE Nifty 50 Index rose as much as 0.7 percent to 31,484 and 9,828.45, respectively.
The market breadth was tilted in favour of the buyers. About 815 stocks advanced, while 646 declined on the NSE.
Here Are The Stock Moving The Market This Morning
Lupin: Gains On EIR Report
Shares of the drug maker snapped four-day decline and rose as much as 2.9 percent, the most in over a week, to Rs 950.95.
The pharmaceutical company received an Establishment Inspection Report (EIR) from U.S. Food and Drug Administration for its Aurangabad unit, after carrying out an inspection in April 2017, according to the company’s exchange notification.
The stock was the second-best performer on Nifty 50 Index. The Relative Strength Index (RSI) was 25, indicating that the stock may be oversold.
Reliance Capital: Gains Free Share Offer
Shares of the insurance company rose as much as 1.5 percent to Rs 786.80. The company said in an exchange notification that about 10 lakh investors will be allotted one free share of Reliance Home Finance Ltd. for each share held in Reliance Capital.
Reliance Home Finance is proposed to be independently listed on stock exchange, subject to regulatory approvals, the insurance company said.
About 50 percent of the analysts covering the company have changed its price targets over the past month (two up, two unchanged), according to Bloomberg data, The analyst consensus price target is Rs 797.75, a potential upside of 2.9 percent from the current market price.
Biocon: Transfers Biosimilars Business To Unit Subsidiary
Shares of the biotechnology company rose as much as 1.5 percent to Rs 332.40. The company’s board approved the transfer of a share on Monday, by way of a slump sale to its subsidiary, Biocon Biologics Ltd., according to its exchange filing.
So far this year, Biocon has returned 4.2 percent, compared to 18.15 percent advance in S&P BSE Sensex Index.
HCL Infosystems: Signs Pact With Apple
Shares of the information technology company snapped two-day decline and rose as much as much as 18.1 percent, the most in over a month to 50.65. The company signed a pact with Apple India to distribute Apple products in India, according to its exchange filing.
Trading volume was 11.1 times, its 30-day average. The stock has returned a negative of 14 percent so far this year and a gain of 19 percent in the past 12-months.
Stocks Reacting To Earnings
Shirpur Gold Refinery (Q1FY18, YoY)
- Stock rose as much as 8.2 percent, the most in over a month to Rs 150.40
- Net profit of Rs 2.8 crore against a loss of Rs 40 lakh.
- Revenue up 54.8 percent to Rs 1303.5 crore.
- Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 129 percent to Rs 16 crore.
- EBITDA margin expanded 40 basis points to 1.2 percent.
S Chand And Company (Q1FY18, YoY)
- Stock fell as much as 3 percent to Rs 476.85
- Net loss of Rs 8 crore versus loss of Rs 11 crore
- Revenue grew 81.2 percent to Rs 29 crore
- EBITDA loss narrowed to Rs 11.9 crore from a loss of Rs 14.4 crore
- EBITDA margin stood at -41 percent versus -90 percent
Stocks Reacting Post Bulk Deals
Manappuram Finance
- Stock rose as much as 3.3 percent to Rs 97.7
- Quinag Acquisition bought 4.36 crore shares (5.2 percent) at Rs 93.89 each on an average
Eros Media
- Stock rose as much as 2.9 percent to Rs 185.45
- Promoters Eros Worldwide sold 6 lakh shares (0.64 percent) at Rs 183.51 each
Gravita India
- Stock rose as much as 1.6 percent to Rs 113.15
- Atul Kuchhal sold 5.25 lakh shares (0.77 percent) at Rs 111 each. He held 2.79 percent stake as of June.
Websol Energy System
- Stock rose as much as 3.5 percent to Rs 120.80
- India Max Investment Fund sold 1.49 lakh shares (0.66 percent) at Rs 118.59 each
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