A pedestrian walking past the Bombay Stock Exchange (BSE) is reflected in a puddle in Mumbai, India. (Photographer: Dhiraj Singh/ Bloomberg)

Stocks Radar: 63 Moons Tech, GAIL India, IL&FS Engineering, IndusInd Bank

Indian shares advanced, with benchmark indices rebounding from their first weekly drop in four, after North Korea refrained from an expected missile test over the weekend.

The S&P BSE Sensex and the NSE Nifty Index both gained 0.5 percent at 11:22 p.m. in Mumbai. All 19 sector gauges compiled by the BSE Ltd. advanced, paced by the S&P BSE India Oil & Gas Index’s 1.1 percent rally.

Here Are The Stocks Moving The Market This Morning

IndusInd Bank, Bharat Financial: Enter Merger Talks

Bharat Financial Inclusion Ltd., on Monday, informed the stock exchanges that it has entered into exclusive talks with IndusInd Bank Ltd. to explore a merger between the two.

Shares of the micro-finance lender, earlier known as SKS Microfinance, swung between gains and losses. The stock rose as much as 2.17 percent to Rs 955.95 apiece after retreating 1.65 percent in opening early trade.

Meanwhile, IndusInd Bank rose as much as 1.68 percent to Rs 1,724, a new lifetime high for the stock.

IL&FS Engineering: Contract Terminated

Shares of the construction service provider declined 0.6 percent after gaining as much as 9.2 percent, the most in over a month, in opening trade.

The company has received a letter from Paschimanhal Vidyut Vitran Nigam Limited, Meerut (PVVNL) for termination of the contract for rural electrification works of villages of Moradabad district citing “slow progress/stoppage of balance works".

The impact to the company due to the termination of the contract is Rs 46 crore bank guarantee held by the client and unpaid bills of Rs 57 crore, IL&FS said in an exchange filing.

The company said the termination was illegal and therefore it plans to initiate the process of legal/contractual actions against the said termination.

Idea Cellular: Seeks Investors Nod For Merger

Shares of the Aditya Birla Group company snapped six-day decline and rose as much as 2.4 percent, the most in nearly two-weeks, to Rs 81.50. The telecom operator is scheduled to seek investors approval for the merger with Vodafone on October 12, according to its exchange filing.

The analyst consensus price target was Rs 94.67, implying a potential upside of 18.8 percent from the current price. The stock declined 1.9 percent in the previous month, against the decline of 0.6 percent in the S&P BSE Telecom Index.

Eicher Motors: HSBC Downgrades Stock Rating, Hikes Target Price

Shares of the Royal Enfield owner declined for the second straight trading session and fell as much as 0.7 percent to Rs 32,400.

Brokerage house HSBC downgraded the stock rating to ‘Hold’ from ‘Buy’ and hiked the target price to Rs 35,000 from Rs 30,500, according to its research report. The hike in target price implies a potential upside of 7.2 percent from the current market price.

Eicher Motors trades at 53.1 times trailing 12-month earnings per share. The stock has returned 50 percent so far this year and a gain of 43 percent in the past 12-months.

Onward Technologies: Signs Pact With Dassault Systemes

Shares of the information technology company extended gains for the second day and rose as much as 5.1 percent to Rs 131.

The Mumbai-based company entered into a partnership with Dassault Systemes to expand its offerings from engineering services to industry solutions, according to its exchange filing.

The stock has returned 100.9 percent so far this year, compared to the gain of 20.9 percent in the S&P BSE Sensex Index.

Stocks Reacting To Earnings

Asian Oilfield Services (Q1FY18 YoY)

  • Stock rose as much as 7.9 percent, the most in over a month, to Rs 209
  • Net profit of Rs 11 crore versus net loss of Rs 6 crore
  • Revenue up more than 5 times to Rs 51 crore versus Rs 9 crore
  • EBITDA at Rs 12 crore versus Rs 3 crore
  • Margin at 23.5 percent versus -33.3 percent

Federal Mogul Goetze (Q1FY18 YoY)

  • Stock rose as much as 7.6 percent, the most in over six months to Rs 560
  • PAT up 29.4 percent at Rs 22 crore
  • Revenue up 0.5 percent at Rs 366 crore versus Rs 364 crore
  • EBITDA up 18.4 percent at Rs 51.5 crore
  • Margin at 15.7 percent versus 13.2 percent

Kirloskar Electric (Q1FY18 YoY)

  • Stock fell as much as 12.2 percent, the most since November 2016, to Rs 47
  • Net loss of Rs 24 crore versus net profit of Rs 2 crore
  • Other income of Rs 11 crore in base quarter
  • Revenue down 37 percent at Rs 103 crore
  • EBITDA loss at Rs 18 crore versus EBITDA profit of Rs 3.52 crore
  • Margin at -19.1 percent versus 2.7 percent

Omax Auto (Q1FY18 YoY)

  • Stock fell as much as 6.7 percent, the most in a month to Rs 66.10
  • Net loss of Rs 22 crore versus net profit of Rs 30 lakh
  • Revenue down 9.8 percent at Rs 275 crore
  • EBITDA loss at Rs 13.5 crore versus EBITDA profit Rs 10 crore
  • Margin at -5.5 percent versus 3.7 percent

Stocks Reacting To Bulk Deals

63 Moons Tech

  • Stock rose as much as 8.6 percent to Rs 78.85
  • Blackstone GPV Capital Partners (Mauritius) VI FII sold 9.8 lakh shares or 2.1 percent stake at Rs 78.14 each

Gulf Oil Lubricants India

  • Stock rose as much as 2.1 percent to Rs 832.80
  • Promoters Gulf Oil International (Mauritius) Inc. bought 6.91 lakh shares or 1.4 percent stake at Rs 777 each
  • IAM Ltd sold 6.91 lakh shares (1.4 percent) at Rs 777 each