Stocks Radar: BHEL, Jubilant Foodworks, Reliance Communications, Thermax
Here are the stocks moving the market this morning.
Indian equity benchmarks climbed, led by oil stocks after Oil Minister Dharmendra Pradhan said on Wednesday that the government will not step in to check rising petrol and diesel prices at a media conference.
The S&P BSE Sensex index rose as much as 0.43 percent to 32,323.57, while the NSE Nifty 50 Index 0.47 percent to Rs 10,126.50.
As many as 17 out of 19 sector gauges compiled by BSE Ltd were trading higher, led by the S&P BSE Oil & Gas Index's 1.1 percent advance. The market breadth firmly tilted in favour of buyers. About 1,144 stocks advanced and 387 stocks declined on the NSE.
Here Are The Stocks Moving The Market This Morning
BHEL: Jumps On Bullet Train Deal
Shares of Bharat Heavy Electricals Ltd. (BHEL) rose as much as 8.9 percent, the most in over a year to Rs 144.25. The power equipment maker will tie-up with Kawasaki to make Bullet train rolling stock, according to Bloomberg report.
BHEL trades at 76.2 times trailing 12-month earnings per share. The stock rose 12 percent in the past month, against 2.8 percent advance in the Sensex Index.
Thermax: Wins Order
Shares of the boiler manufacturers extended gains for the fifth day and rose as much as 3.6 percent to Rs 930.
The company bagged its first engineering, procurement, and construction (EPC) order from a cement company in UAE for worth $43 million, according to its exchange filing.
Trading volume was 96.4 times the 20-day average. Thermax trades at 46.6 times trailing 12-month earnings per share.
Jubilant Foodworks: Clarifies On Bugs Reports
Shares of the Domino’s Pizza operator in India rose as much as 4.3 percent to Rs 1,380.
On Wednesday, the Indian Express reported that a Delhi-based resident posted a video of bugs crawling out of the seasoning sachet. The customer allegedly found insects in the sachets a day after the order was delivered, the report said.
The company said that it has carried out comprehensive inspection across vendors and stores, and reassures that the food ingredients are safe for consumption, according to its statement on an exchange.
Jubilant Foodworks trades at 67.9 times estimated forward earnings per share against 48.8 times for the two-year historical average. So far this year, the stock has returned 61 percent, compared to 21.32 advance in the country's equity benchmark - S&P BSE Sensex Index.
Reliance Communications: Ericsson Files Insolvency Case
Shares of the telecom operator extended decline for the second trading session and fell as much as 2.5 percent to Rs 21.20.
The Anil Ambani-led company said that Ericsson India Private Limited has filed a petition under IBC Provisions against the company in Mumbai Bench of National Company Law Tribunal (NCLT) for recovery of an amount of Rs.491.41 crore, according to its exchange notification.
The stock has returned a negative 36 percent so far this year and a loss of 57 percent in the past 52 weeks.
Strides Shasun: FDA Boost
Shares of the drug maker extended gains for the sixth trading session and rose as much as 2.5 percent to Rs 982.
The pharmaceutical company said that it has received a go-ahead from the U.S. Drug Regulator for its Citrate Extended-Release tablets, used for the treatment of kidney stones, an exchange notification said.
Among the nine analysts tracked by Bloomberg, eight have a 'Buy' rating on the stock, while one has a 'Hold' rating.
Strides Shasun trades at 19.6 times trailing 12-month earnings per share and 23 times its estimates for the coming year.
Stocks Reacting To Earnings
ISMT (Q1FY18, YoY)
- Stock rose as much as 8.3 percent to Rs 12.35
- Revenue up 8.8 percent to Rs 308 crore
- EBITDA up 69 percent at Rs 13.5 crore
- Margin at 4.8 percent from 3.1 percent
- Net loss of Rs 64 crore from a loss of Rs 76 crore
Sandur Manganese (Q1FY18, YoY)
- Stock rose as much as 7.7 percent to Rs 931
- Revenue up 45 percent to Rs 129 crore
- EBITDA at Rs 27.5 crore
- Margin at 22 percent from 8 percemt
- Profit up 236 percent to Rs 18.5 crore
WPIL (Q1FY18, YoY)
- Stock rose as much as 6.7 percent to Rs 542
- Revenue up 81 percent to Rs 76 crore
- EBITDA up 33 percent to Rs 8 crore
- Margin at 10.8 percent from 15 percent
- Profit up 67 percent at Rs 5 crore
Lovable Lingerie (Q1FY18, YoY)
- Stock swung between gains and losses and traded at Rs 240.70
- Revenue down 9.7 percent at Rs 60.5 crore
- EBITDA down 33 percent at Rs 8 crore
- Margin at 13.2 percent versus 17.9 percent
- PAT down 50 percent at Rs 6 crore
Minda Corp (Q1FY18 YoY)
- Stock rose as much as 2.6 percent to Rs 136
- Revenue up 19 percent to Rs 623 crore
- EBITDA down 10.2 percent to Rs 44 crore
- Margin at 7.6 percent from 10 percent
- Profit down 9.8 percent to Rs 23 crore