Stocks Radar: Engineers India, GVK Power, PNB Housing, Quess Corp
Indian equity benchmarks snapped three-day decline head of the derivatives expiry for the month of October, which is due later today.
The S&P BSE Sensex Index fell as much as 0.6 percent to 32,835.06, while the NSE Nifty 50 Index slipped as much as 0.2 percent to 10,271.85.
The market breadth was however tilted in favour of buyers. Six out of 11 sector gauges compiled by the National Stock Exchange were trading lower led by Nifty Private Bank Index.
Here Are The Stocks Moving The Market This Morning
L&T: Wins Order
Shares of the infrastructure major extended gains for the third trading session and rose as much as 2.4 percent to Rs 1,232.70.
The construction company won orders worth Rs 3,551 crore across various segments, according to its media statement on the exchanges.
The stock has returned 37.8 percent so far this year, compared to the 25.6 percent advance in Sensex.
HDFC Bank: Classifies Account As NPA
Shares of the country’s largest lender extended decline for the second straight trading session and fell as much as 6.1 percent, the most in five months to Rs 1,685
The Mumbai-based bank was asked by the RBI to classify one of its account as a non-performing asset, according to its exchange filing.
The stock was the second-worst performer on the Nifty Bank Index. It trades at 29.3 times trailing 12-month earnings per share and 25 times its estimates for the coming year.
GVK Power: Wins Order For Navi Mumbai Airport
Shares of the infrastructure company extended gains for the seventh consecutive trading session and rose as much as 5.7 percent, the most in over two months to Rs 16.33.
The company received an order for Navi Mumbai Airport Project from City & Industrial Development Corporation (CIDCO), according to its exchange notification.
Trading volume was 22.9 times its 30-day average. The Relative Strength Index (RSI) was 83, indicating that the stock may be overbought.
Quess Corp: Jumps After Strong September Quarter Results
Shares of the integrated business services provider extended gains for the third consecutive trading session and rose as much as 9 percent, the most in nearly five months to Rs 926.
The company announced its September quarter earnings. Key earnings highlights:
- Revenue up 25 percent at Rs 1274 crore
- EBITDA up 18 percent at Rs 66 crore
- Margins at 5.2 percent versus 5.5 percent
- Profit up 370 percent at Rs 141 crore
- Income tax credit from previous year of Rs 67.5 crore pushed profits higher
Besides, the company plans to acquire 70 percent stake in Vedang Cellular Services for Rs 40 crore, according to its exchange notification.
Trading volume was 185.2 times, its 30-day average. The stock has returned 34 percent so far this year and a gain of 51 percent in the past 12 months.
JP Associates: Drops After Court Order
Shares of the debt-laden firm dropped as much as 14.6 percent to Rs 17.25 after the Supreme Court declined to allow the company to hive off the Yamuna Expressway project.
The apex court’s order comes on a plea filed by Jaiprakash Associates, the parent company of Jaypee Infratech, proposing the sale of the 165-kilometre expressway. This would allow the Manoj Gaur-led company to raise Rs 2,500 crore which will be used to deliver flats or refunds to homebuyers.
- Jaypee Infratech (-5.5%)
Hindustan Unilever: Snaps Two-Day Gains
Shares of the consumer goods major fell as much as 1.3 percent to Rs 1,256.40.
The companies net profit rose 16 percent to Rs 1,276 crore as compared to the same quarter last year. The net profit growth was the most in ten quarters as it recovered from Goods and Services Tax-related disruptions and reported strong sales volumes in the July-September period.
Key Earnings Highlights:
- Revenue up 6 percent at Rs 8309 crore
- EBITDA up 19.7 percent at Rs 1682 crore
- Margins at 20.2 percent versus 17.9 percent
- Volumes up 4 percent
Other Stocks Reacting To Earnings
RBL Bank (Q2FY18 YoY)
- Stock rose as much as 2.2 percent to Rs 535.85
- NII up 38.7 percent to Rs 420.2 crore
- Net profit up 67.8 percent to Rs 151 crore
- Gross NPA at 1.44 percent versus 1.46 percent (QoQ)
- Net NPA at 0.78 percent versus 0.81 percent (QoQ)
PNB Housing (Q2FY18 YoY)
- Stock rose as much as 14.6 percent to Rs 1,598.45
- Net Interest Income grew 69 percent to Rs 386 crore
- Net Profit up 51 percent to Rs 208 crore
- GNPA at 0.34 percent, Net NPA at 0.26 percent
EIL (Q2FY18 YoY)
- Stock rose as much as 7.3 percent to Rs 169.50
- Net Sales up 27 percent at Rs 429 crore
- Net profit up 25 percent at Rs 119 crore
- EBITDA up 48 percent at Rs 139.2 crore
- Margins at 32.4 percent versus 27.8 percent
Agro Foods (Q2FY18 YoY)
- Stock rose as much as 7.1 percent to Rs 549.8
- Revenue down 2.4 percent at Rs 197 crore
- Net Profit up 15.9 percent at Rs 8 crore
- EBITDA up 18.4 percent at Rs 17.4 crore
- Margins at 8.8 percent versus 7.3 percent
Everest Industries (Q2FY18 YoY)
- Stock rose as much as 6.4 percent to Rs 508.55
- Revenues up 7.5 percent at Rs 259 crore
- Net profit at Rs 4.5 crore versus loss of Rs 8 crore
- EBITDA at Rs 11 crore versus EBITDA loss of Rs 2 crore
- Margins at 4.2 percent versus -0.9 percent
Syngene (Q2FY18 YoY)
- Stock fell as much as 1.6 percent to Rs 498.90
- Revenues up 10.5 percent at Rs 335 crore
- Net profit up 2.9 percent at Rs 76.9 crore
- EBITDA up 7.6 percent at Rs 113.5 crore
- Margins at 33.9 percent versus 34.8 percent
Mindtree (Q2FY18 YoY)
- Stock fell as much as 4.3 percent to Rs 485.60
- Revenue up 3.3 percent at Rs 1332 crore
- Net Profit up 2.5 percent at Rs 125 crore
- EBIT up 11.3 percent at Rs 109 crore
- EBIT Margin at 8.2 percent versus 7.6 percent
Exide (Q2FY18 YoY)
- Stock fell as much as 5.4 percent to Rs 197.80
- Revenue up 23.2 percent at Rs 2371.3 crore
- Net Profit down 25.5 percent at Rs 136 crore
- EBITDA up 2.3 percent at Rs 295.8 crore
- Margins at 12.5 percent versus 15 percent
M&M Financial (Q2FY18 YoY)
- Stock fell as much as 3 percent to Rs 395.55
- NII up 16.3 percent at Rs 911 crore
- Net Profit down 17.7 percent at Rs 78 crore
PI Industries (Q2FY18 YoY)
- Stock fell as much as 3.2 percent to Rs 767.55
- Revenue down 2 percent at Rs 561 crore
- Profit down 21 percent at Rs 80 crore
- EBITDA down 5 percent at Rs 121.5 crore
- Margins at 21.7 percent versus 23.4 percent
Tata Communications (Q2FY18 YoY)
- Stock fell as much as 4.8 percent to Rs 694.20
- Revenue down 2.1 percent at Rs 4,218 crore
- EBITDA up 1.2 percent at Rs 565.5 crore
- Margins at 13.4 percent versus 13 percent
- Net loss of Rs 250 crore versus profit of Rs 32 crore
- Exceptional expense of Rs 186 crore
Astec LifeSciences (Q2FY18 YoY)
- Stock fell as much as 1.8 percent to Rs 564
- Revenue up 6.7 percent at Rs 96 crore
- Net Profit down 39.6 percent at Rs 6.7 crore
- EBITDA down 36.1 percent at Rs 14.7 crore
- Margins at 15.3 percent versus 26.9 percent
Stocks Reacting To Bulk Deals
MAS Financial Services
- Stock fell as much as 3.5 percent to Rs 646
- TIMF Holdings bought 5.83 lakh shares at Rs 659.29 each
JB Chemicals and Pharma
- Stock rose as much as 3.6 percent to Rs 285
- Kotak Mahindra AMC sold 6 lakh shares or 0.7 percent equity stake at Rs 280 each
- Stock rose as much as 4.9 percent to Rs 200
- Promoter SAK Industries Pvt Ltd bought 98,765 shares or 0.9 percent equity stake at Rs 200 each
- Ajit Thomas sold 1 lakh shares or 1 percent equity stake at Rs 200.01 each