Stocks Radar: Bajaj Auto, Divi’s Laboratories, Dredging Corp, Hero MotoCorp, NTPC
Indian equity benchmarks climbed for the second straight trading session. The S&P BSE Sensex index rose as much as 0.14 percent to 33,646.47, while the NSE Nifty 50 Index rose as much as 0.12 percent to 10,453.
The market breadth was tilted in favour of the buyers. Twelve out of 19 sector gauges rose led by the S&P BSE Healthcare Index's 1.8 percent jump. On the other hand, the S&P BSE Metal Index dropped the most, down 0.7 percent.
Here Are The Stocks Moving The Market This Morning
Divi’s Labs: Record Surge
Shares of the Hyderabad-based drugmaker rose as much as 21 percent, the most since listing, to Rs 1,071, also its highest level in nearly one year, after the U.S. drug regulator said it will lift a ban on its factory in Visakhapatnam.
The Food and Drug Administration will also move to close the warning letter issued in May, the Hyderabad-based drugmaker said in an exchange filing. Plants on the FDA's import alert list cannot export drugs to the U.S.
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Bajaj Auto: October Sales Rise
Shares of the Pune-based two-and-three-wheeler maker rose as much as 1.2 percent to Rs 3,278.
The company’s sales rose for the third straight month in October, driven by a healthy growth in exports, according to its exchange notification.
Bajaj Auto trades at 23.2 times trailing 12-month earnings per share and 22 times its estimates for the coming year. The stock has returned 27 percent so far this year and a gain of 18 percent in the past 12-months.
Dredging Corp: Extends Gains To Day 6
Shares of the dredging company rose as much as 17.5 percent, a sixth straight session of gain, after the government stake sale in the company.
The sale could bring around Rs 1,400 crore to the exchequer, official sources said after the Cabinet meeting, chaired by Prime Minister Narendra Modi. The dredging company is under the administrative control of the Shipping Ministry.
The stock has risen nearly 40 percent in six sessions. Trading volume too was high today at 32.4 times its 30-day average. It has returned around 96 percent so far this year.
NTPC: Major Accident
Shares of the country’s largest power producer fell as much as 2.4 percent, the most in two-months, to Rs 176.50.
At least 20 people died and 100 were injured after a boiler exploded at the state-run power giant’s Unchahar plant in Uttar Pradesh's Rae Bareli district, according to PTI report.
The stock’s consensus price target was Rs 189.26, implying a potential upside of 6.2 percent from the current market price.
Hero MotoCorp: Declines After Earnings Report
Shares of the country’s largest two-wheeler maker fell as much as 1.9 percent, the most in over a month, to Rs 3,774.60.
Shares of Hero MotoCorp fell as much as 2 percent, the most in nearly a month to Rs 3,745 after the company announced its previous quarter results yesterday.
Key Earnings Highlights:
- Revenue up 7 percent at Rs 8362 crore.
- Profit up 0.6 percent at Rs 1010.5 crore.
- EBITDA up 6 percent at Rs 1456 crore.
- Margin at 17.4 percent versus 17.6 percent.
The stock was the worst performer on BSE Auto Index. Trading volume was 2.8 times, its 30-day average.
Other Stocks Reacting To Earnings
TCI Express (Q2FY18, YoY)
- Stock rose as much as 3.1 percent to Rs 583.95.
- Revenue up 10.3 percent at Rs 204 crore.
- Profit up 30 percent at Rs 13 crore.
- EBITDA up 19.9 percent at Rs 19.9 crore.
- Margin at 9.75 percent versus 8.97 percent.
Ramco System (Q2FY18, QoQ)
- Stock fell as much as 7.3 percent to Rs 421.40
- Revenue up 4.5 percent at Rs 115 crore.
- Profit of Rs 6.5 crore versus Net loss of Rs 3 crore.
- EBIT at Rs 12.3 crore versus EBIT loss of Rs 2.9 crore.
- Margin at 10.69 percent versus -2.6 percent.
Hikal (Q2FY18, YoY)
- Stock fell as much as 5.5 percent to Rs 235.90.
- Revenue up 25.6 percent at Rs 292 crore.
- Profit down 6 percent at Rs 15.3 crore.
- EBITDA up 13.8 percent at Rs 53.5 crore.
- Margin at 18.3 percent versus 20.2 percent.
ABC Bearings (Q2FY18, YoY)
- Stock rose as much as 2.5 percent to Rs 438.
- Revenue up 20.5 percent at Rs 47 crore.
- Profit up 43 percent at Rs 2 crore.
- EBITDA up 26.7 percent at Rs 7.6 crore.
- Margin at 16.2 percent versus 15.4 percent.
Ador Fontech (Q2FY18, YoY)
- Stock rose as much as 5.9 percent to Rs 112.
- Revenue up 1.01 percent at Rs 39.7 crore.
- Profit up 52.2 percent at Rs 3.5 crore.
- EBITDA up 14 percent at Rs 4.9 crore.
- Margin at 12.3 percent versus 10.9 percent.
Hexaware (Q3CY17, QoQ)
- Stock rose as much as 6.7 percent to Rs 299.90.
- Revenue up 0.9 percent at Rs 993 crore.
- Profit up 16.4 percent at Rs 142 crore.
- EBIT up 8 percent at Rs 157 crore.
- Margin at 15.8 percent versus 14.74 percent.
Eclerx Services (Q2FY18, QoQ)
- Stock fell as much as 2.3 percent to Rs 1,251.30.
- Revenue down 0.6 percent at Rs 331 crore.
- Profit up 12.65 percent at Rs 89 crore.
- EBIT down 4.5 percent at Rs 84 crore.
- Margin at 25.4 percent versus 26.4 percent.
- Exceptional gain of Rs 20.4 crore.
Apollo Tyres (Q2FY18, YoY)
- Stock rose as much as 2.5 percent to Rs 250.
- Revenue up 12.70 percent at Rs 3477 crore.
- Profit down 46 percent at Rs 140 crore.
- EBITDA up down 17 percent at Rs 364.5 crore.
- Margin at 10.5 percent versus 14 percent.
Music Broadcast (Q2FY18, YoY)
- Stock rose as much as 4.3 percent to Rs 376.50.
- Revenue up 10 percent at Rs 76 crore.
- Profit down 7 percent at Rs 13 crore.
- EBITDA down 12 percent at Rs 25 crore.
- Margin at 33 percent versus 41 percent.
Apar Industries (Q2FY18, YoY)
- Stock fell as much as 9.7 percent to Rs 711.65.
- Revenue down 2.8 percent at Rs 1248 crore.
- Profit down 43.5 percent at Rs 26 crore.
- EBITDA down 11 percent at Rs 89 crore.
- Margin at 7.1 percent versus 7.7 percent.
Mahindra Holidays & Resorts (Q2FY18, YoY)
- Stock rose as much as 3.7 percent to Rs 362.55.
- Revenue down 5.8 percent at Rs 243 crore.
- Profit down 3.6 percent at Rs 31.7 crore.
- EBITDA down 11.5 percent at Rs 54 crore.
- Margin at 22.2 percent versus 23.6 percent.