Stocks Radar: Bharti Airtel, Reliance Communications, Wonderla Holidays
Indian equity benchmarks rose for the first time this week amid a bounce back in Asian peers after a four-day decline.
The S&P BSE Sensex rose as much as 0.5 percent to 32,924.2, while the NSE Nifty 50 Index rose as much as 0.5 percent to 10,168.
The market breadth was tilted in favour of the buyers. Seventeen of the 19 sector gauges compiled by the BSE Ltd. advanced led by S&P BSE Telecom Index’s 1.1 percent jump. The S&P BSE Power Index was the worst performer, down 0.1 percent.
Here Are The Stocks Moving The Market This Morning
Bharti Airtel: Block Deal Alert
Shares of the country’s largest telecom operator fluctuated between gains and losses after 1.27 million shares changed hands in a block deal. The stock declined as much as 1.15 percent to Rs 481.15 after gaining 1.67 percent in early trade.
The stock has returned 61.26 percent so far this year, compared with the 38.28 percent advance in the S&P BSE Telecom Index.
Reliance Communications: New All-Time Low
Shares of the debt-laden telecom company dropped 4.46 percent to a new all-time low of Rs 9.65 apiece after it said it will not be making any interest payments to any lenders and is under standstill period until December 2018.
Earlier this week, the Anil Ambani-led company became the first Indian company to default on U.S. dollar bonds in 15 months. (Read the full news story right here)
5Paisa Capital: India’s First Listed Online Trading Firm
5Paisa Capital Ltd. made its stock market debut at Rs 400 apiece on the National Stock Exchange. The stock was locked in lower circuit after it dropped 5 percent to Rs 380 thereafter.
The scrip got listed at Rs 650 apiece on the BSE Ltd. and saw an intraday low of Rs 617.50.
The company, hived off from financial services provider IIFL Holdings Ltd. last year, has become India’s first online trading firm to list on the exchanges.
For more on this, click here!
Wonderla Holidays: Shares Plunge On Profit Dip
Shares of the Bengaluru-based company fell as much as 4.6 percent, the most in six months, to Rs 365 apiece after the company reported quarterly.
Q2 Earnings Highlights
- Revenue up 1.2 percent at Rs 49.4 crore.
- Net profit down 37.8 percent at Rs 2.3 crore.
- EBITDA up 20.65 percent at Rs 11.1 crore.
- Margin at 22.5 percent versus 18.9 percent
Shares of the company fell for the fourth straight day this week. Wonderla trades at 63.2 times trailing 12-month earnings per share.