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Stocks Radar: Jet Airways, SAIL, Suzlon Energy

Here are the stocks moving the market today.



Intraday stock charts are displayed on a monitor. (Photographer: Daniel Acker/Bloomberg)
Intraday stock charts are displayed on a monitor. (Photographer: Daniel Acker/Bloomberg)

The Indian equity benchmark rose today, extending a two-day gaining streak and swinging between gains and losses this week.

The S&P BSE Sensex rose as much as 0.77 percent to 33,203.55, while the NSE Nifty 50 Index gained 0.80 percent to 10,247.85.

The market breadth was tilted in favour of buyers. All 19 sector gauges compiled by the BSE Ltd. rose led by the S&P BSE Telecom Index’s 1.68 percent jump.

Here Are The Stocks Moving The Market This Morning:

Jet Airways: Falls On Profit Slump

Shares of the Mumbai-based airline fell as much as 4.61 percent to Rs 664.65 after the company declared it’s second quarter results in the previous session.

Earnings Highlight:

  • Revenue up 3 percent at Rs 5,627 crore.
  • Net Profit down 91 percent to Rs 50 crore.
  • Earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs down 31 percent at Rs 837 crore.
  • Ebitdar margin at 14.9 percent versus 22.1 percent.

Jet Airways (India) Ltd. snapped a three-day gaining streak although it did give positive returns of 93.75 percent this year as compared to Sensex’s returns of 24.42 percent.

The analyst consensus rating remains at ‘Sell’ while trading 23 percent above the Bloomberg consensus one-year target price of Rs 544.7.

SAIL: Rises After Joint Venture With ArcelorMittal

Shares of the state-run steel maker rose as much as 3.81 percent to Rs 81.75, gaining for the second straight day.

Steel Authority of India Ltd. announced yesterday that the company has finalised terms for a Rs 6,000 crore ($929 million) plant with ArcelorMittal to cater to the automobile sector.

(More details here!)

Future Consumer: Rises On New Rating

Shares of the fast moving consumer goods company rose as much as 15.09 percent to Rs 67.5.

Morgan Stanley initiated its coverage on the fast moving consumer goods company with ‘Overweight’ and a target price of Rs 95, it’s most bullish target price yet. (More on this story, here!)

Trading 31 percent below Rs 95, which is also the Bloomberg consensus one-year target price, analysts compiled by Bloomberg recommend a string ‘Buy’ on this stock.

Suzlon Energy: Rises As Labour Issue Resolved

Shares of the renewable energy manufacturer rose as much as 2.76 percent to Rs 14.13 after the company resolved a labor issue at its rotor blade factory, according to its exchange filing.

Suzlon Energy Ltd. informed its investors that an amicable situation has been reached and the lockout in the Padubidri Rotor Blade Factory has been lifted. The factory is located in Udupi, Karnataka.

Trading volume, according to Bloomberg, was almost the same as the 20-day average.

GAIL: At Lifetime High After Awards Contract

Shares of the natural gas and LPG distributor rose to a lifetime high of Rs 500 after it increased as much as 1.57 percent.

GAIL (India) Ltd. said in an emailed statement to Bloomberg that contractes were awarded for pipeline connectivity from Dobhi in Bihar to Durgapur in West Bengal, including 20 kilometers line to Jamshedpur, Jharkhand.

Stocks Reacting To Block Deals

Yes Bank

  • 44.8 lakh shares changed hands in a block deal in early trading today
  • Shares of Yes Bank Ltd. rose as much as 1.61 percent to Rs 315.5

Vakrangee

  • 14 lakh shares changed hands in a block
  • Shares of Vakrangee Ltd. rose to a lifetime high of Rs 754 after rising as much as 1.3 percent