Stocks Radar: Tata Communications, S Chand, Prataap Snacks
Here are the stocks moving this morning.
Indian equity benchmarks rose today snapping two days of decline. The S&P BSE Sensex rose as much as 0.35 percent to 33,169, while the NSE Nifty 50 Index rose 0.37 percent to 10,230.
The market breadth was tilted in favour of sellers. Fifteen out of 19 sector gauges compiled by the BSE Ltd. rose, led by the S&P BSE Telecom Index’s 0.52 percent gain. On the other hand, the sector which fell the most was S&P BSE Utilities Index, which lost 0.37 percent.
Here are the stocks moving this morning.
Religare: Rises On Block Deal
Shares of the New Delhi-based financial services firm snapped a two-day decline and rose as much as 5 percent to Rs 60.25 after 1.1 crore shares (or 6 percent equity) changed hands in a single block deal.
Religare Enterprises Ltd. was the most traded Indian stock by volume in early trading.
Buyers and sellers were not immediately known.
S Chand: Rises On Brokerage Initiation
Shares of the Delhi-based book publisher rose as much as 5.18 percent, the most in over a month, to Rs 508.20. Brokerage Credit Suisse initiated coverage on the stock with an 'outperform' rating for target price of Rs 625.
Tata Communications: Rises After Land Transfer
Shares of the telecom company rose as much as 8.85 percent, the most in four months, to Rs 758. The company said it will transfer surplus land to Hemisphere Properties which will be listed on stock exchanges subsequently.
Bodal Chemicals: Falls As Q2 Disappoints
Shares of the Ahmedabad-based dye manufacturer fell as much as 8.11 percent, the most in a month, to Rs 157.
Earnings Highlight:
- Revenue down 23 percent at Rs 262.5 crore.
- Net profit down 28 percent at Rs 26 crore.
- EBITDA down 18 percent at Rs 46.5 crore.
- Margin at 17.7 percent from 16.7 percent.
Bodal Chemicals Ltd.’s stocks extended a two-day decline period.
Prataap Snacks: Rises On Net Profit Surge
Shares of the Indore-based snack maker rose as much as 10.46 percent to Rs 1,415.
Earnings Highlight:
- Revenue up 11 percent at Rs 264 crore.
- Net profit up 143 percent at Rs 12.9 crore.
- EBITDA up 148 percent at Rs 26 crore.
- Margin at 9.8 percent from 4.4 percent.
Shares of Prataap Snacks Ltd. extended a two-day gaining streak.
Mahindra And Mahindra: Rises On Stake Sale
Shares of the automobile company rose as much as 1.66 percent to Rs 1,436.
Overseas unit of Mahindra and Mahindra Ltd., Mahindra Overseas Investment Co., sold 64.5 lakh shares that it held in CIE Automotive, bringing down the investment stake in the company to 7.435 percent, according to Bloomberg. The company raised Rs 15.16 crore via the stake sale.