Stocks Radar: HCL Technologies, Bharti Airtel, Wonderla Holidays
Indian shares rose, with the key indices headed for their longest run of weekly gains in six years, as companies continue to report strong earnings for the last three months of 2017.
The S&P BSE Sensex rose as much as 0.5 percent to 35,434.1, while the NSE Nifty 50 Index rose as much as 0.38 percent to 10,857.7 in early trade. The market breadth was firmly tilted in the favour of the buyers.
Fourteen of the 19 sectoral gauges compiled by BSE Ltd. rose, led by the S&P BSE Bankex’s 0.78 percent rise, while S&P BSE Teck Index fell the most, with 0.65 percent losses.
Here Are The Stocks Moving This Morning:
Adani Ports: Rises On Profit Rebound
Shares of the Ahmedabad-based shipping port operator rose as much as 3.16 percent to Rs 429.4.
The company’s net profit in the three months ended December rose 18 percent year-on-year to Rs 994 crore, Adani Ports said in a stock exchange filing yesterday.
(To read more on Adani Ports’ third quarter results, click here!)
The stock was upgraded to ‘Buy’ at Goldman Sachs and the target price was raised to Rs 488 from Rs 400.
HCL Technologies: Meets Estimates In Q3
Shares of the New Delhi-based IT services firm rose as much as 1 percent to Rs 964.
HCL Technologies Ltd.’s net profit rose 0.3 percent to Rs 2,194 crore as per U.S. GAAP standards, compared to that in the previous quarter, according to the company's exchange filing. This was slightly higher than the Rs 2,145 crore estimated by analysts tracked by Bloomberg.
The company’s shares have been rising for four consecutive days . Trading volume of the stock was four time the 20-day average.
(To read more on HCL Technologies’ quarterly results, click here!)
Bharti Airtel: Falls On Dampened Profit
Shares of India’s largest wireless carrier fell as much as 2.3 percent to Rs 483.5.
Bharti Airtel Ltd. ’s net profit in the December-ended quarter declined 11 percent over the previous three months to Rs 306 crore, Bharti Airtel said in a stock exchange filing. The consensus estimate of analysts tracked by Bloomberg had expected profit at Rs 359 crore.
The stock has declined in four of the five trading sessions this week.
(To read more on Bharti Airtel’s quarterly results, click here!)
Wonderla Holidays: GST Rate Cut Boost
Shares of the Bengaluru-based amusement park operator rose as much as 8.9 percent to Rs 425, which is the highest in almost three years.
Goods and Services Tax rates on admission to theme parks, water parks, joy rides, merry-go-rounds, go-carting and ballet were reduced to 18 percent from 28 percent in yesterday's GST Council Meeting.
The stock has been gaining for the last two sessions. Trading volume surged to 26.8 times the 20-day average.
(To read more on the complete list of tax rate revisions, click here!)
Dilip Buildcon: Rises On Order Win
Shares of the infrastructure construction firm rose as much as 3.2 percent to Rs 965.
Dilip Buildcon Ltd. won an engineering, procurement, construction order, valued at Rs 360.6 crore in Karnataka.
Trading volume of the stock was 50 percent of the 20-day average.
Stocks Reacting To Block Deals
- 21.2 lakh shares changed hands in two block deals
- Shares of Sunteck Realty Ltd. rose as much as 3.35 percent to Rs 417.9.
Other Earnings To Watch
Cyient Q3 (QoQ)
- Shares of Cyient Ltd. rose as much as 3.1 percent to Rs 599.7.
- Revenue up 2 percent at Rs 983 crore.
- Net profit down 21 percent at Rs 87.8 crore.
- EBIT down 1 percent at Rs 112 crore.
- Margin at 11.4 percent from 11.7 percent.
Zensar Technologies Q3 (QoQ)
- Shares of Zensar Technologies Ltd. rose as much as 2.1 percent to Rs 915.
- Revenue up 4 percent at Rs 794 crore.
- Net profit down 6 percent at Rs 59 crore.
- EBIT up 26.8 percent at Rs 90 crore.
- Margin at 11.3 percent from 9.3 percent.
Deepak Nitrite Q3 (YoY)
- Shares of Deepak Nitrite Ltd. rose as much as 3.6 percent to Rs 292.5.
- Revenue up 22 percent at Rs 371 crore.
- Net profit up 170 percent at Rs 20 crore.
- Ebitda up 68 percent at Rs 52 crore.
- Margin at 14.0 percent from 10.2 percent.
Jubilant Industries Q3 (YoY)
- Shares of Jubilant Industries Ltd. fell as much as 5.8 percent to Rs 251.2.
- Revenue up 4.9 percent at Rs 119 crore.
- Net loss of Rs 2.2 crore from a net loss of Rs 5.6 crore.
- Ebitda up 6 percent at Rs 5.3 crore.
- Margin at 4.5 percent from 4.4 percent.
Kewal Kiran Clothing Q3 (YoY)
- Shares of Kewal Kiran Clothing Ltd. fell as much as 3.8 percent to Rs 1,768.
- Revenue flat at Rs 94.4 crore.
- Net profit up 25 percent at Rs 10.4 crore.
- Ebitda up 48 percent at Rs 15.8 crore.
- Margin at 16.7 percent from 11.4 percent.