Stocks Radar: Biocon, PSU Banks, Bharat Electronics

Indian equity benchmarks fell today, snapping a six-day gaining streak after a series of record highs were touched this week. Erstwhile gains in benchmarks were offset by bank shares after some brokerages found the government bailout package as inadequate.

The S&P BSE Sensex Index fell as much as 0.4 percent to 36,017.5, while the NSE Nifty 50 Index fell 0.35 percent to 11,047.6. The market breadth was tilted in favour of the sellers.

Twelve out of 19 sector gauges compiled by BSE were trading lower, led by losses in the S&P BSE Information Technology Index's 0.9 percent drop. On the flip-side, the S&P BSE Metal Index was the top sectoral gainer, up 0.81 percent.

Here Are The Stocks Moving This Morning:

Nifty PSU Bank: Brokerages Downplay Bailout Package

Shares of the country’s largest lender fell as much as 3.7 percent, most in over a month, to Rs 317.7.

Some brokerages said the Rs 8,800 crore fresh capital that State Bank of India will receive from the government is far less than anticipated. (To read more on this story, click here!)

Also Read: Government Details Bank Recapitalisation Plan With Riders

Biocon: Falls As Profit Dips

Shares of the Bengaluru-based biotechnology firm fell as much as 5.4 percent, most in three months, to Rs 600.2.

Earnings Highlight:

• Revenue up 2 percent at Rs 1,058 crore.
• Net profit down 46 percent at Rs 92 crore.
• Earnings before interest, tax, depreciation and amortisation down 20 percent at Rs 222 crore.
• Margin at 21 percent from 26.6 percent.

Biocon Ltd. extended a two-day losing streak today. Trading volume was 4.6 times the 20-day average.

Also Read: Biocon’s Profit Declines For Fourth Straight Quarter On Lower Biosimilar Revenue

Garnet International: Rises On Bonus Issue Approval

Shares of the rose to a lifetime high of Rs 1,964 after rising as much as 5 percent.

The board of Garnet International Ltd. approved 2:1 bonus issue and will increase NRI investment from 10 percent to 24 percent, and foreign investment from 24 percent to 49 percent.

The company’s shares extended a four-day gaining streak today.

Bharat Electronics: Rises On Buyback Buzz

Shares of the Bengaluru-based electronics equipment manufacturer rose as much as percent, most in two months, to Rs 178.8.

Bharat Electronics Ltd.’s board approved a plan to consider a buyback of shares.

Trading volume surged to 5.8 times the 20-day average.

Block Deal:

• 15.7 lakh shares changed hands in a single block.

Stocks Reacting To Block Deals

Dish TV:

• 62.8 lakh shares changed hands three block deals
• Shares of Dish TV India Ltd. rose as much as 33 percent to Rs 73.6.

Earnings Reaction To Watch

Canara Bank Q3 (YoY)

• Shares of Canara Bank Ltd. fell as much as 3.3 percent to Rs 366.7.
• Net Interest Income up 52 percent at Rs 3679.5 crore.
• Net profit down 61 percent at Rs 125.75 crore.
• Provisions up 24 percent at Rs 2674 crore (QoQ).
• Provisions for NPA down 3 percent at Rs 1,900 crore (QoQ).
• GNPA at 10.38 percent from 10.51 percent (QoQ).
• Net NPA at 6.78 percent from 7.02 percent (QoQ).

L&T Infotech Q3 (QoQ)

• Shares of Larsen & Toubro Infotech Ltd. rose as much as 5.8 percent to Rs 1,270.
• Revenue up 8 percent at Rs 1,884 crore.
• Net profit up 4 percent at Rs 283 crore.
• EBIT up 11 percent at Rs 281.5 crore.
• Margin at 14.9 percent from 14.5 percent.

KPIT Technologies Q3 (QoQ)

• Shares of KPIT Technologies Ltd. rose as much as 2.1 percent to Rs 214.6.
• Revenue down 0.3 percent at Rs 913 crore.
• Net profit up 3.4 percent at Rs 61.7 crore.
• EBIT up 11.2 percent at Rs 78.4 crore.
• Margin at 8.6 percent from 7.7 percent.

Music Broadcast Q3 (YoY)

• Shares of Music Broadcast Ltd. fell as much as 3.1 percent to Rs 378.2.
• Revenue up 4 percent at Rs 76 crore.
• Net profit up 20 percent at Rs 12 crore.
• Ebitda down 13 percent at Rs 23.5 crore.
• Margin at 30.9 percent from 37 percent.

Quess Corp Q3 (YoY)

• Shares of Quess Corp Ltd. rose as much as 5.7 percent to Rs 1,167.
• Revenue up 48.5 percent at Rs 1,584 crore.
• Net profit up 106 percent at Rs 70 crore.
• Ebitda up 54 percent at Rs 91 crore.
• Margin at 5.7 percent from 5.5 percent.

Container Corporation of India Q3 (YoY)

• Shares of Container Corporation of India Ltd. rose as much as 2.2 percent to Rs 1,499.
• Revenue up 25 percent at Rs 1,640 crore.
• Net profit up 55 percent at Rs 289 crore.
• Ebitda up 71.5 percent at Rs 446 crore.
• Margin at 27.2 percent from 19.8 percent.

Pidilite Q3 (YoY)

• Shares of Pidilite Industries Ltd. rose as much as 2.7 percent to Rs 899.9.
• Revenue up 16 percent at Rs 1,543 crore.
• Net profit up 19 percent at Rs 240 crore.
• Ebitda up 29 percent at Rs 370 crore.
• Margin at 24 percent from 21.5 percent.

Raymond Q3 (YoY)

• Shares of Raymond Ltd. fell as much as 3.2 percent to Rs 1,088.1.
• Revenues up 14 percent at Rs 1484 crore.
• Net profit at Rs 29 crore.
• Ebitda up 74 percent at Rs 101.6 crore.
• Margins at 6.8 eprcent versus 4.4 percent.

KEI Industries Q3 (YoY)

• Shares of KEI Industries Ltd. fell as much as 0.9 percent to Rs 394.9.
• Revenues up 25 percent at Rs 889 crore
• Net profit up 50 percent at Rs 39 crore.
• Ebitda up 9.5 percent at Rs 84 crore.
• Margin at 9.5 percent versus 10.75 percent.

Sagar Cements Q3 (YoY)

• Shares of Sagar Cements Ltd. fell as much as 5.7 percent to Rs 1,021.4.
• Revenue up 30 percent at Rs 249 crore.
• Net profit of Rs 3 crore from a loss Rs 0.5 crore.
• EBITDA up 7 percent at Rs 31 crore.
• Margin at 12.4 percent from 15.2 percent.

Mphasis Q3 (QoQ)

• Shares of Mphasis Ltd. rose as much as 4.6 percent to Rs 839.2.
• Revenue up 3.5 percent at Rs 1,661 crore.
• Net profit up 9 percent at Rs 215 crore.
• EBIT up 11 percent at Rs 257 crore.
• Margin at 15.5 percent from 14.5 percent.

Genus Power Infrastructures Q3 (YoY)

• Shares of Genus Power Infrastructures Ltd. fell as much as 6.5 percent to Rs 76.5.
• Revenue up 9 percent at Rs 200 crore.
• Net profit up 8 percent at Rs 13 crore.
• EBITDA down 17 percent at Rs 19 crore.
• Margin at 9.5 percent from 12.6 percent.

Liberty Shoes Q3 (YoY)

• Shares of Liberty Shoes Ltd. rose as much as 5.5 percent to Rs 265.
• Revenue up 28 percent at Rs 163 crore.
• Net profit up 145.5 percent at Rs 2.7 crore.
• Ebitda up 10 percent at Rs 11 crore.
• Margin at 6.7 percent from 7.9 percent.

Bharat Bijlee Q3 (YoY)

• Shares of Bharat Bijlee Ltd. rose as much as 11.7 percent to Rs 1,550.1.
• Revenue up 34.5 percent at Rs 228 crore.
• Net profit at Rs 9.65 crore.
• Ebitda at Rs 14 crore.
• Margin at 6.1 percent from 4.4 percent.

Geojit Financial Services Q3 (YoY)

• Shares of Geojit Financial Services Ltd. rose as much as 2.6 percent to Rs 120.
• Revenue up 36 percent at Rs 91 crore.
• Net profit up 40 percent at Rs 21 crore.

Siti Networks Q3 (YoY)

• Shares of Siti Networks Ltd. fell as much as 1.2 percent to Rs 24.3.
• Revenue up 20 percent at Rs 357.5 crore.
• Net loss of Rs 37 crore from a loss of Rs 26 crore.
• Ebitda up 28 percent at Rs 70.5 crore.
• Margin at 19.7 percent from 18.4 percent.

Everest Industries Q3 (YoY)

• Shares of Everest Industries Ltd. rose as much as 9.3 percent to Rs 637.9.
• Revenue up 16.4 percent at Rs 291 crore.
• Net profit of Rs 9.4 crore from a loss of Rs 14 crore.
• Ebitda at Rs 18 crore.
• Margin at 6.2 percent from -4 percent.

Orient Green Power Q3 (YoY)

• Shares of Orient Green Power Company Ltd. rose as much as 8.9 percent to Rs 14.
• Revenue up 2 percent at Rs 56 crore.
• Net loss of Rs 51 crore from a loss of Rs 69.5 crore.
• Ebidta down 1.5 percent at Rs 33 crore.
• Margin at 58.9 percent from 60.9 percent.