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Stocks Radar: PC Jeweller, Vakrangee, Banking Stocks

Here  are the stocks moving the market this morning.

The Bombay Stock Exchange (BSE) logo is displayed in front of a bronze bull statue at the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
The Bombay Stock Exchange (BSE) logo is displayed in front of a bronze bull statue at the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

India’s benchmark stock indices slumped in early trade today as the U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields.

The S&P BSE Sensex fell as much as 1.6 percent or 546 points to 34,520.80 and the NSE Nifty 50 Index tumbled 1.6 percent or 174 points to 10,586.80. The market breadth was firmly tilted in favour of sellers.

Eighteen out of 19 sector gauges compiled by the BSE were trading lower, led by the S&P BSE Realty Index’s 3.25 percent percent drop. On the other hand, S&P BSE Information Technology Index, which was up 0.37 percent, gained the most.

Here Are The Stocks Moving The Market This Morning:

Vakrangee: Locked In Lower Circuit For Fourth Day In A Row

Shares of the Mumbai-based information technology company were locked in a 10 percent lower circuit for fourth day in a row at Rs 236.40.

The stock has been facing selling pressure since the last six sessions after a report suggested that Sebi is investigating the company for alleged stock price rigging. Trading volume was 2.8 times its 30-day average.

In an exchange notification, the company’s management clarified that “We have not received any communication either from Stock Exchanges or from SEBI. The rumours of involvement of Company in price and volume manipulation are completely baseless and factually incorrect.”

PC Jeweller: Rebounds After Friday’s Sharp Fall

Shares of the Delhi-based jewellery retailer surged as much as 29.25 percent, the most in nearly nine months, to Rs 470.80 after the management clarified that promoters have not sold any shares and their fundamentals are strong.

The stock snapped a four-day losing streak and gained in today’s opening session. A Bloomberg notification also said that Vakrangee Ltd. is set to sell its stake in the company.

A Mumbai Mirror report had on Friday said that the Securities and Exchange Board of India is investigating Vakrangee for alleged share price and trading volume manipulation.

3M India Surges As Profit Doubles In Q3

Shares of the Bangalore-based company rose as much as 5.46 percent, the most in over a month, to Rs 19,317.65 after its net profit more than doubled in October-December quarter.

Key Earning Highlights:

  • Revenue up 12 percent to Rs 646 crore
  • Net profit up 119 percent to Rs 92 crore
  • Ebitda up 94 percent to Rs 126 crore
  • Margin at 19.5 percent versus 11.3 percent

Banking Stocks Plunge

The Nifty Bank index fell 1.5 percent to 26,082 dragged down by weakness in Yes Bank, IndusInd Bank and ICICI Bank due to mass market selloff.

  • Yes Bank fell as much as 4.6 percent to Rs 333
  • State Bank of India declined 2.5 percent to Rs 289
  • HDFC Bank was down 2.5 percent to Rs 1,900
  • IndusInd Bank fell 2.8 percent to Rs 1,711

Nifty Bank Index Snapshot As Of 11:00 am

Stocks Radar: PC Jeweller, Vakrangee, Banking Stocks

Stocks Reacting To Earnings

Mirza International Q3 (YoY)

  • Shares of Mirza International Ltd. rose as much as 4.85 percent to Rs 130.8
  • Revenue up 11 percent to Rs 254 crore
  • Net profit up 21 percent to Rs 20.9 crore
  • Ebitda up 14 percent to Rs 45.6 crore
  • Margin at 18 percent versus 17.5 percent

United Breweries Q3 (YoY)

  • Shares of United Breweries Ltd. gained nearly 9 percent to Rs 103
  • Revenue up 17 percent to Rs 1,197 crore.
  • Net profit down 3 percent to Rs 47 crore.
  • Ebitda up 19 percent at Rs 152.5 crore.
  • Margin at 12.7 percent versus 12.5 percent.

Thomas Cook Q3 (YoY)

  • Shares of Thomas Cook (India) Ltd. gained 2.3 percent to Rs 230
  • Revenue up 51 percent at Rs 3,005 crore.
  • Net profit of Rs 10 crore versus net loss of Rs 7.7 crore.
  • Ebitda up 124 percent at Rs 120 crore.
  • Margin at 4 percent versus 2.7 percent.

RPG Life Sciences Q3 (YoY)

  • Stock was up 3.3 percent to Rs 440
  • Revenue up 45 percent at Rs 95.7 crore.
  • Net profit up four times at Rs 5.5 crore.
  • Ebitda up 127.7 percent at Rs 12 crore.
  • Margin at 12.5 percent versus 8 percent.

Lumax Industries Q3 (YoY)

  • Stock was up 6 percent to Rs 1,678
  • Revenue up 25.5 percent at Rs 370.8 crore.
  • Net profit up 9.1 percent at Rs 18.0 crore.
  • Ebitda up 29.8 percent at Rs 32.9 crore.
  • Margin at 8.9 percent versus 8.6 percent.

Accelya Kale Q3 (YoY)

  • Shares of Accelya Kale Solutions Ltd. fell 2.6 percent to Rs 1,360
  • Revenue up 4.5 percent at Rs 92 crore
  • Net profit down 3 percent at Rs 22.3 crore
  • Ebitda up 2 percent at Rs 35.6 crore
  • Margin at 38.7 percent versus 39.8 percent

Sical Logistics Q3 (YoY)

  • Shares of Sical Logistics Ltd. fell 3.5 percent to Rs 196
  • Revenue up 33 percent at Rs 329 crore
  • Net profit down 40 percent at Rs 6 crore
  • Ebitda up 11 percent at Rs 43 crore
  • Margin at 13.1 percent versus 15.6 percent

Jindal Drilling Q3 (YoY)

  • Shares of Jindal Drilling Industries Ltd. fell 7.2 percent to Rs 166
  • Revenue down 67 percent to Rs 36 crore
  • Net loss of Rs 2.3 crore versus net profit of Rs 7.65 crore
  • Ebitda loss at Rs 5.4 crore versus Ebitda profit of Rs 4.4 crore
  • Margin at -15 percent versus 4.1 percent

Union Bank Of India Q3 (YoY)

  • Shares of Union Bank of India fell 4.5 percent to Rs 122
  • NII up 19.3 percent to Rs 2,548.3 crore
  • Net loss at Rs 1,250 crore versus net profit of Rs 104 crore
  • Gross NPA at 13.03 percent versus 12.35 percent (QoQ)
  • Net NPA at 6.96 percent versus 6.70 percent (QoQ)

Vinati Organics Q3FY18 (YoY)

  • Shares of Vinati Organics Ltd. fell 5.13 percent to Rs 879
  • Revenues up 12.9 percent at Rs 185.65 crore.
  • Net profit down 9.4 percent at Rs 31.73 crore.
  • Ebitda down 9.5 percent at Rs 49.84 crore.
  • Margin at 26.8 percent versus 33.5 percent.

Seshasayee Paper Boards Q3FY18 (YoY)

  • Shares of Seshasayee Paper Boards Ltd. fell 7.7 percent to Rs 902
  • Revenue up 1.3 percent at Rs 294.8 crore.
  • Net profit down 10.3 percent at Rs 30.92 crore.
  • Ebitda down 18.7 percent at Rs 47.8 crore.
  • Margin at 16.2 percent versus 20.2 percent.
  • This quarter includes exceptional gain of Rs 4.8 crore.