Stocks Radar: Bhushan Steel, Tata Motors, Vakrangee, Dai-Ichi Karkaria

India’s benchmark equity indices sank the most in two years erasing this year’s gains that drove it to multiple records, and the rupee slid to the lowest in almost two months amid a global rout sparked by concern that inflation will force interest rates higher.

The S&P BSE Sensex plunged 3.1 percent, or 1,070 points to 33,667 and the NSE Nifty 50 Index also lost 3 percent to 10,343. The market breadth was firmly tilted in the favour of sellers.

All the 19 sector gauges compiled by the BSE were trading lower, led by the S&P BSE Consumer Durable Index’s 4.36 percent drop. All shares in the Nifty 50 basket were trading lower.

Here Are The Stocks Moving The Market This Morning:

Tata Motors: Plunges After Q3 Earnings Missed Estimates

Shares of the automobile maker fell nearly 10 percent to Rs 356 after its third quarter profit missed estimates by a wide margin due to lower sales in the U.S. and European markets.

Trading volume was 7.9 times its 30-day average and the relative strength index of the stock was 28, indicating that it may be oversold.

Key Financial Highlights:

• Revenue up 16 percent to Rs 74,156 crore
• Net profit up 13 times to Rs 1,199 crore
• Ebitda up 37 percent to Rs 8,543 crore
• Margin at 11.5 percent versus 9.7 percent
• JLR margin at 10.9 percent versus 10.1 percent

For more details on Tata Motors’ Q3 performance, click here

Bhushan Steel: Soars On The Bidding Day

Shares of the debt-laden steel maker rose as much as 9.75 percent to Rs 49.

Bids for the company will open today, which will kickstart the next round in the race which includes JSW Steel and Tata Steel. (More details here)

While Tata Steel has submitted an individual bid, a consortium of JSW-Piramal-Bain is said to have offered another value. The stock snapped a three-day losing streak and was the top gainer on NSE Nifty 500 Index.

Vakrangee: Locked In Lower Circuit For Fifth Straight Session

Shares of the e-governance service provider were locked in lower circuit for a fifth straight session – extending a seven-day losing streak. The stock has lost over 50 percent in the last five trading sessions.

The company has been in the news after a report suggested it was was being investigated by market regulator SEBI for alleged share price manipulation and equity investments in PC Jeweller Ltd. The management has denied any such wrongdoing.

NBCC: Falls For Third Day In A Row

Shares of the state-owned project management consultancy fell as much as 14.5 percent to Rs 176 owing to a continuation in mass market selloff. This is most that the stock has declined in nearly a year.

The stock trading volume is 4.1 times the 30-day average, and its Relative strength index is 16, indicating that it may be oversold.

Dai-Ichi Karkaria: Surges On Q3 Profit Growth

Shares of the Mumbai-based specialty chemical maker rose as much as 9 percent, the most since Dec. 27, to Rs 433 in an otherwise weak market after it reported strong third quarter earnings.

Key Earnings Highlights:

• Net profit rose 64 percent to Rs 5 crore
• Revenue rose 41 percent to Rs 46.36 crore

Stocks Reacting To Earnings

Century Ply Q3 (YoY)

• Stock was down 2.74 percent to Rs 295
• Net sales up 20 percent to Rs 510 crore
• Net profit up 27 percent to Rs 47 crore
• Ebitda up 29 percent to Rs 87 crore
• Margin at 17.1 percent versus 15.8 percent

Manali Petrochemical Q3 (YoY)

• Stock was up 4.67 percent to Rs 35
• Revenue up 17 percent to Rs 162 crore
• Net profit up 31 percent to Rs 17 crore
• Ebitda up 96 percent to Rs 30.4 crore
• Margin at 18.8 percent versus 11.2 percent

Ujjivan Financial Services Q3 (YoY)

• Stock was down 3.6 percent to Rs 334
• NII down 1.6 percent to Rs 196 crore
• Net profit down 33.3 percent to Rs 29.3 crore
• Gross NPA at 4.24 percent versus 4.99 percent (QoQ)
• Net NPA at 1.04 percent versus 1.38 percent (QoQ)

Greaves Cotton Q3 (YoY)

• Stock was down 2.5 percent to Rs 129
• Revenue up 10.6 percent to Rs 447 crore.
• Net profit up 26.4 percent to Rs 55.6 crore.
• Ebitda up 3 percent to Rs 62 crore
• Margin at 13.9 percent versus 14.9 percent

Hudco Q3 (YoY)

• Stock was down 6 percent to Rs 75
• Net Interest Income up 18.5 percent to Rs 502 crore
• Net profit down 10 percent to Rs 163.6 crore
• Gross NPA at 6.99 percent versus 7.10 percent (QoQ)
• Net NPA at 1.84 percent versus 1.78 percent (QoQ)

Timken India Q3 (YoY)

• Stock was down 7 percent to Rs 817
• Revenue up 21 percent to Rs 279 crore
• Net profit down 31 percent to Rs 9 crore
• Ebitda down 12 percent to Rs 20.8 crore
• Margin at 7.5 percent versus 10.3 percent

Igarashi Motors Q3 (YoY)

• Stock was down 4 percent to Rs 795
• Revenue down 18 percent to Rs 102 crore
• Net profit down 17 percent to Rs 15 crore
• Ebitda down 32 percent to Rs 21 crore
• Margin at 20.6 percent versus 25 percent