Stocks Radar: Merck, Reliance Industries, Equitas, UPL
Indian equity benchmarks rose for the third straight session and look set to record their best start to a financial year in nine years.
The S&P BSE Sensex Index rose as much as 0.7 percent to 35,198.43, while the NSE Nifty Index rose as much as 0.6 percent to Rs 10,755.90.
The market breadth was tilted in favour of buyers. Ten out of 11 sectoral gauges compiled by NSE advanced, led by NSE Nifty IT Index's 1.8 percent gain. On the flipside, NSE Nifty Metal Index was the top sectoral loser, down 0.4 percent.
Here Are The Stocks Moving The Market This Morning
Reliance Industries: Falls After March Quarter Profit Miss
Shares of the country’s second-largest firm by market capitalisation snapped a five-day gaining streak, its longest since April 11. The stock fell as much as 1.9 percent to Rs 977.05.
The oil and gas to telecom conglomerate’s net profit rose for the eighth straight quarter aided by the petrochemicals business, but missed analyst estimates (more details here).
Trading volume was 7.2 times its 20-day average, Bloomberg data showed. Reliance Industries trades at over 16 times trailing 12-month earnings per share and 14 times its estimates for the coming year.
InterGlobe Aviation: Swings After President Ghosh Exits
Shares of the budget carrier airline operator fluctuated between gains and losses in early trade.
Aditya Ghosh on Friday stepped down as the president and whole time director of InterGlobe Aviation Ltd., IndiGo’s operator (more details here)
Reports also emerged that the company grounded two of its A320 Neo aircraft on account of technical glitches.
Trading volume was 44.9 times its 20-day average, according to Bloomberg data. The stock has returned 13 percent so far this year and a gain of 26 percent in the past 12 months.
Indian Oil: Gains After Investment Plans
Shares of the country’s largest oil marketer rose as much as 1.3 percent to Rs 164.90.
The company plans to invest Rs 4,221 crore in its Paradip petrochemical plant, according to its stock exchange filing.
The stock trades at 7.6 times estimated forward earnings per share, compared to 9.3 times for the two-year historical average.
UPL: March Quarter Earnings Weigh
Shares of the agrochemicals maker fell as much as 1.7 percent to Rs 741.45.
The company’s net profit missed analyst estimates as tax expenses rose in the quarter ended March. (more details here). The stock has declined 5.2 percent over the past year, compared to an 18.7 percent rise in the Sensex.
Other Stocks Reacting To Earnings
Shree Cement Q4 (YoY)
- Stock rose as much as 1.6 percent to Rs 17,296.75.
- Revenue up 15.3 percent at Rs 2,811 crore.
- Net profit up 31 percent at Rs 399 crore.
- Ebitda up 11.5 percent at Rs 629 crore.
- Margin at 22.4 percent versus 23 percent.
Equitas Q4 (YoY)
- Stock rose as much as 3.7 percent to Rs 161.70.
- Net Interest Income up 15 percent at Rs 279 crore.
- Net profit up 400 percent at Rs 35 crore.
IDFC Q4 (YoY)
- Stock fell as mcuh as 2.1 p[ercent to Rs 55.80.
- Net Interest Income down 7 percent at Rs 743.5 crore.
- Net profit down 99 percent at Rs 1.6 crore.
RBL Bank Q4 (YoY)
- Stock fell as much as 2.2 percent to Rs 525.90.
- NII up 42 percent at Rs 500 crore.
- Net Profit up 37 percent at Rs 178 crore.
- Provisions at Rs 113 crore versus Rs 82.3 crore (QoQ).
- Gross NPA at 1.40 percent versus 1.56 percent (QoQ).
- Net NPA at 0.78 percent versus 0.97 percent (QoQ).
Idea Q4 (QoQ)
- Stock rose as much as 4.7 percent to Rs 72.
- Net loss at Rs 962 crore versus net loss of Rs 1,285 crore.
- Revenue down 6 percent at Rs 6,137 crore.
- Ebitda up 18 percent at Rs 1,447 crore.
- Margin at 23.6 percent versus Rs 18.8 percent.
- Other Income up six times to Rs 250 crore.
Shoppers Stop Q4 (YoY)
- Stock fell as much as 2.6 percent to Rs 563.55.
- Revenue down 7 percent at Rs 850 crore.
- Net profit of Rs 21 crore versus net loss of Rs 36 crore.
- Ebitda flat at Rs 52 crore.
- Margins at 6.1 percent versus 5.7 percent.
NELCO Q4 (YoY)
- Stock rose as much as 4.9 percent to Rs 210.95.
- Revenue up 5 percent at Rs 39 crore.
- Net profit up 300 percent at Rs 4 crore.
- Ebitda up 100 percent at Rs 8 crore.
- Margins at 20.5 percent versus 10.8 percent.
Merck Q4 (YoY)
- Stock rose as much as 11.5 percent to Rs 1,992.50.
- Revenue up 27 percent at Rs 301 crore.
- Ebitda up 84 percent at Rs 42 crore.
- Margin at 13.8 percent versus 9.9 percent.
- Net profit up 53 percent at Rs 22.7 crore.
- Exceptional gain of Rs 6.5 crore related to the sale of office property in Mumbai in March quarter.
LG Balakrishnan Q4 (YoY)
- Stock rose as much as 7.3 percent to Rs 1,364.
- Revenue up 12 percent at Rs 342.5 crore.
- Ebitda up 20 percent at Rs 49 crore.
- Margin at 14 percent versus 13.5 percent.
- Net profit up 4 percent to Rs 22.7 crore.
MCX Q4 (YoY)
- Stock rose as much as 3 percent to Rs 818.
- Revenue up 13 percent at Rs 70.6 crore.
- Ebitda up 77 percent at Rs 23 crore.
- Margin at 32.5 percent versus 20.7 percent.
- Net Profit up 56.5 percent at Rs 34.2 crore.
- Tax expenses lower at 24.7 percent versus 32.7 percent.
- Other expenses down 19 percent at Rs 13.6 crore.
Greenply Q4 (YoY)
- Stock rose as much as 1.7 percent to Rs 315.
- Revenue down 21.5 percent at Rs 339 crore.
- Ebitda down 3 percent to Rs 54 crore.
- Margin at 16 percent versus 12.9 percent.
- Net profit up 10 percent at Rs 34.3 crore.
Can Fin Homes Q4 (YoY)
- Stock fell as much as 4 percent to Rs 426.60.
- Revenue from operations up 10.7 percent at Rs 399 crore.
- Net profit up 6.5 percent to Rs 75.5 crore.
- Gross NPA at 0.43 percent versus 0.46 percent (QoQ).