Stocks Radar: Bajaj Auto, Container Corp, HCL Technologies

Indian equity benchmarks erased early gains, snapping a three-day winning streak, the longest in over two weeks.

The S&P BSE Sensex Index fell as much as 0.1 percent to 35,132, while the NSE Nifty 50 Index fell as much as 0.1 percent to 10,725.50.

The market breadth was tilted in favour of sellers. Six out of 11 sectoral gauges compiled by NSE fell, led by NSE Nifty IT Index’s 1.7 percent decline. On the flipside, NSE Nifty Media Index was the top sectoral gainer, up 1.1 percent.

Here Are The Stocks Moving The Market This Morning

HCL Technologies: Declines After Earnings Report

Shares of the country’s third-largest technology company fell as much as 5 percent, the most in over six months, to Rs 1,000 per share. It quickly recovered some of those losses, indicating that some of the selling could have been on account of profit booking.

The company’s net profit stood at Rs 2,227 crore in March quarter, an increase of 1.5 percent compared to the previous quarter, according to its stock exchange notification. That was in-line with the Rs 2,248 crore, estimated by analysts tracked by Bloomberg. (more details here)

The stock is 7.2 percent below the Bloomberg consensus one-year target price.

L&T: Gains After Unit Sale Plans

Shares of the construction giant rose as much as 1.7 percent to Rs 1,424.5 per share.

The company plans to sell its electrical and automation division to Schneider Electric for Rs 14,000 crore, according to a notification to the stock exchanges.

Trading volume was 5.2 times its 20-day average. L&T trades at 32.1 times trailing 12-month earnings per share and 28 times its estimates for the coming year., according to Bloomberg data.

BHEL: Gains After Order Win

Shares of the state-run heavy electrical products maker rose as much as 2 percent to Rs 89.55.

The company received an order for a 900 MW hydropower project in Nepal, it said in a notification to the stock exchanges.

The stock has declined nearly 3 percent so far this year, and is 23 percent lower compared to where it was a year ago.

Auto Stocks Reacting To April Sales

Bajaj Auto

• Stock rose as much as 7.8 percent to Rs 3,183.80.
• Sales rose 26 percent on a yearly basis to 4.15 lakh units.

TVS Motor Company

• Stock rose as much as 1.1 percent to Rs 675.
• Sales rose 24 percent on a yearly basis to 3.04 lakh units.

Eicher Motors

• Stock fluctuated between gains and losses and traded at Rs 30,961.
• Sales rose 27 percent on a yearly basis to 76,187 units.

Mahindra & Mahindra

• Stock fell as much as 0.8 percent to Rs 866.30.
• Sales rose 22 percent on a yearly basis to 48,097 units.

Tata Motors

• Stock rose as much as 3.4 percent to Rs 352.
• Sales rose 86 percent on a yearly basis to 53,511 units.

Maruti Suzuki

• Stock rose as much as 2.1 percent to Rs 8,998.
• Sales rose 14.4 percent on a yearly basis to 1.72 lakh units.

Escorts

• Stock rose as much as 1.4 percent to Rs 1,018.50.
• Sales rose 26.3 percent on a yearly basis to 6,186 units.

Other Stocks Reacting To Earnings

Hindustan Zinc (Q4, YoY)

• Stock fell as much as 4.3 percent to Rs 312.95.
• Revenue flat at Rs 6,277 crore.
• Net profit down 18 percent at Rs 2,505 crore.
• Ebitda down 3 percent at Rs 3,620 crore.
• Margin at 57.7 percent versus 59.8 percent.

Ceat (Q4, YoY)

• Stock rose as much as 3.8 percent to Rs 1,650.
• Revenue up 14 percent at Rs 1,674 crore.
• Net profit up 17 percent at Rs 77 crore.
• Ebitda up 50 percent at Rs 198 crore.
• Margin at 11.8 percent versus 9 percent.

Alicon Castalloy (Q4, YoY)

• Stock rose as much as 6.5 percent to Rs 679.30.
• Revenue up 43 percent at Rs 298 crore.
• Net profit at Rs 13 crore versus Rs 8 crore.
• Ebitda at Rs 37 crore versus Rs 25.5 crore.
• Margin at 12.4 percent versus 12.3 percent.

KPR Mill (Q4, YoY)

• Stock fell as much as 2.2 percent to Rs 682.50.
• Revenue up 5 percent at Rs 820.5 crore.
• Net profit up 1 percent at Rs 73 crore.
• Ebitda up 7.5 percent at Rs 150.5 crore.
• Margin at 18.3 percent versus 17.9 percent.

Dabur (Consolidated, Q4, YoY)

• Stock rose as much as 3.7 percent to Rs 383.
• Revenue up 6 percent at Rs2033 crore.
• Net profit up 19 percent at Rs397 crore.
• Ebitda up 16 percent at Rs 485 crore.
• Margin at 23.9 percent versus 21.8 percent.
• Domestic volume growth at 7.7 percent.

Container Corp (Q4, YoY)

• Stock rose as much as 2.8 percent to Rs 1,339.95.
• Revenue up 2 percent at Rs 1,641 crore.
• Net profit down 12.5 percent to Rs 294 crore.
• Ebitda down 14 percent at Rs 428.5 crore.
• Margin at 26.1 percent versus 30.9 percent.
• Dividend of Rs 7.5 per share.
• Stock split in ratio 1:2.