Stocks Radar: Bharti Airtel, Future Group, Ashoka Buildcon, Federal Bank

Indian equity benchmarks gained for fourth straight session led by Bharti Airtel, ONGC and Tech Mahindra.

The S&P BSE Sensex Index rose as much as 0.5 percent to 35,500, while the NSE Nifty 50 Index climbed as much as 0.4 percent to 10,785. They subsequently pared some of those gains.

The market breadth was evenly split between buyers and sellers. Sixteen of the 19 sectoral gauges compiled by the BSE Ltd. rose, led by the S&P BSE Telecom Index’s 0.74 percent rise. Among the top losers, the basic materials index fell the most, down 0.18 percent.

Here Are The Stocks Moving The Markets This Morning:

Future Group Stocks Up On Stake Sale Talks

Shares of the companies under the aegis of the Future Group surged after founder Kishore Biyani said group was looking to sell a minimum of 10 percent stake to a global retailer. This comes on the back of the mega Walmart-Flipkart deal that was announced yesterday.

• Future Retail rose as much as 5 percent to Rs 600.7.
• Future Consumer rose as much as 8.6 percent to Rs 61.5
• Future Lifestyle Fashions rose as much as 3.3 percent to Rs 470

Bharti Airtel: Top Gainer

Shares of the Suni Bharti Mittal-led telecom company rose as much as 2.6 percent to Rs 412.7, extending its gains to a fourth straight trading session.

Bharti Airtel was the top gainer on Sensex in early trade. Gains in the counter made the S&P BSE Telecom Index the top sectoral performer in early trade.

Bharti Airtel Ltd. is looking to pare its debt of $4.6 billion over the next three years by listing its African unit and selling some stake in its tower business, according to a report on Bloomberg. It plans to raise at least $1.5 billion via the equity sale, which could take place by early 2019, either in South Africa or London.

The stock price has crossed its 50-day moving average on high trading volume. In today’s session, the trading volume was 1.9 times the 20-day average.

Ashoka Buildcon: Compensated For Toll Loss

Shares of the Mumbai-based road building company rose as much as 3.3 percent to Rs 281.8.

Ashoka Buildcon Ltd.’s's wholly owned subsidiary, Ashoka Infraways Ltd., which had executed the Dewas Bypass Road Project in Madhya Pradesh was awarded 1,384 additional toll days by a tribunal, the company said in an exchange filing.

The tribunal also awarded the company an amount of Rs 37.7 crore to compensate for the loss it incurred after the closure of two toll plazas, the filing added.

All 23 analysts polled by Bloomberg that track this stock have a ‘Buy’ recommendation. The 12-month Bloomberg consensus target price is currently Rs 301.

Possible Profit Booking?

• Relaxo Footwears Ltd. slips over 1.5 percent. The stock had risen nearly 10 percent yesterday.
• Firstsource Solutions Ltd. falls nearly 2.5 percent. The stock had risen over 15.5 percent yesterday.

Stocks Reacting To Q4 Earnings

Federal Bank:

Shares fell as much as 12.8 percent, lowest in more than two years, to Rs 88.3.

• Net Interest Income up 11 percent at Rs 933 crore
• Net profit down 44 percent at Rs 145 crore
• Provisions up 129 percent at Rs 371.5 crore from Rs 162 crore (QoQ)
• GNPA at 3.0 percent
• NPA at 1.69 percent

Eicher Motors:

Shares fell as much as 0.8 percent to Rs 30,075.1.

• Revenue up 33.9 percent at Rs 2528 crore
• Ebitda up 36.3 percent at Rs 797.2 crore
• Net Profit up 0.5 percent at Rs 461.5 crore
• Margin at 31.5 percent from 31 percent

SIS:

Shares fell as much as 8.7 percent, the most in over three months, to Rs 1,202.

• Revenue up 29 percent at Rs 1592 crore
• Net profit down 36 percent at Rs 36 crore
• Tax credit of Rs 23 crore in base quarter
• Ebitda up 32 percent at Rs 86 crore
• Margin at 5.4 percent from 5.3 percent

Sintex Plastics:

Shares fell as much as 7.4 percent to Rs 50.1

• Revenue down 3 percent at Rs 1293 crore
• Net loss of Rs 12 crore from net profit of Rs 52 crore
• Ebitda down 36 percent at Rs 118 crore
• Margin at 9.1 percent from 13.9 percent