Stocks Radar: Tata Steel, Divi’s Lab, Zee Media, Future Enterprises

Indian equity benchmarks swung between gains and losses in early trade. The S&P BSE Sensex Index and the NSE Nifty 50 Index traded flat at 35,396 and 10,742, respectively.

The market breadth, however, was tilted in favour of buyers. Seven out of 11 sectoral gauges compiled by NSE advanced, led by NSE Nifty FMCG Index’s 0.3 percent gain. On the flipside, NSE Nifty Metal Index was the top sectoral loser, down 1.1 percent.

Here Are The Stocks Moving The market This Morning

Divi’s Lab: Gains After U.S. FDA Inspection Concludes

Shares of the pharmaceutical company rose as much as 4.1 percent, the most in nearly two months, to Rs 1,213.

The U.S. FDA completed an inspection of the drugmaker's unit 1 at Telangana with no observations under Form 483, according to its exchange filing.

Trading volume was 10.5 times its 20-day average. The stock has returned 9.9 percent so far this year and a gain of 97 percent in the past 12 months.

Tata Steel: Swings After Q4 Results Announcement

Shares of the steelmaker declined 0.2 percent to Rs 607 apiece after paring early gains.

The company posted its first fourth quarter profit in four years, surpassing analysts’ estimates aided by a one-time gain amid strong demand and buoyant global prices. (More details here).

Trading volume was 7.9 times its 20-day average. Tata Steel trades at 3.2 times trailing 12-month earnings per share and 8.5 times its estimates for the coming year, Bloomberg data showed.

JSW Steel: Swings After Results Announcement

Shares of the country's largest steelmaker swung between gains and losses and traded at 332.40 as of 9:40 a.m.

The company's March quarter profits rose nearly threefold on account of a one-time gain and improved performance of its subsidiaries in the U.S.

JSW Steel trades at 12.7 times trailing 12-month earnings per share and 13 times its estimates for the coming year, according to Bloomberg. The stock is within one percent of the Bloomberg consensus one-year target price.

Other Stocks Reacting To Earnings

Prataap Snacks (Q4, YoY)

• Stock rose as much as 3.1 percent to Rs 1,423.70.
• Revenue up 30 percent at Rs 279.5 crore.
• Net profit down 13 percent at Rs 10 crore.
• Ebitda up 75 percent at Rs 21 crore.
• Margin at 7.5 percent versus 5.6 percent.

Manali Petrochemical (Q4, YoY)

• Stock rose as much as 20.3 percent to Rs 41.55.
• Revenue up 26 percent at Rs 190 crore.
• Net profit at Rs 27 crore from Rs 7 crore.
• Ebitda at Rs 44 crore from Rs 11 crore.
• Margin at 23.2 percent versus 7.3 percent.

JK Lakshmi Cement (Q4, YoY)

• Stock rose as much as 6.5 percent to Rs 409.65.
• Revenue up 11 percent at Rs 897 crore.
• Net profit up 62 percent at Rs 34 crore.
• Ebitda up 40 percent at Rs 101 crore.
• Margin at 11.3 percent versus 8.9 percent.

Gujarat State Fertilizers (Q4, YoY)

• Stock fell as much as 6.3 percent to Rs 123.35.
• Revenue up 33 percent at Rs 2,055 crore.
• Net profit down 17 percent at Rs 156 crore.
• Ebitda up 97 percent at Rs 227 crore.
• Margin at 11 percent versus 7.5 percent.

Muthoot Finance (Q4, YoY)

• Stock fell as much as 7.6 percent to Rs 387.60.
• Revenue from operations down 9.3 percent at Rs 1,551 crore.
• Net profit up 40 percent at Rs 451 crore.
• Other income at Rs 57 crore versus Rs 3.6 crore.
• Provisions and write-offs at Rs 59.6 crore.

Tasty Bite Eatables (Q4, YoY)

• Stock fell as much as 8.3 percent to Rs 8,000.
• Revenue up 12 percent at Rs 79 crore.
• Net profit down 5.5 percent at Rs 7.8 crore.
• Ebitda up 3 percent at Rs 15 crore.
• Margin at 19 percent versus 20.6 percent.

Praj Industries (Q4, YoY)

• Stock rose as much as 6.4 percent to Rs 105.15.
• Revenue down 9 percent at Rs 274.5 crore.
• Net profit up 17 percent at Rs 27 crore.
• Ebitda down 18 percent at Rs 31 crore.
• Margin at 11.3 percent versus 12.6 percent.

Dishman Carbogen Amcis (Q4, YoY)

• Stock fell as much as 3.4 percent to Rs 338.55.
• Revenue down 15 percent at Rs 451.5 crore.
• Net profit up 19 percent at Rs 51 crore.
• Ebitda down 17 percent at Rs 121 crore.
• Margin at 26.8 percent versus 27.3 percent.

Zee Media (Q4, YoY)

• Stock fell as much as 6.1 percent to Rs 32.50.
• Revenue up 33 percent at Rs 180 crore.
• Net profit down 44 percent at Rs 2.5 crore.
• Ebitda down 43 percent at Rs 20 crore.
• Margin at 11.1 percent versus 25.9 percent.

Stocks Reacting To Block Deals

Axis Bank:

• Stock fell as much as 1.6 percent to Rs 541.
• About 10 lakh shares changed hands in a block deal.

Future Enterprises:

• Stock rose as much as 14 percent to Rs 44.65.
• About 11.6 lakh shares changed hands in a block deal.

Electrosteel Steels:

• Stock fell as much as 24.8 percent to Rs 1.09.
• About 98 lakh shares changed hands in a block deal.

Buyers and sellers were not known immediately

Source: Bloomberg