Stocks Radar: Alembic Pharma, Century Textiles, Sheela Foam, Tata Steel

Indian equity benchmarks, which posted their highest weekly losses in over a month, remained subdued in early trade today.

Both the S&P BSE Sensex Index and the NSE Nifty 50 Index traded flat at 34,836.25 and 10,593.10, respectively, as of 9:25 a.m.

The market breadth was tilted in favour of sellers. Six out of 11 sectoral gauges compiled by NSE advanced, led by NSE Nifty PSU Bank Index’s 1.9 percent gain. On the flipside, NSE Nifty Auto Index was the top sectoral gainer, up 0.7 percent.

Here Are The Stocks Moving The Market This Morning

Century Textiles: Slips After Unit Demerger Plans

Shares of the Mumbai-based company fell as much as 8.5 percent to Rs 975.05.

The company plans to demerge its cement business and merge with the country’s largest cement maker UltraTech Cement Ltd., according to its stock exchange notification.

Century Textiles trades at 32.0 times trailing 12-month earnings per share, Bloomberg data showed. The stock is 35 percent below the Bloomberg consensus one-year target price.

Tata Steel: Completes Bhushan Steel Acquisition

Shares of the steelmaker snapped a three-day decline, its longest losing streak in nearly a month. The stock rose as much as 1.5 percent to Rs 600.

The company completed the acquisition of 73 percent stake in Bhushan Steel Ltd. as part of its resolution plan under the Insolvency and Bankruptcy Code, according to its stock exchange filing.

The stock has declined 14 percent in 2018, compared to a 31 percent gain in the last 12 months.

Alembic Pharma: Regulatory Concerns Prevail

Shares of the drug maker fell as much as 2.9 percent to Rs 452. The pharmaceutical company received Form 483 with one observation on Karkhadi API unit, according to its notification on exchanges.

Form 483 is used by the FDA to document and communicate concerns discovered during plant inspections.

The stock has declined 12.3 percent so far this year, compared to 2.5 percent advance in the benchmark Sensex.

Strides Shasun: Board Approves Merger

Shares of the pharmaceutical company fell as much as 4.4 percent to Rs 370. The company's board approved the merger of Arrow Remedies and Fargis Medica with self, according to its statement on exchange filing.

The stock fell 39 percent in the past month, compared 1.3 percent advance in Sensex.

Stocks Reacting To Earnings

Bajaj Holdings & Investment (Q4, YoY)

• Stock fell as much as 1.5 percent to Rs 2,720.05.
• Revenue up 23 percent at Rs 221 crore.
• Net profit up 42 percent at Rs 801 crore.
• Share of profit after tax of associates up 38 percent at Rs 599 crore versus Rs 432.5 crore.

Prabhat Dairy (Q4, YoY)

• Stock rose as much as 3.3 percent to Rs 181.80.
• Revenue up 7 percent at Rs 405 crore.
• Net profit at Rs 18 crore versus net loss of Rs 2 crore.
• Tax credit of Rs 0.3 crore in current quarter versus tax outgo of Rs 14 crore in base quarter.
• Ebitda up 37 percent at Rs 41 crore.
• Margins at 10.1 percent versus 8 percent.

Sheela Foam (Q4, YoY)

• Stock rose as much as 3.9 percent to Rs 1,350.
• Revenue up 15 percent at Rs 528 crore.
• Net profit up 88 percent at Rs 32 crore.
• Ebitda up 121 percent at Rs 53 crore.
• Margin at 10 percent versus 5.2 percent.

Tata Chemicals (Q4, YoY)

• Stock rose as much as 1.5 percent to Rs 730.
• Revenue up 2 percent at Rs 2,555 crore.
• Net profit up 4 times at Rs 1,169 crore.
• Exceptional gain of Rs 1,267 crore in current quarter from sale of fertilizer business.
• Ebitda up 8 percent at Rs 512.5 crore.
• Margin at 20.1 percent versus 18.9 percent.

Asian Granito India (Q4, YoY)

• Stock fell as much as 1.2 percent to Rs 446.50.
• Revenue up 18 percent at Rs 392 crore.
• Net profit up 6 percent at Rs 17 crore.
• Ebitda up 3 percent at Rs 36 crore.
• Margin at 9.2 percent versus 10.5 percent.

Den Networks (Q4, YoY)

• Stock fell as much as 2.9 percent to Rs 95.05.
• Revenue down 1 percent at Rs 315 crore.
• Net loss of Rs 10 crore versus net loss of Rs 60 crore.
• Exceptional loss of Rs 31 crore.
• Ebitda flat at Rs 56 crore.
• Margin at 17.8 percent versus 17.7 percent.

Inox Wind (Q4, YoY)

• Stock fell as much as 2.4 percent to Rs 95.
• Revenue down 80 percent at Rs 203 crore.
• Net profit down 56 percent at Rs 56 crore.
• Ebitda loss of at Rs 30 crore versus Ebitda profit of Rs 229 crore.
• Margins at -14.8 percent versus 22.5 percent.

Manappuram Finance (Q4, YoY)

• Stock fell as much as 2.7 percent to Rs 110.70.
• Net interest income up 2 percent at Rs 622 crore versus Rs 609 crore.
• Net profit down 9.5 percent at Rs 182 crore versus Rs 201 crore.

Thermax (Q4, YoY)

• Stock fell as much as 3.6 percent to Rs 1,120.05.
• Revenue down 3 percent at Rs 1443 crore.
• Net profit at Rs 76 crore; one-time loss of Rs 65 crore in the base quarter.
• Ebitda down 20 percent at Rs 138.5 crore.
• Margin at 9.6 percent versus 11.6 percent.

Kalyani Steels (Q4, YoY)

• Stock fell as much as 4.9 percent to Rs 280.05.
• Revenues up 12 percent at Rs 356 crore.
• Net profit down 21 percent at Rs 30 crore.
• Ebitda down 10 percent at Rs 55 crore.
• Margin at 15.4 percent versus 19.2 percent.

Future Lifestyle Fashions (Q4, YoY)

• Stock fell as much as 7.2 percent to Rs 407.20.
• Revenue down 1 percent at Rs 977 crore.
• Net profit down 64 percent at Rs 26 crore.
• Exceptional gain of Rs 13 crore and tax credit of Rs 11 crore in base quarter.
• Ebitda down 5 percent at Rs 88 crore versus Rs 93 crore.
• Margin at 9.0 percent versus 9.4 percent.

Kitex Garments (Q4, YoY)

• Stock fell as mcuh as 18.8 percent to Rs 183.50.
• Revenue down 26 percent at Rs 131 crore.
• Net profit down 63 percent at Rs 10 crore.
• Ebitda down 62 percent at Rs 18 crore.
• Margin at 13.7 percent versus 26.8 percent.

Sobha (Q4 Consolidated, YoY)

• Stock fell as much as 1.5 percent to Rs 522.
• Revenue up 31.8 percent at Rs 769.6 crore.
• Net Profit up 39.1 percent at Rs 65.4 crore.
• Ebitda up 23.8 percent at Rs 136.4 crore.
• Margin at 17.7 percent vs 18.9 percent.