Stocks Radar: Cipla, Tata Motors, Vedanta
Indian equity benchmarks declined in early trade today on weak Asian cues. The benchmark indices halted its longest losing streak in over two months yesterday.
The S&P BSE Sensex fell as much as 0.4 percent to 34,520, while the NSE Nifty 50 fell as much as 0.5 percent to 10,480.
The market breadth, however, was tilted in favour of buyers. Six out of 11 sectoral gauges compiled by NSE fell, led by NSE Nifty Metal Index's 1.1 percent decline. On the flipside, NSE Nifty PSU Bank Index was the top sectoral gainer, up 4 percent.
Here Are The Stocks Moving The Market This Morning
Sun Pharma Up On FDA Boost
Shares of the drugmaker rose as much as 1.6 percent to Rs 460.15.
The pharmaceutical company received a green signal from the U.S. FDA for its cancer drug Yonsa, according to its stock exchange notification.
Sun Pharma trades at 15.7 times trailing 12-month earnings per share and 34 times its estimates for the coming year, Bloomberg data showed. The stock is 15 percent below the Bloomberg consensus one-year target price.
Vedanta Slumps As Protest Against Unit Turns Violent
Glenmark Pharma Gains After FDA Nod
Shares of the pharmaceutical company rose as much as 1.6 percent to Rs 520.
The drugmaker received final approval by the U.S. drug regulator for Colesevelam Hydrochloride tablets.
Trading volume was 1.3 times its 20-day average. The stock trades at 14.6 percent estimated forward earnings per share, compared to the two-year average of 16 times.
Tata Motors Gains Ahead Of Earnings
The stock declined 30.8 percent over the past year, compared to 15.5 percent advance in the benchmark Sensex.
Stocks Reacting To Earnings
Bata India (Q4, YoY)
- Stock rose as much as 3.4 percent to Rs 775.75.
- Revenue up 7 percent at Rs 632 crore.
- Net profit up 44 percent at Rs 52 crore.
- Ebitda up 43 percent at Rs 82 crore.
- Margin at 13 percent.
Future Consumer (Q4, YoY)
- Stock fell as much as 2.2 percent to Rs 54.75.
- Revenue up 51 percent at Rs 807 crore.
- Net loss of Rs 4 crore.
- Ebitda at Rs 17 crore from Rs 2 crore.
- Margin at 2.1 percent.
L&T Technology Services (Q4, YoY)
- Stock rose as much as 7.4 percent to Rs 1,367.
- Revenue up 30 percent at Rs 1,055 crore.
- Net profit up 66 percent at Rs 159 crore.
- Other income of Rs 75.5 crore in current quarter.
- Ebitda up 21.5 percent at Rs 164 crore.
- Margin at 15.5 percent.
Minda Industries (Q4, YoY)
- Stock rose as much as 5.9 percent to Rs 1,190.
- Revenue up 53 percent at Rs 1,371 crore.
- Net profit up 122 percent at Rs 140 crore.
- Profit higher due to exceptional gain of Rs 38 crore in current quarter.
- Ebitda up 62 percent at Rs 170 crore.
- Margin at 12.4 percent.
Music Broadcast (Q4, YoY)
- Stock rose as much as 6.6 percent to Rs 359.
- Revenue up 13.4 percent at Rs 76 crore.
- Net profit up 3.55 times at Rs 16 crore.
- Ebitda up 54 percent at Rs 27 crore.
- Margin at 35.5 percent.
HPCL (Q4, QoQ)
- Stock fell as much as 2.5 percent to Rs 304.
- Revenue up 6 percent at Rs 60,810 crore.
- Net profit down 10 percent at Rs 1,748 crore.
- EBITDA down 8 percent at Rs 2,923 crore.
- Margin at 4.8 percent.
- FY18 GRM at $7.40/barrel versus $6.20/barrel (YoY).
Healthcare Global Enterprises (Q4, YoY)
- Stock fell as much as 2.3 percent to Rs 302.25.
- Revenue up 22 percent at Rs 222 crore.
- Net profit down 57 percent at Rs 3 crore.
- Ebitda up 7 percent at Rs 32 crore.
- Margin at 14.4 percent.
TV Today Network (Q4, YoY)
- Stock fell as much as 4.8 percent to Rs 426.
- Revenue up 2 percent at Rs 181 crore.
- Net profit down 11 percent at Rs 33 crore.
- Ebitda up 8 percent at Rs 52 crore.
- Margin at 28.7 percent.
Cipla (Q4, YoY)
- Stock rose as much as 7.8 percent to Rs 564.90.
- Revenue up 3 percent at Rs 3,698 crore.
- Net profit of Rs 179 crore.
- Ebitda up 10 percent at Rs 557 crore.
- Margin at 15.1 percent.
Igarashi Motors India (Q4, YoY)
- Stock fell as much as 3.5 percent to Rs 768.
- Revenue down 19 percent at Rs 106 crore.
- Net profit down 13 percent at Rs 16.5 crore.
- Ebitda down 7 percent at Rs 27 crore.
- Margin at 25.5 percent.
Sonata Software (Q4, QoQ)
- Stock fell as much as 4.1 percent to Rs 332.30.
- Revenue down 18 percent at Rs 626 crore.
- Net profit up 10 percent at Rs 54 crore.
- Other income of Rs 12 crore in current quarter.
- Ebit flat at Rs 61 crore.
- Margin at 9.7 percent.