Stocks Radar: Apex Frozen Foods, L&T, Vedanta

Indian equity benchmarks pared early losses and traded marginally higher today. The S&P BSE Sensex fell 0.03 percent to 35,176.15 and the NSE Nifty 50 rose 0.02 percent to 10,690.60 as of 9:50 a.m.

Nine of the 11 sector gauges compiled by the National Stock Exchange were trading lower, led by the Nifty PSU Bank Index which fell 1.2 percent. The Nifty IT Index was the top sectoral gainer, up 0.9 percent.

Here Are The Stocks Moving The Market This Morning

L&T: Gains After Q4 Results

Shares of Larsen & Toubro Ltd. extended gains for the sixth straight session, in its longest winning streak in over two months. The stock rose as much as 3.5 percent—the most in four months to Rs 1,422.50 apiece.

The construction firm’s profit rose for the ninth straight quarter. Its operational performance surpassed analysts’ consensus estimates.

Key earnings highlights (Q4, year-on-year):

• Revenue up 11 percent at Rs 40,678 crore.
• Net profit up 5 percent at Rs 3,167 crore.
• Ebitda up 23 percent at Rs 5,390 crore.
• Margin up at 13.2 percent from 11.9 percent.

It expects a 12-15 percent increase in revenue and a 10-12 percent rise in order inflows in the ongoing financial year.

Vedanta: Copper Plant Closes Permanently

Shares of the base metal manufacturer declined for the second day today. It fell as much as 6.2 percent to Rs 237.90 apiece after the Tamil Nadu government ordered permanent shutdown of the company’s copper smelter plant in Tuticorin.

Trading volume was seven times its 20-day average. Vedanta trades at 7.2 times trailing 12-month earnings per share and 7.2 times its estimates for the coming year, according to Bloomberg data.

Arihant Superstructures: Unit Receives Loan Approval

Shares of the real estate developer rose as much as 2.3 percent to Rs 124.50 apiece.

The company’s subsidiary received a loan sanction amounting to Rs 250 crore from HDFC for the Panvel Project.

Trading volume was 94.5 times its 20-day average. The stock declined 31 percent so far this year.

Bharat Petroleum: Gains Ahead Of Earnings

Shares of the oil marketer rose as much as 1 percent to Rs 406.20 apiece ahead of its earnings announcement.

The stock trades at 8.5 times estimated forward earnings per share, compared with 10.6 times for two-year historical average, Bloomberg data showed. The scrip is testing resistance at a 50-day moving average.

Stocks Reacting To Earnings

Lumax Industries (Q4, YoY)

• Stock fell as much as 0.8 percent to Rs 2,322.75.
• Revenue up 45 percent at Rs 559 crore.
• Net profit rose to Rs 17.7 crore.
• Ebitda rose 81.6 percent to Rs 46.5 crore.
• Margin stood at 8.3 percent.
• Deferred tax credit amounts to Rs 6.7 crore.

Finolex Cables (Q4, YoY)

• Stock fell as much as 2.5 percent to Rs 663.10.
• Revenue was up 12.2 percent to Rs 796 crore.
• Net profit was up 8.3 percent to Rs 81.8 crore.
• Ebitda was up 14.3 percent at Rs 115.4 crore.
• Margin stood at 14.5 percent against 14.2 percent.

Apex Frozen Foods (Q4, YoY)

• Stock rose as much as 15 percent to Rs 680.
• Revenue was up 23.8 percent at Rs 203.1 crore.
• Net profit rose to Rs 17.5 crore.
• Ebitda stood at Rs 24.9 crore.
• Margin stood at 12.3 percent against 7 percent.

Minda Corporation (Q4, YoY)

• Stock fell as much as 1.9 percent to Rs 188.10.
• Revenue was up 39.9 percent at Rs 720.5 crore.
• Net profit rose to Rs 38.7 crore.
• Ebitda was up 2.1 times at Rs 81.8 crore.
• Margin stood at 11.4 percent compared with 7.5 percent.

MM Forgings (Q4, YoY)

• Stock rose as much as 5.5 percent to Rs 1,247.85.
• Revenue was up 65.6 percent at Rs 199.5 crore.
• Net profit rose to Rs 27.4 crore.
• Ebitda was up 63.6 percent to Rs 38.6 crore.
• Margin stood at 19.3 percent against 19.6 percent.

NMDC (Q4, YoY)

• Stock rose as much as 3.5 percent to Rs 123.65.
• Revenue was up 35.2 percent to Rs 3,883 crore.
• Net profit rose to Rs 1,105.9 crore.
• Ebitda was up 104 percent at Rs 1,901 crore.
• Margin stood at 49 percent against 32.5 percent.

Elgi Equipments (Q4, YoY)

• Stock rose as much as 2.8 percent to Rs 294.05.
• Revenue was up 24.1 percent at Rs 462.2 crore.
• Net profit was up 30.3 percent at Rs 27.1 crore.
• Ebitda was up 2.7 times at Rs 51.6 crore.
• Margin stood at 11.2 percent compared with 5.2 percent.

Bank of India (Q4, YoY)

• Stock fell as much as 1.9 percent to Rs 142.60.
• Net interest income was down 26.1 percent to Rs 2,563.8 crore.
• Net loss stood at Rs 3,969.3 crore.
• Provisions were up 53.2 percent at Rs 6,699.2 crore (quarter-on-quarter).
• Gross Non performing assets stood at 16.58 percent (quarter-on-quarter).
• NPA stood at 8.26 percent (quarter-on-quarter).

Oil India (Q4, quarter-on-quarter)

• Stock rose as much as 5.6 percent to Rs 232.50.
• Revenue was up 5.1 percent at Rs 2,998.4 crore.
• Net profit was up 22.9 percent at Rs 866.5 crore.
• Ebitda was down 34.6 percent at Rs 800.7 crore.
• Margin stood at 26.7 percent against 10.29 percent.

Gravita India (Q4, YoY)

• Stock fell as much as 2.2 percent to Rs 165.
• Revenue was up 79.1 percent at Rs 362.4 crore.
• Net profit was up 20 percent at Rs 12 crore.
• Ebitda was up 29 percent at Rs 24.9 crore.
• Margin stood at 6.9 percent compared with 9.5 percent.

Aurobindo Pharma (Q4, YoY)

• Stock fell as much as 7.5 percent to Rs 560.
• Revenue was up 11 percent at Rs 4,049 crore.
• Net profit was down 0.5 percent to Rs 529 crore.
• Ebitda was up 11 percent at Rs 805 crore.
• Margin stood at 19.9 percent against 19.8 percent.

Shilpa Medicare (Q4, YoY)

• Stock fell as much as 2.1 percent to Rs 427.95.
• Revenue was up 5.8 percent at Rs 234.5 crore.
• Net profit was down 18 percent at Rs 30.6 crore.
• Ebitda was down 16.1 percent at Rs 47.5 crore.
• Margin stood at 20.3 percent against 25.5 percent.

United Bank of India (Q4)

• Stock fell as much as 1.6 percent to Rs 11.66.
• Net interest income was up 2.3 percent year-on-year at Rs 513.5 crore.
• Net loss stood at Rs 260.6 crore compared with a net profit of Rs 735.6 crore.
• Provisions were up 38.3 percent at Rs 1,333.4 crore (quarter-on-quarter).
• Gross Non performing assets stood at 24.1 percent against 20.1 percent (quarter-on-quarter).
• NPA stood at 16.49 percent compared with 11.96 percent (quarter-on-quarter).

NLC India (Q4, YoY)

• Stock fell as much as 4.9 percent to Rs 81.80.
• Revenue was down 10.3 percent at Rs 2,542.9 crore.
• Net profit was down 84 percent at Rs 381.3 crore.
• Ebitda was down 47 percent at Rs 878.8 crore.
• Margin stood at 34.6 percent against 58.4 percent.

Rural Electrical Corporation (Q4, YoY)

• Stock fell as much as 3 percent to Rs 115.70.
• Revenue was down 3.7 percent at Rs 5,632 crore.
• Net profit was down 36.7 percent at Rs 834.8 crore.
• Ebitda was down 4 percent at Rs 4,975.8 crore.
• Margin stood at 88.3 percent compared with 88.6 percent.