Stocks Radar: ICICI Bank, RCom, Coal India
Indian equity benchmarks rose led by HDFC Bank and energy shares after posting losses in previous two sessions.
The S&P BSE Sensex rose as much as 0.7 percent to 35,152 and the NSE Nifty 50 rose as much as 0.6 percent to 10,676.1.
Eleven out of the 19 sectoral gauges were trading lower led by the S&P BSE Power index's 0.67 percent decline. On the other hand, the S&P BSE Telecom index was the top gainer, up 0.81 percent.
Here Are The Stocks Moving The Markets This Morning:
ICICI Bank: Falls As Probe Against CEO Initiated
Shares of the Chanda Kochhar-led private bank fell as much as 1.7 percent to Rs 280.1. It was trading as one of the top losers on the benchmark indices in early trade today.
ICICI Bank Ltd. said yesterday that it will conduct an independent enquiry into an anonymous whistleblower’s complaint about alleged impropriety by its Managing Director and Chief Executive Officer Chanda Kochhar.
Also read: Chanda Kochhar: CEO, ICICI Bank (2009-?)
The stock has been trading in the red for the past three consecutive trading sessions and has lost around 10.5 percent so far this year.
RCom Surges As Insolvency Put On Hold
Shares of the Anil Ambani-led telecom company rose as much as 20 percent to Rs 21.
The tribunal has put Reliance Communications Ltd.’s insolvency proceedings on hold according to the Bloomberg Terminal.
Trading volume was 2.8 times the the 20-day average. The stock is currently trading at 3.6 times the estimated earnings per share for the coming year. It is 51 percent below the Bloomberg consensus one-year target price ans returned a negative of around 46 percent so far this year.
Coal India: Rises On Multiple Brokerage Upgrade
Shares of the Kolkata-based coal maker rose as much as 4.9 percent, most in almost six months, to Rs 303.5, extending a brief two-day gaining streak.
Here are the brokerage upgrades:
- Brokerage firm Citi upgraded the recommendation to Buy from Neutral and also raised the target price to Rs 350 from Rs 320, implying an 18 percent upside.
- CLSA, too, upgraded the recommendation on Coal India to Buy from Outperform. The target price at CLSA was risen to Rs 360 from Rs 335, implying a 25 percent upside.
- Goldman Sachs raised the recommendation to Neutral from Sell and maintained the target price at Rs 293.
Trading volume of the stock was 6.2 times the 20-day average. The stock is around 12 percent below the Bloomberg consensus one-year target price.
It has returned around 12.4 percent so far this year being the best performer on the S&P BSE Energy Index. The energy index lost around 5.8 percent during the same time frame.
Vardhman Textiles: Falls Most In Two Years
Shares of the Ludhiana-based textile company fell as much as 6 percent, most in almost two years, to Rs 1,184.8.
There has been no news around this development in the stock price. Trading volume was 808 times the 20-day average. Around 83 percent of the analyst covering this stock recommend ‘Buy’ while the rest have a ‘hold’ rating.
Shares of Vardhman Textiles Ltd. are at a 19 percent discount to the analyst consensus target price. It has lost around 8.2 percent so far this year as compared to Sensex’s gains of 2.9 percent.
Stocks Reacting To Earnings
Berger Paints (Q4, YoY)
- Shares of Berger Paints India Ltd. fell as much as 4.3 percent to Rs 288.1.
- Revenue up 17 percent at Rs 1,298 crore.
- Net profit flat at Rs 106 crore.
- Ebitda up 24 percent at Rs 199.5 crore.
- Margin at 15.4 percent versus 14.4 percent.
Apollo Hospitals (Q4, YoY)
- Shares of Apollo Hospitals Enterprise Ltd. rose as much as 1.7 percent to Rs 1,004.2.
- Revenue up 15 percent at Rs 1,863 crore.
- Net profit up 25 percent at Rs 60 crore.
- Ebitda up 22 percent at Rs 213 crore.
- Margin at 11.4 percent versus 10.5 percent.
Punj Lloyd (Q4, YoY)
- Shares of Punj Lloyd Ltd. rose as much as 17.6 percent to Rs 19.
- Revenue up 19 percent at Rs 1,060 crore.
- Net profit at Rs 944 crore versus net loss of Rs 182 crore.
- Ebitda loss of Rs 14 crore versus Ebitda loss of Rs 109.5 crore.
Mishra Dhatu (Q4, YoY)
- Shares of Mishra Dhatu Nigam Ltd. rose as much as 5 percent to Rs 143.2.
- Revenue up 14 percent at Rs 311 crore.
- Net profit at Rs 77.5 crore versus Rs 45 crore.
- Ebitda up 62 percent at Rs 116 crore.
- Margin at 37.3 percent versus 26.2 percent.
KNR Construction (Q4, YoY)
- Shares of KNR Construction Ltd. rose as much as 8.3 percent to Rs 315.
- Revenue up 29.5 percent at Rs 624 crore.
- Net profit up 54 percent at Rs 80 crore.
- Ebitda up 68.5 percent at Rs 120.5 crore.
- Margin at 19.3 percent versus 14.8 percent.
Apar Industries (Q4, YoY)
- Shares of Apar Industries Ltd. fell as much as 3.6 percent to Rs 695.5.
- Revenue up 35 percent at Rs 1,767.5 crore.
- Net profit unchanged at Rs 40 crore.
- Ebitda up 45 percent at Rs 126.5 crore.
- Margin at 7.2 percent versus 6.7 percent.
Bharat Dynamics (Q4, YoY)
- Shares of ' rose as much as 6.4 percent to a lifetime high of Rs 428.
- Revenue up 22 percent at Rs 2,021 crore.
- Net profit at Rs 337 crore versus Rs 85 crore.
- Ebitda at Rs 385 crore versus Rs 174 crore.
- Margin at 19 percent versus 10.5 percent.
Torrent Pharmaceuticals (Q4, YoY)
- Shares of Torrent Pharmaceuticals Ltd. rose as much as 2.4 percent to Rs 1,371.4.
- Revenue up 20 percent at Rs 1,722 crore.
- Net profit up 11 percent at Rs 228 crore.
- Ebitda up 23 percent at Rs 364 crore.
- Margin at 21.1 percent versus 20.6 percent.
Housing & Urban Development Corp (Q4, YoY)
- Shares of Housing & Urban Development Corporation Ltd. fell as much as 1.5 percent to Rs 60.4.
- Net Interest Income up 29 percent at Rs 527 crore.
- Net profit down 29 percent at Rs 222.5 crore.
- Provisions at Rs 116 crore versus Rs 16 crore.
CG Power and Industrial (Q4, YoY)
- Shares of CG Power & Industrial Solutions Ltd. fell as much as 6.3 percent to Rs 72.
- Revenue up 18 percent at Rs 1,792 crore.
- Net loss of Rs 582 crore versus net loss of Rs 444 crore.
- Ebitda up 33 percent at Rs 142.5 crore.
- Margin at 8 percent versus 7 percent.
Oil & Natural Gas Corp. (Q4, QoQ)
- Shares of Oil and Natural Gas Corporation Ltd. rose as much as 2.3 percent to Rs 178.
- Revenue up 4 percent at Rs 23,970 crore.
- Net profit up 18 percent at Rs 5,915 crore.
- Ebitda down 23 percent at Rs 8,346.5 crore.
- Margin at 34.8 percent versus 47.3 percent.
V-Guard Industries (Q4, YoY)
- Shares of V-Guard Industries Ltd. fell as much as 6.7 percent to Rs 218.1.
- Net sales up 7.9 percent at Rs 658 crore.
- Net Profit down 29 percent at Rs 27.6 crore.
- Ebitda down 34 percent at Rs 37.4 crore.
- Margin at 5.7 percent versus 9.3 percent.
Infibeam (Q4, QoQ)
- Shares of Infibeam Incorporation Ltd. rose as much as 1.8 percent to Rs 173.6.
- Revenue up 12 percent at Rs 239.5 crore.
- Net profit down 12 percent at Rs 22 crore.
- Ebit down at Rs 19.5 crore versus Rs 30 crore.
- Margin at 8.1 percent versus 14.1 percent.
McLeod Russel (Q4, YoY)
- Shares of McLeod Russel India Ltd. fell as much as 4.2 percent to Rs 147.9.
- Revenue flat at Rs 378 crore.
- Net loss of Rs 142 crore versus net loss of Rs 108 crore.
- Ebitda loss of Rs 268 crore.