Stocks Radar: Bandhan Bank, Berger Paints, GM Breweries, Welspun Enterprises
Indian equity benchmarks resumed gains after one-day blip. The S&P BSE Sensex gaining as much as 0.6 percent to 35,784.47 and the NSE Nifty 50 Index rising as much as 0.6 percent to 10,810.55.
The market breadth was tilted in favour of buyers. Ten out of 11 sectoral gauges compiled by NSE advanced, led by NSE Nifty Realty Index's 1.8 percent gains. On the flipside, NSE Nifty Media Index was the only sectoral loser, down 0.9 percent.
Here Are The Stocks Moving The Market This Morning
Bandhan Bank Gains After Receiving RBI Nod
Shares of the private lender snapped their two-day decline today and rose as much as 1.2 percent to Rs 546.30 apiece.
The bank in an exchange filing said it has received an approval from the Reserve Bank of India for reappointment of Managing Director and Chief Executive Officer Chandra Shekhar Ghosh till July 2021.
Bandhan Bank trades at 47.9 times trailing 12-month earnings per share, Bloomberg data showed. The stock has gained 45.3 percent since its listing on March 26.
Apollo Hospital Enterprise Gains After Stake Buy
Shares of the hospital chain operator rose as much as 1.6 percent today to Rs 1,064.75 apiece.
The company acquired a 50 percent stake in Medics International Lifesciences for Rs 91 crore, according to its exchange filing.
The stock declined 15.3 percent over the past year compared to a 14.8 percent advance in the Sensex.
Welspun Enterprises Gains After Order Win
Shares of the infrastructure company gained as much as 3.8 percent today to Rs 162.50 a share.
The company has won a contract from the National Highways Authority of India for the four-laning of Sattanathapuram to Nagapattinam section of NH-45A in Tamil Nadu, according to its exchange filing. It will develop the project at a bid cost of Rs 2,004.51 crore and first-year operation and maintenance cost of Rs 5 crore.
The trading volume was 4.3 times its 30-day average, Bloomberg data showed.
Berger Paints Swings After Stake Acquisition
Shares of the paintmaker hovered between gains and losses to trade at Rs 296.50 apiece as of 9:40 a.m.
The company acquired a 51 percent stake in a Japanese paints company to sell automotive refinish paints in India and Nepal, according to an exchange notification.
The trading volume was 11.7 its 20-day average, according to Bloomberg data.
Stock Reacting To Earnings
GM Breweries (First Quarter, Year-On-Year)
- Stock fell as much as 6.4 percent to Rs 830.20.
- Revenue was up 16.8 percent at Rs 110.4 crore.
- Net profit rose 117.6 percent at Rs 22.2 crore.
- Ebitda was up 118.6 percent at Rs 33.93 crore.
- Margin stood at 30.7 percent versus 16.4 percent.
- Other income stood at Rs 1 crore compared with Rs 1.4 crore.