Stocks In News: Adani Green Energy, BPCL, D-Mart, Nestle India, Page Industries, Vodafone Idea
Here’s a look at the stocks in news moving the markets today:
Indian equities opened higher, after declining for two consecutive trading sessions.
The S&P BSE Sensex rose 0.4 percent to 41,638 and the NSE Nifty 50 rose 0.42 percent to 12,225. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.
The market breadth was tilted in favour of buyers. About 915 stocks advanced and 525 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Private Bank Index’s 0.49 percent gain.
Here’s a look at the stocks in news moving the markets today:
Vodafone Idea Surges 21% After Q3 Results
Shares of Vodafone Idea Ltd. rose as much as 21.1 percent, the most since Jan. 21, 2020, to Rs 5.45 apiece.
The wireless telecom operator reported greater-than-expected loss in the quarter ended December amid concerns about the telecom operator’s ability to remain in business.
Vodafone Idea Q3 Results: Key Highlights (QoQ)
- Revenue rose 2.3 percent to Rs 11,089.4 crore
- Net loss at Rs 6,438.8 crore versus loss of Rs 50,922 crore
- Ebitda rose 0.7 percent to Rs 3420.5 crore
- Margins stood at 30.8 percent versus 31.3 percent
- ARPU rose 2 percent to Rs 109 versus Rs 107
D-Mart Falls On Promoters’ Stake Sale Plans
Shares of Avenue Supermarts Ltd. fell as much a 4.4 percent, the most since Nov. 26, 2019, to Rs 2,432.
The company’s promoters plan to sell 2.28 percent stake via offer for sale of shares. Promoters to sell up to 1.48 crore shares at a floor price of Rs 2,049 per share for Rs 3,032.52 crore.
Trading volume was 30 times its 20-day average, Bloomberg data showed. The stock traded at 113 times its estimated earnings per share for the coming year.
Adani Green Energy Halts Three-Day Losing Streak
Shares of Adani Green Energy halted its three-day losing streak. The stock rose as much as 4.9 percent to Rs 209.90.
The company entered into a binding agreement with Total, who will invest $510 million for the acquisition of a 50 percent stake in a JV company which will house 2,148 MWAC operating solar projects presently which are 100 percent owned by Adani Green Energy.
The scrip advanced 517 percent in the past 12 months compared to a 15 percent gain in the Sensex.
Stocks Reacting To Results Announcements
BPCL (Q3, QoQ)
- Stock rose as much as 1.9 percent to Rs 477.90.
- Revenue rose 16.2 percent to Rs 74,732.8 crore
- Net profit fell 26.2 percent to Rs 1,260.6 crore
- Ebitda rose 13.8 percent to Rs 2,703.4 crore
- Margin stood at 3.6 percent versus 3.7 percent
Nestle (Q4, YoY)
- Stock rose as much as 2.3 percent to Rs 16,782.
- Revenue rose 8.7 percent to Rs 3,149 crore
- Net profit rose 38.4 percent to Rs 473 crore
- Ebitda rose 23.1 percent to Rs 678 crore
- Margins stood at 21.5 percent versus 19 percent
- Domestic sales rose 10 percent to Rs 2,961 crore
- Exports fell 9.5 percent to Rs 170 crore
- Key brands Maggi, Kitkto and Ceregrow lead growth
- Raw Material costs rose 22 percent to Rs 1,469 crore
Apollo Hospital Enterprises (Q3, YoY)
- Stock rose as much as 2.7 percent to Rs 1,741.55.
- Revenue rose 17 percent to Rs 2,911 crore
- Net profit rose 83 percent to Rs 90 crore
- Ebitda rose 53 percent to Rs 428 crore
- Margin stood at 14.7 percent versus 11.2 percent
- Healthcare services segment revenue rose 12 percent to Rs 1,497.9 crore
- Pharmacy segment revenue rose 22 percent to Rs 1,232.6 crore
- Clinics segment revenue rose 22 percent
- Board approved amalgamation of its arm Apollo Home Healthcare and Western Hospitals into the company
Page Industries (Q3, YoY)
- Stock fell as much as 8.1 percent to Rs 21,609.
- Revenue rose 7.5 percent to Rs 793.8 crore
- Net profit fell 14.6 percent to Rs 87 crore
- Ebitda fell 16 percent to Rs 138.8 crore
- Margin stood at 17.5 percent versus 22.4 percent
Lemon Tree Hotels (Q3, YoY)
- Stock rose as much as 3.4 percent to Rs 56.50.
- Revenue rose 39.2 percent to Rs 199.6 crore
- Net profit fell 2.4 percent to Rs 12.2 crore
- Ebitda rose 65.4 percent to Rs 81.2 crore
- Margins stood at 40.7 percent versus 34.2 percent
All Cargo Logistics (Q3, YoY)
- Stock fell as much as 4.3 percent to Rs 105.10.
- Revenue fell 1 percent to Rs 1,786.8 crore
- Net profit fell 8 percent to Rs 43.9 crore
- Ebitda rose 12 percent to Rs 126.4 crore
- Margin stood at 7.1 percent versus 6.3 percent
- Deferred Tax Reversal of Rs 41.3crore