Stocks In News: Airtel, Aurobindo Pharma, DHFL, SpiceJet, Vodafone Idea
Here’s a look at the stocks in news moving the markets today.
Indian equity benchmarks traded subdued in the first couple of hours of trading today.
At 10:55 am, the S&P BSE Sensex was 0.19 percent higher at 40,190.68 points while the NSE Nifty 50 was 0.07 percent up at 11,848.80. Yes Bank Ltd. was the top gainer o the Nifty 50 index while Bharti Infratel Ltd. was the top loser.
The market breadth was tilted in favour of sellers.
About 968 stocks declined and 692 shares advanced on the National Stock Exchange. Six out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Media Index’s 1.1 percent gain. On the flipside, the NSE Nifty Metal Index was the top sectoral loser, down 1.09 percent.
Here’s a look at the stocks in news moving the markets today:
Aurobindo Pharma Falls To Lowest In Five Years On U.S. FDA Woes
Shares of Aurobindo Pharma Ltd. fell as much as 9.53 percent to Rs 341.50 apiece, the lowest since Sept. 24, 2014.
The Hyderabad-based drugmaker said it received 14 observations from the U.S. Food and Drug Administration for its manufacturing facility in the city—a move that may disrupt supplies and delay future approvals.
The U.S. FDA issued a Form 483, a kind of inspection report, to the company’s unit IV, a general injectable formulation manufacturing facility, at Pashamylaram, Hyderabad, after an inspection conducted from Nov. 4-13, according to an exchange filing.
Trading volume for the Aurobindo Pharma stock was more than eight times the 20-day average for this time of the day.
Bharti Airtel Slumps Ahead Of Q2 Results Today
Shares of Bharti Airtel Ltd. fell as much as 3.83 percent, the most since Oct. 29, to Rs 354.50 apiece, ahead of its September quarter results due later today.
The stock is also seen reacting to an The Economic Times report that said Aditya Birla Group will not infuse any fresh equity into Vodafone Idea Ltd. and let it opt for insolvency if the government does not provide substantial relief, including on the telco's adjusted gross revenue-based dues, which could be over 39,000 crore.
Airtel shares are down 4.1 percent in the past five days and fell 9.5 percent in the past 30 days. Over the 52-week period, the stock has advanced 35 percent.
Bata India Rises To Seven-Week High After Q2 Results
Shares of Bata India Ltd. rose as much as 5.37 percent, the most since Sept. 23, 2019, to Rs 1,775.25 apiece, a day after declaring its September quarter results.
The shoemaker’s net profit rose 29.90 percent year-on-year to Rs 71.30 crore in the second quarter on the back of revenue that rose 7.3 percent to Rs 722 crore.
Bata India Q2 Results 2019-20: Key Highlights
- Revenue rose 7.3 percent to Rs 722 crore
- Net profit rose 29.9 percent to Rs 71.3 crore
- Ebitda rose 2.1 times to Rs 185.4 crore
- Margin was at 25.7 percent versus 12.9 percent
Trading volume in the Bata India stock was more than nine times the 20-day average for this time of the day, Bloomberg data shows.
DHFL Slumps After Court Paves Way For Lenders To Recover Dues
Shares of Dewan Housing Finance Corporation Ltd. fell as much as 4.87 percent, the most since Nov. 4, to Rs 24.40 apiece.
The Bombay High Court has allowed a plea by a group of lenders, led by the State Bank of India, paving the way for them to recover dues from DHFL.
A single-judge bench presided over by Justice AK Menon granted ad-interim relief to the banks and financial institutions by directing DHFL to make payments for present as well as future dues as per securitisation or assignment agreements executed by it.
DHFL shares are up 17 percent in the past five days and rose 11 percent in the past 30 days, Bloomberg data shows. The stock has declined 89 percent in the past 52 weeks.
Muthoot Finance Surges To Record-High After Q2 Results
Shares of Muthoot Finance Ltd. rose as much as 9.48 percent to Rs711.75—the highest since listing, a day after declaring its September quarter results.
The gold loans provider’s net profit rose 76.70 percent year-on-year to Rs 899.80 crore in the second quarter on the back of revenue that rose 35.10 percent to Rs 1,631.50 crore.
Trading volume in the Muthoot Finance stock was more than 14 times the 20-day average for this time of the day, Bloomberg data shows.
SpiceJet Slumps After Lacklustre Q2 Results
Shares of SpiceJet Ltd. fell as much as 7.33 percent, the most since Oct. 25, 2019, to Rs 105.50 apiece, a day after declaring its September quarter results.
The budget airline’s net loss rose 19.02 percent year-on-year to Rs 463 crore in the second quarter of 2019-20, on the back of revenue that surged 52 percent to Rs 2,845 crore, according to an exchange filing.
SpiceJet Q2 Results 2019-20: Key Highlights (Year-on-Year)
- Revenue rose 52 percent to Rs 2,845 crore
- Net loss at Rs 463 crore versus net loss at Rs 389 crore
- Ebitda loss at Rs 54 crore versus Ebitda loss at Rs 44 crore
- Yields rose 1.1 percent to Rs 3.54
- Other Income rose 8.4 times to Rs 228 crore
The trading volume in the SpiceJet stock was almost five times the 20-day average for this time of the day, Bloomberg data shows.
Vodafone Idea Hits Record Low After Report On Government Dues
Shares of Vodafone Idea Ltd. fell 22.87 percent to Rs 2.85 apiece, the lowest since Idea Cellular’s listing on Mar. 9, 2007.
This, after The Economic Times report that said Aditya Birla Group will not infuse any fresh equity into Vodafone Idea and let it opt for insolvency if the government does not provide substantial relief, including on the telco's adjusted gross revenue-based dues, which could be over 39,000 crore.
The telecom firm is also slated to declare its September quarter results today.
Vodafone Idea shares are down 18 percent in the past five days and fell 51 percent in the past 30 days, Bloomberg data shows. The stock has declined 87 percent in the past 52 weeks.
VST Industries At Record High After Radhakishan Damani Buys Shares
Shares of VST Industries Ltd. surged as much as 8.20 percent to Rs 4,622.10 apiece—the highest since listing on Jul. 3, 1997.
Radhakishan Damani, the founder of Avenue Supermarts Ltd. that operates the D-Mart chain of supermarkets, bought 2,70,000 shares of the cigarette maker at Rs 4,259.99 apiece in a large trade, exchange data showed. On the other hand, HDFC Mutual Fund offloaded 2,73,706 shares in the same company at Rs 4,260 per share.
Trading volume in the VST Industries stock was more than seven times the 20-day average for this time of the day, Bloomberg data shows.