Stocks In News: Ashok Leyland, IRCTC, Religare Enterprises, Tasty Bite, Yes Bank
Indian equities declined, after fluctuating between gains and losses in the opening trade.
The S&P BSE Sensex fell 0.35 percent to 41,420.43 and the NSE Nifty 50 fell 0.36 percent to 12,157.35. The broader markets represented by the NSE Nifty 500 Index fell 0.35 percent.
The market breadth was tilted in favour of buyers. About 781 stocks advanced and 670 shares declined on National Stock Exchange.
Six out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Private Bank Index’s 0.55 percent fall. On the flipside, the NSE Nifty PSU Bank was the top sectoral gainer, up 0.9 percent.
Here’s a look at the stocks in news moving the markets today.
Yes Bank Halts Three-Day Losing Streak
Shares of Yes Bank halted their three-day losing streak. The stock rose as much as 5.9 percent to Rs 37.30.
The bank said it has delayed its third-quarter earnings as the private lender is reviewing non-binding expressions of interest from four investors. The bank, which had to declare December quarter results by Feb. 14, will now report earnings on or before March 14.
The Mumbai-based lender has received non-binding EoIs from JC Flowers & Co. LLC, Tilden Park Capital Management, OHA (U.K.) LLP and Silver Point Capital, according to it stock exchange filing.
The stock declined 80 percent in the past 12 months compared to a 15 percent gain in the Sensex.
Religare Enterprises Falls For Second Consecutive Trading Session
Shares of Religare Enterprises extended declines for the second consecutive trading session. The stock fell as much as 2 percent to Rs 44.
The plans to acquire remaining 14.36 percent stake in Religare Finvest from Resurgence PE Investments for Rs 47.05 crore.
Of the shares traded, 53 percent were at the ask price and 43 percent were at the bid, according to Bloomberg data.
Tasty Bite Shares Surge 15% To Record High
Shares of Tasty Bite Eatables extended gains for the fifth consecutive trading session. The stock rose as much as 14.6 percent to hit an all-time high at Rs 11,949.80. The company had announced its quarterly results yesterday.
Tasty Bite Q3 Results 2019-20: Key Highlights (YoY)
- Revenue up 30.1 percent to Rs 114.2 crore.
- Net profit up 2x to Rs 13.7 crore.
- Ebitda up 20.6 percent to Rs 12.9 crore.
- Margin at 11.3 percent versus 12.2 percent.
Stocks Reacting To Q3 Results
IRCTC (Q3, YoY)
- Stock rose as much as 13 percent to hit an all-time high at Rs 1,599.
- Revenue rose 64.6 percent to Rs 716 crore
- Net profit rose 2.8 times to Rs 205.8 crore
- Ebitda rose 2.7 times to Rs 265.7 crore
- Margin stood at 37.1 percent versus 22.7 percent
Ashok Leyland (Q3, YoY)
- Stock fell as much as 4.2 percent to Rs 77.90.
- Revenue fell 36.5 percent to Rs 4,015.7 crore
- Net profit fell 92.7 percent to Rs 27.8 crore
- Ebitda fell 65.3 percent to Rs 225.3 crore
- Margin stood at 5.6 percent versus 10.3 percent
Aarti Industries (Q3, YoY)
- Stock fell as much as 5.9 percent to Rs 926.30.
- Revenue fell 4.5 percent to Rs 1,218.5 crore
- Net profit rose 4.6 percent to Rs 139.8 crore
- Ebitda relatively flat at Rs 254.2 crore versus Rs 253.1 crore
- Margins stood at 20.9 percent versus 19.8 percent
- Speciality chemical segment revenue rose 2 percent to Rs 1,042.3 crore
Dish TV (Q3, YoY)
- Stock fell as much as 4.2 percent to Rs 11.50.
- Revenue fell 42.8 percent to Rs 867.8 crore
- Net loss at Rs 64.5 crore versus Net Profit at Rs 161.7 crore
- Ebitda fell 5 percent to Rs 505.5 crore versus Rs 532 crore
- Margins at 58.3 percent versus 35.1 percent
- Subscription revenue fell 43.5 percent to Rs 798.2 crore
- Margin rose due to lower operating costs
Natco (Q3, YoY)
- Stock fell as much as 7.6 percent to Rs 655.
- Revenue fell 13.4 percent to Rs 482.2 crore
- Net profit fell 34.5 percent to Rs 104.5 crore
- Ebitda fell 38.2 percent to Rs 128.7 crore
- Margin stood at 26.7 percent versus 37.4 percent
Torrent Power (Q3, YoY)
- Stock rose as much as 9.6 percent to Rs 332.80.
- Revenue fell 5.4 percent to Rs 3,079 crore
- Net profit rose 77 percent to Rs 419.4 crore
- Ebitda rose 14.1 percent to Rs 840.4 crore
- Margin stood at 27.3 percent versus 22.6 percent
PI Industries (Q3, YoY)
- Stock swung from a gain of as much as 0.24 percent to fall as much as 0.4 percent.
- Revenue rose 20.1 percent to Rs 849.8 crore versus Rs 707.5 crore
- Net profit rose 12.4 percent to Rs 121.1 crore
- Ebitda rose 25 percent to Rs 186.5 crore
- Margins stood at 22 percent versus 21.1 percent
Sunteck Realty (Q3, YoY)
- Stock rose as much as 2.5 percent to Rs 399.95.
- Revenue down 0.6 percent to Rs 193.91 crore.
- Net profit down 24.7 percent to Rs 33.02 crore.
- Ebitda down 41.2 percent to Rs 50.14 crore.
- Margin at 25.9 percent versus 43.7 percent.
- Pre-sales rose by 5 percent.