Stocks In News: Balkrishna Industries, Hero MotoCorp, LIC Housing Finance, Muthoot Finance, Vodafone Idea

Indian equities fluctuated between gains and losses after declines for two consecutive trading sessions.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,273 and 12,113 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.1 percent.

The market breadth was tilted in favour of sellers. About 995 stocks advanced and 649 shares declined on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Bank Index’s 1.7 percent fall. On the flipside, the NSE Nifty FMCG Index was the top sectoral gainer, up 0.3 percent.

Here’s a look at the stocks in news moving the markets today.

LIC Housing Finance Declines For Second Day, Shares Drop 15%

Shares of LIC Housing Finance Ltd. extended declines for the second consecutive trading session. The stock fell as much as 14.8 percent to Rs 351.10 apiece.

“Life Insurance Corporation of India may expedite the process of merging its housing finance arm, LIC Housing Finance, with IDBI Bank, after latter posts two consecutive quarters of operating profit,” Business Standard reported quoting sources with knowledge of the matter.

Of the shares traded, 44 percent were at the ask price and 36 percent were at the bid, Bloomberg data showed.

Vodafone Idea Surges The Most In Nearly A Month

Shares of Vodafone Idea Ltd. rose as much as 23.5 percent, the most since Jan. 21, 2020, to Rs 4.20 apiece.

Telecom operators Bharti Airtel Ltd., Vodafone Idea Ltd. and Tata Teleservices are likely to make payment for adjusted gross revenue dues on Monday to avoid stringent punitive action from the Telecom Department, the Press Trust of India reported quoting official sources.

“The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom of making only partial payment, as per their representatives,” the report added.

Hero MotoCorp Declines For The Third Consecutive Trading Session

Shares of Hero MotoCorp Ltd. extended declines for the third consecutive trading session. The stock fell as much as 3.7 percent to Rs 2,269.55.

The company said that the ongoing issue of coronavirus in China has affected the supply of some components to the company’s manufacturing facilities in India. This is likely to impact planned production by around 10 percent for February. However, the wholesale dispatches of vehicles to the dealers during the month remain unaffected. Any further impact on production will depend on the developing situation in China.

The stock declined 13 percent in the past 12 months compared to a 15 percent gain in the Sensex.

MT Educare Falls On Promoters’ Stake Sale Plans

Shares of MT Educare Ltd. fell as much as 3.5 percent to Rs 15 apiece.

The company’s promoters plan to sell 7.71 percent stake via offer for sale. Promoters plan to sell up to 55.65 lakh shares at a floor price of Rs 14.5 apiece for Rs 8.07 crore.

The floor price is at a discount of 7 percent to the closing price as on Feb. 14. Another five percent discount will be offered to retail investors at the cut off price.

The stock returned 7.7 percent in the past five days and 11 percent in the past 30 days.

Stocks Reacting To Results Announcement

ONGC (Q3, QoQ)

• Stock fell as much as 3.9 percent to Rs 99.30.
• Revenue down 3.2 percent at Rs 23,710.1 crore (Estimate: Rs 24,007 crore)
• Net profit down 33.7 percent at Rs 4,151.6 crore (Estimate: Rs 5,258 crore)
• Ebitda down 7.5 percent at Rs 12,298.4 crore (Estimate: Rs 12,124 crore)
• Margin at 51.9 percent versus 54.3 percent (Estimate: 50.5 percent)
• Net realisations at $58.24/barrel versus $60.3/barrel
• Other Income down 47 percent at Rs 1,402.5 crore

SAIL (Q3, YoY)

• Stock fell as much as 4.7 percent to Rs 41.85.
• Revenue up 4.5 percent at Rs 16,541.3 crore
• Net loss at Rs 429.6 crore versus net profit of Rs 616.3 crore
• Ebitda down 61.3 percent at Rs 997.6 crore
• Margin at 6 percent versus 16.3 percent

Balkrishna Industries (Q3, YoY)

• Stock rose as much as 8.2 percent to Rs 1,251.60.
• Revenue down 3.5 percent at Rs 1,155.8 crore
• Net profit up 48.2 percent at Rs 223.8 crore
• Ebitda up 13.4 percent at Rs 346.2 crore
• Margin at 30 percent versus 25.5 percent

Glenmark Pharmaceuticals (Q3, YoY)

• Stock rose as much as 3.8 percent to Rs 346.45.
• Revenue up 7.1 percent at Rs 2,735.6 crore
• Net profit up 64.1 percent at Rs 190.8 crore
• Ebitda up 1.3 percent at Rs 440.2 crore
• Margin at 16.1 percent versus 17 percent

Embassy Office Parks REIT (Q3, YoY)

• Stock fell as much as 5 percent to Rs 426.
• Revenue from operations up 14 percent at Rs 545.9 crore
• Net operating income up 16 percent at Rs 463.9 crore
• Portfolio occupancy up 220 basis points to 95.1 percent

IRB Infra (Q3, YoY)

• Stock fell as much as 4.2 percent to Rs 96.10.
• Revenue down 2.6 percent at Rs 1,742.6 crore
• Net profit down 27 percent at Rs 159.7 crore
• Ebitda down 6.2 percent at Rs 713.6 crore
• Margin at 41 percent versus 42.5 percent

Muthoot Finance (Q3, YoY)

• Stock rose as much as 7.3 percent to Rs 801.45.
• Net interest income up 43.8 percent at Rs 1702.5 crore
• Net profit up 63.7 percent at Rs 841 crore
• Gross NPA in Gold Loan Business at 1.87 percent

Sun TV Network (Q3, YoY)

• Stock fell as much as 4.9 percent to Rs 472.35.
• Revenue down 9.7 percent at Rs 847.8 crore
• Net profit up 7.2 percent at Rs 384.5 crore
• Ebitda down 12.3 percent at Rs 595.2 crore
• Margin at 70.2 percent versus 72.3 percent

Edelweiss Financial Services (Q3, YoY)

• Stock fell as much as 11.8 percent to Rs 78.10.
• Net interest income down 60.2 percent at Rs 209.6 crore
• Net profit down 92.6 percent at Rs 16.7 crore
• Impairment cost up 93 percent at Rs 220.5 crore

Finolex Cables (Q3, YoY)

• Stock fell as much as 2.7 percent to Rs 370.10.
• Revenue down 6.3 percent at Rs 702.4 crore
• Net profit up 10.1 percent at Rs 102.7 crore
• Ebitda down 8.9 percent at Rs 99.9 crore
• Margin at 14.2 percent versus 14.6 percent