Stocks Radar: ACC, Divi’s Labs, Reliance Industries, UltraTech
Indian shares opened higher on Monday ahead of April series expiry amid a resurgence in the risk-on trade in Asian equities following the outcome of the first round of the French Presidential elections.
Here are the stocks that are moving the markets:
ACC: Profit Falls But Beats Estimates
Shares of the cement maker gained as much as 4.2 percent after it beat street estimates despite its net profit falling for the third quarter in a row.
Net profit fell to Rs 211.50 crore from Rs 234.62 crore in the year ago period, the company said in an exchange filing.
Cement sales volumes stood at 6.6 million tonne versus 6.36 million tonne in the corresponding quarter last year, a growth of 4 percent. The waning impact of demonetisation and expanded capacities at Jamul and Sindri were the key factors for the growth in volumes.
Tinplate Company of India: Strong Earnings
Shares surged as much as 7.06 percent to Rs 94.80 on the Bombay Stock Exchange. The company reported a 75 percent jump in its net profit to Rs 11.02 crore from Rs 6.31 crore in the year ago period during the January-March quarter
Revenue to saw an increase of 61.72 percent to Rs 270.89 crore from Rs 167.5 crore in the corresponding quarter last year.
Divi's laboratories: Regulatory Woes Mount
Shares of the company fell as much as 3.94 percent after the drug maker said that the U.S. FDA issued a warning letter for its Unit-II at Visakhapatnam.
The company in a statement has said that the regulatory body has exempted certain products from the import alert, supply of which will continue from the plant.
Divi’s Labs along with external consultants and subject matter experts are working to address the concerns of the U.S. FDA and is making all efforts to fully meet the compliance requirements. We will respond to this warning letter with a detailed plan within the stipulated time.Divi’s Laboratories’ Exchange Filing
Units of the company's Infrastructure Investment Fund (InvITs) filled offer documents for their Initial Public Offering. The IPO consists of fresh issue of units, aggregating to Rs 4,300 crore.
Shares of the company gained as much as 3.1 percent to Rs 254.40 on the Bombay Stock Exchange.
Earnings To Watch
- Reliance Industries: Shares gained as much as 1.32 percent to Rs 1,420.95 ahead of its Q4 earnings.
- Ultratech Cement: Shares recovered from opening lows to gain as much as 1.52 percent to Rs 4,039.
- Hexaware Technologies: Shares fell as much as 2.71 percent to Rs 210 ahead of its first quarter numbers for the calendar year 2017.
- Indiabulls Housing Finance: Shares of the newest entrant in the NSE Nifty-50 index gained as much as 2.23 percent to Rs 1,011.95 ahead of its fourth quarter numbers.