Stocks Radar: Adani Enterprises, Bharti Airtel, Hero MotoCorp, ICICI Bank, Lakshmi Vilas Bank

Indian equities fluctuated between gains and losses in opening trade.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,249 and 12,116, respectively. The broader markets represented by the NSE Nifty 500 Index, too, traded flat.

The market breadth was tilted in favour of buyers. About 838 stocks advanced and 578 shares declined on the National Stock Exchange.

Seven out of 11 sectoral gauges compiled by the NSE traded lower, led by the NSE Nifty Realty Index’s 0.8 percent fall. On the flip side, the NSE Nifty Media Index was the top sectoral gainer, up 0.8 percent.

Here Are The Stocks Moving The Markets Today

Bharti Airtel Swings After Receiving Merger Approval

Shares of Bharti Airtel Ltd. fluctuated between gains and losses to trade 0.5 percent lower at 544.15 apiece.

The Department of Telecommunications approved the merger of the consumer mobile operations of the Tata group with Bharti Airtel. The approval was received after over two years of the announcement.

In October 2017, the Tata group had announced that it would sell its consumer mobile business to Bharti Airtel on a debt-free, cash-free basis, except for it assuming a fraction of the unpaid spectrum fees that the Tata group owes to the DoT.

The Relative Strength Index was above 70, indicating that the stock may be overbought, Bloomberg data showed.

Adani Enterprises Gains After Unit Signs Pact With Airbus

Shares of Adani Enterprises Ltd. extended gains for the fourth consecutive trading session. The stock rose as much as 0.4 percent to Rs 237.50.

The company’s arm signed a memorandum of understanding with Airbus to explore opportunities for collaboration in the area of aircraft services for the Indian and South Asian markets.

The scrip advanced 7.2 percent in four trading sessions. Adani Enterprises has returned 13.5 percent so far this year and 91.3 percent in the past 12 months, Bloomberg data showed.

Lakshmi Vilas Bank Jumps The Most In Over Seven Months

Shares of Lakshmi Vilas Bank Ltd. extended gains for the second consecutive trading session. The stock rose as much as 9.7 percent, the most since June 24, 2019, to Rs 16.40.

“The top executives of the lender submitted a list of potential investors to the Reserve Bank of India on Wednesday. The list included Singapore-based DBS Bank and Capri Global,” Business Standard reported.

Trading volume was more than 80 times its 20-day average, Bloomberg data showed. The scrip gained 10 percent in the past five days and 1.9 percent in the past 30 days.

ICICI Bank Falls After Large Trade

Shares of ICICI Bank Ltd. fell as much as 1 percent to Rs 536.10.

About 40.5 lakh shares of the lender changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

The stock traded at 30 times its estimated earnings per share for the coming year, according to Bloomberg data.

Stocks Reacting To Results Announcement

Hero MotoCorp (Q3, YoY)

• Stock rose as much as 3.5 percent to Rs 2,496.
• Revenue fell 11 percent to Rs 6,996.73 crore.
• Net profit rose 14.5 percent to Rs 880.41 crore.
• Ebitda fell 6 percent to Rs 1,038.97 crore.
• Margin stood at 14.8 percent versus 14 percent.

Metropolis Healthcare (Q3, YoY)

• Stock rose as much as 5.6 percent to Rs 1,675.
• Revenue rose 17.1 percent to Rs 222.9 crore.
• Net profit rose 34.9 percent to Rs 42.1 crore.
• Ebitda rose 29.5 percent to Rs 63.7 crore.
• Margin stood at 28.6 percent versus 25.8 percent.

NMDC (Q3, YoY)

• Stock fell as much as 4.6 percent to Rs 111.
• Revenue fell 17.6 percent to Rs 3,006.4 crore.
• Net profit fell 12.7 percent to Rs 1,376.4 crore.
• Ebitda fell 26.1 percent to Rs 1,591.5 crore.
• Margin stood at 52.9 percent versus 59 percent.

Aurobindo Pharma (Q3, YoY)

• Stock rose as much as 4.4 percent to Rs 532.70.
• Revenue rose 11.9 percent to Rs 5,895 crore.
• Net profit fell 1 percent to Rs 705.5 crore.
• Ebitda rose 11.2 percent to Rs 1,208 crore.
• Margin stood at 20.5 percent versus 20.6 percent.
• U.S. formulations revenue rose 22 percent to Rs 2,969.4 crore.
• Europe formulations revenue rose 14.2 percent to Rs 1,476.3 crore.
• API segment revenue fell 14 percent to Rs 789.8 crore.

Indraprastha Gas (Q3, YoY)

• Stock rose as much as 2.3 percent to Rs 534.20.
• Revenue rose 10.2 percent to Rs 1,664.2 crore.
• Net profit rose 43.4 percent to Rs 283.9 crore.
• Ebitda rose 22.6 percent to Rs 391.8 crore.
• Margin stood at 23.5 percent versus 21.2 percent.
• Raw material cost as percent of sales at 51.2 percent.
• CNG sales volume rose 9 percent.
• PNG sales volume rose 18 percent.

Dalmia Bharat (Q3, YoY)

• Stock fell as much as 1.2 percent to Rs 881.85.
• Revenue rose 11.7 percent to Rs 2,418 crore.
• Net profit fell 14.3 percent to Rs 24 crore.
• Ebitda rose 11.6 percent to Rs 444 crore.
• Margin stood at 18.4 percent versus 18.4 percent.
• Profit dragged due to higher other expenses and freight charges.

Johnson Controls - Hitachi Air Conditioning (Q4, YoY)

• Stock rose as much as 6.7 percent to Rs 2,620.
• Revenue flat at Rs 436 crore
• Net profit at Rs 13.4 crore
• Ebitda stood at Rs 32.4 crore
• Operating numbers impacted due to a reduction in raw material costs

GSK Consumer Healthcare (Q3, YoY)

• Stock rose as much as 1.3 percent to Rs 9,340.80.
• Revenue rose 3.8 percent to Rs 1,158.9 crore.
• Net profit rose 25.1 percent at Rs 276.6 crore.
• Ebitda rose 14.1 percent to Rs 272.2 crore.
• Margin stood at 23.5 percent versus 21.4 percent.

Trent (Q3, YoY)

• Stock rose as much as 7.4 percent to Rs 637.
• Revenue rose 45.3 percent to Rs 988.3 crore.
• Net profit rose 21.7 percent to Rs 53.9 crore.
• Ebitda rose 2.4 times to Rs 167.7 crore.
• Margin stood at 17 percent versus 10.4 percent.

Bata India (Q3, YoY)

• Stock rose as much as 2.2 percent to Rs 1,895.45.
• Revenue rose 6.5 percent to Rs 830.8 crore.
• Net profit rose 14.9 percent to Rs 118.3 crore.
• Ebitda rose 61.2 percent to Rs 263.8.
• Margin stood at 31.8 percent versus 21 percent.
• Cost of raw material as a percent of sales at 39.3 percent versus 41.5 percent.

MphasiS (Q3, QoQ)

• Stock rose as much as 1.5 percent to Rs 956.95.
• Revenue rose 5.5 percent to Rs 2,276.7 crore.
• Net profit rose 7.5 percent to Rs 293.9 crore.
• EBIT rose 6.4 percent to Rs 369.3 crore.
• Margin stood at 16.2 percent versus 16.1 percent.

United Breweries (Q3, YoY)

• Stock fell as much as 3.3 percent to Rs 1,298.50.
• Revenue stood unchanged at Rs 1,454.9 crore.
• Net profit fell 2.4 percent to Rs 106.7 crore.
• Ebitda fell 10.7 percent to Rs 221.6 crore.
• Margin stood at 15.2 percent versus 17.1 percent.
• Raw material cost as a percent of sales at 47.1 percent.