Stocks Radar: Adani Green Energy; HDFC Bank, Infosys, RIL, UltraTech Cement
Here are the stocks moving the market this morning.
Indian equity indices opened lower on Tuesday and thereafter, fluctuated between gains and losses.
The Sensex fell as much as 0.34 percent to 39,161 and the NSE Nifty 50 Index dropped nearly 0.15 percent to 11,644, as of 10:30 a.m. The broader market represented by the NSE Nifty 500 Index rose as much as 0.1 percent.
Still, the market breadth was tilted in favour of buyers as 1,004 stocks advanced and 667 declined on the National Stock Exchange.
Ten of the 11 sectoral gauges, too, gained, led by the NSE Nifty Media Index’s 1.2 percent rise. The NSE Nifty IT Index was the only loser, down 3.4 percent.
Here Are The Stocks Moving The Markets Today
Infosys Tumbles 16% After Whistleblower Complaints
Shares of India’s second-largest software services provider plunged as much as 16 percent—the most since April 2013—to Rs 645 apiece after an anonymous whistleblower letter alleged that Chief Executive Officer Salil Parekh dressed up the company’s books
Chairman and Co-founder Nandan Nilekani pledged a full investigation, saying the alegations had gone before the company’s Audit Committee. The undated complaint largely deals with allegations relating to the CEO’s international travel to the U.S. and Mumbai, he said in a statement to the exchanges today.
Click here for analysts made of the latest turmoil to hit Infosys.
RIL Hits Fresh Record High After Crossing Rs 9-Crore MCap
Shares of Reliance Industries Ltd. extended gains for the sixth straight session. The stock rose as much as 1.5 percent to Rs 1,436 apiece after the company announced its results for the quarter ended September. It also became the first Indian company to cross the Rs 9-lakh-crore market cap.
Key Earnings Highlights:
Reliance Industries (Q2, QoQ)
- Revenue down 1.3 percent to Rs 87,137 crore.
- Net profit up 7.4 percent to Rs 9,702 crore.
- Ebitda up 0.2 percent to Rs 13,666 crore.
- Margin stood at 15.7 percent against 15.5 percent.
- Gross refining margin up 16 percent to $9.4 a barrel versus $8.1 per barrel.
Reliance Jio (Q2, QoQ)
- Revenue up 5.8 percent to Rs 12,354 crore.
- Net profit up 11.1 percent to Rs 990 crore.
- Ebitda rose 10 percent to Rs 5,139 crore.
- Margin at 41.6 percent versus 40 percent.
- Average revenue per user down 2 percent to Rs 120 versus Rs 122.
Read these to get up-to-speed on RIL:
- RIL’s profit rises most in 15 quarters as refining margin rebound
- Consumer units replace refining as RIL’s second-biggest business
- Reliance Jio unveils new plans with bundled in IUC.
- What helped Reliance Retail defy consumption slowdown.
HDFC Bank Gains As Q2 Profit Meets Estimates
Shares of HDFC Bank Ltd. extended gains for the second trading session in a row. The stock rose as much as 2.3 percent to Rs 1,257 apiece after the private lender’s quarterly profit met estimates.
Net profit of India’s most valuable bank rose 26.8 percent year-on-year to Rs 6,345 crore in the quarter ended September, it said in an exchange filing. That compares with the Rs 6,198-crore consensus estimate of analyst tracked by Bloomberg.
The bank’s asset quality also remained stable. Gross non-performing assets ratio stood at 1.38 percent compared with 1.4 percent in the previous quarter. Net NPA stood at 0.42 percent against 0.43 percent earlier.
Adani Green Energy Halts 11-Day Rally
Shares of Adani Green Energy snapped their record 11-day gaining streak. The stock fell as much as 5.1 percent to Rs 85 a share.
Adani Green Energy, through its subsidiaries, is implementing 725-megawatt wind projects in Kutch, Gujarat, according to an exchange filing. The company has commissioned 50-megawatt wind generation capacity, having a power purchasing agreement with SECI for 25 years, the filing said. It has also planned another 225-MW wind energy capacity in Bhuj by the second half of 2020.
The Relative Strength Index was at 78, indicating that the stock may be overbought, according to Bloomberg data. The stock has gained 104 percent so far this year and has rallied 139 percent in the past 12 months.
Stocks Reacting To Results Announcement
Bharti Infratel (Q2, QoQ)
- Stock fell as much as 1.7 percent to Rs 257.10.
- Revenue down 2 percent to Rs 3,637.6 crore (estimate Rs 3,680 crore)
- Net profit up 8.6 percent to Rs 963.5 crore (estimate Rs 753 crore)
- Ebitda down 0.9 percent to Rs 1,878.3 crore (estimate Rs 1,761 crore)
- Margin at 51.6 percent versus 51 percent (estimate 48 percent)
AU Small Finance Bank (Q2, YoY)
- Stock rose as much as 3.9 percent to Rs 680.
- Net interest income up 40.6 percent to Rs 451.6 crore.
- Net profit up 88.1 percent to Rs 171.9 crore
- Provisions to Rs 61 crore versus Rs 35 crore (Rs 31.5 crore QoQ)
- GNPA to 2.01 percent versus 2.08 percent QoQ
- NNPA to 1.14 percent versus 1.25 percent QoQ
UltraTech Cement (Q2, YoY)
- Stock rose as much as 2.7 percent to Rs 4,409.
- Revenue up 4.3 percent to Rs 9,253.8 crore (estimate Rs 8750.5 crore)
- Net profit up 72.3 percent to Rs 639.2 crore (estimate Rs 805.1 crore)
- Ebitda up 29.2 percent to Rs 1,812.6 crore (estimate Rs 1887 crore)
- Margin at 19.6 percent versus 15.8 percent (estimate 21.6 percent)
- Domestic volumes down 1 percent to 17.2 million tonne (Estimates compiled by BloombergQuint peg the figure at 16.6 million tonnes)
Piramal Enterprises (Q2, YoY)
- Stock rose as much as 7.9 percent to Rs 1,680.
- Revenue up 14.6 percent to Rs 3,603.6 crore.
- Net profit up 15.3 percent to Rs 554.7 crore.
- Ebitda up 36.3 percent to Rs 2,253.9 crore.
- Margin at 62.5 percent versus 52.6 percent.
- Pharma segment revenue up 17 percent to Rs 1,316.4 crore.
- Financial services revenue up 13 percent to Rs 1,954 crore.
- Healthcare insights & analytics revenue up 14 percent to Rs 333.2 crore.
- Other expenses down 46 percent to Rs 325.5 crore.
Ujjivan Financial Services (Q2, YoY)
- Stock rose as much as 1.9 percent to Rs 312.75.
- Net interest income up 44.7 percent to Rs 407 crore.
- Net profit up 2.2 times to Rs 63.2 crore.
- Numbers not comparable, as details of Ujjivan Small Finance Bank also included in the current quarter.
Tata Elxsi (Q2, QoQ)
- Stock fell as much as 4.7 percent to Rs 675.20.
- Revenue up 6.7 percent to Rs 385.8 crore.
- Net profit up 2 percent to Rs 49.8 crore.
- EBIT flat to Rs 58 crore versus Rs 58.1 crore.
- Margin at 15 percent versus 16.1 percent.
Avanti Feeds (Q2, YoY)
- Stock rose as much as 15.6 percent to Rs 471.
- Revenue rose 41 percent to Rs 1,064 crore.
- Net profit rose 156 percent to Rs 119 crore.
- Ebitda rose 79 percent to Rs 129 crore.
- Ebitda margin stood at 12.1 percent versus 9.6 percent.
Dalmia Bharat (Q2, YoY)
- Stock rose as much as 2.6 percent to Rs 838.05.
- Revenue rose 6.5 percent to Rs 2236 crore.
- Net profit at Rs 27 crore versus net loss of Rs 1 crore.
- Ebitda rose 35 percent to Rs 471 crore.
- Ebitda margin stood at 21 percent versus 16.6 percent.
BEPL (Q2, YoY)
- Stock rose as much as 5.6 percent to Rs 53.05.
- Revenue fell 20 percent to Rs 280 crore.
- Net profit rose 18 percent to Rs 20 crore.
- Ebitda fell 28 percent to Rs 20 crore.
- Ebitda margin stood at 7.1 percent versus 7.9 percent.
Oberoi Realty (Q2, YoY)
- Stock fell as much as 7 percent to Rs 502.25.
- Revenue dropped 17 percent to Rs 491 crore
- Net profit down 35 percent to Rs 138 crore.
- Ebitda fell 28 percent to Rs 213 crore.
- Ebitda margin stood at 43 percent versus 50 percent.
- Finance cost rose 4.2 times to Rs 25 crore.
Ambuja Cements (Q3. YoY)
- Stock fell as much as 7.3 percent to Rs 192.50.
- Revenue up 0.5 percent to Rs 2,626.1 crore.
- Net profit up 31.4 percent to Rs 234.6 crore.
- Ebitda up 22.8 percent to Rs 439.9 crore.
- Margin at 16.8 percent versus 13.7 percent.
- Volume at 5.23 MT vs 5.46 MT
L&T Technology Services (Q2, YoY)
- Stock fell as much as 19.4 percent to Rs 1,321.
- Dollar revenue up 12 percent to $198 million.
- Revenue up 10.7 percent to Rs 1402.1 crore.
- Net profit up 7.7 percent to Rs 205.8 crore.
- Ebitda up 23.8 percent to Rs 283.2 crore.
- Margins at 20.2 percent versus 18.1 percent.
- Declared dividend of Rs 7.5 per share
L&T Finance Holdings (Q2, YoY)
- Stock fell as much as 2.1 percent to Rs 83.60.
- Net interest income up 19.1 percent to Rs 1,396.4 crore.
- Net profit down 68.9 percent to Rs 174.2 crore.
- One-time charge of Rs 473.4 crore in current quarter as impact of change in the rate on opening of deferred tax.
- Company will use the option to pay tax of 22 percent, as per the recent changes.
ICICI Lombard General Insurance (Q2 ,YoY)
- Stock rose as much as 2.9 percent to Rs 1,281.
- Gross direct premium down 16.4 percent to Rs 2,953 crore.
- Net profit up 5 percent to Rs 308 crore.
- Combined ratio at 102.6 percent versus 101.1 percent.
- Solvency ratio at 2.26 times versus 2.2 times.
- Net premium from motor segment increased by 25 percent to Rs 1520 crore.
Kirloskar Ferrous Industries (Q2, YoY)
- Stock fell as much as 1.2 percent to Rs 60.
- Revenue down 14.1 percent to Rs 464.2 crore.
- Net profit down 51.3 percent to Rs 13.2 crore.
- Ebitda down 28.5 percent to Rs 41.8 crore.
- Margin at 9 percent versus 10.8 percent.
Sasken Technologies (Q2, QoQ)
- Stock fell as much as 10.9 percent to Rs 536.95.
- Revenue down 6.7 percent to Rs 125.7 crore.
- Net profit down 2.2 percent to Rs 22.7 crore.
- Ebitda down 35 percent to Rs 14.3 crore.
- Margin at 11.4 percent versus 16.3 percent.
- Other income up 25 percent to Rs 14.4 crore.
Mahindra Lifespace (Q2, YoY)
- Stock fell as much as 2.5 percent to Rs 417.20.
- Revenue up four times to Rs 324.5 crore.
- Ebitda profit of Rs 14 crore vs Ebitda loss of Rs 2 crore
- Margin at 4.4 percent
- Net profit down 63 percent to Rs 15 crore.
- Base quarter had higher share of profits from JV and associates and higher other income.
- Other income down 61 percent to Rs 5.4 crore vs Rs 13.7 crore.
- Profit from JV and associates down 99 percent to Rs 0.4 crore.
IIFL Wealth Management (Q2, YoY)
- Stock fell as much as 6 percent to Rs 1,130.
- Revenue down 13 percent to Rs 369 crore.
- Net profit down 32 percent to Rs 68.4 crore.
- Calculated NII down 17 percent to Rs 50 crore.
- Net fees and commission down 28 percent to Rs 157 crore.
HFCL (Q2, YoY)
- Stock fell as much as 2.1 percent to Rs 18.35.
- Revenue down 19 percent to Rs 980 crore.
- Ebitda up 47.5 percent to Rs 138 crore.
- Margin at 14.1 percent versus 7.7 percent.
- Net profit up 49 percent to Rs 65 crore.
- Lower cost of material aided numbers.
Just Dial (Q2 YoY)
- Stock fell as much as 2.1 percent to Rs 621.05.
- Revenue up 10 percent to Rs 242.6 crore.
- Ebitda up 17 percent to Rs 67.3 crore.
- Margin at 27.7 percent versus 26 percent.
- Net profit up 59 percent to Rs 77 crore.
- Higher other income and lower costs aided financials.
- Other income up 2.4 times to Rs 44 crore.