Stocks Radar: Affle India, GSK Pharma, Manappuram Finance, Shriram Transport, TCS
Indian equities advanced for the second consecutive trading session, led by the gains in Reliance Industries Ltd. and HDFC Bank Ltd.
The S&P BSE Sensex rose as much as 1.16 percent to 40,336.22 and the NSE Nifty 50 rose as much as 1.13 percent to 11,840.35. The broader markets represented by the NSE Nifty 500 Index rose as much as 1.1 percent.
The market breadth was tilted in favour of buyers. About 1,081 stocks advanced and 350 shares declined on the National Stock Exchange.
10 out of 11 sectoral gauges compiled by NSE traded higher led by the NSE Nifty IT Index’s 0.95 percent gain. On the flip side, the NSE Nifty Realty Index was the top sectoral loser, down 0.1 percent.
Here Are The Stocks Moving The Market Today
Manappuram Finance Falls Over 5% After Large Trades
Shares of Manappuram Finance Ltd. fell as much as 5.4 percent, the most in over four months, to Rs 174.10.
About 3.77 crore shares or 4.5 percent equity of the company changed hands in five large trades, Bloomberg data showed.
While buyers and sellers were not known immediately, Baring India Private Equity Fund II had planned to offer 4.2 crore shares (5 percent) of the company in an accelerated book-building with a floor price of Rs 172 per share, which is at a discount of 6.57 percent to the last closing prices.
Baring Fund held 8.76 percent stake in the company prior to the stake sale plans, according to Bloomberg report.
TCS Gains After Signing Pact
Shares of Tata Consultancy Services Ltd. rose as much as 1.6 percent to Rs 2,136.70.
The country’s largest software developer has expanded partnership with Walgreens Boots Alliance for digital solutions. The 10-year deal is valued at $1.5 billion. Walgreens Boots Alliance owns pharma manufacturing, wholesale and distribution companies.
The stock traded at 24 times its estimated earnings per share for the coming year, according to Bloomberg data.
Bajaj Auto Falls After January Sales Decline 3%
Shares of Bajaj Auto Ltd. fell as much as 1.2 percent to Rs 3,245.
That came after the two-wheeler maker sold a total of 3,94,473 units last month, a fall of 3 percent on a yearly basis, according to its stock exchange filing.
Key Highlights (YoY):
- Domestic sale of motorcycles fell 22 percent to 1,57,796 units.
- Export of motorcycles rose 19 percent to 1,74,546 units.
- Domestic sale of commercial vehicles rose 25 percent to 35,076 units.
- Export of commercial vehicles fell 5 percent to 27,055 units.
- Total domestic sales fell 17 percent to 1,92,872 units.
- Total exports rose 15 percent to 2,01,601 units.
Stocks Reacting To Results Announcement
Deepak Nitrite (Q3, YoY)
- Stock rose as much as 3.3 percent to Rs 423.
- Revenue rose 46.1 percent to Rs 1,119.9 crore.
- Net profit rose 3.9 times to Rs 156.7 crore.
- Ebitda rose 2.4 times to Rs 258.3 crore.
- Margin stood at 23.1 percent versus 14 percent.
- Raw material cost as percentage of sales at 58 percent.
- Phenolic segment revenue rose 70 percent to Rs 535.1 crore.
- Basic chemical segment revenue rose 15 percent to Rs 252.7 crore.
- Fine & Speciality chemical segment revenue rose 17 percent to Rs 173.2 crore.
GlaxoSmithKline Pharmaceuticals (Q3, YoY)
- Stock fell as much as 13.4 percent to Rs 1,522.
- Revenue fell 5.7 percent to Rs 778.6 crore.
- Net loss stood at Rs 661.2 crore versus net profit at Rs 113.7 crore.
- Ebitda fell 9.3 percent to Rs 124.4 crore.
- Margin stood at 16 percent versus 16.6 percent.
Shriram Transport Finance (Q3, YoY)
- Stock rose as much as 12.9 percent to Rs 1,114.95.
- Net profit rose 38.1 percent to Rs 882.2 crore.
- Net interest income fell 1 percent to Rs 2,014.4 crore.
- Impairment cost fell 30 percent to Rs 444.4 crore.
- Assets under management rose 4.93 percent to Rs 108,931.4 crore.
Affle (India) (Q3, YoY)
- Stock rose as much as 4.6 percent to Rs 1,835.
- Revenue rose 27.4 percent to Rs 94.5 crore.
- Net profit rose 31.9 percent to Rs 21.5 crore.
- EBIT rose 18.1 percent to Rs 24.1 crore.
- Margin rose 25.5 percent to 27.5 percent.
- India segment revenue rose 53 percent to Rs 53 crore.
- International segment revenue rose 4 percent to Rs 43.3 crore.
AstraZeneca Pharma (Q3, YoY)
- Stock fell as much as 2.4 percent to Rs 2,550.
- Revenue rose 4 percent to Rs 223.9 crore.
- Net profit fell 8.2 percent to Rs 26.7 crore.
- Ebitda fell 9.8 percent to Rs 36.9 crore.
- Margin stood at 16.5 percent versus 19 percent.
SRF (Q3, YoY)
- Stock fell as much as 2.9 percent to Rs 3,678.
- Revenue up 2.3 percent to Rs 1,850.5 crore.
- Net profit up 2.1 times to Rs 343 crore.
- Ebitda rose 25.1 percent to Rs 390.2 crore.
- Margin stood at 21.1 percent versus 17.2 percent.
- Tax reversal of Rs 66 crore aided bottom line numbers.
- Raw material cost as percent of sales stood at 50.4 percent versus 56.7 percent.
- Technical textiles business revenue fell 26 percent to Rs 335.7 crore.
- Chemical business revenue rose 39 percent at Rs 811.9 crore.
- Packaging films business revenue fell 9 percent to Rs 638.2 crore.
Ujjivan Financial Services (Q3, YoY)
- Stock rose as much as 2.4 percent to Rs 383.95.
- Net interest income rose 46.1 percent to Rs 445.9 crore.
- Net profit rose 2.3 times to Rs 72 crore.