Stocks Radar: Aries Agro, Prime Focus, Sasken Tech
Here are the stocks moving the market this morning.
Indian shares fluctuated between gains and losses after the key indices touched all-time highs on Monday.
The benchmark S&P BSE Sensex dropped 0.2 percent to 32,561 while the NSE Nifty 50 Index fell 0.1 percent to 10,218. Both the broader indices had gained 0.1 percent in opening trade.
Here Are The Stocks Moving The Market This Morning
Reliance Industries: Halts 3-Day Gains
Shares of the Mukesh Ambani-led company halted three-day gains and fell as much as 0.6 percent to Rs 871.45.
The company, along with its partner BP Plc., submitted a revised investment plan for bringing to production the satellite gas discoveries in the flagging KG-D6 block, according to PTI report.
About 75 percent of analysts covering the company have changed their price targets over the past month (28 up, 0 down, 7 unchanged, 2 dropped), according to Bloomberg data. The analyst consensus price target was Rs 928.43, implying a potential upside of 5.9 percent from the current market price.
Prime Focus: Jumps On ‘Buy’ Rating
Shares of the film production company rose as much as 19.9 percent, the most in over two-and-a-half years, to Rs 107.60.
Brokerage house, Motilal Oswal initiated coverage on the stock with a ‘Buy’ rating and a price target of Rs 130, implying a potential upside of 22.6 percent form the current market price.
Trading volume was 645.6 times its 20-day average. The stock has returned 59 percent so far this year and a gain of 49 percent in the past 12 months.
Voltas: Appoints New CEO
Shares of the home appliance maker snapped two-day decline and rose as much as 0.2 percent to Rs 533.05.
The company appointed Pradeep Bakshi as its chief executive officer, according to its exchange notification.
The analysts have raised their consensus earnings estimate for the fourth quarter to $5.36 per share from $5.08 per share., according to Bloomberg data. The stock trades at 28.1 times estimated forward earnings per share and 25 times for the two-year historical average.
DB Realty: Settles Claims With LIC Housing Finance
Shares of the real estate developer rose as much as 2.5 percent to Rs 35.
The company settled claims with LIC Housing Finance Rs 30.6 crore debt claim, according to a report by news agency – Cogencis.
On October 12, the realty company had confirmed that LIC Housing Finance had filed insolvency case against the company in National Company Law Tribunal (NCLT), according to its exchange notification.
The stock returned a negative 5.5 percent so far this year, and a loss of 30 percent in the past 12 months.
Stocks Reacting To Earnings
Oberoi Realty (Q2FY18 YoY)
- Stock rose as much as 1.9 percent to Rs 487.65
- Revenue up 20.4 percent to Rs 303.5 crore
- Net profit up 24.6 percent to Rs 104 crore
- EBITDA up 31.6 percent to Rs 164.5 crore
- Margin at 54.2 percent from 49.6 percent
DCB Bank (Q2FY18 YoY)
- Stock fell as much as 3.8 percent to Rs 183
- Net profit up 21.7 percent to Rs 58.9 crore Vs Rs 48.4 crore
- NII up 30.3 percent to Rs 248 crore Vs Rs 190.3 crore
- Gross NPA at 1.80 percent from 1.74 percent (QoQ)
- Net NPA at 0.90 percent from 0.92 (QoQ)
Sasken Tech (Q2FY18 QoQ)
- Stock rose as much as 7.7 percent to Rs 569.70
- Net profit up 8.7 percent to Rs 18.7 crore
- Revenue up 5.9 percent to Rs 125 crore
- EBITDA up 37.8 percent to 18.6 crore
- Margin to 14.9 percent
Hatsun Agro (Q2FY18 YoY)
- Stock rose as much as 3.6 percent to Rs 730.90
- Net profit up 17.5 percent to Rs 38 crore
- Revenue up 6.5 percent to Rs 1067 crore
- EBITDA up 15.85 to Rs 105.4 crore
- Margin at 9.9 percent
Delta Corp (Q2FY18 YoY)
- Stock rose as much as 2 percent to Rs 232.40
- Net profit up 33.5 percent to Rs 43 crore
- Revenue up 8.2 percent to Rs 145 crore
- EBITDA up 14.3 percent to Rs 64.5 crore
- Margin at 44.5 percent
Persistent System (Q2FY18 QoQ)
- Stock rose as much as 2.3 percent to Rs 680
- Net profit up 10 percent to Rs 82.6 crore
- Revenue up 4.6 percent to Rs 761.2 crore
- EBIT up 19.3 percent at Rs 77.8 crore
- EBIT margin at 10.2 percent
Bajaj Finserv (Q2FY18 YoY)
- Stock fell as much as 0.9 percent to 5,307.75
- Net profit up 13.3 percent to Rs 652 crore
- Revenue up 27.7 percent to Rs 7,561
Stock Reacting To Bulk Deal
Aries Agro
- Rose as much as 15.9 percent to Rs 239.45
- Vijay Kedia bought 2.6 lakh shares or 2 percent equity stake at Rs 199.93 each