Stocks Radar: AstraZeneca Pharma, Chalet Hotels, Cummins India, Infosys, Sun Pharma

Indian equity benchmarks traded higher after fluctuating between gains and losses ahead of Reserve Bank of India’s monetary policy review. The benchmark indices are poised for their longest winning streak in over seven weeks.

The S&P BSE Sensex Index rose as much as 0.35 percent to 37,105.55 and the NSE Nifty 50 Index rose as much as 0.30 percent to 11,095.65. The broader market NSE Nifty 500 Index advanced 0.29 percent.

The market breadth was tilted in favour of buyers. About 1,049 stocks advanced and 548 shares declined on the National Stock Exchange. All the 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Auto Index’s 1.6 percent rally.

Here Are The Stocks Moving The Market This Morning

Sun Pharma Top Performer On Sensex, Nifty

Sun Pharmaceutical Industries Ltd. was the top performer on Sensex and Nifty. The stock rose as much as 3.2 percent to Rs 430.

The drug maker’s U.S. subsidiary, Taro Pharma, reported its quarterly results for the three months ended December.

Here are the key earnings highlights (YoY):

• Net sales at $176.4 million, up 13 percent.
• Net profit at $93.5 million, up 422 percent.
• Operating profit at $78.9 million, up 29 percent.
• Operating margin at 44.7 percent versus 39.7 percent.

Infosys Extends Record Run

Shares of the Bengaluru-based software developer extended gains for the second day and rose as much as 0.8 percent to hit a fresh high at 769.15.

The stock traded at 21 times its estimated earnings per share for the coming year, Bloomberg data showed. The scrip advanced 38 percent in the past 12 months compared to an 8.1 percent gain in the Sensex.

Vodafone Idea Swings After Q3 Loss Widens

Shares of Vodafone Idea Ltd. fluctuated between gains and losses to trade little changed at Rs 29.85 after it continued to post loss for the second straight quarter. (More details here)

Key Earnings Highlights (Q3, QoQ)

• Revenue down 2.2 percent at Rs 11,765 crore.
• Net loss at Rs 5,005 crore versus net loss at Rs 4,974 crore.
• Ebitda up 16.3 percent at Rs 1,137 crore.
• Margins at 9.66 percent versus 8.13 percent.
• ARPU down 1.14 percent at Rs 89.

Q3 is the first full quarter of Vodafone Idea post merger completion.

Here’s what UBS had to say after the December quarter results announcement:

• Maintained ‘Neutral’ with a price target of Rs 38.
• Better-than-expected December quarter.
• Saw improvement in 4G subs, but lower compared to Bharti.
• Ebitda beat driven by lower-than-expected opex.

AstraZeneca Pharma Jumps The Most In Over Eight Months

Shares of the pharmaceutical company extended gains for the second day and rose as much as 15 percent, the most since Jul. 11, 2018, to Rs 1,849, after the company swung to profit in the December-ended quarter.

Here Are The Key Earnings Highlights (YoY):

• Revenue up 67.5 percent at Rs 215.2 crore.
• Net profit at Rs 29.9 crore versus net loss of Rs 10.34 crore.
• Ebitda at Rs 41.8 crore versus Ebitda loss of Rs 10.4 crore.
• Inventory write-off was Rs 42.6 crore in base quarter.

Chalet Hotels Falls Nearly 7% In Stock Market Debut

Chalet Hotels Ltd. listed at a premium of 5 percent to Rs 294 apiece on National Stock Exchange, compared with its issue price of Rs 280. The hotel chain operator, however fell as much as 6.8 percent further.

Other Stocks Reacting To Earnings Announcement

IGL (Q3, YoY)

• Stock swung between gains and losses to trade 1.3 percent lower at Rs 303.60.
• Revenue up 27.4 percent at Rs 1,508 crore.
• Net profit up 19.3 percent at Rs 198 crore.
• Ebitda up 20.8 percent at Rs 318 crore.
• Margin at 21.1 percent versus 22.2 percent.

Entertainment Network (Q3, YoY)

• Stock rose as much as 5.7 percent to Rs 570.
• Revenue up 35.8 percent at Rs 200.9 crore.
• Net profit up 22 percent at Rs 16.1 crore.
• Ebitda up 13.5 percent at Rs 40.4 crore.
• Margin at 20.1 percent versus 24.1 percent.
• Production expenses up 75 percent at Rs 80.7 crore.
• Other income of Rs 4.4 crore.

Cummins India (Q3, YoY)

• Stock fell as much as 3.6 percent to Rs 772.45.
• Revenue up 11 percent at Rs 1,503.8 crore.
• Net profit up 8.7 percent at Rs 187.1 crore.
• Ebitda up 15.3 percent at Rs 226.7 crore.
• Margin at 15.1 percent versus 14.5 percent.
• Declares dividend of Rs 7 per share.