Stocks Radar: Avanti Feeds, Bharti Airtel, Cadila Healthcare, J&K Bank
Indian equity benchmarks were volatile as gains in Reliance Industries Ltd. and HDFC Bank Ltd. were offset by the losses in ITC Ltd. and Infosys Ltd.
The S&P BSE Sensex rose 0.29 percent to 40,906 after falling as much as 0.2 percent in opening trade. The NSE Nifty 50 rose as much as 0.48 percent to 12,037.25 after falling as much as 0.22 percent. The broader markets represented by the NSE Nifty 500 Index rose 0.43 percent.
10 out of 11 sectoral gauges compiled by National Stock Exchange traded higher, led by the NSE Nifty Realty Index’s 1.4 percent gain. On the flip side, the NSE Nifty Media Index was the top sectoral loser, down 0.4 percent.
Here Are The Stocks Moving The Markets Today
Cadila Healthcare Gains On FDA Boost
Shares of Cadila Healthcare rose as much as 2.4 percent to Rs 270.40.
The pharmaceutical company received zero Form 483 observations from U.S. FDA after the inspection at its Ahmedabad plant, which manufactures oncology injectables for the regulated markets.
Trading volume was more than two times its 20-day average, Bloomberg data showed. The scrip traded at 19 time its estimated earnings per share for the coming year.
Jammu & Kashmir Bank Halts Two-Day Losing Streak
Shares of Jammu & Kashmir Bank Ltd. halted a two-day losing streak. The stock rose as much as 3.3 percent to Rs 25.10.
The lender plans to consider raising capital by up to Rs 500 crore via issue of preference share to the government on Feb. 7.
The scrip slumped 5 percent in the last two trading sessions. Trading volume was almost seven times its 20-day average, Bloomberg data showed.
Havells India Jumps The Most In Over Two Months After Large Trade
Shares of Havells India Ltd. rose as much as 3.6 percent, the most since Nov. 25, 2019, to Rs 630.
About 1.52 crore shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
The stock declined 17 percent in the past 12 months compared to a 11 percent gain in the Sensex.
Stocks Reacting To Results Announcement
Bharti Airtel (Q3, QoQ)
- Stock rose as much as 2 percent to Rs 529.
- Revenue up 3.9 percent to Rs 21,947 crore.
- Net loss at Rs 1,035 crore versus net loss at Rs 23,045 crore.
- Ebitda up 4.6 percent to Rs 9,267 crore.
- Margin stood at 42.2 percent versus 41.9 percent.
- Average revenue per user stood at Rs 135.
TVS Motor (Q3, YoY)
- Stock rose as much as 6.1 percent to Rs 483.
- Revenue fell 11.5 percent to Rs 4,125.5 crore.
- Net profit fell 32.3 percent to Rs 121.1 crore.
- Adjusted net profit rose 10.2 percent to Rs 197.1 crore.
- Ebitda fell 3.3 percent to Rs 363.3 crore.
- Margin stood at 8.8 percent versus 8.1 percent.
- Raw material cost as percent of sales at 72.2 percent.
Tata Global Beverages (Q3, YoY)
- Stock rose as much as 6.1 percent to Rs 403.
- Revenue rose 2.6 percent to Rs 1,961.9 crore.
- Net profit rose 21.5 percent to Rs 120.6 crore.
- Ebitda rose 22.1 percent to Rs 239.6 crore.
- Margin stood at 12.2 percent versus 10.3 percent.
- Raw material costs as a percent of sales at 53.8 percent.
- Tea business revenue rose 2 percent to Rs 1,412.2 crore.
- Coffee business revenue fell 4 percent to Rs 313.9 crore.
Thermax (Q3, YoY)
- Stock rose as much as 2.6 percent to Rs 1,060.
- Revenue fell 1.8 percent to Rs 1,410.1 crore.
- Net profit rose 13.3 percent to Rs 85 crore.
- Ebitda rose 5.5 percent to Rs 113.2 crore.
- Margin stood at 8 percent versus 7.5 percent.
Apollo Pipes (Q3, YoY)
- Stock rose as much as 5.5 percent to Rs 421.
- Revenue rose 15 percent to Rs 100 crore.
- Net profit rose 26.4 percent to Rs 6.7 crore.
- Ebitda rose 24.4 percent to Rs 10.7 crore.
- Margin stood at 10.7 percent versus 9.9 percent.
CSB Bank (Q3, YoY)
- Stock rose as much as 6.3 percent to Rs 198.50.
- Net interest income rose 31.3 percent to Rs 155.3 crore.
- Net profit stood at Rs 28.1 crore.
- Provisions up 31 percent to Rs 35.3 crore.
- GNPA at 3.22 percent versus 2.86 percent (QoQ).
- NNPA at 1.98 percent versus 1.96 percent (QoQ).
- NIMs at 3.4 percent versus 3.1 percent (QoQ).
Avanti Feeds (Q3, YoY)
- Stock fell as much as 15.4 percent to Rs 610.
- Revenue up 10.5 percent to Rs 922.7 crore.
- Net profit down 34.9 percent to Rs 47.9 crore.
- Ebitda down 42.2 percent to Rs 63.4 crore.
- Margin stood at at 6.9 percent versus 13.1 percent.
- Raw material cost as percent of sales at 82.6 percent.
- Other expenses rose 23 percent to Rs 72.5 crore.
- Margins dragged due to higher raw material costs and other expenses.
- Shrimp feed revenue rose 8 percent to Rs 657.5 crore.
- Processed shrimp revenue rose 16 percent to Rs 265 crore.
Oracle Financial Services Software (Q3, QoQ)
- Stock rose as much as 2.6 percent to Rs 3,069.
- Revenue flat at Rs 1,160.2 crore.
- Net profit rose 27.3 percent to Rs 456.8 crore.
- EBIT rose 1.4 percent to Rs 499.5 crore.
- Margin stood at 43.1 percent versus 42.4 percent.
- Other Income rose 35 percent to Rs 62.1 crore.
- Tax as a percent of profit before tax at 18.3 percent.
- Reversal of tax expense of Rs 35.4 crore.
- Product business revenue fell 1 percent to Rs 1,028 crore.
- Services business revenue fell 15 percent to Rs 101 crore.
- BPO services revenue rose 14 percent to Rs 31.1 crore.
- Signed license deals of $12.2 million during the quarter.