Stocks Radar: Avenue Supermarts, DLF, HPCL, ITI, Ajanta Pharma
Indian equities opened higher, extending gains for the fourth consecutive trading session.
The S&P BSE Sensex rose 0.32 percent to 41,270 and the NSE Nifty 50 rose 0.37 percent to 12,132. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.
The market breadth was tilted in favour of buyers. About 1,006 stocks advanced and 457 shares declined on the National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Pharma Index’s 0.9 percent gain. On the flip side, the NSE Nifty Realty Index was the only sectoral loser, down 0.5 percent.
Here Are The Stocks To Watch Out For In Today’s Trade
ITI Gains For Third Day, Shares Surge Over 12%
Shares of ITI Ltd. extended gains for the third consecutive trading session. The stock rose as much as 12.2 percent, the most since Jan. 7, to Rs 94.55.
The company withdrew its follow-on public offer citing prevailing market conditions.
The scrip traded at 31 times its estimated earnings per share for the coming year, according to Bloomberg data.
Avenue Supermarts Surges 5% To Record High
Shares of Avenue Supermarts Ltd. extended gains for the fourth consecutive trading session. The stock rose as much as 4.9 percent to hit an all-time high at Rs 2,360.
The company’s qualified institutional placement opened on Feb. 5. It is looking to raise Rs 3,998.08 crore from the issue of up to 2 crore shares. The market regulator-calculated floor price stands at Rs 1,999.04 apiece, a discount of 11 percent to Wednesday’s closing price.
Trading volume was five times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.
Adani Gas Halted A Two-Day Gaining Streak
Shares of Adani Gas Ltd. halted their two-day gaining streak. The stock fell as much as 0.7 percent to Rs 171.35.
The company expects to close Total SA deal in two weeks. Besides, it is also mulling direct LNG imports when sales volume rise, according to a Bloomberg report.
The stock has returned 4.7 percent in the past five days and 6.7 percent in the past 30 days, Bloomberg data showed.
Stocks Reacting To Results Announcement
DLF (Q3, YoY)
- Stock fell as much as 2.7 percent to Rs 246.60.
- Revenue down 39.5 percent to Rs 1,342 crore.
- Ebitda down 64.3 percent to Rs 237.6 crore.
- Margin at 17 percent versus 28.8 percent.
- Net profit up 23.5 percent to Rs 414 crore.
- Exceptional gains of Rs 231 crore on sale of stake in wholly-owned subsidiaries and joint ventures aided net profit.
HPCL (Q3, QoQ)
- Stock fell as much a 1.7 percent to Rs 233.
- Revenue up 16.2 percent to Rs 70,749.6 crore.
- Net profit down 29 percent to Rs 747.2 crore.
- Ebitda down 19.7 percent to Rs 1,867 crore.
- Margin stood at 2.6 percent versus 3.8 percent.
- Gross refining margin stood at $1.79 per barrel versus $2.83 per barrel.
Gujarat Gas (Q3, QoQ)
- Stock rose as much as 2.9 percent to Rs 305.
- Revenue flat at Rs 2,506.2 crore.
- Net profit fell 62 percent to Rs 196.5 crore.
- Ebitda flat at Rs 370.6 crore.
- Margin stood at 14.8 percent versus 14.8 percent.
Cadila Healthcare (Q3, YoY)
- Stock rose as much as 5.3 percent to Rs 285.90.
- Revenue up 1.7 percent to Rs 3,638.1 crore.
- Net profit down 26.8 percent to Rs 373.9 crore.
- Ebitda fell 17.5 percent to Rs 693.2 crore.
- Margin stood at 19.1 percent versus 23.5 percent.
Ajanta Pharma (Q3, YoY)
- Stock rose as much as 10.9 percent to Rs 1,328.
- Revenue rose 34.2 percent to Rs 651.2 crore.
- Net profit rose 60.8 percent to Rs 107.6 crore.
- Ebitda rose 73.3 percent to Rs 186 crore.
- Margin stood at 28.6 percent versus 22.13 percent.
Divi's Laboratories (Q3, YoY)
- Stock rose as much as 2.4 percent to Rs 2,009.
- Revenue rose 2.7 percent to Rs 1,396.3 crore.
- Net profit fell 7.8 percent to Rs 359.1 crore.
- Ebitda fell 7.3 percent to Rs 494 crore.
- Margin stood at 35.4 percent versus 39.2 percent.
Indiabulls Housing Finance (Q3, YoY)
- Stock rose as much as 3.9 percent to Rs 287.75.
- Net interest income fell 50.9 percent to Rs 614.1 crore.
- Net profit fell 43.8 percent to Rs 546.9 crore.
Brigade Enterprises (Q3, YoY)
- Stock rose as much as 1.6 percent to Rs 235.80.
- Revenue fell 19.7 percent to Rs 552.3 crore.
- Net profit rose 1 percent to Rs 49.3 crore.
- Ebitda fell 11.5 percent to Rs 155.6 crore.
- Margin stood at 28.2 percent.
Engineers India (Q3, YoY)
- Stock rose as much as 5.7 percent to Rs 99.50.
- Revenue rose 53.7 percent to Rs 899.2 crore.
- Net profit rose 19.4 percent to Rs 111.8 crore.
- Ebitda fell 8.7 percent to Rs 89.8 crore.
- Margin stood at 10 percent versus 16.8 percent.
- Deferred tax reversal of Rs 10 crore in current quarter.
Prataap Snacks (Q3, YoY)
- Stock fell as much as 4.7 percent to Rs 778.90.
- Revenue rose 17 percent to Rs 360.7 crore.
- Net profit fell 32.1 percent to Rs 5.5 crore.
- Ebitda fell 1.8 percent to Rs 21.8 crore.
- Margins stood at 6 percent versus 7.2 percent.