Stocks Radar: Bharti Infratel, Mahindra & Mahindra, Vodafone Idea, Info Edge
Indian equity benchmarks fluctuated in the open as gains in Reliance Industries Ltd. and ITC Ltd. offset losses in Infosys Ltd. and HDFC Ltd. The S&P BSE Sensex and the NSE Nifty 50 Index traded flat at 36,147.77 and 10,841.45, respectively, as of 10:30 a.m. Asian stocks, too, traded mixed as investors awaited fresh developments on U.S.-China trade talks.
The market breadth was tilted in favour of sellers. About 798 stocks declined and 741 advanced on the National Stock Exchange. Six out of the 11 sectoral gauges fell, led by the NSE Nifty Metal Index’s 0.57 percent decline. The NSE Nifty Realty Index was the top gainer, up 2.48 percent.
Here Are The Stocks Moving The Market This Morning
Bharti Infratel Swings After Q3 Results
Shares of Bharti Infratel fluctuated between gains and losses to trade 2.4 percent lower at Rs 270.35 apiece.
The company’s net profit rose 8 percent on a sequential basis to Rs 648 crore during the three months ended December, according to its stock exchange filing.
Key Earnings Highlights (Q3, QoQ)
- Revenue down 0.2 percent at Rs 3,640 crore.
- Ebitda up 0.5 percent at Rs 1,513 crore.
- Margin stood at 41.2 percent versus 41.6 percent.
Here’s what analysts had to say about Bharti Infratel’s quarterly results:
- Maintains ‘Outperform’ with a price target of Rs 315.
- December quarter results were ahead of estimates; cost controls support margin.
- Rise in rent per operator led to revenue surprise.
- Expects tenancy growth to return.
- Maintains ‘Buy’ with a price target of Rs 355.
- December quarter beat estimates aided by better rental realisation and exit charges.
- Ebitda growth driven both by higher revenues and lower opex.
- Shares are attractively valued.
- Maintains ‘Buy’ with a price target of Rs 352.
- Results were ahead of our and consensus’ muted expectations.
- Discussion on exit penalties to dominate in the conference call.
- Change of ownership and increased rollout by incumbents is key catalyst.
Mahindra & Mahindra Trades Near 13-Month Low
Shares of the Anand Mahindra-led company fell for the fourth session and are set for their longest losing streak in over a month. The stock fell as much as 1.4 percent to Rs 686.05, its lowest levels since December 2017.
The scrip declined 6 percent in the past five days and declined 12 percent in the past 30 days. It traded at 14 times its estimated earnings per share for the coming year, according to Bloomberg data.
Info Edge Hits A Record
Shares of Info Edge extended gains for the third session. The stock rose as much as 3.5 percent to hit a new all-time high at Rs 1,790 apiece.
The trading volume was 5.3 times its 30-day average, Bloomberg data showed. The stock advanced 27 percent so far this year compared to a 0.9 percent gain in the Sensex.
Vodafone Idea Gains After Approves Fundraise
Shares of India’s largest telecom operator rose as much as 3.83 percent, the most in over a month, to Rs 35.20 apiece.
The company’s board approved the proposal to raise close to Rs 25,000 crore via rights issue. Vodafone Group Plc will contribute Rs 11,000 crore, while Aditya Birla Group will invest Rs 7,250 crore, according to its exchange filing. The infusion is expected to be completed by March, it said. (Read the full story here)
Other Stocks Reacting To Earnings Announcement
InterGlobe Aviation (Q3, YoY)
- Stock parred early losses and rose as much as 5 percent to Rs 1,164.95.
- Revenue up 28 percent to Rs 7,916 crore.
- Net profit down 75 percent to Rs 191 crore.
- Ebitdar down 19 percent to Rs 1,595 crore.
- Ebitdar margin stood at 20.15 percent versus 32 percent.
Pidilite Industries (Q3, YoY)
- Stock fell as much as 3.6 percent to Rs 1,091.
- Revenue up 19.8 percent at Rs 1,848.3 crore.
- Net profit down 8.5 percent at Rs 219.5 crore.
- Ebitda down 9 percent at Rs 336.7 crore.
- Margin at 18.2 percent versus 24 percent.
- Standalone volume growth at 11 percent.
United Spirits (Q3, YoY)
- Stock rose as much as 2.7 percent to Rs 596.
- Revenue up 10.5 percent at Rs 2,501.2 crore.
- Net profit up 42.8 percent at Rs 192.4 crore.
- Ebitda up 27.8 percent at Rs 348.1 crore.
- Margin at 13.9 percent versus 12 percent.
- Other Income at Rs 61.4 crore versus Rs 23.6 crore.
- Exceptional loss widened to Rs 20 crore from Rs 12.6 crore.
Hathway Cable & Datacom (Q3, YoY)
- Stock rose as much as 0.63 percent to Rs 31.95.
- Revenue down 2.7 percent at Rs 134.9 crore.
- Net profit down 73.2 percent at Rs 6.4 crore.
- Ebitda down 14.5 percent at Rs 51.4 crore.
- Margin at 38.1 percent versus 43.3 percent.
Navin Fluorine (Q3, YoY)
- Stock fell as much as 4.1 percent to Rs 635.
- Revenue up 2 percent at Rs 226 crore.
- Net profit down 18.7 percent at Rs 38.8 crore.
- Ebitda flat at Rs 52.4 crore.
- Margin at 23.2 percent versus 23.7 percent.
- Other income of Rs 23 crore in base quarter.
Ujjivan Financial Services (Q3, YoY)
- Stock rose as much as 7.6 percent to Rs 305.95.
- Total interest income up 33.4 percent at Rs 512.6 crore.
- Net interest income up 30.2 percent at Rs 252 crore.
- Net profit up 54 percent at Rs 45.2 crore.
- Net interest margin flat at 11.8 percent.
- Loan book up 31.8 percent at Rs 9,349 crore.
Thirumalai Chemicals (Q3, YoY)
- Stock fell as much as 19.9 percent to Rs 81.
- Revenue down 6.1 percent at Rs 323.6 crore.
- Net profit down 77.9 percent at Rs 11.4 crore.
- Ebitda down 66.8 percent at Rs 26.4 crore.
- Margin at 8.2 percent versus 23.1 percent
JM Financial (Q3, YoY)
- Stock fell as much as 4.5 percent to Rs 79.25.
- Net interest income up 5.6 percent at Rs 519.9 crore.
- Net profit down 12.6 percent at Rs 137.5 crore.
- Other income of Rs 16.4 crore.
- AUM of mutual fund schemes at Rs 11,364 crore.
Reliance Communications (Q3, QoQ)
- Stock fell as much as 2.3 percent to Rs 12.65.
- Revenue up 9.5 percent at Rs 1,070 crore.
- Net loss at Rs 238 crore versus net loss at Rs 130 crore.
- Ebitda up 43.1 percent at Rs 146 crore.
- Margin at 13.6 percent versus 10.4 percent.
Sintex Plastics Technology (Q3, YoY)
- Stock fell as much as 8.3 percent to Rs 22.90.
- Revenue down 16.7 percent at Rs 1,110.4 crore.
- Net profit down 50 percent at Rs 25.9 crore.
- Ebitda down 17.6 percent at Rs 152.3 crore.
- Margin at 13.7 percent versus 13.9 percent.
Everest Industries (Q3, YoY)
- Stock fell as much as 4.1 percent to Rs 442.
- Revenue up 5.5 percent at Rs 307.3 crore.
- Net profit up 22.3 percent at Rs 11.5 crore.
- Ebitda up 13.2 percent at Rs 21.4 crore.
- Margin at 7 percent versus 6.5 percent.