Stocks Radar: Info Edge, KPIT Technologies, MCX, Zee Entertainment
Indian equity benchmarks extended gains for the second day. The S&P BSE Sensex Index rose as much as 0.4 percent to 36,462.03 and the NSE Nifty 50 Index rose as much as 0.38 percent to 10,928.15.
The market breadth was tilted in favour of buyers. About 987 stocks gained and 563 shares declined on the National Stock Exchange.
Seven out of 11 sectoral gauges compiled by the NSE advanced, led by the NSE Nifty PSU Bank Index's 1.3 percent gain. On the flip side, the NSE Nifty FMCG Index was the top sectoral loser, down 0.8 percent.
Here Are The Stocks Moving The Market This Morning
Zee Entertainment Gains On Nifty After Q3 Profit Beats Estimates
Shares of Zee Entertainment rose as much as 4.2 percent, the most since Dec. 26, to Rs 475.90.
The Company's quarterly profit during October-December period rose the most in over a year (More details here)
Key Earnings Highlights (Q3, YoY)
- Revenue up 18 percent at Rs 2,167 crore.
- Net profit up 51 percent at Rs 563 crore.
- Ebitda up 27 percent at Rs 753 crore.
- Margin at 34.8 percent versus 32.3 percent.
Here's what analysts had to say about Zee Entertainment after the company announced its results:
- Maintained “Buy” with a price target of Rs 670.
- Q3 Review: Results were ahead of estimates; Encouraging ZEE5 ramp-up.
- Strong advertising and subscription outlook.
- Upgrade forecasts by 1-4 percent and expect Zee to deliver 19 percent earnings CAGR over FY19-21.
- Maintained “Outperform”; hiked price target to Rs 564 from Rs 556.
- Q3 addressed investor concerns on margins and progress of ZEE5.
- Strongly believe Zee is among the most attractive media assets in emerging markets.
- Catalyst: Clarity on promoter stake sale, sustained ramp-up of ZEE5.
Shrimp Stocks Rally After Volume Of Exports To U.S. Rises
Shrimp stocks rallied in today’s trade after India’s shrimp exports to U.S. rose in terms of volume and value in October 2018.
- India exported 2,78,60,983 kg of shrimp to U.S. at $247.9 million in October 2018
- Realisations rose 5 percent to $8.9 per kg from $8.49 per kg last month.
- Total shrimp export increased by 11.5 percent in terms of volume and 16.8 percent in terms of value compared to last month.
- Shrimp prices in international market have risen for second consecutive month.
Godrej Agrovet Jumps The Most In Over Three Months
Shares of Godrej Agrovet rose as much as 5.7 percent, the most since October, to Rs 523.20.
Trading volume was 61.2 times its 30-day average, Bloomberg data showed. The stock traded at 30.9 times its estimated earnings per share compared to a 35.2 times for the two-year historical average.
Info Edge Surges To Record High
Shares of Info Edge India Ltd. extended gains for the fourth day. The stock rose as much as 3.4 percent to hit a new all-time high at Rs 1,737.
The stock has returned 22.3 percent over the last 12 months compared to a 6.1 percent advance in the Sensex.
Other Stocks Reacting To Earnings
MCX (Q3, YoY)
- Stock rose as much as 1.9 percent to Rs 777.75.
- Revenue up 22.5 percent at Rs 76.9.
- Net profit at Rs 42 crore.
- Ebitda up 35.7 percent at Rs 20.9 crore.
- Margin at 27.2 percent.
Speciality Restaurants (Q3, YoY)
- Stock rose as much as 21.7 percent to Rs 98.40.
- Revenue up 24.2 percent at Rs 98.5 crore.
- Net profit at Rs 8.4 crore.
- Ebitda at Rs 12.5 crore.
- Margin at 12.7 percent.
Den Networks (Q3, YoY)
- Stock fell as much as 1.4 percent to Rs 69.25.
- Revenue down 6 percent at Rs 308.4 crore.
- Net loss at Rs 32.4 crore.
- Ebitda down 38.8 percent at Rs 48.2 crore.
- Margin at 15.6 percent.
Jay Bharat Maruti (Q3, YoY)
- Stock fell as much as 4.7 percent to Rs 288.10.
- Revenue up 5.3 percent at Rs 458 crore.
- Net profit down 20 percent at Rs 11.2 crore.
- Ebitda up 5.9 percent at Rs 39.2 crore.
- Margin at 8.6 percent.
KPIT Technologies (Q3, QoQ)
- Stock fell as much as 6.4 percent to Rs 198.25.
- Revenue down 6.6 percent at Rs 563.7 crore.
- Net profit down 22 percent at Rs 63.9 crore.
- EBIT down 29.2 percent at Rs 65.2 crore.
- Margin at 11.6 percent.