Except metal and pharma all other sectoral indices ended in the red. BSE Midcap and Smallcap indices shed over 1 percent each.
Benchmark indices fell for the third straight session on January 25 amid selling in heavyweights. At close, the Sensex was down 530.95 points or 1.09% at 48,347.59, and the Nifty was down 133.00 points or 0.93% at 14,238.90. Here are 10 stocks that moved the most:
Asian Paints | CMP: Rs 2,513.95 | Share price shed 3 percent after Goldman Sachs retained a “sell” rating on the stock with the target at Rs 1,633 per share. The research house said Grasim is the second large entrant in the decorative paints market in three years after JSW Paints. New entrants such as Grasim and JSW could pose increased competition risk, CNBC-TV18 reported. The research firm said the company’s valuation does not reflect the risks of increased competition.
Biocon | CMP: Rs 382.70 | Share price shed nearly 3 percent after global research firm CLSA has retained sell on the stock and has cut target to Rs 240 from Rs 260 per share. It is of the view that Q3 profit was sharply lower than estimates adding that generics business was impacted by higher inventory, according to a CNBC-TV18 report. CLSA believes that COVID-19 disruptions led to modest growth for the biologics segment. Traction in biologics was weak for a fifth consecutive quarter adding that market share gains in biologics will only be gradual.
Reliance Industries | CMP: Rs 1,941 | Share price slipped more than 5 percent on January 25 after country’s largest company by market capitalisation on January 22 reported a 40.5 percent sequential growth in consolidated profit at Rs 14,894 crore for the quarter ended December 31, 2020, driven by a robust revival in O2C and retail segments and a steady growth in digital-services business, with Jio showing a 15.5 percent QoQ growth in profit and 4.1 percent rise in ARPU. The company’s consolidated revenue from operations for the quarter increased 6.7 percent quarter-on-quarter to Rs 1,23,997 crore, rising sharply from Rs 1,16,195 crore in the September quarter, with a strong sequential rebound across all businesses. (Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. which published moneycontrol.com)
UltraTech Cement | CMP: Rs 5,368.40 | Share price touched 52-week high of Rs 5,831.80 but ended with 3 percent loss on January 25 after company in the quarter-ended December 2020 posted consolidated net profit at Rs 1,584 crore versus Rs 711 crore in the same quarter last fiscal. Revenue of the company was up 17.4% at Rs 12,254.1 crore versus Rs 10,439.3 crore.
Tata Motors | CMP: Rs 279.15 | Share price slipped 3.5 percent on January 25 after the company announced price hike of its passenger vehicle range. The company has marginally increased prices from 0 to Rs 26,000, depending on the variant. Continuing its commitment towards customers, the company will also offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 21st January.
Lupin | CMP: Rs 1,081.90 | Share price ended with marginal gains after the company received United States Food and Drug Administration (US FDA) approval. for its Sevelamer Carbonate Tablets, 800 mg, from the US FDA, to market a generic equivalent of Renvele Tablets, 800 mg, of Genzyme Corporation. Sevelamer Carbonate Tablets are indicated for the control of serum phosphorus in adults and children 6 years of age and older with chronic kidney disease on dialysis.
Grasim Industries | CMP: Rs 1,069.75 | Share price touched a 52-week high of Rs 1,114.65, gaining over 6 percent on January 25 after company board at its meeting held on January 22 approved entering in paints as a new line of business and subject to the approval of the shareholders. The entry in the paints sector will add size, scale and diversity to the existing business portfolio of the company and it believes that this sector is likely to be value accretive to its stakeholders.
Kotak Mahindra Bank | CMP: Rs 1,794.40 | Kotak Mahindra Bank share price declined 2 percent despite company reported a 16.1 percent year-on-year growth in profit at Rs 1,853.5 crore for the quarter ended December 2020. Profit in the corresponding period was at Rs 1,596 crore. The net interest income, the difference between interest earned and interest expended, has grown by 16.8 percent to Rs 4,007 crore in Q3FY21, compared to Rs 3,430 crore in same period last year. Advances at the end of December 2020 stood at Rs 2,14,103 crore, declining 1.2 percent compared to Rs 2,16,774 crore as of December 2019.
Lemon Tree Hotels | CMP: Rs 40.70 | Lemon Tree Hotels share price added a percent after company open hotel under the company’s brand ‘Lemon Tree Hotel’ at Aligarh. The hotel features 68 well-appointed rooms and suites, a multi-cuisine coffee shop – Citrus Cafe, an Indian Speciality restaurant – Kebab Theater, a bar – Slounge, meeting and conference spaces, and recreation facilities, including a swimming pool, a well-equipped fitness center etc.
Mahindra Holidays | CMP: Rs 222.15 | The company stock added 3 percent after company reported its December quarter result. It has posted consolidated net profit at Rs 0.2 crore against Rs 5 crore and revenue was down 16.8% at Rs 489.1 crore versus Rs 588.3 crore, YoY.
Rakesh Patil
