Experts expect further correction towards 13,200 if it fails to hold on to 13,720.
The index formed a long bearish candle on the daily and weekly charts as the closing was lower than the opening level. The index lost 5.1 percent during the week. Experts see further correction towards 13,200 if it fails to hold on to 13,720. Here are 10 stocks that moved the most during the week:
Cummins India | The share price gained over 10 percent after the company’s consolidated net profit jumped 20.2 percent to Rs 240.10 crore on a 1.7 percent fall in net sales to Rs 1406.66 crore in Q3 FY21 over Q3 FY20. Profit before tax in Q3 December 2020 stood at Rs 309.72 crore, up by 20 percent from Rs 258.05 crore in Q3 December 2019.
TVS Motor | The stock added 10 percent after the company reported profit after tax which almost doubled to Rs 266 crore in the December quarter, compared to Rs 121 crore in the year-ago quarter. “The third quarter results of last year had a one-time reversal of exceptional item of Rs 76 crore,” TVS Motor said in a release. The standalone revenue rose 31 percent to a record Rs 5,404 crore.
Orient Electric | The stock added over 6 percent last week after the company reported net profit to Rs 53.88 crore in the quarter ended December 2020 as against net loss of Rs 5.68 crore during the previous quarter ended December 2019. Sales rose 7.11 percent to Rs 604.61 crore in the quarter ended December 2020 as against Rs 564.49 crore during the previous quarter ended December 2019. The Board of Directors have considered and approved the payment of interim dividend of Re 0.75 (75 percent) per equity share of face value of Re 1 each for the financial year 2020-21 and have fixed February 10, 2021 as the ‘Record Date’ for determining the shareholders who will be entitled to the said dividend.
Colgate Palmolive | The share price rose 4 percent after the company reported a 24.74 percent increase in net profit at Rs 248.36 crore in the December quarter. It had posted a net profit of Rs 199.1 crore in the same quarter a year ago. Total income during the period under review stood at Rs 1,241.81 crore, up 7.70 percent, as compared to Rs 1,152.97 crore in the year-ago quarter, Colgate-Palmolive (India) said in a regulatory filing.
Bajaj Auto | The stock price was up 8 percent last week. The two-wheeler manufacturer, clocked its highest ever standalone profit at Rs 1,556.3 crore in December 2020, rising 23.4 percent compared to the year-ago period, driven by volume growth and operating performance. Its revenue increased by 16.6 percent year-on-year to Rs 8,910 crore, which was also the highest for a quarter. Volumes grew by 9 percent YoY, driven by a 26 percent growth in motorcycle exports and 8 percent increase in domestic volumes but the three-wheeler segment declined 36 percent year-on-year.
RBL Bank | The stock was down over 14 percent last week. The bank reported net interest income (NII) at Rs 908.15 crore in December 2020 down 1.57 percent from Rs. 922.65 crore in December 2019. However, quarterly net profit came in at Rs. 147.06 crore in December 2020 up 110.24 percent from Rs. 69.95 crore in December 2019. Gross NPAs improved 150 basis points (bps) to 1.84 percent, compared with 3.34 percent in the previous quarter. Net NPAs came down 67 bps to 0.71 percent from 1.38 percent in the September quarter.
Maruti Suzuki | The stock price was down 10 percent last week. Maruti Suzuki posted a 24.1 percent on-year growth in net profit at Rs 1,941.4 crore for the quarter ended December 2020, but the operational performance of the auto major missed Street estimates. CLSA maintained a sell rating and reduced the target price to Rs 6,880 per share from Rs 7,000 earlier and cut FY21-23 EPS estimates 1-5 percent, according to a CNBC-TV18 report. ICICIdirect has maintained its cautious stance on stock and values it at Rs 7,000 i.e., 30x P/E on FY23E EPS (earlier target price Rs 6,450). It has assigned reduce rating on the stock.
Tata Chemicals | The share shed 10 percent after the company reported a 3.66 percent decline in consolidated profit after tax (PAT) at Rs 160.85 crore for the third quarter ended December 2020. The company’s PAT stood at Rs 166.97 crore during the corresponding period of 2019-20, Tata Chemicals said in a statement. Income from operations on a consolidated basis dipped 0.7 percent to Rs 2,606 crore as compared to Rs 2,623 crore in the same quarter of the previous fiscal.
PNB Housing Finance | The share price was down over 9 percent last week after the firm reported a nearly flat consolidated net profit at Rs 232 crore in the third quarter ended December. The non-banking finance company (NBFC) had posted a net profit of Rs 237 crore in the same quarter of the previous fiscal. Total revenue during October-December fell by 9 percent to Rs 1,896 crore from Rs 2,075 crore in the year-ago period, PNB Housing Finance said in a release.
Tata Motors | The stock slipped 9 percent last week. The company declared its Q3 results post market hours on January 29. The auto major reported a 67 percent YoY growth in consolidated profit at Rs 2,906.45 crore for the quarter ended December 2020 driven by robust volumes, improved product mix and cost-saving measures. Profit in the year-ago period was Rs 1,738.3 crore. Consolidated revenue from operations grew by 5.5 percent YoY to Rs 75,653.8 crore in Q3 FY21. UK-based Jaguar Land Rover, which is owned by Tata Motors, reported profit before tax of 439 million pound in Q3 FY21, surging 263 percent from $ 121 million pound in the corresponding period.
Sandip Das
