Except IT all sectoral indices ended in the green. BSE midcap and smallcap indices rose over 1 percent each.
Indian indices continued their winning streak for the fourth straight session on February 4, supported by the PSU bank and metal stocks. At close, the Sensex was up 358.54 points, or 0.71%, at 5,0614.29, and the Nifty was up 105.70 points, or 0.71%, at 14,895.70.
State Bank of India | CMP: Rs 357.95 | The share jumped over 3 percent after the bank reported its Q3 numbers. Net interest income grew by 3.7 percent year-on-year to Rs 28,819.94 crore in Q3FY21, meeting analysts’ estimates. NII in Q3FY20 inflated by the recovery of Essar Steel account. It reported a 6.9 percent year-on-year decline in standalone profit at Rs 5,196.22 crore for the quarter ended December 2020, dented by higher provisions and slower NII growth.
Bharti Airtel | CMP: Rs 599.80 | The share price ended in the red on February 4, a day after India’s second-biggest telecom provider said it turned profitable for the quarter ended December 2020, posting a consolidated net profit of Rs 853.6 crore, driven by exceptional gains. The average revenue per user (ARPU) at Rs 166 increased by 2.4 percent from Rs 162 in the previous quarter and revenue per tower per month grew by 4.4 percent QoQ to Rs 2,43,395.
Jubilant Foodworks | CMP: Rs 2,822.25 | The stock jumped over 6 percent on the back of the company’s December quarter earnings announced the previous day. The company posted a 22 percent jump in its Q3 net profit at Rs 124.1 crore against Rs 101.8 crore in the year-ago quarter. Revenue was down at Rs 1,069.3 crore against Rs 1,071.4 crore year-on-year. Earnings before interest, tax, depreciation and amortization were up 10% at Rs 280 crore and the margin was up at 26.2 percent.
Apollo Tyres | CMP: Rs 243.10 | The stock price gained 6 percent after the company posted over a two-fold increase in its consolidated net profit at Rs 444 crore for the third quarter ended December on the back of robust sales across domestic and international markets. Sales during the period under review grew by 14 percent to Rs 4,965 crore, as against 4,347 crore in the year-ago period, Apollo Tyres said in a statement.
Procter & Gamble | CMP: Rs 12,268 | The share jumped 8 percent after the FMCG major reported an 84.37 percent increase in net profit to Rs 250.62 crore for the second quarter ended December 2020. The company, which follows July-June financial year, posted a net profit of Rs 135.93 crore in the year-ago quarter, Procter & Gamble said in a regulatory filing. Its revenue from operations surged 18.52 percent to Rs 1,018.44 crore during the period under review.
Future Group stocks plunge | The Future Group stocks remained under pressure after the market regulator Securities and Exchange Board of India (SEBI) barred CEO Kishore Biyani from accessing the securities market for a year. SEBI said Biyani and brother Anil, who was also banned from the market, traded in shares of Future Retail Ltd (FRL) through another unit using unpublished price sensitive information. Future Lifestyle Fashions ended 5 percent lower, while Future Consumer shed 3 percent. Future Enterprises was down over 4 percent at close on February 4.
Zee Entertainment | CMP: Rs 249.55 | The scrip was up 2 percent after the company reported a 14.5 percent YoY jump in its Q3 net profit at Rs 400 crore against Rs 349.4 crore and revenue was up 33.2% at Rs 2,729.3 crore versus Rs 2,048.7 crore.
NTPC | CMP: Rs 99.15 | The stock added 2 percent after the company reported a consolidated net profit of Rs 3,876.36 for the quarter ending December 31 as against Rs 3,351.28 crore for the same quarter last year, an increase of 15.66 percent YoY. The Board of Directors also approved an interim dividend at the rate of Rs 3 per share.
Hindustan Petroleum Corporation | CMP: Rs 229.75 | The stock advanced 2 percent after the state-owned oil refinery company registered a little over three-fold increase in Q3FY21 profit compared to the corresponding period, driven by strong operating performance and doubled other income. Net profit jumped sharply to Rs 2,354.6 crore for the quarter ended December 2020, against Rs 747.2 crore in the year=ago period, missing analysts’ expectations. Revenue from operations declined 2 percent YoY to Rs 68,659.2 crore, compared with Rs 70,042.2 crore in the corresponding period, beating estimates.
Bajaj Electricals | CMP: Rs 769 | The share price gained over 4 percent after the company reported a net profit of Rs 98.7 crore against Rs 9.9 crore (YoY). Revenue was up 16.8 percent at Rs 1,500.1 crore against Rs 1,283.9 crore (YoY). EBITDA was at Rs 147.5 crore against Rs 67.3 crore (YoY).
Sandip Das
