Except FMCG and PSU Bank, other sectoral indices ended in the green with Nifty auto and metal indices jumped 3 percent each.
The benchmark indices ended higher for the sixth consecutive day on February 8, hitting fresh record highs supported by the auto, metal, infra and IT stocks. At close, the Sensex was up 617.14 points, or 1.22%, at 51,348.77 and the Nifty was up 191.50 points, or 1.28%, at 15,115.80.
Mahindra & Mahindra | CMP: 929.20 | The stock jumped over 7 percent after the auto major reported a massive 39.6 percent year-on-year growth in profit at Rs 530 crore for the quarter ended December 2020. Revenue from operations grew by 16 percent year-on-year to Rs 14,056.5 crore in Q3 FY21 with strong tractor volumes. Goldman Sachs has maintained a ‘buy’ rating on the stock with a target of Rs 1,029, while Nomura has also retained ‘buy’ with a target of Rs 1165 per share.
Britannia Industries | CMP: Rs 3,476.70 | The stock ended in the red on February 8. The bakery products and biscuit maker registered better-than-expected 22.4 percent year-on-year growth in consolidated profit for the quarter ended December 2020. Credit Suisse has kept a ‘neutral’ rating with the target at Rs 3,620 per share. Morgan Stanley remains overweight with a target at Rs 4,287 per share.
Adani Enterprises | CMP: Rs 629.40 | The share price gained over 5 percent after the company’s arm Adani Airports acquired a stake in Mumbai International Airport. Adani Airport Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises, has acquired a 23.5 percent stake in Mumbai International Airport (MIAL) from ACSA Global (ACSA) and Bid Services Division (Mauritius), or Bidvest, for Rs 1,685.25 crore, the company informed exchanges on February 7. The acquisition allows Adani Group to convert the acquired debt to equity of GVKADL on mutually agreed terms, subject to obtaining necessary regulatory approvals.
Godrej Consumer Products | CMP: Rs 733.20 | The scrip shed over 2 percent on February 8. The company’s net profit rose 12.8 percent YoY at Rs 502.1 crore against Rs 445.2 crore. Its revenue was up 10 percent at Rs 3,055.4 crore against Rs 2,778 crore.
Aban Offshore | CMP: Rs 30.95 | The stock jumped over 7 percent after the company cut down its consolidated net loss at Rs 281.5 crore against a loss of Rs 416.2 crore. Its revenue was down 29.7 percent at Rs 214.4 crore against Rs 305 crore, reported CNBC-TV18. EBITDA was up 26.8 percent at Rs 47.3 crore against Rs 37.3 crore and margin was at 22.1 percent against 12.2 percent.
BEML | CMP: Rs 973.20 | The share price added 3 percent after the company signed a memorandum of understanding (MoU) with 11 entities to explore & enhance business in defence & aerosapce. A meeting of the board of directors of the company will be held on February 10 to consider and approve the un-audited financial results for the third quarter and nine months ended December 12, 2020 and to consider the interim dividend for the FY 2020-21 on equity shares, if any.
Narayana Hrudayalaya | CMP: Rs 489.25 | The stock shed over 3 percent after revenue of the company for Q3 fell to Rs 750.3 crore from Rs 785.2 crore YoY. It, however, reported a consolidated profit of Rs 40.8 crore in Q3 FY21 against Rs 31.4 crore in Q3 FY20.
Equitas Holdings | CMP: Rs 89.05 | The scrip jumped over 6 percent after the company reported a consolidated profit of Rs 251.45 crore in Q3FY21 against Rs 79.3 crore in Q3FY20, revenue rose to Rs 1,133.23 crore from Rs 737.8 crore YoY.
Ashoka Buildcon | CMP: Rs 106.15 | The stock added 2 percent after the company reported a consolidated profit of Rs 88.4 crore in Q3 FY21 against Rs 32.4 crore in Q 3FY20, while revenue increased to Rs 1,305.5 crore from Rs 1,280.4 crore YoY.
GlaxoSmithKline Pharmaceuticals | CMP: Rs 1,460 | The share price gained over 2 percent after the company reported a consolidated profit of Rs 156.5 crore in Q3 FY21 against a loss of Rs 661.16 crore in Q3 FY20, revenue rose to Rs 857.20 crore from Rs 778.6 crore YoY.
Sandip Das
