Except auto and PSU banks, other sectoral indices ended in the green. BSE midcap and smallcap indices rose 0.4-1 percent.
The benchmark indices ended higher on February 11 after witnessing consolidation in the previous two sessions. The Sensex closed 222.13 points or 0.43% higher at 51,531.52, and the Nifty was up 66.80 points or 0.44% at 15,173.30.
Coal India | CMP: Rs 136.85 | The share price shed over a percent after the company posted a 21.4 percent fall in its December quarter consolidated net profit at Rs 3,085.4 crore versus Rs 3,924 crore in the same quarter last year. Its revenue was up 2.1% at Rs 23,686 crore versus Rs 23,190.5 crore. Earnings before interest, tax, depreciation and amortization (EBITDA) were up 4 percent at Rs 5,165 crore versus Rs 4,968.4 crore and the margin was at 21.8% versus 21.4%.
Magma Fincorp | CMP: Rs 93.55 | The share jumped 10 percent news that Adar Poonawalla-backed firm will acquire a majority stake in the company. Rising Sun Holdings, a company controlled in personal capacity by the Serum Institute of India CEO, announced a transaction on February 10 to acquire a controlling stake in Magma Fincorp (MFL), a non-banking financial company (NBFC).
Hindalco Industries | CMP: Rs 294.80 | The scrip gained over 5 percent after the Aditya Birla group company on February 10 reported a 76.2 percent YoY jump in December quarter standalone net profit to Rs 340 crore. In the corresponding quarter of the previous financial year, the profit was Rs 193 crore. Standalone revenue in Q3 FY21 stood at Rs 11,351 crore, up 11 percent YoY from Rs 10,230 crore. Global research firm JP Morgan has maintained the ‘overweight’ call on the stock, with the target at Rs 335 per share.
Titan Company | CMP: Rs 1,524.90 | The stock shed 2 percent a day after the Tata group company reported a 10.9 percent year-on-year decline in standalone profit at Rs 419 crore for the December quarter, dented by impairment provision for FLAG investments. Standalone revenue grew by 17.4 percent year-on-year to Rs 7,287 crore in Q3FY21, including the sale of gold bullion to the extent of Rs 340 crore. Credit Suisse has kept a neutral call and raised the target to Rs 1,650 per share.
Infibeam Avenues | CMP: Rs 91.70 | The stock jumped 10 percent after the company board approved issuing one bonus share for every one equity share to equity shareholders as on “record date”. The company will intimate the “record date” for determining eligible shareholders entitled to receive bonus shares in due course.
Power Grid | CMP: Rs 214.30 | The stock ended in the green on February 11. Brokerages expect a tepid growth in sales, profit and margin in the December quarter due to the weak performance of telecom and consultancy business. Along with the numbers, watchers will try to get cues on progress on capitalisation, InvIT of assets and the outlook on new awards, brokerages said.
HCL Infosystems | CMP: Rs 8.90 | The scrip shed 3 percent after the company reported a loss of Rs 34.32 crore for the quarter ended December 2020. The company had posted a consolidated net profit of Rs 14.5 crore in the year-ago period. The company’s Board of Directors has also approved the sale of its wholly-owned subsidiary HCL Infotech Ltd to Novezo Consulting.
Happiest Minds | CMP: Rs 373.90 | The stock gained 5 percent after the IT services firm posted a 97 percent YoY increase in net profit to Rs 42.15 crore for the quarter ended December 31. Its revenue grew 14.6 percent to Rs 201.29 crore during the same period.
Greenply Industries | CMP: Rs 137.40 | The stock added 3 percent after consolidated net profit was up 17.2 percent at Rs 25 crore against Rs 21.3 crore (YoY). Consolidated revenue was down 1.6 percent at Rs 340.4 crore against Rs 346 crore (YoY).
Bata India | CMP: Rs 1,528 | The stock shed 2 percent after the shoe-maker reported Q3 results on February 10 wherein the net profit went down 77.7 percent at Rs 26.4 crore against Rs 118.2 crore (YoY). Its revenue was down 25.9 percent at Rs 615.6 crore against Rs 830.8 crore (YoY).
Sandip Das
