Except bank and IT, all other sectoral indices ended in the red, with metal, pharma, FMCG and energy losing a percent each. BSE midcap and smallcap indices ended flat.
On a highly volatile day, the benchmark indices ended flat as selling seen in the metal, pharma and FMCG stocks. At close, the Sensex was up 12.78 points or 0.02% at 51,544.30 and the Nifty was down 10 points or 0.07% at 15,163.30.
Motherson Sumi Systems | CMP: Rs 198 | The share price jumped 10 percent after the company reported a strong performance for the December quarter, with earnings beating estimates. The company’s consolidated profit jumped nearly four-fold to Rs 1,268.3 crore for the quarter, compared to Rs 340 crore in the year-ago period, driven by strong operating performance in all segments.
Airline stocks gain| Share price of SpiceJet gained over 2 percent and that of Interglobe Aviation, which operates IndiGo, ended in the green on February 12, a day after the Directorate General of Civil Aviation (DGCA) allowed airlines to charge 10-30 percent more for domestic flights. DGCA has increased the minimum fare on all seven sectors by 10-12 percent and raised the limit on maximum fare by around 30 percent. The seven sectors have been classified on the basis of the duration of flights, a CNBC-TV18 report said.
Ashok Leyland | CMP: Rs 128.10 | The stock was down 5 percent after the commercial vehicle manufacturer reported a quarterly net loss at Rs 19.38 crore in December 2020, down 169.84 percent from Rs 27.75 crore profit in the year-ago period. Net sales were at Rs 4,813.51 crore in December 2020, up 19.87 percent from Rs. 4,015.65 crore in December 2019.
Sun Pharma | CMP: Rs 628.20 | The stock ended with a 2 percent loss after the Securities and Exchange Board of India (SEBI) issued an order for settling charges made by a whistleblower. SEBI on February 11 had directed Sun Pharmaceutical Laboratories Ltd founder and Managing Director Dilip Shanghvi to pay Rs 62.35 lakh towards settling the charges by a whistleblower that the drug manufacturer had diverted funds through related-party transactions.
ITC | CMP: Rs 217.70 | The stock price was down over 3 percent after the company said it registered a 11.4 percent year-on-year decline in consolidated profit at Rs 3,587.09 crore in the quarter ended December 2020. Consolidated profit in the year-ago period stood at Rs 4,050.4 crore. Citi has maintained ‘neutral’ call on the stock with the target at Rs 215.
Bharat Forge | CMP: Rs 642.50 | The share price ended in the red after the company reported consolidated net loss at Rs 210.4 crore. One-time net loss at Rs 299.4 crore was against a loss of Rs 27.6 crore in the year-ago quarter. Consolidated revenue was at Rs 1,723.1 crore against CNBC-TV18 Poll of Rs 1,371 crore.
Voltas | CMP: Rs 1,080.15 | The stock was down 2 percent on February 12 even though the company’s net profit was up 46.6 percent at Rs 129 crore against Rs 88 crore (YoY). Revenue gained 33.6 percent at Rs 1,994.6 crore against Rs 1,492.5 crore (YoY). EBITDA was up 49.6 percent at Rs 145.9 crore against Rs 97.5 crore (YoY). The margin stood at 7.3 percent against 6.5 percent (YoY).
Finolex Cables | CMP: Rs 389.95 | The share price jumped 4 percent after the company’s consolidated net profit rose 43.1 percent at Rs 147 crore against Rs 102.7 crore in the December quarter. Its revenue was up 18.2 percent at Rs 830.2 crore against Rs 702.4 crore.
Bayer CropScience | CMP: Rs 5,186 | The scrip shed over 6 percent after the firm reported a 34.18 percent decline in profit before exceptional items and tax (PBT) to Rs 106.1 crore for the quarter ended December 2020. The revenue from operations grew by 7.51 percent to Rs 918.2 crore compared to Rs 854 crore in the year-ago period.
Strides Pharma | CMP: Rs 885 | The stock gained 2 percent after the company said its subsidiary, Strides Pharma Global Pte Ltd, received approval from the US health regulator for Prednisone tablets, prescribed for a variety of conditions, including allergies, respiratory illness and arthritis.
Sandip Das
