Nifty formed a Doji pattern on the daily charts while forming a small bullish candle on the weekly scale.
On the weekly basis, the Sensex added 812.67 points, or 1.6 percent, to end at 51,544.30, while the Nifty rose 239.05 points, or 1.6 percent, to finish at 15,163.30 levels. The index formed a Doji pattern on the daily charts while forming a small bullish candle on the weekly scale. Bank Nifty formed a bullish candle on the daily scale while there was Doji formation on the weekly scale. Following are the 10 stocks that were in focus in the week gone by:
Motherson Sumi Systems | The stock jumped 26 percent after the company reported a strong performance for the December quarter beating earnings 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. Consolidated revenue from operations grew 13.9 percent year-on-year to Rs 17,092.4 crore in Q 3FY21, backed by robust standalone performance and impressive performance at SMRP BV level.
Adani Enterprises | The share gained 20 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, acquired 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.
TTK Prestige | The scrip was up 21 percent after the kitchen appliances maker reported a 39.26 percent increase in consolidated net profit at Rs 83.84 crore for the third quarter ended December 2020. The company posted a net profit of Rs 60.20 crore in October-December quarter a year ago. Its revenue from operations increased by 23.55 percent to Rs 725.63 crore during the quarter under review, as against Rs 587.27 crore in the year-ago period, TTK Prestige said in a regulatory filing.
ITC | The stock was down 7 percent last week. The company said it has registered an 11.4 percent year-on-year decline in consolidated profit to Rs 3,587.09 crore in the quarter ended December 2020. Consolidated profit in the corresponding period stood at Rs 4,050.4 crore. Consolidated revenue from operations grew by 6.1 percent year-on-year to Rs 14,124.48 crore in Q3 FY21, with cigarette business showing 2.5 percent YoY growth in operating revenue. The company reported revenue from its cigarette business, which contributed 43 percent to total business, at Rs 6,091.17 crore for December quarter 2020, compared with Rs 5,944.86 crore in the corresponding period, the company said in its BSE filing.
Dixon Tech | The share gained 14 percent last week. Its consolidated net profit jumped by 134 percent to Rs 61.59 crore. EBITDA jumped 89 percent to Rs 100.64 crore during the period under review. The company’s board approved a stock split in the ratio 1:5 (one equity share of Rs 10 to be split into five equity shares of face value Rs 2 each).
Muthoot Finance | The share price gained over 12 percent after the gold loan financier reported a 22 percent jump in standalone profit after tax to Rs 991.4 crore for the quarter ended December 2020. The company had posted a profit of Rs 815.2 crore in the year-ago period. Total income grew 20 percent to Rs 2,777 crore from Rs 2,321 crore earlier.
Hindalco Indutries | The stock was up 11 percent after the Aditya Birla group company 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.
Adani Ports | The scrip added 8 percent after the company’s consolidated Q3 net profit jumped 15.4 percent at Rs 1,561.47 crore against Rs 1,352.17 crore in the same quarter last year. Its revenue was up 29 percent at Rs 3,746.49 crore against Rs 2,901.95 crore. Morgan Stanley has an overweight rating with target raised to Rs 733. Goldman Sachs has a buy rating with target raised to Rs 620 per share.
BHEL | The share price was down 11 percent after the state-run engineering firm reported a consolidated net loss of Rs 217.86 crore for the October-December quarter due to lower revenues. The consolidated net profit of the firm was Rs 161.81 crore in the quarter ended on December 31, 2019, a BSE filing stated. The scrip also fell on a media report suggesting that the government may consider BHEL among candidates for the next round of divestment sales.
Sun TV Network | The stock ended lower by 7 percent last week. The company posted a 15.88 percent jump in its December quarter net profit at Rs 445.54 crore against Rs 384.50 crore in Q3 FY20. Its revenue stood at Rs 994.14 crore in December 2020, up 17.26 percent from Rs 847.81 crore in Q3 FY20. UBS has a neutral rating with a target of Rs 505 per share.
Sandip Das
