The Nifty Bank index rose 3.3 percent, while the PSU Bank index added over 2.3 percent. The BSE realty index jumped 1.4 percent, while midcap and smallcap indices rose 0.3-1.4 percent.
The Benchmark indices rallied for the third consecutive day, hitting fresh record highs on the back of buying seen in the realty and financial names. At close, the Sensex was up 609.83 points, or 1.18%, at 52,154.13, and the Nifty was up 151.40 points or 1% at 15,314.70.
Motherson Sumi | CMP: Rs 211.25 | The stock jumped over 7 percent after the auto ancillary company reported a strong performance for the December quarter, with earnings beating estimates. On the operational front, consolidated Ebitda rose 60.7 percent to Rs 1,795.5 crore from Rs 1,117.1 crore, while EBITDA margin expanded by 310 bps to 10.5 percent from 7.4 percent, YoY. The Japanese research firm Nomura has maintained a ‘buy’ rating on the stock and has raised the target to Rs 252 per share.
Tata Motors | CMP: Rs 332 | The share price added 2 percent on February 15. The company said that JLR is on the path to double-digit EBIT margin with positive cash flow, while it will curate closer collaboration and knowledge-sharing with Tata group companies. All JLR nameplates to be available in pure electric form by the end of the decade, it added.
Bharti Airtel | CMP: Rs 594.50 | The stock ended in the green after the company said its board will meet on February 17 to discuss strategic plans and reorganisation of the shareholding framework of subsidiary companies. This may lead to consolidation or acquisition of shares of subsidiary companies, “the consideration of which may be discharged through the issuance of equity shares of the company on a preferential basis and/or cash”, the company said in a regulatory filing.
Kalpataru Power | CMP: Rs 369 | The scrip gained over a percent on February 15. The company has posted more than two-fold jump in consolidated net profit to Rs 308 crore for the December quarter compared to the year-ago period, mainly on the back of higher revenues.
Edelweiss Financial Services | CMP: Rs 67.70 | The share price was down more than 4 percent after the company reported a consolidated net loss of Rs 63 crore for the third quarter ended in December 2020. It had registered a net profit of Rs 35.32 crore in the same quarter last year. Sequentially, the loss widened from Rs 56.12 crore in the September quarter.
Amara Raja Batteries | CMP: Rs 928.50 | The stock price shed 6 percent on rising cost pressure. The company’s operating margin was at 15.6 percent, down 200 basis points sequentially. Gross margin deteriorated by 80 bps quarter-on-quarter in December amid increased raw material prices and higher staff costs.
Vodafone Idea | CMP: Rs 12.10 | The stock slipped 3 percent after the company reported a net loss of Rs 4,532 crore for the December quarter against Rs 6,439 crore in the year-ago period, driven by higher 4G wireless customer additions, improved service quality and cost optimisation.
Info Edge | CMP: Rs 5,517.90 | The stock gained over 2 percent after the company reported consolidated profit at Rs 679 crore in Q3FY21 (led by exceptional gain) against a loss of Rs 62.1 crore in Q3FY20, revenue declined to Rs 277.6 crore from Rs 335 crore YoY.
Delta Corp | CMP: Rs 153.15 | The scrip was down more than 3 percent after the company’s revenue fell to Rs 120.82 crore from Rs 205.13 crore YoY. The company reported consolidated profit at Rs 1.28 crore in Q3FY21 against Rs 55.07 crore in Q3FY20.
Deepak Nitrite | CMP: Rs 1,182 | The stock price jumped over 6 percent after the company reported higher consolidated profit at Rs 216.56 crore in Q3FY21 against Rs 156.71 crore in Q3FY20, revenue rose to Rs 1,234.7 crore from Rs 1,119.86 crore YoY.
Sandip Das
