Benchmark indices snapped its three-day winning streak and ended flat in a highly volatile session on February 16
Benchmark indices snapped its three-day winning streak and ended flat in a highly volatile session on February 16. BSE Sensex was down 49.96 points or 0.10 percent at 52,104.17, and the Nifty was down 1.20 points or 0.01 percent at 15,313.50. Here ae 10 stocks that were in focus today:
NMDC | CMP: Rs 115.50 | Shares of NMDC jumped 3 percent after global brokerage firm Credit Suisse initiated coverage on the stock with an outperform call for a target price of Rs 162. Credit Suisse believes the company will maintain elevated EBITDA in the coming years. Indian ore supply will remain tight and global ore price will remain at $ 100/t+ until FY23. The global brokerage firm is of the view that the unlocking of Rs 16,000 crore capital work-in-progress could add further value.
ONGC | CMP: Rs 103.75 | Oil and Natural Gas Corporation (ONGC) rose 5 percent after the global brokerage firm CLSA upgraded stock to ‘outperform’ from ‘sell’ and raised the target price to Rs 105 from Rs 90. CLSA has raised the company’s FY21 EPS by Rs 10-185 on stronger crude in Q4 & FY22-23. It said ONGC’s standalone Q3 EBITDA was 13 percent ahead of its estimates and expect the formula-based domestic gas price to settle higher.
SIS | CMP: Rs 433.70 | Shares of Security Intelligence Services (SIS) jumped 2 percent, a day after the company announced a share buyback plan of Rs 100 crore. The private security firm, as per a February 15 BSE filing, will buy back a total of 18,18,181 shares at a price of Rs 550 apiece. The shares being bought represent 1.23 percent of the total number of fully paid-up equity shares.
PSU Banks | Shares of Bank of Maharashtra, Bank of India, Indian Overseas Bank and Central Bank of India gained 20 percent each on February 16 on reports of privatisation of these banks. The government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, three government sources said.
AstraZeneca Pharma | CMP: Rs 3,768.85 | Share price added nearly 4 percent a day after World Health Organization’s (WHO) gave emergency use approval to AstraZeneca’s COVID-19 vaccines on February 15, allowing distribution to some of the world’s poorest countries.
RPP Infra Projects | CMP: Rs 70.85 | Share price gained more than 4 percent on February 16 after the company won new orders worth Rs 157.87 crore. The company now expects to have an order book of Rs 2,000 crore by the end of FY21.
Info Edge | CMP: Rs 5,095.20 | Shares of Info Edge (Naukri) shed 7 percent even as global brokerage firm CLSA maintained ‘outperform’ call on the stock and raised the target price to Rs 5,740 from Rs 3,580. “We raise the target to factor in an improved long-term growth outlook. Target was also raised due to higher valuation for its stake in Zomato & Policybazaar,” CLSA said.
Varun Beverages | CMP: Rs 901.60 | Share price declined 4.5 percent after the company posted a net loss of Rs 7.2 crore in the quarter ended December 2020. It had reported a loss of Rs 54 crore in the same quarter last year. Its revenue was up 9 percent at Rs 1,351.3 crore versus Rs 1,239.5 crore in the yea-ago. Earnings before, interest, tax, depreciation and amortisation (EBITDA) rose 48.8 percent to Rs 172.7 crore versus Rs 115.8 crore in Q3 FY20, while margin was at 12.8 percent versus 9.3 percent. The company’s other income was at Rs 5.6 crore versus Rs 36 crore.
R Systems International | CMP: Rs 119.45 | Share price of R Systems International fell over 4 percent despite the company reporting a 8.3 percent jump in its December quarter numbers. Its Q3 net profit was up at Rs 29.4 crore against Rs 27.1 crore and revenue was up 5.5% at Rs 236.6 crore versus Rs 224.3 crore.
Jet Airways | CMP: Rs 105 | The company’s shares declined 5 percent after reporting a standalone loss of Rs 2,841.45 crore. Its total income stood at Rs 354.2 crore for the year ended March 2020.
Rakesh Patil
