Among sectors, the Nifty metal index added over a percent, while the Nifty Bank index rose 2 percent. BSE midcap and smallcap indices ended in the green.
The market recovered smartly from the day’s low and ended higher on April 22, with the Nifty closing above 1,4400 supported by the metal and financial names. The Sensex ended 374.87 points, or 0.79%, higher at 48080.67 and the Nifty was up 109.80 points, or 0.77%, at 14,406.20. Among sectors, the Nifty metal index added over a percent and the Nifty Bank index 2 percent. BSE midcap and smallcap indices ended in the green.
Indiabulls Housing Finance | CMP: Rs 175.90 | The share price jumped over 6 percent after the company tied up with HDFC for a co-lending partnership. “Indiabulls Housing Finance Limited has entered into a strategic co-lending partnership with HDFC Ltd to offer housing loans to homebuyers at competitive rates,” the company said in an exchange filing. Indiabulls Housing will originate retail home loans as per jointly drawn up credit policy and retain 20 percent of the loan in its books and 80 percent will be on HDFC books. It will service the loan account throughout the life cycle of the loan. The co-lending partnership with HDFC Ltd will act as a cornerstone to IBH’s new balance-sheet light growth business model, the company added.
Network18, TV18 Broadcast | The share price of Network 18 jumped over 11 percent and clsoed at Rs 42.95 per share on NSE on April 22 after the company reported strong earnings growth in the March quarter as well as FY21. Network18 Media reported a more than nine-fold jump in net profit to Rs 547 crore for the financial year 2021, boosted by expanding margins in the television news business and the digital news segment breaking even. The share price of TV 18 Broadcast, the television subsidiary of Network18, surged 20 percent and closed at Rs 33.05 on NSE after it reported a consolidated EBITDA of Rs 808 crore for FY21, up 15 percent. The company also reported its highest-ever EBITDA margins of 18 percent, thanks to cost controls. Disclaimer: Network18 is the parent company of TV18 Broadcast and Network18 Digital that publishes Moneycontrol.
Caplin Point Labs | CMP: Rs 518.30 | The stock added 2 percent after a subsidiary of the company received the nod from the United States Food and Drug Administration (US FDA) for Neostigmine Methylsulfate Injection. “Caplin Steriles, a subsidiary company of Caplin Point Laboratories, has been granted final approval from the US FDA for its Abbreviated New Drug Application (ANDA) Neostigmine Methylsulfate Injection USP, 5 mg/10 mL (0.5 mg/mL) and 10 mg/10 mL (1 mg/mL), Multiple-Dose vial presentations,” the company said in a statement to the exchanges.
Vaishali Pharma | The scrip gained over 4 percent after the company received an order worth $ 2,70,000. “… has received an order worth 270,000 US dollars from Afghanistan for the supply of API, packaging material like capsule, glass vial, rubber stopper, flipoff seal, sterile water for injection etc, and specific machinery setup such as tablets manufacturing machines,” the company said in a release.
Nestle India | CMP: Rs 16,789.90 | The share ended in the red on April 22. The company has reported a 14.6 percent YoY growth in the first-quarter profit at Rs 602.25 crore, backed by double-digit volume growth and better-than-expected operating performance. Credit Suisse has a neutral rating with the target at Rs 18,350. It maintains a “neutral” rating due to stretched valuations, while there is limited room for a positive surprise, given rising input costs. It has cut CY21-23 earnings by 2 percent. Macquarie also has a neutral rating with the target at Rs 18,200 per share.
Filatex India | The scrip ended in the green after the company reported net profit at Rs 118.4 crore against Rs 21 crore (YoY). Revenue jumped 31 percent at Rs 853 crore against Rs 667.3 crore (YoY). EBITDA was at Rs 188.7 crore against Rs 62.2 crore (YoY). EBITDA margin at 22.1 percent against 9.3 percent (YoY).
ICICI Securities | CMP: Rs 451 | The stock price jumped over 6 percent after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021. The company reported an over two-fold increase in PAT to Rs 329 crore for the three months ended March 2021, on account of growth in revenue and improvement in margins.
Swaraj Engines | CMP: Rs 1,445 | The stock gained over 5 percent after the company reported sharply higher profit at Rs 32.6 crore in Q4FY21 against Rs 15.8 crore in Q4FY20, revenue jumped to Rs 304.9 crore from Rs 175.1 crore YoY.
Salasar Techno | CMP: Rs 455.90 | The share was up 2 percent after the company received new orders worth Rs 27.45 crore and Rs 20.25 crore from Rajasthan Rajya Vidyut Prasaran Nigam. The orders are for the construction of 220KV and 132 KV transmission lines, including supply of all equipment/materials, erection, testing and commissioning on supply & ETC basis.
Larsen & Toubro | CMP: Rs 1,339.50 | The stock ended in the green on April 22. The company said its construction arm bagged up to Rs 2,500 crore order from Oilfields Supply Company Saudi to design and build an oil and gas supply base. The company did not provide the value of the contracts but said the orders fall under the “significant” category, which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classification of contracts.
Sandip Das
