Among sectors, Nifty pharma index gained 1 percent, while metal index shed 1 percent. Selling was also seen in the auto, bank and infra stocks. BSE Midcap and smallcap indices ended in the green.
Benchmark indices erased some of the previous session gains and ended 0.5 percent lower on May 19 dragged by the metal and financials. At close, the Sensex was down 290.69 points or 0.58% at 49,902.64, and the Nifty was down 77.90 points or 0.52% at 15,030.20.
Tata Motors | CMP: Rs 314.10 | The share price was down over 5 percent after the company on May 18 posted a consolidated loss of Rs 7,605.4 crore for the quarter ended March 2021 despite a sharp growth in revenue though on a low base. The company had reported a consolidated loss of Rs 9,894.25 crore in the year-ago quarter and profit of Rs 2,906.45 crore in the December 2020 quarter. Kotak Institutional Equities has a sell rating with target of Rs 205.
Adani Green Energy | CMP: Rs 1,241.55 | The stock gained over 3 percent after the company said it will acquire the renewable portfolio from SB Energy. Adani Green Energy will acquire 5 GW of renewable power portfolio from SB Energy India for a fully completed enterprise evaluation (EV) of $ 3.5 billion (approx Rs 26,000 crore).
Brigade Enterprises | CMP: Rs 257.80 | The share added over 3 percent after the company posted profit of Rs 19.58 crore on consolidated basis for Q4 of 2020-21 against Rs 11.02 crore loss posted in the same period last year on the back of robust residential sales. The company’s income was higher by 27.39 percent at Rs 820.86 crore. The board of directors recommended a final dividend of Rs 1.20 per equity share (12 percent) of Rs 10 each which is subject to approval of shareholders in the ensuing Annual General Meeting of the Company, the company said in an exchange filing.
Gland Pharma | CMP: Rs 3,298 | The stock jumped over 7 percent on May 19. The company on May 18 reported a 34 percent rise in its consolidated net profit at Rs 260.4 crore for the fourth quarter ended March 2021, on account of robust sales. The company posted a net profit of Rs 194.8 crore for the corresponding period of the previous fiscal, Gland Pharma said in a BSE filing. Motilal Oswal Financial Services has a buy call on the stock with a target price of Rs 3,280.
Indian Oil Corporation | CMP: Rs 107 | The scrip ended in the green after the company declared its Q4 results. Its Q4 net profit rose 78.6 percent to Rs 8,781 crore against Rs 4,916.6 crore. Its revenue was up 16.3 percent at Rs 1.24 crore against Rs 1.06 lakh crore, QoQ. Earnings before interest, tax, depreciation and amortization (EBITDA) was up 40.3 percent at Rs 13,501 crore and margin was at 10.9 percent, reported CNBC-TV18.
Anupam Rasayan India | CMP: Rs 770 | The scrip ended in the green after the company bagged Rs 540 crore order from two leading multinational companies. ” …. has received and signed contracts amounting to Rs 540 crores from two renowned multinational companies dealing in the fields of life sciences chemicals,” the company said in the release.
Happiest Minds Technologies | CMP: Rs 760.25 | The stock added over a percent ending May 19 after the company said it executed a digital transformation project for Coca Cola Bottling Company United for streamlining its order management with RPA in Microsoft Power Automate, the company said in an exchange filing.
Torrent Pharma | CMP: Rs 2,757.85 | The share ended in the green after the company posted 2.9 percent jump in its Q4 net profit at Rs 324 crore against Rs 315 crore and revenue came in at Rs 1,937 crore versus Rs 1,946 crore. Earnings before interest, tax, depreciation and amortization (EBITDA) was up 6.2 percent at Rs 582 crore and margin was at 30 percent. Jefferies, however, has an underperform rating with the target of Rs 2,416 per share.
Chalet Hotels | CMP: Rs 156.60 | The stock price ended in the red after the company reported loss of Rs 25.96 crore in Q4FY21 against profit of Rs 42.77 crore in Q4FY20. Its revenue fell to Rs 97.82 crore from Rs 228.1 crore YoY. The company announced discontinued operations at its Sahar Mumbai Retail Mall and repurposing of same as a commercial office space and consequently termination of the management agreement with Inorbit Malls (India) in respect of the same.
Jindal Stainless (Hisar) | CMP: Rs 183.95 | The scrip added 2 percent after the company reported sharply higher consolidated profit at Rs 350.65 crore in Q4FY21 against Rs 108.35 crore in Q4FY20, revenue rose to Rs 3,102.77 crore from Rs 2,246.07 crore YoY.?
Sandip Das
