The benchmark indices ended lower for the second consecutive session on May 20 as metal stocks dragged the Nifty below 15,000. At close, the Sensex was down 337.78 points, or 0.68 percent, at 49,564.86, and the Nifty was down 124.20 points, or 0.83 percent, at 14,906.
Shakti Pumps (India) | CMP: Rs 703 | The share price jumped over 13 percent after the company reported a quarterly net profit of Rs 23.25 crore in March 2021, up 462.91 percent from Rs 6.41 crore in March 2020. Its net sales came in at Rs 308.24 crore, up 280.19 percent from Rs 81.08 crore in the year-ago period. The company’s EBITDA was at Rs. 41.91 crore in March 2021 from Rs 2.80 crore in March 2020. The board of directors recommended a dividend of Rs 8 per equity shares of face value of Rs 10 (i.e. 80 percent) for the year ended March 31, 2021, subject to the approval of shareholders in the annual general meeting, the company said in an exchange filing.
Indian Oil Corporation | CMP: Rs 104.75 | The stock shed over 2 percent a day after the state-run oil marketing company reported standalone profit at Rs 8,781.3 crore in the March quarter, rising 78.6 percent from Rs 4,916.59 crore in the previous quarter. Morgan Stanley has an overweight rating with the target at Rs 139, while Jefferies has a hold rating with the target at Rs 100.
JK Tyre & Industries | CMP: Rs 125.60 | The scrip ended in the green after the tyremaker reported a quarterly net profit of Rs. 137.18 crore in March 2021, up 1787.33 percent from Rs 8.13 crore in the year-ago period. Its net sales came in at Rs 2,022.82 crore in March 2021, 49.68 percent higher from Rs 1,351.42 crore in March 2020. The board has recommended a dividend of Rs 2 per equity share of Rs 2 each (100 percent) for the financial year ended March 31, 2021.
Cipla | CMP: Rs 925.50 | The share added 2 percent after the company launched ViraGen a polymerase chain reaction (Covid-19 RT-PCR) test. ” …. today announced the commercialisation of a polymerase chain reaction (RT-PCR) test kit ‘ViraGen’ for COVID-19 in India, in partnership with Ubio Biotechnology Systems Pvt. Ltd,” the company said in its release. ViraGen is Cipla’s third offering in the COVID-19 testing segment.
HPL Electric & Power | CMP: Rs 51.75 | The stock price jumped 5 percent after the company bagged two orders worth over Rs 372 crore. ” …. has bagged two orders worth over Rs 372 crore for its switchgear, wires and other related accessories for housing projects in the state of Andhra Pradesh,” the company said in the release. The company’s order book now stands over at Rs 700 crore.
Relaxo Footwears | CMP: Rs 1,015 | The share price ended in the green after the company posted a 97.2 percent jump in its Q4 net profit at Rs 102.2 crore against Rs 51.8 crore in the year-ago quarter. Its revenue was up 38.3 percent at Rs 747.7 crore against Rs 540.6 crore, YoY.
Unichem Laboratories | CMP: Rs 359.90 | The stock jumped over 8 percent after the company received ANDA approval for its Amitriptyline HCl Tablets USP, 10 mg, 25 mg, 50 mg, 75 mg, 100 mg and 150 mg from USFDA to market a generic version of ELAVIL (Amitriptyline Hydrochloride) 10 mg, 25 mg, 50 mg, 75 mg, 100 mg and 150 mg of AstraZeneca Pharmaceuticals LP.
Bosch | CMP: Rs 15,845 | The scrip gained over 7 percent after the company reported net profit at Rs 483 crore in March quarter against Rs 81.1 crore in the year-ago period. Its revenue was up 44 percent at Rs 3,216 crore against Rs 2,237 crore, YoY.
Tata Steel | CMP: Rs 1,104.90 | The share price was down over 5 percent on May 20. Fitch Ratings has upgraded India’s Tata Steel Limited’s (TSL) Issuer Default Rating (IDR) to ‘BB’, from ‘BB-‘. The outlook is stable. The agency has also upgraded the rating on the USD 1 billion notes due July 2024, issued by TSL’s subsidiary, ABJA Investment Co. Pte. Ltd., and guaranteed by TSL, to ‘BB’, from ‘BB-‘, and has assigned a Recovery Rating of ‘RR4’.
Endurance Technologies | CMP: Rs 1,395.95 | The stock added over 2 percent after the company reported a consolidated profit of Rs 187.4 crore in Q4FY21 against Rs 106.8 crore in Q4FY20, revenue rose to Rs 2,132.9 crore from Rs 1,596.75 crore YoY.