The benchmark indices rose to new highs in the opening trade but slipped later, ending a seven-day winning run. The Sensex closed 49.54 points lower at 61,716.05 and the Nifty was down 58.20 points at 18,418.80
The Indian market snapped its seven-day winning run to end lower on October 19. At close, the Sensex was down 49.54 points, or 0.08%, at 61,716.05, and the Nifty was down 58.20 points, or 0.31%, at 18,418.80.
ITC | CMP: Rs 246.10 | The stock fell over 6 percent after the Ministry for Health and Family Welfare set up an expert panel to review the taxation policy for tobacco products. The panel will develop a proposal for a comprehensive tax policy for tobacco products with a public health perspective, the ministry said.
Hindustan Unilever | CMP: Rs 2,557.30 | The stock price ended lower by over 3 percent on October 19 after the FMCG major reported an 8.9 percent year-on-year growth in standalone profit at Rs 2,187 crore for the quarter ended September 2021.
HeidelbergCement | CMP: Rs 248.85 | The scrip shed over 3 percent after the company’s net profit for the September quarter was 4.5% lower at Rs 59.6 crore from Rs 62.4 crore (YoY). Its revenue was up 12.2% at Rs 576.5 crore against Rs 513.8 crore(YoY). EBITDA was down 7.5% at Rs 116.5 crore against Rs 126 crore (YoY), while the EBITDA margin stood at 20.2% against 24.5% (YoY). EBITDA per tonne slipped 16.8% at Rs 946 against Rs 1,137.
Indian Energy Exchange | CMP: Rs 845.20 | The share added over 6 percent as the company is to consider a proposal for a bonus issue. A meeting of the board of directors of Indian Energy Exchange will be held on October 21, 2021 to take on record and approve un-audited financial results (standalone and consolidated) for the quarter and the half year ended September 30, 2021.
TTK Prestige | CMP: Rs 9,930 | The scrip jumped over 12 percent as the company’s board is to discuss a sub-division of shares. TTK Prestige has said a board meeting is to be held on October 27 to consider sub-division/split of equity shares of face value of Rs 10 each of the company. The board will also consider unaudited financial results for the quarter and the half year ended September 30 in the meeting.
Inox Wind | CMP: Rs 114 | The share tumbled over 11 percent on October 19. The firm entered into a share purchase agreement with its subsidiary, Inox Wind Infrastructure Services (IWISL), to acquire the entire share capital of Resco Global Wind Services, a step-down subsidiary company.
Larsen & Toubro Infotech | CMP: Rs 6,900 | The scrip surged over 16 percent after the company’s Q2FY22 profit rose 11.1% to Rs 551.7 crore from Rs 496.8 crore in the previous quarter. Its rupee revenue was up 8.8% at Rs 3,767 crore versus Rs 3,462.5 crore, QoQ.
UltraTech Cement | CMP: Rs 7,187 | The stock shed over 2 percent on October 19. The cement maker reported a consolidated profit after tax (PAT) of Rs 1,313.53 crore for the September quarter, which was 23 percent lower from Rs 1,702.63 crore in the previous quarter on account of higher costs. Citi has kept a “buy” rating with the target at Rs 8,500 and tweaked FY22-23 EBITDA by 3 percent/-1 percent, incorporating higher realisations and costs.
Network18 Media & Investments | CMP: Rs 78.30 | The share shed over 6 percent on October 19. The company posted a net profit of Rs 39 crore in the quarter ended September 2021 against a loss of Rs 9.5 crore in the same quarter last fiscal. Its revenue was up 30.8% at Rs 1,387.2 crore versus Rs 1,061 crore. Earnings before interest, tax, depreciation and amortization rose 52.4% at Rs 252.3 crore and the margin was at 18.2 percent. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Sonata Software | CMP: Rs 984.90 | The share jumped over 6 percent after the company posted a 5 percent jump in its Q2FY22 consolidated net profit at Rs 91.2 crore versus Rs 86.7 crore and revenue was down 24.1% at Rs 963.2 crore versus Rs 1,268.5 crore, QoQ.
Sandip Das
