All the sectoral indices are trading in the red with auto, IT, capital goods, metal, realty, pharma and FMCG down 1-2 percent. BSE midcap and smallcap indices down 1-2 percent.
Benchmark indices lower with Nifty below 18200 amid selling seen in the final hour of session on January 18. At close, the Sensex was down 554.05 points or 0.90% at 60,754.86, and the Nifty was down 195.10 points or 1.07% at 18,113.
UltraTech Cement | CMP: Rs 7,570 | The share price shed over 3 percent on January 18. The company reported a consolidated profit after tax (PAT) of Rs 1,708 crore for the quarter ended December 2021, up 7.8 percent against Rs 1,584 crore in the year-ago period. PAT during the previous quarter stood at Rs 1,314 crore. Jefferies has retained hold rating with a target at Rs 8,100. Its EBITDA misses on higher cost, while cement price hike is the key to regain lost ground.
Tech Mahindra | CMP: Rs 1,662.50 | The stock price fell over 3 percent after the company board approved acquisition of Com Tech Co IT. Tech Mahindra through its wholly owned subsidiary viz., Tech Mahindra London Limited approved the proposal to acquire 100 percent equity shares in Com Tec Co IT and 25 percent equity shares each in SWFT Technologies Ltd. and Surance Ltd, company said in its press release.
Bajaj Finance | CMP: Rs 7,770 | The share ended in the red on January 18. The firm is expected to report a 17.3 percent year-on-year growth in net interest income for the quarter ended December to Rs. 5,038.7 crore, according to an average of estimates from four brokerages polled by Moneycontrol. The non-bank lender’s profit after tax is likely to rise by 57.5 percent year-on-year to Rs. 1,804.8 crore, helped in large part by strong topline growth in the quarter, according to the Moneycontrol poll.
Tatva Chintan Pharma | CMP: Rs 2,608 | The scrip fell over 9 percent after the firm reported a sequential fall in revenue and operating margins for the December quarter. The firm reported Ebitda margins at 27.26% in the December quarter against 31.31% for the previous period. Ebitda was down 26.87% from a quarter ago to Rs 28.53 crore. Net profit margin fell to 21.79% from 25.64% a quarter ago. Net profit for the quarter stood at Rs 22.81 crore, down 29.62% sequentially while revenue declined 15.33% to Rs 104.67 crore.
Prestige Estates Projects | CMP: Rs 530.05 | The share jumped over 3 percent after the firm reported record quarterly sales for October-December. The group registered sales of Rs 4267.6 crore, up 111 percent year on year, and clocked highest-ever quarterly collections of Rs 2431.6 crore, up 70 percent YoY, Prestige Estates Projects said in its release. Sales in nine months to December stood at record Rs 7113.4 crore and collections at Rs 5,005.4 crore, up 97 and 51 percent YoY, respectively.
Tata Motors | CMP: Rs 510.95 | The stock price was down over 2 percent on January 18. The auto major announced a price hike for passenger vehicles effective January 19 with an average increase of 0.9 percent. There will no impact on price on cars booked on or before January 18, 2022. The company has also taken a price reduction of up to Rs 10,000 on specific variants, reported CNBC-TV18.
Nazara Tech | CMP: Rs 2,393 | The scrip shed over 2 percent as the firm entered an agreement to acquire a 55% stake in programmatic advertising and monetization company Datawrkz valuing the company up to Rs 225 crore (approx. USD 30M) linked to CY 22 EBITDA performance, company said in its release.
Inox Wind | CMP: Rs 124.50 | The stock was down over a percent. The board of directors of Inox Wind on January 18 accorded its approval for the company to participate in offer for sale (OFS) worth Rs 400 crore of its material subsidiary Inox Green Energy Services.
Network 18 Media & Investments | CMP: Rs 89.70 | The stock ended in the red on January 18. The firm posted 16.5 percent jump in its Q3 operating revenue at Rs 1,657.4 crore versus Rs 1,422.5 crore in the same quarter last fiscal. Its operating EBITDA was up 15% at Rs 373.1 crore against Rs 324.5 crore and margin was at 22.5 percent versus 22.8 percent, YoY. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
TV18 Broadcast | CMP: Rs 49.60 | The share ended in the green on January 18. The company’s operating revenue was up 15.1% at Rs 1,567.1 crore against Rs 1,361 crore (YoY). EBITDA was up 10.7% at Rs 355 crore against Rs 320.7 crore (YoY). EBITDA margin at 22.7% against 23.6% (YoY). News business saw sharp improvement in margin to 27.2%; revenue was up 13% YoY. Entertainment business margin at 21.4%; revenue gained 16% YoY. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Sandip Das
