Among the sectors, the FMCG index ended in the green, while selling was seen in PSU banks, IT and metal names. Midcap and smallcap indices shed 2 percent each
India’s equity benchmarks ended in the red but off the day’s low. The Sensex was down 427.44 points, or 0.72%, at 59037.18, and the Nifty shed 139.80 points, or 0.79%, at 17,617.20.
HDFC Life Insurance | CMP: Rs 643.25 | The stock ended in the red on January 21. The firm reported a 3.3 percent year-on-year growth in profit after tax at Rs 273.7 crore for the quarter ended December 31. The life insurer’s net premium income rose 27.8 percent on-year to Rs 12,124 crore in the reported quarter.
Hindustan Unilever | CMP: Rs 2,330 | The share price jumped 3 percent after the FMCG major reported a 16.8 percent on-year rise in net profit at Rs 2,243 crore for the quarter ended December 2021 in line with analysts’ expectations of Rs 2,242.7 crore. The soap-to-shampoo conglomerate saw its revenue from operations grow 10.4 percent on-year to Rs 13,092 crore for the reported quarter, which was a tad above the street’s estimate of Rs 12,995 crore. Credit Suisse maintained “outperform” call with a target at Rs 2,800. Jefferies has kept a “buy” call on the stock, with the target at Rs 2,900 a share.
Asian Paints | CMP: Rs 3,278 | The scrip ended in the red on January 21. Asian Paints reported, a day after it consolidated profit after tax (PAT) of Rs 1,016 crore for the quarter ended December 2021, down 18 percent from Rs 1,238 crore in the year-ago quarter. It was, however, 70 percent higher from Rs 596 crore in the previous quarter. Nomura has maintained a “buy” call and raised the target to Rs 3,875 from Rs 3,550. Credit Suisse has kept the “outperform” call and raised the target price to Rs 3,700 from Rs 3,500.
Persistent Systems | CMP: Rs 4,300 | The stock ended in the green after the company posted a 45.87 percent jump in its net profit at Rs 176.39 crore for the quarter ended last December as against Rs 120.92 crore in the year-ago period. The Q3FY21 consolidated revenue was up 38.71 percent at Rs 1,491.71 crore against Rs 1,075.39 crore, YoY.
PVR | CMP: Rs 1,536 | The share price ended in the red after the company reported December quarter (Q3FY22) net loss at Rs 21.9 crore against loss of Rs 136.7 crore in the same quarter last year. Revenue of the company was at Rs 642.3 crore versus Rs 63.4 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) was at Rs 66.2 crore against EBITDA loss of Rs 108.8 crore and margin was at 10.3%.
Sandip Das
