Except auto, metal, pharma and PSU bank, all sectoral indices ended in the red. BSE smallcap and Midcap indices shed 0.45-1.4 percent
The benchmark indices snapped a three-day losing streak to end higher in a volatile session ahead of the RBI policy outcome later this week. At close, the Sensex was up 187.39 points or 0.33% at 57,808.58, and the Nifty was up 53.20 points or 0.31% at 17,266.80.
TVS Motor Company | CMP: Rs 654 | The share price added over 2 percent on February 8. The company has reported a near 9 percent on-year rise in net profit at Rs 288.8 crore for the quarter ended December, which was above analysts’ estimate of Rs 246.7 crore. The two-wheeler maker reported a 5.8 percent year-on-year increase in revenues to Rs 5,706.4 crore, which was also above Street’s estimate of Rs 5,488 crore. CLSA has upgraded the stock to ‘outperform’ from ‘underperform’ and raised the target price to Rs 711 from Rs 656. Jefferies has a ‘buy’ call with the target at Rs 800. UBS, too, kept a ‘buy’ call with the target at Rs 1,000 after an all-round beat in Q3.
Godrej Consumer Products | CMP: Rs 875.50 | The stock ended in the red after the FMCG firm reported its Q3 earnings. Net profit was up 5.1% at Rs 527.6 crore against Rs 502.1 crore (YoY). Revenue rose 8.1% at Rs 3,302.6 crore against Rs 3,055.4 crore (YoY). EBITDA was down 3.7% at Rs 668 crore against Rs 693.5 crore (YoY), while EBITDA margin came in at 20.2% against 22.7%.
PI Industries | CMP: Rs 2,653 | The share added almost 2 percent after global research firm Credit Suisse’s “outperform” call on the stock. It also raised the target to Rs 3,000 a share, an upside of 13 percent from the current market price. For the quarter ended December 2021, the agri-sciences company reported a profit after tax of Rs 222.60, up 13.92 percent from Rs 195.40 crore in the year-ago period.
PB Fintech | CMP: Rs 882.50 | The scrip ended in the red on February 8. Shares of PB Fintech, the parent company of PolicyBazaar, fell after its December quarter earnings disappointed investors. The online insurance aggregator reported a consolidated net loss of Rs 298 crore for the quarter ended December as against Rs 195.9 crore in the year-ago quarter. However, growth in the quarter was stellar as consolidated revenue from operations jumped 73 percent year-on-year to Rs 367 crore. PB Fintech said insurance premiums grew 68 percent on-year to Rs 1,796 crore, while lending disbursals spiked 94 percent on-year in the reported quarter.
Wockhardt | CMP: Rs 394.60 | The stock ended in the green after the company received the nod from the Drugs Controller General of India to export up to 100 million doses of Sputnik vaccines. Wockhardt has received permission to export up to 80 million doses of Sputnik Light and up to 20 million doses of Sputnik V Component I vaccine, the company said in a press release.
Sandip Das
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