Benchmark indices snapped three-day gaining momentum and ended lower on February 11 with the Nifty below 17,400. At close, the Sensex was down 773.11 points or 1.31 percent at 58,152.92, and the Nifty was down 231 points or 1.31 percent at 17,374.80.
Zomato | CMP: Rs 88.80 | The scrip tumbled 6 percent even after the company minimised its losses for the quarter ended December 2021. The firm posted a consolidated loss of Rs 63.2 crore for the quarter ended December (Q3FY22). It had reported a loss of Rs 352.6 crore in the year-ago period. Revenue from the operations came in at Rs 1,112 crore, up 82.7 percent against Rs 609.4 crore logged in a year back. Morgan Stanley has kept the ‘overweight’ rating on the stock with a target price of Rs 150.
PB Fintech | CMP: Rs 776.15 | The stock price declined over 10 percent after reports of stake sale by the founder. Shares of PB Fintech Ltd went into a tailspin after the huge block deal, which saw around 64.7 lakh shares changing hands in bunched trade, CNBC-TV18 reported. Details of buyers and sellers were not available. The block deal involved around 1.4 percent stake worth Rs 534 crore at an average of Rs 822 a share, the report added.
India Cements | CMP: Rs 209.55 | The share price was down 6 percent after the cement maker reported its December quarter earnings wherein net profit went down 94.5 percent at Rs 3.3 crore against Rs 62 crore (YoY). Revenue fell 4.5 percent at Rs 1,108 crore against Rs 1,160 crore (YoY). EBITDA slipped 51.6 percent at Rs 105 crore against Rs 215.2 crore (YoY). EBITDA margin at 9.4 percent against 18.5 percent (YoY).
Motherson Sumi Systems | CMP: Rs 172.40 | The stock fell over 4 percent after the company reported a 69.3 percent year-on-year decline in consolidated net profit to Rs 245.1 crore, which was above analysts’ expectations of Rs 191 crore. The auto ancillary company reported a 5.7 percent on-year decline in consolidated total revenue from operations to Rs 16,117.5 crore, which was above Street’s estimate of Rs 14,794 crore.
Shilpa Medicare | CMP: Rs 483.50 | The share ended in the green on February 11. Mylab Discovery Solutions, diagnostic solutions provider, announced its foray into the vaccine and therapeutics segment with its strategic tie-up with Shilpa Biologicals Pvt Ltd (a 100 percent subsidiary of Shilpa Medicare Ltd), a specialist manufacturer of vaccines and a wide variety of biologicals. Starting with the COVID-19 vaccine manufacturing opportunity, the parties plan to strengthen the relationship by expanding the product portfolio in various other areas including biosimilars, other vaccines and diagnostics, Shilpa Medicare said in a BSE filing.
