All the sectoral indices ended in the red, with auto, bank, oil & gas, PSU bank, pharma, FMCG, metal, realty and capital goods shedding 2-6 percent. BSE Midcap and Smallcap indices lost 3-4 percent.
The benchmark indices ended lower for the second consecutive session on February 14 amid a global sell-off due to growing tensions between Russia and the West over Ukraine. At close, the Sensex was down 1,747.08 points or 3% at 56,405.84, and the Nifty was down 532 points or 3.06% at 16,842.80.
Grasim Industries | CMP: Rs 1,638 | The stock price shed over 4 percent on February 14 in a market that was in a bear grip. The company reported a consolidated profit after tax (PAT) of Rs 1,746 crore for the third quarter ended December 2021. This was up by 26 percent from Rs 1,389 crore profit reported in the corresponding quarter last year. The profit stands higher by 28 percent from Rs 1,359 crore the company reported in the previous quarter this fiscal. The Aditya Birla Group company reported consolidated revenues of Rs 24,402 crore, posting a 16 percent rise over the Rs 21,000 crore topline a year back. On a sequential basis, the revenue climbed 8 percent from Rs 22,567 crore clocked in the previous quarter.
Adani Wilmar | CMP: Rs 375.30 | The stock price ended in the red despite the firm reporting a 66 percent on-year growth in consolidated net profit to Rs 211.4 crore for the quarter ended December, the company’s exchange filing showed. The company’s consolidated revenues grew 40.6 percent on a year-on-year basis to Rs 14,378.7 crore for the reported quarter. The strong topline performance of the company was led by the edible oils business where revenues grew 40 percent on-year on the back of strong volumes. Similarly, the company’s fast-moving consumer goods segment reported an even better 46 percent jump in sales to Rs 704 crore.
Motherson Sumi Systems | CMP: Rs 168.60 | The scrip slipped over a percent but recovered from a 52-week low after the company declared its December quarter earnings. The firm 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 the Street estimate of Rs 14,794 crore. CLSA has kept ‘outperform’ rating with a target at Rs 203 per share on strong FY23 demand outlook. Nomura has kept the ‘buy’ call with a target at Rs 202 per share as the Q3 was in line.
ONGC | CMP: Rs 165.75 | The stock closed in the red on February 14, down 1.5 percent. The state-owned oil and gas major reported a consolidated profit after tax (PAT) of Rs 11,637 crore for the third quarter ended December 2021, up 220 percent from the profit of Rs 3,637 crore reported in the corresponding quarter a year ago. On a sequential basis, the profit was 38 percent lower from a PAT of Rs 18,749 crore in the previous quarter. ONGC had received a deferred and current tax credit of Rs 9,320 crore in the preceding quarter of the current fiscal. JP Morgan has kept the ‘buy’ rating with a target at Rs 235.
TVS Motor | CMP: Rs 637.60 | The share price was down over 3 percent after its promoter Sundaram Clayton on February 11 sold around 95 lakh shares, or a 2% stake, in the company at an average price of Rs 635.97 a share via an open market transaction on the BSE. With this sale, Clayton stake will be at around 50.26% from 52.26%.
Sandip Das
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