Buzzing Stocks | RIL, Coal India, Eicher Motors and others in news today

Reliance Industries: Jio Platform invests in Glance. Subsidiary Jio Platforms will invest $ 200 million in Glance to accelerate Glance’s launch in key international markets. In the last one month, the scrip was down 8 percent, while so far this year, it fell 3 percent. [Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.]

Eicher Motors: Eicher Motors net profit falls 14%; Revenue rose marginally. Subdued sales due to semiconductor chips shortage and weak operating income dented profitability in Q3FY22 as profit declined 14.4 percent to Rs 456 crore, down compared to Rs 533 crore in Q3FY21. Revenue increased 1.9 percent to Rs 2,881 crore from Rs 2,828 crore YoY, but Royal Enfield sales volume dropped 15.6 percent YoY to 1.67 lakh units. The stock was already under pressure due to weaker sales and semiconductor chip shrotage. In last one month the scrip fell over 9 percent.

Godrej Consumer Products: Divestment of stake in BBLUNT. The company divested its entire stake in BBLUNT for Rs 84.5 crore. Honasa Consumer, which runs brands like Mamaearth, has acquired BBLUNT from the company. The stock fell for seventh consecutive sessions and declined nearly 14 percent in this period.

Coal India: Coal India profit surges; Revenue up 20%. Profit during the quarter ended December 2021 grew significantly by 47.7 percent year-on-year to Rs 4,556.5 crore, up from Rs 3,084.1 crore in Q3FY21 as revenue and operating income remained strong. Revenue from operations increased by 20 percent to Rs 28,433.5 crore in Q3FY22, up from Rs 23,686 crore in Q3FY21. The stock fell for third sessions and declined over 4 percent in this period.

Future Retail: Net loss widens; Revenue increases sharply. The losses in December 2021 quarter widened to Rs 1,063.4 crore, against loss of Rs 847 crore in Q3FY21, but revenue increased sharply by 87 percent to Rs 2,815.7 crore, up from Rs 1,506.9 crore YoY. The stock was volatile during the quarter. It fell for fourth consecutive sessions.

Natco Pharma: Profit grew 28%; revenue surged 58%. Profit for the December quarter 2021 grew by 28.2 percent to Rs 80.4 crore, up from Rs 62.7 crore in Q3FY21 as revenue surged 57.8 percent to Rs 560.5 crore against Rs 355.2 crore during the same period. In the last three weeks the scrip was up over 6 percent.

Nagarjuna Fertilizers: Losses widens; revenue grew 34%. The losses in Q3FY22 widened to Rs 169.5 crore against Rs 86 crore loss reported in year-ago period as higher power and fuel cost and raw material cost hit operating income. However, revenue grew by 34 percent to Rs 574.7 crore from Rs 429.6 crore during the same period. The stock fell 10 percent on Monday.

Khadim India: Khadim India profit grew sharply. Profit during December 2021 quarter grew sharply by 86.4 percent year-on-year to Rs 8.2 crore, up from Rs 4.4 crore in Q3FY21 as EBITDA margin improved by 300 bps to 11.70 percent YoY during the quarter. Revenue rose by 6.3 percent to Rs 185 crore from Rs 174 crore during the same period with steady growth across businesses – retail and distribution, and significant improvement in margins for Q3FY22. The stock has been volatile so far this year. In last two sessions it lost around 7 percent.

Varroc Engineering: Varroc Eng losses widens; revenue falls. The losses in Q3FY22 increased to Rs 265.1 crore, against loss of Rs 138.7 crore posted in year-ago period and revenue fell 10.2 percent to Rs 3,134.95 crore from Rs 3,492.65 crore during the same period. The scrip has fallen over 15 percent in the last one month.

Graphite India: Profit surges; revenue grew 76%. The profit during the quarter ended December 2021 quarter shot up sharply to Rs 132 crore, up from Rs 23 crore in corresponding period last fiscal. Revenue grew by 76 percent to Rs 880 crore from Rs 499 crore in the same period, driven by both higher volumes and realizations. The stock in the last one month declined nearly 13%. In the last two sessions, the stock fell nearly 9 percent.

?Sterling and Wilson Renewable Energy: The firm slipped into red from a profit a year ago. Revenue grew by 14%. The company posted loss of Rs 422 crore in Q3FY22 against profit of Rs 22 crore in Q3FY21 due to steep rise in the cost of construction materials, stores & spares and direct project related expenses. Revenue at Rs 1,495 crore increased by 14 percent, compared to Rs 1,312 crore reported in the corresponding period last fiscal. During the past one year, the stock has risen 40% but has lost 13% in the past one month and 6 percent in the past one week.

Shriram Properties: The firm posted profit from a loss a year ago even though revenue declined 22%. South-based real estate company turned into black with profit for the reported quarter at Rs 13 crore against loss of Rs 27 crore in the year-ago period. EBITDA at Rs 53 crore reflected a growth of 147 percent YoY during this period as the rise in construction costs were mitigated by reduction in inventory, employee costs and other expenses. However, revenue fell 22 percent to Rs 110 crore, against Rs 141 crore during the same period. The stock lost 10% in the past one week.

PC Jeweller: The firm posted a loss against a profit a year ago: Revenue falls sharply by 58%. The company posted loss of Rs 74 crore in Q3FY22 against profit of Rs 130 crore in Q3FY21, revenue fell sharply by 58 percent to Rs 611 crore against Rs 1,467crore during the same period. Though the revenues in the reported quarter were equivalent to the combined revenues posted in the first two quarters of this year, they were significantly down compared to last year as the domestic sales were severely impacted due to resurgence of Omicron virus and related restrictions. The company was positive at EBITDA levels but finance cost provisions dented its bottomline. The stock has declined 22 percent in the past one year and has lost 12 percent in the past one month out of which 7 percent was lost in past one week.

Medplus Health Services: Profit declines 25% on year, Revenue grew by 17%. Profit during the quarter stood at Rs 17 crore declining by 25 percent compared to Rs 23 crore reported in the year-ago period due to higher employee and other costs as well as higher purchases of stocks in trade. Revenue increased by 17 percent to Rs 933 crore from Rs 801 crore recorded in the same period last year aided by 13 percent and 17 percent growth in its wholesale and retail businesses respectively. The stock is down 5 percent in the past one month and down 7 percent in the past one week.

Signet Industries: Profit slumps 63%, Revenue declines 23%. Profit in Q3FY22 at Rs 3 crore dropped by 63 percent compared Rs 7 crore in same period last year due to 14 percent increase in the cost of materials consumed as percentage of sales. Last year quarter also had a higher benefit of change in inventory. Revenue fell sharply by 23 percent to Rs 181 crore from Rs 236 crore during the same period last year due to steep decline of 44 percent in revenues from its trading operations which negated the 13 percent rise in manufacturing revenues. The stock has generated returns of 53% in the past one year, is trading flat in the past one month but is down 13 percent in the past one week.

JB Chemicals and Pharmaceuticals: Profit fell sharply by 46%; revenues grow 10%. Profit fell sharply by 46 percent to Rs 84 crore in Q3FY22, against Rs 154 crore in Q3FY21 on account of high other income booked in Q3FY21 due to sale of trademark and treasury income, revenue jumped 10 percent to Rs 601 crore from Rs 548 crore during the same period a year ago aided by healthy growth in domestic formulations business. International business witnessed a marginal growth. The stock has gained 426% in the past 3 years and has generated returns of 37 percent in the past one year. However, it has lost 5 percent in the past one week.

Zuari Global: Loss widens by 166%, revenue fell 25%. Loss for the December 2021 quarter has widened by 166% to Rs 48 crore, from a loss of Rs 18 crore in the same period last year due to 59 percent surge in cost of material consumed as percentage of sales, as well as higher project related expenses and employee costs. Revenue fell 25 percent to Rs 126 crore from Rs 168 crore during the same period as the growth in revenues from power and ethanol businesses were negated by the decline in revenues from its sugar business. The stock has moved up 77 percent in the past one year and by 23 percent in the past three months.