The market recovered from the previous day’s carnage to end higher on February 15 led by buying across sectors. At close, the Sensex was up 1,736.21 points, or 3.08%, at 58,142.05, and the Nifty gained 509.70 points, or 3.03%, at 17,352.50.
SpiceJet | CMP: Rs 64.50 | The stock jumped close to 10 percent after the firm reported a surprise profit for the December quarter after seven consecutive quarterly losses, helped by an increase in fliers and higher yields. The carrier reported a consolidated net profit of Rs 42.45 crore in the December quarter against a loss of Rs 66.78 crore a year ago. Revenue from operations rose 34.78 percent to Rs 2,204.68 crore against Rs 1,635.79 crore in the year-ago period as the airline added more destinations and aircraft to its fleet.
Cipla | CMP: Rs 920.90 | The share price shed over 3 percent on a huge block deal as part of which promoters reportedly sold around 2.04 crore shares, or 2.5% stake, of the company. Yusuf Hamied and Mustafa Hamied may reportedly have offloaded Cipla stake through the deal that fixed the floor price in the range of Rs 904.8-916.7 per share. Reports said the deal would be to sell 1.6 crore shares, or two percent of total shares outstanding, with an option to offload an additional 40 lakh shares or 0.5% of the total equity.
ACC | CMP: Rs 2,236.50 | The scrip gained over 3 percent after the company announced it had expanded capacity at a grinding unit in Uttar Pradesh by 1.6 mtpa. ACC announced the successful commissioning of a 1.6-mtpa grinding unit (GU) at Tikaria in the Uttar Pradesh. The additional capacity will add 1.6 mtpa of cement to the existing capacity of 2.31 mtpa, taking the total capacity at Tikaria GU to 3.91 mtpa.
Eicher Motors | CMP: Rs 2,711 | The stock price jumped over 5 percent after the automotive major declared a consolidated net profit of Rs 456 crore for the quarter ended December, a decline of 14 percent from Rs 533 crore a year ago. On a sequential basis, the profit is 22 percent higher from Rs 373 crore reported in the September quarter. Consolidated revenues increased two percent to Rs 2,881 crore from Rs 2,828 crore in the same period last year. CLSA has a “buy” call on the stock with the target at Rs 3,300 a share. The quarter missed expectations due to lower-than-expected performance by Royal Enfield. However, despite earnings miss, CLSA raised FY23-24 earnings estimates by 8-9% on greater confidence in Royal Enfield volumes.
NMDC | CMP: Rs 149.40 | The scrip shed over 2 percent after media reports said that futures of iron ore traded in China crashed 12 percent earlier in the day. The sharp decline in prices in the world’s largest commodity consumer comes in the wake of warnings by Chinese authorities over price manipulation. Chinese iron ore prices had surged in recent sessions to a five-month high on the back of optimism that the accommodative monetary policy of the People’s Bank of China will boost growth.
