The benchmark indices ended on a negative note in a highly volatile session on February 16, dragged down by auto, bank, metal and IT stocks. At close, the Sensex was down 145.37 points, or 0.25%, at 57,996.68, and the Nifty was down 30.30 points or 0.17% at 17,322.20.
Vedanta | CMP: Rs 366.35 | The share ended in the red after Moody’s Investors Service changed the outlook to “negative” from “stable”. “The change in outlook to negative reflects holding company VRL’s large near-term refinancing requirements amid tightening liquidity in the capital markets,” the rating agency said.
Va Tech Wabag | CMP: Rs 320 | The share jumped over 8 percent after Japanese research firm Nomura maintained “buy” rating on the stock and raised the target to Rs 634 a share, an upside of over 96 percent from the current level. Nomura is of the view that VA Tech Wabag posted robust results with EBITDA margin improving. Strong debt reduction, greater than 10% margin and focus on securing tech-focussed were the key positives. The focus will be on securing tech-focussed orders with a low civil component, it said.
SpiceJet | CMP: Rs 63.25 | The scrip ended in the red despite posting a net profit of Rs 23.3 crore in the third quarter of FY22 against a loss of Rs 57 crore in the same quarter last year. The sky, however, still looks hazy for the low-cost airline and turbulence is expected to continue. Helped by a significant increase in the fleet, addition of new destinations, and recovery in passenger traffic, the company saw a 68.2 percent year-on-year (YoY) and 33.8 percent quarter-on-quarter (QoQ) increase in operating revenues, which stood at Rs 2,262.6 crore. Logistics operations also propelled the topline. Airline stocks were in focus after aviation turbine fuel or jet fuel prices was increased 5.2 percent to Rs 90,519.79 per kilolitre in Delhi, according to Indian Oil Corporation’s website.
Burger King India | CMP: Rs 139.80 | The share jumped over 6 percent on February 16. The company closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 a share, a discount of 5 percent to the floor price of Rs 136.05.
NCL Industries | CMP: Rs 178.65 | The scrip added over 2 percent after promoters acquired shares through open market. Promoter Kalidindi Ravi and Kalidindi Roopa acquired 43,600 equity shares in the company on February 14. As a result, their shareholding in the company increased to 5.14 percent from 5.04 percent.