Equity markets have seen a rise in volatility in the last couple of days due to varying news flows coming in from the Ukraine border. The Nifty has been trading in a broader range of 16,800-17,400 and needs a decisive breakout on either side for clear direction, said Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services.
The BSE Sensex fell 319.95 points to end at 57,832.97, while the Nifty50 shed 98.45 points to close at 17,276.3 levels during the week ending February 18. Foreign institutional investors (FIIs) sold equities worth of Rs 12,215.48 crore and domestic institutional investors (DIIs) bought equities worth of Rs 10,592.21 crore. Here are 10 stocks that moved the most in the week gone by:
Metropolis Healthcare | The stock was down over 17 percent after the company’s net profit declined 29.69 percent to Rs 41.2 crore for the third quarter ended December 31, 2021. The diagnostics chain had reported a net profit of Rs 58.6 crore in the same period of the previous fiscal. Revenues, however, increased to Rs 293.1 crore in the period under review as against Rs 274.7 crore in the same period of 2020-21 fiscal. The company also said its board has declared an interim dividend of Rs 8 per share for the financial year 2021-22. Global brokerage Credit Suisse has maintained its ‘underperform’ call as it believes the downside risk is still high and the stock is expensive despite correction. It has set a target price of Rs 1,700 per share.
ABB Power | The share price gained 10 percent last week. The firm posted three-fold jump in net profit to Rs 194 crore for the December quarter 2021, mainly on the back of higher revenues. Revenue during the quarter stood at Rs 2,101 crore, higher 24 percent as compared to Rs 1,701 crore in the same period a year ago, a company statement said. For the full year (January to December 2021), net profit more than doubled year-on-year to Rs 532 crore from Rs 230 crore in 2020. The board recommended a dividend of Rs 5.2 per share (260 per cent), subject to the approval of shareholders.
Adani Green | The scrip added 7 percent in the week gone by. India Ratings and Research has affirmed Adani Green Energy ‘s Long-Term Issuer Rating at ‘IND A+’ with stable outlook. The rating agency continues to take a consolidated view of AGEL and its subsidiaries and has analysed the cash flow upstreaming available to AGEL from its subsidiaries while arriving at the ratings. Malay Thakkar, Technical Research Associate at GEPL Capital has recommended a buy on the stock with target of Rs 2,270 per share. “Adani Green on long term charts is moving with higher highs and lows formation. Recently the stock has broken out of the one-month consolidation which is backed by good volume buildup, indicating participation in the breakout,” he said.
Voltas | The share price was up 5 percent last week despite the company reporting net profit which fell 24.96 percent to Rs 95.98 crore in the quarter ended December 2021 as against Rs 127.91 crore during the previous quarter ended December 2020. Sales also declined 10.07 percent to Rs 1772.06 crore in the quarter ended December 2021 as against Rs 1970.40 crore during the previous quarter ended December 2020. According to research firm Anand Rathi, rising mercury levels can brighten the outlook for Voltas’ UCP category, impelling it to upgrade the stock to a buy despite a slower pace of order inflows in its projects business and mounting losses in Voltas Beko JV.
Manappuram Finance | The stock was down over 20 percent after the financier reported 46 percent YoY drop in consolidated net profit at Rs 261 crore in December quarter (Q3FY22), due to weak operational performance. Net interest income (NII) fell 12 percent YoY to Rs 915 crore driven by a sharp compression in spreads, media reports said. In Q3FY22, profit before tax (PBT) of gold loan and others segment declined 44 per cent YoY at Rs 347 crore, while PBT of microfinance (MFI) business dipped sharply to Rs 0.78 crore from Rs 32.18 crore in Q3FY21.
Balkrishna Industries | The scrip shed over 9 percent in the week gone by despite the firm reporting a 4.2 percent jump in its Q3FY22 consolidated net profit at Rs 338.95 crore against Rs 325.07 crore in the same quarter last year. Consolidated revenue was up 35.55 percent at Rs 2,045.81 crore versus Rs 1,509.23 crore a year ago. The board has declared a third interim dividend of Rs 4 per share (200 percent) on shares of Rs 2 (face value) for the financial year 2021-2022. Citi has kept a buy rating on the stock and cut the target to Rs 2,620 per share. Nomura has upgraded the stock to neutral and raised the target price to Rs 2,246 per share.
Hikal | The stock slipped 9 percent last week. The company received a notice from the Maharashtra Pollution Control Board for closure of Taloja unit within 72 hours. Hikal received the notice on February 15 in view of certain alleged non-compliances and the recent Surat issue, the company said in its release. The firm is taking legal steps to seek relief, it added. The Taloja unit had contributed approximately Rs 260 crore amounting to around 15% of the turnover for financial year 2020-21.
Ambuja Cements | The share price fell 8 percent after the firm, part of Swiss building material major Holcim group reported a decline of 55.48 percent in its consolidated net profit to Rs 430.97 crore for the fourth quarter ended December. The company, which follows the January-December financial year, had clocked a net profit of Rs 968.24 crore a year ago, Ambuja Cements said in a BSE filing. On a standalone basis, Ambuja Cements reported a decline of 49.37 percent in its net profit to Rs 251.66 crore as against Rs 497.10 crore in the year-ago period. The board in its meeting on February 17 recommended a final dividend on shares at the rate of Rs 6.30 per share subject to the approval of shareholders.
Motherson Sumi Systems | The scrip was down 8 percent after the company reported a 69.3 percent YoY 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. Motherson Sumi’s debt profit, however, deteriorated in the reported quarter as net debt-to-operating profit ratio rose to 1.4 from 1.3 in the previous quarter. Citi has kept the ‘sell’ call on the stock with a target at Rs 174 per share. SMRPBV was in line with estimates, but domestic business and PKC disappoint. The demerger of domestic wire harness business has been executed in January, it said.
NMDC | The stock declined 10 percent in the week gone by. The sharp decline in iron ore prices in China, 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. The decline in Chinese prices of iron ore is a negative for domestic iron ore producers like NMDC, whose own prices are largely influenced by global prices of the metal. The company reported a nearly 3 percent on-year decline in consolidated net profit to Rs 2,048.4 crore for the quarter ended December as iron ore prices softened slightly in the reported quarter.
Sandip Das
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