Except bank, all sectoral indices ended in the red. IT, metal, realty, oil & gas and capital goods indices were down 1-3 percent
The Indian benchmark indices ended lower for the second consecutive session in volatile trade on April 12. At close, the Sensex was down 388.20 points, or 0.66%, at 58,576.37 and the Nifty closed 144.70 points, or 0.82%, lower at 17,530.30.
TCS | CMP: Rs 3,686 | The share price ended in the red on April 12, a day after Tata Consultancy Services posted its fourth quarter earnings with a record-high order book. It reported a consolidated net profit of Rs 9,926 crore for the fourth quarter ended March 2022, registering a 7 percent on-year growth. On a sequential basis, the growth in profit was 2 percent. The consolidated profit after tax (PAT) stood at Rs 9,246 crore a year ago, while it was Rs 9,769 crore in the December quarter. Morgan Stanley has kept an equal-weight rating with a target at Rs 3,900 per share. Jefferies has maintained “hold” rating with a target at Rs 3,925 per share.
Escorts | CMP: Rs 1,539.90 | The stock fell 4 percent after it emerged that ace investor Rakesh Jhunjhunwala had sold his stake in the tractor manufacturer. Jhunjhunwala held 75 lakh equity shares, or 5.68 percent stake, in the company as of December 31, 2022, sources said. His name is now missing from the list of individual shareholders, who own 1 percent or more, Escorts’s shareholding pattern for Q4 FY22 shows.
Adani Transmission | CMP: Rs 2,689.95 | The share ended in the red on April 12. A $ 500 million investment in Adani Transmission Limited (ATL, BBB-/Negative) by International Holding Company (IHC), the investment arm of the Abu Dhabi royal family, will increase ATL’s rating headroom by improving its leverage and coverage ratios, Fitch Ratings said.
GM Breweries | CMP: Rs 677.85 | The scrip was down over 4 percent after the firm posted an 11.6 percent fall in its Q4 net profit at Rs 40.1 crore against Rs 45.3 crore, though revenue was up 11% at Rs 142 crore against Rs 127.7 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) were down 16% at Rs 23.1 crore against Rs 27.5 crore and margin at 16.2% versus 21.5%, YoY.
Tata Motors | CMP: Rs 438 | The stock price slipped over 3 percent on April 12. The Tata Motors Group global wholesales in Q4FY22, including Jaguar Land Rover, were at 3,34,884, higher by 2%, as compared to Q4FY21, the company said in its release. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q4FY22 were at 1,22,147, higher by 12%, over Q4FY21. Global wholesales of all passenger vehicles in Q4FY22 were at 2, 12,737, lower by 4% as compared to Q4FY22.
Adani Green | CMP: Rs 2,800 | The share jumped 5 percent after total operational capacity increased by 56% YoY to 5,410 MW. The sale of energy increased by 84% YoY to 2,971 m units.
SPML Infra | CMP: Rs 69.60 | The scrip was up 5 percent after the firm secured several arbitration awards of a cumulated amount of Rs 712 crore, including interest upto September 30, 2019, for the projects from different clients in India.
Delta Corp | CMP: Rs 317.30 | The share ended in the red on April 12. The company reported its March quarter earnings where it posted a 16.7 percent fall in its Q4 net profit at Rs 48.1 crore versus Rs 57.8 crore, while revenue was up 3.3 percent at Rs 218.3 crore versus Rs 211.3 crore, YoY. Earnings before interest, tax, depreciation and amortisation (EBITDA) was down 12.8 percent at Rs 69 crore versus Rs 79.2 crore and margin at 31.6 percent versus 37.5 percent, YoY. The company board recommended a final dividend at 125 percent, which is Rs 1.25 a share.
Kesoram Industries | CMP: Rs 58.50 | The stock slipped 3 percent on April 12. The company posted a loss of Rs 46.14 crore for the March 2022 quarter, which widened from Rs 31.97 crore in the previous quarter. It recorded a profit of Rs 96.41 crore in the year-ago period. An increase in power and fuel costs, and finance cost hit the bottomline. Revenue increased by 20 percent YoY to Rs 1,031.78 crore and the sequential growth was 18 percent.
Gujarat State Fertilizers & Chemicals | CMP: Rs 169.90 | The stock fell over 5 percent after LIC offloaded 2.01 percent stake in the company via open market transactions. With this, its shareholding in the company stands reduced to 6.06 percent from 8.07 percent.
Sandip Das
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