All sectoral indices ended in the red, with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma and realty down 1-4 percent
The benchmark indices closed deeper in the red, falling for the fifth consecutive session on May 12. At close, the Sensex was down 1,158.08 points, or 2.14%, at 52,930.31, and the Nifty was down 359.10 points, or 2.22%, at 15, 808.
Skipper | CMP: Rs 60 | The stock jumped over 6 percent after the company clocked a 177 percent year-on-year growth in profit at Rs 25.12 crore in the quarter ended March 2022 led by higher operating income and margin performance (up 260 bps YoY). Revenue grew by 11 percent to Rs 552.65 crore and EBITDA increased by 44 percent to Rs 61.67 crore from the year-ago period.
Premier Explosives | CMP: Rs 294.25 | The share fell 5 percent on May 12. The company signed a contract with the Ministry of Defence for the supply of a “new family of munitions” for a total value of Rs 44.58 crores to be delivered within 24 months from the effective date of the contract. The production of these items will be done from the company’s facility at Katepally, the firm said in its release.
Adani Green | CMP: Rs 2,432.95 | The scrip tumbled over 8 percent on May 12. The management committee of Adani Green Total at a meeting on May 12 approved the allotment of 2 crore equity shares of the company by way of private placement to Green Energy Investment Holding RSC. The equity shares will be listed on BSE Limited and the National Stock Exchange of India Limited.
Indian Oil Corporation | CMP: Rs 122.40 | The share ended in the green in a weak market on May 12. The board will meet on May 17 to consider and approve standalone as well as consolidated audited financial results of the company for the quarter and year ended March 31, 2022 and the declaration of final dividend for the financial year 2021-22. Indian Oil Corporation has informed BSE that the Board of Directors may consider an issue of bonus shares in the board meeting.
Hindalco Industries | CMP: Rs 406.70 | The stock ended 3 percent lower despite its subsidiary Novelis Inc recording a 21 percent year-on-year growth in net income at $ 217 million in March 2022 quarter driven by topline and lower tax cost. Net sales increased 34 percent to $ 4.8 billion from the year-ago period, primarily driven by higher average aluminum prices and local market premiums. Adjusted EBITDA at $ 431 million, however, fell 15 percent YoY, primarily due to short-term operational cost challenges.
Birla Corporation | CMP: Rs 948 | The scrip shed a percent on May 12 after the company reported a 55.4 percent year-on-year decline in consolidated profit at Rs 111 crore for the quarter ended March 2022, impacted by higher power & fuel, input cost, and exceptional loss. Revenue, however, grew by 6 percent to Rs 2,264.2 crore compared to the year-ago period.
Punjab National Bank | CMP: Rs 28.95 | The stock price crashed over 12 percent after the company reported a 66 percent decline in standalone net profit at Rs 202 crore for the fourth quarter of the financial year 2021-22 on higher amounts parked towards provisioning, even as its NPA levels declined.
Tata Motors | CMP: Rs 371.90 | The auto stock declined over 4 percent on May 12. The company on May 12 reported a consolidated net loss of Rs 1,032 crore for the quarter ended March as against a consolidated net loss of Rs 7,605 crore in the year-ago quarter. The company reported a 11.5 percent year-on-year decline in consolidated revenue from operations to Rs 78,439 crore for the reported quarter.
Relaxo Footwears | CMP: Rs 1,005 | The share price slipped over 2 percent after the company reported a 38 percent on-year decline in profit at Rs 63 crore for the quarter ended March 2022, hit by lower operating income and topline. Revenue during the same period dropped 7 percent to Rs 698 crore impacted by Covid, a hike in GST rate and subdued demand amid high inflation. EBITDA fell 32 percent to Rs 111 crore compared to the same period last year on account of higher input cost.
SKF India | CMP: Rs 3,102 | The share price ended in the green on May 12 after the company reported a 4.4 percent on-year growth in consolidated profit at Rs 109.5 crore in the quarter ended March 2022, led by a strong topline. Revenue grew by 22.6 percent to Rs 1,039 crore compared to the year-ago period.
Sandip Das
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