The equity benchmarks broke a three-day losing streak on May 26, with the Sensex closing 503.27 points, or 0.94%, higher at 54,252.53, and the Nifty was up 144.40 points, or 0.90%, at 16,170.20.
Interglobe Aviation | CMP: Rs 1,813.75 | The share jumped over 10 percent after the company said it is planning to raise fares to return to profit after posting a loss in the March quarter. InterGlobe CEO Ronojoy Dutta said profitability was the top-of-the-mind priority for the company. “It’s clearly very—you almost have to hit the point—the sweet spot just right because you can keep pushing up fares and then at a certain point demand actually falls off,” Dutta said in an earnings call. “So you have a tug-of-war but the key to profitability is to keep managing our business on the revenue side.”
Coal India | CMP: Rs 183.80 | The stock ended in the green on May 26. Coal India reported 46 percent year-on-year growth in consolidated net profit at Rs 6,715 crore for the fourth quarter of FY22. On a sequential basis, profit jumped 47.4 percent. Consolidated revenues for the state-owned coal producer rose 22.5 percent year on year to Rs 32,707 crore. On a sequential basis, revenue was up 15 percent. BofAML has kept a “buy” rating on the stock with a target of Rs 218. Credit Suisse has kept an “outperform” rating and raised the target price to Rs 250 from Rs 225 a share.
Colgate Palmolive | CMP: Rs 1,615 | The share price rose over 2 percent after the firm reported a 2.8 percent jump in Q4 net profit at Rs 323.6 crore against Rs 314.7 crore and revenue was up 1.3% at Rs 1,300 crore versus Rs 1,283.2 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) were up 1.5% at Rs 428 crore versus Rs 421.8 crore and margin at 32.9% versus 32.9%, YoY.
Bharti Airtel | CMP: Rs 313.70 | The share ended in the green on May 26. Moody’s has upgraded Bharti Airtel to Baa3 with a stable outlook.
Page Industries | CMP: Rs 42,495 | The stock was up over 2 percent after the Jockey licensee reported a 64.2 percent jump in Q4FY22 net profit at Rs 190.5 crore from Rs 116 crore and a 26.1 percent increase in revenue to Rs 1,111 crore against Rs 881 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) were up at Rs 267 crore from Rs 170 crore and the margin was at 24% versus 19%, YoY.
Sequent Scientific | CMP: Rs 108.90 | The scrip fell over 10 percent after the company reported a 57 percent drop in its net profit for the March quarter. The company reported a net profit of Rs 10.04 crore for the March quarter, down 57.34 percent from Rs 23.52 crore a year ago. Revenue rose 6 percent from a year ago to Rs 383.71 crore.
Apollo Hospitals Enterprise | CMP: Rs 3,699 | The stock price gained 5 percent on May 26 after the company reported a 42.9 percent fall in Q4 net profit at Rs 97.01 from Rs 169.89 crore and revenue was up 23.7 percent at Rs 3,546.4 crore from Rs 2,868 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) were up 12.5 percent at Rs 463.24 crore from Rs 411.83 crore and the margin was at 13.06 percent against 14.36 percent, YoY.
Zydus Lifesciences | CMP: Rs 373.60 | The stock added 2 percent on May 26. Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Pemetrexed for injection in the strengths of 100 mg/vial,500 mg/vial, and 1000 mg/vial single-dose vials, the company said in its release.
MOIL | CMP: Rs 159.80 | The share ended in the green after the company posted a 12.9 percent jump in Q4 net profit at Rs 131 crore up from Rs 116 crore and revenue was up 3.9% at Rs 467.9 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) were up 37.7% at Rs 213.9 crore versus Rs 155.34 crore and the margin was at 45.73% versus 34.51%, YoY.
Polyplex Corporation | CMP: Rs 2,257 | The scrip jumped over 6 percent after the firm reported a 48.6 percent jump in Q4 net profit at Rs 304.4 crore from Rs 204.8 crore and revenue was up 45.7 percent at Rs 1,885.9 crore from Rs 1,294.2 crore in the year-ago period.
