Among the sectors, selling was seen in power and financial names while buying was seen in realty, metals and auto stocks. The BSE midcap and smallcap indices ended with gains of half a percent each.
Benchmark indices ended in the red on the last day of May, snapping the three-day winning streak. The Sensex was down 359.33 points or 0.64 percent at 55,566.41, and the Nifty fell 76.90 points or 0.46 percent at 16,584.50. About 1,720 shares advanced, 1,548 shares declined, and 121 shares remained unchanged.
Mahindra & Mahindra | CMP: Rs 1,032 | The auto stock added over three percent on May 31. The company announced the sale of its entire stake in TVS Automobile Solutions. Nomura has a buy call on the stock and has raised the target to Rs 1,308 per share. It believes that the stock has the potential for auto EBIT to more than double in FY23 and has raised the EV-EBITDA multiple for its core auto business to 10x FY24e with the current valuation looking quite attractive.
Sun Pharma | CMP: Rs 865.15 | The stock ended lower by over two percent on May 31. The pharma firm on May 30 reported a surprise loss for the quarter ended March 2022 (Q4FY22), hit by one-time charges. It posted a net loss of Rs 2,227.38 crore for the quarter under review, compared to the net profit of Rs 848 crore a year ago. Revenue for the quarter rose 11 percent from a year ago to Rs 9,386.08 crore. CLSA has a ‘buy’ call on the stock with the target at Rs 1,080 per share. Morgan Stanley has maintained its ‘overweight’ call on the stock with a target of Rs 1,002 per share.
Titagarh Wagons | CMP: Rs 100.50 | The share price ended in the red despite the company reporting standalone net profit which rose 22 percent to Rs 21.05 crore compared to Rs 17.16 crore in the previous year period. Revenue grew 55.5 percent to Rs 418.9 crore from Rs 269.4 crore last year. EBITDA stood at Rs. 48.37 crore in March 2022, up 33.84 percent from Rs. 36.14 crore in March 2021.
GAIL India | CMP: Rs 147.10 | The scrip added over 2 percent on May 31. The state-run firm aims to step up spending on petrochemicals and the clean energy businesses even as it continues to invest in pipelines across the country, Manoj Jain, chairman and managing director, told Moneycontrol. Jain said global gas prices may continue to remain high for the next one-and-a-half years, but hopes that GAIL’s attempt to pool expensive gas with relatively cheaper domestic gas to sell to city gas distribution companies will provide a buffer to retail customers from volatility in the global energy market.
Life Insurance Corporation of India | CMP: Rs 810.85 | The stock shed over three percent after the country’s largest life insurance company recorded an 18 percent year-on-year decline in profit at Rs 2,371.55 crore for the quarter ended March 2022. However, net premium income rose by 18.2 percent to Rs 1,43,746 crore during the same period.
NCC | CMP: Rs 64.20 | The share price rose over 2 percent after the firm received three orders aggregating Rs 6,388 crore in May 2022 under Buildings Division. Out of the three orders, a Rs 5,688-crore order was received from Brihanmumbai Municipal Corporation for the design, build, operation and maintenance of Malad Wastewater Treatment Facility under MSDP Stoge-ll, the company said in an exchange filing.
NLC India | CMP: Rs 75.25 | The share price fell over 4 percent on May 31 after the company recorded a massive 54 percent on-year decline in profit at Rs 331.2 crore for the quarter ended March 2022 impacted by the high base and lower other income. Revenue increased by 8.7 percent to Rs 3,086 crore during the same period.
KNR Constructions | CMP: Rs 255.60 | The stock gained over 4 percent on May 31 after the infrastructure company reported a 49 percent on-year growth in profit at Rs 141 crore in Q4FY22, supported by higher other income, and operating income. Revenue grew by 11.3 percent to Rs 1,102 crore compared to the same period last year.
Campus Activewear | CMP: Rs 365.50 | The scrip ended in the green on May 31. The fashion and athleisure footwear brand reported a 296 percent year-on-year growth in consolidated profit at Rs 39.60 crore in the quarter ended March 2022, driven by operating income and topline, and lower tax cost. Revenue grew by 28 percent to Rs 352.3 crore during the same period.
PC Jeweller | CMP: Rs 20.15 | The share slipped 2 percent after the company posted a loss of Rs 173 crore in the March 2022 quarter against a profit of Rs 60 crore in the same period last year on lower revenue. Revenue from operations declined sharply to Rs 189 crore in Q4FY22, compared to Rs 868 crore in the corresponding period last year.
Sandip Das
