Among sectors, buying was seen in financials, auto and power spaces while selling was seen in metals and realty names.
Benchmark indices closed on a robust note on October 17 as Sensex jumped 491.01 points or 0.85% at 58,410.98, and the Nifty rallied 126.10 points or 0.73% at 17,311.80.
ACC | CMP: Rs 2,260 | The stock ended in the green on October 17 after the company declared its Q3 earnings. The firm reported a standalone loss of Rs 91 crore for the quarter ended September 2022, as against a post-tax profit of Rs 449 crore in the year-ago period. The company had posted a net profit of Rs 222 crore in the June 2022 quarter. The company recorded a 7 percent rise in net sales at Rs 3,910 crore as compared to Rs 3,653 crore in the same quarter last year. EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 16 crore against Rs 713 crore YoY, impacted largely due to a steep rise in fuel cost.
Tata Elxsi | CMP: Rs 7,784.70 | The share price tumbled 8 percent after the company reported a sequential decline in its net profit. For the quarter ended September, net profit stood at Rs 174.27 crore as against Rs 184.72 crore in the June quarter. Its revenue from operations grew 28 percent year-on-year to Rs 763.2 crore in the September quarter. Profit after tax grew 39.1 percent and the employee mark crossed 11,000 with 1,532 net additions in the quarter. Ebitda’s profit margin came in at 29.7 percent.
Shree Cement | CMP: Rs 20,810 | The scrip ended in the red after the company reported a 67 percent plunge in standalone net profit of Rs 189 crore in the second quarter of FY23, as against a profit of Rs 578 crore recorded a year ago. On a sequential basis, the profit dropped 40 percent from Rs 316 crore earned in the last quarter. Standalone revenues increased 18 percent on-year to Rs 3,781 crore as compared to a revenue of Rs 3,206 crore a year back. On a sequential basis, the revenue was 10 percent lower from Rs 4,203 crore in the June quarter.
Avenue Supermarts | CMP: Rs 4,151.25 | The stock price fell over 3 percent even though the company reported strong numbers for the quarter ended September 2022. The operator of DMart chain of retail stores reported a 64 percent rise in consolidated post-tax profit of Rs 685 crore for the quarter ended September 2022 as against Rs 418 crore in the same quarter of the previous fiscal year. Sequentially, the profit rose 6.6 percent from Rs 642 crore in Q1FY23. Consolidated revenue came in at Rs 10,638 crore for the quarter, an increase of 36 percent compared to Rs 7,789 crore in the year-ago period. Sequentially, the revenue rose 6 percent from Rs 10,038 crore in the June quarter.
Bajaj Auto | CMP: Rs 3,630 | The share price ended in the green after the firm reported a standalone net profit of Rs 1,530.00 crore for Q2FY23, up 20 percent from Rs 1,274.55 crore reported in the same quarter last year. On a quarter-on-quarter (QoQ) basis, it rose 30 percent from 1,173.30 crore in Q1FY23. The company’s revenue from operations stood at Rs 10,202.77 crore, which was a 16 percent increase from Rs 8,762.18 crore logged in the corresponding quarter of the previous fiscal, the company said in an exchange filing. CLSA has kept ‘outperform’ rating on the stock and cut the target price to Rs 4,100 per share. Citi has maintained a sell rating on the stock and cut the target price to Rs 3,300 from Rs 3,450 per share as Q2 was below estimate on weaker mix offsetting currency benefits.
HDFC Bank | CMP: Rs 1,445.45 | The stock price managed to close in the green on October 17. HDFC Bank on Saturday reported a consolidated net profit of Rs 11,125 crore for the quarter ended September 30 (Q2FY23). The figure was 22.3 percent higher than the profit logged in the corresponding quarter of the previous fiscal. The bank’s standalone net profit increased by 20 percent year-on-year (YoY) to Rs 10,606 crore while its net interest income (NII) grew 18.9 percent to Rs 21,021.2 crore against Rs 17,684.4 crore logged in Q2FY22. According to Morgan Stanley, the profit was strong at 20% YoY, led by revenue growth. The core PPoP growth has been on a sustained rebound, while the margin has improved & has an upside risk. Morgan Stanley expects 19-20% core PPoP growth in FY24/FY25.
BLS International Services | CMP: Rs 319.90 | The stock price surged over 9 percent after ace investor Shankar Sharma picked a stake in the company. The seasoned investor bought shares of the travelling and visa service provider on Friday, according to the bulk deal data provided by National Stock Exchange. Sharma picked 11.5 lakh equity shares at an average price of Rs 275 apiece, the data suggests. His stake in the company is valued at about Rs 31.63 crore.
Craftsman Auto | CMP: Rs 2,847.65 | The stock added over 2 percent after the auto ancillary company’s consolidated net profit jumped 25% to Rs 62.48 crore on a 35.94% surge in net sales to Rs 776.24 crore in Q2 FY23 over Q2 FY22. Consolidated profit before tax stood at Rs 96.06 crore in the quarter ended September 30, 2022, registering a growth of 25.5% from Rs 76.54 crore posted in the same period last year.
Bank of Maharashtra | CMP: Rs 18.95 | The scrip jumped over 5 percent after the bank reported a two-fold jump in its net profit to Rs 535 crore in the September 2022 quarter, helped by a decline in bad loans. The lender had reported a standalone profit after tax of Rs 264 crore in the same quarter of the previous fiscal. Total income increased to Rs 4,317 crore during the quarter under review against Rs 4,039 crore in the year-ago period, BoM said in a regulatory filing.
Thangamayil Jewellery | CMP: Rs 1,138.50 | The scrip dipped over 10 percent after the company’s net profit went down 40.3 percent at Rs 15.9 crore against Rs 26.7 crore YoY. Revenue was up 15.5 percent at Rs 813.2 crore against Rs 704.3 crore YoY.
Sandip Das
`); } if (res.stay_updated) { $ (“.stay-updated-ajax”).html(res.stay_updated); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); })
