Indian benchmark indices ended higher for the fourth straight session on October 19, with the Sensex up 146.59 points, or 0.25%, at 59,107.19, and the Nifty rising 25.30 points, or 0.14%, to 17512.30.
Ultratech Cement | CMP: Rs 6,410 | The scrip ended in the green on October 19 even after India’s largest cement manufacturer on October 19 reported a 42 percent decline in its consolidated net profit at Rs 759 crore for the quarter ended September 30, 2022 from Rs 1,310 crore in the year-ago period. On a sequential basis, UltraTech’s profit was down 52 percent from Rs 1,582 crore in the April-June period. The consolidated revenue for the quarter at Rs 13,893 crore was 16 percent higher on year from Rs 12,017 crore. Compared to the previous quarter, the revenue is 8 percent lower from Rs 15,164 crore.
Nestle India | CMP: Rs 19,800 | The stock price added over 2 percent after the company reported an 8.3 percent rise in post-tax profit at Rs 668 crore for the quarter ended September 30, 2022 as against Rs 617 crore a year back. Sequentially, the profit is 29.7 percent higher from Rs 515 crore in the June quarter. Revenue came in higher at Rs 4,591 crore for the quarter, an increase of 18.3 percent over Rs 3,882 crore in the year-ago period. Sequentially, the revenue was up 13.7 percent from Rs 4,036 crore.
L&T Technology Services | CMP: Rs 3,496 | The share price dipped 5 percent despite the company posting a 3 percent jump in its second-quarter net profit at Rs 282.4 crore as against Rs 274.2 crore. The rupee revenue was up 6.5 percent at Rs 1,995.1 crore as against Rs 1,873.7 crore, sequentially. The company declared a dividend of Rs 15 a share. CLSA has maintained the “sell” rating on the stock with a target at Rs 3,200 a share. Citi has kept the “sell” call on the stock and cut the target price to Rs 2,790 a share.
Mahindra CIE Automotive | CMP: Rs 318.85 | The stock rose over 2 percent after the auto ancillary recorded a 3 percent year-on-year growth in consolidated profit at Rs 171.4 crore for the quarter ended September FY23, supported by topline and other income, but dented by higher tax cost. Revenue grew by 30 percent to Rs 2,723 crore from the corresponding period last fiscal.
Piramal Pharma | CMP: Rs 191.75 | The stock declined 5 percent after making its trading debut on the National Stock Exchange at Rs 200 apiece. The shares were listed at a fully paid face value of Rs 10 each. Piramal Pharma demerged from PEL in August, as part of a strategy to simplify the company’s corporate structure. The demerger plan received a nod from the National Company Law Tribunal (NCLT) on August 12.
KPIT Technologies | CMP: Rs 644 | The scrip shed over 2 percent after the IT company’s consolidated net profit fell 2.28% to Rs 83.48 crore despite an 8.62% increase in revenue from operations to Rs 744.83 crore in Q2 FY23 over Q1 FY23. Year on year, the company’s net profit surged 28.23% while revenue jumped 26.06% in Q2 FY23. During the quarter, constant currency revenue growth was 27% YoY and 8.3% QoQ. In dollar terms, revenue growth was 17.2% YoY and 4.8% QoQ.
DB Corp | CMP: Rs 117 | The share price was down over 3 percent after the firm reported a 9.3 percent fall in Q2FY23 net profit at Rs 48.7 crore against Rs 53.7 crore. Revenue was up 20.5% at Rs 538.3 crore from Rs 446.7 crore in the year-ago quarter.
HDFC Asset Management Company | CMP: Rs 1,955.70 | The stock ended in the green on October 19 after the company reported a 6% rise in net profit at Rs 364.13 crore on a marginal rise in total income to Rs 648.93 crore in Q2 FY23 over Q2 FY22. Total expenses during the quarter rose 6% YoY to Rs 155.80 crore due to an increase in other expenses (up 11% YoY) and finance costs (up 9% YoY). The AMC had a quarterly average assets under management of Rs 4,29,300 crore as of September 30, 2022 compared to Rs 4,38,900 crore in the year-ago period, a slide of 2.2%, and its market share was 11% in QAAUM of the mutual fund industry.
Syngene International | CMP: Rs 589 | The share price jumped over 6 percent after the firm reported a 53% jump in its Q2FY23 net profit at Rs 102 crore against Rs 66.7 crore in the year=ago period. Revenue was up 25.9% at Rs 768.1 crore versus Rs 610.2 crore, YoY.
Taneja Aerospace & Aviation | CMP: Rs 146.20 | The stock hit 10 percent upper circuit after the firm signed a definitive agreement to acquire Air Works, said Taneja Aerospace & Aviation.
