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Last Updated : Feb 02, 2019 11:22 AM IST | Source: Moneycontrol.com

Check out the week's top 10 movers and shakers

The S&P BSE Largecap was up 0.95 percent, while S&P BSE Midcap index and Smallcap Index were down 0.28 percent and 0.36 percent, respectively.

Rakesh Patil
 
 
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Benchmark indices bounced back on weekly basis with Sensex and Nifty posting 1 percent gain amid Interim Budget, F&O expiry and earnings from India Inc. Sensex and Nifty shed 1 percent each during the week ended January 25, 2019.

For the week, Sensex rose 1.23 percent or 443.89 points, to end at 36,469.43, while Nifty gained 1.04 percent, or 113.1 points, to close at 10,893.65.

The S&P BSE Largecap was up 0.95 percent, while S&P BSE Midcap index and Smallcap Index were down 0.28 percent and 0.36 percent, respectively.

Vedanta | Down 16 percent

Vedanta has reported a 21 percent decline year-on-year (YoY) in the third quarter consolidated profit to Rs 1,574 crore due to lower commodity prices and shutdown of copper smelter at Tuticorin.

Revenue from operations during the quarter dropped 2.8 percent to Rs 23,669 crore compared to the year ago. The sequential profit was up 17 percent and revenue up 4 percent.

"Revenue was lower mainly on account of the shutdown of copper smelter at Tuticorin and lower commodity prices, partially offset by currency depreciation and higher volumes at Electrosteel and aluminium business," Vedanta said.

At the operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) declined 11 percent year-on-year to Rs 5,953 crore, but sequentially EBITDA increased 13 percent and margin expanded 300 bps QoQ to 29 percent.

Brokerages CLSA and Motilal Oswal have downgraded the company to sell and cut target to Rs 170 by both the firm.

Indiabulls Housing Finance | Down 9 percent

Indiabulls Housing Finance reported a 16 percent decline in the December quarter net at Rs 985.51 crore, primarily due to a high base in the same period last year due to one-time gains.

The company attributed the fall in net income to the one-time gain in the December 2017 quarter, when it had sold a third of its stake in Oak North Bank to GIC of Singapore for Rs 767.78 crore, booking a one-time profit of Rs 542.44 crore, boosting its bottomline.

The total revenue increased 23.2 percent to Rs 4,480 crore, while net interest income grew at higher 29.7 percent to 2,026 crore during the reporting quarter.

Zee Entertainment | Up 11 percent

Essel Group's management has successfully arrived at an understanding with lenders which are having a pledge on the shares held by the promoters, the group said in a release.

Essel Group Chairman Subhash Chandra said, "I am pleased to share that we have achieved an understanding with lenders. We have always valued their immense trust and faith sown in us and the positive and progressive outcome of the meeting is a true example of the same. I am very positive that we will continue to take such positive steps in rising up from the current challenging times, with the support of all stakeholders."

"Essel Group has high pledging across group companies. Zee's CEO said the group is working on selling three infra assets (one deal is almost done) and deals are expected to realise Rs 20,000 crore of EV and Rs 8,000 crore of equity value which will drive deleveraging at the group level," said CLSA, which has buy call on the stock with a target price at Rs 670.

HCL Technologies | Up 7 percent

HCL Technologies' third quarter (October-December) profit grew by 2.8 percent sequentially to Rs 2,611 crore, beating analysts' estimates. Revenue in rupee terms increased 5.6 percent quarter-on-quarter to Rs 15,699 crore in the quarter ended December 2018.

Topline in dollar terms grew by 4.9 percent sequentially to $2,202 million, while the same in constant currency increased 5.6 percent QoQ, which was far better than its competitors Infosys (4.2 percent), Wipro (2.4 percent) and TCS (1.8 percent).

The growth was driven by services across verticals and geographies led by Mode-2 services, Mode-3 and Mode-1.

Axis Bank | Up 7 percent

Private lender Axis Bank reported 131 percent jump in its Q3FY19 net profit at Rs 1,681 crore, beating market estimates.

Analysts were expecting the third-quarter profit growth in the range of 50-110 percent over the same period last year, partly driven by lower provisions.

The company had reported a profit of Rs 726.44 crore in a year ago period.

Net interest income (NII) was up 18 percent at Rs 5,603.6 crore versus Rs 4,732 crore in Q3FY18. Gross NPA was down at 5.75 percent against 5.94 percent, while net NPA was down at 2.36 percent versus 2.54 percent, QoQ.

In the absolute term, gross NPA was down at Rs 30,854.7 crore, while net NPA also down at Rs 12,233.3 crore.

Maruti Suzuki | Up 6 percent

Maruti Suzuki India, the country's largest car maker, has reported better-than-expected sales for January driven by mini car, utility vehicles and vans segments.

The company sold 1.517 lakh vehicles during the month, an increase of 0.2 percent over 1.513 lakh vehicles sold in the same month last year. Global brokerage house Nomura had expected 1.45 lakh units sales for the month.

Domestic sales lifted the growth in January, which increased 1.1 percent to 1.42 lakh vehicles, but exports dropped 11 percent to 9,571 units compared to year-ago month.

Passenger car sales for the month dipped 4.1 percent to 1.01 lakh units dented by compact (Swift, Celerio, Ignis, Baleno and Dzire) and mid-size (Ciaz) segments which declined 3.5 percent and 42 percent, respectively.

Jubilant Foodworks | Up 13 percent

The Domino’s Pizza operator Jubilant Foodworks reported 46 percent jump in its Q3FY19 net profit at Rs 96.5 crore on the back of better operating income and same-store-sales growth.

The company had reported a profit of Rs 66 crore in the same quarter last fiscal.

Revenue of the company rose 16.8 percent at Rs 929.1 crore against Rs 795.2 crore. Operating profit or EBITDA up 24.7 percent at Rs 170.6 crore, while the margin was at 18.4 percent.

The same-store-sales growth stood at 14.6 percent for the quarter ended December 2018.

The company has added 35 new Domino's stores in Q3 and Dunkin’ Donuts delivered break-even in Q3FY19 on the back of strong growth in the core portfolio of Donuts and Beverages, as also disciplined cost management.

DHFL | Down 46 percent

Shares of Dewan Housing Finance Corporation Ltd (DHFL) continued to face heavy selling pressure during the week amid a string of negative news surrounding the firm.

Non-profit journalism company Cobrapost held a press conference on January 29 in New Delhi, making allegations against promoters of Dewan Housing Finance Corporation (DHFL).

Cobrapost accused DHFL's primary promoters of having siphoned off more than Rs 31,000 crore public money.

The siphoning off was primarily carried out through grants of loans and advances to shell companies and by using other means, Cobrapost claimed.

Meanwhile, the mortgage firm appointed a Chartered Accountant firm to examine allegations made by portal Cobrapost that the NBFC through shell companies has siphoned out Rs 31,000 crore.

The Corporate Affairs Ministry has started inquiring into allegations of DHFL diverting Rs 31,000-crore loans and would seek more information from the housing finance firm, a senior official said.

Meanwhile, DHFL has termed the report as mischievous with a mala fide intention.

Housing finance company DHFL on January 25, reported a 36.7 percent decline in net profit to Rs 313.60 crore for the third quarter ended December 2018.

Ajanta Pharma | Down 12 percent

The company's Q3FY19 net profit fell to Rs 66.9 crore versus Rs 147.5 crore in the same quarter last fiscal.

Revenue declined to Rs 485.11 crore versus Rs 587.05 crore.

The company approved buyback of up to 7.69 lakh shares at a price up to Rs 1,300 per share.

It has approved February 12 as the record date for determining the entitlement of the eligible shareholders for the proposed buyback of the equity shares of the company.

Intellect Design Arena | Down 16 percent

Intellect Design Arena has reported a 57.5 percent decline in its Q3FY19 net profit at Rs 13.4 crore against Rs 31.5 crore in the quarter ended September 2018.

Revenue also declined to Rs 374.7 crore from Rs 380.4 crore.

Operating profit or EBITDA was down 37.5 percent at Rs 23.9 crore, while the margin was down at 6.4 percent, QoQ.
First Published on Feb 2, 2019 11:12 am
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