Live: Sensex, Nifty Swing In Open; Bharti Airtel Worst Performer
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Jubilant Foodworks Fall After Report Of Not Passing GST Relief
Shares of Domino’s Pizza operator in India halted a four-day rally and fell as much as 5 percent to Rs 1,326.
The company has been found guilty of not passing on the goods and services tax cut benefit of Rs 41.42 crore on sale of some products and has been directed to deposit the illegal gains with the government, according to a PTI report.
Whilpool Of India Falls The Most In Over Two Years After Jefferies Downgrade
Shares of Whilpool Of India Ltd. fell as much as 13.6 percent, the most since November 2016, to Rs 1,311.55.
International brokerage and research firm Jefferies downgraded the stock to ‘Hold’ from Buy’ and cut its price target to 1,625 from Rs 1,690, implying a potential upside of 7 percent from the current market price.
Trading volume was 34.6 times its 30-day average, Bloomberg data showed. The analysts tracked by Bloomberg had lowered the price target by 4.8 percent in the last three months.
HPCL Extends Decline Ahead Of Earnings Announcement
Shares of the oil marketing company fell for the second day ahead of its results announcement. The stock fell a much as 1 percent to Rs 224.25.
Here’s what analysts tracked by Bloomberg expects the company to report on a sequential basis in its December quarter earnings:
- Revenue seen down 1 percent to Rs 66,707 crore.
- Ebitda seen down 78 percent to Rs 459 crore
- Margin seen at 0.7 percent versus 3.1 percent.
- Net loss of Rs 1 crore versus net profit of Rs 1,092 crore.
- GRM seen at -$0.52 a barrel versus 4.81 per barrel.
Coal India Swings On Buyback Plans
Shares of the world’s largest coal miner fluctuated between gains and losses to trade a little changed at Rs 222.20.
The company approved a buyback of 4.46 crore equity shares or 0.72 percent of outstanding equity shares at Rs 235 per share aggregating up to Rs 1,050 crore, according to its stock exchange filing.
The stock traded at 8.5 times its estimated earnings per share for the coming year, Bloomberg data showed.
Bharti Airtel Worst Performer On Sensex, Nifty
Shares of the wireless telecom operator fell for the second day and declined as much as 4.5 percent to Rs 292.85.
Moody’s Investor Service downgraded the company to junk, on concern that cash-flow generation at India’s second largest telecom operator will remain weak for several quarters to come. (Read the full story here)
Trading volume was almost triple its 20-day average, Bloomberg data showed. The stock has declined 27 percent in the past 12 months, compared to a 4.3 percent gain in the Sensex.