Benchmark indices ended higher for the second consecutive day on August 18 with Nifty briefly surpassing 11,400 levels during the day. At close, the Sensex was up 477.54 points or 1.26 percent at 38,528.32, and the Nifty was up 138.30 points or 1.23 percent at 11,385.40. About 1.860 shares advanced, 886 shares declined, and 132 shares remained unchanged.
KNR Constructions | CMP: Rs 241.50 | The stock jumped 6 percent after the company announced its June quarter earnings. Q1 consolidated net profit was up 8.8 percent YoY to Rs 46.68 crore against Rs 42.89 crore, while revenue was down at Rs 522.52 crore against Rs 530.71 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) was up 12.3 percent at Rs 130.1 crore and the margin was up at 24.9 percent YoY.
Birlasoft | CMP: Rs 172.20 | The share price surged over 14 percent after the company formed a global strategic cloud alliance with Microsoft. The company announced a global strategic cloud alliance with Microsoft to help its clients to accelerate their digital journey, as per BSE release.
CG Power and Industrial Solutions | CMP: Rs 14.60 |The stock gained over 4 percent after Singularity Holdings acquired 35 lakh shares of the company at Rs 13.95 per share on the NSE and Blue Diamond Properties bought 4,12,93,778 shares of Rs 13.97 per share on the BSE.
GPT Infraprojects | CMP: Rs 30.75 | The share price jumped over 10 percent after the company bagged a Rs 196.30-crore order for the Metro Railway project in Kolkata. The Railway Vikas Nigam Limited, Kolkata contract includes the construction of Metro Railway Viaduct from P276 to P314 including Mominpur Station and Majerhat Station and Ramp at Joka Depot end, as per a company release.
Vascon Engineers | CMP: Rs 10.90 | The share price fell over 5 percent after the company reported a consolidated net loss of Rs 37.3 crore against a profit of Rs 5.7 crore in the year-ago. Consolidated revenue went down 66.8 percent YoY to Rs 43.4 crore against Rs 130.6 crore. Consolidated EBITDA loss was at Rs 28.7 crore against EBITDA of Rs 4.4 crore.
Vedanta | CMP: Rs 127 | The stock ended in the red after Madras High Court on August 18 rejected Vedanta Resources Plc’s petition to challenge the March 2018 closure order by the Tamil Nadu government of Sterlite Copper smelter plant in Tuticorin, about 610 km from Chennai, in March 2018.
Petronet LNG | CMP: Rs 258.50 | The share price gained over a percent after Q1 earnings beat estimates. The company for the quarter ended June 2020 reported an 11 percent YoY decline in consolidated net profit to Rs 499.79 crore compared to Rs 561.94 crore in the year-ago. Global research and broking firm Morgan Stanley has maintained its overweight call on the stock with a target of Rs 321 per share.
Zee Entertainment Enterprises | CMP: Rs 174.70 | The stock gained over 2 percent. The company declared its June quarter results after market hours wherein consolidated net profit went down 94.3 percent YoY to Rs 30.4 crore against Rs 530.6 crore. Consolidated revenue was down 34.7o percent YoY to Rs 1,312 crore against Rs 2,008 crore.
SBI Cards and Payment Services | CMP: Rs 824.65 | The stock was up over 2 percent after stakeholder relationship committee of the company approved the allotment of 5,000 fixed-rate, unsecured, rated, taxable, redeemable, non-convertible debentures of the face value of Rs 10,00,000 each aggregating to Rs 500 crore on private placement basis.
Telecom stocks end mixed: Share price of telecom companies ended mixed with the Supreme Court hearing the matter pertaining to the repayment of adjusted gross revenue (AGR) dues by telecom companies. A bench comprising Justices Arun Mishra, S Abdul Nazeer and MR Shah is hearing the case, CNBC-TV18 has reported. Bharti Airtel gained a percent while Vodafone Idea shed a percent. Shares of Rcom jumped almost 5 percent while that of Tata Comm gained 3 percent.
