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Last Updated : Aug 23, 2016 08:47 AM IST | Source: CNBC-TV18

HPCL, Renuka Sugar, IGL to be in focus on back of earnings

Some of the stocks that should be on your radar are: Housing Development Finance Corporation, NIIT, Hindustan Petroleum Corporation, Shree Renuka Sugars, NTPC, Allcargo Logistics, Indraprastha Gas, Shriram EPC, Healthcare Global Enterprises.

HPCL: CLSA view on HPCL are Downgrade to Sell from Buy. Q1 boosted by inventory gains. Inventory gains made up 49 percent of PBT. Core GRMs came in below our estimate at USD 4.8/bbl; six-quarter low. Expect profit-taking after the recent sharp rally. Increase target price to Rs 1,140 from Rs 1,080.

Shree Renuka Sugars: Renuka Sugars reported a standalone net profit of Rs 3.2 crore for the quarter ended June 30.

The company had posted a loss of Rs 150.2 crore in the year-ago period.

Income from operations rose to Rs 1,629.1 crore in the first quarter of this fiscal from Rs 1,584.8 crore in the corresponding period of the previous year.

Total income increased to Rs 1,644.2 crore during April- June period from Rs 1,591.4 crore in the year-ago period.


The company's total expense declined to Rs 1,550 crore from Rs 1,742.5 crore during the period under review.

NTPC: CLSA view on NTPC are Cash flow will likely remain depressed in FY17. CERC order dismissing company's petition related to coal GCV to hurt sentiment. Maintain Underperform; Target at Rs 165/share.

Allcargo Logistics tepid quarter: Allcargo logistics sees tepid quarter. Topline down by 4.5 percent at Rs 1399 crore versus Rs 1465 crore. Margins stable at 9.5 percent versus 9.4 percent. PAT down 6.5 percent at Rs 62.4 crore versus Rs 66.8 crore.

IGL: Indraprastha Gas Ltd, the sole retailer of CNG in national capital region, reported a 44 percent jump in its June quarter net profit on rise in gas sales and lower interest cost.

Net profit in April-June at Rs 147.72 crore, or Rs 10.57 a share, was higher than Rs 102.32 crore, or Rs 7.32 per share, in the same period a year ago, the company said in a statement here.

IGL said sales volume grew 13 percent to 4.34 million standard cubic meters per day from 3.83 mmscmd a year ago.

"Product wise, CNG recorded sales volume growth of 10 percent, while piped natural gas (sold to households for cooking purpose) recorded sales volume growth of 17 percent in the quarter as compared to last year," the statement said.

Shriram EPC: Shriram EPC subsidiary gets overseas order worth Rs 1,530 crore. Order to construct mill in Oman. Order to get executed over 32 months. Project to be funded by Omani banks.

Healthcare Global: Reliance MF buys 25.6 lakh shares at Rs 210/share. Reliance MF buys 3 percent stake. Healthcare Global is specialist in cancer care; listed in March. 50 percent revenue comes from Karnataka. Company has 35 centres, to add 6 more centres in FY17.

Other stocks in focus are HDFC and NIIT.

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First Published on Aug 23, 2016 08:44 am
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