The benchmark indices ended flat note after a volatile session on February 16. At close, the Sensex was up 44.42 points, or 0.07%, at 61,319.51 and the Nifty was up 20 points, or 0.11%, at 18,035.80.
2/11
Nestle India | CMP: Rs 19,591.95 | The stock price ended in the green on February 16 after the firm posted a 62 percent year-on-year jump in its net profit at Rs 628 crore for the October-December quarter. Net profit stood at Rs 386 crore in the same period last year after an impact of Rs 236.5 crore exceptional loss. Revenue for operations for the December quarter jumped 13.8 percent YoY to Rs 4,257 crore from Rs 3,739.3 crore. On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) came in at Rs 982 crore, higher by 15.4 percent.
3/11
Bharat Electronics | CMP: Rs 97.50 | The share price added 3 percent after the company signed an MoU with Israel Aerospace Industries (IAI) for the domestic manufacture and supply of its LORA weapon system for the Indian military. The state-of-the-art strategic weapon system weapon will be manufactured by BEL, as the prime contractor, based on the workshare arrangement with IAI.
4/11
Hindustan Aeronautics | CMP: Rs 2,663 | The stock jumped over 7 percent after the company signed a contract with Argentinian Air Force for the supply of spares and engine repair of legacy two-tonne class helicopters.
Interglobe Aviation | CMP: Rs 1,897 | The share price declined over 4 percent after 1.7 crore shares, worth Rs 3,221 crore, changed hands in a block deal window on February 16. This indicates a 4.4 percent stake in the company. While the buyers and sellers were not known immediately, it was earlier reported that Shobha Gangwal, the wife of IndiGo co-promoter Rakesh Gangwal, would be offloading some stake. According to CNBC-TV18, the floor price for the block deal was set at Rs 1,875 a share and Goldman Sachs was appointed the broker.
6/11
ONGC | CMP: Rs 155.90 | The stock jumped over 5 percent after the state-run oil and gas major reported a standalone profit of Rs 11,045 crore for the third quarter ended December 2022 (Q3FY23), a growth of 26 percent over the Rs 8,764 crore profit in the year-ago period. However, the profit was down 14 percent from Rs 12,826 crore in the September quarter. The standalone revenue of the company surged 36 percent to Rs 38,583 crore from Rs 28,473 crore in the year-ago period. CLSA has a "buy" rating on the stock with a target price of Rs 225 a share.
7/11
Biocon | CMP: Rs 242.75 | The scrip added 2 percent on February 16. The Bengaluru-based biopharmaceutical company posted a consolidated net loss of Rs 42 crore in the quarter ended December 31, 2022 against a profit of Rs 187 crore in the corresponding period of the previous fiscal year. It notched up a one-time loss of Rs 271 crore during the quarter, mainly owing to professional fees paid for the acquisition of the global biosimilars business of American company Viatris. Jefferies has maintained a 'hold' rating on Biocon while reducing its price target to Rs 260 apiece from Rs 285. It also cut its EBITDA estimates for FY23-25E by 5-17 percent.
8/11
Bharat Dynamics | CMP: Rs 896.55 | The stock jumped over 12 percent after the company announced that it signed 10 agreements with foreign and Indian companies. The company has been showcasing its largest-ever display of products at the Aero India-2023 in Bengaluru. During the event, it signed agreements with companies like Thales, Al Tariq, and Bultexpro, along with collaborations with the Indian Institute of Technology-Madras and Tamil Nadu Industrial Development Corporation.
PI Industries | CMP: Rs 3,375 | The share price gained over 8 percent after the agrochemical company reported a strong Q3FY23, beating street estimates and driving a surge in its stock price. The company’s consolidated net profit for the quarter stood at Rs 352 crore, up 58 percent YoY, due to an increase in operating profit resulting from a favourable product mix and operating leverage. Consolidated Ebitda (earnings before interest, taxes, depreciation and amortisation) stood at Rs 416 crore, up 40 percent YoY, while consolidated revenue from operations was Rs 1,613 crore, up 19 percent year-on-year (YoY).
10/11
Shilpa Medicare | CMP: Rs 262.80 | The share surged over 10 percent after the company's Bengaluru facility for manufacturing and testing of Orodispersible films and Transdermal systems successfully registered with the health ministry of the United Arab Emirates. It will enable the company to register the products (Orodispersible films and Transdermal systems) in UAE for commercialisation, the pharma firm said.
11/11
Dishman Carbogen | CMP: Rs 101.35 | The scrip was up 2 percent on February 16. Dishman Carbogen Amcis said that its wholly owned subsidiary, CARBOGEN AMCIS AG’s manufacturing site in Bubendorf, Switzerland, successfully completed a routine US Food and Drug Administration (FDA) inspection. The inspection was concluded without any major or critical observations.
