Benchmark indices ended lower for the second consecutive session on January 16. At close, the Sensex was down 168.21 points or 0.28% at 60,092.97 while the Nifty was down 61.80 points or 0.34% at 17,894.80.
2/11
Avenue Supermarts | CMP: Rs 3,680.25 | The stock shed over 4 percent after the company reported that quarterly core profit margins shrunk due to weak demand. The company said its earnings before interest, taxes, depreciation and amortisation (EBITDA) margins fell to 8.34 percent in the third quarter from 9.39 percent a year earlier. It said the decline mainly reflected a change in product mix and weaker-than-expected discretionary non-FMCG sales.
3/11
Varun Beverages | CMP: Rs 1,207 | The scrip jumped over 6 percent after Jefferies retained the 'buy' rating on the stock. The global research firm has maintained its 'buy' call on the stock with a target of Rs 1,540 per share, an upside of over 28 percent from the current market price. According to the research firm, the stock is down 20 percent from the recent peak and trades at 40x CY23E P/E. It expects the company to enjoy industry-leading growth in revenue and earnings.
4/11
Just Dial | CMP: Rs 643.65 | The stock price hit 10 percent upper circuit after the firm reported a 288.4% year-on-year increase in consolidated profit at Rs 75.32 crore for the quarter December FY23, driven by strong operating performance and topline. Revenue from operations grew by 39 percent to Rs 221.4 crore for the quarter YoY. For the nine months ended December FY23, profit grew by 62.2 percent YoY to Rs 79.1 crore and revenue increased by 27.5 percent to Rs 612.2 crore compared to the year-ago period.
RattanIndia Enterprises | CMP: Rs 48.85 | The stock surged over 14 percent after the firm completed the acquisition of 100 percent shareholding in the electric motorcycles company Revolt Motors. Revolt Motors is the highest-selling electric bike in the country with its manufacturing facility in Manesar, Haryana.
6/11
GPT Infra | CMP: Rs 56.15 | The scrip gained 6 percent after the company bagged an order worth Rs 216 crore from Maharashtra Rail Infrastructure Development Corporation Limited, Mumbai including the construction of proposed extensions of Ghatkopar Cable Stayed Road Over Bridge connecting LBS Road junction and Eastern Expressway Junction in Mumbai.
7/11
Bank of Maharashtra | CMP: Rs 33.20 | The share price of Bank of Maharashtra rose over 4 percent after the firm reported a two-fold jump in its standalone profit after tax (PAT) at Rs 775 crore in the quarter that ended December 2022 due to improved asset quality. The Pune-based bank had posted a net profit of Rs 325 crore in the same quarter a year ago. The bank's total income increased to Rs 4,770 crore in the latest December quarter from Rs 3,893 crore in the year-ago period, BoM said in a regulatory filing. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 2.94 percent, as compared to 4.73 percent at the end of the third quarter of the previous fiscal.
8/11
Sula Vineyards | CMP: Rs 374 | The scrip surged 15 percent after the company posted its best-ever quarterly numbers. The country's largest wine producer in a press release said on January 13 that it clocked the highest-ever quarterly sales in the third quarter of the fiscal year 2022-23. The record surge was reported by the Nashik-headquartered company in the sale of its own wine brands, as well as the gross billings generated through its wine tourism business.
L&T Finance Holdings | CMP: Rs 95.05 | The share price rose over 2 percent on January 16. L&T Finance Holdings has reported consolidated profit at Rs 454 crore for the quarter ended December FY23, growing 39 percent YoY. Net interest income grew by 24 percent YoY to Rs 1,693 crore for the quarter with net interest margin (including fees) expanding by 70 bps YoY to 8.8 percent. The company concluded divestment of the mutual fund business and received a sale consideration of Rs 3,485 crore along with a surplus cash balance of Rs 764 crore, thereby aggregating to Rs 4,249 crore.
10/11
Rategain Travel Technologies | CMP: Rs 358.45 | The stock added over 2 percent after the European airline Sky Express selected AirGain to drive expansion in Europe. AirGain is a responsive SaaS solution by RateGain created for commercial teams in airlines to help them make faster and better pricing decisions through its intuitive UI and accurate, real-time price intelligence.
11/11
Bharat Agri Fert & Realty | CMP: Rs 1,155 | The share price jumped over 5 percent after the company said its board will consider a sub-division of equity shares from the face value of Rs 10 per share to Re 1 per share. The board will also consider approval of alteration of the capital clause of the memorandum of association and any other business with the permission of the chair.
