Gainers & Losers: 10 stocks that moved the most on January 23
Among sectors, auto, bank, FMCG, healthcare, oil & gas and information technology were up 0.5-1 percent, while realty and power were down 0.4-0.7 percent
The benchmark indices closed higher on January 23 on gains in IT and banking names. At close, the Sensex was up 319.90 points, or 0.53%, at 60,941.67, and the Nifty was up 90.80 points, or 0.50%, at 18,118.50.
2/11
UltraTech Cement | CMP: Rs 6,860 | The stock tumbled over 4 percent after the company reported a consolidated net profit of Rs 1,062.58 crore for the December quarter, down 37.86 percent from the year-ago period. UltraTech Cement's revenue from operations, however, rose 19.53 percent to Rs 15,520.93 crore from Rs 12,984.93 crore in the corresponding quarter of the last year, the Aditya Birla Group company said on January 21. While the profit missed estimates, revenue was higher than expected. According to a brokerage poll conducted by Moneycontrol, net profit was seen at Rs 1,105.2 crore and consolidated revenue at Rs 15,191.5 crore.
3/11
JSW Energy | CMP: Rs 246.90 | The share price fell over 5 percent after the company reported a 45 percent decline in its consolidated net profit to Rs 180 crore for the December 2022 quarter. Its consolidated profit after tax (PAT) stood at Rs 180 crore, which was lower compared to Rs 324-crore net recorded a year back, the company told exchanges. EBITDA for the quarter was 18 percent lower at Rs 727 crore from Rs 882 crore in the year-ago quarter. HDFC Securities said the valuation looks expensive at Rs 262 (RoE - ~8.9 percent, FY25 P/E – 23.6x, P/BV - 2.0x). It has maintained a "sell" rating, with a stop loss of Rs 186.
4/11
Yes Bank | CMP: Rs 18.15 | The scrip lost over 8 percent as the company's net profit for the December quarter fell 80 percent on-year on the back of provisions made for loans long overdue. Net profit for the quarter came in at Rs 52 as against Rs 266 crore in the year -ago period. Non-tax provisions at Rs 845 crore were higher by 125 percent on-year and 45 percent on-quarter. Foreign brokerage firm Morgan Stanley has an "underweight" call on the stock with the target price cut to Rs 17.5 from Rs 20 a share.
Bandhan Bank | CMP: Rs 248.25 | The stock jumped over 4 percent after global research firms gave a "buy" rating on the stock, with up to 42 percent upside. The lender's non-performing assets improved in the December quarter. Gross non-performing assets (GNPAs) fell 26.23 percent to Rs 6,964.76 crore as against Rs 9,441.57 crore in the same quarter of the previous year. CLSA has a 'buy' call on the stock with the target at Rs 320 a share. The brokerage is of the view that NII missed estimates and overall performance was muted, while SMA book and un-provided stress were down.
6/11
Tanla Platforms | CMP: Rs 674.80 | The share price slipped over 3 percent on January 23. The cloud communications company has recorded a 26.3 percent year-on-year decline in profit at Rs 116.5 crore for the December quarter, dented by lower top line and weak operating performance. Revenue for the quarter at Rs 869.6 crore was down 1.7 percent and EBITDA tanked 25 percent to Rs 151.4 crore with the margin down 550 bps compared from the year-ago period.
7/11
Bharat Bijlee | CMP: Rs 2,696 | The stock price surged over 8 percent after the company's net profit jumped 45.2 percent at Rs 23.1 crore against Rs 15.9 crore (YoY). Revenue was up 20.1 percent at Rs 388 crore against Rs 323.1 crore (YoY) while EBITDA rose 18.2 percent at Rs 32.6 crore against Rs 27.6 crore (YoY).
8/11
Puravankara | CMP: Rs 91.20 | The stock price was up 2 percent on January 23. The firm said that it achieved its highest-ever sales for the third quarter of any year since its inception by clocking Rs 796 crore in sales as per its operational update. This is an increase of 20 percent compared to Rs 666 crores recorded in Q3FY22. The jump in sales was achieved along with a consistent increase in average price realisation. The average price realisation of Rs 7,767/sq ft during Q3FY23 went up by 15 percent compared to the average price realisation in Q3FY22.
Kotak Mahindra Bank | CMP: Rs 1,781.75 | The scrip ended in the green on January 23 after Kotak Mahindra Bank beat the Street estimates with a 31 percent growth in net profit at Rs 2,792 crore for the October-December quarter over the year-ago period. The bank's net interest income surged 30 percent to Rs 5,653 crore in the quarter as against Rs 4,334 crore in the same quarter a year back. CLSA has maintained "outperform" rating on the stock with the target at Rs 2,080 a share. It said Q3 was robust with a big NII beat and growth remained strong. Jefferies has maintained its "buy" rating on the stock with the target at Rs 2,470 a share as the Q3 profit was ahead of estimates with stronger than expected NIM expansion and lower credit cost.
10/11
Axis Bank | CMP: Rs 930 | The share price ended flat. The bank reported its Q3 earnings after market hours on January 23. The private sector lender reported a net profit of Rs 5,853 crore for the December quarter (Q3FY23), a growth of 62 percent year-on-year, beating street estimates comfortably. Its net interest income (NII) rose 32 percent year-on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins. The average of the estimates of seven brokerages polled by Moneycontrol had forecast the net profit at Rs 5,321.5 crore. NII, the core income a bank earns through lending, was expected to grow 25 percent to Rs 10846 crore, the poll said.
11/11
Petronet LNG | CMP: Rs 226.50 | The stock price ended in the green after the firm recorded a 58.6 percent quarter-on-quarter growth in profit at Rs 1,180.5 crore in the December quarter of FY23 on strong operating performance, beating analysts' estimates. Revenue from operations, however, fell by 1.3 percent QoQ to Rs 15,776 crore, but EBITDA grew 43 percent sequentially to Rs 1,675 crore.
