Benchmark indices ended the choppy session on February 8 on a positive note. Sensex closed 377.75 points higher at 60,663.79 while Nifty ended 150.20 points higher at 17,871.70.
2/11
Bharti Airtel | CMP: Rs 775 | The scrip ended in the red on February 8. India’s second-largest telecom company missed street estimates, recording a 91 percent surge in consolidated net profit at Rs 1,588 crore for the quarter ended December 2022 from Rs 830 crore a year back, helped by improved realisation along with strong 4G customer additions during the year. However, sequentially, the telecom major saw a drop of 26 percent in net profit. The reported profit also missed analysts' projections who were expecting around 155 percent on-year growth for the third quarter. Its India average revenue per user (ARPU) per month was at Rs 193 during the quarter, the company said, rising 2 percent sequentially and 18 percent annually.
3/11
Zomato | CMP: Rs 53.80 | The share price jumped 9 percent as investors bet on hopes of improved earnings by the company ahead of the release of its quarterly results for October-December, due on February 9. Adding to that, global research and broking firm CLSA's Asia-Pacific Markets' positive growth outlook and expectations of a strong upside potential in the stock also lifted investor sentiment. CLSA Asia-Pacific Markets raised Zomato's earnings estimates for the next two financial years by 4-8 percent due to the company's improved focus on profitability. The broking firm also expects Zomato to continue its march towards profitability in the December quarter.
4/11
Adani Ports | CMP: Rs 603 | The stock price gained 9 percent after Goldman Sachs kept the ‘buy’ rating on the stock with a target price of Rs 840, implying an upside potential of 41 percent from today’s high of Rs 597. The foreign brokerage firm said that the results were in line with its estimates and pointed out that it liked the company’s focus on deleveraging in the near term. For the December quarter, Adani Ports reported a 16.04 percent fall in consolidated net profit for the quarter ended December 2022 at Rs 1,315.54 crore, as against Rs 1,567.01 crore a year back. Revenue from operations for the reporting quarter came in at Rs 4,786.17 crore, up 17.53 percent from Rs 4,071.98 crore in the corresponding quarter a year ago.
5/11
Aurobindo Pharma | CMP: Rs 446 | The scrip added over 6 percent after the drugmaker said its step-down subsidiary Aurolife Pharma has received US Food & Drug Administration (USFDA) approval to manufacture and market Diclofenac Sodium Topical Solution USP. The stock was one of the top midcap gainers. The approved product has an estimated market size of around $487 million for the twelve months ending December 2022, according to IQVIA.
6/11
Escorts Kubota | CMP: Rs 1,983 | The stock ended in the red after the company's net profit went down 6.9 percent at Rs 180 crore against Rs 194.2 crore YoY while its revenue was up 14.7 percent at Rs 2,291 crore against Rs 1,998.3 crore YoY. The firm's EBITDA was down 31.3 percent at Rs 191.3 crore against Rs 278.5 crore.
7/11
Symphony | CMP: Rs 1,045 | The share price gained over 8 percent after the company declared its December quarter earnings. Net profit of the firm was up 85.7 percent at Rs 39 crore against Rs 21 crore (YoY). Its revenue grew 35.1 percent at Rs 277 crore against Rs 205 crore (YoY) while EBITDA jumped 46.7 percent at Rs 44 crore against Rs 30 crore (YoY).
8/11
Adani Wilmar | CMP: Rs 418.80 | The stock hit 5 percent upper circuit on February 8. Net profit of the firm was up 16.5% at Rs 246.2 crore against Rs 211.4 crore. Revenue rose 7.4 percent at Rs 15,438.1 crore against Rs 14,370.9 crore. EBITDA was up 20.2 percent at Rs 605.3 crore against Rs 503.6 crore.
9/11
Graphite India | CMP: Rs 334 | The stock ended in the red after net profit of the firm declined 59.85 percent to Rs 53 crore in the quarter ended December 2022 as against Rs 132 crore during the previous quarter ended December 2021. Sales also fell 20.34 percent to Rs 701 crore in the quarter ended December 2022 as against Rs 880 crore during the previous quarter ended December 2021.
10/11
Intellect Design | CMP: Rs 464.30 | The share price gained over 5 percent after the firm announced collaboration with Amazon Web Services. This will accelerate Intellect’s Go-To-Market strategy around co-build, co-market, and co-sell for IntellectAI, the insurance and wealth line of business, with artificial Intelligence products designed for commercial underwriting, wealth and capital markets.
11/11
Rane Madras | CMP: Rs 472.90 | The scrip surged over 16 percent on February 8. The company reported net profit which came in at Rs 23.7 crore against a loss of Rs 4.3 crore YoY. Its revenue was up 33.2 percent at Rs 583.2 crore against Rs 438 crore YoY while EBITDA came in at Rs 42.8 crore against Rs 12.3 crore YoY.
