Gainers & Losers: 10 stocks that moved the most on January 12 Nifty PSU Bank Index added 6% with Nifty Bank, auto, infra and energy rose 1% each. However, Nifty pharma index shed 1% and FMCG index was down 0.5%. BSE Midcap and Smallcap indices added 0.4% and 0.2%, respectively.
January 12, 2021 / 04:49 PM IST
The benchmark indices rallied for the third consecutive day and ended at fresh record highs with Nifty above 14,550. At close, Sensex was up 247.79 points or 0.50% at 49,517.11, and Nifty was up 78.70 points or 0.54% at 14,563.50.
Tata Motors | CMP: Rs 237.25 | The stock price jumped over 7 percent after CLSA retained buy rating with target at Rs 270 per share. JLR Q3 retail volume improved 13 percent QoQ and share of EVs rose to 12 percent. JLR retail sales was broadly in-line with monthly tracker, it said. CLSA believes that JLR recovery should drive strong FCF generation and deleveraging for the company and continues to forecast a sequential volume recovery for JLR. Tata Motors remains our top pick in the sector, it added.
Karnataka Bank | CMP: Rs 67.45 | The share price jumped over 5 percent after the company posted robust Q3 numbers. Its Q3 net profit rose 10 percent YoY to Rs 135.4 crore versus Rs 123.1 crore and net interest income rose 20.8 percent at Rs 614 crore against Rs 507.7 crore. Its net NPA was 1.74% versus 2.21% and gross NPA 3.16% versus 3.97%, QoQ. In the absolute term, gross NPA was Rs 1,706.6 crore against Rs 2,188.8 crore. Provisions stood at Rs 214.2 crore versus Rs 322.1 crore (QoQ) and Rs 314.7 crore (YoY).
Bharti Airtel | CMP: Rs 568.75 | The stock was up 4 percent after research firm HSBC retained buy call on the stock and has raised the target to Rs 650 from Rs 570 per share. It is of the view that the key catalyst would be rise in Mobile ARPU adding that ARPU is to improve on high value subscribers and migration from 2G to 4G. HSBC feels that potential tariff hikes in FY22 will also aid ARPU adding that spectrum supply is abundant in the upcoming auction.
GAIL (India) | CMP: Rs 142.05 | The stock price rose over 4 percent after the company is going to consider buyback of shares on January 15. The meeting of the board of directors of the company will be held on January 15, 2021, to consider the proposal of buyback of the fully paid-up equity shares of the company of face value of Rs 10 each. Board will also consider the declaration of interim dividend on the equity shares of the company for the financial year 2020-21.
Force Motors | CMP: Rs 1,417 | The share price gained over 3 percent after the company board approved to raise up to Rs 500 crore via NCDs. The board of directors in its meeting held on January 11 approved issuance of non-convertible debentures (NCDs), up to Rs 500 crore, through private placement in one or more tranches.
Tata Communications | CMP: Rs 1,090 | The share was up 2 percent on January 12. Rakesh Jhunjhunwala bought shares of Tata Communications in the December quarter of FY21, data available with BSE showed. Data available with BSE showed Jhunjhunwala's wife Rekha Jhunjhunwala held 32,00,687 shares or a 1.12 percent stake in Tata Communications at the end of Q3FY21. Additionally, mutual funds (MFs) raised their stake in the company to 11,76,747 shares (0.41 percent) during the December quarter from 10,97,017 shares (0.38 percent) in the September quarter.
Steel Strips Wheels | CMP: Rs 659.25 | The stock price ended in the green after the company reported a net profit of Rs 28.7 crore in the quarter ended December 2020 against Rs 6.3 crore in the year-ago. Revenue jumped 52.7 percent at Rs 524.5 crore against Rs 343.6 crore. Steel Strips reported EBITDA which was up 53.5 percent YoY at Rs 65.5 crore against Rs 42.7 crore, while EBITDA margin stood at 12.5 percent against 12.4 percent.
Tata Chemicals | CMP: Rs 525.20 | The share price jumped 5 percent on January 12. The company is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at Rs 450 crore (USD 61 million) at a minimum, Bloomberg reported. The board is set to discuss the potential offer as soon as this month. Negotiations are ongoing and could still fall apart, sources said.
Embassy Office Parks | CMP: Rs 356.10 | The stock was up over a percent after the company said its board approved raising up to Rs 2,600 crore through issuance of non-convertible debentures (NCDs) on a private place basis to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru.
R.P.P. Infra Projects | CMP: Rs 68.80 | The stock gained 2 percent after the company bagged new work order from the Highways Department. "RPP Infra Projects Limited is pleased to announce a new work order for an amount of Rs 231.77 crore from the Highways Department for “Chennai Kanyakumari Industrial Corridor Projects,” the company said in an exchange filing.