Domestic stocks markets were trading with minor losses in the early noon deals of Tuesday, January 25, 2022. At 12:25 pm, the S&P BSE Sensex was trading at a loss of 240.22 points or 0.42% at 57,251.29. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The Nifty 50 index was down 53 points or 0.31% and was trading at 17,096.10. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of some of such stocks:

Buzzing Stocks

Just Dial: Up 6.53%.

Sharda Cropchem: Up 16.81%.

Repco Home: Up 3.68%.

Varroc Engineering: Up 4.02%.

Shriram Properties: Up 2.44%.

PTC India: Up 4.64%.

PVR: Up 4.41%.

Bharat Dynamics: Up 3.67%.

Triveni Turbine: Up 9.74%.

Tarsons Products: Up 3.05%

Data Patterns: Up 2.34%.

Banking Stocks: On a move. Stocks like Axis Bank - up 5.44%, Federal Bank - up 5.33%; Bank of Baroda - up 3.78%; J&K Bank - up 3.17%; SBI - up 2.83%; IndusInd Bank - up 2.47%; PNB - up 2.37%; RBL Bank - up 2.29%; Bandhan Bank - up 2.18% and IDFC First Bank - up 1.80% were trading with gains.

Auto Stocks: On a move. Stocks like hero MotoCorp - up 2.01%; Bajaj Auto - up 1.41%; TVS Motor - up 1.31%; Eicher Motors - up 1.19% and Tata Motors - up 1.07% were trading with gains.

Oil & Gas Stocks: On a move. Selective stocks like Oil India - up 2.07%; Hindustan Petroleum - down 1.38%; BPCL - down 1.37% and Chennai Petroleum - Up 2.21%were trading with gains.

Logistic Stocks: On a move. Stocks like Mahindra Logistics - up 6.36%; Gati - up 4.39%; VRL Logistics - up 3.22% were trading with gains.

Metal Stocks: On a move. Stocks like Welspun Corp - up 3.17%; National Alumnium - up 3.06%; Coal India - up 1.86%; JSW Steel - up 1.21%; NMDC - up 1.19% and Hindalco - up 0.78% were trading with gains.

NBFCs: On a move. Stocks like Spandana Sphoorty - up 3.16%; Equitas Holdings - up 4.32%; Ujjivan Financial - up 2.37% and Muthoot Finance - up 2.13% were trading with gains.  

Sugar Stocks: On a move. Stocks like Magadh Sugar - up 5.67%; Triveni Engineering - up 5%; Dwarikesh Sugar - up 4.24%; Avadh Sugar - up 4.14%; Dalmia Bharat Sugar - up 3.14%; Dhampur Sugar - up 2.59% and Balrampur Chini - up 2.33% were trading with gains.

Fertiliser Stocks: On a move. Stocks like FACT - up 4.25%; Zuari Agro - up 3.52%; Chambal Fertilizer - up 3.14%; Deepak Fertiliser - up 2.88%; SPIC - up 2.45%; GSFC - up 1.48%; GNFC - up 2.09% and RCF - up 1.63% were trading with gains.

New-Age Stocks

MapmyIndia: Up 3.26%.

Latent View: Up 2.88%.

Zomato: Up 8.48%.

Nykaa: Down 4.45%.

Nazara Technologies: Down 5%.

Falling Stocks

Jubilant FoodWorks: Down 1.78%.

Max Financial: Down 2.11%.

Wipro: Down 1.62%.

Bajaj Finance: Down 1.51%.

Bajaj Finserv: Down 1.27%.

Astral: Down 1.44%.

Shriram City Union: Down 1.63%.

HDFC Bank: Down 1.46%.

IT Stocks: Declining. Stocks like Mindtree - down 2.16%; Wipro - down 1.89%; Infosys - down 1.47%; L&T Infotech - down 0.82% and Tech Mahindra - down 0.80% were trading in a negative territory.

Q3FY22 Earnings Reactions

 

Axis Bank: Up 5.44%. Private sector lender Axis Bank on Monday reported a 3.2x YoY rise in the profits at Rs 3,614 crore for the quarter ended December 31, 2021. 

It had posted a profit of Rs 1,116.6 crore in the corresponding quarter last year. The bank's net interest income was up 17% YoY to Rs 8,653 crore compared to Rs 7,373 crore posted last year. 

The lender’s total provisions and contingencies stood at Rs 1,335 crore, down 64.46% y-o-y, from Rs 3757 crore posted last year. The bank’s gross non-performing assets (NPAs) ratio –bad loans as a percentage of gross advances -- were at 3.17% in Q3FY22 compared to 3.53% posted in Q2FY22. 

The net NPA ratio was at 0.91% in the period under consideration compared to the 1.08% posted in September 2021 quarter. The bank’s gross slippages in Q3FY22 stood at Rs 4,147 crore as compared to Rs 5,464 crore during Q2FY22. Axis Bank’s advances grew 17% YoY and 7% QoQ as of December 31, 2021. Retail loans grew 18% YoY and 6% QoQ. Its SME loans were up 20% YoY and 9% QoQ while corporate advances grew 13% Yoy and 7% QoQ. In addition, the bank has issued more than 0.77 million credit cards in Q3FY22, the highest ever for any quarter while credit card spends up 52% YOY & 22% QOQ.

 

SBI Card: Up 3.58%. The credit card company and payment solutions provider has reported an 84% YoY rise in the profits at Rs 386 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 210 crore in the corresponding quarter last year. 

The company's revenue from operations grew 20% YoY to Rs 2,890 crore in the reported quarter compared to Rs 2,408 crore posted last year. The increase in revenue is primarily due to higher income from fees and services in Q3 FY22, SBI Cards said. The net interest margin of the SBI Card stood at 14% in Q3FY22 against 14.5% posted in Q3FY21. 

The credit card company's gross NPA declined to 2.4% in December 2021 quarter compared to 3.36% posted last year. The Net NPA fell to 0.83% against 0.91% posted last year. The total operating cost increased to Rs 1,719 crore for Q3FY22 as compared to Rs 1,348 crore recorded in Q3FY21. The increase is due to higher business volumes and festive campaigns in the December 2021 quarter. 

Besides, the cards in force stand at 1.32 crore compared to 1.15 crore, up 15% YoY and 5% QoQ. Spends stand at Rs 55,397 crore compared to Rs 37,797 crore, up 47% YOY and 27% QoQ. Receivables stands at Rs 29,129 crore against Rs 25,749 crore, up 13% YoY and 9% QoQ. Retail spending increased 36% at Rs 42,417 crore while corporate spends grew 93% at Rs 12,900 crore.

 

Chennai Petroleum: Up 2.21%. Petroleum refineries company has reported a consolidated profit of Rs 232 crore for the quarter ended December 31, 2021, compared to a profit of Rs 61.05 crore for the previous quarter ended September 30. 2021. Revenue (net Excise) grew 12.2% QoQ to Rs 9,940 crore compared to Rs 8,856 crore. EBIDTA grew 78.5% QoQ to Rs 546 crore against Rs 306 crore posted in September 2021 quarter. Margin improved to 5.5% in Q3FY22 compared to 3.5% posted in Q2FY22.

 

Deepak Nitrite: Down 4.71%. Chemical firm Deepak Nitrite has reported a 12% YoY rise in the consolidated profit at Rs 242 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 217 crore in the corresponding quarter last year. The company's revenue from operations grew 39% YoY to Rs 1,722 crore compared to Rs 1,235 crore posted last year. EBITDA rose 5% YoY to Rs 351 crore in the reported quarter against Rs 336 crore posted last year. Its margin declined to 20.4% in Q3FY22 against 27.1% posted in Q3FY21.

 

Ramco Cement: Down 5.34%. The company has reported a 58.9% YoY decline in profits at Rs 82.6 crore for the quarter ended December 31, 2021. It has posted a profit of Rs 201 crore in the corresponding quarter last year. 

Revenue from operations grew 15.7% YoY to Rs 1,539.1 crore in the reported quarter against Rs 1,339 crore posted last year. 
The company's EBIDTA fell 41.8% YoY to Rs 230.9 crore compared to Rs 397 crore posted last year. The EBITDA margin contracted to 14.9% in Q3FY22 from 29.6% posted in Q3FY21. 

Ebitda/Ton declined 49.3% to at Rs 768 from Rs 1,515.6 . The rapid increase in the price of pet coke and coal showed pressure on the margin. Due to weak demand, the price of cement came under heavy pressure in December. 

Since the fuel, prices have peaked out during this quarter the power & fuel cost per ton of cement for Q3 has sharply increased by Rs 582 per ton YoY to Rs 1,380 per ton from Rs 818 per ton in Q3 of PY. Power and Fuel cost as % of Revenue 26.8% against 16%.

 

Shriram Transport Finance: Down 2.15%. Commercial vehicle financier has reported a 6.5% YoY decline in the profit at Rs 681 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 728 crore in the corresponding quarter last year. 

The company's revenue from operations grew 9% to Rs 4,832 crore in the reported quarter compared to Rs 4,443 crore posted last year. Its net interest income (NII) grew 11% to Rs 2,388 crore compared to Rs 2,148 crore posted last year. 

Total asset under management (AUM) grew 8.4% YoY to Rs 1.24 lakh crore compared to Rs 1.15 lakh crore posted last year. Shriram Transport's gross NPA grew to 8.4% in Q3FY22 compared to 7.82% posted in Q3FY21. The net NPA grew to 4.36% in the reported quarter compared to 4.18% posted last year. 

The collection grew to 101% in Q3FY22 against 99% posted in Q2FY22.

IndiaMART InterMESH: Down 10.47%. The company has reported a 14% QoQ decline in the profit at Rs 70 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 82 crore in the previous quarter ended September 30, 2021. The company's revenue from operations grew 3% QoQ to Rs 188 crore compared to Rs 182 crore posted in the previous quarter. Its EBIDTA fell 5% QoQ to Rs 79 crore in December 2021 quarter compared to Rs 83 crore posted in September 2021 quarter. Margins contracted to 42% in Q3FY22 compared to 46% posted in Q2FY22. 

Besides, during the quarter IndiaMART InterMESH acquired a 7.7% stake in ‘Mynd Solutions Private Limited’ which operates a receivables exchange under the brand name of ‘M1xchange’. It also acquired a 26% stake in 'Edgewise Technologies Private Limited" which offers AI-driven omnichannel inventory and warehouse management solutions to merchants under the brand name of 'EasyEcom". In addition, the company has invested Rs 61.55 crore in Simply Vyapar Apps. The company is in the business of GST billing software.

Burger King: Down 1.62%. Quick service restaurant chain Burger King India Ltd has reported narrowing of net loss to Rs 15 crore for the quarter ended on December 31, 2021. It had posted a net loss of Rs 29.3 crore in the corresponding quarter of the previous fiscal year. The company's revenue from operations grew 72% YoY to Rs 280 crore compared to Rs 163 crore posted last year. 

EBITDA grew 116% to Rs 32.8 crore compared to Rs 15.2 crore posted last year. Its margin grew to 11.7% in Q3FY22 compared to 9.3% posted in Q3FY21. Besides, the company has completed the acquisition of an 83.24% stake at Enterprise Value of USD 183 Mn (on a cash-free and debt-free basis for 100% of the shares of BK Indonesia). 

During the quarter, Burger King added 20 restaurants and as of December 31, its total restaurant count was 294. According to the company, presently 9 restaurants are under construction and 65 are in pipeline.

Zensar Technologies: Down 1.13%. The software company has reported a 3.6% QoQ decline in the consolidated profit at Rs 91 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 94.4 crore in the previous quarter ended September 30, 2021. 

The company's revenue from operations grew 4.9% QoQ to Rs 1,103 crore compared to Rs 1,051 crore posted in September 2021 quarter. Its revenue in dollar terms grew 3.7% to $14.71 crore compared to $ 14.19 crore. EBIT fell 2.4% to Rs 112 crore compared to Rs 114.7 crore posted in the previous quarter. 

Margin stood at 10.2% in Q3FY22 against 10.9% in Q2FY22. The company's constant currency (CC) grew 4.7% QoQ. Besides, Zensar Technologies has declared an interim dividend of Rs 1.5 per share. Its attrition was at 26.7% QoQ against 23.2%. Mr Navneet Khandelwal has tendered resignation from the post of CFO due to personal reasons w.e.f January 31, 2022.

Stocks in News

SKM Egg: Up 6.89%. UAE has lifted the ban on the import of eggs from India after a decade, thereby SKM Egg Products commenced its First Export of Fresh eggs to Dubai during January 2022 as its poultry farm is registered under compartmentalization and the approval to UAE is based on the audit by the UAE authorities which is a new milestone in the Company's career.

BPCL: Up 1.66%. BPCL has emerged as the successful bidder in 6 Geographical Areas (GA) in 19 districts, for setting up City Gas Distribution (CGD) Networks, post evaluation of technical and financial bids, in the recently concluded 11th bidding round of PNGRB. After the announcement of results of bidding, BPCL's committed investment in the CGD network, on a standalone basis, would increase to over Rs 22,000 crore for the development of 23 GAs, including Rs 10,000 crore for the 6 new GAs.

Bharti Airtel: Up 3.96%. India’s second-largest telco has said its board will meet on January 28, 2022, to consider raising funds via a preferential share issue to investors other than its promoter group.

Vodafone Idea: Up 5.02%. (Concall takeaways). The company may increase the tariff this year. It may complete the fundraising process by March 2022. The company gave information in the analyst call.

Control Print: Up 3.96%. Control Print Limited receives USFDA 510(K) Clearance for commercial distribution of 3 ply surgical masks in the United States.

Lux Industries: Down 20%. Capital markets regulator Sebi on Monday barred 14 entities for indulging in insider trading and ordered impounding ill-gotten gains of Rs 2.94 crore in the matter of Lux Industries Ltd. Those banned by Sebi include Udit Todi, the son of the managing director of Lux, and is currently holding the post of executive director in the company, according to an interim order. 

Udit Todi holds 2.79% stakes in the company. The surveillance alert system of Sebi had detected a suspicious trading pattern in the scrip of Lux around the announcement dated May 25, 2021, regarding the audited financial results for the quarter and fiscal year ended March 31, 2021, wherein a substantial increase in profits both on a quarter-on-quarter as well as a year-on-year basis was observed.