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Multiplex chains PVR, Inox see some revenue pickup but remain in the red

by 5paisa Research Team 22/10/2021

Two publicly listed movie theatre chains—PVR and Inox Leisure—declared quarterly results on Friday, reflecting a pickup in activity albeit way behind levels in the pre-pandemic era.

The results show also that, even though key states including Maharashtra have now allowed theatres to open, it would take time for the companies to get back on track

The current quarter ending December is usually the best period for multiplexes because of various festivals and holidays that also enable movie producers to schedule their big releases during this period.

PVR stock ended 1.4% down, off the 52-week high it touched earlier this week. Inox Leisure closed 0.2% higher, falling off its one-year high earlier in the day.

PVR

PVR, the largest multiplex chain operator in the country, reported a sharp rise in revenues for the second quarter but it remained in the red even though it managed to bring down its losses.

PVR reported a consolidated net loss of Rs 153.3 crore for the July-September quarter compared with Rs 184.1 crore in the same period last year.

Consolidated revenue more than doubled to Rs 275.2 crore from Rs 110.6 crore in the year-ago period. In the pre-pandemic era, it had revenue of nearly Rs 1,000 crore in the quarter ended September 2019.

The company reported EBITDA of Rs 86.7 crore for the quarter compared with an operating loss of Rs 14 crore a year ago.

PVR’s key highlights

1) Cinema halls reopened from July 30. PVR is now permitted to operate all its screens across India and Sri Lanka.

2) But there are continuing restrictions around capacity caps, timing of operations and vaccination requirements.

3) Telangana, Rajasthan, Karnataka, Andhra Pradesh, Punjab and Gujarat have relaxed capacity restrictions.

4) PVR concluded talks with landlord partners for rental waivers or discounts in respect of about 80% of its properties and achieved savings of 75% in Q2.

5) PVR launched 13 new screens during the period in Mumbai, Gurgaon and Jamnagar. It also re-launched the revamped Priya cinema and PVR Anupam in Delhi during the quarter.

Management Speak

Ajay Bijli, Chairman and Managing Director at PVR, said the company’s priority during the quarter was reopening its cinemas with all the safety guidelines in place so that movie goers could return.

“Looking at the sharp recovery in consumer demand evidenced by box office collections of regional and Hollywood movies during the past two months we are absolutely confident that the strong content line up that is slated for release over the next few quarters will ensure that the business will bounce back sharply,” Bijli said.

Inox Leisure

Inox was hit even harder last year with operational revenue in the quarter ended September 2020 virtually disappearing at just Rs 36 lakh. It has bounced back this year, recording sales of Rs 47.4 crore last quarter.

On a sequential basis, revenue was twice the number of the quarter ended June but a far cry from July-September 2019 when it was over Rs 500 crore.

Its EBITDA loss almost doubled to Rs 60 crore in the same period and net loss widened from Rs 67.8 crore last year to Rs 87.6 crore in the three months ended September 30.

Inox added two cinemas and six screens (all in Jaipur) last quarter. It has 658 screens and is now allowed to operate with 64% occupancy across the country. The firm saw 10% occupancy rate last quarter.

The company said it has renegotiated rent for around 86% of the properties.

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These stocks are likely to be in focus on October 25

These stocks are likely to be in focus on October 25
by 5paisa Research Team 22/10/2021

On Friday, the benchmark indices faded the early gains and ended in negative territory for the fourth straight session. mostly dragged by IT and healthcare names.

At close, the Sensex was down 101.88 points or 0.17% at 60,821.62 level, and the Nifty was down 63.20 points or 0.35% at the 18,114.90 level.

On the sectoral front, except for realty, all the other indices ended in the red. BSE Realty Index outperformed the markets by rising 2.45% on an intraday basis. Brigade Enterprises, Prestige Estates Projects, Godrej Properties and Oberoi Realty were the top-performing stocks within the index.

The broader market indices, BSE Smallcap index and BSE Midcap index, underperformed the benchmark indices by declining 1.09% and 1.18% each.

Watch out for these stocks for in the Monday trading session: 

Kajaria Ceramics - The Board of Directors of the company have approved investments up to Rs 5 crore by way of opening office(s) and/or a wholly-owned subsidiary company of the company in UAE. The proposed wholly-owned subsidiary company may be incorporated in UAE., to market the tiles/sanitaryware/faucet/plywood/laminates in UAE, and/or may also in other international markets. The stock traded 1.23% down in Friday’s trading session and is likely to be in focus on Monday.

PVR - The company announced the quarterly results for the quarter ended September 30, 2021. For the quarter ended September 30, 2021, consolidated Revenue, EBITDA and PAT stood at Rs. 275.2 crore, Rs 86.7 crore and Rs (153.3) crore respectively as compared to Rs 110.6 crore, Rs (14) crore and Rs (184.1) crore for the corresponding quarter last year. During the quarter as the screens re-opened, the company continued with its strategy for keeping operating costs low and maintaining adequate liquidity. The company launched 13 new screens during the year.

52-week high stocks – On Friday, the stocks of HDFC Bank, ICICI Bank, SBI and Kotak Mahindra Bank in the Sensex pack outperformed the index and made fresh 52-week highs. These stocks are likely to be on the watchlist for Monday’s trading session.

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Trending stocks: Keep a close eye on these small-cap stocks for 25 October 2021

Trending stocks: Keep a close eye on these small-cap stocks for 25 October 2021
by 5paisa Research Team 22/10/2021

The following small-cap stocks have made fresh 52-week high today – Rail Vikas Nigam, Jindal Worldwide, Best Agrolife, Art Nirman, Pansari Developers¸Tilaknagar Industries and Sikko Industries.

Frontline benchmark indices Nifty 50 and Sensex ended in the red territory, down by 0.35% and 0.17% respectively. Metal, IT and pharmaceutical stocks underperformed broader markets. BSE Small-cap index corrected by 1.20% to end the session at 28,336.31.

Keep a close eye on these trending small-cap stocks for Monday, 25 October 2021.

Mahindra Holidays and Resorts India – The company has announced its results for the quarter ended 30 September 2021. Financial performance surpassed pre-pandemic levels. It also witnessed the highest ever Q2 profit before tax (PBT) since inception.

Member additions for the quarter stood at 3,943 versus 2,681 in Q2 FY21. The resort operational occupancies came in at 73% as compared to 30% in Q2 FY21. They reported a total room inventory of 4,233 rooms across 78 resorts. The cumulative member base stands at 2,58,815.

On a consolidated basis, total income jumped by 16.1% on a year-on-year basis to Rs 593.3 crore. EBITDA margin expanded by 3.77% on an annual basis and profit after tax (PAT) came in at Rs 59.8 crore, up by 107.7% relative to the same quarter previous year.

To quote Kavinder Singh, Managing Director and Chief Executive Officer of Mahindra Holidays and Resorts India from a filing with the exchange, "Our performance has surpassed pre-pandemic levels driven by a strong focus on the ramp-up of resort operations, after second Covid wave, with world-class safety and hygiene protocols. Our resilient business model along with a focus on member experiences has helped us achieve higher resort occupancies, member additions and PBT growth of 20% YoY along with improvement in cash position." 

KEC International – The company has secured new orders of Rs 1,829 crore across the following businesses:

Transmission and Distribution - The business has secured orders of Rs 656 crore for projects in Europe and the Americas.

Railways - The business has secured orders of Rs 144 crore in the technologically-enabled or emerging metro segments in India.

Civil - The business has secured orders of Rs 935 crore for infra works in the water pipelines and industrial segments in India.

Cables - The business has secured orders of Rs 94 crore for various types of cables in India and overseas.

52-week High Stocks - The following small-cap stocks have made fresh 52-week high today – Rail Vikas Nigam, Jindal Worldwide, Best Agrolife, Art Nirman, Pansari Developers¸Tilaknagar Industries and Sikko Industries. Keep a close eye on these counters on Monday, 25 October 2021.

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Top 5 gainers and losers in the Midcap and Smallcap segments during this week!

Top 5 gainers and losers in the Midcap and Smallcap segments during this week!
by 5paisa Research Team 22/10/2021

Top 5 gainers and losers in the Midcap and Smallcap segments during this week!  

List of top 5 gainers and losers in the Mid-cap and Small-cap segments for the week 14th to  21st October 2021.  

Anxiety took over the exuberance of last week bull rally. Indian indices bore the much dreaded Red for three consecutive trading sessions from Tuesday 20th to Thursday 22nd. The sentiment was largely nervous on account of rising inflation, Fuel prices hiting fresh all-time highs following a surge in global crude oil rates, corporate results garnering mixed reactions . Profit booking was evident concluding the dream run for the market which logged fresh highs last week.

Overall market seemed to have woken up to expensive valuations amid weak global clues and rising input cost undermining the profitability  of corporates. The S& P BSE Midcap and the BSE Smallcap 100  have plunged close to 3.31 per cent and 4.06 percent respectively during the week. On Thursday October 21, S&P BSE Midcap closed at 25817.26 while S& P BSE Smallcap closed at 28680.13.

  

   

Let us have a look at the top 5 gainers and losers in the Midcap space for this week:

National Standard (India) Ltd.  

  

  

21.55  

  

  

Rail Vikas Nigam Ltd.  

  

16.94  

  

CG Power and Industrial Solutions Ltd.  

  

15.94  

  

IRB Infrastructure Developers Ltd.  

  

15.29  

  

Bharat Dynamics Ltd.  

  

14.14  

  

The bull rally was lead by National Standard( India ) Ltd in the mid cap segment . The shares of the company delivered a weekly return of 21.55%. The share price of the company rose from Rs 6400.45 to Rs 7779.70 during the period. The market went into celebratory mood on the stupendous performance for the Q2 FY 22 with increase in Revenue from Rs 310.26 crores to Rs 1600.25 crores, with a gain of  416 percent 877% increase in Net Profit which stood at Rs 1035.46 crores on YoY basis.

National Standard (India) Ltd. operates as a subsidiary of Anantnath Constructions and Farms Private Limited. The company is engaged in the manufacture of bead-wire for tyres and other types of specialised wires. The company is a major exporter of tyre bead-wire and tyre moulds. They have specially developed hi-tensile tyre bead-wire with high tin content in the bronze plate, for the overseas markets. The company has also diversified into the development and construction of residential real estate projects in Mumbai, India.

The top 5 losers from the Midcap segment for this week are as follows:

Angel One Ltd.  

  

-20.01  

  

PNB Housing Finance Ltd.  

  

-18.54  

  

Kama Holdings Ltd.  

  

-14.96  

  

Jubilant Ingrevia Ltd.  

  

-14.81  

  

Navin Fluorine International Ltd.  

  

-14.51  

  

 The laggards of the mid cap segment were led by Angel One Ltd. The shares of the company declined 20.01% from Rs 1638.90 to Rs 1311.00.Angel One Ltd ,formerly known as Angel Infin Private Limited. is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares (through one of its Subsidiaries, AFPL) and financial products distribution to its clients under the brand ‘Angel Broking’.  It has reported 70.19% rise in total revenues for the Q2 FY 2022 on consolidated basis at Rs527.34cr WITH Net profits up by 80.18% on YoY basis. The brilliant performance could not contain the selling sentiment in the market , as such the share continued to fall.

Let us move towards the top 5 gainers and losers  in the Small Cap segment: 

The top 5 gainers in the Smallcap segment for this week are as follows:

Paras Defence And Space Technologies Ltd.  

  

73.93  

  

Ugro Capital Ltd.  

  

27.97  

  

SML Isuzu Ltd.  

  

22.84  

  

Transport Corporation Of India Ltd.  

  

21.39  

  

Shoppers Stop Ltd.  

  

21.08  

  

The top gainer in the Small cap segment was the newbie Paras Defence and Space Technologies Ltd. The buzzing stock surged nearly 132 % from its listing price of Rs 475 and 529% from IPO price of Rs 175. Since it listing on October 1,2021 , it has remained a darling at the bourses. It is one of the leading ‘Indigenously Designed Developed and Manufactured’(IDDM) category private sector companies in India, which caters to four major segments of Indian defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering.

The market reacted positively to the news of that company's board in a meeting approved to incorporate a company in association with Krasny Defence Technologies for maintenance, servicing & repairs of defence equipment & naval vessels. Amid the exuberance, the shares of the company closed at all time high of Rs 1101.40 from the levels of Rs 633.25 during the week registering a gain of 73.93%.

Also noteworthy, Shoppers Stop Ltd , India’s pioneering retailer also closed on Thursday at 52week high of Rs 336.65 rallying up to 21.08 per cent on account of narrowing of its consolidated net loss to Rs 3.68 crore for the September quarter.led by a recovery in sales at Rs 642.07 crores from Rs 296.98 crores on YoY basis.

 

 

  

The top 5 losers in the Smallcap segment for this week are as follows:

GNA Axles Ltd.  

  

-17.32  

  

Antony Waste Handling Cell Ltd.  

  

-16.39  

  

EKI Energy Services Ltd.  

  

-15.48  

  

DCM Shriram Industries Ltd.  

  

-15.25  

  

Neuland Laboratories Ltd.  

  

-14.83  

  

Volatility being the key trait of these small cap stocks, the shares of GNA Axles Ltd. fell from Rs1076.45 to Rs 890.00 registering a loss of17.32% in the stock price. The company is Punjab based manufacturers of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicular segments in India. The company is mainly engaged in manufactures and sells auto components for the four-wheeler industry.

  

  

  

 

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Currency Market Update: USD INR faces exhaustion

Currency Market Update: USD INR faces exhaustion
by 5paisa Research Team 22/10/2021

USD INR is currently consolidating in a downward channel. Breaching would lead to further bullishness in this pair. Read on to find out more. 

The October contract of USD INR witnessed an outstanding rally from 74.06 levels which extended to 75.69 levels. However, the pair seems to be exhausting near 75.69 levels and may likely retest its previous support near 74 levels. The exhaustion was well confirmed by the technical indicators like the Bollinger band which seems to be extended. Whereas, momentum indicator Relative Strength Index (RSI) has given a bearish crossover by trading lower than its 20-day Exponential Moving Average (EMA). 

Therefore, if the pair falls below 74.66 levels, then correction is likely to extend towards 74 levels. But a close above 75.69 levels likely indicate a change in trend, that might pull the pair towards 77.42 and higher.

On Friday, Mario Centeno who is a European Central Bank Governing Council member restated that based on all the analysis at its disposal, the monetary authority still considers the current rise in inflation a temporary phenomenon. At an event in Lisbon, he said, "The analysis is done with the information we have today, next month we will certainly have more information."

EUR INR pair is moving northwards making a series of higher highs and higher lows suggesting a sustained uptrend. However, it is facing resistance at 91 and 92 levels. 

Having said that, this pair has sprung back from the lower band of the Bollinger band indicating that the fall was mere a pullback. Moreover, two weeks back RSI had a positive crossover with its 20-week EMA. This suggests that the pullback might be over now. Today, it is hovering near its 20-week EMA of 46.

GBP INR had an excellent up move since July 2019. From April 2021 it has moved into a consolidation. It is presently trading at 103 and has resistance placed at 104 and 105 levels. On the downside, the support is placed at 99.60 and 98.73 levels.

However, the RSI is showing good strength as it has started to move up and is hovering above the 50 mark indicating bullish momentum going forward. Not just that, but it has a positive crossover with its 20-week EMA.

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In focus: Rail Vikas Nigam all set to skyrocket?

In focus: Rail Vikas Nigam all set to skyrocket?
by 5paisa Research Team 22/10/2021

After almost consolidating for nine months, Rail Vikas Nigam Ltd. gave a breakout. Is it all set for a jump? Let’s find out.

In the last one year, Rail Vikas Nigam Ltd (RVNL) has surged by about 100% and has outperformed Nifty 50 by close to 50%. If we look at the performance of the stock on a year-to-date (YTD) basis, then the stock has jumped around 50%, whereas benchmark indices have witnessed an upside of 30%.

The stock has been in an uptrend from March 2020 to January 2021 post which it entered into a consolidation. It remained in consolidation for almost nine months before giving breakout this week on weekly charts with increased volumes. This week the stock has rallied over 17%. Moreover, the stock rose to a fresh all-time high today and closed with gains of around 18%.

Looking at momentum indicators such as the Relative Strength Index (RSI), it certainly seems overheated and moved into overbought territory. It is hovering at 80.6 levels, whereas its 20-week Exponential Moving Average (EMA) is at 56.78. On the other hand, Moving Average Convergence and Divergence (MACD) has made a positive crossover in the positive territory.

Rate of Change (ROC) is supporting the breakout as on weekly basis it has ascended from 3.37 to 53.2 showing strength. Also, the Average Directional Index (ADX) that is used to confirm the direction of the trend, is around the level of 40 supporting the strength of the current bullish momentum. Plus, the Bollinger band certainly indicates a possible pullback.

Rail Vikas Nigam Limited is under the ownership of Indian Railways, Ministry of Railways, Government of India. It acts as an umbrella Special Purpose Vehicle (SPV) to undertake project development, mobilisation of resources, etc.

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