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TVS Motors soars 7% on the back of strong Q2 results

TVS Motors soars 7% on the back of strong Q2 results
by 5paisa Research Team 22/10/2021

Plans for investment in EV space lift shareholders’ spirits

On the contrary to the Sensex movement, TVS Motors was trading up and high, driven by the exceptional rise in quarterly results of September 2021. The net sales for Q2 were up by 38% on a sequential basis to Rs 6,483 crore. The EBITDA too witnessed a QoQ jump of 78% to Rs 740 crore. The net profit rose to Rs 233 crore while in the previous quarter it had suffered a net loss of Rs 15 crore. The stock has been the buzzing stock of the day due to its rewarding jump today.

The stock price movement hasn’t been impressive for the last six months. In fact, the stock was trading at the level of around Rs 615 at the beginning of May, as it has been trading around similar levels as of October 22, 2021.

In the Q2 of FY22, it witnessed a 4% YoY growth in sales of two-wheelers of 8.7 lakh units against 8.34 lakh units sold in Q2FY21. The three-wheeler segment grew by 41% in sales volume with sales of 0.47 lakh in the current quarter against 0.33 lakh in Q2FY22. The management expects a further rise in sales especially in the domestic two-wheeler segment with the upcoming festive season. Considering potential growth in EV space, the company is planning to invest about Rs 1000 crore in EV space by incorporating a new wholly-owned subsidiary.

TVS Motor Company is the third-largest two-wheeler manufacturing company in India. Some of the popular products include TVS Jupiter in scooters, TVS Star in motorcycles and TVS King in three-wheelers.

On October 22, 2021, the stock was trending and trading at Rs 617.50, up by 7.15% as of 1:05 pm on the BSE. The stock has a 52-week high of Rs 665.70 and a 52-week low of Rs 407.25.

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Yes Bank Q2 profit surges 74% on lower provisions but net interest income drops

by 5paisa Research Team 22/10/2021

Private-sector lender Yes Bank reported a 74% surge in net profit for the second quarter as provisions for possible loan losses dropped and asset quality slightly improved.

However, the bank’s shares fell as much as 3.9% likely because net interest income decreased.

Net profit for the July-September quarter came in at Rs 225 crore, up from Rs 129 crore a year earlier. Profit was 9.5% higher than Rs 207 crore in the April-June period.

Analysts had widely differed on the bank’s profit projections. While Elara Capital had estimated a profit of Rs 257 crore, Nirmal Bang Institutional Equities had forecast a loss. The average of estimates from analysts polled by Bloomberg was for a profit of Rs 119.3 crore.

The bank’s net interest income dropped 23% to Rs 1,512 crore from Rs 1,973 crore a year earlier. NII was up 8% sequentially from Rs 1,402 crore in the April-June period.

The lender’s shares fell after the results were announced. The shares were down 4.1% at Rs 13.73 apiece in late afternoon trade.

Yes Bank Q2: Other highlights

1) Net interest margin for Q2 was 2.2% compared with 2.1% last quarter.

2) Non-interest income for Q2 climbs 30% to Rs 778 crore.

3) Operating profit falls 46% year-on-year to Rs 678 crore.

4) Net advances at Rs 172,839 crore, up 3.5% from a year earlier and 5.6% sequentially.

5) Total deposits at Rs 176,672 crore, up 30% from a year earlier and 8% sequentially.

6) Gross NPA ratio falls to 15.0% versus 16.9% a year earlier and 15.6% last quarter

7) Net NPA ratio falls to 5.5% versus 5.8% last quarter but rises from 4.7% a year earlier.

8) Provisions decline 65% to Rs 377 crore from Rs 1,078 crore a year earlier.

Yes Bank operating performance

The bank said its core operating profit rose 38% sequentially thanks to wider net interest margins and continued traction in retail and transaction banking fees.

The bank, which was rescued by the Reserve Bank of India last year, made prudent provisioning of Rs 336 crore on a single telecom exposure. It also said that its resolution momentum continues with Rs 987 crore of cash recoveries and Rs 969 crore of upgrades in the second quarter.

The granularity of its loan book is improving, too. Retail loans now account for 54% of its book while corporate loans make up 46%. Its CASA ratio, which indicates the proportion of current and saving accounts, rose 200 basis points sequentially to 29.4%.

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Are PSU Banks on the cusp of change?

Are PSU Banks on the cusp of change?
by 5paisa Research Team 22/10/2021

PSU Banks are up by 20% in the last thirty days. They have outperformed Nifty Bank by a huge margin. Are they going to sustain this outperformance?

One of the trends that is quite visible in the last few days of trading is that banking stocks are outperforming the overall market. Even within banks, state-owned banks are showing better resilience. Banks like Indian Bank and Union Bank are up by 40% in the last thirty days. In the same period, the best performing bank from the private sector has been Federal Bank, whose share price is up by 20%. This better performance in the last one month has helped the PSB stocks to lift last one-year performance also. They are up by 114% in the last year compared to 63.5% by Bank Nifty.

Performance of PSU Banks in last one year and one month.

Symbol  

52week High  

52week Low  

365 day % Change  

30 day % Change  

NIFTY PSU BANK  

2,860.75  

1,244.85  

114.37  

19.26  

INDIAN Bank  

185.75  

57.35  

202.32  

40.51  

J&K BANK  

44.3  

14.05  

173.54  

7.57  

CENTRAL Bank  

29.65  

10.65  

113.95  

7.48  

SBI   

508.7  

185.9  

145.89  

14.18  

Punjab & Sind Bank  

23.75  

10.4  

68.04  

7.6  

UCO BANK  

16.35  

10.75  

15.08  

7.81  

BANK of BARODA  

99.85  

41.05  

121.97  

20.09  

PNB  

48.2  

26.3  

62.32  

15.88  

CANARA Bank  

204.25  

84.35  

122.07  

27.27  

BANK of INDIA  

101.4  

38.2  

50.37  

10.51  

MAHA BANK  

32  

10.85  

85.84  

17.98  

IOB  

29  

9.05  

132.43  

3.37  

UNION BANK  

51.7  

23.45  

101.23  

40.49  

What is driving the banking sector as a whole is their underperformance for a while and good quarterly results. For example, the Bank of Maharashtra saw its profit double in the latest quarter on yearly basis. Besides its asset quality has also improved significantly. There are many cases that are not being resolved such as DHFL, which is helping such bank. Hence, PSBs are likely to continue their superior performance.

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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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