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Shares of engineering firm Kalpataru Power Transmission Ltd (KPTL) today surged over 6 per cent after the company bagged new orders of over Rs 1,150 crore in domestic and overseas markets.
Buoyed by the news, shares of the company jumped 6.15 per cent to Rs 226 on the BSE. On the NSE, it soared 6 per cent to Rs 226.90.
The shares ended the session higher by 2.09 per cent at Rs 217.35 on the BSE. On the NSE, it ended up by 1.26 per cent at Rs 216.70.
“KPTL... has secured new orders/notification of award in excess of Rs 1,150 crore,” the company said in a BSE filing today.
The company said it has bagged a Rs 930-crore project for the construction and supply of 225 kv and 90 kv overhead transmission lines in West Africa.
“The project has been awarded to KPTL and its wholly-owned subsidiary Kalpataru Power DMCC and will be delivered by respective entities,” it added.
The second order is for the construction of 220 kv and 132 kv sub-stations, transmission lines and feeder bay work worth Rs 220 crore from Madhya Pradesh Power Transmission Company.
Airtel shares jump on buyback offer
Bharti Airtel’s scrip rose 3 per cent today after the company said its board will consider buyback of equity shares or a final dividend, or a combination of both, at its meeting on Wednesday.
The stock gained 3 per cent to Rs 363.85 on the BSE.
On the NSE, it went up by 3 per cent to Rs 364.
At the closing trade, the stock was up 1.63 per cent at Rs 358.85 on the BSE. On the NSE, it gained 1.66 per cent at Rs 358.95.
The company, however, did not specify the number of shares it wants to buy back.
“The board of directors of the company will consider recommending final dividend for the financial year ended March 31, 2016, or buyback of shares of the company, or a combination thereof, at its meeting scheduled to be held on April 27, 2016,” the company had said in a filing to BSE on Saturday.
As of the quarter ended March 31, 2016, public shareholding of the company stood at 33.21 per cent whereas the promoters held 66.74 per cent.
Zensar Tech slumps
Shares of software services firm Zensar Technologies today plunged nearly 8 per cent after the company reported decline in consolidated net profit for the March quarter.
Shares of the mid-sized IT firm dipped by 7.77 per cent to Rs 919 on the BSE. On the NSE, it tumbled 7.84 per cent to Rs 920.
At 3.30 pm, the stock was down 5.06 per cent at Rs 946 on the BSE. On the NSE, it ended lower by 4.84 per cent at Rs 950.
Zensar Technologies had on Friday reported a marginal dip in consolidated net profit at Rs 70.67 crore for the March quarter, weighed down by lower revenue from its maintenance services business.
The Pune-headquartered firm had posted a net profit of Rs 71.80 crore in the year-ago period.
Its consolidated revenue rose 12.4 per cent to Rs 751.39 crore in the January-March quarter last fiscal from Rs 668.09 crore in the same quarter of 2014-15.
For the entire 2015-16 fiscal, Zensar has reported a net profit of Rs 311.90 crore and revenue of Rs 2,978.04 crore.
Cairn India nosedives
Shares of Cairn India today fell over 5 per cent after the company reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31, 2016.
After a weak opening, the stock further lost 5.11 per cent to Rs 143.65 on BSE.
On the NSE, it went down by 5.11 per cent to Rs 143.90.
The company shares ended the session lower by 4.13 per cent at Rs 145.15 on the BSE and down by 4.52 per cent at Rs 144.80 on the NSE.
On Friday, Cairn India had reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31, 2016 mainly because of impairment loss on goodwill and non-producing oil and gas assets due to drop in oil prices.
The company had reported a net loss of Rs 240.82 crore in the year-ago period, it had said in a statement.
“Due to decline in crude oil prices in the international market, the Group has recorded an impairment on the carrying value of goodwill and some of its non-producing oil and gas assets aggregating to Rs 11,389.63 crore and Rs 284.17 crore respectively,” it said.
The company’s turnover fell 36 per cent to Rs 1,717 crore on lower oil prices.
M&M Financial soars
Shares of Mahindra & Mahindra Financial Services rose 8 per cent today after the company reported a 12 per cent rise in consolidated net profit for the quarter ended March 31, 2016.
The stock climbed 7.97 per cent to Rs 297.50 on the BSE.
On the NSE, it went up by 7.51 per cent to Rs 296.40.
Mahindra & Mahindra Financial Services had on Saturday reported a 12 per cent rise in consolidated net profit at Rs 411.33 crore for the March quarter.
The company had posted a net profit of Rs 367.26 crore in the corresponding quarter of 2014-15.
Total income increased to Rs 1,904.88 crore from Rs 1,680.10 crore in the same period a year ago, it had said in a BSE filing.
On a yearly basis, the Group has posted a net profit of Rs 772.29 crore, down 15.4 per cent.
The company has also recommended a dividend of Rs 4 per equity share to the shareholders for the fiscal 2015-16.
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