Comments
Shares of Gujarat State Fertilisers and Chemicals (GSFC) today slumped over 6 per cent as the company has posted 54 per cent fall in standalone net profit for the first quarter of this fiscal.
The scrip tanked 5.91 per cent to Rs 69.20 on the BSE.
On the NSE, it plunged 6.17 per cent to Rs 69.15.
State-run GSFC had yesterday posted 54 per cent fall in standalone net profit at Rs 46.30 crore for the first quarter of this fiscal.
The company’s net profit stood at Rs 100.94 crore in the same quarter last year.
GSFC’s net sales declined to Rs 1,082.10 crore in the April-June quarter of 2016-17 from Rs 1,137.27 crore in the year-ago period, the company had said in a BSE filing.
Revenues from industrial products remained lower, while fertiliser sales were marginally up during the quarter.
Ceat
Shares of tyre maker Ceat today fell 3.5 per cent as the company has reported 17.38 per cent dip in consolidated net profit for the first quarter ended June 30.
The scrip lost 3.53 per cent to Rs 852.50 on the BSE.
On the NSE, shares of the company went down by 3.42 per cent to Rs 851.60.
Ceat had yesterday reported 17.38 per cent decline in consolidated net profit at Rs 93.07 crore.
The company had reported a net profit of Rs 112.65 crore during the same period of the previous fiscal.
Net sales of the company, however, rose to Rs 1,460.92 crore in April-June against Rs 1,404.15 crore during the same period of 2015-16, Ceat Ltd had said in a BSE filing.
“Margins have declined largely due to higher investment in the brand and some price drops that were passed on to the consumers,” Ceat Ltd Managing Director Anant Goenka said.
Eicher Motors
Eicher Motors’ scrip today jumped over 6 per cent as the company has posted 58.61 per cent rise in consolidated net profit for the quarter ended June 30.
The scrip soared 6.2 per cent to Rs 22,382.15 — its 52-week high — on the BSE.
On the NSE, shares of the company moved up 6 per cent to touch its one-year peak of Rs 22,376.25.
Eicher Motors had yesterday posted 58.61 per cent rise in consolidated net profit to Rs 376.29 crore for the quarter ended June 30, riding on robust sales across various business verticals.
It had posted a net profit of Rs 237.23 crore in the same period a year ago, Eicher Motors had said in a statement.
The company’s total income from operations stood at Rs 1,555.69 crore for the April-June quarter of 2016-17 against Rs 1,095.89 crore in the year-ago period.
Commenting on Royal Enfield’s performance, Eicher Managing Director and CEO Siddhartha Lal said the company continues to take more orders than its monthly supply.
“Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally,” he added.
Dish TV
Dish TV India rose as the company Chairman says GST will boost margins.
Shares of DTH and teleport services provider rose as much as 3.9 per cent to Rs 97.55.
Despite reporting a 25 per cent drop in June quarter net profit, Chairman Jawahar Goel says the company is optimistic about margin expansion that should result if the Goods and Services Tax Bill is passed.
Kotak Instituitional Equities Research said in a note that the company's improving balance sheet places it well to participate in any consolidation opportunity in the industry.
Out of 28 brokerages covering stock, 24 have rated it "buy” or equivalent and four as “hold".
The stock's median price target is Rs 115, according to Thomson Reuters data.** Noida-based co has estimated PE ratio of 30.35, highest in its sector.
Muthoot Finance
Shares of Muthoot Finance rose nearly 7 per cent today after the company registered a net profit of Rs 270 crore during the first quarter ended June of the current fiscal, up 48 per cent from a year earlier.
The scrip surged 6.7 per cent to touch its one-year high of Rs 340 on the BSE.
On the NSE, shares of the company jumped 6.54 per cent to Rs 340 — its 52-week high.
The gold loan financing company had made a net profit of Rs 183 crore in April-June quarter of 2015-16.
“Retail loans registered an increase of Rs 1,481 crore during the quarter as against Rs 1,000 crore in the last year, translating into an increase in growth rate of 48 per cent,” the company had said in a release yesterday.
Total income also registered an increase of 14 per cent to Rs 1,143 crore in the quarter to June from Rs 1,301 crore in the same period a year ago.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.