Phoenix Mills, Vodafone Idea, NMDC: Three stocks that outperformed in the week ending October 13

During the week ending October 13, bellweather indices S&P BSE Sensex and Nifty 50 gained 0.86 per cent and 1.25 per cent respectively. Gainers in the sectoral indices have been BSE Realty (4.1 per cent) BSE Auto (2.9 per cent) and BSE FMCG (1.8 per cent).

BSE Teck (0.9 per cent) and BSE IT (1.3 per cent) have been major losers during the last week . Among the BSE 500 stocks, the top gainers with fundamental news driving the shares were Phoenix Mills, Vodafone Idea, NMDC .

Phoenix Mills

The stock of real estate developer Phoenix Mills shot up by around 12 per cent driven by positive outlook amid strong  expected quarterly results.

The company’s estimated retail collections witnessed a y-o-y increase of 23 per cent, amounting to Rs 638 crore. The total retail consumption also surged by 20 per cent, reaching ₹ 2,637 crore, as per the company’s update. Further, the stock received Overweight rating from Morgan Stanley which expects a sustained rental growth to enable the retail and residential space developer to deliver 20 percent income growth.

The stock is currently trading at a trailing P/E of around 42 times.

Vodafone Idea

The stock of Vodafone Idea gained by around 10 per cent driven by SC nod to hear its plea that there were artithmetic errors in computation of AGR dues.

The company has filed a curative petition in the Supreme Court in the Adjusted Gross Revenue (AGR) case. The company says that the penalty imposed on the company by the Supreme Court in its decision of 2019 and the amount of interest on penalty are so that it threatens the company’s existence. The company is contesting some of the AGR dues and penalties in this plea.  The apex court has agreed to consider the matter.

Vodafone Idea trades at a one year forward EV/EBITDA of 15 times.

NMDC

The stock of PSU mining company NMDC gained nearly 10 per cent driven by buzz around approval of royalty rates for mining.

The cabinet has approved the royalty rates for mining of three critical and strategic minerals - Lithium, Niobium and rare earth elements. The royalty rates have been fixed between 1% to 3% of their respective selling price. The cabinet has fixed royalty rates lower as these minerals have assumed utmost importance in India’s economic advancement and national security. These critical minerals are important as the country move towards its carbon neutrality goals.

The stock of NMDC is currently trading at a trailing P/E of around 8.07 times.

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