Life Insurance Corporation | CMP: Rs 603.85 | The scrip was up close to 2 percent on reports that the company plans to pay dividends or issue bonus shares to shareholders. The state-owned insurer is reportedly planning to transfer nearly $22 billion from policyholders' funds into a fund earmarked to pay dividends or issue bonus shares. The move is aimed at shoring up both its own net worth and investor confidence, according to a Reuters report.
Bharti Airtel | CMP: Rs 832 | The stock ended higher by almost 2 percent. Its consolidated net profit for the September quarter rose 89 percent to Rs 2,145.2 crore from Rs 1,134 crore a year back. The figure was in line with analysts' projections. Its total revenue came in at Rs 34,526.8 crore, up 22 percent from Rs 28,326.4 crore reported in the corresponding quarter last year. Analysts had estimated a 75 to 110 percent year-on-year (YoY) growth in net profit while revenue growth was pegged at around 20 percent.
Gland Pharma | CMP: Rs 1,787 | The stock price was down over 4 percent on fears of a likely distress sale of stake by its promoter entity Fosun Pharma Industrial Pte, dealers said. Fosun Pharma holds 57.86 percent of Gland Pharma, which has a strong presence in injectables export to regions like the US and Europe. Fosun International was recently downgraded deeper into 'junk' rating by credit rating agencies as the storm in the Chinese real estate market swept other sectors of the economy, according to a report by Forbes magazine.
Bandhan Bank | CMP: Rs 239.40 | The share price declined over 9 percent on October 31. The private sector lender posted a net profit of Rs 209 crore for the September quarter against a loss of Rs 3,008 crore a year ago, far below Street expectations. Net interest margin (NIM) slipped 100 basis points quarter-on-quarter to seven percent from eight percent. Asset quality showed very little improvement with gross net performing assets (NPA) at 7.2 percent versus 7.3 percent a quarter ago and net NPA flat at 1.9 percent. With slippages during the quarter in review at Rs 3,954 crore, analysts expect credit costs, which stood at 5.3 percent as against 2.7 percent in the June quarter, to remain high. Credit Suisse has trimmed the target price on the stock to Rs 330 from Rs 360. It expects credit costs to moderate in the second half of this fiscal but has cut FY23-25 EPS estimates by 9-19 percent.
Dr Reddy's Laboratories | CMP: Rs 4,427.45 | The scrip ended in the red on October 31. The company reported 12 percent growth in consolidated post-tax profit at Rs 1,113 crore during the September quarter defying analysts who had expected a drop in the bottom line. The drug firm reported a growth of 9 percent in consolidated revenues at Rs 6,306 crore in the September quarter. Sales from the North American market, nearly 50 percent of overall sales, grew 48 percent to Rs 2,800 crore during the quarter under review. With an outperform call on the stock, global brokerage Macquarie said, "Revlimid generic is living up to the expectations as September quarter numbers were better than expected. Management expects continued contribution from Revlimid in upcoming quarters." It has a target price of Rs 4,915 per share.
Bharti Airtel | CMP: Rs 832 | The stock ended higher by almost 2 percent. Its consolidated net profit for the September quarter rose 89 percent to Rs 2,145.2 crore from Rs 1,134 crore a year back. The figure was in line with analysts' projections. Its total revenue came in at Rs 34,526.8 crore, up 22 percent from Rs 28,326.4 crore reported in the corresponding quarter last year. Analysts had estimated a 75 to 110 percent year-on-year (YoY) growth in net profit while revenue growth was pegged at around 20 percent.
Gland Pharma | CMP: Rs 1,787 | The stock price was down over 4 percent on fears of a likely distress sale of stake by its promoter entity Fosun Pharma Industrial Pte, dealers said. Fosun Pharma holds 57.86 percent of Gland Pharma, which has a strong presence in injectables export to regions like the US and Europe. Fosun International was recently downgraded deeper into 'junk' rating by credit rating agencies as the storm in the Chinese real estate market swept other sectors of the economy, according to a report by Forbes magazine.
Bandhan Bank | CMP: Rs 239.40 | The share price declined over 9 percent on October 31. The private sector lender posted a net profit of Rs 209 crore for the September quarter against a loss of Rs 3,008 crore a year ago, far below Street expectations. Net interest margin (NIM) slipped 100 basis points quarter-on-quarter to seven percent from eight percent. Asset quality showed very little improvement with gross net performing assets (NPA) at 7.2 percent versus 7.3 percent a quarter ago and net NPA flat at 1.9 percent. With slippages during the quarter in review at Rs 3,954 crore, analysts expect credit costs, which stood at 5.3 percent as against 2.7 percent in the June quarter, to remain high. Credit Suisse has trimmed the target price on the stock to Rs 330 from Rs 360. It expects credit costs to moderate in the second half of this fiscal but has cut FY23-25 EPS estimates by 9-19 percent.
Dr Reddy's Laboratories | CMP: Rs 4,427.45 | The scrip ended in the red on October 31. The company reported 12 percent growth in consolidated post-tax profit at Rs 1,113 crore during the September quarter defying analysts who had expected a drop in the bottom line. The drug firm reported a growth of 9 percent in consolidated revenues at Rs 6,306 crore in the September quarter. Sales from the North American market, nearly 50 percent of overall sales, grew 48 percent to Rs 2,800 crore during the quarter under review. With an outperform call on the stock, global brokerage Macquarie said, "Revlimid generic is living up to the expectations as September quarter numbers were better than expected. Management expects continued contribution from Revlimid in upcoming quarters." It has a target price of Rs 4,915 per share.
