Ajanta Pharma spurted 5.27% to Rs 1,838.15 after consolidated net profit soared 64.2% to Rs 176.63 crore on 15% increase in net sales to Rs 748.74 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) jumped 23.1% to Rs 215.47 crore in Q3 December 2020 as against Rs 175.10 crore in Q3 December 2019. Current tax expenses for the quarter dropped 33.3% to Rs 42.32 crore as against Rs 63.44 crore paid in Q3 December 2019. The Q3 result was declared after market hours yesterday, 2 February 2021.
Consolidated EBITDA grew 30% Y-o-Y (year-on-year) to Rs 242 crore in Q3 FY21 as against Q3 FY20, which was 32% of revenue from operations. The Q3 FY21 India sales surged 13% to Rs 220 crore as against Rs 195 crore in Q3 FY20. The Q3 FY21 total export sales stood at Rs 524 crore over Rs 448 crore in Q3 FY20, recording a growth of 17% Y-o-Y.
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Nifty futures trading on the Singapore Exchange were up 41.50 points or 0.28 per cent at 14,780.20, having moved within a range of 14,744.50-14,792.80 earlier, in signs that Dalal Street was headed for a positive start on Wednesday. Here are a few stocks which may buzz the most in today s trade:
Reliance Industries-Future Group: The Delhi High Court on Tuesday provided relief to Amazon as it asked Future Group to maintain the status quo in its deal to sell its retail and wholesale assets to Reliance Industries in a major setback for both companies. Amazon has contested the deal between RIL and Future Group. Future Retail said it will explore all legal remedies and take appropriate steps to pursue the scheme of arrangement.
Benchmark indices scaled record high levels as Union Budget euphoria continued. The Nifty scaled 14,750 mark and inched higher. At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 390.63 points or 0.78% at 50,189.66. The Nifty 50 index was up 126.70 points or 0.86% at 14,774.75.
The Sensex scaled record high of 50,231.39 while the Nifty recorded an all time high of 14,792.
The rally was broad based. The S&P BSE Mid-Cap index was up 1.26%. The S&P BSE Small-Cap index was up 1.21%.
The Union Budget 2021 unveiled on 1 February 2021 supported all the essential aspects of growth by an increase in government spending without an increase in indirect taxes. The Budget offered huge stimulus to infrastructure, capex, healthcare and boosted the credit flow by taking out the toxic assets of the banking system. Increased FDI limit in insurance improved the overall outlook of the sector.
Here are the top stocks to track in today s session:
Home First Finance: Shares of Home First Finance will debut on the bourses today. The issue that ran between January 21-25 was subscribed 27 times.
Q3 earnings: Bharti Airtel, Adani Enterprises, Adani Green Energy, Apollo Tyres, Arvind Fashions, Deepak Fertilisers, Hindustan Copper, Indian Hotels, Inox Leisure, Jubilant FoodWorks and VIP Industries are among the 88 companies that are slated to announce their December quarter earnings today. Analysts expect Bharti Airtel to return to profit while revenues may grow in mid-teens on a year-on-year (YoY) basis, mainly on account of strong subscriber addition momentum. Besides, the company s board will also consider financing strategies and fundraising plans via instruments like debentures, bonds, and loans.
Tata Consumer Products consolidated net profit rose 29% to Rs 237 crore on 23% rise in revenue from operations to Rs 3070 crore in Q3 December 2020 over Q3 December 2019.
Ajanta Pharma s consolidated net profit jumped 64.23% to Rs 176.63 crore on 13.27% rise in total income to Rs 754.22 crore in Q3 December 2020 over Q3 December 2019.
Adani Enterprises informed that the company has incorporated a wholly owned subsidiary namely, Azhiyur Vengalam Road, on 1st February 2021 to carry out the development, maintenance and management of the project in Kerala.
Shares of Home First Finance Company will debut on the bourses today. The issue was sold in the price band of Rs 517-518 apiece.