BERGER PAINTS: Paint maker saw over 4% within the initial trade, down most from Jun 25. For Q1, the firm recorded a 91% decline in profits in INR 15.Four crore compared to INR 176.Eight crore recorded a yr. back.
Revenues also fallen 45.8% on a year-on-year basis in INR 930.Eight cr awhile margins narrowed to 9.9% from 17.8%.
Although, the stock has witnessed a recovery from opening lows, Mgmt sounded quite optimistic in a post-earnings interview with ET NOW. Abhijit Roy, MD & CEO of Berger Paints stated that the insist is looking up & that the firm is growing.
He also observed that the 2-wheelers & cars category paint insist has come quite close to pre-COVID levels.
On future earnings, Mgmt stated that the firm going to post positive revenue expansion in Q2 & likely to watch much stricter double-digit expansion in Q3. Within the last Five sessions the stock has declined 2.7%, in last 52-weeks stock has gained over 45%.
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SUN TV: The stock soars over 8% intraday, most in almost 19 weeks on the back of its Q1 earnings performance. The media conglomerate stated that revenues are close to 75% of the pre-COVID levels. ‘In case things stabilise & in case the market actually opens up, an total decline can be restricted to 15-20%,’ it stated.
Meantime, the firm guided about INR 250 cr Capex towards digital, making content to drive subscription revenue & on films.
Brokerages have also given a thumbs as many as the stock, Macquarie has retained its Outperform stance with a focus of `508/distribute.
Macquarie stated that ad recovery on track & stock offers an attractive 5% dividend yield. They also rised FY21-23 EPS by 1-4% on lower amortisation & mentioned that the well positioned to tide over these challenging times.
Awhile Edelweiss believes that the Q1 bore the brunt of COVID-19 cost & that ad revenue recovery would enhance sequentially. They’ve also retained a Purchase stance on the firm.
STERLITE TECH: Stock surges over 13% intraday, most in three yrs. as CLSA initiates coverage on the stock with a Purchase rating. CLSA believes that the firm is a play on digital networks & it’s a powerful order book with forcing valuations.
The brokerage company has a focus of INR 185/distribute on the stock & mentioned that the firm’s target on ROCE & powerful order book are key positives. Within the last 52 weeks, the stock has witnessed a muted performance.
NTPC: State-owned power firm surges most in over six yrs. with gains upwards of 8% intraday. Firm in an announcement stated that it’s started the bulk delivery of fly ash utilizing newly developed infra-structure in its Rihand project in WP to distant cement plants.
The development (devt) is now in line with the NTPC’s dedication towards 100 percent utilisation of fly ash from power plants, the firm stated. The Chairman this in the morning stated that it schedules to enter the power distribution business.
The stock has fell 19% within the last 52 weeks & it’s a 2nd straight session of gains for the firm.