Indiabulls (11% down)
The Indiabulls Real Estate stock tumbled 11% on equity dilution concerns after the board approved raising $600 million through qualified institutional placement issue. The firm has a market cap of $675 million and this issue, if subscribed fully, would almost double its equity base.
Pantaloon Retail (4% down)
Shares of Pantaloon Retail (India) declined 4% after brokerage firm CLSA recommended an underperform rating on the stock with a target of Rs150. Pantaloon’s quarterly numbers did not enthuse the market with a net profit of Rs34 crore compared with Rs32 crore.
Aban Offshore (9% down)
Shares of Aban Offshore declined 9% after the company reported a net loss of Rs93 crore in the March quarter. The company’s numbers were hurt by high interest and depreciation costs. The shares of the company closed at Rs442.60 on the National Stock Exchange on Monday.
Strides Arcolab (9% down)
Shares of Strides Arcolab took a 9% beating after its quarterly numbers disappointed the market. The company posted a net profit of Rs10.5 crore for the March quarter compared with Rs52.5 crore in the year-ago period. However, last year’s numbers were boosted by Rs71 crore of other income.
JP Associates (3.5% up)
The Jaiprakash Associates stock rallied 3.5% after the March quarter numbers beat the market by a wide margin. Its quarterly profit jumped 83%. The company has also given an aggressive guidance of Rs11,000 crore of revenues and an earning per share of Rs11-12.50.
3i Infotech (4.5% up)
3i Infotech shares rallied 4.5% after reporting nearly 40% sequential jump in March quarter net profit to Rs90 crore compared with Rs64 crore in the year-ago period. The sales though remained flat at Rs607 crore. The stock closed at Rs44.40 on the National Stock Exchange on Monday.
Pochiraju (20% up)
The Pochiraju Industries stock surged 20%, hitting upper circuit after the company recorded 33% jump in March quarter net profit to Rs4.2 crore compared with Rs3.1 crore in the corresponding period last year. The sales also increased by 34% to Rs15.6 crore.
Cipla (1.5% up)
Shares of Cipla gained 1.5% as the firm announced a 41% increase in the March quarter profit. CLSA recommended the stock as top pick in the pharma sector. The stock also gained after the firm told CNBC-TV18 that it has inventory to supply 1.5 million doses of Tamiflu in 4-6 weeks.