ACC | CMP: Rs 2,219 | The share price shed over 2 percent on October 18. The company posted losses in the quarter that ended in September 2022. ACC on October 17 reported a standalone loss of Rs 91 crore for the quarter, as against a post-tax profit of Rs 449 crore a year back, while it had posted a net profit of Rs 222 crore in the June quarter this year. Morgan Stanley has maintained an 'underweight' rating on the stock and cut the target price to Rs 1,950 from Rs 2,050 per share. Jefferies has kept the buy call on ACC with a target price at Rs 3,000 per share.
Samvardhana Motherson International | CMP: Rs 64.10 | The scrip tumbled over 7 percent after 14.6 crore shares changed hands in multiple trades representing a 4.6 percent stake worth Rs 952 crore, CNBC-TV18 reported. The deal was carried out at an average of Rs 65 per share. On October 17, Japan-based Sojitz Corp announced it will sell a 1.9 percent stake in Samvardhana Motherson through a block deal, the floor price for which was set at Rs 64.36 per share.
Tata Communications | CMP: Rs 1,239 | The scrip added over 3 percent after the Tata Group company reported a 25.13% rise in consolidated net profit to Rs 532.29 crore on a 6.15% increase in net sales to Rs 4,430.74 crore in Q2 FY23 over Q2 FY22. On a sequential basis, net profit slipped 2.11% while net sales rose 2.79% in Q2 FY23 over Q1 FY22. Sequentially, growth in revenue followed upsides in the Data business, the company stated. Consolidated EBITDA stood at Rs 1,130 crore in Q2 FY23, registering a growth of 4.9% quarter on quarter (QoQ) and a rise of 1.5% year on year (YoY). Margins improved to 25.5% in Q2 FY23, expanding by 50 basis points QoQ while declining by 120 basis points YoY.
Sonata Software | CMP: Rs 501 | The share price ended in the red despite the company posting a 4.5 percent jump in its Q2 net profit at Rs 112.7 crore versus Rs 107.8 crore. However, its revenue was down 15.9% at Rs 1496 crore against Rs 1778 crore, QoQ.
Samvardhana Motherson International | CMP: Rs 64.10 | The scrip tumbled over 7 percent after 14.6 crore shares changed hands in multiple trades representing a 4.6 percent stake worth Rs 952 crore, CNBC-TV18 reported. The deal was carried out at an average of Rs 65 per share. On October 17, Japan-based Sojitz Corp announced it will sell a 1.9 percent stake in Samvardhana Motherson through a block deal, the floor price for which was set at Rs 64.36 per share.
Tata Communications | CMP: Rs 1,239 | The scrip added over 3 percent after the Tata Group company reported a 25.13% rise in consolidated net profit to Rs 532.29 crore on a 6.15% increase in net sales to Rs 4,430.74 crore in Q2 FY23 over Q2 FY22. On a sequential basis, net profit slipped 2.11% while net sales rose 2.79% in Q2 FY23 over Q1 FY22. Sequentially, growth in revenue followed upsides in the Data business, the company stated. Consolidated EBITDA stood at Rs 1,130 crore in Q2 FY23, registering a growth of 4.9% quarter on quarter (QoQ) and a rise of 1.5% year on year (YoY). Margins improved to 25.5% in Q2 FY23, expanding by 50 basis points QoQ while declining by 120 basis points YoY.
Sonata Software | CMP: Rs 501 | The share price ended in the red despite the company posting a 4.5 percent jump in its Q2 net profit at Rs 112.7 crore versus Rs 107.8 crore. However, its revenue was down 15.9% at Rs 1496 crore against Rs 1778 crore, QoQ.
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