IndusInd Bank, Escorts, Shakti Pumps among 18 stocks that hit new highs

The private sector lenders, IndusInd Bank, Kotak Mahindra Bank and Shiram Transport Finance, the consumer discretionary goods & services sector companies such as Avenue Supermarts (owner of D-Mart), Jubilant FoodWorks, Titan Company and Britannia Industries were among 18 stocks that hit their respective new highs on the BSE on Monday.

Century Plyboards, Dilip Buildcon, Apollo Tyres, Escorts, Excel Industries, HIL, KEI Industries, Pidilite Industries, Power Mech Projects, Shakti Pumps (India) and SRF too hit record highs in intra-day trade today.

IndusInd Bank was up 2% at Rs 1,864, gaining 10% in past one month, as compared to 1.5% rise in the S&P BSE Sensex during the period. On March 13, IndusInd Bank said the Reserve Bank has approved the merger of Bharat Financial Inclusion with the bank.

Kotak Securities expects IndusInd Bank to report strong loan growth at around 20% yoy in March quarter (Q4FY18) led by steady growth in the retail business with vehicle finance business showing positive momentum amidst a strong CV cycle.

“NIM is expected to decline around 10 bps qoq/yoy, in line with recent trends, reflecting pressure on loan yields. We expect limited asset quality stress but divergence, if any, could be reported this quarter. The company had base quarter impact of one-off provisions against a cement account. We expect GNPL of 1.3%, up around 10 bps qoq and up 15% qoq on absolute basis,” the brokerage firm said in a earnings preview.

Shares of Titan Company hit a new high of Rs 972 per share, up 3.5% on the BSE after the company said that its jewelry segment saw mid-teen retail sales growth during the quarter ended March 2018 (Q4FY18). The stock surpassed its previous high of Rs 963 recorded on March 28, 2018 on the BSE in intra-day trade.

“The Jewellery division had good sales growth in Q4 FY 17-18 on the back of very successful diamond jewellery activation and a more customer friendly revised gold exchange policy. The retails sales growth for the quarter was in mid-teens for the division,” Titan Company in quarterly update.

In FY17-18, watches and Jewellery business scaled new heights in terms of revenue growth and profitability which is a result of market share gains in both businesses as well as the success of the cost control initiatives of the Company, it added.

Shakti Pumps (India) has rallied 6% to Rs 685, extending its Friday’s 15% surged on back of heavy volumes. The trading volumes on the counter more than doubled with combined 1.27 million shares changed hands on the BSE and NSE till 12:23 pm. Thus far in the calendar year 2018, the stock zoomed 51% against 1% decline in the Sensex.

Shakti Pumps had reported more than four-fold jump in its consolidated net profit at Rs 167 million in October-December quarter (Q3FY18). It had a profit of Rs 41 million in the same quarter year ago.

Operational revenue of the company during quarter increased by 42% to Rs 1,477 million from Rs 1,041 million the corresponding quarter of previous year. EBITDA (earnings before interest, tax, depreciation and amortization) margin improved to 21.17% in Q3FY18 from 15.4% in Q3FY17.

For the first nine months (April to December) of the current financial year 2017-18, the company’s net profit more than doubled to Rs 245 million against Rs 107 million in the same period last fiscal. It had net profit of Rs 205 million in the entire financial year 2016-17.

APOLLO TYRES 293.45 297.65 296.50 06-Apr-18
AVENUE SUPER. 1426.00 1433.95 1429.90 06-Apr-18
BRITANNIA INDS. 5156.75 5205.00 5188.00 06-Apr-18
CENTURY PLY. 353.50 364.10 363.00 15-Jan-18
DILIP BUILDCON 1190.00 1209.15 1197.00 06-Apr-18
ESCORTS 911.25 922.00 921.90 07-Feb-18
EXCEL INDS. 1122.50 1145.00 1068.00 04-Apr-18
HIL LTD 1880.00 1949.90 1895.00 29-Jan-18
INDUSIND BANK 1864.00 1864.80 1840.75 03-Apr-18
JUBILANT FOOD. 2447.10 2487.35 2437.50 06-Apr-18
KEI INDS. 426.70 434.00 432.00 04-Apr-18
KOTAK MAH. BANK 1131.45 1137.40 1132.50 02-Feb-18
PIDILITE INDS. 991.30 998.00 981.95 06-Apr-18
POWER MECH PROJ. 984.10 1000.00 975.00 26-Feb-18
SHAKTI PUMPS 660.80 685.30 661.00 06-Apr-18
SHRIRAM TRANS. 1584.00 1610.00 1589.00 06-Apr-18
SRF 2052.10 2066.55 2065.00 06-Apr-18
TITAN COMPANY 965.50 971.50 963.15 28-Mar-18

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