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Go Airlines Files DRHP, Happiest Minds Q4 Performance, and Buzzing Stocks Today
Mon, 17 May Pre-Open | Monish Vora, TM Team

Indian share markets ended on a flat note on Friday.

Benchmark indices fluctuated between gains and losses as rising inflation in the US and the likelihood of lower earnings in the June quarter spooked investors.

At the closing bell on Friday, the BSE Sensex stood higher by 42 points (up 0.1%).

Meanwhile, the NSE Nifty closed lower by 19 points (down 0.1%).

Asian Paints and UPL were among the top gainers.

Coal India and Tata Motors, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended down by 1.1% and 1.2%, respectively.

Sectoral indices ended on a mixed note with stocks in the metal sector, realty sector and auto sector witnessing most of the selling pressure.

FMCG stocks, on the other hand, witnessed buying interest.

Gold prices for the latest contract on MCX were trading up by 0.2% at Rs 47,545 per 10 grams at the time of closing stock market hours on Friday.

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Top Stocks in Focus Today

Among the buzzing stocks today will be HG Infra Engineering.

HG Infra Engineering reported a robust set of numbers for the quarter ended March (Q4FY21), with standalone net profit jumping 91% year-on-year (YoY) to Rs 977 m on the back of strong revenue.

The construction and engineering company had logged a profit of Rs 513 m in Q4FY20. The stock was trading close to its record high of Rs 356, touched on 23 April 2018.

During the quarter under review, the company's revenue increased 65% YoY to Rs 10.3 bn from Rs 6.3 bn in the corresponding quarter of the previous year, clearly reflecting the sharp pickup in execution.

Tata Power share price will be in focus as the company posted a marginal rise in its consolidated net profit at Rs 4.8 bn for the March quarter 2020-21 (Q4FY21).

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The company had reported a net profit of Rs 4.7 bn in the year-ago period.

The company said the rise in consolidated net profit in the quarter under review is due to saving in finance cost offset by exceptional gain in the previous year.

Total income rose to Rs 102.2 bn in the quarter from Rs 67.9 bn in the same period a year ago.

The company's board has approved a proposal to raise up to Rs 55 bn through issuance of non-convertible debentures (NCDs).

Happiest Minds Reports Strong Set of Q4 Numbers

Happiest Minds reported a strong set of numbers for the quarter ended March 2021.

IT firm Happiest Minds Technologies reported a manifold growth in consolidated net profit at Rs 360.5 million in the March 2021 quarter.

The company, which got listed on BSE and NSE last year, had posted a net profit of Rs 53 m in the year-ago period.

During the fourth quarter, the company's total income stood at Rs 2.2 billion, up 17.6% year-on-year (YoY). For the financial year 2021, the company reported total income of Rs 8 bn, up 11.7% as compared to Rs 7.1 bn in FY20.

Its revenue from operations was at Rs 2.2 bn in the quarter under review, up 18.4% from Rs 1.9 bn in the year-ago period.

On a quarter-on-quarter (QoQ) basis the net profit fell 14.5%, from Rs 421.5 m in the December 2020 quarter. Its revenue grew 14.5% from Rs 1.9 bn in the third quarter of FY21.

On a consolidated basis, earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at Rs 588.3 m for the quarter under review.

The board of directors also recommended a final dividend of Rs 3 per equity share on the face value of Rs 2 each, for the financial year 2020-21.

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Go Airlines Files DRHP to Raise Rs 36 Billion via IPO

Go Air has filed a draft red herring prospectus (DRHP) for a share sale to raise Rs 36 bn, as it rebrands to become an "ultra-low-cost" airline.

The Wadia group airline will use the proceeds to meet debt obligations, pay oil companies and for replacement of letter of credit to aircraft lessors for lease rental payment and future maintenance of aircraft.

The initial public offering (IPO) is managed by ICICI Securities, Citigroup and Morgan Stanley.

Wadia Group-controlled no-frills carrier GoAir has been rebranded as 'GoFirst' ahead of its proposed IPO.

The rebranding comes at a time when a large chunk of the air passenger traffic has been wiped out over the last fortnight by the second wave of covid-19 infections.

The reasons behind rebranding is to operate the carrier in an ultra-low-cost airline model, which would give it a competitive advantage over its peers, the airline said in a statement on Thursday.

An ultra-low cost carrier (ULCC) is different from a low cost carrier (LCC) as they typically operate different business models with unbundled fares which result in cheaper ticket prices.

Most Indian airlines like IndiGo, SpiceJet and AirAsia India operate on a low cost model.

How the above IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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Stock Market Updates

ADANI PORTS & SEZ Share Price Down by 8%; BSE 500 Index Down 0.1% (Today's Market)

Jun 14, 2021 03:19 PM

ADANI PORTS & SEZ share price is trading down by 8% and its current market price is Rs 783. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are FDC (up 12.7%) and DEEPAK FERTILISERS (up 12.2%). The top losers are ADANI PORTS & SEZ (down 7.9%) and ADANI ENTERPRISES (down 5.7%).

Sensex Trades Marginally Lower, Dow Futures Up by 44 Points (Today's Market)

Jun 14, 2021 12:30 pm

BSE Sensex is trading down by 197 points, while the NSE Nifty is trading down by 65 points.

WIPRO at All Time High; BSE IT Index Up 0.4% (Today's Market)

Jun 14, 2021 09:51 AM

WIPRO share price has hit an all time high at Rs 560 (up 0.4%). The BSE IT Index is up by 0.4%. Among the top gainers in the BSE IT Index today are WIPRO (up 0.4%) and L&T INFOTECH (up 0.1%). The top losers include HEXAWARE TECHNOLOGIES and HCL TECHNOLOGIES (down 0.3%).

Sensex Falls 300 Points, Nifty Below 15,700; Adani Group Stocks Tumble (Today's Market)

Jun 14, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 334 points, while the Nifty is trading lower by 110 points.

PARAG MILK FOODS Share Price Down by 8%; BSE 500 Index Down 0.9% (Today's Market)

Jun 14, 2021 09:31 AM

PARAG MILK FOODS share price is trading down by 8% and its current market price is Rs 142. The BSE 500 is down by 0.9%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 13.6%) and RELIANCE CAPITAL (up 5.0%). The top losers are PARAG MILK FOODS (down 7.7%) and ADANI ENTERPRISES (down 10.0%).

THYROCARE TECHNOLOGIES at All Time High; BSE HEALTHCARE Index Down 1.1% (Today's Market)

Jun 14, 2021 09:31 AM

THYROCARE TECHNOLOGIES share price has hit an all time high at Rs 1,249 (down 0.3%). The BSE HEALTHCARE Index is down by 1.1%. Among the top gainers in the BSE HEALTHCARE Index today are THYROCARE TECHNOLOGIES (down 0.5%) and DIVIS LABORATORIES (up 0.5%). The top losers include PROCTER & GAMBLE HEALTH and SANOFI INDIA .

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