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5 Stocks That Are Moving Based On Quarterly Numbers
Markets are trading flat, ahead of the outcome of the Karnataka assembly elections due on Tuesday. Here are a few stocks that are moving based on quarterly numbers.
Canara Bank
Shares in Canara Bank, which opened to a poor set of quarterly numbers, quickly rallied after a few minutes into trade, as investors felt that the worst for the bank was over in terms of non performing assets. The government owned bank reported a net loss of Rs 4,860 crore against a profit of Rs 214 crore.
The shares were up 1 per cent in trade at Rs 249.
Allahabad Bank
Shares in Allahabad Bank had no such luck and was down 2 per cent. This government owned bank too reported a poor set of quarterly numbers.
The shares of the bank were last trading at Rs 44.85. The bank reported a net loss of Rs 3,510 crores. The gross non performing assets were placed at 15.96 per cent versus 14.38 per cent (QoQ). On the other hand the net NPA stood at 8.04 percent versus 8.97 percent (QoQ).
Nilkamal Platics
Shares in plastic moulded furniture major, Nilkamal Platics saw its shares remain flat, after the company reported a flattish set of quarterly numbers.
The firm reported a revenue, which was up 12 percent at Rs 596 crore, while the net profit was up 6.25 percent at Rs 34 crore, for the quarter ending March 31, 2018. The shares were last trading at Rs 1,680.
UCO Bank
UCO Bank, like some other government owned peers were having a bad day in trade. The stock was once again a victim of poor quarterly numbers. The shares were down 2 per cent at Rs 18. Net loss at the bank widened to Rs 2,134.36 crore versus loss of Rs 588.19 crore (YoY).
Sun TV
Shares in Sun TV were up a staggering 10 per cent in trade, after numbers beat expectations and also after upgrades on the stock from select brokerage houses. The stock was last seen trading at Rs 963, up 11 per cent in trade. The company is a debt free company, with solid television presence in the south.
Meanwhile, investors are advised caution ahead of the Karnataka state elections, which may keep the markets volatile. The Sensex has already recovered 9 per cent from the lows seen in the month of March 2018.
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