← Go back Aug 08, 2023
Shares of Thyrocare Technologies Ltd. declined on Wednesday, after the first quarter profit fell and misses the analysts' estimates. The diagnostic company's net profit fell 20% year-on-year to Rs 17 crore in the quarter ended June, according to an exchange filing. That compares with Bloomberg's estimate of Rs 24 crore. Thyrocare Technologies Q1 FY24 (Cons YoY) Revenue up 6% at Rs 135 crore vs Rs 128 crore (Bloomberg estimate: Rs 145 crore) Net profit down 20% at Rs 17 crore vs Rs 22 crore (Bloomberg estimate: Rs 24 crore) Ebitda down 5% at Rs 34 crore vs Rs 36 crore (Bloomberg estimate: Rs 40 crore) Margins at 25.4% vs 28.1% (Bloomberg estimate: 27.5%) Shares of the company were trading 2.79% lower at Rs 573.95 apiece as of 10:39 a.m., compared to a 0.82% decline in the benchmark NSE Nifty 50. The stock declined as much as 3.45% intraday, the most since July 20. The stock has declined nearly 6.94% year-to-date. The total traded volume so far in the day stood at 0.4 times its 30-day average. The relative strength index at 58.72. The three analyst tracking the company maintain a 'buy' on the stock, according to Bloomberg. The average of 12-month price target given by analysts implies an upside of 6.1%. Shares of Sealmatic India reached a record high of Rs 608.40 apiece after it received an order to supply 60 API mechanical seals along with 60 API plans. Sealmatic offers a portfolio of seals and seal supply systems in accordance with API 682 fourth edition. API 682 is a standard of the American Petroleum Institute. The project entails the supply of high-critical mechanical seals for 52 pumps in the FCCU, VBU, and BBU units at Indian Oil Corporation's Mathura refinery. This installation will create recurring profitable spare parts business for the company through the lifetime of the equipment, as per the company's exchange filing. Shares of the company rose 7.66% to Rs 600 apiece, compared to a 0.64% advance in the Nifty 50 as of 10:23 a.m. Shares hit an intraday high of 9.17% The total traded quantity so far in the day stood at 2.9 times the 30-day average volume. The stock's relative strength index stands at 83, indicating that it may be overbought. Shares of Metro Brands Ltd. lost in trade on Wednesday as company released its June quarter earnings and its net profit beat Bloomberg estimates to rise 12% year-on-year at Rs 93.5 crore, according to the filing. The company's store expansion plan remained on track this quarter, with the net addition of 27 stores in 8 new cities. The firm also hit its highest ever quarterly e-commerce sales of Rs 61 crore. Metro Brands Q1 FY24 Highlights (year-on-year) Revenue up 15% at Rs 582.52 crore vs Rs 507.95 crore Ebitda up 2% at Rs 186.59 crore vs Rs 182.87 crore Ebitda margin at 32% vs 36% Shares of the company rose 2.12% to Rs 1063.35 apiece, compared to a 0.61% decline in the Nifty 50 as of 10:16 a.m. The stock hit an intraday low of 5.64%. The total traded quantity so far in the day stood at 6.7 times the 30-day average volume. The stock's relative strength index stands at 54.77, indicating that the stock is neither overbought nor oversold. Out of the 13 analysts tracking the stock, 10 maintain a 'buy', one recommends a 'hold', and two suggest a 'sell', according to Bloomberg data. The consensus price estimate indicates a 0.4% downside over the next 12 months. Shares of Ugro Capital Ltd. rose on on Wednesday as profits for the fiscal’s first quarter more than tripled, increasing by 244% year-on-year. Ugro Capital (Consolidated, YoY ) Interest income is up 74% at Rs 161.49 crore. Net interest income is up 76% at Rs 92.68 crore. Net profit is up 244% at Rs 25.23 crore. Shares rose 3.50% intraday before paring gains to trade 2.08% lower as of 9:59 am This compares to a 0.49% slide in the NSE Nifty 50. Total traded volume so far in the day stood at 3.2 times its 30-day average. The relative strength index was at 68.5, implying that the stock may be overbought. Of the three analysts tracking the company, two maintain a 'buy' rating, and one recommends a ‘hold’, according to Bloomberg data. However, the average 12-month consensus price target implies an upside of mere 0.1%. Shares of Thermax Ltd. advanced on Wednesday after its net profit rose 1.69% in the June quarter. The energy and environment solutions company missed the analyst estimates. It witnesses a net profit of Rs 59.95 crore, compared with Rs 111.90 crore estimated by Bloomberg. Thermax Q1FY24 (Consolidated, YoY) Revenue are up 16.8% at Rs 1,932.96 crore. (Bloomberg estimate: Rs 1,983.30 crore) Ebitda is up 37.6% at Rs 132.2 crore. (Bloomberg estimate: Rs 148.82 crore) Margins at 6.84% vs. 5.80% (Bloomberg estimate: 7.5%) Net profit is up 1.69% at Rs 59.9 Shares of Thermax were trading 2.91% higher at Rs 2,589.60 apiece as of 9:58 a.m., compared to a 0.51% decline in the benchmark NSE Nifty 50. The stock hit an intra-day high of 4.83%. The stock has risen nearly 31.64% year-to-date. The total traded volume so far in the day stood at 17.5 times its 30-day average. The relative strength index at 68.04. Of the 25 analysts tracking the company, 11 maintains 'buy', eight suggests 'hold' and six recommends 'sell'. The return potential of the stock implies a downside of 9.2% in the next 12 months, according to Bloomberg data.
Read more: bloombergquint
