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Pre-paid Rs 176.22 crore restructured debt of Edelweiss Asset Reconstruction Company. Pre-payment funded through Rs 130 crore debt from Kotak Mahindra Bank and internal accruals. Source: Exchange filing Shares of BMW Industries Ltd. gained over 5% on Friday after its profit jumped over 80% in the first-quarter. The company's net profit rose by 80.5% year-on-year to Rs 15.57 crore in the quarter ended June, according to an exchange filing. Revenue up 16.1% at Rs 157.52 crore. Ebitda up 36.9% to Rs 36.69 crore. Ebitda margins at 23.29% vs 19.75%. Net profit up 80.5% at Rs 15.57 crore. Shares of the company rose 0.55% to Rs 42.11 apiece, compared to a 0.42% decline in the BSE Sensex as of 10:13 a.m. The stock hit an intraday high of 5.06%. The total traded quantity so far in the day stood at 2.2 times the 30-day average volume. The stock's relative strength index stands at 75, indicating that it may be overbought. Shares of Ashok Leyland Ltd., REC Ltd., and Supreme Industries Ltd. hit an all-time high in trade on Friday after MSCI decided to add a total of eight stocks including these in its MSCI Emerging Markets Index, as a part of the August review. The changes in the index will be effective from Sept. 1, 2023, as per MSCI. Other stocks that were added to the index also rose over 1% intraday. HDFC Asset Management Co., Cummins India Ltd., and Power Finance Corp Ltd. gained more than 2%, whereas, Astral Ltd., and IDFC First Bank Ltd. advanced over 1% intraday. Shares of Supreme Industries Ltd. rose as much as 16.51% intraday to hit a record high at Rs 4,487 apiece. It has risen nearly 73% year-to-date. REC Ltd., on the other hand, advanced as much as 6.49% intraday to hit a record high at Rs 230.65 apiece. It has risen nearly 96.8% year-to-date. Ashok Leyland Ltd. stock gained 2.60% intraday to scale an all-time high of Rs 191.5 per share. It has risen nearly 31.07% year-to-date. Shares of Ugar Sugar Works Ltd. fell over 16% on Friday after the company reported a net loss in the first quarter. The company had a net loss of Rs 9.14 crore compared to a net profit of Rs 5.74 crore in the quarter ended June, according to an exchange filing. Revenue down 41.6% to Rs 217.67 crore from Rs 372.78 crore a year ago. Ebitda down 75% at Rs 6.12 crore compared to Rs 24.46 crore in the year ago period. Ebitda margins at 2.81% vs 6.56%. Net loss of Rs 9.14 crore compared to the net profit of Rs 5.74 crore a year ago. Shares of the company fell 10.88% to Rs 112.20 apiece, compared to a 0.40% decline the Nifty 50 as of 10:06 a.m. The shares reached an intraday low of 16.60%. The total traded quantity so far in the day stood at 11.2 times the 30-day average volume. The stock's relative strength index stands at 27, indicating that it may be oversold. Shares of HCL Technologies Ltd. gained on Friday after it signed a mega deal with Verizon Business for a contract value of $2.1 billion for a six-year term. HCL Tech is to be Verizon Business's primary collaborator in all deployments involving managed network services globally for enterprise customers. Verizon Business will be leading sales, solutioning, and customer acquisitions, while HCL Tech will lead post-sales implementations and ongoing support. The company expects this deal to have a positive impact on its revenue over the coming six years, beginning in November this year, HCL Tech said in an exchange filing. Shares of HCL Tech rose 3.54% to Rs 1,174.45 apiece as of 9:43 a.m., compared to a 0.34% decline in the benchmark Nifty 50. The total traded volume so far in the day stood at 6.2 times its 30-day average. The relative strength index is at 60.87, implying that the stock is neither overbought nor oversold. Of the 44 analysts tracking the company, 24 maintain a buy, 14 recommend a 'hold', and six suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 0.8%.
Read more: bloombergquint
