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Stocks Radar: Apollo Hospitals, Sun Pharma, Shankara Building

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Indian equity benchmarks gained for the sixth session and are set for their longest winning streak in over four months. The S&P BSE Sensex Index and the NSE Nifty 50 Index traded higher at 36,291.81 and 10,895.05, respectively, as of 11:15 a.m.

The market breadth was tilted in favour of buyers. Nine of the 11 sectoral gauges advanced, led by a 2.67 percent gain in the NSE Nifty Metal Index. The NSE Nifty Pharma Index was the top loser, down 1.9 percent.

Here Are The Stocks Moving The Market This Morning

Sun Pharma Drops The Most In Over 18 Months

Shares of the countrys largest drugmaker slumped as much as 10.3 percent, the most since May 2017, to Rs 442 apiece.

The Securities and Exchange Board of India is likely to reopen an insider trading case against Sun Pharmaceutical Industries Ltd. as well as probe alleged lapses by some of its promoters and other entities in raising funds overseas, PTI reported quoting sources.

The stock was the worst performer on the Sensex and Nifty. Its trading volume was 14 times its 20-day average, Bloomberg data showed.

Bajaj Auto Swings After Sales Rise For 15 Months In A Row

Shares of Bajaj Auto fluctuated between gains and losses after the company’s sales rose for the fifteenth straight month in November.

The Pune-based auto maker sold 4.06 lakh units last month, an increase of 25 percent from November 2017, according to its stock exchange notification.

Key sales highlights (Year-On-Year)

  • Domestic motorcycle sales rose 45 percent to 2.05 lakh units.
  • Total motorcycle sales rose 31 percent to 3.46 lakh units.
  • Total commercial vehicle sales fell 3 percent to 60,386 units.
  • Total exports rose 17 percent to 1.72 lakh units.

Apollo Hospitals Hits 17-Month High

Shares of Apollo Hospitals Enterprise rose as much as 3.4 percent to Rs 1,316.15, its highest level since June last year.

The stock gained over 6 percent in four trading sessions. Apollo Hospitals traded at 52 times its estimated earnings per share for the coming year, Bloomberg data showed.

Sandhar Technologies Gains After Signing A Pact

Shares of Sandhar Technologies rose as much as 5.3 percent to Rs 327.55 apiece.

The company signed a joint venture pact with South Korea’s Kwangsung to make plastic-mold parts for cars and trucks.

The trading volume was more than three times its 20-day average, Bloomberg data showed. The stock declined 6.3 percent in the past 12 months.

Ashok Leyland Falls After Sales Drop In November

Shares of Ashok Leyland fell as much as 4.5 percent to Rs 107.25 apiece.

The commercial vehicles maker sold 13,121 units in November, a decline of 9 percent from the year-ago month, according to its exchange filing.

The stock declined 8 percent so far this year compared to a 0.5 percent advance in the Sensex.

Shankara Building Slumps As It Expects Margin To Face Pressure

Shares of Shankara Building Products fell as much as 9.9 percent to Rs 625.30 apiece.

The company said it expects its margin to come under pressure as it focuses on competition and improving its balance sheet. (more details here).

The trading volume was 13.5 times its 30-day average, Bloomberg data showed. The Relative Strength Index was at 17, indicating that the stock may be oversold.

Other Stocks Reacting To November Auto Sales Report

Eicher Motors

  • Stock fell as much as 1.9 percent to 22,950.05 apiece.
  • Royal Enfield sales fell 6 percent year-on-year to 65,744 units.

Escorts

  • Stock rose as much as 2.7 percent to 723.90 apiece.
  • Total sales rose 56.4 percent year-on-year to 8,005 units.

Hero MotoCorp

  • Stock fell as much as 1.1 percent to Rs 3,020 apiece.
  • Total sales rose 0.8 percent year-on-year to 6.1 lakh units.

Tata Motors

  • Stock rose as much as 2.1 percent to Rs 175.55 apiece.
  • Total sales fell 4 percent year-on-year to 50,470 units.

Maruti Suzuki

  • Stock rose 0.8 percent to Rs 7,725 apiece.
  • Total sales down 0.7 percent year-on-year to 1.53 lakh units.

Mahindra & Mahindra

  • Stock rose as much as 1.5 percent to Rs 803 apiece.
  • Automotive sales rose 17 percent year-on-year to 45,101 units.

SML Isuzu

  • Stock fell as much as 1.4 percent to Rs 710 apiece.
  • Total sales rose 1 percent to 688 units.

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