The stock price spiked 10 percent after the company entered into an agreement with the UK government to finish COVID-19 vaccines. The manufacturing will be undertaken at CP Pharmaceuticals, a subsidiary of Wockhardt based in Wrexham, North Wales.
The stock jumped 5 percent after the company received multiple orders across geographies, including USA, KSA and India, of approximately 106 KMT valuing close to Rs 1,000 crore. With these orders, the company's order book stands at 759 KMT valued at approximately Rs 6,200 crore after considering execution up to June 2020.
**Bank of India**
The stock price gained over 2 percent after the company reported Q1 net profit of Rs 843.6 crore in the quarter ended June 2020 against Rs 242.6 crore in the year ago period. Net Interest Income (NII) was down to Rs 3,481 crore versus Rs 3,485 crore. The Gross NPA was at 13.91% versus 14.78% (QoQ), reported CNBC-TV18.
**State Bank of India**
The stock price ended in the green after brokerages, including CLSA, Nomura and Kotak, recommended a buy call on the stock. The PSU bank reported a standalone profit of Rs 4,189.34 crore for the quarter ended June 2020, a growth of 81.2 percent over a year-ago period driven by stake sale in life insurance business. Provisions and lower non-interest income limited growth in profit. Net interest income, the difference between interest earned and interest expended, increased 16.1 percent to Rs 26,641.56 crore in June quarter compared to Rs 22,938.8 crore in year-ago period.
The shares jumped 5 percent after the company's net profit rose 383 percent to Rs 31.16 crore in the quarter ended March 2020 as against Rs 6.45 crore during the previous quarter ended March 2019.
Sales rose 104.41 percent to Rs 207.39 crore in the quarter ended March 2020 as against Rs 101.46 crore during the previous quarter ended March 2019. For the full year,net profit rose 182.52% to Rs 71.28 crore in the year ended March 2020 as against Rs 25.23 crore during the previous year ended March 2019.
Sales declined 54.57% to Rs 685.22 crore in the year ended March 2020 as against Rs 1508.23 crore during the previous year ended March 2019.
**Kansai Nerolac Paints**
The share price was up over 3 percent after the company's consolidated net profit went down 79.5 percent to Rs 29.6 crore against Rs 144.7 crore YoY.
Cons revenue fell 58.6 percent to Rs 639 crore against Rs 1,542.4 crore YoY.
Consolidated EBITDA was down 69.7 percent at Rs 77 crore against Rs 254 crore YoY.
Consolidated EBITDA margin stood at 12 percent against 16.4 percent YoY.
The stock was up over 3 percent on improving prospects of operating margins. The company's strict cost rationalisation measures and exit from subdued businesses are expected to give its margins a shot in the arm. The company reported weaker-than-expected June quarter earnings with revenue declining on a year-on-year basis, in both its key general staffing and human resource services segments.