Movers & Shakers on D-Street: Axis Bank, Radico Khaitan, Biocon, KPIT Technologies, Bharti Infratel

Indian equities extended their winning streak to fourth straight trading session on Thursday with the Sensex and the Nifty ending at an all-time closing high of 2014 so far.

The Sensex rose 36 points to 21,373.66, while the Nifty ended marginally higher at 6,345.65. The upswing was led by capital goods, consumer durables and select FMCG stocks. Auto, metals, IT and select banking stocks fell.

The INDIA VIX was down 1.5 per cent at 15.58. It hit a day’s high of 16.03 and low of 15.14. FIIs bought shares worth Rs 433.60 crore, while DIIs sold worth Rs 393.68 crore.

Shares of Axis Bank gained by 2.48 per cent to Rs 1216.30 on reports that the stake sale of Specified Undertaking of UTI (SUUTI) in Axis Bank, which is part of the government’s disinvestment process, is likely to take place through block deals.
Rakesh Jhunjhunwala’s Rare Enterprises bought 6.85 lakh shares of Radico Khaitan at Rs 167.75 apiece. Radico Khaitan rose 3.03 per cent to Rs 164.70.

KPIT Technologies slumped 14 per cent to Rs 158.50 after consolidated net profit in the third quarter fell 8.93 per cent to Rs 60.77 crore and net sales slipped 3.53 per cent to Rs 677.93.

Shares of Bharti Infratel rose 2 per cent to Rs 167.90 after consolidated net profit rose 62 per cent to Rs 411 crore for the third quarter.

Shares of Biocon slipped 5.74 per cent after it reported earnings below market estimates. The Q3 consolidated net profit rose 14 per cent to Rs 105 crore.

Foreign brokerage house Jefferies has maintained its ‘Hold’ rating on Ashok Leyland with a target price of Rs 19. It has cut FY14-15 volume estimates by 26-27 per cent, EBITDA by 45-93 per cent, and forecast losses in FY14-15 estimates. Shares ended 2.32 per cent low at Rs 17.65.