Market Movers: Zensar takes a knock; Westlife, Godrej & UltraTech get high

Poor December quarter earnings spooked Zensar Technology, which fell 12 per cent on Friday, while McDonald operator Westlife gained 5 per cent after reporting a three-fold jump in profit. UltraTech emerged as the biggest gainer in the Sensex pack as it reported a 49 per cent surge in standalone Q3 profit.

The 30-share pack gained 226.79 points to 41,613 while its NSE counterpart Nifty jumped 67.90 points to 12,248.

“After a strong correction in the first three days of the week, traders were anticipating a strong pullback rally before the Budget week. Stable global cues, modest broader market participation and strong performance from media, metal and MNC stocks helped traders to maintain a long stance,” said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.

Here is a lowdown on the movers and shakers of Friday’s session on Dalal Street:

Patanjali aims high
Haridwar-based Patanjali group, which has acquired debt-ridden Ruchi Soya, is expecting Rs 25,000 crore turnover this financial, and aims to become the country's largest FMCG company soon, Yoga Guru Ramdev said. Shares of Ruchi Soya fell 4.87 per cent to Rs 3.32.

NLC India to raise Rs 525 cr
State-owned NLC India said it would raise Rs 525 crore through issuance of bonds on a private placement basis. The proceeds will be utilised to replace the equity deployed in the projects and operations over normative debt levels and for other corporate requirements. The stock gained 4.05 per cent following the announcement.

Bajaj Auto partners with Triumph
Bajaj Auto and iconic British motorcycle brand Triumph formally commenced their non-equity global partnership to manufacture a new range of mid-capacity motorcycles in the country. Shares of the domestic automaker edged 0.66 per cent higher at Rs 3,084.75.

ITI FPO issue opens
The follow-on-public offer of public sector unit ITI, which is expected to mop up Rs 1,400 crore, opened on Friday. The issue will close on January 28. The stock slipped 2.04 per cent at Rs 91.05.

Strike may hit SBI
The country's largest lender SBI said its operations may be impacted to some extent due to the proposed two-day nationwide strike beginning January 31. Shares of the lender gained 0.25 per cent to Rs 324.05.

Infy whistleblower case update
Infosys said it has not received any request from Sebi for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet. The stock closed 0.20 per cent lower at Rs 782.95.

Zensar feels Q3 heat
Shares of Zensar Technologies tumbled nearly 12.17 per cent to Rs 174.30 after the company posted a 32.6 per cent drop in net profit for December quarter at Rs 39.5 crore.

Westlife is lovin’ it!
Shares of Westlife Development, the owner of master franchisee of McDonald's restaurants in West and South India, jumped over 4.72 per cent to Rs 441.20 after the company reported over three-fold jump in profit for the third quarter at Rs 22.72 crore.

Strides gets nod for skin ointment
Strides Pharma Science said its arm had received tentative nod from US health regulator for triamcinolone acetonide ointment used in treatment of various skin conditions. Shares of the company gained 0.61 per cent to Rs 414.75.

IndusInd services for HNIs
Private sector lender IndusInd Bank has launched its wealth management platform Pioneer Banking to cater to high net-worth customers. Shares of the company slipped 1.21 per cent.

Godrej launches housing project
Shares of Godrej Properties gained 3.11 per cent after the company launched a luxury housing project at iconic R K Studios' land in Mumbai. In May last year, the company had announced the acquisition of the land in Chembur to develop a mixed-use project comprising luxury flats and retail space.

UltraTech gains after Q3 show
UltraTech Cement reported a 48.63 per cent rise in standalone net profit at Rs 643.15 crore compared with Rs 432.70 crore in the same quarter last year. Analysts in an ETNOW poll had estimated the profit figure at Rs 740 crore. The stock added 2.47 per cent following the announcement.

Coffee Day sells Way2Wealth
Shares of Coffee Day Enterprises jumped 4.97 per cent to Rs 33.80 after the Coffee Day Group entered into the definitive agreement with the Chennai-based Shriram Group to sell one of its financial services units, Way2Wealth Securities, for an undisclosed sum.

PNB Housing crashes
Shares of PNB Housing Finance fell 11.02 per cent to Rs 482.55 after the company reported a 22 per cent drop in net profit at Rs 237 crore for the December quarter amid lower credit growth, despite easing interest rate cycle and adequate liquidity.

JSW Steel gains ahead of Q3
JSW Steel gained 1.67 per cent to Rs 271.10 ahead of its Q3 numbers. However, the company reported 88 per cent fall in consolidated net profit at Rs 211 crore for December quarter compared with a net of Rs 1,624 crore in the same quarter last year. Analysts in an ET NOW poll had estimated the number at Rs 457.10 crore.

Broader market outperforms
The broader market indices raced ahead of their headline peers. Nifty Smallcap index gained 0.79 per cent to 6,345 while Nifty Midcap index added 0.92 per cent to 18,357. Nifty500 edged up 0.62 per cent to 10,083.

IT, pharma stocks flat
Except Nifty IT and Nifty Pharma indices, which closed flat with a negative bias, other sectoral indices closed in the green on NSE. Nifty Media, Nifty Metal and Nifty Financial Services indices added nearly 1 per cent each. Nifty Bank, Nifty Auto and Nifty Realty also closed with mild gains.

Financials lift Sensex
HDFC was the biggest contributor to Sensex gains, adding 40.48 points. ICICI Bank, Kotak Mahindra Bank and Axis Bank were other major positive contributors that together added 105 points. RIL bled 16 points and was the biggest negative contributor.

107 stocks give bullish signals
Over 100 stocks crossed above the 50-day exponential moving average (EMA) giving bullish signals. They include names like Vodafone Idea, IDFC First Bank, Power Finance Company, Axis Bank, SJVN, Oriental Bank of Commerce, Karnataka Bank and NLC India, among others.