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EquityPandit

EquityPandit
MARKETS

Shoppers Stop Shares Fell 3.5% after Q1 Net Profit Slumps 34%

Shoppers Stop shares slumped after the June quarter net profit fell 34% over last year to Rs 14.9 crore.

Shoppers Stop shares slumped 3.5% to Rs 756 at 11.37 am after the June quarter net profit fell 34% over last year to Rs 14.9 crore. The stock has gained 7.19% since January 1, 2023.

The company stated a 4% growth in revenue at Rs 988 crore in the April-to-June quarter over the corresponding period last year. Its earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 7% to Rs 180 crore YoY in the same period.

ICICI Securities mentioned that the demand continues to be muted after the previous festive season. However, partial revival is saw from mid-June onwards. 

The retailer’s Indian apparel category outpaced other categories, with the ‘Haute Curry’ brand mounting 42% and ‘Kashish’ 14%. Numbers for Shoppers Stop’s smart casual wear for men category surged 39%.

Shoppers Stop’s beauty segment shines 14% YoY to Rs 216 crore. It contributed 16.4% to the business’s total revenue.

The company’s MD and CEO, Venu Nair, said that the 3P customer-centric strategy of Personalisation, Premiumisation, and Private label has correspondingly augmented average transaction value and average selling price by 8% and 5%.

Shoppers Stop opened six beauty stores, five department stores, and one HomeStop store. The company’s overall store footprint as of June 30 stands at 218.

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MARKETS

RailTel Corp Secures Order Worth Rs 163 Crore from Ircon International; Shares Gain 

Ali Waghbakriwala

Shares of RailTel Corporation of India Ltd were trading almost 2% on Tuesday, 1 April, after the company announced securing an order worth Rs 163 crore from Ircon International. 

In its regulatory filing, the company said, “This is to inform you that RailTel Corporation of India Ltd has received the work order from Ircon International Limited for works amounting to Rs 1,62,58,96,785 (including tax).”

RailTel has been awarded a contract to implement integrated tunnel communication, including Railway General Telecommunication systems, for the Sivok-Rangpo New Broad Gauge Rail Line project under the Northeast Frontier (NF) Railway.

The project is set for completion by 28 March 2026, RailTel confirmed in a statement.

Established in 2000 as a public sector undertaking under the Ministry of Railways, RailTel plays a key role in modernizing railway communication and expanding broadband connectivity across India.

The company’s core services include providing broadband access in urban and rural areas, delivering critical communication solutions such as video surveillance and e-office services, and offering Wi-Fi and on-demand content at major railway stations. Additionally, it focuses on network upgrades to enhance train operations and overall railway administration.

However, at 3:30 pm, the shares of RailTel shed all their gains and closed 0.18% lower at Rs 302 on NSE.

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MARKETS

Transrail Lighting Shares Shot Up 7% on Securing Order Worth Rs 240 Crore 

Ali Waghbakriwala

Shares of Transrail Lighting Ltd shot up 7%, hitting an intraday high of Rs 494.40 on 1 April after securing an order worth Rs 240 crore for constructing a transmission line in the International market. 

Randeep Narang, MD & CEO of Transrail Lighting Ltd, said, “We remain committed to executing key projects and expanding our footprint across relevant markets. Backed by a robust order book and a strong execution track record, we are well-energised for this year.”

Narang added that this latest Transmission Line EPC order reinforced the company’s presence in the transmission and distribution sector. 

In the previous month, the company received fresh orders totalling Rs 1,647 crore across the power transmission, distribution, and railway sectors. These included Letters of Award for significant international transmission and distribution projects, encompassing the engineering, procurement, and construction of transmission lines and substations.

The company offers end-to-end solutions, including design, engineering, supply, manufacturing, construction, and testing, across its various business segments, such as Power Transmission & Distribution, Civil Construction, Railways, Pole & Lighting, and Solar EPC.

At 2:54 pm, the shares of Transrail Lighting were trading 6.28% higher at Rs 491.60 on NSE.

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MARKETS

HBL Engineering Shares Boost 12% on Order from Central Railway 

Ali Waghbakriwala

The shares of HBL Engineering Ltd surged by more than 12% on Tuesday, 1 April, after the company received five Letters of Acceptance (LoA) worth Rs 762.56 crore for the provision of Kavach across 413 stations, covering 3,900 kilometres (Km). 

According to a Monday exchange filing, HBL has received five letters of approval from the Central Railway for the provision of the Kavach within 413 stations, which is expected to be completed in 18 months. The company also revealed that Rs 3,618 crore has been spent on Kavach contracts given out so far this year.

In a 28 March exchange statement, the company also stated that it has received two LoAs for the provision of Kavach systems, worth Rs 499.68 crore, from North Central Railway and Western Railway.  

HBL Engineering specializes in designing, manufacturing, and delivering a wide range of power solutions. The business has been well-known in a variety of industries since its establishment in 1977, including railroads, energy, telecommunications, defence, and renewable energy. HBL is particularly renowned for its expertise in providing batteries, inverters, and energy storage systems as backup power sources. The company’s products are used in numerous mission-critical applications that need reliable power.

HBL is a manufacturer of advanced battery systems for the defence sector’s tactical communication systems, submarines, and aircraft. For grid applications, the business also provides energy storage devices to fulfil the growing demand for renewable energy integration.  

At 12:48 pm, the shares of HBL Engineering were trading 10.58% higher at Rs 522.50 on NSE.

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MARKETS

RITES Shares Surge 3% on Bagging Contracts Worth Rs 312 Crore 

Ali Waghbakriwala

Shares of RITES Ltd surged 3% on 1 April after the company announced securing contracts worth S312.75 crore from Oil India and Numaligarh Refinery.

The company was given a letter of award (LoA) by Oil India (OIL) for Rs 157.25 crore to construct a workmen’s home complex (BQ Area) at OIL, Duliajan, using a depository works form and turnkey approach, which is anticipated to be completed in 36 months.  

Furthermore, the company was given a LoA for Rs 155.50 crore by Numaligarh Refinery for the turnkey, cost-plus railway sidings at NRL Panchgram Terminal, the third railway spur at Rangapani (SMT), and Duliajan (Crude Oil TW Loading Railway Siding) of OIL.

The aforementioned improvements need to be completed within 24 months of the site being turned over.  

On 17 March, Ntokoto Rail Holdings Pty. awarded additional work for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives equipped with new Cape Gauge Bogies, Traction Motors, Control System Air Braking, etc., overhauled at a designated facility and on-site warranty support for a year. The addition to the contract agreement was delivered to the company on 17 March.

The order will be performed in six months and is now valued at USD 10.80 million (CIF) rather than USD 5.40 million (CIF).  

Earlier, on 6 March, the company received a LoA from South Central Railway for a project worth Rs 27.9 crore. The project includes a final location survey for the High-Speed Elevated Rail Corridor between Hyderabad and Chennai and Hyderabad and Bengaluru.

At 11:35 am, the shares of RITES were trading 2.03% higher at Rs 227.90 on NSE. 

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MARKETS

Stocks Under F&O Ban: 

Ali Waghbakriwala

Under the futures and options (F&O) segment, no stocks were banned from trade on Tuesday, 1 April, by the National Stock Exchange (NSE). 

Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.

The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market. 

The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.

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