Overnight Digest - Five stocks to watch out on February 15

The five stocks that may witness some kind of significant movement on Feb 15 in the markets are: Sun Pharma , Canara Bank , Apollo Hospital, M&M and Andhra Bank.

Sun Pharmaceutical: Sun Pharmaceutical Industries Q3 FY16 earnings surpassed analysts' expectations on Friday with profit rising 28% sequentially (up 258.3% year-on-year) to Rs 1,416.6 crore. Bottomline on sequential basis was boosted by other income, lower tax cost and good operational performance, while lower tax expenses and other income supported profitability YoY. Revenue increased 3.6% (up 2% YoY) to Rs 7,082.1 crore in quarter ended December 2015 compared to Rs 6,837.6 crore in preceding quarter.

Canara Bank: Canara Bank disappointed analysts with its third quarter earnings on Friday. Profit plunged 87 percent year-on-year to Rs 85 crore on higher provisions during the quarter. Net interest income, the difference between interest earned and interest expended, declined by 6.5 percent to Rs 2,226.6 crore in quarter ended December 2015 compared to Rs 2,380.48 crore in corresponding quarter of last fiscal. Provisions for bad loans jumped 17.9 percent sequentially and 69.8 percent year-on-year to Rs 1,428.9 crore in quarter ended December 2015. Asset quality weakened during the quarter with gross non-performing assets (NPAs) rising 157 basis points QoQ and 249 bps YoY to 5.84 percent. Net NPA climbed 100 bps QoQ and 148 bps YoY to 3.9 percent in quarter ended December 2015.

Apollo Hospital: Healthcare major Apollo Hospitals Enterprise reported 14.96% rise in standalone net profit to Rs 109.23 crore for the December quarter. The company had posted a net profit of Rs 95.01 crore for the corresponding period of the previous fiscal, in a BSE filing. Standalone total income from operations rose to Rs 1,380.52 crore for the quarter under consideration as against Rs 1,182.53 crore for the same period a year ago.

Mahindra and Mahindra (M&M): M&M disappointed analysts on all parameters this Friday by reporting a 15% decline in third quarter consolidated profit at Rs 820.5 crore year-on-year. Bottomline was impacted by higher tax cost and high base during the previous year.

Andhra Bank: Andhra Bank reported a 82.91% yoy plunge in net profit at Rs 34.46 crore for the third quarter ended December 31, on higher bad loans. The bank's net profit was Rs 201.71 crore in the corresponding October-December quarter of 2014-15. Total income increased to Rs 4,801.4 crore for the quarter from Rs 4,540.61 crore for the quarter ended December 31, 2014, it said in a BSE filing. Provisions for bad loans were raised to Rs 905.56 crore for the quarter ended December, up from Rs 541.52 crore kept aside in the same quarter of the previous fiscal. The gross non-performing assets (NPAs) or bad loans stood at 7% of the gross advances during the quarter as against 5.99% a year ago. Net NPAs were 3.89% of net advances, up from 3.7 per cent a year ago.