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Stocks in Focus on April 7: Pharma Stocks, Lupin to CESC; here are the 5 Newsmakers of the Day


The domestic stocks markets closed in a red on Friday, April 3, 2020. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Tuesday, April 7, 2020. List of such five stocks: 

Pharma Stocks in Focus: Indian Government on Monday lifted the curbs on exports of 13 active pharmaceutical ingredients (APIs) and their formulations. The action will benefit companies like IPCA Labs, IOL Chemicals and Zydus Cadila.


HDFC Bank Q4 Update: The private lender’s advances aggregated to Rs 9.93 lakh crore in the fourth quarter FY20, marking a growth of about 21% as compared to Rs 8.19 lakh crore a year ago and Rs 9.36 lakh crore in Q3FY20. The bank’s deposits aggregated grew by 24% (YoY)to Rs 11.46 lakh crore in Q4. 
Sobha Ltd Q4: Realty firm Sobha Ltd on Friday said the company’s sales bookings declined from Rs 920.5 crore to Rs 694.5 crore (YoY).
Godrej Properties: The Mumbai-based Godrej Properties’ booking value in the fourth quarter financial year 2019-20 (Q4FY20) grew 10% year-on-year (YoY). The company sold over 3,000 homes in the fourth quarter. The company said its booking value for FY20 grew 11% YoY at Rs 5,915 crore with residential sales rising by 14% YoY to Rs 5,840 crore comprising of over 7,300 homes sold. It added, the company has launched 17 new projects and phases in FY20.

Bajaj Finance: The company’s assets under management (AUM) grew 2% year-on-year (y-o-y) to Rs 1.47 lakh crore as on March 31, 2020. Its new loan book grew by 3% (YoY). The company continues to remain well capitalised with the capital adequacy ratio (CRAR) of approximately 25 per cent as of March 31, 2020. 

Kotak Mahindra Bank: The private lender has reported a 20% YoY rise in its deposit base to Rs 2.59 lakh crore in Q4FY20 compared to Rs 2.16 lakh crore in the same period in the last fiscal year. Advances of the private sector lender reported a growth of 6.7% in Q4 FY20 to Rs 2.2 lakh crore compared to Rs 2.05 crore a year ago.
AU Small Finance: AU Small Finance Bank’s aggregate deposit as of March 31, 2020, stood at Rs 26,163 Crores as against Rs 19,422 crores, up 34.7% YoY. The average cost of funds for the FY 2019-20 was at 7.69% as compared to 7.87% for the FY 2018-19. Asset Under Management in Q4FY20 stood at Rs 31,133 crores up 28% YoY from 24,245 crores as of March 31, 2019. The Gross NPA was at 1.9% against 1.88% as of December 31, 2019. The Net NPA was at 0.97% as when compared to 1.01% as of December 31, 2019. Provisional Coverage Ratio was at approx. 49% as of March 31, 2020, against 46.80% as of December 31, 2019.

Rating Action: Certain stocks will be in focus today due to the actions taken by different rating agencies either in favour of or against them. Here is the list: 

IndusInd Bank: Moody’s Investors Service has placed the lender’s domestic and foreign currency issuer rating under review for a downgrade. This is due to its relatively high concentration of microfinance and vehicle finance loans. Besides, India Ratings and Research (Ind-Ra) has revised IndusInd Bank’s outlook to negative from stable while affirming the long-term issuer rating at AA-plus.

ICICI Bank, Axis Bank & IDBI Bank: Moody’s Investors Service has downgraded the rating outlook for ICICI Bank and Axis Bank to negative from stable. It revised IDBI Bank’s outlook to stable from positive. The move was driven by a potential deterioration in asset quality resulting from coronavirus related disruptions. 

Vedanta: Crisil has revised its rating outlook on non-convertible debentures and long-term bank facilities of Vedanta Limited to ‘Negative’ from ‘Stable’ while reaffirming the rating at AA.
HCL Infosystems: India Ratings revised its long-term issuer rating from A- to BBB-/Negative.
Omaxe: CARE revised long term bank facilities to BB+/Stable from BBB-/Negative. 

Lupin: Launches Mycophenolic Acid Delayed-Release Tablets USP in the U.S. The company’s alliance partner Concord Biotech had received approval from the U.S. FDA. Mycophenolic Acid Delayed-Release Tablets USP had annual sales of approximately $156 million in the U.S.

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CESC: HDFC Mutual Fund increased stake to 9.09% from 6.66% on March 31.


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