Stocks in Focus on August 6: Domestic stocks markets ended near flat line after a volatile session on Wednesday, August 5, 2020. The barometer index, the S&P BSE Sensex fell 24.58 points or 0.07% at 37,663.33. The Nifty 50 index rose 6.40 points or 0.06% at 11,101.65. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, August 6, 2020. List of such five stocks:
Triggers: There are certain events, like RBI Policy, Weekly Expiry, Results Today, AGM, Ex-Dividend and BoE Policy meet, which can create positive/negative reactions in the markets. Find them in detail:
RBI Policy: Credit policy decisions will be announced today.
Weekly Expiry: The expiry of weekly options on Nifty and Bank Nifty today.
Results Today: HPCL, Pidilite, Lupin, Torrent Power, Adani Enterprises, Vodafone Idea, Blue Star, Gujarat Pipavav, GSPL, Honeywell Automation, Mangalore Chemicals, Matrimony.com, Rane Engine Valve, Novartis India, Deepak Nitrite, IFB Industries, Sumitomo Chemicals, BASF India, CanFin Homes, Apar Industries, KEI Industries, TD Power System, Kakatiya Cement, Dalmia Bharat, Adani Power, Whirlpool, JK Tyre, Indian Hotels, Jamna Auto and Maithan Alloys.
AGM: Annual General Meeting of companies, like BASF India Ltd, Bata India Ltd, Blue Star Ltd, Essel Propack Ltd, Gujarat Pipavav Port Ltd, Tasty Bite Eatables Ltd, Torrent Power Ltd, Trent Ltd, Zensar Technologies Ltd, is scheduled to be held today.
See Zee Business Live TV streaming below:
Ex-Dividend today: Alkyl Amines Chemicals, BCPL, Bharti Airtel, GMM Pfaudler, Hexaware Technologies, Lakshmi Electrical Control systems, Madhav Infra Projects, NGL Fine-Chem Ltd, Rane Holdings, SRF Ltd, Steelcast Ltd, Sukhjit Starch Chemicals, Tata Steel, Vishnu Chemicals, Welspun Corp, Whirlpool and Yash Pakka Ltd will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date.
Bank of England (BoE) Policy Meet: BoE’s decision on interest rates to be announced today.
Results: These companies, namely Canara Bank, DLF, Apollo Tyre, VIP Industries, Inox, Adani Gas, J Lakshmi Cement, Birlasoft, Hawkins, have reported their financial results after the market hours on Wednesday. Find in details:
Canara Bank: The public sector bank Canara Bank on Wednesday reported a 23% rise in net profit at Rs 406 crore for June quarter 2020-21. The bank had posted a net profit of Rs 329 crore in the same quarter of the previous financial year. Net interest income (NII) rose 87% to Rs 6,095 crore in Q1FY21 from Rs 3,252 crore posted last year. Provisions and contingencies for the first quarter were raised to Rs 3,826 crore as compared to Rs 1,899 crore in the year-ago period. The bank’s gross non-performing assets (NPAs) were up slightly up at 8.84% on the quarter-on-quarter (QoQ) basis from 8.21% posted in the previous quarter that ended on March 31, 2020. Net NPA fell to 3.95% on QoQ basis from 4.22%. The bank amalgamated Syndicate Bank with itself effective April 1, 2020.
DLF: The Gurgaon based commercial real estate developer DLF on Wednesday reported a consolidated net loss of Rs 71.5 crore for the quarter that ended on June 30, 2020. It had posted a net profit of Rs 413.9 crore in the corresponding quarter last year. Sales dropped by 58.7% to Rs 548.6 crore as compared with Rs 1,331.1 crore posted in the same quarter last year. EBITDA stood at Rs 1.7 crore, 99% down from Rs 239.5 crore posted last year. Margin contracted to 0.3% in Q1FY21 from 17.9% posted in Q1FY20.
Apollo Tyres: The tyre company has reported a consolidated net loss of Rs 134.5 crore for the first quarter of the financial year 2020-21 that ended on June 30, 2020. It had posted a net profit of Rs 141.6 crore in the same quarter last year. Sales dropped 33.6% to Rs 2,873.4 crore from Rs 4,331.3 crore reported last year. EBITDA stood at Rs 237.2 crore, down 50.1% from Rs 475 crore, while the margin contracted to 8.3% in Q1FY21 from 11% posted in Q1FY20.
VIP Industries: VIP Industries on Wednesday reported a consolidated loss of Rs 51.3 crore for the quarter that ended on June 30, 2020. It posted a net profit of Rs 35 crore in the same quarter last year. Sales in June quarter dropped by 92.8% to Rs 40.3 crore from Rs 564.1 crore posted last year. EBITDA loss stood at Rs 58 crore in Q1FY21 from EBITDA profit of Rs 125 crore posted in Q1FY20.
Inox Leisure Ltd: The multiplex chain operator Inox Leisure on Wednesday reported a consolidated net loss of Rs 97.9 crore for the quarter that ended on June 30, 2020. It posted a net profit of Rs 41.5 crore in the corresponding quarter last year. Sales dropped by 99.9% to Rs 0.25 crore compared to Rs 493 crore posted last year in the same quarter. EBITDA stood at Rs 33.3 crore, down 77.8% from Rs 150.1 crore.
Adani Gas: Adani Gas Ltd, the city gas utility of Adani Group, on Wednesday reported a 50.9% drop in consolidated profit at Rs 38.9 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 79.3 crore in the same quarter last year. Consolidated sales dropped by 56% to Rs 206.5 crore from Rs 478.9 crore posted last year. EBITDA stood at Rs 77.2 crore, down 42.6% from Rs 134.7 crore posted last year. However, the margins grew by 37.3% in Q1FY21 from 28.1% posted in Q1FY20.
JK Lakshmi Cement: JK Lakshmi Cement on Wednesday reported a 5.9% year-on-year decline in consolidated profit to Rs 50.6 crore for the quarter ended on June 30, 2020. The company has posted a net profit of Rs 53.8 crore in the same quarter last year. Consolidated sales dropped 19.8% to Rs 911.5 crore in Q1FY21 from Rs 1,136.3 crore posted in Q1FY20. EBITDA stood at Rs 172.6 crore, down 17.4% from last year’s Rs 208.8 crore. The margin grew to 18.9% from 18.4% posted last year.
Birlasoft: Birlasoft, a CK Birla Group IT firm, on Wednesday reported an 18.5% quarter-on-quarter (QoQ) fall in consolidated profits at Rs 56.3 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 69.1 crore in the previous quarter ended on March 31, 2020. Consolidated sales in the quarter grew by 0.8% to Rs 914.6 crore from Rs 907 crore. The EBITDA stood at Rs 112.9 crore, down 3.2% from Rs 116.6 crore. The margin declined to 12.3% in Q1FY21 from 12.8% posted in Q4FY20.
Hawkins Cookers Limited: Hawkins Cookers on Wednesday reported a 52.5% decline in consolidated profit at Rs 6.4 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 13.6 crore in the corresponding quarter last year. Sales dropped by 29% to Rs 100.8 crore from Rs 142.1 crore posted last year. The EBITDA stood at Rs 9.9 crore from Rs 22 crore posted last year. The margins dropped 9.8% in Q1FY21 from 15.4% posted in Q1FY20.
HDFC Ltd: India’s largest private-sector mortgage lender Housing Development Finance Corp (HDFC) on Wednesday launched its qualified institutional placement (QIP) and warrants to raise up to Rs 14,000 crore. The floor price was set at Rs 1,838.94 per share. The board is scheduled to meet on August 10, 2020, to decide at issue price. It also seeks to raise up to Rs 9,000 crore through issuance of non-convertible debentures.
Alkem Laboratories: Alkem Laboratories on Wednesday said it has launched Favipiravir under the brand name ”Alfluenza” in the country for the treatment of COVID-19. The drug can be used in the management of mild to moderate cases of COVID-19. The founders seek to acquire balance 25% stake in the company.
Xchanging Solutions: Xchanging Solutions board is scheduled to meet on August 13, 2020, to consider delisting offer.