Stocks in Focus on June 23: The market ended the volatile session with decent gains on Monday, June 22, 2020. It managed to shrug off the negative global cues. The barometer S&P BSE Sensex climbed 179.59 points or 0.52% at 34,911.32. Nifty 50 rose 66.80 points or 0.65% to 10,311.20. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, June 23, 2020. List of such five stocks:
Info Edge/ AIA Engineering /Balaji Amines/Sudarshan Chemicals/Aegis Logistics: They are the companies that reported their financial results of the fourth quarter of the financial year 2019-20 (FY20) after the market hours on Monday, June 22, 2020. Find details:
Info Edge: Info Edge India on Monday announced the financial results of the quarter that ended on March 31, 2020, and reported a 37% year-on-year decline in standalone profit after taxes (PAT) at Rs 41.6 crore. It posted a net profit of Rs 66 crore in the corresponding quarter in the last financial year. The company’s revenue from operations rose 10.6% to Rs 323 crore against Rs 292 crore posted last year. EBITDA stood at Rs 118 crore, 30% up from Rs 91 crore posted last year. The margin grew to 36.5% from 31.2% of last year. Besides, the company’s board has approved Qualified Institutions Placement (QIP) of Rs 1875 crore.
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AIA Engineering: AIA Engineering Ltd. announced its quarterly results on June 22, 2020, and reported a 9% year-on-year decline in consolidated profit at Rs 142 crore. It posted a net profit of Rs 156 crore in the corresponding quarter last year. Revenue from operations declined 3% to Rs 857 crore from Rs 888 crore posted last year in the same quarter. EBITDA stood at Rs 185 crore, down 4% from Rs 192 crore. The margin remained unchanged at 21.6%.
Balaji Amines: Balaji Amines Ltd posted its quarterly results of Q4FY20 on Monday and reported a 17% year-on-year rise in the consolidated profit of Rs 30.8 crore. It posted a profit of Rs 26.45 crore a year ago in the same quarter. Revenue from operations grew 14% to Rs 258 crore against Rs 226 crore posted last year.
Aegis Logistics: Aegis Logistics on Monday reported its quarterly results for the period ended on March 31, 2020, and reported a 46% year-on-year decline in consolidated profit to Rs 33.5 crore. It posted a net profit of Rs 62 crore last year in the same period. Its revenue from operations declined 33% to Rs 1,242 crore from Rs 1,852 crore. EBITDA stood at Rs 93 crore, down 9.7% from Rs 103 crore. The margin grew to 7.5% against 5.56%.
Sudarshan Chemical industries: Sudarshan Chemical on Monday announced the financial results for the period ended March 31, 2020, and reported a 6% year-on-year rise in consolidated profit to Rs 27.3 crore. The company posted a profit of Rs 25.81 crore in the corresponding quarter of the last financial year. Revenue from operations grew by 4.5% to Rs 449 crore from Rs 430 crore posted last year. EBITDA stood at Rs 54 crore, down 17% from Rs 65.4 crore. Margin contracted to 12% from 15.2%.
SBI/PNB/ BoB/ UTI Mutual Fund: UTI Asset Management Company (AMC) has received SEBI’s go-ahead to raise a fund of around Rs 3,000 crore through its initial public offering (IPO). This will allow PSU shareholders of SBI, LIC, BoB and PNB, to reduce their stakes or exit from the company completely. They together hold 18.5% stakes in the company. Similarly, US investment firm T Rowe price International holds 26% stakes in it.
IT Stocks in Focus: US President Donald Trump on Monday signed an executive order that temporarily blocks entry of immigrant workers in the US, including those coming under the H-1B visas programme for highly skilled workers and L visas for managers and specialized workers being transferred within a company.
IndusInd Bank/ HDFC AMC/ ICICI Prudential/ Glenmark pharma/ Indostar: Fund action was seen in these companies.
IndusInd Bank: Promoter of IndusInd International Holdings acquired 1.39 lakh shares from June 18-19, 2020. Promoters now hold 9.85% stake in IndusInd bank.
HDFC AMC: Standard Life Investments (SLI), one of the promoters of HDFC Asset Management Company, has offloaded 1.2 crore shares (5.64% equity) through an offer for sale on June 17 and June 18. With this SLI’s stakes dropped to 21.25% from 26.89%.
ICICI Prudential Life Insurance: Government of Singapore acquired 1.64 crore shares at Rs 391.6 per share.
Glenmark Pharma: HSBC Pooled Asian Equity Fund has sold 18.79 lakh shares at Rs 527.77 per share.
Indostar Capital Finance: Edelweiss Mutual Fund acquires 22.65 lakh shares at Rs 285 per share.
Events: Certain events, like MSCI and India, Russia, China meet, are scheduled to happen today which will have an impact on the stocks in India. Find details:
MSCI: MSCI to announce its market classification review for 2020 today.
Trilateral Foreign Minster’s meet: The Russia-India-China trilateral foreign ministers’ meeting is scheduled to be held today. External Affairs Minister S Jaishankar will join his Russian and Chinese counterparts at a virtual conference of the Russia-India-China trilateral.