Stocks in Focus on June 25: The domestic stock markets, Sensex and Nifty 50 corrected sharply on Wednesday, June 24, 2020. The barometer BSE Sensex fell 561.46 points or 1.58% to 34,868.98. The Nifty 50 index slumped 165.70 points or 1.58% at 10,305.30. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, June 25, 2020. List of such five stocks:
Canara Bank/ UBL/ Bombay Burmah/ Asahi India/ India Glycols/ Sangam India/ Prestige Estates: 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 Thursday, June 25, 2020. Find details:
Canara Bank: State-owned Canara Bank on Wednesday announced the financial results for the quarter that ended on March 31, 2020, and reported widening of its standalone net loss to Rs 3,269 crore on year-on-year (YoY) basis. Its loss stood at Rs 551 crore a year ago in the same quarter. The bank’s net interest income fell by 5.2% to Rs 3,318.5 crore against the NII of Rs 3,500 crore posted a year ago. The lender made huge provisioning of Rs 5,373 crore, which was 2.7% lower than Rs 5,524 crore posted in the corresponding quarter last year. On the quarter-on-quarter (QoQ) basis the lender provisioned Rs 1,803 crore in the December quarter of FY20. Gross NPA declined to 8.2% on a QoQ basis from 8.4%.
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United Breweries Ltd (UBL): UBL on Wednesday reported a 39% year-on-year decline in standalone profits to Rs 41.2 crore for the quarter that ended on March 31, 2020. It posted a net profit of Rs 67.9 crore in the corresponding quarter last year. Revenue from operations fell 12.6% to Rs 1,424.2 crore against revenue of Rs 1,629.4 crore posted last year. EBITDA stood at Rs 132.3 crore, 22.7% down from Rs 171.2 crore of last year. The margin contracted to 9.3% from 10.5%.
Bombay Burmah Trading Corp Ltd: The company on Wednesday reported a 62% year-on-year decline in consolidated profit to Rs 273 crore for the quarter ended on March 31, 2020. It posted a profit of Rs 725 crore in the corresponding quarter last year. Revenue from operations grew 1% to Rs 2,933 crore against Rs 2,903 crore posted in the same quarter last year. EBITDA stood at Rs 452.6 crore, up 8.2% from Rs 418 crore of last year. The margin grew to 15.4% from 14.4%.
Asahi India Glass Ltd: The glass solution and manufacturing company Asahi Indian Glass on Wednesday reported a 15.6% year-on-year rise in consolidated profit to Rs 52 crore in the quarter that ended on March 31, 2020. Its net profit stood at Rs 45 crore in the corresponding quarter last year. However, the revenue from operations fell 17.8% to Rs 595 crore from Rs 724 crore posted last year. EBITDA stood at Rs 89.3 crore, down 25.7% from Rs 120.2 crore of last year. Margin contracted to 15% against a margin of 16.6% posted last year.
India Glycols Ltd: The company on Wednesday reported a 33% year-on-year decline in consolidated profit at Rs 17.9 crore in Q4FY20. Its net profit in Q4FY19 was Rs 26.7 crore. Revenue from operations grew 9.4% to Rs 1,526.9 crore when compared with revenue of Rs 1,395.5 crore posted last year in the same quarter. EBITDA was Rs 76 crore, down 12% from Rs 86.4 crore and the margin contracted to 5% against 6.2% posted last year.
Sangam (India) Ltd.: The company has announced a net profit of Rs 3.4 crore in the quarter ended that ended in March 2020. Its profit stood at Rs 0.7 crore in the corresponding quarter last year. Revenue from operations declined by 17.8% to Rs 401.5 crore against revenue of Rs 488.3 crore posted last year. EBITDA stands at Rs 43.5 crore, up 13.7% to Rs 38.3 crore posted last year. The margin grew to 10.8% Vs margin of 7.8% posted last year.
Prestige Estate: The realty firm reported a 64% decline in its consolidated profit to Rs 51.1 crore in the quarter that ended on March 31, 2020. It posted a profit of Rs 141.9 crore in the corresponding quarter last year. Revenue from operations grew by 0.15% to Rs 1,982.3 crore in Q4FY20 from revenue of Rs 1,979.3 crore posted in Q4FY19. EBITDA stands at Rs 500 crore, up 2.4% from Rs 488 crore posted last year in the same quarter. The margin grew to 25.2% from 24.7%.
Bharti Infratel: Bharti Infratel board on Wednesday extended the deadline for the long-pending merger with Indus Towers to August 31, 2020, as the conditions precedent to be fulfilled for the scheme to be effective cannot be completed by the extended-Long Stop Date i.e. June 24, 2020.
Metropolis Healthcare: The promoters the diagnostic services provider has divested 6.03% stakes (30.54 lakh shares) in the company at Rs 1,383.33 apiece. The proceeds from the divestment will be used for substantial payment of loans and reduce the pledged equity shares.
Andhra Paper: Promoter International Paper Investments will sell 39.7 lakh shares (10% equity) through an offer for sale (OFS). The floor price for the same is set at Rs 186 per share. Trade date for non-retail investors is June 25 and for retail investors, it is June 26.
SEBI board meet/ F&O Expiry/ Global Markets Shut/ US GDP data/ Nifty IT: These are certain events that will have an impact on the domestic share markets across the day today. Find things in detail:
SEBI Board Meet: Important decisions that can be taken at the meet include trading time for agro commodities on NCDEX will be same as before. The trading session of Agri commodities will be normalized and will turn similar to the past from today. Trading in Crude Palm Oil, Cotton, Cotton, Soya Oil and Agridex till 9 pm. While trading in the rest of the Agri commodities will be held from 9 am to 5 pm.
F&O Expiry: The F&O contracts for June will expire today.
Nifty IT: Today is the last day of trading in Nifty IT monthly contract.
US GDP data: US will report jobless claims and GDP data today.
Global Markets Shut: Markets in Hong Kong, China and Taiwan are shut today on account of a holiday.