Stocks in Focus on April 20: HDFC Bank, Airline Stocks to Tata Motors; here are the 5 Newsmakers of the Day

Benchmark domestic stocks climbed more than three per cent amid positive global cues on Friday, April 17, 2020. Sensex at Bombay Stock Exchange surged 986 points, or 3.22 per cent, to close at 31,589. Similarly, the Nifty at National Stock Exchange settled 273 points, or 3.05 per cent, up at 9,267. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Monday, April 20, 2020. List of such five stocks:

HDFC Bank: The private lender on Saturday reported a 17.7% year-on-year (YoY) rise in net profit at Rs 6,927.70 crore. The figure marginally missed Zee Business poll estimate of Rs 7,237 crore. The bank’s Net Interest Income (NII) for the quarter climbed 16.2% to Rs 15,204 crore from Rs 13,089 crore. It reported doubling of provisions to Rs 3,784.50 crore in the March quarter compared with Rs 1,899.20 crore in the same quarter last year. Provisions grew by 24% on the quarter-on-quarter (QoQ) basis to Rs 3,784.50 crore in March quarter from Rs 3043.6 crore of December quarter. Gross NPA for the quarter eased to 1.26% from 1.42% in the December quarter and 1.36 per cent in the year-ago quarter. Besides, the Bank has made additional provisions of Rs 1,550 crore due to COVID-19 impact. Also it, the bank’s board had shortlisted the appointments of Sashidhar Jagdishan and Bhavesh Zaveri MD and CEO of the bank. 

Kotak Mahindra Bank: The Board of Directors of the Company is scheduled on April 22, 2020, to consider raising of equity capital by the Bank through private placement, follow-on public offering ('FPO'), Qualified Institutions Placement ('QIP') or through a combination. Besides, Harsha Upadhyaya, CIO-Equity, an employee of the Bank's subsidiary, Kotak Mahindra Asset Management Co. Ltd., has submitted his trading plans to sell around 51,000 equity shares of Kotak Mahindra Bank held as ESOP as part of his remuneration between November 4, 2020, and May 24, 2021.

Indigo & SpiceJet in Focus: Airlines shares will remain in focus today. IndiGo has closed its bookings till May 31, 2020. The decision was based on the order of the Directorate General of Civil Aviation (DGCA) which on Sunday evening passed an order asking airlines to stop bookings. All other private airlines are also set to abide by the order and with that flight's operations within the country are likely to be suspended till the end of May, unless the government decides to allow it. Besides, SpiceJet on Sunday clarified that no company-wide decision has been taken on the issue of salary cuts or leave without pay at SpiceJet for April. However, it said a limited number of staff from its engineering team have been put on leave without pay for a month each on a rotational basis and that no decision has been taken on salary cut across the company.

TVS Motors: TVS Motor Company Ltd has acquired the iconic British bike manufacturer Norton Motorcycles (UK) Ltd is an all-cash transaction of GBP 16 million (Rs 153.12 crore), the company said in a regulatory filing on Friday late evening. 

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TATA MOTORS: Jaguar Land Rover retail sales tumbled 31% in the March quarter as compared to the same quarter of the last fiscal as a result of the COVID-19 pandemic significantly impacting sales in the fourth quarter. It has temporarily suspended production at its facilities outside China.