Stocks in Focus on August 27: IGL, HAL to ICICI Bank; here are expected newsmakers of the day
Stocks in Focus on August 27: IGL, HAL, ICICI Bank, Oberoi Realty and ICICI Securities, etc. are expected newmakers throughout the intraday trade session.
Stocks in Focus on August 27: The domestic stocks markets closed with decent gains on Wednesday, August 26, 2020. The firmness was supported by private banks and auto stocks. The S&P BSE Sensex rose 230.04 points or 0.59% at 39,073.92. The Nifty 50 index added 77.35 points or 0.67% at 11,549.60. It has risen 2.10% in four sessions. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, August 27, 2020. List of such five stocks:
Triggers: There are certain events, like GST Council Meet, RBI Governor address, OMO, Results Today, Expiry, F&O Exits, Jackson Hole Conference, Allcargo Logistics, AGM and Ex-dividend, which can create positive/negative reactions in the markets. Find them in detail:
Results Today
F&O: NMDC (post-market), GMR Infra (variable)
Cash: Avanti Feeds, IDFC, PNC Infra, ICRA, HCC, Gayatri Projects, Edelweiss Fin Services, Himatsingka Seide, Noida Toll Bridge.
See Zee Business Live TV streaming below:
GST Council Meet: The 41st meeting of the GST Council will be held via video conferencing today.
RBI Governor Address: Keynote Address by RBI Governor Shaktikanta Das at Unlock BFSI 2.0 organised by with Business Standard at 10:30 am on Thursday, August 27, 2020
Open Market Operation (OMO): Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operation (OMO) for an aggregate amount of Rs 20,000 crores in two tranches of Rs 10,000 crores each. The auctions would be conducted on August 27, 2020, and September 3, 2020.
August Series Expiry: August 2020 series will expire today.
F&O Exists: Three companies, namely Century Textiles, Equitas Holdings and Ujjivan Financial, will get out of the futures and options (F&O) market. The changes will be effective from tomorrow, i.e. August 28, 2020.
Jackson Hole Conference: Federal Reserve Chair Jerome Powell is scheduled to deliver his speech at the Jackson Hole conference to be held today in the evening. Some changes related to inflation targeting and new policies to deal with the Coronavirus pandemic are likely to be announced at the conference
Allcargo Logistics: The Board of Directors of the Company is scheduled to meet today, to consider and approve the proposal for voluntary delisting the equity shares of the company. The promoter of the company seeks to buy 29.99% of the paid-up equity shares of the company from the shareholders. As of the date, the members of the Promoter Group collectively hold 70.01% of the paid-up equity share capital of the Company.
AGM Today: Annual General Meeting of companies like Aurobindo Pharma Ltd, Bosch Ltd, Cadila Healthcare Ltd, Cipla Ltd, GMM Pfaulder Ltd, Ratnamani Metals & Tubes Ltd, Sun Pharmaceuticals Industries Ltd and Zydus Wellness Ltd, is scheduled to be held today.
Ex-Dividend today: Allied Digital, Associate Alcohols, Diamines Chemicals, Ecoplast Ltd., Greenply, Hester Biosciences, Ishan Dyes Chemicals, Munjal Showa Ltd, Orissa Bengal Carrier Ltd (OBCL), Pfizer, Sterlite Technologies and Supershakti Metaliks, will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date.
Ex-Dividend
Allied Digital Final Dividend - Rs. - 0.5000
Associate Alcohols Final Dividend - Rs. - 1.0000
DIAMINES Final Dividend - Rs. - 4.0000
ECOPLAST Final Dividend - Rs. - 1.5000
GREENPLY Final Dividend - Rs. - 0.4000
HESTERBIO Dividend - Rs. - 6.6000
ISHANCH Final Dividend - Rs. - 1.0000
MUNJALSHOW Final Dividend - Rs. - 4.5000
OBCL Dividend - Rs. - 0.5000
PFIZER Final Dividend - Rs. - 10.0000
STRTECH* Final Dividend - Rs. - 3.5000
SUPERSHAKT Dividend - Rs. - 0.5000
Post Market Results: These companies, IGL, GMDC, Star Paper and Marathon Nextgen Realty, have reported their financial results of the first quarter of the financial year 2020-21 (Q1FY21) after the market was closed on Wednesday. Find in details:
Indraprastha Gas Limited (IGL): The Natural gas distribution company (IGL) on Wednesday reported an 87.5% quarter-on-quarter decline in standalone profit at Rs 31.8 crore for the quarter ended June 30, 2020. It had posted a net profit of Rs 253.4 crore in the previous quarter ended March 31, 2020. Revenue from operations dropped 58.9% to Rs 638.5 crore as against Rs 1,552 crore posted in the previous quarter. EBITDA stood at Rs 83.4 crore, down 77.9% to Rs 376.6 crore posted in Q4FY20. The margin contracted to 13.1% in Q1FY21 from 24.3% posted in Q4FY20.
Gujarat Mineral Development Corporation (GMDC): The minerals and lignite mining company on Wednesday reported a 42.8% year-on-year rise in consolidated profit at Rs 136.1 crore for the quarter ended June 30, 2020. It had posted a net profit of Rs 95.3 crore in the corresponding quarter last year. The Revenue from operations dropped 52.4% to Rs 240.1 crore as against Rs 504.9 crore posted last year. The company has posted a negative EBITDA at Rs 1 crore against the positive EBITDA of Rs 113.3 crore posted last year. The margin contracted to – (minus) 0.4% in Q1FY21 against 22.4% posted in Q1FY20.
Star Paper Mills: The paper mills company Star Paper on Wednesday reported a 96.2% year-on-year drop in net profit at Rs 0.3 crore in the quarter ended on June 30, 2020. It had posted a net profit of Rs 7.8 crore in the corresponding quarter last year. Revenue from operations dropped 70.5% to Rs 26.3 crore as against Rs 89.2 crore posted last year. The company has posted a negative EBITDA of Rs 3 crore against positive EBITDA of Rs 11.4 crore posted last year. The margin contracted to -11.4% in Q1FY21 from 12.8% posted in Q1FY20.
Marathon Nextgen Realty: Marathon Nextgen on Wednesday reported a 70.1% year-on-year rise in consolidated profit at Rs 11.4 crore for the quarter ended June 30, 2020. It had posted a net profit of Rs 6.7 crore in the corresponding quarter last year. Revenue from operations dropped 2.8% to Rs 58.7 crore in Q1FY21 as against Rs 60.4 crore posted in Q1FY20.
Godrej Prop / Kolte Patil/ Oberoi Realty / Ajmera Realty: Maharashtra government has decided to temporarily reduce the stamp duty on real estate from 5% to 2% until December 31, 2020. Stamp duty from January 1, 2021, until March 31, 2021, will be 3%.
ICICI Securities/ ICICI Bank: Private sector lender ICICI Bank on Wednesday said that its board has approved to offload up to 2% stake in broking and investment banking unit ICICI Securities in next 30 days. The stakes will be sold to meet the minimum public shareholding (MPS) norms. ICICI Bank holds a 79% stake in ICICI securities, which must be brought down to at least 75% by March 2021 to meet the MPS norms.
Hindustan Aeronautics Limited (HAL): Government has decided to sell up to 15% stakes in Hindustan Aeronautics through an offer for sale (OFS) that is scheduled to take place on August 27-28. The floor price has been fixed at Rs 1,001 per equity share of the company. The price is at a 15% discount to Wednesday's closing price of Rs 1,177.75. The stake sales will be open for non-retail investors today, i.e. August 27, 2020, and for non-retail investors tomorrow, i.e. August 28, 2020. Base offer size is 10% and the over subscription option is 5%.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.