Stocks in Focus on July 16: Vodafone Idea, Infosys to Cochin Shipyard; here are expected newsmakers of the day

Stocks in Focus on July 16: Key equity barometers ended near the flat line with some positive bias on Wednesday, July 15, 2020. The barometer S&P BSE Sensex rose 18.75 points or 0.05% at 36,051.81. The Nifty 50 index rose 10.85 points or 0.10% at 10,618.20. After surging over 2% in afternoon trade, the Sensex and the Nifty witnessed a sharp profit booking in the late trade. Rally in IT shares supported gains, however, a sharp reversal in index major Reliance Industries (RIL) put pressure on the bourses. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, July 16, 2020. List of such five stocks:

Triggers: There are certain events, like Weekly Expiry, Results today, Vodafone, ECB, Shriram Transport Finance, Ineos Styrolution, AGM, Ex-Dividend, which can create positive/negative reactions in the markets. Find them in detail:

Results today: L&T FIN (Q1FY21), L&T Technology Services (Q1FY21), Cyient (Q1FY21), Aditya Birla Money (Q1FY21), VLS Fin (Q4FY20), Bajaj Consumer Care (Q1FY21), will announce their financial results of the respective quarter’s today.

Weekly Expiry of Contracts: Weekly index option contracts will expire on Nifty and Bank Nifty today.

See Zee Business Live TV streaming below: 

Vodafone Idea: The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Tuesday refused to stay the TRAI’s order asking to put on hold Vodafone Idea’s RedX plan offering faster data speeds and priority services to higher-paying postpaid customers. Vodafone Idea had approached the appellate tribunal on Monday. The hearing will continue on 16 July.

European Central Bank: Is scheduled to meet today to decide on the interest rates.

Shriram Transport Finance: Rights shares to be listed today. 

INEOS Styrolution: The company will start the delisting process from the domestic stock exchanges today. The promoter has proposed to acquire up to 43.96 lakh equity shares, representing 25% of the paid-up equity share capital of INEOS Styrolution India held by the public shareholders. The floor price for delisting has been fixed at Rs 419 per share. Investors can tender their shares for delisting between 16 and 22 July 2020.

AGM: Annual General Meeting of Federal Bank and Tata Investments Corporation is scheduled to be held today. 

Ex-Dividends: M&M, Piramal Enterprises, TCS, ABB India, Bombay Burmah, Coromandel International and IRB infra will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date.

Results: Companies, namely Infosys, L&T Infotech, Minda Corp, Andrew Yule, Uttam Galva have reported their financial results after the market hours on Wednesday. Find in details:

Infosys: Infosys on Wednesday posted a 2% quarter-on-quarter fall in consolidated profit at Rs 4,233 crore for the quarter ended on June 20, 2020. It has reported a consolidated profit of Rs 4,321 crore in the previous quarter that ended on March 31, 2020. Consolidated revenue grew by 1.7% to Rs 23,665 crore in Q1FY21 over Rs 23,267 crore posted in Q4FY20. $ Revenue declined 2.4% to $ 312.1 crore from $319.7 crore. EBIT stood at Rs 5,365 crore, up 8.9% from Rs 4,927 crore posted in the last quarter. EBIT margin increased to 22.7% against 21.2%. 
 
L&T Infotech: The global IT solutions and services company, L&T Infotech on Wednesday reported a 2.4% quarter-on-quarter decline in consolidated profit at Rs 416.6 crore for the quarter ended on June 30, 2020. It posted a profit of Rs 426.7 crore in the previous quarter that ended on March 31, 2020. Consolidated revenue declined 2.1% to Rs 2,949.2 crore over Rs 3,011.9 crore posted in the previous quarter. $ Revenue fell by 4.8% to $ 39.03 crore against $ 41 crore posted in March quarter. EBIT stood at Rs 514 crore, up 2.1% from Rs 503.3 crore. The EBIT Margin grew to 17.4% against 16.7%.
 
Minda Corporation Ltd: Auto components maker Minda Corporation Corp on Wednesday reported a consolidated loss of Rs 300 crore for the quarter ended on March 31, 2020. It posted a net profit of Rs 42 crore in the corresponding quarter last year. Consolidated revenue fell 9% to Rs 697.9 crore against Rs 771 crore posted last year in the same quarter. EBITDA stood at Rs 38.5 crore, down 53% from Rs 82.15 crore posted last year. The margin contracted to 5.5% in Q4FY20 from margin of 10.6% posted in Q4FY19. 

Uttam Galva Steels: The manufacturers cold rolled steel and galvanized steel, Uttam Galva Steel on Wednesday reported a consolidated net loss of Rs 159 crore in the quarter ended on June 30, 2020. The company has posted a net loss of Rs 269 crore on a consolidated basis during the same quarter last year. Its consolidated revenue declined to Rs 88.3 crore in Q1FY21 from Rs 112.2 crore posted in Q1FY20. 

Andrew Yule: Andrew Yule on Wednesday reported a consolidated loss of Rs 30.3 crore for the quarter ended on March 31, 2020. It reported a net loss of Rs 4.67 crore in the corresponding quarter last year. Its revenue declined to Rs 41.8 crore in Q4FY20 from Rs 66.5 crore posted in Q4FY19.

Rossari Biotec IPO Update: The Rs 496 crore initial public offering (IPO) of the speciality chemicals maker Rossari Biotech was subscribed 79.37 times on the final day of the offer on Wednesday. The portion set aside for qualified institutional buyers (QIB) has seen subscription of 85.26 times, while the reserved portion of retail investors was subscribed 7.23 times and non-institutional investors 240 times. The price band for the issue was fixed at Rs 423-425 per share. The company will be listed on July 23, 2020.

Yes Bank FPO Update:  The Rs 15,000 crore follow-on public offer (FPO) of Yes Bank Ltd was subscribed 24% on Wednesday, the first day of the offering. The portion set aside for qualified institutional buyers has seen subscription of 66% cent, while the reserved portion of retail investors was subscribed 9% and non-institutional investors 4%.

Cochin Shipyard Ltd (CSL): The state-owned Cochin Shipyard won a contract from Norway’s ASKO Maritime AS for constructing two autonomous electric ferries with an option to build two more identical vessels. Value of the order was not disclosed by the company.