Stocks in Focus on July 17: L&T Technology, Yes Bank to ICICI Prudential; here are expected newsmakers of the day

Stocks in Focus on July 17: The domestic stock markets closed 1% up on Thursday, July 16, 2020. Trading was volatile due to expiry of weekly index options. The barometer S&P BSE Sensex surged 419.87 points or 1.16% at 36,471.68. The Nifty 50 index jumped 121.75 points or 1.15% at 10,739.95. But certain stocks came in news after the market was closed. These stocks can have an impact on the indices when it reopens on Friday, July 17, 2020. List of such five stocks:

Triggers: There are certain events, like results today, PVR, Tata Sons, AGM, ex-dividend, which can create positive/negative reactions in the markets. Find them in detail:

Results today: HCL Tech (Q1FY21), Britannia (Q1FY21), ICICI Lombard (Q1FY21), Granules India (Q1FY21), Jayshree Tea (Q4FY20), GNA Axles (Q1FY21), Grauer & Weil (Q4FY20) will announce their financial results of the respective quarter’s today.

See Zee Business Live TV streaming below:

PVR: The rights shares of PVR will list today. 

Tata Sons: The board of Tata Sons will meet today to discuss the impact of Coronavirus on its balance sheet and consider the proposal for capital raising.

AGM: Annual General Meeting of Karnataka Bank Ltd, L&T Technology Services Ltd, Nippon Life India Asset Management Ltd and RBL Bank Ltd is scheduled to be held today.
 
Ex-Dividends: GSK Pharma and Indian Hotels will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date.

Results: These companies, namely L&T Finance Holdings, L&T Technology Services, Cyient and Bharat wire ropes, have reported their financial results after the market hours on Thursday. Find in details:

L&T Finance Holdings: The non-banking financial company (NBFC) L&T Finance Holdings (LTFH) on Thursday reported a 73% decline in its net profit for the quarter ended June 2020. It posted a net profit of Rs 549 crore in the corresponding quarter last year. Net interest income (NII) declined 9.8% to Rs 1,235 crore from Rs 1,369 crore. The Gross NPA declined to 5.24% in Q1FY21 from 5.36% in Q4FY20. The Net NPA was down to 1.71% in Q1FY21 from 2.28% in Q4FY20.

L&T Technology Services (LTTS): The engineering services arm of Larsen and Toubro Group on Thursday reported 42.8% quarter-on-quarter decline in the consolidated profit after tax at Rs 117.2 crore for the quarter ended on June 30, 2020. It posted a consolidated profit of Rs 204.8 crore in the quarter ended on March 31, 2020. Consolidated revenue from operations declined by 10.5% in Q1FY21 at Rs 1,294.7 crore against the revenue of Rs 1,446.6 crore posted in Q4FY20. $ Revenue declined 12.5% to $ 17.1 crore in the quarter under review from $19.54 crore posted in the previous quarter. EBIT stood at Rs 156.7 crore, down 28.7% from Rs 219.8 crore. The EBIT margin declined by 3.1% to 12.1% in Q1FY21 from the EBIT margin of 15.2% posted in Q4FY20. 
 
Cyient: The IT firm Cyient on Thursday reported an 80.1% rise in consolidated profit after tax to Rs 81.4 crore in the quarter ended on June 30, 2020. It posted a net profit of Rs 45.2 crore in the quarter ended on March 31, 2020. Consolidated revenue from operations declined 7.6% to Rs 991.7 crore in Q1FY21 from Rs 1,073.6 crore posted in Q4FY20. The $ Revenue declined 12.5% to $13.06 crore from $14.93 crores. The EBIT stood at Rs 50.2 crore, up 10.6% from Rs 45.4 crore posted in last quarter. The EBIT Margin was up to 5.1% in Q1FY21 from 4.2% in Q4FY20.
 
Bharat Wires Ropes: The manufacturer of steel wire ropes, Bharat Wires Ropes on Wednesday reported a consolidated loss of Rs 12.1 crore for the quarter ended on June 30, 2020. It posted a net loss of Rs 13.4 crore in the corresponding quarter of the previous financial year. The consolidated revenue from operations grew by 19.7% to Rs 74.6 crore in Q1FY21 from Rs 62.3 crore posted in Q1FY20. EBITDA grew to Rs 12.5 crore in Q1FY21 from an EBITDA loss of Rs 3 crore. The EBITDA margin went up to 16.8% in the quarter under review from negative 4.8% posted last year in the same quarter.

Yes Bank FPO Update: The Rs 15,000 crore follow-on public offer (FPO) of Yes Bank Ltd was subscribed 47.94% on Thursday, the second day of the offering. The QIB portion of the issue has been fully subscribed. The reserved portion for retail investors was subscribed 19.3% while the portion set for non-institutional investors was subscribed 10.8%. The FPO is scheduled to be closed on July 17, 2020.

ITC/Godfrey Phillips: Delhi government has extended the ban on the manufacture, storage, sale or distribution of gutka, pan masala, flavoured tobacco and any other kind of tobacco products for one year in the national capital. 

ICICI Prudential: Foreign portfolio investors (FPIs) have increased their stake in the company in the June quarter from 13.34%to 15.06%. Government of Singapore has bought 1.39% stakes in the company.