Stocks in Focus on July 23: Rossari Biotech IPO, HDFC AMC, Vodafone Idea to PSU Banks; here are expected newsmakers of the intraday trade

Stocks in Focus on July 23: Domestic equity markets closed with minor losses after a volatile session on Wednesday, July 22, 2020. The barometer S&P BSE Sensex lost 58.81 points or 0.16% at 37,871.52. The Nifty 50 index shed 29.65 points or 0.27% at 11,132.60. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, July 23, 2020. List of such five stocks:

Triggers: There are certain events, like weekly Expiry, Results today, Rossari Listing, Spencer's Retail, Gateway rights, HDFC AMC AGM, Japan markets shut, which can create positive/negative reactions in the markets. Find them in detail:

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

See Zee Business Live TV streaming below:

Results today: Biocon, Zensar Tech, SKF India, HDFC AMC, Mphasis, Mahindra EPC, Pioneer Distilleries, Tube Investment, Foseco, GM Breweries, AU Small Finance Bank, ABB India, Sterlite Technologies, PNB Housing, Radico Khaitan, Agro Tech Foods, Speciality Restaurants (Q4FY20), Dish TV (Q4FY20), Repco Home Fin (Q4FY20) and Bank of Maharashtra will announce their financial results of the respective quarter’s today.

Spencer's Retail: Board of Directors of Spencer’s Retail is scheduled to meet today to consider, discuss and decide, various matters in connection with the Rights Issue, including the terms and conditions such as the issue price, rights entitlement ratio, record date, the timing of the Rights Issue and other related matters.
Rights Issue Ex-Date of Gateway Distriparks: An integrated intermodal logistics service provider in India has approved the proposal to raise funds through issue of equity shares on a rights basis aggregating to approx. Rs. 116 crores. Rights Issue price has been decided at Rs 72 per Rights Equity Share. Rights entitlement ratio: 4 Rights Equity Shares for every 27 Equity Shares held by eligible equity shareholders of the Company as on the record date fixed on Friday, July 24. 

HDFC AMC: HDFC AMC’s AGM is scheduled to be held today. 
  
Rossari Biotech IPO: The equity shares of Rossari Biotech Limited shall be listed and admitted to dealings on the Bombay Stock Exchange in the list of 'B' Group of Securities.

Japan markets Shut: Japan’s stocks market will remain closed on July 23 and July 24.

Results: These companies, namely L&T, Rallis India, Astec Lifesciences, ICICI Securities, Everest Industries, Heidelberg Cements, Bajaj holdings, have reported their financial results after the market hours on Wednesday. Find in details:

Larsen & Toubro (L&T): The infrastructure major Larsen & Turbo on Wednesday reported a 79% year-on-year (YoY) decline in its consolidated net profit at Rs 303 crore for the quarter ended on June 30, 2020 (Q1FY21). It reported a net profit of Rs 1,472 crore in the corresponding quarter of last financial year. Consolidated revenue from operations dropped 28% to Rs 21,260 crore in Q1FY21 from Rs 29,636 crores posted in Q1FY20. EBITDA stood at Rs 1620.5 crore, down 47% from Rs 3,068 crores posted last year. The margins contracted to 7.6% in Q1FY21 compared to 10.3% posted in Q1FY20.
 
Rallis India: Rallis India, a subsidiary of Tata Chemicals, on July 22, 2020, reported a 52.4% year-on-year rise in its consolidated net profit at Rs 91.8 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 60.2 crores in the corresponding quarter last year. Consolidated sales rose 6.3% to Rs 662.7 crore compared to Rs 623.2 crores posted last year. EBITDA stood at Rs 128.2 crore, up 35.3% compared to Rs 94.7 crore posted last year. The margins went up to 19.3% in Q1FY21 from 15.1% posted in Q1FY20. Astec Lifesciences: The producer of agrochemicals and pharmaceutical intermediates, Astec Lifesciences on Wednesday reported a year-on-year consolidated profit of Rs 16.1 crore in the quarter ended on June 30, 2020. It posted a loss of Rs 1.1 crore in the same quarter last year. Consolidated sales grew 45.5% to Rs 111.9 crore from Rs 76.9 crore posted a year-ago period. EBITDA stood at Rs 28.2 crore, up 354.8% from Rs 6.2 crore posted last year. The margins grew to 25.2% from 8.06% posted last year. 

ICICI Securities: One of India’s largest broking firms, ICICI Securities on July 22, 2020, reported a 70.7% year-on-year rise in consolidated profit at Rs 193 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 113 crore in the same quarter last year. Consolidated sales grew 41.2% to Rs 546 crore from Rs 386.5 crore posted last year. EBITDA stood at Rs 295.3 crore, up 52.2% from Rs 192.9 crore. The margins improved to 54% in Q1FY21 from 50.1% posted in Q1FY20.
 
Everest Industries: Everest Industries on Wednesday announced the financial results for the period ended June 30, 2020, and reported a 14.6% year-on-year decline in consolidated profit to Rs 20.9 crore. It posted a net profit of Rs 24.5 crore in the same quarter last year. Consolidated sales declined 26.6% to Rs 317 crore from Rs 432.1 crore posted last year. EBITDA stood at Rs 38.4 crore, down 4.4% from Rs 40.2 crore posted last year. The margin grew to 12.1% in Q1FY21 from 9.3% posted in Q1FY20.

Heidelberg Cement Ltd: Heidelberg Cement on July 22, 2020, reported a 38.1% year-on-year decline in the consolidated profit at Rs 48.6 crore for the quarter ended on June 30, 2020. It posted a consolidated profit of Rs 79 crore in the corresponding quarter of last year. Consolidated sales dropped 30.2% to Rs 406.2 crore from Rs 582.4 crore posted last year. EBITDA stood at Rs 106.8 crore, down 29.1% from Rs 150.8 crore. Margins grew to 26.2% in Q1FY21 from 25.8% in Q1FY20. 
 
Bajaj Holdings: Bajaj Holdings on Wednesday reported a 1.47% year-on-year rise in consolidated profit at Rs 679.1 crore for the quarter ended June 30, 2020. It posted a net consolidated profit of Rs 669.2 crores in the same quarter last year. Consolidated sales in Q1FY21 rose 14.9% to Rs 90.2 crore as compared to Rs 78.5 crore posted in Q1FY20. EBITDA stood at Rs 67.6 crore, up 50.21% from Rs 45 crore. The margin went up to 74.9% in Q1FY21 from 57.6% posted in Q1FY20. 

Vodafone Idea: The Supreme Court (SC) on Wednesday dismissed the petition filed by the finance ministry against the Bombay high court order that had directed the revenue department to refund Rs 833 crore to the cash-strapped telecom company. The refund was held by the income tax (I-T) department citing possible future demands. Earlier this month, the high court had ruled that such a power did not exist at the time of the assessment year 2014-15, to which the case pertained. The revenue department filed a special leave petition against the high court order in the apex court.

Glenmark Pharma: Announced the results of Phase-3 trial of Favipiravir and says the Phase-3 trial of Favipiravir demonstrates statistically significant faster time to clinical improvement with Favipiravir treatment in mild to moderate Covid-19 patients compared to control. It said that the medicine has a 40% faster clinical cure.

PSU Banks in Focus: The Indian Banks’ Association (IBA) has agreed to a 15% hike in the wage bill for state-run banks—a move that’s expected to benefit nearly 8.5 lakh staffers. During the discussions with bank employee unions, the association agreed to make this hike effective from November 2017. According to a memorandum of understanding between the Indian Banks’ Association and the United Forum of Bank Unions, “The annual wage increase in salary and allowances is agreed at 15% of the wage bill as of March 31, 2017, which works out to be Rs 7,898 crore on payslip components.”