Stocks in Focus on July 27: ICICI Bank, ITC, MCX, JSW Steel, Escorts to Aviation Stock; here are the 5 Newsmakers of the Day

The domestic stocks markets ended near the flat line on Friday, July 24, 2020. The barometer index, the S&P BSE Sensex dropped 11.57 points or 0.03% at 38,128.90. The Nifty 50 index lost 21.30 points or 0.19% at 11,194.15. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, July 27, 2020. List of such five stocks:

Triggers: There are certain events, like results today, RBI Governor, Prime Minister, YES Bank FPO Shares Listing, Mindspace REIT IPO, MCX, E-commerce, Ex-dividend, which can create positive/negative reactions in the markets. Find them in detail:

Results to be declared today: Tech Mahindra, Bharti Infratel, Kotak Mahindra Bank, Havells India, BEL, United Spirits, Marico, Escorts, Ajmera Realty (Q4FY20 + Q1FY21), Fineotex Chemical, Srikalahasthi Pipes, Pfizer, Aptech, MM Forgings, India Cements, HSIL, Orient Electric, Plastiblends India, V-Guard, Nippon Life India AMC, SMS Lifesciences, Royal Orchid (Q4FY20), Maharashtra Seamless (Q4FY20).
RBI Governor: RBI Governor Shaktikanta Das will interact with CII members on 27th July at 11 am.

PM Modi: Prime Minister Narendra Modi will launch high throughput COVID-19 testing facilities on 27th July via video conferencing.

Yes Bank: Shares allotted in the follow-on public offer of Yes Bank will list on the bourses today, i.e. July 27, 2020. The private sector lender issued 1250 shares in the FPO at the price band of Rs 12 per share and has raised Rs 15,000 crore.

Mindspace Business Parks REIT: The Rs 4,500-crore initial public offering (IPO) of Mindspace Business Parks REIT will open for subscription on July 27, with a price band of Rs 274-275 per unit. Out of the total issue, Mindspace REIT has raised Rs 1,518.75 crore from 54 anchor investors ahead of its issue opening at Rs 275 per share. Key anchor investors in this allotment were Government of Singapore, Nomura, Fidelity Group and key domestic investors included HDFC Life Insurance and SBI Life Insurance.

MCX: MCX begins trading at negative prices
E-Commerce: The Union Government will implement new rules for e-commerce companies from today. Ex-Dividend: Bayer Crop Science will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date. The dividend is priced at Rs 25. 

Results: These companies, namely ICICI Bank, ITC, JSW Steel, Ambuja Cement, Chennai Petro, Coromandel, Aarti Drugs, MCX, have reported their financial results after the market hours on Friday. Find in details:

ICICI Bank: The private sector lenders profit after tax (PAT) rose 36% year-on-year to Rs 2,599 crore for the quarter ended on June 30, 2020, from Rs 1,908 crore posted a year ago. Its net interest income (NII), or the core income, rose 20% to Rs 9,280 crore from Rs 7,737 crore posted in the corresponding quarter last year. The bank’s asset quality improved with gross non-performing assets (NPAs) in percentage terms fell to 5.46% from 5.5% in the previous quarter. The net NPA fell to 1.23% from 1.41% in the previous quarter. The bank’s provisions increased by 117% to Rs 7,594 crore in Q1FY21 from Rs 3,496 crore provisioned last year in the same quarter. The moratorium for the book stands at 17.5% from 30% in Q4 FY20. Management says will dilute 4% stake in ICICI Securities this year.

ITC: ITC has reported a 26% year-on-year decline in its standalone profit after taxes (PAT) at Rs 2,342 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 3,174 crore in the corresponding quarter last year. Standalone revenue from operations declined 17% to Rs 9,501 crore from Rs 11,502 crore posted last year. EBITDA stood at Rs 2,646 crore, down 42% from last year’s Rs 4,565 crore. The margin stood at 27% in Q1FY21 from 39.6% in Q1FY20. ITC took a major hit for the June quarter with a sharp plunge in sales of cigarette, where revenue declined year-on-year basis to Rs 3,953 crore from Rs 5,433 crore. However, FMCG revenue rose from Rs 3,060 crore to Rs 3,374 crore.

JSW Steel: India’s second-largest private steel producer, JSW Steel on Friday reported a year-on-year net loss of Rs 561 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 1,028 crores in the same quarter last year. Revenue from operations declined 40% to Rs 11,782 crore from Rs 19,812 crores posted last year. EBITDA stood at Rs 1,341 crore, down 63% from Rs 3,716 crore posted last year. The margin contracted to 11.3% in Q1FY21 from 18.8% posted in Q1FY20. The board has approved the proposal of raising funds up to Rs 10,000 crore through Non-convertible debentures (NCDs).

Ambuja Cements: Ambuja Cement on Friday reported a 10% rise in net profit at Rs 453 crore for the quarter ended on June 30, 2020, i.e. Q2CY20. It posted a net profit of Rs 412 crore in the same quarter a year ago. The company follows a January-December financial year. The cement maker’s revenue from operations fell 27% to Rs 2,176 crore in the quarter from Rs 2,983 crore posted last year in the same quarter. EBITDA stood at Rs 594 crore, down 15% from Rs 699 crore. The margin advanced to 27% from 23% posted last year. The company said its volumes were impacted during the second quarter of 2020 as a result of Covid-19 lockdown, and its cement sales volume declined by 29%.

Chennai Petroleum: Chennai Petroleum Corporation on Friday reported a year-on-year consolidated profit of Rs 270 crore for the quarter ending on June 30, 2020. It posted a loss of Rs 229 crore in the corresponding quarter last year. The revenue from operations dell to Rs 5,949 crore from Rs 12,723 crore posted last year. EBITDA profit stood at Rs 620 crore from the EBITDA loss of Rs 121 crore posted last year.

Coromandel International: The Murugappa group company, Coromandel International, which is into crop protection and nutrient solutions, has reported a 304% year-on-year rise in the consolidated profit at Rs 251 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 62 crore in the corresponding quarter of the last financial year. Consolidated revenue from operations grew 50% to Rs 3,213 crore from Rs 2,130 crore posted last year. EBITDA stood at Rs 412 crore, up 111% from last year’s Rs 195 crore. The margin advanced to 12.8% from 9%.

Aarti Drugs: The company functional in the pharmaceutical sector has reported a 281% year-on-year rise in consolidated profit to Rs 85.45 crore in the quarter ended on June 30, 2020. It posted a net profit of Rs 22.45 crore in the same quarter in the last financial year. Revenue from operations grew by 34% to Rs 545 crore from Rs 405 crore posted last year. EBITDA stood at Rs 134 crore, up 145% from Rs 55 crore posted last year. The margin advanced to 24.6% in Q1FY21 from 13.5% posted in Q1FY20.

MCX: The Multi Commodity Exchange of India has posted a 29% year-on-year growth in its consolidated profit of Rs 56.4 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 44 crore in the corresponding quarter a year ago. Revenue from operations declined 14% to Rs 73 crore compared to Rs 85 crore posted last year in the same quarter. Other income grew by 92% to Rs 50 crore from Rs 26 crore. EBITDA stood at Rs 27 crore, down 62% from Rs 69 crore posted last year. The margin contracted to 26.5% from 33% posted last year. 

Adani Power: Adani Power on Friday said it has received shareholders' approval for its Rs 3,264 crore delisting proposal. The company has worked out the floor price of Rs 33.82 per share to buy 96.53 crore equity shares with the public for about Rs 3,264 crore. The promoter holds 74.97% stake in the company. 95.88% of shareholders have voted in favour of delisting of the company. Last month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited. 

Aviation stocks: Aviation Stocks will be in focus today as the government has extended domestic flight restrictions until November 24. The regulator also extended the fare cap until November 24, 2020. Ministry of Civil Aviation has asked the operators to must operate with 45% capacity.

Insider Trades:

Infosys: Co-founder SD Shibulal announced that from July 22-24 his family members have sold a portion of their holding (representing approximately 0.20% of the paid-up equity share capital) in the company on the stock exchanges. Proceeds from the partial stake monetization will be utilized for a combination of philanthropic and investment activities. The Shibulal family cumulatively held 1.88% stake in the company. 

HDFC Bank: Aditya Puri Sells 74.20 lakh shares worth Rs 843 Crore of HDFC Bank. 

JSW Steel: Promoter group companies redeemed a total of 13.75 lakh pledged shares.

Escorts: Rakesh Jhunjhunwala reduced stake from to 6.82% from 6.97%. Jhunjhunwala sold 2 lakh shares on July 24.

Karur Vyasa Bank: Rakesh Jhunjhunwala increased stake to 4.5% from 4.2% as per its shareholding pattern for June quarter.

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Kaveri seeds: Pabrai Investment Funds reduced stake to 7.24% from 9.48% in the company on July 21.