Stocks in Focus on July 7: NBCC, Shriram Transport Finance to Bajaj Auto; here are the 5 Newsmakers of the Day
NBCC, Suzlon, DCW, IFB Industries and Bajaj Finance stocks are expected to remain newsmakers throughout the intraday trade session today
Tracking positive global cues, the domestic share markets advanced for the fourth straight session on Monday, July 6, 2020. The barometer S&P BSE Sensex rallied 465.86 points or 1.29% at 36,487.28. The Nifty 50 index surged 156.30 points or 1.47% at 10,763.65. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, July 7, 2020. List of such five stocks:
NBCC/ Suzlon/ DCW/ IFB Industries: These are the companies that reported their financial results of the fourth quarter of the financial year 2019-20 (FY20) after the market hours on Monday, July 6, 2020. Find details:
NBCC: State-run construction major NBCC (India) Ltd on Monday reported a year-on-year (YoY) 42% fall in its consolidated net profit for the January-March quarter at Rs 78.98 crore. It reported a consolidated profit of Rs 137 crore in the corresponding quarter last year. Consolidated revenue from operations fell 17% to Rs 2,600 crore from Rs 3,127 crore posted a year-ago quarter. EBITDA stood at Rs 52 crore, down 68% from Rs 163 crore posted in Q4FY19. Margin contracted to 2% when compared to 5.2% a year ago.
Suzlon Energy: The wind turbine supplier, Suzlon on Monday reported a year-on-year loss of Rs 823 crore for the quarter that ended on March 31, 2020. It reported a loss of Rs 293 crore a year ago in the same quarter. Its revenue from operations declined 54% to Rs 659 crore compared to Rs 1,450 crore posted a year ago.
DCW Ltd: The chemical company that manufactures caustic soda, soda ash and PVC resin on Monday announced the financial results of the quarter that ended on March 31, 2020, and reported a loss of Rs 25 crore. It posted a net profit of Rs 14.91 crore in the corresponding quarter a year ago. Revenue from operations fell to Rs 293 crore from Rs 358 crore posted a year-ago quarter.
IFB industries: Home appliances company, IFB Industries on Monday announced its financial results on quarter ended on March 31, 2020, and reported a net loss of Rs 19.5 crore. It posted a net profit of Rs 5.53 crore in the same quarter last year. Revenue from operations declined 22% to Rs 507 crore from Rs 653 crore posted in Q4FY19. EBITDA stood at Rs 0.8 crore in Q4FY20 from EBITDA of Rs 16.5 crore posted in Q4FY19. EBITDA margin as of Q4FY20 was at 0.15% that declined by 2.5% YoY against the same quarter, the previous year.
Q1FY21 Business Updates: The section includes the name of the companies that announced the business update of Q1FY21 on Monday, July 6, 2020, after the market hours. Find it in details:
Bandhan Bank: The private lender on Monday said its deposits grew on a year-on-year basis by 35% at end of June, i.e. June 30, 2020, to Rs 60,602 crore. Its advances grew 18% to Rs 74,325 crore in the same period. It said that the collection efficiency has improved 70% and moratorium book stands at 30%.
Bajaj Finance: Lockdown had an impact on the business in Q1FY21. The company’s advances declined by 77% year-on-year Rs 17 lakh. On a quarter-on-quarter basis, it declined by 72%. Its deposits grew 32% on a year-on-year basis to Rs 20,000 crore. On a quarter-on-quarter basis, deposits increased by 6.5%. The number of customers increased by 16% on a year-on-year basis and reached 4.3 crores. The number of customers increased on a quarter-on-quarter basis by 0.9%. Assets under management (AUM) increased by 7.1% year-on-year to Rs 1.36 lakh crore. AUM declined 6.5% on quarter-on-quarter basis. Moratorium book on quarter-on-quarter declined from 27% to 15.5%.
The company added 5 lakh, new customers, in the quarter. Its consolidated liquidity surplus was approximately Rs 17,600 crore as of June 30, 2020.
Godrej Consumer Products Ltd: Godrej Consumer Ltd has provided an update overall summary of the operating performance and demand trends witnessed during the quarter ended June 30, 2020. It said, Q1FY21 was an unprecedented period due to the spread of COVID across the globe and it expects a decline in total sales as compared to last year. The company expects mid-single-digit growth in domestic sales. It expects its performance in Latin America to be steady in constant currency terms. In the US and the Middle East, the company expects sales to decline by 20%. However, it said, the resurgence of the Household Insecticide category continued with strong underlying consumer demand. There was strong momentum in the Hygiene category, however, saw muted demand in Hair Colour and Air Freshener.
Rights pricing: Shriram Transport Finance + PVR
Shriram Transport Finance: The board has approved the rights issue of equity shares for an amount not exceeding Rs 1,500 crore. Sets rights issue price at Rs 570 per share. The rights entitlement ratio is of three rights equity shares for every 26 equity shares held by eligible shareholders. July 10 has been fixed as the record date to determine the eligible shareholders entitled to receive the rights entitlement in the rights issue of equity shares.
PVR: Sets the rights issue price at Rs 784 per share. Rights entitlement ratio set at 7 shares for every 94 held as on the record date of July 10. The rights issue will be open from July 17 to July 31. The board had approved raising Rs 300 crore from the rights issue on June 8.
Bajaj Auto: The authorities have imposed a lockdown from July 10 to July 18 in Aurangabad. Bajaj Auto will temporarily shut down its facility in the city and cut up to 50% in wages of its employees at Waluj plant.
Triggers: AGM + Board meets + Results
Annual General Meeting (AGM) Date: Britannia, Tata Chemicals and Sanofi India.
Adani Ports board meet: The company board is set to consider a fundraising plan in a meeting scheduled for today. The board will today consider raising funds by way of issuance of US $ denominated foreign currency bonds (“Bonds”) which may be issued in one or more tranches, in India or overseas.
See Zee Business Live TV Streaming Below:
Announcing results today: Cash: Shree Renuka Sugars
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