Stocks in Focus on June 19: GSFC, HDFC AMC to Tata Motors; here are the 5 Newsmakers of the Day
GSFC, MOIL, Lumax Industries, Brigade Enterprises and Bajaj Consumer stocks are expected to remain newsmakers throughout the intraday trade session today
Domestic shares ended with robust gains on Thursday, June 18, 2020, led by a rally in banks and metal shares. The barometer S&P BSE Sensex jumped 700.13 points or 2.09% at 34,208.05. The Nifty 50 index rallied 210.50 points or 2.13% at 10,091.65. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, June 19, 2020. List of such five stocks:
GSFC/ MOIL/ Lumax Industries/ Brigade Enterprises/ Bajaj Consumer/ Thermax/ City Union Bank/ Whirlpool: They are the companies that reported their financial results of the fourth quarter of the financial year 2019-20 (FY20) after the market hours on Thursday, June 18, 2020. Find details:
Gujarat State Fertilizers and Chemicals (GNFC): The manufacturer of %. fertilizers and Industrial Chemicals on Thursday announced the financial results of the quarter that ended on March 31, 2020, i.e. Q4FY20. It reported a 36.9% year-on-year decline in consolidated profit at Rs 61.8 crore. It posted a net profit of Rs 98 crore in the corresponding quarter of last fiscal year. The company’s revenue from operations declined 6.2% to Rs 1,862 crore from Rs 1,986 crore posted last year. EBITDA stood at Rs 145.7 crore, down 9.8% from Rs 162 crore and margin contracted to 7.8% from 8.1
MOIL: The mini Ratna state-owned manganese ore mining company, MOIL, on Thursday reported a 90.3% year-on-year dip in consolidated profit at Rs 13.5 crore for the quarter that ended o March 31, 2020. The mining company has clocked a net profit of Rs 139.5 crore in the corresponding quarter a year ago. Its revenue from operations declined 43.1% to Rs 248.6 crore from Rs 436.6 crore posted last year. EBITDA stood at Rs 6.4 crore, down 96.1% from Rs 163 crore posted last year. Margin contracted to 2.6% from 37.2%. The board of the company has recommended a final dividend of Rs 3 per equity share.
Lumax Industries: The company on Thursday reported a 14.7% year-on-year rise in consolidated profit at Rs 16.4% in March quarter FY20. It posted a net profit of Rs 14.3 crore in the corresponding quarter last year. Its revenue from operations declined 10.5% to Rs 387.3 crore against Rs 432.7 crore posted last year. EBITDA stood at Rs 33.6 crore, up 9.1% from Rs 31 crore and the margin grew to 8.7% from the previous year’s margin of 7.1%.
Brigade Enterprises: The real estate developer on Thursday reported a 95.5% year-on-year decline in consolidated profit at Rs 2.7 crore for the fourth quarter that ended on March 31, 2020. It posted a net profit of Rs 59.7 crore in the corresponding quarter last fiscal year. Revenue from operations declined 16.3% to Rs 636 crore against Rs 760 crore posted last year. EBITDA stood at Rs 135.2 crore, down 37.2% from Rs 215 crore and the margin contracted to 21.3% from 28.3%.
Bajaj Consumer Care: Bajaj Consumer on Thursday reported a 61% year-on-year decline in consolidated profit at Rs 23.3 crore in the fourth quarter of the financial year 2019-20. It posted a net profit of Rs 59.8 crore in the corresponding quarter last fiscal. Revenue from operations declined 27.7% to Rs 178.8 crore against Rs 247.4 crore posted last year. EBITDA stood at Rs 22.6 crore, down 70/6% from Rs 77 crore and margin contracted to 12.6% from 31%. The board has recommended an interim dividend of Rs 2 per equity share.
Thermax Ltd: Energy solutions provider Thermax on Thursday reported a 69.3% year-on-year decline in consolidated profit after tax (PAT) at Rs 39 crore for the quarter ended March 31, 2020, mainly on account of lower-income. The company had posted a PAT of Rs 127 crore during the same period a year ago. Revenue from operations fell 36.2% to Rs 1,323 crore during the quarter under review from Rs 2,073 crore posted in the fourth quarter of 2018-19 fiscal. EBITDA stood at Rs 63.6 crore, down 62.6% from Rs 170 crore and margin contracted to 4.8% from 8.2%.
City Union Bank: The private sector lender City Union Bank on Thursday reported a loss of Rs 95.3 crore for the quarter ended on March 31, 2020, due to a spike in the bad loan provisioning. It posted a net profit of Rs 175.1 crore in the same quarter in previous fiscal. Net Interest Income (NII) dropped 0.3% to Rs 419.5 crore from Rs 420.6 crore posted a year ago in the same period. The bank's provisioning for bad loans and contingencies had to be raised multi-fold (396.6%) to Rs 450.4 crore in the March 2020 quarter, against Rs 91 crore in the year-ago period. Its provisions stood at Rs 81 crore in the December quarter of the same fiscal. Gross NPA rose to 4.09% quarter-on-quarter basis from 3.5%. Net NPA rose to 2.29% from 1.95%.
Whirlpool: The home appliances firm Whirlpool on Thursday reported a 12.3% year-on-year dip in the consolidated profit to Rs 92.3 crore for the quarter ended on March 31, 2020. It posted a net profit of Rs 105.2 crore in the same period last year. Revenue from operations fell 0.1% to Rs 1,353.6 crore from Rs 1,355.2 crore posted last year. EBITDA stood at Rs 137 crore, down 20.1% from Rs 171 crore and margin contracted to 10.1% from 12.6% posted last year.
HDFC Asset Management Company (AMC): The reserved retail portion of an offer for sale issue of HDFC AMC closed for subscription on June 18, the last day of bidding. The retail category was subscribed 82.27%, while the non-retail lot was oversubscribed nearly 2.7%.
Reliance Industries: Saudi Arabia-based Public Investment Fund (PIF) buys a 2.32% stake in Jio Platforms for Rs 11,367 crore. Jio Platforms has raised Rs 1,15,693.95 crore from global investors in the last 9 weeks. Besides, Reliance Industries is close to finalising a deal with Kishore Biyani's Future Group for buying a stake in some group companies of the latter. An announcement in this regard is expected to come on July 2020, Bloomberg reported while quoting sources in the know.
Tata Motors Limited (TML): Rating agency Moody's Investor Services has downgraded Tata Motors corporate family rating (CFR) and senior unsecured instruments rating to B1 from Ba3. The outlook on all ratings on TML has been changed to negative from ratings under review. The rating was under review since March 26, 2020, and concluded with a downgrade on Thursday.
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Healthcare Global Enterprises: CVC Capital will bring an open offer to buy 26% stakes in India’s Healthcare Global Enterprises for Rs 130/share.
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