Stocks in Focus on June 22: Power Grid, Cipla/Glenmark to Tea Stocks; here are the 5 Newsmakers of the Day

The market ended with strong gains on Friday, June 19, 2020, supported by positive global shares. The barometer S&P BSE Sensex rose 523.68 points or 1.53% at 34,731.73. The Nifty 50 index added 152.75 points or 1.51% at 10,244.40. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, June 22, 2020. List of such five stocks:

Power Grid/ PNB/ LIC Housing/ Nelcast/ DFM Foods/ PTC India/ Camlin Fine/ Cochin Shipyard/ Balkrishna Industries: 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 Friday, June 19, 2020, and till Sunday, June 21, 2020. Find details:

Power Grid: The Maharatna company announced its March quarter results on June 20, 2020, and reported a 4.2% year-on-year jump in the standalone profit at Rs 3,182.7 crore. It posted a profit of Rs 3,054 crore a year ago in the same quarter. Its revenue from operations rose 5.3% to Rs 9,704.5 crore against Rs 9,218 crore posted last year. EBITDA stood at Rs 7,100 crore, up 11.2% from Rs 6,387.7 crore and margins grew to 73.2% from 70%. Its transmission revenue grew by 7%.

Punjab National Bank (PNB): Public lender PNB posted its financial results for Q4FY20 and reported a standalone year-on-year net loss of Rs 697 crore. It reported a loss of Rs 4,749 crore for the corresponding quarter a year ago. The bank’s net interest income (NII) grew 11% to Rs 4,677 crore against Rs 4,200 crore posted last year in the same quarter. In terms of provisions, India’s second-largest bank put Rs 4,901 crore towards bad loans, nearly 51% down from Rs 10,071 crore posted in Q4FY19. However, provisions grew 18% on the quarter-on-quarter basis which stood at Rs 4,146 crore in Q3FY20. Gross NPA declined to 14.21% on quarter-on-quarter basis against 16.3%. The net NPA declined to 5.78% on a quarter-on-quarter basis from 7.18% in the December quarter. 30% of borrowers had availed the loan moratorium. 

LIC Housing Finance: LIC Housing on Friday announced Q4FY20 results and reported a 39% decline in year-on-year profit at Rs 421 crore. It reported a profit of Rs 693.58 crore in Q4FY19. Revenue from operations grew 6% to Rs 4,920 crore when compared with the revenue of Rs 4,657.92 crore in Q4FY19. 

Nelcast: Nelcast has reported a 270% year-on-year jump in consolidate profit at Rs 23 crore in Q4FY20. Its profit stood at Rs 6.2 crore in Q4FY19. Its revenue from operations declined 28% to Rs 125 crore in the quarter from Rs 174 crore posted a year ago in the same quarter. EBITDA stood at Rs 12.9 crore, down 12% from Rs 14.8 crore. The margin grew to 10% against 8.5% posted last year.  

DFM Foods: The company has reported a standalone loss of Rs 1.2 crore in the quarter ended on March 31, 2020. It earned a profit of Rs 1 crore in the same quarter last year. Its revenue from operations declined 17% in Q4FY20 to Rs 109.8 crore from Rs 131.7 crore posted in Q4FY19. Its EBITDA stood at Rs 2.1 crore, down 88.3% from Rs 18.3 crore. The margin contracted to 2% against the margin of 13.9% posted last year. 

PTC India: The company on Friday announced the financial results of the quarter that ended on March 31, 2020, and reported a 35% year-on-year decline in profit to Rs 48 crore. It posted a net profit of Rs 74 crore a year ago in the same quarter. However, its revenue from operations grew by 20% to Rs 3,635.5 crore from Rs 3,033.5 crore posted last year. EBITDA stood at Rs 378 crore, down 15% from Rs 445.5 crore posted in Q4FY19. Margin contracted t0 10.4% Vs margin of 14.6% posted last year. 

Camlin Fine Science: The company has announced the financial results for the period ended March 31, 2020, and reported a 67% year-on-year decline in consolidated profit to Rs 2 crore. It posted a net profit of Rs 6.2 crore in the corresponding quarter last fiscal. Its revenue from operations grew 9% to Rs 292.8 crore against the revenue of Rs 268 crore of Q4FY19. EBITDA stood at Rs 34 crore, up 100% from Rs 17 crore and the margin grew to 11.6% against the margin on 6.3% the company posted last year. 

Cochin shipyard: Public sector Cochin Shipyard Ltd has announced its financial results for the period ended March 31, 2020, and reported a 44% year-on-year rise in consolidated profit at Rs 137.5 crore. The company posted a net profit of Rs 95.4 crore a year ago in the same quarter. Revenue from operations was up 3.5% to Rs 816.7 crore against Rs 788.4 crore. EBITDA stood at Rs 162.4 crore, up 3.5% from Rs 788.4 crore of last year. The margin grew to 19.9% against 13.9%. 

Balkrishna Industries: Balkrishna Industries Ltd. announced its March quarter results on June 20, 2020, and reported a 39% year-on-year rise in profit to Rs 257 crore. It posted a profit of Rs 185 crore in the corresponding quarter last year. Revenue from operations remained almost flat at Rs 1,357 crore when compared to Rs 1,351 crore posted last year. EBITDA stood at Rs 373 crore, up 16% from Rs 320 crore. The margin grew to 27.4% from 23.7% of last year in the same quarter. 

Cipla/ Glenmark: Homegrown pharma major Cipla Ltd has launched anti-viral drug remdesivir, which has been authorised for emergency use in the treatment of COVID-19 patients by the USFDA, under its brand name CIPREMI. The USFDA had issued an Emergency Use Authorization (EUA) to Gilead Sciences Inc for emergency use of remdesivir for the treatment of COVID-19 patients. The drug will be supplied through Government and open market channels, to ensure equitable distribution. Besides, DCGI on Saturday granted domestic firm Glenmark Pharmaceuticals the permission to manufacture and market anti-viral drug favipiravir. The drug is used in the treatment of COVID-19. 

Century Textiles/Equitas Holdings/Ujjivan Financial: The National Stock Exchange (NSE) on Saturday decided to remove Century Textiles & Industries, Equitas Holdings and Ujjivan Financial Services from its Futures & Options segment after August expiry. Accordingly, no contracts will be available for trading in the above-mentioned securities with effect from August 28, 2020, the exchange said.

Adani Power: The board of the company is scheduled to meet today to consider and approve the proposal for voluntary delisting of the equity shares of the company.

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Tea stocks in focus: The Tea Board data suggests that the average tea prices in the country’s auction rose by 40-60%. The price rise was driven by strong buyer demand and a huge shortfall.