Stocks in Focus on May 15: Biocon, Reliance Infra to Cummins India; here are the 5 Newsmakers of the Day

Tracking weak global cues, the domestic share markets slumped more than 2.50% on Thursday, May 14, 2020. Trading was volatile due expiry of weekly index options. The barometer S&P BSE Sensex tumbled 885.72 points or 2.77% at 31,122.89. The Nifty 50 index lost 240.80 points or 2.57% at 9,142.75. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, May 15, 2020. List of such five stocks:

Biocon/ Manappuram Finance/ Tata Consumer/ Equitas Small Finance Bank: These are major companies that released their March quarter numbers on Thursday after the market was closed for trading purposes.

Biocon: Biotechnology major Biocon on Thursday posted its financial reports of Q4FY20 and reported a 42.3% Year-on-Year (YoY) decline in profit after tax (PAT) at Rs 123.4 crore. It posted a profit of Rs 213.7 crore in the corresponding quarter of last financial year. Revenue from operations stood at Rs 1,581 crore, a gain of 3.4% when compared to Rs 1,528.8 crore posted in the same quarter last year. EBITDA declined 20.9% to Rs 318.6 crore from Rs 403 crore reported last year. Biologics Business was down 21% YoY due to operational challenges related to COVID-19 & less than expected contribution from partners. Besides, Indranil Sen, Vice President, Finance, was appointed as an Interim CFO of the company. 

Manappuram Finance: The non-banking financial company (NBFC) on Thursday reported a 43% increase in net profit at Rs 392.7 crore for the quarter ended March 2020. It posted a net profit of Rs 274.6 crore during the corresponding period of preceding fiscal. Net interest income (NII) stood at Rs 1024.5 crore, up 33% from Rs 768.7 crore reported last year. Kerala-based NBFC’s net NPA and gross NPA of the company Quarter-on-Quarter (QoQ) basis stood at 0.5% and 0.9% respectively, as of March 31, 2020.

Tata Consumer Products Ltd (TCPL): TCPL on Thursday reported a loss of Rs 50 crore on Year-on-Year (YoY) basis against a profit of Rs 94 crore reported last year in the same quarter. Revenue from operations stood at Rs 2.405 crore, up 35% from Rs 1,775 crore of last year. EBITDA grew 77% to Rs 309 crore from Rs 174 crore. The company was earlier known as Tata Global Beverages Ltd. 
Equitas Small Finance Bank: The company has reported a 43% decline in profit at Rs 137 crore from Rs 243 crore reported last year in the same quarter. Its Net interest income (NII) fell 45% to Rs 807.5 crore from Rs 1,495 crore. The net NPA and gross NPA of the company stood at 1.66% and 3% respectively, as on March 31, 2020. 

Pharma Cos in focus + Unichem Laboratories: Pharma companies will be in focus today as many pharma companies of India like Dr Reddy’s Laboratories, Natco Pharma and Strides Pharma Science have entered into talks with US-based Gilead Sciences for licensing remdesivir. They are likely to sign licensing agreements for remdesivir and more announcements are expected to come next week. 

Besides, Unichem Laboratories has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) on May 13, 2020, for its Active Pharmaceutical Ingredients (APIs) facility at Roha. The United States Food and Drug Administration (USFDA) conducted the inspection of our Roha facility between February 17 and February 21, 2020.

Reliance Infra / CESC / Tata Group/Adani Group: The Tata group, the Adani group, and CESC are planning to join the race to buy the 51 per cent stake held by Reliance Infrastructure in BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), reports. Anil Ambani’s Reliance Infrastructure has put BSES Rajdhani and Yamuna Discoms on the block and has hired KPMG to find buyers for its 51% stake each in BRPL and BYPL. BRPL, the largest power distribution company in New Delhi with over 2.56 million consumers and BYPL supplies electricity to around 1.7 million consumers across Central and East Delhi. 

Orient Electric: Company has resumed operations in Faridabad and Kolkata Plants

See Zee Business Live TV Streaming Below:
 

Cummins India: Amund Funds bought 17.87 lakh shares of Cummins India at Rs 348.82 a share.