Stocks in Focus on May 20: Key benchmark indices ended with decent gains on Tuesday, May 19, 2020, tracking strength in other Asian peers. Traders were optimistic about a potential vaccine for the coronavirus. Domestic shares also witnessed bargain hunting after the Sensex and the Nifty lost about 6% in the past three sessions. However, gains were capped due to rising coronavirus cases in India. The barometer S&P BSE Sensex rose 167.19 points or 0.56% at 30,196.17. The Nifty 50 index gained 55.85 points or 0.63% at 8,879.10. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, May 20, 2020. List of such five stocks:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Bajaj Finance/ Tata Power/ Apollo Tyres/ L&T Infotech/ JMC Projects: These companies have declared their March quarter results after the market was closed on Tuesday. Find Details:

Bajaj Finance: Bajaj Finance on Tuesday posted the financial results of March quarter FY20 and reported a 19% Year-on-Year (YoY) fall in net profit at Rs 948 crore in comparison to Rs 1,176 crore posted in the same quarter last year. Zee Business analysts projected the number at Rs 1,502 crore. The company’s net interest income (NII) increased 38% to Rs 4,684 crore against Rs 3,385 crore posted last year. Its Gross NPA on quarter-on-quarter (QOQ) stood at 1.61% on against 1.6% of December quarter and net NPA was 0.65% against 0.6%. The company made provisions of Rs 948 crore in Q4FY20 on COVID-19. GNPA stable but higher provisioning has hit the profitability. The company has identified two large accounts as stressed and did provisioning of Rs 390 crore. The company lost 10 productive days in Q4FY20 resulting in the lower acquisition of nearly 1.0 million loan accounts and lower AUM of approximately Rs 4,500 crore.

See Zee Business Live TV streaming below: 

Tata Power: Tata Power on Tuesday reported a 329% YoY increase in its consolidated net profit to Rs 846 crore in March quarter FY20 against Rs 197 crore posted in the same quarter last year. The company’s revenue from operations declined 8.4% to Rs 6,621 crore from Rs 7,230 crore. Zee Business analysts projected the number at Rs 7,672 crore. Its EBITDA stood at Rs 1,579 crore, up 17%, from Rs 1,348 crore and reported margin of 23.8% against 18.6%. Profit grew due to gain on sale of Cennergi investment offset by impairment provision in SED & reversal of MAT Credit due to transition to the new tax regime in the renewables business.

Apollo Tyres: Apollo Tyres on Tuesday reported a 7 per cent YoY decline in the consolidated net profit at Rs 78 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 84 crore in the year-ago period. Its revenue from operations in the quarter under review stood at Rs 3,610 crore, down by 15%, compared to Rs 4,273.7 crore posted last year. EBITDA stood at Rs 475 crore, up 11.7%, from Rs 425 crore.

Larsen & Toubro Infotech: The IT services arm of L&T Group, has reported a 13.1% QoQ increase in its consolidated net profit at Rs 426.7 crore for March quarter FY20 as compared to Rs 377.3 crore posted in December quarter of the same year. Its revenue from operations grew by 7.2% to Rs 3,012 crore compared to Rs 2,811 crore posted in December quarter. EBIT stood at Rs 503.4 crore, up 10.2%, against Rs 457 crore. 

Ujjivan Small Finance Bank: Ujjivan SFB on Tuesday posted the financial results of March quarter of the financial year 2019-20 and reported 12% YoY decline in net profit at Rs 64 crore against Rs 73 crore posted in the corresponding quarter last year. Company’s net interest income (NII) grew 45% to Rs 466 crore from Rs 320 crore posted last year. Provisions stood at Rs 97 crore from Rs 12.3 crore. The company’s gross NPA stood at 0.97% QoQ from 0.95%. Net NPA at 0.20% from 0.38 percent quarter-on-quarter. 

JMC Projects: JMC PROJECTS (INDIA) LTD on Tuesday posted financial results for the period ended March 31, 2020, and reported a loss of Rs 55 crore on Year-on-Year basis compared to Rs 35 crore posted a year ago in the same quarter. Its revenue from operations in March quarter stood at Rs 976 crore, down 0.4%, from Rs 980 crore posted a year ago. EBITDA was Rs 54 crore, down 57%, against Rs 128 crore posted last year.

IRCTC: Indian Railways will run 200 non-AC trains daily as per the time table from June 1, whose online booking will start soon.

Chemical + petrochemical stocks in focus: In its trial to protect the domestic industry, India is considering a proposal to levy 15% Covid-19 tax on all chemical and petrochemical imports from May 1, 2020, to March 31, 2021.

Mangalam Drugs & Organics: Gets Certificate of Suitability (CEP) for API - Hydroxychloroquine Sulphate (HCQS) from European Directorate for the Quality of Medicines & Healthcare (EDQM). The drug is used in the treatment of Malaria. 

Equitas Holdings: Morgan Stanley Asia (Singapore) acquired 19.67 lakh shares (0.58%) at Rs 44.39 per share.