Stocks in Focus on May 27: Torrent Pharma, Kotak Mahindra Bank, Bharti Airtel; here are the 5 Newsmakers of the Day

The domestic stocks markets, NSE Nifty and BSE Sensex, closed in red after paring away the early gains on Tuesday, May 26, 2020. Selling in IT pivotal, Bharti Airtel and Reliance Industries put pressure on bourses. The barometer S&P BSE Sensex fell 63.29 points or 0.21% at 30,609.30. The Nifty 50 index fell 10.20 points or 0.11% at 9,029.05. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, May 27, 2020. List of such five stocks:

Torrent Pharma/ Max Financial Services Ltd/ Deepak Nitrite/ SH Kelkar/ Coromandel International: These are the companies that posted their March quarter financial results for FY20 after on Tuesday after the market hours. 

Torrent Pharmaceuticals: Drugmaker, Torrent Pharmaceuticals Ltd on Tuesday posted a consolidated profit after tax year-on-year of Rs 314 crore for the quarter ended on March 31, 2020. In Q4FY19, the company had posted a consolidated loss of Rs 152 crore. The company saw its total consolidated revenue in Q4FY20 at Rs 1946 crore, up by a marginal 4.8% over Rs 1856 crore in Q4FY19. Its EBITDA stood at Rs 548 crore, up 15.8%, from Rs 473 crore posted in the same quarter last year. Margins grew to 28.1% from 25.4%. 

Max Financial Services Ltd.: The company on Tuesday posted its Q4FY20 financial results and posted 97% year-on-year fall in the consolidated profit at Rs 6.67 crore against Rs 200 crore posted in the same quarter last year, i.e. Q4FY19. Its total income was down 40% to Rs 4,265 crore against Rs 7,136 crore posted last year.  

Deepak Nitrite: Deepak Nitrite on Tuesday reported an 87% year-on-year increase in consolidated net profit at Rs 172 crore for the quarter ended March. Its net profit stood at Rs 92 crore in the year-ago period. The company’s total sales rose to Rs 1,055,5 crore, up 4.6%, in the quarter under review from Rs 1,018.3 crore in the corresponding period of the previous year. EBITDA grew by 35% to Rs 262 crore from Rs 194 crore, while margin grew to 24.8% from 19.2% posted in the same quarter last year.
SH Kelkar & Co.: Net profit of S H Kelkar & Company declined 40.3% year-on-year to Rs 12.2 crore in the quarter ended March 2020 as against Rs 20.15 crore during the previous quarter ended March 2019. Sales rose 0.52% to Rs 271 crore in the quarter ended March 2020 as against Rs 269.7 crore during the previous quarter ended March 2019. EBITDA rose 27% to Rs 31.7 crore against Rs 24.92 crore, while margin grew to 11.6% from 9.2%.

Coromandal International: Coromandel International Ltd, which manufactures fertilisers, crop-protection products and bio-pesticides, has registered on Tuesday posted a 112.3% year-on-year growth in the consolidated profit after tax at Rs 234.2 crore in March Quarter ended on March 31, 2020. The company’s profit stood at Rs 110.3 crore in Q4 FY19. Its consolidated sales stood at Rs 2,869.3 crore against Rs 2,638.3 crore posted in the same period last year. EBITDA grew 50.9% to Rs 390.7 crore against Rs 258.8 crore posted in the corresponding quarter last year. The margin grew to 13.62% from 9.81%. 

Kotak Mahindra Bank: The private lender on Tuesday launched qualified institutional placement (QIP) offering to raise Rs 7,500 crore. The bank has set a floor price of Rs 1,147.75 per share for the offering. 

IPCA/Cadila: The stocks of IPCA Laboratories and Cadila Healthcare will be in focus today as Indian Council of Medical Research (ICMR) on Tuesday said that no major side-effects of antimalarial drug Hydroxychloroquine (HCQ) have been found in studies in India and its use can be continued in preventive treatment for Covid-19 under strict medical supervision.

Titan: The company has shared its Covid-19 and lockdown update with the exchanges and said that it has opened around 43% of its stores across all businesses till date. The sales in stores that have opened up are at around 50% of the sales in a normal period and are improving gradually. The Company has successfully issued Rs 1,000 crore of Commercial Papers during April and May at extremely attractive rates to meet the funding requirements. Supplies for watch and eyewear have commenced.

See Zee Business Live TV Streaming Below:

Bharti Airtel: Promoter Bharti Telecom has sold 15 crore shares (2.75%) at Rs 562.2 per share and Societe Generale acquired 3.53 crore shares (0.65%) at Rs 561.1 per share.