Stocks in Focus on November 9: Gland Pharma IPO, Cipla, ITC, Divi’s Laboratories to BPCL; here are the 5 Newsmakers of the Day

Domestic equity benchmarks ended near the day's high on Friday, November 6, 2020. The S&P BSE Sensex spurted 552.90 points or 1.34 per cent at 41,893.06. The Nifty 50 index rose 143.25 points or 1.18 per cent, to close at 12,263.55. Nifty Bank rose 485.85 points, or 1.85 per cent, to end at 26,789.95. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, November 9, 2020. List of such five stocks:

Gland Pharma IPO: Hyderabad-based Gland Pharma’s Initial Public Offering (IPO) to raise up to Rs 6,480 crore will open today, November 9, 2020. The price band for the offer has been fixed at Rs 1,490-1,500 per share. The issue will remain open till November 11, 2020. Ahead of the opening of the IPO, Gland Pharma on Saturday said it has raised a total of Rs 1,944 crore from anchor investors.

Cipla: The leading multinational pharmaceutical company Cipla has reported a 41% year-on-year rise in consolidated profit at Rs 665 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 471 crore in the same quarter a year ago Revenue from operations grew 15% to Rs 5,038 crore from Rs 4,396 crore. The EBITDA rose to Rs 1,176.5 crore, up 29% from Rs 909 crore. The margins grew to 23.3% in Q2FY21 against 20.6% posted in Q2FY20. Besides, Cipla said that its Indian business grew 17% YoY to Rs 2,090 crore against Rs 1,789 crore posted last year. North American business grew 10% to Rs 1,049 crore against Rs 953 crore posted last year. European business grew 30% to Rs 247 crore in Q2FY21 from Rs 190 crore posted in Q2FY20. Demand for APIs improved 20% to Rs 189 crore against Rs 157 crore posted last year. The company said it was working with USFDA to comprehensively address observations received in Goa. 

ITC: Cigarettes-to-hotel major ITC has reported a 19.7% year-on-year decline in profit at Rs 3,232 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 4,023 crore in the corresponding quarter last year. Net revenue dropped 4% to Rs 11,183 crore in the reported quarter against Rs 11,659 crore posted last year. The EBITDA fell to Rs 4,060 crore, down 11% from Rs 4,562 crore posted last year. The margin dropped to 36.3% in Q2FY21 against 39% posted in Q2FY20. The company has said that its FMCG segment has delivered strong growth as the segment's revenue grew by 18.4% and EBITDA was 66% up on a year-on-year basis. It has launched 70 new products in the first half of the year. It said cigarette revenue dropped 4%. 

Divi's Laboratories: Divi’s Laboratories has reported a 45.6% year-on-year rise in the profits to Rs 519.6 crore for the quarter ended September 30, 2020. It has posted a profit of Rs 356.8 crore in the same quarter last year. Revenue from operations grew 21% to Rs 1,749.3 crore in the reported quarter against Rs 1,445.6 crore posted last year in the same quarter. EBITDA grew to Rs 741 crore, up 51% from Rs 490.6 crore posted in Q2FY21. The margins advanced to 42.4% in Q2FY21 against 33,9% posted in Q2FY20. 

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BPCL: The government had extended the deadline for bidding for the privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd (BPCL) by one-and-a-half month to November 16, 2020. However, it has allowed submission of preliminary bids for the acquisition of BPCL electronically through e-mail given the restrictions placed due to the COVID-19 pandemic. The interested parties, if they so desire, may submit the complete expression of interest (EoI) in electronic form via e-mail with all the requisite documents in pdf format by the EoI due date.