Stocks in Focus on October 20: Britannia, HDFC Life, L&T, MRPL to KIOCL; here are the 5 Newsmakers of the Day
Equity benchmarks on Monday, October 19, 2020, gained around one per cent amid mixed global cues. The Sensex closed above 40,000-mark and the Nifty settled above 11,850. The BSE 30-share index, Sensex gained 449 points or 1.12 per cent to settle at 40,432. The NSE Nifty-50 index also rose 111 points or 0.94 per cent to settle at 11,873. But certain stocks came in news after the market was closed
Equity benchmarks on Monday, October 19, 2020, gained around one per cent amid mixed global cues. The Sensex closed above 40,000-mark and the Nifty settled above 11,850. The BSE 30-share index, Sensex gained 449 points or 1.12 per cent to settle at 40,432. The NSE Nifty-50 index also rose 111 points or 0.94 per cent to settle at 11,873. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, October 20, 2020. List of such five stocks:
Triggers: Certain events, like Result and Equitas SFB IPO, can create positive/negative reactions in the share market when it opens today. Find them in detail:
Results:
Nifty: HUL (post-market)
Cash: Granules India, Ramkrishna Forgings, Maharashtra Scooters, Mahindra CIE, L&T Infotech, Gujarat Ambuja Exports, Bombay Dyeing, Vardhman Acrylics, CCL Products, CRISIL, DCM Shriram, Hindustan Zinc, Indian Energy Exchange, Kajaria Ceramics, IFB Industries.
Equitas Small Finance Bank IPO: Equitas Small Finance Bank’s (SFB) Rs 518 crore initial public offer (IPO) will kick off on today. The price band for the issue is fixed at Rs 32-33 per share, and the issue will close on Thursday, October 22, 2020.
Post Market Results: Some companies like Britannia, HDFC Life & ACC posted their September quarter results on Monday after the markets were closed for trading purposes. These stocks are likely to be in action today when the market will open for trading purposes. Details:
Britannia Industries: India’s leading Food Company, Britannia Industries, on Monday reported a profit of Rs 498 crore for the quarter ended September 30, 2020. It had posted a profit of Rs 404 crore in the same quarter last year. Revenue from operations grew to Rs 3,419 crore in Q2FY21 against Rs 3,049 crore posted last year. EBITDA stood at Rs 676 crore against Rs 492 crore posted last year. The margins increased to 19.7% in Q2FY21 against 16% posted in Q2FY20.
HDFC Life: HDFC Life on Monday reported a 5.83% year-on-year rise in profit at Rs 326 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 308.7 crore in the same quarter last year. The net premium income grew 54.7% to Rs 10,045.44 crore compared to Rs 7,453.7 crore posted last year. New business premium grew at 7% and renewal premium grew by 22%. Besides, the solvency ratio of the insurer stood at 203% and embedded value improved by 16%. Opening up of the economy has led to Pickup in activity level and COVID related claims remain within the estimate, non-COVID claims has seen a fall
ACC Ltd: Cement maker, ACC Ltd on Monday reported a 21% year-on-year rise in profit at Rs 363 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 300 crore in the same quarter last year. Sales grew by 0.2% to Rs 3,537 crore in Q2FY21 against Rs 3,527.5 crore posted last year in the same period. EBITDA stood at Rs 670 crore, up 20.7% from Rs 555 crore posted in the same quarter last year. The margin grew to 18.9% in Q2FY21 against 15.7% posted in Q2FY20. The company has said, focus on premium products has enabled net sales to grow even in troubled times. Efficiency and cost reduction drives margin to 18.9% and cement sales volume increased by 1%. RMX volume continues to be under pressure due to slow down in construction activity. Share of blended cement has gone up to 91% during the quarter vs 88% in the same quarter previous year.
L&T: Larsen & Toubro wins the financial bids for the design and construction of 237 km length of the viaduct for 508 km of the upcoming high-speed rail line between Mumbai and Ahmedabad. The bids were opened on Monday (October 19) and the L&T emerged as the lowest bidder. The company bid Rs 24,985 crore for constructing the 237.1 km line for the bullet train project. The Mumbai-Ahmedabad bullet train corridor is being built at a cost of Rs 1.08 lakh crore with funding from the Japan International Cooperation Agency.
MRPL: Mangalore Refinery & Petrochemicals Ltd. on Monday said that its board has approved the acquisition of 49% stakes in ONGC Mangalore Petrochemicals (OMPL). MRPL was holding 51% of the paid-up equity of OMPL, which has been increased to 99.9998% pursuant to the acquisition of equity shares from ONGC. MRPL has bought 124.6 crore equity shares of OMPL at Rs 1,217 crore at Rs 9.76 per share.
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KIOCL: The board of KIOCL on Monday approved the buyback proposal of 1.41 crore fully paid-up equity shares representing 2.28% of equity worth Rs 156 crore. The buyback price has been set at Rs 110 per share (a discount of 19%). The record date for buyback has been fixed on October 30, 2020.
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