Stocks in Focus on May 11: ICICI Bank, SeQuent Scientific to IRCTC; here are the 5 Newsmakers of the Day

Supported by positive global cues, the market ended with decent gains on Friday, May 8, 2020. Firmness in index majors Reliance Industries (RIL) and Hindustan Unilever (HUL) boosted indices higher. The barometer S&P BSE Sensex gained 199.32 points or 0.63% at 31,642.70. The Nifty 50 index gained 52.45 points or 0.57% at 9,251.50. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, May 11, 2020. List of such five stocks:

ICICI Bank/ Shree Cement/ HDFC AMC/ Mahindra Holidays: These companies have declared their March quarter results after the market closed for the weekend on Friday. Find Details:

ICICI Bank: Country's largest private company on Saturday reported a 26% rise in its standalone net profit (PAT) at Rs 1,221 crore for the quarter ending March 31, 2020. The lender's net profit in the year-ago period was Rs 969 crore. The net interest income (NII) increased by 17% to Rs 8,927 crore as against Rs 7,620 crore in the same quarter last year. The lender made higher provisions to the tune of Rs 5,967 crore, up 9%, from Rs 5,451 crore. The lender's provisions in the previous quarter were Rs 2,083 crore. Gross non-performing asset (NPA) ratio for March quarter decreased to 5.53% as against 5.95% in the December quarter. The net NPA for the March quarter also decreased, to 1.41% as against 1.49% in the December quarter. NIM stands at 3.87%, which is at the highest levels. Bank said it had made COVID-19 related provision of around Rs 2,725 crore against standard assets to further strengthen the balance sheet. Additional provision made by the Bank is more than required as per the RBI guideline. Around 30% of the bank's total book is under moratorium. The board also approved fundraising of up to Rs 25,000 crore in the domestic market through the issuance of debt securities over one year. ICICI Bank’s total advances increased by 10% year-on-year to Rs 6.45 lakh crore at March 31, 2020, from Rs 5.86 lakh crore reported in the same quarter in 2019. Its total deposits increased by 18% year-on-year to Rs 7.7 lakh crore in March quarter.
 
Shree Cement: The cement maker on Friday reported 65% Year-on-Year (YoY) jump in its net profit for the quarter ending on March 31, 2020, at Rs 528 crore against Rs 321 crore posted in the same quarter last year. Its sales declined by 2% to Rs 3,218 crore against Rs 3,285 crore. EBITDA stood at Rs 1,079 crore, up 27%, from Rs 848 crore. Margins improved to 33.5% from 25.8%. 

HDFC Asset Management Company (AMC): HDFC AMC has reported a 10% YoY fall in net profit at Rs 250 crore in the March quarter 2020 against Rs 276 crore in the same period last year. Its revenue from operations during the quarter was down 2% at Rs 476 crore against Rs 486 crore. The company has declared a dividend of Rs 28 per equity share.

Mahindra Holidays & Resorts India Ltd: India's leading leisure hospitality provider announced its standalone and consolidated financial results for the quarter ended on March 31, 2020, on Saturday and reported a consolidated loss after tax of Rs 161.51 crore YoY against a profit of Rs 52.3 crore posted in the same quarter last year. Revenue from operations stood at Rs 617 crore as against Rs 635 crore in the year-ago period.

SeQuent Scientific: The Carlyle Group, the US-based private equity firm, has agreed to acquire 74% stake in SeQuent Scientific Limited for Rs 1587 crore ($210 million). Carlyle will buy shares at Rs 86 apiece. Carlyle will buy 56.15% stake held by prompters including founders Arun Kumar and KR Ravishankar, and 26% stake from the public through an open offer. SeQuent Scientific Limited is the largest pure-play animal healthcare company in India. 

Cipla + Lupin: Cipla on Saturday said the company's manufacturing facility in Bommasandra, Bangalore has received the Establishment Inspection Report (EIR) from USFDA, indicating closure of the inspection. The plant's active pharmaceutical ingredient (API) manufacturing facility in Bommasandra was inspected from January 20 to 24, 2020. Besides, Lupin on Friday announced the successful closure of the inspection carried out by the Medicines and Healthcare products Regulatory Agency (MHRA), the regulatory agency of the United Kingdom (UK), at its three manufacturing units in Pithampur (India). The inspection for the three units at Pithampur (Unit I, Unit II, and Unit III) was conducted in January 2020. 

IRCTC: Indian Railways on Sunday announced that it plans to gradually resume train services for passengers from May 12, 2020. Online bookings for reservation will start from today at 4 pm and will be available only on the IRCTC website. The train services will initially begin with 15 pairs of trains. These trains will be run as special trains from New Delhi Station connecting 15 important cities of the country. These cities are Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad, Bengaluru, Chennai, Trivandrum, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi.

See Zee Business Live TV Streaming Below:

FTSE rebalancing deferred: Stocks like Shree Cement, Asian Paints, Bajaj Finance and L&T will be in focus today as index provider FTSE Russell postponed the decision to increase India’s weight in its global indices until September due to the COVID-19-induced lockdown. The proposed changes were scheduled to be made in June. About $2 billion was expected to flow in after the rebalancing. The move would have also benefitted other stocks like Nestle India, Divi’s, Britannia, Colgate, Bharti Infratel, Tata Steel, Cipla and NTPC were expected to benefit from the move.