Stocks in Focus on April 13: TCS, Hindustan Copper, Bandhan Bank, Satin Creditcare to Magma Fincorp; here are the 5 Newsmakers of the Day
The domestic stocks markets ended with sharp losses of around three and a half per cent on Monday, April 12, 2021, as surging COVID-19 cases dented the sentiments of the investors.
The domestic stocks markets ended with sharp losses of around three and a half per cent on Monday, April 12, 2021, as surging COVID-19 cases dented the sentiments of the investors. Among the headline indices, the benchmark S&P BSE Sensex plunged 1,707.94 points or 3.44 per cent to close at 47,883.38. The Nifty 50 index cracked 524.05 points or 3.53 per cent to hit 14,310.80. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, April 13, 2021. List of such five stocks:
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Tata Consultancy Services (TCS): India’s largest information technology company (TCS) on Monday reported a 6.3% quarter-on-quarter (QoQ) growth in consolidated profit at Rs 9,246 crore for the quarter ended March 31, 2021 (Q4FY21). The company posted a net profit of Rs 8,701 crore in the previous quarter ended December 31, 2021. The company has reported a 4% QoQ rise in consolidated revenues at Rs 43,705 crore compared to Rs 42,015 crore posted in the previous quarter. The revenue in dollar terms grew by 5% QoQ to $598.9 crore against $570.2 crore posted in Q3FY21. The EBIT stood at Rs 11,734 crores, up 4.9%, from Rs 11,184 crore posted in the previous quarter. The operating margin of the fourth quarter remained almost flat at 26.8% against 26.6% posted in Q3FY21. Besides, the company’s order book at $9.2 billion in Q4FY21 was the highest ever total contract value (TCV) in a quarter. The Information Technology behemoth said that it has added 19,388 employees were added in Q4FY21, which is the highest ever in the quarter. Also, Mr. Samir Seksaria has been appointed as CFO, effective May 1, 2021, to take over from Mr. Ramakrishnan V, who would be retiring from the services effective April 30, 2021.
Hindustan Copper: The board has approved the closure of the QIP on Monday. It determined and approved the issue price of Rs 119.60 per share (at a 5% discount from floor price) of Rs 125.79 per share to be allotted to the eligible qualified institutional buyers in the issue. The issue had opened on April 7, 2021.
Bandhan Bank + Satin Creditcare
Bandhan Bank: The private sector lender Bandhan Bank said that its loans and advances grew 21% YoY to Rs 87,054 crore in Q4FY21 against Rs 71,846 crore posted in Q4FY21. Total deposits grew 37% to Rs 77,972 crore against Rs 57,082 crore. The bank’s current and savings account (CASA) deposits grew 61% YoY. Retail to total deposits improved to 79% from 78% a year back. The collection efficiency from loans was 96%. The efficiency from micro loans stood at 95% while that from the non-micro loans was 98%.
Satin Creditcare Network: The NBFC’s assets under management (AUM) stood at Rs 7,274 crore in Q4FY21 which was a QoQ growth of 5.3%. The company has raised Rs 4,312 crore in FY21. The collection efficiency improved MoM to 105% against 97.3%.
L&T Finance + Magma Fincorp
L&T Finance Limited: L&T Finance Holdings on Monday announced the scheme of amalgamation by way of merger by absorption of L&T Housing Finance (LTHFL) and L&T Infrastructure Finance Company (LTIFC) with L&T Finance (LTFL), all wholly-owned subsidiaries of L&T Finance Holdings.
Magma Fincorp: The Competition Commission of India (CCI) on Monday cleared Adar Poonawalaa-owned Rising Sun Holdings Pt Ltd to acquire 60%, a controlling stake, in Magma Fincorp Ltd. The company will buy the stakes at an investment of Rs 3,200 crore.
Strides + Brigade
Strides Pharma: HDFC Mutual Fund sold 7 lakh shares at Rs 850 apiece. Smallcap World Fund Inc bought 14.93 lakh shares at Rs 850 apiece. It also bought another 5.96 lakh shares at 849.99 per share.
Brigade Enterprises: Vanguard Funds bought 16.72 lakh shares (0.79%) at Rs 257.33 per share
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