Stocks in Focus on April 15: Infosys, Tata Metaliks, NFL, AB Capital to Bharti Airtel; here are the 5 Newsmakers of the Day
Key equity indices broke away from a range-bound trade and closed with strong gains on Tuesday, April 13, 2021, recovering from yesterdays steep selloff.
Key equity indices broke away from a range-bound trade and closed with strong gains on Tuesday, April 13, 2021, recovering from yesterday's steep selloff. The markets zoomed over one per cent in the last hour of trading amid broad-based buying. The S&P BSE Sensex rose 660.68 points or 1.38 per cent at 48,544.06. The Nifty 50 index gained 194 points or 1.36 per cent to close at 14,504.80. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, April 15, 2021. List of such five stocks:
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Infosys: The country’s second-largest IT services company has reported a 2.3% QoQ decline in consolidated profit at Rs 5,076 crore for the quarter ended March 31, 2021. It posted a net profit of Rs 5,197 crore in the previous quarter ended December 31, 2021. Consolidated revenue from operations grew 1.5% QoQ to Rs 26,311 crore in the quarter under consideration from Rs 25,927 crore posted in the previous quarter. The dollar revenue grew 2.8% to $361.3 crore in Q4FY21 against the $351.6 crore posted in Q3FY21. The EBIT stood at Rs 6,440 crore – down 2.3% QoQ - from Rs 6,589 crore posted in Q3FY21. The EBIT margin fell to 24.5 per cent in Q4FY21 against a margin of 25.4% posted in Q3FY21. Consolidated revenue in constant currency grew by 2 per cent and the top-line growth in dollar terms was at 2.8 per cent QoQ. For FY22, the company has given the revenue growth guidance of 12%-14% in constant currency and operating margin guidance of 22%-24%. Besides, the board has approved a buyback programme of Rs 9,200 crore. The buyback will be done at a price of up to Rs 1,750 per share through the open market route. It also recommended a final dividend of Rs 15/- per equity share for the financial year ended March 31, 2021. Digital revenues stood at 51.5% of total revenues, YoY CC growth of 34.4%. Infosys Institutes New Committee of the Board Focused on ESG.
Tata Metaliks + RIIL
Tata Metaliks: One of the leading producers of pig iron and ductile iron (DI) pipes has reported a 2.6% YoY decline in its consolidated profit at Rs 75 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 77 crore in the same quarter of the last fiscal. Consolidated revenue grew 26.7% to Rs 660.9 crore from Rs 521.6 crore posted last year. EBITDA stood at Rs 143.1 crore, up 19% from Rs 120.3 crore posted last year. The margin dropped to 21.7% in Q4FY21 from 23.1% posted in Q4FY20.
Reliance Industrial Infrastructure Ltd (RIIL): Mumbai-based industrial infrastructure company has reported an 11.1% YoY fall in consolidated profit after tax at Rs 3 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 2.7 crore in the same quarter last year. Consolidated Revenue dropped 22.6% to Rs 15.1 crore in Q4FY21 from Rs 19.5 crore posted in Q4FY20. The board has declared a final dividend of Rs 3 per share for FY21.
NFL + RCF + BEML
NFL/RCF: The government intends to offload up 20% paid-up equity capital of NFL (National Fertilizer Limited) through the 'Offer for Sale' (OFS) method. The government currently holds 75.71% stakes in the company. Besides, the government is also planning to sell a 10 per cent stake in RCF (Rashtriya Chemical and Fertilizers). It holds 75% stakes in the company. DIPAM has invited EOI for merchant bankers and advisors by May 5, 2021.
BEML: DIPAM has called for EOIs for the asset monetisation of BEML by April 28, 2021.
AB Capital: Board of Directors of Aditya Birla Capital Limited has approved initial public offering by way of an offer for sale (“IPO”) of Aditya Birla Sun Life AMC Limited (“ABSLAMC”), a material subsidiary of the Company. It has also approved the sale of up to 28.50 lakh equity shares of AB Capital and 360.3 lakh equity shares of Sun Life India in the IPO. The proposed sale of AB Sun Life AMC in the IPO will include 13.50% stakes of the company. AMC is a joint venture shareholder of Sun Life India and AB Capital.
Bharti Airtel + UPL
Bharti Airtel: The telco has announced a new corporate structure. This is expected to sharpen the focus of the company on digital assets and brings focus on four distinct verticals ‐ Digital, India, International and Infrastructure. Digital will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services. Besides, Nettle Infrastructure Investments Limited, a wholly-owned subsidiary of the Company, has acquired 100% stakes in OneWeb India Communications Private Limited.
UPL: The Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty Ltd, UPL's subsidiary in Australia.
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