Stocks in Focus on April 26: Campus Activewear IPO, Tatva Chintan Pharma, GMDC, Defence Stocks, Bank of Baroda and many more

Benchmark indices declined for the second trading session on Monday, April 25, 2022, amid weak global cues. The S&P BSE Sensex lost 617.26 points, or 1.08%, to settle at 56,579.89. The Nifty 50 index fell 218 points, or 1.27%, to close at 16,953.95. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, April 26, 2022. List of such Stocks:

IPOs

Campus Activewear: The Rs 1,400 crore initial public offering IPO of Campus Activewear will open for subscription today, i.e., April 26, 2022, and close on April 28, 2022. The price band for the issue is set at Rs 278-292 per equity share. The issue is entirely an offer-for-sale (OFS) from the promoters and existing shareholders of the company. They will offload 4,79,50,000 shares during the OFS. Besides, the footwear brand on April 25, 2022, raised Rs 418.3 crore from 32 anchor investors, ahead of its public issue opening. Marquee investors participated in the anchor book included Abu Dhabi Investment(6.4%), Fidelity (6.4%), The Nomura (6.4%), East Spring (6.4%), Ashoka India (6.4%), HDFC trustee( 6.4%), ICICI Pru (10.1%), Nippon Life (6.4%), Societe general, Goldman, Motilal Oswal, Invesco among others. 

LIC IPO: The Securities and Exchange Board of India (SEBI) on Monday approved the updated DRHP (draft red herring prospectus), which lists a 3.5% stake sale instead of 5% as mentioned in the previous draft papers, for the initial public offering (IPO) of the state-owned Life Insurance Corporation of India. With this approval, the much-awaited IPO of the insurance behemoth is likely to open on May 4, 2022, and close on May 9, 2022. The government has plans to raise an amount of Rs 21,000 crore by selling around 22 crore shares, which is equivalent to a 3.5% stake. According to the sources-based information, the LIC's board is scheduled to meet on April 27, 2022. The IPO values LIC at Rs 6 lakh crore

Q4FY22 Results

Tatva Chintan Pharma Chem Ltd: The company on Monday reported a 16.7% YoY decline in the consolidated profit at Rs 17.5 crore for the quarter ended March 31, 2022, against Rs 21 crore posted in the corresponding quarter of the previous financial year. Revenue from operations fell 9.6% YoY to Rs 98.5 crore against Rs 109 crore posted last year. EBITDA stood at Rs 21.8 crore, down 11.7% from last year's Rs 24.7 crore. The margin was 22.1% in Q4FY22 against 22.7% posted in Q4FY21. Besides, the board has recommended a final dividend of Rs 2 per equity share for the financial year 2021-22. 

Maharashtra Scooters Ltd: The company on Monday reported a 42.9% YoY decline in the consolidated profit at Rs 1.6 crore for the quarter ended March 31, 2022, against Rs 2.8 crore posted in the corresponding quarter of the previous financial year. Revenue from operations fell 25% YoY to Rs 6 crore against Rs 8 crore posted last year. It reported a negative EBITDA of Rs 2.05 crore against a negative EBITDA of Rs 0.35 crore posted last year. It has posted a negative margin of 34.2% in Q4FY22 against a negative margin of 3.4% posted in Q4FY21. Besides, the board of directors have recommended a dividend of Rs 80 per share for the financial year 2021-22. The record date for the purpose of determining the members eligible to receive the dividend for the financial year ended March 31, 2022, has been fixed as Friday, July 1, 2022.
 

GMDC: The mining company on Monday reported a 4.3% YoY decline in the consolidated profit at Rs 177 crore for the quarter ended March 31, 2022, against Rs 185 crore posted in the corresponding quarter of the previous financial year. Revenue from operations grew 86.7% YoY to Rs 1,057 crore compared to Rs 566 crore posted last year. EBITDA grew 1191.1% YoY to Rs 420 crore in the reported quarter against Rs 33 crore posted last year. Margin improved to 39.7% in Q4FY22 against 5.7% posted in Q4FY21. 

Mahindra CIE: The multi-technology automotive components supplier Mahindra CIE has reported a 1,510% YoY rise in the consolidated profit at Rs 161 crore for the quarter ended March 31, 2022, against Rs 10 crore posted in the corresponding quarter last year. Revenue from operations grew 18.2% YoY to Rs 2,588 crore as compared to Rs 2,189 crore posted last year. EBITDA grew 3.3% YoY to Rs 295.4 crore against Rs 286 crore posted last year. The margin fell to 11.4% in Q4FY22 against 13.1% posted in Q4FY21. 

Eveready Industries India Ltd: Battery and flashlights maker Eveready Industries India Ltd on Monday reported a narrowing of its consolidated net loss to Rs 38 crore for the fourth quarter ended March 31, 2022, against a net loss of Rs 44 crore posted in the corresponding quarter last year. Its revenue from operations declined 11.4% YoY to Rs 241 crore in the reported quarter against Rs 272 crore posted last year. It posted a negative EBITDA of Rs 36 crore against a negative EBITDA of Rs 41 crore last year. It reported a negative margin of 14.9% in Q4FY22 against a negative margin of 15.1% posted in Q4FY21. 

Tata Investment Corporation Ltd: The NBFC has reported a 970% YoY rise in the consolidated profit at Rs 214 crore for the quarter ended March 31, 2022, against Rs 20 crore posted in the corresponding quarter of the previous financial year. Revenue from operations jumped 388.5% to Rs 254 crore in the reported quarter against Rs 52 crore posted last year. EBITDA grew 394.8% YoY to Rs 229 crore against Rs 46.28 crore posted last year. The margin grew to 90.2% in Q4FY22 against 89% posted in Q4FY21. 

Automotive Stamping and Assemblies: The company on Monday reported a consolidated profit of Rs 60 crore for the quarter ended March 31, 2022, against a consolidated net loss of Rs 0.2 crore posted in the corresponding quarter of the previous financial year. Its revenue from operations grew 50.4% YoY to Rs 203 crore in the reported quarter against Rs 135 crore posted last year. EBITDA fell 78.8% YoY to Rs 1.7 crore against Rs 8 crore posted last year. Margin dropped to 0.8% in Q4FY22 against 5.9% posted in Q4FY21. The company has reported an exceptional gain of Rs 62 crore in the reported quarter. 

Stocks in News

Defence Stocks: Defence Acquisition Procedure-2020 has been amended to promote ‘Make in India’ and ‘Aatmanirbharta’ in defence. Defence Ministry said in a release that all modernisation requirements of the three Services and the Indian Coast Guard will be indigenously sourced irrespective of the nature of procurement. The requirement of the Integrity Pact Bank Guarantee has been dispensed with to reduce the financial burden on the domestic industry. Import of defence equipment/sourcing from Foreign Industry of capital acquisitions should only be an exception and undertaken with specific approval of DAC/Defence Ministry. Domestic companies need not give Integrity Pact Bank Guarantee. This will give financial relief to domestic companies

IndiaMART InterMESH: The Board of Directors of the company will meet on Thursday, April 28, 2022, to consider the proposal for the buyback of fully paid-up equity shares of the Company, 

Bank of India: The Board of Directors of the Bank on Monday approved the capital raising plan upto Rs 2,500 crores by the issue of fresh Equity Capital in the form of QIP / FPO / Preferential Issue. The main purpose of the capital raising plan is to increase the minimum public shareholding from the present 18.59% to 25% or above in order to comply with the minimum public shareholding requirements as per the Security Contracts (Regulation) Rules, 1957 and SEBI (LODR) Regulations, 2015. With this, the government's stakes in the state-owned bank will decrease from 81.41% to 75%. 

Varun Beverages: The Board of Directors of the company will meet Thursday, April 28, 2022, to consider the proposal for the declaration of the Bonus Issue of Equity Shares. It will also consider and approve the Unaudited Financial Results of the Company, both on a Standalone and Consolidated basis, for the Quarter ended March 31, 2022. 

Veranda Learning Solutions: The edutech company on Monday announced that it has signed a definitive agreement to acquire 100% stakes of T.I.M.E. (Advanced Educational Activities Pvt Ltd) for a consideration of Rs 287 crores. Besides, the company's board has also approved an increase in borrowing powers from Rs 250 crore to Rs 1,000 crore. 

Aarti Industries: LIC on April 22, 2022, bought additional 2.24 lakh shares of the company via the open market. With this, LIC's stake in the company has increased from 4.97% to 5.03%.