Stocks in Focus on April 26: ICICI Bank, HCL Technologies, M&M Finance, Pharma Stocks to ITC; here are the 5 Newsmakers of the Day

After oscillating between gains and losses on Friday, April 23, 2021, the benchmark indices closed in the red. The S&P BSE Sensex declined 202.22 points or 0.42 per cent and settled at 47,878.45. The Nifty 50 index declined 64.80 points or 0.42 per cent to close at 14,341.35. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Monday, April 26, 2021. List of such five stocks:

See Zee Business Live TV Streaming Below:

Results – ICICI Bank + HCL Technologies + M&M Finance 

ICICI Bank: The private lender had reported a 2.6 times YoY growth in the profit at Rs 4,402.6 crore for the quarter ended March 31, 2021, as compared to Rs 1,221 crore posted in the year-ago period. It reported a 17 per cent growth in net interest income (NII) to Rs 10,431 crore during the quarter as compared to Rs 8,927 crore posted last year. Net interest margin remained almost flat in Q4FY21 at 3.84 per cent as compared to 3.87 per cent posted in Q4FY20. The bank said that it made provisioning of Rs 2,883 crore in the reported quarter down 52 per cent compared to Rs 5,967 crore posted last year. The bank’s GNPA QoQ stood at 4.96% as against 5.42 per cent while NNPA was 1.14 per cent against 1.26 per cent. ICICI Bank's board has recommended a dividend of Rs 2 per share. The bank in its release said, PAT jumped due to low base + lower Provisions + NII. Its domestic advances grew by 18 per cent while the Retail loan growth stood at 20 per cent and Bank Corporate loan growth stood at 13 per cent. BB & Below book has declined for the 3rd consecutive quarter and now stands at Rs 13,098 crore Vs Rs 13,654 crore. Bank used provisions of Rs 3,509 crore in Q3FY21. It made an additional COVID-19 related provision of Rs 1,000 crore, total COVID provisioning available Rs 7,475 crore. 

HCL Technologies: Information technology major HCL Technologies has reported a 25.6 per cent quarter-on-quarter (QoQ) fall in its consolidated net profit to Rs 2,962 crore for the quarter ended March 31, 2021. Profit in the December quarter was Rs 3,982 crore. Consolidated revenues, however, grew 1.8 per cent to Rs 19,642 in Q4FY21 as compared to Rs 19,302 crore posted in the previous quarter. In dollar terms, revenue increased 3 per cent USD 269.6 crore as compared to USD 261.7 crore. Sequentially, EBIT fell 10 per cent to Rs 3,980 as compared to Rs 4,420 crore. The EBIT margin declined to 20.4 per cent in Q4FY21 as compared to 22.9% posted in Q3FY21. The CC revenue growth stands at 2.5%. The company said, its revenue is expected to grow in double digits in constant currency for FY’22. Highest ever New deal booking this quarter of US $3.1 B with an all-time high exit pipeline. - Company won 19 large deals in Q4 in Financial Services, Life Sciences, Consumer Goods & manufacturing. EBIT margin expected to be between 19 per cent and 21 per cent for FY’22. The board has declared 1st Interim Dividend of Rs 6 per share and a special interim dividend of Rs.10 per share. So, the total dividend stands at Rs 16 per share.  

M&M Finance: The company has reported a 32 per cent YoY drop in profit at Rs 150 crore in the quarter ended March 31, 20201, as compared to a profit of Rs 221 crore posted last year in the same period. The net interest income (NII) grew 12 per cent to Rs 1,511 crore against Rs 1,347 crore posted last year. The company made provisions of Rs 2,316 crore in the reported quarter (Q4FY21) as compared to provisions of Rs 574 crore made in Q4FY20. There was a 15 per cent decline in disbursement to Rs 5,970 crore as compared to Rs 7,041 crore. The company’s Gross NPA on the QoQ stood at 8.96 per cent in Q4FY21 as against 10 per cent reported in Q3FY21 while the Net NPA was 3.97 per cent in Q4FY21 as against 6.57 per cent posted in Q3FY21. The company has made provisions of Rs 2,316 crore in Q4FY21 as compared to provisions of Rs 1,064 crore made in Q34FY21. The management in its commentary said, the impact of the pandemic on the global economy, governments, businesses and consumers is still uncertain. Collection Efficiency was at 100 per cent. The company is seeing good demand in tractors, Cars, Pre Owned vehicle Segment but pressure continues on the OEM supply side. The management aspires to keep NNPA at 4 per cent going ahead. 1HFY22 to remain under pressure and PV disbursements expected to grow by 26 per cent in FY22. Small car segment expected to witness higher growth over large vehicles. The firm expects to disburse short term credit of Rs 20,000 crore predominantly to its existing customers over three years through the digital business unit. 

Three Offers for Sale (OFS)

Shalby: Promoter Shah Family has plans to sell up to 58.1 lakh equity shares of the company (representing 5.38% stakes) through an offer for sale. The OFS will open for non-retail investors today, i.e. on April 26, 2021, and for retail investors on retail investors. The floor price has been set at Rs 111 per share. 

Federal-Mogul Goetze India: Promoter IEH FMGI Holdings LLC has plans to sell 55.4 lakh equity shares of the company (representing 9.95% stakes) through an offer for sale. The promoter also has an option for an additional sell of another 9.95% equity shares as an oversubscription option. The OFS will open for non-retail investors today, i.e. on April 26, 2021, and for retail investors on retail investors. The floor price has been set at Rs 250 per share. 

Hathway Cable: Three promoters have plans to sell 20.5 crore equity shares of the company representing 11.6% stakes through an offer for sales. The three promoters are Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings. The OFS will open for non-retail investors today, i.e. on April 26, 2021, and for retail investors on retail investors. The floor price has been set at Rs 21.50 per share. 

ONGC: The government has a focus on the privatization of ONGC. This is the third time when the government is trying to privatise ONGC. Additional Secretary of Petroleum and Natural Gas Ministry wrote a letter to ONGC saying the petroleum ministry wants that some oil fields should be sold to some private players, like in Western offshore in Panna-Mukta and Ratna in Western offshore and R-Series, Gandhara in Gujarat. Foreign Investors to be brought to KG Basin Gas Field and drilling and other services should be divided into a separate company.

Remdesivir + Oxygen Import + Oxygen Use

Cipla/Dr Reddy's/Jubilant Pharmova: Government approved 25 new plants for the production of Remedesivir. Remedesivir's production will soon be up to 3 lakh doses per day. 
Linde India/EKC/Ingersoll Rand: Import duty and health cess has been removed on import of medical Oxygen and equipment connected to it. Duty has been removed on import of ventilators and Oxygen masks.

Central Government’s decision: In view of the acute shortage of medical oxygen in the country, the Union Ministry of Home Affairs has imposed a total ban on the use of liquid oxygen for other purposes. Though the Centre had restricted the industrial use of liquid oxygen, it had allowed exceptions to nine categories of industries such as steel, petroleum among others. Union Home Ministry has issued the orders by exercising the powers of the National Disaster Management Act. 

Adani Ports: Major ports waive off all charges for ships carrying oxygen and oxygen related equipment cargo. 

ITC/VST/Godfrey Philips: The Bombay High Court has suggested a temporary ban on cigarette sales during the epidemic.