Stocks in Focus on April 29: Rainbow Children’s Medicare IPO, Axis Bank, Ambuja Cement, Vedanta, Two-Wheelers Stocks and many more

Domestic stock indices on Thursday, April 28, 2022, climbed more than one per cent amid positive cues from global share markets. The Sensex gained 701.67 points, or 1.23% to close at 57,521.06 while the Nifty surged 206.65 points, or 1.21%, to finish at 17,245.05. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, April 29, 2022. List of such Stocks:

IPO Update: Rainbow Children’s Medicare + Campus Activewear 

Rainbow Children’s Medicare IPO: CDC Group-backed Rainbow Children's Medicare Ltd. was subscribed 0.55 times on the second day of bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.1 times, while the Non-Institutional Investors (NIIs) portion was subscribed 0.56 times and the Retail Individual Investors (RIIs) portion was subscribed 0.82 times. The price band for the issue is set at Rs 516-542 per share. The issue will close today, i.e. Friday, April 29, 2022.
Campus Activewear: The Rs 1,400 crore initial public offering IPO of Campus Activewear closed with 51.75 times bids on Thursday, April 28, 2022. The issue opened for bidding on Tuesday, April 26, 2022. The portion reserved for qualified institutional buyers (QIB) was subscribed 152.04 while the non-institutional investors' quota was subscribed 22.25 times and the Retail Individual Investors (RIIs) portion was subscribed 7.68 times. The Employee portion was subscribed 2.11 times. The issue will close today, i.e., on April 28, 2022. The price band for the issue is set at Rs 278-292 per equity share.

Q4FY22 RESULTS  

Axis Bank: 

The private sector lender on Thursday reported a 53.8% YoY rise in the consolidated profit at Rs 4,117.8 crore for the quarter ended March 31, 2022, compared to Rs 2,677.1 crore posted in the corresponding quarter last year. The net interest income, the difference between interest earned and interest expended, grew 16.7% YoY to Rs 8,819.1 crore compared to Rs 7,555 crore posted last year. The net interest margin (NIM) for the quarter came in at 3.49% Q4FY22 against 3.4% posted in Q3FY22. The lender has shown better improvement in terms of asset quality as its gross non-performing assets (NPA) reduced to 2.81% in Q4FY22 against 3.17% posted in the December 2021 quarter. Similarly, the Net NPA dropped to 0.73% against 0.91% posted in Q3FY22. The bank's deposit grew 19% YoY while its advances (loans) grew 15% YoY, with retail loans growth at 21% YoY and SME loans at 26% YoY. Axis Bank said advances at Rs 7.07 lakh crore as of March 2022 grew 15% YoY, with retail loans (which accounted for 57% of net advances) growing at 21% YoY and the growth in the corporate loan book was just 4% compared to the corresponding period last fiscal. The bank's free income grew 11% YoY. Besides, the board has recommended a dividend of Re 1 per share.

Ambuja Cement: The cement maker has reported a 25.5% YoY decline in the standalone profit at Rs 495.2 crore for the quarter ended March 31, 2022, compared to Rs 664.6 crore posted in the corresponding quarter last year. Revenue from operations grew 8.4% YoY to Rs 3,925.2 crore in the reported quarter compared to Rs 3,621 crore posted last year. EBITDA fell 19.1% YoY to Rs 790.4 crore compared to Rs 976.8 crore posted last year. Margin dropped to 20.1% in Q4FY22 against 27% posted in Q4FY21. EBITDA/ton declined 22% YoY to Rs 1,053 against Rs 1,350. Realisation/Ton grew 5.9% YoY to Rs 5233.6 compared to Rs 4943. Volume(Mn ton) grew 3.6% marginally to 7.5 against 7.24. The board has approved the appointment of Mr Arun Kumar Anand as Non-Executive Non-Independent Nominee Director representing LIC. It also appointed Mr Mario Gross as Non-Executive Non-Independent Nominee Director representing Holcim. 

IndiaMART InterMESH: The B2B marketplace has reported a 17.9% QoQ decline in the consolidated profit at Rs 57.5 crore for the quarter ended March 31, 2022, compared to Rs 70 crore posted in the previous quarter ended December 31, 2022. Revenue from operations grew 6.9% QoQ to Rs 201 crore compared to Rs 188 crore posted in December 2021 quarter. EBITDA declined 26.8% QoQ to Rs 57.3 crore compared to Rs 78.3 crore posted in the previous quarter. Margin dropped to 28.5% in Q4FY22 against 41.6% in Q3FY22. Besides, the company's board has recommended a final dividend of Rs 2 per equity share of the face value of Rs. 10 each for the Financial Year 2021-22. The board also approved the proposal for buyback of up to 1,60,000 fully paid-up equity shares of the Company having a face value of Rs 10 through the tender offer route at Rs 6,250 per share (at a premium of 27.6% at the current market price of Rs 4,900 per share), payable in cash, for an aggregate amount not exceeding Rs 100 crores. The resultant Equity Shares to be bought back at the Buyback Offer Price are 1,60,000 Equity Shares, representing 0.52% of the total Equity Shares in the total paid-up equity share capital of the Company. The record date for the purpose has been fixed on May 11, 2022. 

Shriram Transport Finance: The NBFC has reported a 43.9% YoY rise in the standalone profit at Rs 1,086.1 crore for the quarter ended March 31, 2022, compared to Rs 754.9 crore posted in the corresponding quarter last year. Net interest income, grew 19.3% YoY to Rs 2,524.4 crore in the reported quarter compared to Rs 2,115.4 crore posted last year. The company's GNPA dropped to 7.07% in March 2022 quarter from 8.4% posted in December 2021 quarter while the NNPA fell to 3.67% in the reported quarter against 4.36% posted in the previous quarter. The net interest margin of the company grew to 6.96% in Q4FY22 from 6.65% posted in Q3FY22. Its assets under management (AUM) grew 8.36% YoY. The company in a statement said, a meeting of the Banking and Finance Committee, Debt Issuance Committee and Allotment Committee will be held on May 31, 2022, to Decide the issue price of debt securities/ bonds by which fundraising is to be done. 

Biocon: The biopharmaceutical company has reported a 4.2% YoY decline in the consolidated profit at Rs 283.9 crore for the quarter ended March 31, 2022, compared to Rs 296.4 crore posted in the corresponding quarter last year. Its revenue from operations grew 30.8% YoY to Rs 2,408.8 crore compared to Rs 1,842.1 crore posted last year. EBITDA grew 35.9% YoY to Rs 591.9 crore compared to Rs 435.7 crore posted last year. Its margin grew to 24.6% in Q4FY22 compared to Rs 23.7% posted in Q4FY21. 

Vedanta: The mining giant has reported a 10% YoY decline in the consolidated profit at Rs 5,799 crore for the quarter ended March 31, 2022, compared to Rs 6,432 crore posted in the corresponding quarter last year. Its revenue from operations grew 41% YoY to Rs 39,882 crore compared to Rs 28,206 crore posted in a year-ago quarter. EBITDA grew 51% YoY to Rs 13,633 crore from Rs 9,037 crore posted last year. Margin grew to 34% in Q4FY22 from 32% posted in Q4FY21. The adjusted profit stood at Rs 6,135 crore compared to Rs 6,432 crore posted last year.  Segment performance (YoY):  

- ZINC,LEAD & SILVER +28% 

- OIL & GAS +52% 

- ALUMINIUM +75% 

- COPPER +10% 

- IRON ORE +8% 

- POWER +16% 

- OTHER +43% 

- Margins improved across key businesses despite higher power cost. 

Besides, the company has declared its first Interim Dividend of Rs 31.5 per equity share. Since October 2020 it has declared dividend of Rs 9.5 + Rs 18.5 + Rs 13.5 + Rs 13 + Rs 31.5 = Rs 86/share. Delisting price was Rs 87.5 per share.  

Mphasis: The IT firm has reported a 9.5% QoQ rise in the consolidated profit at Rs 392 crore for the quarter ended March 31, 2022, compared to Rs 358 crore posted in the corresponding quarter last year. Its revenue from operations grew 4.9% QoQ to Rs 3,278 crore compared to Rs 3,124 crore posted in the previous quarter. In dollar terms, the company's revenue grew 4.1% QoQ to $43.1 crore compared to $41.43 crore posted in the previous quarter. EBIT grew 5.8% QoQ to Rs 498 crore compared to Rs 470.5 crore posted in the previous quarter. Its margin remained almost flat and stood at 15.2% in Q4FY22 against 15.1% posted in Q3FY22. Besides, the board has recommended a dividend of Rs 46 per share. In a statement, the company has said that it will continue to stay optimistic about the current demand environment, while we are keeping an eye on macro and geopolitical headwinds. 

Fineotex Chemical Ltd: The chemical company has reported a 47.3% YoY rise in the consolidated profit at Rs 16.5 crore for the quarter ended March 31, 2022, compared to Rs 11.2 crore posted in the corresponding quarter last year. Its revenue from operations grew 61.9% YoY to Rs 121.4 crore compared to Rs 75 crore posted last year. EBITDA grew 66.7% YoY to Rs 21.5 crore compared to Rs 12.9 crore posted last year. The margin grew marginally to 17.7% in Q4FY22 from 17.2% posted in Q4FY21. The board has declared a dividend of 0.40 paise per share. 

Huhtamaki India Ltd: The packaging machinery manufacturing company has reported a 51.9% YoY rise in the consolidated profit at Rs 24.6 crore for the quarter ended March 31, 2022, compared to Rs 16.2 crore posted in the corresponding quarter last year. Its revenue from operations grew 15.2% YoY to Rs 728.5 crore compared to Rs 632.3 crore posted last year. EBITDA grew 19.9% YoY to Rs 50.7 crore compared to Rs 42.3 crore posted last year. Margin stood at 7% in Q4FY22 from 6.7% posted in Q4FY21. Besides, the company's board gave their in-principle approval for monetizing the Company's leasehold land and building situated at Chikhloli MIDC, Ambernath, Maharashtra.

IIFL Finance Ltd: The financial services company has reported a 29.6% YoY rise in the consolidated profits at Rs 320.9 crore for the quarter ended March 31, 2022, compared to Rs 247.6 crore posted in the corresponding quarter last year. Revenue from operations grew 16.1% YoY to RTs 1,856.2 crore from Rs 1,598.5 crore posted last year. Net interest income grew 10.2% YoY to Rs 868.2 crore compared to Rs 788.2 crore posted last year. 

PNB Housing Finance: The housing finance company has reported a 33.5% YoY rise in the consolidated profit at Rs 169.5 crore for the quarter ended March 31, 2022, compared to Rs 127 crore posted in the corresponding quarter last year. Its revenue from operations fell 22.2% to Rs 1,425.4 crore compared to Rs 1,831.7 crore posted last year. Net interest income fell 28.8% YoY to Rs 369.3 crore compared to Rs 518.8 crore posted last year. 

Shoppers Stop Ltd: Department store company has reported a consolidated loss of Rs 15.9 crore for the quarter ended March 31, 2022, compared to a loss of Rs 24.1 crore posted in the corresponding quarter last year. Its revenue from operations grew 4.8% YoY to Rs 713.3 crore compared to Rs 680.5 crore posted last year. EBITDA fell 19.7% YoY to Rs 76.2 crore in the reported quarter compared to Rs 680.5 crore posted last year. Margin fell to 10.7% in Q4FY22 from 14% posted in Q4FY21. The company in a statement said that we believe that the robustness in the consumer demand has offset rising costs, driving the margins higher. We expect to grow in line with the retail industry at a double-digit pace, this fiscal.

Indo Rama Synthetics: The company has reported a 16.8% YoY decline in the consolidated profit at Rs 107.1 crore for the quarter ended March 31, 2022, compared to Rs 128.7 crore posted in the corresponding quarter last year. Revenue from operations grew 51% to Rs 1,251.7 crore compared to Rs 828.4 crore posted last year. EBITDA grew 28.7% YoY to Rs 130 crore compared to Rs 101.1 crore posted last year. Margin declined to 10.4% in Q4FY22 from 12.2% posted in Q4FY21. 

Stocks in News

TVS Motors / Hero Moto / Bajaj Auto: The government has turned strict on EV two-wheelers manufacturers and has announced a ban on the launch of new EV two-wheelers, however, they are allowed to sell the existing models. 

TATA Motors: A Reuters reported that Tata Motors’ has ambitious EV plans for the current fiscal. The auto manufacturer has a production target of 80,000 units for the current fiscal. This is vastly magnified from the 19,000 units sold in the fiscal just concluded.

TATA Power: In a major thrust towards Green Mobility, Tata Power, one of India's leading electric-vehicle charging infrastructure providers, has collaborated with the National Real Estate Development Council (NAREDCO), Maharashtra to install up to 5,000 EV charging points across its member's developer properties.

Jindal Poly Films Ltd.: Jindal Polypack Limited, a wholly-owned subsidiary of the Company, has agreed to acquire 100% shareholding of SMI Coated Products Private Limited, which is engaged in the manufacturing of pressure sensitive label stocks. The enterprise value for acquisition stands at Rs 195 crore. The equity value payment will be Rs 99.65 crore. The acquisition will be completed by April 30, 2022.

Steel Exchange India Ltd.: The meeting of the Board of Directors of the Company is scheduled to meet on May 16, 2022, to consider and approve the Raising of Funds, Split in the face value of Equity Shares and Notice of AGM of the Company

Bulks Deals  

Chennai Petroleum: Dolly Khana buys 10 lakh shares at Rs 263.15 per share.