Stocks in Focus on April 6: Tata Steel, Bandhan Bank, Marico, TVS Motor, Paytm and many more

Key indices at the domestic stock markets ended with modest losses on Tuesday, April 5, 2022, snapping a two-day rising streak. The S&P BSE Sensex slipped 435.24 points or 0.72% at 60,176.19. The Nifty 50 index shed 96 points or 0.53% at 17,957.15. Both the indices rose about 3.5% in the previous two sessions. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, April 6, 2022. List of such Stocks:

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Hariom Pipe Industries IPO: The Rs 130.05-crore initial public offering (IPO) of Hariom Pipe Industries closed with 7.93 times subscription on April 5, 2022. The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.91 times and that of non-institutional investors (NIIs) was 8.87 times. The retail individual investors (RIIs) portion was subscribed 12.15 times. The issue will close today. The price band for the 85 lakhs share issue has been fixed at Rs 144-153 per share. Investors can bid for a minimum of 98 shares and in multiples of 98 shares thereafter.

Business Update ~Q4 update 

Tata Steel ~Q4 Provisional Update 

Production volume (India) increased from 4.75 million tons to 4.90 million tons.
Production volume (Europe) fell from 2.66 million tons to 2.33 million tons.
Delivery volume (India) increased from 4.67 million tons to 5.12 million tons.

Tata Steel Long Products ~Q4 Provisional Update 

Finished steel sales volume fell from 1.72 lakh tons to 1.58 lakh tons.
Crude steel output fell from 1.86 lakh tons to 1.66 lakh tons.

PB Fintech ~Q4 Update  

Insurance premium grew 70% YoY to Rs 2,177 crore. 
New life insurance premiums grew at 38% YoY. 
Total health insurance premiums grew at 40% YoY. 

PaisaBazaar ~Q4 Update  

Disbursement of loans grew by 72% YoY to Rs 2189 crore. 
Credit Cards issued through Paisabazaar grew by 299% to 73k. 

Bandhan Bank ~Q4 update 

Advances as of March 31, 2022, increased by 16% (YoY) to Rs 1 lakh crore.
Total deposits as of March 31, 2022, increased by 24% (YoY) to Rs 96,330 crore.

South Indian Bank ~Q4 update 

Gross advances as of March 31, 2022, increased by 4% (YoY) to Rs 61,820 crore.
Total deposits as of March 31, 2022, increased by 8% (YoY) to Rs 89,140 crore.

Poonawalla Fincorp ~Q4 update 

Disbursements: Disbursements for Q4FY22 were at approximately Rs 3,330 crores.
The collection efficiency continued an upward trajectory and stood at approximately 108.4% in March 2022.
AUM was at approximately Rs 16,575 crore as of March 31, 2022, implying a growth of 17% YoY.

Marico~Q4 business update 

During the quarter, consumption trends remained subdued amidst weak rural sentiment and inflation in global commodities aggravating due to geopolitical tensions.

FMCG volumes declined in the Jan-Feb’22 period on a year-on-year basis (per Nielsen).

India business: Revenue growth in the quarter was in the low single digits 

India business: Volumes were marginally positive on an exceptionally high base (25%) (leading to double-digit volume growth on a 2-year CAGR basis)  

The International business delivered double-digit constant currency growth on a strong base, with all markets faring well. 

Margin expected to be at similar levels as the same quarter last year 

Stocks in News 

Vodafone Idea: Virtual Press Conference to unveil a new initiative at 12 noon.

Tata Motors: Press Conference to unveil New Electric SUV concept at 12 noon.

TVS Motor: Jio-bp and TVS Motor Company on Tuesday announced that they have agreed to explore the creation of a robust public EV charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp's growing network in this space.

PayTM: The Parliamentary Standing Committee on Finance on Tuesday had a discussion on the ambit of issues including the initial public offerings (IPO) of Paytm, which was listed at a steep discount against its issue price on the stock exchange. The panel also discussed the unified securities code as well as cyber security. The committee inquired about the status of the ongoing investigation into lapses on the National Stock Exchange (NSE). The next meeting of the committee will be held soon in Mumbai.

MGL: The company has increased the MRP of Compressed Natural Gas (CNG) by Rs 7/Kg and Domestic Piped Natural Gas (PNG) by Rs 5/ SCM in and around Mumbai, effective from midnight of April 05, 2022. 

IGL: The cooking gas distribution company has increased the CNG price by Rs 2.5 per kg in Delhi. 

TCS: Tata Consultancy Services (TCS) on Tuesday announced that the Kansas Department of Labor (KDOL) has selected TCS to build a modern, secure, web-based system for the state’s unemployment insurance program, transforming a legacy mainframe platform from the 1970s into a cloud-based system that dramatically improves the delivery of services to Kansas residents. 

L&T: The Ministry of Corporate Affairs (MCA), reportedly, has sought information from Larsen & Toubro on a complaint about alleged 'corporate governance' raised by a former employee. MCA sent its notice to the conglomerate in March 2022 and officers have also conducted a physical inspection at the registered office of the company. The period of the alleged probe is between 2003 and 2008 and the former employee in his complaint has alleged that during the period the company deducted the salaries of its employees with the assurance of issuing them shares of L&T but instead, it issued them redeemable preference shares of L&T Welfare Co, a unit of L&T.

Gufic Biosciences: The company on Tuesday announced that it has received DCGI approval for Thymosin Alpha-1 (Immunocin α - A Brand of Gufic for the said drug) as an add-on therapy for the treatment of moderate-to-severe COVID-19 patients requiring ventilator support (NIV as well as Mechanical Ventilation). Immunocin α, an Immuno-modulator drug, significantly reduced the risk of death in Phase 3 Clinical trial in adult patients with moderate-to-severe COVID-19.

Triveni Engineering & Industries: The company's new 160 KLPD distillery at its sugar unit in Rampur, Uttar Pradesh, (which has the flexibility to operate with multiple feedstocks i.e. molasses/cane juice & syrup/grain-based) has commenced commercial operations with effect from April 4, 2022. 

Dr Lal Path Labs: Diagnostic services provider Dr Lal PathLabs on Tuesday said it has launched a pilot project to use drones for transporting blood samples. The use of drones would expand Dr Lal Pathlab's services to inaccessible locations, the company said in a statement.

NTPC / Gujarat Gas: The National Thermal Power Corporation (NTPC) on Tuesday announced it has inked a pact with city gas distribution company, Gujarat Gas Limited, to be able to blend green hydrogen in piped natural gas (PNG) network at NTPC Kawas located in Hazira, near Surat.

GAIL: Manoj Jain, Chairman & Managing Director (CMD), GAIL, has been also been given an additional charge of the post of Director (Human Resources) of the company for five months w.e.f. April 1, 2022, to August 31, 2022, or till the appointment of a regular incumbent to the post, or until further orders.

Rain Industries: The company has announced a partial shutdown of the Calciner Plant at Visakhapatnam due to a lower allocation of RPC by DGFT for the Financial Year 2022-23 [RAIN is facing RPC shortfall to the tune of 40%] than in the previous years, the lack of sufficient raw materials has now reached a level necessitating that RAIN shuts down one Kiln, until further notice.