Stocks in Focus on February 1: ICICI Bank, CIPLA, Tata Motors, SAIL to Vedanta; here are the 5 Newsmakers of the Day

Benchmark domestic stocks on Friday, January 29, 2021, declined more than one per cent. The Sensex and Nifty logged losses amid negative global cues. The BSE Sensex plunged 588.59 points, or 1.26 per cent, down at 46,285.77. The NSE Nifty also declined 182.95 points, or 1.32 per cent to trade at 13,634.60. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, February 1, 2021. List of such five stocks:

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ICICI Bank + IndusInd Bank + IDFC First Bank 

ICICI Bank: Private Sector lender on Saturday reported a 19.1% year-on-year rise in standalone profit at Rs 4939.6 crore for the quarter ended December 31, 2020. The bank has posted a net profit of Rs 4146.5 crore in the corresponding quarter last year. Analysts at Zee Business has earlier estimated the profit at Rs 4,260 crore. Net Interest Income (NII) rose 16% YoY to Rs 9,912 crore compared to Rs 8,545 crore posted in the same period last year. NII is the difference between interest earned and interest expended. Provisions and contingencies stood at Rs 2,741.7 crore for the December quarter of the financial year 2020-21, growth of 31.6% YoY, from Rs2083.2 crore, but sequentially the same declined 8.5% from Rs 2995.3 crore. Gross non-performing assets (GNPA) as a percentage fell sequentially to 4.38% from 5.17% and net NPAs (NNPAs) declined QoQ to 0.63% in Q3FY21 from 1% posted in Q2FY21. The bank's net interest margin (NIM) stood at 3.67% in Q3FY21 against 3.57% posted in Q2FY21.

IndusInd Bank: Private lender IndusInd Bank on Friday reported a 34% year-on-year decline in net profit at Rs 853 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 1,300 crore in the same period last year. Net Interest Income (NII) grew 11% YoY to Rs 3,406 crore against Rs 3,074 crore posted last year. Provisions and contingencies rose 78% to Rs 1,853 crore in the reported quarter compared to Rs 1,043 crore posted last year. ON asset quality front, the GNPA as a percentage fell to 1.74% QoQ from 2.2% and NNPA stood at 0.22% in Q3FY21 from 0.52% reported in Q2FY21. 

IDFC First Bank: IDFC First Bank on Saturday reported a net profit of Rs 130 crore for the third quarter ended on December 31, 2020. It had reported a net loss of Rs 1,639 crore for October-December period of 2019-20. NII grew 14% to Rs 1,744 crore in the reported quarter against Rs 1,534 crore posted last year. The bank made provisions of Rs 482.2 crore in the quarter against Rs 2,304.8 crore posted last year. On a quarter-on-quarter basis, the provisions grew by 123.4% from Rs 215.8 crore. The bank's asset quality improved as gross non-performing assets (NPAs) declined to 1.33% QoQ from 1.62% reported in the September quarter. Net NPAs improved to 0.33% from 0.43% reported in the previous quarter. Net Interest Margin (NIM) rose to 4.65% in the quarter from 3.86% in the third quarter of the previous fiscal.

Cipla + Dr Lal Pathlabs + Thyrocare + Dr Reddy's 

Cipla: The drugmaker on Friday reported a 113% year-on-year rise in consolidated profit at Rs 748.2 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 351 crore in the same period of the previous financial year. Consolidated revenue from operations grew 18.2% to Rs 5,168.7 crore against Rs 4,371 crore reported last year. EBITDA stood at Rs 1,230.8 crore, up 63.1%, from Rs 758.4 crore reported last year. Margins grew to 23.8% in Q3FY21 against 17.3% posted in Q3FY20. The company in a statement said, strong demand, sustained cost optimization and operational excellence drives EBITDA margin. India sales grew 22% in the quarter and US sales went up by 10%, where the company saw a continued expansion in market share for Albuterol. Cipla ranks #1 with a TRx market share ~85% of the gProventil (Albuterol). SAGA sales up 10% YoY. The emerging-market business grew by 51% and the European operations grew by 33%. The API business grew by 22%. Board approved the Scheme of Arrangement (“Scheme”) amongst Cipla Limited (“Cipla or Demerged Company”), Cipla BioTec Limited, wholly-owned subsidiary of the Company (“CBL or Resulting Company 1”) and Cipla Health Limited, a wholly-owned subsidiary of the Company (“CHL or Resulting Company 2”).

Dr LaL PathLabs: Dr Lal PathLabs' consolidated net profit jumped 74.9% year-on-year to Rs 96 crore for the quarter ended December 31, 2020. It had reported a profit of Rs 54.9 crore in the same quarter last year. Revenue from operations grew 38% to Rs 452.4 crore in the period under review against Rs 327.9 crore posted last year. EBITDA stood at Rs 138.8, up 68.7%, from Rs 82.3 crore. The margins grew to 30.7% in Q3FY21 from 25.1% in Q3FY20. Covid and Allied contributed 21.6% to revenue in Q3 FY21 with 5.27 lac RTPCR tests. 

Thyrocare Technologies: The company has reported a 17.8% year-on-year rise in consolidated profit at Rs 32.39 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 27.49 crore in the same period last year. Revenue from operations grew 30.7% to Rs 138.27 crore against Rs 105.79 crore posted in the same quarter last year. EBITDA stood at Rs 49.6 crore, 13.3% up, from Rs 43.78 crore posted last year. The margin contracted to 35.9% in Q3FY21 against 41.4% posted in Q3FY20.

Dr Reddy's Laboratories: Dr Reddy’s on Friday said it is planning to apply for emergency-use approval (EUA) of Sputnik V COVID-19 vaccine by the end of March 2021, after receiving approval from DGCI. The vaccine will cost Rs 720 per shot.

Tata Motors + Tech Mahindra + United Phosphorus Ltd

Tata Motors: Carmaker Tata Motors has reported a 64.9% year-on-year rise in consolidated profit at Rs 3,222 crore for the quarter ended December 31, 2020. The company posted a consolidated profit of Rs 1,954 crore in the corresponding quarter last year. Consolidated revenue from operations grew 5.5% to Rs 75,653 crore in the reported quarter against Rs 71,676 crore. EBITDA stood at Rs 11,510 crore, up 59.9%, from Rs 7,196 crore. The margin expanded to 15.2% in Q3FY21 from 10% posted in Q3FY20. The company has reported a net profit after three straight quarters of losses. Mid-November festive season helped its domestic sales. JLR sales in China jumped 20.2% quarter-on-quarter and were 19.1% higher in the same period a year before. Sales at JLR rose 13.1% sequentially in the reported quarter to 1.28 lakh units. The luxury unit saw a strong sequential recovery in retails in all markets except the UK. 

Tech Mahindra: Tech Mahindra has reported a 23% quarter-on-quarter rise in consolidated profit at Rs 1,309.8 crore for the quarter ended December 31, 2020. It had reported a profit of Rs 1,064 crore in the same quarter last financial year. Revenue from operations grew 2.9% to Rs 9,647 crore from Rs 9,371.8 crore. $Revenue grew 3.4% to $130.87 crore against Rs 126.54 crore posted in the previous quarter. EBIT stood at Rs 1,537 crore, up 15.5%, from Rs 1,331.3 crore posted in September quarter. EBIT Margin grew to 15.9% in Q3FY21 against 14.2% posted in Q2FY21. The company in a statement that its constant currency (CC) revenue grew by 2.8% QoQ. The margin of the quarter is highest since 3QFY19 and net new TCV of deals steady at USD 455 million in Q3. Deal pipeline is at an all-time high & trajectory to be even sharper, and recovery was led by Europe and communication vertical. 

United Phosphorus Ltd (UPL): The chemical industry company has reported a 13.7% year-on-year rise in consolidated profit at Rs 944 crore for the quarter ended December 31, 2020. It had reported a net profit of Rs 830 crore in the same quarter last year. Revenue from operations grew 2.6% YoY to Rs 9,126 crore in the reported quarter against Rs 8,892 crore. EBITDA stood at Rs 2,202 crore, up 4.8%, from Rs 2,102 crore posted in Q3FY20. The margins expanded to 24.1% in Q3FY21 against 23.6% posted in Q3FY20. There was an exceptional gain of Rs 78 crore - cost related to restructuring in Europe and provision written back related to litigation costs. 

SAIL + Vedanta 

SAIL: State-owned Steel Authority of India (SAIL) on Friday reported a net profit of Rs 1,283 crore during the December quarter of FY 21, as against a net loss of Rs 430 crore posted during the same period last year. Revenue from operations grew 19.9% year-on-year to Rs 19,833 crore against Rs 16,541 reported last year. EBITDA stood at Rs 5,077.3, up 4098.3%, from Rs 997 crore posted in December quarter of the last financial year. Margins grew to 25.6% in Q3FY21 from 6% reported in Q3FY20. 

Vedanta: The subsidiary of Vedanta Resources Limited has reported a 40.5% year-on-year rise in consolidated profit at Rs 3,299 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 2,348 crore in the same quarter last year. Revenue from operations grew 6.4% YoY to Rs 22,735 crore in the reported quarter against Rs 6,514 crore posted last year. EBITDA stood at Rs 7,757 crore, up 19.1%, from Rs 21,360 crore. The margin grew to 34.1% in Q3FY21 from 30.5% reported in Q3Fy20.  

F&O Additions: Five stocks, namely Alkem Laboratories, AU Small Finance Bank, Deepak Nitrite, IRCTC and NAM India, will be added to the Future & Options segment in the March series.