Stocks in Focus on February 17: Schaeffler India, Vedanta, Tata Motors, Auto Ancillary Stocks, Hikal and many more

Domestic benchmark indices ended with minor losses on Wednesday, February 16, 2022. The S&P BSE Sensex fell 145.37 points or 0.25% at 57,996.68. The Nifty 50 index slipped 30.25 points or 0.17 per cent to 17,322.20. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, February 17, 2022. List of such stocks:

Q3FY22 Earnings

Schaeffler India: The ball and roller bearing manufacturing company has reported a 34.6% YoY rise in the consolidated profit at Rs 190.6 crore for the third quarter ended December 31, 2021, as compared to Rs 141.6 crore posted in the year-ago quarter. Revenue from operations grew 19.6% YoY to Rs 1,523.2 crore against Rs 1,273.8 crore posted last year. EBITDA stood at Rs 286.9 crore, up 25.2% YoY against Rs 229.1 crore posted last year. Margin improved marginally to 18.8% in Q3FY22 against 18% posted in Q3FY21. Besides, the board of directors of the company has recommended a Dividend of Rs 16 per Equity Share of the face value of Rs 2 each.

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SPIC: The petrochemicals manufacturer Southern Petrochemical Industries Corporation Ltd (SPIC) has reported 9.3 times YoY rise in the consolidated profit at Rs 59.6 crore for the third quarter ended December 31, 2021. Revenue from operations grew 15.4% YoY to Rs 492.5 crore against Rs 426.7 crore posted last year. EBITDA stood at Rs 63.5 crore, up 4.7 times YoY against Rs 13.4 crore posted last year. Margin improved marginally to 12.9% in Q3FY22 against 3.1% posted in Q3FY21.

Stocks in News

Vedanta Ltd: Anil-Agarwal-led Vedanta in its clarification on a media report about the partnership with Foxconn to manufacture semiconductors in India has said that the proposed business of manufacturing semiconductors is not under Vedanta Limited and it understands that it will be undertaken by the holding company of Vedanta Limited.

Tata Motors Ltd.: Jaguar Land Rover has formed a multi-year strategic partnership with NVIDIA, the leader in artificial intelligence (AI) and computing, to jointly develop and deliver next-generation automated driving systems plus AI-enabled services and experiences for its customers. Starting in 2025, all new Jaguar and Land Rover vehicles will be built on the NVIDIA DRIVE software-defined platform—delivering a wide spectrum of active safety, automated driving and parking systems as well as driver assistance systems.

Auto Ancillary In Focus: Indian government wants electric car major Tesla to buy $500 million worth of local auto components to be eligible for an import tax cut in the country. The report also claims that Tesla has been given the condition that it can start procuring local auto parts at a lower base.

Infosys Ltd.: India's second-largest IT services firm Infosys has been named as the foundation partner in the launch of Google Cloud Cortex Framework. Through this partnership, Infosys will enable its clients to build transformational digital capabilities that are crucial to evolve the new business and operating models

JSW Ispat: The Board of Directors of JSW Ispat Special Products has approved the acquisition of 100% of the equity share capital of Mivaan Steels Limited ('MSL') to make it a wholly-owned subsidiary of the Company. The “Specified Undertaking” means the business undertaking of the company pertaining to the manufacturing facilities at Raipur and mining facilities at Kanker and associated coal washery operations at Patherdih and certain other assets and properties. JSW ISPAT will get Rs 443 crore from the business transfer. 

Hikal: The company has received a notice from the Maharashtra Pollution Control Board (MPCB) on February 15, 2022, for the closure of the Company’s Manufacturing Unit located at MIDC Taloja, Dist. Raigad, within 72 hours of the receipt of the said notice, in view of certain alleged non-compliances of the conditional Consent to operate and the recent Surat issue. The Taloja unit had contributed approx. Rs 260 crores amounting to around 15% of the turnover of the Company for the financial year 2020-21.

GHCL Ltd.: The Board of Directors have approved the additional capital budget amounting to Rs 83 crore for the Spinning division of the Company for FY 2021-22. The said amount of CapEx will be spent on the installation of a Solar Power plant of 20 MW for the Company's use by Madurai and Manaparai units of the Spinning division of the Company in the state of Tamil Nadu and will contribute to its sustainable journey.

Fund Action

Quess Corp Limited: Promoter bought 0.09% stakes in the company on February 15, 2022. 

Shakti Pump Ltd.: Promoter bought 0.05% stakes in the company on February 15, 2022.

Mawana Sugar: Mckinley Capital Emerging Markets Growth Fund Series A buys 2,65,688 shares of the company at Rs 103.67 per share.