Stocks in Focus on February 3: Tata Consumer Products, PI Industries, Brookfield India Real Estate Trust IPO, Indigo Paints to Bharti Airtel; here are the 5 Newsmakers of the Day
Stocks in Focus on February 3: Tata Consumer Products, PI Industries, Brookfield India Real Estate Trust IPO, Indigo Paints to Bharti Airtel; here are the 5 Newsmakers of the Day
Investors continue to cheer the Budget 2021, as the benchmark domestic stocks rallied around two and a half per cent on Tuesday, February 2, 2021. The Sensex gained 1,197 points, or 2.46 per cent, up at 49,798. The NSE Nifty also jumped 367 points, or 2.57 per cent, to trade at 14,648. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, February 3, 2021. List of such five stocks:
Tata Consumer Products: The company on Tuesday reported a 28.6% year-on-year rise in the consolidated profit at Rs 237.4 crore for the quarter ended December 31, 2020. It had reported a net profit of Rs 184.6 crore in the same quarter a year-ago period. Consolidated revenue from operations rose 23.1% to Rs 3,069.6 crore as against Rs 2,493 crore reported in December 2019. EBITDA stood at Rs 361.3 crore, up 13.6%, from Rs 318.1 crore reported last year.
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The margin contracted to 11.8% in Q3FY21 against 12.8% reported in Q3FY20. Besides, Tata Consumer Products on Tuesday said it will acquire Bengaluru-based Kottaram Agro Foods for Rs 155.8 crore to expand its product portfolio. Kottaram Agro Foods (KAF) is primarily engaged in the business of healthy breakfast cereals and millet-based snacks under the trademark Soulfull.
Ajanta Pharma + Neuland Laboratories
Ajanta Pharma: Drug firm Ajanta Pharma on Tuesday reported a 64.2% year-on-year rise in the consolidated profit at Rs 178.6 crore for the quarter ended December 31, 2020, mainly on account of robust sales. The company had posted a net profit of Rs 107.6 crore for the corresponding period of the previous fiscal. Consolidated revenue from operations of the company stood at Rs 748.7 crore for the quarter under consideration. It was Rs 651.2 crore for the same period a year ago. EBITDA stood at Rs 241.7 crore, up 30%, from Rs 186 crore. The margin grew to 19% in Q3FY21 from 13.8% posted in Q3FY20. The company in a statement said, the cardiology segment grew 13%, while the pain management segment and dermatology segment grew by 14% and 3% respectively.
Neuland Laboratories: The pharmaceutical company has reported a 142.7% year-on-year rise in the consolidated profit at Rs 26.7 crore for the quarter ended December 31, 2020. It had reported a net profit of Rs 11 crore in the same quarter last year. Revenue from operations grew 20.4% to Rs 245.4 crore against Rs 20.3.8 crore reported earlier last year. EBITDA stood at Rs 42.2 crore, up 88.4%, from Rs 22.4 crore posted last year. The margin advanced to 26.7% in Q3FY21 from 11% posted in Q3FY20.
PI Industries + Ion Exchange + Dhampur Sugar Mills
PI Industries: The fast-growing agri-sciences company PI Industries on Tuesday reported a 61.4% year-on-year rise in consolidated profit at Rs 195.4 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 121.1 crore in the same quarter last year. Revenue from operations grew 36.7% to Rs 1,162 crore in the quarter under observation over Rs 850 crore posted in the year-ago period. EBITDA stood at Rs 269 crore, up 47%, from Rs 183 crore posted in December 2019 quarter. The margin grew to 23.1% in Q3FY21 from 21.5% reported in Q3FY20. The company has declared an interim dividend of Rs 1 per share. The record date is February 12, 2021.
Ion Exchange (India) Ltd.: The company on Tuesday reported an 11.5% year-on-year rise in consolidated profit at Rs 29 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 26 crore in the same period last year. Revenue from operations fell 12.3% to Rs 349.1 crore in the reported period against Rs 398 crore reported last year. EBITDA stood at Rs 41.6 crore, up 18.9%, from Rs 35 crore. The margin grew to 11.9% in Q3FY21 from 8.8% reported in Q3FY20.
Dhampur Sugar Mills: Sugarcane mills company Dhampur Sugar on Tuesday reported a 7.5% year-on-year rise in consolidated profit at Rs 54.8 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 51 crore in the same quarter last year. Revenue from operations grew 35.2% to Rs 1,109 crore from Rs 820 crore posted last year. EBITDA stood at Rs 99 crore, up 39.4%, from Rs 71 crore posted last year. The margin remained almost flat at 8.9% in Q3FY21 against 8.7% posted in Q3FY20. Besides, the board has declared an interim dividend of Rs 6 per equity share.
Home First Finance Company + Brookfield India Real Estate Trust IPO + Block Deals
Home First Finance Company: The shares of the company will be listed on bourses today. The technology-driven affordable housing finance player likely to fetch at least 25 per cent premium when its debut.
Brookfield India Real Estate Trust IPO: The Rs 3,800 crore initial public offering (IPO) of Brookfield India Real Estate Trust will open today for subscription. The public issue will close on February 5, 2021. The Canadian asset manager Brookfield Asset Management backed company has fixed the price band of the IPO at Rs 274-275 per unit. The shares are likely to be listed on the BSE and NSE on February 17, 2021. Investors can bid for a minimum 200 units and in multiples of 200 units thereafter. The company will use the funds to repay debts. Besides, the company has already raised Rs 1,710 crore from 39 anchor investors on Tuesday, ahead of the opening of its initial public offer (IPO). BNP Paribas, Morgan Stanley, HDFC Trustee, SBI Life Insurance were among the anchor investors that participated in the anchor book. Brookfield's offering is the third REIT IPO after Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.
Block Deals: Indigo Paints + PVR
Indigo Paints: After a bumper listing on the stock exchanges, the company saw block deals. Abu Dhabi Investment Authority bought 6.41 lakh shares at Rs 2,730 per share. Nomura India Investment Fund bought 5.31 lakh shares at Rs 2,601 per share. India Acorn ICAV bought 5.38 lakh shares at Rs 2,719.8 per share. Edelweiss Finance and Investments sold 3.50 lakh shares at Rs 2,613 per share.
PVR: Societe Generale bought 10.01 lakh shares (1.82%) at Rs 1,519.52 per share. Multiples Private Equity Fund sold 3.01 lakh shares (0.55%) at Rs 1,517.54 per share. Multiples Private Equity Fund I sold 8.78 lakh shares (1.59%) at Rs 1,517.91 per share.
Bharti Airtel: The telco is scheduled to declare its December quarter numbers today. Analysts at Zee Business in their estimate said, the company will post a net profit of Rs 40 crore against a loss of Rs 763 crore reported in the corresponding quarter last year. They in their estimation said the company's revenue is likely to increase by 3.7% year-on-year to Rs 26,740 crore against Rs 25,785 crore posted last year. EBITDA will grow by 3.8% to Rs 12,300 crore against Rs 11,848 crore.
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