Stocks in Focus on February 5: Hero MotoCorp, Tata Power, CONCOR, Brookfield REIT IPO to Stove Kraft; here are the 5 Newsmakers of the Day

The stock markets continued to rise for the fourth straight day, as the euphoria surrounding the Union Budget continued trading session on Thursday, February 4, 2021. The Sensex at the Bombay Stock Exchange climbed 359 points, or 0.71 per cent, to another record high of 50,614. The Nifty at the National Stock Exchange advanced 106 points, or 0.71 per cent, to a fresh all-time high of 14,896. Both the indices attained record closing high levels. The indices have surged about 9.3% in four consecutive sessions. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, February 5, 2021. List of such five stocks:

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Hero MotoCorp + Munjal Showa

Hero MotoCorp Ltd: Country’s largest two-wheeler manufacturer on Thursday reported a 23.2% year-on-year increase in net profit to Rs 1,084 crore for the quarter ending December 31, 2020. It had reported a net profit of Rs 880 crore in the corresponding quarter last year. Revenue from operation grew 39.7% to Rs 9,776 crore against Rs 6,997 crore posted last year. EBITDA stood at Rs 1,414 crore, up 36.1%, from Rs 1,039 crore. The margin remained almost flat at 14.5% in Q3FY21 against 14.8% posted in Q3FY20. The company in a statement has said that it has recorded highest ever revenue for any quarter The Board of Directors has declared an aggregate dividend of Rs 70 per share (Interim dividend of Rs. 65 per equity share and a special interim dividend of Rs 5 per equity share). It added, input costs to remain under pressure due to the rising prices of commodities and fuel. The company will continue to focus on driving cost savings and take judicious price increases.

Munjal Showa: The company has reported a 246.9% year-on-year rise in the consolidated profit at Rs 17 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 4.9 crore in the same quarter last year. Sales grew 16.7% to Rs 348 crore from Rs 298 crore. EBITDA stood at Rs 18 crore, up 200% from Rs 6 crore. The margin grew to 5% in Q3FY21 from 2% reported in Q3FY20. 

Tata Power + CONCOR

Tata Power: The electric power distribution company on Thursday reported a 28.4% year-on-year rise in the consolidated profit at Rs 248.2 crore for the quarter ended December 31, 2020. It had reported a net profit of Rs 193.3 crore in the corresponding year last year. Revenue from operations grew 7.5% to Rs 7,598 crore in the reported quarter against Rs 7,071 crore posted last year. EBITDA stood at Rs 1,749.6 crore, down 3%, from Rs 1,805 crore. Margins fell to 23% in Q3FY21 from 25.5% reported in Q3FY20. The company in a statement said, higher expenses hurt EBITDA and margins. Lower finance cost and rise in other income boost profit. Power generation revenue dips and there was a growth in renewables and T&D Revenue. It added, the company has repaid Mundra loans worth Rs 4,150 crore after which the debt is down to Rs 3,790 crore. Net Debt is down to 17% to Rs 36,363 crore (YoY).

CONCOR: The state-owned company on Thursday reported a 35.6% year-on-year rise in profits at Rs 237.9 crore for the quarter ended December 31, 2020. It had reported a net profit of Rs 175.5 crore in the corresponding quarter last year. Revenue from operations grew 14.8% to Rs 1,753.8 crore in the reported quarter against Rs 1,527.6 crore posted last year. EBITDA remained almost flat at Rs 371.9 crore against Rs 371.7 crore posted last year. Margins contracted to 21.2% in Q3FY21 from 24.3% reported in Q3FY20. The company in a statement said, higher other income, deferred tax gain has boosted the profit.  

Godrej Agrovet + GNFC + Dalmia Bharat 

Godrej Agrovet: The agribusiness company has reported a 33.3% year-on-year rise in consolidated profit at Rs 68 crore for the quarter ended December 31, 2020. It had posted a net profit of Rs 51 crore in the corresponding quarter last year. Sales fell 14% to Rs 1,526 crore in the reported quarter from Rs 1,783 crore posted in Q3FY20. EBITDA stood at Rs 112 crore, up 10.8%, from Rs 101 crore. The margin grew to 7% in Q3FY21 from 5.6% posted in Q3FY20. 

GNFC Ltd: The company has reported a 114% year-on-year rise in consolidated profit at Rs 240 crore for the quarter ended December 31, 2020. It had reported a net profit of Rs 112 crore in the same quarter last year. Consolidated revenue grew 17.9% to Rs 1,508 crore from Rs 1,278 crore. EBITDA stood at Rs 362.6 crore, up 117% from Rs 166.9 crore. The margin grew to 24% in Q3FY21 from 13% reported in Q3FY20.

Dalmia Bharat: Cement maker Dalmia Bharat Ltd reported a 603.8% year-on-year jump in consolidated profit after tax at Rs 183 crore during the quarter ended December 31, 2020, as against a profit of Rs 26 crore reported during the same period last year mainly on account of better sales volume. Sales grew 18% to Rs 2,857 crore against Rs 2,418 crore posted last year. EBITDA stood at Rs 365.5 crore, up 623.7%, from Rs 50.5 crore posted in Q3FY20. The margin advanced to 12.7% in Q3FY21 from 2.08% reported in Q3FY20.

Brookfield REIT IPO + Stove Kraft listing

Brookfield REIT IPO Update: The Rs 3,800 crore initial public offering (IPO) of Brookfield India Real Estate Trust (REIT) was subscribed 77% on the second day of subscription, i.e. on February 4, 2021. The QIB quota was subscribed 53% and the NII portion saw a 96% subscription. Today is the last day for the subscription of the public issue. The company has fixed a price band of Rs 274-275 per equity share. Investors can bid for a minimum 200 units and in multiples of 200 units thereafter, hence, the minimum application size by retail investors would be Rs 55,000 at higher price band.

Stove Kraft: The shares of kitchen appliance maker Stove Kraft will make their debut on the stock exchanges, NSE and BSE, today. The company's Rs 413 crore initial public offer (IPO), which was open for subscription from January 25-28, was subscribed 18 times. The price band for the offer was fixed at Rs 384-385 per share.

Circuit filter Revision: The National Stock Exchange has revised circuit limits. The circuit limit of companies like Yes Bank, GM Breweries, Indo Count, IG Petro and On Mobile Global among others has been raised to 20% from 5%. The circuit limit of Shipping Corporation of India and Wockhardt among others have been revised to 20% from 10%.