Stocks in Focus on July 19: Tatva Chintan IPO, Clean Science, HDFC Bank, LIC Housing to Tata Power; here are the 5 Newsmakers of the Day

After oscillating between gains and losses across the day, the domestic benchmarks ended almost flat on Friday, July 16, 2021. The S&P BSE Sensex slipped 18.79 points or 0.04 per cent to 53,140.06. The Nifty 50 index lost 0.80 points or 0.01 per cent to 15,923.40. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Monday, July 19, 2021. List of such five stocks:

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2 Listings + 2 IPO Update 

GR Infrastructure: The road sector developer will debut on the bourses today. The issue price of the IPO was Rs 837 per share and it was subscribed 102.6 times.

Clean Science: The shares of specialty chemical company will debut on the bourses today. The issue price for the IPO was Rs 900 per share and it was subscribed 93.41 times.
Zomato IPO: The initial public offering of the online food delivery platform Zomato was subscribed 38.25 times on the last day of subscription. The retail portion was subscribed 7.5 times, while the NII and QIB portions were subscribed 33 times and 52 times, respectively. The price band of Zomato IPO was fixed at Rs 72-76 per share. The company aims to raise Rs 9,375 crore through the offer. The IPO comprised of a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge (India). Post-IPO, the valuation of Zomato will be Rs 59,600 crore.

Tatva Chintan Pharma IPO: Specialty chemicals manufacturing company Tatva Chintan Pharma Chem’s Initial Public Offering was subscribed 4.51 times on Friday, the first day of subscription. The QIB portion was subscribed 0.5 times, while the NII and Retail portions were subscribed 0.38 times and 4.47 times, respectively. The public issue will end on Tuesday, July 20, 2021. The company has fixed a price band at Rs 1,073-Rs 1,083 per equity share. Investors can put in bids for a minimum of 13 equity shares, in a single lot, and in multiples of 13 equity shares thereafter. The company is planning to raise Rs 500 crore through the offer. It comprises a fresh issue of Rs 225 crore and an offer for sale of up to Rs 275 crore by existing selling shareholders.  

HDFC Bank + L&T Finance

HDFC Bank: The private sector lender has reported a 16% YoY rise in the profit at Rs 7,729 crore for the quarter ended June 30, 2021 (Q1FY22). It had posted a profit of Rs 6,658 crore in the corresponding quarter of the previous financial year. Net Interest Income (NII) grew 8.5% YoY to Rs 17,008 crore in the reported quarter compared to Rs 15,670 crore posted last year. The bank said it made provisions worth Rs 4,830.80 crore for the quarter compared with Rs 3,891.5 crore in the year-ago quarter and Rs 4,693.7 crore in the March quarter. Gross non-performing asset (NPA) came in at 1.47% compared with 1.32% in the March quarter. The net non-performing asset (NPA) came at 0.48% compared with 0.40% posted in the March quarter. It also said, the bad loan write-off doubled to Rs 3,100 crore in Q1FY22. It offloaded an NPA of Rs 1,800 crore to maintain its asset quality. Slippages were elevated because of poor collection and recovery and the bank expects to have better recoveries in Q2FY22.

L&T Finance: The company offering a focused range of financial products and services has reported a 20% rise in the net profit at Rs 177 crore for the quarter ended June 30, 2021 (Q1FY22). It had posted a profit of Rs 148 crore in the corresponding quarter of the previous financial year (Q1FY21). The non-banking financial company’s revenue declined 7% YoY to Rs 3,140 crore compared to Rs 3,387 crore posted last year. Gross NPA came in at 5.75% in Q1FY22 compared with 4.97% posted in Q4FY21. The Net NPA came at 2.07% compared with 1.57% posted in the March quarter.

Just Dial/Reliance: Reliance Retail Ventures Limited has announced the acquisition of a controlling stake in Just Dial Limited for a total consideration of Rs 3,497 crores. Reliance Retail Ventures Limited to hold 40.95% and would make an open offer to acquire up to 26.0% in accordance with takeover Regulations. Reliance executed definitive agreements for preferential allotment of 2.12 crore equity shares (equivalent to 25.33% post preferential share capital) at price per share of Rs 1,022.25. It acquired 1.31 crore equity shares from VSS Mani (equivalent to 15.62% post preferential share capital) at a price per share of Rs 1,020.00. VSS Mani shall continue as Managing Director and Chief Executive Officer to lead Just Dial through the next phase of growth. Besides, Just Dial also announced its June quarter numbers and reported a loss of Rs 3.5 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 83 crore in the corresponding quarter of the previous financial year. Revenue from operations grew 1.9% YoY to Rs 165 crore compared to Rs 162 crore posted last year. It reported an EBITDA loss of Rs 17 crore for the period compared with an EBITDA profit of Rs 83 crore posted last year. Other income fell 70% YoY to Rs 23 crore compared to Rs 77 crore posted last year. Other expenses grew 4 times to Rs 70 crore compared to Rs 17 crore posted last year.  

LIC Housing + BBQ Nation

LIC Housing Finance: The Extra Ordinary Meeting (EGM) of the mortgage loan company is scheduled to be held today. LIC Housing Finance Limited has been denied permission to release the results of the voting on agenda at the upcoming Extra-Ordinary General Meeting (EGM). The matter is related to the preferential Issue of 4, 54, 00,000 equity shares to Life Insurance Corporation of India (LIC) at the upcoming EGM of the members of LIC Housing Finance Limited (The Company) on July 19, 2021. The exchanges—BSE and NSE — are investigating fulfilling conditions related to Article of Association. However, the company has claimed that it has followed the Article of Association and Securities Exchange Board of India (SEBI) rules in the letter and spirit in the matter concerned. Earlier, Zee Business in its exclusive report had informed that exchanges are investigating the matter. In the EGM on Monday, July 19, LIC Housing Finance Limited parent LIC has planned to generate Rs 2334 crore through preferential allotment. 

BBQ Nation: The Extra Ordinary Meeting (EGM) of the company is scheduled to be held today. The leading casual dining chain in India has been denied to release the results of the voting on the agenda of the EGNM. The exchanges—BSE and NSE — are investigating fulfilling conditions related to Article of Association. The results will be released after the enquiry is completed. The Company had provided the clarification that as per Article 3.3.1(c) the valuation requirement is “subject to the Rules”. Since the Companies (Registered Valuers and Valuation) Rules, 2017 do not apply to a listed company, Article 3.3.1(c) does not apply in relation to the proposed issue of preference shares by the Company. Therefore, there is no requirement to obtain a valuation report from a registered valuer and the price for the proposed preferential allotment has been computed in accordance with SEBI ICDR Regulations, 2018, as certified by a chartered accountant report previously submitted to you.

Tata Power: Tata Power joins hands with HPCL to set up EV charging stations at its Petrol Pumps across the country.