Stocks in Focus on July 28: IndusInd Bank, Torrent Pharma, InterGlobe, Rollex Rings IPO to Glenmark Life IPO; here are the 5 Newsmakers of the Day

Domestic equity markets ended with losses of around half a per cent after a volatile session on Tuesday, July 27, 2021. The S&P BSE Sensex declined 273.51 points or 0.52 per cent to close at 52,578.76. The Nifty 50 index lost 78 points or 0.49 per cent to settle at 15,746.45. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, July 28, 2021. List of 5 such stocks:

IndusInd Bank + Karnataka Bank 

IndusInd Bank: The private lender has reported a 99% QoQ rise in the consolidated profit at Rs 1,016 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 510 crore in the corresponding quarter of the previous financial year. The net interest income (NII) grew 7.7% to Rs 3,564 crore in the reported quarter as against Rs 3,309 crore posted last year. Provisions in the quarter slumped 18% to Rs 1,844 crore against Rs 2,259 crore posted last year. The gross non-performing assets ratio climbed to 2.88% from 2.67% posted in the previous quarter. Similarly, the net NPA ratio rose to 0.84% from 0.69% reported in the previous quarter. The MD & CEO Sumant Kathpalia said that the bank has set an ambitious target of 16 per cent to 18 per cent credit growth this fiscal expecting a recovery in the bank's core areas. He said, the collection efficiency fell in May but quickly picked up in June and July. The lender has strengthened its balance sheet by increasing the provision coverage ratio (PCR) to 72% in June 2021. Advances grew 6% YoY. 

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Karnataka Bank: Private sector Karnataka Bank has reported a 45.9% YoY decline in the profit at Rs 106 crore for the quarter ended June 30, 2021, as compared to Rs 196 crore posted in the corresponding quarter of the previous financial year. The Net Interest Income (NII) grew 7.5% YoY to Rs 575 crore as compared to Rs 535 crore posted last year. Provisions in the quarter slumped 27.7% YoY to Rs 368 crore against Rs 509 crore posted last year. Sequentially, the provisions grew 7.6% from Rs 342 crore posted in the previous quarter ended March 31, 2021. The gross non-performing assets ratio fell to 4.82% in Q1FY22 from 4.91% reported in the previous quarter. The net NPA declined to 3% in the reported quarter from 3.18% posted in the previous quarter.

Torrent Pharma + Granules India + Aarti Drugs

Torrent pharma: Drug firm Torrent Pharmaceuticals has reported a 3% YoY rise in the profit at Rs 330 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 321 crore in the corresponding quarter of the previous financial year. Revenue from operations grew 4% YoY to Rs 2,134 crore compared to Rs 2,056 crore posted last year. The EBITDA grew 2.4% YoY to Rs 677 crore compared to Rs 661 crore. The margin stood at 31.7% in Q1FY22 compared to 32% posted in Q1FY21. The company said, India sales grew up 18%, while Us sales dropped by 29%. 

Granules: Drug firm Granules India has reported an 8% YoY rise in the consolidated profit at Rs 120 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 111 crore in the corresponding quarter of the previous financial year. The revenue from operations grew 16% YoY to Rs 850 crore compared to Rs 736 crore posted last year. The EBITDA grew 10% to Rs 201 crore compared to Rs 183 crore posted last year. The margin dropped to 24% in Q1FY22 from 25% posted in Q1FY21. The company in a release said, Pharmaceutical Formulation Intermediates (PFI) segment grew 25%, while Active Pharmaceuticals Ingredients (APIs) grew 5% and Finished Dosages (FDs) grew 18%. 

Aarti Drugs: The pharmaceutical company has reported a 43% YoY decline in the consolidated profit at Rs 48.8 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 85.45 crore in the corresponding quarter of the previous financial year. Sequentially, the profit dropped 6% from Rs 51.6 crore posted in the previous quarter ended March 31, 2021. Consolidated revenue from operations grew 6.5% YoY to Rs 580 crore in the reported quarter as against Rs 545 crore posted last year. Sequentially, the revenue grew 15% from Rs 502 crore posted in the previous quarter. The EBITDA dropped 40% YoY to Rs 79.7 crore as against Rs 134 crore posted last year. Sequentially, the EBITDA dropped 1.2% from Rs 81 crore posted in the previous quarter. The company has reported a margin of 13.7% in Q1FY22 as against 24.5% posted in Q1FY21 and 16% posted in Q4FY21. Segment-wise details: 

- API: 3.9% YoY; 13.8% QoQ 

- Formulation: 6.7% YoY, 40.1% QoQ 

- Specialty Chemicals: 38.9% YoY, (1.7)% QoQ 

InterGlobe + Dalia Bharat + IIFL Finance 

InterGlobe Aviation: Interglobe Aviation, the company that flies the airline IndiGo, has reported a loss of Rs 3,174 crore for the quarter ended June 30, 2021. It had posted a loss of Rs 1,157.5 crore in the previous quarter ended March 31, 2021. Revenue from operations declined 51% QOQ to Rs 3,006 crore as compared to Rs 6,222.9 crore. EBITDAR Loss stood at Rs 1,360 crore in the reported quarter as against EBITDAR profit of Rs 651.6 crore posted in the previous quarter. 

Dalmia Bharat: The company has reported a 19% YoY rise in the consolidated profit at Rs 227 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 190 crore in the corresponding quarter of the previous financial year. Sales on the consolidated basis grew 36% to Rs 2,589 crore compared to Rs 1,901 crore posted last year. EBITDA grew 30% to Rs 2,575 crore compared to Rs 1,974 crore posted last year. The margin dropped to 99% in Q1FY22 from 103.8% posted in Q1FY21. 

IIFL Finance: Financial services company has reported a 550% YoY rise in the consolidated profit at Rs 104 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 16 crore in the corresponding quarter of the previous financial year. Sales on a consolidated basis grew 11% to Rs 816 crore in the reported quarter as compared to Rs 732 crore posted last year. The EBITDA grew 31.5% YoY to Rs 563 crore as compared to Rs 428 crore posted last year. The margins improved to 68.9% in Q1FY22 as against 58% posted in Q1FY21. 

Rollex Rings + Glenmark Life + HUDCO

Rollex Rings: The Initial Public Offering (IPO) of Rollex Rings will hit the market today and close on July 30, 2021. The company has set the price band for the issue in Rs 880-900 range. The company seeks to raise Rs 731 crore through the public issue. On the block is a fresh issue of shares aggregating up to Rs 56 crore and an offer for sale of up to 7,500,000 shares worth Rs 675 crore. Investors can bid for a minimum of 16 equity shares and in multiples of 16 thereafter. Besides, Rolex Rings, one of the top five forging companies in India, has raised Rs 219 crore from 26 anchor investors on July 27, ahead of IPO opening. The company has allocated 24.4 lakh shares to anchor investors at Rs 900 per share. The anchor investors include HDFC Fund 10%, ICICI Prudential Fund 10%, SBI Fund 10%, Axis Mutual Fund 9.13% and Aditya Birla Sun Life 9.1%, among others. 

Glenmark Life Sciences IPO: The initial public offer (IPO) of Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, was subscribed 2.78 times on the first day of subscription. The NII portion of the public offering was subscribed 0.86 times and the retail portion was subscribed 5.17 times, while the QIB are yet to bid for the issue. The issue will close on July 29, 2021. The company seeks to raise up to Rs 1,513.6 crore from the primary market investors. The price band of the offer has been fixed at Rs 695-720 per share and investors can bid for a minimum of 20 equity shares, in a single lot, and in multiples of 20 equity shares thereafter. The initial public offer (IPO) will have a fresh issue of equity shares worth up to Rs 1,060 crore and the sale of up to 63 lakh equity shares by Glenmark Pharma. 

HUDCO: The non-retail portion of the offer for sale of Housing and Urban Development Corporation (HUDCO) Limited was subscribed 1.96 times on the first day. The OFS will open for retail investors today. The government is seeking to sell around 11.01 crore shares (5.5% equity) in the Housing and Urban Development Corporation (HUDCO) Limited through an offer for sale (OFS) at a floor price of Rs 45 per share. It has kept an over-subscription of 2.5% stakes or over 5 crore shares. So, the government seeks to offload an 8% stake (over 16 crore equity shares) in HUDCO, which could help it garner Rs 720 crore for its disinvestment kitty. 

Matrimony + Punjab Alkalies

Matrimony.com: SBI Mutual Fund sold a 1.85% stake (4.25 lakh shares) in the company via an open market transaction, reducing shareholding to 3.22% from 5.08% earlier.
Punjab Alkalies: Plutus Wealth Management LLP bought 2.5 lakh shares at 114 per share.