Stocks in Focus on June 10: Bata, Reliance Industries, Adani Enterprises to Accelya Solutions; here are the 5 Newsmakers of the Day
Equity indices ended a volatile session with steep losses on Wednesday, June 9, 2021, led by weakness in banks and auto shares.
Equity indices ended a volatile session with steep losses on Wednesday, June 9, 2021, led by weakness in banks and auto shares. The S&P BSE Sensex slipped 333.93 points or 0.64% at 51,941.64. The Nifty 50 index lost 104.75 points or 0.67% to close at 15,635.35. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Thursday, June 10, 2021. List of such five stocks:
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Bata: Footwear retail company has reported a 23.2% YoY drop in the consolidated profit at Rs 29.5 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 28.4 crore in the corresponding quarter of the previous financial year. Consolidated revenue from operations fell 4.9% YoY to Rs 590 crore compared to Rs 620.5 crore posted last year. EBITDA dropped 19.7% to Rs 112.1 crore compared to Rs 139.6 crore posted last year. Margins dropped to 19% in Q4FY21 compared to 22.5% posted in Q4FY20. The board has recommended a dividend of Rs 4 per share. Bata in a statement said, Company opened 10 new franchise stores and appointed new distributors to serve multi-brand stores. The company remains hopeful that with the roll-out of vaccines for everyone above 18 years, the business would start growing back. Mr. R. K. Gupta to retire from the post of Director Finance and CFO on June 30, 2021, and Ms. Vidhya Srinivasan would replace him as Director Finance and CFO.
Reliance Industries: It has raised Rs 13,281 crore through the first call of the partly paid-up equity shares. Besides, it informed that Fluidized Catalytic Cracker Unit (FCCU) in its SEZ refinery at Jamnagar had to be taken for an emergency shutdown on June 6, 2021. All other units at the Jamnagar Refining complex are operating normally. Consequently, some product shipments may get delayed and we are working to minimize the impact on our customers. The FCCU unit is being repaired on top priority and is expected to be restarted expeditiously.
Adani Enterprises: Adani Group has started a discussion to separate its airport business from the holding entity Adani Enterprises, reports. It has plans to bring an IPO of Adani Airports Holdings. It is expected to raise up to $50 crore (approx Rs 3,650 crore) through a private placement of shares in Adani Airports Holdings. It is targeting a valuation of Rs 25,o00-29,000 crore for the business. Besides, it also preparing to raise up to Rs 7,000-7,500 crore through an IPO by Adani Wilmer. It can have a valuation of around Rs 58,000-65,000 crore. Adani Wilmar is a joint venture between the Adani Group and Singapore-based Wilmar.
Accelya Solutions: Accelya Group Bidco Limited, promoter of the company, proposed to sell up to 21.82 lakh equity shares through an offer for sales (OFS). The floor price for the offer shall be Rs 910 per share. The OFS will open for non-retail investors today and tomorrow for retail investors.
Bulk Deals
Crompton Greaves Electrical: Amalfiaco (Advent) sold 3.36 crore shares at 400.40/share. SBI Mutual Fund bought 1.24 crore shares. SBI Life bought 18.7 lakh shares. HDFC Standard Life bought 14.8 Lakh shares. ICICI Prudential bought 24.97 lakh shares. Mirae Asset MF bought 30 lakh shares. Ashok India Opportunity fund bought 35 lakh shares at 400.4/share.
Den Networks: ICICI Bank sold 42 lakh shares at 57.34 /share.
Dhanuka Agritech: Promoter Pushpa Dhanuka Trust Sold 3.62 lakh shares at 861.1/share. Promoter Triveni Trust Sold 19.6 lakh shares at 853/share. The Government of Singapore bought 15.98 lakh shares at 853/share. Monetary Authority of Singapore bought 3.56 lakh shares at 853/share.
Ion Exchange Ltd: Franklin Templeton Mutual Fund bought 1.2 lakh shares at 1984.5/share.
Nazara Technologies Ltd: IIFL Special Opportunities fund Sold 1.77 lakh shares at 1642/share. Norges Bank Government Pension Fund bought 5.85 lakh shares 1642/share.
TVS Motor: ICICI Prudential Acquired 97.2 Lakh shares and with this total holding increased from 7.2% to
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