Stocks in Focus on June 2: ITC, Gujarat Gas, Hero MotoCorp, JSW Steel to Infosys; here are the 5 Newsmakers of the Day

The domestic equity markets on Tuesday, June 1, 2021, ended flat taking a breather near their Monday closing. The domestic stocks remained almost unchanged even as the global cues were positive. The S&P BSE Sensex slipped three points to close at 51,935. The Nifty at the National Stock Exchange also fell eight points but remained above the 15,500 level to settle at 15,575. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Wednesday, June 2, 2021. List of such five stocks:

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ITC: The company on Tuesday reported a 1.3% YoY decline in the consolidated profit at Rs 3,748.4 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 3,797.1 crore in the corresponding quarter of the previous financial year. Consolidated revenues grew 22.6% to Rs 13,294.7 crore compared to Rs 10,842.3 crore posted last year. The EBITDA grew 7.4% to Rs 4,473 crore compared to Rs 4,163.5 crore posted last year. The EBITDA margins contracted to 33.6% in Q4FY21 compared to 38.4% posted in Q4FY20. Besides, the board has recommended a dividend of Rs 5.75 per share and fixed June 11, 2021, as the record date for the purpose.

Segmental Performance  

Cigarette  

Revenues up 14.2% to Rs 5859.6 crore v/s Rs 5130.5 crore Estimated Growth of 16%  

EBIT Up 7.7% to Rs 3666.5 crore v/s Rs 3403 crore Estimated growth of 10%  

EBIT Margins down to 62.6% v/s 66.3%  

FMCG  

Revenues up 15.8% to Rs 3687.5 crore v/s Rs 3183.6 crore Estimated growth 14%  

EBIT up 28.4% to Rs 188.6 crore v/s Rs 147 crore

Margins Up to 5.1% v/s 4.6%  

Hotel  

Revenues down 38.2% to Rs 287.8 crore v/s Rs 465.8 crore Estimated Down 40%  

EBIT loss of Rs 40.1 crore v/s profit of Rs 42.6 crore

Agri  

Revenues up 3368.9 crore v/s Rs 1887.3 crore Estimated Growth of 40%  

EBIT Up 54.2% to Rs 189.9 crore v/s Rs 123.1 crore 

EBIT Margins down to 5.6% v/s 6.5%  

Paper Business  

Revenues up 13.5% to Rs 1655.9 crore v/s Rs 1458.9 crore Estimated Growth of 2%  

EBIT Up 13.1% to Rs 323.2 crore v/s Rs 285.7 crore

EBIT Margins down to 19.5% v/s 19.6%

Gujarat Gas: The City Gas Distribution company has reported a 10.5% QoQ decline in the consolidated profit at Rs 350.9 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 392.3 crore in the previous quarter ended December 31, 2020. Consolidated revenue grew 21.2% to Rs 3,428.9 crore compared to Rs 2,829.4 crore posted in the previous quarter. EBITDA fell 9.9% to Rs 554.2 crore compared to Rs 614.8 crore posted in the December quarter. EBITDA margins contracted to 16.2% in Q4FY21 compared to 21.7% posted in Q3FY21. The board has recommended a dividend of Rs 2 per share. The company has said that CNG and industrial volumes grew 11% QoQ and 5% QoQ, respectively. Besides, the board has also approved the acquisition/transfer of the City Gas Distribution business for Amritsar and Bhatinda Geographical Area ('CGD Business') on a Slump Sale basis from Gujarat State Petronet Limited ('GSPL') for an aggregate cash consideration of Rs. 163.31 crore, without values being assigned to individual assets. GSPL is the promoter of Gujarat Gas. 

Hero MotoCorp + Eicher 

Hero MotoCorp: India’s largest two-wheeler company reported an MoM decline in total sales in May 2021. It sold 1,83,044 units in May 2021 compared to 3,72,285 units sold in April 2021. The company halted operations at all of its manufacturing facilities across the country on April 22, 2021. 3 plants started single-shift operations on May 17, 2021, followed by the other 3 plants on May 24, 2021.  
Eicher Motors (Royal Enfield): The company has reported an MoM decline in sales in May 2021. It sold 27,294 units in May 2021 compared to 53,298 units sold in April 2021. 

NMDC + JSW Steel

NMDC: The iron ore company on Monday reported the details of the production and sale of iron ore for and up to May 2021. It produced 2.79 MT of iron ore in May 2021 compared to 2.29 MT produced in May 2020. Sales grew to 3.30 MT in May 2021 compared to 2.55 MT sold in May 2020. 
JSW Steel: The company has increased the price of HRC by Rs 3,150 per ton and CRC by Rs 4,900 per ton, sources. Supply tightness due to higher export orders has resulted in a steep hike in prices, 

Infosys: Market regulator SEBI on Tuesday barred two employees of Infosys along with six others from trading in the stock market on insider trading allegations. In a statement on Tuesday, Infosys said it will initiate an internal investigation into the insider trading matter.