Stocks in Focus on June 9: Petronet LNG, Max Financial, Galaxy Surfactants, Religare Enterprises to Private Hospitals Stocks; here are the 5 Newsmakers of the Day
Sensex and Nifty on Tuesday ended marginally down amid negative cues from the Asian equity markets. The S&P BSE Sensex slipped 53 points, or 0.10 per cent, to finish at 52,276. Nifty 50 index also fell 12 points, or 0.07 per cent, to close at 15,740. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Wednesday
The Sensex and the Nifty on Tuesday, June 8, 2021, ended marginally down amid negative cues from the Asian equity markets. The S&P BSE Sensex slipped 53 points, or 0.10 per cent, to finish at 52,276. The Nifty 50 index also fell 12 points, or 0.07 per cent, to close at 15,740. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Wednesday, June 9, 2021. List of such five stocks:
Petronet LNG + Max Financial Services
Petronet LNG: The state-owned company has reported a 29% QoQ decline in the standalone profit at Rs 623.4 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 878.5 crore in the corresponding quarter of the precisions financial year. Revenues from operations grew 3.4% to Rs 7,575.3 crore in the reported quarter compared to Rs 7,328.2 crore posted last year. The EBITDA fell 18.3% to Rs 1,091.1 crore compared to Rs 1,225.3 crore posted last year. The EBITDA margin contracted 14.4% in Q4FY21 compared to 18.2% posted in Q4FY20. Board recommended a dividend of Rs 3.5 per share for FY21.
Max Financial Services: The life insurance company has reported 10.4 times YoY jump in the consolidated profit at Rs 70 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 6.7 crore in the corresponding quarter of the previous financial year. Consolidated revenue from operations grew 2.3 times YoY to Rs 9,760 crore compared to Rs 4,217 crore posted last year.
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Galaxy Surfactants + ION Exchange + Engineers India Limited
Galaxy Surfactants: (NAKK stock). The chemical manufacturing company has reported a 25% YoY rise in the consolidated profit at Rs 79 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 63 crore in the corresponding quarter of the last financial year. The sales grew 19% to Rs 784 crore in the reported quarter compared to Rs 657 crore posted last year. The EBITDA grew 14.5% YoY to Rs 118 crore compared to Rs 103 crore posted last year. Margins fell marginally to 15% in Q4FY21 compared to a margin of 15.6% posted in Q4FY20. The board has recommended a final dividend of Rs 4 per equity share.
Ion Exchange: (NAKK stock). The water supply company has reported a 141% YoY rise in the consolidated profit at Rs 70 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 29 crore in the corresponding quarter of the last financial year. Sales grew 26.7% YoY to Rs 445 crore compared to Rs 351 crore posted last year. EBITDA grew 120.5% to Rs 86 crore compared to Rs 39 crore posted last year. The margins improved to 19% in Q4FY21 compared to 11% posted in Q4FY20. The board has announced a final dividend of Rs 10 per equity share for FY21.
Engineers India Limited: (NAKK stock). The state-owned engineering services company has reported a 79% YoY decline in the consolidated profit at Rs 25 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 120 crore in the corresponding quarter ended March 31, 2020. The sales grew 31% YoY to Rs 1,132 crore compared to Rs 864 crore posted last year. EBITDA grew 50.5% YoY to Rs 171 crore compared to Rs 113.6 crore posted last year. The margin increased to 15% in Q4FY21 compared to 13% posted in Q4FY20. The company has reported an exceptional loss of Rs 155 crore as 80% of the amortised value of probable future principal defaults possible by issuers of securities in which EIL has invested. The board has announced a final dividend of Re 0.60 per equity share.
Religare Enterprises: Board of Directors of the Company has approved the raising of funds through preferential issue of shares by issuing up to 5.41 crore equity shares of the Company at an issue price of Rs 105.25 per share aggregating up to Rs 570 crore on a preferential basis. The company would use the raised funds in reducing the debt and invest in four key subsidiaries. The investors include names like Burman family (Dabur Group), Ares SSG Capital and Plutus Wealth, Asha Mukul Agrawal and Lakhi among others. The company will allot maximum shares (1.18 crore shares) to the Burman family. Further, the Board has also decided to obtain the approval of members of the Company in the Extra-Ordinary General Meeting ("EGM") of the Company which is scheduled to be held on July 3, 2021.
Private Hospital Shares: Shares of private hospitals like Apollo Hospital, Max Healthcare and Fortis among others will be in focus today as the centre has fixed the maximum price that private hospitals can charge for COVID vaccines. The price of Covishield has been fixed at Rs 780 a dose, indigenously made Covaxin, at a steep Rs 1,410 a dose and Russian vaccine Sputnik V at Rs 1,145 a dose. This includes taxes as well as a 150-rupee service charge for the hospitals. Union Health and Family Welfare Ministry have asked states not to allow private hospitals to levy more than Rs 150 as a service charge. The state governments have been asked to monitor the private hospitals regularly and said strict action will be taken against any private vaccination centre for charging more.
Bulk Deals
Astra Microwave: Quant Mutual Fund bought 6 lakh shares at 159.14 per share.
NIIT Limited: Societe Generale bought 8.54 lakh shares at 279.29 per share.
UFO Moviez: P5 Asia Holding Investments sold 4.36 lakh shares at 94.11 per share.
Zuari Global: Adventz Finance bought 2 lakh shares at 105.50/shares. AUM Capital sold 2 lakh shares at 105.50 per share.
Orient Cement: Franklin Templeton MF sold 41,000 shares on 4 June
Den Networks: ICICI Bank sold 24.58 lakh shares (0.52%) at Rs 57.8 per share.
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