Stocks in Focus on May 6: Tata Steel, Deepak Nitrite, IDBI Bank, Cipla to Tata Motors; here are the 5 Newsmakers of the Day

At the stock markets, the S&P BSE Sensex climbed 424.04 points, or 0.88 per cent, to close at 48,677.55, on Wednesday, May 5, 2021. The Nifty at the National Stock Exchange advanced 121.35 points, or 0.84 per cent, to end at 14,617.85. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Thursday, May 6, 2021. List of such five stocks:

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Tata Steel: The steelmaker has reported a consolidated profit of Rs 6,644 crore for the quarter ended March 31, 2021, against a net loss of Rs 1,481 crore posted in the same quarter of the previous fiscal year. Consolidated revenue grew 39% YoY to Rs 49,977 crore in the reported quarter compared to Rs 36,009 crore posted last year. EBITDA grew 196% to Rs 14,183 crore from Rs 4,798 crore posted in a year-ago period. Margin improved to 28.4% in Q4FY21 from 13.3% posted in Q4FY20. Other income fell 79% YoY to Rs 272 crore compared to Rs 1,313 crore posted last year. EBITDA/ton grew to Rs 27,282 crore YoY from Rs 12,573 crore. Sequentially, the EBITDA/ton stood at Rs 20,175 crore in the previous quarter ended December 31, 2021. Besides, the board has approved a dividend of Rs 25 per share. The company has reported the highest ever quarterly EBITDA and PAT; Net Debt declines by Rs 10,781 crore in Q4FY21 and Rs 29,390 crore in FY21. 28% Drop in Net debt YoY and now stands at Rs 75389 crore. In addition, a billion-dollar debt reduction guidance given by management for the current FY. 

Prices outlook: 

Upside potential from elevated import parity prices 

Recovery in global demand, Positive cues from China  

Coking coal prices to remain calm in the near term amidst the ongoing geopolitical conflict between China and Australia  

Management believes Europe operations to continue as a going concern however, Auditors are still Skeptical. 

Deepak Nitrite + Adani Green + Blue Dart + OFSS

Deepak Nitrite: The chemical manufacturing company has reported a 68.4% YoY rise in the consolidated profit at Rs 290.1 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 172.3 crore in the same quarter of the previous fiscal year. Consolidated revenue from operations rose by 38.6% to Rs 1,463.2 crore as against Rs 1,055 crore posted last year. The EBITDA stood at Rs 454.7 crore, up 73.5%, from Rs 262.1 crore posted last year. The margins improved to 31.1% in Q4FY21 from 24.8% posted in Q4FY20.

Adani Green: Adani Green has reported an 85.7% YoY rise in consolidated profit at Rs 104 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 56 crore in the same quarter last year. Consolidated revenue grew 41.7% to Rs 986 crore in the reported quarter against Rs 696 crore posted in a year-ago period. EBITDA stood at Rs 626 crore, up 179.5%, from Rs 224 crore. The margin improved to 63% in Q4FY21 from 32% posted in Q4FY20. The company has reported an exceptional loss of Rs 13 crore. 
Blue Dart: Indian logistics company providing courier delivery services has reported a consolidated profit of Rs 90 crore for the quarter ended March 31, 2021, as against a loss of Rs 30.6 crore posted in the same quarter of the previous financial year. Consolidated revenue from operations rose 33.3% to Rs 968.3 crore in the reported quarter against Rs 726.3 crore posted last year. EBITDA stood at Rs 248.3 crore, up 169%, from Rs 92.3 crore posted last year. The margin improved to 25.6% in Q4FY21 as against 12.7% posted in Q4FY20. Besides, the board has approved a dividend of Rs 15 per share. 

OFSS: Oracle Financial Services has reported a 7.1% QoQ rise in consolidated profit at Rs 460.3 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 430 crore in the previous quarter ended December 31, 2020. Consolidated revenue fell 2.2% QoQ to Rs 1,210.9 crore as against Rs 1,238.4 crore posted in the December quarter. EBITDA stood at Rs 565.5 crore, down 3.3%, from Rs 585 crore. The margin contracted marginally to 46.7% in Q4FY21 against 47.2% posted in Q3FY21. 

IDBI Bank: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank Ltd on Wednesday. The extent of respective shareholding to be divested by the Government of India and LIC shall be decided at the time of structuring of transaction in consultation with Reserve Bank of India. The government owns 45.48% in IDBI Bank, while LIC holds 49.24%. LIC is currently the promoter of IDBI Bank while the government is a co-promoter.

Cipla + Vaccine Patent 

Cipla: Roche India today announced that the Central Drugs Standards Control Organisation (CDSCO) has provided an Emergency Use Authorisation (EUA) for Roche’s antibody cocktail (Casirivimab and Imdevimab) in India. Casirivimab and Imdevimab are indicated for the treatment of mild to moderate Covid-19 in high-risk patients. This Emergency Use Authorisation will now enable Roche to import the globally manufactured product batches to India and will be marketed as well as distributed in India through a strategic partnership with Cipla Limited. 
Vaccine manufacturers in Focus: US president Joe Biden’s administration has announced its support for a global waiver on patent protections for COVID-19 vaccines and said it will negotiate the terms at the World Trade Organisation (WTO). This comes as India, South Africa and other nations requested to waive certain portions of the agreement on Trade-Related Aspects of intellectual property rights (TRIPS) for all members of the WTO. 

Maruti Suzuki + Tata Motors

Maruti Suzuki: The automotive manufacturer has produced 1.59 lakh units of vehicles in April 2021, which is 7% lower on a month-on-month basis. It produced no vehicles in April 2020 due to the lockdown. 

Tata Motors: The Competition Commission of India has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements. The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services Ltd and Tata Motors Finance Ltd (opposite parties).