Stocks in Focus on November 12: Fino Payments Bank, Latent View Analytics IPO, Tata Steel to Sun Pharmaceuticals and many more

At the stock markets, falling for the third straight day, key indices ended with moderate losses on Thursday, November 11, 2021. The S&P BSE Sensex declined 433 points, or 0.72%, to close at 59,920. The Nifty 50 slipped 144 points, or 0.0%, to 17,874. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, November 12, 2021. List of such five stocks:

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Listing + IPO Update: 

Fino Payments Bank IPO: The shares of the company will debut on the stock markets, NSE & BSE, today. The fintech company has fixed a price band of Rs 560-577 per share as the company seeks to raise up to Rs 1,200 crore from the public offering. The initial public offering (IPO) was subscribed 2.03 times on Tuesday, the last day of the issue. The Qualified Institutional Buyers (QIBs) portion was subscribed 1.65 times while the Non-Institutional Investors (NIIs) portion and Retail Individual Investors (RIIs) portions were subscribed 0.21 times and 5.92 times, respectively. The employee portion was subscribed 0.93 times. The fintech company has fixed a price band of Rs 560-577 per share as the company seeks to raise up to Rs 1,200 crore from the public offering. Retail investors were allowed to place for a minimum of 25 Equity Shares and in multiples of 25 shares thereafter. 

Latent View Analytics Limited IPO: The initial public offering (IPO) of the data analytics company Latent View was subscribed 23.22 times on Thursday, the second day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 3.15 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) were subscribed 33.29 times and 69.56 times, respectively. The company has fixed the price band at Rs 190-197 per share as it seeks to raise Rs 600 crore from the initial share sale. The issue will come to a close today. The bid lot size for the retail investors is 76 equity shares and in multiples thereafter, maximum up to 2 lakhs. The public issue comprises a fresh issue of up to Rs 474 crore and an Offer for Sale of up to Rs 126 crore.
Sapphire Foods IPO: The initial public offering (IPO) of Sapphire Foods India Limited, a franchise operator of KFC and Pizza Hut restaurants, was subscribed 6.62 times by 5 pm at the BSE on Thursday, the third and the last day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 7.50 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) were subscribed 3.46 times and 8.70 times, respectively. Sapphire Foods had fixed the price band of the issue at Rs 1,120-1,180 per share as it had plans to raise up to Rs 2,073.25 crore through the issue.
 

Post Market Earnings 

Tata Steel: The steelmaker on Wednesday reported a 654% YoY rise in the consolidated profit at Rs 12,547 crore for the quarter ended September 30, 2021, against a profit of Rs 1,665 crore posted in the year-ago quarter. Its revenue from operations grew by 55% YoY to Rs 60,283 crore against Rs 38,940 crore posted last year. The EBITDA stood at Rs 16,457 crore, up 165% YoY from Rs 6,213 crore posted last year. Its margin improved to 27% in Q2FY22 against 16% posted in Q2FY21.  
- Highest ever quarterly EBITDA 

- EBITDA/ton Rs 24,112 Vs Rs 6,972 

- STANDALONE EBITDA Rs 30,739 VS Rs 11,965

- EUROPE EBITDA/TON IN Rs 15,609 VS -Rs 2,036 

- Gross debt decreased to Rs 78,163 crore  

- Net debt declined to Rs 68,860 crore

NMDC: Iron ore company on Thursday reported a 203% YoY rise in the consolidated profit at Rs 2,339 crore for the quarter ended September 30, 2021, against a profit of Rs 773 crore posted in the year-ago quarter. Its revenue from operations grew by 205% YoY to Rs 6,794 crore against Rs 2,230 crore posted last year. The EBITDA stood at Rs 3,113 crore, up 165% YoY from Rs 1,029 crore posted last year. Its margin remained flat at 46%.
- Royalty Expense up 259% YoY 

- Best Ever Q2 Performance 

Balkrishna Industries: Mumbai-based tyre manufacturing company has reported a 14.7% YoY rise in the consolidated profit at Rs 391 crore for the quarter ended September 30, 2021, as against a profit of Rs 341 crore posted in the year-ago quarter. Its revenue from operations grew by 31.3% YoY to Rs 2,072 crore against Rs 1,578 crore posted last year. The EBITDA stood at Rs 537 crore, down 0.6% YoY from Rs 540 crore posted last year. Its margin contracted to 25.9% in Q2FY22 against 34.2% posted in Q2FY21. Besides, the Board has declared a 2nd interim dividend of Rs 4 per Equity Share (200%) on the Equity Shares of Rs 2/- each (face value) for the financial year 2021-2022 and fixed November 19, 2021, as the record date for the purpose.
- Clocked highest ever quarterly sales volume of 72748 MT (+19% YoY) 

- Revised FY22 guidance: 275,000 – 285,000 MT (earlier: 250,000-265,000 MT guidance given in May 2021) 

- Looking at the current demand scenario and strong outlook, the board has decided to continue the old plant. 

- A CapEx of Rs 350 Crores will be required to add advanced machinery, replacement of certain old machines, upgradation of certain systems in order to enhance the capacity.   

- This CapEx will be incurred over a period of next 6-9 months and the enhanced capacity will be available from Q3FY23 

- The original plan was to shut down the old plant at Waluj after the new plant becomes operational (this has been operational since September 2021) 

Zee Entertainment: The broadcasting company has reported a 187.2% YoY rise in the consolidated profit at Rs 270 crore for the quarter ended September 30, 2021, as against a profit of Rs 94 crore posted in the year-ago quarter. Its revenue from operations grew by 14.9% YoY to Rs 1,979 crore against Rs 1,723 crore posted last year. The EBITDA stood at Rs 412 crore, up 31.4% YoY from Rs 314 crore last year. Its margin improved to 20.8% in Q2FY22 against 18.2% posted in Q2FY21.  

Indiabulls Housing Finance: Gurugram-based mortgage lender has reported an 11% YoY decline in its net profit at Rs 286 crore for the quarter ended September 30, 2021, as against a profit of Rs 323 crore posted in the year-ago quarter. Its revenue from operations fell by 13.5% YoY to Rs 2,232 crore against Rs 2,581 crore posted last year. Its net interest income (NII) also declined by 7% YoY to Rs 625 crore against Rs 671 crore last year.  

Astral: Plastics pipe company has reported a 62% YoY rise in the consolidated profit at Rs 143.3 crore for the quarter ended September 30, 2021, against a profit of Rs 87.9 crore posted in the year-ago quarter. Its revenue from operations grew by 54.5% YoY to Rs 1,154.1 against Rs 747.1 crore posted last year. The EBITDA stood at Rs 211.5 crore, up 47.3% YoY from Rs 143.6 crore of last year. Its margin dropped to 18.3% in Q2FY22 against 19.22% posted in Q2FY21.  

Aster DM Healthcare: The healthcare provider has reported a 224% YoY rise in the consolidated profit at Rs 107 crore for the quarter ended September 30, 2021, against Rs 33 crore posted in the year-ago quarter. Its sales increased by 11.6% to Rs 2,504 crore against Rs 2,243 crore posted last year. EBITDA grew by 25.7% to Rs 342 crore against Rs 272 crore posted last year. Margin improved to 13.6% in Q2FY22 as against 12% posted in Q2FY21.  

Brigade Enterprises: Bangalore-based real estate and property development company has reported a consolidated profit of Rs 12 crore for the quarter ended September 30, 2021. The company had posted a consolidated loss of Rs 17 crore in the year-ago quarter. Sales grew by 142% YoY to Rs 753 crore in the reported quarter against Rs 311 crore posted last year. EBITDA stood at Rs 193 crore, up 121.8% YoY from Rs 87 crore posted last year. The margin contracted to 25.6% in Q2FY22 from 27.9% posted in Q2FY21.  

Cochin Shipyard Ltd: The shipbuilding company has reported a 22% YoY rise in the consolidated profit at Rs 131 crore for the quarter ended September 30, 2021, against a profit of Rs 107 crore posted in the year-ago quarter. Its sales grew by 5.9% YoY to Rs 696 crore against Rs 657 crore posted last year. EBITDA stood at Rs 164 crore, up 31.2% YoY from Rs 125 crore of last year. Margin improved to 23.5% in Q2FY22 from 19% posted in Q2Fy21.  

NHPC Ltd: State-owned hydropower development company has reported a 6.5% YoY rise in the consolidated profit at Rs 1,387 crore for the quarter ended September 30, 2021, against Rs 1,300 crore posted in the year-ago quarter. Sales grew by 1.4% YoY to Rs 2,941 crore from Rs 2,900 crore last year. EBITDA stood at Rs 1,888 crore, up 2.8% YoY from Rs 1,835 crore posted last year. The margin improved to 64% in Q2FY22 against 63% posted in Q2FY21.  

RITES Ltd: State-owned engineering services company has reported a 31.8% YoY rise in the consolidated profit at Rs 174 crore for the quarter ended September 30, 2021, against a profit of Rs 132 crore posted in the year-ago quarter. Sales grew by 71.9% to Rs 755 crore against Rs 439 crore posted last year. EBITDA stood at Rs 216 crore, up 70% YoY from Rs 127 crore of the last year. The margin was almost flat at 28.6% in Q2FY22 against 28.9% posted in Q2FY21. Besides, the board has declared an interim dividend of Rs 4 per share and fixed November 25, 2021, as the record day for the purpose.  

Mayur Uniquoters Ltd: The synthetic leather manufacturer has reported a 47.5% YoY rise in the consolidated profit at Rs 29.5 crore for the quarter ended September 30, 2021, as against Rs 20 crore posted in the year-ago quarter. Its revenue from operation grew by 55.8% to Rs 196 crore as against Rs 125.8 crore posted last year. EBITDA stood at Rs 40.4 crore, up 39.8% YoY from Rs 28.9 crore posted last year. Margins contracted to 20.6% in Q2FY22 from 23% posted in Q2FY21.  

Prestige Estate: Bangalore-based property development company has reported a consolidated profit of Rs 93.7 crore for the quarter ended September 30, 2021, against a profit of Rs 93.8 crore posted in the year-ago quarter. Its revenue from operations fell by 31.9% YoY to Rs 1,344.5 crore against Rs 1,975 crore posted last year. EBITDA stood at Rs 391.8 crore, down 26.8% YoY from Rs 535.1 crore posted last year. The margins improved to 29.1% in Q2FY22 from 27.1% posted in Q2FY21.

Star Paper Mills Ltd: The paper mill company has reported a 325% YoY rise in the consolidated profit at Rs 6.8 crore for the quarter ended September 30, 2021, against a profit of Rs 1.6 crore posted in the year-ago quarter. Its revenue from operations grew by 40.9% YoY to Rs 76.8 crore as against Rs 54.5 crore posted last year. EBITDA grew by 181% YoY to Rs 7.2 crore in the reported quarter as against Rs 2.6 crore posted last year. Margins improved to 9.4% in Q2FY22 from 4.7% posted in Q2FY21.  

JBM Auto: Auto parts company has reported a 23% YoY rise in the consolidated profit at Rs 25.3 crore for the quarter ended September 30, 2021, against a profit of Rs 20.49 crore posted in the year-ago quarter. Its revenue from operations grew by 45% YoY to Rs 752.72 crore from Rs 517.35 crore posted last year. EBITDA stood at Rs 78.24 crore, up 28% from Rs 61.25 crore posted last year. Margin fell to 10.39% in Q2FY22 from 11.8% in Q2FY21.  
 

Sun Pharmaceuticals: Sun Pharma gearing up to introduce Merck Sharpe Dohme (MSD) and Ridgeback's molnupiravir under the brand name Molxvir® in India.

APL Apollo Tubes: DSP Mutual Fund acquired 14.72 lakh equity shares in the company at Rs 900 per share. Promoter Rahul Gupta sold 15.01 lakh shares at Rs 900.32 per share and promoter entity APL Infrastructure offloaded 30 lakh equity shares at Rs 900.04 per share.  

Solara Active Pharma: The Board of Directors of the company has approved a Composite Scheme of Amalgamation (Merger by Absorption) cum Demerger and Arrangement (the "Scheme") amongst Hydra Active Pharma Sciences Private Limited and Aurore Life Sciences Private Limited and Empyrean Lifesciences Private Limited and Solara. Further, the Board has given the authorisation to file the Scheme along with relevant disclosures, documents, certifications, and undertakings with the stock exchanges.

The Scheme provides for: 

a) Redemption of 0.1% Redeemable Preference Shares of Rs. 1,000 each issued by Hydra Active Pharma Sciences Private Limited ("Hydra" or "Amalgamating Company 1" or "Transferor Company 1). 

b) Subject to satisfactory fulfilment and accomplishment of (a) above, an amalgamation of Transferor Company 1 with Aurore Life Sciences Private Limited ("Aurore Life Sciences" or "Amalgamated Company 1" or "Transferee Company 1" or "Demerged Company") 

c) Subject to satisfactory fulfilment and accomplishment of (a) and (b) above, the demerger of the Demerged Undertaking (API Business Undertaking) from Demerged Company into SolaraActive Pharma Sciences Limited ("Solara" or "Resulting Company" or "Amalgamated Company 2" or "Transferee Company 2") 

d) Subject to satisfactory fulfilment and accomplishment of (a), (b) and (c) above, an amalgamation of Empyrean Lifesciences Private Limited ("Empyrean" or the "Amalgamating Company 2" or "Transferor Company 2") with the Transferee Company 2.

The Scheme is subject to the fulfilment of certain conditions including receipt of approvals of shareholders and creditors of companies involved and approval of other regulatory authorities as may be required, including those of the National Stock Exchange of India Limited, BSE Limited, Securities and Exchange Board of India and the National Company Law Tribunal, having jurisdiction over the respective companies ("NCL T").

  

Shareholding  

 

                                              Pre Scheme                                   Post Scheme 

Promoter                                      39.53                                            49.16 
Public                                            60.47                                            50.84

 
Advisors for the proposed transaction are Transaction Square LLP, Share Exchange Ratio Report issued by Niranjan Kumar, Registered Valuer - Financial Securities or Assets (affiliate of Transaction Square LLP), Fairness opinion on the Share Exchange Ratio Report by ICICI Securities Limited and Legal advisors to the proposed Scheme are Anagram Partners and DSK Legal.  

MSCI Review Announced: Applicable From Market Close on November 30, 2021.  

MSCI INDIA INDEX  

Additions   

Godrej Properties   

IRCTC  

Mindtree  

Mphasis  

SRF  

Tata Power Co  

Zomato  

 
Deletions  

IPCA Laboratories  

REC  

 
MSCI India Smallcap Index  

Additions   

ABB Power Products & Systems 

Allcargo Logistics   

Angel Broking   

Asahi India Glass   

Bombay Stock Exchange   

Borosil Renewables   

Brightcom Group   

Brookfield India REIT   

Caplin Point Labs   

CarTrade Tech 

Chalet Hotels  

Chemplast Sanmar  

Clean Science and Tech 

Deepak Fertilisers and Petrochemicals 

Delta Corp  

Devyani International  

eClerx Services  

Embassy Office Park REIT  

Equitas Small Finance  

GlaxoSmithKline Pharmaceuticals 

Grindwell Norton  

Gujarat State Fertilizers and Chemicals 

HFCL  

Hikal  

Home First Finance  

Indo Count Industries  

IPCA Laboratories  

ISGEC Heavy Engineering  

Jindal Stainless  

Jindal Stainless Hisar  

Jubilant Ingrevia  

Kansai Nerolac Paints  

Krishna Institute of Medical Sciences 

Laxmi Organic Industries  

Lux Industries  

Mahindra Logistics  

MASTEK  

MTAR Technologies  

Nazara Technologies  

NIIT  

NLC India  

NOCIL  

Nuvoco Vistas  

Olectra Greentech  

Paisalo Digital  

Polyplex Corporation  

Poonawalla Fincorp  

Praj Industries  

Prince Pipes and Fittings 

REC  

Reliance Power  

Rossari Biotech  

Saregama India  

Sheela Foam  

Shipping Corporation of India  

Shree Renuka Sugar  

SIS  

Solar Industries India  

Sterling and Wilson  

Sundaram Clayton  

Suprajit Engineering  

Suzlon Energy Limited  

Tata Teleservices Maharashtra TCI Express  

Tejas networks  

Trident  

Triveni Engineering & Industries 

TVS Motor Co  

Whirlpool Of India  

   

Deletions  

DCB Bank  

Godrej Properties  

Gulf Oil Lubricant India  

IRCTC  

JSW energy  

Mindtree  

Mphasis  

SRF  

Tata power co  

Ujjivan Financial SVCS