Stocks in Focus on October 13: Tata Motors, Aviation Stocks, Fertiliser Stocks, Centrum Capital to Bhansali Engineering

The stock markets settled higher after a volatile session on Tuesday, October 12, 2021. The S&P BSE Sensex gained 149 points, or 0.25%, to end at 60,284.31. The Nifty 50 rose 46 points, or 0.26%, to 17,991.95. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, October 13, 2021. List of such five stocks:

Tata Motors: Tata Motors on Tuesday closed a deal to raise Rs 7,500 crore ($100 crore) from TPG Rise Climate and Abu Dhabi’s ADQ. TPG Rise has assigned a $9.1 billion valuation to the EV subsidiary (earlier, it was estimated at $8 billion. TPG Group will secure an 11-15% stake in the EV subsidiary at an equity valuation of $9.1 billion. TML EVCo is to be created as an asset lite new subsidiary of TML and it will house all dedicated EV talent and design capabilities of TML.

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Aviation Stocks: Civil Aviation Ministry has decided to restore the scheduled domestic air operations from October 18, 2021, without any capacity restriction. The decision was taken after the review of the current status of scheduled domestic operators and passengers’ demand for air travel.

Fertiliser Stocks: Cabinet Committee on Economic Affairs (CCEA) has approved Nutrient Based Subsidy (NBS) rates for Phosphatic & Potassic (P&K) Fertilisers for the year 2021-22 (from October 1, 2021, to March 31, 2022). Net subsidy of Rs 28,655 crore for Rabi 2021-22. The decision was taken to ensure the availability of P&K fertilizers to the farmers at affordable prices. 

Centrum Capital: The Reserve Bank of India ('RBI') vide its letter dated October 12, 2021, issued a licence to Unity Small Finance Bank Limited, a step-down subsidiary of the Company, to carry on Small Finance Bank (SFB) business.

Bhansali Engineering: The petrochemical company on Tuesday reported a 244% YoY rise in the consolidated profit at Rs 124 crore for the quarter ended June 30, 2021 (Q2FY22). It had posted a profit of Rs 36 crore in the same quarter of the previous financial year (Q2FY21). Sales on a consolidated basis rose 21.8% to Rs 375 crore as compared to Rs 308 crore posted last year. EBITDA stood at Rs 164 crore, up 256%, against Rs 46 crore posted last year. The margin improved to 43.7% in Q2FY22 as against 15% posted in Q2FY21. Besides, the company has approved and declared an interim dividend of Re 1 per equity share for the financial year 2021-22, subject to deduction of tax at source. The board also fixed, Friday, October 22, 2021, as the Record date for determining entitlement of shareholders to receive the Interim Dividend for the financial year 2021-22. Also, the board has approved the Brown Field ABS Expansion Project at Company's existing plants i.e. Abu Road (Rajasthan) and Satnoor (Madhya Pradesh) for enhancing the overall ABS production capacity to 200,000 TPA with approx. CapEx of Rs 500 Crore, to be funded through Reserves and Surplus which shall be implemented tentatively by December 2024.