Stocks in Focus on October 22: JSW Steel, Biocon, TVS Motor, Jubilant Industries, Tata Chemicals and more

Domestic stocks markets fell around half a per cent in sync with losses in the global equity markets on Thursday, October 21, 2021. The BSE Sensex plunged 336.46 points, or 0.55%, to finish at 60,923.50. The NSE Nifty 50 also fell 88.50 points, or 0.48%, to settle at 18,178. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, October 22, 2021. List of such five stocks:

 JSW Steel + Biocon + TVS Motor + CONCOR + Can Fin Homes + LIC Housing + IEX + ICICI Lombard + Indian Hotels 

JSW Steel: Iron and steel mills company has reported a 350% YoY jump in its consolidated profit at Rs 7,170 crore for the second quarter ended September 30, 2021. It has posted a profit of Rs 1,595 crore in the year-ago quarter. Its revenue from operations on a consolidated basis grew 69% to Rs 32,503 crore as against Rs 19,264 crore posted last year. EBITDA stood at Rs 10,417 crore, up 136% YoY, from Rs 4,416 crore posted last year. The company has reported a margin of 32% in Q2FY22 as against 23% posted in Q2FY21. JSW Steel has reported its highest ever profit after tax (PAT) & EBITDA.

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Biocon: The Biopharmaceutical company has reported an 18% YoY drop in the consolidated profit at Rs 160 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 195 crore in the year-ago quarter. Consolidated revenue from operations grew 5% to Rs 1,840 crore as against Rs 1,750 crore posted last year. EBITDA stood at Rs 445 crore, up 13.5% YoY, from Rs 392 crore posted last year. Margin stood at 24.2% in Q2FY22 as against 22.4% posted in Q2FY21. The company has reported an exceptional item of Rs 70 crore this time. 

TVS Motor: The manufacturer of two and three-wheelers globally TVS Motor Company has reported a 41.8% YoY rise in standalone profits at Rs 278 crore for the second quarter ended September 30, 2021. It had posted a profit of Rs 196 crore in the year-ago quarter. Zee Business analysts estimated a profit of Rs 282 crore for the period under review. The Chennai-headquartered company's revenue from operations grew 22% YoY to Rs 5,619 crore as against Rs 4,605 crore posted last year. EBITDA stood at Rs 562 crore, up 30.7% YoY, from Rs 430 crores. The company has reported a margin of 10% in Q2FY22 as against 9.3% posted in Q2FY21. The company has reported its highest-ever revenue and highest-ever EBITDA in Q2. Besides, the board has approved the incorporation of a wholly-owned subsidiary to undertake its electric mobility business. 

CONCOR: State-run Container Corporation of India Ltd (CONCOR) has reported a 41% YoY rise in the standalone profit at Rs 264 crore for the second quarter ended September 30, 2021. It had posted a profit of Rs 187.6 crore in the year-ago quarter. Its revenue from operations grew 21.4% YoY to Rs 1,824 crore in the period under consideration as against Rs 1,503 crore posted last year. The transport linkage provider between ports and the hinterland has reported an EBITDA of Rs 426.5 crore in the reported quarter, up 36% YoY, from Rs 313 crore posted last year. The Board has declared an interim dividend for FY22 of 80%, i.e., Rs.4 per equity share of the face value of Rs 5 each amounting to Rs 243.72 crore. The record date for the purpose of payment of the Interim Dividend has been fixed as November 03, 2021. 

Can Fin Homes: The housing finance company has reported a 3.7% YoY decline in profits at Rs 123.6 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 128 crore in the year-ago quarter. The company's net interest income (NII) fell 7.2% YoY to Rs 197 crore as against Rs 212 crore posted last year. The net interest margin (NIM) dropped to 3.4% in Q2FY22 as against 4.09% posted in Q2FY21. The company's gross non-performing assets (NPA) stood at 0.78% in the reported quarter as against 0.9% posted in Q1FY22, while the net non-performing assets (NNPA) stood at 0.47% as against 0.57% posted in Q1FY22. Its disbursements during the Q2FY22 increased by 153% YoY to Rs 2,208 crore. Besides, The board of directors approved the issue of non-convertible debentures, on a private placement basis upto an extent of Rs 4,000 crore during the meeting.

LIC Housing: Mortgage loan company has reported a 69% YoY drop in the profits at Rs 248 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 791 crore in the year-ago quarter. Its net interest income (NII) declined 5.4% YoY to Rs 1,167 crore from Rs 1,238 crore posted last year. Gross NPA stood at 5.24% while the Net NPA stood at 2.98% in the period under consideration. 

IEX: Indian electronic system based power trading exchange has reported a 75% YoY rise in the consolidated profit at Rs 78 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 44.3 crore in the year-ago quarter. Its revenue from operations grew 55% YoY to Rs 110 crore as against Rs 71 crore posted last year. EBITDA grew 71% YoY to Rs 95 crore as against Rs 55.5 crore posted last year. Margins grew to 86.1% in Q2FY22 as against 78.2% posted in Q2FY21. Total traded volumes up 57% at 2,590 crore units as against 1,650 crore units. Besides, the company's board has also recommended a bonus issue of equity shares in the proportion of 2:1, subject to the approval of shareholders through postal ballot.

ICICI Lombard: The private sector insurer has reported a 7.4% YoY rise in profits at Rs 446.7 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 416 crore in the same quarter last year. Its net premium income grew by 32% YoY to Rs 3,250 crore as against Rs 2,462 crore posted last year. Gross written premium grew 38.5% to Rs 4,508.5 crore as against Rs 3,254.5 crore posted last year. The solvency ratio stood at 2.49% in Q2FY22 as against 2.74% posted in Q2FY21. The company has reported strong growth across segments and saw a good performance from Fire, Marine and Motor. The crop segment jumps on a small base. The insurer has declared an interim dividend of Rs 4 per share for the first half of the ongoing fiscal and the record date has been fixed for November 1, 2021.

Indian Hotels: Indian Hotels Company Ltd (IHCL) has narrowed its consolidated losses to Rs 130.9 crore in the September quarter as against a loss of Rs 252.1 crore posted in the year-ago quarter. Its revenue from operations grew 184% YoY to Rs 728.4 crore as against Rs 256.7 crore posted last year. It posted a positive EBITDA of Rs 72.8 crore in the reported quarter as against an EBITDA loss of Rs 150.3 crore posted last year. It had posted a margin of 10% for the quarter. The company has reported an exceptional loss of Rs 10.83 crore as against an exceptional profit of Rs 20.49 crore it saw last year. The enhanced fundraising plan includes a rights issue to the existing shareholders of the company for an amount of up to Rs 2,000 crore, followed by a qualified institutional placement (QIP) of equity shares for up to Rs 2,000 crore. The board has also approved the purchase of balance shares aggregating to 39.84% stake from the existing shareholders of Roots Corporation Ltd, which operates the Ginger brand for a consideration not exceeding Rs 500 crore. It will buy the stakes in Roots Corporation Ltd from its existing shareholders' Omega TC Holdings Pte Ltd, Tata Capital Ltd, Tata Investment Corporation Ltd and Piem Hotels Ltd. Subsequently, RCL will become a wholly-owned subsidiary of the company.

Jubilant Industries + Tanla Platforms + Sasken Technologies + Trident

Jubilant Industries: Chemical manufacturing company has reported a 100% YoY rise in the consolidated profit at Rs 28 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 14 crore in the year-ago quarter. Its revenue from operations grew 90% to Rs 328 crore as against Rs 173 crore posted last year. EBITDA grew 115% YoY to Rs 43 crore as against Rs 20 crore posted last year. It posted a margin of 13% in Q2FY22 as against 12% posted in Q2FY21. 
Tanla Platforms: Hyderabad-based cloud communications company has reported a 31% QoQ rise in the consolidated profit at Rs 136 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 104 crore in the year-ago quarter. Its revenue from operations grew 35% YoY to Rs 842 crore as against Rs 626 crore posted last year. EBITDA grew 33% to Rs 179 crore as against Rs 135 crore posted last year. The company's margin remained flat at 21%.  

Sasken Technologies: The telecommunications company has reported a profit of Rs 37 crore for the quarter ended September 30, 2021, as against a profit of Rs 23 crore posted in the previous quarter ended June 30, 2021. Its revenue fell by 1% QoQ to Rs 109 crore as against Rs 110 crore posted in June quarter. EBIT fell 6% QoQ to Rs 33 crore as against Rs 31 crore posted in the previous quarter. The company has posted a margin of 30% in Q2FY22 as against 28% posted in Q1FY21.

Trident: The company has reported a 122% YoY rise in the consolidated profit at Rs 235 crore for the quarter ended September 30, 2021, as against a profit of Rs 106 crore posted in the year-ago quarter. Its revenue grew 44% YoY to Rs 1,692 crore as against Rs 1,174 crore posted last year. EBITDA grew 78% YoY to Rs 411 crore as against Rs 230 crore posted last year. Margin improved to 24% in Q2FY22 as against 19.6% posted in Q2FY21.

Zomato + Nazara +Matrimony + Info Edge + IndiaMART + Just Dial: Google has said that starting on January 1, 2022, it will be decreasing the service fee for all subscriptions on Google Play to 15 per cent from 30 per cent, and for developers offering subscriptions, this means that first-year subscription fees will be cut in half. '

Tata Chemicals: The Chemicals company, reportedly, is considering selling its US Soda Ash business. Soda ash is used in a wide range of everyday goods, including in the manufacturing of detergents, pharmaceuticals, glass, paper and water treatment.

Fund Action    

Indiabulls Real Estate: Rakesh Jhunjhunwala bought a 1.1% stake in the September quarter.
Indiabulls Housing Finance: Rakesh Jhunjhunwala has reduced 1.1% stake in the September quarter.