Stocks in Focus on October 5: ICICI Lombard, MGL, Hindustan Zinc, Vedanta to PVR; here are the 5 Newsmakers of the Day
At the stock markets, the S&P BSE Sensex climbed 534 points, or 0.91%, to end at 59,299, on Monday, October 4, 2021.
At the stock markets, the S&P BSE Sensex climbed 534 points, or 0.91%, to end at 59,299, on Monday, October 4, 2021. The Nifty at the National Stock Exchange advanced 159 points, or 0.91%, to 17,691. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, October 5, 2021. List of such five stocks:
ICICI Lombard: French insurance firm Axa has plans to offload 3.57% of its stakes (1.75 crore shares) of ICICI Lombard General Insurance Company through a block deal. Axa would sell these shares at an indicative price of Rs 1,497 to 1,576 per share, at a discount of 0-5% over the current market price of Rs 1,576.75. The deal size is estimated to value around Rs 2,620 crore. Bharti Enterprises & AXA were allotted shares in ICICI Lombard When Bharti AXA was merged into Lombard.
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MGL: Mahanagar Gas on Monday increased the retail price of compressed natural gas (CNG) and piped natural gas (PNG) by Rs 2 each with immediate effect.
Hindustan Zinc + Vedanta
Hindustan Zinc: The company in its production release for the Q2FY22 said, Mined metal production for Q2FY22 was 2,48,000 tonnes, up 4% as compared to Q2 FY21 on account of higher ore production at Rampura Agucha, Sindesar Khurd & Zawar mines supported by improvement in recovery, which has been partly offset by Lower Mining Grades. In comparison to Q1 FY22, it is up by 12%, mainly due to Higher ore production at Sindesar Khurd and improvement in Mining Grade & recovery. Integrated metal production was 209,000 tonnes for Q2FY22, down 12% as compared to both Q2FY21 & Q1FY22 on account of an extended shutdown at one of the roasters at Chanderiya Smelter for Repairs & overhaul of Structural components. Integrated zinc production was 162,000 tonnes, down 10% as compared to Q2FY21 and down by 14% as compared to Q1FY22. Integrated lead production was 47,000 tonnes for Q2FY22, down 18% as compared to Q2 FY21 on account of the Annual Shutdown at Dariba Lead Smelters and down 4% as compared to Q1FY22. Integrated saleable silver production was 4.9 moz (152 MT), down 25% as compared to Q2 FY21 in line with lead production & depletion of WIP in Q2 FY’21 & down 5% as compared to Q1 FY22.
Vedanta: The company in its production release for Q2FY22 said the cast metal aluminium production (including trial run) at its smelters stood at 5,70,000 tonnes in Q2FY22, higher 4% as compared to Q1FY22 and 21% in comparison to Q2 FY21 mainly due to ramp-up of pots. Alumina production stood at 5,11,000 tonnes in Q2 FY22, 6% higher as compared to Q1FY22 and 11% higher as compared to Q2FY21. Mined metal production for Q2FY22 was 2,48,000 tonnes, up 4% as compared to Q2FY21 and 12%, as compared to Q1FY22. Integrated metal production was 209,000 tonnes for Q2 FY22, down 12% as compared to both Q2FY21 & Q1FY22 on account of an extended shutdown at one of the roasters in Chanderiya Smelter for repairs & overhaul of structural components. Integrated zinc production was 162,000 tonnes, down 10% as compared to Q2FY21 and down by 14% as compared to Q1FY22. Integrated lead production was 47,000 tonnes for Q2FY22, down 18% as compared to Q2FY21 on account of an annual shutdown at Dariba Lead Smelters and down 4% as compared to Q1FY22. Integrated saleable silver production was 4.9 moz (152 MT), down 25% as compared to Q2FY21 in line with lower lead production & depletion of WIP in Q2FY21 & down 5% as compared to Q1FY22.
PVR/Nazara Technologies: Multiplex operator PVR has signed an agreement with gaming company Nazara Technologies' NODWIN Gaming to screen live in-cinema e-sports tournaments.
Mahindra & Mahindra Finance: The NBFC has announced its Q2FY22 updates and said during the quarter, its total disbursement grew by 60% YoY to Rs 6,450 crore and 67% QoQ. In September 2021, the total disbursement stood at Rs 1,900 crore, up 23% YoY, albeit on a lower base, which was impacted by the first wave of COVID-19. With further improvement in mobility during September, the collection efficiency was reported at 100% for September 2021, a further improvement over levels of 95% and 97% in July and August, respectively. This resulted in a further reduction in the NPA contracts during the month. The company believe that this trend will continue in Q3FY22. The Company enjoyed a comfortable liquidity position on its Balance Sheet as of September 30, 2021.
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