Stocks in Focus on April 22: ACC, SBI Life to Shriram Transport Finance; here are expected 5 Newsmakers of the Day
Stocks in Focus on April 22: SBI Life, ACC, Shriram Transport Finance, HDFC to Kalpataru Power Transmission — here are the expected five newsmakers throughout the intraday trade session.
Stocks in Focus on April 22: At the stock markets, the Sensex at the Bombay Stock exchange tanked 1,011 points, or 3.2 per cent, to close at 30,637, on Tuesday, April 21, 2020. The Nifty at the National Stock Exchange tumbled 280 points, or 3 per cent, to end at 8,981. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Wednesday, April 22, 2020. List of such five stocks:
ACC Ltd: Cement maker ACC Ltd on Tuesday reported a 5 per cent decline in its net profit taxes (PAT) on year-on-year (YoY) basis after for the March quarter at Rs 320 crore against Rs 338 crore reported in the same quarter of the corresponding year. The numbers were impacted by volume decline during the lockdown last month. The company follows a January-December financial year. Total revenue was down 10 per cent to Rs 3,502 crore against Rs 3,919 crore in the year-ago period. However, its operating EBITDA improved by 10 per cent on a year-on-year basis despite the impact of COVID-19 lockdown in March. ACC's cement sales volume in March quarter 2020 was down 12 per cent.
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SBI Life Insurance/ Adani Power: SBI Life Insurance will be included in the F&O in May series while Adani Power will be excluded from the F&O segment from July series.
HDFC: Mortgage lender HDFC cut its retail prime lending rate (RPLR) by 15 basis points from April 22, 2020. (RPLR) is the rate on which its adjustable-rate home loans (ARHL) are benchmarked. Such a change will benefit all existing HDFC retail home loan customers.
Kalpataru Power Transmission/ Crompton Greaves Consumer Electricals: These are the companies where plants have resumed production work amid COVID-19 pandemic spread.
Kalpataru Power Transmission: It has partially resumed its work at project sites.
Crompton Greaves Consumer Electricals: The company has said that it has partially resumed manufacturing at its plants at Goa and Vadodara.
Shriram Transport Finance: MFS Institutional Trusts (Canada) has sold 12.48 lakh shares of the company at Rs 606.65 apiece.
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