Stocks in Focus on August 10: Telecom Stocks, Axis Bank, HDFC Bank, Cipla, CONCOR to Defence Stocks; here are the 5 Newsmakers of the Day
Domestic equity benchmarks ended a dull session with tepid gains on Friday, August 7, 2020. Gains were capped due to weakness in IT shares. Rising coronavirus cases also dented sentiment. The barometer index, the S&P BSE Sensex gained 15.12 points or 0.04% at 38,040.57
Domestic equity benchmarks ended a dull session with tepid gains on Friday, August 7, 2020. Gains were capped due to weakness in IT shares. Rising coronavirus cases also dented sentiment. The barometer index, the S&P BSE Sensex gained 15.12 points or 0.04% at 38,040.57. The Nifty 50 index rose 13.90 points or 0.12% at 11,214.05. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, August 10, 2020. List of such five stocks:
Triggers: There are certain events, like AGR Case Hearing in SC, Results Today, Russia Corona, Axis Bank, HDFC Ltd, Triveni Engineering, IndiGo, Japan market closed, Ex-dividend and AGM, which can create positive/negative reactions in the markets. Find them in detail:
AGR Hearing: The Supreme Court will be hearing the adjusted gross revenue (AGR) case next on August 10, with the order on a time frame for 'staggered' repayment of dues by telcos yet to be pronounced. The court had reserved its order in the matter during its hearing held on July 20. The apex court had also reserved its order on the timeline of staggered payment of AGR-related dues by telecom operators including Vodafone Idea, Bharti Airtel and Tata Teleservices. Both Vodafone and Airtel have requested for a 15-year window to clear the dues, while Tata Teleservices has sought 7-10 years. Bharti Airtel has pas paid 41% AGR dues till date. Vodafone Idea has paid Rs 1,000 crore of the dues on July 18, 2020.
Results today: Nifty: Shree Cement (1 pm-3 pm), Titan (variable) (concall at 6 pm), Power Grid (post-market).
F&O: Ujjivan Fin Services (post-market), Equitas Holdings (post-market), Bank of Baroda (post-market) (concall at 4 pm) Cash: KIOCL, Triveni Eng, Meghmani Organics, Sonata Software, V-Mart, HEG, AstraZeneca Pharma, Mold-tek Tech, Aban offshore, TTK Prestige, KEC Intl, Akzo Nobel, Vindhya Telelinks, Kalyani Steels, Subex, Sundaram Fin, Mawana Sugar, IPCA Lab, DFM Foods, Vadilal Ind, Caplin Point Lab, GE T&D, CARE Ratings, Camlin Fine Science, Cochin Shipyard, Kanoria Chemicals, Quickheal Tech, Mangalam Drugs, D-Link, Force Motors, Fortis Malar Hospitals, Goodricke Group,
Russia Corona: Russia to register its first Covid-19 vaccine on August 12, 2020. The vaccine has been developed jointly by the Gamaleya Research Institute and the Russian Defence Ministry.
Axis Bank: The Board of Directors of the bank will meet today to consider and approved the issue price for the Equity Shares proposed to be issued. Earlier on Tuesday, the Private sector lender has launched a qualified institutional placement (QIP) offering to raise as much as Rs 10,000 crore. The floor price was set at Rs 442 per share.
HDFC Ltd: The board of the mortgage lender HDFC Ltd is scheduled to meet today to consider and approve the issue price of the qualified institutional placement (QIP). The mortgage lender earlier on Wednesday launched a mega qualified institutional placement (QIP) and warrants to raise Rs 14,000 crore. The floor price was set at Rs 1,838.94 per share.
Triveni Engineering & Industries Ltd: The Board of Directors of the Company is scheduled on today to consider and approve Unaudited Financial Results of the Company for the 1st quarter (Q1FY21) ended June 30, 2020; and the proposal for Buy-Back of the equity shares of the Company.
Interglobe Aviation: The Board of InterGlobe Aviation will meet today to consider raising of funds through equity, debt and/or any other permitted means.
Japan Stocks Market: Japan stock markets will remain closed today, for a public holiday.
AGM: Annual General Meeting of companies, like Eicher Motors, Titan Company and Bank of India, is scheduled to be held today.
Ex-Dividend today: Alkem Laboratories, Ashiana Housing Ltd, Honeywell Automation India, Universal Cables and Vindhya Telelinks will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date.
Alkem Lab Final Dividend - Rs. - 3.0000
Ashiana Hsg Final Dividend - Rs. - 0.3000
Honeywell Auto Final Dividend - Rs. - 75.0000
Universal Cables Final Dividend - Rs. - 2.0000
Vindhya Telelinks Dividend - Rs. - 10.0000
Results: These companies, namely Cipla, CONCOR, REC, Amara Raja, Bata India, Siemens, have reported their financial results after the market hours on Friday and till Sunday. Find in details:
CIPLA: The pharmaceutical company CIPLA has reported a 39% year-on-year rise in consolidated profit at Rs 660 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 478 crore in the corresponding quarter last year. Consolidated Revenue from operations grew 9% to Rs 4,346 crore compared to Rs 3,989 crore posted last year. EBITDA stood at Rs 1,049 crore, up 15% from Rs 905 crore posted last year. The margins remained almost flat at 22.6% in Q1FY21 from 22.7% posted in Q1FY20.
Container Corporation of India (CONCOR): CONCOR has reported a 72% year-on-year decline in standalone profit at Rs 62 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 228 crore in the same quarter last year. Revenue from operations declined 27% to Rs 1,189 crore compared to Rs 1,639 crore posted last year. EBITDA stood at Rs 158 crore, down 60% from Rs 403 crore posted last year. The margins contracted to 13% in Q1FY21 from 24.6% posted in Q1FY20.
REC Ltd: The state-owned REC Ltd on Friday reported a 22.5% rise in its profit at Rs 1,839 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 1,501 crore in the same quarter a year ago. Revenue from operations rose to Rs 8,420 crore, up 24% from Rs 6,795 crore posted last year.
Amara Raja Batteries: Amara Raja on Friday reported a 55.3% decline in the standalone profit at Rs 63 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 141 crore in the same quarter last fiscal. Revenue from operations dropped 36.6% to Rs 1,151 crore as compared to Rs 1,815 crore posted last year. EBITDA stood at Rs 153 crore, down 45.2% from Rs 279 crore posted last year. The margin contracted to 13.3% in Q1FY21 from 15.4% posted in Q1FY20.
Bata India: The shoemaker on Friday reported a net loss of Rs 101 crore for the quarter ended on June 30, 2020. It had posted a profit of Rs 101 crore in the same quarter last year. Revenue from operations dropped 84% to Rs 134.7 crore compared to Rs 882 crore posted last year. There was an EBITDA loss of Rs 86.2 crore against an EBITDA profit of Rs 242 crore posted in a year-ago period.
Siemens: Siemens on Friday reported a standalone net loss of Rs 4.6 crore for June quarter 2020. In a year-ago period, it had posted a net profit of Rs 248 crore. Revenue dropped 58% to Rs 1,319 crore from Rs 3,198 crore posted in the same quarter last year. There was an EBITDA loss of Rs 69 crore compared to EBITDA profit of Rs 354 crore posted last year. The company follows October-September as financial year.
Defence stocks in Focus: To give a big push to the Atmanirbhar Bharat Initiative, the Ministry of Defence has prepared a list of introduced an import embargo on 101 items for which there would be an embargo on the import beyond the timeline indicated against them. The embargo on the import of the selective items will be in place from 2020 to 2024. A separate budget worth Rs 52,000 crore has been created for domestic purchases of domestic capital procurement
Majesco: Thomas Bravo, a leading private equity firm, has increased its offer to acquire the US subsidiary of Majesco by 22%. The offer has been raised from $59.4 crore to $72.9 crore. Under the amendment, Thoma Bravo will acquire all of Majesco’s outstanding shares for $16.00 per share against $13.10 per share.
Fund Action: Fund action were seen in certain stocks like Century Textiles, Gateway Distriparks, Mindspace Business REIT, Bandhan Bank, Axis Bank and HDFC Ltd. Find in detail:
Century Textiles: Morgan Stanley acquired has 6.89 lakh shares of Century Textiles at Rs 317.45 per share.
Gateway Distriparks (rights issue): General Insurance Corporation of India sold 1.95 lakh shares at Rs 12.55 per share.
Mindspace Business REIT: Capital Income Builder acquired 51.8 lakh units at Rs 303.44 per unit and Nomura Investment acquired 62.6 lakh units at Rs 302.45 per unit.
Bandhan Bank: BNP Paribas Arbitrage acquired 27.4 lakh shares of Bandhan Bank at Rs 300 per share and Goldman Sachs sold 27.4 lakh shares at Rs 300 per share.
Axis Bank: BofA Securities acquired 35 lakh shares (0.12%) at Rs 428.7 per share and UBS Principal Capital sold 35 lakh shares (0.12%) at Rs 428.7 per share.
See Zee Business Live TV Streaming Below:
HDFC Ltd: BOFA Securities Europe SA has acquired 1.79 shares of HDFC Ltd at Rs 1,785 per share. Merril Lynch has sold 1.79 lakh shares at Rs 1,785 per share.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.