Stocks in Focus on August 4: Spencer’s Retail, Exide Industries to Jubilant Life Sciences; here are expected newsmakers of the day
Stocks in Focus on August 4: Spencer’s Retail, Exide Industries, Jubilant Life Sciences, BSE, Dhanlaxmi Bank, etc. are expected newsmakers throughout the intraday trade session.
Stocks in Focus on August 4: Key domestic benchmarks ended with steep losses on Monday, August 3, 2020, extending their losing streak to fourth consecutive trading session. The barometer index, the S&P BSE Sensex slumped 667.29 points or 1.77% at 36,939.60. The Nifty 50 index lost 181.85 points or 1.57% at 10,891.60. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, August 4, 2020. List of such five stocks:
Triggers: There are certain events, like results today, Results in Today, RBI Policy, Spencer's Retail, Satin Credit, IMD Alert, Ex-dividend, AGM and Ex-Dividend, which can create positive/negative reactions in the markets. Find them in detail:
Results today: Companies, like Tata Consumer Products, Godrej Consumer, SPARC, JTEKT India, Marksans Pharma, Neuland Lab, PI Industries, Dixon Tech, Taj GVK Hotels, Vinyl Chemicals, Gujarat Gas, Century Enka, Varun Beverages, Narayana Hrudyalaya, Bhansali Engineering, Grindwell Norton, Sundaram Finance Holdings, Unichem Labs, Geojit Financial Services, Hikal, Eris Lifesciences, PTC India Financial Services, Igarashi Motors, Astral Poly Technik and Apollo Pipes, will post their quarterly results today.
See Zee Business Live TV streaming below:
RBI MPC Meet: The three-day Monetary Policy Committee (MPC) meet, headed by Reserve Bank of India's (RBI) Governor Shaktikanta Das, will commence today on August 4. The MPC will announce its policy stance decisions on August 6.
Spencer’s Retail: Spencer's Retail (SRL) rights issue of 1,06,04,563 Rights Equity Shares will open today. It has been priced at Rs 75 per equity share. The company aims to collect Rs 80 crore through the Rights Issue. The Issue will open for subscription on August 4, 2020, and will close on August 18, 2020. The company is offering 2 rights shares for every 15 shares held on July 29.
Satin Creditcare Network: Today is the ex-date for the Rs 120 crore rights issue of microfinance company Satin Creditcare Network at Rs 60 per equity share. The company is offering 48 Rights Equity Shares for every 125 existing fully paid shares held by Eligible Equity Shareholders as on the Record Date. While the initial payment along with the application is Rs 15 a share, the balance of Rs 45 have to be paid in one or more subsequent calls as may be decided by the board/committee. The record date for the rights issue has been fixed as August 5.
IMD Alert: The India Meteorological Department issued a red alert for Mumbai for Tuesday after upgrading its earlier rain forecast from "heavy-very heavy" to "extremely heavy".
AGM: Annual General Meeting of companies, like Godrej Consumer Products Ltd, Punjab National Bank and Union Bank of India, is scheduled to be held today.
Ex-Dividend: CRISIL Interim, JMC Projects, JSW Energy, Keltech Energies & NELCO will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date.
Results: These companies, namely Exide, KPIT Technologies, BSE, Dhanlaxmi Bank and Wheels India, have reported their financial results after the market hours on Monday. Find in details:
Exide Industries: Battery major Exide Industries on Monday reported an 80% year-on-year (YoY) drop in profits to Rs 44 crore in the quarter ended on June 30, 2020. It had posted a profit of Rs 224 crore in the corresponding quarter last year. Revenue from operations fell 44% to Rs 1,548 crore from Rs 2,779 crore posted last year. EBITDA stood at Rs 148 crore, down 63% from Rs 407 crore. The margin dropped to 9.5% in Q1FY21 from 14.6% in Q1FY20.
KPIT Technologies: The IT company KPIT Technologies on Monday reported a 37% quarter-on-quarter (QoQ) decline in profit to Rs 24 crore in the quarter ended on June 30, 2020. It had posted a profit of Rs 38 crore in the previous quarter. The firm’s revenue from operations in the April-June quarter dropped 11.5% QoQ to Rs 492 crore compared with Rs 556 crore posted in the previous quarter. $Revenue was down 15% to $6.5 crore in Q1FY21 compared with $7.7 crore posted in Q4FY20. EBIT stood at Rs 33 crore, down 28% from Rs 45.7 crore, while the margin dropped to 6.7% in the April-June quarter from 8.2% posted in the previous quarter.
BSE: The leading stock exchange BSE on Monday reported 22% year-on-year (YoY) decline in profit to Rs 32.5 crore in the quarter ended on June 30, 2020. It had posted a net profit of Rs 41.3 crore in the same quarter last year. Revenue from operations dropped 8% to Rs 103 crore in the quarter compared with Rs 112 crore posted in the corresponding quarter last year. EBITDA stood at Rs 572 crore, down 4% from Rs 594 crore posted last year, while the margin contracted by 1% to 35% in Q1FY21 from 36% posted in Q1FY20.
Dhanlaxmi Bank: Dhanlaxmi Bank on Monday reported a 70% year-on-year decline in net profit at Rs 6 crore for the quarter ended on June 30, 2020. It posted a net profit of Rs 19.8 crore in the corresponding quarter last year. Net interest income (NII) declined 12% to Rs 79 crore compared to Rs 90.1 crore posted last year. Gross NPA rose to 6.89% from 5.9%, while the Net NPA ratio increased to 2.18% from 1.55%. The lender made a provision of Rs 37 crore in Q1FY21, up 4 times (4X) from Rs 9.2 crore provisioned in Q1FY20. The bank’s provision coverage ratio stands at 86.78%.
Wheels India: Wheels India on Monday posted a net loss of Rs 45 crore for the quarter ended on June 30, 2020. It had posted a net profit of Rs 11 crore in the corresponding quarter last year. Its revenue from operations declined 72% to Rs 216 crore from Rs 782 crore posted last year.
Jubilant Life Sciences: Jubilant Life Sciences on Monday announced that its arm, Jubilant Generics, has launched remdesivir for injection under the brand name ‘JUBI-R’ in the Indian market at a price of Rs 4,700 per vial of 100 mg (lyophilized injection). The company will make the drug available to over 1,000 hospitals providing COVID-19 treatment in India through its distribution network.
KEC international: RPG Group firm KEC International on Monday said it has bagged contracts worth Rs 1,192 crore across its various businesses in both domestic and international markets. It has secured contracts in the transmission and distribution (T&D) segment and various types of cabling projects.
Bandhan Bank: Promoter Bandhan Financial Holding has sold 33.74 crore shares, equivalent to 20.95% stake, at an average price of Rs 313.35 per share. Buyers of the stakes include
Caladium Investment - A GIC affiliate acquired 4 crore shares (2.49% stake) at Rs 313.1 per share.
Credit Suisse acquired 2.56 crore shares (1.59% stake) at Rs 313.1 per share.
Camas Investments - A Temasek affiliate acquired 2.46 crore shares (1.53% stake) at Rs 313.1 per share
Societe Generale acquired 2.84 crore shares (1.76% stake) at Rs 313.1 per share
Copthall Mauritius Investment - A Blackrock affiliate acquired 1.25 crore shares (0.78% stake) at Rs 313.1 per share
Bandhan Employees Welfare Trust acquired 93 lakh shares (0.58% stake) at Rs 313.1 per share
Morgan Stanley acquired 81.75 lakh shares (0.51% stake) at Rs 313.1 per share
Besides, GIC has received approval from the Reserve Bank of India to increase its stake in the lender to 10%. The promoters of the bank may use the stake sale proceeds to start insurance, Mutual Fund units.
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