Stocks in Focus on July 9: South Indian Bank, PNB, ICICI Bank to Manappuram Finance; here are the 5 Newsmakers of the Day
South Indian Bank, Kokuyo Camlin Ltd, ICICI BANK, Manappuram Finance Limited and Bandhan Bank stocks are expected to remain newsmakers throughout the intraday trade session today
The domestic markets corrected on Wednesday, July 8, 2020, by snapping the winning run of five sessions. Mixed global cues triggered profit booking in domestic shares. The barometer S&P BSE Sensex lost 345.51 points or 0.94% at 36,329.01. The Nifty 50 index lost 93.90 points or 0.87% at 10,705.75. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, July 9, 2020. List of such five stocks:
Triggers: There are certain events, like Weekly expiry, PM Modi, PNB, Results, Ex-Dividend, that can either create positive/negative reactions in the markets. Find them in detail:
Weekly Expiry of Contracts: Weekly index option contracts will expire today on Nifty and Bank Nifty.
PM Modi address at India Global Week 2020: Prime Minister Narendra Modi will deliver the inaugural address on the first day of India Global Week 2020 today. The theme of the three-day virtual conference is ‘Be The Revival: India and a Better New World. This is going to be the first international address in Corona era.
PNB Board Meet: The Board of Punjab National Bank will meet today to consider raising of capital through the issue of Basel III Compliant Tier 1 Bonds, Tier 2 Bonds and equity shares by way of Private Placement, Qualified Institutions Placement ("QIP"), Follow-on Public Offering ("FPO"), Rights Issue or any other mode.
Results: TCS (Q1FY21), Arvind Fashions (Q4FY20), HCC (Q4FY20), Sadbhav Engineering (Q4FY20) will announce their financial results of the respective quarter’s today.
Ex-Dividend: HDFC AMC, HDFC Ltd & L&T Technology Services (LTTS) will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date. HDFC AMC: Rs 28 per share, HDFC Ltd: Rs 21 per share and LTTS: Rs 13.5 per share.
Results: South Indian Bank, Automotive Stampings, Kokuyo Camlin and Prozone Intu Properties are few companies who reported their financial results after the market hours on Wednesday. Find in details:
South Indian Bank: The private sector lender on Wednesday reported 11.5% year-on-year rise in standalone profit at Rs 81.7 crore in the June quarter of the current fiscal year (FY21). The lender posted a net profit of Rs 72.3 crore in the corresponding quarter of the fiscal year 2019-20. Net interest income (NII) grew 9.6% to Rs 587 crore in the quarter compared to Rs 535.7 crore posted in the year-ago quarter. Gross non-performing assets (NPAs) remained stable at 4.93% of the gross advances at the end of June quarter as against 4.98% posted in the previous quarter, i.e. Q4FY20. Net NPAs declined to 3.09% from 3.34% in the previous quarter. The lender made provisioning of Rs 293.1 crore, which was 43% up than Rs 205 crore of the corresponding quarter last year.
Automotive Stampings and Assemblies: Automotive Stampings on Wednesday announced the financial results for the period ended March 31, 2020, and reported a consolidated loss of Rs 9.6 crore as against a loss of Rs 3.8 crore posted in the corresponding quarter of last year. Sales were down by 49.02% to Rs 79.8 crore as compared to Rs 138.9 crore posted in the quarter ended on March 31, 2019.
Kokuyo Camlin Ltd.: Kokuyo Camlin announced the financial results for the period ended March 31, 2020, and reported a consolidated loss of Rs 0.34 crore as against the consolidated profit of Rs 4.5 crore posted in the corresponding quarter in last fiscal year. Sales declined by 25.4% on a year-on-year basis to Rs 144.4 crore as compared to Rs 195.3 crore posted last year. EBITDA stood at Rs 6.4 crore, down 52.9% from Rs 13.6 crore posted last year. The margin contracted to 4.4% from 7% in the year-ago quarter.
Prozone Intu Properties: Management consulting services company, Prozone Intu, on Wednesday announced the financial results for the period ended March 31, 2020, and reported a consolidated loss of Rs 1.3 crore as against the consolidated profit of Rs 3.9 crore posted a year-ago quarter. Sales were 36.2% down to Rs 17.7 crore against Rs 27.8 crore posted in the year-ago quarter. EBITDA was down by 34.7% to Rs 9.8 crore against Rs 14.9 crore posted last year. The margin grew to 55.6% against 50.5%.
ICICI BANK: Board of the private lender approved plans to raise Rs 15,000 crore through an equity share sale. The lender can raise funds in one or more tranches via private placement, preferential issue, FPO or a combination thereof.
Manappuram Finance Limited (MFL): Markets regulator Sebi on Wednesday said it has settled an alleged Ambit Capital insider trading case with Manappuram Finance and five individuals after they paid Rs 5.25 crore towards settlement charges. MFL paid a settlement amount of Rs 2.01 crore. It was alleged that MFL had selectively given guidance pertaining to quarterly results to certain analysts of Ambit Capital. MFL during an analyst meeting in March 2013 mentioned possible loss due to under-recovery in the gold loan. The information was passed on the analysts of Ambit before giving any disclosure on the exchange.
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Bandhan Bank/ Muthoot Finance/ Equitas Holding/ Ujjivan: The collection of NBFCs and microfinance companies (MFCs) has improved from 20% to 60%. Collections went down to 20% in April 2020.
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