Stocks in Focus on June 1: Voltas, Adani Power to Dr Reddy’s; here are the 5 Newsmakers of the Day
Voltas, Amara Raja, NCC, Equitas Holdings and RCF and Jubilant Life Sciences stocks are expected to remain newsmakers throughout the intraday trade session today
Key market barometers ended with modest gains on Friday, May 29, 2020, ahead of India's Q4 GDP data to be released later today. The buying was supported by the hope of further opening up of the economy. The barometer S&P BSE Sensex surged 223.51 points or 0.69% at 32,424.10. The Nifty 50 index gained 90.20 points or 0.95% at 9,580.30. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, June 1, 2020. List of such five stocks:
Voltas/ Amara Raja/ NCC/ Equitas Holdings/ RCF/ Polycab/ SCI/ Kaveri Seed/ HOEC: These are some companies that reported there March quarter FY20 results after the market hours on Friday, May 28, 2020, and May 31, 2020.
Voltas: Voltas Ltd, a Tata Group company and leading air-conditioner manufacturer, on Friday reported a 12% increase in its consolidated net profit at Rs 159.50 crore in the March 2020 quarter. Its consolidated net profit was Rs 141.74 crore in the January-March quarter of the last fiscal. The consolidated total income rose 1.3% to Rs 2,089 crore against Rs 2,062 crore posted in the same period last year. EBITDA stood at Rs 192 crore, up 33%, from Rs 144.3 crore. The margin grew to 9% against 6.9%.
Amara Raja Batteries: One of India’s leading industrial and automotive battery major, Amara Raja, reported a year-on-year net profit of Rs 137 crore in Q4FY20, a growth of 13% over Rs 119 crore posted in Q4FY19. The company reported revenue of 1,581 crore for March quarter, 1% up, against Rs 1,567 crore posted last year in the same quarter. EBITDA grew by 1% to Rs 244 crore against Rs 242 crore.
NCC: NCC on Friday posted the financial results of March quarter of fiscal 2019-20 (Q4FY20) and reported a decline in its net profit at Rs 110 crore against Rs 174.36 crore posted in the same quarter of FY19. Total income fell to Rs 2,181 crore from Rs 3,389 crore posted last year in the same period. EBITDA stood at Rs 280 crore against Rs 297.8 crore of last year.
Equitas Holdings: Net profit of Equitas Holdings declined 61% to Rs 16.16 crore in Q4FY20. It posted a profit of Rs 42 crore in Q4FY19. The company’s total income rose by 31% to Rs 790 crore from Rs 601.4 crore posted in the same quarter last year.
Rashtriya Chemicals & Fertilisers Ltd (RCF): The state-owned RCF on Friday reported nearly a 202% jump in its consolidated net profit at Rs 142 crore for the quarter ended March FY20. Its net profit stood at Rs 47.2 crore in the year-ago period. Total revenue from operations rose to Rs 2,606 crore in the March quarter of fiscal 2020 against a revenue of Rs 2,266.9 crore posted in the same quarter of fiscal 2019. EBITDA stood at Rs 368.4 crore, up 193%, from Rs 125.8 crore. The margin grew at 14% from 5.5%.
Polycab India: Polycab India Ltd. has posted the financial results for the period ended March 31, 2020, and reported a 35% year-on-year rise in consolidated profit at Rs 215 crore. The company posted a profit of Rs 140 crore in the same quarter last year. However, the revenue from operations declined by 16% to Rs 2.129 crore from Rs 2,464 crore reported last year. EBITDA stood at Rs 301 crore, up 19%, from Rs 244 crore, while margin stood at 14% against 9.9% of the same period of last year.
Shipping Corporation of India (SCI): The state-owned company, SCI, on Saturday reported 83% jump in its consolidated profit to Rs 111 crore for the fourth quarter ended on March 31, 2020. The company had clocked a consolidated profit of Rs 61 crore for the corresponding quarter in 2018-19. Revenue from operations grew by 30.7% to Rs 132 crore from Rs 100.6 crore posted in the same quarter last year. Its EBITDA grew by 35.8% to Rs 304 crore against Rs 224 crore.
Kaveri Seeds: The company on Saturday posted financial reports for the period ended on March 31, 2020, and reported a year-on-year profit of Rs 8 crore against a loss of 11 crore posted in the same quarter last year. Revenue grew by 15% in Q4FY20 at Rs 63 crore against Rs 53 crore of Q4FY19.
Hindustan Oil Exploration Company (HOEC): The company on Sunday posted the financial reports for the period ended on March 31, 2020, and reported a 76.5% year-on-year decline in consolidated profit at Rs 11.6 crore. The company posted a profit of Rs 49.3 crore in the same quarter of last fiscal. Revenue from operations declined 57% to Rs 33.5 crore against Rs 77.3 crore posted last year. EBITDA declined by 80% to Rs 11 crore against Rs 54.8 crore.
Adani Power: Adani Power's board will consider a proposal to delist its entire equity shares from the BSE and NSE in its meeting scheduled on Wednesday, June 3, 2020. Promoter group holds 74.97% stake in the company. Board will consider appointing a merchant banker as well.
Dr Reddy's: Gets Establishment Inspection Report (EIR) from the USFDA for its API Srikakulam Plant (SEZ) in Andhra Pradesh, indicating that the inspection is closed.
Cipla/ Jubilant Life Sciences: The use of Remdesivir is likely to be administered by the government soon. After which, the companies will not be able to sell it directly to the private hospitals as companies that have got the license to manufacture the medicine will have to sell it to government institutions. The distribution of this drug in the US is also being controlled by the US government.
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Kotak Mahindra Bank: The Private sector lender Kotak Mahindra Bank (KMB) has raised Rs 7,442 crore through a qualified institutional placement (QIP) of shares. The bank issued 6.5 crore shares at Rs 1,145 per share to the buyers.
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