Stocks in Focus on June 5: DLF, Bharti Airtel to Britannia; here are expected newsmakers of the day
Stocks in Focus on June 5: DLF, Bharti Airtel, Britannia, etc. are expected newsmakers throughout the intraday trade session.
Stocks in Focus on June 5: Barometers ended with small losses on Thursday, June 4, 2020, snapping a six-day rising streak. Trading was volatile due to expiry of weekly index options. The barometer S&P BSE Sensex lost 128.84 points or 0.38% at 33,980.70. The Nifty 50 index fell 32.45 points or 0.32% at 10,029.10. Both these indices rallied over 11% in the previous six trading sessions. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, June 5, 2020. List of such five stocks:
DLF/ SRF/ PI Industries/ TD Power/ Chemfab Alkalies: These are some companies that reported their financial results of March quarter FY20 after the market hours on Thursday, June 4, 2020. Find details:
DLF Ltd: The country's biggest listed real estate developer which builds homes, offices and shopping malls on Thursday reported a net loss of Rs 1858 crore for the fourth quarter that ended on March 31, 2020, due to reversal of deferred tax assets (DTA) as it adopted a lower tax rate. It posted a net profit of Rs 436.6 crore. The real estate developer’s revenue from operations fell 32.2% to Rs 1,694 crore from Rs 2,500 crore posted a year ago in the same quarter. EBITDA stood at Rs 316.3 crore, down 40.7% from Rs 533 crore; while EBITDA margin contracted to 18.7% as compared to 21.3% of last year. The company has posted an exceptional loss of Rs 330 crore, against an exceptional gain of Rs 127 crore posted last year. Also, there was a one-time DTA reversal of Rs 1916 crore, on the adoption of lower-tax rate.
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SRF Limited: The chemical-based multi-business entity engaged in the manufacturing of industrial and speciality intermediates on Thursday announced its consolidated financial results for the fourth quarter that ended on March 31, 2020. It reported a 2.7% year-on-year loss in consolidated profit at Rs 185.8 crore in the quarter against a net profit of Rs 190.9 crore posted a year ago in the same quarter. Revenue from operations fell by 4.1% to Rs 1,857 crore from Rs 1,937 crore. EBITDA stood at Rs 361.3 crore, down 3% against Rs 372 crore of last year. The EBITDA margin grew to 19.4% from 19.2%.
PI Industries Ltd: The company on Thursday posted the financial results for the period ended March 31, 2020, and reported an 11.9% year-on-year decline in consolidated profit to Rs 110.7 crore. IT posted a net profit of Rs 125.7 crore in the same quarter last year. Its revenue from operations grew 6.3% to Rs 855.2 crore against Rs 804.8 crore posted last year. EBITDA stood at Rs 186.3 crore, up 7.4% from Rs 174 crore of last year, while margin grew to 21.8% against 21.6%. Other income declined from Rs 22 crore to Rs 6.8 crore. Besides, the company has recommended a final dividend of Rs 1 per equity share for the financial year ended March 31, 2020.
TD Power Systems: The company on Thursday posted the financial results for the period that ended on March 31, 2020, and reported a 22.1% year-on-year rise in consolidated profit to Rs 18.8 crore. It posted a net profit of Rs 15.4% in the same quarter last year. Revenue from operations declined 24.6% to Rs 151.4 crore against Rs 200.8 crore posted last year. EBITDA stood at Rs 15 crore, down 47.4% against Rs 29 crore, while margin contracted to 9.9% from 14.2%. The company has posted an exceptional gain of Rs 11.9 crore by selling unutilized land.
Chemfab Alkalis Limited: The chemical company on Thursday reported a 67.3% year-on-year decline in consolidated profit to Rs 1.8 crore in the March quarter that ended on March 31, 2020. It posted a net profit of Rs 5.5 crore a year ago in the same quarter. Revenue declined 20% to Rs 40.9 crore in the quarter ended March 2020 as against Rs 51.1 crore during the previous quarter ended March 2019. EBITDA stood at Rs 7.2 crore, down 51% against Rs 15 crore, while margin compacted 17.6% from 28.8% of last year. It had an exceptional loss of Rs 7 crore due to impairment of Ongole plant. has recommended a dividend at the rate of Rs. 1.25 per Equity Share (12.5%) of the company for the financial year ended March 31, 2020. Its board has recommended a dividend at the rate of Rs. 1.25 per Equity Share of the company for the financial year ended March 31, 2020.
Reliance Industries: Abu Dhabi-based sovereign fund Mubadala Investment Company will inject Rs 9,093.6 crore in Jio Platforms for 1.85% equity stakes in the company. This is going to be the sixth investment in the RIL digital unit and so far, Reliance Jio has sold a total of 19% equity stake to several investors, the most notable among them being Facebook. Reliance Industries’ Jio Platforms has raised a total of Rs 87,655 crore in a matter of just six weeks.
Bharti Airtel: The telecom major gave its clarification on agency report that Seattle-based retail giant Amazon is planning to buy a stake in Airtel. The telecom has clarified that it works with digital and OTT platforms from time-to-time but has no other activity to report. Earlier, News agency Reuters reported that Amazon is in early-stage talks to buy stake worth $2 billion (Rs 200 crore) in Bharti Airtel. The report also talked about the possibility of Airtel and Amazon agreeing on a commercial transaction where the former would offer the latter's products at cheaper rates.
Britannia: Promoter Wadia Group plans to raise Rs 4000 crore by selling 5% stake in the company via bock deal. The raised funds are likely to be invested in other companies held by the group.
Circuit filter revisions: Circuit limit of 478 companies have been revised. The circuit limit of companies like 63 Moons, Aavas Financiers, Atul Auto, Balkrishna Industries, D Mart, HCL Infosystem, SpiceJet, Tata Communication has been raised to 10% from 5%. The circuit limit of All Cargo, Astra Micro, GHCL has been raised to 20% from 5%, while the circuit of Ujjivan small finance and TTK Healthcare has been raised to 20% from 10%.
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