Stocks in Focus on October 27: Torrent Pharma, M&M Financial, NTPC, IRCTC to IDBI Bank; here are the 5 Newsmakers of the Day
Benchmark indices ended with steep losses on Monday, October 26, 2020, as the resurgence of the Coronavirus in Europe spooked investors. The BSE 30-share index, Sensex lost 540 points or 1.33 per cent to settle at 40,146. The NSE Nifty-50 index also fell 163 points or 1.36 per cent to settle at 11,768
Benchmark indices ended with steep losses on Monday, October 26, 2020, as the resurgence of the Coronavirus in Europe spooked investors. The BSE 30-share index, Sensex lost 540 points or 1.33 per cent to settle at 40,146. The NSE Nifty-50 index also fell 163 points or 1.36 per cent to settle at 11,768. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, October 27, 2020. List of such five stocks:
Triggers: Certain events, like Result, can create positive/negative reactions in the share market when it opens today. Find them in detail:
Nifty: Tata Motors (post-market), Bharti Airtel (post-market)
F&O: ICICI Prudential (post-market), Amara Raja Batteries (post-market)
Post Market Results: Some companies, like Torrent Pharmaceuticals & M&M Financial, posted their September quarter results after the markets were closed for trading purposes on Friday. These stocks are likely to be in action today when the market will open for trading purposes. Details:
Torrent Pharmaceuticals: Drug firm Torrent Pharmaceuticals on Monday reported a 27% year-on-year rise in profit at Rs 310 crore for the quarter ended September 30, 2020. The company had posted a net profit of Rs 244 crore for the corresponding period of the previous fiscal. Revenue from operations grew 0.6% to Rs 2017 crore against Rs 2005 crore posted last year. EBITDA was 17% up at Rs 635 crore against Rs 541 crore posted last year. The margin grew to 31.5% in Q2FY21 against 27% posted in Q2FY20. In addition, the company’s India revenues grew by 7%. The US revenues were down by 14% (sales impacted due to price erosion in the base portfolio and lack of launches). Brazil down 18% and Germany up 4%.
M&M Financial: Mahindra & Mahindra Financial Services on Monday reported a 20% year-on-year rise in profit at Rs 303.5 crore for the quarter ended September 30, 2020. It had posted a net profit of Ts 252 crore for the corresponding quarter of the previous fiscal. Net Interest Income (NII) grew 5.1% to Rs 1,391 crore against Rs 1,284 crore posted last year. The provisions and write-offs stood at Rs 619.4 crore in Q2FY21. The gross non-performing assets (NPAs) were up slightly down at 7.03% from 7.88%. Net NPA fell to 4.68% from 6.44%.
NTPC: The board of the company will meet on November 2, 2020, to consider share buyback proposal.
IRCTC: The government has appointed merchant bankers for a period of three years for divestment of stake in IRCTC through an OFS
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IDBI Bank: The board of IDBI Bank will meet on October 29, 2020, to consider and approve raising of funds through issue of equity shares through qualified institutions placement (QIP).
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