Stocks in Focus October 18: HCL Technologies, HDFC Bank, PNB Housing, Dixon Technologies, Jubilant Ingrevia; here are the 5 Newsmakers of the Day
Benchmarks indices ended with strong gains on Thursday, extending their winning run to the sixth consecutive session. The barometer index, the S&P BSE Sensex, rallied 568.90 points or 0.94% to 61,305.95.
Benchmarks indices ended with strong gains on Thursday, extending their winning run to the sixth consecutive session. The barometer index, the S&P BSE Sensex, rallied 568.90 points or 0.94% to 61,305.95. The Nifty 50 index added 176.80 points or 0.97% to 18,338.55. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, October 18, 2021. List of such five stocks:
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HCL Technologies + HDFC Bank + Avenue Supermarts + Indiabulles Real Estate + Cyient
HCL Technology: IT Company HCL has reported a 1.7% QoQ rise in the consolidated profit at Rs 3,259 crore for the quarter ended September 2021. It had posted a profit of Rs 3,205 crore in the previous quarter ended June 30, 2021. Revenue from operations grew 2.9% to Rs 20,655 crore as compared to Rs 20,068 crore posted in the previous quarter. $Revenue grew 2.6% to Rs 279.1 crore as against $272 crore posted in the June quarter. EBIT remained almost flat and rose just 0.3% to Rs 3,944 crore as compared to Rs 3,931 crore posted in the previous quarter. Margin dropped to 19.1% in Q2FY22 as against 19.6% posted in Q1FY22. The company has declared an interim dividend of Rs 10 per share and fixed October 23, 2021, as the record date for it. Attrition stood at 15.7% vs 11.8% (QoQ). The management of the company has said that revenue is expected to grow in double digits in constant currency for FY22. EBIT margin is expected to be between 19.0% and 21.0% for FY22. Q2 TCV of New Deal wins at US$ 2,245 mn registering 38% YoY growth. All-round growth across verticals and geographies YoY on a constant currency basis. Our net employee addition hit an all-time high of 11,135 this quarter.
HDFC Bank: The private lender has reported a 17.5% YoY rise in the profit at Rs 8,834 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 7,513 crore posted in a year-ago quarter. Its net interest income (NII) -- the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors -- rose 12% YoY to Rs 17,685 crore for the quarter. NII stood at Rs 15,776 crore in the year-ago quarter. Core net interest income (NIM) for the quarter came in at 4.1 per cent (stable). Provisions and contingencies for the quarter rose 6% to Rs 3,924 crore compared with Rs 3,703 crore in the year-ago quarter. Gross non-performing assets as a percentage of gross advances came in at 1.35% compared with 1.47 per cent in the June quarter. Net non-performing assets stood at 0.4% in Q2FY22 as against 0.48% posted in Q1FY22. The restructured book stood at Rs 17,397 crore, 1.45% of the total Book. Retail credit growth improved to 13% YoY, driven by healthy growth in the home, auto, PL. The commercial and rural business remains on track to achieve ~25% YoY growth in FY22, aided by market share gains in semi-urban and rural areas with improved customer acquisition. Subsidiaries
- HDB FINANCIAL SERVICES: Revenue up 12.5%, PAT Rs 192 crore vs Loss
- HDFC SECURITIES: Revenue: up 42% , PAT up 45%
- Outlook Positive
Avenue Supermarts: Avenue Supermarts, the company that runs the D-Mart supermarket chain, has reported a 113.2% YoY rise in profit at Rs 448.9 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 210.5 crore in a year-ago quarter. Its revenue from operations grew 43.1% YoY to Rs 7,469.64 crore as against Rs 5,218.15 crore. EBITDA grew 106.3% YoY to Rs 670.1 crore as against Rs 324.9 crore posted last year. Margins improved to 9% in Q2FY22 as against 6.2% posted in Q2FY21. Two years and older DMart stores grew by 23.7% in September 2021 as compared to September 2020.
Indiabulls Real Estate: Realty developer Indiabulls Real Estate has reported a consolidated net profit of Rs 5.5 crore for the quarter ended September as against a net loss of Rs 76 crore posted in a year-ago quarter. Its revenue on a consolidated basis rose 17.4 times to Rs 349 crore as compared to Rs 20 crore posted last year. EBITDA stood at Rs 22 crore as against a negative EBITDA of Rs 41 crore posted last year. The company has also announced Chairman and Non-Executive Director Sameer Gehlaut has submitted his resignation with effect from December 31, 2021. After completion of the proposed merger between Embassy Group and Indiabulls Real Estate the combined entity will be renamed Embassy Developments Ltd and will be co-headquartered in Mumbai and Bengaluru, the company said.
Cyient Limited: Global technology solutions company Cyient has reported a 5% QoQ rise in the consolidated profit at Rs 121 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 115 crore in the previous quarter ended June 30, 2021. Revenue from operations grew 5% to Rs 1,112 crore as against Rs 1,058 crore posted in the June quarter. EBIT grew 14% to Rs 156 crore as against Rs 137 crore posted in the previous quarter. Margin stood at Rs 14% in Q2FY22 as against 13% posted in Q1FY22.
NALCO + HINDALCO + VEDL: Aluminum companies will be in focus today as US company Alcoa has released its quarterly results and records the highest-ever quarterly profit. Alcoa's has reported a profit of $39 crore for the third quarter ended September 30, 2021, against a loss of $22 crore posted in a year-ago quarter. Its revenue stood at $311 crore as against $237 crore posted last year. Adjusted EBITDA stood at $73 crore against $28.4 crore. Margin improved to 23.5% in Q3FY21 against 12% posted in Q3FY20.
PNB Housing: PNB Housing Ltd said that its Board of Directors has decided to call off the proposed Rs 4,000 crore deal with the US-based Carlyle Group. Carlyle Group will also withdraw the open offer issued at the rate of Rs 403 per share. PNB Housing will now have to look to other sources for funds. The company decided due to a delay in legal proceedings.
Dixon Technologies + PVR
Dixon Technologies: Domestic electronics manufacturing firm Dixon Technology has started manufacturing 5G millimetre waves smartphones which will be the first set of devices in the segment to be exported from India, a top company official said on Sunday. Dixon has set up a manufacturing unit with an annual capacity of 70 lakh per year 5G millimetre (mm) phones and is setting up another factory with an annual capacity of 30 million smartphones in Noida. The company has bagged a contract from US-based Orbic which sells smart devices for US-based telecom operators.
PVR: PVR Cinemas announced on Friday that it has closed a deal with the International Cricket Council (ICC) to live screen the ICC Men's T20 World Cup 2021 in India. The qualification stages of the tournament will commence on October 17, 2021, while the finals will be held on November 14, 2021. PVR Cinemas association with ICC involves live screening of all India games along with the semi-finals and final. The matches will be streamed across over 75 cinemas in 35 plus cities in the country.
Jubilant Ingrevia/ IOL Chemicals/ Laxmi organic: The government has imposed definitive anti-dumping duty on acetyl and its derivatives imports from China for the next five years. 24-44% anti-dumping duty will be imposed on imports from China.
MCX: Rakesh Jhunjhunwala reduced stake in the company. His stakes have declined below 1% in the September quarter as against 4.9% in the June quarter.
Tata Consumers: LIC has raised its stakes in the company in the September quarter from 1.69% to 2.72%.
Ramco Cement: LIC has raised its stakes in the company in the September quarter from 4.35% to 5.35%.
Shree Cement: LIC has bought 1.14% stakes in the company in the September quarter.
Aarti Industries: LIC has raised its stakes in the company from 1.77% to 3.34% in the September quarter
Blue Dart: LIC and Bright Star Investment have reduced their respective stakes in the company. LIC has reduced its stakes from 1.8% to 1.65% while Bright Star's stake has declined from 1.68% to 1.47%.
Kotak Bank: LIC has increased its stake in the lender from 4.38% to 4.96% in the September quarter.
Time Technoplast: LIC has reduced its stakes in the company from 1.72% to 1.62% in the September quarter.
Yes Bank: Changes were made in shareholding in the September quarter. Bay Tree India Holdings sold a 2.71% stake. Amansa Holdings' stake increased from 1.2% to 1.25%. ICICI Bank's stake was down from 3.99% to 2.99%. LIC's stake was reduced from 4.99% to 4.38%. QIB share increased from 1.58% to 5.97%.
Nitin Spinners: Dolly Khanna increased her share in the September quarter from 1.24% to 1.64%.
Butterfly Gandhimathi: Investor Dolly Khanna reduced the stake in the September quarter from 1.37% to 1.19%.
Radico Khaitan: Investor Mukul Agarwal bought a 1.05% stake in the company in the September quarter.
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