Stocks in Focus on April 19: Macrotech Developers, HDFC Bank, Mindtree, Pharma Stocks to KEC International; here are the 5 Newsmakers of the Day
Domestic equity markets witnessed a see-saw traded and closed with a modest gain on Friday, April 16, 2021.
Domestic equity markets witnessed a see-saw traded and closed with a modest gain on Friday, April 16, 2021. The domestic stocks rose amid the gains in global equity markets as investors sentiment boosted after the many big companies worldwide posted a good profit for the quarter ended last month. The Sensex added 28.35 points, or 0.06 per cent, to finish at 48,832.03. The Nifty 50 climbed 36.40 points, or 0.25 per cent, to settle at 14,617.85. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, April 19, 2021. List of such five stocks:
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Macrotech Developers: Macrotech Developers will list its equity shares on Indian stock exchanges today, i.e. on Monday, April 19. The initial public offering (IPO) of the real estate major, which was open for subscription from April 7-9, 2021, was subscribed 1.36 times on the final day of bidding. . The IPO had a price band of Rs 483-486 per share. The real estate developer wanted to raise Rs 2,500 crore through the fresh issuance of shares.
Post Market Results: HDFC Bank + ICICI Lombard + Mindtree + MMTC + BEPL
HDFC Bank: The bank has reported an 18% YoY rise in profit after tax at Rs 8,186 crore for the quarter ended March 31, 2021. The private lender has posted a net profit of Rs 6,928 crore for the same period last year. Net Interest Income (NII) rose 12.6% YoY to Rs 17,120 crore against Rs 15,204 crore posted last year. The bank’s net interest margin stood at 4.2% for Q4FY21 against 4.3% posted in Q4FY20. The country’s largest private-sector lenders loan book grew by 14% in Q4FY21 of which retail loan stood at 6.7% and corporate grew by 22%. Retail loan is 47% of the total book. The bank’s Gross Non-performing Asset ratio stood at 1.32% during the period, as compared with 1.38% reported in the October-December quarter. The net NPA ratio stood at 0.4% in Q4FY21 against 0.36% reported in the December quarter.
ICICI Lombard: ICICI Lombard General Insurance has reported a 22.6% year-on-year rise in its profit at Rs 346 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 282 crore in the same quarter last year. The gross direct premium income (GDPI) stood at Rs 3,478 crore, up 9.4% from Rs 3,181 crore posted last year. The board of directors has proposed a final dividend of Rs 4 per share for FY21.
Mindtree: The company has reported a 2.8% quarter-on-quarter decline in consolidated profit at Rs 317.3 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 326.5 crore in the previous quarter. Consolidated revenue grew 4.2% to Rs 2,109 crore in Q4FY21 against Rs 2,024 crore posted in Q3FY21. In dollar terms, the mid-tier IT firm’s revenue grew 5.1% QoQ to $28.8 crore against $27.4 crore reported in the previous quarter. EBIT declined by 1.4% to Rs 391.3 crore against Rs 396.7 crore. EBIT margin QoQ contracted by 1% to 18.6% in Q4FY21 against 19.6% reported in Q3FY21. The firm announced a final dividend of Rs 17.5 per share. Its attrition rate stood at 12.1%. Management of the company said, “As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book, and our strategic investments positions us well to deliver double-digit growth and sustain EBITDA above 20%.
MMTC: The state-owned MMTC has reported a consolidated loss of Rs 52.2 crore for the quarter ended March 31, 2021, as against a profit of Rs 12.8 crore posted in the same quarter last year. Consolidated revenue grew 39% to Rs 11,514.4 crore in the reported quarter against Rs 8,294.7 crore posted last year. EBITDA stood at Rs 10.9 crore, down 78% from Rs 49.4 crore reported last year. The margins for Q4FY21 stood at 0.09% against 0.6% reported in Q4FY20.
BEPL: The company has reported 21 times year-on-year jump in consolidated profit at Rs 163.5 crore for the quarter ended March 31, 2021. It has posted a net profit of Rs 7.8 crore for the same quarter last year. Consolidated revenue grew 89% to Rs 473.5 crore against Rs 251 crore reported last year. EBITDA stood at Rs 219 crore, up 17 times as against Rs 12.7 crore. The margins grew to 50% in Q4FY21 against 5% reported in Q4FY20.
Glenmark + Cipla/Cadila/Dr Reddy's/Jubilant Pharmova
Glenmark Pharmaceuticals: The pharma company on Saturday said that its wholly-owned arm Glenmark Life Sciences has filed preliminary papers for an initial public offer with market regulator SEBI. The offer comprises a fresh issue of up to Rs 1,160 crore and an offer for sale of up to 73,05,245 equity shares of Glenmark Life Sciences Ltd.
Cipla/Cadila/Dr Reddy's/Jubilant Pharmova: Major Pharma companies have announced voluntary price cuts for Remdesivir Injections after the Centre’s intervention to ensure its affordable availability. Cadila Healthcare’s Remdac will now cost Rs. 899 instead of Rs. 2,800. Dr Reddy’s Redyx will be available at Rs. 2,700 instead of Rs. 5,400. Cipla’s Cipremi will cost Rs. 3,000 instead of Rs. 4000. Jubilant's Jubi-R will now cost Rs. 3,400 instead of Rs. 4,700. Besides, theUnion Minister Mansukh Mandviya said on Sunday the production of Remdesivir will be doubled to 3 lakh vials each day in the next 15 days.
Industrial Oxygen: Union Government on Sunday said that it has prohibited the supply of oxygen for industrial purposes by manufacturers and suppliers forthwith from April 22, 2021, in wake of a surge in its demand for covid-19 patients in hospitals. Nine major sectors have been exempted from the order.
KEC International + Adani Green
KEC International: KEC International Limited (KEC) has signed project/ novation agreements with Warora-Kurnool Transmission Limited (WKTL), a subsidiary of Adani Transmission Limited (ATL) for Rs. 477 crores to complete the balance work of the Transmission lines in the states of Andhra Pradesh, Maharashtra and Telangana and release of the earlier dues of this project.
Adani Green: Adani Renewable Energy Holding Fifteen Limited, a wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has been awarded a project capacity of 150 MWac Solar Power Project from Torrent Power. The fixed tariff for this project capacity is Rs. 2.22/ kWh for 25 years. The Project is expected to be commissioned by Q3 FY2023. Currently, 3,520 MWac of renewable energy projects are operational. With this, AGEL now has a total portfolio of 15,390 MWac of renewable energy project capacity, out of which 11,870 MWac projects are under implementation.
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