Stocks in Focus on April 20: Pharma Stocks, ACC, ICICI Prudential, Tech Mahindra to Jubilant Foodworks; here are the 5 Newsmakers of the Day
Key equity indices ended with significant losses on Monday, April 19, 2021. The S&P BSE Sensex dropped 882.61 points or 1.81% to 47,949.42. The Nifty 50 index tumbled 258.40 points or 1.77% to 14,359.45.
Key equity indices ended with significant losses on Monday, April 19, 2021. The S&P BSE Sensex dropped 882.61 points or 1.81% to 47,949.42. The Nifty 50 index tumbled 258.40 points or 1.77% to 14,359.45. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, April 20, 2021. List of such five stocks:
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Pharma Stocks in Focus:
Dr Reddy's/Astrazeneca/Pfizer/Cadila/Gland Pharma: Union Government on Monday announced a ‘Liberalised and Accelerated Phase 3 Strategy of COVID-19 vaccination from May 1, 2021. Under phase 3, anyone above the age of 18 will be eligible to get the COVID-19 vaccine. Vaccine manufacturers would supply 50% of their monthly Central Drugs Laboratory (CDL) released doses to the union government and would be free to supply the remaining 50% doses to State Government and in the open market (hereinafter referred to as other than Government of India channel). Manufacturers would transparently make an advance declaration of the price for 50% supply that would be available to the State Government and in the open market, before May 1, 2021. Private Hospitals would have to procure their supplies of COVID-19 vaccine exclusively from the 50% supply earmarked for other than the Government of India channel. Private Vaccination providers shall transparently declare their self-set vaccination price. The eligibility through this channel would be opened up to all adults, i.e. everyone above the age of 18. Besides, Prime Minister Narendra Modi has called a meeting with vaccine manufacturers today.
Results: ACC + ICICI Prudential
ACC Limited: The cement major on Monday reported a 74% year-on-year (YoY) rise in profit at Rs 557 crore for the period ended March 31, 2021 (Q1 CY21), It had posted a net profit of Rs 320 crore in the same period last year. The company’s revenue grew 22.7% to Rs 4,213.2 crore in Q1FY21 against Rs 3,433 crore posted in Q1CY20. EBITDA stood at Rs 780 crore, up 33%, from Rs 586 crore posted last year. The margin grew to 18.5% in Q1FY21 as compared to 17% posted in Q1FY20. ACC takes its financial year between January and December and CY stands for the current year.
ICICI Prudential: The life insurer has reported a 64% YoY fall in profits at Rs 63.78 crore for the quarter ended Q1FY21. It had posted a net profit of Rs 179.5 crore in the same period last year. The net premium income grew 13% to Rs 11,879 crore as compared to Rs 10,475 crore posted in the same period in the previous financial year. Value of New Business (VNB) for the quarter grew 26% YoY to Rs 591 crore. The VNB margin grew 25.1%. Claims & benefit payouts are up 17% to Rs 22,641 crore from Rs 19,377 crore. March posted the best-ever monthly sales for the Company in any year since inception. The company had a payout of Rs 265 crore, net of reinsurance for 205 claims from the pandemic deaths. It made additional Rs 200 crore Provisions this Quarter. The company's Board of directors recommended a final dividend of Rs 2 per equity share for FY21.
Nestle India: The Company is scheduled to present its financial results for the quarter ended March 31, 2021. The company is expected to report a 10.4% YoY rise in profits at Rs 580 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 525.4 crore in the same quarter last year. The revenue is expected to grow 8.3% to Rs 3,600 crore from Rs 3,325.3 crore posted last year. The EBITDA is likely to grow 10.5% at Rs 885 crore as compared to Rs 800.6 crore posted last year. The margin is likely to grow to 24.6% in Q4FY21 against 24.1% in Q4FY20.
Tech Mahindra: The board has approved the proposal to acquire a 100% stake in DigitalOnUs, Inc. ('DigitalOnUs') directly and indirectly through its wholly-owned subsidiary viz. Tech Mahindra (Americas) Inc. The acquisition will be completed at a total consideration of up to USD 12 crore (Rs 900 crore). For the financial year ending December 31, 2020, the company had revenue of USD 3 crore.
Jubilant Foodworks: There is news in the market that nearly 10 lakh Dominos customers’ data have allegedly been leaked online. The data worth 13 terabytes also include credit card details, 18 lakh order details among others. Jubilant Foodworks says, no customer financial information has been leaked. The company does not store the credit card details and financial details of any customer. Recently there were some issues with information security and these events do not affect the company's operations.
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