Stocks in Focus on August 3: PNB, Balaji Amines, Hotel stocks, NCC to Minda Industries; here are the 5 Newsmakers of the Day
On Monday, the undertone of the market was bullish after the GST collection for July crossed Rs 1 lakh crore mark as the BSE Sensex climbed 363.79 points, or 0.69 per cent, to close at 52,950.63, while NSE Nifty 50 also surged 122.10 points, or 0.77 per cent, to settle at 15,885.15.
Domestic equity stock markets on Monday, August 2, 2021, gained more than half a per cent amid positive global cues. The undertone of the market was bullish after the GST collection for July crossed Rs 1 lakh crore mark. The BSE Sensex climbed 363.79 points, or 0.69 per cent, to close at 52,950.63. The NSE Nifty 50 also surged 122.10 points, or 0.77 per cent, to settle at 15,885.15. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, August 3, 2021. List of such five stocks:
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PNB + RBL Bank
Punjab National Bank: The public sector lender Punjab National Bank (PNB) on Monday reported a 232% YoY rise in the profit at Rs 1,023 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 308 crore in the same quarter last year. The Net Interest Income (NII) grew 7% YoY to Rs 7,226 crore as against Rs 6,748 crore posted last year. The total provision and contingencies during the quarter under review dropped 33% YoY to Rs 3,248 crore from Rs 4,836 crore posted last year. The lenders Gross NPAs remained almost flat at 14.3% in Q1FY22 compared to 14.12% posted in Q4FY21. The net NPA grew to 5.84% in Q1FY22 as against 5.73% posted in Q4FY21. Management says the situation due to the Covid-19 pandemic continues to be uncertain and is being evaluated continuously. The total recovery including cash recovery and up-gradation, during Q1FY22, improved to Rs 8,270 crore
RBL Bank: The private sector lender on Monday reported a loss of Rs 459 crore for the quarter ended June 30, 2021, as against a profit of Rs 141 crore posted in the same quarter last year. The Net Interest Income (NII) dropped 7% to Rs 970 crore as against Rs 1,041 crore posted last year. Provisions and contingencies during the quarter under review grew 2.8 times YoY to Rs 1,449 crore as against Rs 514 crore posted last year. It made provisions of Rs 734 crore in the previous quarter ended March 31, 2021. The bank’s net interest margin (NIM) stood at 4.36% in the quarter as against 4.9% reported last year. The lender's gross non-performing assets (NPAs) deteriorated to 4.99% in Q1FY22 from 4.3% in Q4FY21. The net NPA fell to 2.01 per cent from 2.12 per cent sequentially. Other details:
- Retail: Wholesale mix at 57:43
- Retail advances grew 7% YOY, Wholesale Advances Down 9%
- Effect of the second wave of the COVID on asset quality was rather severe
- Decided to take a firm view on asset quality and make accelerated provisions during the quarter
- Most of the Quality impact has been on the Micro banking portfolio and will not require to make additional provisions
Balaji Amines + Castrol + CG Power + Orient Cement
Balaji Amines: The chemical manufacturing company has reported a 200% YoY rise in the consolidated profit at Rs 90.4 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 33 crore in the same quarter last year. Sequentially, it reported a profit of Rs 84.5 crore in the previous quarter ended March 31, 2021. Revenue from operations grew 102% YoY to Rs 451 crore in the quarter under review from Rs 223 crore reported last year. The company reported a revenue of Rs 414 crore in the previous quarter. EBITDA grew 169% YoY to Rs 143 crore as against Rs 53.23 crore posted last year, while on the QoQ basis, the EBITDA stood at Rs 129 crore in the March quarter. The company posted a margin of 32% in Q1FY22 from 24% posted in Q1FY21.
Castrol: The oil industry company has reported a 114% YoY rise in the profit at Rs 140 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 65.4 crore in the same quarter last year. Sequentially, the profit dropped 43% as it posted a profit of Rs 244 crore in the quarter ended March 31, 2021. Revenue from operations grew 81% YoY to Rs 890 crore as against Rs 491 crore posted last year. Revenue dropped 22% QoQ as it reported a revenue of Rs 1,139 crore in the previous quarter. EBITDA grew to 107% in the quarter under review to Rs 197 crore as against Rs 95 crore posted last year. IT posted a margin of 22.2% in Q1FY22 as compared to 19.4% posted in Q1FY21. The board had recommended a dividend of Rs 2.50 per share.
CG Power: The manufacturer of products related to power generation, transmission, and distribution has reported a consolidated profit of Rs 54 crore for the quarter ended June 30, 2021. It had posted a consolidated loss of Rs 231 crore in the same quarter last year. Consolidated revenue from operations grew 189% to Rs 1,050 crore in the quarter under review from Rs 363 crore posted last year. EBITDA profit stood at Rs 120 crore as against an EBITDA loss of Rs 41 crore.
Orient Cement: The cement manufacturing company has reported a 10% 249% YoY rise in the profit at Rs 89.5 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 25.6 crore in the same quarter last year. The revenue from operations grew 68% to Rs 690 crore in the quarter under review as against Rs 410 crore posted last year. The EBITDA grew 89% to Rs 186 crore as compared to Rs 98.2 crore posted last year. The margin improved to 27% in Q1FY22 as against 24% posted in Q1FY21.
Maharashtra + Mumbai Reopening
Hotels + Restaurant + Retail Stocks: Maharashtra government has announced a relaxation on corona restrictions in 25 districts including permission to shops to open till 8 pm. Meanwhile, Brihanmumbai Municipal Corporation (BMC) on Monday issued revised guidelines for the city (Mumbai), permitting non-essential shops to operate till 10 pm on all days. Under the relaxations issued, the hotels and restaurants can now remain open on weekends till 4 pm. Though the malls will open, no multiplexes, theatres and cinema halls will operate till further order.
NCC + VA Tech Wabag:
NCC: NCC has received four new orders totalling Rs 1,679 crore (exclusive of GST) in July 2021. Out of the total orders, one order valuing Rs 732 crore pertains to Building Division and two orders valuing Rs 730 Crore pertain to Water & Environment Division and one order valuing Rs 217 Crore pertains to Electrical Division. These orders are received from State Government agencies and do not include any internal orders.
Va Tech Wabag: WABAG expands Global footprint with technologically advanced Oil & Gas orders worth Rs 1,230 crore (165 million USD) in Russia. It has secured a breakthrough Engineering and Procurement (`EP') order from Amur Gas Chemical Complex LLC., CAGCC') in Russia.
Minda Industries: Auto components maker Minda Industries Ltd on Monday said that it has launched a so-called qualified institutional placement (QIP) to raise capital from institutional investors. The company has fixed a floor price of Rs734.84 per share (discount of 2.5% on CMP of Rs 753.70) and can offer a discount up to 5% to investors on the floor price.
08:10 AM IST