Stocks in Focus on January 18: HDFC Bank, L&T Finance Holdings, Piramal Enterprises, Metropolis Healthcare to IRFC IPO; here are the 5 Newsmakers of the Day
Stock markets fell sharply on Friday, January 15, 2021. The BSE Sensex closed 549.49 points or 1.11% down at 49,035.67 and the NSE Nifty 50 fell 161.92 points or 1.11% to close at 14,434.70. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday
Stock markets fell sharply on Friday, January 15, 2021. The BSE Sensex closed 549.49 points or 1.11% down at 49,035.67 and the NSE Nifty 50 fell 161.92 points or 1.11% to close at 14,434.70. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, January 18, 2021. List of such five stocks:
HDFC Bank: India's largest private sector lender HDFC Bank on Saturday reported 18% rise in its net profit at Rs 8,758 crore for the quarter ended December 31, 2020, which is quite high above the street estimates. The bank has posted a net profit of Rs 7,417 crore in the corresponding quarter last year. Zee Business analysts estimated a net profit of Rs 8,130 crore. The lender's net interest income (NII) grew 15.6% YoY in the reported quarter to Rs 16,317 crore against Rs 14,172 crore posted last year. Zee Business estimated NII at Rs 16,283 crore. The lender's provisions and contingencies in the quarter were at Rs 3,414 crore up 12% as compared to Rs 3,044 crore in the corresponding quarter a year ago and a Rs 3,704 crore in the previous quarter ended September 30, 2020. The gross NPA QoQ stood at 0.81% against 1.08%. The NPA QoQ stood at 0.09% against 0.17%.
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L&T Finance Holdings: L&T Finance Holdings on Friday reported a 51 per cent YoY decline in net profit at Rs 291 crore during the third quarter ended December 31, 2020. The company's net profit stood at Rs 591 crore in the corresponding quarter last year. The non-banking financial company's (NBFC's) total income from operations during the quarter declined 3.5% to Rs 3,503 crore from Rs 3,630 crore reported in the year-ago quarter. The NBFC's gross NPA improved to 5.12% in the reported quarter as against 5.19% posted in the previous quarter. The Net NPA grew to 1.92% against 1.67% reported in the previous quarter. In the reported quarter, the company posted the highest quarterly disbursements since Q1FY20, up by 51% QoQ. Farm Equipment disbursements rose by 43% QoQ at Rs 1,554 crore in Q3 FY21. Two-wheeler disbursements were up 50% at Rs 1,652 crore. Rural disbursements in Q3FY21 up 49% QoQ. L&T Finance Holdings is an arm of engineering firm Larsen & Toubro.
PEL/DHFL: Piramal Group has won the bidding for the beleaguered mortgage lender Dewan Housing Finance Corp. Ltd (DHFL). The Committee of Creditors (CoC) on January 15, 2021, voted in favour of the Piramal Group, which will pay Rs 37,300 crore. The company has won the bid for the beleaguered mortgage under the Insolvency and Bankruptcy Code.
Metropolis Healthcare: The Board of Directors of the company has approved the acquisition of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. (Hitech). Metropolis will acquire 100% equity of Dr. Ganesan’s Hitech Diagnostic Centre in a combination of cash and stock deal. The cash consideration will be Rs 511 Crores and Metropolis will issue up to 4,95,000 equity shares of Face Value Rs.2/- each on preferential basis, subject to Shareholders' approval, to the Promoter Group of Hitech. The Cash consideration will be funded through internal accruals and Debt of up to Rs 300 Crores. Metropolis will get access to 31 laboratories including 3 NABL and ICMR accredited laboratories and 68 collection centres of Hitech. This acquisition is expected to be completed within 3 months
IRFC IPO: The Rs 4,633 crore IPO of Indian Railway Finance Corporation (IRFC) will open for subscription today, on January 18, 2021, and the same will close on January 20, 2021. The company has fixed price band for its public issue at Rs 25-26 per share. This will be the first IPO in 2021. The IPO comprises a fresh issue of 1,18,80,46,000 equity shares and an offer for sale of 59,40,23,000 equity shares by the government. The company already garnered Rs 1,390 crore by placing nearly 53.46 crore equity shares to anchor investors on last Friday at Rs 26 per share. The investors include HDFC Trustee Company (25.76%), Nippon Life India (21.58%) and Government of Singapore (16.93%).
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