Stocks in Focus on January 19: Mindtree, IndiaMart InterMESH, IRFC IPO, Apollo Hospitals to L&T Financial Holding; here are the 5 Newsmakers of the Day
The domestic benchmarks closed with steep losses on Monday, January 18, 2021. All the sectoral indices on NSE ended in the red. The BSE Sensex closed 470 points, 0.96%, down at 48,564 and the NSE Nifty fell 152 points, or 1.06%, to trade at 14,281. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday
Extending the fall for the second straight day, the domestic benchmarks closed with steep losses on Monday, January 18, 2021. All the sectoral indices on NSE ended in the red. The BSE Sensex closed 470 points, 0.96%, down at 48,564 and the NSE Nifty fell 152 points, or 1.06%, to trade at 14,281. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, January 19, 2021. List of such five stocks:
Mindtree: Mindtree on Monday posted a 28.7% quarter-on-quarter rise in its consolidated profit at Rs 326.5 crore for the period ended December 31, 2020. The company has posted a net profit of Rs 253.7 crore in the quarter ended September 30, 2020. Revenue from operations grew 5.1% QoQ to Rs 2,024 crore in the reported quarter against Rs 1,926 crore posted in the previous quarter.
See Zee Business Live TV Streaming Below:
Dollar revenue grew 5% to $27.4 crore against $26.1 crore posted in the previous quarter. EBIT stood at Rs 396.7 crore up 19% from Rs 333.4 crore posted in September quarter. The EBIT margin grew to 19.6% in Q3FY21 against 17.3% posted in Q2FY21. Other income grew by 151% to Rs 61.6 crore in the reported quarter against Rs 24.5 crore posted in the previous quarter. Deal wins for the quarter were at $31.2 crore. Attrition rate stood at 12.5%. Commenting on the December quarter results, Mindtree CEO and Managing Director Debashis Chatterjee said, the company is witnessing strong business momentum across all verticals with significant demand for cloud, data and analytics capabilities.
IndiaMart InterMESH: B2B e-commerce company IndiaMart InterMESH on Monday reported a 15% QoQ rise in net profit at Rs 80 crore for the quarter ended December 31, 2020. The company has posted a net profit of Rs 70 crore in the quarter ended September 30, 2020. Revenue from operations grew 6% to Rs 174 crore against Rs 163 crore posted in the previous quarter. EBIT stood at Rs 84 crore, up 9% from Rs 77 crore posted in last quarter. EBIT Margin advanced by 1% to 48% in Q3FY21 compared to 47% posted in Q2FY21. Besides, the company's board has also approved raising of funds up to Rs 1,100 crore.
IRFC IPO: The Rs 4,633 crore IPO of Indian Railway Finance Corporation (IRFC)was subscribed 65% on the first day of subscription. The retail quota was subscribed 1.25 times. Today is the second day for the subscription of the issue which will close on January 20, 2021. The company has fixed price band for its public issue at Rs 25-26 per share. The company has already garnered Rs 1,390 crore by placing nearly 53.46 crore equity shares to anchor investors.
Apollo Hospitals: The healthcare company has opened QIP worth Rs 1,000 crore on Monday with floor price set at Rs 2,508.58 per share (at 5% discount on Monday's closing price of Rs 2,609). The proceeds of the QIP will be used in inorganic growth, debt reduction and investment in building digital capabilities.
L&T Financial Holding (LTFH): The board of the non-bank lender LTHF on Monday approved the plan to raise up to Rs 3,000 crore through the rights issue. The offer will open on February 1, 2021, and close on February 15, 2021. The lender has fixed a price of Rs 65 per equity share for the offer and an entitlement ratio at 17:74 (17 equity shares for every 74 shares held by the Eligible Equity Shareholders of the company), as on the record date, which has been fixed on January 22, 2021.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.