Stocks in Focus on July 29: Glenmark Life IPO, Rolex Rings IPO, Nestle, Happiest Minds to Tata Motors; here are the 5 Newsmakers of the Day
On Wedensday, the BSE Sensex fell 135.05 points, or 0.26 per cent to close at 52,443.71 and NSE Nifty also lost 37.05 points, or 0.24 per cent, to settle at 15,709.40.
Domestic stock markets fell for the third session in a row on Wednesday, July 28, 2021. Both equity indices declined amid mixed global cues. The BSE Sensex fell 135.05 points, or 0.26 per cent to close at 52,443.71. The NSE Nifty also lost 37.05 points, or 0.24 per cent, to settle at 15,709.40. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, July 29, 2021. List of such five stocks:
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New Listing + Glenmark Life IPO + Rolex Rings IPO
Tatva Chintan Pharma: The shares of Specialty chemical company Tatva Chintan Pharma Chem will debut on the bourses today. The issue price of the IPO was Rs 1,073-1,083 837 per share.
Glenmark Life Sciences IPO: The initial public offer (IPO) of Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, was subscribed 5.78 times on the second day of subscription. Today is the last day for the subscription of the public issue. The QIB portion was subscribed 1.38 times while the NII and retail portion were subscribed 3.39 times and 9.28 times, respectively. The company seeks to raise up to Rs 1,513.6 crore from the primary market investors. The price band of the offer has been fixed at Rs 695-720 per share and investors can bid for a minimum of 20 equity shares, in a single lot, and in multiples of 20 equity shares thereafter. The initial public offer (IPO) will have a fresh issue of equity shares worth up to Rs 1,060 crore and an offer for sale worth Rs 453 crore.
Rolex Rings: The Initial Public Offering (IPO) of Rolex Rings was subscribed 3.84 times on the first day of subscription. The public offer will close on July 30, 2021. The QIB portion saw zero bids, while the NII and retail portions were subscribed 1.34 times and 7.11 times, respectively. The company has set the price band for the issue in Rs 880-900 range. The company seeks to raise Rs 731 crore through the public issue. On the block is a fresh issue of shares aggregating up to Rs 56 crore and an offer for sale of up to 7,500,000 shares worth Rs 675 crore. Investors can bid for a minimum of 16 equity shares and in multiples of 16 thereafter.
Nestle + MGL + United Breweries
Nestle: Packaged food and beverages major Nestle India has reported a 10.7% YoY rise in the profits at Rs 538.5 crore for the second quarter ended June 30, 2021. The company that follows the January-December financial year or calendar year had posted a net profit of Rs 486.60 crore in the corresponding period last year. Revenues from operations grew 14% to Rs 3,476.7 crore as against Rs 3,050.5 crore posted last year. EBITDA grew 10% YoY to Rs 833.9 crore compared to Rs 758.4 crore. The margins stood at 24% in Q2CY21 as against 24.9% posted in Q2CY20. Commentary
- Domestic Sales Growth at 13.7%.
- Export Sales increased by 17.7% due to the timing of exports to affiliates.
- Domestic & Export Sales achieved double-digit growth largely driven by volume & mix.
- Key products MAGGI Noodles, KITKAT, Nestlé MUNCH, MAGGI Sauces, MAGGI MASALAAE-MAGIC posted strong double-digit growth.
- Strong performance in E-Commerce channels, grew by 105% and contributed 6.4% of domestic sales
- In recent times, commodity prices have been rising across oils and packaging materials
Scheme of Arrangement
- Board approves Scheme of Arrangement between the Company and its Members to transfer the entire balance of Rs. 8,37.43 cr standing to the credit of the General Reserves to Retained Earnings
- The amount so transferred shall be available for utilisation by the Company for payout to the Members in accordance with the terms of the Scheme
- Board Approves disinvestment of its entire minority stake of 19.98% in Sahyadri Agro and Dairy Private Limited
Mahanagar Gas: The company that retails CNG and piped cooking gas in Mumbai has reported a 4.1% QOQ decline in the profits at Rs 204 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 212.8 crore in the previous quarter ended March 31, 2021. Revenue from operations dropped 14.2% to Rs 615.5 crore in the reported quarter as against Rs 784.04 crore posted in the previous quarter. EBITDA fell 3.9% QoQ to Rs 304 crore as against Rs 316.2 crore posted in the March quarter. The margins improved to 49.4% in Q1FY22 as against 44% posted in Q4FY21. Other updates:
- CNG Volumes down 22.2% to 1.4 mmscmd v/s 1.8 mmscmd
- PNG volumes down 1.3% to 0.77 mmscmd v/s 0.78 mmscmd
- Total Volumes down 17% to 2.398 mmscmd v/s 2.892 mmscmd
United Breweries: Beer maker United Breweries has reported a consolidated profit of Rs 31 crore for the quarter ended June 30, 2021, as against a loss of Rs 114 crore posted in the corresponding quarter of the last financial year. The revenue from operations grew 121% YoY to Rs 1,119 crore in the reported quarter compared to Rs 507 crore posted last year. EBITDA profit stood at Rs 96 crore as against an EBITDA loss of Rs 96 crore posted last year. The company has posted a margin of 8.5% for Q1FY22.
Happiest Minds + Route Mobile + Sagar Cements + JM Financial
Happiest Minds: IT firm Happiest Minds has reported a 1.2% QoQ decline in the consolidated profit at Rs 35.7 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 36.1 crore in the previous quarter ended March 31, 2021. Revenue from operations grew 10.8% QoQ to Rs 244.6 crore as compared to Rs 220.7 crore posted in the previous quarter. EBIT grew 2.5% to Rs 49.6 crore in the reported quarter as against Rs 48.5 crore posted in the previous quarter. The margin stood at 20.3% in Q1FY22 compared to 22% posted in Q4FY21.
Route Mobile: Communication services firm Route Mobile has reported a 3.4% QoQ decline in the consolidated profit at Rs 34.3 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 35.5 crore in the previous quarter ended March 31, 2021. Revenue from operations grew 4.2% QoQ to Rs 377.5 crore in the reported quarter as against Rs 362.4 crore posted in the previous quarter. EBITDA fell 8.7% QoQ to Rs 45.5 crore as against Rs 49.8 crore posted in the previous quarter. The Margin dropped to 12.1% in Q1FY22 from 13.8% posted in Q4FY21. Besides, the board has decided not to acquire Phonon Communications Private Limited due to non-fulfilment of all the conditions precedents by the Sellers / Target Entity to satisfaction. It added, there is no positive definitive action from the Sellers/Target Entity to proceed with completion of the transaction or further extend the long stop date.
Sagar Cement: The cement manufacturer has reported a 38.9% YoY rise in the consolidated profit at Rs 50 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 36 crore in the corresponding quarter of the previous financial year. Consolidated revenue from operations grew 48.7% to Rs 392.6 crore as against Rs 264.1 crore posted last year. EBITDA grew 23.4% YoY to Rs 107.2 crore as against Rs 86.9 crore posted last year. The margin dropped to 27.3% in Q1FY22 as against 32.9% posted in Q1FY21.
JM Financial: A diversified financial services company JM Financial has reported a 97.5% YoY rise in the consolidated profit at Rs 274.5 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 139 crore in the corresponding quarter of the previous financial year. Consolidated revenue from operations grew 43.5% YoY to Rs 985.8 crore in the reported quarter as against Rs 686.8 crore posted last year. EBITDA grew 34.9% to Rs 624.1 crore as against Rs 462.6 crore posted last year. The margin stood at 63.3% in Q1FY22 as against 67.4% posted in Q1FY21.
Tata Motors + Ashok Leyland
Tata Motors: Tata Motors is looking to increase the prices of its entire range of passenger vehicles from next week as it aims to offset the steep rise in procurement costs of essential materials like steel and precious metals. The Mumbai-based auto major sells a range of passenger vehicles including the Tata Tiago, Tata Tigor, Tata Nexon, Tata Harrier and Tata Safari in the domestic market.
Ashok Leyland: Commercial vehicles (CV) major Ashok Leyland has reportedly said that the company will be launching its first electric light commercial vehicle (e-LCV) in India by the end of December 2021. It has secured 2,000 units. The group has plans to invest around $200 million in the UK-based Switch Mobility - a combined entity of Ashok Leyland's electric CV operations and the erstwhile Optare of the UK.
Jubilant Ingrevia + Apollo Hospitals + Bulk Deals
Apollo Hospitals: Sands Capital Management has increased its stakes in the company by 2.2%. With this stake purchase, Sands Capital Management’s stake has increased in Apollo Hospitals from 7% to 9%.
Jubilant Ingrevia: East Bridge Capital Master Fund has sold 2.23% stakes of the company on July 26, 2021. With this sale, the company’s stake was reduced from 5.61% to 3.38%.
Anup Engineering: PGIM India Small Cap Fund acquired 50,000 Shares at 1024.77/share.
Equitas Holdings: CDC Group Plc sold 46.04 Lakh shares at 130/share on NSE and 33.96 lakh Shares at 130/share on BSE. It sold 80 lakh shares (2.34%) at 130/share.
Apollo Tricoat Tubes: Fumistic Gaming LLP bought 2.43 lakh shares in the company at Rs 1644.41/share.
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