Stocks in Focus on June 24: Apollo Hospital, AllCargo, India Pesticides, Orchid Pharma to Vardhman Special Steels; here are the 5 Newsmakers of the Day
Domestic equity markets reversed the early gains and closed near the day’s low with modest losses of around a half per cent on Wednesday, June 23, 2021.
Domestic equity markets reversed the early gains and closed near the day’s low with modest losses of around a half per cent on Wednesday, June 23, 2021. The S&P BSE Sensex dropped 282.63 points or 0.54 per cent to close at 52,306.08. The Nifty 50 index dropped 85.80 points or 0.54 per cent to 15,686.95. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Thursday, June 24, 2021. List of such five stocks:
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Apollo Hospital + AllCargo + Munjal Showa
Apollo Hospital: The multispecialty health care unit has reported a 19% YoY decline in the consolidated profit at Rs 170 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 210 crore in the same quarter of the previous financial year. Consolidated revenue from operations fell 1.9% to Rs 2,868 crore in the reported quarter compared to Rs 2,922 crore posted last year. EBITDA stood at Rs 411.8 crore, up 8.4% from Rs 380 crore posted last year. The margin improved to 14.4% in Q4FY21 from 13% posted in Q4FY20. It reported an exceptional item of Rs 198 crore last year due to the sale of Apollo Munich. The board has approved the acquisition of the subsidiary Apollo HealthCo (AHL). It will invest Rs 7 lakh. The company has merged its offline, online and telemedicine business and created India’s largest omnichannel digital health platform. It puts Apollo’s backend pharmacy business and other pharmacy business in Apollo HealthCo. The company has set a target of opening 5000 offline pharmacy stores. It has set a revenue growth target of 18-20% in the next three years.
AllCargo Logistics: The logistics company has reported an 89.1% YoY decline in the consolidated profit at Rs 5.9 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 54.1 crore in the same quarter of the previous financial year. Consolidated revenue from operations grew 79% to Rs 3,349.3 crore compared to Rs 1,871 crore posted last year. The EBITDA stood at Rs 193 crore, up 81.5% from Rs 106.3 crore posted last year. The margin stood at 5.8% in Q4FY21 compared to 5.7% posted in Q4FY20. Profit declined due to an exceptional loss of Rs 81.2 crore.
Munjal Showa: The automotive parts manufacturing company has reported a 43.9% YoY decline in consolidated profit at Rs 5.8 crore for the quarter ended March 31, 2021. In had posted a profit of Rs 10.4 crore in the same quarter of the previous financial year. Consolidated revenue from operations grew 26.6% to Rs 316.5 crore compared to Rs 259 crore posted last year. The EBITDA fell 30.4% to Rs 7.2 crore compared to Rs 10.4 crore posted last year. The margin contracted to 2.3% n Q4FY21 compared to 4.2% posted in Q4FY20.
Shyam Metalics + Sona Comstar + India Pesticides
Shyam Metalics: The shares of Shyam Metalics will list on the stock exchanges, BSE & NSE, today. The IPO which was open from June 14-17, 2021, was subscribed 121.4 times. The shares were offered in the price band of Rs 303-306 per share.
Sona Comstar: The shares of Sona BLW Precision Forgings (Sona Comstar) will list on the stock exchanges, BSE & NSE, today. The IPO, which was open from June 14-17, 2021, was subscribed 2.28 times. The shares were offered in the price band of Rs 285-291 per share.
India Pesticides: Rs 800 crore initial public offering (IPO) of Pesticides India was subscribed 1.29 times on the first day of subscription. Today is the second day for the subscription of the issue, which will close on Friday, June 25, 2021. The price band of the issue has been fixed at Rs 290-296 per share. On the block are a fresh issue of up to Rs 100 crore and an offer for sale of up to Rs 700 crore worth of shares.
Orchid Pharma: Dhanuka Laboratories, one of the promoters of Orchid Pharma proposes to sell 32.80 lakh shares, representing 8.04% of the total issued and paid-up share capital of the company. Orchid Pharma has set the floor price for its offer for sale at Rs 375, a huge discount of 72% to the stock’s closing price of Rs 1,325. The OFS will open for subscription on June 24 for non-retail investors and on June 25 for retail investors. The OFS is being conducted to meet the minimum public shareholding of 25 per cent, as currently, the promoters hold 98.04 per cent.
Wabco India: The non-retail portion of the offer for sale (OFS) of Wabco India was subscribed 1.98 times on the first day of subscription. The offer will open for subscription by retail investors today 10% of the OFS is reserved for retail investors. A total of 6.50 lakh shares (5 lakh shares as base issue and 1.50 lakh shares as greenshoe option) were put on the block by promoter ZF International UK. It has set a floor price of Rs 6,550 per share.
Vardhman Special Steels + Godawari Power
Vardhman Special Steels ltd: Vardhman Special Steels Limited has been granted the long-awaited Environmental Clearance for expansion of capacity at its existing plant in Ludhiana, upto 2,80,000 tons per annum of rolled production. The Company applied for the said approval in CY 2019 and since then has been making continuous and untiring efforts and pitching its case before the concerned authorities for the grant of environment clearance. With this approval, the path for enhancement of capacity is cleared. To begin with, the current rolling capacity of 200,000 tons per annum would be increased to 250,000 tons.
Godawari Power & Ispat: Godawari Power has been granted the environmental clearance for enhancement of Iron Ore Production Capacity from 1.405 MTPA to 2.35 MTPA in Ari Dongri Iron Ore Mines situated at Village Kachche, Dist: Baster, Kanker, Chhattisgarh and for setting up of Beneficiation Plant of 0.6 MTPA capacity. The production of the enhanced iron ore mining capacity shall be started in the next 2-3 months. Post commencement of commercial operation of enhanced mining capacity and ramping up of the production, the 100% iron ore requirement of the Company, shall be met from captive mines, which lead to substantial cost-saving, as approx. 20% of our exiting requirement is met from outside purchases, the cost of which is very high and as compared to market prices.
UFO Movies: P5 Asia Holding Investments (Mauritius) Ltd sold 2.02% shakes in UFO movies on June 22, 2021.
LB Balakrishnan & Bros: Promoter sold 0.18% stakes from June 16-17, 2021.
Usha Martin: Promoter sells 0.033% stakes from June 22-23, 2021.
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