Stocks in Focus on June 25: ONGC, MIDHANI, India Pesticides, Aarti Industries to IT Stocks; here are the 5 Newsmakers of the Day
Benchmark indices ended a volatile session with decent gains on Thursday, June 24, 2021. The S&P BSE Sensex rose 392.92 points or 0.75 per cent at 52,699. The Nifty 50 index gained 103.50 points or 0.66 per cent at 15,790.45
Benchmark indices ended a volatile session with decent gains on Thursday, June 24, 2021. The S&P BSE Sensex rose 392.92 points or 0.75 per cent at 52,699. The Nifty 50 index gained 103.50 points or 0.66 per cent at 15,790.45. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Friday, June 25, 2021. List of such five stocks:
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ONGC + Ashok Leyland
ONGC: The energy company has reported a 435.5% QoQ rise in the standalone profit of Rs 6,734 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 1,258 crore in the previous quarter ended December 31, 2020. The company’s revenue from operations grew 24.5% QoQ to Rs 21,189 crore from Rs 17,024 crore posted in the previous quarter. EBITDA stood at Rs 10,125 crore, up 21.3% QoQ from Rs 8,346 crore. The EBITDA margin fell 47.8% in Q4FY21 from 49% posted in Q3FY21. The company has reported an exceptional gain of Rs 2,613 crore. Besides, the board has recommended a final dividend of Rs 1.85 per equity share. It also appointed Mr Subhash Kumar, CEO, as the Chairman & Managing Director of the company.
Ashok Leyland: The automotive manufacturer has reported a YoY profit of Rs 241 crore for the quarter ended March 31, 2021. It had posted a loss of Rs 57 crore in the same quarter of the previous financial year. Revenue from operations grew 82.4% to Rs 7,000 crore as compared to Rs 3,838 crore. It has posted an EBITDA of Rs 533 crore, up 191.3% YoY from Rs 183 crore posted last year. EBITDA Margin grew to 7.6% in Q4FY21 from 4.8% posted in Q4FY20. The board has recommended a final dividend of Re 0.60 per share.
PTC India + Take Solution + MIDHANI + Nath Bio
PTC India: The energy company has reported a 51.1% YoY rise in the consolidated profit at Rs 68 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 45 crore in the corresponding quarter of the previous financial year. Consolidated revenue from operations grew 7.8% to Rs 3,916 crore from Rs 3,634 crore posted last year. The EBITDA stood at Rs 364 crore, down 3.4% compared to Rs 377 crore posted last year. The EBITDA margin fell to 9.3% in Q4FY21 compared to 10.4% posted in Q4FY20. Besides, the board has recommended a final dividend of Rs 5.50 per share. Board also approves acquisition of Energy Consulting Business undertaking of IL&FS Energy Development Company, a Group Company of IL&FS.
Take Solutions: The management consulting company has reported a consolidated YoY loss of Rs 68 crore for the quarter ended March 31, 2021. It had posted a loss of Rs 158 crore in the corresponding quarter of the previous financial year. Consolidated revenue fell 40.4% to Rs 221 crore in the reported quarter compared to a revenue of Rs 371 crore posted last year. The EBITDA stood at Rs 42 crore against a negative EBITDA of Rs 154 crore posted last year. The company has registered an exceptional loss of Rs 68 crore in the quarter.
Mishra Dhatu Nigam (MIDHANI): The PSU engaged in the manufacturing of metals and metal alloys have reported an 87.5% YoY rise in the consolidated profit of Rs 75 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 40 crore in the same quarter of the previous financial year. Consolidated revenue from operations grew 69.6% YoY to Rs 346 crore compared to Rs 204 crore posted last year. The EBITDA stood at Rs 104 crore, up 105.9% from Rs 50.5 crore posted last year. The EBITDA margin improved to 30.1% in Q4FY21 from 24.8% posted in Q4FY20. Besides, the board has recommended a final dividend of Rs 1.58 per share.
Nath Bio-Genes: The seed company has reported a 6.7% YoY decline in the standalone profit at Rs 7 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 7.5 crore in the same quarter of the previous financial year. Revenue from operation declined 8.3% YoY to Rs 55 crore from Rs 60 crore posted last year. EBITDA stood at Rs 11.5 crore, up 64.3% YoY from Rs 7 crore posted last year. The EBITDA margin improved to 20.9% in Q4FY21 compared to 11.7% posted in Q4FY20. Besides, the board has recommended a dividend of Rs 2 per share.
IPO + OFS + QIP update
India Pesticides: Rs 800 crore initial public offering (IPO) of Pesticides India was subscribed 3.79 times on the second day of subscription. The retail portion was subscribed 5.88 times and the NII portion saw 0.91 times subscription. Today is the last day for the subscription of the issue, 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: The offer for sale (OFS) of the company will open for retail investors today. 10% of the offer is reserved from the retail investors. The non-retail portion of the OFS was subscribed 2.82 times on the first day of subscription. 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. 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. 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 offer for sale (OFS) of the company was subscribed 2.15 times on the second day of the offer. 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.
Aarti Industries: Aarti Industries approved the launch of a QIP issue on June 24, 2021. The fundraising committee of the Board of Directors of the company approved the floor price of Rs 899.77 per equity share. The company may at its discretion offer a discount of not more than 5% on the floor price for the QIP in accordance with the SEBI ICDR Regulations. Besides, in respect of the QIP, a meeting of the Fund Raising Committee of the Board of Directors of the Company is scheduled to be held on June 30, 2021, to consider and approve the issue price for Equity Shares to be allotted to the qualified institutional buyers in the proposed Issue, including a discount if any.
IT Stocks: They will be in focus today as the IT consulting firm Accenture Plc posted higher third-quarter revenue on Thursday that beat analysts' estimates. It also increased its business outlook guidance. Its full-year revenue growth is estimated in the range of 10-11% in comparison to 6.5-8.5% provided earlier. Accenture expects revenues for Q4FY2 at $13.1 billion to $13.5 billion, 17% to 21% growth in local currency. Revenue rose to $13.3 billion (May end), +21% YoY. Analysts on average estimated the revenues at $12.8 billion. Operating income for the quarter was $2.12 billion +24% YoY. Net income for the quarter was $1.57 billion, +25% YoY. New bookings for the quarter were $15.4 billion, +39% YoY. The demand for IT consulting services is at a 20-year high and is likely to stay elevated, as businesses across sectors including finance and health depend on companies such as Accenture and its peers to adapt to a new hybrid work model.
Nifty F&O Changes + F&O Inclusions from today
Nifty F&O Changes: Many stocks will be added to the F&O market today. Nifty lot size will reduce to 50 from 75 from today. In the case of Bajaj Finserv and Coforge, the market lot size has been reduced to 75 from 125 and 200 from 375, respectively.
F&O Inclusions: Four stocks, namely Aditya Birla Fashion and Retail, Coromandel International, Indian Hotels Company, and Metropolis Healthcare will be added to the future & options segment in the July series that will start from today
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