Stocks in Focus on May 5: Adani Ports, L&T Infotech, InterGlobe Aviation, Ambuja Cement to Telecom Stocks; here are the 5 Newsmakers of the Day
At the stock markets, the S&P BSE Sensex slipped 465.01 points, or 0.95 per cent, to close at 48,253.52, on Tuesday, May 4, 2021.
At the stock markets, the S&P BSE Sensex slipped 465.01 points, or 0.95 per cent, to close at 48,253.52, on Tuesday, May 4, 2021. The Nifty at the National Stock Exchange slid 137.65 points, or 0.94 per cent, to 14,496.50. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Wednesday, May 5, 2021. List of such five stocks:
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Adani Ports + L&T Infotech + RBL Bank
Adani Ports: APSEZ has reported a 3.89 times year-on-year jump in its consolidated profit at Rs 1,288 crore for the quarter ended March 31, 2021. It had reported a net profit of Rs 334.4 crore in the same quarter of the last fiscal year. Consolidated revenue from operations grew 23.5% YoY to Rs 3,608 crore in the period under consideration against Rs 2,921 crore posted last year. Adjusted EBITDA stood at Rs 2,287 crore, up 39% YoY from Rs 1,644 crore posted last year. The Adjusted margins improved to 63.4% in Q4FY21 from 56.3% posted in Q4FY20. Krishnapatnam acquisition boosts performance. Port revenue grew 27% to Rs 3,322 crore. Logistics revenue fell 7% to Rs 268 crore. Cargo volumes grew by 27% and Container volume growth by 41%. Better product mix and operational efficiencies aid EBITDA. Forex gain of Rs 23 crore vs forex loss of Rs 1000 crore (YoY) aids profit. Finance cost rises by Rs 200 crore. Besides, the board has declared a dividend of Rs 5/share and CFO Deepak Maheshwari has resigned. The company seeks shareholder approval to raise borrowing limits. The company may abandon the Myanmar project if it is found violating sanctions imposed by the US and it may write down investment made towards the Myanmar project. Investment in Myanmar project at Rs 940 crore so far.
L&T Infotech: The technology consulting and digital solutions company has reported a 5% Quarter-on-Quarter rise in consolidated profit at Rs 545 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 519 crore in the previous quarter ended December 31, 2021. Consolidated revenue from operations grew 3.7% QoQ to Rs 3,269 crore as against Rs 3,153 crore posted in the December quarter. In dollar terms, the revenue grew 4.5% to USD 4474 crore from USD 42.8 crore. EBIT stood at Rs 633 crore, down 2.6%, from Rs 650 crore posted in the previous quarter. The margins fell to 19.4% in Q4FY21 from 20.6% posted in Q3FY21. Other income of the company grew 49.3% to Rs 103 crore from Rs 69 crore posted in the December quarter. Besides, the board has declared a final dividend of Rs 25 per share. CC revenue growth of 4.4% was recorded.
RBL Bank: The private lender reported a 34% YoY decline in profits at Rs 75 crore for the quarter ended March 31, 2021, against Rs 114 crore posted last year in the same quarter. Net interest income fell 11.3% to Rs 906 crore against Rs 1,021 crore posted last year. NIM fell to 4.1% in Q4FY21 from 4.9% posted in Q4FY20. The bank’s gross non-performing assets ratio was at 4.3% as against 1.8% reported a quarter ago. Similarly, the net NPA ratio stood at 2.1% as against 0.7% reported a quarter ago. Retail advances grew 13% YoY.
Adani Total Gas + DCM Shriram + Greaves Cotton
Adani Total Gas: Adani Total Gas Ltd, the city gas joint venture of Adani Group and French energy giant Total has reported a 19% YoY rise in the consolidated profit at Rs 144 crore for the quarter ended March 31. 2021. It had reported a profit of Rs 121 crore in the same quarter of the last fiscal year. Sales grew 25.3% to Rs 614 crore as against Rs 490 crore posted last year. EBITDA stood at Rs 212 crore, up 26.2% from Rs 168 crore posted last year. The margin grew to 34.5% in Q4FY21 from 34.3% posted in Q4FY20. Besides, the board has recommended a dividend of Rs 0.25 per equity share.
DCM Shriram: Chemical manufacturing company has reported an 11.6% YoY rise in the consolidated profit at Rs 231 crore for the quarter ended March 21, 2021. It posted a profit of Rs 207 crore in the same quarter of the last fiscal year. Consolidated sales grew 14.3% to Rs 2,191 crore as against Rs 1,917 crore posted last year. EBITDA stood at Rs 361 crore, up 5.2% from Rs 343 crore posted last year. The margin fell to 16.5% in Q4FY21 from 17.9% posted in Q4FY20. Besides, the board has approved a final dividend of Rs 3.80 per share and the record date has been fixed for July 9, 2021. With this, the total dividend paid by the company in FY21 stands at Rs 9.30 per equity share.
Greaves Cotton: The engineering company has reported a 2,372.7 times YoY growth in consolidated profit at Rs 13.6 crore for the quarter ended March 31, 2021, as against Rs 0.55 crore posted in the same quarter of the previous fiscal year. Consolidated sales grew 34.7% YoY to Rs 520 crore in the reported quarter against Rs 386 crore posted last year. EBITDA stood at Rs 41.2 crore, up 78.4%, from Rs 23.1 crore posted last year. The margin improved to 7.9% in Q4FY21 as against Rs 6% posted in Q4FY20. Besides, the board recommended a dividend of Rs 0.2 per equity share.
Affle India + InterGlobe Aviation
Affle India: The company has announced the closure of its qualified institutional placement offer on Tuesday. The issue price approved at Rs 5200 per share. The fundraising committee of the company has determined and approved the issue price of Rs 5200 per equity share (including a premium of Rs 5190 per share) to be allotted to the eligible qualified institutional buyers. The price of Rs 5200 per equity share takes into account a discount of Rs 222.94 per equity share (4.11% on the floor price).
InterGlobe Aviation: The Board of Interglobe Aviation will meet on May 7, 2021, to discuss and consider, among other things, the raising of funds by issue of equity shares through qualified institutions placement. It has plans to raise up to Rs 3,500-4,000 crore.
Ambuja Cement: LIC has increased its stakes in Ambuja Cement from 4.99% to 5.01%. The purchase was made through the open market.
Telecom Stocks in Focus: Government has given permissions to Telecom Service Providers for conducting trials for use and applications of 5G technology. The applicant includes Bharti Airtel Limited, Reliance JioInfocomm Limited, Vodafone Idea Limited and MTNL. Communication Ministry said, at present, the duration of the trials, is for six months. This includes 2 months for procurement and setting up of the equipment. The permission letters specify that each TSP will have to conduct trials in rural and semi-urban settings also in addition to urban settings so that the benefit of 5G Technology proliferates across the country, including rural areas. Chinese companies to be excluded from 5G trials. The experimental spectrum for the trial is being given in various bands to TSPs. These Telecom Service Providers, TSP have tied up with original equipment manufacturers and technology providers which are Ericsson, Nokia, Samsung and C-DOT.
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