Stocks in Focus on September 7: Nuvoco Vistas, Railway Stocks, Triveni Turbine, Orient Cement to Equitas SFB; here are the 5 Newsmakers of the Day
Continuing its forward journey, the domestic benchmark equity indices rose on Monday, September 6, 2021.
Continuing its advanced journey, the domestic benchmark equity indices rose on Monday, September 6, 2021. The S&P BSE Sensex closed 166.96 points or 0.29 per cent higher at 58,296.91. The Nifty 50 index rose 54.20 points or 0.31 per cent to settle at 17,377.80. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, September 7, 2021. List of such five stocks:
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Nuvoco Vistas Corporation: Nuvoco Vistas Corporation Ltd, the fifth largest cement maker in the country, on Monday announced a 204% QoQ rise in the net profit at Rs 114 crore for the quarter ended June 30, 2021.IT had posted a profit of Rs 37.5 crore in the previous quarter ended March 31, 2021. Revenue from operations dropped 16% to Rs 2,203 crore in the quarter under consideration as against Rs 2,632 crore posted in the previous quarter. The EBITDA stood at Rs 515 crore, down 1.5% from Rs 523 crore posted in the previous quarter. Margin improved to 23.3% in Q1FY22 as against 20% posted in Q4FY21. Consolidated figures are not comparable on a year-on-year basis as the acquisition of NU Vista Limited took place on July 14, 2020. Highlights:
- Total Volume: 4.2 MT Up 44% YoY
- Capex incurred in Q1 FY 22: Rs 113 crore
- Recovery of Volumes post-Covid in Q1FY22
Titagarh Wagons/Texmaco Rail/CEBBCO: Indian Railways has floated tenders for procurement of 8,875 wagons, reports. These wagons will be procured at Rs 2,700 crore.
Triveni Turbine Ltd.: Due to multiple disputes for over two years amongst joint venture company GE Triveni Ltd (GETL), the JV Partners, Triveni Turbine Ltd (TTL) and D I Netherlands B.V. and Baker Hughes and its affiliates (BH Parties) have determined that remaining in the Joint Venture Agreement is no longer in their interest. The Parties have now agreed to terminate the Joint Venture Agreement and fully and finally settle and resolve the multiple disputes amongst TTL, the BH Parties and General Electric Company and its affiliates (GE Parties). Hence, a Settlement Agreement has been executed on September 06, 2021. The entire shareholding held by D I in the equity share capital of GETL (49.99%) has been acquired by TTL at a consideration of Rs 8 crore.
Orient Cement: HDFC Asset Management Company sold 2.18% stakes in the company via open market transaction, reducing shareholding to 2.97% from 5.15% earlier.
Equitas Small Finance Bank: Equitas Small Finance Bank (SFB) expects to restructure loans worth up to Rs 700 crore till December under the COVID-19 regulatory package. The Chennai-based private lender has guided for restructuring to be Rs 1,500-1,600 crore for those impacted by COVID-19 under the package announced by the Reserve Bank of India (RBI).
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