Stocks To Watch: Glenmark Pharma, Max Financial, Tata Power, Petronet LNG, Prestige Estates, Bata, GAIL
Equity benchmarks Sensex and Nifty ended marginally lower yesterday following losses in index majors Reliance Industries Ltd, ICICI Bank and HDFC twins. The S&P BSE Sensex fell 0.1% at 52,275.57, while NSE Nifty 50 Index declined slightly to 15,740.10.
Stocks To Watch
- Glenmark Pharmaceuticals: Interim data from Post Marketing Surveillance study on Favipiravir (FabiFlu) supports its safety and effectiveness in real world settings with no new safety signals or concerns in Covid-19 patients.
- Videocon Industries: Mumbai bench of the NCLT has approved Twin Star Technologies’ resolution plan for Videocon Industries Ltd. The approval comes with certain riders, one of them being that the dissenting creditors will have to be paid upfront. Twin Star Technologies is offering Rs 2,962 crore against Videocon’s overall debt of around Rs 46,000 crore.
- Religare Enterprises: To raise Rs 570 crore from a clutch of 17 investors. The company will issue up to 5,41,56,761 shares at an issue price of Rs 105.25 per share to existing shareholders like Burman family and Ares SSG Capital and new investors. Fund raised to be primarily used as growth capital investment in subsidiary companies. Religare Enterprises is holding company for four subsidiary businesses including SME financing, health insurance, retail broking and affordable housing finance.
- Tata Power: Competition Commission of India has approved the acquisition of 51% of the equity share capital in the three electricity supply companies of Orissa, viz. Western Electricity Supply Company, Southern Electricity Supply Company and Central Electricity Supply Company, by the Tata Power Company.
- Mphasis: Competition Commission of India has approved the acquisition of the company by BCP Topco, GIC Investor & ADIA Investors.
- Welspun Corp: Received multiple orders of approximately 164 KMT valuing close to Rs 1,725 crore. These include reinstatement of an offshore sour pipes supply contract (270 km / 87 KMT) in Australia for the Barossa Offshore Development Project. The company’s order book now stands at 525 KMT valued at approximately Rs 4,800 crore, after considering execution up to May 2021.
- Tata Motors: Incorporated a wholly owned subsidiary called TML CV Mobility Solutions. The subsidiary will deal in sale and repair of electric vehicles, fuel cell buses and all types of commercial vehicles.
- Adani Enterprises: Incorporated a wholly owned subsidiary called Mundra Windtech. The subsidiary will manufacture wind turbine generators and other auxiliaries.
- Bandhan Bank: Reserve Bank of India has approved re-appointment of Chandra Shekhar Ghosh as MD and CEO of the bank, for a period of three years, with effect from July 10.
- INOX Leisure: Approved opening of QIP on June 8. The floor price of Rs 315.25 per equity share is at a discount of 5.62% to Tuesday’s closing price. The board will meet on June 11 to determine the QIP issue price.
- Shriram Transport Finance Company: Securities Issuance Committee to consider and determine the QIP issue price on June 11.
- Thangamayil Jewellery: Showrooms and offices in Tamil Nadu to remain closed till June 14 as the state government has extended the Covid lockdown.
- Earnings: Gail (India), Bata India, Bajaj Healthcare, Star Cement, Digispice Technologies, Indian Metals & Ferro Alloys, Indraprastha Medical Corp., Dhanvarsha Finvest, TeamLease Services
Earnings Post Market Hours
Max Financial Services Q4FY21 (Consolidated, QoQ)
- Revenue up 9% at Rs 9,760 crore Vs Rs 8,990 crore
- Net profit down 65% at Rs 62.34 Vs Rs 175.81 crore
- Value of New Business up 31.71% at Rs 461 crore Vs Rs 350 crore
- Gross Written Premium up 53.51% at Rs 7,106 crore Vs Rs 4,629 crore
- Total Assets Under Management up 32% at Rs 90,407 crore in FY21
Petronet LNG Q4FY21 (Consolidated, QoQ)
- Revenue up 3% at Rs 7,575.32 crore Vs Rs 7,328.23 crore
- Net profit down 28% at Rs 637.92 crore Vs Rs 882.05 crore
- Ebitda down 18% at Rs 1,091.09 crore Vs Rs 1,335.29 crore
- Ebitda margin at 14.4% Vs 18.2%
- Recommended final dividend of Rs 3.50 per share
Engineers India Q4FY21 (Consolidated, QoQ)
- Revenue up 34% at Rs 1,131.90 crore Vs Rs 845.48 crore
- Net profit down 72% at Rs 24.92 crore Vs Rs 88.07 crore
- Ebitda up 1.22 times at Rs 171.01 crore Vs Rs 77.14 crore
- Ebitda margin at 15.1% Vs 9.1%
- Recommended final dividend of Re 0.60 per share
Galaxy Surfactants Q4FY21 (Consolidated, QoQ)
- Revenue up 16% at Rs 783.52 crore Vs Rs 674.70 crore
- Net profit down 8% at Rs 78.68 crore Vs Rs 85.23 crore
- Ebitda down 2% at Rs 117.38 crore Vs Rs 119.47 crore
- Ebitda margin at 15% Vs 17.7%
- Recommended final dividend of Rs 4 per share
Prestige Estates Projects Q4FY21 (Consolidated, QoQ)
- Revenue up 23% at Rs 2,268.10 crore Vs Rs 1,847.60 crore
- Net profit at Rs 1,350.50 crore Vs Rs 87.80 crore
- Ebitda up 23% at Rs 550.40 crore Vs Rs 447.60 crore
- Ebitda margin at 24.3% Vs 24.2%
- Appointed Amit Mor as CFO with effect from June 8
Pledge Share Details
- Emami: Promoter Sneha Enclave created a pledge of 29.50 lakh shares on June 4. Promoter Sneha Gardens revoked pledge of 1.82 lakh shares on June 4.
- JSW Energy: Promoter Seema Jajodia created a pledge of 4.75 lakh shares on January 18.
- Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 12.50 lakh shares on June 4. As reported on June 8
- Astra Microwave Products: Quant Mutual Fund bought 6.02 lakh shares (0.70%) at Rs 159.14 per share.
- Den Networks: ICICI Bank sold 24.58 lakh shares (0.52%) at Rs 57.8 per share.
- Kalyani Investment Company: Promoter Ajinkya Investments &Trading Company bought 25,150 shares (0.58%) at Rs 1,961.52 per share. Poonawalla Aviation sold 25,000 shares (0.57%) at Rs 1,961.61 per share.
- NIIT: Societe Generale bought 8.54 lakh shares (0.60%) at Rs 279.29 per share.
- Asian Granito India: Promoters (Bhagubhai Patel, Hinaben Patel, Dimpalben Patel, Bhogibhai Patel, Hiraben Patel, Bhogibhai Patel and Rameshbhai Patel) sold 10.60 lakh shares between June 3-7.
- Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services bought 16,000 shares on June 3.
- Godrej Agrovet: Promoter Godrej Industries bought 22,896 shares between June 2-3.
- Ultramarine & Pigments: Promoters (S Narayan, Sridhar Sundararajan and Jayalakshmi Venkataraman) sold 19,100 shares on June 7.
Who’s Meeting Whom
- Godawari Power and Ispat: To meet Kotak Mutual Fund and IDFC Mutual Fund on June 9, and Sundaram Mutual Fund on June 11.
- Somany Home Innovation: To meet Ventura Securities on June 9.
- Ex-Date Dividend: Rallis India, Huhtamaki India
- Ex-Date Rights Issue: Vikas EcoTech
- Price Band Revised From 10% To 5%: Affle (India), Ashapura Minechem, Adani Total Gas, Borosil Renewables, Butterfly Gandhimathi Appliances, Indo Rama Synthetics (India), Manali Petrochemical, Praj Industries, Supreme Petrochem
- Price Band Revised From 20% To 10%: Adani Power, Hinduja Global Solutions, NACL Industries, NIIT