Stocks To Watch: ACC, Ashok Leyland, Grasim, ITC, Sun Pharma
Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings. The S&P BSE Sensex rose 0.4% to 51,531, while the NSE Nifty 50 Index gained 0.4% as well to end the session at 15,173.
Here are the stocks to watch in trade today:
- Vedanta: Has approved issue of upto 5,000 secured NCDs of face value Rs 10 lakh each aggregating up to Rs 500 crore on a private placement basis.
- Sun Pharma: Settled a case involving whistleblower complaints that alleged the company and its subsidiary diverted funds through its sole distributor in the country. The company has paid a settlement amount of Rs 56 lakh, while Managing Director Dilip Shanghvi has paid Rs 62.35 lakh, which was approved by an internal committee, according to an order uploaded on the SEBI website. Executives, including Sudhir Valia and Sunil Ajmera, too have paid such charges.
- Tube Investments of India: Has approved the manufacturing and sale of Three-Wheeled Electric Vehicles with an outlay of up to Rs 200 crore. The company also approved payment of an interim dividend of Rs 2 per share of face value of Re 1 for the financial year 2020-21.
- Fineotex Chemical: Maharashtra's Food & Drugs Administration department has granted approval to the company's plant. The license has been granted for production of disinfectant/antimicrobial hygiene and cleaning products for the HPC division to be launched by the company.
- TCS: Has strengthened its partnership with Snowflake, with the launch of a curated version of its TCS DAEzMo™ suite of solutions that enables businesses to accelerate their data landscape modernisation and migration to Snowflake’s data cloud.
- RITES: Has in consortium, emerged as L-1 bidder for a General Consultancy work of Rs 61 crore from Haryana Rail Infrastructure Development Corporation for their Haryana Orbital Rail Corridor.
- APL Apollo Tubes: CRISIL Ratings has revised the rating of the Long-term Bank Facilities of the company to AA/Stable from AA-/Stable and reaffirmed A1+ rating to Short-term Bank Facilities.
- The Karur Vysya Bank: India Ratings & Research has affirmed the credit rating of Basel III Tier II Bonds as A+/Stable.
- Dishman Carbogen Amcis: A joint inspection was carried out during the quarter ending March 2020 by Swissmedic and EDQM, post which certain audit observations were issued for the company's Bavla site. The implementation of the corrective action plan submitted to the EDQM is underway.
- Nifty Earnings Today: Grasim
- Non-Nifty Earnings Today: Advanced Enzymes, Apollo Hospitals, Bharat Forge, Chemcon Specialty Chemicals, Cochin Shipyard, Delta Corp, Embassy Office Parks REIT, Finolex Cables, Forbes & Company, Force Motors, GIC Housing Finance, Glenmark, GMR Infra, Hindustan Aeronautics, Indiabulls Housing Finance, Inox Wind, ITI, Mazagon Dock Shipbuilders, MIDHANI, MOIL, Motherson Sumi, NALCO, Info Edge (India), Phoenix Mills, Siemens, Sobha, Voltas, Zuari Agro
- Revenues up 5% at Rs 12,580.40 crore Vs Rs 12,013.01 crore (Bloomberg Estimate: Rs 11,935.7crore)
- Net profit down 12% at Rs 3,662.85 crore Vs Rs 4,141.93 crore (Bloomberg Estimate: Rs 3,613.5 crore)
- EBITDA down 7% at Rs 4,281.35 crore Vs Rs 4,612.67 crore (Bloomberg Estimate: Rs 4,356.7 crore)
- Margins at 34.03% Vs 38.40% (Bloomberg Estimate: 30.3%)
- Has declared interim dividend of Rs 5 per share of Re 1 each for the financial year ending on March 31, 2021.
Earnings Post Market Hours
ACC Q4CY20 (Consolidated, YoY)
- Revenue up 2% at Rs 4,144.72 crore Vs Rs 4,060.31 crore
- Net profit up 73% at Rs 472.44 crore Vs Rs 273.28 crore
- Ebitda up 6% at Rs 571.85 crore Vs Rs 540.96 crore
- Ebitda Margins at 13.8% Vs 13.3%
- Has recommended payment of a dividend of Rs 14 per share of Rs 10 each for the financial year ended December 31, 2020.
Ashok Leyland Q3FY21 (Standalone, YoY)
- Revenue up 20% at Rs 4,813.51 crore Vs Rs 4,015.65 crore
- Net loss of Rs 19.38 crore Vs Net profit of Rs 27.75 crore Exceptional loss of Rs 46 crore during the quarter
- Ebitda up 13% at Rs 253.88 crore Vs Rs 225.15 crore
- Ebitda Margins at 5.3% Vs 5.6%
Petronet LNG Q3FY21 (Consolidated, YoY)
- Revenue down 18% at Rs 7,328.23 crore Vs Rs 8,910.23 crore
- Net profit up 30% at Rs 882.05 crore Vs Rs 679.22 crore
- Ebitda up 21% at Rs 1,335 crore Vs Rs 1,107 crore
- Ebitda Margins at 18.2% Vs 12.4%
- Higher other income contributes to net profit
- Other income up 32% to Rs 111.06 crore from Rs 84.16 crore
Pledge Share Details
- JSW Steel: Promoters (Sahyog Holdings, Vividh Finvest and Siddeshwari Tradex) created a pledge of 6.37 crore shares between February 5-10.
- Adani Enterprises: Promoters (Gautam S. Adani and Rajesh S. Adani) revoked pledge of 17.18 lakh shares on February 10.
- Aurobindo Pharma: Promoter RPR Sons Advisors created a pledge of 23 lakh shares on February 9.
- Crompton Greaves Consumer Electricals: Promoter Amalfiaco created a pledge of 1.20 crore shares on February 9.
- Future Retail: Promoter Future Corporate Resources invoked pledge of 69.30 lakh shares on February 9.
As Reported On February 11.
Who’s Meeting Whom
- Dixon Technologies (India): To meet EFG Asset Management (HK) and Taiyo Pacific on February 17 and Fidelity International on February 18.
- KEC International: To meet Edelweiss Securities on February 12.
- Adani Green Energy: Promoter Harmonia Trade and Investment acquired 45 lakh shares between February 9-10.
- Crompton Greaves Consumer Electricals: Promoter Amalfiaco sold 3.80 crore shares on February 9.
- The Ramco Cements: Promoter Sri Vishnu Shankar Mill sold 1.54 lakh shares on February 10.
- Aarti Industries: Promoter Jaya Chandrakant Gogri sold 10,000 shares on February 10.
- Apar Industries: Promoters (Kushal Desai and Chaitanya Desai) acquired 2.54 lakh shares on February 10.
- Apl Apollo Tubes: Promoter Veera Gupta sold 15,000 shares on February 5.
- Vardhman Special Steels: Promoter Sachit Jain acquired 10,000 shares between February 9-10.
- KCP: Promoter VL Indira Dutt acquired 1 lakh shares on February 10.
As Reported On February 11.
- Price Band Revised From 10% To 5%: Affle (India), Magma Fincorp
- Ex-Date Stock Split: Bannari Amman Spinning Mills
- Ex-Date Interim Dividend: Alkyl Amines Chemicals, Cantabil Retail India, Saurashtra Cement.
- Record Date Interim Dividend: Balrampur Chini Mills, Dhampur Sugar Mills, Carborundum Universal, Apcotex Industries, NTPC, PI Industries, Gillette India, HIL, BLS International Services, Control Print, Iifl Wealth Management, PNB Gilts, HIL.
- Move Into Short-term ASM Framework: Magma Fincorp, Graphite India, Savita Oil Technologies
- Move Out Of Short-term ASM Framework: MPS