Stocks To Watch: Axis Bank, Bajaj Finance, Info Edge, Britannia, United Breweries

Indian equity benchmarks rose for a second session on optimism the U.S. decision to offer vaccine support will aid the nation’s effort to control the world’s largest surge in coronavirus infections. The S&P BSE Sensex climbed 1.17% to 48,954.16 while the NSE Nifty 50 index gained 1.16% to 14,653.05.

Here are the stocks to watch in trade today:

  • Info Edge (India): Zomato Ltd. has proposed an initial public offering comprising sale of new shares and an offer for sale by Info Edge (India). The board of Info Edge has approved participating in the OFS aggregating up to Rs 7,500 million (Rs 750 crore); details to be specified in Zomato prospectus.
  • Future Lifestyle Fashions: Board has approved a resolution plan to restructure the existing secured financial debt from the bankers of the company. The debt raised through the NCDs issued by the company under Series IV are also part of the existing debt and are proposed to be restructured.
  • Bank Of India: Board to meet on April 30 to consider a proposal to raise capital by way of a further issue of equity shares and BASEL III Compliant Additional Tier-1, Tier-II bonds.
  • Nifty Earning: Bajaj Finserv
  • Non-Nifty Earnings: Biocon, Bombay Dyeing & Manufacturing Co, Carborundum Universal, Chennai Petroleum Corporation, GHCL, Hathway Cable & Datacom, KPIT Technologies, KPR Mill, KSB, Maharashtra Scooters, Mastek, Shree Digvijay Cement Co, SIS, Sundaram-Clayton, Tata Communications, UTI Asset Management Company

Earnings Post Market Hours

Axis Bank Q4FY21

  • Net Profit at Rs 2,677 crore Vs Net loss of Rs 1,388 crore (Bloomberg Estimate: Rs 1,912 crore)
  • NII up 11% Rs 7,555 crore Vs Rs 6,808 crore (Bloomberg Estimate: Rs 7,011 crore)
  • GNPA at 3.7% Vs 4.55% (QoQ)
  • NNPA at 1.5% Vs 1.19% (QoQ)
  • Restructured loans worth Rs 844.6 crore under one time restructuring scheme of the RBI
  • Fresh slippages at Rs 5,285 crore
  • Recoveries and upgrades at Rs 3,642 crore
  • Write-offs at Rs 5,553 crore
  • Provision coverage ratio (including write-offs) at 88%

Bajaj Finance Q4FY21 (Consolidated, YoY)

  • Net profit up 42% at Rs 1,346.64 crore Vs Rs 948 crore
  • Revenue down 5.2% at Rs 6,850.62 crore Vs Rs 7,226.55 crore
  • NII down 2.4% at Rs 4,569 crore Vs Rs 4,684 crore
  • GNPA at 1.79% vs 2.86% (QoQ)
  • NNPA at 0.75% vs 1.22% (QoQ)
  • AUM up 3.9% at Rs 1,52,947 crore Vs Rs 1,47,200 crore

Britannia Industries Q4FY21 (Consolidated, YoY)

  • Revenues up 9% at Rs 3,130.75 crore Vs Rs 2,867.70 crore (Bloomberg Estimate: Rs 3,109.2 crore)
  • Net profit down 3% at Rs 364.32 crore Vs Rs 374.75 crore (Bloomberg Estimate: Rs 416.9 crore)
  • Ebitda up 11% at Rs 505.39 crore Vs Rs 454.28 crore (Bloomberg Estimate: Rs 564.8 crore)
  • Margins at 16.1% Vs 15.8% (Bloomberg Estimate: 18.16%)

United Breweries Q4FY21 (Consolidated, YoY)

  • Revenue up 17% at Rs 3,618.09 crore Vs Rs 3,099.91 crore
  • Net profit up 133% at Rs 97.53 crore Vs Rs 41.82 crore
  • Ebitda up 97% at Rs 262.30 crore Vs Rs 133.02 crore
  • Ebitda Margins at 7.2% Vs 4.3%
  • Q4 volumes up 9%
  • Gross margin during the quarter were higher by 109 basis points on account of higher revenues due to price increases and better state-mix.
  • Has recommended dividend of Re 0.50 per share for FY21

TVS Motor Q4FY21 (Standalone, YoY)

  • Revenue up 53% at Rs 5,321.93 crore Vs Rs 3,481.42 crore
  • Net profit at Rs 289.24 crore Vs Rs 73.87 crore
  • Ebitda up 119% at Rs 536.11 crore Vs Rs 244.85 crore
  • Ebitda margin at 10.1% Vs 7%

Nippon India Life AMC Q4FY21 (Consolidated, YoY)

  • Revenue up 10% at Rs 301.90 crore Vs Rs 274.50 crore
  • Net profit at Rs 166.77 crore Vs Rs 3.72 crore
  • Assets Under Management at Rs 3.55 lakh crore
  • Share of equity assets as % of AUM rose to 40.6% from 39.1 (QoQ)
  • Has recommended a final dividend of Rs 5 per share

HDFC AMC Q4FY21 (YoY)

  • Revenue up 6% at Rs 502.93 crore Vs Rs 476.13 crore
  • Net profit up 27% at Rs 316.08 crore Vs Rs 249.83 crore
  • Quarterly Average AUM up 12% at Rs 4.15 lakh crore Vs Rs 3.69 lakh crore
  • Number of live individual accounts down 5% at 8.86 million Vs 9.34 million
  • Has recommended a dividend of Rs 34 per share for FY21

Pledge Share Details

  • Emami: Promoter Sneha Gardens revoked pledge of 25.90 lakh shares on April 23.
  • Kesoram Industries: Promoter Manav Investment & Trading Company revoked pledge of 43.19 lakh shares on April 23.
  • Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 10.25 lakh shares between April 23-26. As reported on April 27.

Bulk Deals

  • Jammu & Kashmir Bank: East Bridge Capital Master Fund I sold 70 lakh shares (0.98%) at Rs 23.67 per share.
  • Lux Industries: Nippon India Mutual Fund bought 2.50 lakh shares (0.99%) at Rs 1,875 per share.
  • Hathway Cable & Datacom: Government of Singapore Investment Corporation Pte bought 1.60 crore shares (0.91%) at Rs 22.22 per share.
  • Federal-Mogul Goetze (India): GDN Investments sold 4 lakh shares (0.72%) at Rs 281.25 per share.

Trading Tweaks

  • Record Date Interim Dividend: Easy Trip Planners, Zuari Global
  • Record Date Bonus Issue: Waa Solar
  • Price Band Revised From 20% To 10%: Alkyl Amines Chemicals, Gulshan Polyols, Vimta Labs
  • Move Into ASM Framework: Digispice Technologies, Kanoria Chemicals & Industries, Dynemic Products, Kajaria Ceramics, Mahindra Lifespace Developers, TIPS Industries
  • Move Into Short-Term ASM Framework: Hikal, Aarti Surfactants, AstraZeneca Pharma India
  • Move Out Of Short-Term ASM Framework: Vidhi Specialty Food Ingredients, Bliss GVS Pharma
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