Stocks To Watch: Cipla, Dr. Reddy’s, IndusInd Bank, IOC, Sun Pharma, Tata Motors, Tech Mahindra, UPL
Indian equities ended lower for the fifth straight day, even as benchmark indices ended off the lowest point of the day, courtesy a recovery in private banks during the final minutes of the January F&O expiry.
The S&P BSE Sensex ended 1.1% lower at 46,874, shedding another 535 points to the over 2,700 points already shed over the last four sessions. The NSE Nifty 50 too ended 104 points higher than the day's low of 13,713.
Here are the stocks to watch in trade today:
- Adani Ports and Special Economic Zone: Priced a USD 500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10 % on January 26, 2021. This was the second issuance for APSEZ and third for the port vertical company of Adani Group in the current financial year with total issuance amounting to over USD 1.50 billion.
- V-Mart Retail: Launches QIP issue on Thursday in order to raise funds. Floor price of Rs 2,432.8 per share is a 0.3% premium to Thursday's closing price. The company may offer a discount of not more than 5% on the floor price at its discretion. The investment committee will meet on or after February 2, 2021 to consider the issue price for the QIP.
- Olectra Greentech: Evey Trans has received Letter of Award for 350 Electric Buses from one of the State Government Undertakings. This order is on Gross Cost Contract/OPEX model basis for a period of 12 years. EVEY will procure these Electric Buses from Olectra Greentech which will be delivered over a period of 7 months. With these, total electric buses to be delivered by OGL against above and earlier orders are over 1,250 electric buses. Further EVEY and OGL have been declared as Least Quoted (L-1) bidders for another 300 Electric Buses from one of the State Transport Corporation under FAME-II scheme of Government of India.
- Sundaram Finance: Sundaram Asset Management Company, a 100% subsidiary of the company, has announced the purchase of the asset management businesses of Principal Asset Management. Sundaram AMC will acquire the schemes managed by Principal Asset Management and acquire 100% of the share capital of Principal Asset Management, Principal Trustee Company and Principal Retirement Advisors.
- Bank of India: Has issued and allotted 7500 Basel III Compliant Additional Tier I Bonds in the nature of debentures of face value Rs 10 lakhs each amounting to Rs 750 crore.
- Motilal Oswal Financial Services: Has declared an Interim Dividend of Rs 5 per equity share on the face value of Re 1 each for the Financial Year 2020-21. The record date for the purpose of payment of Interim Dividend is February 9, 2021.
- Kalpataru Power Transmission: Has incorporated a wholly owned subsidiary namely Kalpataru Power DO Brasil Participacoes in Federative Republic of Brazil.
- Indus Towers: Has declared 2nd Interim Dividend of Rs 17.82 per equity share of Rs 10 each for the financial year 2020-2021. The record date for the purpose of ascertaining the eligibility of shareholders for the payment of Interim Dividend is February 9.
- Grasim: Board considered and approved issue of Non-Convertible Debentures worth Rs 500 crore in one or more tranches on a private placement basis.
- Apollo Hospitals: Board approves revised scheme of amalgamation of Apollo Home Healthcare (India) and Western Hospitals Corporation, two wholly-owned subsidiaries into itself. The scheme is subject to statutory and regulatory approvals.
- Dhanlaxmi Bank: RBI approves appointment of JK Shivan as MD & CEO for a period of three years. The date on which he takes charge will be informed separately.
- Butterfly Gandhimathi Appliances: Prepaid a term loan of Rs 20 crore from Aditya Birla Finance from internal accruals.
- Nifty Earnings: Cipla, Dr Reddy's Laboratories, IndusInd Bank, Indian Oil Corporation, Sun Pharma, Tata Motors, Tech Mahindra, UPL,
- Non-Nifty Earnings: ADF Foods, Atul, Blue Star, Chola Finance, Credit Access Grameen, LT Foods, Dabur, Dish TV, DLF, Exide Industries, IIFL Finance, JK Lakshmi Cement, JSW Energy, Just Dial, Kaya, Dr Lal Pathlabs, LIC Housing Finance, Mahindra Logistics, Manappuram Finance, Orient Electric, Rupa & Company, Sanghi Industries, Shankara Building Products, Shriram City Union, Solar Industries, Union Bank of India, UTI AMC, Vaibhav Global, Vedanta, Wockhardt
Pledge Share Details
- Jindal Steel & Power: Promoter Danta Enterprises revoked pledge of 16,600 shares on January 22. Promoter OPJ Trading created pledge of 22.90 lakh shares in January 21.
- Sun Pharma Advanced Research Company: Promoter Raksha Valia created pledge of 19.60 lakh shares between January 25-27. As Reported On January 28.
- PVR: BNP Paribas Arbitrage bought 3.05 lakh shares at Rs 1,489.62 per share and sold 3,906 shares at Rs 1,513.88 per share. Graviton Research Capital LLP bought 3.01 lakh shares at Rs 1,489.04 per share and sold 3.04 lakh shares at Rs 1,488.28 per share. Sylebra Capital Partners Master Fund sold 3.07 lakh shares at Rs 1490.45 per share.
- Karda Constructions: Lotus Global Investment Fund bought 3.25 lakh shares at Rs 111 per share.
- Ex-Date Interim Dividend: SRF, Zensar Technologies
- Record Date Interim Dividend: GMM Pfaudler, Havells India
- Move Into Short-term ASM Framework: Anant Raj
- Sterlite Technologies: Promoter Pratik Agarwal sold 17,500 shares on January 27. As Reported On January 28.
Earnings Post Market Hours
Aarti Industries Q3FY21
- Revenue up 9% at 1,142.6 crore Vs Rs 1,045.9 crore
- Net profit up 18% at Rs 161.8 crore Vs Rs 136.8 crore
- Ebitda up 11% at Rs 269.3 crore Vs Rs 242.8 crore
- Ebitda margin at 23.6% Vs 23.2%
- Specialty Chemicals revenue up 3% at Rs 1,029.1 crore Vs Rs 1,000.6 crore
- Pharmaceutical revenue up 32% at Rs 232.2 crore Vs Rs 176.1 crore
- Has constituted an internal Committee of Directors to evaluate the feasibility for demerger of Pharma and allied activities.
RBL Bank Q3FY21 (Standalone, YoY)
- Net Interest Income down 2% at Rs 908.2 crore Vs Rs 922.6 crore (BBG Estimate: Rs 966.9 crore)
- Net profit up 110% at Rs 147.1 crore Vs Rs 70 crore (BBG Estimate: Rs 137.5 crore)
- Gross NPA at 1.84% Vs 3.34% (QoQ)
- Net NPA at 0.71% Vs 1.38% (QoQ)
- Proforma gross NPA at 4.57% Vs 3.49% (QoQ)
- Proforma Net NPA at 2.52% Vs 1.49% (QoQ)
InterGlobe Aviation Q3FY21 (Standalone, YoY)
- Revenue down 51% at Rs 4,910 crore Vs Rs 9,931 crore (BBG Estimate: Rs 6,054 crore)
- Ebitdar down 50% at Rs 902 crore Vs Rs 1,794 crore (BBG Estimate: Rs 885 crore)
- Ebitdar Margin at 18.4% Vs 18.2%
- Net loss of Rs 626 crore Vs Net profit of Rs 490 crore (BBG Estimate: Loss of Rs 437 crore)
TVS Motor Q3FY21 (Standalone, YoY)
- Revenue up 31% at Rs 5,391 crore Vs Rs 4,125 crore (BBG Estimate: Rs 5,280 crore)
- Ebitda up 41% at Rs 511 crore Vs Rs 363 crore (BBG Estimate: Rs 418 crore)
- Net profit up 35% at Rs 265 crore Vs Rs 196 crore (BBG Estimate: Rs 237 crore)
- Ebitda margin at 9.5% Vs 8.8%
- Highest ever revenue and profit for the company
- Generated free cash flow of Rs 1,616 crore which was used to reduce debt
- Two-wheeler sales in domestic market grew 21% and in the international market by 31%
- Declares interim dividend of Rs 2.1 per share
Pidilite Q3FY21 (Consolidated, YoY)
- Revenue up 19% at Rs 2,299 crore Vs Rs 1926.59 crore
- Ebitda up 38% at Rs 640.8 crore Vs Rs 463.2 crore
- Ebitda Margin at 27.9% Vs 24%
- Net profit up 29% at Rs 446.4 crore Vs Rs 346.1 crore
- Consumer and Bazaar revenue up 25% at Rs 1,848.9 crore Vs Rs 1,478.3 crore
- B2B revenue up 3% at Rs 475 crore Vs Rs 462.6 crore
- Consumer and Bazaar segment registered volume and value growth in excess of 20% during the quarter
- Healthy volume growth in B2B segment as well due to resurgence in industrial activity
IRCTC Q3FY21 (Standalone, YoY)
- Revenue down 69% at Rs 224.4 crore Vs Rs 716 crore
- Ebitda down 64% at Rs 94.6 crore Vs Rs 265.7 crore
- Ebitda Margins at 42.2% Vs 37.1%
- Net profit down 62% at Rs 78.1 crore Vs Rs 205.8 crore
- Catering revenue down 82% at Rs 49 crore Vs Rs 269.2 crore
- Rail Neer revenue down 71% at Rs 16.9 crore Vs Rs 58.6 crore
- Internet ticketing revenue down 37% at Rs 143 crore Vs Rs 226.9 crore
- Tourism Revenue down 84% at Rs 15.5 crore Vs Rs 94.9 crore
Coforge Q3FY21 (Consolidated, YoY)
- Revenue up 3% at Rs 1,190.6 crore Vs Rs 1,153.7 crore
- Ebit up 2% at Rs 155.4 crore Vs Rs 152.6 crore
- Ebit margin at 13.1% Vs 13.2%
- Net profit up 1% at Rs 122 crore vs Rs 120.7 crore
- Secured 2 large deals, order intake of $192 million during the quarter
- Order book executable over next 12 months expands to $501 million, up 18% YoY
- The BFS business grew 7.7% sequentially and contributed to 18% of total revenue.
- The Travel vertical recorded a quarter-on-quarter growth of 9.8% and contributed 20% of total revenue.
- The Insurance vertical declined by 3.9% QoQ, contributing to 32% of the quarter’s total revenue.
United Breweries Q3FY21 (Consolidated, YoY)
- Revenue down 6% at Rs 3,065.9 crore Vs Rs 3,254.1 crore
- Ebitda down 21% at Rs 174.4 crore Vs Rs 221.5 crore
- Ebitda Margins at 5.7% Vs 6.8%
- Net profit up 19% at Rs 127.2 crore Vs Rs 107 crore
- Sequential volume growth of 37% in Q3
- Q3 volumes at 85% of previous year
- Gross margins during the quarter were higher by 119 basis points due to positive state mix and benign input costs
- Industry outlook continues to develop positively, yet remains volatile depending amongst others on the future trajectory of the pandemic
Shriram Transport Finance Q3FY21 (Consolidated, YoY)
- Net Interest Income up 2% at Rs 2,202.1 crore Vs Rs 2,167.6 crore
- Net profit down 17% at Rs 727.7 crore Vs Rs 879.2 crore
- Gross NPA at 5.33% Vs 8.71% (QoQ)
- Net NPA at 3.22% Vs 6.09% (QoQ)
- Gross Stage 3 assets at 7.11% Vs 7.26%
- Net stage 3 assets at 4.31% Vs 4.51%
- Company has classified proforma Gross and Net NPA as gross and net stage 3 assets
- Collections in December were 104% of the demand
- Restructured loans worth Rs 309.6 crore as on December 31, 2020
Bharat Electronics Q3FY21 (Consolidated, YoY)
- Revenue up 2% at Rs 2,320.4 crore Vs Rs 2,278.1 crore
- Ebitda up 28% at Rs 456.2 crore Vs Rs 356.7 crore
- Ebitda Margins at 19.7% Vs 15.7%
- Net profit up 25% at Rs 278.5 crore Vs Rs 222.8 crore
- Declared interim dividend of Rs 1.40 per equity share of Re 1 each
- The order book position of the company as on January 1, 2021 stood at Rs 54,791 crore
- Record Date for the purpose of payment of Interim Dividend is February 5.
KEC International Q3FY21 (Consolidated, YoY)
- Revenue up 7% at Rs 3,289.2 crore Vs Rs 3,073.1 crore
- Ebitda down 6% at Rs 298.7 crore Vs Rs 318.5 crore
- Ebitda Margins at 9.1% Vs 10.4%
- Net profit flat at Rs 145 crore
- YTD Order Intake stood at Rs 6,827 crore
- Robust Order book + L1 Pipeline of Rs 24,000 crore
- Average Borrowing level continued to be largely in-line with the target of Rs 2,500 crore
- Net Working Capital stands at 144 days as on December 31, 2020.
- Working capital position expected to normalize further in Q4
KEI Industries Q3FY21 (Consolidated, YoY)
- Revenue down 12% at Rs 1,152.9 crore Vs Rs 1,314.2 crore
- Ebitda down 8% at Rs 128.2 crore Vs Rs 139.2 crore
- Ebitda Margins 11.1% Vs 10.6%
- Net profit up 10% at Rs 79.6 crore Vs Rs 72.5 crore
- Cables segment revenue down 10% at Rs 989.8 crore
- Stainless steel wire revenue up 27% at Rs 41.2 crore Vs Rs 32.5 crore
- EPC projects revenue down 26% at Rs 292.9 crore Vs Rs 398.5 crore
M&M Financial Services Q3FY21 (Consolidated, YoY)
- Net Interest Income down 3% at Rs 1,646.2 crore Vs Rs 1,694.7 crore
- Net loss of Rs 223.2 crore Vs Net profit Rs 474.9 crore
- Gross Stage 3 assets at 9.99% Vs 7% (QoQ)
- Net Stage 3 assets at 6.57% Vs 4.7% (QoQ)
- Cumulative management overlay of Rs 1,180.9 crore as on December 31, 2020 for covering contingencies that may arise due to Covid-19.
Cummins India Q3FY21 (Consolidated, YoY)
- Revenue down 2% at Rs 1,431.1 crore Vs Rs 1,456.3 crore
- Net profit up 20% at Rs 240.3 crore Vs Rs 199.9 crore
- Ebitda up 12% at Rs 242.1 crore Vs Rs 216.4 crore
- Ebitda margin at 16.9% Vs 14.9%
- Exceptional item of Rs 16 crore on account of VRS program
- Domestic sales down 3% to Rs 1,026 crore but up 38% (QoQ)
- Exports up 1% to Rs 374 crore; down 6% (QoQ)
- Not providing full year revenue guidance for FY21 as market conditions continue to remain uncertain and visibility for end market recovery still somewhat limited