Stocks To Watch: Eicher Motors, GAIL, Hindalco, InterGlobe Aviation, Tata Steel, Titan
Indian equities faced pressure at higher levels, snapping a six-day winning streak after cooling off from the day's high in the final minutes of trade on Tuesday. The S&P BSE Sensex ended 20 points lower at 51,329, declining over 500 points from the day's high. The NSE Nifty 50 also fell 150 points from the highest point of the day to end seven points lower at 15,109.
Here are the stocks to watch in trade today:
- Century Plyboards (India): To acquire upto 19.95 lakh shares of Rs 10 each constituting 39.94% of the share capital of its subsidiary company, Century Infotech, from other shareholders. Further the company has approved expansion of Medium Density Fiber Board unit located at Hoshiarpur in Punjab by making an additional capital expenditure of approximately Rs 200 crore. The existing operating capacity of the plant is 600 cbm per day which is expected to be increased to 1000 cbm per day, post this expansion.
- Petronet LNG: Has approved the proposal for incorporating its wholly-owned subsidiary company to undertake businesses/activities, including but not limited to gassing up and/or cool down and supply of heel to LNG vessels, LNG bunkering, training, consultancy, other value-added marine, transport, LNG services, etc. The registered office and the operational unit of the wholly-owned subsidiary company will be kept at New Delhi and Puthuvypeen SEZ, Kochi respectively.
- InterGlobe Aviation: Aditya Pande has resigned as Chief Financial Officer of the company, effective February 21, 2021. The company has appointed Jiten Chopra as CFO with effect from February 22, 2021.
- The Phoenix Mills: Mindstone Mall Developers, a wholly owned subsidiary of the company, has announced acquisition of approximately 7.48 acres of prime land in Alipore, Kolkata for a total consideration of Rs 300 crore. The land parcel has development potential of approximately 1 msf with the first phase of the development expected to be operational during FY25 subject to local and municipal approvals.
- IG Petrochemicals: Has approved the Greenfield Expansion of Phthalic Anhydride & its Derivatives up to 80,000 MTPA in Gujarat. The capacity will be added in approximately 3 years at a cost of Rs 600 crore.
- Nilkamal: Has approved payment of interim dividend of Rs 5 per share of Rs 10 each for the financial year 2020-2021.
- Garden Reach Shipbuilders & Engineers: Has declared an interim dividend of Rs 3.85 per share of face value of Rs 10 each for the Financial Year 2020-21.
- Torrent Power: Has approved interim dividend of Rs 5.50 per share on 48.06 crore shares of Rs 10 each for financial year 2020-21.
- IRFC: A meeting of Board of Directors is scheduled on February 13 to consider declaration of interim dividend for the Financial Year 2020-21.
- Vedanta: CRISIL has reaffirmed the ratings of the company as AA-/Stable.
- VST Tillers Tractors: Has appointed VT Ravindra as Managing Director of the company with effect from February 20, 2021. The current Vice Chairman & Managing Director of the company VP Mahendra will retire on February 19.
- Patel Engineering: The allotment Committee has approved the allotment of 3,54,36,562 shares of face value Re. 1 each at a price of Rs 14.78 per share (i.e. price for conversion of debt into equity) aggregating to Rs 52.37 crore.
- Nifty Earnings Today: Eicher Motors, GAIL, Hindalco, Titan
- Non-Nifty Earnings Today: ABB India, Aurobindo Pharma, Bank of India, Bata India, BEML, Bharat Wire Ropes, ENIL, Eveready, Greaves Cotton, GSPL, Happiest Minds Technologies, Indraprastha Gas, Kesoram Industries, Kitex Garments, Max India, NBCC, Page Industries, Procter & Gamble Health, RITES, Schneider Electric, Shalimar Paints, SpiceJet, TTK Prestige, Ujjivan Financial Services
Tata Steel Q3FY21 (Consolidated, YOY)
- Revenues up 11.5% at Rs 39,594 crore Vs Rs 35,520 crore (Bloomberg Estimate: Rs 38,982.4 crore)
- Net profit at Rs 3,989 crore Vs Net loss of Rs 1,166 crore (Bloomberg Estimate: Rs 3,410.2 crore)
- EBITDA up 160.7% at Rs 9,540 crore Vs Rs 3,659 crore (Bloomberg Estimate: Rs 8,516.1 crore)
- Margins at 24.1% vs 10.3%
- Apparent steel consumption in India improved by 17.8% QoQ and 10.7% YoY
- EU steel imports declined due to low margins. However, the market share of imports remained high
Earnings Post Market Hours
AkzoNobel Q3FY21 (Consolidated, YoY)
- Revenue up 7% at Rs 774.6 crore Vs Rs 727 crore
- Net profit up 14% at Rs 87.3 crore Vs Rs 76.9 crore
- Ebitda up 16% at Rs 135 crore Vs Rs 116 crore
- Ebitda Margins 17.4% Vs 15.9%
- Recommended interim dividend of Rs 20 per share for the financial year 2020-21.
- Strong double-digit volume growth during the quarter
- Witnessing inflationary pressure due to rising raw material costs
GMDC Q3FY21 (Consolidated, YoY)
- Revenue down 3% at Rs 329.26 crore Vs Rs 339.66 crore
- Net loss of Rs 2.75 crore Vs Net profit of Rs 28.23 crore
- Ebitda loss of Rs 38.58 crore Vs Ebitda gain of Rs 12.21 crore
Raymond Q3FY21 (Consolidated, YoY)
- Revenue down 34% at Rs 1,243.44 crore Vs Rs 1,885.43 crore
- Net profit down 89% at Rs 22.18 crore Vs Rs 196.83 crore
- Ebitda down 45% at Rs 114 crore Vs Rs 206 crore
- Ebitda Margins at 9.2% Vs 10.9%
- Net debt reduced by Rs 234 crore QoQ
- Liquidity position strengthened to Rs 608 crore compared to September 2020 & March 2020 levels
Mahanagar Gas Q3FY21 (Standalone, YoY)
- Net sales down 11% at 666.3 crore Vs 744.5 crore
- Net profit up 17% at Rs 217.2 crore Vs Rs 186 crore
- Ebitda up 22% at Rs 316.7 crore Vs Rs 258.8 crore
- Ebitda margin at 43.5% Vs 31.6%
- Has approved interim dividend of Rs 9 per share having face value of Rs 10 each for the Financial Year 2020-2021
Lemon Tree Hotels Q3FY21 (Consolidated, YoY)
- Revenue 66% at Rs 68.37 crore Vs Rs 199.61 crore
- Net loss of Rs 45.72 crore Vs Net profit of Rs 11.08 crore
- Ebitda down 75% at Rs 20.08 crore Vs Rs 81.2 crore
- Ebitda Margin at 29.4% Vs 40.7%
Burger King Q3FY21 (Standalone, YoY)
- Revenue down 28% at Rs 163.1 crore Vs Rs 227.9 crore
- Net loss widens to Rs 29 crore Vs Rs 21.70 crore
- Ebitda down 42% at Rs 15.20 crore Vs Rs 26 crore
- Ebitda Margins at 9.3% Vs 11.4%
Pledge Share Details
- Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 15.05 lakh shares between February 4-8. As Reported On February 9.
- Neuland Laboratories: Employees Retirement System of Texas bought 86,000 shares (0.67%) at Rs 1,842.24 per share.
- Apollo Tricoat Tubes: Promoter Saket Agarwal sold 3.03 lakh shares (1%) at Rs 910 per share.
- Crompton Greaves Consumer Electricals: Promoter Amalfiaco sold 1.90 crore shares (3.03%) at Rs 392.45 per share and sold another 1.90 crore shares (3.03%) at Rs 392.92 per share. Societe Generale bought 39 lakh shares (0.62%) at Rs 392.10 per share.
Who’s Meeting Whom
- Bajaj Electricals: To meet PhillipCapital (India) and Motilal Oswal Securities on February 11.
- Symphony: To meet Quantum Advisors on February 11.
- Mahindra Logistics: To meet Locus Investment Group on February 11.
- Dixon Technologies (India): To meet Makrana Capital on February 11 and Sundaram MF and Sands Capital on February 12. To meet DSP MF on February 16 and Edmond de Rothschild Asset Management on February 17.
- Price Band Revised From 20% to 10%: Bajaj Electricals
- Ex-Date Interim Dividend: Coromandel International, Subex, Manappuram Finance, K.P.R. Mill, Transport Corporation of India, Procter & Gamble Hygiene and Health Care.
- Record Date Interim Dividend: Persistent Systems, Shriram Pistons & Rings, Orient Electric, Dr. Lal Path Labs, Sun Pharmaceutical Industries, Cummins India, Cholamandalam Investment and Finance Company, LT Foods, Indian Oil Corporation, VR Films & Studios.
- Ex-Date EGM: DCW
- Move Into ASM Framework: Somany Home Innovation
- Move Into Short-term ASM Framework: PNC Infratech, SKF India, Karur Vysya Bank, Harita Seating Systems, Minda Industries.