Stocks To Watch: IndusInd Bank, IndiGo, Cyient, L&T, J&K Bank, Maruti Suzuki, Nestle India
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: IndusInd Bank, IndiGo, Cyient, L&T, J&K Bank, Maruti Suzuki, Nestle India

Indian stocks on Tuesday declined in line with Asian peers as China’s regulatory crackdown pulled down stocks in the region while local companies continued to report disappointing earnings. The S&P BSE Sensex shed 0.52% to 52,578.76, and NSE Nifty 50 Index fell by a similar magnitude to 15,746.45.

Here are the stocks to watch in trade today:

  • GMR Infrastructure: Groupe ADP and GMR Group have executed industrial partnership, demonstrating their intent to cooperate with each other and a shared global vision for the airport sector. The objective of this strategic partnership is to leverage on each party's expertise and resources, with a view to improve service level and product offering to passengers and airlines, the company said.

  • Housing and Urban Development Corporation: Government of India’s offer-for-sale in HUDCO gets 196% demand from non-retail investors on the first day. Bids receive at indicative price of Rs 45.03 per share versus floor price of Rs 45. Government will exercise option for selling additional 5 crore shares in the offer, taking the total size to 16.01 crore shares, or 8% of the company’s equity. The OFS for retail investors opens today.

  • L&T: To merge L&T Hydrocarbon Engineering, a wholly-owned subsidiary of the company, with itself. The scheme is subject to necessary statutory and regulatory approvals. L&T and L&T Hydrocarbon Engineering are in similar lines of business that can be combined for creation of a much stronger energy portfolio, the company said.

  • Axis Bank: The right of Bain to appoint Nominee Director has been extended for a further period of 3 years. As per the 2017 investment agreement between the bank and BC Asia Investments VII Limited, Integral Investments South Asia IV and BC Asia Investments III, Bain was given the right to jointly appoint one non-retiring non-executive director on the Board of Directors of the bank for a period of 4 years, from December 19, 2017. The bank on Tuesday approved the amendment to this investment agreement.

  • Jammu and Kashmir Bank: The Reserve Bank of India has allowed the Government of Union Territory of Ladakh to acquire 4.58 crore fully paid-up equity shares of Re 1 each, representing 8.23% of the paid-up equity capital of Jammu and Kashmir Bank.

  • RITES: Secured a road sector consultancy work order of Rs 19.10 crore from National Highways and Infrastructure Development Corporation.

  • Cyient: Cyient Australia Pty, a wholly-owned subsidiary of the company, to acquire 100% stake in Workforce Delta, a global consultancy company, for $2.7 million. The acquisition is expected to be completed within one week.

  • SBI, Axis Bank, Indian Bank, Bank of Baroda, Kotak Mahindra Bank, IndusInd Bank, PNB and RBL Bank have each subscribed to 50,000 equity shares of IBBIC Private Limited, representing 5.55% of the issued and paid-up capital of the company, at Rs 10 each aggregating to Rs 5 lakh on July 26.

  • Bajaj Healthcare: Board to consider stock split in August 13 meeting.

  • KPR Mill: Approved sub-division of one equity share of Rs 5 each fully paid-up into five equity shares of Re 1 each fully paid up, subject to the approval of the members of the company.

  • Astec LifeSciences: Temporarily halted operations at manufacturing units in Mahad due to flooding, caused by continuous rains in the Raigad district in Maharashtra.

  • Filatex India: To increase polycondensation capacity by 50 TPD and put-up additional manufacturing facilities for 120 TPD of Polyester Partially Oriented Yarn at Dahej plant. The company presently has polycondensation capacity of 1,050 TPD. The expansion will cost company Rs 130 crore and is expected to be completed in 12 months. The company will also replace two existing POY lines (144 ends) with two new POY lines (192 ends) along with replacing winders in one POY line with new winders. The company presently has yarn manufacturing net capacity of 110 TPD at its plant at Dadra. This proposed project will increase the POY capacity of the plant by 5 TPD. The project will cost company Rs 8 crore.

  • Earnings: Maruti Suzuki India, Nestle India, IDBI Bank, United Breweries, Central Bank Of India, Coforge, Oracle Financial Services Software, Embassy Office Parks REIT, Happiest Minds Technologies, ABB India, SRF, Mahanagar Gas, Apcotex Industries, JM Financial, Route Mobile, Pfizer, Birlasoft, UTI Asset Management Company, Wabco India, Welspun India, Century Textiles & Industries, Intellect Design Arena, Tata Coffee, Gateway Distriparks, Grindwell Norton, Geojit Financial Services, Greenpanel Industries, Heritage Foods, HSIL, ICRA, Mahindra Lifespace Developers, Mold-Tek Packaging, MPS, Radico Khaitan, Ramco Systems, RPG Life Sciences, Sagar Cements, SIS, TCI Express, TeamLease Services, Usha Martin

Earnings Post Market Hours

IndusInd Bank Q1FY22 (Consolidated)

  • Net Profit up 99.2% at Rs 1,016 crore Vs Rs 510 crore (YoY) (Bloomberg estimate: Rs 802 crore)

  • NII up 7.7% at Rs 3,564 crore Vs Rs 3,309 crore (YoY) (Bloomberg estimate: Rs 3,569 crore)

  • GNPA at 2.88% Vs 2.67% (QoQ)

  • NNPA at 0.84% Vs 0.69% (QoQ)

  • Provisions down 1.6% at Rs 1,844 crore Vs Rs 1,865.59 crore(QoQ)

  • Added Rs 2,762 crore worth bad loans

  • Write offs stood at Rs 938 crore

  • Bad loans amounting to Rs 845 crore were upgraded and Rs 589 crore was recovered

  • Sold a Rs 830-crore bad loan for Rs 400 crore to an asset reconstruction company during the quarter

  • Deposits up 26% at Rs 2.67 lakh crore Vs Rs 2.11 lakh crore (YoY)

IndiGo Q1FY22 (Consolidated, QoQ)

  • Revenue down 52% at Rs 3,006.90 crore Vs Rs 6,222.90 crore (Bloomberg Estimate: Rs 3,190 crore)

  • Net loss at Rs 3,179 crore Vs Rs 1,159 crore (Bloomberg Estimate: Rs 1,979 crore loss)

  • Ebitda loss of Rs 1,418 crore Vs Ebitda gain of Rs 616 crore (Bloomberg Estimate: Rs 214 crore)

  • Basic earnings per share was negative Rs 82.47

  • Total debt stood at Rs 31,690.10 crore

  • Total cash balance at Rs 17,067.90 crore

Torrent Pharmaceuticals Q1FY22 (Consolidated, QoQ)

  • Revenue up 10% at Rs 2,134 crore Vs Rs 1,937 crore (Bloomberg estimate: Rs 2,169 crore)

  • Net profit up 2% at Rs 330 crore Vs Rs 324 crore (Bloomberg estimate: Rs 359 crore)

  • Ebitda up 16% at Rs 677 crore Vs Rs 582 crore (Bloomberg estimate: Rs 679 crore)

  • Margins at 31.7% Vs 30% (Bloomberg estimate: 31.3%)

Granules India Q1FY22 (Consolidated, QoQ)

  • Revenue up 6% at Rs 849.84 crore Vs Rs 799.31 crore

  • Net profit down 6% at Rs 120.20 crore Vs Rs 127.56 crore

  • Ebitda flat at Rs 201.42 crore Vs Rs 201.99 crore

  • Margins at 23.7% Vs 25.3%

  • Declared first interim dividend of 0.25 paise per share

  • Growth was driven by new launches and increased market share for existing products

Dalmia Bharat Q1FY22 (Consolidated, QoQ)

  • Revenue down 18% at Rs 2,589 crore Vs Rs 3,146 crore

  • Net profit down 64% at Rs 227 crore Vs Rs 627 crore

  • Ebitda down 8% at Rs 704 crore Vs Rs 765 crore

  • Margins 27.2% Vs 24.3%

Karnataka Bank Q1FY22 (Consolidated)

  • NII up 7% at Rs 574.79 crore Vs Rs 535.12 crore (YoY)

  • Net profit down 46% at Rs 105.91 crore Vs Rs 196.38 crore (YoY)

  • GNPA at 4.82% Vs 4.91% (QoQ)

  • NNPA at 3% Vs 3.18% (QoQ)

  • Provisions up 7.6% at Rs 368.08 crore Vs Rs 341.83 crore

Godawari Power & Ispat Q1FY22 (Consolidated, QoQ)

  • Revenue down 9% at Rs 1,126.18 crore Vs Rs 1,236.64 crore

  • Net profit up 39% at Rs 472.07 crore Vs Rs 340.38 crore

  • Ebitda up 22% at Rs 573.13 crore Vs Rs 469.62 crore

  • Margins 50.9% Vs 38%

  • Approved interim dividend of Rs 5 per share

  • Approved investment up to Rs 70.20 crore for acquisition of additional equity shares proposed to be offered by Hira Ferro Alloys Limited on preferential basis to GPIL

  • To set up integrated steel plant with a capacity of 1.5 to 2 Million Tons of Flat Products in Chhattisgarh under PLl Scheme

Pledge Share Details

  • Hatsun Agro Product: Promoters RG Chandramogan and C Sathyan revoked pledge of 24.70 lakh shares on July 27.

    As reported on July 27.

Bulk Deals

  • Himadri Speciality Chemical: BC India Investments sold 25 lakh shares (0.60%) at Rs 52.50 per share.

  • Punjab Alkalies & Chemicals: Plutus Wealth Management LLP bought 2.50 lakh shares (0.57%) at Rs 114.44 per share.

Trading Tweaks

  • Ex-Date Final Dividend: L&T, Mrs. Bectors Food Specialities, Cadila Healthcare, Computer Age Management Services, Prataap Snacks, Godfrey Phillips India, Granules India, Orient Cement

  • Ex-Date Dividend: V-Guard Industries

  • Record Date Final Dividend: Pidilite Industries, Lupin, EPL

  • Record Date Dividend: Gabriel India

  • Record Date Interim Dividend: HCL Technologies

  • Price Band Revised From 20% To 10%: Wheels India

  • Move Into Short-Term ASM Framework: Schaeffler India, Indo Count Industries

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