Stocks To Watch: RIL, ICICI Bank, Shree Cement, HDFC AMC, Piramal Enterprises
The Bombay Stock Exchange (BSE), right, stands on Dalal street in Mumbai. (Photographer: Adeel Halim/Bloomberg)

Stocks To Watch: RIL, ICICI Bank, Shree Cement, HDFC AMC, Piramal Enterprises

Asian markets have opened with modest gains on Monday morning with benchmarks in Japan, South Korea and Australia edging higher. Futures on the S&P 500 are fluctuating even after a historic surge in unemployment in the Country.

South Korea has warned of a second wave of Covid-19 infections even as France, U.K. and Italy reported fewer deaths since March. Treasuries are lower while West Texas Intermediate Crude fell 1.7 percent to $24.32 per barrel.

Here are the stocks to watch out for in today’s session:

  • ICICI Bank: Net profit rose 26 percent compared to last year while Net Interest Income grew 17 percent. Gross NPA improved to 5.53 percent from 5.95 percent while provisions rose 186 percent to Rs 5,967 crore sequentially. The management says 32 percent of their borrowers across retail and corporate segment have availed the moratorium.
  • Shree Cement: Revenue falls 2 percent compared to last year while net profit jumps 83.2 percent, led by a 116 percent rise in Other Income compared to last year. Operating profit rose 27.3 percent to a multi-quarter high of Rs 1,078.9 crore.
  • Sequent Scientific: Carlyle Group enters into binding agreement with promoters to acquire up to 74 percent equity stake. Promoters to sell up to 11.15 crore shares or 44.92 percent of their stake while Ascent India Fund to sell 1.41 crore shares or 5.69 percent of expanded voting share capital respectively at Rs 86 per share. The total sum aggregates to Rs 1,081.1 crore.
  • Reliance Industries: Saudi Arabia's sovereign wealth fund called the Public Investment Fund is considering purchasing a minority stake in Jio platforms, Bloomberg News reports citing local news agencies.
  • Hero MotoCorp: Reopens more than 1,500 customer touchpoints including authorised dealerships and service centres. These outlets contribute around 30 percent of the company's total domestic retail sales. The company has sold 10,000 units of motorcycles and scooters since the reopening of these customer touchpoints.
  • Lupin: Announced the closure of inspections carried out by the U.K. MHRA at its three manufacturing units in Pithampur. The inspection was carried out in January 2020.
  • Cipla: Gets Establishment Inspection Report (EIR) for its API facility in Bengaluru from the U.S. FDA. The inspection took place between January 20-24, 2020.
  • Minda Corp: Calls off Joint Venture with Shandong Beiqi Hai Hua Automobile Parts (China) for producing and selling automotive components. The JV had not commenced any business yet.
  • Goa Carbon: Production in April fall 74 percent to 4,436 Million Tonnes
  • Indiabulls Housing Finance: CARE reaffirms the long-term rating at CARE AA. The perpetual debt rating has been reaffirmed at CARE AA-. The rating outlook has been revised to negative. The short-term rating has been reaffirmed at CARE A1+.
  • VST Industries: Has partially resumed its manufacturing operations with restricted capacity and manpower in Telangana after obtaining necessary approvals.
  • J Kumar Infra: Gets Letter of Acceptance from NBCC for construction of SDMC headquarters in Delhi for a contract value of Rs 559.78 crore.
  • KPR Mills: Resumes operations of its units in Tamil Nadu and Karnataka
  • Bank Of Baroda: Reduces MCLR between 5-20 basis points across various tenors from May 12. One month MCLR now at 7.35 percent while one-year MCLR at 7.8 percent.
  • Union Bank of India: Reduces MCLR by up to 15 basis points across various tenors from May 11. One-year MCLR now at 7.7 percent while one-month MCLR at 7.25 percent.
  • India Nippon Electricals: Resumes partial operations at its Hosur, Pondicherry and Rewari plants after getting Government approval. The resumption is primarily being used to train employees and other stakeholders on Covid-19 related Standard Operating Procedures. Full fledged commercial operations will commence based on the demand and supply situation.
  • NLC India: One unit has started operations post the fire incident while the other two units will resume in a week.
  • Oracle Financial Services: Declares dividend of Rs 180 per share for FY20, sets record date at May 20.
  • Future Retail: Promoter Future Corporate Resources invoked pledge of 11.26 lakh shares on May 6
  • Rallis India: To meet Haitong Securities, First State Investments and others on May 12
  • Companies That Resumed Operations: Nocil, Plastiblends, JK Tyre, VST Tillers & Tractors, India Cements, Magma Fincorp, Pricol, India Glycols
  • Non-Nifty Earnings Today: Piramal Enterprises, ADF Foods, Godrej Agrovet, Godrej Properties, Motilal Oswal Financial Services, Orient Abrasives, Sonata Software, Subex, Wockhardt

Other Earnings After Market Hours

HDFC AMC Q4FY20

  • Revenue down 2 percent to Rs 476 crore
  • Net profit fell 10 percent to Rs 249.83 crore
  • Operating profit from core AMC business down 1 percent to Rs 359.6 crore
  • Fair Value Loss on Essel group exposure (net of tax) at Rs 71.3 crore
  • Asset Under Management as of March 2020 at Rs 3,19,000 crore
  • Board recommends dividend of Rs 28 per equity share of Rs 5 each for FY20
  • All numbers are standalone and compared on a year-on-year basis

Adani Transmission Q4FY20

  • Revenue up 25 percent to Rs 3,186.96 crore
  • Net profit down 60 percent to Rs 58.97 crore
  • Ebitda up 27 percent to Rs 1,105.6 crore
  • Ebitda Margin flat at 34.7 percent from 34.2 percent
  • All numbers are consolidated and compared on a year-on-year basis

Mahindra Holidays Q4FY20

  • Revenue down 3 percent to Rs 616.6 crore
  • Net loss of Rs 164.6 crore from net profit of Rs 46.15 crore
  • Ebitda up 38 percent to Rs 104.15 crore
  • Ebitda margins widen to 16.9 percent from 11.9 percent
  • One-time impact of change in tax rate of Rs 199.72 crore hits net profit

Bulk Deals

  • Laurus Labs: Eight Roads Management Mauritius sold 53.31 lakh shares or 4.99 percent stake at Rs 446.07 per shares while Bluewater Investments sold 85 lakh shares or 7.95 percent stake at Rs 441.26 per share.
  • Sobha: Anamudi Real Estates acquired 5.55 lakh shares or 0.59 percent stake at Rs 178.87 per share. Anamudi Real Estates is the promoter entity of the Godrej Group.
  • Apollo Pipes: Promoter Sameer Gupta acquired 75,000 shares or 0.57 percent take at Rs 329.98 per share.

Trading Tweaks

  • Move Into ASM Framework: TCI Developers
  • Move Out Of ASM Framework: Religare Enterprises, DHFL, MEP Infrastructure Developers, Kridhan Infra, Jain Irrigation Systems, Reliance Capital, Reliance Communications
  • Move Into Short-Term ASM Framework: Gujarat Apollo Industries
  • Move Out Of Short-Term ASM Framework: TV Today Network, Lincoln Pharmaceuticals
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