*Stocks To Watch*
• Axis Bank: Says report of Spandana Sphoorty buy speculative.
• Reliance Infrastructure: Approved fundraising of Rs 550.56 crore via preferential allotment to promoter group and Varde Investment Partners. The company will allot up to 8.88 crore shares or warrants convertible into equivalent number of shares. Funds to be utilised for 'long term resources, for general corporate purposes, fund future growth and also to reduce debt'.
• Punjab National Bank: To exit shareholding in Canara-HSBC-OBC life insurance venture in 12-18 months, said MD & CEO, CH Mallikarjuna Rao. Bank had been given forbearance till March 31, 2021, to exit second insurance business by the insurance regulator. Board has decided to exit the second business now that the merger process has been completed. PNB to continue holding its stake in PNB Metlife.
• RBL Bank: RBI has approved the reappointment of Vishwavir Ahuja as the MD and CEO of the bank for a period of one year effective June 30. Ahuja has been MD & CEO of RBL Bank since 2010.
• Bajaj Finance: Bounce rate in the April-June quarter is 1.08x of the rate in January-March due to the severity of the second wave, the company said. Expects gross and net NPAs to be higher in Q1 and Q2 due to collections constraints. The company expects incremental credit cost of Rs 1,100-1,300 crore than planned credit costs in FY22. Bajaj Finance's B2B and auto finance businesses were worst hit due to lockdown in April and May. Business volumes in these two businesses dropped to 70% of planned volumes in April and further dropped to 40% in May. The company estimates Rs 4,000-5,000 crore worth impact on AUM growth plan in FY22, with a higher impact in the first quarter.
• Jammu & Kashmir Bank: Approved raising up to Rs 500 crore by issue of equity shares through preferential allotment to Government of Jammu & Kashmir.
• Force Motors: The company's total production in May stood at 1,306 units. It reported domestic sales of 1,306 units and exports of 154 units.
• NHPC: Incorporated a joint venture company with Jammu and Kashmir State Power Development Corporation called Ratle Hydroelectric Power Corporation on June 1. The JV will implement Ratle Hydro-electric Project (850 MW) in the Chenab River Basin. NHPC will hold a 51% stake in the JV.
• Equitas Small Finance Bank: Collection efficiency in May stood at 77.84% compared to April’s 105.16%. Billing efficiency stood at 66.97% compared to April’s 84.68%.
• Welspun Corp: American Petroleum Institute has granted a license to manufacture SAWH pipes as per API specification 5L and to apply API monogram on the pipes effective May 26. This will help the company to cater to the needs of the Indian oil and gas market.
• Mishra Dhatu Nigam: Allotted 1000 commercial papers of Rs 5 lakh each aggregating to Rs 50 crore to Union Bank of India on a private placement basis.
• REC: Transferred entire shareholding of Fatehgarh Bhadla Transco and Sikar New Transmission-- the project-specific SPVs of the company-- at par value along with all their assets and liabilities to Power Grid Corporation of India on June 4.
• Ganesha Ecosphere: A major fire accident took place at the company's Kanpur Polyester Staple Fiber Unit on June 4 at around 3.30 am. No injuries were reported. The fire has caused major damage to the building, machinery, raw material and finished goods, the company said.
• Earnings: MRF, Central Bank Of India, Union Bank Of India, Mrs. Bectors Food Specialities, The New India Assurance Company, Dynamatic Technologies, Fairchem Organics, Jubilant Ingrevia, Seamec, SMC Global Securities, Yuken India
• Axis Bank: Says report of Spandana Sphoorty buy speculative.
• Reliance Infrastructure: Approved fundraising of Rs 550.56 crore via preferential allotment to promoter group and Varde Investment Partners. The company will allot up to 8.88 crore shares or warrants convertible into equivalent number of shares. Funds to be utilised for 'long term resources, for general corporate purposes, fund future growth and also to reduce debt'.
• Punjab National Bank: To exit shareholding in Canara-HSBC-OBC life insurance venture in 12-18 months, said MD & CEO, CH Mallikarjuna Rao. Bank had been given forbearance till March 31, 2021, to exit second insurance business by the insurance regulator. Board has decided to exit the second business now that the merger process has been completed. PNB to continue holding its stake in PNB Metlife.
• RBL Bank: RBI has approved the reappointment of Vishwavir Ahuja as the MD and CEO of the bank for a period of one year effective June 30. Ahuja has been MD & CEO of RBL Bank since 2010.
• Bajaj Finance: Bounce rate in the April-June quarter is 1.08x of the rate in January-March due to the severity of the second wave, the company said. Expects gross and net NPAs to be higher in Q1 and Q2 due to collections constraints. The company expects incremental credit cost of Rs 1,100-1,300 crore than planned credit costs in FY22. Bajaj Finance's B2B and auto finance businesses were worst hit due to lockdown in April and May. Business volumes in these two businesses dropped to 70% of planned volumes in April and further dropped to 40% in May. The company estimates Rs 4,000-5,000 crore worth impact on AUM growth plan in FY22, with a higher impact in the first quarter.
• Jammu & Kashmir Bank: Approved raising up to Rs 500 crore by issue of equity shares through preferential allotment to Government of Jammu & Kashmir.
• Force Motors: The company's total production in May stood at 1,306 units. It reported domestic sales of 1,306 units and exports of 154 units.
• NHPC: Incorporated a joint venture company with Jammu and Kashmir State Power Development Corporation called Ratle Hydroelectric Power Corporation on June 1. The JV will implement Ratle Hydro-electric Project (850 MW) in the Chenab River Basin. NHPC will hold a 51% stake in the JV.
• Equitas Small Finance Bank: Collection efficiency in May stood at 77.84% compared to April’s 105.16%. Billing efficiency stood at 66.97% compared to April’s 84.68%.
• Welspun Corp: American Petroleum Institute has granted a license to manufacture SAWH pipes as per API specification 5L and to apply API monogram on the pipes effective May 26. This will help the company to cater to the needs of the Indian oil and gas market.
• Mishra Dhatu Nigam: Allotted 1000 commercial papers of Rs 5 lakh each aggregating to Rs 50 crore to Union Bank of India on a private placement basis.
• REC: Transferred entire shareholding of Fatehgarh Bhadla Transco and Sikar New Transmission-- the project-specific SPVs of the company-- at par value along with all their assets and liabilities to Power Grid Corporation of India on June 4.
• Ganesha Ecosphere: A major fire accident took place at the company's Kanpur Polyester Staple Fiber Unit on June 4 at around 3.30 am. No injuries were reported. The fire has caused major damage to the building, machinery, raw material and finished goods, the company said.
• Earnings: MRF, Central Bank Of India, Union Bank Of India, Mrs. Bectors Food Specialities, The New India Assurance Company, Dynamatic Technologies, Fairchem Organics, Jubilant Ingrevia, Seamec, SMC Global Securities, Yuken India
Dividend Updates
👉🏻Yuken India Ltd Board recommends dividend of Rs. 0.60
👉🏻The Victoria Mills Limited board recommends dividend of Rs. 50
👉🏻Jubilant Ingrevia Ltd board recommends dividend of Rs. 0.35
👉🏻Mrs. Bectors Food Specialities Limited board recommends final dividend of Rs. 2.40
👉🏻Denis Chem Lab Ltd board recommends final dividend of Rs. 0.75
👉🏻Yuken India Ltd Board recommends dividend of Rs. 0.60
👉🏻The Victoria Mills Limited board recommends dividend of Rs. 50
👉🏻Jubilant Ingrevia Ltd board recommends dividend of Rs. 0.35
👉🏻Mrs. Bectors Food Specialities Limited board recommends final dividend of Rs. 2.40
👉🏻Denis Chem Lab Ltd board recommends final dividend of Rs. 0.75
5 Stocks under F&O ban for 9th June:
1️⃣ Indiabulls Housing Finance
2️⃣ SAIL
3️⃣ Sun TV Network
4⃣PNB
5⃣NALCO
1️⃣ Indiabulls Housing Finance
2️⃣ SAIL
3️⃣ Sun TV Network
4⃣PNB
5⃣NALCO
2 IPOs .. same dates 14-16 June 2021 :
1. Sona BLW
Price Band: 285-291
Lot: 51 Shares
Size: 5550 Crs
Retail 10%
GMP: Yet to start
2. Shyam Metalics
Price Band: 303-306
Lot: 45 Shares
Size: 909 Crs
Retail 35%
GMP: 133/-
1 more IPO may line up on these dates.
Stay connected !
1. Sona BLW
Price Band: 285-291
Lot: 51 Shares
Size: 5550 Crs
Retail 10%
GMP: Yet to start
2. Shyam Metalics
Price Band: 303-306
Lot: 45 Shares
Size: 909 Crs
Retail 35%
GMP: 133/-
1 more IPO may line up on these dates.
Stay connected !
#TOP10 #StocksInFocus
1- RIL
2- BATA
3- GAIL
4- ADANI ENT
5- NAZARA TECH
6- DHANUKA AGRITECH
7- ACCELYA SOLUTIONS
8- TATA MOTORS
9- TANLA PLATFORMS
10- INDRAPRASTHA MEDICAL / STAR CEMENT
1- RIL
2- BATA
3- GAIL
4- ADANI ENT
5- NAZARA TECH
6- DHANUKA AGRITECH
7- ACCELYA SOLUTIONS
8- TATA MOTORS
9- TANLA PLATFORMS
10- INDRAPRASTHA MEDICAL / STAR CEMENT
Here are the stocks to watch in trade today:
• Reliance Industries: Company said the Fluidized Catalytic Cracker Unit in the Jamnagar refinery had to be taken for an emergency shutdown on June 6. Some product shipments may get delayed and company is working on minimizing impact on customers. FCCU unit being repaired on top priority. All other units in the Jamnagar refining complex operating normally.
• GAIL India: Company plans to list two of its gas pipeline projects via an infrastructure investment trust, Chairman Manoj Jain said in an analyst call after the March-quarter earnings. The InvIT will replace GAIL’s earlier plan to spin off its gas transmission business into a separate unit.
• Prestige Estates Projects: Company expects annual sales to reach Rs 8,000-10,000 crore over the next three years as it expands presence to new cities, Chairman and Managing Director Irfan Razack said in an earnings call.
• MMTC: Lenders led by State Bank of India approved moratorium on loans and interest repayment. Company has signed the master debt resolution agreement and related documents with lenders for proposed debt restructuring.
• Tata Motors: Board constituted committee to meet on June 14 to consider raising Rs 500 crore via non-convertible debentures.
• Reliance Power: Board will meet on June 13 to consider and approve raising of long-term resources from domestic and/or global markets.
• Tube Investments: Board will meet on June 17 to consider authorising borrowing through various means including by way of issue of nonconvertible debentures on a private placement basis, in one or more tranches.
• Jet Airways: 22nd meeting of the Committee of Creditors is scheduled to be held on June 14.
• GMR Infrastructure: 72.14% of total shares held by promoters and promoter group entities are encumbered.
• Reliance Industries: Company said the Fluidized Catalytic Cracker Unit in the Jamnagar refinery had to be taken for an emergency shutdown on June 6. Some product shipments may get delayed and company is working on minimizing impact on customers. FCCU unit being repaired on top priority. All other units in the Jamnagar refining complex operating normally.
• GAIL India: Company plans to list two of its gas pipeline projects via an infrastructure investment trust, Chairman Manoj Jain said in an analyst call after the March-quarter earnings. The InvIT will replace GAIL’s earlier plan to spin off its gas transmission business into a separate unit.
• Prestige Estates Projects: Company expects annual sales to reach Rs 8,000-10,000 crore over the next three years as it expands presence to new cities, Chairman and Managing Director Irfan Razack said in an earnings call.
• MMTC: Lenders led by State Bank of India approved moratorium on loans and interest repayment. Company has signed the master debt resolution agreement and related documents with lenders for proposed debt restructuring.
• Tata Motors: Board constituted committee to meet on June 14 to consider raising Rs 500 crore via non-convertible debentures.
• Reliance Power: Board will meet on June 13 to consider and approve raising of long-term resources from domestic and/or global markets.
• Tube Investments: Board will meet on June 17 to consider authorising borrowing through various means including by way of issue of nonconvertible debentures on a private placement basis, in one or more tranches.
• Jet Airways: 22nd meeting of the Committee of Creditors is scheduled to be held on June 14.
• GMR Infrastructure: 72.14% of total shares held by promoters and promoter group entities are encumbered.
Stocks to watch.
Yes Bank: To seek shareholders approval to raise up to Rs 10,000 crore via issue of debt securities.
• NHPC: Approved raising up to Rs 4,300 crore through issuance of secured, redeemable, taxable, non-cumulative, non-convertible taxable corporate bonds in FY22.
• Suven Pharmaceuticals Ltd, CSIR-Indian Institute of Chemical Technology, Hyderabad and CSIR-National Institute of Interdisciplinary Science & Technology, Thiruvananthapuram have entered into an agreement for the process technology transfer and manufacturing of the anti-Covid drugs, Molnupiravir and 2-DG. This is a related party transaction as one of the Independent Directors of SPL, S Chandrasekhar, is also the Director of CSIR-IICT, Hyderabad. The agreements between the parties involve a total fee of Rs 8 lakh plus taxes for the grant of the licenses on a non-exclusive basis to SPL.
• GOCL Corporation: The company and its wholly owned subsidiary, IDL Explosives, have bagged orders of Rs 286.63 crore from Coal India. The company will supply raydets, electronic and other detonators and cartridge explosives over a period of 2 years to Coal India.
• Godrej Properties: Godrej Projects Development, a wholly owned subsidiary of the company, has acquired 20% issued and paid-up share capital of Vagishwari Land Developers for Rs 29.99 crore.
• Indian Bank: Declared the non-performing accounts of Emmsons International, Runit Fabrics and KR Corporation as fraud and reported them to the RBI.
• Reliance Industries: Partly paid-up equity shares will be entitled to dividend of Rs 3.50 per share for FY21.
• Mangalore Refinery and Petrochemicals: Approved the scheme of amalgamation of ONGC Mangalore Petrochemicals with the company. The amalgamation will create greater synergies between the business operations of both the companies, result in optimal utilisation of resources and will maximise returns to the entire group, the company said.
• Power Grid Corp: To consider a free share issue on June 17.
• Kolte-Patil Developers: Gopal Sarda has resigned as the Group CEO of the company effective June 10.
• Cosmo Films: Cosmo Speciality Chemicals, a subsidiary of the company, has launched a new product called Fabritizer, an after-wash laundry sanitizer for germ-free clothing.
• Earnings: DLF, BEML, Bharat Heavy Electricals, CG Power and Industrial Solutions, Cochin Shipyard, Deccan Cements, DFM Foods, Heranba Industries, Likhitha Infrastructure, Lumax Industries, Max Ventures and Industries, Patel Engineering, Sun TV Network
Earnings Post Market Hours
NHPC Q4FY21 (Consolidated, QoQ)
• Revenue down 32% at Rs 1,609.17 crore Vs Rs 2,359.68 crore
• Net profit down 51% at Rs 427.55 crore Vs Rs 869.21 crore
• Ebitda down 60% at Rs 548.10 crore Vs Rs 1,364.21 crore
• Ebitda margin at 34.1% Vs 57.8%
National Fertilizers Q4FY21 (Consolidated, QoQ)
• Revenue up 1% at Rs 2,961.17 crore Vs Rs 2,938.69 crore
• Net loss of Rs 9.53 crore Vs Net profit of Rs 52.89 crore
• Ebitda down 46% at Rs 114.03 crore Vs Rs 210.44 crore
• Ebitda margin at 3.9% Vs 7.2%
Eclerx Services Q4FY21 (Consolidated, QoQ)
• Revenue 20% at Rs 472.8 crore Vs Rs 394.30 crore
• Net profit up 38% at Rs 98.30 crore Vs Rs 71.20 crore
• Ebitda up 36% at Rs 152.40 crore Vs Rs 112 crore
• Ebitda margin at 32.2% Vs 28.4%
• Recommended dividend of Re 1 per share
• Constant currency growth at 19.3%. Offshore growth stronger than onshore.
Yes Bank: To seek shareholders approval to raise up to Rs 10,000 crore via issue of debt securities.
• NHPC: Approved raising up to Rs 4,300 crore through issuance of secured, redeemable, taxable, non-cumulative, non-convertible taxable corporate bonds in FY22.
• Suven Pharmaceuticals Ltd, CSIR-Indian Institute of Chemical Technology, Hyderabad and CSIR-National Institute of Interdisciplinary Science & Technology, Thiruvananthapuram have entered into an agreement for the process technology transfer and manufacturing of the anti-Covid drugs, Molnupiravir and 2-DG. This is a related party transaction as one of the Independent Directors of SPL, S Chandrasekhar, is also the Director of CSIR-IICT, Hyderabad. The agreements between the parties involve a total fee of Rs 8 lakh plus taxes for the grant of the licenses on a non-exclusive basis to SPL.
• GOCL Corporation: The company and its wholly owned subsidiary, IDL Explosives, have bagged orders of Rs 286.63 crore from Coal India. The company will supply raydets, electronic and other detonators and cartridge explosives over a period of 2 years to Coal India.
• Godrej Properties: Godrej Projects Development, a wholly owned subsidiary of the company, has acquired 20% issued and paid-up share capital of Vagishwari Land Developers for Rs 29.99 crore.
• Indian Bank: Declared the non-performing accounts of Emmsons International, Runit Fabrics and KR Corporation as fraud and reported them to the RBI.
• Reliance Industries: Partly paid-up equity shares will be entitled to dividend of Rs 3.50 per share for FY21.
• Mangalore Refinery and Petrochemicals: Approved the scheme of amalgamation of ONGC Mangalore Petrochemicals with the company. The amalgamation will create greater synergies between the business operations of both the companies, result in optimal utilisation of resources and will maximise returns to the entire group, the company said.
• Power Grid Corp: To consider a free share issue on June 17.
• Kolte-Patil Developers: Gopal Sarda has resigned as the Group CEO of the company effective June 10.
• Cosmo Films: Cosmo Speciality Chemicals, a subsidiary of the company, has launched a new product called Fabritizer, an after-wash laundry sanitizer for germ-free clothing.
• Earnings: DLF, BEML, Bharat Heavy Electricals, CG Power and Industrial Solutions, Cochin Shipyard, Deccan Cements, DFM Foods, Heranba Industries, Likhitha Infrastructure, Lumax Industries, Max Ventures and Industries, Patel Engineering, Sun TV Network
Earnings Post Market Hours
NHPC Q4FY21 (Consolidated, QoQ)
• Revenue down 32% at Rs 1,609.17 crore Vs Rs 2,359.68 crore
• Net profit down 51% at Rs 427.55 crore Vs Rs 869.21 crore
• Ebitda down 60% at Rs 548.10 crore Vs Rs 1,364.21 crore
• Ebitda margin at 34.1% Vs 57.8%
National Fertilizers Q4FY21 (Consolidated, QoQ)
• Revenue up 1% at Rs 2,961.17 crore Vs Rs 2,938.69 crore
• Net loss of Rs 9.53 crore Vs Net profit of Rs 52.89 crore
• Ebitda down 46% at Rs 114.03 crore Vs Rs 210.44 crore
• Ebitda margin at 3.9% Vs 7.2%
Eclerx Services Q4FY21 (Consolidated, QoQ)
• Revenue 20% at Rs 472.8 crore Vs Rs 394.30 crore
• Net profit up 38% at Rs 98.30 crore Vs Rs 71.20 crore
• Ebitda up 36% at Rs 152.40 crore Vs Rs 112 crore
• Ebitda margin at 32.2% Vs 28.4%
• Recommended dividend of Re 1 per share
• Constant currency growth at 19.3%. Offshore growth stronger than onshore.