HERANABA: CO HAS RECEIVED ENVIRONMENTAL CLEARANCE FROM MINISTRY OF ENVIRONMENT, FOREST AND CLIMATE CHANGE OF GOVERNMENT OF INDIA, FOR EXPANSION OF PESTICIDES INTERMEDIATES, FUNGICIDES, HERBICIDES, INSECTICIDES
HCL Technologies announced a multi-year agreement with Fiskars Group. Fiskars Group is partnering with HCL to enable meeting their strategic objectives and to drive their digital transformation initiatives for an immersive omnichannel experience for their end customers and consumers. *Positive*
*Tata Steel:* Sales volume up 42% in Q1FY22 to 4.15 MnT YoY vs 2.93 MnT but down 11% QoQ vs 4.67 Mnt.
*Avenue Supermarts (Dmart) - Positive* - Q1FY22 revenues is expected to be Rs 5031 cr, a growth of 31% yoy however due to lockdown last year it is not comparable. The sales declined 13% from Q1FY20, which is marginal better than expectations. Also, the company should be benefitted from Q2FY22 onwards, given the overall economy is opening up
*CSB Bank Q1FY22 Business Update – Negative in near term*
• Total advances declined by 3.5% QoQ & increased by 24% YoY to Rs. 14,146 Cr.
• Gold advances declined by 8.2% QoQ & increased by 46% YoY to Rs. 5,618 Cr (40% mix). They declined QoQ owing to (i) shorter tenure of gold loans (1 year) resulting in higher repayments; (ii) subdued disbursements due to lockdowns; (iii) Reduction in LTV from 90% to 75%.
• Non-gold advances were flat QoQ & increased by 12% YoY (highest YoY growth since listing) to Rs. 8,528 Cr (60% mix).
• Total deposits declined by 2.5% QoQ & increased by 14% YoY to Rs. 18,653 Cr.
• CASA deposits were flat QoQ & increased by 29% YoY to Rs. 6,172 Cr Cr. CASA ratio was at 33.1% vs QoQ 32.2% & YoY 29.2%.
• Total advances declined by 3.5% QoQ & increased by 24% YoY to Rs. 14,146 Cr.
• Gold advances declined by 8.2% QoQ & increased by 46% YoY to Rs. 5,618 Cr (40% mix). They declined QoQ owing to (i) shorter tenure of gold loans (1 year) resulting in higher repayments; (ii) subdued disbursements due to lockdowns; (iii) Reduction in LTV from 90% to 75%.
• Non-gold advances were flat QoQ & increased by 12% YoY (highest YoY growth since listing) to Rs. 8,528 Cr (60% mix).
• Total deposits declined by 2.5% QoQ & increased by 14% YoY to Rs. 18,653 Cr.
• CASA deposits were flat QoQ & increased by 29% YoY to Rs. 6,172 Cr Cr. CASA ratio was at 33.1% vs QoQ 32.2% & YoY 29.2%.
Major Indian steel mills have announced a correction in HRC prices by around INR 1,500-2,000/t ($20-26) for July delivery owing to tepid demand and sluggish buying intertest. Negative