Indian benchmark indices, Sensex and the Nifty, on Tuesday, November 2, 2021, slipped marginally amid mixed global cues.
Indian benchmark indices, Sensex and the Nifty, on Tuesday, November 2, 2021, slipped marginally amid mixed global cues. The BSE Sensex fell 109 points, or 0.18%, to trade at 60,029. The NSE Nifty also declined 41 points, or 0.23%, to trade at 17,889. In the broader market at BSE. The Mid-Cap index rose 0.55% and the Small-Cap index gained 1.11%. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, November 3, 2021. List of such five stocks:
IPO Update: Fino Payments Bank IPO + Policy Bazaar IPO + SJS Enterprises IPO + Sigachi Industries IPO
Fino Payments Bank IPO: Fino Payments Bank Limited’s initial public offering (IPO) was subscribed 2.03 times on Tuesday, the last day of the issue. The Qualified Institutional Buyers (QIBs) portion was subscribed 1.65 times while the Non-Institutional Investors (NIIs) portion and Retail Individual Investors (RIIs) portions were subscribed 0.21 times and 5.92 times, respectively. The employee portion was subscribed 0.93 times. The fintech company has fixed a price band of Rs 560-577 per share as the company seeks to raise up to Rs 1,200 crore from the public offering. Retail investors were allowed to place for a minimum of 25 Equity Shares and in multiples of 25 shares thereafter.
Policy Bazaar IPO: Initial Public Offering (IPO) of PB Fintech Limited, the owner of the online insurance aggregator and fintech Policy Bazaar and Paisa Bazaar, was subscribed 1.59 times on Tuesday, the second day for bidding for the public issue. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.16 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.13 times and 1.06 times, respectively. The issue will close today. The company has fixed the price band for the offer at Rs 940-980 per share as it seeks to raise around Rs 5,625 crore from the issue. The retail investors can buy a minimum of one lot of 15 shares for an amount of Rs 14,700, at the upper price band.
SJS Enterprises Limited IPO: Initial Public Offering (IPO) of the decorative aesthetics product company, SJS Enterprises, was subscribed 0.51 times on Tuesday, the second day for bidding for the public issue. The Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portion were subscribed 00.2 times and 0.44 times and 0.59 times, respectively. The Qualified Institutional Buyers (QIBs) portion was not subscribed. The issue will close today. The company has fixed the price band for the offer at Rs 531-542 per share as it seeks to raise around Rs 800 crore from the issue. The retail investors can buy a minimum of one lot of 27 equity shares for an amount of Rs 14,634, at an upper price band.
Sigachi Industries Limited IPO: Initial Public Offering (IPO) of the Hyderabad-based manufacturer of cellulose-based excipients, Sigachi Industries, was subscribed 23 times on Tuesday, the second day for bidding for the public issue. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.01 times while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 4.15 times and 21.5 times, respectively. The issue will close today. The company has fixed the price band for the offer at Rs 161-163 per share as it seeks to raise around Rs 125 crore from the issue. The retail investors can buy a minimum of one lot of 90 equity shares for an amount of Rs 14,670, at an upper price band.
Post Market Results
Bharti Airtel: Telecom services provider Bharti Airtel reported a 299% QoQ growth in the consolidated profit at Rs 1,134 crore for the quarter ended September 30, 2021, as against a profit of Rs 284 crore posted in the previous quarter ended June 30, 2021. Its revenue from operations improved by 5.48% QoQ to Rs 28,326 crore as against Rs 26,854 crore posted in the previous quarter. EBITDA grew by 6.39% QoQ to Rs 13,810 crore as against Rs 12,980 crore posted in June 2021. Margin improved marginally to 48.8% in Q2FY22 from 48.3% in Q1FY22.
Trent: Tata Group’s retail chain Trent has reported a standalone profit of Rs 125.6 crore for the quarter ended September 30, 2021, as against a standalone loss of Rs 48.1 crore posted in the year-ago quarter. Its revenues from operations grew 126% to Rs 1,020.4 crore as against Rs 452.1 crore posted last year. EBITDA grew 34.5 times to Rs 221.3 crore as against Rs 6.4 crore posted last year. Margins improved to Rs 21.7% in Q2FY22 from 1.4% posted in Q2FY21. The company has reported an exceptional loss of Rs 13 crore.
Bajaj Healthcare: The pharmaceutical company has reported a 15% YoY decline in the consolidated profit at Rs 17 crore for the quarter ended September 30, 2021, as against a profit of Rs 21 crore posted in the year-ago quarter. Sales declined 27% to Rs 151 crore as against Rs 207 crore posted last year. EBITDA also dropped by 15% to Rs 28 crore as against Rs 33 crore. However, the margin improved to 18.5% in Q2FY22 as against 15.9% posted in Q2FY21.
Bharat Gears: The gear manufacturer has reported a consolidated profit of Rs 8 crore for the quarter ended September 30, 2021, as against a loss of Rs 2 crore posted in the year-ago quarter. Sales grew by 46% YoY to Rs 187 crore as against Rs 128 crore posted last year. EBITDA grew by 88.8% YoY to Rs 17 crore for the reported quarter as against Rs 9 crore posted last year. Margin improved to 9% in Q2FY22 from 7% posted in Q2FY21.
Easy Trip Planners: The Indian online travel company has reported a 350% YoY rise in the consolidated profit at Rs 27 crore for the quarter ended September 30, 2021, as against Rs 6 crore posted in the year-ago quarter. Sales increased by 340% YoY to Rs 44 crore as against Rs 10 crore posted last year. EBITDA stood at Rs 21.4 crore for the reported quarter as against a negative EBITDA of Rs 2.3 crore posted last year. Margin improved to 48.6% in Q2FY22 from a negative margin of 23% posted in Q2FY21.
Minda Corp: The manufacturer of switches for 2/3 wheelers and off-road vehicles has reported a 51% YoY rise in the profit at Rs 39 crore for the quarter ended September 30, 2021, as against Rs 25.8 crore posted in the year-ago quarter. Its revenue from operations grew 11% YoY to Rs 731 crore as against Rs 656 crore posted last year. EBITDA grew 16% YoY to Rs 77 crore as against Rs 66.4 crore posted last year. Margins improved marginally to 10.5% in Q2FY22 from 10.1% posted in Q2FY21.
MTAR Technologies: The machine industry company has reported a 37% YoY rise in the consolidated profit at Rs 19 crore for the quarter ended September 30, 2021, as against Rs 13.9 crore posted in a year-ago quarter. Its revenue from operations grew 25% YoY to Rs 91.3 crore as against Rs 73.3 crore posted last year. EBITDA grew 22% YoY to Rs 29 crore as against Rs 24 crore posted last year. Margins fell marginally to 32.3% in Q2FY22 from 32.9% posted in Q2FY21.
Jai Corp: Textile bags company has reported a 27% YoY rise in the consolidated profit at Rs 12.7 crore for the quarter ended September 30, 2021, as against Rs 10 crore posted in a year-ago quarter. Its revenue from operations grew 58% YoY to Rs 187 crore as against Rs 118 crore posted last year. EBITDA grew 17% YoY to Rs 17.1 crore as against Rs 14.6 crore posted last year. Margins fell to 9.1 % in Q2FY22 from 12.2% posted in Q2FY21.
Laxmi Organic: The chemical manufacturer has reported a 40% YoY decline in the consolidated profit at Rs 14.5 crore for the quarter ended September 30, 2021, as against Rs 24.1 crore posted in a year-ago quarter. Its revenue from operations grew 48% YoY to Rs 608 crore as against Rs 409.7 crore posted last year. EBITDA declined 29% YoY to Rs 30.7 crore as against Rs 43.4 crore posted last year. Margins fell to 5% in Q2FY22 from 10.5% posted in Q2FY21.
GE Power: The company has reported a 5% YoY rise in the consolidated profit at Rs 39.3 crore for the quarter ended September 30, 2021, as against Rs 37.3 crore posted in a year-ago quarter. Its revenue from operations fell 17% YoY to Rs 732 crore as against Rs 887 crore posted last year. EBITDA declined 34% YoY to Rs 27.4 crore as against Rs 42 crore posted last year. Margins fell to 3.7% in Q2FY22 from 4.7% posted in Q2FY21.
Gillette India: Grooming products maker Gillette India has reported a 12% YoY rise in the consolidated profit at Rs 30.1 crore for the quarter ended September 30, 2021, as against Rs 26.9 crore posted in a year-ago quarter. Its revenue from operations grew 11% YoY to Rs 573 crore as against Rs 516 crore posted last year. EBITDA declined 4% YoY to Rs 125 crore as against Rs 130 crore posted last year. Margins improved to 21.8% in Q2FY22 from 25.6% posted in Q2FY21.
NOCIL: The chemical manufacturer has reported an 82% YoY rise in the consolidated profit at Rs 30.5 crore for the quarter ended September 30, 2021, as against Rs 16.8 crore posted in a year-ago quarter. Its revenue from operations grew 70% YoY to Rs 375 crore as against Rs 221 crore posted last year. EBITDA rose 58% YoY to Rs 50 crore as against Rs 31.7 crore posted last year. Margins fell to 13% in Q2FY22 from 14% posted in Q2FY21.
PNB Housing: The housing finance company has reported a 24.9% YoY decline in the consolidated profit at Rs 235 crore for the quarter ended September 30, 2021, as against Rs 313 crore posted in a year-ago quarter. Its revenue from operations dropped 23% YoY to Rs 503 crore as against Rs 651 crore posted last year. EBITDA fell 23% YoY to Rs 1,336 crore as against Rs 1,745 crore posted last year. Margins fell to 84% in Q2FY22 from 86.5% posted in Q2FY21.
Moil Board of Directors of the Company is scheduled to meet on November 10, 2021, to consider and approve Un-audited financial results of the Company for the half year ended on 30th September, 2021 as well as the buyback of the fully paid-up equity shares of the company.
Thirumalai Chemicals: The Board of the Company has approved the investment in a project to manufacture Phthalic Anhydride and Fine-chemicals at its site in Dahej in Gujarat, India. This is aimed at the large markets in Western India and for regional exports. The project includes a 90,000 ton per year Phthalic Anhydride unit. It is scheduled for commissioning in H2FY 23-24. The Project will use TCL’s in-house Technology.
M&M Financial Services: Announced that in the month of October 2021, the total disbursement grew by 20% YoY to Rs 2,650 crore. Collection efficiency stood at 91%.
Info Edge: It will invest Rs 41 crore in Metis Eduventures Private Limited.
Sterlite technologies: Will divest a minority stake in Metis Eduventures Private Limited.
Indian Hotels: The Board of Directors of the Company approved the issue of equity shares of the Company by way of a rights issue to the existing shareholders of the Company for an amount not exceeding Rs 2,000 crores. For this purpose, it will convene a meeting of the Rights Issue Committee – 2021 on November 9, 2021, inter-alia, for determination of issue price, rights entitlement ratio, record date and other terms of the issue.
Banks In Focus: RBI issues revised Prompt Corrective Action (PCA) and the new PCA to be implemented from January 1, 2022. The RBI said it would monitor three key areas, namely capital, asset quality and leverage, in the revised framework and breach of any risk threshold may result in invocation of PCA. Under the extant framework, the RBI also monitors profitability, besides the aforementioned areas. PCA is meant for bringing troubled banks back on track. Only Central Bank under PCA currently.
