Snapping a five-day losing streak, the Indian benchmark indices settled with major gains on Wednesday, April 20, 2022
Snapping a five-day losing streak, the Indian benchmark indices settled with major gains on Wednesday, April 20, 2022. Domestic stock indices rose amid positive cues from global share markets. The barometer index, S&P BSE Sensex rallied 574.35 points or 1.02% at 57,037.50. The Nifty 50 index rose 177.90 points or 1.05% at 17,136.55. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, April 21, 2022. List of such Stocks:
Q4FY22 Result + OFS Update
Angel One: The stockbroker firm on Wednesday reported a 101% YoY rise in the consolidated profit at Rs 204.7 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 102 crore in the corresponding quarter of the previous financial year. The company’s revenue from operations grew 64.3% to Rs 671.3 crore as against Rs 408.6 crore posted last year. EBITDA grew 94% YoY to Rs 285 crore as against Rs 146.9 crore posted last year. The margins improved to 43.5% in Q4FY22 as against 36% posted in Q4FY21. Besides, the board has recommended a final dividend of Rs 9.25 per equity share as a combination of the interim and final dividend.
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ICICI Securities: ICICI Securities on Wednesday reported a 3.3% YoY growth in consolidated profit at Rs 340.3 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 329.5 crore in the corresponding quarter of the previous financial year. The company’s revenue from operations grew 20.6% YoY to Rs 891.7 crore as against Rs 739.3 crore posted last year. EBITDA grew 15.9% YoY to Rs 563.1 crore as against Rs 485.8 crore posted last year. Margins declined to 63.15% in Q4FY22 as against 65.7% posted in Q4FY21. Besides, the board has recommended a final dividend of Rs 12.75 per equity share of the face value of Rs 5 each.
Glenmark Life Sciences: The pharmaceutical company on Wednesday reported a 5.5% YoY decline in the profits at Rs 98.9 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 104.7 crore in the corresponding quarter of the previous financial year. Revenues from operations grew 10% YoY to Rs 514 crore in the reported quarter as against Rs 467.16 crore posted last year. EBITDA declined by 13.5% YoY to Rs 147.31 crore as against Rs 170.23 crore posted in March 2021 quarter. Margins also fell to 28.7% in Q4FY22 as against 36.4% posted in Q4FY21. Besides, the board has recommended a final dividend of Rs 10.50 per share (face value of Rs. 2/- each) on the Equity Share Capital of the Company for the financial year 2021-22.
Tata Elxsi: Design and technology services provider Tata Elxsi on Wednesday reported a 6% QoQ rise in the profits at Rs 160 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 151 crore in the previous quarter ended December 31, 2022. Revenues from operations grew 8.9% QoQ to Rs 691.8 crore in the reported quarter as against Rs 635.4 crore posted in the previous quarter. EBITDA grew 4.9% to Rs 221.2 crore as against Rs 210.8 crore posted in December 2021 quarter. Margins fell to 32% in Q4FY22 as against 33.2% posted in Q3FY22. The board had recommended a final dividend of Rs 42.50 per share for the financial year ended March 31, 2022 (FY22).
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INEOS Styrolution India OFS Update: The retail investors’ portion of the offer of sale (OFS) of the company was subscribed 3.59 times on Wednesday, the second and last day for bidding. The OFS had a base offer of 25,32,330 equity shares having a face value of Rs 10 each or 14.40% stakes of INEOS Styrolution. It has also kept an option to additionally sell 16,88,220 equity shares (9.60% stake) via the OFS. The floor price for the Sale shall be Rs 800 per Equity Share.
Stocks in News
Alembic Pharmaceutical/Strides Pharma Science: (NSE Notice). Alembic Pharmaceutical and Strides Pharma Science to exit F&O from the July series.
Gland Pharma: Nicomac Machinery, reportedly, will sell 24.5 lakh shares (1.5% stake) in Gland Pharma via block deals today. The floor price has been set at Rs 3,118 per share (5.2% discount on CMP of Rs 3,290 per share at NSE). With this, Nicomac Machinery will reduce its stakes in the company from 5.81% to 4.3%.
Tata Steel Europe: The European arm of Indian steel major Tata Steel said on Wednesday that the company will stop doing business with Russia amid the ongoing conflict with Ukraine. In a statement, the company said, “Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia.” The company imports coal from Russia for its steelmaking process. To ensure business continuity, all our steel manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end their dependence on Russia.
RBL Bank: The Board of Directors of the company has finalized the names of candidates for the position of regular Managing Director & CEO (MD & CEO) of the Bank and approved the making of an application to the Reserve Bank of India. Upon receipt of the requisite approvals from RBI, the Bank will make the necessary disclosures to the stock exchanges and shall seek the approval of the shareholders.
Fino Payments Bank / Suryoday Small Finance Bank: The Bank has received approval from the Reserve Bank of India (RBI) to carry out referral services of Term Deposits by partnering with Suryoday Small Finance Bank as a Business Correspondent. The Banks customers will be able to avail of Term Deposits facilities through Suryoday Small Finance Bank as Partner Bank with whom the Bank has tied up. This will also enhance the revenue of the Bank.
Dr Reddy: Dr Reddy’s Laboratories Ltd. has announced the launch of Posaconazole Delayed-Release Tablets, 100 mg, the therapeutic generic equivalent to NOXAFIL (posaconazole) Delayed-Release Tablets, 100 mg approved by the U.S. Food and Drug Administration (USFDA). The NOXAFIL brand and generic had U.S. sales of approximately $14.08 crore MAT for the most recent twelve months ending in February 2022 according to IQVIA.
DLF: The real estate major, reportedly, will invest Rs 1,700 crore to build a data centre and office in Noida in a 3.7 million square feet area.
Bulk Deals
Persistent Systems: Kotak Mutual Funds bought additional 21,566 shares from the open market on April 18, 2022, and increased its stakes in the company from 4.97% to 5%.
BLS International: Saint capital fund buys 5.25 lakh shares at Rs 340 per share.
HBL Power: Banyan tree growth capital sells 19.75 lakh shares at Rs 65.25 per share.
Manali Petrochemical: Premier Investment fund sells 8.8 lakh shares at Rs 141 per share.
Rama Steel Tubes: Eriska Investment fund buys 1.00 lakh shares at Rs 430 per share.
