Sensex, Nifty Log Worst Week In Two Months
Catch all live updates on share prices, index moves, corporate announcements and more from the Sensex and Nifty, today.
KEY HIGHLIGHTS
Analysts Hike Target Price For Asian Paints Anticipating Market Share Gains From Shift To Organised Players
PNB Housing Falls As Analysts Flag Areas Of Concern
AGS Transact Technologies IPO Subscription Status: Day 3 Live Updates
HUL Logs Biggest Intraday Gain In Three Months As Analysts Remain Bullish Post Q3
Cyient Jumps The Most In Nearly Three Weeks As Most Analysts Remain 'Bullish' After Q3 Beat
Closing Bell
India's stock benchmarks logged the worst week in nearly two months since the week ending Nov. 26.
The S&P BSE Sensex and NSE Nifty declined for the fourth consecutive session, making it the longest losing streak in a month.
For the week, Sensex shed over 2,000 points while Nifty fell 600 points
All the sectoral indices declined in the week with NSE Nifty IT and Pharma indices leading the losses.
On Friday's session, the Sensex shed 0.72% to 59,037.18. The 30-stock gauge fell over 1.4% in intraday trade to 58,620.93. This is the first time the Sensex fell below 59,000 mark in nearly three weeks.
The Nifty also declined by similar magnitude to 17,617.15, the lowest closing level since Dec. 31.
Bajaj Finserv Ltd. had the largest drop, falling 5.4%. Today, 35 of 50 shares fell, while 15 rose.
The broader indices underperformed their larger peers with both the S&P BSE MidCap and S&P BSE SmallCap shedding 2%. Barring S&P BSE FMCG, all the other 18 sectoral indices compiled by BSE Ltd. declined with S&P BSE Telecom and Consumer Durables shedding 3%.
The market breadth was skewed in the favour of bears. About 1,017 stocks advanced, 2,361 declined and 88 remained unchanged.
"Equity markets in India witnessed volatility during the week ended Jan 21, 2022. Global equity markets were volatile as well on the back of expectations of faster interest rate hikes by the US Federal Reserve, rise in US bond yields, higher crude oil prices and concerns over rising inflation", Shibani Kurian, Senior EVP & Head - Equity Research, Kotak Mahindra Asset Management Company wrote in a note and added that "majority of companies are feeling the impact of higher input cost inflation leading to compression in YoY margins (in December quarter earnings). With demand being buoyant, we do expect companies to pass on some of higher input costs in terms of price hikes over the next quarter so as to protect margins".
SBI Life Erases Losses After Q3 Results
Shares of SBI Life Insurance Co Ltd. pared losses and rose nearly 1% after it reported net income for the third quarter than missed the average analyst estimate.
Q3 Results (Consolidated, YoY)
Net income up 56% YoY at Rs 364 crore vs Bloomberg consensus estimate of Rs 413 crore
Net premium income up 31% YoY at Rs 18,030 crore
Of the 38 analysts tracking the company, 36 maintained 'buy' and two maintained 'hold' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 20.2%.
Source: Bloomberg, Exchange Filing
Broader Indices Underperform Their Larger Peers, Down Nearly 2%
Hindustan Zinc Logs Biggest Intraday Gain In Over Two Weeks On In-Line Q3
Shares of Hindustan Zinc Ltd. rose over 2%, the biggest intraday gain in over two weeks to Rs 329.4 apiece after the company reported net income for the third quarter that met the average analyst estimate.
Third Quarter Results (Consolidated, QoQ)
Net income up 33.91% at Rs 2,701 crore vs Rs 2,017 crore (Bloomberg consensus estimate: Rs 2,680 crore)
Revenue up 31.60% at Rs 7,841 crore vs Rs 5,958 crore (Estimate: Rs 8,070 crore)
Total costs at Rs 4,411 crore vs Rs 3,571 crore
Other income at Rs 279 crore vs Rs 311 crore
Of the 20 analysts tracking the company, four maintained 'buy', eight maintained 'hold' and eight maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 5.9%.
Trading volume on the stock was three times the 30-day average volume, at this time of the day.
Source: Bloomberg, Exchange Filing
Bajaj Finserv Declines The Most In Intraday Trade In 11 Months
Shares of Bajaj Finserv Ltd. fell 5.5% in intraday trade to Rs 16,310.2 apiece. The stock has shed nearly 10% over the past two sessions after the company reported a decline in net profit in its December quarter earnings, on Thursday
Q3 Earnings (Consolidated, YoY)
Net profit down 2.6% at Rs 1,255.79 crore vs Rs 1,289.96 crore
Revenue up 10% at Rs 17,586.74 crore vs Rs 15,958.53 crore
Total costs at Rs 14,370.55 crore vs Rs 13,181.54 crore
Commentary
Company remains watchful of the covid situation, risk of that is expected to remain elevated in Q4FY2022.
Of the 11 analysts tracking the company, eight maintained 'buy' and three maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 6.4%.
Trading volume on the stock was over two times the 30-day average volume, at this time of the day.
Share price crossed below 50-day moving average, indicating potential downward price momentum.
Source: Bloomberg, Exchange Filing
HDFC Life Sheds The Most In Three Sessions After Q3 Miss
Shares of HDFC Life Insurance Co Ltd. shed nearly 2.5%, the steepest intraday decline after the company net profit for the quarter-ended December below average analyst estimate
HDFC Life Insurance Q3 ( Consolidated, QoQ)
Revenues down 30.5% at Rs 14223.78 cr vs Rs 20478.46 cr
Net profit down 0.2% at Rs 275.28 cr vs Rs 275.91 cr (Bloomberg consensus estimate: Rs 348 crore)
EBITDA down 0.1% at Rs 277.7 cr vs Rs 278.07 cr
Margins at 1.9% vs 1.4%
Of the 39 analysts tracking the company, 27 maintained 'buy', 11 maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 25%.
Source: Exchange Filing, Bloomberg
Polycab Declines The Most In Intraday Trade In 10 Months
Shares of Polycab India shed the most in intraday trade in 10 months after reporting net income for the December quarter above the average analyst estimate.
Third Quarter Results (Consolidated, QoQ)
Net profit up 26.39% at Rs 246.72 crore vs Rs 195.21 crore (Bloomberg consensus estimate: Rs 231 crore)
Revenue up 12.15% QoQ at Rs 3,372 crore vs Rs 3,006.56 crore (Estimate: Rs 3,287 crore)
Total costs at Rs 3,069.23 crore vs Rs 2,769.56 crore
Other income at Rs 21.65 crore vs Rs 27.48 crore
Of the 25 analysts tracking the company, 20 maintained 'buy', four maintained 'hold' and one mantained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 1.3%.
Trading volume on the stock was over three times the 30-day average volume, at this time of the day.
Source: Exchange Filing, Bloomberg
PVR Q3 Revenue Up 5.1 Times QoQ
PVR Ltd Q3 FY22 (Consolidated, QoQ)
Revenue up 5.1 times at Rs 614.15 crore vs Rs 120.32 crore
Net loss at Rs 10.18 crore vs Rs 153.13 crore
Ebitda turned positive to Rs 164.91 crore vs loss of Rs 68.13 crore
Source: Exchange filing
Hitachi Energy Jumps Over 16% In Three Sessions To A Record After Bagging Orders Worth Rs 160 Crore
Shares of Hitachi Energy India Ltd. rose as much as 13.77% to a record Rs 3,210.15 apiece.
The stock has risen over 16% over the past three sessions.
Hitachi Energy secured orders worth Rs 160 crore for electric components to support electrification of India's rail routes on Wednesday.
Trading volume on the stock was 22 times the 30-day average volume at this time of the day. The relative strength index on the stock is at 81, suggesting it may be overbought.
Source: Exchange Filing, Bloomberg
European Markets Decline
Jyothy Labs Pares Gains After Q3 Net Income Meets Estimate
Shares of Jyothy Labs Ltd. pared nearly 3% gains after the company reported net income for the third quarter that met the average analyst estimate.
December Quarter Results (Consolidated, QoQ)
Net income down 13.55% QoQ at Rs 38.43 crore vs Rs 44.57 crore (Bloomberg consensus estimate: Rs 38.63 crore)
Revenue down 7.91% QoQ at Rs 539.03 crore vs Rs 585.35 crore (Estimate: Rs 522 crore)
Total costs at Rs 495.332 crore vs Rs 535.58 crore
Other income at Rs 3.63 crore vs Rs 4.76 crore
Of the 18 analysts tracking the company, 16 maintained 'buy' and two maintained 'hold' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 33.1%.
Trading volume on the stock was nearly 2.5 times the 30-day average volume at this time of the day.
Source: Exchange Filing, Bloomberg
Mid-Day Market Update: Sensex, Nifty Off Day's Low; Jyothy Labs Q3 Net Income Meets Estimate
India's stock benchmarks recovered from day's low, but still traded with losses, dragged by losses in information technology, banks, consumer durables, metals and healthcare stocks. The S&P BSE Sensex and NSE Nifty 50 look on course to log the worst week in nearly two months.
The Sensex fell 0.44% to 59,203.71. The 30-stock gauge shed nearly 800 points (1.31%) in intraday trade to 58,683.01. The Nifty 50 declined by similar magnitude to 17,672.15. The 50-stock gauge fell to an intraday low of 17,525.35.
The S&P BSE MidCap underperformed its larger peers, losing 0.8% while the S&P BSE SmallCap almost mirrored Sensex and Nifty. Barring S&P BSE FMCG, Auto indices, all the other 17 sectoral indices compiled by BSE Ltd. declined, with S&P BSE Telecom and Consumer Durables falling over 1.7%.
The market breadth was skewed in the favour of bears. About 1,311 stocks advanced, 1,969 declined and 108 remained unchanged.
Analysts Hike Target Price For Asian Paints Anticipating Market Share Gains From Shift To Organised Players
Tata Teleservices Down Over 33% In Eight Sessions Since Opting To Convert Interest On AGR Dues Into Equity
Shares of Tata Teleservices Maharashtra Ltd. hit 5% lower circuit for the eighth consecutive session.
Over the last eight sessions, the stock has shed 33.59%.
The company opted to convert the interest on AGR dues into equity on Jan. 12.
This is the longest losing streak for the stock in a year
Source: Bloomberg, Exchange Filing
Analyst Actions: Hindustan Unilever, Bajaj Auto
Hindustan Unilever raised to 'buy' from 'accumulate' at Elara Securities; price target set at Rs 2,770.
Bajaj Auto raised to 'accumulate' from 'reduce' at Elara Securities; price target set at Rs 3,880.
Source: Bloomberg
PNB Housing Falls As Analysts Flag Areas Of Concern
Shares of PNB Housing Finance Ltd. fell 5% to Rs 462.5 apiece after analysts reduced target price after the company reported decline in net profit in the quarter-ended December
PNB Housing Q3FY22 (Consolidated, YoY)
NII down 22% at Rs 499.27 crore Vs Rs 640.45 crore
Net profit down 19% at Rs 188.45 crore Vs Rs 232.40 crore
GNPA at 7.64%
NNPA at 4.87%
Kapish Jain has resigned as the CFO effective April 8.
Analysts believe that the company's competitive position with banks is likely to deteriorate further with the higher cost of funds of 7.2-7.3%. The other major area of concern is the deterioration of asset quality and the ongoing struggle to raise capital, which have adversely impacted new business generation as well as AUM growth.
Analysts also highlighted that actual progress on business priorities such are targeting mass retail housing, cost management lagged expectations.
Of the 13 analysts tracking the company, five maintained 'buy', four maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of the analysts tracked by Bloomberg implied an upside of 5.7%.
Trading volume on the stock was nearly three times the 30-day average volume at this time of the day.
RBI Announces A Second Variable Rate Repo Auction
Variable rate repo auction of Rs 75,000 crore scheduled for today.
RBI had scheduled a Rs 50,000 crore variable rate repo auction for Thursday.
Alert: Repo auctions follow an increase in call money market rate to above 4%.
Alert: Repo auctions despite surplus liquidity conditions, even though size of surplus has reduced.
Source: RBI
AGS Transact Technologies IPO Subscription Status: Day 3 Live Updates
Retail and non-institutional investors continue to pile into AGS Transact Technologies Ltd.'s initial public offering on the third day.
This year's first mainboard IPO—for companies with a minimum post-issue paid-up capital of Rs 10 crore—was subscribed 1.42 times at the end of the second day and 88% on the first day.
Subscription Details: Day 3
The IPO was subscribed 3.89 times as of 1 p.m. on Jan. 21.
Institutional investors: 0.81 times.
Non-institutional investors: 11.13 times.
Retail investors: 2.55 times.
India Yield Curve Steady, Stocks Down
Maturities across the India sovereign yield curve were little changed in Friday morning trading.
The 1-year yield remained unchanged at 4.345%
The 10-year yield fell 1bp to 6.604%
The 18-year yield remained unchanged at 7.133%
The 2-year-10-year yield spread was 192.1bps, vs previous close 193.1bps
Source: Bloomberg
Shoppers Stop Surges The Most In Intraday Trade In Three Months
Shares of Shoppers Stop surged over 17.57% in intraday trade, the most in three months after the company reported net profit and sequential growth in revenue in Q3.
Share price rose to Rs 425 apiece, highest intraday level since July 2019.
ICICI Securities maintains 'add' and revises target price higher to Rs 405 from Rs 360.
Source: Exchange filing, Bloomberg, Brokerage Note
HUL Logs Biggest Intraday Gain In Three Months As Analysts Remain Bullish Post Q3
Shares of Hindustan Unilever logged the biggest intraday gain in three months, 2.44%, to Rs 2,317 apiece after analysts remained bullish on the company after it reported decade-high market share gains in the quarter-ended December.
Analysts expect improving portfolio mix, cost optimisation and price hikes to support operating margin.
They also expect synergies from GSK takeover to aid company's growth.
Of the 39 analysts tracking the company, 32 maintained 'buy', four maintained 'hold' and three maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 21.4%.
Trading volume on the stock was over six times the 30-day average volume, at this time of the day.
Source: Exchange Filing, Brokerage notes, Bloomberg
Mphasis Jumps The Most In Five Weeks
Shares of Mphasis Ltd. rose over 4%, the biggest intraday gain in over five weeks, to Rs 3,175 apiece after the company reported its Q3 results, post market hours Thursday.
Mphasis Q3FY22 Results (Consolidated, QoQ)
Net profit up 4.75% to Rs 357.68 crore vs Rs 341.46 crore (Bloomberg consensus estimate Rs 363 crore)
Revenue up 8.87% to Rs 3,123.72 crore vs Rs 2,869.23 crore (Estimate: Rs 3,043 crore)
Total costs at Rs 2,674.80 crore vs Rs 2,453.5 crore
Other income at Rs 30.65 crore vs Rs 43.94 crore
Of the 36 analysts tracking the company, 29 maintained 'buy', six maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 19.5%. Trading volume on the stock was nearly six times the 30-day average volume, at this time of the day.
Source: Exchange Filing, Bloomberg
Max Healthcare Has 2.54 Million Shares Change Hands In A Large Trade
Max Healthcare Institute Ltd. has 2.54 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
Cyient Jumps The Most In Nearly Three Weeks As Most Analysts Remain 'Bullish' After Q3 Beat
Shares of Cyient Ltd. rose 3.54%, the biggest intraday gain in almost three weeks, to Rs 1,010.75 apiece as analysts most analysts remained bullish on the company's growth prospects after it reported net income for the third quarter that beat average analyst estimate, post market hours Thursday.
While brokerages expect the supply side challenges due to chip shortage to continue to impact design-led manufacturing business, they anticipate robust growth momentum in high-margin services segment to offset any adverse impact on the earnings.
Growth in verticals such as communications, utilities, semi-conductor, automotive, medical devices and mining to continue for the next few years, according to brokerages.
They also maintained that the Ebit margins were well managed by the company despite scheduled wage hikes and lower billing days.
Cyient Q3FY2022 (Consolidated, QoQ)
Revenue up 6% at Rs 1,183.40 crore Vs Rs 1,111.60 crore
Net profit up 9% at Rs 131.8 crore Vs Rs 121.30 crore
Ebit up 5% at Rs 163.20 crore Vs Rs 155.5 crore
Margins at 13.79% Vs 13.99%
Of the 23 analysts tracking the company, 19 maintained 'buy', three maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 25.8%.
Trading volume on the stock was 10.5 times the 30-day average volume, at this time of the day.
Source: Exchange Filing, Brokerage notes, Bloomberg
All Constituents Of NSE Nifty bank Decline
All Constituents Of NSE Nifty IT Index Decline
Opening Bell: Sensex Opens 500 Points Lower; Nifty Sheds 1%
India's stock benchmarks opened lower, dragged by losses in information technology and banking stocks, amid weak global cues, even as focus shifts to earnings.
The S&P BSE Sensex fell 1.15% to 58,779.57. The NSE Nifty also declined by similar magnitude to 17,556.25. Bajaj Finserv Ltd. had the largest drop, falling 2.8%. In early trading, 46 of 50 shares fell, while 4 rose.
The S&P BSE MidCap almost mirrored its larger peers, losing 0.91%, while S&P BSE SmallCap outperformed Sensex and Nifty as it shed 0.56%. Barring S&P BSE Power, all the other 18 sectoral indices compiled by BSE Ltd. declined with S&P BSE Information Technology, Bankex, Consumer Durables and Teck shedding 1.5%.
The market breadth was skewed in the favour of bears. About 931 stocks advanced, 1,740 stocks declined and 91 remained unchanged.
Adani Wilmar Sets Price Range For Its Downsized Rs 3,600 Crore India IPO
Adani Wilmar Ltd. has set price range of Rs 218-230 per share for its IPO that seeks to raise Rs 3,600 crore ($484 million) selling new shares, according to an advertisement in Financial Express newspaper Friday.
The Ahmedabad-based FMCG food company aimed to raised as much as Rs 4,500 crore when it filed DRHP.
Investors can bid for minimum of 65 shares of face value Rs 1 each in the sale.
The IPO opens Jan. 27 and closes Jan. 31.
Kotak Mahindra Capital, JP Morgan, BofA Securities, Credit Suisse, ICICI Securities, HDFC Bank and BNP Paribas are managing the issue.
The company aims to use funds for development and expansion of manufacturing facilities, acquisitions and to repay loans
Source: Bloomberg
In Focus: Russia-Tied Stocks Amid Potential Ukraine Invasion Concern
Stocks with exposure to Russia may be active after Dow Jones reported Washington is allowing some Baltic states to send U.S.-made weapons to Ukraine, citing comments from U.S. officials.
In Focus: Dr. Reddy's Laboratories
Source: Bloomberg
Mphasis Q3 Net Income Misses Estimates
Mphasis Q3FY22 Results (Consolidated, QoQ)
Net profit up 4.75% to Rs 357.68 crore vs Rs 341.46 crore (Bloomberg consensus estimate Rs 363 crore)
Revenue up 8.87% to Rs 3,123.72 crore vs Rs 2,869.23 crore (Estimate: Rs 3,043 crore)
Total costs at Rs 2,674.80 crore vs Rs 2,453.5 crore
Other income at Rs 30.65 crore vs Rs 43.94 crore
Source: Exchange Filing, Bloomberg
Bond Traders Await Rs 24,000 Crore Weekly Auction
Traders are awaiting the sale of Rs 24,000 crore ($3.2 billion) of Indian government bonds at a weekly auction. A decline in U.S. Treasury yields and crude oil prices could provide some reprieve to Indian assets.
USD/INR rose 0.1% to 74.5100 on Thursday.
10-year yields rose 1 basis points to 6.61% on Thursday.
Global funds sold net Rs 4,680 crore of India stocks Thursday: NSE
They bought Rs 437 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 238 crore of corporate debt.
State-run banks bought Rs 388 crore of sovereign bonds on Jan. 20: CCIL data. Foreign banks bought Rs 361 crore of bonds.
Source: Bloomberg
Analyst Actions: Bajaj Finance, Hindustan Unilever
Bajaj Finance upgraded to 'buy' from 'sell' by Axis Capital; price target set at Rs 8,700.
Hindustan Unilever upgraded to 'buy' from 'add' by Axis Capital; price target set at Rs 2,730.
Source: Bloomberg
SGX Nifty Hints At Opening Losses; RIL, JSW Steel, HUL, HDFC Life, PNB Housing In Focus
U.S. equity futures declined and Asian stocks fell on Friday after a late-day reversal on Wall Street.
S&P 500 and Nasdaq 100 futures retreated. The tech gauge erased a near 2% rally Thursday before ending in the red. Japan, Australia and South Korea markets declined.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, fell 0.69% to 17,676.50 as of 8:10 a.m.
Meanwhile, a report that Washington is allowing some Baltic states to send U.S.-made weapons to Ukraine stoked geopolitical concerns. Treasury yields declined and a dollar gauge fluctuated. Oil was lower amid a surprise gain in U.S. crude stockpiles. Bitcoin fell to $40,700.
Earnings Post Market Hours
Hindustan Unilever Q3FY22 (Consolidated, YoY)
Revenue up 10% at Rs 13,439 crore Vs Rs 12,181 crore (Bloomberg estimate: Rs 13,010 crore)
Net profit up 19% to Rs 2,297 crore Vs Rs 1,937 crore (Bloomberg estimate: Rs 2,227.28 crore)
Ebitda up 15% to Rs 3,409 crore Vs Rs 2,963 crore (Bloomberg estimate: Rs 3,235.8 crore)
Margins at 25.4% Vs 24.3% (Bloomberg estimate: 24.9%)
HUL Q3 Results: Profit Meets Estimates, Volume Growth Slows On Weak Rural Demand, High Inflation
Havells India Q3FY22 (Consolidated, YoY)
Revenue up 15% at Rs 3,664.21 crore Vs Rs 3,175.20 crore
Net profit down 13% at Rs 305.82 crore Vs Rs 350.14 crore
Ebitda down 14% at Rs 440.11 crore Vs Rs 510.06 crore
Margins at 12% Vs 16.06%
Cyient Q3FY22 (Consolidated, QoQ)
Revenue up 6% at Rs 1,183.40 crore Vs Rs 1,111.60 crore
Net profit up 9% at Rs 131.8 crore Vs Rs 121.30 crore
Ebit up 5% at Rs 163.20 crore Vs Rs 155.5 crore
Margins at 13.79% Vs 13.99%
Container Corporation of India Q3FY22 (Consolidated, YoY)
Revenue up 10% at Rs 1,938.03 crore Vs Rs 1,766.89 crore
Net profit up 21% at Rs 284.61 crore Vs Rs 234.27 crore
Ebitda up 23% at Rs 461.38 crore Vs Rs 376.07 crore
Margin at 23.81% Vs 21.28%
Declared second interim dividend of Rs 2 per equity share.
Persistent Systems Q3FY21 (Consolidated, QoQ)
Revenue up 39% at Rs 1,491.71 crore Vs Rs 1,075.39 crore
Net profit up 46% at Rs 176.39 crore Vs Rs 120.92 crore
Ebit up 53% at Rs 208.30 crore Vs Rs 136.36 crore
Margins at 14% Vs 12.07%
Approved interim dividend of Rs 20 per equity share
Shoppers Stop Q3FY21 (Consolidated, YoY)
Revenue up 34% at Rs 958.11 crore Vs Rs 715.97 crore
Net profit at Rs 77.32 crore Vs Net loss of Rs 25.11 crore
Ebitda up 97% at Rs 183.89 crore Vs Rs 93.17 crore
Margins at 19.2% Vs 13%
PNB Housing Q3FY22 (Consolidated, YoY)
NII down 22% at Rs 499.27 crore Vs Rs 640.45 crore
Net profit down 19% at Rs 188.45 crore Vs Rs 232.40 crore
GNPA at 7.64%
NNPA at 4.87%
Kapish Jain has resigned as the CFO effective April 8.
South Indian Bank Q3 FY22 (Consolidated)
NII down 4% at Rs 572.87 crore Vs 596.39 crore (YoY)
Net loss at Rs 50.31 crore Vs Rs 91.62 crore (YoY)
GNPA at 6.56% Vs 6.65% (QoQ)
Stocks To Watch
PTC India: On the issue of corporate governance raised by three independent directors in their resignation letters, the company said the management is closely monitoring the situation and observed that there are differences of opinion at operation and board level on few issues. These issues are being looked into by a senior level committee of the company.
Aditya Birla Sun Life: Has received approval from International Financial Services Centres Authority to carry out portfolio management services from GIFT City, Gandhinagar.
Ultratech: Has executed a share purchase agreement for acquiring 100% equity shares in National Limestone Co.
PNB Housing Finance: Kapish Jain has resigned as chief financial officer.
Fermenta Biotech: Has signed a pact with Aurigene Pharmaceutical for exclusive licence of its proprietary biocatalytic technology for synthesis of Molnupiravir and supply its enzyme Candida Antarctica B Lipase to APSL, and APSL’s exclusive procurement of the enzyme from the company.
Fedex Securities: Announced an open offer of up to 5,58,373 shares of face value Rs 10 each, representing 16.34% of the voting share capital.
Accel: To buy 26% stake in Bizcarta Technologies India for up to Rs 5 crore.
Data Patterns India: Wins Rs 27 crore order from DRDO.
Natco Pharma: Pact with Medicines Patent Pool, Switzerland to make and sell Molnupiravir capsules.
Earnings: Reliance Industries, JSW Steel, HDFC Life Insurance Company, SBI Life Insurance Company, Hindustan Zinc, IDBI Bank, Bandhan Bank, Gland Pharma, L&T Finance Holdings, Vodafone Idea, PNB Gilts, Polycab India, Tanla Platforms, CSB Bank, PVR, Inox Leisure, Kajaria Ceramics, Jyothy Labs, Heritage Foods, RattanIndia Power, Gokaldas Exports, Kabra Extrusiontechnik, Max Ventures and Industries, Oriental Aromatics, Ramco Industries, Share India Securities, Supreme Petrochem, Supriya Lifescience, Wendt (India)