The benchmark indices ended with steep losses on Friday, April 22, 2022.
The benchmark indices ended with steep losses on Friday, April 22, 2022. All the sectoral indices on the NSE ended in the red. US Fed chair’s comment about an aggressive rate hike of 50 bps by May spooked investors. The barometer index, S&P BSE Sensex slumped 714.53 points or 1.23% at 57,197.15. The Nifty 50 index shed 220.65 points or 1.27% at 17,171.95. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, April 25, 2022. List of such Stocks:
Q4FY22 Result
ICICI Bank: The private sector lender ICICI Bank on Saturday reported a 59.4% YoY rise in the standalone net profit at Rs 7,018.71 crore for the fourth quarter ended March 31, 2022. It had posted a profit of Rs 4,402.6 crore in the corresponding quarter of the previous financial year. Net interest income of the bank grew 20.8% YoY to Rs 12,604.6 crore compared to Rs 10,431.1 crore posted last year. Provisions at the bank declined 62.9% YoY to Rs 1,069 crore against Rs 2,883.5 crore while 304% QoQ from Rs 2,007.3 crore posted in the previous quarter ended December 31, 2021. The asset quality of ICICI Bank also showed an improvement with the ratio of gross non-performing assets (NPAs) falling to 3.6% from 4.96% on a year-on-year basis and 4.1% on a sequential basis. The Net NPA declined to 0.76% in Q4FY22 as against 1.14% posted in Q4FY21 and 0.85% posted in Q3FY22. On the deposit front, total deposits grew 14 YoY. The loan book grew 17% YoY. Retail loan growth stood at 20% YoY and SME Business grew 34% YoY. Net interest margin stood at 4% in Q4FY22 (All-time High) against 3.96% posted in Q3FY22. The board of directors recommended a dividend of Rs 5 per share. Other Highlights:
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Treasury gain of Rs 129 crore v/s Loss of Rs 25 crore YoY
Bank Makes additional contingency provision of Rs 1,025.00 crore on a prudent basis ~ Total Contingency provisions for FY22 is Rs 6425 crore.
The total Contingency provision on books as of now is Rs 7450 crore.
The Board has also approved the plan to raise Rs 25,000 crore through debt in the domestic market
It has also been approved to raise $150 crore through the international market
Rakesh Jha appointed as Executive Director for 5 years
Visakha Mulay resigns as Executive Director
Mr Anindya Banerjee appointed as Group CFO
All are effective from May 1, 2022
Aditya Birla Money Ltd: The Company has reported a 105.4% YoY rise in the consolidated profit at Rs 7.6 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 3.7 crore in the corresponding quarter of the previous financial year. Revenue from operations on a consolidated basis grew 23.3% YoY to Rs 60.4 crore compared to Rs 49 crore posted last year.
MMTC Ltd: The company has reported a consolidated loss of Rs 210.7 crore for the quarter ended March 31, 2022, against a loss of Rs 44.5 crore posted in the corresponding quarter of the previous financial year. Revenue from operations on a consolidated basis decline 65.8% to Rs 2,316.3 crore in the reported quarter against Rs 6,776 crore posted last year. EBITDA loss stood at Rs 26.1 crore in Q4FY22 against an EBITDA loss of Rs 5.78 crore posted in Q4FY21.
Tata Metaliks Ltd.: The company has reported a 30% YoY decline in the consolidated profit at Rs 52.5 crore for the quarter ended March 31, 2022, as against a profit of Rs 75 crore posted in the corresponding quarter of the previous financial year. Revenue from operations fell 22.2% YoY to Rs 807.9 crore in the reported quarter against Rs 660.9 crore posted last year. EBITDA fell 60.2% YoY to Rs 56.9 crore against Rs 143 crore posted last year. Margin dropped sharply to 7% in Q4FY22 against 21.6% posted in Q4FY21.
Sundram Fasteners Ltd.: The powder metallurgy part manufacturing company has reported a 23.7% YoY decline in the consolidated profit at Rs 107.4 crore for the quarter ended March 31, 2022, against a profit of Rs 140.8 crore posted in the corresponding quarter last year. Revenue from operations grew 5.3% YoY to Rs 1,340 crore against Rs 1,273 crore posted last year. EBITDA fell 19% YoY to Rs 191.7 crore against Rs 236.8 crore posted last year. Margin dropped to 14.3% in Q4FY22 against 18.6% posted in Q4FY21.
Bhansali Engineering: The petrochemical company has reported a 55% YoY decline in the consolidated profit of Rs 73.27 crore for the quarter ended March 31, 2022, against a profit of Rs 163.48 crore posted in the corresponding quarter of the previous financial year. Revenue from operations dropped 5.9% YoY to Rs 445.67 crore against Rs 473.42 crore posted last year. EBITDA fell 54% YoY to Rs 101.03 crore in the reported quarter against Rs 219.39 crore posted last year. Margin dropped to 22.67% in Q4FY22 against 46.34% posted in Q4FY21. Besides, the Board of Directors of the Company has recommended a final dividend of Re 1 per Equity Share for the financial year ended March 31, 2022. The board also approved the appointment of Mr Kiran Hiralal Bhansali as an additional director (designated as a whole-time director) of the company for a period of 5 years effective from April 23, 2022, to April 22, 2027, to hold office upto the ensuing annual general meeting. In addition, the company has increased the Overall ABS production from 65,000 TPA to 75,000 TPA without incurring any Capex, effective from April 1, 2022. The company will Enhance its overall ABS Production capacity to 2,00,000 TPA at the company’s existing plants by December 2024.
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Tejas Networks Ltd.: Tejas Networks reported a consolidated net loss of Rs 49.6 crore for the quarter ended March 31, 2022, against a net profit of Rs 33.6 crore in the corresponding quarter of the previous financial year. Consolidated net revenue during the quarter was Rs 126.5 crore, down 37.2% YoY from Rs 201.6 crore posted last year. It reported an EBITDA loss of Rs 88.2 crore in Q4FY22 against an EBITDA profit of Rs 30 crore posted in Q4FY21.
Stocks in News
LIC: LIC on Sunday filed a fresh draft red herring prospectus (DRHP) with markets regulator Sebi for the LIC IPO and is likely to file a red herring prospectus (RHP) today. In the new proposal, it had reduced the IPO size to 3.5% from 5% proposed earlier. It is expected the IPO will hit the market in the first week of May 2022.
FMCG + Adani Wilmar + Ruchi Soya + Godrej Agrovet: Indonesia has announced that it will ban the export of palm oil from April 28, 2022. India is among the biggest importers of palm oil from Indonesia as India’s 65% import of palm oil comes from Indonesia.
BPCL: The government has withdrawn its plan to divest the state-run Bharat Petroleum Corporation Ltd (BPCL) as it has plans to bring the disinvestment proposal after amendment. The report is based on Anil Agarwal, Chairman, Vedanta Resources statement during his talk with Money Control.
Reliance Ind / Future Group: Reliance Industries Ltd (RIL) said the Rs 24,713-crore retail deal with Future group cannot be implemented as the secured lenders of Future Retail Ltd (FRL) voted against it. Exposure To Future Group
Bank of India
Central Bank
RBL Bank
Axis Bank
YES Bank
IDFC First Bank
IndusInd Bank
Bajaj Finance
Tata Motors: Automotive major Tata Motors announced a weighted average price increase of 1.1% across its passenger vehicle (PV) range, owing to surging input costs.
HDFC Bank: The Board of Directors of the Bank at its meeting held on April 23, 2022, has recommended a dividend of Rs 15.50 per equity share of Re 1 each fully paid up (i.e.1550%) out of the net profits for the year ended March 31, 2022.
Hikal Ltd: Maharashtra Pollution Control Board (MPCB) has directed the company to shut down its manufacturing unit located at MIDC Taloja, Dist. Raigad, within 15 days of the receipt of the said direction. The Taloja unit had contributed approx. Rs 260 crores amounting to around 15% of the turnover of the Company for the financial year 2020-21.
IOL Chemicals & Pharmaceuticals Ltd.: The company has commenced the commercial production of ‘Paracetamol’ with an installed capacity of 1800 MTPA along with backward integration of Para Amino Phenol (PAP) with effect from April 22, 2022. Further, considering the present market scenario, the Company is in the process of enhancing the installed capacity for manufacturing the Paracetamol from 1800 MTPA to 3600 MTPA with a CAPEX of about Rs 25 Crore, which is expected to be completed during the Q3FY23.
Sarda Energy & Minerals: The Board of Directors of the Company has approved a dividend of Rs 7.50 per share. It has also approved the Buy-back of upto 8,11,108 equity shares of the face value of Rs 10/- each at Rs 1,500 per Equity Share aggregating to an amount not exceeding Rs 121.67 crores.
Sunflag Iron + Lloyd Metals & Energy: Sunflag Iron & Steel Company Limited has won an arbitration award against Lloyds Metals and Energy Limited (“LMEL”). Sunflag will get Rs 900 crore from LMEL and the payment will be made via Zero interest Optionally Fully Convertible Debentures (“OFCD”).
Religare Enterprises: Religare Enterprises Limited (REL) said on April 24, 2022, that it has resolved all legacy issues with the Securities and Exchange Board of India (Sebi). It resolved all old issues by paying the penalty of Rs 5.41 crore.
Maithan Alloys: Due to the prevailing precarious power supply position in Andhra Pradesh, Andhra Pradesh Electricity Regulatory Commission had permitted power distribution companies to impose a 50% cut in contracted demand of power for all 24 hours on Continuous Process Industries (which includes ferroalloy manufacturing companies) from April 8 to 22, 2022, i.e. for 14 days. However, due to non-improvement in power supply position, Andhra Pradesh Electricity Regulatory Commission has extended such restriction and control measures till 30.04,2022 i.e. for further 7 days and the same may be further extended i.e. beyond 30.04.2022, after reviewing the power supply position by the said Commission in due course of time. The production capacity of the company’s Vishakhapatnam unit is 120000 TPA. The expected per day of production loss of unit is equivalent to the percentage of power cut imposed on the Vishakhapatnam unit of the Company.
Bulk Deals
Voltas Ltd: T.ROWE PRICE ASSCOITES, INC & T.ROWE PRICE INTERNATIONL LTD bought 0.108% stakes or 3,57,417 equity shares of the company via Open Market on April 21, 2022.
PVR Ltd.: BlackRock Inc bought 0.06% stakes or 37,613 equity shares of the company via Open Market on April 21, 2022.
Quess Corp: Aditya Birla Sun Life Mutual Fund offloaded 2.0941% stakes or 30,72,341 shares of the company via Open Market on April 19, 2022.
