New Delhi, June 11, 2020.
Key barometers ended with modest gains on Wednesday, June 10, 2020. The barometer S&P BSE Sensex rose 290.36 points or 0.86% at 34,247.05. The Nifty 50 index climbed 69.50 points or 0.69% at 10,116.15. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, June 11, 2020. List of such five stocks:
MGL/ Shriram Transport/ Century Textiles/ Indian Hotels/ HSIL: They are the companies that reported their financial results of the fourth quarter of the financial year 2019-20 (FY20) on Wednesday, June 10, 2020, after the market hours. Find details:
Mahanagar Gas (MGL): The Natural Gas Distribution Company, MGL reported a 10.5% quarter-on-quarter decline in profit to Rs 166.6 crore in the March quarter that ended on March 31, 2020. It posted a net profit of Rs 186.1 crore in Q3FY20. Revenue from operations stood at Rs 752.7 crore, 1.1% up against Rs 744.5 crore. EBITDA declined 5.8% to Rs 43.8 crore against Rs 258.8 crore posted in December quarter. Margin contracted to 32.4% against 34.8%.
Shriram Transport: The company on Wednesday announced financial results of Q4FY20 and reported a 70% year-on-year decline in standalone profit to Rs 223.4 crore. It posted a net profit of Rs 746 crore in the same period last year (Q4FY19). Net Interest Income (NII) grew 0.8% to Rs 1,917 crore against Rs 1,902 crore posted last year. The profit fell as the company made hefty provisions worth Rs 1,129 crore for the quarter, 109% up than Rs 540 crore that was made last year in the same quarter. On the quarter-on-quarter basis, the provisions grew by 154% against Rs 444 crore posted in Q3FY20. Gross NPA on quarter-on-quarter declined to 8.36% in Q4FY20 against 8.71% of Q3FY20.
Century Textiles and Industries: The company on Wednesday reported 36.1% year-on-year decline in consolidated net profit at Rs 77.3 crore for March quarter 2019-20 due to the impact of COVID-19. It logged a profit of Rs 121 crore in the January-March period a year ago. Revenue from operations was down 16.3% at Rs 786.2 crore as compared to Rs 939.6 crore in the year-ago quarter. EBITDA was Rs 74.5 crore, down 66.5% against Rs 222 crore and margin contracted to 9.5% from 23.6%. Besides, the board has recommended a divided on Rs 3 per share.
Indian Hotels (IHCL): Tata Group’s Indian Hotels Company (IHCL) on Wednesday reported financial results for the period ended March 31, 2020. It reported a 37.8% year-on-year decline in the consolidated profit to Rs 76.3 crore when compared to Rs 122.6 crore posted a year ago in the same period. Revenue from operation declined 14.6% to Rs 1,063 crore against Rs 1,244.3 crore posted in the corresponding period of the last fiscal. Its EBITDA for the period was Rs 207.9 crore, a drop of 26.9% compared to Rs 284.3 crore reported last year. Margins contracted to 19.6% from 22.8%. Besides, the board has recommended a dividend of Rs. 0.50 per equity share.
HSIL: HSIL LTD. has reported financial results for the period ended March 31, 2020. The company has reported a 90% year-on-year decline in net profit at Rs 3.4 crore in Q4FY20 against Rs 33.5 crore posted in Q4FY19. Revenue from operations was Rs 461 crore, a drop of 2.2% from Rs 472 crore posted in the corresponding quarter of last fiscal. EBITDA declined 35.4% to Rs 54.3 crore against Rs 84.1 crore of last fiscal. Margin contracted to 11.8% against 17.8%. Besides, the board has recommended a dividend of Rs 3 per equity share.
Telecom sector in Focus: The matter of adjusted gross revenue (AGR) will be heard by the Supreme Court today, on June 11. The hearing may include the government’s application that telecom companies be allowed to spread the payment of their dues over 20 years or less.
Cadila/IPCA Labs: The Department of Pharmaceuticals has given its nod for the lifting of the ban on the export of hydroxychloroquine (HCQ). Manufacturers except for SEZ/EOU Units have to supply 20% production in the domestic market. India had banned the export of hydroxychloroquine on March 25, with some exceptions, amid views in some quarters that the drug could be used to fight COVID-19. On April 4, it completely banned the exports without any exception.
Ramco Systems/ RBL Bank/ Adani Green/ Adani Transmission: Fund action was seen in these companies.
Ramco Systems: Vijay Kedia acquired 3.39 lakh shares (1.11%) at Rs 87.82 per share.
RBL Bank: Jasmine Capital Investments Pte acquired 1.67 crore shares (3.29%) at Rs 150.47 per share.
Adani Green Energy: Promoter Adani Trading Services released a pledge of 1.6 crore shares (1.02%) shares.
Adani Transmission: Released pledge of 0.08% shares.
Raymond: Suiting and shirting fabric manufacturing plant continues to remain shut due to subdued demand, while garmenting facilities have partially resumed operations. The company has said that the real estate business will pick-up only after the impact of a pandemic comes down.