Focus on actions on January 4: SCI, Marico, Vedanta, Biocon, RailTel and many others

The market started the 2022 calendar year on a strong note, with the Sensex and Nifty closing above 59,000 and 17,600 respectively. The S&P BSE Sensex jumped 929.40 points or 1.60% to 59,183 , 22. The Nifty 50 index jumped 271.65 points or 1.57% to 17,625.70. But some stocks made the news after the market closed. These actions may impact the indices when it reopens on Tuesday, January 4, 2022. List of these five actions:

SCI: Zee Business exclusivity. The process of divesting the Shipping Corporation of India (SCI) will accelerate. Sources familiar with the development have informed Zee Business that the Cabinet Secretary will have a discussion on the next step that will be required for the divestment from SCI. DIPAM plans to complete the process of selling the company soon. According to the sources, the non-core assets will be de-merged and placed in a new company, which will be listed separately. Financial bidders will bid for the core business. DIPAM sent a proposal relating to the divestment of SCI to MCA.

Commercial update

Marico: Marico in his quarterly update for Q3FY22 said the quarter was characterized by a slowdown in consumption patterns that affected the industry as a whole. This was mainly due to persistent inflation affecting aggregate disposable income as well as increasing mobility releasing some degree of pent-up demand for discretionary goods, services and out-of-home consumption. Rural demand has also been sluggish, albeit optical to some extent given the high base. Revenue growth in the quarter was double-digit, while volumes were flat, driven by weaker consumer sentiment and a strong base.

See Zee Business Live TV Streaming below:

However, on a 2 year CAGR basis, volume growth was close to our mid-term aspiration. Parachute coconut oil had a muted quarter on a high basis. Value-added hair oils showed lower value growth in the quarter, but saw double-digit value growth on a 2-year CAGR basis. The Saffola franchise has grown into the higher value age bracket, driven by strong growth of over 20% in food, which is on track to hit Rs 5 billion in revenue. This year. Edible saffola oils volumes fell, largely due to higher domestic consumption at the base and weak commercial sentiment due to fluctuating input prices. Premium Personal Care recorded widespread double-digit growth. Digital brands, Beardo and Just Herbs, have also followed expectations. International activities recorded strong growth in constant currencies on a healthy basis. All markets behaved positively, led by Bangladesh and a smart recovery in Vietnam.

Bank of Karnataka: In its quarterly update to T3FY22, the bank announced a 5% year-on-year and 2% quarter-on-quarter increase in the loan portfolio. Deposits increased 6.3% year-on-year and 2% quarter-on-quarter. The Bank’s CASA grew 31.31% year-on-year compared to 30.08% recorded in the same period last year.

HDFC Ltd.: Mortgage lender Housing Finance Development Corporation Ltd (HDFC) in its activity update for the quarter ending December 2021, said on Monday that the company had made loans in the amount of Rs 7,470 crore in T3FY22 by compared to Rs 7,076 crore posted in the corresponding quarter of the previous year. Gross dividend income for the quarter stood at Rs 195 crore compared to Rs 2 crore posted last year. Its liquidity cushion stood at approximately Rs 55,000 crore.

Dhani Services: The company in its business update informed that OneFreedom paying subscribers increased to 39 lakhs QoQ from 24.2 lakhs. The transaction number on the Dhani card increased from 2.9 crore to 6.3 crore QoQ.

Production update

Vedanta: The company announced its production performance update for T3FY22 and said cast aluminum production in our foundries was 5,79,000 tonnes at T3FY22, up 16% from T3FY21 and 2 % compared to T2FY22. The Lanjigarh refinery produced 472,000 tonnes of T3 FY22 alumina, 16% more than T3 FY21 and 8% less than T2 FY22. Iron ore production at Karnataka was 1.2 million tonnes, down 14% from T3FY21 and 4% from T2FY22 due to the impact on operations due to heavy rains from T3FY22 . Iron ore sales in Goa are 90% year-on-year and 42% quarter-on-quarter.

Hindustan zinc: The company in its production update for Q3FY22 said its integrated metal production was 261,000 tonnes, up 11% year-on-year and 25% quarter-on-quarter. Refined zinc production amounted to 214,000 tonnes, up 17% year-on-year and 32% quarter-on-quarter. Integrated silver production was 173,000 tonnes, down 5% year-on-year and up 14% quarter-on-quarter. Wind power production fell 12% year-on-year and 62% quarter-on-quarter. T3FY22’s integrated metal production was the highest quarterly integrated metal production on record.

Maruti Suzuki: The automaker announced its December production number and said total production stood at 1.52 lakh units in December 2021, down 1.9% from the 1.55 lakh units produced in December 2020 Total passenger vehicle production was 1.48 Lakh units, down 3.1% year-on-year from 1.53 Lakh units. . Total production of the Mini + compact sub-segment was 1.06 lakh units, down 6.1% year-on-year from 1.12 lakh units. Total production of passenger cars amounted to 1.079 lakh units, down 5.7%. In addition, setting a new record, Maruti Suzuki India Limited announced on Monday that it exported 205,450 vehicles in the year 2021. This is the highest export figure ever recorded by the company in a year. calendar year.

Ajmera Realty: Premium Real Estate Developer Ajmera Realty & Infra India ltd. recently signed a development agreement to undertake a redevelopment project of the Fairyland Co-operative Housing Society, located in a prime area of ​​Juhu in Mumbai. Funded by a mixture of debt and equity, this project is expected to generate a sales value of Rs 150 crore. The 10,520 square foot land will serve as a catalyst for the growth of quality housing and will consist of 15 apartments in a single tower with a total salable area of ​​approximately 30,000 square feet. This real estate project will mainly focus on residential apartments of 3 and 4 BHK apartments.

Biocon: The Board of Directors of the Company has approved the merger by absorption of Covidshield Technologies Private Limited (“CTPL”), a wholly-owned subsidiary of Serum Institute Life Sciences Private Limited (“SILS”), with and into Biocon Biologics Limited (“ BBL ”), a major subsidiary of Biocon Limited (“ the Company ”). Under the terms of the agreement, BBL will offer a 15% (fifteen percent) interest to SILS. BBL (post-merger of CTPL into BBL), will gain committed access to 100 million doses per year for 15 years, mainly from the next SILS vaccine facility in Pune with the rights to market the SILS vaccine portfolio ( including COVID-19 vaccines) for global markets

RailTel: The Board of Directors of the Company is scheduled to meet on Monday January 10, 2022 to review the interim dividend declaration, if applicable, for the 2021-2022 fiscal year. The Company has set Friday January 21, 2022 as the “registration date” in order to determine the eligibility of members entitled to the provisional dividend for the 2021-2022 financial year.

World Hinduja: The Company’s Board of Directors will meet on January 6, 2022 to examine and approve the interim dividend declaration, if applicable, for the 2021-2022 fiscal year; and proposal to declare the free issue of participating shares.

Wockhardt Ltd. : The Board of Directors of the Company will meet on January 6, 2022 to review and approve various fundraising options for the Company, as the Board deems appropriate.

Comments are closed.