Stocks in Brief Monday: From Hdfc Bank, Tata Steel to Icici Prudential. Details here
After a long holiday, Indian markets are expected to resume activity on Monday, with fourth-quarter results, geopolitical tensions and inflationary pressures continuing to play a major role in the outlook. Benchmark Sensex and Nifty 50 witnessed a volatile final session as global indices priced in higher levels of inflation that dampened sentiment.
On Wednesday, Sensex closed at 58,338.93 down 237.44 points or 0.41%. While Nifty 50 settled at 17,475.65 below 54.65 points or 0.31%.
Commenting on the performance, S Ranganathan, Head of Research at LKP Securities, said: “Capital goods stocks were in demand expecting a recovery in CAPEX spending. March exports rose 20% , although the Street remains cautious about rising inflation and commodity prices and its impact on corporate earnings.The broader markets saw demand for hospitality, cement and gas stocks “
The markets were closed from April 14 to April 17 due to Ambedkar jayanti, Good Friday and weekend.
With markets opening on Monday, here is a list of key stocks that will be in the spotlight that day:
HDFC Bank: The Bank made a net profit of ₹10,055.2 crore on a stand-alone basis for the quarter ending March 2022 (Q4FY22), up 22.8% year-on-year. The bank’s net interest income, which is the difference between interest earned and interest spent, is ₹18,872.7 crores in the quarter under review, up 10.2% from ₹17,120.2 crores for the same quarter last year. Core net interest margin was 4% on total assets, compared to 4.2% on an interest earning assets basis for Q4FY22.
Tata Steel: Tata Steel is expected to consider a proposed stock split on May 3. Additionally, the company’s board will also review the dividend recommendations for the FY22 financial year. The board will meet to review and record the audited and unaudited consolidated financial statements and results for the quarter ended March 31, 2022.
ICICI Prudential: NBFC posted 189.5% growth in net profit to ₹185 crores in Q4FY22 versus ₹64 crores in the same quarter last year. Fourth quarter new business value was ₹775 crores up 31.1% year-on-year. The VNB margin was 28.0% for fiscal year 2022, compared to 25.1% for fiscal year 2021.
Mahindra and Mahindra: M&M said the company had agreed to sell 34,75,264 shares of ₹10 each held by the company in Mahindra Sanyo Special Steel, constituting 22.81% of the paid-up capital of Sanyo Special Steel following the exercise of a put option available to the company on Sanyo under the shareholders’ agreement.
Mahindra Holidays & Resorts India: The company plans to subscribe for an additional 4,88,321 shares of Rocksport in three installments for a total cash consideration of Rs12 crore. The first tranche of the acquisition was completed on Sunday April 16 when Mahindra Holidays acquired 1,62,774 shares of Rocksport for ₹4 crore.
Windlas Biotech: The company has received Good Manufacturing Practices (GMP) certificate from SAHPRA (South African Health Products Regulatory Authority). The company had been subject to the inspection audit from September 20 to 29, 2021.
InterglobeAviation: The Company’s Board of Directors (Board) has appointed Vikram Singh Mehta and Air Chief Marshal BS Dhanoa (Retired) as Independent Non-Executive Directors, subject to receipt of security clearance of the Ministry of Civil Aviation (MoCA) and the approval of the Society Members.
TV engine: The company acquired a 1.81% stake in Roppen Transportation Services (Rapido). The two-wheeler maker has clarified that its stake in Rapido will constitute less than 5% of Rapido’s shares or voting rights.