Stocks in focus April 5: Hariom Pipe IPO, Bajaj Finance, Hindustan Zinc, Zomato, IndiGo and many more

Benchmarks surged on Monday, April 4, 2022, supported by a rally in the HDFC twins after the merger announcement. All NSE sector indices finished in the green. The S&P BSE Sensex added 1,335.05 points or 2.25% to 60,611.74. The Nifty 50 index gained 382.95 points or 2.17% to 18,053.40. Both indexes rose about 3.5% in two consecutive sessions. But some stocks made headlines after the market closed. These actions may have an impact on the indices when it reopens on Tuesday April 5, 2022. List of these actions:

IPO of Hariom Pipe Industries: Hariom Pipe Industries’ initial public offering (IPO) of Rs 130.05 crore closed with a subscription of 3.44 times on April 4, 2022, the fourth day of the auction. The part reserved for qualified institutional buyers (QIB) was subscribed 0.83 times and that of non-institutional investors (NII) at 1.93 times. The share of individual retail investors (RII) was subscribed 7.18 times. The problem will be closed today. The price range for the share issue of 85 lakhs has been set at Rs 144-153 per share. Investors can bid for a minimum of 98 shares and in multiples of 98 shares thereafter.

Q4FY22 Business Updates

Bajaj Finance: The company, in its business update for the quarter ended March 31, 2022, said its new loans booked in the current quarter were 6.3 million, up 14.6% , up from 5.5m in the fourth quarter of FY21. New loans booked in FY22 were 24.7bm, up 46.2%, from 16.9bm in FY21 . Assets under management (AUM) stood at approximately Rs 1,97,500 crore as of March 31, 2022, compared to Rs 1,52,947 crore as of March 31, 2021. Core AUM, i.e. net of IPO short term funding receivable of approximately Rs 5,400 crore as of March 31, 2022, was Rs 1.92,100 crore, an annual growth of 26%. Adding Core AUM to Q4 FY22 was around Rs 10,900 crore.

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Federal Bank Ltd: The private lender in its business update said its CASA deposits stood at Rs 67,132 crore as of March 31, 2022, representing a 15.0% year-on-year growth from Rs 58,370 Crore as of March 31, 2021 The CASA ratio reached 36.94% (FY22) from 33.81% (FY21). The bank’s total deposits stand at Rs 1,81,712 Crore, representing a growth of 5.3% from Rs 1,72,644 Crore as of March 31, 2021. The Bank’s gross advances increased by 9.5 % at Rs 1,47,644 Crore against Rs 1,34,877 Crore as of March 31, 2021.

IndusInd Bank Ltd: Private lender net advances increased by 13% YoY to reach Rs 2,39,307 crore as of March 31, 2022, from Rs 2,12,595 crore posted as of March 31, 2021. Total deposits increased by 15% YoY to reach Rs 2,93,685 crore as of March 31, 2022, against Rs 2,56,205 crore posted last year. The bank’s CASA ratio improved to 42.8% YoY in Q4FY22 from 41.8% in Q4FY21.

AU Small Financial Bank: The private lender reported on its performance in the quarter ended March 31, 2022 and said its total deposits stood at Rs 52,582 crore, up 46% YoY and 19% YoY. trimester. The bank’s CASA ratio increased to 37% in Q4FY22 from 23% in Q4FY21 and 39% in Q3FY22. Lending AUM stood at Rs 47,843 crore, up 27% YoY from Rs 37,712 crore and up 14% QoQ from Rs 42,023 crore posted in Q3FY22. Gross advances amounted to Rs 46,801 crore, up 32% YoY from Rs 35,356 crore and up 15% QoQ from Rs 40,719 crore posted in Q3FY22. Its collection efficiency improved to 112% MoM in March 2022 compared to 107% posted in February 2022. Collection efficiency is calculated with all money received during the month by borrowers (excluding seizure) in % of current billing for the month.

Hindustan Zinc Ltd. : The mining company released its production figures for the fourth quarter ended March 31, 2022 (Q4FY22). The company said mined metal production was 2,95,000 tonnes in Q4FY22, up 3% year-on-year from 2,88,000 tonnes in Q4FY21. Integrated salable metal production was 2,60,000 tonnes in Q4FY22, up 2% year-on-year from 2,56,000 tonnes. Integrated silver production was 162 tonnes in the reported quarter, down 20% year-on-year from 203 tonnes.

Limited Vedanta: The company, in its production release for the fourth quarter ended March 31, 2022, said cast aluminum production at its smelters increased 8% year-on-year to 5,72,000 tonnes.

MOIL: MOIL records best-ever high-grade manganese ore production and sales in FY22. The company in its revised statement said the company’s total revenue was Rs 1,436 crore in the financial year 2021-22 (provisional), registering a growth of 22% from the previous year’s revenue of Rs 1,177 crore. MOIL reached production of 12.31 lakh MT in FY 2021-22 compared to 11.43 lakh MT last year, an increase of 8%. Total sales at 12.12 lakh MT are almost at the same level as the previous year of 12.18 lakh MT.

Stocks in the news

Zomato: India’s Competition Commission has ordered an investigation into the conduct of food aggregators Zomato and Swiggy, which face allegations such as late payments, imposition of unilateral clauses and exorbitant commissions. It is also alleged that these companies use restaurant customer data. These online food delivery companies are under investigation after complaints were filed by the catering body National Restaurants Association of India (NRAI), which represents more than 50,000 restaurateurs across the country. The fair trade regulator has asked its chief executive to carry out a detailed investigation into the accusations and submit a report within 60 days. Zee Business had exclusively on February 21, 2022, reported that an investigation was underway into Zomato.

InterglobeAviation: Due to a technical problem, the Nagpur-Lucknow flight was forced to redo an emergency landing on origin after takeoff. The DGCA has ordered an investigation into the emergency landing of a company flight at Nagpur airport. Smoke was seen coming out of the aircraft. In addition, IndiGo announced on April 4, 2022 that it has appointed former IAS officer RK Singh as senior adviser to the budget carrier’s managing director effective immediately. As Senior Advisor, RK Singh will be part of IndiGo’s management team. In the past, RK Singh served as Joint Secretary in the Ministry of Civil Aviation.

IDFC / Bandhan Bank: Agreements to sell IDFC’s mutual fund business are reportedly in final stages and Bandhan Bank is the favorite name among interested parties. The trade size stands at Rs 4,500 crore.

Trust Capital: The company has received 55 Expressions of Interest (EOI) from interested parties as part of an insolvency resolution. The potential candidate for resolution includes names like Adani Finserve, Bandhan Financial Holdings, Brookfield and Capri Global, among others.

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