The equity benchmarks ended at record high levels on Tuesday, November 10, 2020, led by banks and financial stocks. The Sensex climbed 680 points or 1.60 per cent to settle at 43,278. The NSE Nifty-50 index also surged 170 points or 1.36 per cent to settle at 16,631. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, November 11, 2020. List of such five stocks:
Nifty: Power Grid, Shree Cement, Coal India
Post Market Results: Some companies, like Bata India, Infoedge, NMDC, Tata Power, posted their September quarter results after the markets were closed for trading purposes on Tuesday. These stocks are likely to be in action today when the market will open for trading purposes. Details:
Bata India: The footwear major Bata India on Tuesday reported a net loss of Rs 44.3 crore for the quarter ended September 30, 2020. The company has posted a net profit of Rs 71.3 crore in the corresponding quarter last year. Sales fell to Rs 367.8 crore in the reported quarter against Rs 721.9 crore posted last year. EBITDA stood at Rs 18 crore against Rs 185.2 crore posted last year. The margins contracted to 4.89% in Q2FY21 against 25.65% reported last year.
Info Edge India: Info Edge on Tuesday reported a 38.6% quarter-on-quarter decline in profit at Rs 51 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 83 crore for the period ended June 30, 2020. Revenue from operations dropped 8.6% to Rs 256 crore in the reported quarter against Rs 280 crore posted in the previous quarter. EBITDA stood at Rs 51.4 crore, down 50.6% from Rs 104 crore posted in last quarter. The margin fell to 20.1% in Q2FY21 against 37.1% posted in Q1FY21.
NMDC: The state-owned mineral producer NMDC on Tuesday reported a 10% rise in consolidated profit at Rs 772.5 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 701.5 crore in the corresponding quarter last year. Sales dropped 0.5% to Rs 2,229.8 crore in the reported quarter against Rs 2,241.7 crore posted last year. EBITDA dropped 2.8% to Rs 1,028.7 crore against Rs 1,058.4 crore posted last year. The margin dropped to 46.13% in Q2FY21 against Rs 47.21% posted in Q2FY20. Besides, the board of the company has announced a buyback of 13.12 crore equity shares of the company at Rs 105 per share for cash consideration not exceeding Rs 1378.05 crore. November 23, 2020, has been decided as the record date for the buyback.
Tata Power: Electric power distribution company Tata Power on Tuesday reported an 8.4% year-on-year rise in the adjusted consolidated profit at Rs 280 crore for the quarter ended September 30, 2020. It had reported a net profit of Rs 270 crore in the same quarter last year. Revenue from operations grew 8% to Rs 8,290 crore against Rs 7,678 crore posted last year. EBITDA stood at Rs 2,001 crore down 11.3% from Rs 2,256 crore posted last year. The margin declined to 24.1% in Q2FY21 against 29.4% posted in Q2FY20. The company in the regulatory filing said, the rise in revenue was mainly due to the acquisition of TPCODL (TP Central Odisha Distribution Ltd) and higher solar EPC (engineering, procurement and construction) revenue. Solar EPC orderbook stands at Rs 8,687 crore.
Gland Pharma IPO: The Rs 6,480 crore IPO of the Hyderabad-based Gland Pharma was subscribed 0.22 times on the second day of subscription. The non-institutional investors (NIIs) quota was subscribed 2.3%, while the QIB quota was subscribed 47.8%. The portion set for retail investors was subscribed 14.3%. The price band for the offer has been fixed at Rs 1,490-1,500 per share. The issue will close today, i.e. on November 11, 2020.
MSCI Index: MSCI, a leading provider of research-based indexes and analytics, announced its results of the November 2020 Semi-Annual Index Review on Tuesday after the market was closed. The shares that will be included in the India domestic index are ACC, Adani green, Apollo hospitals, Balkrishna Industries, IPCA Lab, Kotak Mahindra Bank, L&T Info, MRF, Muthoot Finance, PI Industries, Trent and Yes Bank. The stocks that will face exclusion from the index include Bosch, LIC Housing Finance. These changes will be effective from November 30, 2020.
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State Bank of India (SBI): The Executive Committee of the Central Board of Directors of State Bank of India has approved the divestment of 8,510 equity shares constituting 8.51% of Bank’s stake in UTI Trustee Company Private Limited. The stake divestment was announced to comply with the Regulation 78 of Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulation, 2018 subject to all regulatory approvals.
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