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Stocks in Focus on May 19: Bharti Airtel, Vedanta to Indiabulls Housing Finance; here are expected Newsmakers of the Day

Stocks in Focus on May 19: The market slumped Monday, May 18, 2020, amid broad-based selling pressure, with banks stocks losing the most. Unimpressive economic stimulus, rising cases of Covid-19 in India and extension of nationwide lockdown dented investors sentiment. The barometer S&P BSE Sensex tumbled 1,068.75 points or 3.44% at 30,028.98. The Nifty 50 index lost 313.60 points or 3.43% at 8,823.25. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, May 19, 2020. List of such five stocks:

Bharti Airtel/ Torrent Power/ GSK Pharma/ AstraZeneca/ Delta Corp: These companies have declared their March quarter results after the market closed on Monday. Find Details:

Bharti Airtel: Telecom major Bharti Airtel reported a net loss of Rs 5,237 crore in the quarter ended March, compared with a loss of Rs 1,035 crore in December quarter. The consolidated revenue for the quarter came in at Rs 23,723 crore, a growth of 8% quarter-on-quarter (QoQ) on a reported basis. Its revenue stood at Rs 21,947 crore in the December quarter. Highest revenue growth Airtel clocked in at least 30 quarters. EBITDA stood at Rs 10,326 crore, up 10%, against Rs 9,350 reported in the previous quarter. The margin was 43.5%. The company’s average revenue per user (ARPU) for the quarter came in at Rs 154 as compared to Rs 135 in the previous quarter. ARPU jumps to 11 quarters high. Overall net exceptional one-time loss after tax of Rs 5050 crore on account of reassessment of regulatory cost based on a recent judgment on one-time spectrum charge. The company recommended a dividend of Rs 2 per share, in line its policy of passing through dividends received from Bharti Infratel.

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Torrent Power: Torrent Power Ltd on Monday announced a consolidated net loss of Rs 274 crore for the fourth quarter ended March 2020, as against the net profit of Rs 24.80 crore in the corresponding quarter last year. Company has registered consolidated revenues of Rs 2,983 crore, up 2%, for the quarter under review, as against Rs 2,924 crore in the same quarter last year. Its EBITDA stood at Rs 827 crore, up 16.5%, against Rs 710 crore posted in the same quarter last year. Torrent Power has attributed the quarterly loss to one-off impairment assessment of 1,200-MW DGEN Mega Power Project located at Dahej in South Gujarat. Based on such assessment, the company has provided for impairment loss of Rs 1,000 crore, which has been disclosed as an ‘Exceptional item’ in the standalone financial results.
AstraZeneca: The pharma company on Monday reported a 2.6% year-on-year (YoY) increase in revenue at Rs 195 crore in the March quarter FY20. Its revenue stood at Rs 190 crore the corresponding quarter last year. Its profit remained almost flat at Rs 9.58 crore against Rs 9.82 crore posted last year. The company’s EBITDA stood at Rs 14.8 crore against 6.37 crore posted last year. Margin also grew to 7.6% Vs 3.35%. 

GlaxoSmithKline Pharmaceuticals (GSK Pharma): Drug firm GlaxoSmithKline Pharmaceuticals on Monday reported a 5.95 per cent decline in its consolidated net profit to Rs 138 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 147 crore for the same period previous fiscal. Consolidated revenue from operations stood at Rs 776 crore for the quarter under consideration. It was Rs 751 crore in the same period a year ago. Its EBITDA stood at Rs 173 crore against Rs 163 crore posted last year. The Board of Directors recommends a dividend of Rs 40 per equity share which includes a special dividend of Rs 20 per share for this year.
Delta Corp: The company on Monday reported financial results for the period ended March 31, 2020, and reported a consolidated profit of Rs 29 crore, down 49%, against Rs 56.7 crore posted a year back in the same quarter. Its revenue from operations stood at Rs 181 crore, down 11%, from Rs 204 crore posted a year ago. The company’s EBITDA stood at Rs 47.6 crore, down 48%, from Rs 92.2 crore posted last year. Margin declined to 26.5% against 45% reported in the March quarter of previous fiscal.

Vedanta Limited: The board of Vedanta Limited on Monday approved a proposal for delisting of the company after taking into the record a due diligence report dated May 18, 2020, by SBI Capital Markets. The nod was given to the company to seek shareholders’ approval for the de-listing proposal by way of a special resolution through postal ballot and e-voting. Mining baron Anil Agarwal-controlled Vedanta Resources will offer Rs 87.5 per share to nearly 49 per cent public shareholders of Vedanta Ltd. However, the final offer price for the delisting proposal will be determined following the reverse book building mechanism,” the company said.

Tata Consumer Products: Tata Consumer Products Limited (TCPL) on Monday said it will acquire PepsiCo’s stake in NourishCo Beverages Limited (NourishCo/Company), a 50:50 joint venture between the two companies. This move is consistent with Tata Consumer’s focus on widening its portfolio in the food and beverages space, the company said in a statement. The transaction is expected to be completed on or before June 30, 2020. The total cost of acquisition is Rs 29 crores for the shares. 

AU Small Finance Bank: Company’s promoter Chiranji Lal Agarwal has offloaded 25 lakh shares of the company as Rs 414.6 apiece. Besides, the Government of Singapore has bought 19.69 lakh shares of the company at Rs 414.6 apiece.

Indiabulls Housing Finance: The Company has redeemed (bought back) Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each issued by the company. Buyback of these NCDs, which are maturing in September 2020, was undertaken to elongate the liability maturity profile of the Company.

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