Focus on stocks on October 7: Titan, Sobha Limited, CreditAccess Grameen, Telecom Stocks to Banking Stocks; here are the 5 Newsmakers of the day
National stock markets posted losses of over 0.90% on Wednesday, October 6, 2021, amid negative global indices. The Sensex closed below the 59,500 mark while the Nifty settled below the 17,650 level. The BSE Sensex dipped 555 points, or 0.93%, to finish at 59,190. The NSE Nifty also lost 176 points, or 0.99%, to close at 17,646. But some stocks made the news after the market closed. These actions may impact the indices when it reopens on Thursday, October 7, 2021. List of these five actions:
Stocks to add in F&O: 8 new stocks will enter the F&O space in the November series starting October 29, 2021. The eight stocks are ATUL Ltd, Birlasoft Ltd, Chambal Fertilizer, Firstsource solution, GSPL, Laurus Labs, SBI Cards and Whirlpool India.
See Zee Business Live TV Streaming below:
Revision of the price range – Revision of the channel filter for 235 stocks
Increase from 5% to 20%: Nureca Ltd, Dhampur Sugar, Punjab Alkalies & Chemicals, NACL Industries, Shreyas Shipping, RSWM, Best Agro.
Increase from 10% to 20%: 5 Paisa, Angel Broking, Ruchi Soya, Majesco Ltd, Lux Industries, Ujjivan Financial Services, Avadh Sugar, Thomas Cook, Kamat Hotel, VST Tillers, Transport Corporation of India, BF Utilities, Dhani Services, NRB Industrial Bearing, Talbros Engineering, Suryoday Small Finance, Andhra Sugar and Dish TV.
Increase from 5% to 10%: Bambino Agro Industries, Magadh Sugar & Energy, Coffee day Enterprises, S Chand and Company, Hindustan Construction Company Ltd, Kingfa Science & Technology, KCP Sugar & Industries Corporation and Rushil Décor.
Business Updates: Titan + Sobha Limited + CreditAccess Grameen
Titan: The Indian luxury goods company said in its quarterly T2FY22 update on Wednesday that the company had seen a strong recovery in demand after the second wave. In its high point for the quarter, Titan said its jewelry segment revenue grew 78% year-over-year and opened 13 new stores in the quarter. The jewelry segment had a strong comeback in the second quarter of fiscal year 22 bs The plain and studded segments saw double-digit growth, but much stronger growth in the plain segment led to a studded mix lower than pre-pandemic levels. Watches and wearables saw 73% year-over-year revenue growth and opened 8 stores in the quarter. The division quickly recovered in the second quarter with an acceleration in sales observed in all product brands. E-commerce sales also continued their growth momentum. Walk-in visits continue to slowly improve with shopping malls and LFSs at 65% and 70% of pre-pandemic levels, respectively. Healthy growth was seen in the eyewear segment with revenue up 74% year over year and it opened 24 new stores in the segment in T2FY22. Healthy growth was seen in the segment and the division’s e-commerce push progressed well with the launch of the Titan Eyeplus app. Revenue from other activities increased 121% year over year. TCL (standalone) revenue grew 78% year-over-year and it opened 45 new stores in this quarter. The turnover of TEAL (Titan Engineering and Automation Ltd) fell by 43%. CaratLane’s business continued its growth path with strong consumer demand in the second quarter of FY22 and segment revenue increased 95% and it opened 2 new stores in the segment.
Sobha Limited: The company in its real estate operations update for the quarter ended September 30, 2021, said on Wednesday that it saw 49% year-on-year growth in sales bookings to Rs 1,030 crore in the second quarter of this fiscal year, compared to Rs 690 crore posted in the period of one year ago. Sequentially, the company sold properties worth Rs 683 in the previous quarter ended June 30, 2022. Sales value increased 62% year-on-year and 50% in QoQ to reach Rs 854 crore. The sales value was Rs 571 crore at T1FY21 and Rs 531 crore at T2FY21. The total realization of the average price in Rs / square feet increased to Rs 7,637 from Rs 7,626 at T1FY22, but fell by Rs 7,737 at T2FY21. The company achieved the best quarterly sales volume of 1,348,864 square feet of super agglomeration valued at Rs 10.30 billion. It also achieved the best Sobha share ever recorded with the sale value of Rs 8.54 billion.
CreditAccess Grameen: In its monthly activity update, the microfinance institution said the gross loan portfolio (GLP) grew 6.5% quarter-on-quarter and 22.9% year-on-year to reach 11,320 crore. Rs in September 2021, compared to Rs 11,155 crore posted in August 2021 and Rs 9,211 crore posted in September 2020, respectively. Disbursements fell 6% quarter-on-quarter, but increased 124.1% year-on-year to Rs 1,117 crore in September 2021, from Rs 1,188 crore posted the previous month and Rs 499 crore last month. last year, respectively. Collection efficiency was 93.3% (excluding arrears) and 99% (including arrears).
Telecom actions: Stocks like Vodafone Idea, Bharti Airtel and Reliance Industries will be the center of attention today as they take the strain off telecom players, the government has reduced the penalty for late payment of license fees. In addition, the Department of Telecommunications (DoT) has reduced bank guarantees for telecommunications companies and now companies will only have to give a 20% guarantee. The DoT also facilitated the process of installing mobile towers.
Bank shares: Global rating agency Moody’s on Wednesday changed the rating outlook for nine Indian banks from “negative” to “stable”. These lenders include State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda, Canara Bank, Punjab National Bank, Export-Import Bank of India, and Union Bank of India.