18 January 2022:

• The Sensex fell 554.05 points or 0.90% to Rs 60,754.86.

• The Nifty50 index tumbled 195.5 points or 1.07% to end at Rs 18,113.05.

Top Trending Stocks On Quantale Dashboard:

Newsmakers Of The Day:

Earnings:

Bajaj Finance Q3FY22: Net profit Soars 84.4 % To Rs 1,934 crore, Beats Estimates

Leading non-bank lender Bajaj Finance reported a net profit of Rs. 1,933.9 crore for the quarter ended December, an increase of 84.4 percent, on a year-on-year basis. 

The non-banking finance company's net interest income (NII) in the third quarter increased by 40% to Rs 6,000 crore from Rs Rs 4,296, on a year-over-year basis.

Analysts had projected a 57.5 percent on-year growth in net profit at Rs. 1,804.8 crore, with a 17.3 percent rise in NII at Rs. 5,038.7 crore.

Interest income reversal in Q3 was Rs 241 crore, as against Rs 450 crore in Q3FY21.

Assets under management (AUM) rose by 26% to Rs 181,250 crore in the quarter ended from Rs 143,550 crore in a year-ago period. 

The financial company had the highest ever quarterly Core AUM growth of Rs 14,700 crore in the reporting quarter.

The total operating expenses to net interest income for the quarter ended was 34.7% versus 32.3% in the year-ago period.

The company’s Gross NPA and Net NPA in the quarter ended stood at 1.73% and 0.78% each compared to 2.45% and 1.10% in the second quarter. 

Moreover, Bajaj Finance's loan losses and provisions for the quarter stood at Rs 1,051 crore versus Rs 1,352 crore in Q3FY21.

Trident Q3FY22 Results: Net Profit Increases 88% To Rs 211 Cr

Textiles company Trident Ltd’s consolidated net profit for the third quarter ended in December 2021 grew 88% at ₹211 crore, as against ₹112 crore a year ago. 

Net Sales came in at Rs 1,980.01 crore for the said quarter, up 51.94% from Rs. 1,303.15 crore a year ago.

Quarterly Net Profit rose 88.22% to Rs. 211.09 crore from Rs. 112.15 crore in December 2020.

EBITDA was Rs. 409.70 crore in the third quarter as against Rs. 246.80 crore in the same quarter the previous year.

Trident EPS increased to Rs. 0.42 in December 2021 from Rs. 0.22 in December 2020.

ICICI Securities Q3FY22 Results: Net Profit Surges 42% YoY, Revenue Rises 52%

Stockbroker ICICI Securities posted a 42 percent year-on-year increase in net profit to Rs 380 crore for the quarter ended December on the back of user addition in Q3 and a boost in wealth management business.

The company‘s revenue rose 52 percent on-year to Rs 942 crore in Q3FY22, corresponding to Rs 620.1 crore in the same quarter a year ago. 

The EBITDA in the quarter was ₹608.3 cr while the EBITDA margin was 64.6 per cent, the company stated.

The company said it added over 6.8 lakh clients during the quarter, up by over 386 percent YOY, which turned out to be the highest quarterly addition for the sixth quarter in a row. 

Total client assets came in at ₹5.6 lakh crore on 31 December 2021, up 64 percent.

Highs & Lows 

Prestige Estates Projects Touches 52-Week High On Record Quarterly Sales Report 

Shares of Prestige Estates Projects rallied to a 52-week high of Rs 554.90 on NSE in Tuesday’s intraday after the firm posted impressive sales figures in the third quarter. 

The group reported the sales at Rs 4267.6 crore, up 111 percent year on year, and recorded the highest-ever quarterly collections of Rs 2431.6 crore, an increase of 70 percent YoY, Prestige Estates Projects said in its release.

During the first nine months of the fiscal, sales came in at a record Rs 7113.4 crore, and collections stood at Rs 5,005.4 crore, up 51 percent YoY.

Shares Of Indraprastha Gas Hit 52-Week Low 

The shares of Indraprastha Gas (IGL), an Indian natural gas distribution company, hit a new 52-week low of Rs 450.50 in Tuesday’s intra-day session on the BSE over worries of an aggressive influx of electric vehicles (EVs) into the capital. 

The government of Delhi on Saturday issued a draft "aggregator's policy", under which ride aggregators and delivery services will have to compulsorily adopt electric vehicles while procuring a new fleet.

"Ride aggregators and delivery services will have to mandatorily adopt electric vehicles in their new fleet. The Kejriwal government has become the first in India to draft an aggregator's policy to mandate EV fleet; the draft policy has been placed for public opinion for 60 days," a government statement said.

Mergers & Acquisitions

Reliance Retail Acquires 54% Stake In Addverb Tech; Becomes Largest Shareholder In Company

Reliance Industries Limited subsidiary Reliance Retail has acquired a 54 per cent stake in robotics startup--Addverb for USD 132 million (about Rs 983 crore). 

“This strategic partnership will help us leverage 5G, battery technology through new energy initiatives, advances in material sciences (carbon fibre) to deliver more advanced and affordable robots," said Sangeet Kumar, CEO and Co-founder, Addverb Technologies.

"With this investment, Reliance will hold around 54 per cent stake in Addverb. They become the largest shareholder in the company.”

Nazara Technologies Picks 55% Stake in Ad-Tech Company Datawrkz

Nazara Technologies has agreed to buy a 55 percent stake in programmatic advertising and monetisation startup Datawrkz, for a total consideration of up to Rs 124 crore, at a valuation of Rs 225 crore.

The company said the acquisition is being done through two tranches.

As per the company filing, Nazara will pick a 33% stake for INR 60 Cr, of which Rs 35 crore is partly payable in cash, and the balance 25 crore either through cash or share swap in the first tranche by April 22.  

In the second tranche, which is expected to close in Q4 FY23, the company has an option to acquire an additional 22 percent stake.

IPO Alert!

• The supply chain company, Delhivery, gets SEBI’s approval to raise Rs 7,460 crore via IPO. 

• Veranda Learning Solutions Limited, an online education platform, gets thumbs up from SEBI to raise ₹ 200 crore through an initial share sale.

• Car dealership chain-- Landmark Cars files DRHP papers with Sebi to raise over ₹750 crore.