January 20, 2022:

• The Sensex fell 634.2 points, or 1.1 percent to 59,464.6.

• The Nifty closed 181.4 points or 1.0 percent lower at 17,757.

Top Trending Stocks On Quantale Dashboard:

Highlights Of The Day:

Earnings:

Asian Paints Q3 PAT Declines 18% YoY To Rs 1,016 Cr

Asian Paints reported a 17.9 per cent year-on-year decline in its consolidated net profit at Rs 1,016 crore for the October-December quarter. In Q3FY21, the net profit was Rs 1,238 crore. 

The company's consolidated revenue from operations increased 26 per cent to Rs 8,527 crore as against Rs 6,788 crore a year ago.

EBITDA (earnings before interest, tax, depreciation and amortisation) for the third quarter fell 13.7 percent on-year to Rs 1,542 crore. On a sequential basis, it reported a growth of 70.5 percent.

EBITDA was affected by higher raw materials costs as crude and derivative prices shot up. The cost of raw materials as a percentage of revenues rose by 5.3 percent YoY to 47.9 percent.

The EBITDA margin stood at 18.1 percent, as against 26.3 percent a year ago. In the second quarter, the EBITDA margin was 12.7 percent.

Bank of Maharashtra Q3 Net Sales Jumps 2X To Rs 325 Cr

Bank of Maharashtra reported a 110.7 per cent rise in net profit at Rs 325 crore for the quarter ending 31, December 20201, as against Rs 154 crore in Q3FY21. At the end of the current fiscal’s second quarter, the bank's net profit was Rs 263 crore.

Net Interest Income (NII) saw a rise of 16.90 percent to Rs 1,527 crore in the reporting quarter as against Rs 1,306 crore a year ago. On a sequential basis, the growth was flat with NII of Rs 1,500 crore in the second quarter of FY22. 

Bank’s net interest margin (NIM) marked a slight uptick at 3.11 per cent in Q3FY22 from 3.06 per cent in Q3FY21. On a sequential basis, NIM decreased from 3.27 per cent in Q2FY22.

The non-Interest income jumped 6.35 percent YoY to Rs 611 crore in the third quarter from Rs 575 crore in the same quarter last year. Sequentially, it fell from Rs 832 crore in Q2FY22.

Bank’s gross Advances increased to Rs 1,29,006 crore in Q3FY22, up 22.98 percent YoY, as against Rs 1,04,904 crore in Q3FY21.

Its Gross NPA fell 4.73 per cent in the December quarter from 7.69 per cent a year ago and 5.56 percent, on a sequential basis.  

The bank wrote off NPAs of Rs 500 crore in the reporting quarter.

The Net NPA shrank to 1.24 percent in the third quarter from 2.59 per cent a year ago and 1.73 per cent from September ending quarter of fiscal 2022.

Khaitan Chemicals and Fertilizers Q3 Net Sales Jumps Over 150% Y-o-Y To Rs 273.10 Cr 

Khaitan Chemicals and Fertilizers posted a 151.13% increase in net sales at Rs 273.10 crore for the quarter ending 31 December 2021, from Rs. 108.75 crore in December 2020. In the fiscal second quarter, it posted Rs217.09 crore in net sales. 

Quarterly Net Profit stood at Rs. 28.97 crore, up 361.84% as against Rs. 6.27 crore Q3FY21. 

EBITDA came in at Rs. 45.40 crore in the December quarter, up 195.38% from Rs. 15.37 crore a year ago.

Khaitan Chemicals and Fertilizers posted earnings of Rs. 2.99 per share in the quarter-ended as against Rs. 0.65 a year ago. 

HUL Net Profit Increases 16.8% YoY To Rs 2,243 Cr; Matches Estimates

Hindustan Unilever, India's largest consumer goods company, saw a 16.8 percent year-on-year rise in net profit to Rs 2,243 crore in the fiscal third quarter, which almost matched the analysts' expectations of Rs 2,242.7 crore.

The company’s revenue from operations jumped 10.4 percent on-year to Rs 13,092 crore in the said quarter, beating the Street's estimate of Rs 12,995 crore.

The company reported a 14.9 percent Y-Y increase in operating profit to Rs 3,279 crore, beating Street's expectations of Rs 3,188 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) in the said quarter came in at Rs 3,279 crore, up by 15%. 

Total expenses during the quarter jumped 8.28% to Rs 10,093, with the cost of materials consumed increasing 13.30% to Rs 3,875 crore.

Underlying domestic consumer business sales expanded by 11%. Underlying volume growth for the quarter stood at 2%, below the analysts' expectations of 2.3%. 

Market:

PTC India Financial Stock Plunges 19% As 3 Independent Directors Resign Over Corporate Governance Issues

Shares of PTC India Financial Services (PFS) nosedived as much as 19 per cent in Thursday’s intraday, a day after the non-banking financial company announced the resignations of three of its independent directors -Kamlesh Vikamsey, Thomas Mathew, and Santosh Nayar over corporate governance issues, with immediate effect. 

The stock crashed to a day low of ₹ 20.75.

"We are in receipt of resignations from three independent directors mentioning some reasons. The matter will be addressed at the board level and subsequent updates will be communicated to all the stakeholders appropriately," the company stated in a notification to exchanges.

PTC India Ltd (PTC) which is registered with the Reserve Bank of India (RBI) as an NBFC is the promoter of PTC. 

"Kamlesh Shivji Vikamsey, Thomas Mathew T and Santosh B Nayar have resigned as Independent Directors with immediate effect," PFS had informed the exchanges on Wednesday.

RBI, Securities and Exchange Board of India (SEBI) and Ministry of Corporate Affairs have also received the resignation letter from the independent directors. 

In the resignation letters, the directors have raised questions on the actions of the Chairman of the Board and Managing Director of the company and described their acts as "ultra-vires" and "in violation" of the provisions of the Companies Act, 2013.

The independent directors also raised concerns over the two-year delay in filing a forensic audit report on the bridge and term loans to Nagapatnam Power and Infratech Pvt Ltd worth Rs 125 and Rs 150 crore each.

Pawan Singh is the Managing Director and Chief Executive Officer of the company, while Rajib Kumar Mishra and Pankaj Goel are the two nominee directors on the board.

NSE Continues To Be The Largest Derivatives Exchange For The Third Time

National Stock Exchange(NSE) continues to be the world's largest derivatives exchange for the 3rd consecutive year in 2021 in terms of the number of contracts traded, according to the Futures Industry Association (FIA).

Furthermore, the World Federation of Exchanges has ranked the bourse fourth globally for cash equities by the number of deals for CY 2021.

At the instrument level, NSE tops index options and currency options by the number of contracts traded.

The index options contracts on the Nifty Bank index ranks no. 1, while the Nifty 50 index ranks 2nd worldwide under the purview of the index options category by the number of contracts traded. 

The US Dollar – Indian Rupee options contract tops by the number of contracts traded in the currency options category.

In 2021 total registered investor base on NSE crossed the 5-crore mark to reach a count of 5.5 crore investors. 

Business:

Flipkart Co-Founder Sachin Bansal Acquires More Stake In SML Isuzu

Former co-founder of Flipkart Sachin Bansal has acquired more stake in SML Isuzu in the quarter ended December, the company’s latest shareholding data showed.

Bansal’s Navodya Enterprises now owns an 11.4% stake in the commercial vehicle maker from 6.84 percent, the data showed. With this, Bansal becomes the owner of 1.65 million shares of the company.

World Business:

• Amazon is soon to open a brick-and-mortar clothing store later this year called "Amazon Style", which will be located in Los Angeles and feature a range of brands.

• The Central bank of Turkey opted to leave the key interest rate unchanged, finally putting an end to a series of cuts that set off a currency crisis and sent consumer prices zooming.  

• Inflation in Turkey has skyrocketed to a 19-year high, leaving as many as 84 million people struggling to buy food and other necessary goods.

• The central bank of Russia has proposed banning the use and mining of cryptocurrencies within the country, quoting threats to financial stability, the wellbeing of citizens and its monetary policy sovereignty as reasons. 

• Italians are angry over the rising cost of espresso coffee. It typically costs €1 ($1.13) in Italy; experts have cautioned that it may jump to €1.50 ($1.70) this year. Globally, the coffee prices are inflating owing to supply chain issues and poor harvests. 

• QuantBioRes CEO Ivan Loncarevic shared with a famous news agency that the Serbian Tennis star, Novak Djokovic, and his wife, Jelena, have a combined 80% share in Danish biotech firm QuantBioRes, which is working on developing a medical treatment to fight COVID-19,