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Stocks in Focus on October 6: Auto Stocks, Bajaj Finance, RBL Bank, Godrej Consumer to JSW Steel; here are the 5 Newsmakers of the Day
The Sensex and the Nifty on Tuesday, October 5, 2021, closed with gains. Both indices gained more than 0.7 per cent amid mixed global cues. The BSE Sensex climbed 446 points, or 0.75%, to trade at 59,745. The NSE Nifty also surged 131 points, or 0.74%, to trade at 17,822. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, October 6, 2021. List of such five stocks:
Tata Motors/M&M/Ashok Leyland/MSTC: Road Transport and Highways Ministry issues notification on incentives, disincentives about Vehicle Scrapping Policy. Scrappage policy incentive will be available from April 1, 2022. In the policy, there is a system of incentives, disincentives to nudge vehicle owners to discard old, polluting vehicles.
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Bajaj Finance + RBL Bank + AU Small Finance Bank
Bajaj Finance: The company in its business update for Q2FY22 said that the customer franchise as of September 30, 2021, stood at 52.8 MM as compared to 44.1 MM as of September 30, 2020. The Company acquired 2.4 MM new customers in Q2FY22 as compared to 1.2 MM in Q2FY21. New loans booked during Q2FY22 were 6.3 MM as compared to 3.6 MM in Q2FY21. Assets under management (AUM) stood at approximately Rs 1,66,900 crore as of September 30, 2021, as compared to Rs 1,37,090 crore as of September 30, 2020. AUM in Q2FY22, adjusted for IPO financing receivable grew by approximately Rs 10,600 crore. The deposit book in Q2FY22 grew by approximately Rs 750 crore.
RBL Bank: The private lender in its business update for Q2FY22 said the mix of retail: wholesale advances was approx. 55:45. Total deposits stood at Rs 75,588 crore as of September 30, 2021, up 17% YoY and 1% QoQ. Retail LCR Deposit was Rs 31,398 crore in the quarter, up 42% YoY and 6% QoQ. CASA stood at Rs 26,734 crore in the period, up 33% YoY and 7% QoQ. The CASA ratio stands at 35.3%. Gross advances grew to Rs 58,046 crore, up 1% YoY. The Liquidity Coverage Ratio stands at 155%.
AU Small Finance Bank: The private lender in its business update for Q2FY22 said the total deposit stood at Rs 39,034 crore as of September 30, 2021, up 45% YoY and 5% QoQ. Loam AUM was Rs 38,011 crore, up 24% YoY and 4% QoQ. Gross Advances stood at Rs 36,405, up 32% YoY and 5% QoQ. CASA ratio stands at 30% It added that the collection efficiency has been lower than in June. Collection Efficiency trend FY22:
Godrej Consumer Products + Marico
Godrej Consumer Products: The company has provided a summary of the operating performance and demand trends during the quarter ended September 30, 2021. In India, the company expects close to double-digit sales growth driven largely by volume growth and calibrated price increases. It has witnessed broad-based sales growth in its Home Care and Personal Care Categories. In Indonesia, it expects a marginal decline in constant currency sales. In Godrej Africa, USA and the Middle East, growth momentum continued across most of our key countries of operations. Godrej Consumer expects sales growth in Latin America and SAARC businesses to be soft.
Marico: The company in its Q2FY21 performance update said that during the quarter, the sector witnessed improving demand trends as mobility levels increased with reducing COVID infections and accelerated vaccination drives. In the India business, the revenue growth in the quarter was in the low twenties, with volume growth close to double-digits on a 2-year CAGR basis. Parachute coconut oil delivered in line with medium-term aspirations. Value-added hair oils posted double-digit volume growth. Within the Saffola franchise, Saffola Edible Oils had a muted quarter, largely due to volatility in edible oil prices leading to trade destocking and partly owing to lower in-home consumption. Foods, on the other hand, continued to grow smartly, while premium personal care portfolios grew handsomely, albeit on a low base.
JSW steel/Hindalco/JSPL: The Ministry of Coal has amended Mineral Concession Rules, 1960 to allow the sale of coal or lignite, on payment of an additional amount, by the lessee of a captive mine up to 50% of the total coal or lignite produced in a financial year, after meeting the requirement of the end-use plant linked with the mine. With this amendment, the Government has paved the way for releasing additional coal in the market by greater utilization of mining capacities of captive coal and lignite blocks, which were being only partly utilized owing to limited production of coal for meeting their captive needs. Availability of additional coal will ease pressure on power plants and will also aid in import substitution of coal. The move is likely to benefit over 100 captive coal and lignite blocks with over 500 million ton per annum Peak Rated Capacity as well as all coal and lignite bearing States. This permission is the government approval to Zee Business report in which it earlier said that the government has a plan to the sale of 50% of coal from the captive mines.
Cadila Healthcare: Drug firm Cadila Healthcare on Tuesday said it has received permission from the Drug Controller General of India (DCGI) for conducting phase III trials for its two-dose COVID-19 vaccine ZyCoV-D, reported by PTI.
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