Stocks in Focus on April 21: Infosys, ICICI Prudential to BPCL; here are expected 5 Newsmakers of the Day

Stocks in Focus on April 21: Infosys, ICICI Prudential, BPCL, Tata Elxsi and Kalptaru Power are the five stocks that are expcted to remain newsmakes throughout the intraday trade session.

Stocks in Focus on April 21: Certain stocks came in news after the market was closed yesterday and can impact the indices when it reopens today. Photo: Reuters

Stocks in Focus on April 21: The Sensex ended with tepid gains while the Nifty ended almost flat on Monday, April 20, 2020, after a volatile trading session. While the Sensex at Bombay Stock Exchange surged 59 points, or 0.19 per cent, to close at 31,648, the Nifty at National Stock Exchange fell five points, or 0.05 per cent, to 9,262. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Tuesday, April 21, 2020. List of such five stocks:

Infosys: IT major Infosys presented its Q4FY20 numbers on Monday and reported a 3.1% quarter-on-quarter (QoQ) fall in its net profit in March quarter at Rs 4,321 crore against Rs 4,457 crore reported in the December quarter. Analysts in Zee Business had projected the number at Rs 4,363 crore. Revenue for the quarter rose 8% to Rs 23,267 crore against Rs 23,092 crore. Operating profit margin came at 21.20% in Q4FY20 against 21.90% in Q3FY20.

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Infosys said considering business uncertainty emanating from COVID-19, it is unable to provide guidance on revenues and margins for FY 21 at this stage. It will provide guidance after visibility improves. The IT major also announced a final dividend of Rs 9.50 per share. Besides, the company had said that it signed a $1.65 billion of large deals in the January-March period. The attrition rate for January-March stood at 20.7% against 19.6% of December quarter. It added, the company has stopped hiring temporarily & has frozen salary hikes but will honour the job offers extended so far. Around 93% of Infosys employees are work from home.

Tata Elxsi: The company has presented its Q4FY20 numbers and reported an 8.9% QoQ rise in profit to Rs 82.1 crore in March quarter against Rs 75.4 crore of December quarter. Its revenue grew by 3.7% to Rs 438.9 crore from Rs 423.4 crore reported in the previous quarter. Its operating profit margin came at 22.3% in Q4FY20 against 19.5% in Q3FY20.

ICICI Prudential: The Company on Monday said the Board meeting scheduled to be held on April 21, 2020, to consider and approve the financial statement and results of the company for Q4FY20, has been rescheduled to April 25, 2020.

BPCL: The Assam government has given a no-objection certificate (NOC) for the sale of 61.65% of BPCL stake in Numaligarh Refinery (NRL). The state has given the NOC to the deal on the condition that another 13.65 per cent stake in NRL will be sold to Assam, increasing its total stake in the project from 12.35 to 26 per cent. The sale of NRL to a state-run entity is seen as a first step towards the divestment process of BPCL.

Kalpataru Power / IGFL Factories/ KEC International/ Amara Raja/ Heidelberg Cement: These are the companies where plants have resumed production work amid COVID-19 pandemic spread.

a) Kalpataru Power: Subsidiary JMC Projects has started its work on the National Highways. All four road SPV have resumed the collection of user fee at all fee plazas on National Highways.

b) KEC International: Company has commenced operations at some of its T&D/Railways/Civil sites after receiving the requisite approvals. Its factories in Brazil and Mexico, identified as an Essential Sector in the respective geographies have been operational throughout.

c) Amara Raja: Andhra Pradesh plant has resumed operation on a limited scale and most of the operations still stand suspended due to restrictions. However, the Company is fully prepared to scale up the operations based on the requirements and needs of the customers as said in the press release.

d) Heidelberg Cement: Resumed partial operations in some of its manufacturing units and is in the process of doing so for other units.

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