Biontech Stock – Indices off day’s high; metal stocks lose shine
Key equity barometers bounced back after briefly slipping into the negative terrain in morning trade. The Nifty hovered above 15,200 mark. The moderation in daily new Covid cases in India improved risk sentiments. Barring metal and FMCG, all the sectoral indices on the NSE were in the green.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 168.67 points or 0.33% at 50,709.76. The Nifty 50 index was up 30.3 points or 0.2% at 15,205.50.
In broader market, the S&P BSE Mid-Cap index was up 0.52% while the S&P BSE Small-Cap index was up 0.61%.
The market breadth was positive. On the BSE, 1735 shares rose and 1026 shares fell. A total of 156 shares were unchanged.
Total COVID-19 confirmed cases worldwide stood at 166,947,534 with 3,459,051 global deaths.
India reported 27,20,716 active cases of COVID-19 infection and 3,03,720 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. In last 24 hours, India recorded 2,22,315 new cases and registered 4,454 deaths.
Lockdown was extended on Sunday in Delhi, Haryana, Rajasthan and Puducherry, with many states already imposing Covid-induced restrictions till May-end to rein in the spread of infection. Delhi chief minister Arvind Kejriwal announced that the ongoing lockdown in the national capital will continue for another week and said the process of “unlock” will start from May 31 in a phased manner if the number of COVID-19 cases continues to decline.
Meanwhile, BioNTech‘s chief executive reportedly said that the COVID-19 vaccine it developed with U. S. pharmaceutical group Pfizer is likely to be effective against the Indian variant of coronavirus.
Tata Steel (down 1.51%) will replace ONGC (down 1.33%) in the 30-share benchmark S&P BSE Sensex effective Monday, 21 June 2021.
Meanwhile, AU Small Finance Bank (up 0.13%), Adani Enterprises (up 0.19%) and Cholamandalam Investment & Finance Company (up 0.59%) will replace Bosch (up 0.59%), LIC Housing Finance (down 0.05%) and TVS Motor Company (up 0.45%) in the S&P BSE SENSEX Next 50 index and the S&P BSE 100 index.
Further, AU Small Finance Bank (up 0.13%) will replace RBL Bank (up 0.70%) in the S&P BSE Bankex.
The Nifty Metal index lost 1.47% to 5,024.25. The index rose 0.43% in the previous session.
Hindustan Zinc (down 4.16%), Steel Authority of India (down 2.62%), Jindal Steel & Power (down 1.81%), Hindalco Industries (down 1.74%), Vedanta (down 1.65%), NALCO (down 1.27%) and NMDC (down 1.05%) were top losers in metal space.
JSW Steel fell 2.9%. On a consolidated basis, the steel maker reported a net profit of Rs 4,191 crore in Q4 FY21, steeply igher than net profit of Rs 188 crore in Q4 FY20. Revenue from operations increased 50.6% year-on-year (YoY) to Rs 26,934 crore during the quarter. Operating EBITDA surged to Rs 8,440 crore in Q4 FY21 from Rs 2,975 crore in Q4 FY20. Profit before tax in Q4 FY21 stood at Rs 6,272 crore, steeply higher than Rs 119 crore in Q4 FY20.
The company’s consolidated net gearing (net debt to equity) stood at 1.14x as on 31 March 2021 as against 1.48x as on 31 March 2020. Net debt to EBITDA stood at 2.61x as on 31 March 2021 as against 4.50x as on 31 March 2020. The company’s debt has come down by Rs 858 crore even after spending on capex expenditure/ acquisitions aggregating to around Rs 15,000 crore during FY2021.
Grasim (down 0.74%), Balaji Amines (up 4%), Dalmia Bharat Sugar (down 1.72%), India Cements (down 1.09%), Mahanagar Gas (up 0.73%), Poly Medicure (up 0.38%), Ramco Cements (down 0.93%) and Lakshmi Machine (up 0.92%) will also announce their Jan-March quarter earnings today.
Barbeque-Nation (up 1.47%) will announce its first ever quarterly result after listing on bourses on 7 April 2021.
Shree Cement fell 2.79%. The cement maker reported 49% jump in consolidated net profit to Rs 798.43 crore on 23.1% rise in net sales to Rs 4204.88 crore in Q4 FY21 over Q4 FY20. Interest outgo declined 21.1% to Rs 58.28 crore while depreciation costs were lower by 28.9% to Rs 330.21 crore in the fourth quarter compared with the same period last year. Profit before tax in Q4 FY21 stood at Rs 979.78 crore, up 59% from Rs 616.36 crore in Q4 FY20.
United Spirits jumped 4.09%. The liquor maker reported a standalone net profit of Rs 167.30 crore in Q4 FY21, steeply higher than net profit of Rs 23.90 crore in Q4 FY20. Net sales during the quarter increased 11.6% YoY to Rs 2,224.40 crore, driven by continued off-trade momentum and weaker comparatives, offset by contraction of owned business in Andhra Pradesh (AP) and softer footfalls in on-trade channel. Total sales volume rose 8.1% to 19.7 EUm (Equivalent Units in millions) in Q4 FY21 from 18.3 EUm reported in Q4 FY20. On the segmental front, prestige & above segment witnessed 19.4% jump in volumes to 10 EUm while the popular segment’s volumes contracted 1.5% to 9.7 EUm in Q4 FY21 over Q4 FY20.
Crompton Greaves Consumer Electricals gained 2.49%. On a consolidated basis, the company’s net profit surged 144% to Rs 249.08 crore on a 48.3% jump in net sales to Rs 1522.05 crore in Q4 March 2021 over Q4 March 2020. Current year PAT also includes impact of IT Assessment order (including interest thereon) for previous years. The company said Like for like PAT growth is at 63.5%. Profit before tax (PBT) grew 68.9% to Rs 230.98 crore in Q4 FY21 as against Rs 136.72 crore in Q4 FY20. EBITDA soared 61.5% to Rs 228 crore in Q4 March 2021 as against Rs 141 crore in Q4 March 2020. EBITDA margin improved to 15% in Q4 FY21 compared with 13.8% in Q4 FY20.
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