Stocks in the news:
1. Tata Steel: Tata Steel reported healthy performance for Q2FY21. For Q2FY21, sales volume for the Indian operations stood at 5.05 MT (up 72% QoQ and 22% YoY), while sales volume from the European operations stood at 2.27 MT (down 1% YoY, up 15% QoQ). Consolidated topline came in at | 37154 crore (up 7% YoY, 53% QoQ), higher than our estimate of | 34768 crore. Consolidated EBITDA came in at |6111 crore, while adjusted EBITDA came in at |5425 crore, (our estimate of |4495 crore). Standalone operations reported EBITDA per tonne of |12861/tonne (our estimate of |12000/tonne), while European operations reported negative EBITDA/tonne of US$27/tonne (our estimate of negative EBITDA/tonne of US$35/tonne). Ensuing PAT from continuing operations stood at |1635 crore.
2.Graphite India (GIL): Graphite India (GIL) reported operationally subdued set of numbers for Q2FY21, wherein it reported a consolidated loss at the EBITDA, PAT level. For Q2FY21, GIL reported a consolidated topline of | 485 crore (down 45% YoY, up 19% QoQ), higher than to our estimate of | 418 crore. Better than expected topline was on account of higher-than-expected capacity utilisation. Consolidated capacity utilisation in Q2FY21 was at 60% (61% in Q2FY20, 36% in Q1FY21), higher than our estimate of 45%. Consolidated EBITDA loss came in at | 78 crore (our estimate of consolidated EBITDA loss of | 84 crore). Subsequently, net consolidated loss for the quarter was at | 41 crore (our estimate of net loss was | 52 crore)
3.Sunteck Realty: Sunteck Realty reported a strong sales volume but weak collections. The pre- sales value was up 96% at | 200 crore driven by affordable housing. The collection at | 141 crore were down 24% YoY. On financial front, Revenue for stood at | 143 crores, up 8%. EBITDA at | 31 crore was down 32% YoY. PAT at | 14 crore was down 50%.
4.HDFC AMC: HDFC Mutual Fund’s board has approved the appointment of Navneet Munot as its next managing director and chief executive officer. Munot, who was the chief investment officer of SBI Funds Management, will succeed the present managing director Milind Barve.
5.Ratnamani Metals & Tubes Limited: Ratnamani Metals & Tubes Limited has received a Domestic Order of |140.00 Crores in Carbon Steel Division for the supply of CS Pipes for Oil & Gas Sector. The order is to be executed between January, 2021 to May, 2021.
6.Vodafone Idea: As per media reports, Vodafone Idea (Vi) is considering increasing tariffs 15-20% by the end of the year or early next year. This is on the expected lines as the company is struggling with cash burn and aiming fund raise.
1. Tata Steel: Tata Steel reported healthy performance for Q2FY21. For Q2FY21, sales volume for the Indian operations stood at 5.05 MT (up 72% QoQ and 22% YoY), while sales volume from the European operations stood at 2.27 MT (down 1% YoY, up 15% QoQ). Consolidated topline came in at | 37154 crore (up 7% YoY, 53% QoQ), higher than our estimate of | 34768 crore. Consolidated EBITDA came in at |6111 crore, while adjusted EBITDA came in at |5425 crore, (our estimate of |4495 crore). Standalone operations reported EBITDA per tonne of |12861/tonne (our estimate of |12000/tonne), while European operations reported negative EBITDA/tonne of US$27/tonne (our estimate of negative EBITDA/tonne of US$35/tonne). Ensuing PAT from continuing operations stood at |1635 crore.
2.Graphite India (GIL): Graphite India (GIL) reported operationally subdued set of numbers for Q2FY21, wherein it reported a consolidated loss at the EBITDA, PAT level. For Q2FY21, GIL reported a consolidated topline of | 485 crore (down 45% YoY, up 19% QoQ), higher than to our estimate of | 418 crore. Better than expected topline was on account of higher-than-expected capacity utilisation. Consolidated capacity utilisation in Q2FY21 was at 60% (61% in Q2FY20, 36% in Q1FY21), higher than our estimate of 45%. Consolidated EBITDA loss came in at | 78 crore (our estimate of consolidated EBITDA loss of | 84 crore). Subsequently, net consolidated loss for the quarter was at | 41 crore (our estimate of net loss was | 52 crore)
3.Sunteck Realty: Sunteck Realty reported a strong sales volume but weak collections. The pre- sales value was up 96% at | 200 crore driven by affordable housing. The collection at | 141 crore were down 24% YoY. On financial front, Revenue for stood at | 143 crores, up 8%. EBITDA at | 31 crore was down 32% YoY. PAT at | 14 crore was down 50%.
4.HDFC AMC: HDFC Mutual Fund’s board has approved the appointment of Navneet Munot as its next managing director and chief executive officer. Munot, who was the chief investment officer of SBI Funds Management, will succeed the present managing director Milind Barve.
5.Ratnamani Metals & Tubes Limited: Ratnamani Metals & Tubes Limited has received a Domestic Order of |140.00 Crores in Carbon Steel Division for the supply of CS Pipes for Oil & Gas Sector. The order is to be executed between January, 2021 to May, 2021.
6.Vodafone Idea: As per media reports, Vodafone Idea (Vi) is considering increasing tariffs 15-20% by the end of the year or early next year. This is on the expected lines as the company is struggling with cash burn and aiming fund raise.