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Stocks to track in trade for April 20, 2022: Tata Steel Long Products, ACC, Escorts, Punjab & Sind Bank, Nestle India
Tata Steel Long Products, ACC, L&T infotech will react to its quarterly numbers; crude related stocks in focus as oil fell to $108/bbl on demand concerns
Tata Steel
Tata Steel Long Q4FY22- Weak set of numbers
Revenue up 7% to Rs 1799 cr vs Rs 1677 cr
EBITDA down 35% to Rs 164 cr vs Rs 251 cr – lowest since Q1FY21
EBITDA Margin at 9.1% vs 15%
Net profit down 43% to Rs 60 cr vs Rs 104 cr
Blended realisation flat at Rs 58233/tonne vs Rs 58035
Plant shutdown, higher cost of production and additional royalty impacted number
ACC- Standalone No's
Sales at Rs 4427 cr vs 4292 Cr; up 3% YoY
Profit after tax has come in at Rs 392 Cr vs Rs 557 Cr YoY; down 29.6%
Due to rising demand the sales increased as expected
Impact of input cost on results seen
Profit declined due to significant fuel cost increase despite project ‘Parvat’ delivering strong internal efficiencies
Cement sales volume declined 3% YoY at 7.71MT
Raw Material cost increased by 14%, Power & Fuel Cost increased 32%
L&T Infotech Q4 QoQ
Overall Results-Slightly Below Estimates, Attrition Levels Beats Estimates
$ revenue up 3.1% at $ 570.4 mn vs $553 mn QoQ
CC Growth at 3.6% (Est 4-5%)
Re revenue up 4% at Rs 4302 cr vs Rs 4138 cr (Est Rs 4350cr)
EBIT up 0.3% at Rs 745 cr vs 743 cr (Est Rs 757cr)
EBIT at 17.3 % vs 17.9% (Est 17.4%)
PAT up 4.1% at Rs 638 cr vs 613 cr (Est Rs 650cr)
Attrition at 24% vs 22.5% (Est 27-30%)
Declared dividend of Rs 30/share
Crude related stocks in focus
Oil fell to $108/bbl on demand concerns
After the IMF reduced its economic growth forecasts and warned of higher inflation
The fall in crude was despite lower production from Russia
Escorts
Escorts Agri Machinery to increase the prices of its tractors effective 20th April 2022
Punjab & Sind Bank
Reports two NPA accounts worth Rs 520cr relating to SREI Infrastructure Finance and Rs 724cr relating to SREI Equipment Finance as fraud
GAIL
Last day to buy shares to be eligible for Buyback
Nestle India
Last Day to Buy Shares to be eligible for Final Dividend worth ‘65/share & Interim Dividend worth ‘25/share
Q4 Results
ICICI Securities, Angel Broking, Tata Elxsi, Glenmark Lifescience
Shape Your Aspirations to Action at the India Economic Conclave on 21, 22 April. Visit www.indiaeconomicconclave.com
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