Marico's December Quarter Update, IPO Rush in 2022, and Buzzing Stocks Today

Wed, 5 Jan Pre-Open

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Indian share markets ended on a strong note yesterday.

Investors looked past the surging coronavirus cases which took benchmark indices higher for a third consecutive day.

At the closing bell yesterday, the BSE Sensex stood higher by 673 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 180 points (up 1%).

NTPC and ONGC were among the top gainers.

Coal India and Tata Motors, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.1% and 0.4%, respectively.

Sectoral indices ended on a positive note with stocks in the power sector, energy sector and banking sector witnessing most of the buying interest.

Healthcare and metal stocks, on the other hand, witnessed selling pressure.

Shares of L&T Technology and Pidilite Industries hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading up by 0.2% at Rs 47,830 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, in her latest video, lead Smallcap Analyst at Equitymaster Richa Agarwal talks about the concept of dividend investing.

In the video, Richa also shares a list of stocks with healthy dividends for your watchlist.

Top Stocks in Focus Today

Among the buzzing stocks today will be Hinduja Global Solutions.

Shares of Hinduja Global Solutions (HGS) surged 19% to hit a new high of Rs 3,948 on the BSE in Tuesday's intra-day trade after the company announced that its board will meet on Thursday 6 January 2022 to consider a proposal for bonus issue of equity shares.

The board of Hinduja Global Solutions will meet on 6 January 2022 to consider interim dividend, if any, for the financial year 2021-22. It will also consider a proposal for declaration of bonus issue of equity shares.

On a consolidated basis, net profit of Hinduja Global Solutions rose 67.5% to Rs 1.4 bn on 18.8% rise in net sales to Rs 15.8 bn in September 2022 quarter over the same period last year.

Hinduja Global Solutions is a global leader in optimizing the customer experience lifecycle, digital transformation, and business process management.

Marico share price will also be in focus today.

Shares of Marico dipped 3% to Rs 498 on the BSE yesterday after the personal products maker said that its revenue growth was in double digits in the October-December quarter, but its volume growth is expected to be flat.

The December quarter was characterised by slowing consumption patterns, which affected the sector as a whole. This was mainly due to continuing inflation impacting overall disposable incomes as well as rising mobility unleashing some degree of pent-up demand for discretionary goods, services and out-of home consumption.

The company saw consolidated revenue growth in low teens with some sluggishness in rural demand impacted by elevated inflation and high base. Parachute & VAHO grew at a normalised pace on two-year CAGR basis.

Saffola edible oil saw volume dip due to high base and prevalent high edible oil prices during the quarter. Foods business saw 20% plus growth. Gross margins continue to remain under pressure on YoY basis, however they have improved sequentially, while operating margins would remain flattish on a quarterly basis.

The company said that among key inputs, copra prices were range bound for most of the quarter before witnessing correction towards the end of the quarter. Edible oil prices have also started softening, while crude oil prices remained firm.

The firm expects gross margin to improve sequentially, but remain lower on a YoY basis. Operating margin is expected to be near the levels of the preceding quarter.

Alembic Pharma Gets USFDA Nod for Antibiotic Drug

Alembic Pharma share price rose nearly 4% after the company received final approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Doxycycline Hyclate Delayed-Release Tablets.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Doryx Tablets of Mayne Pharma International.

Doxycycline Hyclate Delayed-Release Tablets are indicated' to reduce the development of drug-resistant bacteria.

Doxycycline Hyclate Delayed-Release Tablets have an estimated market size of US$10 m for twelve months ending September 2021.

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. It manufactures and markets generic pharmaceutical products all over the world.

So far, the company has received 16 approvals, 12 final and four tentative and a total of 155 ANDA approvals, 135 final and 20 tentative from USFDA.

IPO Craze to Continue in Quarter Four

As many as 75 companies are in the IPO pipeline, with 37 having valid observations from the regulator and the remaining 38 awaiting go-ahead after filing their prospectus.

In the March 2022 quarter itself, 23 companies are looking to collectively raise nearly Rs 440 bn through initial share sales, of which a significant chunk will be garnered by technology-driven companies.

After the success of big tech companies Zomato, Nykaa and PolicyBazaar, homegrown start-ups will continue to launch their mega issue for the investors in 2022. Oyo, Delhivery and PharmaEasy will be among the most awaited ones.

In 2021, 63 companies raised about Rs 1.20 lakh crore through their initial stake sales. Apart from this, a couple of REITs and InvITs raised more than Rs 115 bn during the year.

As things stand now, 2022's figure will probably be higher than the previous year.

We will keep you updated on the latest developments from this space. Stay tuned.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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