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Macrotech Developers IPO, HDFC Bank Q4 Update, and Buzzing Stocks Today

Wed, 7 Apr Pre-Open

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Indian share markets witnessed volatile trading activity throughout the day yesterday and ended with mixed sentiments.

At the closing bell yesterday, the BSE Sensex stood up by 42 points (up 0.1%).

Meanwhile, the NSE Nifty ended up by 45 points (up 0.3%).

Adani Ports and Tata Consumer Products were among the top gainers.

Grasim and Power Grid Corp were among the top losers.

Maruti Suzuki and SBI cards were among the top buzzing stocks.

The BSE Mid cap index and the BSE Small cap index ended up by 1% and 0.8%, respectively.

On the sectoral front, healthcare stocks and FMCG stocks witnessed most of the buying interest.

Gold prices for the latest contract on MCX were trading up 0.4% at Rs 45,547 per 10 grams at the time of closing stock market hours yesterday.

Speaking of the current stock market scenario, after the recent volatility in the market, the fears of a correction have only grown and those who were bullish a few days ago are turning bearish.

But is this the right way to think about trading? How should you react to this?

India's # trader Vijay Bhambwani answers these questions in his latest video for Fast Profits Daily.

In the video, Vijay tells you about the two big reasons why the stock market fell and how you should react to such volatility.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Panacea Biotec.

Shares of Panacea Biotec surged over 16% intraday yesterday after the company said it would produce 100 million doses a year of the Russia-made coronavirus vaccine (Sputnik V) in partnership with the Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund.

Production of Sputnik V at Panacea Biotec sites will help facilitate global supply of Sputnik V to international partners of RDIF, it added.

The vaccine is currently awaiting a recommendation for emergency authorization from a Subject Expert Committee (SEC) of the Central Drugs Standard Control Organization (CSDO) following which it will go for a nod from the Drugs Controller General of India (DCGI).

HDFC Bank share price will also be in focus today.

In a Q4 update, private lender HDFC Bank announced that the bank's advances aggregated to approximately Rs 11,320 billion as of March 31, 2021, a growth of around 13.9% over Rs 9,937 billion as of March 31, 2020 and a growth of around 4.6% over Rs 10,823 billion as of December 31, 2020.

As per regulatory (Basel 2) segment classification, domestic retail loans as of March 31, 2021 grew by around 7.5% over March 31, 2020 and around 5.0% over December 31, 2020.

Domestic wholesale loans as of March 31, 2021 grew by around 21% over March 31, 2020 and around 4.5% over December 31, 2020, the bank said.

The private lender's deposits grew around 16.3% at approximately Rs 13,350 billion as of March 31, 2021 as compared to Rs 11,475 billion year-on-year (YoY) and a growth of around 5% quarter-on-quarter (QoQ).

Macrotech Developers IPO to be Launched Today

In news from the realty sector, Mumbai-based Macrotech Developers has sold properties worth Rs 500 billion in the last seven years (FY14 to FY20), making it the largest developer in terms of annual sales bookings, its Managing Director Abhishek Lodha told reporters in a virtual press conference.

The company will launch its initial public offering (IPO) today to raise Rs 25 billion through a fresh issue of shares. The issue will close on April 9.

The price band is set at Rs 483-486 per share.

From IPO proceeds, the company mainly proposes to reduce debt by up to Rs 15 billion and acquire land or land developmental rights aggregating up to Rs 3.8 billion.

Abhishek expressed confidence that its IPO will be successful given the response that the company has been receiving from domestic and global investors in pre-IPO roadshows.

He said the company's net debt for India business is Rs 167 billion as of December 31, 2020. "Our debt will come down to Rs 127 billion after the IPO" he added.

Note that this is the third attempt by Lodha Developers to launch a public issue and list its shares on the stock exchanges. In 2009 and 2018, the company had filed IPO documents and also got market regulator's approval but did not hit the capital market as market conditions were not conducive.

Macrotech Developers revenue from operations stood at Rs 95.8 billion in the 2019-20 fiscal. In the first nine months of the last fiscal, revenue stood at Rs 29.2 billion.

The company posted a profit of Rs 12.1 billion in 2019-20 but has suffered a loss of Rs 2.6 billion in the April-December period of last fiscal due to the pandemic.

How the IPO of Macrotech Developers sails through remains to be seen.

Sobha's Stock Gains on Record Sales Volume in Q4FY21

Shares of Sobha posted their biggest single-day gain in three months after the real estate developer reported its best-ever sales volume in the quarter ended March.

The Bengaluru-based company reported a total sales volume of 1.3 million square feet of super built-up area worth Rs 10.7 billion in the January-March period, according to its quarterly business updates released on the bourses.

Sales volumes achieved in Bengaluru, Gurugram, Pune and Kochi were the highest ever. Sobha also claimed its fourth-quarter performance on all operational parameters to be the best-ever in its history.

"The real estate sector revival looks to be a long-term structural story though some headwinds remain," the company said in the exchange filing. "However, uncertainties of the second Covid wave and its impact are yet to be assessed."

The real estate firm also saw price realisations of Rs 8,014 per square feet, the highest in eight quarters. "This reflects the efforts made by the company in having launches at the right place, digital market, optimum utilisation of in-house capabilities and operational efficiency," it said.

We will keep you posted on updates from this space. Stay tuned.And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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