HDFC Life Q4 Results, SBI Cards March Quarter Performance, and Buzzing Stocks Today

Wed, 28 Apr Pre-Open

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Indian share markets ended on a strong note yesterday.

Benchmark indices rallied for the second consecutive day yesterday, bucking the weak trend in Asian share markets, helped by gains in metal, capital goods and energy stocks.

At the closing bell yesterday, the BSE Sensex stood higher by 558 points (up 1.2%).

Meanwhile, the NSE Nifty closed higher by 168 points (up 1.5%).

Hindalco and Tata Steel were among the top gainers.

HDFC Life Insurance and SBI Life Insurance, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1% and 1.6%, respectively.

On the sectoral front, gains were largely seen in the metal sector, capital goods sector, and energy sector.

Shares of Navin Fluorine and Deepak Nitrite hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading on a flat note today at Rs 47,460 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia talks about the Nifty and Bitcoin.

Nifty and bitcoin have been very volatile in recent weeks. In the video, Brijesh explains why he is expecting the bearish momentum to end soon.

As per Brijesh, Nifty is likely to find the lost ground in the range of 13,964-14,071 as we are witnessing multiple support zones as per technical and derivatives structure.

Meanwhile, Bitcoin falling off the cliff on political drama is likely to take a pause in the zone of US$ 45,000 - US$ 46,000 as the support is placed with Fibonacci time cycle.

Tune in to the below video to find out more:

Top Stocks in Focus Today

Shree Cement will be among the top buzzing stocks today.

Shree Cement, one of India's top cement manufacturers, is running its oxygen plants at 100% capacity to cater to the shortage of oxygen in the country.

The company has already supplied over 12,500 oxygen cylinders and is continuing to supply to the hospitals across India from its production units in Rajasthan, Karnataka, Bihar, Odisha and Chhattisgarh. The plants are also providing free oxygen refills at all its units.

While India's massive vaccination programme against Covid-19 to restore normalcy is currently on, the country has been hit by a second wave of more transmissible mutant variant causing a sudden spike in the numbers of those affected. This has led to a shortage of oxygen in the hospitals.

Wipro share price will also be in focus today as the company has announced the implementation of a digital experience platform for Bristol Water to modernize critical infrastructure.

The company will develop a new cloud-based solution with capabilities such as instant release, high security, low maintenance, and ability to integrate with Bristol Water's existing systems through bespoke Application Programming Interface (API) solutions.

This advanced platform will allow Bristol Water to stay ahead of regulatory requirements and enhance their customer and developer experience.

HDFC Life Q4 Results: 2% YoY Growth in Net Profits

HDFC Life has reported a 2% year-on-year (YoY) jump in net profit (on a standalone level) to Rs 3.2 billion in Q4FY21, from Rs 3.1 billion posted in the same period last year.

Furthermore, the insurer saw a 23% YoY rise in net premium in Q4FY21 to Rs 128.7 billion from Rs 104.6 billion a year ago. Its investment income of Rs 60.5 billion in the fourth quarter was down almost 50% sequentially.

In FY21, the total annualised premium equivalent (APE) of the insurer rose 13% YoY to Rs 83.7 billion and the individual APE increased 16% YoY to Rs 71.2 billion. This was led by improved trends in non-par product (79% YoY), steady growth in annuities, Par and improvement in ULIPs, all supported by low base of last year. Besides, the total premium collected by the insurer, which includes new business premium and renewal premium, increased 18% YoY to Rs 385 billion.

While the value of new business (VNB) went up by 14% to Rs 21.9 billion, the new business margin (NBM), a measure of profitability of life insurance companies, reported by the company stood at 26.1% compared to 25.9% in FY20.

That apart, the solvency ratio of the insurer has improved YoY to 201%, against the regulatory requirement of 150%.

"Further, based on the current assessment of the business operations over next one year, we expect the solvency ratio to continue to remain above the minimum limit prescribed by the Insurance regulator", the company said in a statement.

It also had a persistency ratio of 91.4% in Q4FY21 compared to 92.9% in Q3FY21 and 88.4% in Q4FY20.

We will keep you posted on updates from this space. Stay tuned.

SBI Cards Sees Stellar Performance in March Quarter

SBI Cards and Payment Services reported profit after tax (PAT) at Rs 1.8 billion in the January to March quarter, up 110% from Rs 840 million in the corresponding period of previous fiscal.

The return on average assets came at 2.6% in Q4 FY21 versus 1.3%, while the return on average equity was at 11.2% versus 6.5% in Q4 FY20.

The capital adequacy ratio was 24.8%, compared to 22.4% in Q4 FY20. As per capital adequacy norms, the company's capital to risk ratio consisting of tier one and tier two capital should not be less than 15% of its aggregate risk weighted assets on balance sheet and of risk adjusted value of off-balance sheet items.

SBI Cards total income however dropped to Rs 24.7 billion from Rs 25.1 billion. Asset quality too deteriorated with gross non-performing assets at 5% of gross advances as against 2% in Q4 FY20.

For the financial year ended March 31, total income was at Rs 97.1 billion for FY21 versus Rs 97.5 billion for FY20.

The profit after tax (PAT) stood at Rs 9.9 billion for FY21 versus Rs 12.5 billion in the previous fiscal.

The total balance sheet size of the company as on 31 March 2021 was Rs 270.1 billion as against Rs 253.1 billion as on same date of last year.

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