Indian equity markets ended the previous session lower, breaking its six-day winning streak a day before the Reserve Bank of India India (RBI) announced monetary policy. At close, the Sensex was down 51.73 points or 0.09% at 58,298.80, and nifty It was down 6.20 points, or 0.04%, at 17,382.
“Taking positive momentum from strong US economic data, domestic markets opened with gains, while concerns over US-China conflict put investors on the defensive, creating huge volatility,” said Vinod Nair, Head of Research, Geojit Financial Services.
“Weak PMI and trade deficit data saw negative pressure on the Indian rupee and equity market. However, continued foreign interest in Indian equities led to buying on the downside, resulting in a late recovery,” he said.
Result on 5th August
Mahindra & Mahindra, Titan Company, Engineers India, NMDC, FSN E-Commerce Ventures (Nayaka), IRB Infrastructure Developers, One97 Communications, Petronet LNG, Aditya Birla Fashion & Retail, Alkem Laboratories, Pfizer, Raymond, Computer Age Management Services, Eris Lifesciences, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, R Systems International, Shipping Corporation of India, Talbros Engineering, UCO Bank and Zensar Technologies will be in focus in August ahead of their June quarter earnings. 5.
stocks in the news
Gujarat State Petronet: The company reported 11% year-on-year growth in consolidated profit at Rs 648.16 crore for the quarter ended June 2022, which was impacted by higher input cost. Revenue for the FY23 quarter grew 63% YoY to Rs 5,670 crore.
BEML: The company has an order book of Rs 9,100 crore as of June 2022, which includes order bookings of Rs 571 crore during the quarter ended June 2022. The company reported a consolidated loss of Rs 82.36 crore for the quarter ended June 2022 as against a loss of Rs 94. crore in the same period last year, but revenue grew 43% YoY to Rs 669.2 crore in Q1FY23.
Adani Ports: The AD Ports Group has signed a Memorandum of Understanding (MoU) with Adani Ports and SEZs for strategic joint investments in end-to-end logistics infrastructure and solutions, including rail, maritime services, port operations, digital services, and the establishment of maritime academies in the industrial sector and Tanzania.
Adani Enterprises: Subsidiary Adani Road Transport (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company (GRICL) and Swarna Tollway (STPL) for Rs 3,110 crore. ARTL will acquire 56.8% stake in GRICL and 100% in STPL from Macquarie Asia Infrastructure Fund, subject to regulatory approvals. The transaction is expected to close in September 2022.
REC: The company reported 8.2% year-on-year growth in consolidated profit at Rs 2,454.2 crore for the quarter ended June 2022, partly due to decline in impairment on financial instruments. Revenue declined 0.55 per cent to Rs 9,497.5 crore for the June FY23 quarter.
Alembic Pharmaceuticals: The pharma company posted a consolidated loss of Rs 65.88 crore for the quarter ended June 2022, impacted by a lower top line as against profit of Rs 164.52 crore in the same period last year. Revenue fell nearly 5% to Rs 1,262.14 crore as compared to the year-ago period.
Balkrishna Industries: The company reported a 7.1% year-on-year decline in consolidated profit at Rs 307 crore for the quarter ended June 2022, impacted by higher input cost and freight and forwarding expenses. Revenue for the June FY23 quarter grew 45.3% YoY to Rs 2,619.43 crore.
Manappuram Finance: The company reported a 35.6% year-on-year decline in profit at Rs 282 crore for the quarter ended June 2022, as losses on financial instruments increased. Revenue from operations fell 4% to Rs 1,502 crore during the same period.
LIC Housing Finance: The housing finance company reported a 503% year-on-year growth in profit at Rs 925.5 crore for the quarter ended June 2022, as losses on financial instruments declined sharply. Revenue from operations grew 9% YoY to Rs 5,285.5 crore for the June FY23 quarter.
The views and investment suggestions of experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decision.
read the breaking news And today’s fresh news Here