The market continued its uptrend for the sixth consecutive session with the Nifty 50 attempting to cross the 17,400 mark in the previous session. Overall, the benchmark indices remained firm for the second consecutive day ahead of the outcome of the Monetary Policy Committee meeting on August 5. BSE Sensex It rose 214 points to 58,350.5, while Nifty rose 43 points to 17,388.
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Britannia Industries, GAIL India, Adani Enterprises, LIC Housing Finance, Dabur India, Alembic Pharmaceuticals, Adani Total Gas, Aarti Surfactants, Aptech, Balkrishna Industries, Balrampur Chini Mills, BEML, Berger Paints India, Bharat Heavy Electricals, Blue Star, Container Corporation Of India, Dalmia Bharat, Edelweiss Financial Services, Glenmark Life Sciences, Gujarat State Petronet, ICRA, Kalpataru Power Transmission, Kalyan Jewelers India, Krishna Diagnostics, Manappuram Finance, Praj Industries, REC, Shankara Building Products, Spandana Sphoorti Financial, Suryodaya Small Finance Banks, Ujjivan Financial Services, Welspun Corp and Windlass Biotech will be in focus ahead of the June quarter earnings on August 4.
stocks in the news
Vodafone Idea
The telecom operator has reported a loss of Rs 7,296.7 crore for the quarter ended June 2022, as compared to a loss of Rs 6,563.1 crore in the previous quarter following increase in interest and financing costs and EBIT loss. Revenue from operations grew 1.6 per cent QoQ to Rs 10,410.10 crore for the June FY23 quarter. EBITDA for the quarter fell 7 per cent QoQ to Rs 4,328.4 crore and margin declined 380 bps QoQ to 41.6 per cent.
Hindalco Industries
Aluminum solutions provider Novelis said net income attributable to its common shareholder rose 28 percent to $307 million and a 1 percent increase in record adjusted EBITDA of $561 million. Shipments of 962 kilotons declined by 1 per cent in the June fiscal 2013 quarter as compared to 973 kilotons in the previous year. Net sales in the first quarter of FY2023 grew 32 per cent year-on-year to $5.1 billion, primarily driven by higher average aluminum prices and local market premiums.
InterGlobe Aviation
Indigo June posted a net loss of Rs 1,064.3 crore for the FY23 quarter, down from a loss of Rs 3,174.2 crore in Q1FY22 as the year-ago quarter was hit by the second Covid wave. Revenue during the same period grew by 327.5 per cent to Rs 12,855.3 crore. EBITDAR at Rs 716.9 crore improved significantly with EBITDAR margin of 5.6 per cent at Rs 1360.2 crore as compared to negative EBITDAR margin of 45.2 per cent YoY.
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The company recorded highest ever quarterly revenue of Rs 589 crore, highest ever EBITDA of Rs 130 crore and highest ever PAT of Rs 74 crore for the quarter ended June 2022, with 18.4 million people. A year ago quarter (Q1FY22) was affected by the second Covid wave. The quarter saw blockbusters like RRR, KGF: Chapter 2, Vikram, Bhool Bhulaiyaa 2 and Doctor Strange in the Multiverse of Madness.
JMC Projects (India)
The company said that the board has approved the appointment of Vikram Singhvi as the Chief Financial Officer (CFO) of the company with immediate effect. Shailendra Kumar Tripathi has been re-appointed as the Managing Director and CEO of the Company for a period of three years commencing from October 22, 2022 and up to October 21, 2025, subject to the approval of the members of the Company. The company reported a consolidated profit of Rs 31.33 crore for the quarter ended June 2022, as against a loss of Rs 10.15 crore in the same period last year. Revenue grew 44 per cent to Rs 1,671.64 crore during the same period, partly on a lower basis as Q1FY22 was affected by the second Covid wave.
Fineotex Chemical
Ashish Kacholia acquired 5.5 lakh equity shares or 0.5 per cent stake in the company through an open market transaction. With this, his stake in the company increased to 2.43 per cent, from 1.94 per cent earlier.
AU Small Finance Bank
The bank launched its Qualified Institutional Placement issue on August 3 and fixed the floor price for the issue at Rs 590.84 per share as against the current market price of Rs 609.35 on August 3.
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The company reported 10.2 per cent year-on-year growth in consolidated profit for the June FY23 quarter at Rs 193.59 crore on strong growth in the top line. Revenue during the same period grew by 30.2 per cent to Rs 14,731.62 crore, with overall volumes growing 15 per cent to 1.19 MMT, and EBITDA up 14 per cent year-on-year to Rs 496 crore.
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