Among sectors, except FMCG all other indices ended lower. BSE midcap and smallcap indices fell over a percent each
The benchmark indices ended lower for the third consecutive session on July 20, pulled down by metal, realty and financial names. At close, the Sensex was down 354.89 points, or 0.68%, at 52,198.51 and the Nifty was down 120.30 points, or 0.76 percent, at 15,632.10. About 1,109 shares advanced, 2,056 declined and 107 remained unchanged.
Asian Paints | CMP: Rs 3,145.05 | The stock jumped over 5 percent after the company’s June quarter net profit more than doubled to Rs 574.3 crore against Rs 219.6 crore in the year-ago period. The profit figures saw a steep jump owing to the low base of last year. Revenue jumped 91.1 percent YoY to Rs 5,585.4 crore for the said quarter against Rs 2,922.7 crore in Q1FY21.
Tata Motors | CMP: Rs 301.85 | The share price shed over 2 percent on July 20. Ace investor Rakesh Jhunjhunwala reduced his stake in the company to 1.14 percent (3,77,50,000 shares), the BSE shareholding pattern of June 2021 shows. In the March quarter, his holding in the company stood at 1.29 percent (4,27,50,000 shares). This is the second Tata group company that Jhunjhunwala has reduced stake in after Titan Company.
HDFC Life Insurance | CMP: Rs 663.10 | The scrip was down over 2 percent after the private life insurer saw a 40.1 percent year-on-year (YoY) fall in its consolidated net profit at Rs 269.55 crore. This was on the back of a rise in reserves. New business margins (NBM) during the quarter saw an improvement on a sequential as well as YoY basis on the back of growth and balanced product mix.
HCL Tech | CMP: Rs 977 | The stock fell over 2 percent on July 20. The IT player posted a 9.9 percent year-on-year (YoY) rise in its June quarter consolidated net profit at Rs 3,214 crore. Revenue for the quarter came in at Rs 20,068 crore, up 12.5 percent YoY. Sequentially, profit rose 8.5 percent while revenue increased 2.2 percent. UBS has a sell rating with the target at Rs 855 per share.
ACC | CMP: Rs 2,301 | The share price jumped over 6 percent after the cement maker reported an over two-fold jump in consolidated net profit to Rs 569.45 crore for the second quarter ended June 2021, helped by a lower base, increase in sales and cost-efficiency. Cement sales volume jumped 43.7 percent to 6.84 million tonnes (MT) as against 4.76 MT in April-June 2020. Revenue from ready-mix concrete increased four-fold to Rs 255.08 crore as against Rs 62.23 crore.
Adani Group stocks fall | Adani Group stocks fell on July 20, a day after Parliament was told that the Securities and Exchange Board of India (SEBI) and Directorate of Revenue Intelligence (DRI) were investigating some of the group companies. On July 19, the Minister of State for Finance Pankaj Chaudhary told Parliament that SEBI was investigating Adani Group companies for non-compliance with rules. Adani Power and Adani Transmission shed 5 percent, while Adani Green Energy was down 4 percent.
Bajaj Finance | CMP: Rs 5,965.15 | The stock ended in the red on July 20. The company reported a 4.2 percent jump in its Q1 net profit at Rs 1,002.4 crore versus Rs 962.3 crore. Its net interest income (NII) was up 8% at Rs 4,489 crore versus Rs 4,152 crore, (YoY).
Newgen Software | CMP: Rs 664.60 | The share price fell 5 percent after the company posted a 59 percent fall in its Q1FY22 net profit at Rs 21.6 crore versus Rs 52.7 crore. Its revenue was down 20.2% at Rs 159.5 crore versus Rs 200 crore, QoQ.
ISGEC Heavy Engineering | CMP: Rs 792 | The scrip ended in the green after the company secured orders for two sets of carbonation columns, one set of gas scrubber columns and a set of distillation columns based in Russia, the company said in its release.
Shyam Metalics | CMP: Rs 441.50 | The stock added over 2 percent after the company reported net profit at Rs 458 crore against Rs 80.4 crore in the year-ago quarter. Its revenue was at Rs 2,465 crore versus Rs 911.8 crore, YoY.
Sandip Das
