Among sectors, auto, capital goods, power and infra sectors ended in the red, while BSE Midcap and smallcap indices closed flat
The benchmark indices ended higher for the second consecutive day on July 23 led by the financial names. At close, the Sensex was up 138.59 points, or 0.26%, at 52975.80, and the Nifty was up 32 points, or 0.20%, at 15,856.
Telecom stocks end mixed | Telecom stocks ended mixed on July 23 after the Supreme Court dismissed applications for recomputation of AGR dues. The court dismissed the plea by Bharti and Vodafone Idea for correction of “errors” in AGR demand. The share price of Vodafone Idea was down over 9 percent at Rs 8.40 per share, while Bharti Airtel ended flat at Rs 546.80. Tata Teleservices shed over 4 percent at close on July 23.
Magma Fincorp | CMP: Rs 151.90 | The scrip jumped 5 percent after Adar Poonawalla-led Rising Sun Holdings acquired a controlling stake in the company. The company has been renamed as Poonawalla Fincorp with effect from July 22 after Adar Poonawalla-led Rising Sun Holdings acquired a controlling stake in the non-banking finance company (NBFC).
Mahindra Holidays | CMP: Rs 324.90 | The stock gained over 4 percent after the company said at a meeting to be held on July 29 a proposal for issuance of bonus equity shares, subject to requisite approvals, would also be considered.
JSW Steel | CMP: Rs 717.40 | The stock ended marginally in the green on July 23. The company posted a consolidated net profit of Rs 5,900 crore in the June quarter of FY22 against a loss of Rs 582 crore in the year-ago period. Its revenue was up at Rs 28,902 crore against Rs 11,782 crore, YoY.
Indoco Remedies | CMP: Rs 441 | The share ended in the red on July 23. Rating Committee of ICRA upgraded the long-term rating to [ICRA] AA- from A+. The outlook on the long-term rating is stable. The short-term rating has been revised to [ICRA] Al+ from A1.
Federal Bank | CMP: Rs 85.50 | The share ended in the green on July 23. The bank has reported a net profit of Rs 367.3 crore in the quarter ended June 2021, while net interest income stood at Rs 1,418.4 crore.
Biocon | CMP: Rs 397.25 | The stock price ended in the red on July 23. The pharma firm reported a 44 percent year-on-year (YoY) drop in net profit to Rs 84 crore in the first quarter ended June due to subdued API business and an exceptional item. Profit for the same period last year was Rs 149 crore.
UltraTech Cement | CMP: Rs 7,497.85 | The stock ended in the green on July 23. The company’s June quarter consolidated profit more than doubled to Rs 1,700.03 crore from Rs 793.08 crore in the year-ago period. The cement maker’s revenue from operations jumped 54 percent year-on-year (YoY) to Rs 11,830 crore in Q1FY22 from Rs 7,671 in Q1FY21.
Bajaj Auto | CMP: Rs 3,840 | The scrip ended in the red on July 23. The company reported a standalone net profit of Rs 1,061.18 crore for the June quarter FY22, up from Rs 528.04 crore in the year-ago period. The auto maker’s revenue more than doubled to Rs 7,386 crore in Q1FY22 against Rs 3,079.2 crore in Q1FY21.
Crompton Greaves Consumer | CMP: Rs 461.25 | The stock shed over 2 percent after the company declared its Q1 results. Net profit was up 26.7 percent at Rs 94.8 crore against Rs 74.8 crore (YoY). Revenue was up 45.9 percent at Rs 1,050.5 crore against Rs 720.1 crore (YoY). EBITDA gained 23.6 percent at Rs 125.1 crore against Rs 101.2 crore (YoY). EBITDA margin at 11.9 percent against 14.1 percent (YoY).
Sandip Das
