Among the sectors, except metal and PSU bank all other sectors ended lower, with the Nifty Pharma falling more than 4 percent. BSE midcap and smallcap indices also ended in the red
The benchmark indices ended lower for the second consecutive session on July 27, dragged by the weak Asian market cues. At close, the Sensex was down 273.51 points, or 0.52%, at 52,578.76, and the Nifty was down 78 points, or 0.49%, at 15,746.50.
Dr Reddy’s Labs | The stock plunged over 10 percent after the company has reported consolidated profit at Rs 570.8 crore for the quarter ended June 2021, a 1.5 percent drop from the year-ago period. Profit in June 2020 quarter stood at Rs 579.3 crore. Revenue from operations grew by 11.4 percent year-on-year to Rs 4,919.4 crore in Q1FY22.
Larsen & Toubro | CMP: Rs 1,605.60 | The share ended in the green on July 27. The company’s June quarter consolidated net profit jumped almost four times to Rs 1,174.44 crore. In Q1 FY21, the company posted a profit at Rs 303 crore on COVID-induced lockdown. Revenue for the said quarter came in at Rs 29,334.73 crore, up 38 percent, as against Rs 21,259.97 crore posted in Q1 FY21.
Canara Bank | CMP: Rs 148.70 | The share added a percent after the bank reported net profit at Rs 1,177.5 crore versus Rs 406.2 crore and net interest income was up 0.8% at Rs 6,146.6 crore versus Rs 6,095.5 crore, YoY.
Ramco Cements | CMP: Rs 1,063 | The scrip shed over 5 percent on July 27. The company’s standalone net profit rose 54.2% to Rs 169 crore against Rs 109.6 crore and revenue was up 18% at Rs 1,229 crore versus Rs 1,042 crore, YoY.
Kotak Mahindra Bank | CMP: Rs 1,700.15 | The stock price was down over 2 percent on July 27. The bank reported a 32 percent year-on-year (YoY) jump in standalone Q1FY22 net profit at Rs 1,641.92 crore against Rs 1,244.45 crore in Q1FY21. Net interest income (NII) for Q1FY22 increased 6 percent YoY to Rs 3,942 crore from Rs 3,724 crore in Q1FY21.
Axis Bank | CMP: Rs 731.65 | The stock was down over 3 percent on July 27., a day after the bank reported sharply higher profit at Rs 2,160.15 crore in Q1FY22 against Rs 1,112.17 crore in Q1FY21. Its net interest income increased to Rs 7,760.27 crore from Rs 6,985.31 crore YoY. The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 percent of the issued and paid up capital of IBBIC, Axis Bank said.
APL Apollo Tubes | CMP: Rs 1,741 | The share jumped over 8 percent after the company informed that a meeting of the Board of Directors will be held on August 6, 2021, to consider and approve unaudited financial results (standalone & consolidated) of the company for the quarter ended June 30, 2021. The board would also consider a proposal for issue of bonus shares.
GM Breweries | CMP: Rs 589.95 | The stock shed 3 percent on July 27. The company reported net profit at Rs 11.6 crore against Rs 2.4 crore and revenue was up at Rs 69.7 crore versus Rs 27.9 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) were at Rs 16.4 crore and the margin was at 23.5%.
Tata Motors | CMP: Rs 291 | The share price ended in the red on July 27. The auto major on July 26 posted a consolidated net loss of Rs 4,450.92 crore for Q1 FY22 against a net loss of Rs 8,437.99 crore in the corresponding quarter of the previous financial year. Net loss of the JLR segment stood at 110 million pounds which was above the CNBC-TV18 poll’s estimate of a loss of 56 million pounds.
TTK Prestige | CMP: Rs 9,100 | The stock ended in the red on July 27. The company posted consolidated net profit at Rs 30.6 crore against Rs 2.5 crore and revenue was up 77% at Rs 401.1 crore versus Rs 226.6 crore, YoY.
Sandip Das
