On the sectoral front, IT, metal, pharma, FMCG fell 1-3 percent. BSE midcap and smallcap fell a percent each
The Indian benchmark indices ended lower for the fourth straight session on October 22 amid volatility. At close, the Sensex was down 101.88 points, or 0.17%, at 60,821.62 and the Nifty ended 63.20 points, or 0.35%, lower at 18,114.90.
Reliance Industries | CMP: Rs 2,625.75 | The stock ended in the green on October 22 ahead of its Q2 results. The company is expected to clock double-digit growth in key earnings parameters for the September quarter year-on-year, driven by the retail and digital segments. Experts said Reliance’s retail and digital businesses, which accounted for 32.4 percent and 18.5 percent of the total revenue, respectively, could be the stars of the September quarter, driving double-digit growth in every earnings parameter. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Biocon | CMP: Rs 324.20 | The stock price fell over 6 percent after the biotechnology major said its consolidated net profit declined by 18 percent to Rs 138 crore for the second quarter ended September 30. The pharma company said it expects a recovery in the generics business in FY23. It expects an improvement in Semglee market share in CY22. It sees no visibility on when the inspection for Bevacizumab will be done and said it had asked US FDA to even consider a remote inspection for Bevacizumab.
TVS Motor | CMP: Rs 618.60 | The scrip jumped over 7 percent after the company reported sharply higher profit at Rs 277.6 crore in Q2FY22 against Rs 196.3 crore in Q2FY21. Revenue jumped to Rs 5,619.4 crore from Rs 4,605.5 crore YoY.
LIC Housing Finance | CMP: Rs 409 | The share fell 7 percent after the mortgage lender reported a 68.66 percent decline in its standalone profit after tax at Rs 247.86 crore in the September quarter on higher provisioning for non-performing loans. The figure stood at Rs 790.90 crore in the year-ago period.
Indian Hume Pipe | CMP: Rs 201.20 | The share gained over 3 percent after the company received the letter of acceptance for a project of a contract value of Rs 156.27 crore from Maharashtra Krishna Valley Development Corporation for the construction of Piped Distribution Network for Palashi Branch Canal, Vadjal Branch Canal, on main canal of Urmodi Irrigation Project for the creation of 1,1280 Ha irrigation potential with 5 years operation and maintenance.
PVR | CMP: Rs 1,628 | The stock shed over 2 percent after the firm reported a consolidated net loss of Rs 153.1 crore in Q2FY22 a against loss of Rs 184 crore. Revenue was at Rs 120.3 crore against Rs 40.5 crore, YoY.
Polycab India | CMP: Rs 2,255.05 | The stock price ended in the green on October 22. The firm’s net profit of was down 10.2% at Rs 198 crore against Rs 220.5 crore (YoY). Revenue jumped 48% at Rs 3,129 crore against Rs 2,144 crore (YoY). EBITDA was down 3.1% at Rs 303 crore against Rs 312.5 crore (YoY). Margin at 9.7% against 15% (YoY).
Steel Strips Wheels | CMP: Rs 1,845 | The scrip added over a percent after the company posted Q2 net profit at Rs 62.8 crore versus Rs 14 crore and revenue was at Rs 958 crore versus Rs 404.7 crore, YoY.
J Kumar Infraprojects | CMP: Rs 163.40 | The stock was down over 2 percent on October 22. The company received a letter of acceptance from City and Industrial Development Corporation of Maharashtra Limited for Design & Construction of connecting Road from Jalmarg, Sector-16, Kharghar to ‘Sector- II in CBD & balance link between Sector-15 CBD to Water Transport Terminal in Nerul, Navi Mumbai worth of Rs 2,05,49,47,000.
Sandip Das
