All the sectoral indices ended in the green, with bank, IT, metal, oil & gas, capital goods and pharma indices gaining 1-2 percent. The BSE midcap index rose 0.9 percent and smallcap index added 0.38 percent
Indian benchmark indices snapped a two-day losing streak to end higher on July 27. At close, the Sensex was up 547.83 points, or 0.99%, at 55,816.32, and the Nifty was up 158 points, or 0.96%, at 16,642.
Maruti Suzuki | CMP: Rs 8,650 | The share ended in the green on July 27 after the country’s largest car manufacturer reported a standalone profit of Rs 1,012.8 crore for the quarter ended June 2022, up 130 percent from the year-ago period on a low base. Standalone revenue from operations came in at Rs 26,499.80 crore, a 49.1 percent increase from Rs 17,770.7 crore in the same period of the last fiscal. Sequentially, the top line fell 0.9 percent, hit by lower volumes but supported by price hikes.
Bajaj Finance | CMP: Rs 6,408 | The stock added over 2 percent after the company’s Q1 earnings beat estimates. Its consolidated net profit for the quarter ended June was at Rs 2,596.25 crore, its highest ever, up 158.99 percent from Rs 1,002.44 crore in the same quarter of the previous year. The company said its net interest income (NII) for the quarter increased by 48 percent to Rs 6,638 crore from Rs 4.489 crore in the year-ago quarter. The company’s assets under management (AUM) crossed a milestone of Rs 2,00,000 crore in the quarter and stood at Rs 2,04,018 crore as of June 30, 2022, growing by 28 percent.
Asian Paints | CMP: Rs 3,178 | The scrip rose over 2 percent on July 27. The company reported an 80.4 percent on-year growth in consolidated profit at Rs 1,036 crore for the quarter ended June 2022, partly because of a low base. The June 2021 quarter, when the company reported a profit of Rs 574.30 crore, was affected by the second Covid wave. Consolidated revenue for the April-June 2022 period came in at Rs 8,607 crore, a 54 percent growth over Rs 5,585.36 crore reported in the year-ago quarter. Foreign research firm Credit Suisse has kept ‘outperform’ rating on the stock with a target at Rs 3,800 per share.
Larsen & Toubro | CMP: Rs 1,795.40 | The stock price was up over 2 percent, a day after the company reported a 45 percent year-on-year growth in consolidated net profit at Rs 1,702 crore for the first quarter of FY23. Despite the strong on-year growth, the profit missed the estimates of a poll conducted by Moneycontrol, which had forecast a year-on-year growth of 55 percent in its consolidated profit. Brokerage firm Jefferies has maintained the “buy” rating on the stock with a target at Rs 2,215 per share. Foreign research firm CLSA also has “buy” rating on the stock with a target at Rs 2,050 a share.
Genesys International Corporation | CMP: Rs 633.05 | The stock price surged 5 percent after the firm announced a partnership with Google, enabling the launch of Google Street View across the country and assisting in the advancement of the Indian mapping revolution.
Laurus Labs | CMP: Rs 515.20 | The stock price spiked over 6 percent after the company posted a 4 percent jump in Q1 consolidated net profit at Rs 251.3 crore versus Rs 241.4 crore and revenue was up 20.4% at Rs 1,539 crore versus Rs 1,278.5 crore, YoY.
Sansera Engineering | CMP: Rs 714 | The scrip fell over 7 percent after the company said one of its clients recalled a Rs 3,066-crore order that was placed in April. “Regarding business contract from a leading North American OEM for development, manufacturing and supply of connecting rods starting July 2025, we would like to inform you that basis recent review of business plan/strategy, our customer has decided to drop this project, consequent to which, the contract awarded to us by the aforesaid OEM stands withdrawn,” Sansera Engineering said in a regulatory filing on July 26.
GAIL India | CMP: Rs 146.75 | The stock added 2 percent on July 27. The company board recommended the issuance of bonus shares in the ratio of 1:2—one new equity share of Rs 10 each for every two existing equity shares of Rs 10 each fully paid up, subject to the approval of the shareholders at the 38th AGM of the company to be held on August 26.
Bharat Forge | CMP: Rs 713.25 | The share price ended in the green after BF Infrastructure Ltd, a wholly-owned subsidiary of Bharat Forge Limited, and Talgo India Pvt Ltd, a wholly-owned subsidiary of Patentes Talgo S.L., came together to set-up a joint venture that will manufacture high-speed passenger trains. The alliance will also address in future large business opportunities in the Indian Railways sector and tap the upcoming domestic requirements in the field.
Colgate-Palmolive | CMP: Rs 1,571 | The scrip rose over 2 percent despite the firm reporting 10% fall in its Q1FY23 net profit at Rs 209.7 crore from Rs 233.2 crore but the revenue was up 2.7% at Rs 1,197 crore from Rs 1,166 crore, YoY.
Sandip Das
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