The benchmark indices ended higher for the second consecutive day on July 28 . At close, the Sensex was up 1,041.47 points or 1.87% at 56,857.79 and the Nifty was up 287.80 points or 1.73% at 16,929.60.
Bajaj Finance | CMP: Rs 7,065.50 | The share price rose more than 10 percent after the firm reported its highest ever net profit in the quarter ended June 2022. Its consolidated net profit for the quarter was at Rs 2,596.25 crore, 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) increased by 48 percent to Rs 6,638 crore from Rs 4.489 crore in the year-ago quarter. Research firm Citi has maintained a “buy” rating on the stock with the target at Rs 8,400 a share. Brokerage house BofA Securities has also maintained a “buy” rating with the target at Rs 8,345 a share on the back of the strong performance with beat on all key parameters.
Bajaj Finserv | CMP: Rs 14,650 | The stock price surged 10 percent after the company’s consolidated net profits for the quarter ended June climbed 57 percent to Rs 1,309 crore from Rs 833 crore a year ago. Revenue from operations advanced 14 percent year-on-year to Rs 15,888 crore, up from Rs 13,949 crore. The Board of Directors of Bajaj Finserv also approved a sub-division of equity shares of the face value of Rs 5 each. It will be followed by a bonus issue of one share for every share held. This is subject to shareholders’ approval, the company said.
Hindustan Aeronautics | CMP: Rs 2,029 | The share price jumped over 4 percent after the company signed a contract worth over $ 100 million with Honeywell for HTT-40 Engines. The company will supply and manufacture 88 TPE331-12B engines/kits along with maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40).
SBI Cards & Payments Services: CMP: Rs 927.90 | The scrip gained over 4 percent after the company reported net profit which was up 8% at Rs 626.9 crore against Rs 581 crore (YoY). Revenue rose 8.8% at Rs 3,100 crore against Rs 2,850.3 crore (YoY). Its gross NPA came in at 2.24% against 2.22% while net NPA came in at 0.79% against 0.78% (QoQ).
Tata Motors | CMP: Rs 442.55 | The stock price ended in the red on July 28, a day after the company reported losses in the quarter ended June 2022. Tata Motors on July 27 said its consolidated net loss came in at Rs 5,006.60 crore, widening from a loss of Rs 4,450.92 crore in the same quarter last year. Total revenue from operations, however, stood at Rs 71,934.66 crore, up 8.32 percent from Rs 66,406.45 crore in the year-ago quarter. Research firm CLSA has retained the “outperform” rating on the stock and raised the target price to Rs 494 from Rs 453 a share.
Filatex India | CMP:Rs 96.50 | The stock fell over 4 percent after the firm reported a 16.8% year-on-year decline in profit at Rs 43.39 crore for the quarter ended June 2022, impacted by higher input costs and weak operating performance. Revenue however surged 46.4% YoY to Rs 1,023.3 crore during the same period.
Dr Lal PathLabs | CMP: Rs 2,137.15 | The scrip ended in the red on July 28. The company reported 56.4 percent fall in its June quarter (Q1FY23) net profit at Rs 58.2 crore versus Rs 133.7 crore and revenue was down 17.1% at Rs 502.7 crore versus Rs 606.6 crore, YoY.
Jubilant Foodworks | CMP: Rs 564.50 | The share price ended in the green after the company reported a 63 percent year-on-year growth in consolidated profit at Rs 112.6 crore for the quarter ended June 2022, driven by a low base and strong revenue and operating performance. While the year-ago quarter was affected by the second Covid wave, the sequential growth in the bottom line was 17.3 percent.
Bajaj Auto | CMP: Rs 3,865.05 | The scrip ended in the red on July 28. The two and three-wheeler maker clocked a 10.6 percent year-on-year growth in standalone profit at Rs 1,173.3 crore for the quarter ended June 2022, supported by strong operating profit and price hikes. Profit for the year-ago quarter was at Rs 1,061.2 crore. Brokerage firm Morgan Stanley has an “equal-weight” rating on the stock with the target at Rs 4,182 a share.
DB Corp | CMP: Rs 87 | The scrip jumped more than 6 percent on July 28. The company has reported a net profit of Rs 31 crore against a loss of Rs 22.2 crore. Its revenue was up 62.4% YoY at Rs 494 crore from Rs 304.2 crore.
