SBI Life Insurance, Tata Steel, Sun Pharma, HDFC Life and Hindalco Industries were among the major gainers on the Nifty, while losers were Dr Reddy’s Labs, Kotak Mahindra Bank, SBI, Divis Labs and Axis Bank.
Indian benchmark indices ended higher for the third consecutive day on July 29 with the Nifty above 17,100. At Close, the Sensex was up 712.46 points or 1.25 percent at 57,570.25, and the Nifty was up 228.70 points or 1.35 percent at 17,158.30. Among sectors, the Metal index rose more than 4 percent, while Pharma, Auto, IT, Power, and Oil & Gas indices added 1-2 percent each. However, the PSU Bank index shed 1 percent.
TVS Motor Company | CMP: Rs 907.90 | The share price touched a 52-week high of Rs 953.05, gaining more than 4 percent as its consolidated profit for the quarter ended June (Q1FY23) stood at Rs 305.37 crore against a loss of Rs 10.55 crore posted in the same quarter last year. Its revenue from operations zoomed 56 percent on-year at Rs 7,315.70 crore against Rs 4,689.34 crore logged in Q1FY22. On a standalone basis, its profit came in at Rs 321 crore as against Rs 53 crore logged in the first quarter of FY22, registering a four-fold growth. Operating revenue came in at Rs 6,009 crore against Rs 3,934 crore last year.
GMM Pfaudler | CMP: Rs 1,599 | The company share price rose 19 percent as it registered record revenue growth during April-June 2022 quarter. The company reported revenue growth of 34 percent for the first quarter of FY23 on the back of strong execution. EBITDA margin was at 13.2 percent, 672 basis points (bps) higher than the previous year. Order intake also improved by 24 percent driven by international business.
Ashok Leyland | CMP: Rs 149.05 | The share price touched a 52-week high of Rs 154.45, rising 2.4 percent on July 29 after the commercial vehicle maker reported a standalone profit of Rs 68 crore for the quarter ended June 2022, against a loss of Rs 282.3 crore in the corresponding period of the last fiscal. Revenue from operations for the June FY23 quarter increased sharply to Rs 7,223 crore, registering a 145 percent growth compared to Rs 2,951 crore in the same period last year.
Westlife Development | CMP: Rs 585 | The share price added nearly 9 percent after the company recorded an all-time-high sales figure of Rs 538 crore in the first quarter of FY23, a jump of 108 percent YoY. The company witnessed strong performances for three quarters in a row with more than Rs 6 crore of average annualised sales per store and over 16 percent EBITDA margin. It posted a cash profit after tax (PAT) of Rs 55 crore. The same-store sales growth (SSG) saw a significant increase of 97 percent YoY.
Sun Pharmaceutical Industries | CMP: Rs 943.55 | The share price gained over 5 percent on July 29 as the company reported a 43 percent growth in its consolidated net profit at Rs 2,061 crore in the first quarter of the financial year 2022-23 against a profit of Rs 1,444 crore in the year-ago period. On a sequential basis, the profit increased from a loss of Rs 2,277 crore in the January-March period.
Route Mobile | CMP: Rs 1,400.55 | The company share price added 13 percent as it recorded a 107 percent year-on-year growth in profit at Rs 71.07 crore for the quarter ended June 2022 on strong revenue growth and operating performance. Revenue grew by 93 percent to Rs 729 crore in the same period.
Morepen Laboratories | CMP: Rs 36.05 | The company share price fell more than 2 percent on July 29 as it posted 81.6 percent fall in Q1 consolidated net profit at Rs 5.6 crore versus Rs 30.5 crore and revenue was down 21.8 percent at Rs 302.4 crore versus Rs 386.7 crore, YoY.
Deepak Fertilizers and Petrochemicals Corporation | CMP: Rs 709.65 | The share price added 5 percent after the company posted a consolidated net profit of Rs 434 crore versus Rs 128 crore and revenue was up 59.4 percent at Rs 3,031 crore versus Rs 1,902 crore, YoY.
Dr Reddy’s Laboratories | CMP: Rs 4,090.35 | The share price shed 4 percent, even though the company reported 108 percent growth in its consolidated net profit at Rs 1,188 crore for the first quarter of FY23 as against a profit of Rs 571 crore registered in the year-ago period. Sequentially, the profit increased multifold from Rs 87.5 crore logged during the January-March period.
SBI Life Insurance Company| CMP: Rs 1,295.40 | The share price touched a 52-week high of Rs 1,305, gaining nearly 9 percent after the company recorded a 17.78 percent year-on-year growth in profit at Rs 262.85 crore for the quarter ended June 2022. Net premium income grew significantly by 32.76 percent YoY to Rs 11,036 crore compared to the corresponding period of last fiscal, but the income from investments came in at negative Rs 6,405.66 crore for the June FY23 quarter against income of Rs 7,409.91 crore, YoY.
Rakesh Patil
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