ONGC, Tata Steel, NTPC, UPL, and Power Grid Corp were among the major Nifty gainers. The losers included Divi’s Lab, Apollo Hospitals, Infosys, Maruti Suzuki, and Tata Consumer Products.
In a highly volatile session, the Indian benchmark indices on August 12 ended near the day’s high with the Nifty settling around 17,700. At Close, the Sensex was up 130.18 points or 0.22% at 59,462.78, while the Nifty was up 39.20 points or 0.22% at 17,698.20.
Divi’s Laboratories | CMP: Rs 3,728.20 | The company’s share price fell more than 5 percent on August 12 despite the company posting a 26 percent jump in its Q1 net profit at Rs 702 crore versus Rs 557.1 crore logged in the year-ago quarter. Revenue was up 15 percent at Rs 2,254 crore versus Rs 1,960.6 crore in the year-ago period.
Apollo Hospitals Enterprise | CMP: Rs 4,309.85 | Apollo Hospitals Enterprises declined nearly 3 percent as the healthcare services provider reported a 35.3% year-on-year decline in consolidated profit at Rs 323.8 crore for the June FY23 quarter on a high base. Revenue increased by 0.94% to Rs 3,795.60 crore compared to the corresponding period last fiscal.
Shilpa Medicare | CMP: Rs 397.30 | The share price shed over 3 percent after the company reported a 46.6% year-on-year decline in consolidated profit at Rs 0.85 crore for the quarter ended June FY23, impacted by weak operating performance. However, revenue rose by 10% to Rs 261.15 crore, but EBITDA fell by 35.5% to Rs 20.57 crore compared to the corresponding period last fiscal.
KSB | CMP: Rs 1,713.20 | KSB touched a 52-week high of Rs 1,733.30, rising 8 percent after the company reported a 74.3% year-on-year increase in consolidated profit at Rs 47.40 crore for the quarter ended June of FY23. A low base in Q1FY22 supported earnings. Its revenue grew by 48% YoY to Rs 448.40 crore.
Gujarat Ambuja Exports | CMP: Rs 292.50 | The share price fell 5 percent despite the company recording a 0.7% year-on-year rise in consolidated profit at Rs 114.60 crore for the quarter ended June FY23 impacted by higher input cost and a fall in operating income. Consolidated revenue grew by 24.2% to Rs 1,272.86 crore compared to the year-ago period.
Sterling and Wilson Renewable Energy | CMP: Rs 279.05 | The share price fell more than 3 percent after the company promoter Shapoorji Pallonji and Company announced the sale of up to 23.7 lakh shares or 1.25% stake via OFS route on August 12 and August 16. The floor price of the offer will be Rs 270 apiece.
Aurobindo Pharma | CMP: Rs 592.40 | The scrip rose 3 percent after the company reported a 32.4% year-on-year growth in consolidated profit at Rs 520.4 crore for the quarter ended June FY23, impacted by lower other income and operating income. Revenue grew by 9.4% to Rs 6,236 crore compared to the year-ago period, with the US formulation business increasing 10.8%, but the Europe formulation business fell 2.2% mainly due to euro currency depreciation.
Ashoka Buildcon | CMP: Rs 77 | The share price gained after the company received a Letter of Intent from Provident Housing. The company had submitted its bid to Provident Housing Limited for the project viz. ‘Civil and Structural Finishes work for Provident Palmvista Residential Project, at Kalyan. The accepted contract price for the project is Rs 254.50 crore excluding taxes and the construction period is 42 months from the commencement date.
Aster DM Healthcare | CMP: Rs 216 | The share price declined 9 percent despite the company reporting a 35 percent year-on-year increase in consolidated profit at Rs 79.77 crore for the quarter ended June FY23, driven by operating performance, other income, and top line. Revenue grew by 12% to Rs 2,662 crore compared to the year-ago period.
Ipca Laboratories | CMP: Rs 928 | The share price fell 8.6 percent on August 12 as the company reported a 53 percent fall in its Q1FY23 net profit at Rs 143.06 crore against Rs 306.66 crore logged in June 2021. However, its net sales were up at Rs 1,585.74 crore versus Rs 1,565.79 crore, YoY.
Rakesh Patil
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