The stock market performed soundly, closing in the latest session at a four-month high following a decline in US inflation in July, but overall it was a range-bound session. The BSE Sensex rose more than 500 points to 59,333, while the Nifty50 rose 124 points to 17,659.
Results today
More than 700 companies including ONGC, Life Insurance Corporation of India, Hero MotoCorp, Grasim Industries, Divis Labs, Zee Entertainment Enterprises, Aegis Logistics, Ahluwalia Contracts, Apollo Tires, Astral, Bajaj Electricals, Bajaj Healthcare, Bajaj Hindusthan Sugar, Balaji Amines , Bharat Dynamics, Campus Activewear, Dilip Buildcon, Dhani Services, Finolex Cables, Godrej Industries, Hindustan Aeronautics, Indiabulls Real Estate, India Cements, Kolte-Patil Developers, Muthoot Finance, Info Edge India, Power Finance Corporation, SJVN, Sun TV Network , Supriya Lifescience, Timken India, Varroc Engineering, Voltamp Transformers and Wockhardt will be sharp for their June quarter results on August 12.
Stocks in News
Aurobindo Pharma
The pharmaceutical company reported a 32.4 percent year-over-year growth in consolidated profit of Rs 520.4 crore for the quarter ended June FY23, impacted by lower other income and operating income. Sales grew 9.4 percent to Rs 6,236 crore compared to the same period a year ago, with US formulation business increasing 10.8 per cent but formulation business in Europe declining 2.2 per cent mainly due to the depreciation of the euro.
Sterling and Wilson Renewable Energy
Promoter Shapoorji Pallonji and Company is going to sell up to 23.7 lakh shares or 1.25 percent of the shares through a put up for sale on August 12 and 16. The bottom price of the offer will be Rs 270 per share.
Balaji Aminen
Subsidiary Balaji Specialty Chemicals has submitted a draft red herring prospectus to the Sebi for IPO fundraising. The offer consists of a new share issue worth Rs 250 crore and an offer to sell shares of 2.6 crore by certain existing and eligible shareholders of Balaji Specialty Chemicals. Balaji Amines will not participate in the proposed offer.
KSB
The company reported a 74.3 percent year-over-year increase in consolidated profit of Rs 47.40 crore in the quarter ended June FY23, driven by higher sales, operating income and other revenues. Low base in Q1FY22 also supported gains. Revenue grew 48 percent to Rs 448.40 crore compared to the same period a year ago.
Aster DM Healthcare
The company reported a 35 percent year-over-year increase in consolidated profit of Rs 79.77 crore in the quarter ended June FY23, driven by operating performance, other revenues and sales. Revenue grew 12 percent to Rs 2,662 crore compared to the same period a year ago.
Gujarat Ambuja Export
The company recorded a 0.7 percent year-over-year increase in consolidated profit of Rs 114.60 crore for the quarter ended June FY23, impacted by higher input costs and a decline in operating income. Consolidated revenue grew 24.2 percent to Rs 1,272.86 crore compared to the same period a year ago.
Apollo Hospitals Enterprise
The healthcare provider reported a 35.3 percent year-over-year decline in consolidated profit of Rs 323.8 crore for the June FY23 quarter on a high. Revenue increased by 0.94 percent to Rs 3,795.60 crore as compared to the previous fiscal period.
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