The market showed a smart recovery from the low of the day and closed with moderate losses on the first day of the new monthly F&O series, July 1, which continued the downward trend for the second consecutive session. Oil and gas stocks dragged the market after oil producers imposed an unexpected profit tax, but purchases of FMCG, IT, banking and financial services stocks cut losses significantly. The BSE Sensex fell 111 points to 52,908, while the Nifty50 fell 28 points to 15,752.
Hemisphere Properties India
Tata Sons Pvt Ltd sold 59.85 lakh shares or a 2.1 percent stake in the company through open market operations between June 28 and 29. This reduced Tata Sons’ stake in the company to 11.97 percent, from 14.07 percent earlier.
Glenmark Pharmaceuticals
The USFDA issued Form 483 with one observation following an inspection at the company’s formulation plant in Aurangabad, India between June 27 and July 1, 2022.
Hero MotoCorp
The leading two-wheeler manufacturer sold 4.85 lakh units of motorcycles and scooters in June 2022, a growth of 3.3 percent from 4.69 lakh units sold in the corresponding month of the previous fiscal year. During the quarter ended June 2022, it sold 13.90 lakh units, a robust double-digit growth of 35.7 percent from 10.25 lakh units sold in the same period last year.
CSB Bank
The private sector lender recorded a year-over-year growth of 16.16 percent in gross advances of Rs 16,332.8 crore for the quarter ended June 2022 and total deposits grew by 8.65 percent to Rs 20,266.8 crore. in the same period. Advances on gold and gold jewelry of Rs 7,099.33 crore, which is 43 percent of total advances, increased 26.37 percent year-on-year in Q1FY23.
Eicher Motors
The company sold 61,407 units of Royal Enfield in June 2022, up 43 percent from 43,048 units sold in the same month last year, including exports of 11,142 units that grew 54 percent year-on-year. During the quarter, Eicher sold 1,87,205 units of Royal Enfield, up 51 percent from 1,23,640 units sold in the same quarter last year.
Ashoka Buildcon
The joint venture led by Ashoka Buildcon emerged as ‘the lowest bidder’ for the construction and maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur. The project cost is Rs 611 crore and the construction period is 18 months from the commencement date. The company has a joint venture with Cube Construction Engineering, in which it has a 65 percent stake.
TVS Motor Company
The company registered 22 percent growth in June 2022 with sales of 3,08,501 units from 2,51,886 units in June 2021, including two-wheeler sales of 23 percent year-on-year from 2,93,715 units in June 2022. Total exports grew up 8 percent year-on-year to 1,14,449 units in June 2022.
Mahindra & Mahindra
The auto company sold 54,096 vehicles in June 2022, up 64 percent from 32,964 vehicles sold in the same month last year, while exports for the month were 2,777 vehicles, up 7 percent year on year. In June 2022, it sold 41,848 tractors, a decrease of 13 percent compared to 48,222 units sold in the same month last year.
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