Stocks in focus today: The market remained under bear control for the fourth straight session, with the Nifty50 closing below the 20-day exponential moving average (15,950) on July 14, following weakness in global counterparts after US inflation rose to 9 in June. 1 percent, a record in 41 years. . Technology, select banking and financial services and FMCG stocks weighed on the market. The BSE Sensex fell 98 points to 53,416, while the Nifty50 fell 28 points to 15,939.
Results today
Jindal Steel & Power, Federal Bank, Aditya Birla Money, Deep Diamond India, Den Networks, Integrated Capital Services, Just Dial, Kesoram Industries, Lloyds Metals and Energy, L&T Technology Services, Oberoi Realty and Opto Circuits (India) will focus on the quarterly results on 15 July.
Stocks to watch
Angel One
The brokerage firm has reported healthy 46.5 percent year-over-year growth in consolidated earnings of Rs 181.50 crore for the quarter ended June 2022, supported by strong sales. Revenue grew 45 percent year on year to Rs 669.8 crore in Q1FY23 with healthy growth in fee and commission income and interest income.
Adani Gates
Adani Ports won the tender on July 14 for the privatization of Israel’s port of Haifa, a major trade hub on the country’s Mediterranean coast, according to a statement by Gautam Adani on social media. “Happy to win the tender for the privatization of the Port of Haifa in Israel with our partner Gadot. Huge strategic and historical significance for both nations (sic),” tweeted Gautam Adani, the chairman of the Adani Group.
Syngene International
The company has signed a 10-year agreement for the production of organic products with the leading animal health company Zoetis. It will produce the drug substance for Librela (bedinvet mab), a monoclonal antibody used to treat osteoarthritis in dogs. Syngene’s collaboration with Zoetis started in 2011.
Tata Elxsia
The company posted a robust 63 percent year-over-year profit growth of Rs 184.7 crore for the quarter ended June 2022 on the back of strong operating profit and revenue growth. Operating income of 725.9 crore rupees grew 30 percent year-over-year and EBITDA increased 58.8 percent year-over-year to 238.2 crore in Q1FY23.
ACC
The cement company reported a 60 percent year-over-year decline in consolidated profit of Rs 227 crore in the quarter ended June 2022, affected by rising global fuel costs and related inflationary effects. EBITDA declined 51 percent year-on-year to Rs 426 crore and margin declined 1,310 basis points to 9.7 percent in Q2CY22. Sales were up 15 percent year-on-year to Rs 4,393 crore, with cement sales volumes up 10.5 percent to 7.56 million tons and ready-mix concrete sales volumes increasing 43.1 percent to 0.83 million cubic meters.
cipla
Subsidiary Cipla Health has signed definitive agreements to acquire Endura Mass, a weight gain nutritional supplement brand from Medinnbelle Herbalcare Private Limited. Endura and all other associated trademarks would be part of the acquisition.
GTPL Hathway
The company reported a nearly 9 percent year-on-year decline in consolidated earnings of Rs 43.25 crore in the quarter ended June 2022, but sales increased nearly 5 percent over the same period to Rs 630.9 crore, with subscription revenues 3 percent yoy rose to Rs 272.7 crore and broadband revenues increased 24 percent year-on-year to Rs 113.9 crore.
Tata Steel Long Products
The company recorded a loss of Rs 331 crore in the quarter ended June 2022 from a profit of Rs 331.6 crore year ago, impacted by the loss at the operating level due to higher raw material costs and financing costs. However, sales increased 18.2 percent year-on-year to Rs 1,994 crore in Q1FY23.
The expert opinions and investment tips in this News18.com report are their own and not the website’s or its management. Users are advised to contact certified experts before making any investment decisions.
Get all the latest news, breaking news, watch top videos and live TV here.