The market was volatile and managed to record moderate gains as a result of recovery in the last few hours of trading on August 2nd. So there was a continuation of the uptrend for the fifth consecutive session. The BSE Sensex rose 21 points to 58,136, while the Nifty50 rose 5.5 points to 17,345.50.
Results today
Lupine, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, Devyani International, Firstsource Solutions, Gujarat Gas, Inox Leisure, KEC International, Paras Defense and Space Technologies, PI Industries, Sandhar Technologies, Satin Creditcare Network, Specialty Restaurants, Tata Coffee and Zuari Agro Chemicals will focus on June 3rd quarter results on August 3.
Stocks in News
subex
Jio Platforms has announced a partnership with Subex for its AI Orchestration Platform, HyperSense, enabling telcos to deliver on the promise of AI in the data value chain. Jio Platforms will offer its Cloud Native 5G Core to telecom companies worldwide along with Subex’s HyperSense to enable closed-loop network automation, product performance and customer experience analytics.
Paradeep Phosphates
The company reported a 4.7 percent year-over-year increase in consolidated profit of Rs 62.77 crore for the quarter ended June 2022, impacted by higher finance costs and input costs, but supported by sales. Operating income grew at an 85 percent year-on-year rate to Rs 2,434.66 crore in the same period.
Volta
The company recorded a 10-percent year-over-year profit decline from Rs 110 crore for the quarter ended June 2022, affected by other revenues. Over the same period, sales grew 50 percent year-on-year to Rs 2,795 crore, largely driven by the unitary refrigeration segment, which grew 125 percent year-on-year.
eClerx Services
The company said its board of directors will hold a meeting on Aug. 9 to consider issuance of bonus shares. The board of directors will also consider unaudited financial results (consolidated and standalone) of the company for the quarter ended June 2022 on the same date.
Adani Green Energy
The company reported a 2.3 percent year-over-year decline in consolidated earnings of Rs 214 crore for the quarter ended June 2022, dented by lower other earnings and forex losses. Revenue grew 58 percent year-on-year to Rs 1,701 crore during the same period. Robust growth in sales and EBITDA from power is supported by capacity expansion, improved solar and wind CUF and high hybrid CUF, while consistent EBITDA margin (flat at 92 percent year-over-year) is supported by high solar, wind and hybrid CUF and cost savings through real-time centralized monitoring through the power network management center.
Aurobindo Pharma
The API Non-Antibiotic Manufacturing Facility in Andhra Pradesh has received a ‘Form 483’ with 3 observations, but none of these observations are related to data integrity. The USFDA inspected the company’s Unit XI, a non-antibiotic production facility for APIs, from July 25 to August 2. Previously, the said unit was classified as OAI on May 17, 2019 and then received a warning letter dated June 20, 2019.
Jubilant Pharmova
The USFDA has made six observations at the company’s fixed-dose manufacturing facility at its Roorkee plant. The USFDA has completed an audit of this facility of Jubilant Generics, a subsidiary of its wholly owned subsidiary Jubilant Pharma.
ITC
The company has exited its lifestyle retail business following a strategic overhaul of its business portfolio.
Mahindra & Mahindra Financiële Financial Services
Against the backdrop of a positive macro environment, the company said in July 2022 that the company continued its momentum with the payout of approximately Rs 3,912 crore, delivering 63 percent YoY growth and 3 percent sequential MoM growth. The YTD payout of about Rs 13,385 crore registered a YoY growth of 114 percent. Collection efficiency (CE) was 97 percent for July 2022, better than the 95 percent CE for July 2021.
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