The market closed the volatile session on a positive note in the privious session, the D-day for the Reserve Bank of India monetary policy, after recouping the previous day’s losses. Select banking and financial services, FMCG and IT stocks helped the market close higher. The BSE Sensex rose 89 points to 58,388, while the Nifty50 climbed just 15 points to 17,397.
Results Today
Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation of India, NALCO, Astrazeneca Pharma India, Chemcon Speciality Chemicals, City Union Bank, Delhivery, Dhanlaxmi Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Housing & Urban Development Corporation, JK Tyre & Industries, Jaypee Infratech, Vedant Fashions, Samvardhana Motherson International, Sequent Scientific, Sun Pharma Advanced Research Company, Subex, Torrent Power, and Whirlpool of India will be in focus ahead of June quarter earnings on August 8.
Stocks in News
State Bank of India
The country’s largest lender reported a 6.7 per cent year-on-year decline in profit at Rs 6,068 crore for the quarter ended June FY23 impacted by lower operating profit and other income, though supported by lower provisions. Net interest income during the quarter grew by 12.87 per cent YoY to Rs 31,196 crore, but operating profit declined 32.8 per cent YoY to Rs 12,753 crore and other income plunged 80 per cent YoY to Rs 2,312 crore for the quarter ended June FY23. Loan loss provisions fell by 15.14 per cent to Rs 4,268 crore during the same period.
Bharat Petroleum Corporation
The oil marketing company posted a standalone loss of Rs 6,290.80 crore for the quarter ended June FY23, against a profit of Rs 3,192.58 crore in the corresponding period last fiscal, impacted by an increase in input cost. Revenue from operations grew by 54 per cent year-on-year to Rs 1.38 lakh crore for the June FY23 quarter. The average gross refining margin (GRM) of the Corporation for the quarter was $27.51 per barrel against $4.12 per barrel in Q1FY22 as the suppressed marketing margins of certain petroleum products have offset the benefit of higher GRM.
Hindustan Petroleum Corporation
The oil retailer posted a big loss of Rs 10,197 crore for the quarter ended June FY23 against a profit of Rs 1,795 crore for the same period last year, impacted by erosion in the marketing margin on motor fuels and LPG. Revenue grew by 56 per cent YoY to Rs 1.22 lakh crore during the same period.
Marico
The FMCG company reported a 3.3 percent YoY increase in consolidated profit at Rs 377 crore for the June FY23 quarter supported by higher operating performance. Revenue grew by 1.3 per cent YoY to Rs 2,558 crore and EBITDA increased by 9.77 per cent to Rs 528 crore compared to the year-ago period.
One 97 Communications
Digital payments platform operator Paytm has posted a consolidated loss of Rs 645.4 crore for the quarter ended June FY23, widening from a loss of Rs 381.9 crore in the same period last fiscal. Revenue from operations grew by 88.5 per cent to Rs 1,679.60 crore during the same period.
FSN E-Commerce Ventures
The Nykaa brand operator clocked a 42.24 percent year-on-year increase in consolidated profit at Rs 5.01 crore for the quarter ended June FY23, aided by better topline and operating performance of the cosmetics-to-fashion retailer. Revenue from operations for the June FY23 quarter came in at Rs 1,148.4 crore, registering a 40.56 per cent growth compared to the same period last year. The consolidated gross merchandise value (GMV) has been quite strong, and has grown 47 per cent year-on-year to Rs 2,155.8 crore for the quarter ended June FY23.
Affle India
The company recorded a 93.5 per cent YoY growth in profit after tax at Rs 55.2 crore for the quarter ended June FY23 on broadbased growth in both CPCU business and non-CPCU business, across India and international markets. Revenue at Rs 347.5 crore grew by 128 per cent YoY and EBITDA rose by 96 per cent to Rs 68.7 crore compared to the year-ago period.
Birlasoft
Axis Mutual Fund bought 5.08 lakh shares in the company via open market transactions on August 4. With this, its shareholding in the company increased to 5.12 per cent, up from 4.94 per cent earlier.
Raymond
The company recorded a consolidated profit of Rs 81 crore for the quarter ended June FY23 against a loss of Rs 157 crore in the corresponding period last fiscal. The year-ago numbers were affected by the second COVID wave. Revenue grew by 104 per cent YoY to Rs 1,754 crore for the June FY23 quarter.
Maruti Suzuki India
Life Insurance Corporation of India sold 2.015 per cent stake or 60.88 lakh equity shares in the country’s largest car maker via open market transactions. With this, LIC’s stake in the company reduced to 4.2 per cent, down from 6.22 per cent earlier.
SJVN
The company has bagged the full quoted capacity of 200 MW solar project at Rs 2.90 per unit on a build, own and operate (BOO) basis through e-RA conducted on August 4. The power purchase agreement shall be executed after the issuance of a letter of intent from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The ground-mounted solar project shall be developed by SJVN anywhere in Maharashtra through the EPC contract.
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