The market ended a rangebound and volatile session on a mixed note with the Nifty50 managing to hold 17,500 levels in the previous session. It was supported by metal, select banks and auto stocks. The BSE Sensex fell 36 points to 58,817, while the Nifty50 gained 10 points at 17,535.
Results Today
Apollo Hospitals Enterprise, Aster DM Healthcare, Aurobindo Pharma, Bata India, Bharat Forge, Gujarat Ambuja Exports, Greaves Cotton, Garden Reach Shipbuilders & Engineers, Himadri Speciality Chemical, KNR Constructions, Page Industries, The Phoenix Mills, Puravankara, Quess Corp, Sapphire Foods India, Shilpa Medicare, Spencers Retail, Sunteck Realty, Trent, Vipul Organics, and Wonderla Holidays will be in focus ahead of June quarter earnings on August 11.
Stocks in News
Coal India
The state-owned company clocked a 178 percent year-on-year growth in consolidated profit at Rs 8,834.22 crore for the quarter ended June FY23 on a low base. The June quarter FY22 earnings were affected by the second COVID wave. Revenue increased 39 per cent to Rs 35,092 crore compared to the same period last year. The country’s largest coal mining company produced 159.75 million tonnes of raw coal, up 29 per cent YoY and its offtake of raw coal increased by 10.6 per cent YoY to Rs 177.49 million tonnes for the quarter ended June FY23.
Tata Consumer Products
The Tata Group company recorded a 38 per cent year-on-year growth in profit at Rs 277 crore for the quarter ended June FY23, with revenue rising 11 per cent to Rs 3,327 crore and EBITDA increasing 14 per cent to Rs 460 crore compared to the year-ago period. Revenue in constant currency terms increased 10 per cent YoY.
Eicher Motors
The two-wheeler and commercial vehicle maker reported a 157.5 per cent year-on-year growth in consolidated profit at Rs 610.66 crore for the quarter ended June FY23 supported by a low base. The Q1FY22 earnings were affected by the second COVID wave. Revenue grew by 72 per cent to Rs 3,397.5 crore compared to the corresponding period last fiscal.
Oil India
The company reported a 166 per cent year-on-year growth in consolidated profit at Rs 3,230 crore in the quarter ended June FY23. Revenue grew by 86.5 per cent to Rs 11,567 crore in Q1FY23, compared to Rs 6,202 crore in the same period last year.
Indian Railway Catering and Tourism Corporation
The company clocked a 198 per cent year-on-year growth in profit at Rs 245.52 crore for the quarter ended June FY23 with normalisation of business, aided by a low base. The year-ago quarter was affected by the second COVID wave. Revenue jumped 250 per cent to Rs 852.60 crore compared to the corresponding period last fiscal.
Mahindra & Mahindra
Life Insurance Corporation of India sold 2 per cent stake or 2.49 crore equity shares in the automobile company via open market transactions. With this, LIC’s stake in the company reduced to 6.42 per cent, down from 8.43 per cent earlier.
CESC
The company reported a 6 percent year-on-year growth in consolidated profit at Rs 297 crore for the quarter ended June FY23, impacted by the cost of fuel and electricity purchased, but aided by revenue, regulatory income and lower tax cost. Revenue increased by 27.5 per cent to Rs 4,102 crore compared to the year-ago period.
PB Fintech
The Policybazaar operator recorded a consolidated loss of Rs 204.33 crore for the quarter ended June FY23, widening from a loss of Rs 110.84 crore in the corresponding period last fiscal due to weak operating performance. The company has reported a significant increase in employee expenses, and advertising and promotion expenses for the quarter. EBITDA loss more than doubled to Rs 234.3 crore for the June FY23 quarter, against a loss of Rs 118.35 crore in the corresponding period last fiscal, and revenue from operations came in at Rs 505.2 crore, increasing 112.5 per cent over Rs 238 crore reported in the year-ago period.
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