The key equity indices ended the volatile session with decent gains on Friday. The Nifty closed a tad below the 17,700 level after hitting the day's low of 17,597.85 in the morning trade. Oil & gas, metal and realty shares advanced while media, healthcare and IT shares declined.
As per provisional closing basis, the barometer index, the S&P BSE Sensex, rose 130.18 points or 0.22% to 59,462.78. The Nifty 50 index rose 39.15 points or 0.22% to 17,698.15.
In the broader market, the S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.39%.
The market breadth was positive. On the BSE, 1,822 shares rose and 1,570 shares fell. A total of 151 shares were unchanged.
Buzzing Index:
The Nifty Media index fell 1.41% to 2,043.25, continuing its three days losing streak. The index lost 2.85% in three trading sessions.
Among the components of the Nifty Media index, Inox Leisure (down 2.91%), Zee Entertainment Enterprises (down 2.56%), Nazara Technologies (down 2.32%), PVR (down 2.15%) and Dish TV India (down 1.3%) were the top losers.
On the other hand, Network 18 Media & Investments (up 1.71%) ,Saregama India (up 1.24%) and TV18 Broadcast (up 0.81%) edged higher.
Earnings Impact:
Grasim Industries rose 1.31% after the company's consolidated net profit rose 16% to Rs 1,933 crore on 41% increase in revenue to Rs 28,042 crore in Q1 June 2022 over Q1 June 2021. On a consolidated basis, profit before tax (PBT) rose 11.40% year-on-year to Rs 3,869 crore in Q1 June 2022. EBITDA rose 10% YoY to Rs 5,233 crore in Q1 June 2022. EBITDA margin stood at 19% in Q1 June 2022, lower than 23% in Q1 June 2021.
Apollo Hospitals Enterprise declined 2.85% after the company reported 35.2% drop in consolidated net profit to Rs 317.11 crore in Q1 FY23 from Rs 489.28 crore in Q1 FY22. Revenue from operations rose by 0.9% YoY to Rs 3795.60 crore during the quarter.
Divis Laboratories slipped 5.75%. The pharma major's consolidated net profit jumped 26.01% to Rs 702.01 crore on 14.99% rise in revenue from operations to Rs 2,254.52 crore in Q1 FY23 over Q1 FY22. Total income grew 17.34% to Rs 2,342.91 crore in the quarter ended 30 June 2022 from Rs 1,996.61 crore recorded in the same period a year ago. Consolidated profit before tax stood at Rs 851.30 crore in the first quarter, up 4.52% as against Rs 814.48 crore posted in Q1 FY22.
Godrej Industries rose 0.87% after the company's consolidated net profit surged 47.19% to Rs 203.95 crore on 39.23% jump in revenue from operations to Rs 4024.55 crore in Q1 FY23 over Q1 FY22. Consolidated profit before tax grew 34.06% to Rs 317.94 crore in the quarter ended 30 June 2022 as against Rs 237.17 crore recorded in the same period last year.
Trent gained 3.26%. The Tata Group retail firm reported a consolidated net profit of Rs 130.51 crore in Q1 FY23 as against a net loss of Rs 126.59 crore recorded in Q1 FY22. The company reported revenue from operations of Rs 1,803.15 crore in the first quarter, steeply higher than Rs 491.99 crore posted in the corresponding quarter previous year.
Page Industries fell 0.01%. The company reported a net profit of Rs 207.04 crore in Q1 FY23, steeply higher than Rs 10.95 crore recorded in Q1 FY22. Revenue from operations zoomed 167.4% to Rs 1,341.27 crore in the quarter ended 30 June 2022 as against Rs 501.54 crore posted in the corresponding quarter previous year.
Balaji Amines tumbled 4.32%. The company's consolidated net profit rose 36% to Rs 122.96 crore on a 48.7% increase in revenue from operations to Rs 670.17 crore in Q1 FY23 over Q1 FY22. Sequentially, consolidated net profit rose 13% and revenue from operations fell 14% in Q1 June 2022 over Q4 March 2022. Profit before tax in Q1 FY23 stood at Rs 204.98 crore, up by 55.9% from Rs 131.48 crore in Q1 FY22.
Aurobindo Pharma rose 2.82%. The pharmaceutical company reported 32.4% fall in consolidated net profit to Rs 520.5 crore in Q1 FY23 from Rs 770 crore in Q1 FY22. Revenue from operations increased 9.4% YoY to Rs 6,235.9 crore during the period under review. In Q1 FY23, US formulations revenue increased by 10.8% YoY to Rs 2,971.1 crore while Europe formulation revenue stood at Rs 1,548.1 crore, with decrease of 2.2% YoY mainly due to Euro currency depreciation.
Global Markets:
The Dow Jones futures were up 170 points, indicating a positive opening in the US stock market today.
Shares in Europe advanced while Asian stocks traded mixed on Friday following strong gains in the previous session as investors digested the U.S. inflation report.
US stocks struggled for direction on Thursday before closing mixed. The Dow Jones Industrial Average rose 27.16 points, or 0.08%, to 33,336.67, while the S&P 500 slid 2.97 points, or 0.07%, to 4,207.27 and the Nasdaq Composite dropped 74.89 points, or 0.58%, to 12,779.91.
US producer prices unexpectedly fell in July amid a drop in the cost for energy products. The producer price index for final demand declined 0.5% last month, the first negative monthly reading since April 2020, the Labor Department said on Thursday. The PPI climbed 1.0% in June. In the 12 months through July, it increased 9.8% after advancing 11.3% in June.
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