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Adani Wilmar, GAIL, Titan, Mahindra and Mahindra, and Others

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Adani Wilmar, GAIL, Titan, Mahindra and Mahindra, and Others

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The Indian equity market ended lower in the previous session snapping its six-day winning streak, a day before the Reserve Bank of India (RBI) announces the monetary policy. At Close, the Sensex was down 51.73 points or 0.09% at 58,298.80, and the Nifty was down 6.20 points or 0.04% at 17,382.

“Taking positive momentum from the robust US economic data, the domestic market opened with gains, while worries over the US-China conflict kept investors on the defensive, leading to heavy volatility,” said Vinod Nair, Head of Research at Geojit Financial Services.

“Weak PMI and trade deficit data witnessed downside pressure on the Indian rupee & equity market. However, sustained foreign interest in Indian equities is led to buying on dips, resulting in a late recovery,” he added.

Results on August 5

Mahindra & Mahindra, Titan Company, Engineers India, NMDC, FSN E-Commerce Ventures (Nykaa), IRB Infrastructure Developers, One 97 Communications, Petronet LNG, Aditya Birla Fashion and Retail, Alkem Laboratories, Pfizer, Raymond, Computer Age Management Services, Eris Lifesciences, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, R Systems International, Shipping Corporation of India, Talbros Engineering, UCO Bank, and Zensar Technologies will be in focus ahead of their June quarter earnings on August 5.

Stocks In News

Gujarat State Petronet: The company reported a 11% year-on-year growth in consolidated profit at Rs 648.16 crore for the quarter ended June 2022, dented by higher input cost. Revenue grew by 63% YoY to Rs 5,670 crore for the FY23 quarter.

BEML: The company has an orderbook of Rs 9,100 crore as of June 2022 including order booking of Rs 571 crore during the quarter ended June 2022. The company posted consolidated loss at Rs 82.36 crore for the quarter ended June 2022, against loss of Rs 94 crore in same period last year, but revenue grew by 43% YoY to Rs 669.2 crore in Q1FY23.

Adani Ports: AD Ports Group has signed a Memorandum of Understanding (MoU) with Adani Ports and SEZ, for strategic joint investments in end-to-end logistics infrastructure and solutions, which include rail, maritime services, port operations, digital services, an industrial zone and the establishment of maritime academies in Tanzania.

Adani Enterprises: Subsidiary Adani Road Transport (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company (GRICL) and Swarna Tollway (STPL), for Rs 3,110 crore. ARTL will acquire 56.8% in GRICL and 100% stake in STPL from Macquarie Asia Infrastructure Fund, subject to regulatory approval. The transaction is expected to close in September 2022.

REC: The company clocked a 8.2% year-on-year increase in consolidated profit at Rs 2,454.2 crore for the quarter ended June 2022, partly due to decline in impairment on financial instruments. Revenue declined 0.55 percent YoY to Rs 9,497.5 crore for the June FY23 quarter.

Alembic Pharmaceuticals: The pharma company posted consolidated loss of Rs 65.88 crore for the quarter ended June 2022, against profit of Rs 164.52 crore in same period last year, impacted by lower top line. Revenue fell nearly 5% to Rs 1,262.14 crore compared to year-ago period.

Balkrishna Industries: The company recorded a 7.1% year-on-year decline in consolidated profit at Rs 307 crore for the quarter ended June 2022, impacted by higher input cost and freight & forwarding expenses. Revenue surged 45.3% YoY to Rs 2,619.43 crore for the June FY23 quarter.

Manappuram Finance: The company reported a 35.6% year-on-year decline in profit at Rs 282 crore for the quarter ended June 2022 as impairment on financial instruments remained elevated. Revenue from operations fell 4% to Rs 1,502 crore during the same period.

LIC Housing Finance: The housing finance company reported a 503% year-on-year growth in profit at Rs 925.5 crore for the quarter ended June 2022 as impairment on financial instruments declined sharply. Revenue from operations increased 9% YoY to Rs 5,285.5 crore for the June FY23 quarter.

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