Sensex falls 123 pts as investors book profit in RIL, banks, auto stocks

The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

11:50 AM

Q1 results: 230 early bird companies report 71% jump in net profit

The companies in cyclical sectors are likely to drive corporate earnings in the June 2021 quarter, too. The combined net profit of 230 early bird companies in Q1FY22 is up 70.6 per cent year-on-year (YoY), because of a favourable base and strong showing by firms in cyclical sectors, such as banking, metals & mining, cement, and oil & gas.

 

The combined net sales were up 35.2 per cent YoY to Rs 5.25 trillion in the June 2021 quarter, though the figure was down 5 per cent over Q4FY21. READ MORE

11:37 AM

What were RIL's hits and misses in Q1? D-Street analysts decode

The oil-to-telecom behemoth Reliance Industries posted its June quarter numbers on July 23. Business Standard spoke to some of the D-Street analysts to understand the conglomerate's diverse businesses and how they fared in Q1! Watch the video for more

11:18 AM

Q&A | Expect time-wise correction in market for next few months: Nirav Sheth

Markets are trading at about 21xFY22 and about 19XFY23E earnings at the higher end of their trading range. Earnings racing off a cliff have some upside risk and low-interest rates will support relatively high valuations. We expect markets to time correct for the next several months and sector rotation to be the dominant theme. READ FULL INTERVIEW HERE

Nirav Sheth, CEO- Institutional Equities, Emkay Global Financial Services

11:05 AM

L&T Q1 Preview: Net profit may slide up to 60% QoQ, say analysts

“We expect Q1FY22 to be a weak quarter in terms of execution and profitability across the EPC (Engineering procurement and construction) and industrials space, as a sharp spike in Covid-19 cases across India, particularly in April-May, impacted execution levels,” said a report by foreign brokerage Nomura. 

 

It added: Q1FY22 also saw a further rise in commodity prices (especially steel), compared with Q4FY21, leading to further aggravation of pressure on gross margins. Thus, we expect execution to weaken for EPC companies like L&T from the March quarter of FY21 (Q4FY21). READ MORE

10:51 AM

NEWS ALERT :: NTPC issues clarification on report of bagging new order in Madhya Pradesh

Co says: Yes, NTPC Renewable Energy Ltd. (NTPC REL), a 100% subsidiary of NTPC, has emerged winner at the Rewa Ultra Mega Solar Limited (RUMSL) auction for 450 MW of solar projects at the Shajapur Solar Park in Madhya Pradesh (M.P). NTPC Renewables won a capacity of 105 MW & 220 MW quoting the lowest tariff of Rs 2.35 per kWh, and Rs 2.33 per kWh respectively.

However, NTPC group having an installed capacity of 66875 MW, has no material information to add, on the above mentioned news item on a routine business activity, considering size and scale of operations of the Company. 

Considering size and scale of operations of the Company there is no material impact of this article on the Company.
 

10:38 AM

MARKET CHECK :: Sensex at day's high

10:28 AM

SBI Card gains 4% on strong June quarter results

In Q1FY22, SBI Card saw a sequential revenue increase of 2 per cent, and 10 per cent year-on-year (YoY), to Rs 2,362 crore. The net profit was up 74 per cent at Rs 304.61 crore against Rs 175.42 crore QoQ. Net interest margin improved 159 basis points (bps) sequentially at 14.8 per cent from 13.2 per cent the previous quarter. READ MORE

10:14 AM

Tata Motors Q1 Preview: Analysts estimate up to Rs 2,000 crore loss

“Tata Motors is expected to report muted Q1FY22 results tracking sequential weakness in volumes across India passenger vehicles (PV), India commercial vehicle (CV) and Jaguar Land Rover (JLR) operations along with associated perils of negative operating leverage and higher raw material costs,” noted analysts at ICICI Securities. READ MORE

10:01 AM

Axis Bank slips over 1% ahead of Q1 results today; here's what to expect

Nomura

 

The brokerage is building in a net interest income (NII) growth of 18.6 per cent year-on-year (YoY) at Rs 8,285.2 crore on the back of a 0.5 per cent QoQ and 11.7 per cent YoY growth in loan book at Rs 6.27 trillion. Further, they expect a marginal operating profit growth of 0.8 per cent sequentially, at Rs 6,918 crore, aided by higher NII, while net profit is pegged at Rs 2,848.3 crore, up 156 per cent YoY and 6.4 per cent QoQ. READ MORE

9:44 AM

ICICI Bank hits record high post stellar Q1; slips later on profit booking

Shares of ICICI Bank hit a frsh record high of Rs 681.40, up 1 per cent on the BSE in Monday's intra-day trade, after the private sector lender reported a strong set of numbers for the quarter ended June 2021 (Q1FY22). The stock surpassed its previous high of Rs 679, touched on February 16, 2021. The stock, however, slipped nearly 3 per cent from its intra-day high on profit booking. READ MORE

9:36 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

15600 - 15900 range has held well for the Nifty for some time now. Buying at around 15600 and selling at around 15900 have proved to be profitable for traders. This range is likely to break on the upside when FII selling becomes weak and DII buying becomes strong, as is happening now. The very good Q1 results declared so far confirm the turnaround in corporate earnings. And this can embolden the bulls. If the Nifty breaks 15900 decisively & move forward, that rally is likely to be led by a new set of heavyweights. An important development in the banking space is the huge outperformance of ICICI Bank over HDFC Bank. This month, so far, HDFC Bank is down 3.7% while ICICI Bank is up by 7.3%. Globally, while the US & European markets are at record highs, Asia is under pressure due to rising Covid cases in Indonesia, Korea & Japan. This is unlikely to weigh on India since fresh cases are continuously on the decline in India except in certain pockets.

9:31 AM

JSPL gains 4% on receiving revised bid for subsidiary

> JSPL on Sunday announced it has received a revised offer of Rs 7,401 crore from Worldone Private Limited for divestment of its subsidiary company Jindal Power Limiter (JPL). Jindal Steel and Power Limited (JSPL) had earlier announced accepting a Rs 3,015-crore offer from Worldone Private Limited to divest 96.42 per cent stake it holds in the subsidiary company JPL.

9:27 AM

MCX slips post Q1 show

>> Leading commodity bourse MCX has posted a 29.47 per cent YoY drop in its consolidated net profit at Rs 39.80 crore in the first quarter of the current fiscal. The company had clocked a net profit of Rs 56.43 crore in the same quarter previous fiscal.

9:26 AM

Earnings Impact :: YES Bank jumps nearly 6%

>> The private sector lender reported a sharp increase in its June quarter net profit at Rs 203.76 crore on a consolidated basis, as against Rs 34.05 crore in the year-ago period, as the private sector lender's asset quality issues subsided.

9:24 AM

Results Impact :: Investors book profit in ICICI Bank

> ICICI Bank reported a 78 per cent YoY rise in standalone net profit at Rs 4,616 crore for June quarter compared with Rs 2,599 crore in the same quarter last year.