RIL, Biocon, UltraTech, JSW Steel, RBL Bank and others
The bulls kept control of the markets which rose half a percent in the previous session, continuing the uptrend for the fifth consecutive session. So far, it is up more than 9% from its 52-week lows hit in June. All sectors except pharma contributed to the rally. The BSE Sensex climbed 284 points to 55,682, while the Nifty50 jumped 84.5 points to 16,605.
Reliance Industries, UltraTech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Bharat Gears, Gokaldas Exports, Greenpanel Industries, HFCL, Huhtamaki India, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries, Supreme Petrochem, Tinplate Company of India, Ugro Capital and Zenotech Laboratories will be the focus ahead of the June 2022 quarter results on July 22.
Actions in brief
The company said that the board has approved an investment proposal for the establishment of Mine III (peak capacity – 11.50 MTPA and normative capacity – 8.71 MTPA) at Neyveli, Tamil Nadu, at an estimated cost of Rs 3,755.71 crore, together with an investment proposal for the establishment of TPS II. , the second thermal power plant expansion (2 X 660 MW) in Neyveli, Tamil Nadu for Rs 11,189.20 crore.
The company recorded a 12% year-on-year decline in consolidated profit to Rs 273.6 crore for the quarter ended June 2022 and pre-tax profit also fell by 12% to Rs 367 crore. Revenue rose 6.5% year-on-year to Rs 793.55 crore, buoyed by interest income and service income but impacted by lower brokerage income.
The U.S. Food and Drug Administration concluded a pre-approval inspection for Biocon’s Hyderabad Site 3 in Telangana on July 20, with three observations. The company will process in a timely manner and is committed to ensuring the quality, safety and efficacy of its products.
The energy company posted a 179% year-on-year increase in consolidated profit to Rs 560 crore for the quarter ended June 2022, buoyed by exceptional revenue and strong operating profit as well as performance first class. Revenue grew 67.5% year-on-year to Rs 3,115 crore and EBITDA increased 34% to Rs 1,111 crore for the quarter.
The company reported a 47% year-on-year drop in consolidated profit to Rs 47 crore on weaker operating profit. Revenue grew 7% year-on-year to Rs 226 crore and EBITDA fell 28% to Rs 64 crore in the quarter ended June 2022. EBITDA margin contracted to 29% vs. 49% year-on-year.
The company reported a 0.9% year-on-year growth in profit to Rs 116.1 crore for the quarter ending June 2022, while group revenue stood at Rs 1,250.1 crore rose 5.8% quarter-on-quarter and 18.1% year-on-year. Constant currency revenue growth was 4.4% quarter-on-quarter and 15.8% year-on-year. Group and services order intake increased 18% year-on-year.
The private sector lender reported a profit of Rs 201 crore for the quarter ended June 2022, compared to a loss of Rs 459 crore in the same period last year, helped by an 82% drop in provisions. Net interest income rose 6% year-on-year to Rs 1,028 crore, but other income fell 6% to Rs 614 crore for the quarter. Advances grew 7% and deposits grew 6% year-on-year.
The chemicals company said profit after tax (PAT) rose 54% year-on-year to Rs 608 crore in the first quarter of FY23, buoyed by revenue and operating performance. Consolidated revenue increased 44% year-on-year to Rs 3,895 crore in the first quarter of FY23, and earnings before interest and tax (EBIT) increased 58% year-on-year to Rs 938 crore. rupees during the quarter.
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