As per the provisional closing data, the barometer index, the S&P BSE Sensex, advanced 145.29 points or 0.26% at 55,582.06. The Nifty 50 index rallied 33.95 points or 0.21% at 16,563.05.
The S&P BSE Sensex hit a record high of 55,680.75 while the Nifty hit an all-time high of 16,589.40 in intraday trade.
The broader indices ended in the red. The S&P BSE Mid-Cap index fell 0.181% while the S&P BSE Small-Cap index shed 0.57%.
Sellers outnumbered buyers. On the BSE, 1,168 shares rose and 2,124 shares fell. A total of 139 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 20,72,11,656 with 43,62,268 deaths. India reported 3,81,947 active cases of COVID-19 infection and 4,31,642 deaths while 3,14,11,924 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economic Data:
India's annual rate of inflation based on wholesale price Index (WPI) eased to 11.16% year-on-year in July 2021, from 12.07% in the previous month and steeply above (-0.25%) in July 2020. The high rate of inflation in July 2021 is primarily due to low base effect and rise in prices of crude petroleum & natural gas; mineral oils; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc. compared with the corresponding month of the previous year.
Earnings Impact:
eClerx Services hit an upper circuit limit of 5% at Rs 2281 after the company reported strong Q1 results and the board approved share buyback plan worth upto Rs 303 crore. The board of eClerx has approved a proposal to buyback upto 9,46,875 equity shares of the company at a price not exceeding Rs 3,200 each, aggregating to Rs 303 crore. The buyback price of Rs 3,200 each is at a premium of 47.30% compared with the scrip's closing price of Rs 2,172.40 per share recorded on Friday. The company reported a consolidated net profit of Rs 91.3 crore in Q1 FY22 as against a net profit of Rs 51.8 crore in Q1 FY21, an increase of 76.4% YoY. Operating revenue for the quarter ended 30 June 2021 was Rs 486.3 crore as compared with Rs 336.6 crore in the corresponding period last year, YoY increase of 44.5%. In USD terms, operating revenue increased by 44.3% to $64.7 million as compared to $44.8 million in the corresponding period last year.
Vodafone Idea tumbled 5.54%. The telecom company reported a consolidated net loss of Rs 7,319.1 crore in Q1 FY22 as against a net loss of Rs 25,460 crore in Q1 FY21. Gross revenue declined by 14.1% to Rs 9,152.3 crore in Q1 FY22 as against Rs 10,659.30 crore in Q1 FY21. Revenue for the quarter declined 4.7% Q-o-Q, on account of slowdown in economic activities due to lockdown or restrictions in most of the districts during the severe second wave of COVID. On a reported basis, EBITDA for the quarter declined 15.9% Y-o-Y to Rs 3,707.7 crore, with EBITDA margins at 40.5%. The company had reported an EBITDA of 4,408.7 crore in Q4 FY21. Capex spend for Q1FY22 was Rs 940 crore vs Rs 1540 crore in Q4FY21.
Spicejet skid 4.45% after the company's consolidated net losses widened to Rs 731.12 crore in Q1 June 2021 (Q1 FY22), higher than net loss of Rs 600.52 crore in Q1 June 2020 (Q1 FY21). Consolidated net sales surged 121.20% to Rs 1,083.24 crore in Q1 FY22 as against Rs 489.60 crore in Q1 FY21. Pre-tax loss was at Rs 731.12 crore in Q1 FY22 as against a pre-tax loss of Rs 600.52 crore in Q1 FY21.
Petronet LNG fell 0.53%. The company's consolidated net profit soared 34.07% to Rs 670.06 crore on 76.05% increase in revenue from operations to Rs 8,597.90 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21). Profit before tax jumped 30.86% to Rs 884.88 crore in Q1 FY22 as against Rs 676.16 crore in Q1 FY21.
Amara Raja Batteries tumbled 1.47%. The battery maker posted a 97.7% rise in standalone net profit to Rs 123.94 crore on 63.8% increase in revenue from operations to Rs 1,885.86 crore in Q1 FY22 over Q1 FY21. The auto ancillary company's profit before tax jumped 99.6% to Rs 167 crore in Q1 FY22 from Rs 83.68 crore in Q1 FY21
Burger King India fell 1.73%. The company reported net loss of Rs 44.35 crore in Q1 FY22, lower than net loss of Rs 80.45 crore in Q1 FY21. The company had recorded a loss of Rs 25.94 crore in Q4 FY21. Net sales surged 288.9% to Rs 149.73 crore in the first quarter as against Rs 38.50 crore reported in the same period year. Net sales declined 23.6% in Q1 FY22 over Q4 FY21.
Glenmark Pharmaceuticals rose 0.95%. The drug company posted a 20.7% rise in consolidated net profit to Rs 306.53 crore on 27.6% increase in net sales to Rs 2,946 crore in Q1 FY22 over Q1 FY21. Consolidated profit before tax rose 24% to Rs 443.55 crore in Q1 FY22 over Q1 FY21. EBITDA grew by 20% to Rs 573.6 crore in the quarter ended 30 June 2021 as against Rs 478.1 crore in the previous corresponding quarter.
Future Retail fell 3.26% on BSE after the company posted a consolidated net loss of Rs 1,147.13 crore in Q1 FY22, higher than net loss of Rs 561.95 crore in Q1 FY21. The company's net sales increased 4.2% to Rs 1,415.67 crore in Q1 FY22 as against Rs 1,358.11 crore in Q1 FY21. Future Retail's interest expense increased 27.3% to Rs 354.27 crore in Q1 FY22 over Q1 FY21.
Info Edge (India) rose 0.55%. The company reported 21.3% rise in standalone net profit to Rs 100.96 crore on 14.1% increase in net sales to Rs 319.72 crore in Q1 FY22 over Q1 FY21. Info Edge recorded billing of Rs 314.20 crore in Q1 June 2021 compared with Rs 188.60 crore in Q1 June 2020, up by 66.6%. The deferred sales revenue (amount collected in advance) as at 30 June 2021 is Rs 506.1 crore, up by 36.2% over the balance as at 30 June 2020. Operating EBITDA has decreased by 4.7% from Rs 104.6 crore in Q1 FY21 to Rs 99.7 crore in Q1 FY22. Profit before tax in Q1 FY22 stood at Rs 129.02 crore, up by 15% from Rs 112.17 crore in Q1 FY21.
New Listings:
Shares of Windlas Biotech were currently trading at Rs 406.85, at a discount of 11.55% to the issue price of Rs 460 per share. The scrip was listed at Rs 439 per share, a discount of 4.57% to the initial public offer (IPO) price. So far, the stock has hit a high of Rs 452.10 and a low of Rs 407.25. On the BSE, over 2.99 lakh shares of the company were traded in the counter. The initial public offer of Windlas Biotech received bids for 13.78 crore shares as against 61.36 lakh shares on offer, according to stock exchange data. The issue was subscribed 22.47 times.
Shares of Krsnaa Diagnostics were currently trading at Rs 990.15, at a premium of 3.79% to the issue price of Rs 954 per share. The scrip was listed at Rs 1025 per share, a premium of 7.44% to the initial public offer (IPO) price. So far, the stock has hit a high of Rs 1099.50 and a low of Rs 961.45. On the BSE, over 4.07 lakh shares of the company were traded in the counter. The initial public offer of Krsnaa Diagnostics received bids for 45.80 crore shares as against 71.12 lakh shares on offer, according to stock exchange data. The issue was subscribed 64.40 times.
Shares of Devyani International were currently trading at Rs 123.25, a premium of 36.94% compared with the issue price of Rs 90 per share. The scrip was listed at Rs 141 per share, at a premium of 56.67% to the initial public offer (IPO) price. So far, the stock has hit a high of Rs 141.05 and a low of Rs 120.75. On the BSE, over 65.84 lakh shares of the company were traded in the counter. The initial public offer of quick-service restaurant chain (QSR) operator Devyani International received bids for 1,313.79 crore shares as against 11.25 crore shares on offer, according to stock exchange data. The issue was subscribed 116.71 times.
Shares of Exxaro Tiles were currently trading at Rs 132.30, at a premium of 10.25% compared with the issue price of Rs 120 per share. The scrip was listed at Rs 126 per share, at a premium of 5% to the initial public offer (IPO) price. So far, the stock has hit a high of Rs 132.30 and a low of Rs 126. On the BSE, over 7.37 lakh shares of the company were traded in the counter. The initial public offer of vitrified tile manufacturer Exxaro Tiles received bids for 25.96 crore shares as against 1.14 crore shares on offer, according to stock exchange data. The issue was subscribed 22.68 times.
Global Markets:
European stocks fell across the board while most Asian stocks declined on Monday, 16 August 2021, as investors reacted to the release of economic data. Meanwhile, South Korea stock exchange was closed on Monday for a holiday.
Market participants closely monitored the potential geopolitical implications of the sudden collapse of the Afghanistan government. Taliban insurgents over the weekend pushed their frontlines into the capital city of Kabul after a succession of shocking battlefield reversals, spurred by the exodus of U.S. and coalition forces.
In Asia, retail sales in China rose 8.5% in July as compared with a year ago, according to official data released Monday. Meanwhile, industrial production grew 6.4% in July.
Japan's GDP rose 0.3% in the second quarter as compared with the previous three months, when it contracted 0.9%, according to official preliminary estimates released Monday.
In US, the Dow Industrial and S&P 500 edged up to closing records on Friday, buoyed by a climb in Walt Disney shares, but a sharp drop in consumer sentiment kept gains in check.
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