Sensex up 367 pts, Nifty holds 19,750; metal, IT stocks shine; FMCGs slide

Closing Bell on July 31: NTPC, Power Grid, Tata Steel, TCS, Tech M, JSW Steel, Maruti Suzuki, Tata Motors, Wipro, Bajaj Finserv, Infosys, HCL Tech, and IndusInd Bank were the top gainers

2:42 PM

ALERT:: Castrol Q1 net up 9%; stock flat

Castrol Q1 net profit was up 9.2 per cent at Rs 225.27 crore for the quarter ended June 2023 when compared with Rs 206.26 crore in the corresponding quarter a year ago. Total income rose 7.7 per cent YoY to Rs 1,352.31 crore.

2:32 PM

ALERT:: Heritage Foods Q1 net soars 84%; stock sheds 4%

Heritage Foods Q1 net profit soared 83.7 per cent to Rs 18.07 crore for the quarter ended June 2023 when compared with Rs 9.84 crore in the corresponding quarter a year ago. Total income was up 12 per cent YoY at Rs 916.08 crore.

2:23 PM

ALERT:: Adani Green Q1 net jumps 51%; stock flat

Adani Green Q1 net profit jumped 51 per cent to Rs 323 crore for the quarter ended June 2023 when compared with Rs 214 crore in the corresponding quarter a year ago. Total income increased by 41.3 per cent YoY to Rs 2,404 crore.

2:14 PM

ALERT:: Go Fashion Q1 net rises 8%; stock up 1%

Go Fashion (India) Q1 net profit rose by 8 per cent to Rs 26.30 crore for the quarter ended June 2023 when compared with Rs 24.40 crore in the corresponding quarter a year ago. Total income increased 15 per cent YoY to Rs 190.10 crore.

 

2:04 PM

As a first time earner, here are your most ideal investment options

Unless you are good at building your own stock portfolio, it is advisable to invest through mutual funds or index ETFs. READ MORE

1:55 PM

Anup Engg at new high on strong business outlook; zooms 152% so far in CY23

In Q1FY23, AEL's PAT jumped nearly four-fold to Rs 18.6 crore from Rs 5.2 crore, on account of strong revenue growth and improvement in margins. READ MORE

1:44 PM

ALERT:: HIL Q1 net dips 33%; stock jumps 2%

HIL reported a 33.3 per cent decline in Q1 net profit at Rs 57.86 crore for the quarter ended June 2023 when compared with Rs 86.73 crore in the corresponding quarter a year ago. Total income was down 7.2 per cent YoY at Rs 1,019.64 crore.

1:34 PM

Nazara Tech jumps 5% on strong Q1 results; stock up 20% so far in 2023

In the recently concluded quarter, Nazara's revenue from operations climbed 14 per cent YoY to Rs 254.4 crore. However, a sequential decline of 12 per cent was seen from Rs 289.32 crore in Q4FY23. READ MORE

1:23 PM

Bajaj Auto to set up first overseas manufacturing plant in Brazil

According to Executive Director Rakesh Sharma, the proposed plant is likely to come up in Manaus Special Economic Zone in northern Brazil and commence production in the next 12 months. READ MORE

1:13 PM

Asian Market Update:: Hang Seng, Nikkei rally around 1%

Source: Yahoo Finance

1:03 PM

Solar Energy Corp proposes JV with Reliance to supply green energy

India's renewable energy agency, Solar Energy Corp, has offered oil-to-telecoms conglomerate Reliance Industries a 51% stake in a joint venture to supply renewable power to the latter's refineries and other manufacturing plants, two sources familiar with the matter told Reuters. 

12:58 PM

ALERT :: Mumbai-based FMCG firm Onest files DRHP for IPO

>> The IPO with a face value of Rs 10 comprises of a fresh issue of Rs 77 crore and an offer for sale (OFS) of up to 3.25 million shares by Promoter and other selling shareholders.

>> The Offer is being made through the Book Building Process, wherein not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not more than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not more than 10% of the Offer shall be available for allocation to Retail Individual Investors

>> The proceeds from the fresh issue will be utilised to the extent of Rs 60 crore towards funding working capital requirements of the company and general corporate purposes.

12:49 PM

Q1FY24 earnings :: Infobeans reports net profit of Rs 3.46 crore vs Rs 11.63 crore YoY

12:42 PM

ACC hits 5-month high; rallies 14% in 6 days on robust Q1 results

Management expects Ebitda growth to sustain with further improvement expected due to various efficiency and operational initiatives. The volume during the quarter under review increased by 23.2 per cent YoY at 9.4 MioT supported by increase in blended cement and improvement in efficiency parameters. The company said it maintained market leadership across key markets. READ MORE

12:30 PM

ALERT :: Heineken lowers earnings forecast as beer consumption drops; UBL falls 2%

>> Heineken NV lowered its earnings guidance as consumers bought less beer after the brewer imposed major price increases, especially in markets like Vietnam.

>> Operating profit slumped 22% on an adjusted basis in the first half. For the full year, Heineken forecast stable to mid-single digit operating profit growth.

>> Previously Heineken had a forecast of mid- to high-single digit annual operating profit growth.

>> The Dutch brewer forecast cost inflation to ease next year, which will lift pressure to raise prices.

>> Revenue rose less than expected in the first half and beer volumes dropped more than expected. Last year, the company increased pricing by 14%, the most in at least a decade.

Alert :: UBL is owned by Heineken NV

Source: Bloomberg