CLOSING BELL: Equity markets settled near the low point of the day as investors chose to stay on the sidelines ahead of the US Federal Reserve's monetary policy outcome on Wednesday
Bajaj Auto Q1 review: Auto major Bajaj Auto clocked 8.3 per cent rise year-on-year (YoY) in total revenue from operations to Rs 8,004.97 crore in June quarter results (Q1FY23) on a standalone basis.
Analysts, on average, expect the revenue to fall up to 7 per cent quarter-on-quarter (QoQ) to Rs 7,416 crore in Q1FY23.
Stocks to watch today: Asian Paints, Bajaj Auto will report their June quarter results (Q1FY23) on Tuesday, July 26; Lupin received approval from USFDA to market medication for high blood pressure.
In Q4FY22, Bajaj Auto recorded a net profit of Rs 1,468.95 crore, up over 250 crores from the Q3FY22
Vedanta, for instance, is majority-owned by Vedanta Resources, led by billionaire Anil Agarwal
Analysts expect 2Ws to reflect strong volumes in Q2FY23 amid strong pent-up demand, and improved mobility in June quarter 2022 (Q1FY23)
Witnessing a robust demand for its electric scooter Chetak, Bajaj Auto plans to scale up the sales infrastructure for the model to 75 locations across the country in the current fiscal.
In a regulatory filing, the Pune-based company said the buyback initiative has begun with effect from July 4
The company's total two-wheeler sales grew 2 per cent year on year (YoY) to 315,948 units, mainly due to a 23 per cent YoY jump in exports at 190,865 units during the month.
Two-wheeler exports last month grew 23 per cent to 1,90,865 units as compared to 1,54,938 vehicles in the year-ago period
CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index
The company intends to buy back 5.43 million shares, aggregating up to 1.88 per cent of its paid-up share capital via the open market at Rs 4,600 per share.
Stocks to watch today: Bajaj Auto approved buyback of shares worth up to Rs 2,500 crore; Moody's upgraded Tata Steel's outlook to 'positive' from 'stable'
Two-wheeler giant Bajaj Auto to take back 5.43 mn shares at Rs 4,600 a piece
Fall in raw material prices, low base, and normal monsoon are other positives
On June 14, the company's board had deferred a decision on its proposed share buyback citing further deliberations were required on the proposal
Hero MotoCorp, Bajaj Auto and Eicher Motors need to cross their significant hurdles with aggressive volume for further gains to emerge.
CLOSING BELL: Maruti Suzuki, Eicher Motors, Hero MotoCorp, Bajaj Auto, M&M, and Tata Motors were the top Nifty gainers, advancing between 3.5 per cent and 6.7 per cent
Stocks to Watch today: The US FDA has issued Glenmark Pharma form 483 with 6 observations for its Baddi Unit, which was inspected between June 13-22, 2022.