The company's revenue from operations rose 251% to Rs 853 crore in Q1FY23
CLOSING BELL: Among sectors, the Nifty IT index slipped 0.9 per cent, while the Nifty Metal index advanced 1.6 per cent
So far in August, the stock has gained 16 per cent, after the company reported healthy growth in topline performance, backed by volume gains despite a market slow down due to inflationary conditions.
The company not experiencing a slowing down in public and private capex spending; however, concerned about global headwinds impacting demand which could result in a slowdown in Capex spending.
It has also zoomed 70 per cent in the past six months, as compared to 0.12 per cent decline in the benchmark index
The company reported 28.4 per cent growth in Q1FY23 consolidated net at Rs 191.47 crore, and total income rose by 41.2 per cent YoY to Rs 1,100.33 crore on a YoY basis.
The performance for the quarter was largely led by improved soda ash realisations across all geographies, which led strong top line growth for the quarter, said ICICI Securities.
Stocks to watch today: Coal India and Tata Consumer Products will report their June quarter results (Q1FY23) on Wednesday, August 10; NTPC plans to fundraise Rs 12,000 crore through NCDs.
Its ability to maintain margins will depend on the raw material cost basket
Total expenses in Q1FY23 stood at Rs 4,067.53 crore as against Rs 5,261.14 crore in the year-ago period
Of the total 12, three lenders -- SBI, PNB and Bank of India -- reported fall in their profits ranging from 7%-70%
Adani Group's entry in sector creates competition but doesn't change sector's plans radically, he says
Q1 PAT dropped by 8.55 per cent from ₹4,156.44 crore in the preceding quarter
The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115
SBI Q1: The country's biggest state-owned lender reported a net profit of around Rs 6,070 crore (down 7 per cent year-on-year) with the miss being driven by 13 bps sequential decline in NIM
CLOSING BELL: Coal India, M&M, Bajaj Finserv, HDFC Bank, Hindalco, Axis Bank, NTPC, L&T, HDFC, Dr Reddy's Labs, RIL, IndusInd Bank, and Apollo Hospitals were the top gainers on the 50-pack index today
So far in this calendar year, BPCL and HPCL have tumbled 13 per cent, and 14 per cent, respectively. However, frontline indices Nifty50 and the S&P BSE Sensex have remained flat during the same period
Paytm and Nykaa have logged smart gains gains in trade so far on Monday post Q1 results, while SBI and BPCL declined notably. Going ahead these are the key levels to be watched on these stocks.
Gradual improvement in margin, steady operational efficiency coupled with adequate provision buffer to aid earning momentum, analysts said.
Stocks to watch today: Bharti Airtel and Adani Ports will report their June quarter results (Q1FY23); Titan saw 13-fold jump in net profit to Rs 790 crore in Q1FY23.