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StockAxis

StockAxis Weekly Newsletter July 23, 2022

Equity benchmark indices Post Longest Winning Streak In 2022.

Indian Markets

Equity benchmark indiceslogged gains aided by PSU Banks, I.T & Banks Stocks. S&P BSE Sensex grew (+4.3%) to 56,072.23 in the week ending July 23rd while the NSE Nifty50 grew (+4.2%) to 16,719.45.

On the sectoral front, only NiftyPSUBank (+7.71%), NiftyIT (+6.36%), NiftyBank (+5.93%), NiftyMetal (+5.45%), NiftyRealty (+4.64%), outperformed the NSE Nifty50 index and NiftyFMCG (+2.42%), NiftyAuto (+2.20%), NiftyMedia (+2.00%), NiftyPharma (-0.90%), underperformed the index.

The India VIX was -5.4% to 16.65.

FIIs/DIIs Daily Cash Market Activity (INR. in Crores)

Date FIIs DIIs
18-07-2022 +156.08 +844.33
19-07-2022 +976.40 -100.73
20-07-2022 +1,780.94 -230.22
21-07-2022 +1,799.32 -312.29
22-07-2022 -675.45 +739.38

News Update

HDFC Bank: The bank has reported a rise of 18.97% in its net profit at Rs 9,195.99 crore for the quarter under review as compared to Rs 7,729.64 crore for the same quarter in the previous year. Total income of the bank increased by 13.02% at Rs 41,560.27 crore for Q1FY23 as compared Rs 36,771.47 crore for the corresponding quarter previous year.

Wipro: The company has reported a rise of 22.86% in its net profit at Rs 2,216.60 crore for the quarter under review as compared to Rs 1,804.10 crore for the same quarter in the previous year. Total income of the company increased by 15.82% at Rs 16,645.30 crore for Q1FY23 as compared Rs 14,371.80 crore for the corresponding quarter previous year.

Gland Pharma: Net sales declined -25.74% to Rs. 8568.98 million from Rs. 11539.00 millions.The Company to register a -34.57% fall in the net profit for the quarter ended June 2022.The Operating Profit of the company witnessed a decrease to 3445.95 millions from 4981.41 millions.

Bharat Electronics: The company has reported around 39-fold jump in its net profit at Rs 431.49 crore for the quarter under review as compared to Rs 11.15 crore for the same quarter in the previous year. Total income of the company increased by 94.88% at Rs 3,272.52 crore for Q1FY23 as compared Rs 1,679.25 crore for the corresponding quarter previous year.

Zydus Lifesciences: Zydus Lifesciences’subsidiaryZydus Worldwide DMCC has received final approval from the United States Food and Drug Administration (USFDA) to market Efinaconazole Topical Solution, 10%. (US RLD: Jublia).

Bhansali Engineering Polymers: The company has reported a fall of 38.37% in its net profit at Rs 47.53 crore for the quarter under review as compared to Rs 77.12 crore for the same quarter in the previous year. However, total income of the company increased by 45.38% at Rs 344.25 crore for Q1FY23 as compared Rs 236.80 crore for the corresponding quarter previous year.

HDFC Life Insurance Company: The company has reported a rise of 20.82% in its net profit at Rs 365.29 crore for the quarter under review as compared to Rs 302.35 crore for the same quarter in the previous year. However, total income of the company decreased by 60.08% at Rs 5,830.24 crore for Q1FY23 as compared Rs 14,604.31 crore for the corresponding quarter previous year.

Krsnaa Diagnostics: Has received tender from Rajasthan Medical Education Society (Directorate of Medical Education), Government of Rajasthan for Supply, Installation, Operation and Maintenance of CT Scan Center at Raj - MES Medical College located at Churu, a City in Rajasthan on Public Private Partnership (PPP) basis. The tenure of contract will be 10 years from issuance of Letter of Award. The Tender has been awarded to the company as a L1 bidder.

Rallis India: The company has reported 18.14% fall in its net profit at Rs 67.47 crore for the quarter under review as compared to Rs 82.42 crore for the same quarter in the previous year. However, total income of the company increased by 15.96% at Rs 866.80 crore in Q1FY23 as compared Rs 747.49 crore for the corresponding quarter previous year.

ICICI Lombard General Insurance Company: The company has reported 79.63% rise in its net profit at Rs 349.03 crore for the quarter under review as compared to Rs 194.30 crore for the same quarter in the previous year. Total income of the company increased by 3.84% at Rs 3,978.29 crore in Q1FY23 as compared Rs 3,831.24 crore for the corresponding quarter previous year.

Tata Communications: The company has reported a rise of 7.75% in its net profit at Rs 359.62 crore for the quarter under review as compared to Rs 333.75 crore for the same quarter in the previous year. Total income of the company increased by 13.42% at Rs 1,979.38 crore for Q1FY23 as compared Rs 1,745.20 crore for the corresponding quarter previous year.

Hatsun Agro Product: Company has crossed the Rs 2,000 crore sales mark during the quarter ending June 30, 2022 (Q1FY23) for the first time. Strong sales recovery in the domestic market post the COVID-19 pandemic with good summer sales led to highest ever quarterly sales volume.The company has commenced exports of its popular Arun ice cream brand to Singapore and Maldives in the last quarter. It has plans to further widen the international reach of Arun ice creams.

AU Small Finance Bank: Company has reported results for first quarter ended June 30, 2022.The bank has reported 31.83% rise in its net profit at Rs 267.87 crore for the quarter under review as compared to Rs 203.20 crore for the same quarter in the previous year. Total income of the bank increased by 26.21% at Rs 1,979.35 crore in Q1FY23 as compared Rs 1,568.25 crore for the corresponding quarter previous year.

Ceat: The company has reported a fall of 87.22% in its net profit at Rs 2.55 crore for the quarter under review as compared to Rs 19.95 crore for the same quarter in the previous year. However, total income of the company increased by 47.55% at Rs 2,805.84 crore for Q1FY23 as compared Rs 1,901.61 crore for the corresponding quarter previous year.

PVR: The company has reported net profit at Rs 58.85 crore for the quarter under review as compared to net loss of Rs 215.52 crore for the same quarter in the previous year. Total income of the company increased by over 12-fold at Rs 983.48 crore for Q1FY23 as compared to Rs 80.99 crore for the corresponding quarter previous year.