The market recovered its losses from the previous day and ended the tumultuous session, the crucial session for the Reserve Bank of India’s monetary policy, on a good note. The market closed higher thanks to a few banking and financial services, FMCG, and IT stocks. The Nifty50 increased by barely 15 points to 17,397 while the BSE Sensex increased by 89 points to 58,388.

Results Today

the following companies: Bharti Airtel, Adani Ports, and Special Economic Zone, Power Grid Corporation of India, NALCO, AstraZeneca Pharma India, Chemical Speciality Chemicals, City Union Bank, Delhivery, Dhanlaxmi Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Housing & Urban Development Corporation, JK Tyre & Industries, Jaypee Infratech, Vedant Fashions, Samvardhana Motherson International,

Stocks in News

State Bank of India

The largest lender in the nation recorded a 6.7% year-over-year fall in profit for the quarter ended in June FY23 at Rs 6,068 crore, however, lower provisions helped to offset this. For the quarter ended in June FY23, net interest income increased by 12.87 percent year over year to Rs 31,196 crore, but operational profit fell by 32.83 percent to Rs 12,753 crore and other income fell by 80 percent to Rs 2,312 crore. At the same time, loan loss provisions decreased by 15.14% to Rs 4,268 crore.

Bharat Petroleum Corporation

Due to an increase in input costs, the oil marketing company reported a standalone loss of Rs 6,290.80 crore for the quarter ended June FY23 as opposed to a profit of Rs 3,192.58 crore in the same period last fiscal. For the June FY23 quarter, operating revenue increased by 54% year over year to Rs 1.38 lakh billion. The average gross refining margin (GRM) of the Corporation for the quarter was $27.51 per barrel, compared to $4.12 per barrel in Q1FY22, as the benefit of greater GRM was offset by the reduced marketing margins of several petroleum products.

Hindustan Petroleum Corporation

The erosion in the marketing margin on motor fuels and LPG contributed to the oil retailer’s significant loss for the quarter ended in June FY23 of Rs. 10,197 crores, compared to a profit of Rs. 1,795 crores for the same time last year. To reach Rs 1.22 lakh crore during the same period, revenue increased by 56% YoY.

Marico

For the June FY23 quarter, the FMCG company recorded a 3.3 percent YoY growth in consolidated profit at Rs 377 crore, helped by improved operating results. EBITDA increased by 9.77% to Rs 528 crore from the same quarter last year, while revenue grew by 1.3% YoY to Rs 2,558 crore.

One 97 Communications

The operator of a digital payment platform Paytm reported a combined loss of Rs 645.4 crore for the three months ended in June FY23, widening from a loss of Rs 381.9 crore in the corresponding period of the previous fiscal. During the same year, operating revenue increased by 88.5% to Rs 1,679.60 crore.

FSN E-Commerce Ventures

The top line and operating performance of the cosmetics-to-fashion retailer helped the Nykaa brand operator raise its consolidated profit by 42.24 percent year over year to Rs 5.01 crore for the quarter ended June FY23. In comparison to the same quarter last year, operating revenue for the June FY23 quarter increased by 40.56% to Rs 1,148.4 crore. For the quarter ended June FY23, the consolidated gross merchandise value (GMV) increased 47% year over year to Rs 2,155.8 crore.

Affle India

For the quarter that ended in June of FY23, the company had broad-based growth in both CPCU business and non-CPCU business across India and overseas markets, leading to a 93.5% YoY increase in profit after tax of Rs 55.2 crore. In comparison to the same time last year, revenue increased by 128% YoY to Rs 347.5 crore, and EBITDA increased by 96.0% to Rs 68.7 crore.

Birlasoft

On August 4, Axis Mutual Fund purchased 5.08 lakh shares of the company through open market transactions. As a result, its ownership in the company rose from 4.94 percent to 5.12 percent.

Raymond

In contrast to the loss of Rs 157 crore during the same period last fiscal year, the company reported a consolidated profit of Rs 81 crore for the quarter ending June FY23. The second COVID wave had an impact on the numbers from the previous year. Revenue for the June FY23 quarter increased by 104% YoY to Rs 1,754 crore.

Maruti Suzuki India

Through open market transactions, Life Insurance Corporation of India sold 60.88 lakh equity shares, or 2.015 percent of the nation’s largest automaker. As a result, LIC’s ownership interest in the company dropped from 6.22 percent to 4.20 percent.

SJVN

Through an August 4 e-RA, the corporation has acquired the entire quoted capacity of a 200 MW solar project for Rs 2.90 per unit on a construct, own, and operate (BOO) basis. After Maharashtra State Electricity Distribution Company Limited issues a letter of intent, the power purchase agreement must be signed (MSEDCL). Through the EPC contract, SJVN shall create the ground-mounted solar plant anyplace in Maharashtra.

#airtelstock #sbisharetoday #paytmnews #bhartishare

Read more Business, Entertainment, Social, Politics , Real Estate , Finance , Sports