The Bears retained their dominance at Dalal Street for the fourth consecutive session on May 11, regardless of constructive sentiment in world counterparts. The promoting in expertise, auto, FMCG shares, L&T, and Bajaj Finance weighed down the market, although banks and HDFC capped losses. The benchmark indices recouped round one p.c loss from the day’s low with the Nifty50 strongly defending the psychological 16,000 mark. The BSE Sensex fell 276 factors to 54,088, whereas the Nifty50 declined 73 factors to 16,167.
Sushant Bhansali, CEO, Ambit Asset Management, stated: “The pressure of increased inflation on corporate earnings is quite visible since the last 2 quarters and is expected to continue for another 1-2 quarters. As a result, earnings are getting downgraded more than being upgraded by markets. The mix of earnings downgrade along with a reversal of the interest rate cycle is increasing volatility in the markets. We believe that we are in the consolidation phase after the big bull run in the last two years, a much-needed breather. Profit booking alongside revisions in asset allocation will drag the markets down while fresh flows will push the markets up during this phase. The consolidation phase shall continue for a few more months depending to a large extent on how inflation plays out globally.”
Larsen & Toubro, Tata Motors, RBL Bank, Siemens, Aditya Birla Capital, Anupam Rasayan India, Apollo Tires, Coforge, Greaves Cotton, Gujarat State Petronet, Honeywell Automation India, Poonawalla Fincorp, Ujjivan Small Finance Bank, Windlas Biotech, Avanti Feeds, Brigade Enterprises, CreditAccess Grameen, Genus Power Infrastructures, HP Adhesives, ICRA, Jammu & Kashmir Bank, JMC Projects, Lumax Auto Technologies, Matrimony.com, Mindspace Business Parks REIT, South Indian Bank and Spencers Retail will launch their quarterly earnings on May 12 .
The firm reported a 55.4 p.c year-on-year decline in consolidated revenue at Rs 111 crore for the quarter ended March 2022, impacted by larger energy & gas, enter price, and distinctive loss. Revenue grew by 6 p.c to Rs 2,264.2 crore as in comparison with the year-ago interval.
The liquefied pure gasoline importer clocked a 24 p.c year-on-year progress in consolidated revenue at Rs 791 crore in Q4FY22, pushed largely by sturdy topline. Revenue grew by 47.3 p.c to Rs 11,160.4 crore in comparison with year-ago interval.
Lakshmi Machine Works
The firm recorded a wholesome 218 p.c year-on-year progress in consolidated revenue at Rs 82.72 crore in quarter ended March 2022, pushed by sturdy topline and working earnings. Revenue elevated by 46 p.c to Rs 998.5 crore in comparison with identical interval final yr.
Life Insurance Corporation of India acquired 2.03 p.c fairness stake within the firm through open market transactions. With this, its shareholding within the firm stands elevated to six.05 p.c, up from 4.02 p.c earlier.
The building firm recorded a 97.4 p.c year-on-year progress in consolidated revenue at Rs 234 crore in quarter ended March 2022 regardless of weak working earnings that was hit by larger enter price. Profitability was supported by complete stake sale in subsidiary NCC Virag Urban Infrastructure. Revenue grew by 23.5 p.c to Rs 3,477 crore in comparison with the identical interval final yr.
Subsidiary Novelis Inc recorded a 21 p.c year-on-year progress in web earnings at $217 million in March 2022 quarter pushed by topline and decrease tax price. Net gross sales elevated 34 p.c to $4.8 billion in comparison with the year-ago interval, primarily pushed by larger common aluminum costs and native market premiums. But adjusted EBITDA at $431 million fell 15 p.c YoY primarily as a consequence of short-term operational price challenges.
The energy transmission & distribution constructions producer clocked a 177 p.c year-on-year progress in revenue at Rs 25.12 crore in quarter ended March 2022 led by larger working earnings and margin efficiency (up 260 bps YoY). Revenue grew by 11 p.c to Rs 552.65 crore and EBITDA elevated by 44 p.c to Rs 61.67 crore in comparison with year-ago interval. Order influx in Q4FY22 stood at Rs 271 crore, and the closing order e book as on March 2022 stood at Rs 2,115 crore.
The actual property developer in partnership with Bain Capital and Ivanhoé Cambridge will develop a next-generation inexperienced digital infrastructure platform. The platform will collectively make investments round $1 billion to create ~30 million sq. toes of working property to serve India’s digital economic system.
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