Stocks to Watch on Wednesday: The market prolonged its northward journey for the third consecutive session with the benchmark indices climbing 0.4 per cent, supported by banks, auto, and steel shares. The BSE Sensex rose 246 factors to 54,768, whereas the Nifty50 jumped 62 factors to 16,340.
Wipro, IndusInd Bank, Havells India, Ceat, Century Plyboards, Gland Pharma, Syngene International, Tata Communications, Hathway Cable & Datacom, JSW Ispat Special Products, Lloyds Steels Industries, Mastek, Agro Tech Foods, MIC Electronics, Newgen Software Technologies, Oracle Financial Services Software, Rane Engine Valve, Reliance Industrial Infrastructure, Sagar Cements, Sasken Technologies, and Som Distilleries & Breweries might be in focus forward of quarterly earnings on July 20.
Stocks in Focus Today
The FMCG main recorded an 11 per cent year-on-year development in revenue at Rs 2,289 crore for the quarter ended June 2022, with underlying quantity development of 6 per cent, however EBITDA margin contracted 100 bps YoY to 23.2 per cent amid unprecedented inflationary headwinds. Revenue grew by 20 per cent to Rs 14,272 crore throughout the identical interval YoY.
The cement maker registered a 25.5 per cent year-on-year decline in consolidated revenue at Rs 865.44 crore for the quarter ended June 2022 (Q2CY22), impacted by increased energy & gas price, and freight & forwarding bills. However, income elevated by 15.1 per cent YoY to Rs 8,033 crore for the quarter.
The firm mentioned the board has permitted second interim dividend of Rs 19.50 per fairness share on face worth of Re 1 per share for the monetary 12 months 2022-23. The dividend is amounting to Rs 7,250 crore. The document date for fee of dividend is July 27, 2022.
The Aditya Birla Group flagship firm mentioned the board has permitted a foray into B2B e-commerce platform for the constructing supplies phase with an funding of Rs 2,000 crore over the subsequent 5 years. This funding provides a brand new high-growth engine with clear adjacencies inside Grasim’s standalone companies as additionally that of its subsidiaries and affiliate firms.
ICICI Lombard General Insurance Company
The basic insurance coverage firm reported a 80 per cent year-on-year development in revenue at Rs 349 crore for the quarter ended June 2022. Total revenue grew by 3.8 per cent to Rs 3,978.3 crore in comparison with year-ago interval, and web premium earned jumped 10% to Rs 3,468 crore.
L&T Finance Holdings
The non-banking finance firm has clocked a 47.4 per cent year-on-year development in revenue at Rs 262 crore for the quarter ended June 2022, pushed by fall in impairment on monetary devices. Revenue from operations declined 2.1 per cent to Rs 2,988.40 crore throughout the identical interval YoY. The firm reported highest-ever quarterly retail disbursements at Rs 8,938 crore, up 148 per cent YoY.
The firm acquired order from Rajasthan Medical Education Society (Directorate of Medical Education), for provide, set up, operation and upkeep of CT Scan Center at Raj – MES Medical College at Churu, Rajasthan on public non-public partnership (PPP) foundation. As per the tender awarded, the corporate will arrange a CT Scan machine 64 slice scanner at MES Medical College. The tenure of contract might be 10 years.
The Tata Group firm recorded a 18.1 per cent year-on-year decline in revenue at Rs 67.5 crore for the quarter ended June 2022, impacted by increased uncooked materials price. However, income elevated by 16.5 per cent YoY to Rs 862.8 crore in Q1FY23 backed by 17.1 per cent development in home crop care enterprise and 51 per cent development in exports.
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