Nifty, Sensex Bounce Back On the Eve of Fed Policy Meeting – Wednesday Closing Report
Moneylife Digital Team 27 July 2022
On Wednesday, the indices opened flat and ended with gain. On the National Stock Exchange (NSE), advance decline ratio was at 1.29 indicating positive sentiment among investors. The trend of the major indices on Wednesday’s trading are given in the table below:
 
 
On NSE, 35 securities advanced and closed at new 52 week high whereas 29 securities sank to close at their new 52-week lows. All sectorial indices ended in green today indicating diversified rally in the market. Nifty Pharma and Nifty Healthcare were the biggest gainers while Nifty Consumer Durable and Nifty Auto gained the least. The broader market indices, BSE Midcap and BSE Small cap could not match the gains of their larger peers and settled with 0.9% and 0.4% gain respectively.
 
DGCA has restricted Spice Jet to 50% of departures under summer schedule for eight weeks to control trend of incidents.
 
Bharat Forge has signed binding agreement with Taiga India to manufacture high speed passenger trains. TCS closed higher after receiving order from Marks& Spencer.
 
Cabinet has cleared Rs 1.64 lakh crore revival package for BSNL to improve the quality of BSNL services.
 
In quarterly earnings, Tata Motors Q1FY22-23 revenue was up by 8.3% to Rs 71,935 crore and the loss was at Rs 5,006 crore as compared to loss of Rs 4,323 crore on a y-o-y basis. 
 
Dixon Technologies Q1FY22-23 revenue jumped 52.9% to Rs 2,855 crore and profit more than doubled to Rs 45 crore on a y-o-y basis.
 
Mold-Tek Packaging’s Q1FY22-23 revenue jumped 55.4% to Rs 207.8 crore and profit leapt 79.6% to Rs 21.7 crore on a y-o-y basis. 
 
Bajaj Finance’s Q1FY22-23 net interest income (NII) jumped 47.9% to Rs 6,638 crore and profit more than doubled to Rs 2,596 crore on a y-o-y basis. Net NPA declined by 19 bps on q-o-q basis.
 
Laurus Labs Q1FY22-23 revenue went up by 20.4% to Rs 1,539 crore and the profit grew by 4.1% to Rs 251 crore on a y-o-y basis. The margin contracted by 150 bps to 29.5%.
 
Maruti’s Q1FY22-23 revenue jumped 49.1% to Rs 26,500 crore and the profit more than doubled to Rs 1,012 crore on a y-o-y basis. The margin expanded by 260 bps to 7.2%.
 
Colgate Palmolive’s Q1FY22-23 revenue grew by 2.7% to Rs 1,197 crore and the profit declined by 10.1% to Rs 209.7 crore on a y-o-y basis. The margins contracted by 330 bps to 27.2%.
 
Coromandel International’s Q1FY22-23 revenue jumped 56.4% to Rs 5,729 crore and net profit went up by 48% to Rs 499 crore on a y-o-y basis. 
 
CG Power’s Q1FY22-23 revenue jumped by 58.6% to Rs 1,665 crore and profit more than doubled to Rs 129.9 crore on a y-o-y basis. The stock ended in red.
 
Gujarat Fluorochemical’s Q1FY22-23 revenue jumped by 46.3% to Rs 1,334 crore and the profit almost doubled to Rs 306 crore on a y-o-y basis. The stock closed 3% down.
 
V-Guard’s Q1FY22-23 revenue leapt 79.6% to Rs 1,020 crore and profit more than doubled to Rs 53.4 crore on a y-o-y basis. The stock closed more than 2% down.
 
United Spirits ended 6% down after reporting Q1FY22-23 earnings. Its revenue jumped 34.3% to Rs 2,169 crore and the profit more than tripled to Rs 210 crore on a y-o-y basis.
 
Shoppers Stop’s Q1FY22-23 revenue was up at Rs 948 crore from Rs 205 crore and profit was at Rs 22 crore as compared to loss of Rs 104.8 crore in the same quarter last year. The stock closed more than 7% higher.
 
Tanla Platforms declined 19.9% on second day after reporting poor Q1FY22-23 earnings. 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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