Nifty, Sensex Record Strong Gains – Friday Closing Report
Moneylife Digital Team 29 July 2022
We had mentioned in Thursday’s closing report that Nifty and Sensex rise on global cues. On Friday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), advance decline ratio was at 2.06 indicating wider positive closing of stocks.
 
The trend of the major indices on Friday’s trading are given in the table below:
 
 
On NSE, 61 securities advanced and closed at new 52 week high whereas 19 securities sank to close at their new 52-week lows. All sectorial indices barring Nifty PSU Bank ended in green with Nifty Metal and Nifty Oil& Gas being the biggest gainers. The broader market indices once again underperformed their larger peers with BSE Midcap and BSE Small cap gaining 1% and 1.3% respectively.
 
According to Power Ministry, PM will launch revamped scheme of power sector of over Rs 3 lakh crore in a 5-year period. The scheme is aimed at improving operational efficiencies, financial sustainability of discoms and power departments.
 
In corporate news, Shilpa Medicare’s Dabaspet Unit has been cleared by US FDA. HDFC Life will issue 3.58 crore shares to HDFC at Rs 558.74 per share on preferential basis. The stock closed 4.5% higher.
 
In quarterly results, NTPC’s Q1FY22-23 revenue jumped 47% to Rs 38,349 crore and the profit was up by 16.9% to Rs 3,676 crore on a y-o-y basis. The margin contracted by 490 bps to 23.7%.
 
Cipla’s Q1FY22-23 revenue declined marginally by 2.3% to Rs 5,375 crore and the profit declined 4% to Rs 686 crore on a y-o-y basis.
 
Indian Oil Corporation’s Q1FY22-23 revenue was up by 31.8% to Rs 2.24 lakh crore and the company reported net loss as compared to profit of Rs 6,021 crore in the same quarter last year.
 
Heritage Foods Q1FY22-23 revenue was up by 26.7% to Rs 821 crore and the profit saw huge decline of 74.3% to Rs 7.76 crore on a y-o-y basis.
 
Exide Industries Q1FY22-23 revenue jumped 56.8% to Rs 4,022 crore and the profit was up multifold to Rs 202 crore on a y-o-y basis.
 
Route Mobile’s Q1FY22-23 revenue was up 16.5% to Rs 729 crore and the profit jumped 52% to Rs 69 crore on a y-o-y basis.
 
Sundaram Fastener’s Q1FY22-23 revenue jumped 26.8% to Rs 1,410 crore and the profit was up by 13.7% to Rs 136 crore on a y-o-y basis.
 
HDFC’s Q1FY22-23 net interest income (NII) was up by 7.7% and the profit grew by 22.3% to Rs 3,669 crore on a y-o-y basis.
 
Sun Pharma’s Q1FY22-23 revenue was up by 10.7% to Rs 10,762 crore and the profit jumped 42.7% to Rs 2,061 crore on a y-o-y basis. The stock closed 5% higher.
 
Ashok Leyland’s Q1FY22-23 revenue more than doubled to Rs 7,223 crore and the profit was at Rs 68 crore compared to loss of Rs 282 crore on a y-o-y basis. The stock closed 2% higher.
 
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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