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The market remains in the bear trap for the second successive session of the meeting of the Federal Open Market Committee (FOMC), because BSE Sensex fell nearly 500 points to 55,268 on July 26, dragged by selling in most sectors. Nifty50 dropped 147 points to 16,483.80.
Today’s results
Maruti Suzuki India, Tata Motors, Bajaj Finance, Biocon, Colgate-Palmolive, Aarti Drugs, CG Strength and Industry Solutions, Clean Science and Technology, International Coromandel, Dixon Technologies, Eih, Fino Payments Bank, First Financial Company India House, JK Lakshmi Semen, Latent View Analytics, Laurus Labs, Novartis India, Poonawalla Fincorp, Schaeffler India, Teamlease Services, Brewers United, VIP Industry, and Welspun India will be the focus before the June quarter income on July 27.
Larsen & Toubro
The Department of Engineering and Infrastructure posted consolidated profit after RS 1,702 CRORE tax, 45 percent strong growth during the previous year’s quarter. This reached the consolidated income of RS 35,853 Crore in Q1FY23, noted your growth of 22 percent with a strong execution witnessed in the infrastructure segment and driving a sustainable growth momentum in the IT & TS portfolio. The company gets an order worth RS 41,805 Crore at the group level during the quarter ended June 2022, registering a 57 percent growth of yoy.
Tata Power Company
The Power Plant and Distribution Company recorded a 90 percent growth of years-year-year in the consolidation pat before an extraordinary item at RS 884 Crore for the quarter ended June 2022, against RS 466 Crore in Q1FY22, due to an increase in performance in all businesses, especially profits from the company coal. Consolidated income grew by 48 percent to RS 14,776 Crore during the same period.
Wipro
IT service providers have announced a new five -year strategic involvement with Nokia, multinational electronics, networks, telecommunications, and leading consumers in the world. This new agreement was built based on a partnership which was originally set more than 20 years ago.
Aditya Birla Sun Life AMC
The asset management company reported a decrease in 33.6 percent of years-year-year in consolidated profit in RS 102.84 Crore for the quarter ended June 2022, disok with losses with other income, and warm topline growth. Revenue from operations grew 0.44 percent to RS 304.50 Crore compared to last year’s period. Qaaum Mutual Dana (average managed quarterly assets) witnessed the growth of 2 percent yoy to 2,81 Lakh Crore Rs in Q1FY23.
Axis bank
The Axis Bank and Citi Bank agreement has received approval from the Indian Competition Commission. Axis Bank has decided to acquire the Citibank Indian consumer business from Citibank N.A. and NBFC consumer business from Citicorp Finance (India).
United Spirit
The company reported a large growth of 419 percent year-to-year in consolidated profit in RS 261.10 Crore for the quarter ended June 2022, assisted by strong operating performance and topline growth. Income increased by 15.6 percent yoy to RS 7,131.3 Crore in the same period.
Kei industry
The company reported a 54 percent year-to-year growth in consolidated profit in RS 103.76 Crore for the June 2022 quarter, driven by strong operating performance and topline. Revenue during the quarter reached 1,565.41 crore hospitals, 54 percent growth compared to RS 1,017.56 Crore in the same period last year.
Ethos
The company recorded a significant growth of 1,430 percent in consolidated profit in RS 12.80 Crore for the June 2022 quarter against RS 0.84 Crore in the same period last year, led by a healthy operational performance and topline. Income at RS 173.56 Crore grew by 95 percent more than RS 88.94 Crore during the same period last year.
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