Stocks in Focus Today: The market remained in bear’s control for the fourth consecutive session with the Nifty50 closing below 20-day exponential moving average (15,950) on July 14, following weakness in global counterparts after US inflation jumped to 9.1 per cent in June, a 41-year high. Technology, select banking & financial services, and FMCG stocks weighed down the market. The BSE Sensex fell 98 points to 53,416, while the Nifty50 declined 28 points to 15,939.
Results Today
Jindal Steel & Power, Federal Bank, Aditya Birla Money, Deep Diamond India, Den Networks, Integrated Capital Services, Just Dial, Kesoram Industries, Lloyds Metals and Energy, L&T Technology Services, Oberoi Realty, and Opto Circuits (India) will be in focus ahead of quarterly earnings on July 15.
Stocks To Watch
Angel One
The stock broking company has reported a healthy 46.5 per cent year-on-year growth in consolidated profit at Rs 181.50 crore for the quarter ended June 2022, backed by strong topline. Revenue grew by 45 per cent YoY to Rs 669.8 crore in Q1FY23 with healthy growth in fees & commission income, and interest income.
Adani Ports
Adani Ports on July 14 won the tender for privatisation of Israel’s Haifa Port, a major trade hub on the country’s Mediterranean coast, as per a statement issued on social media by Gautam Adani. “Delighted to win the tender for privatization of the Port of Haifa in Israel with our partner Gadot. Immense strategic and historical significance for both nations (sic),” Gautam Adani, the chairman of Adani Group, tweeted.
Syngene International
The company has signed 10-year biologics manufacturing agreement with leading animal health company, Zoetis. It will manufacture the drug substance for Librela (bedinvetmab), a monoclonal antibody used for treating osteoarthritis in dogs. Syngene’s collaboration with Zoetis has started in 2011.
Tata Elxsi
The company clocked a robust 63 per cent year-on-year growth in profit at Rs 184.7 crore for quarter ended June 2022 on strong operating profit and topline growth. Revenues from operations at Rs 725.9 crore grew by 30 per cent YoY and EBITDA increased 58.8 per cent YoY to 238.2 crore in Q1FY23.
ACC
The cement company reported a 60 per cent YoY decline in consolidated profit at Rs 227 crore in quarter ended June 2022 dented by rising global fuel costs and related inflationary impacts. EBITDA fell 51 per cent YoY to Rs 426 crore and margin declined by 1,310 bps to 9.7 per cent in Q2CY22. Revenue increased by 15 per cent YoY to Rs 4,393 crore with cement sales volumes up 10.5 per cent at 7.56 million tonnes and ready mix concrete sales volumes up 43.1 per cent at 0.83 million cubic meters.
Cipla
Subsidiary Cipla Health has signed definitive agreements for the acquisition of Endura Mass, a nutritional supplement brand in the category of weight gain from Medinnbelle Herbalcare Private Limited. Endura and all other associated trademarks would be part of the acquisition.
GTPL Hathway
The company has reported nearly 9 per cent YoY decline in consolidated profit at Rs 43.25 crore in quarter ended June 2022, but revenue increased nearly 5 per cent to Rs 630.9 crore in the same period with subscription revenue rising 3 per cent YoY to Rs 272.7 crore and broadband revenue up 24 per cent YoY to Rs 113.9 crore.
Tata Steel Long Products
The company posted a loss of Rs 331 crore in the quarter ended June 2022 against a profit of Rs 331.6 crore year ago, impacted by the loss at operating level due to higher raw material costs and finance costs. However, revenue increased by 18.2 percent YoY to Rs 1,994 crore in Q1FY23.
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