The market was volatile and managed to eke out moderate gains due to recovery in the last couple of hours of trade on August 2. Hence, there was a continuation in the uptrend for the fifth consecutive session. The BSE Sensex rose 21 points to 58,136, while the Nifty50 increased 5.5 points to 17,345.50.
Lupin, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, Devyani International, Firstsource Solutions, Gujarat Gas, Inox Leisure, KEC International, Paras Defence and Space Technologies, PI Industries, Sandhar Technologies, Satin Creditcare Network, Speciality Restaurants, Tata Coffee, and Zuari Agro Chemicals will be in focus ahead of June quarter earnings on August 3.
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Jio Platforms announced a partnership with Subex for its AI Orchestration Platform, HyperSense, which can enable telcos to deliver on the promise of AI across the data value chain. Jio Platforms will offer its Cloud Native 5G Core to telecom companies globally along with Subex’s HyperSense for enabling closed-loop network automation, product performance and customer experience analytics.
The company reported a 4.7 per cent year-on-year increase in consolidated profit at Rs 62.77 crore for the quarter ended June 2022, impacted by higher finance cost, and input cost but supported by top line. Revenue from operations grew by 85 per cent YoY to Rs 2,434.66 crore during the same period.
The company registered a 10 per cent year-on-year decline in profit at Rs 110 crore for the quarter ended June 2022 dented by other income. Revenue grew by 50 per cent YoY to Rs 2,795 crore during the same period largely driven by the unitary cooling products segment which grew 125 per cent YoY.
The company said the board of directors will hold a meeting on August 9 to consider the issuance of bonus equity shares. The board will also consider un-audited financial results (consolidated and standalone) of the company for the quarter ended June 2022, on the same date.
Adani Green Energy
The company reported a 2.3 per cent YoY decline in consolidated profit at Rs 214 crore for the quarter ended June 2022, dented by lower other income, and forex loss. Revenue grew by 58 per cent YoY to Rs 1,701 crore during the same period. Robust growth in revenue and EBITDA from power supply is backed by capacity addition, improved solar and wind CUF and high hybrid CUF, while the consistent EBITDA margin (flat at 92 per cent YoY), is backed by high solar, wind and hybrid CUF and cost efficiencies brought in through real-time centralised monitoring through energy network operation centre.
The API non-antibiotic manufacturing facility in Andhra Pradesh has received a ‘Form 483’ with 3 observations, but none of these observations is related to data integrity. The USFDA inspected the company’s Unit XI, an API non-antibiotic manufacturing facility from July 25 to August 2. Earlier, the said Unit was classified as OAI on May 17, 2019, and subsequently given a warning letter dated June 20, 2019.
The USFDA has issued six observations to the company’s solid dosage manufacturing facility at the Roorkee plant. The USFDA concluded an audit of this facility of Jubilant Generics, a subsidiary of its wholly owned subsidiary Jubilant Pharma.
The company has exited its lifestyle retailing business following a strategic review of its business portfolio.
Mahindra & Mahindra Financial Services
The company said in July 2022, against the backdrop of a positive macro environment, the business continued its momentum with the disbursement of approximately Rs 3,912 crore delivering a 63 per cent YoY growth and a 3 per cent sequential MoM growth. The YTD disbursement at approximately Rs 13,385 crore registered a YoY growth of 114 per cent. The collection efficiency (CE) was at 97 per cent for July 2022, better than the CE of 95 per cent for July 2021.