Daily Snippets – 2 August 2022

The Markets Today in a nutshell

• The domestic equity benchmark ended with almost flat gains.
• Negative global cues triggered profit selling in domestic shares. PSU banks, FMCG and auto shares were in demand. On the other hand, realty, IT and financial services shares were under pressure.

Capital Flows

News you could use

?ITC rose 0.68% after the company’s standalone net profit rose 38.4%
ITC rose 0.68% to Rs 309.65 after the company’s standalone net profit rose 38.4% to Rs 4,169 crore on 41.9% increase in net revenue to Rs 17,217 crore in Q1 June 2022 over Q1 June 2021.

?Zomato hits upper circuit of 20%
The online food delivery platform reported a consolidated net loss of Rs 186 crore in Q1 June 2022, as against net loss of Rs 360.70 crore in Q1 June 2021. Zomato reported a net loss of Rs 359.70 crore in Q4 March 2022. Revenue from operations stood at Rs 1,413.9 crore in Q1 June 2022, up 67.44% from Rs 844.4 crore reported in Q1 June 2021.

?SpiceJet jumps as 10.17%
The low-cost airliner has entered into a full and final settlement with the Airports Authority of India (AAI) and has cleared all outstanding principal dues of the airport operator. With this, SpiceJet will no longer remain on ‘cash and carry’ at AAI run airports across the country and will revert to advance payment mechanism for daily flight operations.

News from the IPO world?

• SSBA Innovations files Rs.105 crore IPO papers.
• Winemaker Sula to test IPO market after tech unicorns’ flop.
• Recently listed eMudhra has rallied 35% in a week; up 33% that its IPO price.

Numbers? that matter