Daily Snippets – 22 July 2022

The Markets Today in a nutshell

• The domestic equity benchmark ended in decent gains. 
• Markets continued its winning streak for the sixth day in a row, helped by financials, FMCG and auto stocks. Increased foreign investment and solid quarterly results are increasing domestic demand.

Day Leader Board

Capital Flows

News you could use

?Reliance Jio reports strong results on realization of full tariff hike
Reliance Jio Infocomm, reported a year-on-year growth of 23.8 percent in its standalone net profit of Rs 4,335 crore for the quarter ended June 2022 (Q1FY23) compared to Rs 3,501 crore achieved a year ago. The company recorded revenues of Rs 21,873 crore for the reported quarter, which is a growth of 21.6 percent from Rs 17,994 crore a year back. 

?Ultratech Cement Q1FY23 profit declines
The company beat the street’s estimates for both the profit as well as its consolidated revenues. The volumes witnessed strong traction over the low base of last year and the price hikes taken by the company enabled improvement in realisations which fuelled revenue growth. However, the profitability got impacted by the rise in power and fuel costs.

?Bandhan Bank reports robust growth in profits
The bank clocked a massive 137.6 percent year-on-year (YoY) increase in net profit for the quarter ended June 2022, aided by lower provisions and higher net interest income. However, asset quality weakened. The profit came in at Rs 886.5 crore, increasing sharply from Rs 373.1 crore registered in the corresponding period of the previous fiscal year.

News from the IPO world?

• Ethnic apparel retailer Sai Silks files draft papers with SEBI.
• Arohan Financial in talks with PEs to raise Rs. 1,900 crore.
• 79 year old Indian tech entrepreneur Ashok Soota aims for Happiest Health IPO.

Numbers? that matter