Daily Snippets – 27 July 2022

The Markets Today in a nutshell

• The domestic equity benchmark ended with strong gains.
• Strength was broad based, with pharma and healthcare stocks gaining the most. Investors remained cautious ahead of the US Fed’s forthcoming monetary policy decision, due to be announced Wednesday following a two-day meeting.

Capital Flows

News you could use

?Maruti Suzuki reports strong quarterly result
Maruti Suzuki India advanced 1.62%. The company’s net profit jumped 129.8% to Rs 1,012.8 crore on 50.52% rise in net sales to Rs 25,286.3 crore in Q1 FY23 over Q1 FY22. The auto major said that the performance in Q1 FY22 was affected by Covid related shutdowns and disruptions and hence a comparison of Q1 FY23 with Q1 FY22 is not on a like to like basis.

?L&T Q1 results: Profit rises 45% YoY
Larsen & Toubro added 2.5%. The company reported 45% rise in consolidated net profit to Rs 1702 crore on 22% rise in total revenue to Rs 35853 crore in Q1 FY23 over Q1 FY22. The company secured orders worth Rs 41,805 crore at the group level during the quarter ended June 30, 2022, registering a growth of 57% over corresponding quarter of the previous year.

?TATA Motors loss widens as JLR drags
Consolidated net loss for the quarter ended June 2022 came in at Rs 5,006.60 crore, widening from a loss of Rs 4,450.92 crore in the same quarter last year. A poll of analysts by CNBC-TV18 had estimated losses at Rs 1,299 crore. JLR revenue for the quarter stood at £4.4 billion, down 11.3 percent YoY and 7.6 percent from Q4 FY22. The loss before tax in the quarter was £524 million.

News from the IPO world?

• After LIC govt plans Export Credit Agency’s IPO by March 2023.
• Exterro valued at over $1bn, targets IPO in 2023.
• PKH Ventures get SEBI’s go ahead to float IPOs.

Numbers? that matter