Daily Snippets – 29 July 2022

The Markets Today in a nutshell

• The domestic equity benchmark ended with stellar gains for third straight session.
• Shares rallied on hope that global central banks may go slow on interest rate hikes. Softening commodity prices and net buying by foreign institutional investors (FIIs) in the past few sessions also boosted the sentiment.

Capital Flows

News you could use

?HDFC Q1 results: Higher borrowing, Net profit rises 22%
HDFC reported 22% YoY increase in net profit to Rs 3,669 crore in Q1 FY23. The net interest income (NII) for the quarter ended 30 June 2022 stood at Rs 4,447 crore compared to Rs 4,125 crore in the previous year. The reported NIM during the quarter ended 30 June 2022 was 3.4%.

?Sun Pharmaceutical Industries jumped 5.5%
The company 42.7% rise in consolidated net profit to Rs 2,060.9 crore on a 10.1% increase in gross sales to Rs 10,644 crore in Q1 FY23 over Q1 FY22. The drug maker said that excluding covid products sales for Q1 last year, overall sales are up about 14%.

?Dr Reddy’s Laboratories net profit doubles in Q1 yoy
Dr Reddy’s reported a 108 percent growth in its consolidated net profit at Rs 1,188 crore for the first quarter of FY23 as against a profit of Rs 571 crore registered in the year-ago period.

News from the IPO world?

• IPO bound Pepperfry rejigs business structure.
• IPO bound Ixigo slips into red, report loss in FY22.
• Annapurna Swadisht file DRHP with SEBI for IPO.

Numbers? that matter