Daily Snippets – 8 August 2022

The Markets Today in a nutshell

• The domestic equity benchmark ended with major gains.
• The domestic benchmarks indices near a four-month high, on buying by foreign investors, falling crude oil prices and gains in auto as well as metal stocks. The week ahead is busy in terms of economic data with the domestic investors gearing up for the release of the inflation numbers along with the manufacturing production data to gauge the strength of the economy.

Capital Flows

News you could use

?Bharti Airtel reports healthy addition of subscribers
Bharti Airtel reported a 467 percent year-on-year jump in consolidated net profit at Rs 1,607 crore for the quarter ended June 30, 2022. On a sequential basis, profit, however, was down 20 percent. The telecom major’s consolidated revenue rose 22 percent YoY to Rs 32,805 crore. Year-on-year growth was aided by a healthy addition of subscribers as well as an improvement in average revenue per user after a round of tariff hikes.

?Paytm stock climbs on healthy results
One 97 Communications (Paytm) climbed 6.46% after the company’s revenue surged 89% to Rs 1,680 crore in Q1 June 2022 over Q1 June 2021. Main drivers for revenue growth were increase in subscription revenues due to growing number of payment devices, growth in bill payments due to growing monthly transacting users (MTUs), growth in disbursements of loans by partners through platform, and increase in Commerce revenues.

?HPCL stock down 4.8%; Quarterly results disappoint investors
The stock price was down over 4 percent after the company posted a big loss of Rs 10,197 crore for the quarter ended June FY23 against a profit of Rs 1,795 crore for the same period last year, impacted by erosion in the marketing margin on motor fuels and LPG. Its revenue however grew by 56 percent YoY to Rs 1.22 lakh crore during the same period.

News from the IPO world?

• Syrma SGS Technology IPO price band between Rs.209-220.
• Yatharth Hospitals get SEBI’s approval to go ahead for a Rs. 610 crore IPO.
• 28 companies secure SEBI’s clearance to float IPO worth Rs. 45,000 crore in April-July.

Numbers? that matter