The Fed is widely expected to hike rates by 75 basis points, with markets pricing about a 10% risk of a larger increase and watching for any shift in rhetoric.
Meanwhile, the International Monetary Fund, in an update of its World Economic Outlook on Tuesday, cut India’s 2022 growth forecast to 7.4% from 8.2% in April, citing less favourable external conditions and more rapid policy tightening.
In Mumbai, construction major Larsen & Toubro gained 3% after beating estimates for quarterly profit.
“Early Q1 results indicate good performance by companies with leading banks, capital goods, paints and mid-cap IT delivering impressive numbers. Large-cap IT is facing the brunt of FII selling now on US recession fears impacting the prospects of IT majors. Clarity on where the US economy is moving will decide the valuation of IT stocks. Financials have responded to good Q1 results and reduced FII selling. But there is more room for the segment to move up since credit growth continues to be robust,” says Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Nifty 50 components Bajaj Finance, Maruti Suzuki and Tata Motors will report their results later in the day.
!1 New UpdateClick here for latest updates
Bajaj Finance Q1 Results: Profit surges 159% YoY to Rs 2,596 crore, beats estimates
Bajaj Finance on Wednesday reported a 159 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,596 crore for the June quarter compared with Rs 1,002 crore in the same quarter last year. The figure was higher than Rs 2,327 crore net profit that analysts had projected in an ET NOW poll.
SIS Q1 net profit up 39% at Rs 83 crore
SIS Ltd has reported a 39 per cent rise in net profit to Rs 83 crore for the first quarter ended June 30, aided by higher revenue. The company had posted a net profit of Rs 60 crore in the April-June quarter of the preceding fiscal. Its revenue for the quarter increased by 13 per cent to Rs 2,678.2 crore from Rs 2,379.3 crore a year ago, a USD 1.3 billion multinational firm in security, facility management and cash logistics solutions said in a statement on Wednesday.
Maruti Suzuki Q1 Results: Profit more than doubles to Rs 1,013 crore; revenue jumps 51%
- Maruti Suzuki on Wednesday reported a 129.76 per cent year-on-year (YoY) surge in net profit at Rs 1,012.80 crore in the June quarter compared with Rs 440.80 crore in the same quarter last year.
- Revenue for the quarter rose 50.52 per cent YoY to Rs 25,286.30 crore compared with Rs 16,798.70 crore in the corresponding quarter last year.
Genesys International partners with Google to enable the launch of Street View in India; stock at 5% upper circuit limit
Price as on 27 Jul, 2022 02:15 PM, Click on company names for their live prices.
Top auto losers at this hour
Price as on 27 Jul, 2022 02:15 PM, Click on company names for their live prices.
Q1 RESULTS: COLGATE
- PAT at Rs 210 cr vs Rs 233 cr YoY
- Sales at Rs 1187 cr vs Rs 1158 cr YoY
TCS expects the USD 1 billion retail sector business in the UK, Europe to outpace the company’s overall revenue growth on the back of strong demand for IT services, a senior official has said. The country’s largest software exporter on Wednesday announced a multi-year, multi-million dollar deal with Marks & Spencer, with which it has been working for over a decade, to transform the British retailer’s human resource operations.
Price as on 27 Jul, 2022 01:19 PM, Click on company names for their live prices.
Q1 Results: Gujarat Fluorochemicals
#EarningsWithETNOW | Gujarat Fluorochemicals Q1FY23 ( Consolidated YoY) -Revenue at Rs 1, 333.98 cr vs Rs 919.94… https://t.co/9p95N8wvVg
— ET NOW (@ETNOWlive) 1658907740000
Market LIVE Updates: These stocks fall the most in a firm market
Price as on 27 Jul, 2022 01:00 PM, Click on company names for their live prices.
Q1 Results: V-Guard
V-Guard Q1 Results -PAT at Rs 54 cr vs Rs 24.6 cr YoY -EBITDA at Rs 86.9 cr vs Rs 47.33 cr YoY -Margin at 8.6% vs… https://t.co/fQ9K7DY0dW
— ETMarkets (@ETMarkets) 1658905757000
CREDIT SUISSE ON ZOMATO — OUTPERFORM|TARGET PRICE Rs 90
- The company on a clear road to profitability growth Maintain
- Existing core customers to drive the food business
- Duopolistic industry; core user base to drive margins
- Quick commerce is an adjacency, but industry winners still not clear
- Source: ETNow
BROKERAGE RADAR | CREDIT SUISSE ON NYKAA (Source: ET NOW)
- Initiate coverage with UNDERPERFORM; Target price Rs 1,100
- Too much optimism priced in
- Nykaa has built a dominant position in the online beauty segment
- Core strengths along with omni channel push will drive Nykaa
- EBITDA margin is expected to move to mid-teens
- Nykaa to dominate online BPC with rising margins
- Value Nykaa on a three-stage DCF mode
UNION BANK TO ET NOW A MANIMEKHALAI
- Good growth in Hybrid Annuity Model (HAM) and renewables
- NIM has done well since good interest accretion; NIMs for FY23 expected at 3.1%
- MTM losses at Rs 100 cr since everything was normalised in March; no impact going forward
- Employee expenses higher due to incentives paid to employees and pension provided for
5G spectrum: Fifth round of bidding underway, auctions may conclude today
After a better-than-expected response from players on the opening day, the 5G spectrum auctions entered the second day on Wednesday, with the fifth round of bidding currently underway. Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea had put in bids of about Rs 1.45 lakh crore to buy fifth-generation (5G) airwaves on Tuesday.
YES Securities on Tanla Platforms
Overall, Tanla Platforms reported mixed performance for the quarter. While, the revenue for the quarter was inline, EBITDA margin came sharply below estimates on several operational headwinds such as pricing pressure in few pockets, downtime due to modernization of platform and cross currency headwinds. The Q1 is a seasonally weak quarter and that led to sequential dip in revenue. The Wisely platform is shaping up nicely and would drive revenue growth for Platform segment in FY23. It remains a leader in CPaaS space in India, growing faster than the industry. We maintain BUY Rating on the stock with revised target price of Rs 1,218 per share, based on 22x on FY24E EPS.
These 10 stocks move in tandem with market mood, rally up to 8%
Price as on 27 Jul, 2022 11:51 AM, Click on company names for their live prices.
Zomato allots 4.66 crore shares to employees at 98% discount
Amid a free fall in the share price of Zomato, the food delivery player has allotted 4,65,51,600 equity shares from its ESOP (employee stock option plan) pool at an exercise price of one rupee. The company in a filing on Tuesday said that the nomination and remuneration committee of its board of directors has approved the allotment of 4,65,51,600 equity shares to employees upon exercise of vested stock options. The shares of Zomato, which recently completed one year on Dalal street, have been reeling under severe selling pressure, with the counter losing about one-fourth of its value in a week.
Larsen & Toubro shares climb nearly 4 pc after June quarter earnings
Shares of Larsen & Toubro (L&T) climbed nearly 4 per cent in morning trade on Wednesday after the company’s consolidated net profit increased 44.9 per cent in the June quarter this year. The stock jumped 3.62 per cent to Rs 1,814.30 on the BSE. At the NSE, it advanced 3.58 per cent to Rs 1,814 apiece. Engineering and construction conglomerate Larsen & Toubro on Tuesday said its consolidated net profit increased 44.9 per cent to Rs 1,702.07 crore in the June 2022 quarter due to higher revenue from operations.
Dr. Reddy’s Laboratories announces the launch of Bortezomib for Injection, 3.5 mg Single-Dose Vial in the U.S. Market
Price as on 27 Jul, 2022 10:51 AM, Click on company names for their live prices.
State-owned Oil and Natural Gas Corporation Limited on Tuesday signed a Memorandum of Understanding (MoU) with Greenko ZeroC Private Limited, to jointly pursue opportunities in renewables, green hydrogen, green Ammonia and other derivatives of green hydrogen.
Price as on 27 Jul, 2022 10:47 AM, Click on company names for their live prices.
Market LIVE Updates: Ahead of earnings…
Price as on 27 Jul, 2022 10:41 AM, Click on company names for their live prices.
Credit Suisse names Ulrich Koerner as CEO, replacing Gottstein
Pharma stocks in pink of health!
Price as on 27 Jul, 2022 10:20 AM, Click on company names for their live prices.
Retail chain Shoppers Stop Ltd on Tuesday reported a consolidated net profit of Rs 22.83 crore for the first quarter that ended on June 30, 2022. The company had posted a net loss of Rs 104.89 crore in the April-June quarter a year ago, said Shoppers Stop in a regulatory filing.
Price as on 27 Jul, 2022 09:59 AM, Click on company names for their live prices.
Sensex erases gains, slides for Day 3
Being in the distant vicinity of the 16400 target that we had set out with at the start of the week, the question now would be whether there is enough momentum to see extension to 16170.Given the sharp downsides in the closing hour of yesterday, a reactionary pull back is likely initially today. But with VIX rising, volatility expectations are higher, and directional up moves may have to wait until the 16560-600 region is taken out, until which, it is fair to expect sub 16400 levels to close.
– Anand James – Chief Market Strategist at Geojit Financial Services
Aditya Birla Sun Life AMC, part of Aditya Birla Capital, on Tuesday reported a 33.6 per cent fall in profit after tax (PAT) to Rs 102.8 crore in the April-June quarter of this year.
Price as on 27 Jul, 2022 09:31 AM, Click on company names for their live prices.
Market LIVE Updates: BSE Midcap index underperforms benchmark…
Read More:Sensex Today: Stock Market LIVE Updates: Sensex rises 400 points ahead of Fed outcome; Nifty tops 16,600; L&T jumps 3%
2022-07-27 09:28:00
