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Godfrey Phillips Q4: Net profit at Rs 95.2 crore against Rs 38.7 crore (YoY). Revenue was up 17.5 percent at Rs 705.9 crore against Rs 600.8 crore (YoY). EBITDA jumped 76.3 percent at Rs 156.7 crore against Rs 88.9 crore (YoY) while EBITDA margin was at 22.2 percent against 14.8 percent (YoY). Other income at Rs 17.7 crore against Rs 30.4 crore (YoY). Tax expenses at Rs 30.6 crore against Rs 16.9 crore (YoY). The company board has declared dividend of Rs 24 per share.
Tapan Patel- Senior Analyst (Commodities), HDFC Securities: Crude oil prices traded higher with benchmark NYMEX WTI crude oil prices were trading up by 0.25% at $73.49 per barrel for the day. MCX Crude oil July futures were up by 0.42% at Rs 5460 by noon.
Crude oil prices are expected to trade sideways to up for the day with resistance at $74 and support at $72 per barrel. MCX Crude oil July has support at Rs 5380 and resistance at Rs 5520.
Indraprastha Gas Q4: Net Profit was down 1.2 percent at Rs 331 crore against Rs 334.9 crore (QoQ). Revenue was up 7.2 percent at Rs 1,550.6 crore against Rs 1,446.2 crore (QoQ). EBITDA was down 1.8 percent at Rs 491.7 crore against Rs 500.7 crore (QoQ). EBITDA margin at 31.7 percent against 34.6 percent (QoQ).
Market update: Indices are trading at day’s high with Sensex up 253.89 points or 0.48% at 52952.89, and the Nifty adding 75.30 points or 0.48% at 15865.80. Tata Steel, Axis Bank and State Bank of India are the top gainers while Titan COmpany and Reliance Industries dragged the most.
Among the sectors, the metal and PSU bank index gained over 2 percent each while the midcap and smallcap indices are also trading in the green.
Moody’s affirms IDBI Bank’s deposit ratings: Moody’s affirms IDBI Bank’s deposit ratings, upgrades baseline credit assessment. It also upgrades IDBI’s baseline credit assessment to b1 from b2. The stock was trading at Rs 38.40, down Rs 0.45, or 1.16 percent. It has touched an intraday high of Rs 38.95 and an intraday low of Rs 38.20.
These 24 Stocks From BSE 500 Have Turned Multibaggers In 2021 So Far. Time To Book Profit?
The market rally was orchestrated by strong retail participation, better-than-expected earnings and positive outlooks shared by the management of companies.
India Pesticides IPO subscribed 5.96 times:
The initial public offering (IPO) of India Pesticides, one of India’s leading agro-chemical manufacturers, had been subscribed 5.96 times by the morning of June 25, the final day of bidding. Investors had bid for 11.5 crore equity shares against the IPO size of 1.93 crore shares, the subscription data available on exchanges showed.
The portion reserved for qualified institutional investors has been subscribed 3.24 times and that of non-institutional investors 3.38 times. Retail investors have put in bids 8.62 times their reserved portion.
Mukand shares locked in upper circuit
Mukand share price was locked in 5 percent upper circuit on June 25 after the company executed a memorandum of undertsanding to sell 47 acre land at Thane.
“We have executed a Memorandum of Understanding (MoU) on June 25, 2021 for the sale of freehold land of the company admeasuring approximately 47 acres situated at Kalwe and Dighe, in Thane district for a consideration of Rs 752.11 crore and have received an initial advance of Rs 10 crore,” the company said in its release.
Gaurav Garg, Head of Research, CapitalVia Global Research:
The market is trading with a small positivity with support of 15800. 15800 will be an important support zone for the market to stay positive in the short term. If the market breaches and sustain above the level of 15900, we can expect the market to trade till 16200-16300. On the sectoral front most of the sectors are trading in the positive zone, while Energy and Oil & Gas sector have shown weakness. Tata Steel and JSW steel are the top gainers while Reliance and HUL are the top losers on Nifty.
Market at 1 PM
Benchmark indices extended the gains and trading at day’s high level with Nifty around 15850
The Sensex was up 193.43 points or 0.37% at 52892.43, and the Nifty was up 61.30 points or 0.39% at 15851.80. About 1688 shares have advanced, 1170 shares declined, and 119 shares are unchanged.
Except energy and FMCG all other sectoral indices were trading in the green.
Accenture’s Q3 Performance Brightens Outlook For Indian IT Sector; Infosys, HCL Tech, TCS Among Top Picks
Accenture’s quarterly numbers and guidance have further brightened the outlook for the IT firms as most brokerages have reaffirmed their positive view on the sector.
