BSE Realty index shed 3 percent dragged by the Godrej Properties, DLF, Oberoi Realty
Coromandel International Q2: Net profit went down 11.8% at Rs 519.3 crore against Rs 588.9 crore (YoY). Revenue jumped 133.3% at Rs 6,147.5 crore against Rs 4,611.3 crore (YoY). EBITDA fell 11.8% at Rs 743.2 crore against Rs 843.1 crore (YoY). EBITDA margin at 12.1% against 18.3% (YoY).
Tapan Patel- Senior Analyst (Commodities), HDFC Securities: Crude oil prices traded lower with benchmark NYMEX WTI crude oil prices fell by 0.65% to 82.12 per barrel for the day. MCX Crude oil November futures were trading 0.96% down near Rs 6,160 per barrel by noon.
Crude oil prices are expected to trade sideways to down with resistance at $85 and support at $81 per barrel. MCX Crude oil November has support at Rs 6,050 and resistance at Rs 6,240.
Marico Q2: Net Profit was up 15.8% at Rs 316 crore against Rs 273 crore (YoY). Revenue jumped 21.6% at Rs 2,419 crore against Rs 1,989 crore (YoY). EBITDA rose 8.7% at Rs 423 crore against Rs 389 crore (YoY) while EBITDA margin came in at 17.5% against 19.6% (YoY).
European markets are trading weak with FTSE down half a percent
Oriental Carbon Q2: Net profit was down 37.3% at Rs 13.3 crore against Rs 21.2 crore (YoY). Revenue was up 22% at Rs 110.4 crore against Rs 90.5 crore (YoY). EBITDA fell 31.7% at Rs 22.2 crore against Rs 32.5 crore (YoY). EBITDA margin came in at 20.1% against 35.9% (YoY).
Johnson Controls-Hitachi Q2: Net loss at Rs 9.3 crore against loss of Rs 19 crore (YoY). Revenue was up 28.1% at Rs 397.2 crore against Rs 310.1 crore (YoY). EBITDA at Rs 5.6 crore against EBITDA loss at Rs 5.2 crore (YoY).
Gujarat Gas Q2: Net profit fell 47.5% at Rs 249.1 crore against Rs 474.8 crore (QoQ). Revenue was up 20.1% at Rs 3,614.5 crore against Rs 3,010.8 crore (YoY). EBITDA was down 41.7% at Rs 421.1 crore against Rs 722.8 crore (QoQ). EBITDA margin at 11.7% against 24% (QoQ).
Market update at 2 PM: Sensex is down 858.25 points or 1.40% at 60285.08, and the Nifty declined 262.20 points or 1.44% at 17948.80.
Sun Pharma lauches Ilumya in the Canadian market:
Sun Pharma Canada Inc., a wholly owned subsidiary of Sun Pharmaceuticals Industries announced that ILUMYA (tildrakizumab injection), a treatment for adults living with moderateto-severe plaque psoriasis, is now available in Canada, as per the company’s press release.
“We are excited to introduce this important biologic treatment to Canadians living with this common, inhibiting and often-overlooked disease. This launch is an important milestone for Sun Pharma, as we expand our dermatology portfolio into Canada,” said Abhay Gandhi, CEO North America, Sun Pharma.
Sun Pharmaceutical Industries was quoting at Rs 811.65, down Rs 13.70, or 1.66 percent on the BSE.
DB Corp Q2:
DB Corp has reported 88.8 percent jump in its Q2 net profit at Rs 53.8 crore versus Rs 28.5 crore and revenue was up 29% at Rs 446.8 crore versus Rs 346.4 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was up 42.1% at Rs 100.9 crore and margin was at 22.6% versus 20.5%, YoY.
DB Corp was quoting at Rs 103.40, up Re 1, or 0.98 percent on the BSE.
BSE Information Technology index shed 1 percent dragged by the Ramco Systems, Oracle Financial Services, NELCO
