Market Update at 2 PM: Sensex is down 1,281.79 points or 2.36% at 52926.74, and the Nifty down 390.80 points or 2.41% at 15849.50.
Here are the complete list of stocks that have touched their 52 week lows during the day on the BSE. Click to view more:
Alkyl Amines Chemicals Q4 Earnings:Alkyl Amines Chemicals has reported 50 percent fall in fourth quarter net profit at Rs 46.4 crore versus Rs 92.6 crore and revenue was up 11.4% at Rs 425.6 crore versus Rs 382.1 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA) was down 44.6% at Rs 73.8 crore versus Rs 133.3 crore and margin was down at 17.3% against 34.9%, YoY.
Here are the stocks on BSE 500 index that have recovered sharply from their Intraday Lows. Click here to get full list:
V-Guard Industries Q4 Results:
V-Guard Industries has posted 32.2 percent jump in Q4 consolidated net profit at Rs 89.7 crore versus Rs 67.8 crore and revenue was up 23.4% at Rs 1,059 crore versus Rs 858 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was down 1.2% at Rs 111.8 crore versus Rs 113.2 crore and margin was at 10.6% versus 13.2%, YoY.
V-Guard Industries was quoting at Rs 221.20, up Rs 2.00, or 0.91 percent on the BSE.
Today’s Stock Market Action
Lincoln Pharma Q4Lincoln Pharma has reported 12.7 percent fall in its Q4 net profit at Rs 11 crore versus Rs 12.6 crore and revenue was up 28.9% at Rs 102.6 crore against Rs 76.9 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA0 was up 10.5 % at Rs 17.5 crore versus Rs 15.8 crore and margin at 17% versus 20%, YoY.
Gainers and Losers on the BSE Sensex
Market at 1 PMIndian benchmark indices extended the fall and trading at day’s low levels.The Sensex was down 1,363.36 points or 2.52% at 52845.17, and the Nifty was down 413.90 points or 2.55% at 15826.40. About 646 shares have advanced, 2405 shares declined, and 98 shares are unchanged.
Dr Reddy’s Laboratories has posted March quarter (Q4FY22) net profit at Rs 88 crore and revenue was at Rs 5,437 crore.
Recession cloud looms large over IT sector’s digital transformation party
The relatively strong growth guidance given by IT companies for 2022-23 have now come under threat, given the apprehension of the US economy slipping into recession later this year
Motilal Oswal View on ITC
ITC’s re-rating would depend on sustained earnings growth going back to high-teens witnessed in the first half of the last decade (18 percent compound annual growth rate) which had slowed to 6.6 percent CAGR over the latter half. Valuation at 17x FY24, although cheap, appears fair.
We value ITC at a 15 percent premium over the global cigarette peer average, aiming for 17x FY24 earnings per share to arrive at our target price of Rs 265. Retain neutral.