Indices at previous closing
Nifty50: 16,282 ▲2 (+0.0%)
Sensex: 54,525 ▼28 (-0.0%)
Nifty Bank: 35,806 ▼227 (-0.6%)
In the news
Cadila Healthcare Q1 profit rises
Cadila healthcare posted a net profit of ₹587 crore, up 29% from the same period last year. The company also reported a 15% year-on-year growth in revenue, which stood at ₹4,025 crore in Q1FY22. The bottomline growth was mainly due to the lower base of last year and growth in human formulations and consumer wellness segments.
The company’s key consumer wellness brands like Nutralite, Complan and Sugar Free saw healthy growth. The company said that it has seen demand revival across its segments due to the gradual opening of markets. Despite the healthy results, shares of Cadila Healthcare were down by 2.2% yesterday.
Bajaj Electricals’ net loss widens
The consumer electricals maker’s net loss widened to ₹24.9 crore in Q1FY22 from ₹16.6 crore Q1FY21. It’s important to note, however, that last year’s loss was mitigated by an exceptional gain of about ₹28 crore.
However, the company’s revenue rose by 41% YoY to ₹857 crore, driven by the consumer products segment. The EPC segment’s order book as of 1 July stood at ₹888 crore, which is 70% of the company’s FY21 revenue. Shares of the company were down 2.3% yesterday, but the results were announced after market hours.
India Cements’ net profit soars
The cement maker’s net profit rose by 120% YoY to ₹37.4 crore in the June quarter. The low base of last year and a 35% rise in revenue from operations to ₹1,022 crore boosted the bottom line.
While sales volumes grew 37% compared to last year, realization dipped by 7% due to an adverse sales mix. Going forward, the company sees multiple demand triggers. Normal monsoon could boost rural demand, government infra projects and work from home, along with affordable housing are expected to keep cement demand buoyant. Meanwhile, shares of India Cement were down 2.5% yesterday.
Sectoral indices (August 11)
| Top gainers | Top losers |
| Nifty Metal ▲ 3.1% | Nifty Pharma ▼ 1.4% |
| Nifty PSU Bank ▲ 0.4% | Nifty Pvt Bank ▼ 0.6% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.2% |
| Hang Seng (Hong Kong) | ▼ 0.1% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (August 11) | ▲ 0.6% |
Fact of the day
There is 100 times more gold in a tonne of e-waste than in a tonne of gold ore.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.