Indices at previous closing
Nifty50: 15,853 ▲+41 (+0.2%)
Sensex: 52,904 ▲+134 (+0.2%)
Nifty Bank: 35,668 ▼-5 (-0.0%)
In the news
Infosys raises revenue outlook
- India’s second largest IT company has revised its revenue outlook for FY22 upward to 14-16% from 12-14%. Its June quarter revenues rose at the fastest pace in a decade at 16.9% year-on-year and 4.8% quarter-on-quarter in constant currency. The optimism was backed by large deal flows.
- In Q1 revenues in rupee terms rose 6% QoQ to ₹27,896 crore better than street estimates of ₹27,655. Meanwhile, profit rose 2.3% QoQ to ₹5,195 crore lower than market expectation of ₹5,378 crore. Shares of Infosys rose 2.1% today, however, the results came after market hours.
L&T Tech reports strong Q1 profit
- The engineering services arm of the L&T group reported an 84% YoY rise in consolidated net profit to ₹216 crore for the June quarter, beating the street estimate of ₹185 crore. The profit growth was driven mainly by a 17% rise in revenue from operations at ₹1,518 crore.
- On a sequential basis, revenues grew 5.4% and profits were up 11.1%. During the quarter, the company won 6 deals worth over $10 million, including 2 deals worth over $25 million. The company said the deal pipeline is healthy across segments, and it expects broad-based growth to continue. The stock rose 2.5% today.
Dodla Dairy posts profitable Q1
- The Hyderabad-based company, which made its debut on the stock markets last month, reported a consolidated net profit of ₹9.5 crore in the June quarter as compared to a loss of ₹1.9 crore in Q1FY21. The growth in the profit was led by a fall in raw material costs (milk).
- The revenue growth was flat at ₹530 crore. The management has said that the impact of the pandemic on business has been minimal as milk is classified as an essential commodity. Shares of the company were down 0.8% today, but have risen by 45% against the issue price.
Key data releases this week
Thursday: Trade Balance
Sectoral indices (July 14)
| Top gainers | Top losers |
| Nifty IT ▲ 3.1% | Nifty Realty ▼ 0.9% |
| Nifty Pharma ▲ 0.3% | Nifty PSU Bank ▼ 0.5% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▼ 0.8% |
| Hang Seng (Hong Kong) | ▲ 0.5% |
| SSE Composite (China) | ▼ 0.0% |
| Dow Jones (US) (July 14) | ▲ 0.1% |
Fact of the day
Tibet’s first bullet train runs at such high altitude that it has been equipped with automated oxygen supply, which maintains oxygen levels at 23.6%.
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