Indices at previous closing
Nifty50: 16,130 ▲+245 (1.5%)
Sensex: 53,823 ▲+872 (+1.6%)
Nifty Bank: 35,207 ▲+497 (+1.4%)
In the news
Dabur rides the second wave
India’s leading FMCG major Dabur India posted a net profit of 28% year-on-year to ₹438 crore in the June quarter. The revenues from operations stood at ₹ 2,611 crore which was 32% higher in comparison to last year.
The rise in revenues was driven by the Food & Beverage vertical which grew 80%, which includes the beverages under the Real brand. The management has said that in light of its learnings from the first wave, the company streamlined its supply chain operations. This resulted in minimal disruption during the second wave. Yesterday, shares of Dabur India jumped 2.4%.
Tata Consumer’s Q1 profit declines
The Tata tea and Tata salt makers consolidated net profit dropped by 42% YoY to ₹200 crore in the June quarter. Even after adjusting for the exceptional item, the profit declined by 27%. This was lower slightly than the street estimate of ₹205 crore.
However, the company’s revenue rose by 11% to ₹3,008 crore, mainly led by the domestic beverages and food segments. The company’s management has said that its tea and coffee international business is witnessing a return to pre-Covid demand. Shares of the company were up 0.9% but the results were announced after market hours.
Kalpataru Power posts strong Q1 profit growth
The power transmission and infrastructure company’s net profit soared by 178% to ₹78 crore in the June quarter. The revenue also surged by 38% to ₹3,204 crore with healthy execution across business verticals.
The management has said that it is managing costs as rising commodity prices, higher logistic cost and supply chain issues pose near-term challenges. Meanwhile, its consolidated order book stood at ₹29,313 crore, which is over 2 times its FY21 revenues. Shares of the company were down 1% but the results were declared after market hours.
Sectoral indices (August 3)
| Top gainers | Top losers |
| Nifty FMCG ▲ 1.7% | Nifty Media ▼ 0.8% |
| Nifty Financial Services ▲ 1.6% | Nifty Metal ▼ 0.0% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.5% |
| Nikkei 225 (Japan) | ▼ 0.1% |
| Hang Seng (Hong Kong) | ▲ 1.3% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (August 3) | ▲ 0.8% |
Fact of the day
Greenland’s first high security prison opened in 2019. Before this, Greenlanders found guilty of serious crimes were sent to Denmark for their sentence.
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