Domestic benchmark indices continue to move larger although broader markets witness a correction. Nifty and Sensex scaled fresh all-time highs yesterday although midcap and smallcap indices on NSE have been down 2% or more. On the charts, Nifty formed a modest positive candle was formed with upper and reduced shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Technically, this action signal a formation of high wave-type candle pattern. Normally, such high wave formation after a reasonable upmove or decline more often act as a reversal. But, having formed this pattern amid sideways range movement, the significant predictive value is ruled out,” he added.
Zomato: The newly listed Food-tech business could be beneath the scanner today soon after reporting its quarterly final results for the very first time soon after listing on the stock exchanges. Zomato reported a net loss of Rs 356 crore in the very first quarter of the monetary year, against Rs 99.8 crore in the identical period last year. The dood delivery platform’s income from operations elevated to Rs 844.4 crore on a consolidated basis.
Jindal Steel and Power: Jindal Steel and Power (JSPL) on Tuesday reported a close to tenfold rise in its consolidated net profit at Rs 2,516 crore for the April-June quarter. Consolidated net revenues came in at Rs 10,610 crore, up 63% year-on-year.
Reliance Infrastructure: Reliance Infrastructure on Tuesday reported a net loss of Rs 95.15 crore for the very first quarter of the –year. Its total consolidated earnings throughout the quarter beneath evaluation rose to Rs 4,623 crore as against Rs 3,787 crore in the identical period a year ago.
Kalyan Jewellers: Kalyan Jewellers on Tuesday reported a consolidated loss of Rs 51 crore for the April-June quarter of the existing monetary year as against a consolidated loss of Rs 86 crore in the comparable period of the last fiscal year. Consolidated income grew 109% in Q1FY22 compared to Q1FY21, mostly driven by robust sales momentum across retailers each prior to and post lockdowns in the quarter, as nicely as a low base in the last monetary year.
Coal India: The PSU business reported a 52% jump in its consolidated net profit for the very first quarter of the existing fiscal at Rs 3,174.14 crore. Coal India’s net profit throughout the very first quarter of the last fiscal was Rs 2,077.51 crore, mostly hit by reduced demand from the energy sector in the wake of Covid-19.
Brookfield REIT: The Real Estate Trust reported an boost in Operating Lease Rentals to Rs 1.6 billion, 7.3% on-year boost. Brookfield generated NDCF of Rs 1.9 billion or Rs 6.42 per unit. Brookfield managed to gather 99% of contracted rentals, although renewing 169,000 sf space throughout the quarter.
Results today: Aster DM Healthcare, Bata India, Cadila Healthcare, CESC, Cumins India, Endurance Technologies, Lemon Tree Hotels, New India Assurance, and Pidilite Industries will announce their quarterly final results today.