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Indian indices closed at a record high on Tuesday, boosted by investor confidence over faster economic revival and strong results from Indian companies. The Sensex closed 1.65% higher at 53,823.36 and Nifty jumped 1.55% to end at 16,130.75.
All major sectoral indices like Banks, Auto, IT, FMCG and Pharma jumped more than 1%.
The Indian rupee gained 6 paise to close at 74.28 against the US dollar.
Earnings Update
Adani Ports and Special Economic Zone: The company posted a 72% rise in consolidated net profit to Rs 1,307 crore for the quarter ended June of FY22. The company reported a 99% rise in its operating revenue to Rs 4,557 crore in the quarter. The ports business saw a strong quarter as revenues jumped 75% to Rs 3,339 crore.
Bank of India: The public sector lender’s net profit declined 14.7% to Rs 720 crore on higher provisioning for bad loans, as against a net profit of Rs 844 crore in the year-ago period. Net interest income fell Rs 3145 crore in Q1 of FY22, from Rs 3481 crore in the same period of last year. Net interest margin stood at 2.16% in Q1, compared with 2.48% in the corresponding quarter of last year. Gross NPA stood at 13.51% in the quarter.
Barbeque-Nation Hospitality: The quick service restaurant posted a consolidated net loss of Rs 42.6 crore Q1 of FY22, compared with a net loss of Rs 59.6 crore in the year-ago period. Its consolidated operating revenue surged 941% to 102 crore in the quarter due to lower base effect.