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Nifty and Sensex closed at record highs, boosted by gains in technology and FMCG stocks. RIL and TCS helped Nifty cross 16,550-mark. The Nifty closed up 0.96% at 16529.10 and Sensex ended higher 1.04% at 55437.29.
Nifty IT advanced 1.35% as TCS, HCL Tech, Wipro, Infosys rose 3.33%, 2.09%, 1.59% and 1.34% respectively. Nifty FMCG rose 0.88% where Tata consumer (4.29%), P&G (2.25%), Dabur (2.24%), Emami (1.38%) and ITC (1.22%) were top gainers.
Indian rupee settled at 74.24 against the US dollar on Friday.
Earnings Update
Glenmark Life: The pharmaceutical company posted a net profit of Rs 101 crore in Apr-Jun quarter of FY22, from Rs 81.07 crore in the year-ago period. The drugmaker’s revenue grew 32.2% on a year-on-year basis to Rs 524.90 crore, and EBITDA rose 18% to Rs 164.44 crore. Its EBITDA margin was 31.3% during the quarter.
Grasim Industries: The company’s net profit rose Rs 481.6 crore in Apr-Jun quarter of FY22, as against a loss of Rs 282.9 crore in the year-ago period. The company’s operating revenue rose 182% to 3762.68 crore in the Q1FY22 from the same period of FY21.