Get App
Indian indices pared some losses as Sensex recovered 650 points and Nifty held above 15,700 level, helped by gains in metals and technology sector. The Sensex closed down 0.26% at 52,443.71 and Nifty fell 0.24% to 15,709.4.
Banks, real estate and auto stocks were among the biggest losers on Wednesday.
The Indian rupee ended higher by 9 paise at 74.37 against the US dollar.
India VIX rose 9% ahead of Fed monetary policy meeting.
Earnings Update
IDBI Bank: The lender reported a profit after tax of Rs 603 crore for the quarter ended June of FY22, from Rs 144 crore in the year-ago period. Net interest income rose 41% to Rs 2506 crore in the quarter, from Rs 1772 crore in the same period of FY21. Net interest margin rose to 4.06% in the quarter, from 2.81% in the corresponding period of last year.
Tata Coffee: The company reported a 2.19% rise in its standalone operating revenue to Rs 179.45 crore in Apr-Jun quarter of FY22, from Rs 175.6 crore in the year-ago period. The company’s profit after tax rose to Rs 28.16 crore in the quarter, from Rs 10.5 crore in the same period of last year. The company showed a consolidated net profit of Rs 46 crore in the quarter and a consolidated revenue of Rs 538.03 crore.
Century Textiles and Industries: The company posted a consolidated net profit of Rs 25 crore in Q1 of FY22, as against a loss of Rs 36 crore in the year-ago period. The net sales grew 111% to Rs 832 crore in the quarter, from Rs 394 crore, helped by strong performance in its manufacturing business, pull & paper segment and textile segment.