Major stock indices slipped weighed by losses in banking, metals and realty shares. The Sensex closed 0.13% lower 60352.82 and broader Nifty index fell 0.15% to 18017.20
Top losers among various sectoral indices were Nifty PSU Bank (-2.35%), Private Bank (-0.94%), Nifty Metal (-1.76%) and Realty (-1.36%). Top gainer were Nifty Auto (0.53%) and Nifty Infrastructure (0.43%).
Indian rupee fell 35 paise to close at 74.39 against the US dollar on Wednesday.
Stock in News Today
Nykaa: The company had a blockbuster stock market debut as the company’s shares doubled from its issue price and closed at Rs 2205.8 per equity share. The shares got listed at Rs 2,001 apiece, a 77.8% premium to its IPO price of Rs 1,125.
Bank of Baroda: The public-sector lender’s standalone net profit rose 24% to Rs 2088 crore in Q2FY22 from Rs 1679 crore in the year-ago period. Net Interest Income marginally rose 2% to Rs 7566 crore in the reported quarter, from Rs 7508 crore in the corresponding period last year. Net NPAs declined to 2.8% in the quarter from 3.03% in the first quarter of the current fiscal year.
India Cements: The company registered a 69.2% decline in its Q2 net profit at Rs 21.97 crore as against Rs 71.43 crore in the same period last fiscal. Its revenue was up 11.3% to Rs 1,190.17 crore from Rs 1,069.72 crore in the year-ago period. EBITDA was down 43% YoY to Rs 133.6 crore from Rs 234.7 crore in the same period last year.
Bosch: The company’s consolidated net profit soared 682% to Rs 372.18 crore in Q2FY22 from a net loss of Rs. 63.96 crore in the year-ago period. Net Sales stood at Rs 2,917.97 crore in the quarter, up 17.7% from Rs. 2,479.18 crore in the year-ago period. EBITDA rose 23.63% to Rs. 481.86 crore in Q2FY22, from Rs 389.76 crore in the same period last year.
Kalyan Jewellers: The company registered a consolidated profit after tax of Rs 68.77 crore in Q2FY22, compared with a consolidated net loss of Rs 136.12 crore in the year-ago period. The profit was attributed to higher sales as economy rebounded. Its operating revenue jumped 60.65% to Rs 2888.69 crore, compared with Rs 1798.05 crore in the corresponding period last fiscal.
Alembic Pharma: The drugmaker posted a 2% rise in its consolidated net profit to Rs 169.3 crore in Q2FY22, from Rs 164.5 crore in Q1FY22. Revenue fell 2.5% to Rs 1292.3 crore in the reported quarter, as against Rs 1326 crore in Q1FY22. Ebitda was up 9% quarter-on-quarter to Rs 257.2 crore from Rs 235.9 crore in the previous quarter of the current fiscal.
Strides Pharma Science: Shares of the company fell 8.58% after the company reported a consolidated net loss of Rs 162.6 crore in Q2FY22, compared with a net loss of Rs 205.2 crore in the previous quarter of FY22. Revenue rose to Rs 721.47 crore in Q2FY22, as against Rs 688.7 crore in Q1FY22.