Vedanta, DRL, Sun Pharma, Indian Oil, Ashok Leyland, and Others

The market continued a strong rally for the second consecutive session, with benchmark indices closing at a three-month high on July 28, the July monthly M&O contract expiration. The rally was supported by purchases in several sectors after the Federal Reserve raised interest rates by 75 bps, which was within expected lines. The BSE Sensex rose 1,041.5 points or 1.87 percent to 56,858, while the Nifty50 rose 288 points.

Results today

HDFC, NTPC, Sun Pharma, Cipla, Indian Oil Corporation, Ashok Leyland, DLF, Emami, Exide Industries, Nazara Technologies, Piramal Enterprises, CARE Ratings, CarTrade Tech, Cholamandalam Investment, CreditAccess Grameen, Deepak Fertilisers, Easy Trip Planners, 3i Infotech , Great Eastern Shipping, GMR Infrastructure, Godrej Agrovet, Heritage Foods, JK Paper, Mahindra Logistics, Metro Brands, Rain Industries, Route Mobile, Strides Pharma Science, Star Health and Allied Insurance Company, Torrent Pharmaceuticals, VST Industries and Zydus Wellness will be sharp for June’s quarterly results on July 29.

Stocks in focus

dr. Reddy’s Laboratories

The pharmaceutical company posted a 108 percent year-over-year growth in consolidated profit of Rs 1,187.60 crore for the quarter ended June 2022, supported by healthy operating performance and higher other revenues. Sales grew 6 percent year-on-year to Rs 5,215.40 crore in Q1FY23 thanks to lukewarm growth in North America and Europe, but growth in India was strong at 26 percent year-on-year.

Jubilant FoodWorks

The company acquired a 40 percent stake in Roadcast Tech Solutions Private Limited, which provides a logistics platform for managing last-mile delivery activities. The purchase cost is Rs 14.98 crore.

industrial towers

Bimal Dayal has resigned as the company’s general manager and CEO. He has decided to pursue opportunities outside of Indus Towers.

TVS Motor Company

The two- and three-wheeler maker reported a consolidated profit of Rs 296.75 crore for the quarter ended June 2022, down from a loss of Rs 14.72 crore in the same period last year, supported by sales and operating performance. Q1FY22 performance was impacted by the second wave of COVID. Revenue grew 56 percent YoY to Rs 7,315.70 crore in Q1FY23. The board of directors has approved the issuance of non-convertible bonds (NCDs) with a total value of up to Rs 125 crore on a private placement basis.

Chalet hotels

The company has received a contract from Delhi International Airport Limited (DIAL) to develop a hotel in the T3 terminal of Indira Gandhi International Airport (IGIA). With this, Chalet enters the North Indian market. The upcoming terminal hotel will be the ninth hotel in the country and the first in northern India. The hotel will have 350-400 rooms in the 5-star deluxe area. The hotel is expected to be commissioned in FY26 or earlier. Chalet posted a consolidated profit of Rs 28.5 crore for the quarter ended June 2022, compared to a loss of Rs 41.66 crore in the same period last year due to the second wave of COVID-19. Operating income grew 275.2 percent to Rs 253 crore in the same period.

SBI Life Insurance Company

The life insurance company posted a year-over-year profit growth of 17.78 percent at Rs 262.85 crore for the quarter ended June 2022. Net premium income grew significantly at 32.76 percent year-on-year to Rs 11,036 crore compared to the corresponding period of the last fiscal year. , but investment income was negative Rs 6,405.66 crore for the June FY23 quarter against an annualized income of Rs 7,409.91 crore.


The company posted a six percent year-over-year increase in consolidated profit of Rs 5,593 crore for the quarter ended June 2022, impacted by higher input costs and power and fuel costs. Revenue grew 35 percent year-on-year to Rs 39,355 crore during the same period.


The transportation infrastructure consulting and engineering firm posted an 85.8 percent year-over-year profit increase from Rs 145 crore for the quarter ended June 2022 and its revenue grew 68.8 percent over the same period to Rs 637 crore. RITES announced an interim dividend of Rs 4 per share.

Sapphire Foods India

Nippon Life India Trustee purchased 21.23 lakh shares or a 3.34 percent stake in the company through open market operations during the period from January 7 to July 26. This increased the stake in Sapphire to 5.03 percent, from 1.69 percent earlier.

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