Domestic benchmark indices continue to move higher while broader markets witness a correction. Nifty and Sensex scaled fresh all-time highs yesterday while midcap and smallcap indices on NSE were down 2% or more. On the charts, Nifty formed a small positive candle was formed with upper and lower shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Technically, this action signal a formation of high wave-type candle pattern. Normally, such high wave formation after a reasonable upmove or decline more often act as a reversal. But, having formed this pattern amid sideways range movement, the significant predictive value is ruled out,” he added.
Zomato: The newly listed Food-tech company could be under the scanner today after reporting its quarterly results for the first time after listing on the stock exchanges. Zomato reported a net loss of Rs 356 crore in the first quarter of the financial year, against Rs 99.8 crore in the same period last year. The dood delivery platform’s revenue from operations increased to Rs 844.4 crore on a consolidated basis.
Jindal Steel and Power: Jindal Steel and Power (JSPL) on Tuesday reported a near tenfold rise in its consolidated net profit at Rs 2,516 crore for the April-June quarter. Consolidated net revenues came in at Rs 10,610 crore, up 63% year-on-year.
Reliance Infrastructure: Reliance Infrastructure on Tuesday reported a net loss of Rs 95.15 crore for the first quarter of the –year. Its total consolidated income during the quarter under review rose to Rs 4,623 crore as against Rs 3,787 crore in the same period a year ago.
Kalyan Jewellers: Kalyan Jewellers on Tuesday reported a consolidated loss of Rs 51 crore for the April-June quarter of the current financial year as against a consolidated loss of Rs 86 crore in the comparable period of the last fiscal year. Consolidated revenue grew 109% in Q1FY22 compared to Q1FY21, primarily driven by robust sales momentum across stores both prior to and post lockdowns in the quarter, as well as a low base in the last financial year.
Coal India: The PSU company reported a 52% jump in its consolidated net profit for the first quarter of the current fiscal at Rs 3,174.14 crore. Coal India’s net profit during the first quarter of the last fiscal was Rs 2,077.51 crore, mainly hit by lower demand from the power sector in the wake of Covid-19.
Brookfield REIT: The Real Estate Trust reported an increase in Operating Lease Rentals to Rs 1.6 billion, 7.3% on-year increase. Brookfield generated NDCF of Rs 1.9 billion or Rs 6.42 per unit. Brookfield managed to collect 99% of contracted rentals, while renewing 169,000 sf space during the quarter.
Results today: Aster DM Healthcare, Bata India, Cadila Healthcare, CESC, Cumins India, Endurance Technologies, Lemon Tree Hotels, New India Assurance, and Pidilite Industries will announce their quarterly results today.