At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 110.96 points or 0.2% at 54,258.95. The Nifty 50 index was down 32.9 points or 0.2% at 16,225.55.
The broader market saw more selling than frontline indices. The S&P BSE Mid-Cap index was down 0.48% while the S&P BSE Small-Cap index declined 1.08%.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 704 shares rose and 2,235 shares fell. A total of 92 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 200,193,983 with 4,255,638 global deaths.
India reported 411,076 active cases of COVID-19 infection and 426,290 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Results Today:
GAIL India (down 0.07%), Cipla (up 0.39%), Adani Power (down 0.83%), Aditya Birla Capital (down 2.2%), Indiabulls Housing Finance (down 1.97%), Bajaj Consumer Care (down 0.23%), Birla Corporation (up 0.61%), Brigade Enterprises (down 1.39%), Cera Sanitaryware (up 0.17%), Edelweiss Financial Services (down 3.65%), Escorts (down 0.71%), Gujarat Gas (up 0.35%), Hikal (down 4.06%), Honeywell Automation India (up 0.6%), Ipca Laboratories (down 0.52%), NCC (down 2%), Narayana Hrudayalaya (up 1.14%), Prince Pipes and Fittings (up 0.48%), Quess Corp (up 1.94%), REC (down 0.71%) and Thermax (up 0.77%) are some of the companies that will announce their quarterly results today.
Earnings Impact:
Hindustan Petroleum Corporation (HPCL) slipped 2.85% to Rs 264 after the company's standalone net profit declined by 36.2% to Rs 1,795 crore in Q1 FY22 from Rs 2,813.83 crore in Q1 FY21. Net sales increased by 92.5% YoY to Rs 72,166.39 crore during the quarter. As compared with Q4 FY21, the company's net profit and net sales have fallen by 40.5% and 3.2%, respectively. Total expenses surged 76% to Rs 75,560.66 crore in Q1 FY22 from Rs 42,941.72 crore in Q1 FY21. The company incurred a loss of Rs 71.35 crore during the quarter on account of foreign currency transactions and translations. Profit before tax in Q1 FY22 stood at Rs 2,396.85 crore, down by 35.7% from Rs 3,728.41 crore in Q1 FY21. Average gross refining margin (GRM) during the quarter ended 30 June 2021 was $ 3.31 per barrel as against $0.04 per barrel during the corresponding quarter of the preceding financial year. Crude throughput declined by 36.8% to 2.51 million metric tonnes (MMT) in Q1 FY21 from 3.97 MMT in Q1 FY21. It is lower by 42.8% as compared with 4.39 MMT in Q4 FY21.
Apollo Tyres fell 1.11%. The company's consolidated net profit stood at Rs 127.79 crore in Q1 FY22 as compared to a net loss of Rs 134.58 crore in Q1 FY21. Consolidated net sales soared 59.1% to Rs 4584.47 crore in Q1 FY22 from Rs 2881.74 crore in Q1 FY21. Pre-tax profit was at Rs 161.36 crore in Q1 FY22 as against a pre-tax loss of Rs 162.20 crore in Q1 FY21
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