At 14:31 IST, the barometer index, the S&P BSE Sensex, surged 198 points or 0.37% at 54,568.09. The Nifty 50 index rose 47.4 points or 0.29% at 16,306.60.
Broader markets underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 0.29% while the S&P BSE Small-Cap index lost 0.59%.
Sellers outnumbered the buyers. On the BSE, 1,020 shares rose and 2,157 shares fell. A total of 119 shares were unchanged.
Buzzing Index:
The Nifty Realty index declined 1.55% to 405.45, falling for second trading session in a row. The realty index lost 3.2% in two days.
Indiabulls Real Estate (down 4.2%), Oberoi Realty (down 2.69%), Prestige Estate (down 2.57%), Phoenix Mills (down 1.85%), Godrej Properties (down 1.79%) and Sobha (down 1.43%) were top losers in realty space.
Earnings Impact:
Caplin Point Laboratories added 2.72% to Rs 883.95 after the company's consolidated net profit increased by 31.1% to Rs 71.53 crore on a 25.6% rise in total revenue to Rs 309.65 crore in Q1 FY21. As compared with Q4 FY21, the company's net profit and total revenue has risen by 5.3% and 7.5%, respectively. EBITDA improved by 30.4% to Rs 101.82 crore in Q1 FY22 from Rs 78.09 crore in Q1 FY21. EBITDA margin was at 32.9% as on 30 June 2021 as against 31.7% as on 30 June 2020. Profit before tax in Q1 FY22 stood at Rs 89.52 crore, up by 30.4% from Rs 68.62 crore in Q1 FY21.
Hikal jumped 9.29% to Rs 603.75 after the company's consolidated net profit increased by 3.3 times to Rs 50.54 crore in Q1 FY22 from Rs 15 crore in Q1 FY21. Total revenue from operations increased by 29.5% YoY to Rs 456.78 crore in the first quarter. On the segmental front, Pharmaceuticals revenue was Rs 274.07 crore (up 28.3% YoY) and Crop protection revenue was Rs 182.71 crore (up 31.3% YoY) in Q1 FY22. Profit before tax in Q1 FY22 stood at Rs 68.39 crore, which is higher by 3x as compared with Rs 22.79 crore in Q1 FY21.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 74.1975 compared with its previous closing of 74.1950.
MCX Gold futures for 5 August 2021 settlement fell 0.19% to Rs 47,801.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 92.287.
The yield on 10-year benchmark federal paper rose to 6.209% from its previous close of 6.199%.
In the commodities market, Brent crude for October 2021 settlement fell 38 cents or 0.54% to $70 a barrel.
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