The Indian equity benchmarks ended marginally higher on May 22, driven by a rally in pharma, IT and metal names. The Sensex closed 234.00 points or 0.38% higher at 61,963.68, and the Nifty gained 111 points or 0.61% to end at 18,314.40. About 1,721 shares advanced, 1,783 declined and 168 remained unchanged.
Zomato | CMP Rs 62.30| Shares of Zomato Ltd closed 3 percent lower squandering the gains made earlier in the day. The food aggregator narrowed losses in Q4 and said it hoped to post profit within the next four quarters. Zomato’s consolidated net loss for the fourth quarter narrowed to Rs 188.2 crore from Rs 359.7 crore in the year-ago period. Its revenue from operations jumped 70 percent to Rs 2,056 crore from Rs 1,211.8 crore a year ago.
Som Distilleries and Breweries | CMP Rs 203.30 |The share price of Som Distilleries and Breweries closed nearly 7 percent higher after hitting a record high of Rs 216.70 intraday following the announcement of a strategic tie-up with Carlsberg India for its Odisha plant. Som’s plant in Odisha will be utilised partly to produce a wide range of world-class beverages, including popular brands from Carlsberg India’s portfolio, the company said.
Divi’s Laboratories | CMP Rs 3255.10 | Shares of Divi’s Laboratories shed initial jitters and gained 5 percent as investors reacted positively to the sequential improvement in the drugmaker’s quarterly earnings, released over the weekend. Dragged down by a higher base of COVID sales of Molnupiravir and elevated input costs, the company’s net profit for the January-March quarter plunged 63.89 percent on year to Rs 318.79 crore. Sequentially, however, the company’s non-COVID custom synthesis projects played a significant role in driving a 2.53-percent increase in itsbottomline.
Siemens | CMP Rs 3404 |Shares of Siemens Ltd fell over 8 percent after the firm said its board approved the sale of low-voltage motors and geared motors businesses to a Siemens AG subsidiary, Siemens Large Drives India, for Rs 2,200 crore.
Godawari Power & Ispat | CMP Rs 368.90 |The shares of Godawari Power & Ispat slumped over 4 percent, reacting to a disappointing performance in the March quarter of the financial year 2022-23. The company’s consolidated revenue from operations declined to Rs 1,316.59 crore from Rs 1,437.93 crore in the year-ago quarter. Profit from continuing operations came in at Rs 169.57 crore in the March quarter, down from Rs 406.52 crore in the year-ago period.
Narayana Hrudayalaya | CMP Rs 826.80 |Shares of Narayana Hrudayalaya gained 7 percent after the company reported a threefold on-year rise in net profit at Rs 173.2 crore for the January-March period. The surge in net profit was attributed to growth across flagship units, old hospitals as well as newer hospitals, in addition to the increased contribution from international patients.
Glenmark Pharmaceuticals | CMP Rs 605 | Shares of Glenmark Pharma plunged around 3 percent after the company reported a loss in the fourth quarter. The drugmaker reported a net loss of Rs 428.30 crore for the quarter ended March, dragged down largely by an exceptional loss of Rs 799.7 crore on account of settlement of the litigation related to generic of Zetia in the US.
VRL Logistics | CMP Rs 737.70 | Shares of VRL Logistics Ltd gained over 12 percent after the company reported a threefold surge in net profit for the March quarter. VRL Logistics reported a 244 percent surge in net profit to Rs 193.18 crore for the March quarter, up from Rs 56.19 crore in the same quarter in the previous year. The firm’s total income advanced 17.04 percent to Rs 702.88 crore in the quarter from the year-ago period.
Cochin Shipyard | CMP Rs 486.90 |Shares of Cochin Shipyard Ltd closed almost 10 percent lower from the previous day after the ship-building and repairs company’s consolidated revenue declined 50 percent year on year to Rs 600 crore, as it declared losses of Rs 64 crore on an operating level. Net profitability was down 86 percent to Rs 39 crore during the quarter. The shipbuilding segment revenue was down 55 percent to Rs 436 crore and reported a loss of Rs 88 crore at the operating level. The ship repair segment revenue fell 42 percent to Rs 146 crore.
Elgi Equipments | CMP Rs 552.70 |Shares of Elgi Equipments surged 17 percent after the air compressor manufacturer posted a 133 percent year-on-year growth in consolidated profit at Rs 170.1 crore for the March FY23 quarter, boosted by one-off gains. Patton’s Inc, USA, a subsidiary of Elgi Compressors USA Inc, recognised a net gain of Rs 105.38 crore ($13.08 million) on the completion of the sale of land and building held in Charlotte, North Carolina, US.