The market showed smart recovery from the day’s low and closed with moderate losses on the first day of the new monthly F&O series, July 1, extending downtrend for the second consecutive session. Oil & gas stocks pulled the market down after a windfall gain tax was imposed on oil producers but the buying in FMCG, IT, banking, and financial services stocks curtailed losses significantly. The BSE Sensex fell 111 points to 52,908, while the Nifty50 declined 28 points to 15,752.
Hemisphere Properties India
Tata Sons Pvt Ltd has sold 59.85 lakh equity shares or a 2.1 per cent stake in the company via open market transactions during June 28-29. With this, Tata Sons’ shareholding in the company reduced to 11.97 per cent, down from 14.07 per cent earlier.
Glenmark Pharmaceuticals
The USFDA has issued Form 483 with one observation after an inspection at the company’s formulation manufacturing facility based out of Aurangabad, India between June 27 and July 1, 2022.
Hero MotoCorp
The leading two-wheeler maker sold 4.85 lakh units of motorcycles and scooters in June 2022, a growth of 3.3 per cent over 4.69 lakh units sold in the corresponding month of the previous fiscal. During the quarter ended June 2022, it sold 13.90 lakh units, a robust double-digit growth of 35.7 per cent over 10.25 lakh units sold in same period last year.
CSB Bank
The private sector lender recorded a 16.16 per cent year-on-year growth in gross advances at Rs 16,332.8 crore for the quarter ended June 2022 and total deposits grew by 8.65 per cent to Rs 20,266.8 crore during the same period. Advances against gold & gold jewellery at Rs 7,099.33 crore, which is 43 per cent of total advances, increased by 26.37 per cent YoY in Q1FY23.
Eicher Motors
The company sold 61,407 units of Royal Enfield in June 2022, a growth of 43 percent over 43,048 units sold in same month last year, which included exports of 11,142 units that grew by 54 per cent YoY. During the quarter, Eicher sold 1,87,205 units of Royal Enfield, up 51 per cent over 1,23,640 units sold in same quarter previous year.
Ashoka Buildcon
The joint venture led by Ashoka Buildcon emerged as ‘the lowest bidder’ for construction and maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur. The project cost is Rs 611 crore and construction period is 18 months from commencement date. The company has a joint venture with Cube Construction Engineering, wherein it holds 65 percent stake.
TVS Motor Company
The company registered a growth of 22 per cent in June 2022 with sales of 3,08,501 units as against 2,51,886 units in June 2021, including two-wheelers sales of 23 per cent YoY at 2,93,715 units in June 2022. Total exports grew by 8 per cent YoY to 1,14,449 units in June 2022.
Mahindra & Mahindra
The automotive company sold 54,096 vehicles in June 2022, a growth of 64 percent over 32,964 vehicles sold in same month last year, while exports for the month were at 2,777 vehicles, increasing by 7 per cent YoY. In June 2022, it sold 41,848 tractors, a fall of 13 per cent compared to 48,222 units sold in corresponding month last year.
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