Overnight Digest: Stocks likely to be in focus on July 27
Ahead of the US Federal Reserve's monetary policy outcome on Wednesday, the investors chose to remain cautious in today's trading session. The benchmark S&P BSE Sensex slipped 498 points, or 0.89 per cent, to end at 55,268, while the broader Nifty50 settled at 16,484 level, down 147 points or 0.88 per cent.
Infosys, HUL, Axis Bank squeezed between 3 per cent and 3.5 per cent, while Dr Reddy's Labs, Kotak Bank, Bajaj Auto, Wipro, Divis Labs, Eicher Motors, and Tata Consumer Products, lost over 2 per cent each. On the contrary, the Bajaj twins, JSW Steel, Grasim, and Bharti Airtel outperformed the indices and were the Top Gainers.
On the sectoral front, indices closed lower with the Nifty IT index declining nearly 3 per cent, followed by the Nifty FMCG index shedding 1.5 per cent. In the broader market, the BSE MidCap and SmallCap indices fell over 1 per cent each.
Watch out for these stocks for Wednesday's trading session -
TCS - Tata Consultancy Services has partnered with the Australian Energy Market Operator (AEMO) to design and implement a futuristic solution that powers the five-minute settlement (5MS) programme, creating a more efficient energy market in the country with better outcomes for energy producers, distributors & consumers. AEMO is an independent organisation that manages all electricity & gas systems, and markets across Australia. The shares of TCS slipped more than a per cent during Tuesday's trading session.
Sun Pharmaceutical Industries - Sun Pharma and Cassiopea, a subsidiary of Cosmo Pharmaceuticals NV announced the signing of addendums to the licence & supply agreements for WINLEVI (clascoterone) cream 1 per cent expanding the territory to include Japan, Australia, New Zealand, Brazil, Mexico, and Russia. Sun Pharma launched WINLEVI in the US market in November 2021. Under the terms of the above-referred agreements, Sun Pharma will receive the exclusive right from Cassiopea to develop & commercialise WINLEVI in Japan, Australia, New Zealand, Brazil, Mexico, and Russia. The shares of Sun Pharma have ended flat and are likely to be in focus on Wednesday.
Tanla Platforms - The shares of Tanla Platforms touched their 52-week low price of Rs 731 per share as they crunched 20 per cent during Tuesday's intraday trade. Investors sold off the shares after the company reported a weak operational performance for Q1FY23. Net profit in the quarter ended June 30, 2022, fell to Rs 100 crore as compared to Rs 140 crore in the March quarter. Meanwhile, revenue increased by 28 per cent year-over-year to Rs 800 crore.
Founder, Chairman & CEO Uday Reddy expressed, "Q1 had some operational headwinds in the enterprise business but we have our building blocks in place to accelerate our momentum in the coming quarters. We have a strong balance sheet and are excited by the opportunities ahead of us."
Ujjivan Small Finance Bank - The shares of Ujjivan Small Finance Bank has cheered investors' today by surging beyond 9 per cent after reporting Q1FY23 results. Its net profit stood at Rs 202.9 crore against a loss of Rs 233.5 crore on a YoY basis. Provisions were recorded at Rs 0.4 crore against Rs 473.2 crore on a YoY basis. NII grew 56 per cent at Rs 599.7 crore compared to Rs 384.4 crore whereas gross NPA was reported at 6.51 per cent against 7.34 per cent on a QoQ basis. At the close, the stock settled at Rs 19.1, up by 9.77 per cent.