Indian equity markets are likely to open higher on Friday. SGX Nifty was up with gains signalling that Dalal Street is headed for a positive start, while global cues were mixed after the NASDAQ ended with gains while S&P 500 and Dow Jones moved lower. “While most sectors are trading in tandem with the benchmark and drifting lower, defensive like FMCG and pharma are still holding strong. Participants should maintain a cautious stance and align their positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking. In the previous session, benchmark index S&P BSE Sensex opened with gains but bears took over later forcing the index to closed at 53,416, down 98 points. Nifty 50 ended at 15,938.

Stocks in focus on 15 July, Friday

ACC: The cement company reported a 60 percent on-year decline in consolidated profit at Rs 227 crore in quarter ended June 2022 dented by rising global fuel costs and related inflationary impacts. EBITDA fell 51 per cent YoY to Rs 426 crore and margin declined by 1,310 bps to 9.7 per cent in Q2CY22. Revenue increased by 15 per cent YoY to Rs 4,393 crore with cement sales volumes up 10.5 per cent at 7.56 million tonnes and ready mix concrete sales volumes up 43.1 percent at 0.83 million cubic metres.

Cipla: Drugmaker’s subsidiary Cipla Health Limited (CHL) has signed definitive agreements for the acquisition of Endura Mass. According to the company’s press statement, Endura and all other associated products would be part of the acquisition. CHL will initiate the distribution and marketing of the Endura Mass pending the closure of the proposed acquisition. Endura Mass has been sold in India for 20 years to consumers actively looking to gain weight.

Angel One: Angel One has reported a 50 per cent rise in consolidated net profit at Rs 181.50 crore for the quarter ended June 2022 as against Rs 121.37 crore posted in the same year-ago period. Total income surged 45 per cent to Rs 686.53 crore (Rs 474.48 crore). The company reported EPS of Rs 21.33 for the period ended June 30, 2022 as compared to Rs 14.58 for the period ended June 30, 2021. Meanwhile, the board of directors has declared Rs 7.65 a share as the first interim dividend for FY23. The company has fixed July 22 as the record date for determining eligibility of shareholders to receive the dividend.

Bharti Airtel: In line with the partnership announced at the beginning of this calendar year, Bharti Airtel on Thursday approved allotment of 71 million shares to tech major Google at an issue price of Rs 734 per share. Google will hold 1.2% of total post-issue equity shares of the company, Bharti said in a regulatory filing. The company’s special committee of directors for preferential allotment approved the same, it added. In January, Google had said that it will invest $1 billion in Bharti Airtel. Of this, $700 million (Rs 734 per share) will be for picking up 1.28% stake in the telecom service provider, while the rest will be for multi-year plans related to devices and other programmes around digital inclusion.

Tata Elxsi: The company clocked a robust 63 percent year-on-year growth in profit at Rs 184.7 crore for quarter ended June 2022 on strong operating profit and topline growth. Revenues from operations at Rs 725.9 crore grew by 30 percent YoY and EBITDA increased 58.8 percent YoY to 238.2 crore in Q1FY23.

Tata Steel Long Products: The company posted loss of Rs 331 crore in the quarter ended June 2022 against profit of Rs 331.6 crore impacted by loss at operating level due to higher raw material cost and finance cost. However, revenue increased by 18.2 percent YoY to Rs 1,994 crore in Q1FY23.

Q1 Results today: Jindal Steel & Power, Federal Bank, Aditya Birla Money, Deep Diamond India, Den Networks, Integrated Capital Services, Just Dial, Kesoram Industries, Lloyds Metals and Energy, L&T Technology Services, Oberoi Realty, and Opto Circuits (India) will be in focus ahead of quarterly earnings on July 15 while HDFC Bank, Bharat Electronics, ICICI Prudential Life Insurance Company, Netlink Solutions, Pil Italica Lifestyle, and Welcure Drugs & Pharmaceuticals will be in focus ahead of their quarterly earnings on July 16.