Men look up at an electronic ticker board that indicates stock figures at the Bombay Stock Exchange (BSE) in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Snap Two-Day Fall As Focus Shifts Back To Earnings 

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Closing Bell: Sensex, Nifty Snap 2-Day Decline Led By Sun Pharma

Indian equity benchmarks snapped their two-day decline as focus shifted back to earnings after Sun Pharma and Grasim beat Bloomberg consensus estimates in June quarter.

The S&P BSE Sensex rose 0.55 percent or 207 points to 37,852 and the NSE Nifty 50 index climbed 0.7 percent or 79 points to 11,435.

Thirty-five of the Nifty 50 companies have reported in-line or better-than-estimated earnings in June quarter, data compiled by BloombergQuint showed.

Fifteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Healthcare index’s 2.5 percent gain. On the other hand, the S&P BSE Capital Goods index was top loser, down 0.5 percent.

SpiceJet Falls On Swinging To Loss In June Quarter

Shares of the Gurugram-based budget airline operator fell as much as 3.8 percent to Rs 86 after it reported loss in June quarter.

Key earnings highlights:

  • Net loss at Rs 38.06 crore versus profit of Rs 175.23 crore (YoY)
  • Revenue up 18.5 percent at Rs 2,199.70 crore versus Rs 1856.13 crore (YoY)
  • Fuel cost up 52 percent at Rs 812.44 crore versus Rs 534.37 crore (YoY)
  • Aircraft lease rentals at Rs 280 crore versus Rs 231 crore (YoY)
  • Ebitdar down 21.4 percent at Rs 363.2 crore versus Rs 462.3 crore (YoY)
  • Ebitdar margin at 16.2 percent versus 24.7 percent (YoY)

IDBI Bank’s Gross Bad Loans At 30.8%; Shares Falls

Shares of the Mumbai-based public-sector lender fell as much as 3.7 percent to Rs 58.20 after its asset quality worsened in June quarter.

Key earnings highlights:

  • Net interest income up 16 percent at Rs 1,638.62 crore versus Rs 1,401.9 (YoY)
  • Net loss widens to Rs 2,410 crore versus loss of Rs 853 crore (YoY)
  • Gross non-performing assets as a percentage of total advances at 30.78 percent versus 27.95 percent (QoQ)
  • Net non-performing assets as a percentage of total advances at 18.76 percent versus 16.69 percent (QoQ)
  • Provisions for bad loans at Rs 4,602.55 crore versus 10,773 crore (QoQ)

Grasim Industries Reports Highest Quarterly Profit In Nearly Nine Years, Shares Rise

Grasim Industries Ltd. reported its highest quarterly profit in nearly nine years and surpassed estimates. Shares of Grasim fluctuated between gains and losses to trade at Rs 983 apiece as of 2:35 p.m.

Key earnings highlights (Q1, YoY):

  • Net profit up 85 percent at Rs 642.5 crore.
  • Revenue up 74.8 percent at Rs 4,789 crore.
  • Ebitda up 90 percent at Rs 1,054 crore.
  • Margin at 22 percent versus 20.3 percent.

Sun Pharma Rises The Most In Nearly Two Months After Q1 Profit Beats Estimates

Shares of the country's largest pharmaceutical company rose as much as 4.5 percent, the most since June 22, to Rs 589. The company's net profit during April-June period surpassed estimates.

Key earnings highlights (Q1, YoY):

  • Revenue up 16 percent at Rs 7224 crore.
  • Net profit at Rs 982 cr vs loss of 425 crore.
  • Ebitda up 47 percent at Rs 1607 crore.
  • Margin at 22.2 percent versus 17.6 percent.