Sensex Falls 200 Points, Nifty At 16,200

Sensex, Nifty fell over 0.50% on Wednesday. Asian stocks were mixed Wednesday as investors awaited a key report on U.S. inflation. Data out Wednesday are expected to show prices paid by U.S. consumers grew in July at the slowest pace in five months, though remain elevated.

Sensex Falls 200 Points

Treasuries and the dollar were steady. US stocks closed higher as market sentiment was boosted by the U.S. Senate passing a $1 trillion bipartisan infrastructure bill. Trent Ltd’s June quarter results (Q1FY22) show that the recovery being witnessed following the easing of the first lockdown last year has paused.

Sensex: After all, standalone revenues declined as much as 58% vis-à-vis the March quarter. Of course, year-on-year growth numbers were exceptionally high given the low base. The company’s fashion business (Westside and Zudio) operated for just 46% of the trading days, although this was up from 26% in Q1FY21. This measure stood at 80% for the March quarter.

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Sensex Falls 200 Points

“Lupin Ltd reported top line growth of 22.1% at ₹4,237.3 crore as compared to ₹3,468.6 crore in Q1FY21. Company reported ebitda of ₹992.6 crores, up by 86% as compared to ₹531 crores in Q1FY21 and ebitda margins of 23.4%, up by 810 bps. Profit before tax was up by 175% at ₹750 crore as compared to ₹272.4 crore. Lupin has reported good growth in topline as well as bottom line, but below the market expectations as Q1FY21 was the low base for the company due to covid related disruptions. Company has reported a dip in gross profit margins from 65% to 63.9% quarter-on-quarter. Domestic market has done well for the company, domestic market sales were up by 27.3% year-on-year and 27.2% quarter-on-quarter. We expect the domestic market to continue its momentum for the next couple of quarters. We have a neutral outlook on Lupin Ltd.”

Sensex Falls 200 Points, Nifty At 16,200 via @MasterMindUpdate
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