Market Bizzz

U.S. bond yields gained, lifting the dollar to its highest since July 7, after data on Friday showed producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year.

Shares in the pharma and automotive sectors were among those that fit the bill. Fund managers lapped up pharma given the recent underperformance, lower input prices and attractive valuations. With first-quarter results encouraging, they bought into stocks like Dr Reddy’s Laboratories, Aurobindo Pharma, and Suven Pharmaceuticals.

Supply cuts by Saudi Arabia and Russia, part of the alliance between the Organization of the Petroleum Exporting Countries and their allies, or OPEC+, are expected to erode oil inventories in the rest of this year, potentially driving prices even higher, the International Energy Agency said in its monthly report on Friday.

With the product pipeline continuing to advance, and execution of growth drivers proceeding as planned, the company is confident that its fundamental strengths position it to create an upward trajectory, Vice-Chairman and Managing Director K Nithyananda Reddy said.

Some of the IPOs, the hospital IPO Yatharth that you talked about are ones which really bring in value to the table for many of the investors. Even SBFC is kind of a good IPO in a sector more than the company itself, it is a sector which is taking prominence particularly where we are coming out of a COVID situation where the credit growth is expanding by leaps and bounds, according to Mahantesh Sabarad, Market Expert

Commenting on the result, Managing Director Suvamoy Saha said: “It has been an endeavour to bring salience to under-indexed areas within batteries and flashlights and over here our teams have made good progress.

The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 40.7% YoY to Rs 199 crore. The EBITDA margins expanded 250 basis points YoY to 25.1%

The net profit was pulled down by Apollo Healthco’s digital health platform 24×7 that reported a loss of Rs 83 crore. Apollo said Healthco is on track for break even in Q4 FY24.