Market Bizzz

Asian stocks opened mixed on Monday as few stocks opened higher whereas Chinese and other markets opened with more losses Monday morning after muted data, which saw a surprise contraction in July, adding to worries about the world’s number two economy. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.34 per cent.

“Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange,” it said in a statement to the Hong Kong bourse.

ITC, Varun Beverages, UPL, Zomato, Max Financial, Escorts Kubota, Kansai Nerolac, The Ramco Cements, Carborundum Universal, Alkyl Amines, Castrol and PSB are among the companies that will announce their earnings for the quarter ended June 2022.

​CEO Sanjiv Chadha said demand from sectors like cement, steel and roads have been strong together with demand for international loans from Indian companies abroad.

The bank’s total income during the April-June period of 2022-23 also rose to Rs 5,777.35 crore against Rs 4,931.76 crore in the same period of 2021-22, IDFC First Bank said in a regulatory filing.

Godfrey Phillips India’s revenue from operations was up 33.49 per cent to Rs 981.83 crore during the quarter under review against Rs 735.49 crore in the corresponding period of the previous fiscal.

Its revenue from operations was up 8.05 per cent to Rs 148.15 crore during the quarter under review. It stood at Rs 137.11 crore in the year-ago period.

“The Corporation on July 29, 2022 entered into a share purchase agreement (SPA) with SBI for acquisition of 97,500 equity shares of HVCL representing 19.50 per cent of its paid-up share equity capital, at a consideration of Rs 10 per share,” HDFC said in a regulatory filing.

GMR Infrastructure in its performance highlights said Delhi Airport and Hyderabad Airports exhibited strong recovery of international traffic at 79 per cent and 87 per cent of pre-Covid levels, respectively.