Tag: q1fy22

The Indian benchmark indices started weak today(26th July 2021), in tune with the other Asian markets, dragged by financials. The headline S&P BSE Sensex tumbled 147 points, or 0.28 percent, to quote at 52,828 levels in early deals while the broader Nifty50 held above the 15,800-mark at 15,807 levels, down 47 points. Shares of RIL dipped 0.35 percent after the Mukesh Ambani-led Reliance Industries (RIL) reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22), down 7.2 percent from Rs 13,233 crore posted in the same period last year (Q1FY21). However, last year's June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 percent growth in adjusted profit after tax over last year's Rs 8,267 crore. Read more

The present Covid-19 pandemic situation across key economic hubs will dent corporate earnings in the June 2021 quarter (Q1FY22), but the markets will take this in their stride and digest them as a one-time hit look forward to growth as the economy normalises after this wave, believe analysts. They expect the second wave in India to peak by June. Economic normalisation, is likely by August – September 2021 according to them. Economic pain, most analysts believe, will be restricted to the second quarter of this fiscal (Q2FY22) as the stringency of the lockdown measures is relatively low as compared to the first wave in 2020. Yet, leading brokerages and rating agencies, including Moody’s, Nomura, Crisil, QuantEco Research, and CARE Ratings, have cut India’s GDP growth estimates for FY22. Read more