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Divis lab, Cipla & Abbott India report a good set of number in the June quarter, while Siemens report a loss during the quarter. Defence stocks like BEL,HAL, Bharat Dynamics and others in focus.

Divis lab, Cipla & Abbott India report a good set of number in the June quarter, while Siemens report a loss during the quarter. Defence stocks like BEL,HAL, Bharat Dynamics and others in focus.

Divis Lab
Divis reported a record performance led by robust demand and strong execution. The company reported a 81% jump in its profit to Rs 492 crore as against Rs 272 crore for the same period last year. The company reported a better than expected revenue growth of 46% to Rs 1,747 crore. The company had clocked in a revenue of Rs 1,193 crore in the previous year. A large part of the sales growth came from volume growth.

Cipla
Cipla reported a profit of Rs 578 crore against Rs 447.2 crore for Q1FY20. The company reported better than expected revenue growth of 9% YoY to Rs 4346.2 crore. The company had clocked in a revenue of Rs 3,989 crore in the previous year. Margins also improved to 24% versus 22.7% in the same quarter last year. India business grew by 16% YoY with strong growth across three businesses while US sales grew by 14% QoQ at $135 million led by Albuterol launch.

Abbott India
Abbott reported a 54% jump in its profit to Rs 180 crore against Rs 116 crore in Q1FY20. The company reported a 7% revenue growth to Rs 1064 core. The company had clocked in a revenue of Rs 998 crore in the previous year. The margins of the company expanded by 450 basis points to 21.9% for the quarter.

Siemens
The company reported a net loss of Rs 2 crore on a consolidated basis for the June quarter. The company had reported a profit of Rs 250 crore in the previous year. The revenue from operations more than halved to Rs 1,334.6 crore during the quarter against Rs 3,216 crore. The company posted EBITDA loss of Rs 6.5 crore as against an EBITDA of Rs 355.6 crore in the same quarter last year.

Amara Raja
The net profit fell 56% YoY to Rs 64.4 crore, as against Rs 140.6 crore in Q1FY20. The company stated, performance during the quarter comes against the backdrop of severe disruptions in manufacturing, supply chain, and sales and distribution operations due to COVID-19 lockdown. Revenue from operations during the quarter under review stood at Rs 1,151.22 crore versus Rs 1,814.95 crore in the year-ago period.

Defence Stocks: Bharat Dynamics, HAL, BEL
The Defence Minister, Rajnath Singh, says that the Ministry of Defence has prepared a list of 101 items for which there will be an embargo on the imports. Contracts worth nearly 4 lakh crore will be placed upon the domestic industry within the next six to seven years.

CG Power, Tube Investments
Murugappa Group’s Tube Investments of India is to take control of CG Power, in a Rs 700-crore deal which accounts for 56% stake in the company.

Nalco
The Supreme Court has issued a contempt notice to Nalco for barring Vedanta from bidding for alumina sale.

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