Coffee Day shares up 6% & More on Today’s Market

Hindustan Copper share price falls 6%

On August 16, Hindustan Copper experienced a sharp decline of 6 percent in its shares' value due to disappointing first-quarter financial results. By 11:35 am, the stock had dropped by 6.69 percent to reach Rs 142.20 on the NSE. The state-owned company recorded a significant 17.54 percent decrease in net profit, amounting to Rs 47.28 crore, during the June quarter due to heightened expenditures. Despite this, there was a notable increase in total income from Rs 359.13 crore to Rs 384.73 crore, marking a nearly 7 percent rise from the previous year. The expenses for the quarter surged to Rs 322.53 crore compared to Rs 280.76 crore in the corresponding period, reflecting the financial challenges faced. Looking ahead, the volatility of Copper prices is anticipated due to sluggish global demand and fluctuations in the US dollar. However, an improvement in Copper prices is foreseen by the close of 2023.

Uno Minda reaches to 52-week high

On August 16, Uno Minda achieved a 52-week peak of Rs 624.90 following its announcement of inaugurating two facilities aimed at producing components and systems for electric vehicles (EVs). These manufacturing plants situated in Farukhnagar and Bawal, Haryana, will cater to a range of components for electric two and three-wheelers. The renowned multinational automotive company, known for its diverse product portfolio including switches, lighting, seating, castings, and acoustics, revealed that the Farukhnagar plant, established in collaboration with Germany's FRIWO AG, will manufacture items such as on-board chargers, off-board chargers, motor control units, DCDC converters, and battery management systems. Meanwhile, the Bawal plant, operating under its subsidiary Uno Minda Buehler Motor, will focus on crafting traction motors destined for electric two and three-wheelers.

Coffee Day shares up 6%

On August 16, the shares of Coffee Day Enterprises Ltd (CDEL) saw a nearly 6 percent surge in the morning as investors celebrated the Café Coffee Day chain operator's return to profitability during the June quarter. The company disclosed a net profit of Rs 21 crore, a positive shift from the Rs 17 crore loss recorded in the same period last year. Notably, the revenue experienced an 18 percent increase, reaching Rs 247 crore, while the earnings before interest, tax, depreciation, and amortization (EBITDA) nearly doubled, reaching Rs 63 crore. Meanwhile, the subsidiary Coffee Day Global Limited exhibited a 23 percent year-on-year rise in net revenue, totaling Rs 233 crore, with EBITDA showing an impressive 58 percent surge, amounting to Rs 26 crore. The coffee maker's average sales per day (ASPD) improved from Rs 19,537 to Rs 20,824 year-on-year, and the same store sales growth (SSSG) stood at a notable 7.6 percent for the quarter.

Infosys top Nifty gainer after $1.6 billion Liberty Global deal

In the morning session of August 16, Infosys emerged as the leading gainer within the Nifty index, propelled by its acquisition of a substantial €1.5-billion ($1.6 billion) contract from Liberty Global. The deal entails the development and expansion of entertainment and connectivity platforms for the digital communications company. As of 10 am, Infosys shares exhibited a 1.30 percent increase, reaching Rs 1,411 on the NSE. This announcement marks Infosys' third significant contract this year. CEO Salil Parekh expressed enthusiasm about introducing Infosys Topaz to enhance AI-centric capabilities, complementing the existing cloud-driven digital infrastructure built through Infosys Cobalt for Liberty Global.

Conclusion

In today's market update, the Indian stock market displayed a mixed performance with the Nifty 50 and Sensex edging slightly higher, closing at 19,465.00 (up 0.16%) and 65,539.42 (up 0.21%) respectively. However, the Nifty Bank index witnessed a decline of 0.33%, attributed to losses in banking stocks such as HDFC Bank, ICICI Bank, and State Bank of India. The broader market indices also ended with a mixed tone, as the Nifty Midcap 100 index closed higher while the Nifty Smallcap 100 index closed lower. In summary, the market showcased mixed performance with the Nifty 50 and Sensex gaining modestly, while individual companies like Hindustan Copper, Uno Minda, Coffee Day Enterprises Ltd, and Infosys experienced noteworthy developments driving their respective stock movements.

Source - Moneycontrol