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Currently inflation is high although there is some softening in raw material prices, but compared with last year’s inflation rates, there is an impact and the worst sufferers are the masses. Which is why there is an effect on Relaxo Shoes as otherwise other articles used by the middle-class categories are growing despite the inflation.”

In a year that the S&P 500 and other major indexes have slumped into bear market territory, the day will have a lot riding on it. Particularly after a recent rally in equities, which appear to have already priced in a disappointing earnings season to date, sending the Stoxx Europe 600 Index up 4.7% in July.

The profit figure missed the Rs 571 crore figure that analysts anticipated in an ET NOW poll.

Bajaj Finance reported a 159 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,596 crore, its highest ever, for the June quarter compared with Rs 1,002 crore in the same quarter last year.

A sharp fall in purchases by investors pulled global gold demand down 8% in the second quarter compared to the same period in 2021, the World Gold Council said. The Fed raised interest rates in line with the expectation that takes the cumulative June-July increase to 150 basis points, said Ravi Singh, Vice President and Head of Research, ShareIndia.

The impact would have been worse but for a 758 million pound gain made on a hedge placed by Barclays against losses arising from the error, the bank said, adding that the net hit to its financials was a 580 million pounds.

“While IT has been punished a fair bit and frankly valuations are very much attractive at 23 to 24 times FY24 PE, banking has been clearly number one in the last five years. We have seen a huge correction in the NPL cycle. That has cleaned up the banking system for the most part. Plus, the retail credit growth is still significant and that has not changed. That is the reason I like both these sectors.”

B.K. Goenka, Chairman, Welspun Group, said, “We have delivered a relatively healthy operating performance in the face of an unusually tough macroeconomic environment characterised by unprecedented high input costs, rising inflation, and subdued consumer sentiments. During the quarter under review, our Domestic Retail business.

Shell had rebounded into a $3.4-billion profit in second quarter of 2021 from a $18.1-billion loss in the same period of 2020 when it took a massive impairment charge due to the Covid-ravaged oil market.

JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 5165.72 Crore) operating in Cement sector.