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Analysts have cut FY23 earning estimates by over 20 per cent. They see a near-term hangover in terms of margin and USFDA observations but said further downside is capped as valuations have turned reasonable after the recent correction.

The stock quoted a 52-week high price of Rs 1503.7 and a 52-week low of Rs 1037.8.

Adani Wilmar reported a 10 per cent year-on-year (YoY) rise in net profit at Rs 196 crore on a 30 per cent YoY jump in net sales at Rs 14,732 crore. Volume for the quarter rose 15 per cent YoY to 1.19 million tonnes. Ebita margin for the quarter fell to 3.3 per cent from 3.8 per cent YoY.

The distributor of Apple products reported a net profit of Rs 149.85 crore in the quarter ended on June 30, 2022, which is 57 per cent higher than the bottomline of Rs 95.59 crore reported in the same quarter the previous year.

JM Financial Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 5859.89 Crore) operating in Financial Services sector.

As of 30-Jun-2022, promoters held 0.0 per cent stake in the company, while FIIs held 37.27 per cent and domestic institutional investors had 32.58 per cent.

Analysts were anticipating 17,500 to act as a strong resistance, where the market could see correction or a mild consolidation after six days of back-to-back gains. Ahead of the opening bell, Sameet Chavan of Angel One had noted that the 17,450-17,500 range was still a sturdy wall for the bulls, and only a decisive closure above the same could trigger fresh longs.

A total of 9,748 shares changed hands on the counter till 12:53PM (IST)

The Nifty Realty index closed 0.76 per cent down at 441.6.

At 9.22 am, the BSE Sensex was trading 310 points or 0.53 per cent higher at 58,660. Nifty50 was trading at 17,475, up 88 points or 0.5 per cent. The midcap and smallcap indices edged up to 0.80 per cent each.