Indian shares slipped early on August 13, led by information technology and realty stocks, while Tata Motors and cement companies reported impressive quarterly results. The market show varied performance ahead of a busy earnings season.
Indian equities were lower in early trade on August 13 as information technology and realty shares dragged on the market, with the Sensex and Nifty both in the red by 9:20 am. The broader market was mixed, while cement was the weakest sector and auto and chemicals outperformed, according to Business Standard.
The focus later in the day is on a busy earnings calendar, with Aditya Birla Real Estate, Amber Enterprises India, JSW Cement, Jubilant Foodworks, Brigade Enterprises, CESC, DCM Shriram Industries, Denta Water and Infra Solutions, Dev Information Technology, Dreamfolks Services, Dynacons Systems & Solutions, Elgi Equipments, Emami Realty, Endurance Technologies, Engineers India, Excel Industries, Fino Payments Bank and Brainbees Solutions, which owns FirstCry, all due to report first-quarter numbers. Other companies scheduled to release results include Godrej Industries, Honasa Consumer, Indraprastha Gas, Ipca Laboratories, Max Healthcare Institute and LG Electronics India.
The day’s backdrop includes a strong set of numbers from Tata Motors, which reported an 83% rise in consolidated net profit to ₹2,560 crore for the quarter, on revenue of ₹20,667 crore, up 19.3% year on year. The company said growth was aided by a mark-to-market gain on its Tata Capital investment, firmer commercial vehicle volumes and operating improvements. It also indicated that higher prices may be needed to offset input cost pressures after earlier increases of 2% in the quarter and another 2.5% from July 1.
Cement remains a sector to watch after UltraTech Cement reported a 16% rise in consolidated net sales to ₹24,465 crore and a 17% increase in profit after tax, helped by higher domestic volumes and operational efficiencies. By contrast, Birla Corporation reported lower sequential profit in its latest quarter, underscoring the uneven operating backdrop across the industry even as demand from housing, infrastructure and commercial construction supports larger players.
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