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    HEIDELBERG CEMENT INDIA LTD Q3 RESULTS

    At a PE multiple of 1.9 times, ONGC traded at a 78 per cent discount to its 10-year average of 8.5 times. Tata Steel at 5.9 times traded at a 53 per cent discount to its historic PE of 12.5 times. Coal India (down 53 per cent), Apollo Hospitals (down 38 per cent) and JSW Steel (down 36 per cent) are a few other stocks which are trading at steep discounts to their historical levels.
    Avenue Supermarts jumped 3.19 per cent to Rs 3,495 after June quarter updates. The owner and operator of retail chain D-Mart reported a nearly two-fold rise in its standalone revenue from operations to Rs 9,806.89 crore for the first quarter ended on June 30, 2022. The company had revenue from operations of Rs 5,031.75 crore in the April-June quarter a year ago.
    Wednesday is also the record date for dividends by Britannia Industries, Bank of Maharashtra, Agro Tech Foods, Bliss GVS Pharma, Bharat Seats and Morarka Finance.
    In the Nifty pack, 26 stocks were trading in the green, while 24 stocks were trading in the red.
    While economic recovery and demand helped earnings, rising cost inflation hit operating profit margins of companies.
    Shares of Sadhna Broadcast will go ex-split today. The company had announced the splitting of shares into face value of Re 1 from the face value of Rs 10.
    The Economic Times
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