KEY HIGHLIGHTS
Market At Close
The NSE Nifty 50 and BSE Sensex ended flat after trading in a narrow range throughout the day.
The Nifty moved in a 96 points range, while Sensex moved in 333.22 points range in Wednesday's session.
Tata Consultancy Services Ltd., and Infosys Ltd. were top leaders in Nifty 50 index.
ICICI Bank Ltd., and Coal India Ltd. were top draggers in Nifty 50 index. The NSE Nifty IT index rose 1.58% to 39,731.35, the highest level in nearly two weeks during the session.
The NSE Nifty Bank index fell 0.36% to 49,654.65, the lowest level in two months during the day.
The NSE Nifty Metal index tumbled 2.56% to 8,727.80, the lowest level since June after the Supreme Court allowed states to collect mining royalty due from April 2005.
Rupee Flat Against US Dollar Ahead Of US CPI
The local currency settled 2 paise higher at 83.95 against the US Dollar on Wednesday.
It closed at 83.97 a dollar on Tuesday.
Source: Congencis
Nifty, Sensex End Little Changed After Muted Session; TCS, Infosys Lead: Market Wrap
Benchmark NSE Nifty 50 and BSE Sensex ended the lackluster session flat on Wednesday. Tata Consultancy Services Ltd., and Infosys Ltd. supported the benchmarks' gains, while ICICI Bank Ltd., and Coal India Ltd. pressured the indices.
The Nifty ended 4.75 points or 0.02% higher at 24,143.75, and the Sensex settled 149.85 points or 0.19 higher at 79,105.88.
Intraday, the Nifty 50 index rose 0.24% to 24,196.50, and the Sensex rose 0.35% to 79,228.94.
Lacklustre trade ended marginally higher at 24,143.75. Barring IT and Auto, all other sectors ended the day in red with Metal and Media being the major laggards, said Aditya Gaggar, director, Progressive Shares. Broader markets underperformed the Frontline Index as Mid and Smallcap indices ended the session with a loss of over 0.50%. Nothing has changed i.e. the Index remained in its well-maintained range of 23,970-24,400, awaiting a breakout on either side.
Tata Consultancy Services Ltd., Infosys Ltd., HCL Technologies Ltd., HDFC Bank Ltd., and Bharti Airtel Ltd. added to the benchmark index.
ICICI Bank Ltd., Coal India Ltd., UltraTech Cement Ltd., Oil and Natural Gas Corp, and Divi's Laboratories Ltd. weighed on the benchmark index.
On NSE, nine sectors ended lower, two higher, and one rose out of 12. The NSE Nifty Metal was the worst performing sector, while the NSE Nifty IT was the best performing sector.
Broader indices underperformed. BSE Midcap ended 0.41% lower and BSE Smallcap closed 0.57% down.
Five out of 20 sectoral indices ended higher and 15 declined. BSE Metal fell the most and BSE IT was the top gainer.
Market breadth was skewed in the favour of sellers. As many as 2,391 stocks declined, 1,531 advanced, and 114 remained unchanged on the BSE.
MTNL Approves Service Pact With BSNL
Mahanagar Telephone Nigam Ltd. approved service pact with BSNL for 10 years.
The company also approved sale of stake in MTNL STPI IT Services.
It also approved closure of unit Millennium Telecom.
It approved sale of Mauritius subsidiary.
Source: Exchange filing
Shriram Properties Appoints New CFO
Shriram Properties Ltd. appointed Ravindra Kumar Pandey as CFO.
Source: Exchange filing
Epigral Approves Raising Rs 500 Crore
Epigral Ltd. approved raising up to Rs 500 crore via QIP or other means.
Source: Exchange filing
EID Parry Q1 Earning Highlights (Consolidated, YoY)
Revenue down 4% at Rs 6,747 crore vs Rs 7,026 crore
Ebitda down 28% at Rs 484 crore vs Rs 667 crore
Ebitda margin at 7.2% vs 9.5%
Net profit down 30% at Rs 226 crore vs Rs 325 crore
Mazagon Dock Shipbuilders Q1 Earnings Highlights
Revenue Rs 2,357 crore vs Rs 2173 crore
Ebitda up at Rs 642.27 crore vs Rs 171.93 crore
Ebitda margin at 27.2% vs 7.9%
Net profit up at Rs 696 crore vs Rs 314 crore
Balaji Amines Gets Clearance To Set Up Facility In Solarpur
Balaji Amines Ltd. received government clearance for greenfield project of manufacturing specialty chemicals in Solapur, Maharashtra.
Source: Exchange filing
HAL Q1 Earnings Highlights (Consolidated, YoY)
Revenue up 11% at Rs 4,348 crore vs Rs 3,915 crore
Ebitda up 13% at Rs 991 crore vs Rs 876 crore
Ebitda margin at 22.8% vs 22.4%
Net profit up 77% at Rs 1,438 crore vs Rs 814 crore
Hero MotoCorp Falls To Two-Month Low Despite June Quarter Profit Rise
Shares of Hero MotoCorp fell to their lowest level since June 4 on Wednesday, even as its first-quarter results came in line with analysts' estimates.
Shares of the company fell as much as 4.9% intraday to Rs 4,991 apiece, the highest level since June 4, before paring losses to trade 3.4% lower at Rs 5,062.75 apiece as of 11:52 a.m. This compares to a flat NSE Nifty 50.
The stock has risen 22% on a year-to-date basis and 73.29% in the last 12 months. Total traded volume so far in the day stood at 2.83 times its 30-day average. The relative strength index was at 34.62.
Out of the 42 analysts tracking the company, 28 maintain a 'buy' rating, six recommend a 'hold,' and eight suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 3%.
Trade Data For July (YoY)
Trade deficit at $23.5 billion vs $19 billion
Imports at $57.48 billion vs $53.49 billion
Exports fell 1.5% at $33.98 billion
Imports rose 7.5% at $57.48 billion
Services exports at $28.43 billion
Services imports at $14.55 billion
L&T To Buy 15% Stake In L&T Oman
Larsen & Toubro Ltd. will acquire additional 15% stake in L&T Oman for OMR 1.2 million.
Source: Exchange filing
Nifty IT Hits Nearly Two-Week High As TCS, Infosys Lead
The NSE Nifty IT rose 1.54% to 39,718.55, the highest level since Aug 2. It was trading 1.35% higher at 39,642.15 as of 2:04 p.m., as compared to 0.09% advance in the NSE Nifty IT index. Tata Consultancy Services Ltd., and Infosys Ltd. added to the index's gain.
Swan Energy Q1 Earnings (Consolidated, YoY)
Net profit up 85% at Rs 268 crore vs Rs 145 crore
Revenue up 43% at Rs 1,148 crore vs Rs 804 crore
EBITDA up 64% at Rs 388 crore vs Rs 237 crore
Margin at 33.8% vs 29.5%
Sun Pharma In Pact With US-Based Pharmazz
Enters into agreement with US-based Pharmazz Inc.
To invest up to $15 mn in US-based Pharmazz
Source: Exchange filing
PSP Projects Bags New Orders
PSP Projects received work orders worth Rs 653.67 crore. This includes civil and structural work for the project “Himalaya” at Sanand, Gujarat for International Refreshments (India) Pvt worth Rs 484 crore in industrial category and construction of project “Ninety” at Mumatpura, Ahmedabad worth Rs 102 crore from PSP Properties LLP in institutional category.
Source: Exchange filing
Ethos Q1 Earning Highlights (Consolidated, YoY)
Net profit rose 25.3% at Rs 22.8 crore versus Rs 18.2 crore
Revenue rose 18.8% at Rs 273 crore versus Rs 230 crore
Ebitda rose 27.4% at Rs 43.2 crore versus Rs 33.9 crore
Margin at 15.8% versus 14.7%
Gabriel India Q1 Earning Highlights (Consolidated, YoY)
Net profit rose 37% at Rs 58 crore vs Rs 42 crore
Revenue rose 17.5% at Rs 945 crore vs Rs 806 crore
Ebitda rose 32.4% at Rs 91 crore vs Rs 69 crore
Margin at 9.6% vs 8.5%
Motisons Jewellers To Approve Rs 170 Crore
Motisons Jewellers Ltd. board approves raising up to Rs 170 crore via preferential issue
Source: Exchange filing
Power Mech Projects' Board To Consider Bonus Share Issuance
Power Mech Projects Ltd.'s board to consider proposal for issue of bonus shares on August 22
Source: Exchange filing
BEML Drops To Two-Month Low
The scrip rose as much as 6% intraday to Rs 3,602 apiece, the highest level since June 5, before paring gains to trade 5.6% lower at Rs 3,622 apiece, as of 12:19 p.m. This compares to a 0.08% advance in the NSE Nifty 50.
Manappuram Finance Falls As Q1 Net Profit Misses Estimates
Shares of Manappuram Finance fell on Wednesday after the company reported lower than expected net profit for the quarter ended June. The company reported a 16% year-on-year increase in its net profit to Rs 441 crore, lower than Bloomberg's expectations of Rs 474 crore.
Muthoot Finance Falls After Profit Misses Estimates In June Quarter
Shares of Muthoot Finance Ltd. extended losses for the second straight day on Wednesday after its first-quarter profit missed analysts' estimates.
The scrip fell as much as 3.29% to Rs 1,792.05 apiece, the lowest level since August 6. It pared gains to trade 3.2% lower at Rs 1,793 apiece, as of 10:01 a.m. This compares to a 0.08% decline in the NSE Nifty 50 Index.
It has risen 21.5% on a year-to-date basis and 42.2% in the last 12 months. Total traded volume so far in the day stood at 0.68 times its 30-day average. The relative strength index was at 45.93.
Out of the 23 analysts tracking the company, 16 maintain a 'buy' rating, four recommend a 'hold,' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 9%.
HEG Shares Tumble On Back Of Show Cause Notice, Stock Split, Q1 Profit Slump
Shares of HEG Ltd. declined over 8% after taking cognisance of a showcause notice from Bhopal tax authority, and as net profit during first quarter fell. Further, the board of directors of HEG approved the proposal for a share split on Tuesday. One equity share of the company will be split into five shares.
Mumbai Customs Office Gives Show Cause Notice To Maruti Suzuki
Maruti Suzuki India Ltd. received a show cause notice from Mumbai Customs Office
Notice asks the company reasons for claiming custom duty exemption on import of certain goods.
Notice asks company to pay differential duty of Rs 3.8 crore along with interest and penalty.
Source: Exchange filing
Nifty Metal Drops To Over Two-Month Low As Tata Steel Drag
The NSE Nifty Metal index declined 2.56% to 8,727.80, the lowest level since June 4 as Tata Steel Ltd., and JSW Steel Ltd. dragged. It was trading 1.44% lower at 8,828.25 as of 11:17 a.m., as compared to 0.02% decline in the NSE Nifty 50 index.
Mining Royalty Judgment To Give Retrospective Effect, Subject To some Conditions, SC Says
Mining royalty judgment will be given retrospective effect subject to some conditions
The demand of tax shall not operate on transactions made prior to April 1, 2005.
Time for payment of tax can be staggered over 12 years commencing from April 1, 2026.
Levy of interest and penalty on demands for period prior to July 25, 2024 shall stand waived.
Source: Supreme Court Proceedings
Hero MotoCorp Q1 FY25 Conference Call
VAHAN Market share at 31.1%
On Premium side, we had slew of launches-
Expect some action on higher market share by end of this fiscal
Some launches in scooter this fiscal year
New product with full body change probably be in September
125 and 160cc segment of XOOM to be launched this year
EV scooter range expansion to continue this year as well
Marksans Pharma Jumps Over 13% As Net Profit Rises
Marksans Pharma Ltd. jumped over 13% to near two-week high on Wednesday after reporting a rise in its net profit in the first quarter of the fiscal year 2025.
Marksans Pharma Ltd. rose 13.27% to Rs 213.00, the highest level since Aug 1. It pared gains to trade 8.89% to Rs 204.76 as of 11:02 a.m., as compared to flat NSE Nifty 50 index.
The scrip gained 79.69% in 12 months, and 27.03% on year to date basis. Total traded volume so far in the day stood at 6.7 times its 30-day average. The relative strength index was at 59.33.
Five analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.6%.
HEG Board Takes Note Of Show Cause Notice From Bhopal Tax Authority
HEG Ltd.'s board took note of show cause notice from Bhopal tax authority
Show cause notice proposes recovery of IGST refunds & penalty amounting to Rs 282 crore
The company is to file reply to the show cause notice.
Source: Exchange filing
Elara Capital on Utilities & Renewables
Power demand continues to show momentum in Q1FY25, up 11% YoY
Renewable capacity addition gaining traction on govt targets, cost competitiveness
Seeing higher no. of bids for hybrid RE, dispatchable power tenders
Higher penetration of ACs, data centers, railways, EVs to contribute to rising power demand
Expect power demand CAGR of 7% during FY25-FY32
Evacuation of renewable power to result in investment in transmission sector
Nifty Bank Falls To Two-Month Low
The NSE Nifty Bank fell 0.36% to 49,959.25, the lowest level in two months. It was trading 0.18% lower at 49,743.50 as of 10:23 a.m., as compared to 0.04% advance in the NSE Nifty 50 index.
Hindalco Industries Rises Over 2% As Net Profit Increases
Hindalco Industries declined nearly 2% on Wednesday after reported a growth on its net profit during April–June.
Hindalco Industries Ltd. 2.02% to 633.95, the highest level since Aug 13. It pared gains to trade 0.94% higher at Rs 627.25 as of 10:18 a.m., as compared to 0.11% advance in the NSE Nifty 50 index.
The scrip gained 37.48% in 12 months, and rose 2.12% on year to date basis. Total traded volume so far in the day stood at 2.5 times its 30-day average. The relative strength index was at 41.63.
Out of 28 analysts tracking the company, 25 maintain a 'buy' rating, one recommend a 'hold,' and two suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 17.2%
Piramal Enterprises Extends Losses For Second Session
Shares of Piramal Entreprises Ltd. dragged for the second consecutive session as total income declined after Rs 889 crore revenue from sale of Shriram Finance Stake in the first quarter of financial year ended March 2024.
SJVN Shares Jump 8% After Q1 Results Beat Estimates
SJVN Ltd. shares advanced over 8% in early trade on Wednesday after the company's first quarter earnings exceeded expectations and the board's decision to dilute stake in subsidiary SJVN Green Energy Ltd.
Nifty, Sensex Open Flat; HDFC Bank, Infosys Rise
India's benchmark indices started Wednesday on a muted note as investors brace themselves for crucial inflation data from the US. Rise in shares of HDFC Bank Ltd., and Infosys Ltd. supported the NSE Nifty 50 and BSE Sensex indices.
As of 09:20 a.m., the NSE Nifty 50 was trading 8.60 points or 0.04% higher at 24,147.60, and the BSE Sensex was 10.83 points or 0.01% higher at 78,966.86.
The NSE Nifty 50 has broken on the downside from its doji candle and weakness would continue to persist unless it does not cross 24,400 levels on the higher side, said Vikas Jain, head, Research at Reliance Securities.
Doji is a pattern of candlestick chart of any traded financial instrument, which indicates small trading range.
The 50-day average breakdown placed at 24,000 levels will trigger a sharp down move across sectors to stocks to test the lower pivot range of 23,650 levels. RSI is reversing and failed to cross the average lines and expect the volatility in the second half with respect to the weekly expiry. Highest call open interest is at 24,400 strikes while the downside the highest put OI moved higher to 24,000 for the weekly expiry, Jain added.
HDFC Bank Ltd., State Bank of India, Larsen & Toubro Ltd., ITC Ltd., and Bharti Airtel Ltd. added to the benchmark index.
ICICI Bank Ltd., Axis Bank Ltd., UltraTech Cement Ltd., Hero MotoCorp Ltd., and Reliance Industries Ltd. weighed on the index.
On NSE, seven sectors declined, three advanced, and two remained flat out of 12. The NSE Nifty Realty was the top loser, while the NSE Nifty Auto was the top gainer.
Broader markets were trading on a mixed note. The BSE Midcap was 0.01% higher, while the BSE Smallcap was 0.27% lower.
On BSE, 11 sectors declined, and nine advanced out of 20. The BSE TECK was the leading sector and the BSE Realty and Services declined the most.
Market breadth was skewed in favour of sellers. Around 1,672 stocks declined, 1,277 stocks rose, and 134 stocks remained flat.
National Green Tribunal Disposes Aether Industries' Suo-Moto Application
Aethar Industries Ltd.'s national Green Tribunal disposed suo-moto application without any penalty.
Alert: Suo-moto application was filed on basis of news report of fire accident at company.
Source: Exchange filing
Nifty, Sensex Higher At Pre-Open
At pre-open, the NSE Nifty 50 was 45.40 points or 0.19% higher at 24,184.40, and the BSE Sensex was 0.14% or 108.19 points higher at 79,064.22.
Watch India Market Open At NDTV Profit
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.87%.
It closed at 6.88% on Tuesday.
Source: Cogencis
Rupee Strengthens Against US Dollar
The local currency opened 6 paise higher at 83.91 against the US Dollar on Wednesday.
It closed at 83.97 a dollar on Tuesday.
Source: Cogencis
Jefferies On Muthoot
Jefferies maintains 'Buy' with a target price Rs 2,220 which implied a 17% upside.
Beat in operating profit offset by higher provisions
Loan growth surprises positively aided by gold prices
NIMs held up better than expected, asset quality risk is low
Values standalone business at 2.5x Sept 2026 Book Value
Jefferies On Manappuram Finance
Jefferies maintains 'Buy' with a target price Rs 270, which implied a 30% upside.
Higher operating profit offset by higher provisions
Q1 PAT growth 3% below Jefferies est.
Strong 10% QoQ growth in gold loan portfolio
Concerns on stress in MFI / non-gold largely priced in
Value at 1.2x Sept 2026 Price to Book
Nomura On HDFC Bank
Nomura maintains neutral with a target price Rs 1,720, which implied a 7% upside.
NIM improvement remains key RoA driver
NIM improvement will come at the cost of loan growth
Improvement in funding mix remains key NIM driver
Balance sheet course correction will be gradual
Money Market Update
The Indian rupee closed flat against the US dollar on Tuesday after opening stronger, amid a steady dollar and easing crude oil prices.
The rupee closed flat after appreciating two paise to Rs 83.95 in the morning against the US dollar, according to Bloomberg. It had closed at Rs 83.97 on Monday.
F&O Cues
Nifty August futures down by 0.81% to 24,161, a premium of 22 points.
Nifty August futures open interest up by 2.5%.
Nifty Bank August futures down by 1.25% to 50,052, at a premium of 221 points.
Nifty Bank August futures open interest up by 17%.
Nifty Options Aug. 14 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 23,500.
Bank Nifty Options Aug. 14 Expiry: Maximum call open interest at 50,500 and maximum put open interest at 42,000.
Securities in ban period: Aaarti Industries, Aditya Birla Capital, Aditya Birla Fashion, Bandhan Bank, Biocon, Birlasoft, Chambal Fertilizers, Granules India, India Cements, IndiaMart Intermesh, LIC Housing Finance, Manappuram, Punjab National Bank, RBL Bank, SAIL, and Sun TV Network.
Insider Trade
Man Infraconstruction: Promoter Mansi P. Shah bought 20,000 shares on Aug. 12.
Trading Tweaks
Price band change from 10% to 5%: SMS Lifesciences India,
Ex/record dividend: EPL, Gujarat Pipavav Port, Kalyani Steels, Bharat Electronics, TTK Prestige, Hitachi Energy, Motherson Sumi Wiring India, Samvardhana Motherson International, Maharashtra Seamless, JB Chemicals & Pharmaceuticals, Railtel Corp., and H.G. Infra Engineering.
Ex/record buyback: TTK Prestige
Ex/record AGM: EPL, Flair Writing Industries, Federal-Mogul Goetze, Gujarat Pipavav Port, Wonderla Holidays, Power Finance Corp., Bharat Electronics, TTK Prestige, Hitachi Energy, Motherson Sumi Wiring India, and Samvardhana Motherson International.
Moved in the short-term framework: Supriya Lifescience, Venky's (India), Vishnu Prakash R. Punglia.
Moved out short-term framework: Kernex Microsystems (India), PCBL, Selan Exploration Technology, and TCPL Packaging.
IPO offering
Saraswati Saree Depot: The public issue was subscribed to 16.34 times on day 2. The bids were led by non-institutional investors (57.18 times), retail investors (20.30 times) and qualified institutional investors (1.32 times).
Block Deal
Sundram Fasteners: TVS Sundram Fasteners Pvt. sold 32.95 lakh shares (1.56%) at Rs 1,318 apiece, SBI Mutual Fund bought 22 lakh shares (1.04%) at Rs 1,318 per share, and Nippon India Mutual Fund bought 10.95 lakh shares (0.52%) at Rs 1,318 apiece.
Bulk Deals
Prataap Snacks: Rajesh Kumar Mehta sold 3.39 lakh shares (1.41%) at Rs 793.53 apiece.
Brainbees Solutions: Nomura India Investment Fund Mother Fund A/C (MF INDIA) bought 48.47 lakh shares (0.93%) at Rs 681.03 apiece, and TNTBC as the Trustee of Nomura India Stock Mother Fund (Nomura) Nismf bought 32,25 lakh shares (0.62%) at Rs 681.03 apiece.
Stocks to Watch
Vedanta, Hindustan Zinc: The company will sell 2.6% stake in HZL through an offer for sale via stock exchanges.
SJVN: The board received in-principal approval for diluting a stake in SJVN Green Energy and received approval for monetisation of Nathpa Jhakri Hydro Power Station via securitisation of partial future revenue/return on equity.
Mahindra & Mahindra: The company reported total production down by 1.2% at 69,138. Total sales up 2.1% at 64,929, and total exports down by 40% at 1,515.
Five-Star Business Finance: The company should consider raising funds via securities.
Bombay Dyeing: The company completed the sale of a Worli land parcel in Mumbai to Sumitomo Realty for Rs 538 crore.
Earnings in Focus
Capacite Infraprojects, EID-Parry (India), Equinox India Development, Entero Healthcare Solutions, Gabriel India, Glenmark Pharma, Hindustan Aeronautics, KIOCL, KNR Construction, Mazagon Dock Shipbuilders, Pitti Engineering, Red Tape, RHI Magnesita India, Reliance Power, Suprajit Engineering, Swan Energy, Tarsons Products and Voltas.
Earnings Post Market Hours
Apollo Hospitals Enterprise (Consolidated, YoY)
Revenue up 15.1% to Rs 5,085.60 crore versus Rs 4,417.80 crore (Bloomberg estimate: Rs 5,089 crore).
Ebitda up 33% at Rs 675.10 crore versus Rs 509 crore (Bloomberg estimate: Rs 698 crore).
Ebitda margin expanded to 13.3% versus 11.5% (Bloomberg estimate: 13.70%).
Net profit up 82% at Rs 315.50 crore versus Rs 173.40 crore (Bloomberg estimate: Rs 300 crore).
Sammaan Capital Q1 FY25 (YoY)
Total income up 8.4% to Rs 1,934 crore versus Rs 1,784 crore.
Net profit up 6.5% at Rs 257 crore versus Rs 241 crore.
NBCC Q1 FY25 (Consolidated, YoY)
Revenue up 11.3% to Rs 2,144.16 crore versus Rs 1,926.10 crore (Bloomberg estimate: Rs 2,774 crore).
Ebitda up 60% at Rs 91.64 crore versus Rs 57.16 crore (Bloomberg estimate: Rs 175 crore).
Ebitda margin expanded to 4.27% versus 2.96% (Bloomberg estimate: 6.30%).
Net profit up 38% at Rs 107.19 crore versus Rs 77.41 crore.
FIEM Industries Q1 FY25 Results Highlights (Consolidated, YoY)
Revenue up 22% to Rs 578 crore versus Rs 475 crore.
Ebitda up 29% to Rs 79 crore versus Rs 61 crore.
Ebitda margin at 13.6% versus 12.8%.
Net profit up 38% to Rs 49 crore versus Rs 35 crore.
NMDC Steel Q1 FY25 (Consolidated, QoQ)
Revenue up 9.6% at Rs 2,023 crore vs Rs 1,846 crore.
Ebitda loss at Rs 403 crore vs loss of Rs 956 crore.
Net loss of Rs 547 crore vs loss of Rs 861 crore.
Gujarat Narmada Valley Fertilizers Chemicals (Consolidated, YoY)
Revenue up 22.3% at Rs 2,021 crore vs Rs 1,652 crore.
Ebitda up 45.7% at Rs 153 crore vs Rs 105 crore.
Ebitda margin at 7.6% vs 6.3%.
Net profit up 34.1% at Rs 118 crore vs Rs 88 crore.
Max Financial Services Q1 FY25 (Consolidated, YoY)
Total income up 28.7% at Rs 11,802 crore vs Rs 9,171 crore.
Net profit up 54.5% at Rs 156 crore vs Rs 101 crore.
Texmaco Rail & Engineering Q1 FY25 Results (Consolidated, YoY)
Revenue up 36% to Rs 891.71 crore versus Rs 655.82 crore.
Ebitda up 250% at Rs 70.44 crore versus Rs 20.15 crore.
Ebitda margin expanded at 7.9% versus 3.1%.
Net profit up 250% at Rs 70.44 crore versus Rs 20.15 crore.
Ahluwalia Contracts Q1 FY25 (Consolidated, YoY)
Revenue up 20.33% at Rs 919 crore vs Rs 764 crore (Bloomberg estimate: Rs 975 crore).
Ebitda down 27.26% at Rs 60.09 crore vs Rs 82.62 crore (Bloomberg estimate: Rs 98 crore).
Ebitda margin down 427 bps at 6.53% vs 10.81% (Bloomberg estimate: Rs 10%).
Net profit down 38.88% at Rs 30.56 crore vs Rs 50 crore (Bloomberg estimate: Rs 57 crore).
HEG Q1 FY25 (Consolidated, YoY)
Revenue down 14.9% at Rs 571 crore vs Rs 671 crore.
Ebitda down 74.4% at Rs 38.7 crore vs Rs 151 crore.
Margin at 6.8% vs 22.5%.
Net profit down 83.4% at Rs 23 crore vs Rs 139 crore.
Board approves splitting each stock into 5.
Piramal Enterprises Q1 FY25 (Consolidated, YoY)
Total income down 26% to Rs 2,145 crore versus Rs 2,899 crore (Bloomberg estimate: Rs 1,260 crore).
Net profit up 64% at Rs 181 crore versus Rs 509 crore (Bloomberg estimate: Rs 224 crore).
Total income down on account of Rs 889 crore income from sale of Shriram Finance Stake in the first quarter of financial year ended March 2024.
MTAR Technologies Q1 FY25 (Consolidated, YoY)
Revenue down 16.3% to Rs 128 crore versus Rs 153 crore (Bloomberg estimate: Rs 140 crore).
Ebitda down 53.3% at Rs 16.3 crore versus Rs 34.9 crore (Bloomberg estimate: Rs 26 crore).
Ebitda margin contracted to 12.7% versus 22.8% (Bloomberg estimate: 18.40%).
Net profit down 78.3% at Rs 4.4 crore versus Rs 20.3 crore (Bloomberg estimate: Rs 12 crore).
FSN E-Commerce Ventures Q1 FY25 (Consolidated, QoQ)
Revenue up 4.7% to Rs 1,746.11 crore versus Rs 1,667.98 crore (Bloomberg estimate: Rs 1,763 crore).
Ebitda up 3% to Rs 96.12 crore versus Rs 93.28 crore (Bloomberg estimate: Rs 99 crore).
Ebitda margin contracted to 5.5% versus 5.6% (Bloomberg estimate: 5.60%).
Net profit up 49% to Rs 13.6 crore versus Rs 9.1 crore (Bloomberg estimate: Rs 19 crore).
Note: To buy additional 39% stake in Dot & Key Wellness for Rs 265 crore.
Manappuram Finance Q1 FY25 (Consolidated, YoY)
Total income up 20% to Rs 1,622 crore versus Rs 1,357 crore.
Net profit up 16% at Rs 441 crore versus Rs 381 crore (Bloomberg estimate: Rs 474 crore).
Nazara Technologies Q1 FY25 Results Highlights (Consolidated, YoY)
Revenue down 6.1% to Rs 250.08 crore versus Rs 266.21 crore (Bloomberg estimate: Rs 267 crore)
Ebit at Rs 9.7 crore versus loss of Rs 17.93 crore (Bloomberg estimate: Rs 18 crore).
Ebit margin at 3.9% (Bloomberg estimate: 6.8%).
Net profit up at Rs 23.62 crore versus Rs 0.18 crore (Bloomberg estimate: Rs 23 crore).
Note: Loss of Rs 17 crore from discontinued operation in the last quarter of the financial year ended 2024.
Marksans Pharma Q1 FY25 (Consolidated, YoY)
Revenue up 18.2% at Rs 591 crore vs Rs 500 crore (Bloomberg estimate: Rs 569 crore).
Ebitda up 26.02% at Rs 128.8 crore vs Rs 102.2 crore (Bloomberg estimate: Rs 71 crore).
Ebitda margin up 135 bps at 21.79% vs 20.44% (Bloomberg estimate: 12.4%).
Net profit up 26.42% at Rs 89 crore vs Rs 70.4 crore (Bloomberg estimate: Rs 26 crore).
Kewal Kiran Clothing Q1 FY25 (Consolidated, YoY)
Revenue down 15.2% to Rs 151.25 crore versus Rs 178.40 crore.
Ebitda down 19% at Rs 27.57 crore versus Rs 34.14 crore.
Ebitda margin at 18.2% versus 19.1%.
Net profit down 15.2% at Rs 151.25 crore versus Rs 178.40 crore.
EPL Q1 FY25 (Consolidated, YoY)
Revenue up 10.7% to Rs 1,007.40 crore versus Rs 910.20 crore (Bloomberg estimate: Rs 1,016 crore).
Ebitda up 17% at Rs 185.80 crore versus Rs 159 crore (Bloomberg estimate: Rs 198 crore).
Ebitda margin expanded to 18.4% versus 17.5% (Bloomberg estimate: 19.50%).
Net profit up 18% at Rs 65.70 crore versus Rs 55.60 crore (Bloomberg estimate: Rs 67 crore).
TBO Tek Q1 FY25 Results Highlights (Consolidated, QoQ)
Revenue up 13% to Rs 418 crore versus Rs 369 crore.
Ebit up 31% to Rs 66 crore versus Rs 51 crore.
Ebit margin at 15.8% versus 13.7%.
Net profit up 32% to Rs 61 crore versus Rs 46 crore.
Techno Electric & Engineering Q1 (Consolidated, YoY)
Revenue up 36.86% at Rs 375 crore vs Rs 274 crore (Bloomberg estimate: Rs 441 crore)
Ebitda up 145.75% at Rs 52.15 crore vs Rs 21.22 crore.
Ebitda margin up 616 bps at 13.9% vs 7.74%.
Net profit up 288.36% at Rs 98.1 crore vs Rs 25.26 crore (Bloomberg estimate: Rs 57 crore).
Anupam Rasayan India Q1 FY25 Results Highlights (Consolidated, YoY)
Revenue up 34.2% to Rs 254 crore versus Rs 386 crore (Bloomberg estimate: Rs 383 crore).
Ebitda up 47.7% to Rs 53 crore versus Rs 101 crore (Bloomberg estimate: Rs 89 crore).
Margin at 20.8% versus 26.2% (Bloomberg estimates: Rs 23.4%).
Net profit up 76.6% to Rs 12.2 crore versus Rs 52.2 crore (Bloomberg estimate: Rs 36 crore).
Eclerx Services Q1 FY25 (Consolidated, YoY)
Revenue up 2.08% at Rs 782 crore vs Rs 766 crore (Bloomberg estimate: Rs 778 crore).
Ebitda down 16.59% at Rs 134.7 crore vs Rs 161.5 crore (Bloomberg estimate: Rs 172 crore).
Ebitda margin down 385 bps at 17.22% vs 21.08% (Bloomberg estimate: 22%).
Net profit down 13.84% at Rs 112 crore vs Rs 130 crore (Bloomberg estimate: Rs 114 crore).
Endurance Technologies Q1 FY25 (Consolidated, YoY)
Revenue up 15.3% to Rs 2,825.50 crore versus Rs 2,449.96 crore (Bloomberg estimate: Rs 2,795 crore).
Ebitda up 16% at Rs 374.09 crore versus Rs 321.25 crore (Bloomberg estimate: Rs 386 crore).
Ebitda margin contracted to 13.2% versus 13.1% (Bloomberg estimate: 13.80%).
Net profit up 25% at Rs 203.86 crore versus Rs 163.50 crore (Bloomberg estimate: Rs 201 crore).
Hero MotoCorp Q1 FY25 Results Highlights (Consolidated, YoY)
Revenue up 15.7% to Rs 10,143.73 crore versus Rs 8,767.27 crore (Bloomberg estimate: Rs 10,432 crore).
Ebitda up 21% at Rs 1,459.75 crore versus Rs 1,206.25 crore (Bloomberg estimate: Rs 1,541 crore).
Ebitda margin expanded to 14.4% versus 13.8% (Bloomberg estimate: 14.80%).
Net profit up 36% at Rs 1,122.63 crore versus Rs 824.72 crore (Bloomberg estimate: Rs 1,157 crore).
SJVN Q1 FY25 (Consolidated, YoY)
Revenue up 29% to Rs 870.37 crore versus Rs 674.79 crore (Bloomberg estimate: Rs 737 crore).
Ebitda up 33% at Rs 667.49 crore versus Rs 502.70 crore (Bloomberg estimate: Rs 548 crore).
Ebitda margin expanded to 76.7% versus 74.5% (Bloomberg estimate: 74.40%).
Net profit up 31% at Rs 357.09 crore versus Rs 271.75 crore (Bloomberg estimate: Rs 303 crore).
Yatharth Hospital & Trauma Care Services (Consolidated, YoY)
Revenue up 37.1% to Rs 211.78 crore versus Rs 154.51 crore (Bloomberg estimate: Rs 199 crore).
Ebitda up 30% at Rs 53.65 crore versus Rs 41.40 crore (Bloomberg estimate: Rs 52 crore).
Ebitda margin contracted to 25.3% versus 26.8% (Bloomberg estimate: 26.40%).
Net profit down 60% at Rs 30.38 crore versus Rs 19.03 crore (Bloomberg estimate: Rs 32 crore).
Ratnamani Metals & Tubes Q1 FY25 (Consolidated, YoY)
Revenue up 0.7% to Rs 1,183.70 crore versus Rs 1,174.93 crore (Bloomberg estimate: Rs 1,209 crore).
Ebitda down 20% at Rs 164.03 crore versus Rs 206.27 crore (Bloomberg estimate: Rs 200 crore).
Ebitda margin contracted to 13.9% versus 17.6% (Bloomberg estimate: 16.50%).
Net profit up 21% at Rs 105.88 crore versus Rs 134.86 crore (Bloomberg estimate: Rs 141 crore).
Ashoka Buildcon Q1 FY25 (Consolidated, YoY)
Revenue up 27.39% at Rs 2,465 crore vs Rs 1,935 crore (Bloomberg estimate: Rs 2,894 crore).
Ebitda up 26.63% at Rs 599 crore vs Rs 473 crore.
Ebitda margin down 14 bps at 24.3% vs 24.44%.
Net profit up 154.83% at Rs 158 crore vs Rs 62 crore (Bloomberg estimate: Rs 202 crore).
Rainbow Children's Medicare Q1 FY25 (Consolidated, YoY)
Revenue up 15% to Rs 330.21 crore versus Rs 287.16 crore (Bloomberg estimate: Rs 327 crore).
Ebitda up 7% at Rs 93.71 crore versus Rs 87.68 crore (Bloomberg estimate: Rs 94 crore).
Ebitda margin contracted to 28.4% versus 30.5% (Bloomberg estimate: 28.8%).
Net profit down 4% at Rs 39.73 crore versus Rs 41.49 crore (Bloomberg estimate: Rs 35 crore).
Landmark Cars Q1 FY25 (Consolidated, YoY)
Revenue up 19.9% to Rs 831.98 crore versus Rs 693.98 crore (Bloomberg estimate: Rs 859 crore).
Ebitda up 9% at Rs 48.51 crore versus Rs 44.37 crore (Bloomberg estimate: Rs 50 crore).
Ebitda margin contracted to 5.8% versus 6.4% (Bloomberg estimate: 5.80%).
Net profit down 53% at Rs 3.45 crore versus Rs 7.27 crore (Bloomberg estimate: Rs 12 crore).
Valor Estate Q1 FY25 (Consolidated, YoY)
Revenue at Rs 79.5 crore vs Rs 2.43 crore.
Ebitda at Rs 13.7 crore vs loss of Rs 8.7 crore.
Margin at 17.2%.
Net loss at Rs 13.2 crore vs loss of Rs 25.9 crore.
GMR Airports Infrastructure Q1 FY25 (Consolidated, YoY)
Revenue up 19.1% at Rs 2,402 crore vs Rs 2,018 crore (Bloomberg estimate: Rs 2,576 crore).
Ebitda up 19.2% at Rs 896 crore vs Rs 752 crore (Bloomberg estimate: Rs 830 crore).
Margin at 37.3% vs 37.2% (Bloomberg estimate: 32.2%).
Net loss at Rs 338 crore vs profit of Rs 17 crore (Bloomberg estimate: Net loss of Rs 209 crore).
AllCargo Logistics Q1 FY25 (Consolidated, YoY)
Revenue up 16.6% to Rs 3,812.81 crore versus Rs 3,271.06 crore (Bloomberg estimate: Rs 3,654 crore).
Ebitda down 5% at Rs 132.74 crore versus Rs 139 crore (Bloomberg estimate: Rs 169 crore).
Ebitda margin contracted to 3.5% versus 4.2% (Bloomberg estimate: 4.60%).
Net profit down 96% at Rs 4.28 crore versus Rs 118.94 crore (Bloomberg estimate: Rs 33 crore).
Astra Microwave Products Q1 FY25 (Consolidated, YoY)
Revenue up 16% to Rs 155 crore versus Rs 134 crore (Bloomberg estimate: Rs 150 crore).
Ebitda up at Rs 24 crore versus Rs 3.1 crore (Bloomberg estimate: Rs 6 crore).
Ebitda margin expanded to 15.5% versus 2.3% (Bloomberg estimate: 3.90%).
Net profit up at Rs 7.2 crore versus loss of Rs 6.7 crore (Bloomberg estimate: Loss of Rs 4 crore).
Muthoot Finance Q1 FY25 (YoY)
Total income up 22.6% to Rs 3,710 crore versus Rs 3,026 crore.
Net profit up 10.6% at Rs 1,079 crore versus Rs 975 crore (Bloomberg estimate: Rs 1,164 crore).
GIFT Nifty Trades Above 24,200
Asia-Pacific indices tracked gains in US indices to open higher on Wednesday. Japan's Nikkei was up 0.4% at 6:53 a.m., when Australia's S&P ASX was 0.6% higher and South Korea's Kospi was 0.88% higher.
US stocks climbed and bond yields decreased following the latest US inflation data, which bolstered speculation that the Federal Reserve might implement the widely anticipated interest-rate cut in September.
The S&P 500 and Nasdaq Composite rose 1.68% and 2.43%, respectively, as of Tuesday. The Dow Jones Industrial Average was up 1.04%.
Brent crude was trading 0.51% higher at $81.10 a barrel as of 6:52 a.m. and Gold rose 0.20% to $2,470.16 an ounce.
The August futures contract of the GIFT Nifty was at 24,233.00, up 14.5 points, or 0.06% as of 7:00 a.m.
Indian benchmark equity indices ended lower for the second consecutive day to log their worst session since Aug. 5, as shares of banks weighed on them. The NSE Nifty 50 closed 208 points, or 0.85% down at 24,139.0 and the S&P BSE Sensex ended 692.89 points, or 0.87% lower at 78,956.03.
Overseas investors remained net sellers on Tuesday for the second consecutive day. Foreign portfolio investors offloaded equities worth Rs 2,107.2 crore, while domestic investors remained net buyers for the eighth consecutive session and mopped up equities worth Rs 1,239.96 crore, according to provisional data from the National Stock Exchange.
The Indian currency settled flat at 83.97 against the US dollar on Tuesday.
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