KEY HIGHLIGHTS
Rupee Ends At Record Closing Low Against US Dollar
The local currency closed at a record low of 83.665 against the US dollar.
It closed at 83.66 on Thursday.
Source: Bloomberg
Nifty, Sensex End Lower For Second Consecutive Session Ahead Of Budget: Closing Bell
Benchmark equity indices closed lower for the second consecutive session on Monday as investors look forward to the final budget and more corporate earnings.
The Nifty ended at 24509.25, down 0.09% or 21.65 points and the Sensex closed at 80502.08, down by 0.13% or 102.57 points.
Considering the Union Budget outcome, wild swings can be expected on both sides where 24,200 will be considered as immediate support while the higher side seems to be capped at 24,800, said Aditya Gaggar, director of Progressive Shares.
Shares of Reliance Industries Ltd., Kotak Mahindra Bank Ltd., ITC Ltd., Wipro Ltd., and ICICI Bank Ltd., dragged the Nifty.
While those of HDFC Bank Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., NTPC Ltd., and Larsen & Toubro Ltd. limited the losses.
Sectoral indices were mixed at close. Nifty Auto and Nifty Metal rose the most and Nifty Media was the top loser.
Market breadth was skewed in favour of buyers. Around 2,150 stocks rose, 1,845 stocks declined, and 151 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap indices were 1.26% and 0.88% higher, respectively.
On BSE, 14 sectors ended higher, and six ended lower out of 20. The S&P BSE Power rose the most, while the S&P BSE Energy declined the most.
UCO Bank Q1 Earnings Key Highlights
NII up 12% on the year at Rs 2,254 crore vs Rs 2,009 crore
Net profit at Rs 551 crore vs Rs 223 crore YoY
Net NPA at 0.78% vs 0.89% QoQ
Gross NPA at 3.32% vs 3.46% QoQ
IDBI Bank Q1 Earnings (Standalone)
NII down19% at Rs 3,233 crore vs Rs 3,998 crore (YoY)
Net NPA 0.23% vs 0.34% (QoQ)
Gross NPA 3.87% vs 4.53% (QoQ)
Net profit up 40.4% at Rs 1,719 crore vs Rs 1,224 crore (YoY)
ZF Commercial Vehicle Control Systems Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue down 2.2% at Rs 946 crore vs Rs 967 crore
Ebitda fell 1.6% at Rs 139 crore vs Rs 141 crore
Net profit fell 0.3% at Rs 99 crore vs Rs 100 crore
Margin at 14.7% vs 14.6%
Poly Medicure Q1 Earnings Highlights (Consolidated, YoY)
Revenue rose 19.9% at Rs 385 crore vs Rs 321 crore
Ebitda rose 19.2% at Rs 104 crore vs Rs 87 crore
Margin down 17 bps at 27% vs 27.2%
Net profit rose18.1% at Rs 74 crore vs Rs 63 crore
Nifty, Sensex Off Lows As HDFC Bank, Infosys Lead: Midday Market Update
The Indian benchmark indices pared most losses during midday on Monday as Reliance Industries Ltd. recovered from day's low and Infosys Ltd. rose.
As of 12:09 p.m., the NSE Nifty 50 was 2.15 points or 0.09% lower at 24,528.75 and the S&P BSE Sensex was trading 48.50 points or 0.06% lower at 80,556.15.
Intraday, the Nifty declined as much as 0.69% to 24,362.90, while the Sensex declined 0.63% to 80,100.
"The Nifty 50 gained 0.12% over the week but formed a bearish shooting-star-type pattern and closed near the week’s low," Deepak Jasani, head of retail research at HDFC Securities, said. "The high of the day (July 19's), 24,854, could now be a strong resistance for the near term, while 24,087–24,344 band could provide support."
"The coming week, that includes the Union Budget, is the eighth in the series of rises and could end in the negative," Jasani said.
HDFC Bank Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., NTPC Ltd. and UltraTech Cement Ltd. led the gains in the Nifty.
Reliance Industries Ltd., Kotak Mahindra Bank Ltd., ICICI Bank Ltd., Wipro Ltd. and ITC Ltd. weighed on the index.
On NSE, six sectors advanced, five declined, and one remained flat out of 12. The Nifty Pharma was leading among peers, while Realty logged the most losses.
The broader markets outperformed the benchmark indices as the BSE MidCap and the BSE SmallCap were trading 1.19% and 0.78% higher respectively.
Sixteen out of the 20 sectors on the BSE advanced, with Utilities rising the most and Realty declining the most.
The market breadth was skewed in favour of the buyers as 2,217 stocks rose, 1,567 declined and 185 remained unchanged on the BSE.
Supreme Industries Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue up 11.3% to Rs 2,636 crore from Rs 2,366 crore
Ebitda up 20.4% at Rs 387 crore from Rs 322 crore
Margin up 111 bps at 14.7% from 13.6%
Net profit up 26.8% at Rs 273 crore from Rs 216 crore
Coal India Preferred Bidder For Graphite Block
Emerges as preferred bidder for Khattali Chotti graphite block in Madhya Pradesh
Source: Exchange Filing
Economic Survey 2024
CEA Says
Indian economy on strong wicket and stable footing
Indian economy demonstrating resilience in the face of geopolitical challenges
Private sector capital formation picked up in FY24 at a slower pace
The total number of factory jobs grew annually by 3.6% between FY14 and FY22
Tripartite compact between government, private sector and academia is the need of the hour
Tripartite compact needed to make India a developed economy in the face of unprecedented global challenges
Net taxes at constant prices grew by 19.1%in FY24
Tax growth aided by reasonably strong growth at centre and state levels
Rationalisation of subsidy expenditure also helped
GVA in the agriculture sector continued to grow, albeit at a slower pace.
Erratic weather patterns during the year impacted overall output
Various high-frequency indicators reflect the growth in the services sector
Private final consumption expenditure grew by 4% in real terms in FY24.
Gross Fixed Capital Formation continues to emerge as an important driver of growth
There are early signs that the momentum in private capital formation has been sustained in FY24
Anant Raj Jumps As Its Unit To Collaborate With Google For Data Centre Infra & AI-Solutions
Anant Raj Cloud Pvt. Ltd., a wholly-owned subsidiary of Anant Raj Ltd., entered a memorandum of understanding with Google LLC to provide infrastructure for data centre, and build artificial intelligence driven solutions.
Shares of Anant Raj Ltd. jumped 12.49% to Rs 540.75, the highest level since July 9. It was trading 8.44% higher at Rs 521.10 as of 11:21 a.m., as compared to 0.03% advance in the NSE Nifty 50 index.
The scrip gained 174.50% in 12 months, and 76.4% on year to date basis. Total traded volume on NSE so far in the day stood at 3.13 times its 30-day average. The relative strength index was at 66.25.
Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside/downside of 19.0%
Rupee Weakens To Fresh Record Low Against US Dollar
The local currency weakened 1 paise to a record low of 83.672 against the US dollar.
It closed at 83.66 on Friday.
Source: Bloomberg
Defence Stocks Rise Ahead Of Budget
Dodla Dairy Q1 Results (Consolidated, YoY)
Net profit up 86% at Rs 65 crore vs Rs 35 crore
Revenue up 10.7% at Rs 912 crore vs Rs 823 crore
EBITDA up 74.3% at Rs 105 crore vsRs 60 crore
Margin at 11.5% vs 7.3%
Oberoi Realty Shares Hit Two-Week High After Q1 Profit Almost Doubles
Shares of Oberoi Realty Ltd. rose over 6% to hit a two-week high on Monday after its first-quarter profit nearly doubles, beating analysts' estimates.
Varun Beverages Starts Production At Congo Facility
Starts commercial production of carbonated soft drinks & packaged drinking water at Congo facility
Source: Exchange Filing
TCS Expands Pact With Rolls-Royce
Expands pact to research hydrogen fuel system technology
Source: Exchange Filing
WazirX Announces $24 Million Bounty To Recover Funds
Bounty to recover funds stolen in cyber attack
WazirX invites whitehat hackers, blockchain experts and cybersecurity experts to join bounty programmme
This is the largest bounty announced for such a programme
A cyber attack on WazirX had resulted in loss of $230 million worth cryptocurrency
Source: Company statement
Reliance Industries Shares Tumble As Analysts Trim Earnings Forecasts On Weak Q1
Shares of Mukesh Ambani-led Reliance Industries Ltd. tumbled over 3% on Monday after the net profit of the oil-to-telecom conglomerate fell 17.9% sequentially for the April-June period.
Net profit of the conglomerate dropped 17.9% sequentially to Rs 17,445 crore for the April-June period, compared with the Bloomberg estimate of Rs 17,654.9 crore.
Kirloskar Pneumatic Hits Lowest In Over A Month
Kirloskar Pneumatic Co. Ltd. declined to the lowest level in over one month despite reporting positive earnings for the quarter ended in June. Its net profit rose 27% sequentially to Rs 27 crore, from Rs 18 crore.
HDFC Bank Leads Nifty Recovery As Q1 Results In Line With Estimates
Shares of HDFC Bank jumped over 2% on Monday to contribute the most in Nifty's recovery even as Reliance Industries lost nearly 3%. The stock came out of its four-day losing streak, in which it had fallen nearly 1%.
Monday's gains in the stock came after the company's net profit for the quarter ended June was in line with analysts expectations.
Moreover, it has provided an in-principle approval to initiate the process of listing of HDB Financial Services Ltd. via an initial public offering.
The company's board has delegated the powers to a committee of directors to undertake various steps in this regard, it said in an exchange filing on Saturday.
Kotak Bank Falls As Brokerages Concerned About Margins
"The NIM for the bank saw a sharp sequential decline to 5.02% (-26 bps QoQ) on the back of a continued rise in the cost of funds as well as a TD-led deposit growth," Bernstein Research said.
TARC Appoints Principal Contractor
Appoints Arabian Construction Company as Principal Contractor
Source: Exchange Filing
Nifty PSU Bank Erases Opening Losses
All of the index constituents except Bank Of India were trading higher. State Bank Of India, Bank Of Baroda and Punjab National Bank contributed the most to the gains.
Wipro Logs Worst Fall Since 2020 On Weak Revenue Outlook
Wipro Ltd. fell the most in over four years on Monday as the software service company provided weak revenue outlook in the ongoing quarter. Brokerages have also slashed earning estimates post its results for April-June, and earning outlook.
Nifty, Sensex Open Lower As RIL, Kotak Bank, ICICI Bank Drag: Opening Bell
Benchmark equity index extended their fall from Friday as shares of Reliance Industries and Kotak Mahindra Bank dragged the most after they announced their first quarter results.
At pre-open, the Nifty was at 24445.75, down 0.35% or 85.15 points and the Sensex was lower by 0.24% or 195.78 points at 80408.90.
"The hourly average at 24,380 will act as trend reversal point and we expect volatility to increase from current levels with respect to rollover and budget during the week," said Vikas Jain, head of research at Reliance Securities.
Shares of Reliance Industries Ltd., Kotak Mahindra Bank Ltd., ICICI Bank Ltd., Wipro Ltd., and Axis Bank Ltd. dragged the Nifty.
While those of HDFC Bank Ltd., ITC Ltd., Infosys Ltd., and Hindustan Unilever Ltd., and NTPC Ltd. cushioned the fall.
All sectoral indices fell at open except Nifty FMCG. Nifty Oil & Gas fell the most.
The market breadth was skewed in the favour of sellers. Around 2,020 stocks fell, 1,009 rose and 169 were unchanged on the BSE.
Yield On The 10-Year Bond Advance
The yield on the 10-year bond opened 3 bps higher at 6.99%.
It closed at 6.96% on Friday.
Source: Cogencis
Nifty, Sensex Lower At Pre-Open
At pre-open, the Nifty was at 24445.75, down 0.35% or 85.15 points and the Sensex was lower by 0.24% or 195.78 points at 80408.90.
Motilal Oswal Maintains Buy On HDFC Bank
Target price Rs 1,850
NIMs improve 3bp sequentially
Business growth muted; elevated C/D ratio to suppress loan growth
Estimate 16% CAGR in deposits and 10.1% CAGR in loans over FY24-26
Value at 2.3x FY26E PBV + INR 256 for subsidiaries
Bharat Petroleum Q1 Concall Highlights
Management guided consolidated capex at Rs 16,400 crore
Firm to spend Rs 4,300 crore in refining & petchem, Rs 7,100 crore for marketing
Guides Rs 1.5-1.7 trillion capex over next 4-5 years
Planned 3–4 MMT expansion from existing refineries
Plans to add 300 CNG retail outlets in FY25
Guides Rs 1.5-1.7 trillion capex over next 4-5 years
Planned shutdowns for Bina & Kochi in FY25
No shutdowns are in the works for its Mumbai refinery
Russian crude sourcing at 39% in Q1FY25
Guided 52.5-53 MMT of marketing volumes for FY25
Q1 cracks at $8.6/$14.8 per barrel for gasoline/ HSD
Management expects product cracks to increase in coming quarters
Rupee Flat Against US Dollar
The local currency opened flat at 83.66 against the US dollar.
It closed at 83.66 on Friday.
Source: Bloomberg
Fineotex Chemical Raises Rs 343 Crore
Raises Rs 343 crore via preferential allotment of shares & convertible warrants
Source: Exchange Filing
JSW Energy Gets LoA For 300 MW Solar Project
Got letter of award from Karnataka Renewable Energy Development
Source: Exchange Filing
Macquarie on ITC
Rates outperform with target of Rs 535 (upside 13%)
Sees above peer EBIT growth for cigarette segment
EBIT growth of 35-40% over next 10 years (vs 20% currently)
Pickup in cigarette segment will not impact diversification in non-cigarette segment
Tailwinds across FMCG and hotels to offset weakness in paper
Strong brand affinity and multiple margin levers to manage leaf tobacco inflation
11% EPS CAGR over FY25-27E driven by non-cigarette segment
Demerging segments gaining scale as seen in hotels
Valuation of 45 times for FMCG led business and 20 times for cigarette business
JSW Neo Energy Gets Project From Solar Energy Corp.
Arm JSW Neo Energy gets LoA for 500 MW ISTS-connected solar project with 500 MWh energy storage systems from Solar Energy Corp of India.
Source: Exchange Filing
Brokerages On RIL
Macquarie Raises Target Price To Rs 2,750
Maintains 'neutral' stance
Q1 was a material miss against consensus estimates
Oil to chemicals segment was the key EBIT drag
Retail saw lacklustre revenue growth with elevated store closure
Continues to see downside to EPS
Maintains relative preference for Bharti Airtel
Lowers FY25/26 earnings by 4%/1% post results
Nomura Maintains 'Buy'; Raises Target To Rs 3,600
Company remains top pick in the sector
Q1 results in-line results; O2C delivered well in a challenging environment
Net income of Rs 15,100 crore was 2% below brokerage estimates
Consolidated net debt of moderated sequentially to Rs 1.12 lakh crore
Capex rose to Rs 28,800 crore vs Rs 23,200 crore in Q4FY24
Trims FY25F/26 EBITDA estimates by 3%/2%
Optimistic outlook on Retail store additions, Jio’s tariff increase, O2C benefiting from strong global oil demand growth
Citi on Reliance Industries
RIL reported a weak 1Q, with misses in 3 of its 4 key business segments
Extent of O2C decline, continued retail weakness was particularly disappointing
Lowers FY25/26 EPS estimates by 6%/3%
O2C Ebitda fell 22% QoQ on sharp decline in refining cracks
Jio tariff hikes to benefit company from Q2
Retail segment saw another weak quarter, management attributed softness to weak discretionary demand
Oil & gas segment saw lower production
To watch out for: Upcoming AGM, investors keen to hear updates on Jio/ Retail listing, timelines on new energy project commencements
Global Cues
US Dollar Index at 104.27
US 10-year bond yield at 4.23%
Brent crude up 0.29% at $82.87 per barrel
Nymex crude up 0.45% at $80.49per barrel
GIFT Nifty was flat at 24,405 as of 7:12 a.m.
Bitcoin was up 0.24% at $67,903.31
F&O Cues
Nifty July futures down by 1.13% to 24,529.1 at a discount of 1.8 points.
Nifty July futures open interest down by 6.22%.
Nifty Bank July futures down by 0.8% to 52,270.65 at a premium of 5 points.
Nifty Bank July futures open interest down by 5.97%.
Nifty Options July 25 Expiry: Maximum call open interest at 25,500 and Maximum Put open interest at 23,500.
Bank Nifty Options July 24 Expiry: Maximum call open interest at 56,000 and maximum put open interest at 52,000.
Securities in ban period: Balrampur Chini Mills, Bandhan Bank, GMR Infra, GNFC, HAL, Hindustan Copper, India Cements, PEL, RBL Bank, Sail, Vedanta.
Trading Tweaks
Ex/record Dividend: Divgi Torqtransfer Systems, Voltamp Transformers, Happy Forgings, Exide Industries, Carborundum Universal, Swelect Energy Systems.
Ex/record AGM: Happy Forgings, Voltamp Transformers, Exide Industries, Chembond Chemicals, Carborundum Universal, Swelect Energy Systems.
Moved in short-term Framework: Just Dial.
Moved out short-term Framework: Black Box, DCX Systems, Dynamic Services & Security, IFB Industries, JNK India, Krishna Defence & Allied Industries, Omaxe, Optiemus Infracom, Solara Active Pharma Sciences, Supreme Power Equipment, Suraj Estate Developers, Veranda Learning Solutions.
IPO Offering
Sanstar Limited: The public issue was subscribed 4.16 times on day 1. The bids were led by institutional investors (0.05 times), non-institutional investors (9.85 times), retail investors (4.07 times).
Stocks To Watch
Vedanta: The company raised Rs 8,500 crore via QIP at a floor price of Rs 440 per share. The mining giant won the bid for critical mineral blocks in Karnataka and Bihar under Critical Mineral Auctions Tranche II and III, conducted by the government.
JSW Infra: The company approved purchase of assets under construction at 30 MTPA slurry pipeline project in Odisha's Nuagaon mines from JSW Utkal Steel for Rs 1,700 crore. It also entered into a 20-year agreement at a cost of Rs 1,324 crore per annum for transport of iron ore slurry from Nuagaon to Jagatsinghpur.
IndusInd Bank: The company approved raising up to Rs 20,000 crore via debt securities on a private placement basis, and another Rs 10,000 crore via ADRs, GDRs or QIP.
IRCTC: The government upgraded the company to 'Schedule A' central public sector enterprise from 'Schedule B'.
Vodafone Idea: The company approved third tranche allotment of shares worth Rs 614.5 crore to Nokia India and Ericsson India. The shares to be allotted at an issue price of Rs 14.80 per share.
EMS: The company received an order worth Rs 140 crore from Uttarakhand Power Corp. for the development of distribution infrastructure-loss reduction works in Uttarakhand.
Techno Electric & Engineering: The company raised Rs 1,200 crore via QIP at a floor price of Rs 1,440 per share.
SpiceJet: The company's auditor issued a 'qualified opinion' on FY24 accounts and flagged non-compliance with various laws and regulations.
Indian Bank: The central government extended the term of office of Shanti Lal Jain as managing director and chief executive officer effective Sept. 1 to Dec. 31.
HDFC Life Insurance: The company received a rectification order for tax demand revised from Rs 4,179 crore in March to Rs 1,868 crore.
Anant Raj: The company's unit entered into MoU with Google to provide AI-infused solutions for data infrastructure and security.
Mahindra & Mahindra: The automaker announced its latest SUV brand name, Mahindra 'Thar ROXX' to strengthen its Thar portfolio.
HDFC Bank: The lender's board has given the nod to start the initial public offering process of HDB Financial.
Shriram Properties: The company appoints Gopalakrishnan J, currently group chief financial officer, as executive director and group chief executive officer effective July 20.
HMA Agro Industries: The company entered into a three-year facility agreement with ALM Food Products and ALM Industries to expand business in the processing, freezing and packaging of buffalo meat.
Paisalo Digital: The company will consider raising funds through eligible securities like NCDs or other means on July 25.
KPI Green Energy: The company received a letter of award from Mahagenco for the development of a 100-megawatt solar power project in Maharashtra.
PC Jeweller: The Bank of Baroda accepted a one-time settlement proposal from the company for unsettled dues. The terms include cash, equity, release of securities and mortgaged properties.
HG Infra: The company received a letter from East Central Railway for a Rs 709-crore project in Bihar for construction of double line track.
Also Read: Vedanta Raises Rs 8,500 Crore Via QIP
Earnings In Focus
Coforge, Cyient DLM, Dodla Dairy, Greenlam Industries, IDBI Bank, Indian Overseas Bank, Mahindra Logistics, Maharashtra Scooters, Mangalore Refinery & Petrochemicals, Poly Medicure, Supreme Industries, Suzlon Energy, UCO Bank, Zensar Technologies, ZF Commercial Vehicle Control System India.
Earnings Post Market Hours
Reliance Industries Q1 FY25 (Consolidated QoQ)
Revenue down 1.9% at Rs 2,31,784 crore versus Rs 2,36,533 crore (Bloomberg estimate: Rs 2,32,115 crore).
Ebitda down 8.8% at Rs 38,765 crore versus Rs 42,516 crore (Bloomberg estimate: Rs 39,789 crore).
Ebitda margin at 16.7% versus 17.9% (Bloomberg estimate: 17.1%).
Net profit down 17.9% at Rs 17,445 crore versus Rs 21,243 crore (Bloomberg estimate: Rs 17,416 crore).
Wipro Q1 FY25 (Consolidated, QoQ)
Revenue down 1% at Rs 21,964 crore versus Rs 22,208 crore (Bloomberg estimate: 22,237 crore)
EBIT up 1.8% at Rs 3,625 crore versus Rs 3,560 crore (Bloomberg estimate: Rs 3,543 crore)
EBIT margin at 16.5% versus 16% (Bloomberg estimate: 15.94%)
Net profit up 6.3% at Rs 3,037 crore versus Rs 2,858 crore (Bloomberg estimate: Rs 2,931 crore)
Kotak Mahindra Bank Q1 FY25 (Standalone, YoY)
Net profit up 81% at Rs 6,250 crore versus Rs 3,452 crore. (Bloomberg estimate: Rs 3,760.2 crore).
Net interest income up 10% at Rs 6,842 crore versus Rs 6,234 crore.
HDFC Bank Q1 FY25 (Standalone, QoQ)
Net profit down 2% at Rs 16,174.75 crore versus Rs 16,510 crore (Bloomberg estimate: Rs 15,652 crore).
Net interest income up 2% at Rs 29,837 crore vs Rs 29,080 crore.
JSW Steel Q1 FY 25 (Consolidated, YoY)
Revenue up 1.7% at Rs 42,943 crore versus Rs 42,213 crore (Bloomberg estimate Rs 42,333 crore)
EBITDA down 21.8% at Rs 5,510 crore versus Rs 7,046 crore (Bloomberg estimate Rs 5,781 crore)
Ebitda margin at 12.8% versus 16.7% (Bloomberg estimate 13.7%)
Net profit down 64.3% at Rs 867 crore versus Rs 2,428 crore (Bloomberg estimate Rs 1,280 crore)
Inventory writeback of Rs 2,195 crore in Q1FY23
Union Bank of India (Standalone, YoY)
NII up 6.3% at Rs 9,412 crore versus Rs 8,840 crore.
Profit up 13.6% at Rs 3,679 crore versus Rs 3,236 crore.
Gross NPA 4.5% versus 4.9% (QoQ).
Net NPA 0.9% versus 1.03% (QoQ).
JSW Energy (Consolidated, YoY)
Revenue down 1.7% at Rs 2,879 crore versus Rs 2,928 crore.
Ebitda up 25% at Rs 1,418 crore versus Rs 1,132 crore.
Ebitda margin at 49.2% versus 38.7%.
Net profit up 84% at Rs 534 crore versus Rs 290 crore.
Patanjali Foods Q1 FY25 (Standalone, YoY)
Revenue down 7.7% at Rs 7,173 crore versus Rs 7,767 crore.
Ebitda up 141% at Rs 406 crore versus Rs 168 crore.
Ebitda margin at 5.7% versus 2.2%.
Net profit up 199% at Rs 263 crore versus Rs 88 crore.
Indian Hotels Q1 FY25 (Consolidated, YoY)
Revenue up 5.7% to Rs 1,550 crore (Bloomberg estimate: Rs 1,580.5 crore).
Ebitda up 9.6% to Rs 450 crore (Bloomberg estimate: Rs 458.4 crore).
Margin expands to 29% versus 28% (Bloomberg estimate: 29%).
Net profit up 10% at Rs 260 crore (Bloomberg estimate: Rs 255.1 crore).
Oberoi Realty Q1 FY25 (Consolidated, YoY)
Revenue up 54% to Rs 1,405 crore versus Rs 910 crore (Bloomberg estimate: Rs 1,240.1 crore).
Ebitda up 72% to Rs 815 crore versus Rs 474 crore (Bloomberg estimate: Rs 712.7 crore).
Margin expands to 58% versus 52% (Bloomberg estimate: 57.5%).
Net profit up 82% to Rs 585 crore versus Rs 322 crore (Bloomberg estimate: Rs 515.8 crore).
ICICI Lombard GIC Q1 FY25 (Consolidated, YoY)
Total income up 16% at 5,352 crores versus Rs 4,540 crore.
Profit up 39% at Rs 580.4 crore versus Rs 390.4 crore (Bloomberg estimate Rs 519 crore).
PVR Inox Q1 FY25 (Consolidated, YoY)
Revenue down 8.8% at Rs 1,191 crore versus Rs 1,305 crore (Bloomberg estimate: Rs 1,292 crore).
Ebitda down 28.7% at Rs 252 crore versus Rs 353 crore (Bloomberg estimate: Rs 283 crore).
Ebitda margin at 21% versus 27% (Bloomberg estimate: 21.9%).
Net loss at Rs 179 crore versus loss of Rs 82 crore (Bloomberg estimate: net loss of Rs 165.57 crore).
Transformers And Rectifiers Q1 FY25 (Consolidated, YoY)
Revenue up 107% at Rs 322 crore versus Rs 156 crore (Bloomberg estimate: Rs 187 crore).
Ebitda up 867.7% at Rs 42.2 crore versus Rs 4.4 crore.
Ebitda margin at 13.1% versus 2.8%.
Net profit at Rs 20.8 crore versus loss of Rs 12.2 crore (Bloomberg estimate: Rs 4.5 crore).
Credit Access Grameen Q1 FY25 (Standalone, YoY)
Total income up 29% at Rs 1,513 crore versus Rs 1,171 crore.
Net profit up 15% at Rs 398 crore versus Rs 346 crore.
Tejas Networks Q1 FY25 (YoY)
Revenue up 730.68% at Rs 1,562 crore versus Rs 188.13 crore.
Ebitda at Rs 230.03 crore versus loss of Rs 46.03 crore.
Ebitda margin at 14.71%.
Net profit at Rs 77.48 crore versus loss of Rs 26.29 crore.
Supreme Petrochem Q1 FY25 (Consolidated, YoY)
Revenue up 28% at Rs 1,574 crore versus Rs 1,225 crore.
Ebitda up 78% at Rs 161 crore versus Rs 90 crore.
Ebitda margin at 10.2% versus 7.4%.
Net profit up 76% at Rs 122 crore versus Rs 69 crore.
Nippon Life AMC Q1 FY25 (Consolidated, YoY)
Total income up 35% at Rs 636 crore versus Rs 471 crore.
Net profit up 41% at Rs 332 crore versus Rs 236 crore (Bloomberg estimate: Rs 298 crore).
Route Mobile Q1 FY25 (Consolidated, QoQ)
Revenue up 8.5% at Rs 1,103 crore versus Rs 1,017 crore (Bloomberg estimate: 1,108 crore).
Ebitda down 1.3% at Rs 124 crore versus Rs 125 crore (Bloomberg estimate: Rs 136.5 crore).
Ebitda margin at 11.2% versus 12.3% (Bloomberg estimate: 12.3%).
Net profit down 14.7% at Rs 81 crore versus Rs 95 crore (Bloomberg estimate: 91.2 crore).
RBL Bank Q1 FY25 (Standalone, YoY)
Net profit up 29% at Rs 372 crore versus Rs 288 crore (Bloomberg estimate: 344.5 crore).
Net interest income up 20% at Rs 1,700 crore versus Rs 1,422 crore
YES Bank Q1 FY25 (Standalone, YoY)
Net profit up 46.4% at Rs 502.4 crore versus Rs 343 crore. (Bloomberg estimate: 376.4 crore).
Net interest income up 12.2% at Rs 2,243.9 crore versus Rs 2,000 crore.
Kirloskar Pneumatic Q1 FY25 (Consolidated, QoQ)
Net profit up 50% at Rs 27 crore versus Rs 18 crore.
Ebitda up 48% at Rs 39 crore versus Rs 27 crore.
Ebitda margin at 14.3% versus 11%.
Revenue up 13.7% at Rs 275 crore versus Rs 242 crore.
Poonawalla Fincorp (YoY)
Net profit up 45.6% at Rs 292 crore versus Rs 200 crore (Bloomberg estimate: Rs 286 crore).
Revenue up 40% at Rs 996 crore versus Rs 712 crore.
Gravita India (Consolidated, YoY)
Revenue up 29% at Rs 909 crore versus Rs 703 crore.
Ebitda up 50% at Rs 88 crore versus Rs 58 crore.
Ebitda margin at 9.7% versus 8.3%.
Net profit up 29.4% at Rs 68 crore versus Rs 53 crore.
Rossari Biotech Q1 FY25 (Consolidated, YoY)
Revenue up 19.3% at Rs 490 crore versus Rs 411 crore.
Ebitda up 12.4% at Rs 65 crore versus Rs 58 crore.
Ebitda margin at 13.3% versus 14%.
Net profit up 19.4% at Rs 35 crore versus Rs 29 crore.
Can Fin Homes (YoY)
Total income up 13% at Rs 931 crore versus Rs 824 crore.
Net profit up 8.8% at Rs 200 crore versus Rs 184 crore.
GIFT Nifty Trades Above 24,400
Other Asian indices opened the week on a negative note with Japan's Nikkei and South Korea's Kospi losing nearly 1%. Australia's S&P ASX 200 was 0.7% lower.
Globally, investors will look forward to developments over the US presidential nominations and Japan's PMI data due this week.
The July futures contract of the GIFT Nifty was flat at 24,421 points.
India's benchmark stock indices declined on Friday, weighed down by Reliance Industries and Tata Steel. The NSE Nifty 50 ended 275.25 points, or 1.11% lower at 24,800.85, and the S&P BSE Sensex settled down 738.81 points, or 0.91%, to 81,343.46.
The indices rallied for seven straight weeks for the second consecutive session since Dec. 11, 2023.
Overseas investors remained net buyers of Indian equities for the fifth consecutive session on Friday. Foreign portfolio investors mopped up stocks worth Rs 1,506 crore, while domestic institutional investors stayed net sellers for the fifth session and sold equities worth Rs 462 crore, the NSE data showed.
The Indian rupee closed 3 paise lower at Rs 83.66 after against the US dollar.
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