KEY HIGHLIGHTS
Rupee Flat Against US Dollar
The local currency closed flat at 83.66 against the US dollar.
It closed at 83.66 on Thursday.
Source: Bloomberg
Nifty, Sensex Extend Rally To Seventh Week; Infosys, ITC, Lead Friday's Gains: Market Wrap
India's benchmark stock indices declined on Friday, weighed down by Reliance Industries Ltd. and Tata Steel Ltd. However, shortly after open, the NSE Nifty 50 had risen 0.22% to a life high of 24,854.80., led by gains in Tata Consultancy Services Ltd. and Infosys Ltd.
Gains in Friday's Nifty 50 and BSE Sensex indices were led by Infosys Ltd. and ITC Ltd.
The NSE Nifty 50 ended 275.25 points or 1.11% lower at 24,800.85, and the S&P BSE Sensex settled 738.81 points or 0.91% lower to arrive at 81343.46 .
Intraday, the Nifty 50 declined 1.18% to 24,508.15, and the Sensex declined 1.04% to 80,499.10
India's benchmark stock indices rallied for seven straight weeks for the second consecutive consecutive session since 11 Dec, 2023.
The Nifty 50 plunged amid global selloff. Broader market witnessed sharper selling pressure and fell more than 2%, said Siddhartha Khemka, head, Retail Research at Motilal Oswal Financial Services Ltd.
"All the sectors ended in red with Metals being the biggest loser which fell 4%. However IT sector was quiet resilient post better than expected results posted by Infosys. Investors also shifted towards defensive sector like FMCG which is witnessing demand revival with increasing rural recovery," Khemka said.
"Overall markets got impacted due to new tensions between US and China which resulted in global profit booking. In addition, Microsoft outage impacted lot of large organizations, airlines, stock exchanges globally. Investors are also cautious ahead of Union Budget next week on 23rd July which will provide next set of direction to the market. Earnings season will also pick up pace which will result in stock specific actions. Apart from Budget, US Core PCE data and PMI data will be key events to monitor," Khemka added.
On weekly basis, the benchmarks have held its best stretch of gains in over seven months as it has risen for straight seven weeks. The Nifty 50 has gained 0.12% and the Sensex has gained 0.11% in the week ended on July 19.
Reliance Industries Ltd., HDFC Bank Ltd., Tata Steel Ltd., NTPC Ltd., and Mahindra & Mahindra Ltd. weighed on the index.
Infosys Ltd., ITC Ltd., Asian Paints Ltd., and Britannia Industries Ltd. limited lossed in the index.
This week, six sectors declined, four advanced, and two remained flat out of 12. The NSE Nifty Media declined the most, and the NSE Nifty IT rose the most.
Broader markets underperformed benchmark indices. The S&P BSE Midcap and Smallcap were 2.31% and 2.22% lower, respectively.
On BSE, all 20 sectors ended lower with the S&P BSE Metal emerging as the worst performing sector.
Market breadth was skewed in favour of sellers. Around 3,005 stocks declined, 906 stocks advanced, and 90 stocks remained unchanged on BSE.
ONGC Videsh To Acquire Stake In Azerbaijan's ACG
ONGC Videsh to acquire stake in Azerbaijan's ACG oil field for $60 million.
Source: Exchange filing
US FDA's Inspection At Zydus Life's Ahmedabad Site Closes
US Food and Drug Administration inspection at Zydus Lifesciences Ltd. Ahmedabad transdermal manufacturing site closes with 2 observations.
Source: Exchange filing
BPCL Q1 Earnings Key Highlights (QoQ)
Net profit at Rs 3,015 crore vs Rs 4,224 crore
Revenue at Rs 1.13 lakh crore vs Rs 1.16 lakh crore
Ebitda fell 39% at Rs 5,650 crore vs Rs 9,213 crore
Ebitda margin at 5% vs 8%
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UltraTech Cement Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 1.87% at Rs 18,070 crore vs Rs 17,737 crore
Ebitda fell 0.3% at Rs 3,039.72 crore vs Rs 3,049.08 crore
Margin fell 36 basis points at 16.82% vs 17.19%
Net profit rose 0.29% at Rs 1,695.22 crore vs Rs 1,690.22 crore
SBI's Operation Unaffected By Microsoft Glitch
State Bank of India's operation is unaffected by Microsoft outage, said Chairman Dinesh Kumar Khara.
Source: PTI
Blue Dart Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue up 8.5% at Rs 1,343 crore vs Rs 1,238 crore
Ebitda up 6% at Rs 202 crore vs Rs 191 crore
Ebitda margin at 15.1% vs 15.4%
Net profit down 12.8% at Rs 53.4 crore vs Rs 61.3 crore
Muthoot Microfinance Cuts Interest Rates By 35 Basis Points
Muthoot Microfinance Ltd. has cut interest rates by 35 basis points, effectively reducing lending rate to 23.30% from 23.65%.
Source: Exchange filing
Government Takes Note Of Microsoft Outage
Ministry of Electronics and Information Technology's Indian Computer Emergency Response Team notes outage of Microsoft Windows due to Crowd Strike agent Falcon Sensor update
Issues occurred in the latest update of CrowdStrike and changes have been reverted by the CrowdStrike Team.
Source: Government advisory
Atul Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 11.8% at Rs 1,322 crore vs Rs 1,182 crore
Ebitda rose 22.5% at Rs 223 crore vs Rs 182 crore
Margin at 16.9% vs 15.4%
Net profit rose 9.8% at Rs 112 crore vs Rs 102 crore
Jubilant Pharmova Q1 Earnings Key Highlights (Consolidate, YoY)
Net profit at Rs 482 crore vs Rs 6 crore
Revenue rose 9.8% at Rs 1,720 crore vs Rs 1,567 crore
Ebitda rose 60.2% at Rs 240 crore vs Rs 150 crore
Ebitda margin at 13.9% vs 9.6%
NSE Unaffected Due to Microsoft Azure Outage
National Stock Exchange Ltd.'s operation is unaffected due to global Microsoft Azure Outage.
Fedbank Financial Q1 Earnings Key Highlights
Total income rose 33.5% at Rs 491 crore vs Rs 368 crore
Net profit rose 30.3% at Rs 70 crore vs Rs 54 crore
US FDA Closes One Observation On Divi's Labs' Facility
The US Food Drug Administration's inspection at Vishakhapatnam manufacturing facility of Divi's Laboratories Ltd. closes with one observation.
Source: Exchange filing
No Issues On BSE Due To Microsoft Global Outage
BSE Ltd. has not experienced no issues in its operations to due to technical glitches on Microsoft products and services that halted flight operation across the globe.
Source: BSE's spokesperson
Microsoft Continues To Take Mitigate Actions
Our services are still seeing continuous improvements while we continue to take mitigation actions.
Source: Microsoft 365's official X handle.
Brokerages' Stocks Fall As Microsoft Outage Impacts Operation
Angel One Ltd. fell over 3%
5Paisa Capital Ltd. declined nearly 3%
IIFL Securities Ltd. fell over 2%
Facing Global Outage For Microsoft And CrowdStrike, Says Vistara In Email To Employees
Applications and websites hosted on Microsoft impacted
Issue being worked upon
Booking website/app, V-Assist, Airport CUTE infra at multiple airports affected
Source: Copy of email reviewed by NDTV Profit
Aether Industries Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 11.8% at Rs 180 crore vs Rs 161 crore
Ebitda fell 3.4% at Rs 43 crore vs Rs 45 crore
Margin 24% vs 27.8%
Net profit flat at Rs 30 crore
Board approves raising up to Rs 1,300 crore
Tribunal Passes Order Against RVNL
Tribunal passes award worth Rs 584 crore in favour of Krishnapatnam Railway Co in dispute against Rail Vikas Nigam Ltd.
Source: Exchange filing
Nazara Tech To Acquire Stakes In Paper Boat Apps
Nazara Technologies Ltd. has approved an acquisition of 48.42% stake in Paper Boat Apps for up to Rs 300 crore.
The company is to hold 100% stake in Paper Boat Apps post acquisition.
Source: Exchange filing
CaratLane Becomes Titan Co's Wholly-Owned Subsidiary
CaratLane has became wholly-owned subsidiary of Titan Co.
Source: Exchange filing
Shoppers Stop Stock Drops After June-Quarter Loss
Shares of Shoppers Stop Ltd. fell in early trade after reporting a consolidated net loss of about Rs 23 crore in the first quarter of fiscal 2025, compared to a profit of Rs 14 crore in the year-ago quarter.
Shares of Shoppers Stop Ltd. fell as much as 6.02% before paring loss to trade 5.61% lower at Rs 773.35 apiece, compared to a 0.39% decline in the benchmark NSE Nifty 50 as of 10:08 a.m.
The stock has risen 0.15% in the last 12 months and 12.24% year-to-date. The relative strength index was at 48.07.
Six out of the 10 analysts tracking the company have a 'buy' rating on the stock, two recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price target implies a potential upside of 7.9%.
Thermax Incorporates New Subsidiary In Manufacturing Space
Thermax Ltd. has incorporated an wholly-owned step-down subsidiary TVPIPL at paid-up share capital of Rs 8.1 crore.
Alert: TVPIPL stands for Thermax Vebro Polymers India Private Ltd.
Source: Exchange filing
Sandur Manganese Gets Approval For Acquiring Arjas Steel
Sandur Manganese and Iron Ore Ltd. has received an approval from CCI for strategic business acquisition of Arjas Steel.
Source: Exchange filing
Highlights From Paytm Media Call
Payments & operating metrics rebounding to Jan'24 levels
Expect revenue & profitability to improve from here now
Merchant subscriptions reaching Jan'24 levels
Expect per device subscription revenue to increase as merchant onboarding increases
Gross Merchandise Value has revived on consumer side
Awaiting approvals to start new customer onboarding
Expanding loan services by integrating more lending partners
This would include secured products like loan against property
Expect take-rate to come around 3%
On account of disruption in Paytm Payments Bank, our revenue & profitability have declined
Stopped some other products where we thought the regulator may have concerns
Value of loans has been broadly stable on sequential basis
Will communicate about Paytm Wallet once we have a plan. It's a bank product
As a distributor, if we are looking for any partnerships, we will inform as and when we plan
Rallis India Falls To Over Two-Week Low Post Bleak Earnings
Rallis India Ltd. declined to the lowest level in over two weeks after the company posted decline in profit and flat revenue during April-June.
Rallis India Ltd. has fell 6.87% to Rs 317.10, the lowest level since July 3. It was trading 6.37% lower at Rs 318.45 as of 11:20 a.m., as compared to 0.59% decline in the NSE Nifty 50 index.
The scrip gained 45.78% in 12 months, and 6.46% on year to date basis. Total traded volume on NSE so far in the day stood at 0.47 times its 30-day average. The relative strength index was at 47.66
Out of 16 analysts tracking the company, two maintain a 'buy' rating, five recommend a 'hold,' and nine suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 20.6%
Paytm Q1 Results Key Highlights (Consolidated QoQ)
Net loss of Rs 840 crore vs loss of Rs 551 crore
Revenue fell 34% at Rs 1,502 crore vs Rs 2,267 crore
Ebitda loss of Rs 792 crore vs loss of Rs 223.5 crore
Caplin Point's Unit Get US FDA Approval For Low Blood Pressure Drug
Caplin Point Laboratories Ltd.'s subsidiary Caplin Steriles received a US Food and Drug Administration approval for Ephedrine Sulphate injection Caplin Pt 1484.5.
Alert: Ephedrine Sulphate is generic therapeutic equivalent of AKOVAZ, which is used in treatment of low blood pressure.
Source: Exchange filing
Nifty Trades Near Day's Low
The NSE Nifty 50 was trading 0.52% and 129.65 points lower 24,671.20 as of 10:53 a.m.
KP Energy Commissions Wind Power Project In Dwarka
KP Energy Ltd. has commissioned a 23.1MW (phase-X) ISTS connected wind power project in Dwarka.
Source: Exchange filing
Citi Research On Tata Technologies
Maintain sell with a target price Rs 935 compared to Rs 900 earlier, which implied a downside 6.5%
Managed EBIT margins well despite soft revenue growth
Weak growth aided by lower outsourcing & consultancy charges.
No drag from VinFast going ahead
Reported weak start to FY25
The management seems confident of demand outlook,
Some peers have indicated moderation in automotive spends to be monitored going forward.
Elecon Engineering Falls After Hitting Life High Post Stock Split
Shares of Elecon Engineering jumped 11.93% to 716.75, the highest level since its listing on Sep 29, 2006. It pared most gains to trade 0.30% higher at Rs 642.30 as of 10:33 a.m., as compared to 0.33% decline in the NSE Nifty 50 index.
The company is splitting its one stock with a face value of Rs 2 in to two stocks with face value of Rs 1 each, it said in an exchange filing on Monday.
Elecon Engineering Ltd. has 11.22 crore total outstanding share as of June 30, according to data on NSE.
Persistent Systems Tumbles To Over One-Week Low As Net Profit Falls
Shares of Persistent Systems Ltd. stumbled to over one week low after it reported a decline in its net profit during April-June.
Persistent Systems Ltd. fell over 7% to Rs 4,799.85, the lowest level since July 11. It was trading 4.71% lower at Rs 4,665.75 as of 10:16 a.m., as compared to 0.48% decline in the NSE Nifty 50 index.
The scrip gained 95.35% in 12 months, and 25.52% on year to date basis. Total traded volume so far in the day stood at 1.03 times its 30-day average. The relative strength index was at 60.90.
Out of 36 analysts tracking the company, 17 maintain a 'buy' rating, eight recommend a 'hold,' and 11 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 16.2%.
Infosys Jumps Nearly 5% After Guiding For Higher Revenue In FY25 Post Positive Results
Shares of Infosys Ltd. shot up nearly 5% when markets opened on Friday morning as the software service company guided for higher revenue for the ongoing financial year 2025, as it posted better-than-expected first quarter results after markets closed on July 18.
Infosys' stock rose as much as 4.89% in early trade to over a two-year high of Rs 1,844 apiece on the NSE. The previous high of Rs 1,953.9 was recorded on Jan. 17, 2022. It was trading 3.19% higher at Rs 1,814 apiece, compared to a 0.23% decline in the benchmark Nifty 50 as of 9:25 a.m.
It has risen 17.6% in the last 12 months and 18.6% on a year-to-date basis. The relative strength index was at 86.
Out of 47 analysts tracking the company, 32 maintain a 'buy' rating, eight recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data.
Nifty Falls After Opening At Record High As RIL, ICICI Bank Drag
Indian benchmarks opened higher with the NSE Nifty 50 touching fresh high. However, shortly after, it erased all gains as heavyweight Reliance Industries Ltd., ICICI Bank Ltd. dragged.
As of 09:25 a.m., the Nifty 50 56.35 points or 0.23% lower at 24,755.20, and the S&P BSE Sensex was 39.83 points or 0.5% lower at 81,303.63.
Shortly after open, the Nifty 50 scaled a fresh high of 24,841.
For Nifty 50 and Sensex 24,700-24,600/81,000-80,700 can serve as immediate support. Above 24,850/81,600, the market may continue its positive momentum towards 24,950-25,000/81,900-82,000. The strategy should be to buy around support levels and reduce long positions at resistance levels, said Shrikant Chouhan, head equity research, Kotak Securities.
Reliance Industries Ltd., ICICI Bank Ltd., Axis Bank Ltd., Power Grid Corp of India Ltd., and Bharti Airtel Ltd. added to the benchmark index,
Infosys Ltd. Tata Consultancy Services Ltd., HCL Technologies Ltd., LTIMindtree Ltd., and Bajaj Auto Ltd. added to the index.
On NSE, 11 sectors declined at open, and one advanced out of 12. The NSE Nifty Metal led losses, and the NSE Nifty IT led gains.
On BSE, broader markets declined. The S&P BSE Midcap and Smallcap were trading 0.50% and 0.29% lower, respectively.
On BSE, 15 sectors declined, and five advanced out of 20. The S&P BSE Metal declined the most, and the S&P BSE IT rose the most.
Market breadth was skewed in favour of sellers. Around 1,828 stocks fell, and 1,124 stocks advanced, and 117 stocks remained unchanged on BSE.
Nifty, Sensex Trade Higher At Pre-Open
At pre-open, the NSE Nifty 50 was 0.21% or 52.95 points higher at 24,853.80, and the S&P BSE Sensex was 0.30% or 241.60 points higher at 81,585.06.
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Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.97%.
It closed at 6.97% on Thursday.
Source: Cogencis
Rupee Strengthens Against US Dollar
The local currency strengthened by 3 paise to open at 83.63 against the US dollar.
It closed at 83.66 on Thursday.
Source: Bloomberg
Sona BLW To Consider Raising Fund
Sona BLW Precision Forgings Ltd. has considered raising fund via issue of shares, equity linked instruments, QIP on July 24.
Source: Exchange filing
Samhi Hotels In Agreement With Marriott To Rebrand Hotels
Samhi Hotels Ltd. has signed a management agreement with Marriott for rebranding two hotels in Pune and Jaipur.
It has also signed a pact with Marriott for 4 ACIC hotels to be converted from franchise to management agreements.
Source: Exchange filing
Global Cues
U.S. Dollar Index at 104.25
U.S. 10-year bond yield at 4.21%
Brent crude down 0.58% at $84.62 per barrel
Nymex crude down 0.74% at $82.21 per barrel
Bitcoin was down 0.06% at $63,781.39
The GIFT Nifty was 0.13% or 33 points higher at 24,851.50 as of 07:56 a.m.
Money Market Update
The Indian rupee closed weaker on Thursday on dollar demand by oil importers amid rising oil prices. The local currency closed 8 paise weaker against the US dollar to Rs 83.66, marking its lowest closing level.
F&O Cues
Nifty July futures up by 0.67% to 24,809 at a premium of 8.2 points.
Nifty July futures open interest up by 4.9%.
Nifty Bank July futures up by 0.24% to 52,670.35 at a premium of 49.65 points.
Nifty Bank July futures open interest down by 0.68%.
Nifty Options July 25 Expiry: Maximum call open interest at 25,500 and maximum put open interest at 24,000.
Bank Nifty Options July 24 Expiry: Maximum call open interest at 56,000 and maximum put open interest at 50,000.
Securities in ban period: Balrampur Chini Mills, Bandhan Bank, GMR Infra, GNFC, HAL, Hindustan Copper, India Cements, PEL, RBL Bank, Sail, and Vedanta.
Trading Tweaks
Price Band change from 20% to 10%: Mahanagar Telephone Nigam.
Ex/record Dividend: JSW Infrastructure, Life Insurance Corp, Shanthi Gears, Sumitomo Chemical India, Transport Corp., Zensar Technologies, Zydus Wellness, RS Software (India), Indian Hume Pipe, Bosch, Cholamandalam Investment and Finance, Cummins India, Dabur India, Delta Corp, Hitech Corp, Graphite India, Shree Digvijay Cement, PDS, Tech Mahindra, Lloyds Engineering Works, Dhanuka Agritech, Chennai Petroleum Corp., TCS, Blue Star, Bajaj Electricals, Arvind, ICRA, Union Bank of India, Kotak Mahindra Bank.
Ex/record AGM: TIPS Industries, Transport Corp., Indian Hume Pipe Co., Bosch, Cummins India, Dabur India, PDS, Tech Mahindra, ICRA, Union Bank of India.
Ex/record stock split: Elecon Engineering.
Moved out short-term Framework: GE Power India, Indowind Energy, Suven Life Sciences.
IPO Offering
Sanstar: The company will offer its shares for bidding on Friday. The price band is set from Rs 90 to Rs 95 per share. The Rs 510.2-crore IPO is a combination of a fresh issue of Rs 397.1 crore and the rest is offer for sale. The company has raised Rs 153 crore from anchor investors.
Bulk Deals
India Cements: Societe Generale sold 17.41 lakh shares (0.56%) at Rs 342.66 apiece.
Stocks To Watch
HAL: The company amended its MoU with the Aeronautical Development Agency for the completion of LCA AF Mk-2 development. The completion will lead to operation clearance for a value of Rs 2,970 crore.
GPT Infraprojects: The NHAI and Eastern Railway enhanced their existing contract with the company to Rs 103 crore. The outstanding order book for the company now stands at Rs 3,775 crore, with a total order inflow for fiscal 2025 of Rs 803 crore.
Vodafone Idea: The telco approved the first tranche allotment of shares worth Rs 615 crore to Nokia India and Ericsson India at an issue price of Rs 14.80 per share.
Tech Mahindra: The company will restructure its operations in the Philippines.
Dr Reddy's Labs: The company has signed a non-exclusive patent licensing agreement with Takeda Pharma for Vonoprazan tablets in India.
Zydus Life: The US FDA inspected the Jarod manufacturing facility and closed it with an 'official-action-indicated' classification.
Tata Technologies: The company signed an MoU with Arm to develop automotive software and systems solutions for software-defined vehicles.
Ircon International: Hari Mohan Gupta is designated as CEO effective July 1. The Railways Ministry approved the closure of Indian Railway Stations Development Corp. JV, in which the company holds a 26% stake.
Coromandel International: The company raised its stake in unit Coromandel Crop Protection Philippines to 93.2% from 40%.
JTL Industries: The company opened its QIP at a floor price of Rs 221.57 per share.
Earnings In Focus
Aether Industries, Atul, Blue Dart Express, Bharat Petroleum Corp, CreditAccess Grameen, ICICI Lombard General Insurance, JSW Steel, Jubilant Pharmova, Nippon Life AMC, Oberoi Realty, Patanjali foods, One 97 Communications, PVR Inox, Reliance Industries, Route Mobile, Supreme Petrochem, Tejas Networks, Transformers and Rectifiers, UltraTech Cement, Union Bank of India, and Wipro.
Earnings Post Market Hours
Infosys Q1 FY25 (Consolidated, QoQ)
Revenue up 3.7% at Rs 39,315 crore versus Rs 37,923 crore (Bloomberg estimate Rs 38,810 crore)
EBIT up 8.8% at Rs 8,288 crore versus Rs 7,621 crore (Bloomberg estimates Rs 802.4 crore)
EBIT margin at 21.1% versus 20.1% (Bloomberg estimates 20.7%)
Net profit down 20.1% at Rs 6,374 crore versus Rs 7,975 crore (Bloomberg estimates Rs 6,253 crore)
Persistent Systems Q1 FY25 (Consolidated, QoQ)
Revenue up 5.7% at Rs 2,737 crore versus Rs 2,590 crore (Bloomberg estimates Rs 2,711 crore)
EBIT up 2.5% at Rs 384 crore versus Rs 375 crore (Bloomberg estimates Rs 379 crore)
EBIT margin at 14% versus 14.5% (Bloomberg estimates 13.9%)
Net profit down 2.9% at Rs 306 crore versus Rs 315 crore (Bloomberg estimates Rs 303.4 crore)
Tata Technologies Q1 FY25 (Consolidated, QoQ)
Revenue down 2.5% at Rs 1,269 crore versus Rs 1,301 crore (Bloomberg estimates Rs 1,337 crore)
EBIT down 4.5% at Rs 201 crore versus Rs 211 crore (Bloomberg estimates Rs 217.1 crore)
EBIT margin at 15.9% versus 16.2% (Bloomberg estimates 16.2%)
Net profit up 3.2% at Rs 162 crore versus Rs 157 crore (Bloomberg estimate Rs 184 crore)
L&T Tech Q1 FY25 (Consolidated, QoQ)
Revenue down 3% at Rs 2,462 crore versus Rs 2,538 crore (Bloomberg estimate Rs 2,532 crore)
EBIT down 10.4% at Rs 384 crore versus Rs 428 crore (Bloomberg estimate Rs 478 crore)
EBIT margin 15.6% versus 16.9% (Bloomberg estimate 18.9%)
Net profit down 8% at Rs 314 crore versus Rs 341 crore (Bloomberg estimate Rs 324 crore)
Ceat Q1 FY25 (Consolidated, YoY)
Revenue up 8.8% at Rs 3,193 crore versus Rs 2,935 crore
EBITDA down 1.1% at Rs 383 crore versus Rs 387 crore
EBITDA margin at 12% versus 13.2%
Net profit up 7.1% at Rs 154 crore versus Rs 144 crore
JSW Infra Q1 FY25 (Consolidated, YoY)
Revenue up 15% at Rs 1,010 crore versus Rs 878 crore (Bloomberg estimate Rs 1,050 crore)
Ebitda up 14% at Rs 515 crore versus Rs 451 crore (Bloomberg estimate Rs 549 crore)
Ebitda margin at 51% versus 51.4% (Bloomberg estimate 52.3 crore)
Net profit down 7.8% at Rs 297 crore versus Rs 322 crore (Bloomberg estimate Rs 327 crore)
South Indian Bank Q1 FY25 (Standalone, YoY)
NII up 7% at Rs 866 crore versus Rs 808 crore
Net profit up 46% at Rs 294 crore versus Rs 202 crore (Bloomberg estimate Rs 293 crore)
Net NPA at 1.44% versus 1.46% QoQ
Gross NPA flat at 4.5% QoQ
Sagar Cements Q1 FY25 (Consolidated, YoY)
Revenue up 4% at Rs 560.6 crore versus Rs 540 crore
Ebitda up 53% at Rs 47 crore versus Rs 31 crore
Ebitda margin at 8.3% versus 5.7%
Net loss at Rs 32 crore versus loss of Rs 42 crore
Dalmia Bharat Q1 FY25 (Consolidated, YoY)
Revenue flat at Rs 3,621 crore versus Rs 3,627 crore (Bloomberg estimate Rs 3,572 crore)
Ebitda up 9% at Rs 669 crore versus Rs 613 crore (Bloomberg estimate Rs 557 crore)
Ebitda margin at 18.5% versus 16.9% (Bloomberg estimate 15.6%)
Net profit up 0.7% at Rs 145 crore versus Rs 144 crore (Bloomberg estimate Rs 142 crore)
Exceptional loss of Rs 113 crore in current quarter due to insolvency proceedings against Jaiprakash Associates after signing agreement to acquire identified cement assets.
Shoppers Stop Q1 FY25 (Consolidated, YoY)
Revenue up 7.6% at Rs 1,069 crore versus Rs 994 crore
Ebitda down 17% at Rs 143 crore versus Rs 172 crore
Ebitda margin at 13.4% versus 17.3%
Net loss at Rs 23 crore versus profit of Rs 14 crore
Rallis India Q1 FY25 (YoY)
Revenue flat at Rs 783 crore versus Rs 782 crore
Ebitda down 12.7% at Rs 96 crore versus Rs 110 crore
Ebitda margin at 12.3% versus 14.1%
Net profit down 23.8% at Rs 48 crore versus Rs 63 crore.
CIE Automotive Q1 FY 25 – (Consolidated, YoY)
Revenue down 1.2% at Rs 2,293 crore versus Rs 2,320 crore
Ebitda down 2.8% at Rs 360 crore versus Rs 370 crore
Ebitda margin at 15.7% versus 16%
Net profit down 28.1% at Rs 216.8 crore versus Rs 301.7 crore
Tanla Platforms Q1 FY25 (Consolidated, QoQ)
Revenue flat at Rs 1,002 crore versus Rs 1,005 crore
EBIT up 20.6% at Rs 166 crore versus Rs 138 crore
EBIT margin at 16.5% versus 13.7%
Net profit up 8.4% at Rs 141 crore versus Rs 130 crore
GIFT Nifty Trading Above 24,800
Most share indices in the Asia-Pacific region extended losses on Friday, taking cues from their Wall Street peers as sell off in technology stocks continued.
The Nikkei 225 was trading 79.27 points or 0.20% higher at 40,205.62, and the S&P ASX 200 was trading 98.30 points or 1.22% lower at 7,938.20. The Kospi was 28.45 points or 1.01% lower at 2,795.90 as of 06:58 a.m.
A week of market fluctuations saw major US stock indices decline while smaller firms and those beyond the mega-cap technology sector thrived, driven by expectations of Federal Reserve rate cuts.
The S&P 500 and Dow Jones Industrial Average were trading 0.78% and 1.29% lower as of Thursday. Nasdaq Composite was down 0.70%.
The GIFT Nifty was trading 0.04% or 10 points higher at 24,828.50 as of 06:59 a.m.
In commodities, the September contract of Brent crude on Intercontinental Exchange fell 0.51% to trade at $84.60 per barrel, while gold spot declined 0.83% at $2,424.73 an ounce.
India's benchmark stock indices ended at a fresh record high for the fourth consecutive session on Thursday amid volatility, led by gains in Tata Consultancy Services Ltd. and Infosys Ltd.
The NSE Nifty 50 gained 187.85 points, or 0.76%, to end at a new record closing high of 24,800.85. The S&P BSE Sensex gained 626.91 points, or 0.78%, to end at a fresh lifetime closing high of 81,343.46.
Overseas investors remained net buyers of Indian equities for the fourth consecutive session on Thursday. Foreign portfolio investors mopped up stocks worth Rs 5,485 crore, while domestic institutional investors stayed net sellers for the fourth session and sold equities worth Rs 2,904 crore, the NSE data showed
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