KEY HIGHLIGHTS
Rupee Ends At Record Closing Low Against US Dollar
-Rupee weakened 12 paise to close at a record low of 83.96 against the US dollar.
-It closed at 83.84 on Monday.
Source: Bloomberg
Nifty, Sensex End At Lowest In Over A Month As Finance, Auto Stocks Drag: Closing Bell
Benchmark equity indices erased all their morning gains in the second half of the session to record their lowest closing in a month and a third consecutive session of fall.
The Nifty fell 63.05 points or 0.26% to end at 23992.55 and Sensex fell 166.33 points or 0.21% to end at 78593.07. Intraday, the Nifty had risen 1.36% and the Sensex had risen 1.39%.
"The near-term outlook for Nifty 50 turned bearish unless it gives a convincing move above 24,400 while on the downside, 50 day moving average support that is 23,880 will be considered as immediate support," said Aditya Gaggar, director of Progressive Shares.
Shares of HDFC Bank Ltd., State Bank Of India, Bharti Airtel Ltd., Mahindra & Mahindra Ltd., and ICICI Bank dragged the Nifty.
While those of Reliance Industries Ltd., Larsen & Toubro Ltd., Hindustan Unilever Ltd., HCL Technologies Ltd., and JSW Steel Ltd cushioned the fall.
Most sectoral indices fell with Nifty PSU Bank being the top loser. Nifty Realty rose the most.
Market breadth was skewed in favour of sellers. Around 2,428 stocks declined, 1,487 stocks rose, and 106 stocks remained unchanged.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.71% and 0.57% lower, respectively.
On BSE, 16 sectors ended on a negative note, and four settled higher. The BSE Telecommunication declined the most, while the BSE Realty rose the most
Market At Close
Nifty, Sensex fall for third consecutive session
Nifty hit intraday low of 23,960.40
Sensex hit intraday low of 78,496.57
Nifty closed at its lowest level since June 28
Sensex closed at its lowest level since June 25
Broader indices underperformed; Nifty Midcap 100 ended 0.61% lower and Nifty Smallcap 250 ended 0.39% down
Among sectoral indices, Nifty Realty was the top gainer and Nifty PSU Bank fell the most
Nifty fell 63.05 points to end at 23992.55 and Sensex fell 166.33 points to end at 78593.07
Britannia and JSW Steel were top Nifty gainers; HDFC Life and SBI Life were top losers
Blue Star Q1 Results (Consolidated, YoY)
Net profit at Rs 169 crore vs Rs 83 crore
Revenue up 28.7% at Rs 2,865 crore vs Rs 2,226 crore
EBITDA up 64.1% at Rs 238 crore vs Rs 145 crore
Margin at 8.3% vs 6.5%
J Kumar Infra Q1 Earnings (Consolidated, YoY)
Net profit up 17.8% at Rs 86 crore vs Rs 73 crore
Revenue up 13.3% at Rs 1,281 crore vs Rs 1,131 crore
EBITDA up 14.3% at Rs 184 crore vs Rs 161 crore
Margin at 14.4% vs 14.2%
CBI Registers Case Against Hindalco
Central Bureau of Investigation has registered a case against Hindalco Industries.
Solar Industries Q1 Earnings (Consol, YoY)
Net profit up 49% at Rs 301 crore vs Rs 202 crore
Revenue up 0.8% at Rs 1,695 crore vs Rs 1,682 crore
EBITDA up 39% at Rs 449 crore vs Rs 323 crore
Margin at 26.5% vs 19.2%
PFC Q1 Earnings (Standalone, YoY)
Net profit up 23.6% at Rs 3,718 crore vs Rs 3,007 crore
Total income up 17.5% at Rs 11,916 crore vs Rs 10,142 crore
Raymond Q1 Earnings (Consolidated, YoY)
Revenue up 98.3% at Rs 938 crore vs Rs 473 crore
EBITDA at Rs 102 crore vs Rs 46 crore
Margin at 10.9% vs 9.7%
Profit from continuing operations up 26.7% at Rs 57 crore
Profit from demerger of lifestyle business at Rs 7,280 crore
IPCA Labs Diulcus Gets CDSCO Approval
Diabetic foot ulcer drug Diulcus gets CDSCO approval for Indian markets
Source: Exchange Filing
Imagicaa World Q1FY25 Results
Revenue up 80.04% at Rs 180.62 crore vs Rs 100.32 crore
Ebitda up 114.26% at Rs 107.07 crore vs Rs 49.97 crore
Margin at 59.27% vs 49.81% up 946 bps
Net profit down 88.77% at Rs 66.13 crore vs Rs 589.14 crore
Exceptional gain of Rs 564.4 crore in Q1FY24
European Indices At Open
Vedanta Q1FY25 Results (Cons, YoY)
Revenue up 6.02% at Rs 35764 crore vs Rs 33733 crore
Ebitda up 55.68% at Rs 9995 crore vs Rs 6420 crore
Margin at 27.94% vs 19.03% up 891 bps
Net profit up 54.02% at Rs 5095 crore vs Rs 3308 crore
Higher profit due to tax write back of Rs 735 crore in Q1FY25
TVS Motor Falls After Q1 Results
Q1 Earnings Standalone YoY
Net profit up 23.3% at Rs 577 crore vs Rs 468 crore
Revenue up 16% at Rs 8,376 crore vs Rs 7,218 crore
EBITDA up 25.7% at Rs 960 crore vs Rs 764 crore
Margin at 11.5% vs 10.6%
Inox Wind Gets Orders From Integrum Energy
Gets order from Integrum Energy for 201 MW equipment supply
Source: Exchange filing
Government Appoints SP Mohanty As UCO Bank Director
Govt appoints SP Mohanty as director on board in place of Rajesh Kumar with immediate effect until further notice
Source: Exchange filing
Shree Cement Q1 Earnings (Consolidated, YoY)
Net profit down 51.4% at Rs 278 crore vs Rs 572 crore
Revenue up 1.7% at Rs 5,124 crore vs Rs 5,036 crore
EBITDA down 1.9% at Rs 927 crore vs Rs 945 crore
Margin at 18.1% vs 18.8%
Bajaj Electricals Q1 Earnings (Consolidated, YoY)
Net profit down 24.3% at Rs 28 crore vs Rs 37 crore
Revenue up 3.8% at Rs 1,155 crore vs Rs 1,112 crore
EBITDA down 2.1% at Rs 75 crore vs Rs 77 crore
Margin at 6.5% vs 6.9%
Graphite India Q1 Results (Consolidated, YoY)
Revenue down 2.6% at Rs 728 crore vs Rs 747 crore
Net profit at Rs 236 crore vs loss of Rs 30 crore
EBITDA at Rs 113 crore vs EBITDA loss of Rs 91 crore
Margin at 15.5%
Symphony Q1 Earnings (Consolidated, YoY)
Net profit at Rs 88 crore vs Rs 24 crore
Margin at 20.9% vs 8.6%
EBITDA at Rs 111 crore vs Rs 26 crore
Revenue up 75.8% at Rs 531 crore vs Rs 302 crore
NCC Q1 Earnings (Consolidated, YoY)
Net profit up 20.8% at Rs 223 crore vs Rs 184 crore
Revenue up 26.2% at Rs 5,528 crore vs Rs 4,380 crore
EBITDA up 16.8% at Rs 478 crore vs Rs 409 crore
Margin at 8.6% vs 9.3%
Rupee Weakens To Record Low of 83.95 Against US Dollar
Rupee weakened 11 paise to a record low of 83.95 against the US dollar.
It closed at 83.84 on Monday.
Source: Bloomberg
Nuvama Wealth Arm Starts Operations In Dubai
Private banking arm of Nuvama group starts operations in Dubai International Financial Centre
Source: Exchange Filing
3M India Q1 Earnings (Consolidated, YoY)
Net profit up 21.6% at Rs 157 crore vs Rs 129 crore
Revenue down 0.3% at Rs 1,047 crore vs Rs 1,050 crore
EBITDA up 18.8% at Rs 205 crore vs Rs 173 crore
Margin at 19.6% vs 16.5%
Nazara Tech Arm Acquires DeltiasGaming.Com
Arm acquires US-based DeltiasGaming.Com for Rs 7.5 crore
Source: Exchange Filing
Nifty, Sensex Gain Over 1% As Global Risk-Off Mood Abates: Midday Market Update
India's benchmark equity indices gained over 1% on Tuesday, after a decline of 3% in the previous session, as global risk-off sentiments abated after the Monday rout wiped out nearly Rs 5.5 lakh crore in Nifty 50 companies.
The NSE Nifty 50 gained 0.71% to trade at 24,2226.60, and the BSE Sensex rose 0.69% to trade at 79,303 as of 11:57 a.m. Intraday, Nifty rose as much as 1.36%, and Sensex gained 1.39% during the early trade.
"The first leg of such a recovery move (in Nifty) should aim for 24,389, where a pause is likely, but a second leg of the recovery move could also be expected, which, however, needs a reclaiming of 24,540–24,570 for sustenance," said Anand James, chief market strategist of Geojit Financial Services.
"Domestic liquidity flows can facilitate a recovery in the markets. It appears that the US recession fears are a bit premature and overdone. Investors need not panic. Quality largecaps can be slowly accumulated," said VK Vijayakumar, chief investment strategist of Geojit Financial Services.
The rupee continues to depreciate against the dollar and touch new lows. The Indian unit weakened to a fresh low of 83.90 at 11:14 a.m.
Shares of Reliance Industries Ltd., Larsen and Tourbo Ltd., Tata Consultancy Services Ltd., Infosys Ltd. and Hindustan Unilever Ltd. contributed to gains in the Nifty.
While those of Bharti Airtel Ltd., ICICI Bank Ltd., SBI Life Insurance Company Ltd. and HDFC Life Insurance Company Ltd. weighed on the index.
On NSE, 11 out of 12 sectors advanced. Nifty Finance was the sole index in the red, while Nifty Realty was the top performer.
Broader markets outperformed the benchmark with the BSE Smallcap and BSE Midcap rising 1.20% and 1.34%, respectively, as of 11:44 a.m.
On BSE, all 20 sectors advanced. BSE Services was the top performer, and the BSE Financial saw the least gains.
Market breadth was skewed in the favour of buyers. Around 2,605 stocks advanced, 1,122 stocks declined, and 141 stocks remained unchanged on BSE.
Samvardhana Motherson Jumps On Reports Of Joining Apple Supply Chain
Shares of auto component maker Samvardhana Motherson International Ltd. gained as much as 5.83% on Monday after media reported that the company was joining Apple's supply chain network.
Savita Oil Technologies Approves Buyback
Approves buyback of 5.4 lakh shares at Rs 675/share
Source: Exchange Filing
Tata Elxsi In Pact With Skanray
In pact with Skanray to advance surgical imaging and healthcare innovation
Source: Exchange Filing
RattanIndia Shares Gain After Unit Announces Opening Of New Motor Dealership
Shares of RattanIndia Enterprises Ltd. rose on Tuesday after its unit Revolt Intellicorp Pvt. announced the opening of Revolt Motors' new dealership in Najafgarh in New Delhi.
This latest expansion falls in line with Revolt Motors' commitment to enhance customer accessibility and elevate the electric bike experience across the national capital, an exchange filing said.
BLS International Shares Soar Over 8% As Q1 Profit Surge
Shares of BLS International Services Ltd. surged over 8% on Tuesday after it reported a 70% surge in its net profit for the first quarter if the current financial year.
The tour, travel-related services company reported a net profit of Rs 121 crore for the quarter ended June, compared to Rs 71 crore in the same quarter of the previous fiscal year, according to its stock exchange notification.
Akums Drugs & Pharma Lists At 6.77% Premium On NSE
Lists at Rs 725 on NSE vs issue price of Rs 679
Lists at a premium of 6.77% on NSE
Lists at Rs 725 on BSE vs issue price of Rs 679
Lists at a premium of 6.77% on BSE
Deepak Nitrite Rises After Q1 Results
Shares of Deepak Nitrite Ltd. rose over 4% on Tuesday after its net profit rose for the first quarter of the current financial year.
Its consolidated net profit rose 35% on the year to Rs 203 crore in April–June, compared to Rs 105 crore, Deepak Nitrite said in an exchange filing.
Marico Falls Amid Bangladesh Crisis
Shares of Marico Ltd. dropped over 4% on Tuesday amid the crisis in Bangladesh, a key market for the consumer goods company, which contributes 11% to its consolidated business.
Brigade Enterprises Jumps The Most In Two Months After Q1 Results, New Office Space In Bangalore
Shares of Brigade Enterprises jumped nearly 11%, the most in two months, after the company reported a 268% year-on-year jump in its net profit of the quarter ended June.
Tata Motors Rises Over 2% After Falling In Four Sessions
Shares of Tata Motors snapped their four-session losing to streak and gained more than 2% today. On a year-to date basis, the stock has risen 33% and it has gained 73% in the last 12 months.
V-Mart Hits Over Two-Year High After Results
Shares of V- Mart Retail Ltd. rose to 14% during the initial trade after posting a net profit as compared to a loss incurred in the same quarter in the previous financial year.
Airtel Jumps 2% On Better Than Expected Results
Shares of Bharti Airtel Ltd. rose nearly 2% on Monday after the company reported higher than expected net profit for April-June. Its consolidated net profit rose 128% sequentially to Rs 4,717.50 crore, against Rs 3,661.4 crore estimate by a Bloomberg survey.
The earnings beat was on the back of one-time interest waiver on various license fees.
Nifty, Sensex Open Over 1% Higher Tracking Asian Peers
Benchmark equity indices opened over 1% higher tracking their Asian peers after Yen depreciated against the US dollar after five sessions of appreciation.
Market players now look forward to the outcome of Japan MoF, BoJ, FSA's 3-way meeting from 3:00 pm Japan Standard Time (11:30 am IST). As of 9:20 a.m., both the Nikkei and Topx traded over 9% up.
At pre-open, the NSE Nifty 50 was 0.56% higher at 24,189.85, and the BSE Sensex was 0.28% higher at 78,981.97.
"NIFTY-50 has closed at 5 weeks low, near to the budget days low and on the downside the breakdown below 23,800 will accelerate the second round of sell off in individual sectors and stocks, " said Vikas Jain, head of research at Reliance Securities. "On the higher side now 24,560 will act as strong resistance which was being held as support for the past few weeks."
Shares of Reliance Industries Ltd., Larsen & Toubro Ltd., HDFC Bank Ltd., Tata Motors Ltd., and Infosys Ltd. contributed the most to Nifty gains.
While those of Apollo Hospitals Enterprises Ltd., SBI Life Insurance Co. Ltd., Nestle India Ltd., and Cipla Ltd weighed on the index.
All sectoral indices opened higher with Nifty Realty leading.
Market breadth was skewed in the favour of buyers. As many as 2,546 stocks rose, 451 declined and 93 remained unchanged on the BSE.
Broader indices outperformed. BSE Midcap was 1.86% higher and BSE Smallcap rose 2.14%.
All 20 sectoral indices on the BSE rose with BSE Industrials leading.
Nifty Gains Over 100 Points, Sensex Up Over 200 Points At Pre-Open
At pre-open, the NSE Nifty 50 was 0.56% higher at 24,189.85, and the BSE Sensex was 0.28% higher at 78,981.97.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.87%.
It closed at 6.86% on Monday.
Source: Bloomberg
Rupee Opens At Record Low Against US Dollar
Rupee weakened 2 paise to open at a record low of 83.86 against the US dollar.
It closed at 83.84 on Monday.
Source: Bloomberg
Goldman Sachs on Bharti Airtel
Maintains Buy, target of Rs 990, downside of 32%
Revenue/ Ebitda in line
18th consecutive quarter of double digit growth
Growth in recent quarters largely led by organic initiatives (no tariff hike)
Given tariff hike, see sharp growth acceleration
India business expected to sustain 20% Ebitda
FCF to improve with further decline in capex and higher tariffs
Expect Bharti to resume shareholder payout in next 12 months
Patel Engineering & JV Partner Gets Irrigation Project
Co & JV partner get irrigation project worth Rs 318 crore from Maharashtra Govt
Co's share in Maharashtra irrigation project stands at Rs 111 crore
Source: Exchange Filing
BoJ, MoF, FSA To Meet At 11:30 A.M.
Japan MoF, BoJ, FSA to hold 3-way meeting from 3:00 pm Japan Standard Time (11:30 am IST)
Yen weakens slightly after news of BoJ, MoF, FSA meeting
Source: Bloomberg
JP Morgan On Bharti Hexacom
Remains overweight, target Rs 1280, upside 15.2%
Revenue in line, ahead on Ebitda, miss on Profits
Drop in capex is positive
Net adds moderated, in line with parent Bharti Airtel and Jio
Numbers are less important than commentary on consumer behaviour to tariff hikes
Hexacom trades at 5% discount to Airtel, offers better value
Brokerages On Bharti Airtel
Citi Research
Maintains buy, target Rs1,750, upside: 19.1%
India performance in line
Consolidated performance below estimates because of African currency devaluation
India capex showed signs of moderation, consistent with past mgmt. commentary
This drove improvement in FCF generation along with deleveraging
This has prompted Bharti to defer calling for the balance rights issue amount (75% of Rs210bn)
JP Morgan
Maintain overweight, target price at Rs 1500, upside: 2.1%
Missed on net additions
Surprised positively on India capes stability and Ebitda
Lower capex accelerated India FCF to rise
Revenue growth strong in Homes, weak in Business and DTH
Announced deferment of calling partly paid up shares amid strong FCF
Moderating capex and deleveraging may lead to higher dividend
Jefferies On Bharti Hexacom
Maintains 'hold', target revised to Rs 1260 from Rs 1230, upside 10%
Revenue, Ebitda in line, profits miss due to higher depreciation and amortization
Growth outlook is string but high valuations limit upside
Expect 16% Revenue CAGR in FY24-FY27
Expect 20% Ebitda CAGR in FY24-FY27
Emkay On JK Tyres
Retains 'Buy' with target Rs 700, Upside 69%
Posted 7% beat on EBITDA in Q1;Revenue down 2% due to OEM down 11%
Healthy profitability improvement led by subsidiaries
Co guided to improved demand across operations from H2
Full-year consol revenue growth seen at mid-to high single digit
Tyre industry remains in a sweet spot amid multiple tailwinds
Believe Co is still undervalued vs. peers & trades at 9x FY26E PER vs peer average of ~13x
Rising profit pool share & ongoing balance-sheet and return-ratio convergence toward peers
Trim FY25/26E EPS by 5/4% due to revenue miss in Q1, RM pressure
Bernstein India Strategy
Talks of an imminent recession have gained traction
Unlikely that macroeconomic distress in US becomes a global event in 2025
Major currency impact of a US recession is unlikely
US event is unlikely to disrupt the Indian cycle even on margins or current account
Fundamentals of the economy don’t change even if US were to enter recession
The challenge India sees is internal rather than external
Continue to hold a neutral stance on markets for now
Underweight SMIDs and 23,500 as our year end Nifty target
Will seek bottom-up opportunities through our India and SMID portfolio
Top 8 US Tech Stocks Lost $789 Billion Market Cap In 3 Sessions
Market cap losers from 1st of august to 5th of august:
Nvidia is the biggest loser, loses $216 billion in market cap
Followed by Apple, loses $166 billion in market cap
Microsoft loses $163 billion in market cap
Alphabet loses $143 billion in market cap
Meta loses $55 billion in market cap
Oracle loses $27 billion in market cap
Salesforce loses $14 billion in market cap
IBM loses $6 billion in market cap
Angel One July Update
July average client funding book up 216.4% YoY at Rs 3,732 crore
July client base at 64.8% YoY at 2.58 crore
July Gross Client Acquisition up 85.7% YoY at 11.4 lakh
Source: Exchange Filing
RITES Gets Notice From Haryana Tax Authority
Gets notice from Haryana Tax Authority for tax demand worth Rs 155 crore including interest & penalty
Source: Exchange Filing
RITES Signs MoU With HUDCO
Signs MoU with HUDCO for consultancy projects or services in the infrastructure space
RITES to also provide consultancy to projects being financed by HUDCO
Source: Exchange Filing
Brokerages On InterGlobe Aviation
Citi Maintains 'Buy' On Indigo
Target price Rs 5,200
IndiGo Stretch, would be initially launched on 12 metro-to-metro routes
Loyalty Program called IndiGo BluChip, to offer a non-expiring points program
Significant revamp of digital offering - website & app
Expansion target remains as per previous guidance- 1 aircraft per week for next 10 years
Deliveries of the wide-body A350-900 aircraft will start in 2027
Company could attract incremental market share
Valuation based on 2.6xSep’25E EV/Sales, 10% premium to Indigo's 5yr avg multiple
Emkay
Target price Rs 5,300, implying 25% upside
Unveiled its business-class offering (Indigo Stretch)
Plan:
Mumbai Delhi route
Timeline: Mid November
Introductory price: Rs 18,000
New premium offerings include:
New destinations and
Introduction of A321 XLRs/A350s from CY25/CY27
Support to yields over the medium-term, led by premiumization
Retain our earnings estimates
Value at 20x Sep-26E target P/E
Delhi Metro Files Plea Against Reliance Infra Arm
Delhi Metro Rail Corp files plea against Delhi Airport Metro Express, whole-time Director, others
Contempt petition filed against DAMEPL for disobedience of directions passed in April 10 judgement
April 10 judgement refers to refund of amounts deposited by DMRC in escrow account
Source: Exchange Filing
Global Cues
U.S. Dollar Index at 102.75
U.S. 10-year bond yield at 3.84%
Brent crude up 1.32% at $77.31 per barrel
Nymex crude up 1.69% at $74.17 per barrel
GIFT Nifty up 0.68% at 24,286.50 as of 7:51 a.m.
Bitcoin was up 2.8% at $55,901.96
F&O Cues
Nifty August futures down by 2.5% to 24,102.95 at a premium of 58 points.
Nifty August futures open interest down by 3.63%.
Nifty Bank August futures down by 2.49% to 50,215 at a premium of 123 points.
Nifty Bank August futures open interest up by 13.52%.
Nifty Options August 8 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000.
Bank Nifty Options August 7 Expiry: Maximum Call Open Interest at 52,000 and Maximum Put open interest at 50,000.
Securities in ban period: Aditya Birla Capital, Birlasoft, Chambal Fertilizers, GNFC, Granules, Hindustan copper, India Cements, India Mart, and RBL Bank.
Trading Tweaks
Ex/record Dividend: Grasim Industries, IPCA Laboratories, Usha Martin, TCI Express, LT Foods, West Coast Paper Mills, TD Power Systems.
Ex/record AGM: Grasim Industries, IPCA Laboratories, Usha Martin, TCI Express, West Coast Paper Mills, VA Tech Wabag, Suven Pharmaceuticals, EID Parry India, TD Power Systems.
Moved in short-term Framework: Neuland Laboratories, PCBL, Selan Exploration Technology, TCPL Packaging.
Moved out short-term Framework: Navkar Corporation.
Pledge Share Details
Inox Green Energy Services: Promoter Inox Wind Limited released a pledge for 45 lakh shares on July 31.
Apollo Hospitals Enterprises: Promoter Suneeta Reddy revoked a pledge for 6.35 lakh shares on August 2.
Bulk Deals
Eraaya Lifespaces: Share India Securities sold 1.06 lakh shares (0.7%) at Rs 797.89 apiece.
Aavas Financiers: Smallcap World Fund Inc. bought 5.01 lakh shares (0.63%) at Rs 1630 apiece.
Huhtamaki India: Plutus Wealth Management LLP bought 5 lakh shares (0.66%) at Rs 416.49 apiece.
IPO Offering
Brainbees Solutions: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 440 to Rs 465 per share. The Rs 4193.73-crore IPO is a combination of a fresh issue of Rs 1,666 crore and the rest of the offer for sale. The company has raised Rs 1,885 crore from anchor investors.
Unicommerce eSolutions: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 102 to Rs 108 per share. The Rs 276.57-crore IPO is entirely an offer for sale. The company has raised Rs 124 crore from anchor investors.
Ceigall India: The public issue was subscribed to 13.78 times on day 3. The bids were led by qualified institutional investors (31.5 times), non-institutional investors (14.42 times), retail investors (3.77 times) and reserved for employees (11.55 times).
Ola Electric Mobility: The public issue was subscribed to 1.06 times on day 2. The bids were led by qualified institutional investors (0.4 times) retail investors (2.87 times) and reserved for employees (8.98 times) and non-institutional investors (1.11 times).
Listing Day
Akums Drugs and Pharmaceuticals: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 679 apiece. The Rs 1856.74-crore IPO was subscribed to 63.56 times on its third and final day. Bids were led by institutional investors (90.09 times), retail investors (20.30 times), non-institutional investors (42.21 times), and employees reserved (4.27 times).
Stocks To Watch On Aug 6
Emami, Marico, Dabur, and Pidilite Industries: Indian consumer goods companies operating in Bangladesh will be in focus after the recent political turmoil following the ouster of PM Sheikh Hasina.
Adani Energy Solutions: The company raised Rs 8,373 crore through QIP. The QIP saw six times the demand of the base deal size. The QIP proceeds are to be used for investment in transmission assets, smart metering businesses, and debt repayment.
Biocon: The company received an Establishment Inspection Report with Voluntary Action Indicated from the US FDA for the Visakhapatnam API facility.
Aurobindo Pharma: The US FDA inspected the arm's Bhiwadi manufacturing facility and closed with an 'Official Action Indicated' classification.
Aster DM Healthcare: Nitish Shetty resigned as CEO effective today.
Power Mech Projects: The company received an order worth Rs 111 crore for a captive power plant in Nigeria.
Earnings in Focus On Monday
3M India, Bajaj Electricals, Bata India, Blue Jet Healthcare, Blue Star, BOSCH, Chambal Fertilizers and Chemicals, Cummins India, EIH Hotels, Fortis Healthcare, Fusion MicroFinance, Gland Pharma, Graphite India, Gujarat Gas, Gulf Oil Lubricants India, IIFL Finance, Indigo Paints, J. Kumar Infraprojects, Linde India, Lupin, NCC, Power Finance Corporation of India, PI Industries, PB Fintech, Raymond, Shree Cement, Solar Industries, Symphony, Tata Power, TVS Motor, Vedanta, and VIP Industries.
Earnings Post Market Hours
Bharti Airtel Q1 FY25 (Consolidated, QoQ)
Revenue up 2.4% at Rs 38,506.40 crore versus Rs 37,599.10 crore (Bloomberg estimate: Rs 39,096.4 crore).
Ebitda up 1.8% at Rs 19,708 crore versus Rs 19,365 crore (Bloomberg estimate: Rs 20,591 crore).
Ebitda margin at 51.2% versus 51.5% (Bloomberg estimate: 52.7%).
Net profit up 128% at Rs 4,717.50 crore versus Rs 2,068.20 crore (Bloomberg estimate: Rs 3,661.4 crore).
Mobile services ARPU up 1% at Rs 211 vs Rs 209.
Profit above estimates on account of one-time interest waiver on variable license fees worth Rs 735 crore in current quarter.
Tata Chemicals Q1 FY25 (Consolidated, YoY)
Revenue down 10.18% at Rs 3,789 crore versus Rs 4,218 crore (Bloomberg estimate Rs 3,761 crore).
Ebitda down 44.96% at Rs 574 crore versus Rs 1,043 crore (Bloomberg estimate Rs 582 crore).
Ebitda margin down 957 bps at 15.14% versus 24.72% (Bloomberg estimate 15.5%).
Net profit down 67.63% at Rs 190 crore versus Rs 587 crore (Bloomberg estimate Rs 192 crore).
ONGC Q1 FY25 (Cons, QoQ)
Revenue down 0.13% at Rs 1,66,567.75 crore versus Rs 1,66,770.63 crore.
Ebitda down 6.2% at Rs 21,785.27 crore versus Rs 23,225.21 crore.
Margin at 13.07% versus 13.92% down 84 bps.
Net profit down 11.19% at Rs 10,235.64 crore versus Rs 11,526.53 crore.
V-MART Q1 FY25 (YoY)
Revenue up 16% at Rs 786 crore versus Rs 679 crore (Bloomberg estimate Rs 786 crore.
Ebitda up 87% at Rs 99 crore versus Rs 53 crore (Bloomberg estimate Rs 74.1 crore).
Margin at 12.6% versus 7.8% (Bloomberg estimate 9.4%).
Net profit at Rs 12 crore versus loss of Rs 22 crore (Bloomberg estimate net loss of Rs 15.5 crore).
Bharti Hexacom Q1 FY25 (QoQ)
Revenue up 2% at Rs 1,911 crore versus Rs 1,868 crore.
Ebitda down 0.2% at Rs 876 crore versus Rs 878 crore.
Ebitda margin at 45.8% versus 47%.
Net profit up 129% at Rs 511 crore versus Rs 223 crore.
Deepak Nitrite Q1 FY25 (Consolidated, YoY)
Revenue up 23% at Rs 2,167 crore versus Rs 1,768 crore (Bloomberg estimate Rs 2,129 crore).
Ebitda up 47% at Rs 309 crore versus Rs 210 crore (Bloomberg estimate Rs 314 crore).
Ebitda margin at 14.3% versus 11.9% (Bloomberg estimate 14.7%).
Net profit up 35% at Rs 203 crore versus Rs 150 crore (Bloomberg estimate Rs 210.5 crore).
Sandur Manganese (Consolidated, YoY)
Revenue up 65.8% at Rs 602 crore versus Rs 363 crore.
Ebitda up at Rs 191 crore versus Rs 59 crore.
Margin at 31.7% versus 16.2%.
Net profit up at Rs 144 crore versus Rs 40 crore.
Brigade Enterprises Q1 FY25 (Cons, YoY)
Revenue up 64.8% at Rs 1,078 crore versus Rs 654 crore (Bloomberg estimate Rs 1,031 crore).
Ebitda up 67.3% at Rs 293 crore versus Rs 175 crore (Bloomberg estimate Rs 273 crore).
Margin at 27.2% versus 26.8% (Bloomberg estimate 26.5%).
Net profit up at Rs 80.5 crore versus Rs 21.9 crore (Bloomberg estimate Rs 97 crore).
BEML Q1 FY25 (Consolidated, YoY)
Revenue up 9.9% at Rs 634 crore versus Rs 577 crore (Bloomberg estimate Rs 618 crore).
Ebitda loss of Rs 50 crore versus loss of Rs 50 crore (Bloomberg estimate Ebitda loss of Rs 529 crore).
Net loss of Rs 70 crore versus loss of Rs 75 crore (Bloomberg estimate Rs 750 crore).
Schneider Electric Q1 FY25 (Consolidated, YoY)
Revenue up 19.8% at Rs 593 crore versus Rs 495 crore.
Ebitda up 66.8% at Rs 81.9 crore versus Rs 49.1 crore.
Margin up at 13.8% versus 9.9%.
Net profit up 37.1% at Rs 48 crore versus Rs 35 crore.
GSFC Q1 FY25 (Consolidated, YoY)
Revenue up 4.8% at Rs 2,163 crore versus Rs 2,063 crore.
Ebitda down 22.5% at Rs 110 crore versus Rs 142 crore.
Margin at 5.1% versus 6.9%.
Net profit down 22.3% at Rs 87 crore versus Rs 112 crore.
Triveni Turbine Q1 FY25 (Consolidated, YoY)
Revenue up 23.1% at Rs 463 crore versus Rs 376 crore (Bloomberg estimate Rs 445 crore).
Ebitda up 33.8% at Rs 95 crore versus Rs 71 crore (Bloomberg estimate Rs 86 crore).
Margin at 20.5% versus 18.9% (Bloomberg estimate 19.3%).
Net profit up 31.1% at Rs 80 crore versus Rs 61 crore (Bloomberg estimate Rs 71 crore).
Motherson Sumi Q1 FY25 (Consolidated, YoY)
Revenue up 16.7% at Rs 2,185 crore versus Rs 1,872 crore (Bloomberg estimate Rs 2,184 crore).
EBITDA up 14.9% at Rs 239 crore versus Rs 208 crore (Bloomberg estimate Rs 259 crore).
Margin at 10.9% versus 11.1% (Bloomberg estimate 11.8%).
Net profit up 21.1% at Rs 149 crore versus Rs 123 crore (Bloomberg estimate Rs 165 crore).
BLS International (Consolidated, YoY)
Revenue up 29% at Rs 493 crore versus Rs 383 crore.
Ebitda up 69% at Rs 134 crore versus Rs 79 crore.
Ebitda margin at 27.2% versus 20.7%.
Net profit up 70% at Rs 121 crore versus Rs 71 crore.
Board approves raising up to Rs 2,000 crore via QIP or other means.
GIFT Nifty Trades Near 24,300
The August futures contract of the GIFT Nifty was trading 0.81% or 155.50 points higher at 24,277.50 as of 07:14 a.m.
Japan's benchmark bounced back from historic loss of Monday, while the currency lost some ground against the greenback after US futures rose.
At 7:30 a.m., the Nikkei 225 was 8.7% higher at 3,4105.15 on Tuesday after it slumped 12.40% the previous day. The Kospi and S&P ASX 200 were trading 3% and 0.29% higher, respectively.
Markets from New York to London and Tokyo were battered. Nearly 90% of the S&P 500 stocks were affected. The tech sector was hit hardest.
The S&P 500 and Nasdaq Composite fell 3% and 2.43%, respectively, as of Monday. The Dow Jones Industrial Average was down 2.60%.
Brent crude was trading 0.52% higher at $77.21 a barrel as of 7:37 a.m,. Gold was flat at $2,415.8 an ounce.
The Indian benchmark indices ended at over a month low on Monday as Reliance Industries Ltd. and HDFC Bank Ltd. declined. The NSE Nifty 50 ended 662.10 points or 2.68%, lower at 24,055.60, the lowest since June 28. The S&P BSE Sensex ended 2,222.55 points or 2.74%, down at 78,759.40, the lowest level since June 26.
Overseas investors sold the highest amount of stocks since June 4, 2024, when they offloaded Rs 12,436 crore worth of equities on the day of the Lok Sabha election results.
Foreign portfolio investors offloaded equities worth Rs 10,073.7 crore for a second consecutive session, while domestic investors have bought the highest amount of stocks so far this year. They remained net buyers for the second consecutive session and mopped up equities worth Rs 9,155.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened 9 paise to end a record closing low of 83.84 against the US dollar.
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