KEY HIGHLIGHTS
Rupee Ends Flat Against US Dollar
Rupee closed flat at 83.95 against the US dollar.
The currency hit a record low of 83.98 during the session.
It closed at 83.96 on Tuesday.
Source: Bloomberg
Market At Close
The NSE Nifty 50 Index and BSE Sensex reversed a three-day declining streak.
The benchmarks also logged the best intraday gains in eight session.
The NSE Nifty Pharma scaled a fresh high of 22,008.00.
HDFC Bank Ltd., Infosys were the top leader in the Nifty 50 index
Metal, Oil and Gas sectors were top winners, while bank sector emerged as the top loser
Broader markets outperformed with the NSE Nifty Midcap 150 and Nifty Smallcap 250 ending 2.20% and 2.39% higher, respectively.
Nifty, Sensex Rebound After Three-Day Slump As HDFC Bank Lead: Market Wrap
Benchmarks snapped a three-day losing streak on Wednesday, and post the best session in eight days as heavyweight HDFC Bank Ltd., Infosys Ltd. rose.
The NSE Nifty 50 ended 322.70 points or 1.34% higher at 24,315.25, and the BSE Sensex ended 874.94 points or 1.11% higher at 79,468.01.
Intraday, the Nifty 50 rose as much as 1.44% to a high of 24,337.70, and the BSE Sensex rose 1.335 to a high of 79,565.40.
After two days of correction, the Nifty 50 has formed a green candle but its long-legged DOJI pattern indicates indecisiveness still. We believe that as long as the Index holds its support level of 23,960, there is a chance to soar higher to 24,550 followed by 24,700, said Aditya Gaggar, director, Progressive Shares.
HDFC Bank Ltd., Infosys Ltd., Oil and Natural Gas Corp Ltd., Larsen & Toubro Ltd., and Coal India Ltd. added to the index.
IndusInd Bank Ltd., Bharti Airtel Ltd., Hindustan Unilever Ltd., Tech Mahindra Ltd., and Eicher Motor Ltd. limited losses in the index.
All sectors ended in green with the NSE Nifty Oil & Gas emerging as the top gainer.
Broader markets outperformed. BSE Midcap ended 2.6% higher and BSE Smallcap closed 2.4% up.
All 20 sectoral indices on the BSE rose. BSE Oil & Gas was the top gainer.
Market breadth was skewed in the favour of buyers. As many as 2,988 stocks rose, 945 declined, and 98 remained unchanged on the BSE.
Godawari Power Q1 Earnings Highlights (Consolidated, YoY)
Net profit rose 24.2% at Rs 287 crore vs Rs 231 crore
Revenue rose 1.3% at Rs 1,342 crore vs Rs 1,325 crore
Ebitda rose 33% at Rs 407 crore vs Rs 306 crore
Margin at 30.3% vs 23%
Aditya Birla Fashion & Retails Q1 Earnings Highlights (Consolidated, YoY)
Revenue rose 7.2% at Rs 3,428 crore vs Rs 3,196 crore
Ebitda rose 22.83% at Rs 359 crore vs Rs 292 crore
Margin at 10.5% vs 9.1%
Net loss of Rs 215 crore vs loss of Rs 162 crore
NLC India Q1 Earnings Highlights (Consolidated, YoY)
Net profit rose 37% at Rs 567 crore vs Rs 414 crore
Revenue rose 1.8% at Rs 3,376 crore vs Rs 3,316 crore
Ebitda fell 9.4% at Rs 1,081 crore vs Rs 1,193 crore
Margin at 32% vs 36%
Nifty Pharma Rises To Record High As Sun Pharma, Lupin Rise
The NSE Nifty Pharma index rose as much as 2.07% to 22,008.00, the highest level since its incorporation. It was trading 1.97% higher at 21,989.65 as of 2:53 p.m., as compared to 1.09% advance in the NSE Nifty 50 index.
Pidilite Industries Q1 Earnings Highlights (Consolidated, YoY)
Revenue rose 3.7% at Rs 3,395 crore vs Rs 3,275 crore
Ebitda rose 14.96% at Rs 813 crore vs Rs 707 crore
Margin at 23.9% vs 21.6%
Net profit rose 20.6% at Rs 571 crore vs Rs 474 crore
Varroc Engineering Q1 Earnings (Consol, YoY)
Net profit flat at Rs 34 crore
Revenue up 5.2% at Rs 1,899 crore vs Rs 1,806 crore
EBITDA down 4.3% at Rs 172 crore vs Rs 180 crore
Margin at 9.1% vs 10%
Welspun Living Arm Starts Production At Ohio Unit
Arm commences commercial production at pillow manufacturing unit in Ohio
Source: Exchange filing
Venky's Locked In 20% Upper Circuit As Net Profit Up Nearly 300% YoY
Venky's Q1FY25 Earnings
Revenue at Rs 976 crore vs Rs 808 crore, up 20.79%
Ebitda at Rs 270.9 crore vs loss of Rs 137.5 crore
Margin at 27.75%
Net profit at Rs 75 crore vs Rs 19 crore, up 294.73%
Rupee Weakens To A Fresh Low
Rupee weakens to a fresh low of 83.97 against the US dollar.
Safari Industries Q1 Earnings (Consol, YoY)
Revenue up 5% at Rs 450 crore vs Rs 427 crore
EBITDA down 17% at Rs 66 crore vs Rs 79 crore
EBITDA margin at 14.6% vs 18.6%
Net profit down 11% at Rs 44 crore vs Rs 50 crore
BASF Q1 Earnings (YoY)
Net profit up 95.6% at Rs 221 crore vs Rs 113 crore
Revenue up 17.5% at Rs 3,967 crore vs Rs 3,375 crore
EBITDA up 56.5% at Rs 313 crore vs Rs 200 crore
Margin at 7.9% vs 5.9%
Harsha Engineers Q1 Earnings Highlights (Consolidated, YoY)
Net profit rose 46.7% at Rs 36 crore vs Rs 24.6 crore
Revenue fell 1.4% at Rs 343 crore vs Rs 348 crore
Ebitda rose 31.9% at Rs 55.2 crore vs Rs 41.8 crore
Margin at 16.1% vs 12%
Uno Minda's Board Approves Incorporation Of Subsidiary In Czech Republic
Uno Minda Ltd.'s board approved incorporation of a wholly owned step-down subsidiary in Czech Republic, Europe.
Board approved acquisition of further stake in Minda Onkyo India.
The company's stake in Minda Onkyo India to be 99% post acquisition
Board approves amendment of joint venture pact with Denso Ten Uno Minda India and Uno Minda D-Ten India
The company is to also provide designing & development support to JV co, TNMI & MTNI
Board approves investment worth Rs 62.69 crore in sunroof project
Alert: Minda Onkyo India is a 50:50 JV between co & Japan-based Onkyo Sound Corporation
Source: Exchange filing
Caplin Point Labs Q1 Earnings Highlights (Consolidated, YoY)
Revenue rose 16.1% at Rs 459 crore vs Rs 395 crore
Ebitda rose 20% at Rs 152 crore vs Rs 127 crore
Margin at 33% vs 32%
Net profit rose 19.8% at Rs 125 crore vs Rs 104 crore
Cupid Locked In Upper Circuit For Second Day As Q1 Profit Jumps Nearly Fourfold
Shares of Cupid Ltd. were locked in its upper circuit limit for the second consecutive session on Wednesday after the company's net profit jumped nearly fourfold in the June quarter and its board approved a wholly owned subsidiary in the UAE.
TVS Motor Shares Jump On Q1 Profit Rise, EV Launch
Shares of TVS Motor Co. jumped over 5% on Wednesday after the company reported a 23.3% uptick in net profit in its June quarter earnings for fiscal 2025.
TVS Motor stock rose as much as 5.64% before paring gains to trade 4.56% higher at Rs 2,591.85 apiece, compared to a 1.16% advance in the benchmark Nifty 50 as of 9:30 a.m.
It has risen 93.06% in the last 12 months and 28.06% year-to-date. The relative strength index was at 63.75.
Twenty out of 42 analysts tracking TVS Motor have a 'buy' rating on the stock, 10 recommend a 'hold' and 12 suggest a 'sell', according to Bloomberg data. The average 12-month analysts' price targets implies a potential downside of 7.3%.
AIA Engineering Board Approves Share Buyback Worth Rs 500 Crore
AIA Engineering Ltd.'s board approved buyback of 10 lakh shares at Rs 5,000 per share
Board approve buyback worth Rs 500 crore.
Source: Exchange filing
HAL Offshore Put Seamec's Vessel On Hire For ONGC
Seamec Ltd.'s vessel 'Seamec Diamond' was put on hire for Oil and Natural Gas Corp's contract by HAL Offshore.
Source: Exchange filing
ONGC Logs Best Intraday Gain In Over Two Months
Shares of Oil and Natural Gas Corp. rose as much as 7.69% to Rs 329.65 on Wednesday. It's the highest intraday jump since June 3. The stock was trading 7.15% higher at Rs 328.00 as of 11:56 a.m., as compared to 1.02% advance in the NSE Nifty 50 index.
Cummins India Q1 Concall Highlights
Maintain double digit growth guidance in FY25
Industrial segment growth led by construction, railways, mining
Market shares gains not apparent as of now, demand momentum continues
CBCB IV+ sets contributed to overall 30-40% of sales in the quarter
Gross margins at 5 year high led by higher mix of CBCB IV+ sets
Margins not sustainable in near term with pricing environment
Product pursuant to CPCB norms contributed to 30-40% of sales in Q1
Gross margins at 5 year high led by higher mix of product pursuant to CPCB norms
Allied Blenders & Distillers Appoints Deloitte
Allied Blenders & Distillers Ltd. appointed Deloitte to strengthen Enterprise Risk Management practices.
Source: Exchange filing
Shyam Metalcs & Energy Business Update - July (YoY)
July stainless steel sales volume rose 219% at 5,699 million ton
July carbon steel sales volume rose 4% at 1.3 lakh million ton
July aluminium foil sales volume rose 28% at 1,571 million ton
July sponge iron sales volume rose 53% at 85,447 million ton
July pellet sales volume rose 24% at 1.03 lakh million ton
July speciality alloys sales volume rose 20% at 19,300 million ton
Source: Exchange filing
Tata Power Gain Nearly 2% In Early Trade Following Revenue Growth
Shares of Tata Power Co. Ltd. rose in the initial trading session after posing a 13.7% rise in revenue, beating Bloomberg estimates.
The company's revenue rose 13.7% to Rs 172,294 crore as compared to Rs 15,213 crore for the same period last year. Analysts tacked by Bloomberg estimated the revenue at Rs 16,855 crore.
Godrej Industries Board Approves Fundraise of 3,000 Crore
Godrej Industries Ltd.'s board approved fundraise of Rs 3,000 crore via unsecured non-convertible debenture.
Source: Exchange filing
Fusion Micro Finance Hits 20% Lower Circuit After Loss In June Quarter
Shares of Fusion Micro Finance Ltd. hit a 20% lower circuit on Wednesday after company reported a loss in the quarter ended in June.
Fusion Micro Finance reported Rs 35.6 crore loss versus profit of Rs 120 crore in the corresponding period of the previous financial year, the company said in an exchange filing on Tuesday.
Lupin Jumps To Over Eight-Year High After Q1 Net Profit Doubles
Shares of Lupin Ltd. rose to their highest in eight years on Wednesday after first-quarter profit nearly doubled, beating analysts' estimates.
The company's net profit surged 78% year-on-year to Rs 805.54 crore for the three months ended June 2024, according to an exchange filing. Analysts tracked by Bloomberg estimated a profit of Rs 564 crore.
Vedanta Extends Gains After Net Profit Rises
Shares of Vedanta Ltd. extended gains to the second consecutive session after the company's first-quarter net profit rose, meeting analysts' estimates. This was on the back of lower input commodity prices and a tax write back of Rs 735 crore.
Gland Pharma Drops To Nearly One-Month Low After Profit Miss Estimates
Gland Pharma Ltd. fell to the lowest level in nearly one month on Wednesday after the company reported lower than expected net profit in April-June.
Gland Pharma Ltd. slumped 9.30% to Rs 1,911.05, the lowest level since July 9. It was recovered some losses to trade 3.67% lower at Rs 2,029.55 as of 09:58 a.m, compared to 0.94% advance in the NSE Nifty 50 index.
The scrip gained 42.89% in 12 months, and declined 0.17% on year to date basis. Total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 41.77.
Out of 19 analysts tracking the company, 10 maintain a 'buy' rating, three recommend a 'hold,' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a upside of 2.9%.
Nifty, Sensex Snap Three-Day Fall As Infosys, HDFC Bank Rise
Indian benchmarks reversed a three-day fall on Wednesday morning tracking gains in Infosys Ltd., and HDFC Bank Ltd. Further, benchmarks got support from rise in their Asian peers after the Bank of Japan official said they won't rise rates, given market volatility.
As of 09:18 a.m., the NSE Nifty 50 was 313.65 points or 1.31% higher at 24,306.20, and the BSE Sensex was 962.35 points or 1.22% higher at 79,555.42.
All 50 stocks in the Nifty 50 index rose, and 27 stocks in the Sensex gained out of 30 during open.
The Nifty 50 has closed in an inside range near the bottom end and sustenance above 23,800 levels would again push the markets near to 24,300-24,500 levels., said Vikas Jain, head, research, Reliance Securities. The key supports of the 50-day average and oversold position on multiple time frames could witness pullback in line with the global markets up move. RSI has tested the lower end of the range at 40 levels and could move higher near to the average band over the next few days. Highest call OI is at 24,400 strikes while the downside the highest put OI moved lower to 23,700 for the weekly expiry.
Infosys Ltd., HDFC Bank Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., and Tata Consultancy Services Ltd. added to benchmark Nifty 50's recovery.
On NSE, all 12 sectors gained with the NSE Nifty Media emerging as the top performing sector.
Broader markets rose in line with the benchmark indices. The BSE Midcap and Smallcap indices were trading 1.36% and 0.92% higher, respectively.
Twenty sectors, compiled by BSE, logged gains at early trade, with the BSE Oil & Gas rising the most.
Market breadth was skewed in favour of buyers. Around 2,325 stocks advanced, 511 stocks declined, and 101 stocks remained unchanged on BSE.
Nifty, Sensex Up Over 1% At Pre-Open
At pre-open, the NSE Nifty 50 rose 1.24% or 296.85 points higher at 24,289.40, and the BSE Sensex rose 1.24% or 972.33 points higher at 79,565.40.
L&T Technology Services Sets Up CoC With Altair
L&T Technology Services Ltd. and Altair established digital twin center of excellence to accelerate global innovation.
The center of excellence will cater to customers across mobility, hi-tech and sustainability segments.
Source: Exchange filing
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.89%.
It closed at 6.88% on Tuesday.
Source: Bloomberg
Rupee Strengthens Against US Dollar
Rupee strengthened by 7 paise to open at 83.89 against the US dollar.
It closed at 83.96 on Tuesday.
Source: Bloomberg
Also Read: Rupee Ends Flat Against US Dollar
KVB Cuts MCLR By 10 Basis Points For Some Tenure
Karur Vysya Bank Ltd. cut six-month and one-year MCLR by 10 basis points to 9.90% & 10.00% respectively.
Source: Exchange filing
IPO Update - Saraswati Saree Depot
Sets IPO price band of Rs 152-160 per share
Bid for offer to open on August 12 & close on August 14
Source: Company statement
Nuvama On JTL Industries
Initiating coverage with a Buy, and set the target price Rs 303, which implied 49% upside.
Fastest-growing steel tube manufacturer in India
Enhanced capacity, with volume and margin expansion
Expect Profit to compound at 38% over FY24–27
Value company at 25x Q1FY27E Earnings Per Share
Coforge's North American Client Claims $7.6 Million Indemnification
Coforge Ltd. gets supplementary notice of indemnification from a client in the North America region
Client claims $7.6 million indemnity in-principle settlements
Potential additional claim of $4.3 million for settling demands
Source: Exchange filing
Brokerages On TVS Motors
Citi Research
Maintain 'Sell' with a target price Rs 1,600 vs 1,550 earlier, which implied a downside of 35%.
Results marginally above estimates
Better gross margin was offset by higher SG&A and employee costs
Outlook remains positive on domestic industry demand with 10% volume growth for FY25
New models expected to aid volumes
Cost reduction, pricing and mix should support margins
Competition in EVs is escalating further; could result in adverse pricing environment
Valuations stay elevated; continue to value at 29x FY25 P/E
Nuvama
Retain Buy with a target price Rs 2,870 vs Rs 2,840 earlier, which implied an upside of 16%.
Ebitda growth owing to better gross margin
In subsequent quarters Co should accrue PLI benefits
See strong growth on market share gains in domestic/overseas markets and aggressive EV focus
Factoring in better net pricing and PLI benefits, we are increasing FY25–27E Ebitda by 1–3%.
See company to outpace peers; build in FY24–27E domestic/ export 2W volume CAGR of 7%/12%
Revenue/EPS CAGR shall be 11%/21% over FY24–27E
Emkay Global Research
Emkay Global Research downgraded to ADD from Buy with a target price Rs 2,600 from Rs 2,250, Upside 4%
Amid recent stock price run-up leaving limited upside
Expect Co to continue outperforming the 2W industry
Seeing acceleration in recovery along with improving margins
Company expects domestic 2Ws to clock 10% growth this year led by rural
Expect TVS to sustain improvements in growth categories of premium motorcycles, scooters, exports
Upgrade FY26E EPS by 6% & build-in 14/27% revenue/EPS CAGR in FY24-27E
Raise multiple to 30x P/E FY26 vs 28x
Motilal Oswal On Syrma SGS Technology
Retain Buy with a target price Rs 540, which implied an upside of 26%
High mix of consumer business hurts overall margin
Reported weak operating performance in 1QFY25
EBITDA margins decline 230bp YoY due to an unfavorable business mix
Higher share of low-margin consumer business at 53% in 1QFY25 vs. 39% in 1QFY24
Order book stood at Rs. 4500 crores on June 24 vs. Rs. 4500 crores /Rs. 3500 crores in March 24/Jun’23
Management maintained revenue growth target of 40-45% for FY25,
Management sees EBITDA margins of 7%
Lowered EPS estimate for FY25 by 7%
Global Cues
U.S. Dollar Index at 103.22
U.S. 10-year bond yield at 3.91%
Brent crude down 0.21% at $76.32 per barrel
Nymex crude down 0.33% at $72.96 per barrel
Bitcoin was up 1.13% at $57,213.05
The GIFT Nifty was up 172 points or 0.71% higher at 24,300 as of 08:02 a.m.
Money Market
The Indian rupee closed at a record low on Tuesday as global funds continued to pull out of domestic stocks amid the ongoing unwinding of the yen carry trade and rising fear of recession in the US.
The local currency depreciated 12 paise to end at an all-time low of Rs 83.96, according to Bloomberg data. It had closed at Rs 83.84 against the greenback on Monday. The currency had opened at Rs 83.86 against the dollar.
It fell as low as Rs 84.25 during the overnight session in the NDF market in New York, Bloomberg data showed.
F&O Cues
Nifty August futures down by 0.05% to 24,056 at a premium of 64 points.
Nifty August futures open interest down by 8.32%.
Nifty Bank August futures down by 0.63% to 49,919 at a premium of 171 points.
Nifty Bank August futures open interest up by 3.3%.
Nifty Options August 8 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 22,300.
Bank Nifty Options August 7 Expiry: Maximum Call Open Interest at 52,000 and Maximum Put open interest at 49,000.
Securities in ban period: Aditya Birla Capital, Birlasoft, Chambal Fertilizers, GNFC, Granules, Hindustan copper, India Cements, LIC Housing Finance, Manappuram Finance, RBL Bank.
IPO Offering
Brainbees Solutions: The public issue was subscribed to 0.11 times on day 1. There were no bids from institutional investors, retail investors (0.46 times), employees (1.79 times), or non-institutional investors (0.08 times).
Unicommerce eSolutions: The public issue was subscribed to 2.43 times on day 1. There were no bids led by institutional investors, retail investors (9.98 times), or non-institutional investors (2.26 times).
Ola Electric Mobility: The public issue was subscribed to 4.27 times on day 3. The bids were led by institutional investors (5.31 times), retail investors (3.92 times), reserved for employees (11.99 times), and non-institutional investors (2.4 times).
Block Deals
Zydus Wellness: Quant Mutual Fund bought 17 lakh shares (2.67%) at Rs 2,201.4 apiece, and Threpsi Care LLP sold 17 lakh shares (2.67%) at Rs 2,201.4 apiece.
Akums Drugs and Pharma: Smallcap World Fund bought 25.86 lakh shares (1.64%) at Rs 753.84 apiece.
Trading Tweaks
Ex/record Dividend: Infibeam Avenues, NTPC, Nuvama Wealth Management, Gabriel India, 360 ONE WAM, Bharti Airtel, Minda Corporation, Castrol India, Tourism Finance Corporation of India, Eicher Motors, ESAF Small Finance Bank, Bombay Dyeing & Mfg Company.
Price band change from 10% to 20%: Aditya Birla Sun Life AMC, Allied Digital Services, Cello World, Dynacons Systems & Solutions, Emami Realty, Fertilisers and Chemicals Travancore, FCS Software Solutions, GM Breweries, IFB Industries, Inox Green Energy Services, Johnson Controls, Hitachi Air Conditioning India, Mazagon Dock Shipbuilders, Mirza International, Network18 Media & Investments, Paisalo Digital, One 97 Communications, Rail Vikas Nigam, Sandur Manganese & Iron Ores, Sanghi Industries, Sun Pharma Advanced Research Company.
Price band change from 10% to 5%: Thomas Cook (India).
Price band change from 5% to 10%: Azad Engineering, Cochin Shipyard, Gensol Engineering, Garden Reach Shipbuilders & Engineers, Latent View Analytics, Swan Energy, Urja Global, Welspun Investments and Commercials.
Ex/record AGM: Infibeam Avenues, Gabriel India, Elgi Rubber Company, Tourism Finance Corporation of India, ESAF Small Finance Bank, Bombay Dyeing & Mfg Company.
Moved out short-term Framework: Refex Industries.
Stocks To Watch On Aug. 7
Hindalco Industries: The Central Bureau of Investigation booked the company for alleged corruption in getting environmental clearances for coal mining between 2011 and 2013.
Welspun Living: The company’s Rs 278 crore buyback will open on August 9 and close on August 16.
Tata Power: The company is to acquire a 40% stake in Khorluchhu Hydro Power for Rs 830 crore and company to terminate the Global Depository Shares program.
Cupid: The company will set up a new unit in the UAE to capture market share in the GCC region.
G R Infraprojects: The company emerged as the lowest bidder for the transmission project in Karnataka.
Aurobindo Pharma: The company has US FDA approval for Estradiol vaginal inserts. The product is to be launched in Q2FY25.
Suzlon Energy: The company bought a 76% stake in Renom Energy Services for Rs 660 crore.
Earnings Post Market Hours
Lupin Q1 FY25 (Consolidated, YoY)
Revenue up 16.3% to Rs 5,600 crore versus Rs 4,814 crore (Bloomberg estimate: Rs 5,226 crore).
Ebitda up 50.1% to Rs 1,286 crore versus Rs 856 crore (Bloomberg estimate: Rs 1,055 crore).
Margin at 23% versus 17.8% (Bloomberg estimate: 20.20%).
Net profit up 78% to Rs 805.54 crore versus Rs 453.33 crore (Bloomberg estimate: Rs 564 crore).
Tata Power Q1 FY25 (Consolidated, YoY)
Revenue up 13.7% to Rs 17,294 crore versus Rs 15,213 crore (Bloomberg estimate: Rs 16,855 crore).
Ebitda up 22% to Rs 3,587 crore versus Rs 2,944 crore (Bloomberg estimate: Rs 3,004 crore).
Ebitda margin expanded 20.7% versus 19.3% (Bloomberg estimate: 17.8%).
Net profit up 4% to Rs 1,189 crore versus Rs 1,141 crore (Bloomberg estimate: Rs 957 crore).
Bata India Q1 FY25 (Consolidated, YoY)
Revenue down 1% at Rs 945 crore versus Rs 958 crore (Bloomberg estimate Rs 1,003 crore).
Ebitda down 23% at Rs 185 crore versus Rs 239 crore (Bloomberg estimate Rs 263 crore).
Ebitda margin at 19.6% versus 24.9% (Bloomberg estimate 26.2%).
Net profit up 63% at Rs 174 crore versus Rs 107 crore (Bloomberg estimate Rs 119 crore).
Exceptional gain of Rs 134 crore in current quarter on sale of land asset.
Chambal Fertilisers Q1 FY25 (Consolidated, YoY)
Revenue down 11.7% at Rs 4,933 crore versus Rs 5,589 crore (Bloomberg estimate Rs 4,495 crore).
Ebitda up 18.6% at Rs 751 crore versus Rs 633 crore (Bloomberg estimate Rs 589 crore).
Margin at 15.2% versus 11.3% (Bloomberg estimate 13.1%).
Net profit up 32.1% at Rs 448 crore versus Rs 339 crore (Bloomberg estimate Rs 366 crore).
Gujarat Gas Q1 Y25 (Consolidated, QoQ)
Revenue up 7% at Rs 4,450 crore versus Rs 4,134 crore (Bloomberg estimate Rs 4,091 crore).
Ebitda down 9% at Rs 536 crore versus Rs 591 crore (Bloomberg estimate Rs 625 crore).
Ebitda margin at 12% versus 14.3% (Bloomberg estimate 15.3%).
Net profit down 19% at Rs 331 crore versus Rs 410 crore (Bloomberg estimate Rs 365 crore).
Cummins India Q1 FY25 Highlights (Consolidated, YoY)
Revenue up 4% to Rs 2,315 crore versus 2,218 crore (Bloomberg estimate Rs 2,325 crore).
Ebitda up 38% to Rs 472 crore versus Rs 342 crore (Bloomberg estimate Rs 423 crore).
Ebitda margin at 20.4% versus 15.4% (Bloomberg estimate Rs 18.20%).
Net profit rose 31% to Rs 463 crore versus 354 crore (Bloomberg estimate Rs 413 crore).
3M India Q1 Y25 (Consolidated, YoY)
Revenue down 0.3% at Rs 1,047 crore versus Rs 1,050 crore.
Ebitda up 20% at Rs 207 crore versus Rs 173 crore.
Ebitda margin at 19.8% versus 16.5%.
Net profit up 22% at Rs 157 crore versus Rs 129 crore.
PI Industries Q1 FY25 (Consolidated, YoY)
Revenue up 8% at Rs 2,069 crore versus Rs 1,910 crore (Bloomberg estimate Rs 2,134 crore).
Ebitda up 25% at Rs 583 crore versus Rs 467 crore (Bloomberg estimate Rs 559 crore).
Ebitda margin at 28.2% versus 24.5% (Bloomberg estimate 26.2%).
Net profit up 17% at Rs 449 crore versus Rs 383 crore (Bloomberg estimate Rs 407 crore).
Linde India Q1 FY25 (Consolidated, YoY)
Revenue down 9.4% at Rs 653 crore versus Rs 721 crore.
Ebitda up 11.6% at Rs 183 crore versus Rs 164 crore.
Margin at 28% versus 22.7%.
Net profit up 13.8% at Rs 114 crore versus Rs 100 crore.
Indigo Paints Q1 FY25 (Consolidated, YoY)
Revenue up 8% at Rs 311 crore versus Rs 288 crore (Bloomberg estimate Rs 320 crore).
Ebitda down 1.4% at Rs 47.9 crore versus Rs 48.6 crore (Bloomberg estimate Rs 57 crore).
Ebitda margin at 15.4% versus 16.8% (Bloomberg estimate 17.7%).
Net profit down 16% at Rs 27 crore versus Rs 32 crore (Bloomberg estimate Rs 33 crore).
Gland Pharma Q1 FY25 Highlights (Consolidated, YoY)
Revenue up 16% to Rs 1,402 crore versus Rs 1,209 crore (Bloomberg Estimate: Rs 1,519 crore).
Ebitda down 10% to Rs 264 crore versus Rs 294 crore (Bloomberg Estimate: Rs 359 crore).
Margin at 18.9% versus 24.3% (Bloomberg Estimate: 23.60%).
Net profit down 26% to Rs 144 crore versus Rs 194 crore (Bloomberg Estimate: Rs 214 crore).
EIH (Consolidated, YoY)
Revenue up 5.8% at Rs 527 crore versus Rs 498 crore (Bloomberg estimate Rs 546 crore).
Ebitda down 12.9% at Rs 135 crore versus Rs 155 crore (Bloomberg estimate Rs 163 crore).
Margin at 25.6% versus 31.1% (Bloomberg estimate 29.8%).
Net profit down 8.5% at Rs 97 crore versus Rs 106 crore (Bloomberg estimate Rs 124).
Bosch Q1 FY25 (Consolidated, YoY)
Revenue up 3.8% at Rs 4,317 crore versus Rs 4,158 crore.
Ebitda up 11.3% at Rs 521 crore versus Rs 468 crore.
Margin at 12.1% versus 11.2%.
Net profit up 13.9% at Rs 466 crore versus Rs 409 crore.
Fortis Healthcare Q1 FY25 (Consolidated, YoY)
Revenue up 12.2% to Rs 1,858.90 crore versus Rs 1,657.41 crore (Bloomberg estimate: Rs 1,825 crore).
Ebitda up 26% to Rs 342.52 crore versus Rs 272.46 crore (Bloomberg estimate: Rs 356 crore).
Margin expanded to 18.4% versus 16.4% (Bloomberg estimate: 19.50%).
Net profit up 40% to Rs 173.98 crore versus Rs 123.95 crore (Bloomberg estimate: Rs 180 crore).
Fusion Micro Finance (YoY)
Total income up 27.8% at Rs 707 crore versus Rs 553 crore.
Net loss of Rs 35.6 crore versus profit of Rs 120 crore.
Gulf Oil Lubricants Q1 FY25 (Consolidated, YoY)
Revenue up 10% at Rs 894 crore versus Rs 812 crore (Bloomberg estimate Rs 864 crore).
Ebitda up 23% at Rs 114 crore versus Rs 93 crore (Bloomberg estimate Rs 106 crore).
Ebitda margin at 12.8% versus 11.5% (Bloomberg estimate 12.3%).
Net profit up 24% at Rs 84 crore versus Rs 68 crore (Bloomberg estimate Rs 78 crore).
VIP Industries Q1 FY25 (Consolidated, YoY)
Revenue up 0.5% at Rs 639 crore versus Rs 636 crore (Bloomberg estimate Rs 688 crore).
Ebitda down 39.5% at Rs 49 crore versus Rs 81 crore (Bloomberg estimate Rs 80 crore).
Margin at 7.7% versus 12.7% (Bloomberg estimate 11.6%).
Net profit down 94.8% at RS 4 crore versus Rs 77 crore (Bloomberg estimate Rs 29 crore).
IIFL Finance Q1 FY25 (Standalone, YoY)
Total income flat at Rs 1,015 crore versus Rs 1,022 crore.
Net loss at Rs 23 crore versus profit of Rs 151 crore (Bloomberg estimate Rs 348 crore).
Alert: Net loss on derecognition of financial instruments under FVTOCI category 174.11 crore versus 25.18 crore YoY.
Elantas Beck India Q2 YoY
Revenue up 10% at Rs 191 crore versus Rs 173 crore.
Ebitda up 9% at Rs 38 crore versus Rs 35 crore.
Ebitda margin at 19.9% versus 20.3%.
Net profit up 20% at Rs 42 crore versus Rs 35 crore.
PB Fintech Q1 FY25 (Consolidated, QoQ)
Revenue down 7% at Rs 1,010 crore versus Rs 1,090 crore (Bloomberg estimate Rs 871 crore).
Ebitda loss at Rs 40 crore versus Ebitda of Rs 6 crore (Bloomberg estimate net loss of Rs 19 crore).
Net profit flat at Rs 60 crore (Bloomberg estimate Rs 44 crore).
GIFT Nifty Trades Near 24,200
Markets in Japan erased gains on Wednesday as investors speculate over the country and US' monetary policy outlook. Meanwhile, share indices in South Korea and Australia were trading with marginal gains.
The Nikkei 225 was trading 390.06 points, or 1.12% lower at 34,285.40 as of 06:57 a.m. The KOSPI and the S&P ASX 200 were trading 0.81% and 0.1% higher, respectively as of 06:57 a.m.
The S&P 500 and Nasdaq Composite rose 1.04% and 1.03%, respectively, as of Tuesday. The Dow Jones Industrial Average was up 0.76%.
Brent crude was trading 0.413 lower at $76.51 a barrel. Gold fell 0.34% to $2,382.68 an ounce.
The GIFT Nifty was trading 0.27%, or 65.50 points higher at 24,193.00, as of 07:00 a.m.
The Indian benchmark equity indices fell for the third consecutive session on Tuesday and closed at the lowest level in over a month, as they erased all their morning gains in the second half of the session.
The NSE Nifty 50 fell 63.05 points, or 0.26%, to end at 23,992.55, while the S&P BSE Sensex closed 166.33 points, or 0.21%, down at 78,593.07. During the day, Nifty had risen as much as 1.36% and Sensex had jumped 1.39%.
Foreign portfolio investors remained net sellers for the third consecutive session on Tuesday. FPIs offloaded equities worth Rs 3,531.2 crore, while domestic investors remained net buyers for the third consecutive session and mopped up equities worth Rs 3,357.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened 12 paise to close at a record low of 83.96 against the US dollar.
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