KEY HIGHLIGHTS
Rupee Ends At Fresh Record Closing Low Against US Dollar
Rupee weakened 2 paise to a record closing low of 83.72 against the US dollar.
It closed at 83.70 on Thursday.
Source: Bloomberg
Nifty Ends At Record To Log Best Weekly Streak In Over Six Years: Closing Bell
Benchmark equity indices snapped five consecutive days of fall to close at their highest levels on Friday. On a weekly basis the Nifty, recorded its best streak of weekly gains since eight weeks ended January 22, 2018.
Both the indices closed at their highest levels. The Nifty closed at 24834.85, up 1.76% or 428.75 points and the Sensex was at 81332.72, up 1.62% or 1,292.92 points.
The Nifty also hit its intraday high of 24,861.15 points in the last minute of trade. Both the indices rose 1.8% intraday.
"Indian shares opened on a strong note Friday, driven by data showing the U.S. economy grew at an estimated annual rate of 2.8% from April to June, doubling the previous quarter’s growth rate," according to Avdhut Bagkar technical and derivatives analyst, StoxBox.
"Cooling inflation in the U.S. also fueled expectations of potential Federal Reserve rate cuts," he said. "This positive sentiment helped benchmark equity indices end a five-day losing streak, closing at their highest levels of the week."
Shares of Infosys Ltd., Bharti Airtel Ltd., ITC Ltd., Reliance Industries Ltd., and ICICI Bank Ltd. led the gains.
While those of Oil & Natural Gas Corp., HDFC Bank Ltd., Tata Consumer Ltd., Nestle India Ltd., and Axis Bank Ltd minimised the gains.
Market breadth was skewed in favour of buyers. Around 2,650 stocks rose, 1,285 stocks declined, and 105 stock remained unchanged on BSE.
Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap indices ended 2.12% and 1.00% higher, respectively.
On BSE, 20 sectors ended on a positive note with the S&P BSE Telecommunication emerging as the top gainer. The S&P BSE Oil & Gas rose the least.
Weekly Performance
On a weekly basis, the Nifty added 1.24% and the Sensex closed 0.90% higher.
Most sectoral indices ended higher this week with Nifty Pharma leading and Nifty Bank coming out as the top loser.
Latent View Q1 Earnings (Consolidated, YoY)
Net profit down 14% at Rs 39 crore vs Rs 45 crore
EBIT margin at 19.7% vs 22.1%
EBIT down 6.9% at Rs 35 crore vs Rs 38 crore
Revenue up 4.2% at Rs 179 crore vs Rs 172 crore
Cipla Q1 Results (Consolidated, YoY)
Revenue up 6% at Rs 6,694 crore vs Rs 6,329 crore
EBITDA up 15% at Rs 1,716 crore vs Rs 1,494 crore
Net profit up 18% at Rs 1,175 crore vs Rs 998 crore
Margin at 25.6% vs 23.6%
Vedanta Board Approves Interim Dividend
Board approves second interim dividend of Rs 4/share for FY25
Second interim dividend for FY25 amounts to Rs 1,564 crore
Source: Exchange Filing
Cholamandalam Investment Q1 Earnings
Total income up 41% at Rs 5,829 crore vs Rs 4,134 crore
Net profiti up 29.8% at Rs 942 crore vs Rs 726 crore
Paytm Said To Have Received Govt's Approval For Chinese Investment In Payment Aggregator Unit
Paytm Payment Services set to receive funding from China-linked investors
Government approval clears way for RBI nod on payment aggregator business
RBI had asked Paytm to get government approval for the investment. In the interim, the business license was suspended
Shares of One 97 Communication Ltd. hit a 10% upper circuit and rose to Rs 505.05 apiece, the highest level since Feb 8. It remained locked in the upper circuit as of 2:46 p.m. This compares to a 1.64% advance in the NSE Nifty 50 Index.
It has declined 35.42% in 12 months, and 19.89% on year-to-date basis. Total traded volume so far in the day stood at 1.9 times its 30-day average. The relative strength index was at 71.22.
Out of analysts tracking the company, four maintain a 'buy' rating, six recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 14.1%
Most European Indices Higher At Open
Alembic Pharma Panelav Facility Cleared By US FDA
US FDA completes inspection for Oral Solid Formulation Facility at Panelav
GMP inspection at Panelav facility concluded without any Form 483 observation
Source: Exchange filing
Equitas Small Finance Bank Q1 Results (YoY)
Total income up 20% at Rs 1,710 crore vs Rs 1,425 crore
Net profit down 86.5% at Rs 26 crore vs Rs 191 crore
TTK Prestige Q1 Earnings (Consolidated, YoY)
Net profit down 13.8% at Rs 41 crore vs Rs 47 crore
Margin at 9.3% vs 10.3%
EBITDA down 10.2% at Rs 54 crore vs Rs 61 crore
Revenue flat at Rs 588 crore
Source: Exchange Filing
Shriram Finance Jumps Over 6% After Q1 Earnings
Q1 Results (Consolidated, YoY)
Net profit up 18.6% at Rs 2,031 crore vs Rs 1,712 crore
Total income up 20% at Rs 9,610 crore vs Rs 8,008 crore
Ola Electric to launch IPO on Aug 2
Ola Electric IPO to remain open from Aug.2-6, due to weekend.
The anchor book for the Ola Electric IPO will be open on Aug. 1.
Ola Electric to list on BSE, NSE on Aug. 9.
Sources To NDTV Profit
All Adani Group Stocks Gain
Piramal Pharma Q1 Earnings (Consolidated, YoY)
Net loss of Rs 88.6 crore vs loss of Rs 98.6 crore
Revenue up 11.5% at Rs 1,951 crore vs Rs 1,749 crore
EBITDA margin at 10.5% vs 7.5%
EBITDA up 55% at Rs 205 crore vs Rs 132 crore
Ashok Leyland Rises To Life High
Shares of Ashok Leyland Ltd. rose 7.08% to Rs 248.89, the highest level since May 25, 1999. It was trading 6.73% higher at Rs 248.89 as of 11:51 a.m., as compared to 0.98% advance in the NSE Nifty 50 index.
Mphasis Jumps Over Two-Year High After Net Profit Rises
Mphasis Ltd. jumped to the highest level in over two years on Friday as the company reported growth in the net profit during April-June. Its consolidated net profit rose 2.9% on the year to Rs 405 crore from to Rs 393 crore.
Seven Nifty Stocks Hit 52-Week Highs
Nifty Auto Extends Gains To Day 2; Hits Record
10-Year Yield Lowest Since April 2022
Tech Mahindra Lags IT Index Record Jump As Brokerages See Near-Term Pain
Shares of Tech Mahindra saw their worst intra-day fall since January on Friday, even as the Nifty IT hit its lifetime high, after brokerages said that they see near-term pain for the company.
Sanstar Lists At 14.7% Premium Over Issue Price On NSE
Shares of Sanstar listed on the National Stock Exchange at Rs 106.40 apiece, a premium of 14.7% over its issue price of Rs 95. On the BSE, it debuted at a 12% premium over its issue price.
The initial public offering of Sanstar was subscribed 82.99 times on its third and final day, led by demand from non-institutional investors. The IPO consisted of a fresh issue of 4.18 crore shares and an offer for sale of 1.19 crore shares.
Indus Towers Jumps As Co To Consider Buyback
Shares of Indus Towers Ltd. rose to the highest level over six years on Friday as the company will consider buyback of shares in an upcoming board meeting.
Nifty IT Hits Record High
Nifty IT hits record high with all its constituents rising except Tech Mahindra.
Nifty Pharma Hits Record High
All its constituents but Mankind Pharma rose. Mankind Pharma fell after hitting one-month high.
Jupiter Wagons Jumps Over 3% After Results
Shares of Jupiter Wagons Ltd. rose nearly 3% as the company reported higher than expected growth in its net profit during April-June. Its consolidated net profit rose 46.2% on the year to Rs 92 crore, compared to Bloomberg's forecast of Rs 84 crore.
Jupiter Wagons Q1 FY25 (Consolidated, YoY)
Revenue up 16.8% at Rs 880 crore versus Rs 753 crore (Bloomberg estimate Rs 705 crore).
Ebitda margin at 15.53% versus 12.85%.
Ebitda up 41.2% at Rs 137 crore versus Rs 97 crore.
Net profit up 46.2% at Rs 92 crore versus Rs 63 crore (Bloomberg estimate 84 crore).
Nifty Bank Hits One-Month Low
The index fell for the fourth consecutive session today losing over 3%.
SJVN Jumps Over 13% On Rs 14,000 Crore Order Win
Share of SJVN Ltd. soared over 13% on Friday after it bagged a Rs 13,947 crore pumped storage project in Mizoram. About 1.25 million shares of the power generation company were traded in a block, according to Bloomberg.
The company said received a Letter of Intent from the Government of Mizoram for the allotment of the Darzo Lui Pumped Storage Project, marketing SJVN's first venture in the state.
Chalet Hotels Buys 11 Acres Land In Goa
To buy 11 acres land in Goa for Rs 137 crore
Source: Exchange Filing
Nifty, Sensex Snap Five-Day Fall At Open As Kotak Bank Leads Gains: Opening Bell
Benchmark equity indices snapped their five-day losing streak to open higher as Kotak Mahindra Bank led the gains. However, the gains were limited as HDFC Bank and ICICI Bank dragged.
At pre-open, the Nifty was at 24,423.35, up 0.07% or 17.25 points and the Sensex was 80,163.31 up by 0.15% or 123.51 points.
"On the higher side the crossover of the budget day high of 24,600 will trigger covering in index pivotal pushing the markets higher near to all time high," according to Vikas Jain, head of research at Reliance Securities.
Aditya Gaggar, director of Progressive Shares said, "The level of 24,200 is acting as rock-solid support for the Index and as long as the Index holds it, the uptrend will remain intact."
He added that on the flip side, a level of 24,560 is considered an immediate hurdle.
Shares of Bharti Airtel Ltd., Infosys Ltd., Tata Consultancy Services Ltd., State Bank Of India, and Reliance Industries Ltd contributed the most to the gains.
While those of HDFC Bank Ltd., ICICI Bank Ltd., Tech Mahindra Ltd., Larsen & Toubro Ltd., and Axis Bank Ltd weighed.
Most sectoral indices were higher with Nifty Metal leading. Nifty Bank was the top loser.
Nifty, Sensex Higher At Pre-Open
At pre-open, the Nifty was at 24,423.35, up 0.07% or 17.25 points and the Sensex was 80,163.31 up by 0.15% or 123.51 points.
Nomura on Sona BLW
Maintains 'Buy' with target increased to Rs 788 from Rs 775
Strong performance despite tough macro
Added Rs. 1,100 crores of new orders, including Rs.680 crores from existing EV CV customer
Board approved raising Rs 2,400 crores via equity/convertible instruments
Specifically for new inorganic opportunities and tech tie-ups
First such order win for sensor segment has vast potential
Sona consistently expanding order book and new product development
Will continue to drive higher than industry growth over the medium term
Near term likely impacted due to slowdown in its key customers
Lower revenue growth estimates to 21%/37% yoy for FY25/26F vs 25%/40% yoy
Roll forward valuation to 45x average FY26F-27F EPS
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.95%.
It closed at 6.95% on Thursday.
Source: Cogencis
IIFL Securities On Draft LCR Guidelines
Draft changes to LCR norms to further fortify banks’ liquidity profile
Estimate LCR hit of 11-18 ppt for banks
LCR may fall below threshold for Federal
Expect these norms to drive CD ratio lower
To intensify retail deposit competition
To drive margins lower for the banks
Rupee Weakens To Record Low Against US Dollar
Rupee weakened 3 paise to a record low of 83.73 against the US dollar.
The currency opened at 2 paise lower at 83.72.
It closed at 83.70 on Thursday.
Source: Bloomberg
Motilal Oswal On Draft Liquidity Guidelines
Stable Deposit: Run of factor has been increased to 10% from the existing 5%
Less Stable Deposit: Run-off factor has been increased to 15% from the existing 10%
Run-off factor is unanticipated deposit withdrawal
Steps to strengthen liquidity framework of banks
Aim to enhance overall liquidity resilience of banks, better prepared to manage risk
Impact on banks LCR ratio is broadly 7-13%
Federal, IDFC First & AU SFB – have relatively lower LCRs vs other Pvt. Banks
BOB in PSBs has a lower LCR ratio
Mphasis Launches Two AI Driven Software Products
Launches two products for AI-driven software engineering & enterprise modernisation
Source: Exchange Filing
Nomura on Ashok Leyland
Maintains 'Buy' with target Rs 247
EBITDA margin largely in line with estimates
Management continues to see strong demand in all its business
Power Solutions, Aftermarket, Defense, and International Operations contributed strongly to the top line
Clear roadmap to participate in growing EV market with Switch Mobility
Strengthen position in LCV market with 2nd e-LCV launch by Switch
Strongly focussed on achieving mid-teens EBITDA in medium term
Estimate margins will gradually continue to move higher through the upcycle
Factor in 6%/7% yoy increase in volumes for FY25F/26F
Key catalysts will be
Improved CV growth
Double-digit EBITDA growth over FY25-26F
Upside from the EV business
Nuvama on Tech Mahindra
Maintains ‘Reduce’ with a target price of Rs 1200 versus Rs 1000 earlier, downside 22%
First quarter after announcement of 3 yr strategy was decent
the road to its target is a long and winding one
Q1 results are a step in the right direction
But the road ahead shall be quite challenging
Growth shall be difficult with telecom still forming 33% of revenue
Margins likely to face headwinds before tailwinds
Continue to anticipate near-term pain before any long-term gain
Margins Headwinds: Building bench strength, investing in growth
Margin Tailwinds: employee pyramid, subcontracting costs
Bernstein On Draft LCR Framework
Could be effective 1st April 2025
Major change: Additional 5% run-off factor for retail deposits
Appears excessive measure
Large banks: assuming 80% retail deposits enabled with internet banking, LCR to decline by 10-15% for large banks
Same level of LCR could impact ROA of 0.05%
Retail banks (SOE) to have larger impact
Higher runoff for retail deposits could reduce LCR by 10-15 pp for the large banks
Banks with greater share of retail deposits will see a greater impact
Brokerages On Tech Mahindra
Citi Research
Maintains 'Sell', Target raised to Rs 1,260 from Rs 1,150, downside 18%
Margin improvement not possible without uptick in growth
Subcontracting costs down 200 bps
Good growth in US
Telecom vertical still weak
Comviva seasonality impact of 50bps
Commentary suggests market conditions largely unchanged
Discretionary spends still challenged
Nuvama Raises Target Price
Maintains reduce
Target raised to Rs 1,200 from Rs 1,000 earlier
Revenue slightly ahead of our/Street’s expectations of 0.5% CC QoQ
Broad-based growth except telecom; deal-wins stable
Margins taking small steps towards FY27 target
Small steps in right direction, but miles to go
Margins are likely to face headwinds
Continue to anticipate near-term pain before any long-term gain
Introducing FY27 estimates and rolling forward valuation to 18x Sep-26 PE (earlier 16x)
Nuvama Retains 'Hold' On Cyient; Reduces Price Target
Target price reduced to Rs 1,840 from Rs 2,120 earlier
Reported a disappointing Q1FY25
Broad based decline; order inflow also weak
Digital, Engineering, and Technology revenue declined 5% QoQ/3.6% YoY in CC terms
Now requires 3%-plus Compounded Quarterly Growth Rate to achieve FY25 flat YoY revenue guidance
Cheap valuations limit potential downside
Cutting consolidated FY25E/26E EPS by -15%/-12%
Rolling forward to 20x Sep-26 PE (from 22x)
Nirmal Bang Upgrades AU Small Finance Rating To 'Buy'
Target Price at Rs 784, implying 24% upside
Results were much better than our expectations
Marked improvement in NIM from 5.1% in 4QFY24 to 6% in 1QFY25
Improvement in disbursement yields by 250bps QoQ to 15.8%
7bps QoQ improvement in the cost of funds and
Merger synergies from Fincare SFB merger
Received the board’s approval for applying for the universal bank license
Universal Banking License to enhance brand image, lead to improved acceptability by customers
Valued AU SFB at 2.75x its June 2026E ABV
Nomura Maintains 'Buy' On Axis Bank
Target price raised to Rs 1,435 from Rs 1,485 earlier
Company entering a challenging phase
Sharp pick-up in credit costs led by unsecured retail, lower NPL recoveries
Soft loan and deposit growth trends; opex surprises positively
Cut FY25-26F EPS by 3-5%
Factor in a moderation in our loan growth outlook to 13%
Valuations are still attractive
Mphasis Q1 Earnings (Consolidated, YoY)
Revenue up 0.3% at Rs 3,422 crore vs Rs 3,412 crore
EBIT up 1.1% at Rs 514 crore vs Rs 508 crore
EBIT margin at 15% vs 14.9%
Net profit up 2.9% at Rs 405 crore vs Rs 393 crore
KPI Green Gets LoI From Gujarat Urja Vikas Nigam
Gets LoI from Gujarat Urja Vikas Nigam for 620 MW grid-connected solar & hybrid RE projects
Source: Exchange Filing
Sun Pharma Gets US FDA Approval For LEQSELVI tablets
Gets US FDA approval for LEQSELVI tablets used to treat severe alopecia areata
Source: Exchange Filing
Global Cues
U.S. Dollar Index at 104.28
U.S. 10-year bond yield at 4.24%
Brent crude up 0.22% at $82.55 per barrel
Nymex crude up 0.22% at $78.45 per barrel
GIFT Nifty was flat at 24,476.50 as of 7:29 a.m.
Bitcoin was up 1.8% at $66,447.13.
F&O Cues
Nifty August futures down by 0.13% to 24,461.55 at a discount of 55.45 points.
Nifty August futures open interest up by 55%.
Nifty Bank July futures down by 0.94% to 50,918 at a premium of 29.25 points.
Nifty Bank July futures open interest down by 9.22%.
Nifty Options August 1 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24,000.
Bank Nifty Options July 31 Expiry: Maximum Call Open Interest at 53,000 and Maximum Put open interest at 39,500.
Securities in ban period: Nil.
Trading Tweaks
Price band change from 5% to 20%: Raymond.
Ex/record Dividend: The Ugar Sugars, Aarti Industries, ADF Foods, The Anup Engineering, Associated Alcohols & Breweries, BASF India, Birla Cable, Control Print, Coromandel International, Cosmo First, Credit Access Grameen, DCM Shriram Industries, Dollar Industries, Everready Industries India, Galaxy Surfactants, Godrej Agrovet, InfoBeans Technologies, JK Tyre and Industries, Kirloskar Brothers, Repco Home Finance, Sonata Software, Nocil, Symphony, Universal Cables, Yasho Industries, Zydus Lifesciences.
Ex/record AGM: Jyoti Structures, The Ugar Sugars, ADF Foods, Allsec Technologies, The Anup Engineering, Associated Alcohols & Breweries, BASF India, Birla Cable, Control Print, Coromandel International, Cosmo First, Credit Access Grameen, DCM Shriram Industries, Dollar Industries, Eveready Industries India, Godrej Agrovet, Infobeans Technologies, JK Tyre and Industries, K.M.Sugar Mills, Repco Home Finance, R R kabel, Sobha, Sonata Software, Nocil, PFC, RBL Bank, Symphony, Timken India, Universal Cables, Whirlpool of India, Yasho Industries, Zydus Lifesciences.
Ex/record Rights Issue: Tata Consumer Products.
Moved in short-term Framework: Agri-Tech (India), Apex Frozen Foods, Nova Agritech.
Moved out short-term Framework: Allied Digital Services, EPACK Durable, Roto Pumps.
Bulk Deals
RBL Bank: Maple II B V sold 4.78 crore shares (7.89%) at Rs 228.08 apiece, Morgan Stanley Asia Singapore Pte bought 1.25 crore shares (2.06%) at Rs 228 apiece, Societe Generale bought 70.93 lakh shares (1.17%) at Rs 228 apiece.
Eraaya Lifespaces: Share India Securities bought 1.2 lakh shares (0.79%) at Rs 799 apiece, Sneha Garg sold 2.08 lakh shares (1.37%) at Rs 799.62 apiece, Vishal Jai Kumar Garg sold 1.12 lakh shares (0.74%) at Rs 799.57 apiece.
Block Deals
Shanti Education Initiatives: Legends Global Opportunities (Singapore) Pte. Ltd. bought 12.25 lakh shares (0.76%) at Rs 94.7 apiece, and Lgof Global Opportunities Ltd. sold 12.25 lakh shares (0.76%) at Rs 94.7 apiece.
Listing Day
Sanstar: The company's shares will debut on the stock exchanges on Thursday. The IPO, with an issue price of Rs 95 apiece, was subscribed 82.99 times on its final day. Bids were led by institutional investors (145.68 times), retail investors (24.23 times), and non-institutional investors (136.5 times).
Stocks To Watch
Mankind Pharma: The company will buy Bharat Serums and Vaccines for Rs 13,630 crore. The transaction is expected to close within three–four months.
SJVN: The company has received a huge order worth Rs 13,947.50 crore from the Mizoram government to complete a pumped storage project.
Texmaco Rail & Engineering: The board approved the acquisition of Jindal Rail Infrastructure from JITF Urban Infrastructure Service for an aggregate consideration amount of Rs 465 crore.
Gandhar Oil Refinery: The board approved the incorporation of a new subsidiary, Gandhar Lifesciences. The new unit will carry out the pharmaceuticals and cosmetics business.
Magadh Sugar & Energy: Sudershan Bajaj resigned as the chief financial officer and key managerial personnel effective July 31.
Cupid: The company has expanded its e-commerce presence through Indian platforms like Amazon, Flipkart, and 1mg.
Earnings in Focus
Cholamandalam Investment and Finance, Cipla, City Union Bank, Equitas Small Finance Bank, GMDC, InterGlobe Aviation, IndusInd Bank, Intellect Design Arena, Kaynes Technology, KEC International, KFIn Technologies, Latent View Analytics, Laxmi Organics Industries, Nuvama Wealth Management, Power Grid Corp., Piramal Pharma, Punjab and Sind Bank, Sanofi India, Shriram Finance, and TTK Prestige.
Earnings Post Market Hours
Adani Energy Q1 FY25 (Consolidated, YoY)
Revenue up 47% at Rs 5,379 crore versus Rs 3,664 crore.
Ebitda up 43% at Rs 2,244 crore versus Rs 1,574 crore.
Ebitda margin at 41.7% versus 42.9%.
Net loss at Rs 1,190 crore versus profit of Rs 182 crore.
Net loss led by exceptional item of Rs 1,506 crore in current quarter.
Tech Mahindra Q1 FY25 (Consolidated, QoQ)
Revenue up 1% to Rs.13,005 crore versus Rs. 12,871 crore (Bloomberg estimate Rs 12,966 crore).
EBIT up 16.9% to Rs. 1105 crore versus Rs.946 crore (Bloomberg estimate Rs 1044 crore)
EBIT margin at 8.5% versus 7.3% (Bloomberg est. 8.1%).
Net profit up 28.7% to Rs.851 crore versus vs 661 crore (Bloomberg estimate Rs 873 crore).
AU Small Finance Bank Q1 FY25 (Standalone, YoY)
NII up 54% at Rs 1,921 crore versus 1,246 crore.
Net profit up 30% at Rs 502.57 crore versus Rs 386.8 crore (Bloomberg estimate Rs 484 crore).
GNPA at 1.78% versus 1.67% (QoQ).
NNPA 0.63% versus 0.55% (QoQ).
Jupiter Wagons Q1 FY25 (Consolidated, YoY)
Revenue up 16.8% at Rs 880 crore versus Rs 753 crore (Bloomberg estimate Rs 705 crore).
Ebitda margin at 15.53% versus 12.85%.
Ebitda up 41.2% at Rs 137 crore versus Rs 97 crore.
Net profit up 46.2% at Rs 92 crore versus Rs 63 crore (Bloomberg estimate 84 crore).
Praj Industries Q1 FY25 (Consolidated, YoY)
Revenue down 5.1% at Rs 699 crore versus Rs 737 crore (Bloomberg estimate Rs 799 crore).
Ebitda up 21.8% at Rs 92 crore versus Rs 75 crore (Bloomberg estimate Rs 91 crore).
Ebitda margin at 13.2% versus 10.2% (Bloomberg estimate 11.4%).
Net profit up 43.5% at Rs 84 crore versus Rs 59 crore (Bloomberg estimate Rs 65 crore).
Cyient Q1 FY25 (Consolidated QoQ)
Revenue down 9.9% at Rs 1,676 crore versus Rs 1,861 crore.
EBIT margin at 11.9% versus 14.4%.
EBIT down 25.7% at Rs 199 crore versus Rs 268 crore.
Net profit down 25.03% at Rs 148 crore versus Rs 197 crore.
Home First Finance Q1 FY25 (Standalone, YoY)
Total income up 31.4% at Rs 341 crore versus Rs 260 crore.
Net profit up 27% at Rs 88 crore versus Rs 69 crore (Bloomberg estimate Rs 84 crore).
Ramco Cements Q1 FY25 (Consolidated, YoY)
Revenue down 6.8% at Rs 2,094 crore versus Rs 2,247 crore.
Ebitda down 6.8% at Rs 320 crore versus Rs 343 crore.
Margin flat at 15.3%.
Net profit down 50.8% at Rs 37 crore versus Rs 74 crore.
Mahanagar Gas Q1 FY25 (Standalone, YoY)
Revenue up 1.5% to Rs 1,590 crore versus Rs 1,567 crore.
Ebitda rose 6.3% to Rs 418 crore versus Rs 394 crore.
Ebitda margin at 26.3% versus 25.1%.
Net profit up 7.4% to Rs 285 crore versus Rs 265 crore.
Motilal Oswal Q1 FY25 (YoY)
Total income up 66.7% at Rs 1,531 crore versus Rs 918 crore.
Net profit up 80.7% at Rs 519 crore versus Rs 287 crore.
United Breweries Q1 FY25 (Consolidated, YoY)
Revenue up 10.8% at Rs 2,475 crore versus Rs 2,275 crore (Bloomberg estimate Rs 2,631 crore).
Ebitda up 27.9% at Rs 285 crore versus Rs 223 crore (Bloomberg estimate Rs 285 crore).
Ebitda margin at 11.5% versus 9.8% (Bloomberg estimate 10.8%).
Net profit up 27.5% at Rs 173 crore versus Rs 136 crore (Bloomberg estimate Rs 179 crore).
DLF Q1 FY25 (Consolidated, YoY)
Revenue down 4% at RS 1,362 crore versus Rs 1,423 crore (Bloomberg estimate Rs 1,474 crore).
Ebitda down 42.3% at Rs 229 crore versus Rs 396 crore (Bloomberg estimate Rs 501 crore).
Ebitda margin at 16.8% versus 27.8% (Bloomberg estimate 34%).
Net profit up 22.5% at Rs 645 crore versus Rs 526 crore (Bloomberg estimate Rs 682 crore).
Glenmark Life Sciences Q1 FY25 (Consolidated, YoY)
Revenue up 1.8% at Rs 589 crore versus Rs 578 crore.
Ebitda down 17.4% at Rs 159 crore versus Rs 193 crore.
Ebitda margin at 27.1% versus 33.4%.
Net profit down 17.7% at Rs 111 crore versus Rs 135 crore.
Chalet Hotels Q1 FY25 (Consolidated, YOY)
Revenue up 16.2% at Rs 361 crore versus Rs 311 crore (Bloomberg estimate Rs 363 crore).
Ebitda up 27.8% at Rs 140 crore versus Rs 110 crore (Bloomberg estimate Rs 142 crore).
Margin up 352 bps at 38.8% versus 35.3% (Bloomberg estimate 39.2%).
Net profit down 31.6% at Rs 61 crore versus Rs 89 crore (Bloomberg estimate Rs 49 crore).
Go Digit General Insurance Q1 FY25 (YOY)
Total Income up 24.6% at Rs 2,077 crore versus Rs 1,667 crore.
Net profit up 73.3% at Rs 101 crore versus Rs 58 crore.
Vesuvius India Q1 FY25 (Consolidated, YOY)
Revenue up 14.2% at Rs 462 crore versus Rs 405 crore.
Ebitda up 31.4% at Rs 92 crore versus Rs 70 crore.
Margin up 259 bps at 19.8% versus 17.2%.
Net profit up 28.9% at Rs 67 crore versus Rs 52 crore.
GIFT Nifty Trades Near 24,500
The August futures contract of the GIFT Nifty was trading flat as of 7:14 a.m.
Markets in the Asia-Pacific region rose Friday as better-than-expected US GDP data affirmed investors' expectation of a rate cut from the Federal Reserve in September.
The Nikkei 225 was 142.55 points or 0.38% higher at 38,012.06, and the Kospi was 12.86 points or 0.47 higher at 2,723.51.
Wall Street traders, confident in the Fed's ability to orchestrate a smooth economic adjustment, fuelled a rally in higher-risk sectors of the market. This comes after a widespread market downturn that shook global markets in the previous session.
Shares of economically sensitive sectors, including financial and industrial companies, led the charge on Thursday. Smaller firms continued their strong performance this month, surging nearly 10%, significantly outpacing the gains of tech giants.
The S&P 500 and the Nasdaq Composite declined over 0.51% and 0.93%, respectively, as of Thursday. The Dow Jones Industrial Average was trading 0.20% higher.
Brent crude was trading 0.10% lower at $82.29 a barrel. Gold was 0.14% lower at $2,361.21 an ounce.
The Indian benchmark equity indices ended little changed on Thursday as shares of Tata Motors Ltd. and HDFC Bank Ltd. helped them erase losses after a lower open.
The NSE Nifty 50 ended 7.40 points or 0.03% lower at 24,406.10, and the S&P BSE Sensex closed 109.08 points or 0.14% down at 80,039.80.
Foreign portfolio investors offloaded stocks worth Rs 2,605.5 crore on Thursday, while domestic institutional investors stayed net buyers for the third session and mopped up equities worth Rs 2,431.7 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 83.70 against the US dollar.
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