KEY HIGHLIGHTS
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened 1 paise to a record low of 83.73 against the US dollar.
The local currency hit an intraday low of 83.74.
It closed at 83.72 on Friday.
Source: Bloomberg
Sensex, Nifty Retreat From Record To End With Marginal Gains As Airtel Drag: Market Wrap
Benchmarks erased most gains to end Monday's the volatile session with marginal gains As Bharti Airtel Ltd., and HDFC Bank Ltd. dragged.
The NSE Nifty 50 ended 1.25 points or 0.01% higher at 24,836.10, and the S&P BSE Sensex settled 23.12 points or 0.03% higher at 81,355.84.
In early trade, the Nifty 50 rose 0.66% to a fresh high of 24,999.75, and the Sensex rose 0.71% to a record high of 81,908.43.
"Banking counters set the stage for the Index to surpass the psychological barrier of 25,000 but a hidden bearish divergence in the RSI pulled Bank Nifty lower which put pressure on the Index to trade lower to end the day at 24,836.10 with a minuscule gain of 1.25 points," said Aditya Gaggar, Director, Progressive Shares.
On the daily chart, the Nifty 50 index has formed a small red candle with a probable bearish divergence in RSI indicating a temporary pause in its journey towards the north. A level of 25,000 will continue to act as an immediate resistance, Gaggar said.
Larsen & Toubro Ltd., Reliance Industries Ltd., Mahindra & Mahindra Ltd., State Bank of India, and UltraTech Cement Ltd. added to the benchmark index.
HDFC Bank Ltd., Bharti Airtel Ltd., ITC Ltd., Kotak Mahindra Bank Ltd., and Titan Co. weighed on the index.
On NSE, nine sectors ended higher, two ended flat, and one remained flat out of 12. The NSE Nifty PSU Bank rose the most, and the NSE Nifty IT declined the most. The Nifty IT, Nifty FMCG, Nifty Pharma, Nifty Oil & Gas, Nifty Energy rose to life highs.
Broader markets outperformed benchmark indices. The S&P BSE Mdicap and Smallcap indices ended 0.80% and 1.17% higher, respectively.
On BSE, 14 sectors ended higher, and six declined out of 20. The S&P BSE Capital Goods was the best performing sector. Meanwhile, the S&P BSE TECK declined the most.
Market breadth was skewed in favour of buyers. Around 2,355 stocks advanced, 1,702 stocks declined, and 141 stocks remained unchanged on BSE.
Aditya Vision Q1 Earnings Key Highlights (YoY)
Net profit rose 42% at Rs 53 crore vs Rs 37 crore
Revenue rose 38.6% at 889 crore vs Rs 641 crore
Ebitda rose 34.5% at Rs 85 crore vs Rs 63 crore
Margin at 9.6% vs 9.9%
Wonderla Holidays Q1 Earnings Key Highlights (YoY)
Net profit fell 25.1% at Rs 63 crore vs Rs 84 crore
Revenue fell 6.5% at Rs 173 crore vs Rs 185 crore
Ebitda fell 22% at Rs 91 crore vs Rs 117 crore
Margin at 52.9% vs 63.4%
Kansai Nerolac Q1 Earnings Key Highlights (Consolidated, YoY)
Net profit fell 69.3% at Rs 225 crore vs Rs 734 crore
Revenue fell 1.1% at Rs 2,133 crore vs Rs 2,157 crore
Ebitda fell 0.7% at Rs 329 crore vs Rs 332 crore
Margin flat at 15.4%
Jai Balaji Industries Q1 Earnings Key Highlights (Consolidated, QoQ)
Revenue fell 6.9% at Rs 1,718 crore vs Rs 1,846 crore
Ebitda rose 31.1% at Rs 316 crore vs Rs 241 crore
Net profit fell 23.4% at Rs 209 crore vs Rs 273 crore
Margin at 18.4% vs 13%
ASK Automotive Q1 Earnings Key Highlights (Consolidated, YoY)
Net profit rose 63% at Rs 57 crore vs Rs 35 crore
Revenue rose 31% at Rs 862 crore vs Rs 657 crore
Ebitda rose 58% at Rs 101 crore vs Rs 64 crore
Ebitda margin at 11.7% vs 9.7%
Vedant Fashions Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue fell 23.1% at Rs 240 crore vs Rs 312 crore
Net profit fell 31.9% at Rs 63 crore vs Rs 92 crore
Ebitda margin at 47% vs 48%
Ebitda fell 23.9% at Rs 113 crore vs Rs 148 crore
Strides Pharma Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 17% at Rs 1,088 crore vs Rs 930 crore
Ebitda rose 30% at Rs 217 crore vs Rs 167 crore
Ebitda margin at 19.9% vs 17.9%
Net profit at Rs 68 crore vs loss of Rs 9 crore
Voltamp Transformers Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 32.9% at Rs 428 crore vs Rs 322 crore
Net profit rose 56.5% at Rs 79 crore vs Rs 51 crore
Ebitda margin at 17.7% vs 14.9%
Ebitda rose 57.9% at Rs 76 crore vs Rs 48 crore
Cyient DLM Teams Up With Boeing To Make Battery Diode Module
Cyient DLM Ltd. has signed a production contract with Boeing for production of Battery Diode Module for 787 Dreamliner.
Source: Exchange filing
CSB Bank Q1 Earnings Key Highlights
Net profit fell 14% on the year at Rs 113 crore vs Rs 132 crore
Gross NPA at 1.69% vs 1.47% (QoQ)
Net NPA at 0.68% vs 0.51% (QoQ)
NII fell 1% on the year to Rs 362 crore vs Rs 364 crore
Adani Total Gas Q1 Earnings Key Highlights (Consolidated, QoQ)
Net profit rose 2.3% at Rs 172 crore vs Rs 168 crore
Revenue fall 1.5% at Rs 1,145 crore vs Rs 1,167 crore
Ebitda rose 2.9% at Rs 296 crore vs Rs 288 crore
Margin at 25.9% vs 24.7%
Filatex Fashions's Mining Arm Gets Order Worth Rs 293 Crore
Filatex Fashions Ltd.'s mining subsidiary gets export order worth Rs 293 crore.
The arm gets an order to supply 2.97 lakh million ton white marble over 7 years.
Source: Exchange filing
Nifty, Sensex Trade Flat After Hitting New Highs: Midday Market Update
The benchmark stock indices swung between highs and lows throughout the session till midday on Monday as positive first-quarter earnings kept the market buoyant, but recent tax tweaks weighed on investors' sentiments.
The NSE Nifty 50 and the S&P BSE Sensex opened at a fresh record high and later surged as much as 0.66% and 0.71%, respectively, during the day.
As of 12: 25 p.m., the Nifty was trading at 24,839.1, up 0.02% or 4.3 points, while the Sensex was at 81,301.2, down 0.04% or 32 points.
The undercurrent of this bull market has turned stronger on positive cues, according to VK Vijayakumar, chief investment strategist at Geojit Financial Services. "The soft-landing scenario for the US economy and expectation of a rate cut by the Fed in September are intact."
In the current scenario, the market is likely to ignore the valuation concerns and march ahead, he said.
ICICI Bank Ltd., Larsen & Toubro Ltd., State Bank of India., Reliance Industries Ltd. and HDFC Bank Ltd. led the gains in the Nifty.
Bharti Airtel Ltd., Titan Co., ITC Ltd., Tech Mahindra Ltd., and Power Grid Corp. were weighing on the index the most.
Ten out of the 12 sectors on the NSE were trading higher, with the Nifty PSU Bank and Realty advancing the most. The Nifty IT fell the most.
The broader indices were also higher in trade as the BSE MidCap rose by 0.69%, while the SmallCap was 1.15% up.
Fourteen out of the 20 sectoral indices on the BSE advanced, with Capital Goods rising the most.
The market breadth was slightly skewed in the favour of the sellers as 2,527 stocks rose, 1,378 declined and 157 remained unchanged on the BSE.
Sanghi Industries Q1 Earnings Key Highlights (YoY)
Revenue rose 33.8% at Rs 223 crore vs Rs 167 crore
Ebitda loss at Rs 5 crore vs loss of Rs 96 crore
Net loss at Rs 89 crore vs loss of Rs 189 crore
Whirlpool India Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue rose 22.5% at Rs 2,497 crore vs Rs 2,039 crore
Ebitda rose 71% at Rs 211 crore vs Rs 123 crore
Margin at 8.4% vs 6.1%
Net profit rose 89.3% at Rs 145 crore vs Rs 77 crore
Arvind Q1 Earnings Key Highlights (Consolidated, YoY)
Revenue down 1.2% at Rs 1,831 crore vs Rs 1,853 crore
Ebitda fell 16.9% at Rs 150 crore vs Rs 180 crore
Margin at 8.2% vs 9.7%
Net profit fell 37.3% at Rs 44 crore vs Rs 70 crore
Airtel Re-farms Mid-Band Spectrum For 5G Traffic
Bharti Airtel Ltd. has re-farmed mid-band spectrum for 5G traffic.
Source: Exchange filing
Power Grid India Press Conference Highlights
Company has one 6 transmission projects in FY25
Q1FY25 consolidated capex at Rs 4615 crore
Average cost of borrowing at 7.76% in Q1FY25
Company to set up a 85 MW solar plant
Company to start pilot project in green hydrogen and battery storage
To execute 69 lakh smart meters for Uttar and Madhya Gujarat
Company to set up one data center of 1000 racks
Company to explore possibility of setting up more data centres in Hyderabad, Chennai
Speaker: Chairman and MD R.K Tyagi
City Union Bank Shares Hit 52 Week High After Profit Rises 16% In Q1
Shares of City Union Bank Ltd. surged over 9% to hit a 52-week high on Monday, after its profit surged over 16% in the quarter ended June 2024.
Shares of the bank rose as much as 9.38% during the day to 52-week high of Rs 174.80 apiece on the NSE. It was trading 7.21% higher at Rs 171.36 apiece, compared to a 0.47% advance in the benchmark NSE Nifty 50 as of 11:29 a.m.
The stock has risen 28.60% in the last 12 months and 14.86% on a year-to-date basis. The total traded volume so far in the day stood at 5.2 times its 30-day average. The relative strength index was at 63.94.
Nineteen out of the 24 analysts tracking City Union Bank have a 'buy' rating on the stock, two recommend a 'hold' and three suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 4.2%.
Cashfree Payments Secures Payment Aggregator License From RBI
License for cross-border payments, for both imports and exports
Service will enable Indian exporters, freelancers, global businesses, regulated entities etc, to collect and make payments.
Source: statement
Punjab & Sindh Bank Jumps To Over Five-Month High As Net Profit Rises
Shares of Punjab & Sindh Bank Ltd. touched the highest level in over five months on Monday as its net profit grew during first quarter of the ongoing financial year.
Shares of Punjab & Sindh Bank Ltd. rose as much as 7.60% to Rs 73.64, the highest level since Feb 8. It pared gains to trade 2.9% higher at Rs 70.01as of 11:44 a.m., compared to 0.62% advance in the NSE Nifty 50 index.
The scrip gained 114.29% in 12 months, and 62.48% on year to date basis. Total traded volume so far in the day stood at 4.3 times its 30-day average. The relative strength index was at 67.72.
Rupee Weakens To Record Low Against US Dollar
The local currency weakened 2 paise to a record low of 83.74 against the US dollar.
Source: Bloomberg
AIA Engineering To Consider Share Buyback
AIA Engineering is to consider buyback proposal on Aug 7.
Source: Exchange filing
SRM Contractors Gets Order Worth Rs 171 Crore
SRM Contractors Ltd. has received a Letter of Acceptance worth Rs 171 crore from NHAI
Source: Exchange filing
ICICI Bank Rises Nearly 3% As Net Profit Meets Estimates
Shares of ICICI Bank Ltd. rose as much as 2.75% to Rs 1,240.35, the highest level since July 23. The private lender's net profit grew 14.6% annually to Rs 11,059 crore in April - June, compared to Rs 10,739.4 crore Bloomberg Survey estimated.
IndiGo Shares Plunge After Q1 Profit Misses Estimates
Shares of InterGlobe Aviation Ltd. fell nearly 5% on Monday after the airline operator's first-quarter profit missed analysts' estimates.
Indigo's stock fell as much as 4.9% in early trade to Rs 4,273.2 apiece on the NSE. It was trading 1.77% lower at Rs 4,414 per share, compared to a 0.27% advance in the benchmark Nifty as of 9:55 a.m.
The share price has risen 70% in the last 12 months and 48% on a year-to-date basis. The total traded volume so far in the day stood at 4.1 times its 30-day average. The relative strength index was at 56.
Sixteen out of the 22 analysts tracking the company have a 'buy' rating on the stock, four recommend 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 8%.
IndusInd Bank Rises As Net Profit Grows
IndusInd's stock rose as much as 2.31% in early trade to Rs 1,436 apiece on the NSE. It was trading 1.78% higher at Rs 1,428.9 per share, compared to a 0.3% advance in the benchmark at 9:38 a.m.
The share price has risen 0.82% in the last 12 months but declined 11.5% on a year-to-date basis. The total traded volume so far in the day stood at 2.9 times its 30-day average. The relative strength index was at 47.
Forty-nine out of the 49 analysts tracking the bank have a 'buy' rating on the stock, five recommend 'hold' and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 23%.
Here Are Indices That Rise To Record High
NBCC's Unit Gets Order Worth Rs 411 Crore
NBCC (India) Ltd.'s arm HSCC (India) gets order worth Rs 411 crore for medical college & hospital in Maharashtra.
Source: Exchange filing
KFin Technologies Rises To Fresh High As Net Profit Meets Estimates
Shares of KFin Technologies Ltd. rose 7.52% to a fresh high of Rs 833.00, the highest level since its listing on Dec 29, 2022. It was trading 4.36% higher at Rs 809.00 as of 10:12 a.m., as compared to 0.27% advance in the NSE Nifty 50 index.
Bandhan Bank Hits Upper Circuit After Net Profit Rises
Shares of Bandhan Bank Ltd. hit a 10% upper circuit on Monday as the company reported over 47% growth in net profit.
Shares of Bandhan Bank Ltd. hit a 10% upper circuit, and rose to Rs 211.75, the highest level since July 4. It remained locked in the upper circuit as of 09:46 a.m., compared to 0.30% advance in the NSE Nifty 50 index.
The scrip declined 5.21% in 12 months, and 12.28% on year to date basis. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 61.98.
Out of 26 analysts tracking the company, 12 maintain a 'buy' rating, eight recommend a 'hold,' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 1.1%.
Nuvama Wealth Management Jumps To Fresh High As Net Profit Rise Nearly 80%
Shares of Nuvama Wealth Management Ltd. rose to the fresh high on Monday morning as the company reported 79.5% annual growth in net profit.
Broader Markets At Fresh Highs
Nifty, Sensex Open At Fresh High As ICICI Bank, Infosys Lead: Opening Bell
Indian benchmark indices opened at fresh high on Monday tracking gains in shares of ICICI Bank Ltd., Infosys Ltd.
As of 09:22 a.m., the NSE Nifty 50 was 104.95 points or 0.42% higher at 24,939.80, and the S&P BSE Sensex was 387.58 points or 0.48% higher at 81,720.30.
"On the higher side the momentum can get extend to 25,100- 25,300 levels over the next few days which is the pivot resistance. RSI is moving higher above the average line and other key technical indicators are positive from current levels. Highest call OI is at 25,000 strikes while the downside the highest put OI moved higher to 24,500 for the weekly expiry," said Vikas Jain, head, research, Reliance Securities.
ICICI Bank Ltd., Infosys Ltd., State Bank of India, NTPC Ltd., and Reliance Industries Ltd. added to the benchmark index.
Bharti Airtel Ltd., HDFC Bank Ltd., ITC Ltd., Dr. Reddy's Laboratories Ltd., and Titan Co. weighed on the benchmark index.
On NSE, 11 sectors advanced, one declined out of 12. The NSE Nifty PSU Bank rose the most, and the NSE Nifty FMCG index declined the most.
Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap indices were trading 0.58% and 1.12% higher, respectively.
On BSE, 18 sectors advanced, and two declined out of 20. The S&P BSE Oil and Gas rose the most, and the S&P BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 2,388 stocks advanced, 854 stocks declined, and 118 stocks remained unchanged on BSE.
Dr Reddy's Gets European Medicine Agency's Approval For A Biosimilar
Dr Reddy's Laboratories Ltd. has received a positive CHMP opinion from European Medicines Agency for proposed Rituximab biosimilar
Alert: CHMP stands for Committee for Medicinal Products for Human Use
Source: Exchange filing
Nifty, Sensex Higher At Pre-Open
The NSE Nifty 50 index was trading 108.45 points or 0.44% higher at 24,943.30, and the S&P BSE Sensex was trading 0.43% or 346.93 points higher at 81,679.65.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.94%.
It closed at 6.94% on Friday.
Source: Cogencis
Rupee Strengthens Against US Dollar
The local currency strengthened by 2 paise to open at 83.70 against the US dollar.
It closed at 83.72 on Friday.
Source: Bloomberg
Motilal Oswal On Kaynes Technologies
Motilal Oswal maintained a 'Buy' with a target price Rs 5,000, which implied an upside of 18%.
An all-round performance; earnings beat on all fronts
Revenue jumped 70% YoY, led by strong traction in Industrials & Auto
Order book as of Jun’24 witnessed strong growth of 68% YoY
Gross margins declined 350bp YoY due to an unfavorable business mix;
However, favorable operating leverage majorly offset the margin contraction
Expects revenue to grow 60%,EBITDA at 15% in FY25
Increase our EPS estimates for FY25/FY26 by ~8%/10%
Estimate CAGR of 62%/71%/78% in revenue/EBITDA/Adj. PAT over FY24- FY26
Global Cues
U.S. Dollar Index at 104.20
U.S. 10-year bond yield at 4.17%
Brent crude up 0.11% at $81.22 per barrel
Nymex crude flat at $77.16 per barrel
Bitcoin was up 1.99% at $69,359.18
The GIFT Nifty was trading 0.37% or 92.50 points higher at 25059.50 as of 08: 50 a.m.
Money Market Update
The Indian rupee closed at a record low on Friday due to rising oil prices and month-end dollar demand from importers.
The local currency weakened 3 paise to a record closing low of Rs 83.72 per dollar. It opened at Rs 83.72 against the greenback, according to Bloomberg. It had closed at Rs 83.70 on Thursday.
F&O Cues
Nifty August futures up 1.88% to 24,915.45 at a premium of 80.6 points.
Nifty August futures open interest up 9.54%.
Nifty Bank July futures up 0.75% to 51,299.1 at a discount of 3.15 points.
Nifty Bank July futures open interest down 4.19%.
Nifty Options Aug. 1 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 21,750.
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
Bulk Deals
Sobha: Anamudi Real Estates LLP sold 47.37 lakh shares (4.99%) at Rs 1,810.44 apiece. On the other hand, Aditya Birla Sun Life Mutual Fund bought 12.32 lakh shares (1.29%) at Rs 1,809.82 apiece, Mirae Asset Mutual Fund bought 5.79 lakh shares (0.61%) at Rs 1,810.05 apiece and Invesco Mutual Fund bought 4.97 lakh shares (0.52%) at Rs 1,810.05 apiece.
Parag Milk & Foods: Sixth Sense India Opportunities 11 sold 17.86 lakh shares (1.49%) at Rs 199 apiece and North Star Opportunities Fund Vcc-Bull Value Incorporated Vcc Sub-Fund bought 17.65 lakh shares (1.47%) at Rs 199 apiece.
Cigniti Technologies: ICICI Prudential Mutual Fund A/C—ICICI Prudential Technology Fund bought 2.25 lakh shares (0.82%) at Rs 1,364.92 apiece.
Eraaya Lifespaces: Sneha Garg sold 1.61 lakh shares (1.06%) at Rs 798.12 apiece and Vishal Jai Kumar Garg sold 0.97 lakh shares (0.64%) at Rs 799.47 apiece.
DCW: Winro Commercial India bought 29.1 lakh shares (0.98%) at Rs 60.01 apiece.
Route Mobile: Proximus Opal sold 12.24 lakh shares (1.94%) at Rs 1,656.6 apiece and Societe Generale bought 3.39 lakh shares (0.53%) at Rs 1,652.2 apiece.
Trading Tweaks
Price band change from 20% to 10%: PG Electroplast, Antony Waste Handling Cell.
Ex/record Dividend: Deepak Nitrite, DB Corp, Automotive Axles, Birla Corp., Orient Cement, Info Edge (India).
Ex/record AGM: Deepak Nitrite, Automotive Axles, Subex, Indian Energy Exchange, Birla Corp., IIFL Securities.
Moved in short-term Framework: Navkar Corp.
Moved out short-term Framework: JK Paper, Servotech Power Systems.
Stocks To Watch
Godrej Properties: The Chandigarh estate officer has revoked the building plans and occupancy certificate of the company’s commercial building due to alleged violations of environmental clearance conditions.
KEC International: The company approved the transfer of the cable business on a going-concern basis to its subsidiary. The company approved raising up to Rs 4,500 crore via QIPs and Rs 1,500 crore via NCDs on a private-placement basis.
BHEL: The company received an order worth Rs 10,000 crore from Damodar Valley Corp. for setting up a 2x800 MW thermal power station at Koderma, Jharkhand.
City Union Bank: The company approved raising up to Rs 500 crore via QIP.
Cholamandalam Investment and Finance Co.: The company appointed Ravindra Kumar Kundu as managing director effective Oct. 7.
Karnataka Bank: The company partnered with ICICI Lombard General Insurance to offer health insurance, motor insurance, travel insurance, and home insurance to enhance customer benefits.
Glenmark Life Sciences: The Gujarat Pollution Control Board issued a closure notice to the company’s Ankleshwar facility.
Maruti Suzuki: The company received a final assessment order with an income tax demand of Rs 779 crore and received a show cause notice for the initiation of penalty proceedings.
Earnings in Focus
ACC, Adani Wilmar, Bharat Electronics, CSB Bank, Hindustan Petroleum Corp., Jindal Saw, Kansai Nerolac Paints, KEI Industries, Maharastra Seamless, Voltamp Transformers, Wonderla Holidays, Ajanta Pharma, Carborundum Universal, Castrol India, Exide Industries, Firstsource Solutions, Granules India, Indus Towers, Indian Oil Corp., Johnson Controls-Hitachi Air Conditioning India, Navin Fluorine International, and Star Health and Allied Insurance Co.
Earnings Post Market Hours
Indusind Bank Q1 FY25 (Consolidated, YoY)
NII up 11% at Rs 5,408 crore versus Rs 4,867 crore.
Net profit up 2% at Rs 2,171 crore versus Rs 2,125 crore (Bloomberg estimate Rs 2,332 crore).
Gross NPA at 2.02% versus 1.92% (QoQ).
Net NPA at 0.6% versus 0.57% (QoQ).
InterGlobe Aviation Q1 FY25 (Consolidated, YoY)
Revenue up 17.3% at Rs 19,571 crore versus Rs 16,683 crore (Bloomberg estimate Rs 18,717 crore).
Ebitdar up 15.5% at Rs 5,840.8 crore versus Rs 5,053 crore.
Ebitdar margin down 44 bps at 29.8% versus 30.3%.
Net profit up 47.5% at Rs 1,063 crore versus Rs 721 crore (Bloomberg estimate Rs 2,503 crore).
Bandhan Bank Q1 FY25 (Consolidated, YoY)
NII up 21% at Rs 3,005 crore versus Rs 2,491 crore.
Gross NPA at 4.23% versus 3.84% (QoQ).
Net NPA at 1.15% versus 1.11% (QoQ).
Net profit up 47.5% at Rs 1,063 crore versus Rs 721 crore.
KEC International Q1 FY25 (Consolidated, YoY)
Revenue up 6.31% at Rs 4,512 crore versus Rs 4,244 crore (Bloomberg estimate Rs 4,463 crore).
Ebitda up 10.5% at Rs 270.51 crore versus Rs 244.79 crore (Bloomberg estimate Rs 282.5 crore).
Ebitda margin up 22 bps at 5.99% versus 5.76% (Bloomberg estimate 6.3%).
Net profit up 109.52% at Rs 88 crore versus Rs 42 crore (Bloomberg estimate Rs 70 crore).
Sanofi India Q2 FY25 (Consolidated, YoY)
Revenue down 9.9% at Rs 464 crore versus Rs 515 crore (Bloomberg estimate Rs 739 crore).
Ebitda down 4.9% at Rs 116 crore versus Rs 122 crore (Bloomberg estimate Rs 221.7 crore).
Ebitda margin at 24.9% versus 23.6% (Bloomberg estimate 30%).
Net profit down 16% at Rs 103 crore versus Rs 123 crore (Bloomberg estimate Rs 152.4 crore).
GMDC Q1 FY25 (Consolidated, YoY)
Revenue up 6.9% at Rs 818 crore versus Rs 766 crore.
Ebitda down 14.3% at Rs 211 crore versus Rs 247 crore.
Ebitda margin at 25.8% versus 32.2%.
Net profit down 15.6% at Rs 184 crore versus Rs 218 crore (Bloomberg estimate Rs 186.1 crore).
Intellect Design Arena Q1 FY25 (Consolidated, QoQ)
Revenue down 1.2% at Rs 606 crore versus Rs 614 crore (Bloomberg estimate Rs 632.5 crore).
EBIT down 16.8% at Rs 84 crore versus Rs 101 crore (Bloomberg estimate Rs 64.4 crore).
EBIT margin at 13.9% versus 16.5% (Bloomberg estimate 17.04%).
Net profit up 1.8% at Rs 75 crore versus Rs 73 crore (Bloomberg estimate Rs 97.3 crore).
Punjab & Sind Bank Q1 FY25 (Consolidated, YoY)
NII up 15% at Rs 850 crore versus Rs 738 crore.
Gross NPA at 4.72% versus 5.43% (QoQ).
Net NPA at 1.59% versus 1.63% (QoQ).
Net profit up 18.9% at Rs 182 crore versus Rs 153 crore.
KFIN Tech Q1 FY25 (Consolidated, YoY)
Revenue up 4% at Rs 238 crore versus Rs 228 crore.
EBIT down 5.7% at Rs 85 crore versus Rs 90 crore.
EBIT margin at 35.7% versus 39.4%.
Net profit down 8.6% at Rs 68 crore versus Rs 74 crore (Bloomberg estimate Rs 68 crore).
SBI Cards Q1 FY25 (YoY)
Total income up 10.8% at Rs 4,483 crore versus Rs 4,046 crore.
Net profit up 0.2% at Rs 594 crore versus Rs 593 crore.
Kaynes Tech Q1 FY25 (Consolidated, YoY)
Revenue up 69.6% at Rs 504 crore versus Rs 297 crore (Bloomberg estimate Rs 477 crore).
Ebitda up 66.2% at Rs 67 crore versus Rs 40 crore (Bloomberg estimate Rs 64.4 crore).
Ebitda margin at 13.3% versus 13.5% (Bloomberg estimate 13.5%).
Net profit up 104% at Rs 51 crore versus Rs 25 crore (Bloomberg estimate Rs 46.2 crore).
Power Grid Corp Q1 FY25 (Consolidated, YoY)
Revenue down 0.4% at Rs 11,006 crore versus Rs 11,048 crore (Bloomberg estimate Rs 11,778 crore).
Ebitda down 0.8% at Rs 9,602 crore versus Rs 9,683 crore (Bloomberg estimate Rs 10,183 crore).
Ebitda Margin at 87.2% versus 87.6% (Bloomberg estimate 86.5%).
Net profit up 3.5% at Rs 3,724 crore versus Rs 3,597 crore (Bloomberg estimate Rs 3,893 crore).
Laxmi Organics Q1 FY25 (Consolidated, YoY)
Revenue down 1.53% at Rs 718.1 crore versus Rs 729.2 crore (Bloomberg estimate Rs 771 crore).
Ebitda down 7.9% at Rs 71.1 crore versus Rs 77.2 crore (Bloomberg estimate Rs 78.2 crore).
Ebitda margin down 68 bps at 9.9% versus 10.58% (Bloomberg estimate 10%).
Net profit down 10.44% at Rs 34.3 crore versus Rs 38.3 crore (Bloomberg estimate Rs 40.4 crore).
Nuvama Wealth Management Q1 FY25 (Consolidated, YoY)
Total Income up 46.7% at Rs 953 crore versus Rs 649 crore.
Net profit up 79.5% at Rs 221 crore versus Rs 123 crore.
GIFT Nifty Trades Above 25,000
Markets in the Asia-Pacific region rebounded from a three-day decline on Monday as investors await policy decisions from several central banks, due to be published this week.
The US Federal Reserve and the Bank of Japan will take their decision regarding interest rates on Wednesday. The Bank of England will publish its monetary policy report on Thursday.
The Nikkei 225 was trading 993.10 points or 2.64% higher at 38,660.51, and the S&P ASX 200 was 69.10 points or 0.87% higher at 7,990.40 as of 06:50 a.m.
Wall Street continued its upward trend as riskier segments of the stock market received an additional boost on Friday. All major sectors in the S&P 500 saw gains, fueled by optimism that the Fed's potential easing cycle will enhance prospects for corporate America. Smaller companies notably outperformed the large tech giants once again, extending their July rally to roughly 10%.
The S&P 500 rose 1.11% and the Nasdaq Composite gained over 1.03% higher, respectively on Friday. The Dow Jones Industrial Average was up 1.64%.
Brent crude was trading 0.17% higher at $81.87 a barrel. Gold rose 0.44% to $2,397.77 an ounce.
The GIFT Nifty was trading 0.37% or 92.50 points higher at 25,059.50 as of 06:59 a.m.
India's benchmark equity indices snapped five consecutive days of fall to end at their highest closing levels on Friday. On a weekly basis, the Nifty recorded its best streak of weekly gains since eight weeks ended Jan. 22, 2018.
Both indices ended at their highest closing levels. The Nifty closed at 24,834.85, up 1.76% or 428.75 points, and the Sensex closed at 81,332.72, up 1.62% or 1,292.92 points.
Overseas investors turned net buyers on Friday after three days of selling. Foreign portfolio investors mopped up stocks worth Rs 2,546.4 crore, while domestic institutional investors remained net buyers for the fourth consecutive session and bought equities worth Rs 2,774.31 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened 2 paise to a record closing low of 83.72 against the US dollar.
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