KEY HIGHLIGHTS
Rupee Ends Flat Against US Dollar
Rupee closed flat at 83.96 against the US dollar.
It closed at 83.96 on Thursday.
Source: Bloomberg
Nifty, Sensex Register Second Consecutive Week Of Losses: Closing Bell
India's benchmark equity indices logged a second consecutive week of losses as various global and Indian macro economic cues including Yen's carry trade, US recession fears along with the RBI governor's hawkish commentary weighed on them.
However, the global market sentiment was uplifted on the last day amid ease of US recession fears after lower than expected jobless claims data for the week. The upward revision of Reserve Bank Of India's fiscal 2025 growth estimates also added to the positive sentiment on Friday.
The Nifty ended 1.03% or 247.65 points higher at 24364.65 and the Sensex ends 1.04% or 819.69 points higher at 79705.91. Intraday, the Nifty gained as much as 1.3% and the Sensex gained 1.4%.
According to Amol Athawale, vice president of technical Research at Kotak Securities, technically, the larger texture of the market is still in to the weak side. "However, as long as it (Nifty and Sensex) is trading above 24200/79200 the pullback formation is likely to continue up to 20 day SMA or 24525/80400."
He added that further upside may also continue which could lift the market till 24625/80800. "On the other side, dismissal of 24200/79200 could accelerate the selling pressure," he said.
Shares of Reliance Industries Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., State Bank Of India, and HDFC Bank Ltd. led the gains of the Nifty.
While those of HDFC Life Insurance Co. Ltd., Bharat Petroleum Corp. Ltd., Kotak Mahindra Bank Ltd., Maruti Suzuki Ltd., and Sun Pharmaceutical Industries Ltd. limited the gains.
Broader indices also ended higher. BSE Midcap was 1.2% higher and BSE Smallcap ended 0.79% up.
All 20 sectoral indices on the BSE ended higher BSE IT gained the most.
The market breadth was skewed in the favour of buyers. As many as 2,332 stocks rose, 1,571 fell, and 103 remained unchanged on the BSE.
Both the Nifty and Sensex fell over 1% this week.
Most sectoral indices ended lower. Nifty Media, Nifty FMCG, and Nifty Pharma were the only indices that rose.
Market At Close
Nifty, Sensex close lower in the second week
Nifty ends 1.03% or 247.65 points higher at 24364.65
Sensex ends 1.04% or 819.69 points higher at 79705.91
Broader indices also ended higher; Nifty Midcap 100 ended 0.88% up and Nifty Smallcap 250 gained 0.64%
All sectoral indices closed higher; Nifty Media was the top gainer
Eicher Motors and ONGC were top Nifty gainers
BPCL and HDFC Life were top losers among Nifty stocks
Berger Paints Q1 Earnings (Consol, YoY)
Net profit down 0.3% at Rs 354 crore vs Rs 355 crore
Revenue up 2% at Rs 3,091 crore vs Rs 3,030 crore
EBITDA down 6.2% at Rs 522 crore vs Rs 557 crore
Margin at 16.9% vs 18.4%
Cholamandalam Financial Q1 Earnings (Consol, YoY)
Net profit up 46.4% at Rs 1,160 crore vs Rs 792 crore
Revenue up 35.7% at Rs 7,633 crore vs Rs 5,626 crore
EBITDA up 44% at Rs 4,380 crore vs Rs 3,041 crore
Margin at 57.4% vs 54.1%
Electronics Mart Q1 Earnings (Consolidated, YoY)
Net profit up 20.2% at Rs 72.4 crore vs Rs 60.2 crore
Revenue up 17.3% at Rs 1,975 crore vs Rs 1,684 crore
EBITDA [GU] 18.4% at Rs 154 crore vs Rs 130 crore
Margin at 7.8% vs 7.7%
IRB Infra Q1 Earnings (Consolidated, YoY)
Net profit up 4.6% at Rs 140 crore vs Rs 134 crore
Revenue up 13.4% at Rs 1,853 crore vs Rs 1,634 crore
EBITDA up 10.2% at Rs 857 crore vs Rs 778 crore
Margin at 46.2% vs 47.6%
Grasim Industries Q1 Earnings (Consolidated, YoY)
Revenue up 9% at Rs 33,861 crore vs Rs 31,065 crore
EBITDA up 5.5% at Rs 6,704 crore vs Rs 6,357 crore
Margin at 19.8% vs 20.5%
Net profit down 12% at Rs 2,268 crore vs Rs 2,576 crore
Info Edge Q1 Earnings (Consolidated, YoY)
Net profit is up 47.5% to Rs 233 crore vs Rs 158 crore
Revenue up 8.1% at Rs 677 crore vs Rs 626 crore
EBITDA up 10.3% at Rs 223 crore vs Rs 203 crore
Margin at 33% vs 32.4%
Alkem Labs Q1 Earnings (Consolidated, YoY)
Revenue up 2.2% at Rs 3,032 crore vs Rs 2,968 crore
EBITDA up 56.4% at Rs 609 crore vs Rs 389 crore
Margin at 20.1% vs 13.1%
Net profit up 91.2% at Rs 550 crore vs Rs 288 crore
Nifty, Sensex Trade Near 1% High Led By RIL, HDFC Bank, ICICI Bank: Midday Market Update
India's key stock indices rose 1% through midday on Friday due to a global market rally and the Reserve Bank of India's upward revision of its fiscal 2025 growth estimates. Index heavyweights Reliance Industries Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. made gains that supported the indices.
At 12:47 p.m., the Nifty was trading 0.98%, or 236.60 points, higher at 24,353.60, and the Sensex gained 0.99%, or 784.56 points, to trade at 79,670.78.
"The rally in global markets, strong quarterly results, and the RBI's upward revision of the fiscal 2025 GDP growth target to 7.2% from 7% are expected to create a positive sentiment in the market," said Vikas Jain, head of research at Reliance Securities. "Investors may find good buying opportunities in sectors such as pharma, IT, FMCG, oil companies, and auto, which have reported strong quarterly results," he said.
Shares of Reliance Industries Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., and Infosys Ltd contributed the most to the gains in the Nifty.
While those of Asian Paints Ltd., Bharat Petroleum Corp. Ltd., HDFC Life Insurance Co. Ltd., Hindustan Unilever Ltd., and IndusInd Bank Ltd. limited the gain in the index.
All sectoral indices traded in the green led by Nifty Media, while Nifty FMCG rose the least.
The broader indices also rose, with the BSE Midcap and Smallcap rising 1.07% and 0.8%, respectively, through midday on Friday.
All sectoral indices on the BSE were in the green, led by BSE Realty.
The market breadth was skewed in the favour of the buyers. Around 2,386 stocks rose, 1,417 declined, and 124 remained unchanged on the BSE.
Inox India Q1 Earnings (Consolidated, YoY)
Revenue down 3.9% at Rs 296 crore vs Rs 309 crore
EBITDA down 1.9% at Rs 70.2 crore vs Rs 71.5 crore
Margin at 23.7% vs 23.2%
Net profit down 7.8% at Rs 52.6 crore vs Rs 57 crore
Kolte Patil Developers Q1 (Consolidated, YoY)
Net profit down 86.7% at Rs 6.4 crore vs Rs 47.9 crore
Revenue down 40.4% at Rs 341 crore vs Rs 571 crore
EBITDA down 69.5% at Rs 27.8 crore vs Rs 91.2 crore
Margin at 8.2% vs 16%
Zydus Life Q1 Earnings (Consol, YoY)
Revenue up 20.8% at Rs 6,208 crore vs Rs 5,140 crore
EBITDA up 37.6% at Rs2,109 crore vs Rs 1,533 crore
Margin at 34% vs 29.8%
Net profit up 30.6% at Rs 1,420 crore vs Rs 1,087 crore
Trent Hits Life High After Q1 Earnings
Trent Q1 Earnings (Consol, YoY)
Revenue up 56.2% at Rs 4,104 crore vs Rs 2,628 crore
EBITDA up 66.8% at Rs 613 crore vs Rs 367 crore
Margin at 14.9% vs 14%
Net profit at Rs 391 crore vs Rs 167 crore
ABB India Gains After Q2 Profit Jumps 50%
Shares of ABB India Ltd. gained on Friday after its profit surged nearly 50% in the second quarter of calendar year 2024.
The company's net profit jumped 49.66% year-on-year to Rs 443 crore for the quarter ended June 2024, according to an exchange filing. During the same period, revenue rose 12.83% to Rs 2831 crore. The company follows January-December financial reporting period.
Concord Biotech Q1 Earnings (Consolidated, YoY)
Revenue up 10.8% at Rs 216 crore vs Rs 195 crore
EBITDA up 12.7% at Rs 81.3 crore vs Rs 72.1 crore
Margin at 37.7% vs 37%
Net profit up 9.4% at Rs 59.6 crore vs Rs 54.5 crore
Prism Johnson Q1 Earnings (Consolidated, YoY)
Net loss of Rs 8.3 crore vs profit of Rs 20.8 crore
Revenue down 9.2% at Rs 1,763 crore vs Rs 1,942 crore
EBITDA down 12.8% at Rs 132 crore vs Rs 152 crore
Margin at 7.5% vs 7.8%
Zydus Life Gets US FDA Approval For Valbenazine Capsules
Valbenazine Capsules are indicated for the treatment of adults with tardive dyskinesia or uncontrollable movement of the face, tongue, or other body parts.
Source: Exchange Filing
Ola Electric Hits Upper Circuit Post Listing
Shares of Ola Electric Mobility Ltd. listed flat on the National Stock Exchange on Friday at the issue price of Rs 76 per share. On the BSE, the stock debuted at Rs 75.99 per share, marking a discount of 0.01%.
Post listing, the stock surged to hit its upper circuit limit of 20% but pared gains to trade 19.2% higher than its issue price at Rs 90.59.
Bikaji Foods Hits Record High, Shares Climb Over 11% In Past Four Days
Bikaji Foods International Ltd.'s shares extended the record-breaking streak on Friday after rising by over 11% in the past four sessions.
The company's net profit rose 40.3% year-on-year to Rs 58 crore in the quarter ended June, according to an exchange filing. Revenue surged 18.7% to Rs 572 crore.
LIC Shares Rise 3% After Q1 Results Announcement
Shares of Life Insurance Corp. of India rose after its first quarter net profit rose. The country's largest insurer saw its net profit rise 9% year-on-year to Rs 10,544 crore in the quarter-ended June 30, 2024, according to an exchange filing. Its net premium income soared by 16% to Rs 1.14 lakh crore.
Granules India Gets US FDA Approval For Trazodone Tablets
Gets US FDA approval for ANDA of Trazodone Hydrochloride Tablets
Trazodone tablets are indicated for treatment of major depressive disorder in adults
Source: Exchange Filing
India Cements Q1 Earnings (Consolidated, YoY)
Revenue down 28.5% at Rs 1,027 crore vs Rs 1,437 crore
EBITDA loss at Rs 24.7 crore vs EBITDA of Rs 8.3 crore
Net profit at Rs 58.5 crore vs loss of Rs 87.4 crore
Exceptional credit of Rs 241 crore in Q1
AMFI Data July (Month-On-Month)
July MF industry net inflow at Rs 1.89 lakh crore vs net outflows at Rs 43,636 crore in June
Net AUM of MF industry at Rs 64.9 lakh crore vs Rs 61.2 lakh crore
Active equity funds see net inflow of Rs 37,113 crore vs inflow of Rs 40,608 crore
Mid cap funds see net inflow of Rs 1,644 crore vs net inflow of Rs 2,528 crore
Small cap funds see net inflow of Rs 2,109 crore vs net inflow of Rs 2,263 crore
Large cap funds see net inflow of Rs 670 crore vs net inflow of Rs 970 crore
Flexi cap funds see net inflow of Rs 3,053 crore vs net inflow of Rs 3,059 crore
Sectoral/thematic funds see inflows of Rs 18,386 crore vs inflows of Rs 22,351 crore
Inflow on account of equity NFO at Rs 16,565 crore vs Rs 14,370 crore
Bayer CropScience Hits One-Month Low As Q1 Result Misses Estimates
Bayer CropScience Ltd. fell to its lowest level in over a month and was the worst performing stock in the Nifty 500 after it had reported lower than expected revenue and net profit in the quarter ended June.
NBCC Jumps Over 7% On Rs 15,000 Crore- Order Win
Gets work order worth Rs 15,000 crore for development of satellite township in Srinagar
Source: Exchange Filing
CDSL Hits Lifetime High
Adani Power Promoter Group Raises Stake In Company
Promoter Group cos raises stake in co to 73.19% from 71.14%
Promoter Group acquires 2.05% stake in co between Nov-Aug
Source: Exchange Filing
Ola Electric IPO Lists Flat On NSE
Shares of Ola Electric Mobility Ltd. listed flat on the National Stock Exchange on Friday at the issue price of Rs 76 per share. On the BSE, the stock debuted at Rs 75.99 per share, marking a discount of 0.01%.
Neogen Chemicals Jump Over 6% After Q1 Results
Post earnings conference call highlights
The company targets to reach at least 2,000 metric ton capacity in FY '26.
The company aims to maintain upwards of 15% of revenue from CSM business and targets to reach 20% of revenue in CSM business.
The company targets reaching Rs 1,000 crores by FY '26 and expects 15% revenue growth in FY 27 through de-bottlenecking and optimization of product mix and capacity utilization.
No significant organic Capex is expected in FY '25 and FY '26, with consideration for organic Capex in FY '27 for growth in FY '28 and '29.
The company targets a ROCE of 20% and EBITDA margins of 16-17% in the salts business with current contracts on track to achieve these targets.
Biocon Shares Erase Opening Gains Even As Q1 Net Profit Jumps 551% YoY
Shares of Biocon Ltd. erased their opening gains and fell even after reporting a massive 551% jump in its net profit for the quarter ended June as the it was driven by a rise in other income.
Cochin Shipyard Up Nearly 8% As Q1 Net Profit Jumps 75.7%
Cochin Shipyard Ltd shares surged 8% on Friday following the company's announcement of a 75.7% year-on-year jump in net profit for the first quarter of this fiscal year.
Eicher Motors Top Nifty Gainer After Q1 Results
Shares of Eicher Motor Ltd. rose after reporting a 19.93% rise in its net profit, beating analysts' estimates.
The company posted a 19.93% rise in profit to Rs 1101 crore year-on-year for the three months ended June as compared to Rs 918 crore for the same period last year, according to an exchange filing.
JSW Steel July Production
July consolidated crude steel production at 22.15 lakh tonnes
Total crude steel production up 9% YoY
July capacity utilisation at Indian operations at 91%
Source: Exchange Filing
Nifty, Sensex Open Nearly 1% Higher As Infosys, ICICI Bank, HDFC Bank Lead Gains: Opening Bell
Benchmark equity indices opened nearly 1% higher with almost all constituents of the Sensex trading higher and only two stocks of the Nifty 50 trading with losses.
At pre-open, the Nifty was at 24,386.85, up by 1.12% or 269.85 points and the Sensex rose 1.40% or 1,104.27 points at 79,990.49.
According to a report by SBI Securities, currently, 23970-23950 will act as an important support for the Nifty and till 23950 holds, "we can see index move towards 24380-24400," it said.
The brokerage added that a surge above 24400, can take index towards 24630-24650 zone. "On breakdown & sustenance below 23950, further correction up to 23770-23750 will be on the cards," it said.
Shares of Infosys Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., HDFC Bank Ltd., and Reliance Industries Ltd. led the gains of the Nifty.
While those of Bharat Petroleum Corp. Ltd. and HDFC Life Insurance Co. Ltd were the only stocks that weighed on the index.
All sectoral indices were higher at open with Nifty IT leading and Nifty FMCG rose the least.
BSE Midcap and BSE Smallcap were up 0.9% each.
The market breadth was skewed in the favour of buyers. As many as 2,322 stocks rose, 525 declined, and 102 remained unchanged on the BSE.
Nifty, Sensex Up Over 1% At Pre-Open
At pre-open, the Nifty was at 24,386.85, up by 1.12% or 269.85 points and the Sensex rose 1.40% or 1,104.27 points at 79,990.49.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.88%.
It closed at 6.88% on Thursday.
Source: Bloomberg
Morgan Stanley On Dr. Lal PathLabs
Retains 'overweight', hikes target to Rs 3,577 vs Rs 2,705 earlier, upside 12%
Moderating competition and industry re-rating aids the view
Superior profile versus its peers and strong execution track record
Revise our FY25/26 earning per share by +0.3%/ +1.8%
Revise target multiple to 55 times June 2026 Earnings (44 times previously)
Rupee Strengthens Against US Dollar
Rupee strengthened by 2 paise to open at 83.94 against the US dollar.
It closed at 83.96 on Thursday.
Source: Bloomberg
Brokerages On MPC
HSBC
Reduced growth forecast calls out for weaker corporate earnings and lower government spending
Hawkishness in tone was because of high food inflation
Believes that either Deposit growth should rise or credit growth should stabilize
Expects RBI rate cut in October and January quarters
Jefferies
Surplus liquidity in the system is temporary
This will be absorbed through reverse repo by RBI
Growth in unsecured lending has moderated, still at high levels
Tightening can lead to slower growth for banks/NBFCs
May impact topline in the near term
JP Morgan
General tone and tenor was cautious
RBI has reduced its 2Q GDP forecast to 7.1%, showing slowdown of corporate earnings
Expect 2Q GDP below 7%
Unsecured lending gradually slowing through credit card growth
Expect first cut in the October review
Emkay on Bharat Forge
Retain Buy with 1850 vs 1650 earlier, Upside 15%
Healthy profitability; a generally positive outlook all around
Operating profit improvement led by subsidiaries
Order win momentum sustained in Q1 Rs. 980 crores
Led by Defence with orderbook at Rs. 5400 cr vs Rs. 5200 cr in Q4
Expect domestic CVs to enter an upcycle from FY26E
Pre-buy from CY25 may aid the US Class 8 market
Citi On Eicher Motors
Retains Buy with a lower target of 5250 vs 5300 earlier implying upside of 14%
1QFY25 Results Slightly Above Estimates; outlook Is Positive
Better product mix driving up margin
Product launches, Ramp-up of Guerrilla 450 & new dealer-inventory policy should boost volumes going ahead
Exports outlook is cautiously optimistic
But trim earnings estimate given tempered-down volume estimates
Cuts Royal Enfield bike volume estimates by 4-6% over FY25-27E
Increase VECV margin estimates and target EV/EBITDA multiple
Nuvama On Indian Cement Industry Pricing
Maintains neutral stance on the cement sector, with JK Cement as top pick
Jul'24 saw a steady decline in cement prices across regions
Weak pricing due to poor demand on account of monsoons, delayed budget
Prices remain stable in the first week of August
Firms passing cost saving benefits to customers due to a high competitive intensity
Believe cement pricing will remain tepid till demand picks up in Q3FY25
Nomura on Apollo Tyres
Retains 'Neutral' with target price Rs 496 from 512 earlier, implying downside 3%
Margin headwinds from rising commodity prices
RM/sales jumped 250 bps qoq led by Natural rubber prices
Expects mid-single-digit RM basket increase in 2Q
Company strategy to maintain profitability over market share might be negative for long term
EPS cut of 14%/4% for FY25/26
Lower FY26 EV/EBITDA to 6.5 times from 7 times earlier
China Economic Data
China July producer prices fall 0.8% YoY vs estimate of 0.9% decline
China July consumer prices rise 0.5% YoY vs estimate of 0.3% rise
Source: Bloomberg
Nomura On Gujarat Gas
Maintains 'reduce' at Rs 470 target, implying 27% downside
Q1 results below brokerage estimates on lower-than-anticipated margins
Management cuts FY25 volume growth guidance to 6-7% vs 10% earlier
Volumes in Morbi region to be impacted in Q2FY25 on ceramic plant shut downs
Lower target price due to concerns surrounding volume recovery in key Morbi region
Heavy Industries Ministry Approves Greaves Cotton Arm To Get EV Models Tested
Ministry of Heavy Industries approves arm to get EV models tested for Electric Mobility Promotion Scheme 2024
Arm to be eligible for incentives under various schemes of Ministry of Heavy Industries
Source: Exchange Filing
Global Cues
U.S. Dollar Index at 103.22
U.S. 10-year bond yield at 3.97%
Brent crude flat at $79.19 per barrel
Nymex crude flat at $76.24 per barrel
GIFT Nifty flat at 24,389.50 as of 7:27 a.m.
Bitcoin was up 3.19% at $61,437.77
F&O Cues
Nifty August futures down by 1.01% to 24,136 at a premium of 19 points.
Nifty August futures open interest down by 1.01%.
Nifty Bank August futures down by 0.3% to 50,205 at a premium of 49 points.
Nifty Bank August futures open interest down by 0.4%.
Nifty Options Aug. 8 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 23,000.
Bank Nifty Options Aug. 14 Expiry: Maximum Call Open Interest at 60,000 and Maximum Put open interest at 50,000.
Securities in ban period: Aditya Birla Capital, Aditya Birla Fashion, Birlasoft, GNFC, Hindustan copper, India Cements, India Mart Intermesh, LIC Housing Finance, Manappuram, PNB, RBL Bank.
Money Market
The Indian rupee closed flat after weakening to a record low of Rs 83.99 against the dollar. It opened flat on Thursday, ahead of the release of the Reserve Bank of India policy statement.
The local currency ended flat at Rs. 83.96, having depreciated from the opening of Rs 83.94 against the greenback. The Indian unit had closed at Rs 83.95 on Wednesday.
Trading Tweaks
Ex/record Dividend: KEC International, Kolte - Patil Developers, KPIT Technologies, Mangalore Refinery and Petrochemicals, Netweb Technologies, Kalyan Jewellers India, Arvind Fashions, The Jammu & Kashmir Bank, Taj GVK Hotels & Resorts, JK Lakshmi Cement, Hindalco Industries, CEAT, Equitas Small Finance Bank, Endurance Technologies, The Ramco Cements, Tega Industries, Varun Beverages, Wonderla Holidays, Bombay Burmah Trading Corporation, Bharat Petroleum Corporation, City Union Bank, ASK Automotive, Alkem Laboratories, Bharat Heavy Electricals.
Ex/record AGM: Kalyan Jewellers India, The Jammu & Kashmir Bank, Taj GVK Hotels & Resorts, JK Lakshmi Cement, Hindalco Industries, CEAT, Hindustan Petroleum Corp, The Ramco Cements, Netweb Technologies India.
Ex/record Buyback: Indus Tower.
Ex/record Bonus Issue: Sakuma Exports.
Moved out short-term Framework: Nuvama Wealth Management, NRB Industrial Bearings.
Moved in short-term Framework: Symphony.
Insider Trades
Adani Power: Promoter Hibiscus Trade and Investment Ltd. bought 31 lakh shares on Aug. 8.
Sapphire Foods: Promoter Arinjaya (Mauritius) Ltd sold 23.91 lakh shares on Aug. 8.
Bulk Deals
Protean Egov Technologies: Standard Chartered Bank sold 12.5 lakh shares (3.09%) at Rs 1799.79 apiece.
Apollo Micro Systems: Nexpact sold 16 lakh shares (0.52%) at Rs 111.95 apiece.
TCNS Clothing Co: TA FDI Investors sold 15.04 lakh shares (2.37%) at Rs 561.93 apiece, Khazana Tradelinks Private Limited bought 5 lakh shares (0.79%) at Rs 560 apiece, and Flowers Valley Pvt Ltd bought 6 lakh shares (0.94%) at Rs 559.88 apiece.
Block Deals
DCW: Albula Investment Fund Ltd bought 24.64 lakh shares (0.83%) at Rs 71.35 apiece, and LTS Investment Fund Ltd sold 24.64 lakh shares (0.83%) at Rs 71.35 apiece.
IPO Offering
Brainbees Solutions: The public issue was subscribed to 12.22 times on day 3. The bids were led by institutional investors (19.3 times), retail investors (2.31 times), reserved for employees (6.57 times), and non-institutional investors (4.68 times).
Unicommerce eSolutions: The public issue was subscribed to 168.39 times on day 3. The bids were led by institutional investors (138.75 times), retail investors (131.15 times), and non-institutional investors (252.48 times).
Listing Day
Ola Electric Mobility: The company's shares will debut on the stock exchanges on Friday at an issue price of Rs 76 apiece. The Rs 6,145.56-crore IPO was subscribed 4.27 times on its third and final day. Bids were led by institutional investors (5.31 times), retail investors (3.92 times), non-institutional investors (2.4 times), and reserved for employees (11.99 times).
Stocks To Watch On Aug. 9
Gail: The company and Rajasthan Rajya Vidyut Utpadan Nigam joined hands to optimise the operations of RRVUNL’s gas-based power plants in Rajasthan.
LIC: The company has partially resumed its operations in Bangladesh from today. The situation has not reached normalcy and may continue to hamper operations the company added.
Gateway Distriparks: Kartik Sundaram Aiyer was appointed CFO effective Aug. 8, 2024.
Wipro: The company announced a partnership with Cyble to enhance Cyble's enterprise cybersecurity risk management through AI-driven threat intelligence solutions.
Paramount Communications: The company approved raising funds up to Rs 400 crore via QIP or other means.
Earnings In Focus On Friday
Aarti Industries, Alkem Laboratories, Bajaj Consumer Care, Bharat Dynamics, Bengal & Assam Co, Berger Paints India, Cesc, Cholamandalam Financial Holdings, Concord Biotech, Electronics Mart India, Engineers India, General Insurance Corporation of India, Grasim Industries, Honasa Consumer, Inox India, Jubilant Foodworks, Kolte-Patil Developers, C.E. Info Systems, MMTC, Info Edge (India), Prism Johnson, Shipping Corporation of India, SJVN, Sun TV Network, Trent, and Zydus Lifesciences.
Earnings Post Market Hours
Astral Q1 FY25 (Consolidated, YoY)
Revenue up 7.9% at Rs 1,384 crore versus Rs 1,283 crore (Bloomberg estimate Rs 1,492 crore).
Ebitda up 7.5% at Rs 216 crore versus Rs 201 crore (Bloomberg estimate Rs 250 crore).
Margin at 15.6% versus 15.7% (Bloomberg estimate 16.8%).
Net profit flat at Rs 120 crore (Bloomberg estimate Rs 152 crore).
LIC Q1 FY25 (Consolidated, YoY)
Net premium income up 16% to Rs 1.14 lakh crore.
Net profit up 9% at Rs 10,544 crore.
Annualised premium equivalent grew 11% to Rs 21,180 crore versus Rs 19,137 crore.
Value of new business advanced 23.6% from Rs 1,302 crore to Rs 1,610 crore.
VNB margin advanced to 13.9% from 13.7%.
Eicher Motors Q1 FY25 (Consolidated, YoY)
Revenue up 10.21% at Rs 4,393 crore versus Rs 3,986 crore (Bloomberg estimate Rs 4,307 crore).
Ebitda up 14.2% at Rs 1165.38 crore versus Rs 1020.47 crore (Bloomberg estimate Rs 1,127 crore).
Ebitda margin up 92 bps at 26.52% versus 25.6% (Bloomberg estimate Rs 26.2%).
Net profit up 19.93% at Rs 1101 crore versus Rs 918 crore (Bloomberg estimate Rs 1,016 crore).
Cochin Shipyard Q1 FY25 (Consolidated, YoY)
Revenue up 62.07% at Rs 771 crore versus Rs 476 crore.
Ebitda up 124.64% at Rs 177 crore versus Rs 79 crore.
Ebitda margin up 640 bps at 23% versus 16.6%.
Net profit up 76.61% at Rs 174 crore versus Rs 99 crore.
ABB India Q2 CY24 (Consolidated, YoY)
Revenue up12.83% at Rs 2831 crore versus Rs 2509 crore.
Ebitda up 55.71% at Rs 542 crore versus Rs 348 crore.
Ebitda margin up 527 bps at 19.16% versus 13.88%.
Net profit up 49.66% at Rs 443 crore versus Rs 296 crore.
OIL India Q1 FY25 (Consolidated, QoQ)
Revenue down 8% at Rs 8,120 crore versus Rs 9,147 crore.
Ebitda down 4% at Rs 3,142 crore versus Rs 3,261 crore.
Ebitda margin at 38.7% versus 35.7%.
Net profit down 14% at Rs 2,016 crore versus Rs 2,333 crore.
Mayur Uniquoters Q1 FY25 (Consolidated, YoY)
Revenue up 6% at Rs 213 crore versus Rs 201 crore.
Ebitda up 19.6% at Rs 47.5 crore versus Rs 39.7 crore.
Margin at 22.3% versus 19.7%.
Net profit up 19.3% at Rs 37 crore versus Rs 31 crore.
Board approves buyback of 1.14% stake at Rs 800 per share.
Avalon Technologies (Cons, YoY)
Revenue down 15% at Rs 199 crore vs Rs 235 crore (Bloomberg estimate Rs 226 crore).
Ebitda down 73.1% at Rs 4.3 crore vs Rs 16 crore (Bloomberg estimate Rs 17 crore).
Margin at 2.1% vs 6.8% (Bloomberg estimate 7.4%).
Net loss at Rs 2.3 crore vs profit of Rs 7 crore (Bloomberg estimate Rs 7 crore).
Bayer Cropscience Q1 FY25 (Consolidated, YoY)
Revenue down 6.3% at Rs 1,631 crore versus Rs 1740 crore (Bloomberg estimate Rs 1,950 crore).
Ebitda down 26.1% at Rs 314 crore versus Rs 425 crore (Bloomberg estimate Rs 514 crore).
Margin at 19.2% versus 24.4% (Bloomberg estimate 26.4%).
Net profit down 22.8% at Rs 254 crore versus Rs 329 crore (Bloomberg estimate Rs 390 crore).
Biocon Q1 FY25 (Consolidated, YoY)
Revenue up 0.3% at Rs 3,433 crore versus Rs 3,423 crore (Bloomberg estimate Rs 3,950 crore).
Ebitda down 13.3% at Rs 620 crore versus Rs 715 crore (Bloomberg estimate Rs 891 crore).
Margin at 18.1% versus 20.9% (Bloomberg estimate 22.5%).
Net profit at Rs 861 crore versus Rs 149 crore (Bloomberg estimate Rs 169 crore).
Profit jumps on account of other income of Rs 1,135 crore versus Rs 94 crore in same period of the previous fiscal.
HBL Power Systems Q1 FY25 (Consolidated, YoY)
Revenue up 11.3% at Rs 520 crore versus Rs 467 crore.
Ebitda up 42.3% at Rs 111 crore versus Rs 78 crore.
Ebitda margin at 21.3% versus 16.7%.
Net profit up 53.8% at Rs 80 crore versus Rs 52 crore.
Sansera Engineering Q1 FY25 (Consolidated, YoY)
Revenue up 12.7% at Rs 744 crore versus Rs 660 crore (Bloomberg estimate Rs 764 crore).
Ebitda up 11.4% at Rs 127 crore versus Rs 114 crore (Bloomberg estimate Rs 129 crore).
Margin at 17.1% versus 17.3% (Bloomberg estimate 16.9%).
Net profit up 11% at Rs 50 crore versus Rs 45 crore (Bloomberg estimate Rs 51 crore).
New India Assurance Q1 FY25 (Consolidated, YoY)
Total income up 5.7% at Rs 9,865 crore versus Rs 9,332 crore.
Net profit down 12.4% at Rs 233 crore versus Rs 266 crore.
Gujarat State Petronet Q1 FY25 (Consolidated, QoQ)
Revenue up 15.1% at Rs 4,727 crore versus Rs 4,109 crore.
Ebitda up 15.4% at Rs 837 crore versus Rs 725 crore.
Margin at 17.7% versus 17.6%.
Net profit up 21.4% at Rs 527 crore versus Rs 434 crore.
SAIL Q1 FY25 (Consolidated, YoY)
Revenue down 1.5% to Rs 23,998 crore versus Rs 24,359.10 crore (Bloomberg estimate: Rs 26,361 crore).
Ebitda up 35% to Rs 2,220 crore versus Rs 1,649 crore (Estimate: Rs 2,453 crore).
Ebitda margin at 9.3% versus 6.8% (Estimate: 9.3%).
Net profit down 62% to Rs 81.78 crore versus Rs 212.48 crore (Estimate: Rs 744 crore).
Note: Exceptional loss of Rs 312 crore in current quarter mainly on the back of allowances payable to executive employees.
Concor Q1 FY25 (Consolidated, YoY)
Revenue up 9% at Rs 2,103 crore versus Rs 1,923 crore.
Ebitda up 11% at Rs 441 crore versus Rs 396 crore.
Ebitda margin at 20.9% versus 20.6%.
Net profit up 7% at Rs 260 crore versus Rs 242 crore.
Timken India (Cons, YoY)
Revenue up 16.1% at Rs 834 crore versus Rs 718 crore (Bloomberg estimate Rs 807 crore).
Ebitda up 40.4% at Rs 191 crore versus Rs 136 crore (Bloomberg estimate Rs 167 crore).
Margin at 22.9% versus 18.9% (Bloomberg estimate 20.7%).
Net profit up 6.7% at Rs 96 crore versus Rs 90 crore (Bloomberg estimate Rs 125 crore).
Galaxy Surfactants (Cons, YoY)
Revenue up 3.4% at Rs 974 crore versus Rs 942 crore (Bloomberg estimate Rs 956 crore).
Ebitda flat at Rs 124 crore (Bloomberg estimate Rs 110 crore).
Margin at 12.7% versus 13.5% (Bloomberg estimate 11.5%).
Net profit up 6.7% at Rs 80 crore versus Rs 75 crore (Bloomberg estimate Rs 68 crore).
VA Tech Wabag (Cons, YoY)
Revenue up 13.4% at Rs 627 crore versus Rs 553 crore.
Ebitda up 24.2% at Rs 82 crore versus Rs 66 crore.
Margin at 13.1% versus 11.9%.
Net profit up 10% at Rs 55 crore versus Rs 50 crore.
Healthcare Global Q1 FY25 (Cons, YoY)
Revenue up 14.1% at Rs 525 crore versus Rs 460 crore (Bloomberg estimate Rs 524 crore).
Ebitda up 23% at Rs 91 crore versus Rs 74 crore (Bloomberg estimate Rs 103 crore).
Margin at 17.3% versus 16.1% (Bloomberg estimate 19.6%).
Net profit at Rs 14 crore versus Rs 4 crore (Bloomberg estimate Rs 28 crore).
Ircon International Q1 FY25 (Consolidated, YoY)
Revenue down 17.3% at Rs 2,287 crore versus Rs 2,764 crore.
Ebitda down 2% at Rs 250 crore versus Rs 255 crore.
Margin at 10.9% versus 9.2%.
Net profit up 19.8% at Rs 224 crore versus Rs 187 crore.
Sandhar Technologies Q1 FY25 (Consolidated, YoY)
Revenue up 10.1% at Rs 913 crore versus Rs 829 crore (Bloomberg estimate Rs 927 crore).
Ebitda up 17.8% at Rs 86 crore versus Rs 73 crore.
Margin at 9.4% versus 8.8%.
Net profit up 31.8% at Rs 29 crore versus Rs 22 crore (Bloomberg estimate Rs 24 crore).
Sobha Q1 FY25 (Consolidated, YoY)
Revenue down 29.5% at Rs 640 crore versus Rs 908 crore (Bloomberg estimate Rs 927 crore).
Ebitda down 15.4% at Rs 55 crore versus Rs 65 crore (Bloomberg estimate Rs 101 crore).
Margin at 8.6% versus 7.1% (Bloomberg estimate 10.9%).
Net profit down 50% at Rs 6 crore versus Rs 12 crore (Bloomberg estimate Rs 33 crore).
JB Pharma Q1 FY25 (Consolidated, YoY)
Revenue up 12% at Rs 1,004 crore versus Rs 896 crore (Bloomberg estimate Rs 1,009 crore).
Ebitda up 21.6% at Rs 281 crore versus Rs 231 crore (Bloomberg estimate Rs 259 crore).
Margin at 28% versus 25.8 (Bloomberg estimate 25.6%).
Net profit up 24.6% at Rs 177 crore versus Rs 142 crore (Bloomberg estimate Rs 162 crore).
Global Health Q1 FY25 (Consolidated, YoY)
Revenue up 10.45% at Rs 861 crore versus Rs 779.5 crore (Bloomberg estimate Rs 831 crore).
Ebitda up 1.03% at Rs 186.3 crore versus Rs 184.4 crore (Bloomberg estimate Rs 202 crore).
Ebitda margin down 201 bps at 21.63% versus 23.65% (Bloomberg estimate 24.3%).
Net profit up 3.92% at Rs 106 crore versus Rs 102 crore (Bloomberg estimate Rs 126 crore).
Approved Rs 250 crore capex for constructing service apartments as part of Medanta Medicity campus.
Birla Corp Q1 FY25 (Consolidated, YoY)
Revenue down 9% at Rs 2,190 crore versus Rs 2,407 crore (Bloomberg estimate Rs 2,407 crore).
Ebitda down 12.8% at Rs 259 crore versus Rs 297 crore (Bloomberg estimate Rs 360 crore).
Margin at 11.8% versus 12.3% (Bloomberg estimate 15%).
Net profit down 45% at Rs 33 crore versus Rs 60 crore (Bloomberg estimate Rs 111 crore).
GIFT Nifty Trades Above 24,300
The August futures contract of the GIFT Nifty was flat at 24,356.00 as of 7 a.m.
Asian indices opened higher, tracking overnight gains in the US market. Japan's Nikkei rose the most by 1.56% as of 7:07 a.m. Australia's S&P ASX 200 and South Korea's Kospi were also up more than 1%.
US stocks made a strong recovery, and bonds declined after a recent US labour-market report eased concerns about a significant slowdown in the country.
All major sectors in the S&P 500 saw gains as it rose 1.95%, with the index on track for its largest increase since February. The Nasdaq 100 rose 1.95% and 2.27% as of 12:24 p.m., and the Dow Jones Industrial Average was up 1.21%.
Brent crude was trading flat at $78.14 a barrel as of 7:15 a.m. Gold fell 1.55% to $2,425.98 an ounce.
The Indian benchmark equity indices erased initial gains on Thursday after the RBI monetary policy committee maintained status quo and ended lower as Governor Shaktikanta Das' commentary was hawkish, while also tracking European markets and some Asian indices that closed with losses.
The NSE Nifty 50 ended 180.50 points or 0.74%, lower at 24,177 and the S&P BSE Sensex closed at 581.79 points or 0.73%, lower at 78,886.22.
Foreign portfolio investors remained net sellers for the fifth consecutive session on Thursday. FPIs offloaded equities worth Rs 2,626.73 crore, while domestic investors remained net buyers for the fifth consecutive session and mopped up equities worth Rs 577.3 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 83.96 against the US dollar.
RECOMMENDED FOR YOU
Stock Market Today: All You Need To Know Going Into Trade On Nov. 14
Nov 14, 2024
Stocks To Watch: Swiggy, Vodafone Idea, NBCC, BSE, Nykaa, Varun Beverages, Tata Chemicals
Nov 13, 2024
Stock Market Today: Sensex Extends Rally To Recoup More Than Half Of Last Week's Losses
Oct 29, 2024
Stock Market Today: All You Need To Know Going Into Trade On Oct. 29
Oct 29, 2024
POPULAR