Mahindra & Mahindra Ltd., Power Grid Corp. and SJVN Ltd. will be in focus on Monday after they announced important business updates.
Bharti Airtel Ltd., ONGC Ltd., Marico Ltd. and Tata Chemicals Ltd. will be among the major firms to report their first-quarter earnings. The markets are expected to react to the financial results of Britannia Industries Ltd., Titan Co. and Delhivery Ltd., among others, that were announced Friday after the closing bell.
The GIFT Nifty was trading 1.03% or 252.50 points lower at 24,375.50 as of 07:00 a.m.
India's benchmark equity indices reversed five consecutive sessions of gains to close lower on Friday, snapping a weekly gaining streak of eight weeks to end at their lowest closing since July 25.
The NSE Nifty 50 closed 293.20 points, or 1.17%, down at 24,717.70 and the S&P BSE Sensex ended 885.60 points, or 1.08%, lower at 80,981.
Overseas investors turned net sellers of Indian equities. Foreign portfolio investors offloaded equities worth Rs 3,310 crore, and domestic investors turned net buyers after one session of selling and mopped up equities worth Rs 2,965.9 crore, according to provisional data from the NSE.
Analysts anticipate that the Nifty may experience consolidation for a few days or weeks as the market adjusts to the current global environment. It recently hit the 25,000 mark but encountered a setback on Friday, closing at 24,717.70.
"Currently, most stocks and indices are close to important resistance levels, and we may see consolidation for a few days or weeks. This occurs whenever indices move too far from short-term averages," said Amol Athawale, VP, technical research at Kotak Securities Ltd.
Here Are The Top 10 Stocks To Watch On Monday
Mahindra & Mahindra: Subsidiary Classic Legends executed a JV agreement with Tube Investments of India in the ratio of 50:50 to use the BSA Marks in India for motorcycles, their parts, and accessories to be manufactured and sold by the subsidiary.
SJVN: The Cabinet Committee on Economic Affairs has approved the investment of Rs 5,792.36 crore for the 669 MW Lower Arun Hydro Electric Project in Nepal.
Mahindra & Mahindra Financial Services: The company reported overall disbursement at Rs 4,530 crore, up 3% year-on-year, Business assets at Rs 1.07 lakh crore, up 22% year-on-year, and Collection efficiency at 95% for the month of July.
Samvardhana Motherson International: The company will acquire Sojitz Corp's 34% stake in JV Motherson Auto Solutions for Rs 237 crore.
Power Grid Corporation Of India: The company emerged as a successful bidder for an inter-state transmission line in Rajasthan.
HEG: The board will consider a stock split on Aug. 13.
Power Mech Projects: The company received an order worth Rs 142 crore for the revival of Phase II of Meenakshi Energy in Nellore district, Andhra Pradesh.
Gland Pharma: USFDA conducted an unannounced inspection at the company’s facility for Good Manufacturing Practices between July 25 and Aug. 2 and concluded with three 483 observations.
Britannia Industries: The company has set Aug. 5 as the ex/record date for final dividend of Rs 73.5 per share.
Welspun Living: The company has set Aug. 5 as the ex/record date for buyback of shares
Q1 Results Today
Bharti Airtel, ONGC, Marico and Tata Chemicals, are among the companies set to report their first qusarter results today.
Other include Avanti Feeds, BEML, Bharti Hexacom, BLS International, Brigade Enterprises, Century Plyboards, Deepak Nitrite, Devani International, GSFC, HG Infra Engineering, Honeywell Automation, Motherson Sumi Wiring India, Orient Cement, Sandhur Maganese and Iron Ores, Schneider Electric Infrastructure, Syrma SGS Technology, Triveni Turbine, Vijaya Diagonistic Centre, V-Mart Retail, and VRL Logistics.
Results After Market Hours On Friday
Titan Q1 FY25 (Consolidated, YoY)
Revenue up 11.5% to Rs 13,266 crore versus Rs 11,897 crore (Bloomberg estimate: Rs. 12,642.7 crore).
Ebitda up 11% to Rs 1,247 crore versus Rs 1,125 crore (Bloomberg estimate: Rs 1,242 crore).
Margin at 9.4% versus 9.5% (Bloomberg estimate: 9.8%).
Net Profit down 5% to Rs 715 crore versus Rs 756 crore (Bloomberg estimate: Rs. 797.2 crore).
Britannia Industries Q1 FY25 Highlights (Consolidated, YoY)
Revenue rose 6% to Rs 4,250.3 crore versus Rs 4,010.7 crore (Bloomberg estimate: Rs 4,177.8 crore).
Ebitda rose 9% to Rs 753.66 crore versus Rs 688.88 crore (Bloomberg estimate: Rs 774.1 crore).
Margin stood at 17.7% versus 17.2% (Bloomberg estimate: 18.5%).
Net profit up 11% at Rs 505 crore versus Rs 455 crore (Bloomberg estimate Rs 527 crore)
Delhivery Q1 FY25 (Consolidated, QoQ)
Revenue up 5% at Rs 2,172 crore versus Rs 2,076 crore (Bloomberg estimate Rs 2,153 crore).
Ebitda up 112% at Rs 97 crore versus Rs 46 crore (Bloomberg estimate Rs 45 crore).
Ebitda margin at 4.5% versus 2.2% (Bloomberg estimate 2.1%).
Net profit at Rs 54 crore versus loss of Rs 68 crore (Bloomberg estimate net loss Rs 68 crore).
Medplus Health Services Q1 FY25 (Consolidated, YoY)
Revenue up15.96% at Rs 1489 crore versus Rs 1284 crore (Bloomberg estimate Rs 1,496 crore).
Ebitda up 32.76% at Rs 94 crore versus Rs 70.8 crore (Bloomberg estimate Rs 74 crore).
Ebitda margin up 79 bps at 6.31% versus 5.51% (Bloomberg estimate 4.9%).
Net profit up 257.5% at Rs 14.3 crore versus Rs 4 crore (Bloomberg estimate Rs 11 crore).
Archean Chemical Industries Q1 FY25 (Consolidated, YoY)
Revenue down 37.9% at Rs 213 crore versus Rs 343 crore (Bloomberg estimate Rs 336 crore).
Ebitda down 47% at Rs 71 crore versus Rs 134 crore (Bloomberg estimate Rs 102 crore).
Margin at 33.5% versus 39.2% (Bloomberg estimate 30.4%).
Net profit down 52.1% at Rs 45 crore versus Rs 94 crore (Bloomberg estimate Rs 71 crore).
Sheela Foam Q1 FY25 (Consolidated, YoY)
Revenue up 26% at Rs 810 crore versus Rs 645 crore.
Ebitda down 23% at Rs 60 crore versus Rs 78 crore.
Ebitda margin at 7.4% versus 12.1%.
Net profit up 9 % at Rs 47 crore versus Rs 43 crore.
LIC Housing Finance Q1 FY25 (Standalone, YoY)
Total income up 0.5% at Rs 6,784 crore versus Rs 6,747 crore.
Net profit down 1.8% at `Rs 1,300 crore versus Rs 1,324 crore (Bloomberg estimate Rs 1,235 crore).
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