Stock Market Today: Sensex, Nifty End At Record Closing Highs As HDFC Bank, Tata Motors Lead

-The rupee closed flat at 83.72 against the US dollar.

-The local currency fell to a record low of 83.74 during the day.

-It closed at 83.73 on Monday.

Source: Bloomberg

Benchmark equity indices recorded their highest close as they continued their gains for a third consecutive session on the back of gains in HDFC Bank, Tata Motors, and NTPC.

Both the indices closed at their highest levels. The Nifty 50 closed at 24857.30, up 0.09% or 21.20 points and the Sensex closed at 81455.40, up 0.12% or 99.56 points.

"Nifty 50 has made a DOJI candlestick pattern which indicates an indecisiveness between the bulls and bears." said Aditya Gaggar, director of Progressive Shares. "A psychological level of 25,000 will continue to act as a strong barrier while immediate support is placed at 24,800 followed by 24,660."

Shares of Tata Motors Ltd., HDFC Bank Ltd., NTPC Ltd., Power Grid Corp. Ltd., and Titan Co. Ltd. kept the index from falling.

While those of Reliance Industries Ltd., ITC Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., and Tata Consultancy Services Ltd. weighed.

Most sectoral indices were higher at close with Nifty Energy leading and Nifty FMCG was the top loser.

Market breadth was skewed in favour of buyers. Around 2,296 stocks advance, 1,597 stocks declined, and 130 stocks remained unchanged on BSE.

Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap indices were trading 0.27% and 0.88% higher, respectively.

On BSE, 16 sectors advanced, and four declined out of 20. The S&P BSE Utilities rose the most, while the S&P BSE FMCG declined the most.

• Net profit down 45.4% at Rs 2,643 crore vs Rs 4,838 crore

• Revenue down 1.8% at Rs 1.93 lakh crore vs Rs 1.97 lakh crore

• EBITDA down 60.5% at Rs 8,635 crore vs Rs 21,875 crore

• Margin down at 4.5% vs 11%

• Net profit up 68.7% at Rs 116 crore vs Rs 69 crore

• Revenue up 26.7% at Rs 1,885 crore vs Rs 1,486 crore

• EBITDA up 38% at Rs 249 crore vs Rs 181 crore

• Margin at 13.2% vs 12.1%

• Net profit down 2.5% at Rs 115 crore vs Rs 118 crore

• Revenue down 0.5% at Rs 1,197 crore vs Rs 1,203 crore

• EBITDA up 14.3% at Rs 194 crore vs Rs 169 crore

• Margin at 16.2% vs 14.1%

The NSE Nifty Oil & Gas index scaled a fresh high on Tuesday as Bharat Petroleum Petroleum Corp Ltd., and Hindustan Petroleum Corp. led gains. The sentiment for these stocks turned positive as the Petroleum and Natural Gas Regulatory Board revised tariff to transport petroleum via pipeline.

The new norm proposed one-time 17% tariff hike for PNGRB indexed legacy pipelines, and 3.4% annual escalation from next financial year.The norms will come into effect from Aug 1.

• Net profit rose 36.8% to Rs 276 crore vs Rs 202 crore

• Revenue rose 8.4% to Rs 3,612 crore vs Rs 3,333 crore

• Ebitda rose 18% to Rs 488 crore vs Rs 414 crore

• Margin at 13.5% vs 12.4%

India's benchmark stock indices extended gains through midday on Tuesday, led by a rally in heavyweights HDFC Bank Ltd. and Tata Motors Ltd.

At 12:26 p.m., the NSE Nifty 50 was 106.05 points or 0.45% higher at 24,945.30, and the S&P BSE Sensex gained 355.49 points or 0.45% to trade at 81.719.

The Nifty hit an intraday high of 24,956.70, and the S&P BSE Sensex touched the day's high of 81.733.37.

The elevated valuations continue to be a concern, particularly in the broader market, said VK Vijayakumar, chief investment strategist at Geojit Financial Services. "A healthy trend in the market now is that high-quality stocks with good earnings visibility are gaining strength on buying by institutions."

"Sustained capital flows into mutual funds and retail investor enthusiasm will keep the market resilient," he said.

• Revenue down 0.4% at Rs 2,309 crore vs Rs 2,318 crore

• EBITDA up 61.5% at Rs 348 crore vs Rs 215 crore

• Margin at 15.1% vs 9.3%

• Net profit up 75.5% at Rs 240 crore vs Rs 137 crore

• Net profit down 1.5% at Rs 221 crore vs Rs 224 crore

• Revenue up 4.5% at Rs 4,436 crore vs Rs 4,245 crore

• EBITDA up 8% at Rs 473 crore vs Rs 438 crore

• Margin at 10.7% vs 10.3%

• Revenue up 64% at Rs 141 crore  vs Rs 86 crore  

• EBITDA at Rs 22 crore vs Rs 5.5 crore  

• Margin at 15.3% vs 6.3%   

•  Net profit up 69.4% at Rs 23 crore  vs Rs 14 crore

• Revenue  up 9.8% at Rs 718 crore  vs Rs 654 crore    

• EBITDA  up 2.3% at Rs 124 crore  vs Rs 121 crore    

• Net profit  down 67.1% at Rs 8.2 crore  vs Rs 25 crore    

• Margin at 17.3% vs 18.6%   

Rupee weakens further to a fresh low of 83.745 against the US dollar.

Source: Cogencis

• SC upholds Madhya Pradesh HC order for awarding Rs 161 crore claim in favour of company's arm

• Madhya Pradesh HC ruled in favour of Daawat Food in Dec 2023 regarding fire incident at plant

Source: Exchange Filing

• Revenue up 6.5% at Rs 4,011 crore vs Rs 3,767 crore  

• EBITDA up 8.5% at Rs 376 crore vs Rs 346 crore   

• Margin at 9.4% vs 9.2%   

• Net profit up2.6% at Rs 203 crore vs Rs 197 crore  

• Revenue up 23% at Rs 2,417 crore vs Rs 1,966 crore

• EBITDA up 34.1% at Rs 719 crore vs Rs 536 crore

• Margin at 29.7% vs 27.3%

• Net profit up 38.2% at Rs 557 crore vs Rs 403 crore

• Net profit at Rs 135 crore vs Rs 48 crore

• Revenue up 19.7% at Rs 1,180 crore vs Rs 986 crore

• EBITDA up 89.5% at Rs 259 crore vs Rs 137 crore

• Margin at 22% vs 13.9%

• EBIT margin at 10.6% vs 10.9%

• EBIT up 4.4% at Rs 190 crore vs Rs 182 crore

• Revenue up 6.9% at Rs 1,784 crore vs Rs 1,669 crore

• Net profit up 1.3%at Rs 135 crore vs Rs 134 crore

• Raises FY25 revenue growth guidance to 11.5-13.5%

• Net profit up 26% at Rs 1,262 crore vs Rs 1,005 crore

• Revenue up 24% at Rs 7,197 crore vs Rs 5,811 crore

• EBITDA up 16.4% at Rs 1,991 crore vs Rs 1,711 crore

• Margin at 27.7% vs 29.4%

To consider share buyback on Aug 2

Source: Exchange filing

Shares of Tata Motors contributed around 191 points out of the 327.75-point rise in the Nifty Auto index.

• Will be a two-in-one mobile QR payment device and card payments

• Also launches customisable soundbox

Source: Exchange filing

Arm gets construction orders worth Rs 444 crore from Hindustan Steelworks Construction

Source: Exchange Filing

Shares of Quess Corp Ltd. jumped to the highest level in over two years on Tuesday as the company reported higher than expected net profit for the first quarter of the current financial year.

Signs three-year contract with Follett Higher Education for cloud-based IT infra

Source: Exchange Filing

Revolt Motors gets approval for EV subsidy from govt

Source: Exchange Filing

Shares of Wonderla Holidays Ltd. fell over 5% on Thursday after recording a lower-than-expected first-quarter results.

The company's net profit fell by 25.1% to Rs 63 crore in the quarter ended June as compared to Rs 84 crore for the same period last year, according to the exchange filing.

Power Grid Corp rose to the highest level since its listing on Tuesday Nuvama raised target price by 10% after the company guided for higher capital expenditure. The brokerage has retained 'Reduce' on the stock and raised the target price to Rs 236 from Rs 215.

Bharat Petroleum Corp. Ltd's stock jumped consecutively for the fifth session adding nearly 16% to its closing price on July 23. It hit a lifetime high of Rs 357.6.

The stock rose in the seventh consecutive session today and has gained 25% in this rally. On Tuesday, it hit a lifetime high of Rs 68.22.

As many as 1.92 crore shares or 0.1% stake in the company changed hands on the NSE in a large trade.

The rupee weakened 1 paise to a record low of 83.74 against the US dollar.

It closed at 83.73 on Monday.

Source: Bloomberg

Shares of Jindal Saw Ltd. jumped to the record high on Tuesday after the company reported over 70% bottom line growth for April-June.

Jindal Saw Ltd. rose 7.69% to Rs 648.00, the highest level since its listing on April 29. 2003. It was trading 7.15% higher at Rs 644.75 as of 09:44 a.m., as compared to 0.19% advance in the NSE Nifty 50 index.

It has risen 98.17% in 12 months, and 56.43% on year-to-date basis. Total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 76.92, which implied the stock is overbought.

Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 48%.

Shares of Colgate-Palmolive (India) Ltd. hit a life high after it reported a 13% increase in its revenue in the June quarter of the current fiscal. The company noted that it saw more demand from rural markets than urban during the quarter.

NTPC Q1 FY25 Results Key Highlights (Consolidated, YoY)

• Revenue up 12.6% at Rs 48,521 crore versus Rs 43,075 crore (Bloomberg estimate: Rs 46,055.52 crore).

• Net profit up 12.2% at Rs 5,506 crore versus Rs 4,907 crore (Bloomberg estimate: Rs 5,289.76 crore).

• Ebitda up 9% at Rs 14,017 crore versus Rs 12,855 crore (Bloomberg estimate: Rs 13,698.05 crore).

• Ebitda margin at 28.9% versus 29.8% (Bloomberg estimate: 29.7%)

Nuvama

• Maintains buy and raised target to Rs 3,745 (earlier Rs. 3,305)

• Started to gradually benefit from the likely rural recovery

• Anticipates balanced growth in FY25 versus pricing led in FY24

Citi Research

• Retains sell with target of Rs. 2850

• Estimate 6% volume growth for the overall company

• Believes that while there is opportunity for growth/consumption and Colgate India seems to be investing behind this

• Estimate moderation in margin expansion going ahead

Benchmark equity indices were muted at open after recording their highest closing in Monday's session as shares of L&T dragged but those of NTPC kept the indices from falling.

At pre-open, the NSE Nifty 50 was 0.01% higher at 24,839.40, and the S&P BSE Sensex was 0.01% lower at 81.349.28.

According to Shrikant Chouhan, head of equity research at Kotak Securities key supports for the Nifty are 24,700 and 24,750 levels and resistances are pegged at 24,950 and 25,000.

Shares of NTPC, Infosys Ltd., Hindustan Unilever Ltd., Power Grid Corp. Ltd., and State Bank Of India kept the Nifty from falling.

While losses in those of Larsen & Toubro Ltd., Reliance Industries Ltd., Hindalco Industries Ltd., Bharti Airtel Ltd., and UltraTech Cement Ltd. weighed on the Nifty.

Most sectoral indices were higher with Nifty Energy leading the gains. Nifty Metal was the worst hit.

Six out of 20 sectoral indices on the BSE fell and 14 rose. BSE Oil & Gas was the top gainer.

Market breadth was skewed in the favour of buyers. Around 1,970 stocks rose, 897 fell, and 121 remained unchanged on the BSE.

• Notice sent for copying data, breach of license agreement.

• MapMyIndia alleges Ola Maps used its data for its own products

• Co-mingling and reverse engineering of MapMyIndia's product was prohibited in license agreement

• MapMyIndia says Ola's assertion that Ola Maps has been developed solely through open data is factually incorrect

Source: Copy of notice seen by NDTV Profit

At pre-open, the NSE Nifty 50 was 0.01% higher at 24,839.40, and the S&P BSE Sensex was 0.01% lower at 81.349.28.

The yield on the 10-year bond opened flat at 6.92%.

It closed at 6.92% on Monday.

Source: Cogencis

The local currency opened flat at 83.73 against the US dollar.

It closed at 83.73 on Monday.

Source: Bloomberg

Signs MoU to enhance safety & efficiency of railroads in India, adjacent markets

Source: Exchange Filing

• Retains 'Buy'; target Rs 370 implying 19% upside

• Order book of Rs 76,700 crore gives revenue visibility from FY24-27

• Rs 25,000 crore revenue guidance maintained for FY25

• Raise FY25-27 EPS estimates by 2-3% to reflect improvement

• Exports should rise to 9% of sales

• Values it at 45 times Sept 26 PE

• Downgrades to 'Neutral' rating from 'Buy'

• Price target of Rs 340 (+5.9% upside)

• 145% stock rally in past 1 year largely led by 70% higher order intake

• Expects ~19% top-line/EBITDA CAGRs (FY24-27E) and 12-month-forward PE of 48x

• Valuation leaves little room for a positive surprise

• Believes stock medium-term growth potential is priced in

• Believes HAL presents better new order growth potential in next 1-2 years

• Nuvama maintains Hold on UltraTech Cement at Rs 11,800 target (0.8% downside)

• India Cements acquisition to cement company's leadership in south India

• ICL acquisition, Kesoram cement assets to strengthen firm's positions in the south

• Acquisitions to potentially push capacity to 200 MT by FY26- end

• Access to limestone reserves positive given high acquisition price, capex needed to life efficiency of older plants

• Kesoram, ICL acquisitions likely to push UTCL’s capacity share in south beyond 20%

• Maintains neutral view on cement sector on weak pricing, run up in stocks

• Maintains 'Reduce' at Rs 236 target (31% downside)

• Standalone profit down 2% YoY on higher dividend income, regulatory gains in base quarter

• Capex guidance for FY25/26/27 stands at Rs 18,000/25,000/30,000 crore

• Expects only 6% EPS CAGR over FY24-26 despite strong capex guidance

• Lower EPS CAGR as high voltage direct current projects add to earnings after 2.5 years of build

• Believe company has ran out of near term triggers pertaining to order intake

• Find valuations expensive at P/BV of 3.3 times

• To watch out for in 12-18 months: Share in TBCB ordering, ROE in new TBCB wins

• Maintains 'Buy' at Rs 3,000 target (14.9% upside)

• Q1 Ebitda came 2% below brokerage estimates

• Lower realizations offset benefits of lower costs

• ACC to benefit from cost efficiencies targeted by Ambuja group

• Cut FY25/26/27 Ebitda estimates by 22%/4%/2%

• Maintains 'Buy' at Rs 467 target (18.4% upside)

• Company remains top pick in Electric Utilities

• Q1 net profit grew 11% YoY to Rs 4,500 crore

• FY25 cons. capex guidance at Rs 35,000 crore

• Company to foray into nuclear energy generation via JV

• First nuclear project of 2.8GW planned at capex of Rs 170-180 million per MW

• Slow progress on renewable capacity addition on operational issues

• Company to add 3GW/5GW/8GW capacity in FY25/FY26/FY27

• Maintains 'Buy' at Rs 420 target (9.9% upside)

• Q1 EBITDA of Rs 1600 cr was well below the Rs 2500 cr estimate

• Decline in gross refining margins were as expected

• Results miss primarily on LPG under recovery of Rs 2500 crore

• Lower HPCL's FY25/26 GRM forecasts to $7.5/8.5

• Lower FY25 blended petrol/diesel marketing margin to Rs 1.5/ltr

• FY25/26 EBITDA estimates change by -17%/-5%

• U.S. Dollar Index at 104.63

• U.S. 10-year bond yield at 4.18%

• Brent crude down 0.35% at $79.50 per barrel

• Nymex crude down 0.45% at $75.47 per barrel

• GIFT Nifty down 0.38% at 24,857 as of 7:29 a.m.

• Bitcoin was down 1.5% at $66,363.44.

• Nifty August futures up by 0.03% to 24,910 at a premium of 74 points.

• Nifty August futures open interest up by 0.45%.

• Nifty Bank July futures up by 0.2% to 51,384 at a discount of 22 points.

• Nifty Bank July futures open interest down by 15%.

• Nifty Options August 1 Expiry: Maximum Call open interest at 25,500 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 50,000.

• Securities in ban period: India Cements

• Ex/record Dividend: Granules India, Kokuyo Camlin, Orient Bell, UltraTech Cement, Avanti feeds, Brigade Enterprises.

• Ex/record AGM: InfoBeans Technologies, Granule India, Kokuyo Camlin, Man Infraconstruction, Orient Bell, Suven Life Sciences, UltraTech Cement, Asian Granito, Avanti Feeds.

• Ex/record buyback: Aurobindo Pharma.

• Moved in short-term Framework: Sportking India.

• Moved out short-term Framework: Just Dial, Zen Technologies.

Akums Drugs and Pharmaceuticals: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 646 to Rs 679 per share. The Rs 1,856.74 crore IPO is a combination of a fresh issue of Rs 680 crore and the rest of the offer for sale. The company has raised Rs 828 crore from anchor investors.

• JTL Industries: BNP Paribas Financial Markets bought 11 lakh shares (0.62%) at Rs 213 apiece, while Morgan Stanley Asia (Singapore) Pte. sold 11 lakh shares (0.62%) at Rs 213 apiece.

• Jyoti CNC Automation: Paresh Mohanlal Parekh sold 29.7 lakh shares (1.3%) at Rs 1,123 apiece and Vijay Mohanlal Parekh sold 25.76 lakh shares (1.13%) at Rs 1,123 apiece. On the other hand, Morgan Stanley Asia Singapore Pte bought 17.33 lakh shares (0.75%) at Rs 1123 apiece, Axis Midcap Fund bought 9.43 lakh shares (0.41%) and among others at Rs 1123 apiece.

• Cupid: Shubham Bidasaria sold 23.67 lakh shares (0.88%) at Rs 89.86 apiece.

• Orient Cement: Citigroup Global Markets Mauritius bought 14.51 lakh shares (0.7%) at Rs 351.38 apiece.

• Gensol Engineering: Wellray Solar Industries Private Limited sold 2.45 lakh shares (0.64%) at Rs 990.12 apiece.

• Gujarat Pipavav Port: Plutus Wealth Management LLP bought 25.34 lakh shares (0.52%) at Rs 232.5 apiece.

• India Cements: Societe Generale sold 20.61 lakh shares (0.66%) at Rs 378.15 apiece.

• Tata Steel: The company acquired 557 crore shares, aggregating to Rs 7,324.4 crore in T Steel Holdings. Post Acquisition Tata Steel Holdings will continue to be a wholly-owned unit of the company.

• RVNL: The company emerged as the lowest bidder for an order worth Rs 739 crore from the Himachal Pradesh State Electricity Board. The order is to be executed within 24 months.

• ITD Cementation: The company received an order worth Rs 1,237 crore for constructing a residential colony in New Delhi.

• PNB Housing Finance: Carlyle Group entity Quality Investment Holdings PCC plans to sell up to a 6.4% stake in the company for Rs 1,255 crore via open market deals. The public investor held a 32.68% stake in the Delhi-based mortgage lender as of June.

• RITES: The company is in collaboration with NHAI for comprehensive consultancy services.

• Dr Reddy’s: The company received a positive CHMP opinion from the European Medicines Agency for the proposed Rituximab biosimilar.

• CESC: The company acquired 63.9% equity shares of the step-down subsidiary, Purvah Green Power for a consideration of Rs 205 crore. After the acquisition, Purvah Green Power became a direct subsidiary of the company.

• Aarti Drugs: The company’s subsidiary, Pinnacle Life Science's manufacturing unit, received an Establishment Inspection Report from the US FDA.

• Brigade Enterprises: The wholly owned arm of Brigade Tetrarch Private LLP was renamed Brigade HRC LLP. The company has incorporated an LLP with an initial capital contribution of Rs 6.7 crore for the development of real estate projects.

360 ONE WAM, Aegis logistics, Ajanta Pharma, Apar Industries, Arvind SmartSpaces, Carborundum Universal, CarTrade Tech, Castrol India, Dixon Technologies, Exide Industries, Fine Organics Industries, Force Motors, Firstsource Solutions, Gail, Granules India, Greenpanel Industries, Indiamart Intermesh, Indus Towers, Indian Oil Corp, Johnson control Hitachi, Jindal Stainless, LLOYDS Metals and Energy, Macrotech Developers, MOIl. Navin Fluorine International, PTC Industries, Rajratan Global Wire, R R Kabel, Sapphire Foods, Shyam Metalics and Energy, Star Health and allied Insurance, Tata Consumer Products, Titagarh Rail Systems, Torrent Power, Varun Beverages, Vardhman Textiles, and Waaree Renewable Technologies.

ACC Q1 FY25 (Consolidated, YoY)

• Revenue down 0.9% at Rs 5,155 crore versus Rs 5,201 crore.

• Ebitda down 11.9% at Rs 679 crore versus Rs 771 crore.

• Margin at 13.2% versus 14.8%.

• Net profit down 22.5% at Rs 361 crore versus Rs 466 crore.

Colgate-Palmolive Q1 FY25 (Consolidated, YoY)

• Revenue up 13.1% at Rs 1,497 crore versus Rs 1,324 crore (Bloomberg estimate Rs 1,429 crore).

• Ebitda up 21.6% at Rs 508 crore versus Rs 418 crore (Bloomberg estimate Rs 471 crore).

• Margin at 34% versus 31.6% (Bloomberg estimate 33%).

• Net profit up 33% at Rs 364 crore versus Rs 274 crore (Bloomberg estimate 331 crore).

HPCL Q1 FY25 (Standalone, YoY)

• Revenue down 0.6% at Rs 1.13 lakh crore versus Rs 1.14 lakh crore.

• Ebitda down 56.1% at Rs 2,108 crore versus Rs 4,804 crore.

• Margin down 234 bps at 1.9% versus 4.2%.

• Net profit down 87.5% at Rs 356 crore versus Rs 2,843 crore.

KEI Industries Q1 FY25 (Consolidated, YoY)

• Revenue up 15.7% at Rs 2,060 crore versus Rs 1,781 crore.

• Ebitda up 21.7% at Rs 215 crore versus Rs 176 crore.

• Margin at 10.4% versus 9.9%.

• Net profit up 23.8% at Rs 150 crore versus Rs 121 crore.

Pfizer Q1 FY25 (Consolidated, YoY)

• Revenue up 5.9% at Rs 563 crore versus Rs 531 crore (Bloomberg estimate Rs 537 crore).

• Ebitda up 60.3% at Rs 177 crore versus Rs 111 crore (Bloomberg estimate Rs 168 crore).

• Margin at 31.5% versus 20.8% (Bloomberg estimate 30.7%).

• Net profit up 61.1% at Rs 151 crore versus Rs 94 crore (Bloomberg estimate Rs 139.5 crore).

Maharashtra Seamless Q1 FY25 (Consolidated, YoY)

• Revenue down 5.9% at Rs 1,151 crore versus Rs 1,223 crore.

• Ebitda down 49% at Rs 124 crore versus Rs 244 crore.

• Margin at 10.8% versus 19.9%.

• Net profit down 37.6% at Rs 129 crore versus Rs 207 crore.

Data Patterns Q1 FY25 (YoY)

• Revenue up 16% at Rs 104 crore versus Rs 89.7 crore (Bloomberg estimate Rs 108 crore).

• Ebitda up 33.4% at Rs 37 crore versus Rs 28 crore (Bloomberg estimate Rs 35.5 crore).

• Margin at 35.7% versus 31% (Bloomberg estimate 32.9%).

• Net profit up 26.9% at Rs 33 crore versus Rs 26 crore.

Jindal Saw Q1 FY25 (Consolidated, YoY)

• Revenue up 12% at Rs 4,939 crore versus Rs 4,410 crore.

• Ebitda up 38.2% at Rs 840 crore versus Rs 608 crore.

• Margin at 17% versus 13.8%.

• Net profit up 70.5% at Rs 416 crore versus Rs 244 crore.

Restaurant Brands Asia Q1 FY25 (Consolidated, YoY)

• Revenue up 5.9% at Rs 647 crore versus Rs 611 crore (Bloomberg estimate Rs 681 crore).

• Ebitda up 30.7% at Rs 63 crore versus Rs 48 crore (Bloomberg estimate Rs 68.4 crore).

• Margin at 9.8% versus 7.9% (Bloomberg estimate 10%).

• Net loss of Rs 52 crore versus loss of Rs 54 crore (Bloomberg estimate net loss of Rs 82 crore).

Indo Count Industries Q1 FY25 (Consolidated, YoY)

• Revenue up 27% at Rs 941 crore versus Rs 741 crore (Bloomberg estimate Rs 999 crore).

• Ebitda up 16.1% at Rs 145 crore versus Rs 125 crore (Bloomberg estimate Rs 152 crore).

• Margin at 15.4% versus 16.9% (Bloomberg estimate 15.2%).

• Net profit up 28.2% at Rs 29.8 crore versus Rs 23.3 crore (Bloomberg estimate Rs 81.7 crore).

Kalpataru Projects Q1 FY25 (Consolidated, YoY)

• Revenue up 8% at Rs 4,587 crore versus Rs 4,241 crore (Bloomberg estimate Rs 4,587 crore).

• Ebitda down 1% at Rs 378 crore versus Rs 382 crore (Bloomberg estimate Rs 423 crore).

• Margin at 8.2% versus 9% (Bloomberg estimate 9.2%).

• Net profit down 25.7% at Rs 84 crore versus Rs 113 crore (Bloomberg estimate Rs 133 crore).

Quess Corp Q1 FY25 (Consolidated, QoQ)

• Revenue up 1.9% at Rs 5,003 crore versus Rs 4,910 crore (Bloomberg estimate Rs 5,005 crore).

• EBIT down 5.2% at Rs 115 crore versus Rs 121 crore (Bloomberg estimate Rs 183.5 crore).

• EBIT margin at 2.3% versus 2.5% (Bloomberg estimate 3.7%).

• Net profit up 14% at Rs 112 crore versus Rs 98 crore (Bloomberg estimate Rs 82.7 crore).

The GIFT Nifty was trading 0.02% or 4 points higher at 24,882 as of 06:52 a.m.

Asia-Pacific markets logged losses early Tuesday as the Bank of Japan started its two-day policy meeting, in which investors are expecting a rate hike. Policy meeting of the US Federal Open Market Committee will also start later in the day.

The Nikkei 225 was 149.04 points or 0.39% lower at 38,319.59, and the S&P ASX 200 was 63.00 points or 0.79% down at 7,926.60 as of 06:50 am.

US stocks rose on Monday ahead of central bank decisions, crucial economic data, and earnings reports from four major tech giants with a combined valuation of nearly $10 trillion. Large tech stocks rebounded, while small caps, which had surged up to 10% in July, experienced a decline.

The upcoming results from Microsoft Corp., Meta Platforms Inc., Apple Inc., and Amazon.com Inc. will be critical, especially after a lackluster start to the mega-cap earnings season. Fed officials are expected to signal a potential rate cut in the coming months, with Chair Jerome Powell possibly providing hints on Wednesday.

The S&P 500 rose 0.08% and the Nasdaq Composite gained over 0.07%. The Dow Jones Industrial Average was up 0.12%.

Brent crude was trading 0.2% lower at $79.61 as of 7:17 a.m. Gold fell 0.13% to $2,381.12 an ounce.

The Indian benchmark stock indices erased most gains to end a volatile session flat on Monday 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.

Overseas investors turned net sellers on Monday after a day of buying on Friday last week. Foreign portfolio investors offloaded shares worth Rs 2,474.5 crore, while domestic institutional investors remained net buyers for the fifth consecutive session and bought equities worth Rs 5,665.5 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened 1 paise to a record low of 83.73 against the US dollar.