Stock Market Today: Sensex, Nifty Extend Record Run Ahead of FOMC Decision

India's benchmark stock indices continued their gains for the fourth consecutive session to end at fresh record closing highs on Wednesday, led by gains Maruti Suzuki India Ltd. and Bharti Airtel Ltd.

Both indices closed at their highest levels. The NSE Nifty 50 closed at 24,951, up 0.38% or 93.85 points, and the S&P BSE Sensex closed at 81,741, up 0.35% or 285.94 points.

Brent crude oil snapped its two-day fall to close at 1.63% higher at $79.91 due to geopolitical tensions arising out of Israel's attack on Beirut.

After some movement in the morning trade, the Index remained rangebound for the rest of the day, according to Aditya Gaggar, director at Progressive Shares to settle the last day of the month on a positive note at 24,951.15 with gains of 93.85 points.

"The Index is heading towards the psychological barrier of 25,000 and a sustainable move above the same will push the index further higher to 25,200 whereas on the downside 24,800 will be considered as immediate support," he said.

Shares of Maruti Suzuki India Ltd. and Bharti Airtel Ltd. were positively contributing to changes in the Nifty 50.

While those of Reliance Industries Ltd., Infosys Ltd. amongst others were weighing the index.

On NSE, 10 out of 12 sectors were trading higher, with Nifty Metal and Pharma advancing the most. The Nifty PSU Bank fell the most.

Broader markets ended on a mixed note. The S&P BSE Midcap index ended 0.86% higher and Smallcap index ended 0.14% lower.

On BSE, 17 sectors advanced, three declined out of 20. The S&P BSE Utilities rose the most, and the S&P BSE Realty declined the most.

Market breadth was skewed in favour of buyers. Around 2,132 stocks rose, 1,820 stocks declined, and 85 remained unchanged on BSE.

Shares of Maruti Suzuki India Ltd. rose as much as 2.58% to Rs 13,076.30.

• Revenue rose 13.9% at Rs 2,138 crore vs Rs 1,877 crore

• Ebitda rose 25.2% at Rs 232 crore vs Rs 185 crore

• Margin at 10.9% vs 9.9%

• Net profit rose 24.6% at Rs 152 crore vs Rs 122 crore

• Revenue rose 35.7% at Rs 584 crore vs Rs 430 crore

• Other income at Rs 574 crore vs Rs 174 crore

• Net profit at Rs 33.2 crore vs Rs 81 lakh

• Margin at 9.9% vs 6.3%

• Ebitda at Rs 57.9 crore vs Rs 27.1 crore

• Total income rose 38.7% at Rs 666 crore vs Rs 480 crore

• Net profit rose 37% at Rs 252 crore vs Rs 184 crore

• Revenue rose 21% at Rs 1,145 crore vs Rs 946 crore

• Ebitda rose 21.1% at Rs 140 crore vs Rs 115 crore

• Margin flat at 12.21%

• Net profit rose 10.6%at Rs 33.5 crore vs Rs 30.3 crore

• Net profit rose 24.6% at Rs 84.2 crore vs Rs 68 crore

• Revenue rose 12.7% at Rs 734 crore vs Rs 652 crore

• Ebitda rose 20.8% at Rs 99 crore vs Rs 82 crore

• Margin at 13.4% vs 12.5%

• Net profit fell 25.4% at Rs 77 crore vs Rs 103 crore

• Revenue rose 4% at Rs 1,133 crore vs Rs 1,089 crore

• Ebitda fell 13.1% at Rs 182 crore vs Rs 209 crore

• Margin at 16% vs 19.2%

• Revenue fell10.7% at Rs 532 crore vs Rs 596 crore

• Ebitda fell 16% at Rs 77.9 crore vs Rs 92.8 crore

• Margin at 14.6% vs 15.6%

• Net profit fell 23.7% at Rs 39.9 crore vs Rs 52.3 crore

Shares of TVS Motor Ltd. scaled a fresh high of Rs 2,557.05. It was trading 1.73% higher at Rs 2,539.90 as of 2:03 p.m., as compared to 0.31% advance in the NSE Nifty 50 index.

• Net profit fell 24.4% at Rs 90.4 crore vs Rs 120 crore

• Revenue fell 10.8% at Rs 486 crore vs Rs 544 crore

• Ebitda fell 34.4% at Rs 106 crore vs Rs 161 crore

• Margin at 21.8% vs 29.7%

• Board approves 1:1 bonus issue

The Indian benchmark equity indices opened higher and continued their upbeat rally ahead of policy announcements by the Federal Reserve. Bharti Airtel Ltd. and NTPC Ltd. led gains.

Brent crude oil snapped its two-day fall to close at 1.63% higher at $79.91 due to geopolitical tensions arising out of Israel's attack on Beirut. 

At 12:28 p.m., the NSE Nifty 50 was 85.70 points, or 0.34% higher at 24,944, and the S&P BSE Sensex gained 234.28 points, or 0.29% to trade at 81,689.

Nifty hit an intraday high of 0.39%, and Sensex touched 0.37%.

The psychological level of 25,000 will continue to act as a strong barrier, according to Aditya Gaggar, director of Progressive Shares Brokers Pvt. While, immediate support is placed at 24,800 followed by 24,660.

For Bank Nifty, a level of 51,900 acts as a stiff hurdle, while 51,250 serves as immediate support, he said in addition to expecting stock-specific buying in information technology.

• Net profit at Rs 118 crore vs loss of Rs 53.4 crore

• Revenue rose 7.4% at Rs 2,131 crore vs Rs 1,984 crore

• Ebitda rose 70% at Rs 271 crore vs Rs 159 crore

• Margin at 12.7% vs 8%

• Revenue fell 0.07% at Rs 1,609.7 crore vs Rs 1,610.6 crore

• Margin at 19.6% vs 20.6%

• Ebitda fell 5.2% at Rs 315 crore vs Rs 332 crore

• Net profit rose 0.2% at Rs 203 crore vs Rs 202.8 crore

• Net profit rose 2.1% at Rs 28.4 crore vs Rs 27.8 crore

• Revenue rose 7.5% at Rs 243 crore vs Rs 226 crore

• Ebitda rose 0.2% at Rs 41.9 crore vs Rs 41.8 crore

• Margin at 17.3% vs 18.5%

• Revenue down 2.6% to Rs 1,327 crore from Rs 1,363 crore

• Ebitda down 13% at Rs 174 crore from Rs 201 crore

• Margin down 160 basis points at 13.1% from 14.7%

• Net profit down 16.6% at Rs 150 crore from Rs 180 crore

• Revenue down 1.4% to Rs 2,281 crore from Rs 2,313 crore

• Ebitda up 65.5% at Rs 464 crore from Rs 281 crore

• Margin up 820 bps at 20.3% from 12.1%

• Net profit up 75.7% at Rs 200 crore from Rs 114 crore

Shares of Mahindra & Mahindra Ltd. rose to a high of Rs 2,968.00, the highest level in one month. It was trading 1.16% higher at 2,955.90 as of 1:23 p.m., as compared to 0.33% advance in the NSE Nifty 50 index.

Earlier, it erased gains after its net profit fell missing estimates for April-June.

The NSE Nifty Auto index rose 0.60% to a high of 26,787.35 tracking gains in Mahindra & Mahindra Ltd., TVS Motor Ltd. It was trading 0.49% higher at 26,712.45 as of 1:19 p.m., as compared to 0.34% advance in the NSE Nifty 50 index.

Shares of Mahindra & Mahindra Ltd. rose as much as 1.57% to Rs 2,968.00. Now, the stock is trading 0.08% lower at Rs 2,920.35 as of 1:09 p.m., as compared to 0.27% advance in the NSE Nifty 50 index.

• Revenue rose 11.18% at Rs 27,132.76 crore vs Rs 24,402.85 crore

• Ebitda rose 15.91% at Rs 4,116.19 crore vs Rs 3,551.11 crore

• Margin rose 61 basis points at 15.17% vs 14.55%

• Net profit down 5.31% at Rs 2,612.63 crore vs Rs 2759.43 crore

• Board appoints TN Manoharan as the Lead Independent Director with effect from Aug 8.

• Revenue rose 9.6% at Rs 5,485 crore vs Rs 5,003 crore

• Ebitda loss of Rs 170 crore vs Ebitda loss of Rs 179 crore

• Net loss of Rs 211 crore vs loss of Rs 204 crore

• Revenue up 10.7% to Rs 801 crore from Rs 724 crore

• Ebitda up 28.7% at Rs 114 crore from Rs 88.5 crore

• Margin up 2 basis points at 14.2% from 12.2%

• Net profit up 20.4% at Rs 73 crore from Rs 60 crore

Shares of Ambuja Cements Ltd. erased losses as its profit came at Rs 571 crore against an estimate of Rs 519 crore. The stock was trading 0.53% higher at Rs 678.00 as of 12:41 p.m.

Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Ltd., an Adani Group company.

• Bank of India has hiked one-year MCLR by 5 basis points.

• The one-year MCLR is at 8.95% vs 8.90% earlier.

Source: Exchange filing

• The total investment for the project is pegged at Rs 20,000 crore.

• The MoU follows discussions between Maharashtra deputy CM Devendra Fadnavis and Toyota Motor Co. in Japan.

• Toyota has chosen Maharashtra for this project over Gujarat and Tamil Nadu, states which were also in contention.

• Toyota India’s Aurangabad project is expected to generate 8,000 direct jobs and 16,000 indirect jobs.

Source: Maharashtra Govt/NDTV Marathi

• Aurionpro Solutions Ltd. has received an order worth $3 million from Malaysia's leading bank.

Source: Exchange filing

• Shilpa Medicare Ltd. received suitability certificate from EDQM for API, Ursodeoxycholic Acid.

• EDQM stands for European Directorate for Quality of Medicines & Healthcare

Source: Exchange filing

• The rupee weakened 3 paise to a record low of 83.75 against the US dollar.

• It closed at 83.72 on Tuesday.

Source: Bloomberg

• Revenue down 21.1% to Rs 739 crore from Rs 936 crore

• Ebitda loss at Rs 125 crore from Rs 149 crore

• Net profit rose 287.31% at Rs 519 crore from Rs 134 crore

• Other income at Rs 960 crore

• ZF Steering Gear (India) Ltd.'s arm Metacast Auto's factory operation is rescheduled and will commence by September, 2024.

• The arm NexSteer Systems' factory construction under progress. Operation is rescheduled to commence from Q4.

Source: Exchange filing

• Zydus Lifesciences Ltd. has received an approval from Mexico's COFEPRIS to market Mamitra to treat various cancers.

• Alert: Mamitra is a biosimilar of Trastuzumab

Source: Exchange filing

• IPO to open on Aug 6, close on Aug 8

• IPO to have fresh issue of shares worth Rs 1,666 crore, and OFS of 5.44 crore shares.

Source: Bloomberg

• Quality Investment Holding in the PNB Housing Finance Ltd. reduced to 19.9% from 32.7% earlier.

• Quality Investment nominee director Kapil Modi resigns.

Source: Exchange filing

• Autoline Industries Ltd. received an order worth Rs 204 crore from Tata Motors Passenger Vehicle for manufacturing tools & supply of metal parts.

Source: Exchange filing

Shares of 360 One Wam Ltd. rose to the highest level since its listing on the bourses as it has entered in a settlement deed to resolve a civil suit in the UK court.

Shares of 360 One Wam Ltd. rose as much as 3.30% to Rs 1,138.95, the highest level since its listing on Sep 19, 2019. It was trading 1.52% higher at Rs 1,119.35 as of 10:42 a.m., as compared to 0.35% advance in the NSE Nifty 50 index.

The scrip gained 115.28% in 12 months, and 58.17% on year to date basis. Total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 74.21.

Out of nine analysts tracking the company, eight maintain a 'buy' rating, one recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 11.8%.

Shares of GAIL (India) Ltd. surged over 5% and hit their life high after it reported its June quarter earnings on Tuesday.

The natural gas company's consolidated net profit rose 77.5% in the first quarter of financial year 2025, beating analysts' estimates.

• Abans Holdings Ltd.'s arm AIMPL valued at Rs 150 crore in Series A funding round.

Source: Exchange filing

The shares of Titagarh Rail Systems Ltd. slumped as its net profit rose 8.4% but missed analysts' estimates.

Shares of Titagarh Rail Systems fell as much as 8.99% to Rs 1,532.40 apiece, on NSE. It pared losses to trade 5.11% lower at Rs 1,597.65 apiece as of 9:57 a.m. This compares to a 0.15% advance in the NSE Nifty 50.

The stock has risen 144.93% in the last 12 months. Total traded volume so far in the day stood at 54.33% year-to-date. The relative strength index was at 47.85.

Out of eight analysts tracking the company, six maintain a 'buy' and two suggest 'hold,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 9.5%.

• Monthly Japanese government bonds buying to be ¥3 trillion in January-March 2026.

• The Bank of Japan is to reduce purchase amount of Japanese govt bonds in a periodical way.

• BoJ will review bond buying plan at policy meeting if needed

• Nikkei, Topix extend drop after BoJ decision

• Japan's 10-year bond futures trim intraday losses after BoJ decision

• The Yen extends losses against the US dollar to 0.6%

Source: Bloomberg

Shares of Torrent Power Ltd. surged over 9% to hit a record high on Wednesday after its first-quarter profit beat analysts' estimates.

The company's net profit surged 7.2% year-on-year to Rs 996 crore in the quarter ended June 2024, according to an exchange filing.

Shares of Indus Towers Ltd. fell to nearly one-week low on Wednesday as the company's board approved the proposal to buyback shares. Indus Towers will buy back 5.67 crore shares of 2.107% stake in the company.

Shares of Indus Towers Ltd. declined 3.68% lower at Rs 430.35, the lowest level since July 25. It was trading 1.88% lower at Rs 438.40 as of 09:56 a.m., as compared to 0.11% advance in the NSE Nifty 50 index.

India's share indices opened higher on Wednesday as ICICI Bank Ltd., Mahindra & Mahindra Ltd. rose.

As of 09:16 a.m., the NSE Nifty 50 was 53.80 points or 0.22% higher at 24,911.10, and the S&P BSE Sensex was 150.83 points or 0.19% higher at 81,606.23.

"As traders brace for the Federal Open Market Committee meeting concluding Wednesday with a policy statement from Fed Chair Jerome Powell, the Fed is expected to maintain interest rates unchanged. Yet, hints of rate cuts in September linger. Wednesday, July 31, will be busy on Dalal Street with Q1 earnings from major companies like Adani Power Ltd., Ambuja Cemenst Ltd., Bank of Baroda, and Tata Steel Ltd.," said Prashanth Tapse, senior vice president, Research, Mehta Equities.

ICICI Bank Ltd., Bharti Airtel Ltd., ITC Ltd., NTPC Ltd., and Maruti Suzuki India Ltd. added to the benchmark index.

Reliance Industries Ltd., Axis Bank Ltd., Power Grid Corp, Tata Consumer Products Ltd., and Coal India Ltd. weighed on the index.

On NSE, 10 sectors advanced, and two declined out of 12. The NSE Nifty Metal rose the most, and the NSE Nifty PSU Bank declined the most.

Broader markets rose in line with the benchmark indices. The S&P BSE Midcap and S&P BSE Smallcap indices were trading 0.39% and 0.28% higher.

On BSE, 19 sectors advanced, and one declined out of 20. The S&P BSE Oil & Gas rose the most, while the S&P BSE Realty declined the most.

Market breadth was skewed in favour of buyers. Around 1,957 stocks advanced, 993 stocks declined, and 140 stocks remained unchanged on BSE.

At pre-open, the NSE Nifty 50 was trading 0.12% higher at 24,886.70, and the S&P BSE Sensex was 0.25% higher at 81,656.94.

• The yield on the 10-year bond opened flat at 6.93%.

• It closed at 6.93% on Tuesday.

Source: Bloomberg

• The rupee opened flat at 83.72 against the US dollar.

• It closed at 83.72 on Tuesday.

Source: Bloomberg

• Hubtown Ltd. has approved raising Rs 935 crore via preferential issue of shares.

• Hubtown has approved raising Rs 275 crore via issuance of warrants to promoters.

Source: Exchange filing

• 360 One Wam Ltd. has sign a settlement deed civil suit in UK court.

• The company will pay GBP 11.1 million for settlement of civil suit in UK.

Source: Exchange filing

• Godrej Properties Ltd. cquires 46-acre land parcel in Indore

• Indore land parcel estimated saleable area at 1.16 million square feet

Source: Exchange filing

• SEBI proposed F&O measures will remove 12 (of 18) weekly contracts

• Will impacts 35% of industry premiums

• Phased hike in lot sizes and margin hike near expiry will hurt retail investors

• Exchanges and retail focused brokers be most likely impacted

• Clearing members like Nuvama will be less impacted because of institutional focus

• Removal of Bankex weekly contract can impact BSE EPS by 7-9% over FY25-27

• Gains from spillover of discontinued activity can offset the EPS impact

• U.S. Dollar Index at 104.40

• U.S. 10-year bond yield at 4.14%

• Brent crude up 1.04% at $79.45 per barrel

• Nymex crude up 1.24% at $75.66 per barrel 

• Bitcoin was up 0.04% at $66,199.06

• The GIFT Nifty was 0.19% or 47 points at 24,958.00 as of 08:50 a.m.

The Indian rupee weakened to a record low against the US dollar on Tuesday, ahead of key policy announcements by the US Federal Reserve and Bank of Japan later this week.

The Indian currency closed at Rs 83.72 after dipping to Rs 83.7438 against the greenback in early trade before paring a loss to trade at Rs 83.7363 at 10:04 a.m., according to Bloomberg. The local unit opened at Rs 83.73, unchanged from Monday's closing.

• Nifty August futures up by 0.09% to 24,929.1 at a premium of 71.8 points.

• Nifty August futures open interest up by 1.92%.

• Nifty Bank July futures up by 0.17% to 51,520 at a premium of 21 points.

• Nifty Bank July futures open interest down by 13.35%.

• Nifty Options Aug. 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: Kamdhenu, Igarashi Motors India, Centum Electronics, Crisil, DLF, EIH, Bata India, HEG, Sundaram Finance, Saksoft.

• Ex/record AGM: Kamdhenu, Igarashi Motors India, NRB Industrial, Page Industries, Aarti Pharmalabs, SRF, Go Fashion, Bata India, HEG, Sundaram Finance, Saksoft.

• Moved in short-term Framework: DCW, Vishnu Prakash R Punglia.

• Akums Drugs & Pharmaceuticals: The public issue was subscribed 1.37 times on day 1. The bids were led by institutional investors (0.43 times), non-institutional investors (1.96 times), retail investors (3.35 times), and reserved for employees (1.07 times).

• Sarda Energy and Minerals: Fortune Couriers Ltd. sold 15 lakh shares (0.42%) at Rs 279 apiece, Johnson Dye Works Pvt. bought 7.5 lakh shares (0.21%) at Rs 279 apiece, and New Era Fabrics Ltd. bought 7.5 lakh shares (0.21%) at Rs 279 apiece.

• PNB Housing: Quality Investment Holdings PCC sold 3.32 crore shares (12.8%) at Rs 775.25 apiece, Singapore Government-linked entities bought lakh shares (2.9%) at Rs 775 apiece, Aditya Birla Sun Life Mutual Fund bought 29.03 lakh shares (1.11%) at Rs 775 apiece, ICICI Prudential Life Insurance Co. bought 14.19 lakh shares (0.54%) at Rs 775 apiece, DSP Blackrock Mutual Fund bought 13.7 lakh shares (0.52%) at Rs 775 apiece, and HSBC Mutual Fund bought 13.48 lakh shares (0.51%) at Rs 775 apiece.

• PDSL: ICICI Prudential Mutual Fund bought 10 lakh shares (0.75%) at Rs 554.97 apiece.

• Cigniti Technologies: Rajasthan Global Securities bought 1.5 lakh shares (0.54%) at Rs 1,365 apiece.

• Hindustan Zinc: The company received an income tax demand worth Rs 1,170 crore for AY 2021. This demand is based on identical disallowances and additions imposed in previous years and the company has secured favourable orders from the Income Tax Appellate Tribunal on these same issues in earlier years.

• Mahindra and Mahindra Finance: The board approved raising up to Rs 1,500 crore via bonds. The size of the issue is Rs 250 crore, with a greenshoe option up to Rs 1,250 crore.

• Adani Energy: The company opened QIP at a floor price of Rs 1,027.1 per share.

• Vedanta: The company received the go-ahead from 75% of its secured creditors for its planned split into six independent listed companies. The company has received a tax demand of Rs 1,289.1 crore from the National Faceless Assessment Centre for the assessment year 2021.

• Power Grid: The company reported that the Rs 40,000 crore undersea interconnection deal with the Middle East is incorrect. The company has not made any assertions, and no such negotiations have occurred.

• Lloyds Engineering: The company announced the acquisition of a 77% majority stake in Techno Industries Pvt.

• Samvardhana Motherson International: The company will consider fundraising on Aug. 2.

• Dhanuka Agritech: The company will consider fundraising on Aug. 2.

• Marico: The company received a Rs 142-crore income tax demand for AY 21 on account of various transfer pricing adjustments made. The company plans to file a rectification application.

• South India Bank: The board approved raising up to Rs 750 crore through QIP or other means.

Action Construction Equipment, Adani Power, Ambuja Cement, Asahi India Glass, Aster DM Healthcare, Bank of Baroda, BHEL, Birlasoft, Coal India, Crompton Greaves Consumer Electricals, Electrosteel Castings, Elgi Equipments, Five-Star Business Finance, GE T&D India, Godrej Properties, Greenply Industries, HeidelbergCement, JBM Auto, JK Lakshmi Cement, KPR Mills, Lakshmi Machine Works, Mahindra and Mahindra, Mankind Pharma, Maruti Suzuki India, Nuvoco Vistas Corp, the Phoenix Mills, Prestige Estates Projects, Pricol, Puravankara, Redington, Relaxo Footwears, Rites, Sonata Software, Stylam Industries, Sundaram Fasteners, Tata Investment Corp, Tata Steel, Teamlease Services, Thomas Cook, Urgo Capital, Zee Entertainment.

Tata Consumer Products Q1 FY25 (Consolidated, YoY)

• Revenue up 16.3% at Rs 4,352 crore versus Rs 3,741 crore (Bloomberg estimate Rs 4,309 crore).

• Ebitda up 22.4% at Rs 667 crore versus Rs 545 crore (Bloomberg estimate Rs 649 crore).

• Margin at 15.3% versus 14.6% (Bloomberg estimate Rs 15.1%).

• Net profit down 12.4% at Rs 314 crore versus Rs 359 crore (Bloomberg estimate Rs 351 crore).

Torrent Power Q1 FY25 (Consolidated, YoY) 

• Revenue up 23.3% at Rs 9,034 crore versus Rs 7,328 crore (Bloomberg estimate Rs 7,827 crore).

• Ebitda up 56.8% at Rs 1,858 crore versus Rs 1,185 crore (Bloomberg estimate Rs 1,396 crore).

• Ebitda margin at 20.6% versus 16.1% (Bloomberg estimate 17.8%).

• Net profit up 87.2% at Rs 996 crore versus Rs 532 crore (Bloomberg estimate Rs 632 crore).

Navin Fluorine International Q1 FY25 (Consolidated, YoY)

• Revenue up 6.6% at Rs 524 crore versus Rs 491 crore (Bloomberg estimate Rs 569 crore).

• Ebitda down 12.1% at Rs 100 crore versus Rs 114 crore (Bloomberg estimate Rs 107 crore).

• Margin at 19.2% versus 23.3% (Bloomberg estimate 18.9%).

• Net profit down 16.8% at Rs 51 crore versus Rs 62 crore (Bloomberg estimate Rs 59.47 crore).

Macrotech Developers Q1 FY25 (Consolidated, YoY)

• Revenue up 76% at Rs 2,847 crore versus Rs 1,617 crore (Bloomberg estimate Rs 3,045 crore).

• Ebitda at Rs 757 crore versus Rs 330 crore (Bloomberg estimate Rs 852 crore).

• Margin at 26.6% versus 20.4% (Bloomberg estimate 28%).

• Net profit at Rs 476 crore versus Rs 179 crore (Bloomberg estimate Rs 509 crore).

Indus Tower Q1 FY25 (Consolidated, YoY)

• Revenue up 2.6% at Rs 7,383 crore versus Rs 7,193 crore (Bloomberg estimate Rs 7,523 crore).

• Ebitda up 10.8% at Rs 4,545 crore versus Rs 4,102 crore (Bloomberg estimate Rs 4,005 crore).

• Margin at 61.6% versus 57% (Bloomberg estimate 53.2%).

• Net profit up 3.9% at Rs 1,926 crore versus Rs 1,853 crore (Bloomberg estimate Rs 1,572 crore).

• Board approved proposal to buy back up to 5.7 crore equity at Rs 465 per share.

Johnson Controls-Hitachi Q1 FY25 (YoY)

• Revenue up 75.6% at Rs 996 crore versus Rs 567 crore.

• Ebitda at Rs 57 crore versus Ebitda loss of Rs 36 crore.

• Ebitda margin at 5.7%.

• Net profit at Rs 36 crore versus loss of Rs 41 crore.

Rajratan Global Wire Q1 FY25 (Consolidated, YoY)

• Revenue up 8% at Rs 220 crore versus Rs 204 crore.

• Ebitda up 17.4% at Rs 29.5 crore versus Rs 25.12 crore.

• Margin at 13.4% versus 12.3%.

• Net profit up 22.6% at Rs 15 crore versus Rs 12 crore.

Zaggle Prepaid Q1 FY25 (Consolidated, YoY)

• Revenue up at Rs 252 crore versus Rs 118 crore.

• Ebitda up at Rs 22 crore versus Rs 8 crore.

• Margin at 8.9% versus 6.7%.

• Net profit up at Rs 17 crore versus Rs 2 crore.

RR Kabel Q1 FY25 (Consolidated, YoY)

• Revenue up 13.2% at Rs 1,808 crore versus Rs 1,597 crore (Bloomberg estimate Rs 1,818 crore).

• Ebitda down 15.9% at Rs 95 crore versus Rs 113 crore (Bloomberg estimate Rs 129 crore).

• Margin at 5.3% versus 7.1% (Bloomberg estimate 7.1%).

• Net profit down 13.4% at Rs 64 crore versus Rs 74 crore (Bloomberg estimate Rs 86.58 crore).

Greenpanel Industries Q1 FY25 (Consolidated, YoY)

• Revenue down 5.5% at Rs 365 crore versus Rs 386 crore (Bloomberg estimate Rs 382 crore).

• Ebitda down 45.2% at Rs 36 crore versus Rs 66 crore (Bloomberg estimate Rs 50.57 crore).

• Margin at 9.9% versus 17% (Bloomberg estimate 13%).

• Net profit down 57.6% at Rs 16 crore versus Rs 37 crore (Bloomberg estimate Rs 27 crore).

Aegis Logistics Q1 FY25 (Consolidated, YoY)

• Revenue down 23.8% at Rs 1,601 crore versus Rs 2,101 crore (Bloomberg estimate Rs 2,225 crore).

• Ebitda up 18.6% at Rs 232 crore versus Rs 196 crore (Bloomberg estimate Rs 259 crore).

• Margin at 14.5% versus 9.3% (Bloomberg estimate Rs 11.6%).

• Net profit up 19.1% at Rs 158 crore versus Rs 133 crore (Bloomberg estimate Rs 150 crore).

GAIL (India) Q1 FY25 (Consolidated, YoY) 

• Revenue up 6% at Rs 34,738 crore versus Rs 32,789 crore (Bloomberg estimate Rs 32,892 crore).

• Ebitda up 80% at Rs 4,790 crore versus Rs 2,660 crore.

• Margin at 13.8% versus 8.1%.

• Net profit up 77.5% at Rs 3,183 crore versus Rs 1,793 crore (Bloomberg estimate Rs 2,148 crore).

Titagarh Rail Systems Q1 FY25 (Consolidated, YoY) 

• Revenue down 0.9% at Rs 903 crore versus Rs 911 crore (Bloomberg estimate Rs 1,222 crore).

• Ebitda down 4% at Rs 102 crore versus Rs 106 crore (Bloomberg estimate Rs 119.1 crore).

• Margin at 11.3% versus 11.6% (Bloomberg estimate Rs 9.7%).

• Net profit up 8.4% at Rs 67 crore versus Rs 62 crore (Bloomberg estimate Rs 81.5 crore).

360 One WAM Q1 FY25 (Consolidated, YoY)

• Total revenue up 60.6% at Rs 697 crore versus Rs 434 crore.

• Net profit up 34.3% at Rs 243 crore versus Rs 181 crore (Bloomberg estimate Rs 220 crore).

Waaree Renewable Technologies Q1 FY25 (Consolidated, YoY)

• Revenue up 83.3% at Rs 236 crore versus Rs 129 crore.

• Ebitda at Rs 41 crore versus Rs 13 crore.

• Ebitda margin at 17.4% versus 10.4%.

• Net profit up at Rs 28 crore versus Rs 9 crore.

Star Health and Allied Insurance Co. Q1FY25- (YoY)

• Total income up 15.7% at Rs 3,692 crore versus Rs 3,190 crore.

• Net profit up 10.8% at Rs 319 crore versus Rs 288 crore (Bloomberg estimate Rs 330.04 crore).

Most share indices in the Asia-Pacific region were trading higher on Wednesday before the rate decisions from the Bank of Japan, and the US Federal Reserve. Both are scheduled to be published later in the day.

The Nikkei 225 was 308.16 points or 0.80% lower at 38,217.79, and the S&P ASX 200 was 50.30 points or 0.63% higher at 8,003.50 as of 06:51 a.m. The Kospi was 11.95 points or 0.44% higher at 2,750.14.

A selloff in major global companies led to a decline in the US stock markets as traders awaited key earnings reports from tech giants and central bank decisions. Although most S&P 500 shares rose, tech sector weakness, notably a 7.04% drop in Nvidia Corp. impacted the index.

The S&P 500 fell 0.50% and the Nasdaq Composite ended 1.28% lower as of Tuesday. The Dow Jones Industrial Average was up 0.50%.

Brent crude was trading 0.50% higher at $79.02 a barrel at 06:55 a.m.. Gold fell 0.11% to $2,408.16 an ounce.

The GIFT Nifty was 0.05% or 12.50 points higher at 24,923.50 as of 06:58 a.m.

India's benchmark stock indices continued their gains for the third consecutive session to end at fresh record closing highs on Tuesday, led by gains in HDFC Bank Ltd., Tata Motors Ltd., and NTPC Ltd.

Both indices closed at their highest levels. The NSE Nifty 50 closed at 24,857.30, up 0.09% or 21.20 points, and the S&P BSE Sensex closed at 81,455.40, up 0.12% or 99.56 points.

Overseas investors stayed net sellers of Indian equities on Tuesday for the second straight day. Foreign portfolio investors offloaded stocks worth Rs 5,598.6 crore, while domestic institutional investors stayed net buyers for the sixth session and bought equities worth Rs 5,565.1 crore, according to provisional data from the National Stock Exchange.

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