Stock Market Today: All You Need To Know Going Into Trade On Aug. 9
Stocks in the news, big brokerage calls of the day, trade setup and much more!
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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%.
The August futures contract of the GIFT Nifty was flat at 24,356.00 as of 7:00 a.m.
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.
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).
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.
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.
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).
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).
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.
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.
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.
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.
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.
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