Stock Market Today: All You Need To Know Going Into Trade On Aug. 1
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Most markets in Asia-Pacific were trading higher on Thursday morning after the US Federal Reserve Chair Jerome Powell's comments in press conference affirmed hopes of a rate cuts as soon as September.
The S&P ASX 200 scaled a fresh high of 8,148.70, and was trading 0.48% higher as of 06:54 a.m. The Kospi was trading 0.39% higher at 2,781.40.
In case the balance of risks is consistent with confidence in inflation easing, and maintaining a solid labour market, a cut in the policy rates could be as soon as in September, Powell told reporters in a press conference, Bloomberg reported.
The Federal Open Market Committee has kept its benchmark target rate unchanged at 5.25-5.5% in line with expectations on late Wednesday.
Meanwhile, the Nikkei 225 slumped nearly 3% on Thursday as the yen strengthened against the greenback. It was trading 2.68% lower as of 06:57 a.m.
US stocks ended higher on growing hopes of monetary easing. The S&P 500 rose 1.58%, and the Nasdaq Composite rose 2.64% as of Wednesday. The Dow Jones Industrial Average was up 0.24%.
Brent crude was trading 0.92% higher at $78.63 a barrel. Gold rose 0.37% to $2,456.65 an ounce as of 06:59 a.m.
The GIFT Nifty was trading 0.03% or 8 points higher at 25,096.00 as of 07:00 a.m.
India's benchmark stock indices continued their gains for the fourth consecutive session to end at fresh record closing highs on Wednesday, ahead of the Federal Open Market Committee's meeting later in the day.
Both indices closed at their highest levels. The NSE Nifty 50 closed up 93.85 points, or 0.38%, at 24,951 and the S&P BSE Sensex closed 285.94 points, or 0.35%, higher at 81,741.
Overseas investors stayed net sellers of Indian equities on Wednesday for the third consecutive session. Foreign portfolio investors offloaded stocks worth Rs 3,462.4 crore, while domestic institutional investors stayed net buyers for the sixth session and bought equities worth Rs 3,366.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 83.73 against the US dollar.
Earnings Post Market Hours
Coal India Q1 Earnings (Consolidated, YoY)
Revenue up 1.33% at Rs 36,464 crore versus Rs 35,983 crore (Bloomberg estimate Rs 36,021 crore).
Ebitda up 5.62% at Rs 14,338 crore versus Rs 13,575 crore (Bloomberg estimate Rs 10,172 crore).
Ebitda margin up 159 bps at 39.32% versus 37.72% (Bloomberg estimate 28.2%).
Net profit up 4.2% at Rs 10,943.5 crore versus Rs 13,385 crore (Bloomberg estimate Rs 7,653 crore).
Bank of Baroda Q1 FY25 (Standalone, YoY)
Net interest income up 5.48% to Rs 11,600.1 crore versus Rs 10,997 crore.
Net profit up 9.5% to Rs 4,458.1 crore versus Rs 4,070 crore (Bloomberg estimate Rs 4,546 crore)
Gross NPA at 2.88% versus 2.92% (QoQ).
NNPA at 0.69% versus 0.68% (QoQ).
GE T&D India Q1 Earnings (Consolidated, YoY)
Revenue up 33.56% at Rs 958 crore versus Rs 718 crore (Bloomberg estimate Rs 889 crore).
Ebitda up 259.94% at Rs 182 crore versus Rs 51 crore (Bloomberg estimate Rs 87.15 crore).
Ebitda margin up 1195 bps at 19% versus 7.05% (Bloomberg estimate Rs 9.8%).
Net profit up 376.95% at Rs 134.5 crore versus Rs 28 crore (Bloomberg estimate Rs 58.23 crore).
Tata Steel Q1 FY25 (Consolidated, YoY)
Revenue down 7.94% at Rs 54,771 crore versus Rs 59,490 crore (Bloomberg estimate Rs 56,340 crore).
Ebitda up 29.39% at Rs 6694 crore versus Rs 5174 crore (Bloomberg estimate Rs 6,380 crore).
Ebitda margin up 352 bps at 12.22% versus 8.69% (Bloomberg estimate 11.30%).
Net profit up 75.04% at Rs 919 crore versus Rs 525 crore (Bloomberg estimate Rs 1,216 crore).
Exceptional loss item of Rs 358 crore in current quarter.
UGRO Capital Q1 FY 25 (YoY)
Total income up 38.1% at Rs 302 crore versus Rs 218 crore.
Net profit up 20.3% at Rs 30 crore versus Rs 25 crore (Bloomberg estimate Rs 47.3 crore).
PRICOL Q1 Highlights (Consolidated, YoY)
Revenue up 15.5% at Rs 603 crore versus Rs 522 crore (Bloomberg estimate: Rs 617.8 crore).
Ebitda up 28.1% at Rs 63.5 crore versus Rs 49.6 crore (Bloomberg estimate: Rs 79.1 crore).
Margin expanded at 10.5% versus 9.5% (Bloomberg estimate: Rs 12.80%).
Net profit up 42.6% at Rs 46 crore versus Rs 32 crore (Bloomberg estimate: Rs 41.9 crore).
Relaxo Footwears Q1 Highlights (Consolidated, YoY)
Revenue up 1.3% at Rs 748 crore versus Rs 739 crore (Bloomberg estimate: Rs 788.83 crore).
Ebitda down 8% at Rs 98.9 crore versus Rs 108 crore (Bloomberg estimate: Rs 122.67 crore).
Margin contracted at 13.2% versus 14.6% (Bloomberg estimate: Rs 15.60%).
Net profit down 21.2% at Rs 44.4 crore versus Rs 56 crore (Bloomberg estimate: Rs 62.97 crore).
Sonata Software Q1 FY25 (Consolidated, YoY)
Revenue up 15.3% at Rs 2,527 crore versus Rs 2,192 crore (Bloomberg estimate: Rs 2,347.93 crore).
Ebit up 22.2% at Rs 176 crore versus Rs 144 crore (Bloomberg estimate: Rs 161.53 crore).
Margin expanded at 7% versus 6.6% (Bloomberg estimate: Rs 6.88%).
Net profit up 4.3% at Rs 106 crore versus Rs 110 crore (Bloomberg estimate: Rs 111.18 crore).
JK Lakshmi Cement Q1 FY25 (Consolidated, YoY)
Revenue down 9.6% at Rs 1,564 crore versus Rs 1,730 crore (Bloomberg estimate Rs 1,658 crore).
Ebitda up 13.3% at Rs 222 crore versus Rs 196 crore (Bloomberg estimate Rs 275 crore).
Margin at 14.2% versus 11.3% (Bloomberg estimate 16.6%).
Net profit down 15.3% at Rs 68 crore versus Rs 80 crore (Bloomberg estimate 121 crore).
Puravankara Q1 FY25 (Consolidated, YoY)
Revenue at Rs 658 crore versus Rs 323 crore (Bloomberg estimate Rs 414 crore).
Ebitda at Rs 130 crore versus Rs 63.7 crore.
Margin at 19.8% versus 19.7%.
Net profit at Rs 14.8 crore versus loss of Rs 18 crore (Bloomberg estimate Rs 4 crore).
Prestige Estates Q1 Results (Consolidated, YoY)
Revenue up 10.8% at Rs 1,862 crore versus Rs 1,681 crore. (Bloomberg estimate Rs 2,395 crore).
Ebitda up 51.2% at Rs 796 crore versus Rs 527 crore. (Bloomberg estimate Rs 743 crore).
Margin at 42.8% versus 31.3%. (Bloomberg estimate 31%).
Net profit down 3.4% at Rs 307 crore versus Rs 318 crore. (Bloomberg estimate Rs 177 crore).
Redington Q1 Results (Consolidated, YoY)
Revenue up 0.4% at Rs 21,282 crore versus Rs 21,187 crore (Bloomberg estimate Rs 21,912 crore).
Ebitda down 11.5% at Rs 371 crore versus Rs 419 crore (Bloomberg estimate Rs 467 crore).
Margin at 1.7% versus 2% (Bloomberg estimate 2.1%).
Net profit down 15% at Rs 217 crore versus Rs 255 crore (Bloomberg estimate Rs 274 crore).
Sundaram Fasteners Q1 FY25 (Consolidated, YoY)
Revenue up 6.2% at Rs 1,498 crore versus Rs 1,411 crore (Bloomberg estimate: Rs 1,414 crore).
Ebitda up 9.2% at Rs 247 crore versus Rs 226 crore (Bloomberg estimate: Rs 223.8 crore).
Margin expanded at 16.5% versus 16% (Bloomberg estimate: Rs 15.80%).
Net profit up 10.8% at Rs 143 crore versus Rs 129 crore (Bloomberg estimate: Rs 135 crore).
Phoenix Mills Q1 FY25 (Consolidated, YoY)
Revenue up 11.5% at Rs 904 crore versus Rs 811 crore (Bloomberg estimate: Rs 981.12 crore).
Ebitda up 7.9% at Rs 531 crore versus Rs 492 crore (Bloomberg estimate: Rs 561.53 crore).
Margin contracted at 58.7% versus 60.7% (Bloomberg estimate: Rs 57.20%).
Net profit up 8.2% at Rs 313 crore versus Rs 290 crore (Bloomberg estimate: Rs 284.15 crore).
Thomas Cook Q1 FY25 (Consolidated, YoY)
Revenue up 10.9% at Rs 2,106 crore versus Rs 1,899 crore (Bloomberg estimate: Rs 2,297.8 crore).
Ebitda up 9.9% at Rs 136 crore versus Rs 124 crore (Bloomberg estimate: Rs 152.4 crore).
Margin flat at 6.5% (Bloomberg estimate: Rs 6.60%).
Net profit up 3.1% at Rs 73 crore versus Rs 71 crore (Bloomberg estimate: Rs 94.3 crore).
Tata Investment Corporation Q1 Highlights (Consolidated, YoY)
Revenue down 6% at Rs 142 crore versus Rs 152 crore.
Ebitda down 8.4% at Rs 131 crore versus Rs 143 crore.
Margin contracted at 91.9% versus 94.3%.
Net profit down 11.3% at Rs 131 crore versus Rs 148 crore.
Aster DM Healthcare Q1 Highlights (Consolidated, YoY)
Revenue up 19.1% at Rs 1,002 crore versus Rs 841 crore (Bloomberg estimate: Rs 980.55 crore).
Ebitda up 34.1% at Rs 164 crore versus Rs 122 crore (Bloomberg estimate: Rs 162.4 crore).
Margin expands at 16.3% versus 14.5% (Bloomberg estimate: Rs 16.60%).
Net profit up at Rs 5,152 crore versus Rs 20 crore due to disposal of business operations at Rs 5,148 crore (Bloomberg estimate: Rs 63.95 crore).
Earnings in Focus
Aditya Birla Capital, Adani Enterprises, Adani Ports and Special Economic Zone, Akzo Nobel India, Alkyl Amines Chemicals, Aptus Value Housing Finance, Arvind Fashions, Cleans Science and Technology, Dabur India, Emami, Escorts Kubota, Great Eastern Shipping, GHCL, Godrej Agrovet, G R Infraprojects, Indegene, ITC, Kalyan Jewellers, KSB, Max Healthcare Institute, Neuland Laboratories, NIIT Learning Systems, Orient Electric, Paradeep Phosphates, Prince Pipes and Fittings, Repco Home Finance, RattanIndia Power, Somany Ceramics, Sun Pharma, Tata Motors, Thermax, Tube Investments, Triveni Engineering, and Zomato.
Stocks To Watch
Infosys: The company is under a GST intelligence scanner for alleged evasion of over Rs 32,000 crore. Responding to the allegation, the company said it paid all its GST dues and is fully in compliance with the central and state regulations on this matter.
Tata Steel: The company will set aside Rs 17,347 crore as contingent liability in its financial statements, following a recent Supreme Court judgement that upheld the state government's power to levy cess on minerals. Besides, the steel maker's consolidated net profit rose 75% in the June quarter of fiscal 2025 but missed analysts' estimates as exceptional items weighed.
IT Stocks: IT stocks will be in focus at the back of the FOMC meeting.
Wipro: The company has secured a multi-year contract with global automotive supplier MAHLE to upgrade its IT infrastructure with hybrid cloud solutions.
IDBI Bank: Fairfax, NBD Emirates, and Kotak Mahindra Bank are said to be on the final list of bidders and have cleared RBI’s fit and proper checks, NDTV Profit reported.
Shriram Finance: The company executed a Master Agreement for loan co-lending to MSME borrowers under the co-lending scheme with the Central Bank.
Sansera Engineering: The company signed an MoU with Karnataka Udyog Mitra for the acquisition of 55 acres of industrial land in Bengaluru.
Barbeque-Nation Hospitality: The company has an has an additional 4.14% stake in Red Apple Kitchen.
Vedanta: The company received approval from BSE and the National Stock Exchange of India to split into six independent listed companies.
Bharat Forge: Subsidiary Kalyani Strategic Systems has received a defence license for the manufacture of various defence products at its Jejuri unit in Maharashtra. This will allow the company to participate in potential future defence programmes.
JK Lakshmi Cement: The board approved the composition of the scheme of amalgamation and arrangement amongst the company, Udaipur Cement Works, Hansdeep Industries & Trading Company, Hidrive Developers, and Industries.
IPO Offering
Akums Drugs and Pharmaceuticals: The public issue was subscribed to 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).
Ceigall India: The company will offer its shares for bidding on Thursday. The price band is set from Rs 380 to Rs 401 per share. The Rs 1,252.66 crore IPO is a combination of a fresh issue of Rs 684.25 crore and the rest of the offer for sale. The company has raised Rs 375 crore from anchor investors.
Bulk Deals
SIS: Capital Group Affiliates sold 62.26 lakh shares (4.31%) at Rs 415.02 apiece, while 360 One Mutual Fund A/C-360 One Focused Equity Fund bought 29.84 lakh shares (2.07%) at Rs 415 apiece, and Abu Dhabi Investment Authority Stable bought 21.95 lakh shares (1.52%) at Rs 415 apiece.
Protean eGov Technologies: Citicorp Finance (India) sold 6.6 lakh shares (1.63%) at Rs 1833.32 apiece.
Graphite India: Quant Mutual Fund sold 14.56 lakh shares (0.74%) at Rs 520 apiece.
Tanla Platforms: Ponguleti Harsha Reddy sold 7.74 lakh shares (0.57%) at Rs 990.42 apiece.
Pledge Share Details
Hatsun Agro Product: Promoter R. G. Chandramogan revoked a pledge for 63.73 lakh shares on July 30.
Sigachi Industries: Promoter Amit Raj Sinha created a pledge for 25 lakh shares on July 16.
Trading Tweaks
Ex/record Dividend: Greaves Cotton, Kirloskar Oil Engines, Hero MotoCorp, Karur Vysya Bank, MPS, Esab India, Tasty Bite Eatables, Oberoi Realty, Aditya Birla Sun Life AMC.
Ex/record AGM: Kirloskar Oil Engines, Hero MotoCorp, MPS, Bajaj Consumer Care, UGRO Capital, Esab India, Aditya Birla Sun Life AMC, Lyka Labs, Tips Industries.
Moved in short-term Framework: Ambika Cotton Mills, NRB Industrial Bearings, Nuvama Wealth Management, and PC Jeweller.
Moved out short-term Framework: Bhansali Engineering Polymers.
F&O Cues
Nifty August futures up by 0.42% to 25,013 at a premium of 62 points.
Nifty August futures open interest up by 5.48%.
Nifty Bank August futures up by 0.06% to 51,858 at a premium of 325 points.
Nifty Bank August futures open interest up by 25%.
Nifty Options August 1 Expiry: Maximum Call open interest at 25,500 and Maximum Put open interest at 24,500.
Bank Nifty Options August 7 Expiry: Maximum Call Open Interest at 51,500 and Maximum Put open interest at 51,500.
Securities in ban period: Granules, India Cements.
Money Market Update
The Indian rupee closed flat against the US dollar on Wednesday, ahead of policy announcements by the Federal Reserve.
The Indian currency closed at Rs 83.73 after opening at Rs 83.72 against the greenback, according to Bloomberg. It opened unchanged from Tuesday's close.
Research Reports
Ceigall India IPO - Investment Rationale, Issue Details, Financials, Risks And More: Anand Rathi
Jindal Saw - Consistent Margins Backed By Improved Capacity Utilisation, VAP Mix: Systematix
JSW Infra - Volume Growth Trajectory To Continue: Motilal Oswal
Avenue Supermarts - Continue To Focus On Providing Value To Consumer: Centrum
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