Stock Market Today: All You Need To Know Going Into Trade On July 22
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Most Asian indices opened the week on a negative note, with Japan's Nikkei and South Korea's Kospi losing nearly 1%. Australia's S&P ASX 200 was 0.7% lower.
Globally, investors will look forward to developments over US presidential nominations and Japan's PMI data due this week.
The July futures contract of the GIFT Nifty was flat at 24,421 points.
India's benchmark stock indices declined on Friday, weighed down by Reliance Industries and Tata Steel. The NSE Nifty 50 ended 275.25 points, or 1.11% lower at 24,800.85, and the S&P BSE Sensex settled down 738.81 points, or 0.91%, to 81,343.46.
The indices rallied for seven straight weeks for the second consecutive session since Dec. 11, 2023.
Overseas investors remained net buyers of Indian equities for the fifth consecutive session on Friday. Foreign portfolio investors mopped up stocks worth Rs 1,506 crore, while domestic institutional investors stayed net sellers for the fifth session and sold equities worth Rs 462 crore, the NSE data showed.
The Indian rupee closed 3 paise lower at Rs 83.66 after against the US dollar.
Earnings Post Market Hours
Reliance Industries Q1 FY25 (Consolidated QoQ)
Revenue down 1.9% at Rs 2,31,784 crore versus Rs 2,36,533 crore (Bloomberg estimate: Rs 2,32,115 crore).
EBITDA down 8.8% at Rs 38,765 crore versus Rs 42,516 crore (Bloomberg estimate: Rs 39,789 crore).
EBITDA margin at 16.7% versus 17.9% (Bloomberg estimate: 17.1%).
Net profit down 17.9% at Rs 17,445 crore versus Rs 21,243 crore (Bloomberg estimate: Rs 17,416 crore).
Wipro Q1 FY25 (Consolidated, QoQ)
Revenue down 1% at Rs 21,964 crore versus Rs 22,208 crore (Bloomberg estimate: 22,237 crore)
EBIT up 1.8% at Rs 3,625 crore versus Rs 3,560 crore (Bloomberg estimate: Rs 3,543 crore)
EBIT margin at 16.5% versus 16% (Bloomberg estimate: 15.94%)
Net profit up 6.3% at Rs 3,037 crore versus Rs 2,858 crore (Bloomberg estimate: Rs 2,931 crore)
Kotak Mahindra Bank Q1 FY25 (Standalone, YoY)
Net profit up 81% at Rs 6,250 crore versus Rs 3,452 crore. (Bloomberg estimate: Rs 3,760.2 crore).
Net interest income up 10% at Rs 6,842 crore versus Rs 6,234 crore.
HDFC Bank Q1 FY25 (Standalone, QoQ)
Net profit down 2% at Rs 16,174.75 crore versus Rs 16,510 crore (Bloomberg estimate: Rs 15,652 crore).
Net interest income up 2% at Rs 29,837 crore vs Rs 29,080 crore.
JSW Steel Q1 FY 25 (Consolidated, YoY)
Revenue up 1.7% at Rs 42,943 crore versus Rs 42,213 crore (Bloomberg estimate Rs 42,333 crore)
EBITDA down 21.8% at Rs 5,510 crore versus Rs 7,046 crore (Bloomberg estimate Rs 5,781 crore)
EBITDA margin at 12.8% versus 16.7% (Bloomberg estimate 13.7%)
Net profit down 64.3% at Rs 867 crore versus Rs 2,428 crore (Bloomberg estimate Rs 1,280 crore)
Inventory writeback of Rs 2,195 crore in Q1FY23
Union Bank of India (Standalone, YoY)
NII up 6.3% at Rs 9,412 crore versus Rs 8,840 crore.
Profit up 13.6% at Rs 3,679 crore versus Rs 3,236 crore.
Gross NPA 4.5% versus 4.9% (QoQ).
Net NPA 0.9% versus 1.03% (QoQ).
JSW Energy (Consolidated, YoY)
Revenue down 1.7% at Rs 2,879 crore versus Rs 2,928 crore.
EBITDA up 25% at Rs 1,418 crore versus Rs 1,132 crore.
EBITDA margin at 49.2% versus 38.7%.
Net profit up 84% at Rs 534 crore versus Rs 290 crore.
Patanjali Foods Q1 FY25 (Standalone, YoY)
Revenue down 7.7% at Rs 7,173 crore versus Rs 7,767 crore.
EBITDA up 141% at Rs 406 crore versus Rs 168 crore.
EBITDA margin at 5.7% versus 2.2%.
Net profit up 199% at Rs 263 crore versus Rs 88 crore.
Indian Hotels Q1 FY25 (Consolidated, YoY)
Revenue up 5.7% to Rs 1,550 crore (Bloomberg estimate: Rs 1,580.5 crore).
EBITDA up 9.6% to Rs 450 crore (Bloomberg estimate: Rs 458.4 crore).
Margin expands to 29% versus 28% (Bloomberg estimate: 29%).
Net profit up 10% at Rs 260 crore (Bloomberg estimate: Rs 255.1 crore).
Oberoi Realty Q1 FY25 (Consolidated, YoY)
Revenue up 54% to Rs 1,405 crore versus Rs 910 crore (Bloomberg estimate: Rs 1,240.1 crore).
Ebitda up 72% to Rs 815 crore versus Rs 474 crore (Bloomberg estimate: Rs 712.7 crore).
Margin expands to 58% versus 52% (Bloomberg estimate: 57.5%).
Net profit up 82% to Rs 585 crore versus Rs 322 crore (Bloomberg estimate: Rs 515.8 crore).
ICICI Lombard GIC Q1 FY25 (Consolidated, YoY)
Total income up 16% at 5,352 crores versus Rs 4,540 crore.
Profit up 39% at Rs 580.4 crore versus Rs 390.4 crore (Bloomberg estimate Rs 519 crore).
PVR Inox Q1 FY25 (Consolidated, YoY)
Revenue down 8.8% at Rs 1,191 crore versus Rs 1,305 crore (Bloomberg estimate: Rs 1,292 crore).
EBITDA down 28.7% at Rs 252 crore versus Rs 353 crore (Bloomberg estimate: Rs 283 crore).
EBITDA margin at 21% versus 27% (Bloomberg estimate: 21.9%).
Net loss at Rs 179 crore versus loss of Rs 82 crore (Bloomberg estimate: net loss of Rs 165.57 crore).
Transformers And Rectifiers Q1 FY25 (Consolidated, YoY)
Revenue up 107% at Rs 322 crore versus Rs 156 crore (Bloomberg estimate: Rs 187 crore).
EBITDA up 867.7% at Rs 42.2 crore versus Rs 4.4 crore.
EBITDA margin at 13.1% versus 2.8%.
Net profit at Rs 20.8 crore versus loss of Rs 12.2 crore (Bloomberg estimate: Rs 4.5 crore).
Credit Access Grameen Q1 FY25 (Standalone, YoY)
Total income up 29% at Rs 1,513 crore versus Rs 1,171 crore.
Net profit up 15% at Rs 398 crore versus Rs 346 crore.
Tejas Networks Q1 FY25 (YoY)
Revenue up 730.68% at Rs 1,562 crore versus Rs 188.13 crore.
EBITDA at Rs 230.03 crore versus loss of Rs 46.03 crore.
EBITDA margin at 14.71%.
Net profit at Rs 77.48 crore versus loss of Rs 26.29 crore.
Supreme Petrochem Q1 FY25 (Consolidated, YoY)
Revenue up 28% at Rs 1,574 crore versus Rs 1,225 crore.
EBITDA up 78% at Rs 161 crore versus Rs 90 crore.
EBITDA margin at 10.2% versus 7.4%.
Net profit up 76% at Rs 122 crore versus Rs 69 crore.
Nippon Life AMC Q1 FY25 (Consolidated, YoY)
Total income up 35% at Rs 636 crore versus Rs 471 crore.
Net profit up 41% at Rs 332 crore versus Rs 236 crore (Bloomberg estimate: Rs 298 crore).
Route Mobile Q1 FY25 (Consolidated, QoQ)
Revenue up 8.5% at Rs 1,103 crore versus Rs 1,017 crore (Bloomberg estimate: 1,108 crore).
EBITDA down 1.3% at Rs 124 crore versus Rs 125 crore (Bloomberg estimate: Rs 136.5 crore).
EBITDA margin at 11.2% versus 12.3% (Bloomberg estimate: 12.3%).
Net profit down 14.7% at Rs 81 crore versus Rs 95 crore (Bloomberg estimate: 91.2 crore).
RBL Bank Q1 FY25 (Standalone, YoY)
Net profit up 29% at Rs 372 crore versus Rs 288 crore (Bloomberg estimate: 344.5 crore).
Net interest income up 20% at Rs 1,700 crore versus Rs 1,422 crore
YES Bank Q1 FY25 (Standalone, YoY)
Net profit up 46.4% at Rs 502.4 crore versus Rs 343 crore. (Bloomberg estimate: 376.4 crore).
Net interest income up 12.2% at Rs 2,243.9 crore versus Rs 2,000 crore.
Kirloskar Pneumatic Q1 FY25 (Consolidated, QoQ)
Net profit up 50% at Rs 27 crore versus Rs 18 crore.
EBITDA up 48% at Rs 39 crore versus Rs 27 crore.
EBITDA margin at 14.3% versus 11%.
Revenue up 13.7% at Rs 275 crore versus Rs 242 crore.
Poonawalla Fincorp (YoY)
Net profit up 45.6% at Rs 292 crore versus Rs 200 crore (Bloomberg estimate: Rs 286 crore).
Revenue up 40% at Rs 996 crore versus Rs 712 crore.
Gravita India (Consolidated, YoY)
Revenue up 29% at Rs 909 crore versus Rs 703 crore.
EBITDA up 50% at Rs 88 crore versus Rs 58 crore.
EBITDA margin at 9.7% versus 8.3%.
Net profit up 29.4% at Rs 68 crore versus Rs 53 crore.
Rossari Biotech Q1 FY25 (Consolidated, YoY)
Revenue up 19.3% at Rs 490 crore versus Rs 411 crore.
EBITDA up 12.4% at Rs 65 crore versus Rs 58 crore.
EBITDA margin at 13.3% versus 14%.
Net profit up 19.4% at Rs 35 crore versus Rs 29 crore.
Can Fin Homes (YoY)
Total income up 13% at Rs 931 crore versus Rs 824 crore.
Net profit up 8.8% at Rs 200 crore versus Rs 184 crore.
Earnings In Focus
Coforge, Cyient DLM, Dodla Dairy, Greenlam Industries, IDBI Bank, Indian Overseas Bank, Mahindra Logistics, Maharashtra Scooters, Mangalore Refinery & Petrochemicals, Poly Medicure, Supreme Industries, Suzlon Energy, UCO Bank, Zensar Technologies, ZF Commercial Vehicle Control System India.
Stocks To Watch
Vedanta: The company raised Rs 8,500 crore via QIP at a floor price of Rs 440 per share. The mining giant won the bid for critical mineral blocks in Karnataka and Bihar under Critical Mineral Auctions Tranche II and III, conducted by government.
JSW Infra: The company approved purchase of assets under construction at 30 MTPA slurry pipeline project in Odisha's Nuagaon mines from JSW Utkal Steel for Rs 1,700 crore. It also entered into a 20-year agreement at a cost of Rs 1,324 crore per annum for transport of iron ore slurry from Nuagaon to Jagatsinghpur.
IndusInd Bank: The company approved raising up to Rs 20,000 crore via debt securities on a private placement basis, and another Rs 10,000 crore via ADRs, GDRs or QIP.
IRCTC: The government upgraded the company to 'Schedule A' central public sector enterprise from 'Schedule B'.
Vodafone Idea: The company approved third tranche allotment of shares worth Rs 614.5 crore to Nokia India and Ericsson India. The shares to be allotted at an issue price of Rs 14.80 per share.
EMS: The company received an order worth Rs 140 crore from Uttarakhand Power Corp for the development of distribution infrastructure-loss reduction works in Uttarakhand.
Techno Electric & Engineering: The company raised Rs 1,200 crore via QIP at a floor price of Rs 1,440 per share.
SpiceJet: The company's auditor issued a 'Qualified Opinion' on FY24 accounts and flagged non-compliance with various laws and regulations.
Indian Bank: The central government extended the term of office of Shanti Lal Jain as managing director and chief executive officer effective Sept. 1 to Dec. 31.
HDFC Life Insurance: The company received a rectification order for tax demand revised from Rs 4,179 crore in March to Rs 1,868 crore.
Anant Raj: The company's unit entered into MoU with Google to provide AI-infused solutions for data infrastructure and security.
Mahindra & Mahindra: The automaker announced its latest SUV brand name, Mahindra 'Thar ROXX' to strengthen its Thar portfolio.
HDFC Bank: The lender's board has given the nod to start the initial public offering process of HDB Financial.
Shriram Properties: The company appoints Gopalakrishnan J, currently group chief financial officer, as executive director and group chief executive officer effective July 20.
HMA Agro Industries: The company entered into a three-year facility agreement with ALM Food Products and ALM Industries to expand business in the processing, freezing and packaging of buffalo meat.
Paisalo Digital: The company will consider raising funds through eligible securities like NCDs or other means on July 25.
KPI Green Energy: The company received a Letter of Award from MAHAGENCO for the development of a 100 megawatt solar power project in Maharashtra.
PC Jeweller: The Bank of Baroda accepted a one-time settlement proposal from company for unsettled dues. The terms include cash, equity, release of securities and mortgaged properties.
H.G Infra: The company received a letter from East Central Railway for a Rs 709 crore project in Bihar for construction of double line track.
IPO Offering
Sanstar Limited: The public issue was subscribed 4.16 times on day 1. The bids were led by institutional investors (0.05 times), non-institutional investors (9.85 times), retail investors (4.07 times).
Trading Tweaks
Ex/record Dividend: Divgi Torqtransfer Systems, Voltamp Transformers, Happy Forgings, Exide Industries, Carborundum Universal, Swelect Energy Systems.
Ex/record AGM: Happy Forgings, Voltamp Transformers, Exide Industries, Chembond Chemicals, Carborundum Universal, Swelect Energy Systems.
Moved in short-term Framework: Just Dial.
Moved out short-term Framework: Black Box, DCX Systems, Dynamic Services & Security, IFB Industries, JNK India, Krishna Defence and Allied Industries, Omaxe, Optiemus Infracom, Solara Active Pharma Sciences, Supreme Power Equipment, Suraj Estate Developers, Veranda Learning Solutions.
F&O Cues
Nifty July futures down by 1.13% to 24,529.1 at a discount of 1.8 points.
Nifty July futures open interest down by 6.22%.
Nifty Bank July futures down by 0.8% to 52,270.65 at a premium of 5 points.
Nifty Bank July futures open interest down by 5.97%.
Nifty Options July 25 Expiry: Maximum Call open interest at 25,500 and Maximum Put open interest at 23,500.
Bank Nifty Options July 24 Expiry: Maximum Call Open Interest at 56,000 and Maximum Put open interest at 52,000.
Securities in ban period: Balrampur Chini Mills, Bandhan Bank, GMR Infra, GNFC, HAL, Hindustan Copper, India Cements, PEL, RBL Bank, Sail, Vedanta.
Money Market Update
The Indian rupee ended flat at a record closing low on Friday amid steady crude oil prices, even as the Reserve Bank of India remained focused on controlling inflation as per its latest commentary.
The local currency closed flat at Rs 83.66 after having opened at Rs 83.63 against the greenback.
