Stock Market Today: All You Need To Know Going Into Trade On Budget Day

Asia-Pacific markets were trading higher on Tuesday, tracking overnight gains on Wall Street. The Nikkei 225 was trading 0.27% higher, and the S&P ASX 200 was 0.56% higher as of 06:48 a.m.

The July futures contract of the GIFT Nifty was flat at 24,548 as of 06:57 a.m.

US stocks bounced back following their worst week since April, shifting focus away from Joe Biden's decision to end his reelection campaign and turning attention to the kickoff of the tech earnings season.

Mega-cap stocks led the rally, propelling the S&P 500 and Nasdaq 100 to rise 0.68% and 1.29%, respectively. The Dow Jones Industrial Average was trading 0.23% higher.

Brent crude fell 0.12% to trade at $82.30 per barrel, while the gold spot advanced 0.25% to $2,402.52 an ounce.

The Indian benchmark equity indices closed lower for the second consecutive session on Monday as investors look forward to the Union Budget 2024–25 and more corporate earnings.

The NSE Nifty 50 ended 21.65 points or 0.09%, down at 24,509.25, while the S&P BSE Sensex closed 102.57 points or 0.13%, down at 80,502.08. Intraday, both indices rose over 0.2%.

Overseas investors remained net buyers of Indian equities for the sixth consecutive session on Monday. Foreign portfolio investors mopped up stocks worth Rs 3,444 crore, and domestic institutional investors stayed net sellers for the fifth session and sold equities worth Rs 1,652 crore, according to provisional data from the National Stock Exchange.

The Indian rupee closed at a record low of 83.665 against the US dollar.

Cyient DLM Q1 FY25 (Consolidated, YoY)

• Revenue up 19% at Rs 258 crore versus Rs 217 crore (Bloomberg estimate Rs 262 crore).

• Ebitda up 1.5% at Rs 20.1 crore versus Rs 19.8 crore (Bloomberg estimate Rs 18.4 crore).

• Ebitda margin at 7.8% versus 9.1% (Bloomberg estimate 7%).

• Net profit up 96% at Rs 10.6 crore versus Rs 5.4 crore (Bloomberg estimate Rs 8.6 crore).

MRPL Q1 FY25 (Standalone, QoQ)

• Revenue down6.52% at Rs 23,247 crore versus Rs 25,329 crore.

• Ebitda down 74.1% at Rs 603 crore versus Rs 2,329 crore.

• Ebitda margin down 660 bps at 2.59% versus 9.19%.

• Net profit down 94.22% at Rs 65.57 crore versus Rs 1,136 crore.

Zensar Technologies Q1 FY25 (Consolidated, QoQ)

• Revenue up 4.7% at Rs 1,288 crore versus Rs 1,230 crore (Bloomberg estimates Rs 1,257 crore).

• EBIT down 4.4% at Rs 172 crore versus Rs 179 crore (Bloomberg estimates Rs 180.5 crore).

• EBIT margin at 13.3% versus 14.6% (Bloomberg estimates Rs 14.4%)

• Net profit down 8.9% at Rs 158 crore versus Rs 173 crore (Bloomberg estimates Rs 160 crore).

Greenlam Industries Q1 FY25 (Consolidated, YoY)

• Revenue up 17% at Rs 605 crore versus Rs 515 crore (Bloomberg estimate Rs 594 crore).

• Ebitda down 0.5% at Rs 64 crore versus Rs 64 crore (Bloomberg estimate Rs 80 crore).

• Ebitda margin at 10.6% versus 12.5% (Bloomberg estimate 13.5%).

• Net profit down 40% at Rs 20 crore versus Rs 33 crore (Bloomberg estimate Rs 34 crore).

Suzlon Energy Q1 FY25 (Consolidated, YoY)

• Revenue up 50% at Rs 2,022 crore versus Rs 1,351 crore (Bloomberg estimate Rs 2,132 crore).

• Ebitda up 78% at Rs 367 crore versus Rs 207 crore (Bloomberg estimate Rs 239 crore).

• Ebitda margin at 18.2% versus 15.3% (Bloomberg estimate 11.2%).

• Net profit up 200% at Rs 302 crore versus Rs 101 crore (Bloomberg estimate Rs 243.7 crore).

Bajaj Finance, DCM Shriram, Heritage Foods, Hindustan Unilever, ICICI Prudential, ICRA, Indoco Remedies, ICICI Securities, Kajaria Ceramics, Mahindra and Mahindra Financial Services, Schaffler India, Sharda Cropchem, SRF, Steel Strips Wheels, Thyrocare Technologies, Torrent Pharmaceuticals, and United Spirits.

• Oil India: The company signed a contract with Norway's Dolphin Drilling to hire Dolphin's drilling unit, Blackford.

• MRPL: The company appointed Yogish Nayak as CFO effective today.

• Gensol Engineering: The company has become the preferred bidder for 116 MW solar projects, with an EPC revenue of Rs 600 crore in Gujarat.

• Power Mech Projects: The Uttarakhand Government has revised the tender offer for hospital construction to Rs 594 crore from Rs 362 crore.

• Punjab And Sindh Bank: The company will be raising up to Rs 800 crore on July 26.

• Lemon Tree Hotels: The company signed licensing pacts for a 57-room hotel in Goa and a 44-room hotel in Punjab.

• Federal Bank: The RBI approved the appointment of Krishnan Venkat Subramanian as MD and CEO for three years, effective September 23. KV Subramanian earlier served as joint MD of Kotak Mahindra Bank.

• Reliance Industries: Reliance New Energy acquired the remaining 12.7% stake in Reliance Lithium for €3.7 million.

• Sanstar Limited: The public issue was subscribed to 13.48 times on day 2. The bids were led by institutional investors (1.29 times), non-institutional investors (32.85 times), and retail investors (12.15 times).

• Can Fin Homes: SBI Life Insurance Company bought 10 lakh shares (0.75%) at Rs 827.94 apiece.

• India Cements: Promoter EWS Finance and Investments created a pledge for 2.02 crore shares on July 20.

• Price band change from 20% to 5%: Alphageo (India)

• Price band change from 5% to 2%: Usha Martin Education & Solutions

• Ex/record Dividend: Shriram Finance, Tube Investments of India, TCPL Packaging, Shree Cement, Data Patterns (India), HCL Tech, Rainbow Children's Medicare.

• Ex/record AGM: Shriram Finance: Tube Investments of India, TCPL Packaging, Hindustan Zinc, GPT Infraprojects, Firstsource Solutions, Astec LifeSciences, Colgate Palmolive (India), Data Patterns (India), Rainbow Children's Medicare.

• Moved out short-term Framework: Gravita India, PC Jeweller, Vishnu Chemicals.

• Nifty July futures down by 0.05% to 24,509.1 at a premium of 0.15 points.

• Nifty July futures open interest down by 0.66%.

• Nifty Bank July futures up by 0.07 % to 52,286 at a premium of 6 points.

• Nifty Bank July futures open interest down by 7.71%.

• Nifty Options July 25 Expiry: Maximum Call open interest at 25,500 and Maximum Put open interest at 24,000. 

• Bank Nifty Options July 24 Expiry: Maximum Call Open Interest at 56,000 and Maximum Put open interest at 50,000.

• Securities in ban period: Bandhan Bank, Chambal Fertilizers, GNFC, HAL, India Cements, PEL, Sail.

The Indian rupee hit a fresh record low on Monday, amid rising crude oil prices and a decline in the dollar index.

The local currency closed at Rs 83.665 against the greenback, according to Bloomberg. It had opened flat at Rs 83.66 during the day.