Stock Market Today: All You Need To Know Going Into Trade On July 24

Markets in Asia-Pacific region fell Wednesday taking cues from the overnight move on Wall Street as earnings from Magnificent Seven technology company disappoints.

The Nikkei 225 was 20.51 points or 0.1% lower at 39,573.88, and the S&P ASX 200 was 16.30 points or 0.20% lower at 7,954.80.

US stocks faced resistance in gaining momentum as traders sifted through a flood of corporate results to gauge the market's ability to sustain this year's historic rally.

The S&P 500 rose 0.26% and the Nasdaq Composite sank over 0.16% and 0.06% as of Tuesday. The Dow Jones Industrial Average ended 0.14% lower.

Brent crude was trading 0.04% higher at $81.83 a barrel. Gold was flat at $2,409.83 an ounce.

The GIFT Nifty was trading 0.24% or 59.5 points lower at 24,411.5 as of 06:52 a.m.

India's benchmark stock indices extended losses for the third session Tuesday as shares of HDFC Bank Ltd. and Larsen & Toubro Ltd. dragged after India received its final budget for financial year 2025.

The NSE Nifty 50 settled 30.20 points, or 0.12% lower at 24,479.05, and the S&P BSE Sensex ended down 73.04 points, or 0.1% at 80,429.04.

Overseas investors turned net sellers of Indian equities on Tuesday after six days. Foreign portfolio investors offloaded stocks worth Rs 2,975.3 crore on the budget day, while domestic institutional investors stayed net buyers for the second session and mopped up equities worth Rs 1,418.8 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened by 3 paise to close at 83.69 against the US dollar.

Bajaj Finance Q1 FY25 (Consolidated, YoY)

• Net profit up 13.82% at Rs 3,912 crore versus Rs 3,437 crore.

• Total income up 28.8% at Rs 16,102 crore versus Rs 12,500 crore.

HUL Q1 FY 25 (Consolidated, YoY)

• Revenue up 1.4% at Rs 15,707 crore versus Rs 15,496 crore (Bloomberg estimate Rs 15,587 crore)

• Ebitda up 2.2% at Rs 3,744 crore versus Rs 3,665 crore (Bloomberg estimate Rs 3,690 crore)

• Ebitda margin at 23.8% versus 23.7% (Bloomberg estimate 23.7%)

• Net profit up 2.2% at Rs 2,612 crore versus Rs 2,556 crore (Bloomberg estimate Rs 2,601 crore)

Thyrocare Technologies Q1 FY25 (Consolidated, YoY)

• Revenue up 16.3% at Rs 157 crore versus Rs 135 crore (Bloomberg estimate Rs 155 crore)

• Ebitda up 23.5% at Rs 43 crore versus Rs 35 crore (Bloomberg estimate Rs 41 crore)

• Ebitda margin at 27.2% versus 25.6% (Bloomberg estimate 26.2%)

• Net profit up 38.8% at Rs 24 crore versus Rs 17 crore (Bloomberg estimate Rs 22 crore)

Torrent Pharma Q1 FY25 (Consolidated, YoY)

• Revenue up 10.3% at Rs 2,859 crore versus Rs 2,591 crore (Bloomberg estimate Rs 2,878 crore)

• Ebitda up 14.3% at Rs 904 crore versus Rs 791 crore (Bloomberg estimate Rs 909 crore)

• Ebitda margin at 31.6% versus 30.5% (Bloomberg estimate Rs 31.6%)

• Net profit up 20.9% at Rs 457 crore versus Rs 378 crore (Bloomberg estimate Rs 461 crore)

Schaeffler India Q2 FY 25 (Consolidated, YoY)

• Revenue up 15.2% at Rs 2,107 crore versus Rs 1,829 crore (Bloomberg estimate Rs 1,971 crore)

• Ebitda up 10.4% at Rs 377 crore versus Rs 342 crore (Bloomberg estimate Rs 358 crore)

• Ebitda margin at 17.9% versus 18.7% (Bloomberg estimate 18.2%)

• Net profit up 3.4% at Rs 245 crore versus Rs 237 crore (Bloomberg estimate Rs 244 crore)

ICICI Prudential Life Insurance Q1 FY25 (Consolidated, YoY)

• Value of new business up 7.8% Rs 472 crore versus 438 crores

• VNB Margin at 24% versus 30% YoY

• APE up 34.4% at Rs 1,963 crore versus Rs 1,461 crore

• VNB margin at 24% versus 30%

• PAT up 8.7% by 225 crore versus 207 crores.

ICICI Securities Q1 FY25 (Consolidated, YoY)

• Total income up 76% at Rs 1,644 crore versus Rs 934 crore

• Net profit up 94.5% at Rs 527 crore versus Rs 271 crore

Aditya Birla Sun Life AMC, Axis Bank, Bajaj Finserv, Bajaj Holdings, Bikaji Foods, CG Power, CMS Info System, Craftsman Automation, DCB Bank, Federal Bank, Go Fashion, HFCL, Indian Energy Exchange, IGL, Jindal Steel and Power, JK Paper, KPIT Tech, Karnataka Bank, Larsen and Turbo, Mahindra Lifespace Developers, MAS Financial Services, Oracle Financial Services, Petronet, PG ELectroplast, Hitachi Energy, Ramkrishna Forgings, SBI Life Insurance, SIS, Sona BLW Precision Forging, and Syngene International.

• SpiceJet: The company will raise up to Rs 3,000 crore via rights issues at Rs 818 per share.

• Suven Pharmaceuticals: The company received an observation letter with 'no adverse observations' from BSE and 'no observations' from NSE. Observations are for a scheme of amalgamation seeking the amalgamation of Cohance Lifesciences with the company.

• IOL Chemicals And Pharmaceuticals: EDQM issued a certificate of suitability for Valsartan tablets. Valsartan is used to treat high blood pressure.

• Titagarh Rail Systems: The company begins the export of traction converters with the first shipment to Italy.

• Shilpa Medicare: The company’s unit manufacturing facility in Karnataka received GMP certification from COFEPRIS- Mexico. The inspection was conducted from Nov. 6 to Nov. 10, 2023.

• Infosys: The company has signed a contract with UVC Partners to co-create next-generation solutions using AI and deep technology.

• MIC Electronics: Kalidindi Satyanarayana Raju resigned as CEO effective July 10 and appointed Rakshit Mathur as CEO effective Aug 1. The company also appointed Vivek Reddy Venumuddala as COO with immediate effect.

• South Indian Bank: The company is to consider fundraising on July 30.

• Bajel Projects: The company received an order worth Rs 568 crore from PowerGrid Corp. for a period of 23 months. The project includes a transmission system for the evacuation of power from Rajasthan.

• Tide Water Oil: The company has decided to change its name to Veedol Corporation.

• Sanstar Limited: The public issue was subscribed to 82.99 times on day 3. The bids were led by institutional investors (145.68 times), non-institutional investors (136.5 times), and retail investors (24.23 times).

• Elgi Equipment: Al Mehwar Commercial Investments L.L.C. sold 22.97 lakh shares (0.72%) at Rs 673 apiece.

• Price band change from 10% to 5%: Mahanagar Telephone Nigam,

• Ex/record Dividend: Indo Count Industries, Honeywell Automation India, Hatsun Agro Product, Fortis Healthcare, Avadh Sugar & Energy, Pidilite Industries, IFGL Refractories, Dynamic Cables, Elgi Equipments, Fiem Industries, Vinyl Chemicals.

• Ex/record AGM: Indo Count Industries, Honeywell Automation India, Camlin Fine Sciences, Pidilite Industries, Avadh Sugar & Energy, V-Mart Retail, IFGL Refractories, Dynamic Cables, Elgi Equipments, Fiem Industries, Balrampur Chini Mills, Vinyl Chemicals.

• Moved out short-term Framework: Titagarh Rail Systems, PNB Gilts.

• Nifty July futures down by 0.23% to 24,452.95 at a discount of 26.1 points.

• Nifty July futures open interest down by 5.4%.

• Nifty Bank July futures down by 1% to 51,765 at a discount of 13.3 points.

• Nifty Bank July futures open interest up by 1.22%.

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

• Bank Nifty Options July 24 Expiry: Maximum Call Open Interest at 53,000 and Maximum Put open interest at 50,000.

• Securities in ban period: GNFC, India Cements, Sail.

The Indian rupee weakened to a fresh record low against the US dollar on Tuesday after the government proposed a higher capital gain tax.

The local currency weakened 3 paise to close at a record low of Rs 83.69 against the US dollar after opening at Rs 83.64 on Tuesday. It closed at a record low of Rs 83.67 on Monday.