Stock Market Crash Highlights: Nifty, Sensex Resume Declines After One-Day Breather Amid Weekly F&O Expiry

• The Nifty 50 ended 112.10 points, or 0.46%, lower at 24,471.70.
• The Sensex declined 388.19 points, or 0.49%, to close at 78,154.25.

• NBCC’s consolidated net profit rose 17.2% year-on-year to Rs 155 crore, while revenue declined 5.6% to Rs 2,260 crore.
• Ebitda increased 39% to Rs 155 crore, while the Ebitda margin expanded to 6.9% from 4.7%. The company approved the incorporation of a subsidiary as a special purpose vehicle for a real estate investment trust.

• Balrampur Chini Mills’ consolidated net profit fell 14.5% year-on-year to Rs 44.1 crore, while revenue rose 6.2% to Rs 1,637 crore.
• Ebitda declined 14.7% to Rs 114 crore, while the Ebitda margin narrowed to 7% from 8.7%.

• Rail Vikas Nigam Ltd. (RVNL) reported a consolidated net profit of Rs 159 crore in Q1, up 17.8% from Rs 135 crore in the year-ago period.

• Revenue increased 10.5% year-on-year to Rs 4,321 crore from Rs 3,909 crore.

• EBITDA surged to Rs 184 crore from Rs 55.9 crore a year earlier.

• EBITDA margin expanded significantly to 4.3% from 1.4% in the corresponding quarter last year.

• Other income declined to Rs 141 crore from Rs 228 crore a year ago.

• Tax expense increased to Rs 64 crore from Rs 39 crore in the year-ago quarter.

• Despite lower other income and higher tax outgo, RVNL reported double-digit growth in revenue and net profit, aided by a sharp improvement in operating performance.

Source: Company Filing

• Sandhar Technologies reported a consolidated net profit of Rs 37.3 crore in Q1, up 33.1% from Rs 28 crore in the year-ago period.
• Revenue increased 26.8% year-on-year to Rs 1,382 crore from Rs 1,090 crore.
• EBITDA rose 27.7% to Rs 105 crore from Rs 82.4 crore a year earlier.
• EBITDA margin remained unchanged at 7.6% compared with the corresponding quarter last year.
• The company delivered strong growth in revenue, operating profit and net profit, while maintaining stable operating margins during the quarter.

Source: Company Filing

• Kalpataru Projects International reported a consolidated net profit of Rs 310 crore in Q1, up 44.9% from Rs 214 crore in the year-ago period.

• Revenue increased 3.8% year-on-year to Rs 6,408 crore from Rs 6,171 crore.

• EBITDA rose 7% to Rs 562 crore from Rs 525 crore a year earlier.

• EBITDA margin improved to 8.8% from 8.5% in the corresponding quarter last year.

• Other income surged to Rs 77 crore from Rs 16 crore a year ago, aiding the company's bottom-line growth.

• The company delivered steady revenue growth and margin expansion, while higher other income contributed to the sharp rise in net profit.

Source: Company Filing

• Siemens reported a consolidated net profit of Rs 2,143 crore in Q3, compared with Rs 423 crore in the year-ago period.

• Revenue increased 14.8% year-on-year to Rs 4,714 crore from Rs 4,108 crore.

• Profit from discontinued operations stood at Rs 1,800 crore, versus Rs 1 crore a year earlier, significantly boosting the bottom line.

• EBITDA declined 16.8% to Rs 431 crore from Rs 518 crore in the corresponding quarter last year.

• EBITDA margin contracted to 9.1% from 12.6%, indicating pressure on operating profitability despite higher revenue.

• The sharp rise in net profit was primarily driven by gains from discontinued operations, while core operating margins weakened during the quarter.

Source: Company Filing

• AvenuesAI reported a consolidated net profit of Rs 76 crore in Q1, up 24.6% from Rs 61 crore in the year-ago period.
• Revenue surged to Rs 2,680 crore from Rs 1,280 crore a year earlier, reflecting strong business growth.
• EBITDA increased 40% year-on-year to Rs 100 crore from Rs 71.4 crore.
• EBITDA margin stood at 3.7%, compared with 5.6% in the corresponding quarter last year, indicating margin pressure despite higher operating profit.
• The company delivered robust revenue growth and higher profitability, though margins contracted during the quarter.

Source: Company Filing

• Kusumgar reported a consolidated net profit of Rs 43 crore in Q1, compared with Rs 6.6 crore in the year-ago period.
• Revenue more than doubled to Rs 247 crore from Rs 122 crore a year earlier.
• EBITDA surged to Rs 75.2 crore from Rs 22.9 crore in the corresponding quarter last year.
• EBITDA margin expanded sharply to 30.4% from 18.8% a year ago.
• The company delivered strong growth across revenue, operating profit and net profit, backed by significant margin expansion during the quarter.

Source: Company Filing

• Venky's reported a Q1 net profit of Rs 50 crore, compared with Rs 16 crore in the year-ago period.
• Revenue increased 29% year-on-year to Rs 1,118 crore from Rs 866 crore.
• EBITDA surged to Rs 68.5 crore from Rs 13.5 crore a year earlier.
• EBITDA margin expanded significantly to 6.1% from 1.6% in the corresponding quarter last year.
• The company delivered strong growth in revenue and profitability, aided by a sharp improvement in operating performance during the quarter.

Source: Company Filing

• The Reserve Bank of India (RBI) has cancelled the Certificate of Registration (CoR) of 59 non-banking financial companies (NBFCs), according to a regulatory update cited by Bloomberg.
• Separately, four NBFCs surrendered their Certificates of Registration to the central bank on Aug. 11, 2026.
• The cancellations and surrenders form part of the RBI's ongoing supervision and regulatory oversight of the NBFC sector.
• An NBFC whose registration is cancelled cannot carry on the business of a non-banking financial institution unless specifically permitted by the RBI.
• The central bank periodically revokes registrations for reasons including non-compliance with regulatory requirements, voluntary exits, mergers, or cessation of business activities.

Source: Bloomberg, RBI

• Viraj Gandhi, CEO of SAMCO Mutual Fund, said July's mutual fund flow data reflected a clear risk-on shift, with retail investors increasingly favouring mid-cap and small-cap funds in pursuit of higher alpha.

• Equity mutual funds recorded net inflows of Rs 24,697 crore in July.

  • Small-cap funds led with inflows of Rs 7,768 crore, accounting for 31% of total equity inflows.
  • Mid-cap funds attracted Rs 6,192 crore, or 25% of equity inflows.
  • Along with multi-cap funds at Rs 3,227 crore, these categories accounted for 69% of total equity fund inflows.

• In contrast, large-cap funds saw outflows of Rs 1,322 crore, while flexi-cap inflows moderated to Rs 4,709 crore, about 40% below their 12-month average of Rs 7,888 crore.

• Value/Contra funds recorded outflows of Rs 145 crore, indicating a move away from defensive strategies.

• Within hybrid funds, total inflows stood at Rs 11,491 crore.

  • Arbitrage funds led with Rs 6,502 crore of inflows.
  • Balanced Advantage Funds saw outflows of Rs 252 crore.
  • Equity Savings Funds witnessed outflows of Rs 477 crore.
  • Multi Asset Allocation Funds attracted Rs 3,753 crore, though this remained below historical averages.

• Passive investment flows also softened, with total ETF and passive inflows at Rs 12,517 crore.

  • Index funds saw net outflows of Rs 59 crore.
  • Gold ETF inflows dropped sharply to Rs 1,559 crore, well below the 12-month average of Rs 6,022 crore.
  • Overseas FoFs recorded outflows of Rs 90 crore.

• Gandhi said the trend suggests investors view recent market concerns as largely priced in and are increasingly willing to take on domestic growth and small-cap risk rather than remain in defensive or diversified strategies.

Source: SAMCO Mutual Fund

• Knack Packaging reported 41% year-on-year growth in revenue from operations, while EBITDA increased 53% YoY.
• EBITDA margin improved to 22.35% from 20.65% in the corresponding period last year.

What Drove Growth?

• Higher sales volumes supported topline growth.
• Improved capacity utilisation aided operational performance.
• Expansion through both owned and rented facilities contributed to growth.

Demand Trends

• The company saw healthy demand from the grain and pulses segment.
• Demand from the animal food segment also remained strong.

Margins

• Management said it continues to closely monitor raw material prices.
• The focus remains on protecting margins amid volatility in input costs.

Capacity Expansion

• Manufacturing capacity has expanded to over 48,000 metric tonnes per annum.
• Additional rented facilities have helped augment production capabilities.

Management Commentary

• The company said this marks its first quarterly result following the IPO.
• Management sees opportunities to onboard globally recognised brands.
• Knack Packaging remains focused on customised packaging solutions across pack sizes ranging from 5 kg to 50 kg.

Source: Company Update

• Kusumgar said Kinnar Mehta has resigned as Chief Financial Officer (CFO), according to an exchange filing.
• The company disclosed the resignation through a regulatory filing and informed exchanges about the change in senior management.

Source: Exchange Filing

• Unichem Laboratories reported a consolidated net profit of Rs 41.5 crore in Q1, compared with a loss of Rs 10.5 crore in the year-ago period.
• Revenue increased 20.1% year-on-year to Rs 633 crore from Rs 527 crore.
• EBITDA rose sharply to Rs 70.6 crore from Rs 23.5 crore a year earlier.
• EBITDA margin expanded significantly to 11.2% from 4.5% in the corresponding quarter last year.
• The company delivered a strong turnaround in profitability, supported by robust revenue growth and improved operating performance.

Source: Company Filing

• Skipper reported a consolidated net profit of Rs 57 crore in Q1, up 26.7% from Rs 45 crore in the year-ago period.
• Revenue increased 4.5% year-on-year to Rs 1,310 crore from Rs 1,254 crore.
• EBITDA rose 9.4% to Rs 140 crore from Rs 128 crore a year earlier.
• EBITDA margin improved to 10.7% from 10.2% in the corresponding quarter last year.
• The company reported steady growth in revenue and profitability, supported by an expansion in operating margins during the quarter.

Source: Company Filing

• Fitch Ratings has affirmed India's sovereign credit rating at 'BBB-' with a Stable Outlook.
• The agency said the rating reflects India's robust medium-term growth prospects, strong economic resilience and a large, diversified economy.
• Fitch noted that the Indian economy continues to remain strong despite global headwinds and geopolitical uncertainties.
• The ratings agency has forecast FY27 GDP growth at 6.4%.
• Fitch added that risks remain from ongoing geopolitical conflicts and war-related uncertainties, which could impact global growth, inflation and trade flows.

Source: Fitch Ratings

• IDFC First Bank MD & CEO V. Vaidyanathan told NDTV Profit that a lot more needs to be done to build robust cybersecurity systems amid the rising threat of digital fraud and cyber attacks.
• He said cyber attacks remain a serious issue for the financial sector, adding that there are many "unknown unknowns" that institutions need to guard against.
• Vaidyanathan cautioned that the rapid advancement of artificial intelligence is creating new categories of cyber risks that banks and financial institutions must prepare for.
• However, he noted that AI can also be deployed as a defensive tool to detect threats, strengthen monitoring systems and improve cybersecurity frameworks.
• He said RBI Governor's observations on AI were appropriate, as the technology carries both risks and opportunities for the financial system.

• Viyash Scientific reported a consolidated net profit of Rs 66 crore in Q1, compared with Rs 32 crore in the year-ago period.

• Revenue increased 19.4% year-on-year to Rs 946 crore from Rs 792 crore.

• EBITDA rose 50.4% to Rs 179 crore from Rs 119 crore a year earlier.

• EBITDA margin expanded to 18.9% from 15% in the corresponding quarter last year.

• The board has approved an investment of up to Rs 400 crore in its subsidiary AAHL.

• The company delivered strong growth across revenue, operating profit and net profit, with a significant improvement in margins during the quarter.

Source: Company Filing

• Imagicaaworld told NDTV Profit that EBITDA margins for its mature parks are currently in the 42%-47% range.

• The company expects to maintain FY27 EBITDA margins of 42%-45% despite seasonal variations in footfalls.

• Management said monsoons and seasonality impacted Q1 footfalls, but expects an improvement in average revenue per user (ARPU) from Q2 onwards.

• Imagicaaworld aims to maintain a debt-to-EBITDA ratio of around 2.5x.

• The company said it will continue to focus on expanding its indoor entertainment business as part of its growth strategy.

• Management plans to launch one new park every year, supporting its long-term expansion roadmap.

• The company expects revenue to remain in the Rs 100-200 crore range in FY27 and sees growth driven by improved customer spends and expansion initiatives.

 

• Ukraine said it carried out an overnight attack on Russia's Orsk oil refinery, according to Bloomberg.
• The refinery is located in Russia's Orenburg region and is part of the country's oil processing infrastructure.
• The latest strike highlights the continuing escalation of attacks on energy assets amid the Russia-Ukraine conflict.
• Developments involving energy infrastructure are closely watched by markets due to their potential impact on global crude oil supply and prices.

Source: Bloomberg

• Lloyds Enterprises reported a consolidated net profit of Rs 58.6 crore in Q1, down 74.5% from Rs 230 crore in the year-ago period.

• Revenue surged 70.2% year-on-year to Rs 563 crore from Rs 331 crore.

• EBITDA jumped to Rs 88.3 crore from Rs 22.4 crore a year earlier.

• EBITDA margin expanded sharply to 15.7% from 6.8% in the corresponding quarter last year.

• The decline in net profit was largely due to a steep fall in other income, which dropped 85% to Rs 42.4 crore from Rs 282 crore a year ago.

• Despite lower profit, the company delivered strong operational performance with robust growth in revenue, EBITDA and margins.

Source: Company Filing

• Zydus Lifesciences reported a consolidated net profit of Rs 940 crore in Q1, down 35.9% from Rs 1,467 crore in the year-ago period.
• Revenue increased 22% year-on-year to Rs 8,017 crore from Rs 6,574 crore.
• EBITDA declined 7.6% to Rs 1,930 crore from Rs 2,089 crore a year earlier.
• EBITDA margin contracted sharply to 24.1% from 31.8% in the corresponding quarter last year.
• The company reported strong topline growth during the quarter, though profitability and margins came under pressure compared with the high base of the year-ago period.

Source: Company Filing

• Solar Industries futures have declined 1.62% to Rs 18,700, while open interest has surged 70% in the displayed October contract.
• The combination of a falling futures price and rising OI suggests fresh short positions.

• Persistent futures are up 0.51%, while OI has declined 0.17%.
• Delhivery futures have gained 0.79%, with OI down 0.17%.
• Both stocks show the price-up, OI-down combination associated with short covering.

• Hindalco futures have gained 1.35% to Rs 1,068.05, while open interest has declined 0.19%.
• The stock is part of the Short Covering bucket, indicating short covering.

• TCS futures have risen 0.21% to Rs 2,440, while open interest has declined 0.04%.
• The combination of a higher futures price and lower OI indicates short covering.

• Bajaj Auto futures have gained 0.57%, while OI has declined 0.03%.
• Bajaj Holdings futures are up 1.45%, with OI down 0.02%.
• Both stocks feature in the Short Covering list, indicating short covering.

• Divis Labs futures have gained 1.11% to Rs 8,396.50, while open interest has declined 0.01%.
• The stock is in the Short Covering bucket, where prices rise as OI falls.

• IndiGo futures have declined 1.30% to Rs 5,267.50, while open interest has fallen 0.18%.
• The price-OI combination points to long liquidation.

• Hindustan Unilever futures are down 0.58%, with OI lower by 0.05%.
• Cummins India futures have declined 0.82%, while OI is down 0.06%.
• Both stocks feature in the Liquidation list, pointing to long liquidation.

• ICICI Bank futures have declined 0.45% to Rs 1,428, while open interest has fallen 0.07%.
• The combination of lower price and lower OI points to long liquidation.

• Cipla futures are down 0.01%, while open interest has declined marginally in the displayed August contract.
• Cipla heads the visible Liquidation list, where falling prices are accompanied by lower OI.

• MCX futures have gained 1.89% to Rs 2,847.90, while open interest has increased 8.71%.
• The price-OI combination indicates fresh long positions.

• Idea futures have risen 2.62% to Rs 13.32, while open interest has increased 16.24%.
• The combination of a higher futures price and higher OI indicates fresh long positions.

• Naukri futures have gained 6.51% to Rs 1,365.60, while open interest has increased 17.24%.
• The price-OI combination indicates fresh long positions.

• Bosch futures are up 3.75% at Rs 45,625, while open interest has increased 24.32%.
• The simultaneous rise in price and OI indicates fresh long positions.

• Prestige futures have risen 2.26% to Rs 1,632.30, while open interest has increased 26.14%.
• The price-OI combination indicates fresh long positions.

• Oil futures have gained 4.18% to Rs 475.50, while open interest has increased 32% in the displayed October contract.
• The simultaneous rise in price and OI indicates fresh long positions.

• Zydus Life futures have gained 0.95%, while open interest has increased 32.26% in the displayed October contract.
• The higher price and higher OI combination indicates fresh long positions.

• Adani Green Energy tops the visible Accumulation list for the October contract, with futures price up 0.50% and open interest up 66.04%.
• The combination of a higher futures price and higher OI indicates fresh long positions.

• MRF shares fell 2.35% to Rs 1,30,700 after Q1 net profit declined 2.1% to Rs 474 crore. Revenue rose 9.7% to Rs 8,292 crore.
• Ebitda fell 8.2% to Rs 949 crore, while margin narrowed to 11.4% from 13.7% a year earlier.

• A parliamentary panel recommended that India conclude a trade agreement with the US at the earliest, citing the impact of the higher 18% tariff on Indian exports.
• The panel sought tariff parity for gems and jewellery, support for debt-stressed MSME exporters and steps to address trade barriers affecting chemicals, shrimp, textiles and auto parts. It also proposed a DGFT desk to track US tariffs and an emergency compensation mechanism for MSMEs facing price cuts from US buyers.

HDFC Bank has seen the largest Call OI increase in the supplied stock options data, with Call OI rising by 5,986 contracts.

Other significant Call OI additions include:

• BSE: 5,145
• SBI: 4,027
• Bharat Forge: 3,561
• Eicher Motors: 3,492
• Adani Enterprises: 3,099

• BSE has recorded a 5,145-contract increase in Call OI, the second-highest addition among the stocks in the supplied options data.
• Bharat Forge has added 3,561 Call contracts, while Eicher Motors has added 3,492 and Adani Enterprises 3,099.
• The data shows concentrated Call-side OI additions in these stock options.

• India’s mutual fund industry recorded a net inflow of Rs 2.36 lakh crore in July, compared with an outflow of Rs 52,949 crore in June, according to AMFI. Net assets under management rose to Rs 85.8 lakh crore from Rs 82.2 lakh crore.
• Active equity inflows declined to Rs 24,697 crore, while fixed-income schemes received Rs 1.87 lakh crore. Small-cap and mid-cap funds attracted Rs 7,768 crore and Rs 6,192 crore, respectively, while large-cap funds recorded an outflow of Rs 1,322 crore.

• Nifty is down 5.60% since the last expiry, compared with a 1.63% decline for Bank Nifty.
• Yet total OI has risen 196.87% for Nifty against 64.16% for Bank Nifty.
• Nifty's Call OI is up 232.18%, while Bank Nifty's has risen 85.71%.

Nifty Financial Services has recorded the largest increase in total OI among the four displayed indices, at 762.67% since the last expiry.

The corresponding changes are:

• Nifty: 196.87%
• Nifty Mid Select: 108.36%
• Bank Nifty: 64.16%

Nifty Financial Services also has the sharpest Call OI increase at 1,202.12%.

• Nifty's Call and Put OI have both risen sharply since the last expiry, while futures OI has declined.
• Call OI is up 232.18% and Put OI 182.18%, compared with an 8.73% decline in futures OI.
• Total OI has consequently risen 196.87% despite the index falling 5.60%.

• The supplied Nifty options dashboard shows a split in the largest OI concentrations.
• 24,500 has the highest Call OI at around 3.4 crore contracts, while 24,400 has the highest Put OI at roughly 1.9 crore.
• The adjacent strikes also carry substantial positioning, with 24,600 Call OI around 3.1 crore and 24,300 Put OI around 1.3 crore.

• The 58,000 strike has the largest visible Call and Put OI concentrations in the Bank Nifty options chain.
• Call OI is around 25 lakh contracts, while Put OI is around 16 lakh.
• At 57,000, Put OI is around 10 lakh, making it another significant Put-side concentration in the displayed chain.

• Oil futures are up 4.18% at around ₹475.50, while open interest has increased 32% in the displayed October series.
• The price and OI are rising together, placing Oil in the accumulation category.
• This indicates fresh long positions.

• Zydus Life futures are up 0.95%, while open interest has increased 32.26% in the displayed October series.
• The combination of a higher futures price and higher OI places the stock in the accumulation bucket.
• This indicates fresh long positions.

• Adani Green Energy features at the top of the Accumulation list, with futures price up 0.50% and open interest up 66.04% in the displayed October series.
• A separate September contract also shows a 14.98% increase in OI with the futures price up 0.33%.
• The higher price and OI combination indicates fresh long positions.

• Life Insurance Corporation of India has recorded a 14.63% increase in open interest in the displayed stock derivatives dashboard.
• The stock is up 3.75%, with the futures price at around ₹411.05.
• The combination of a higher futures price and higher OI places LIC in the accumulation bucket.

Nifty Mid Select has risen 12.05%, while total derivatives open interest has increased 108.36% since the last expiry.

The build-up includes:

• Futures OI: 3.54%
• Call OI: 154.27%
• Put OI: 151.76%

Both Call and Put OI have more than doubled over the period.

• Nifty Financial Services has recorded a 762.67% increase in total open interest since the last expiry, while the index is down 3.85%.
• Call OI has risen 1,202.12%, while Put OI has increased 798.47%. Futures OI is up 15.45%.
• The options segment accounts for the largest increase in the displayed derivatives positioning.

• Bank Nifty futures open interest has risen 22.70% since the last expiry, while the index is down 1.63%.
• Call OI has increased 85.71%, compared with a 51.64% rise in Put OI.
• The futures and options books have both added positions since the previous expiry.

Bank Nifty's total open interest has increased 64.16% since the last expiry, with the index down 1.63%.

The build-up comprises:

• Futures OI: 22.70%
• Call OI: 85.71%
• Put OI: 51.64%

Call OI has increased faster than Put OI over the period.

The 58,000 Put has the largest Put open interest in the visible Bank Nifty options chain at around 16 lakh contracts.

The next major Put OI concentrations are at:

• 57,000: around 10 lakh
• 57,200: around 10 lakh
• 57,500: around 6 lakh
• 56,500: around 4.5 lakh

The 58,000 Call carries the highest visible Call open interest in Bank Nifty at roughly 25 lakh contracts.

Other notable Call OI concentrations include:

• 57,500: around 15 lakh
• 57,200: around 16 lakh
• 57,300: around 15 lakh
• 57,900: around 8 lakh

The 58,000 strike remains the largest Call OI zone in the displayed chain.

• Nifty futures open interest has declined 8.73% since the last expiry, while Call OI has risen 232.18% and Put OI has increased 182.18%.
• The index itself is down 5.60% over the same period.
• The derivatives build-up is therefore concentrated in options rather than futures.

Nifty's total derivatives open interest has increased 196.87% since the last expiry, even as the index is down 5.60%.

The rise has come from:

• Call OI: 232.18%
• Put OI: 182.18%
• Futures OI: -8.73%

The options side has therefore seen a much larger increase in OI than futures.

• The largest Call and Put OI concentrations are clustered around the 24,400-24,600 strikes.
• Call OI is highest at 24,500, while Put OI is highest at 24,400. The adjacent 24,600 strike also carries more than 3 crore Call contracts.
• This makes the 24,400-24,600 zone the most active part of the visible Nifty options chain.

The 24,400 Put has seen the strongest increase in open interest among the visible strikes, with fresh OI addition of roughly 1.9 crore contracts.

Put OI has also increased materially around:

• 24,300
• 24,200
• 24,000
• 23,900

The activity shows significant Put-side positioning below the 24,500 strike.

Fresh Call OI addition is strongest around the 24,500 strike, where Call OI has increased by roughly 3 crore contracts over the selected one-week period.

The next notable Call OI additions are around:

• 24,600
• 25,000
• 24,400
• 24,300

This points to concentrated Call-side activity across the 24,400-25,000 strikes.

The 24,400 strike has the highest Put open interest at around 1.9 crore contracts on the Nifty options dashboard.

Other large Put OI positions are concentrated at:

• 24,300: around 1.3 crore
• 24,200: around 1.25 crore
• 24,500: around 80 lakh

The 24,400 strike is therefore the largest Put OI concentration in the current setup.

The 24,500 strike has the highest Call open interest at around 3.4 crore contracts, followed by 24,600 with about 3.1 crore. The concentration makes 24,500 the key Call OI zone in the dashboard.

Other notable Call OI positions are:

• 25,000: around 1.9 crore
• 24,700: around 1.3 crore
• 24,800: around 1.0 crore

• Pranav Gundapalle of Bernstein said loan growth and strong asset quality support banks, while margin downside appears limited. Higher-than-expected FCNR-B inflows could aid credit growth, though faster growth in term deposits may weigh on margins and CASA ratios.
• Bernstein expects liquidity and deposit growth to improve, with private banks likely to gain further market share. ICICI Bank and Axis Bank are its top picks, while it remains mildly positive on HDFC Bank. Gundapalle said Paytm’s earnings could rise 30% following the MDR revamp.

• HDFC Bank plans to raise up to $1 billion through a dollar bond sale, Bloomberg reported, citing people familiar with the matter. Federal Bank, Kotak Mahindra Bank, RBL Bank and Yes Bank are separately considering raising $250-500 million each through bonds or loans.
• The private lenders could collectively raise up to $3 billion by using the RBI’s concessional foreign-exchange swap facility, which offers a fixed annual rate of 1.5% for borrowings with an average maturity of at least three years.

• RBI Governor Sanjay Malhotra said financial stability, customer focus, ease of doing business and lower intermediation costs would guide regulation.
• Speaking at FIBAC, Malhotra said the RBI was making progress on these priorities. He added that improved supervision had strengthened the regulatory framework and reduced the regulatory burden on bank boards.

• HCLTech clarified that an initial investigation into reports of a data breach indicated that the data may be limited and several years old.
• The company said it found no evidence of a breach involving its systems or client engagements and is conducting a further investigation, according to an exchange filing.

• Vinay Jaising of ASK Private Wealth told NDTV Profit that strong demand supports auto ancillary companies, while aerospace and defence businesses continue to perform well. He said investors should focus more on export-oriented sectors.
• Jaising expects supply conditions to improve in Q2 from Q1. He said the broader market’s Q1 earnings were better, while consumption growth at non-bank lenders exceeded that at private banks.

Lemon Tree Hotels signed agreements for two properties, according to exchange filings. Lemon Tree Hotel in Madurai will have 100 rooms, while Keys Select in Mcleodganj will have 45 rooms.

• Flair Writing Industries will add a fourth production line at its steel bottle plant, according to an exchange filing.
• The line is expected to become operational by the fourth quarter of FY27 and increase manufacturing capacity by 35%.

• Jupiter Wagons Managing Director Vivek Lohia told NDTV Profit that the company is targeting revenue of Rs 10,000 crore in FY28. It expects to add orders worth Rs 3,000-4,000 crore and is targeting an order book of Rs 6,000-8,000 crore in the battery energy storage business.
• The company plans to execute its battery storage orders by FY28 and invest around Rs 3,000 crore in the wheelset business. It also expects orders from Indian Railways and growth in its private-sector order pipeline.

• The government reduced the incentive for electric two-wheelers to Rs 2,500 per kWh from Rs 5,000 and capped the subsidy at Rs 5,000 per vehicle, compared with Rs 10,000 earlier. The incentive applies to vehicles priced up to Rs 1.5 lakh at the factory level.
• The government allocated Rs 2,767 crore to support up to 45.79 lakh registered electric two-wheelers between April 1, 2025 and March 31, 2028. Claims must be submitted by Dec. 31, 2027.

• Lemon Tree Hotels Managing Director Neelendra Singh told NDTV Profit that average room rates continue to drive much of the company’s growth. The company expects demand to improve in Q2 and may exceed a 48% Ebitda margin in FY27.
• Lemon Tree plans to add 3,300 rooms by 2030. Singh said higher prices affected occupancy in Q1, while corporate travel has started to recover.

• Indian oil marketing companies are unlikely to reduce Russian crude purchases immediately and are monitoring the proposed US sanctions bill, according to sources. Refiners are expected to continue buying Russian oil as long as supplies remain commercially viable.
• Analysts said replacing Russian crude at current volumes would be difficult and could raise procurement costs. Refiners may increase purchases from Venezuela, the US, the UAE and Oman for supplies beyond September.

• The NSE Nifty 50 fell as much as 0.5% to 24,460.90
• The BSE Sensex fell as much as 0.5% to 78,114.77

Indraprastha Gas rose 0.38%, while GAIL gained 0.06% and Mahanagar Gas advanced 0.04%.

Meghmani Organics rose 1.18%. Coromandel International fell 1.08%, while Chambal Fertilisers declined 1.04% and Bayer CropScience slipped 0.95%.

Hindustan Petroleum and Indian Oil Corporation declined 1.44% each, while Bharat Petroleum fell 0.47%.

Premier Energies declined 0.84%, while Waaree Energies fell 0.52%.

• Vedanta Iron and Steel gained 4.81%, while Vedanta Aluminium rose 0.60% and Vedanta Ltd. advanced 0.30%.
• Vedanta Oil and Gas fell 0.38%, while Vedanta Power declined 0.14%.


 

Godfrey Phillips India fell 1.92%, while ITC declined 0.51% and VST Industries slipped 0.47%.

• Fractal Analytics rose 3.15%, followed by Birlasoft at 2.29%. Zensar Technologies and HCL Technologies gained 0.94% and 0.93%, respectively.
• Newgen Software fell 0.88%, while Happiest Minds declined 0.49% and KPIT Technologies slipped 0.46%.


 

• Goldiam rose 5.20%, followed by PC Jeweller at 3.77% and KDDL at 2.69%. Titan gained 1.46%, while Sky Gold advanced 1.30%.
• Renaissance Global fell 1.96%, Thangamayil Jewellery declined 1.09% and Kalyan Jewellers slipped 0.48%.


 

• David Roche of Quantum Strategy said India remains vulnerable to crude oil volatility, with global oil supply under pressure and refined-product markets tighter than crude markets. He said Russian oil sanctions had worsened the supply situation.
• Roche said Indian equities were not experiencing an artificial intelligence bubble and remained positive on the market, although he was cautious on global equities. He said investors could shift allocations towards commodities such as copper and gold.

• SBI Capital Markets will sell up to 87.81 lakh NSE shares through the IPO offer for sale. SBI has reduced its proposed sale to 1.60 crore shares from 2.48 crore shares.
• The SBI Group’s total offer remains unchanged at 2.48 crore shares, while the overall NSE IPO size will also remain the same.

• Nifty IT gained 0.86%, while Nifty Metal rose 0.18% and Nifty Realty advanced 0.07%.
• Nifty Financial Services fell 0.68%, followed by Nifty Bank at 0.62% and Nifty PSU Bank at 0.55%.


 

• The NSE Nifty 50 fell as much as 0.2% to 24,526.85
• The BSE Sensex fell as much as 0.3% or 252 points to 78,290.56

The Indian depreciated as much as 9 paise to 95.39 against the US dollar.

• Shivalik Bimetal Controls will see its price band change from 20% to 10%, while several other stocks also face tighter trading bands.
• Price Band change from 20% to 10%: SHIVALIK BIMETAL CONTROLS.
• Price Band change from 20% to 5%: ASHIKA GLOBAL SEC, ESAF SMALL FINANCE BANK, SPECTRUM ELECTRICAL, STALLION INDIA FLUOROCHEMICALS.
• Price Band change from 5% to 2%: RELIANCE INFRASTRUCTURE.

• Bandhan Bank and SAIL entered the F&O ban period, making their derivatives positioning relevant for traders during the session.
• Securities in ban period: BANDHANBNK & SAIL

Molbio Diagnostics' IPO was subscribed 0.83 times on Day 1, with QIB subscription reaching 1.00 times.

Molbio Diagnostics (Day 1)

• Overall subscription at 0.83x.
• QIB portion subscribed 1.00x.
• NII portion subscribed 0.73x.
• Retail portion subscribed 0.77x.

Dhoot Transmission's IPO was subscribed 0.63 times on its opening day, with the NII portion at 1.09 times.

Dhoot Transmission (Day 1)

• Overall subscription at 0.63x.
• QIB portion subscribed 0.06x.
• NII portion subscribed 1.09x.
• Retail portion subscribed 0.74x.

Leap India's IPO remained below full subscription on Day 2, with the overall issue subscribed 0.49 times.

Leap India (Day 2)

• Overall subscription at 0.49x.
• QIB portion subscribed 0.61x.
• NII portion subscribed 0.50x.
• Retail portion subscribed 0.41x.

• SBI Capital Markets will sell up to 87.81 lakh NSE shares through the IPO offer for sale, according to an addendum to NSE’s draft prospectus.
• SBI reduced its proposed share sale to 1.60 crore shares from 2.48 crore. The SBI Group’s total offer remains unchanged at 2.48 crore shares, with no change to the overall IPO size.

Technocraft Ventures' IPO was subscribed 4.73 times overall by Day 2, with the QIB portion at 4.50 times and NII portion at 6.48 times.

Technocraft Ventures (Day 2)

• Overall subscription at 4.73x.
• QIB portion subscribed 4.50x.
• NII portion subscribed 6.48x.
• Retail portion subscribed 4.12x.

Milky Mist Dairy Food's Rs 1,553 crore IPO opens today and will remain open through August 13, with the issue comprising a fresh issue and an offer for sale.

Milky Mist Dairy Food

• Total issue size of Rs. 1,553 Cr
• Mix represents fresh issue of Rs.1,428.00 crores and offer for sale of Rs.125.00 crores
• IPO opening on the 11th of Aug and closing on the 13th of Aug

Key financials

• Total Income: Rs 1,826.86 crore in FY24, Rs 2,354.79 crore in FY25 and Rs 3,145.01 crore in FY26.
• EBITDA: Rs 222.33 crore in FY24, Rs 310.35 crore in FY25 and Rs 435.22 crore in FY26.
• EBITDA Margins: 12.17% in FY24, 13.17% in FY25 and 13.83% in FY26.

Morgan Stanley said the MMDR Amendment Bill 2026 could be positive for miners if passed, including by restricting states' ability to impose mining-related taxes and cesses.

Morgan Stanley on Metal

• The MMDR Amendment Bill 2026 tabled; key positive for miners if passed
• Extends the Centre’s regulatory control from "mines" to "mineral bearing lands"
• Restricts States’ ability to impose mining-related taxes/cesses
• Pending/uncollected State levies would effectively be extinguished
• The Centre gets significant rule-making discretion

Morgan Stanley said cement demand has remained good and pricing trends have largely offset cost inflation, with post-monsoon demand the next key factor to watch.

Morgan Stanley on Cement

• Cement: Is the worst behind? Maybe
• Cement stocks have been underperforming the broader market, as the industry has been adversely affected by the Middle East conflict
• Demand has been good and sustained pricing trends have largely offset cost inflation
• Post-monsoon demand is key to watch

Macquarie retained its Outperform rating on Zydus Lifesciences and raised its target price to Rs 1,285 from Rs 1,260.

Macquarie

• Maintain Outperform; Hike TP to Rs 1285 from Rs 1260
• Near-term catalysts support long-term growth
• Recent capital allocation towards new businesses and assess the outlook for its existing segments
• Believe MedTech, Specialty, CDMO and D2C build-out is underappreciated
• Domestic business, generics exports well positioned to drive near-tem earnings growth while newer businesses build out

Kotak Securities initiated coverage on Fractal Analytics with a Buy rating and a Rs 1,000 target, citing its position in data, analytics and AI services.

Kotak Securities

• Initiate Buy with TP of Rs 1000
• Well positioned to be an AI services winner
• A leading pureplay in the data, analytics and AI services market
• Well positioned to benefit from accelerating enterprise AI adoption
• Fractal can become a strategic partner as AI becomes central to businesses
• Key risks: Concentration, AI progress, intensifying competition and deflation

Jefferies retained its Hold rating on Afcons Infrastructure but cut its target price to Rs 290 from Rs 305, citing execution and working capital concerns.

Jefferies

• Maintain Hold; Cut TP to Rs 290 from Rs 305
• Execution impacts Qtr; order flow a positive
• Working capital deterioration needs to be watched
• Slower execution due to delayed payments, adverse weather conditions, and labour shortages

Jefferies retained its Buy rating on PNB with a Rs 130 target and highlighted the bank's focus on direct loan origination and potential NIM expansion.

Jefferies

• Maintain Buy with TP of Rs 130
• MD & CEO of PNB highlighted that the bank is focusing on quality of loan growth
• Focusing through direct origination at fair-yields, instead of buyout or low-yielding corp loans
• NIMs can expand from Q1 levels & bank sees ROA of 1-1.1% over FY27-28
• ECL can be a slight drag, and we watch out for the start of next wage negotiations
• See 13% Cagr in loans & ROA of 0.9% in FY27

Jefferies retained its Buy rating on Entero Healthcare and raised its target price to Rs 1,800 from Rs 1,500, citing growth prospects in medtech.

Jefferies

• Maintain Buy; Hike TP to Rs 1800 from Rs 1500
• FY27 Begins with a Bang, upside risk to FY27 guidance
• Medtech - a key growth driver
• Over the next 3yrs, 20% revenue CAGR and 6% EBITDA margin look achievable
• Raise FY29E EPS by 10% on higher growth better margins

Morgan Stanley retained its Overweight rating on Bharat Forge and raised its target price to Rs 2,469 from Rs 2,233 after the June quarter.

Morgan Stanley

• Maintain Overweight; Hike TP to Rs 2469 from Rs 2233
• Weak Quarter, an Opportunity to Add
• Q1 was hit by issues that are transitory
• Highlights of the quarter: improvement in defence margins and increase in capex to capture upcoming manufacturing opportunities
• FY28e P/E is 42x; the auto supplier average stands at 38x while Industrial peers trade at ~49x

Goldman Sachs retained its Sell rating on Gland Pharma but raised its target price to Rs 2,125 from Rs 1,875 following the company's Q1 performance.

Goldman Sachs

• Maintain Sell; Hike TP to Rs 2125 from Rs 1875
• Q1 above: Margin performance healthy
• Cenexi turnaround progressing, albeit still early
• Hike FY27-29E EPS estimates by 8% to 10% to factor in the Q1 beat, revised guidance/business outlook by management
• Remain Sell on valuation

Bank of Baroda increased its three-month MCLR by 10 basis points to 8.30%, marking a change in its lending-rate structure.

TVS Motor has allotted NCDs worth Rs 1,000 crore through private placement, providing a fresh debt-market funding update.

TCS said it found no credible evidence of an employee data breach and added that no customer data or systems were impacted.

Texmaco Rail signed an MoU with Belgium's The Signalling Company NV for collaboration on ETCS and Kavach technologies.

RailTel received an order worth Rs 119 crore from the Department of Posts, adding to its order book.

Aegis Logistics has commissioned a 36,000 MT ammonia terminal at Pipavav, adding capacity at its logistics infrastructure operations.

CPPIB plans to invest up to Rs 3,000 crore in Prestige Estates' arm Prestige Hospitality and acquire up to 28% stake in the company.

Dilip Buildcon will sell Mekhali Power and DBL Renewable projects worth Rs 8,400 crore to Alpha Alternatives, alongside its approved fundraising plan.

Dilip Buildcon approved fundraising of up to Rs 2,000 crore through NCDs and other instruments, while also approving the sale of projects worth Rs 8,400 crore.

Precision Wires India plans to raise up to Rs 150 crore through debentures and has appointed Krina Parekh as Deputy CFO following CFO Mohandas Pai's retirement.

APAR Industries opened its QIP issue with a floor price of Rs 14,801.25 per share, putting the fundraising process in focus.

Lupin received US FDA approval for Sodium Zirconium Cyclosilicate, a drug used to treat hyperkalemia.

Jupiter Wagons has secured orders worth Rs 211 crore from JSW Port Logistics and Orissa Alloy Steel, adding a fresh order-flow trigger for the railway equipment maker.

BEL has secured orders worth Rs 541 crore since July 31, adding to the company's order flow update.

JSW Energy has added 1,166 MW of renewable capacity and 300 MW of inorganic thermal capacity since April, taking operational capacity to 14,920 MW.

• IRB Infra reported a 26% year-on-year increase in July toll revenue, providing a monthly operating update for the road infrastructure company.
• July toll revenue up 26% at Rs. 798 crore YoY.

JSW Steel reported higher total and India steel production in July, while production from its US operations declined year on year.

JSW Steel YoY

• Total steel production up 3% at 24 lakh tonnes versus 23.3 lakh tonnes.
• India production up 4% at 23.4 lakh tonnes versus 22.6 lakh tonnes.
• US operations production down 13% at 0.6 lakh tonnes versus 0.7 lakh tonnes.

Mahindra & Mahindra reported double-digit growth in July production, sales and exports, providing an early monthly operating update for the auto sector.

Mahindra & Mahindra YoY

• July production up 20% at 1,01,954 units.
• July sales up 25% at 1,02,710 units
• July exports up 47% at 4,159 units

PC Jeweller reported double-digit growth in revenue, EBITDA and net profit in the June quarter, with EBITDA margin expanding year on year.

PC Jeweller (Q1 FY27, Consolidated YoY)

• Revenue up 21% to Rs. 877 crore versus Rs. 725 crore.
• EBITDA up 90% to Rs. 242 crore versus Rs. 127 crore.
• EBITDA margin at 27.5% versus 17.6%.
• Net profit up 37.2% to Rs. 222 crore versus Rs. 162 crore.

PC Jeweller approved fundraising of up to Rs 1,000 crore through a qualified institutional placement, adding a capital-raising trigger to the stock.

SAIL said it is evaluating multiple fundraising options, including a qualified institutional placement and a follow-on public offer.

Brokerages highlighted softer margins and execution issues at Bharat Forge, while maintaining expectations for growth from exports and defence.

Jefferies

• Cut FY27-29 EPS by 4-16% on softer margins, some delay in execution of gun order, and higher capex

Goldman Sachs

• Q1 miss: Manpower shortages US PMT plant shutdown impacts profitability

Citi

• Q1 Results Slightly Below Estimates Due to Escalated Input and Energy Costs
• Acknowledge improving exports and better margins in the Indian subsidiaries

Bharat Forge drew mixed brokerage views, with Jefferies and Morgan Stanley retaining positive ratings while Goldman Sachs and Citi remained more cautious.

Jefferies

• Maintain Buy with TP of Rs 2500
• Cut FY27-29 EPS by 4-16% on softer margins, some delay in execution of gun order, and higher capex
• Still expect 30% EPS CAGR over FY26-29, led by rebound in exports and ramp-up of defense

Morgan Stanley

• Maintain Overweight; Hike TP to Rs 2469 from Rs 2233
• Q1 was hit by issues that are transitory
• Improvement in defence margins and increase in capex to capture upcoming manufacturing opportunities

Goldman Sachs

• Maintain Neutral with TP of Rs 2120
• Q1 miss: Manpower shortages US PMT plant shutdown impacts profitability
• See improving profitability and visibility on Defense and other adjacent businesses

Citi

• Maintain Sell; Hike TP to Rs 1210 from Rs 1060
• Q1 Results Slightly Below Estimates Due to Escalated Input and Energy Costs
• Demand Outlook Is Positive

Citi retained its Sell rating on Zee Entertainment while raising its target price to Rs 80 from Rs 75, citing the need for advertising recovery to support margins.

Citi

• Maintain Sell; Hike TP to Rs 80 from Rs 75
• Sports Drives Reach; Ad Recovery Critical For Margin Expansion
• Return to sports via FIFA and other football properties could be strategically positive
• Remain cautious given weak ad trends, rising investments and competitive intensity
• Will monitor execution in sports

Zee Entertainment reported higher revenue but lower EBITDA and net profit in the June quarter, while advertising revenue declined year on year.

Zee Entertainment (Q1 FY27, Consolidated YoY)

• Revenue up 4.5% to Rs. 1,908 crore versus Rs. 1,825 crore.
• EBITDA down 57.7% to Rs. 101 crore versus Rs. 239 crore.
• EBITDA margin at 5.3% versus 13.1%.
• Net profit down 47% to Rs. 76 crore versus Rs. 144 crore.
• Ad revenue down 12% to Rs. 671 crore versus Rs. 759 crore.
• Subscription revenue up 16% YoY to Rs. 1,137 crore.

Brokerages differed on Info Edge, with Citi raising its target to Rs 1,510, BofA raising its target to Rs 1,400 and Macquarie retaining Neutral with a Rs 1,000 target.

BofA

• Maintain Neutral; Hike TP to Rs 1400 from Rs 1330
• Q1: Steady quarter; Improving hiring trends likely to sustain
• 5% EBITDA beat vs Street; Business momentum improving
• Premium segment & newer AI initiatives aiding Naukri

Citi

• Maintain Buy; Hike TP to Rs 1510 from Rs 1400
• Several accelerants in recruitment billings
• Near-term, GCCs, better pricing power, and improved jobseeker monetization are supportive

Macquarie

• Maintain Neutral with TP of Rs 1000
• Recruitment revenue growth trails Billings
• Continue to see the risk of AI slowing velocity of jobs
• This will lead to a softer medium-term Billings/Revenue growth outlook
• See potential downside risk to consensus mid-teen revenue growth forecast

Citi retained its Buy rating on Info Edge and raised its target price to Rs 1,510 from Rs 1,400, citing improving recruitment billings and pricing power.

Citi

• Maintain Buy; Hike TP to Rs 1510 from Rs 1400
• Several accelerants in recruitment billings
• Near-term, GCCs, better pricing power, and improved jobseeker monetization are supportive
• Medium-term, premiumization in white collar jobs market should drive ARPU-led growth
• Long term, traction in the value segment (JobHai) and India/global jobs macro will be key

Vodafone Idea reported higher revenue and EBITDA sequentially, while the reported net loss reflected a sharp change in one-time gains.

Vodafone Idea (Q1 FY27, Consolidated QoQ)

• Revenue up 3.2% to Rs. 11,689 crore versus Rs. 11,332 crore.
• EBITDA up 3% to Rs. 5,034 crore versus Rs. 4,889 crore.
• EBITDA margin at 43.06% versus 43.14%.
• Net loss at Rs. 3,754 crore versus profit of Rs. 51,970 crore.
• One-time gain at Rs. 1,611 crore versus Rs. 57,491 crore.

JPMorgan retained its Underweight rating on Vodafone Idea with a Rs 9 target, while noting positive subscriber additions and the importance of bank funding.

JPMorgan

• Maintain Underweight with TP of Rs 9
• Net subs adds return to positive territory for the first time since merger
• ARPU growth was helped by seasonality (1 extra day)
• Bank funding remains crucial
• Capex declined 16% QoQ and came below estimates

• Options positioning for the August 11 expiry shows maximum Call open interest at 24,600, while the highest Put open interest is at 24,500.
• Nifty Options 11th Aug Expiry: Maximum Call open interest at 24,600 and Maximum Put open interest at 24,500.

• Nifty August futures were trading at a premium to the cash market ahead of the session, indicating the key index futures setup.
• Nifty Aug futures is up 0.03% to 24,662 at a premium of 79 points.

Gland Pharma reported higher revenue, EBITDA and net profit in the June quarter, with EBITDA margin also improving year on year.

Gland Pharma (Q1 FY27, Consolidated YoY)

• Revenue up 19.6% to Rs. 1,800 crore versus Rs. 1,506 crore.
• EBITDA up 32.8% to Rs. 489 crore versus Rs. 368 crore.
• EBITDA margin at 27.2% versus 24.4%.
• Net profit up 47% to Rs. 317 crore versus Rs. 216 crore.

Jefferies upgraded Gland Pharma to Buy from Hold and raised its target price to Rs 3,350 from Rs 2,080, citing improving US growth and signs that key challenges are easing.

Jefferies

• Upgrade to Buy from Hold
• Target price raised to Rs 3350 from Rs 2080
• Delivered a strong beat vs estimate, driven by 32% YoY growth in key US market
• FY27 growth can potentially reach 15% (cc) from earlier guidance of 12-13%
• Signed one major CDMO contract and in-licensed a large total addressable market differentiated product
• Sees Cenexi breakeven, new contract wins and expansion into complex products

S&P 500 futures traded marginally lower and Nasdaq-100 futures were near flat. Dow futures declined 37 points after the S&P 500 closed little changed on Monday amid uncertainty in the Middle East.

• US President Donald Trump told Axios that Washington was “only semi-negotiating” with Tehran and could maintain pressure through its naval blockade instead of launching another round of airstrikes.
• Iran said it was working with Oman on an arrangement to facilitate shipping through the Strait of Hormuz. Iranian Foreign Minister Abbas Araghchi said direct talks could not resume unless Washington complied with the June agreement and compensated Tehran for alleged breaches, according to Tasnim News Agency.

• Crude oil prices rose about 5% on Monday as expectations of a near-term US-Iran agreement to reopen the Strait of Hormuz weakened.
• West Texas Intermediate settled near $82.13 a barrel, while Brent crude ended around $87.72.

• Japan’s Nikkei 225 rose 2.08%, while Australia’s ASX 200 gained 0.20%. South Korea’s Kospi declined 0.96% and China’s Shanghai Composite slipped 0.01%.
• Investors assessed developments in the Middle East and the outlook for shipping through the Strait of Hormuz after oil prices rose in the previous session.

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,621.50.