Share Market Highlights 9 August 2024: Sensex and Nifty soar over 1%, top gainers Eicher Motors, ONGC

Benchmark equity indices Sensex and Nifty rebounded 1 per cent each on Friday following buying in blue-chips such as Reliance and Infosys amid a rally in global equity markets.

The 30-share BSE Sensex bounced back 819.69 points or 1.04 per cent to settle at 79,705.91 with 28 of its constituents closing in green and two in red. The index opened higher amid gains in Asian markets and later surged 1,098.02 points or 1.39 per cent to hit a high of 79,984.24.

The NSE Nifty soared 250.50 points or 1.04 per cent to 24,367.50. During the day, it rallied 302.75 points or 1.25 per cent to 24,419.75.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,626.73 crore on Thursday, according to exchange data. Global oil benchmark Brent crude climbed 0.03 per cent to $79.18 a barrel.

The BSE benchmark declined 581.79 points or 0.73 per cent to settle at 78,886.22 in a volatile trade on Thursday. During the day, it tumbled 669.07 points or 0.84 per cent to 78,798.94.

After a day’s breather, the NSE Nifty retreated to settle lower by 180.50 points or 0.74 per cent to 24,117. During the day, it tanked 217.8 points or 0.89 per cent to 24,079.70.

Tata Motors has received an order from Deputy Commissioner of State Tax, Adjudication 2, Ernakulam, levying penalty of ₹6,18,852 on account of excess availment of input tax credit under section 73 of the CGST/ SGST Act, 2017.

HDFC Life (-1.09%), Kotak Mahindra (-0.16%), Maruti (-0.12%), Sun Pharma (-0.10%)

Eicher Motors (5.68%), ONGC (3.05%), Shriram Finance (2.88%), Tata Motors (2.81%), Tech Mahindra (2.63%)

MMTC recorded its standalone net profit for the quarter ended June 2024 at ₹31.61 crore as against ₹2.82 crore in the corresponding quarter last year.

Stock trades flat at ₹100.35 on the NSE.

Engineers India recorded its standalone net profit for the quarter ended June 2024 at ₹54.77 crore as against ₹113.62 crore in the corresponding quarter last year.

Stock declined by 1.69% on the NSE, trading at ₹224.30

Wockhardt recorded its standalone net profit for the quarter ended June 2024 at ₹6 crore as against net loss of ₹115 in the corresponding quarter last year.

Stock surges 4.68% on the NSE to trade at ₹965.

Top gainers:

Eicher Motors (5.46%), ONGC (3.22%), Tech Mahindra (2.78%), Tata Motors (2.43%), Shriram Finance (2.28%)

Top losers:

HDFC Life (-1.03%), Kotak Mahindra (-0.25%), Britannia (-0.09%), Sun Pharma (-0.01%)

Stocks advanced on BSE at 3 pm on August 9, 2024, were 2,304 against 1,561 stocks that declined; 122 stocks remain unchanged. Total stocks traded were 3,987. The number of stocks that recorded a 52-week high was 235, and those that hit a 52-week low was 28. 

In addition, 276 stocks traded in upper circuit and 219 stocks hit the lower circuit.

The shares of Coffee Day Enterprises Limited were trading at ₹46.49, down by 2.58 points (5.26 per cent) on NSE at 2 pm on Friday.

On Thursday, Coffee Day Enterprises Limited (CDEL) disclosed that the National Company Law Tribunal (NCLT) in Bengaluru has admitted an application filed by IDBI Trusteeship Services Limited against the company. The application, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiates the Corporate Insolvency Resolution Process (CIRP) for a sum of ₹ 2,28,45,74,180.

Berger Paints (I) recorded its standalone net profit for the quarter ended June 2024 at ₹305.52 crore as against ₹326.32 crore in the corresponding quarter last year.

Stock trades flat ₹519.50 on the NSE.

The Nifty-50 Index and Sensex declined around 1.5% each in the past week, while the mid-cap index lost around 1.3% and small-cap index lost 2% underperforming large-caps. Market focus has swiftly moved on from the Union Budget, unveiled in the week, to the ongoing QFY25 earnings season and global factors. The market performance was impacted by a confluence of global factors, such as (1) a sharper-than-expected weakening of the US labor markets, (2) a sharp appreciation of USD-JPY, resulting in the unwinding of Yen carry trades globally and (3) increase in geo-political tensions in the Middle East.

Sectoral indices were largely negative a week-on week basis except for Nifty FMCG, Pharma and Media. Sectoral indices like Capital goods, Consumer Durable, Auto, Metal, Reality, Power and oil and gas list between 1 to 3%. While Bank Nifty was also weak falling around 1.5% during the week. Within the Nifty Index, Cipla (+3.1%), Eicher Motors (+2.4%) and JSW Steel (+1.6%) gained the most, while Titan (-4.4%), Hindalco (-4.3%) and Asian Paints (-4.3%) lost the most. Meanwhile, FPIs were net sellers and DIIs were net buyers in the same period. On the economy front, the RBI kept rates unchanged while broadly retaining its FY2025 growth (7.2%) and CPI inflation (4.5%) projections. Going forward, D-street will focus on the macro trends, inflation and global situation including geo-political concerns.

In Global news, in US, the Federal Reserve has indicated a cut in the bank interest rates before September and has expressed concern about the sudden unemployment jump and stagnant consumer spending. The US labour market cooled more than expected in July, adding 114,000 jobs as the unemployment rate rose. Benchmark 10-year Treasury, a crucial barometer for expectations on the US economy, fell below 4 per cent for the first time in six months. In Europe, German yields came down to the lowest in seven months on the speculation that the European Central Bank might follow the Fed and announce deeper interest-rate cuts. On the data front, final July inflation prints are expected from Germany and Italy. In Asia, China’s consumer prices rose by a more-than-expected 0.5% in July from a year ago, according to data from the National Bureau of Statistics on Friday.

“Net equity flows were a tad lower compared to June. The inflow could be attributed to NFO listing and SIP inflows. Most of the lumpsum purchase seem to be through the NFO route”

“In July 2024, equity inflows declined by 9% to Rs 37,113.39 crore, yet the positive trend continues for 41 months, reflecting strong investor confidence. Sectoral/thematic funds contributed Rs 18,386.35 crore, while Multi-cap funds attracted Rs 7,084.61 crore, indicating a shift in investor preference towards categories with higher alpha potential.”

Majority of stocks that hit a 52-week high on the NSE 

Trent (10.24%), Orchid Pharma (9.55%), Suzlon (4.99%), MCX (4.91%), Oil India (4.85%)

“I am very excited to know that mutual fund industry is growing rapidly. In July ‘24, the industry AUM reached to 64.97 lakh crs as against Rs.61.16 lac crores in June, ‘24, increased by 3.81 lakh crs, out of which Equity AUM increased by Rs. 2.37 lakh crs. The major net inflow of Rs.18,386 crs was in Hybrid category. We feel retail investors are now understanding that volatility is part of long-term wealth creation journey. The share of financial assets has been increasing rapidly and within financial assets, mutual fund market share is relatively high. Mutual fund plays a key role in enabling wealth creation for individual investors and providing tools for long term financial planning. I am sure that mutual fund industry will surpass milestone trillion AUM and 100 million Investors in next 3 to 4 years’ time.”

Info Edge (India) recorded its standalone net profit for the quarter ended June 2024 at ₹232.29 crore as against ₹199.90 crore in the corresponding quarter last year.

Stock trades flat on the NSE at ₹6,973.45.

Info Edge (India) has appointed Aayush Rathi as Senior Vice President - Revenue Growth Strategy in Revenue Growth Naukri with effect from August 12, 2024.

Granules India Limited announced today that the US Food & Drug Administration (FDA) has approved its Abbreviated New Drug Application for Trazodone Hydrochloride Tablets USP in 50 mg, 100 mg, 150 mg, and 300 mg strengths. The tablets are bioequivalent to Pragma Pharmaceuticals’ Desyrel Tablets and are indicated for treating major depressive disorder in adults.

Sinclairs Hotels board has approved acquisition of two new properties in Rajasthan on lease – Sinclairs Palace Retreat Udaipur and Sinclairs Udaipur, marking the first footsteps of the Company in North India.

Stock declines 2.09% on the BSE to trade at ₹100.95

Eicher Motors (5.98%), Tata Motors (3.04%), Exide Industries (2.72%), Tata Motors DVR (2.55%), Ashok Leyland (2.31%)

Thomas Cook (India) Limited has announced the launch of an AI-powered platform for bookings.

Stock rises 1.38% on the NSE, trading at ₹209.95.

Ashoka Kandi Ramsanpalle Road Private Limited (SPV), wholly-owned subsidiary of Ashoka Buildcon, has completed the NHAI Project Four laning of NH-161 from Kandi (Design Km 0.000) (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.980/Existing Km 44.757) (Design Length = 39.980 Km) in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode.

Ashoka Buildcon stock is up 1.12% on the NSE, trading at ₹239.95.

Tata Chemicals board has decided the terms of issue of NCDs: 1,70,000 NCDs of face value ₹1,00,000 each aggregating to ₹ 1,700 crore.

Tata Chemicals stock rises 1.24% on the BSE, trading at ₹1,034.55

Coffee Day Enterprises stock fell 3.93% on the BSE, trading at ₹47.16. Company had said that the application filed by IDBI Trusteeship Services Ltd against the company in National Company Law Tribunal (NCLT), Bengaluru, has been admitted under Section 7 of Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) for ₹2,28,45,74,180. Further, the company is planning to take the required legal action in this regard, it said.

Utkarsh Small Finance Bank stock trades flat at ₹48.80 on the NSE on receipt of approval to increase the authorised capital from ₹1,500 crore to ₹2,000 crore.

Spandana Sphoorty Financial’s board has approved the issuance of NCDs of face value of ₹1 lakh each for an amount aggregating to ₹50 crore on private placement basis. 

Stock is up 1.24% on the NSE, trading at ₹602.65.

Top gainers:

Eicher Motors (4.78%), Grasim (3.35%), Shriram Finance (2.95%), Tata Motors (2.82%), HCL Tech (2.60%)

Top losers:

Hindustan Unilever (-0.32%), Asian Paints (-0.30%), HDFC Life (-0.22%), Bajaj Auto (-0.07%), Titan (-0.01%)

Stocks advanced on BSE at 12 noon on August 9, 2024, were 2,429 against 1,312 stocks that declined; 137 stocks remain unchanged. Total stocks traded were 3,878. The number of stocks that recorded a 52-week high was 212, and those that hit a 52-week low was 20. 

In addition, 237 stocks traded in upper circuit and 202 stocks hit the lower circuit.

Granules India Limited has received USFDA’s Abbreviated New Drug Application (ANDA) approval for Trazodone Hydrochloride Tablets USP, 50 mg, 100 mg, 150 mg, and 300 mg.

Stock rises 1.84% on the NSE, trading at ₹664.85.

Top gainers of Nifty IT stocks:

Mphasis (3.43%)

HCL Tech (2.70%)

Persistent Systems (2.24%)

Tech Mahindra (2.15%) 

TCS (1.72%)

Godrej Properties Ltd emerged as highest bidder in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for Residential Group Housing Plots, where GPL has emerged as the highest bidder for 2 land parcels with a total combined bid value of ₹842 crore, according to the e-tendering portal of SBI.

Godrej Properties stock is up 2.21% on the NSE, trading at ₹2,940.

The United Forum of IDBI Officers and Employees has urged the Department of Investment and Public Asset Management (DIPAM) to take up with the Centre the issue of the proposed sale of IDBI Bank to private/foreign players and ensure its share in the bank doesn’t come below 51 per cent. It raised a charter of demands in a memorandum submitted to the DIPAM on Thursday. Earlier, constituents All-India IDBI Officers Association and All-India Industrial Development Bank Employees Association held a dharna in front of Jantar Mantar, New Delhi, as part of protests as far back as 2021 against the Centre’s move.

Company’s shares have given an 8-month breakout today.

Company has approved the augmentation of its shop floor capacity at the manufacturing facility located in Dahej, Gujarat. BoD has sanctioned an amount of approximately INR 29.3 Cr as capital expenditure for this project. The expansion will be completed over a period of 15 months and will be financed through internal accruals. Company currently has an existing shop floor area of 20,000 square meters, with a proposed capacity addition of 6,000 square meters.

Ajay Shiv Narayan Upadhyaya bought 1.6L shares at INR 340/share, aggregating to INR 5.4 Cr.

For the quarter ending Jun-24, Sales up 34% YoY from INR 128 Cr in Jun-23 to INR 171 Cr in Jun-24. Similarly, Net Profit up 50% from INR 8 Cr to INR 12 Cr. On a QoQ basis, Sales down 3% and Net Profit remained flat.

OLAELEC

NSE: ₹ 76.00

BSE: ₹ 75.99

Issue Price: ₹ 76.00

Net Change: ₹ 0.00

%Change: Nil

Ola Electric Mobility Ltd., the electric vehicle pioneer, made a its debut on the stock market, listing at its issue price of Rs. 76 per share. This flat performance, coupled with a mere 4.45 times subscription, underscores the challenges the company faces in gaining investor confidence.

While Ola Electric’s vision for the EV market is ambitious, the company’s current financial performance, marked by consistent losses, and the highly competitive landscape have tempered investor enthusiasm. The negative grey market sentiment prior to listing further reflected these concerns.

The flat listing highlights the need for Ola Electric to demonstrate a clear path to profitability and navigate the complexities of the EV market effectively. Investors are suggested to exit and book a minor profit, but those who want to take risks may hold their position by keeping a stop loss below 70.

Kirloskar Ferrous Industries Limited (KFIL) and Indian Seamless Metal Tubes Limited (ISMT) announced that they will commence operations as a merged entity on August 9, 2024.

This merger marks a significant milestone in KFIL’s strategic growth plan. The consolidation aims to leverage synergies, enhance operational efficiency, and create long-term value for all stakeholders. The merged entity will benefit from an expanded product portfolio, increased market reach, and improved financial strength.

NBCC (India) has secured contract from Srinagar Development Authority for the development of satellite township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar ( J&K). The contract is worth ₹15,000 crore.

Stock jumps 7.33% on the NSE, trading at ₹181.47

Bank Nifty began today’s session with a gap-up at 50,612 versus yesterday’s close of 50,157. It slightly dipped after opening and is currently at 50,580, up 0.85 per cent at the end of the first hour of today’s trade.

All 12 stocks in the index are in the green led by IDFC First Bank, gaining 1.6 per cent. This is followed by Federal Bank, which has advanced 1.4 per cent. 

Defence PSU Garden Reach Shipbuilders & Engineers Limited (GRSE) posted a year-on-year (Y-o-Y) growth of 13 per cent in Profit After Tax (PAT) to ₹87 crore for the first quarter of FY25 as against ₹77 crore for the same period in FY24.

The GRSE, however, had reported PAT at ₹112 crore in Q4 of FY 24.

In a significant development, state-run GAIL said on Thursday that it has signed a MoU with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to explore the possibility of transferring RRVUNL’s two gas-based power plants to a proposed joint venture company (JVC).

Hewlett Packard Enterprise (HPE) has announced that Berger Paints has selected HPE Aruba Networking EdgeConnect SD-WAN solution to optimise its wide area network (WAN) connectivity across its 160 branches in India, including data centres, disaster recovery sites, and headquarters.

Bayer CropScience Limited has reported a 22.6 per cent drop in net profits for the June quarter on lower revenues. The company reported a net profit of ₹254.2 crore for the quarter that ended June 2024 over the same period as last year’s ₹328.5 crore.

Revenue from operations were down 6 per cent at ₹1631.2 crore, compared to ₹1739.6 crore in the corresponding period last year. Profit before tax for the quarter stood at ₹315.8 crore, compared to ₹406.1 crore in the corresponding quarter of the previous financial year.

Nitco Ltd has sold a prime land parcel located in Kanjurmarg East to Runwal for ₹232 crore. The land parcel, spanning 16,250 square meters or four acres, is a strategic asset with significant potential, the company said.

Naveen Jindal-promoted Jindal Steel, one of the largest steel producers in the country, will strategically diversify its coking coal sources to reduce geographical risks and cost pressures. The company will decrease its reliance on Australian coking coal imports while procuring from other regions across Africa and Southeast Asia.

Nifty 50 is trading higher. The index touched a high of 24,419 at the opening trades and has come down slightly from there. It is currently trading at 24,370, up 1 per cent. The advances/declines ratio is at 47:3. This is positive. If this trend sustains, then it can aid Nifty to get a decisive rise and close above 24,400 today. We will have to wait and see.

Rupee appreciated 8 paise to 83.89 against US dollar in early trade on Friday, supported by a positive trend in domestic equities and a decline in the US dollar index.

Forex traders said post the Reserve Bank of India’s monetary policy announcement, markets now await for US CPI data, India CPI, WPI and IIP data and India’s trade data all scheduled to be released next week.

JSW Steel, in a press release, announced a 9 per cent year-over-year increase in its consolidated crude steel production for July 2024, reaching 22.15 lakh tonnes. The company’s India operations saw a 13 per cent growth, producing 21.40 lakh tonnes of crude steel.

Top gainers on the BSE as at 10.30 am: 

AIIL (13.01%), Edelweiss (8.79%), Kfin Tech (8.29%), Avanti Feeds (6.89%), ITD (5.89%) 

Top losers: 

Bayer Corp (-5.35%), MTNL (-4.81%), IFCI (-4.66%), JP Power (-4.35%), Timken (-4.24%)

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JSW Steel reported consolidated Crude Steel production for the month of July’24 at 22.15 Lakh tonnes. The total Crude Steel production was higher by 9% YoY. 

Stock rises 1.14% on the NSE, trading at ₹897.65.

Excel Industries informed that inspection and search have been initiated by Maharashtra Goods & Service Tax Department, Investigation B, Mumbai on August 8, 2024, under section 67 of the Maharashtra Goods & Service Tax Act, 2017, at our registered office situated at 184-87, S. V. Road, Jogeshwari West, Mumbai-400102.

Excel Industries stock trades flat at ₹1,419.90.

HCLSoftware, the software business division of HCLTech, has announced its intent to acquire Zeenea, an innovator in data catalog and governance solutions based in Paris, France.

HCLTech stock rises 2.26% on the NSE, trading at ₹1,593.10.

Nitco Ltd has sold a prime land parcel located in Kanjurmarg East to Runwal for ₹232 crore. The land parcel, spanning 16,250 square meters or four acres, is a strategic asset with significant potential, the company said.

Top gainers on the NSE as at 9.30 am:

Eicher Motor (3.83%), ONGC (3.67%), BPCL (2.61%), LTIMindtree (2.50%), Tech Mahindra (2.49%)

No stocks were trading in the negative territory among nifty 50 pack

Crude oil futures traded higher on Friday morning as China’s inflation data indicated some improvement in its economy. At 9.23 am on Friday, October Brent oil futures were at $79.27, up by 0.14 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $76.31, up by 0.16 per cent. August crude oil futures were trading at ₹6418 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹6422, down by 0.06 per cent, and September futures were trading at ₹6330 against the previous close of ₹6334, down by 0.06 per cent.

(Nirmal Bang Retail Research) 

Result is ok 

Revenue from Operations came at Rs. 201.2 Cr (5.6% QoQ, 42% YoY) vs QoQ Rs. 190.5 Cr, YoY Rs. 141.7 Cr 

EBIDTA came at Rs. 35.9 Cr (3.9% QoQ, 37.7% YoY) vs QoQ Rs. 34.5 Cr, YoY Rs. 26.1 Cr 

EBITDA Margin came at 17.8% vs QoQ 18.1%, YoY 18.4% 

Adj. PAT came at Rs. 15.9 Cr vs QoQ Rs. 15.5 Cr, YoY Rs. 11.6 Cr 

Quarter EPS is Rs. 5.6 

Stock is trading at P/E of 24.2x FY25E EPS

(Nirmal Bang Retail Research) 

Result is ok 

Revenue from Operations came at Rs. 238.3 Cr (-1.7% QoQ, -2% YoY) vs QoQ Rs. 242.4 Cr, YoY Rs. 243.3 Cr 

EBIDTA came at Rs. 8.2 Cr (977.4% QoQ, -84.9% YoY) vs QoQ Rs. 0.8 Cr, YoY Rs. 54.4 Cr 

EBITDA Margin came at 3.4% vs QoQ 0.3%, YoY 22.4% 

Adj. PAT came at Rs. -6.4 Cr vs QoQ Rs. -6.4 Cr, YoY Rs. 32.2 Cr 

Quarter EPS is Rs. -0.3 

Stock is trading at P/E of -32.9x TTM EPS

(Nirmal Bang Retail Research) 

Result is improving 

Revenue from Operations came at Rs. 639.7 Cr (-4.9% QoQ, 12.5% YoY) vs QoQ Rs. 672.5 Cr, YoY Rs. 568.6 Cr 

EBIDTA came at Rs. 27.3 Cr (15% QoQ, -302% YoY) vs QoQ Rs. 23.7 Cr, YoY Rs. -13.5 Cr 

EBITDA Margin came at 4.3% vs QoQ 3.5%, YoY -2.4% 

Adj. PAT came at Rs. 10.3 Cr vs QoQ Rs. 5 Cr, YoY Rs. -6 Cr 

Quarter EPS is Rs. 0.4 

Stock is trading at P/E of 37.1x FY25E EPS

(Nirmal Bang Retail Research) 

Result is declining 

Revenue from Operations came at Rs. 4073.8 Cr (-39.3% QoQ, -26.9% YoY) vs QoQ Rs. 6714 Cr, YoY Rs. 5571.6 Cr 

EBIDTA came at Rs. 181.5 Cr (-60.2% QoQ, -48% YoY) vs QoQ Rs. 456.4 Cr, YoY Rs. 349.1 Cr 

EBITDA Margin came at 4.5% vs QoQ 6.8%, YoY 6.3% 

Adj. PAT came at Rs. 223.9 Cr vs QoQ Rs. 478.6 Cr, YoY Rs. 342.9 Cr 

Quarter EPS is Rs. 1.1 

Stock is trading at P/E of 72.6x FY25E EPS

(Nirmal Bang Retail Research) 

Result is below expectations 

Revenue from Operations came at Rs. 372.2 Cr (4.4% QoQ, -6.2% YoY) vs expectation of Rs. 380.3 Cr, QoQ Rs. 356.5 Cr, YoY Rs. 396.7 Cr 

EBIDTA came at Rs. 39.8 Cr (-8.3% QoQ, -26.8% YoY) vs expectation of Rs. 52.3 Cr, QoQ Rs. 43.4 Cr, YoY Rs. 54.4 Cr 

EBITDA Margin came at 10.7% vs expectation of 13.8%, QoQ 12.2%, YoY 13.7% 

Adj. PAT came at Rs. 27.2 Cr vs expectation of Rs. 32.3 Cr, QoQ Rs. 41.1 Cr, YoY Rs. 33.6 Cr 

Quarter EPS is Rs. 1.6 

Stock is trading at P/E of 32x FY25E EPS

(Nirmal Bang Retail Research) 

Result ahead of Expectation 

Revenue from Operations came at Rs. 2143.6 Cr (11.1% QoQ, 59.1% YoY) vs expectation of Rs. 1868.4 Cr, QoQ Rs. 1928.8 Cr, YoY Rs. 1347.5 Cr 

EBIDTA came at Rs. 358.3 Cr (15.8% QoQ, 70% YoY) vs expectation of Rs. 302 Cr, QoQ Rs. 309.5 Cr, YoY Rs. 210.8 Cr 

EBITDA Margin came at 16.7% vs expectation of 16.2%, QoQ 16%, YoY 15.6% 

Adj. PAT came at Rs. 117.9 Cr vs expectation of Rs. 112.8 Cr, QoQ Rs. 111.3 Cr, YoY Rs. 109.2 Cr 

Quarter EPS is Rs. 3.1 

Stock is trading at P/E of 27.4x FY25E EPS

(Nirmal Bang Retail Research) 

Result Ok 

Revenue from Operations came at Rs. 1009.7 Cr (-0.6% QoQ, 33.6% YoY) vs QoQ Rs. 1015.7 Cr, YoY Rs. 755.9 Cr 

EBIDTA came at Rs. 56.3 Cr (-37.9% QoQ, 22.1% YoY) vs QoQ Rs. 90.6 Cr, YoY Rs. 46.1 Cr 

EBITDA Margin came at 5.6% vs QoQ 8.9%, YoY 6.1% 

Adj. PAT came at Rs. 87.2 Cr vs QoQ Rs. 111.6 Cr, YoY Rs. 76.7 Cr 

Quarter EPS is Rs. 7.6 

Stock is trading at P/E of 50.9x FY25E EPS

(Nirmal Bang Retail Research) 

Result has improved 

Revenue from Operations came at Rs. 474.5 Cr (6.2% QoQ, 25% YoY) vs QoQ Rs. 446.6 Cr, YoY Rs. 379.7 Cr 

EBIDTA came at Rs. 118.6 Cr (51.7% QoQ, 85.9% YoY) vs QoQ Rs. 78.2 Cr, YoY Rs. 63.8 Cr 

EBITDA Margin came at 25% vs QoQ 17.5%, YoY 16.8% 

Adj. PAT came at Rs. 88.4 Cr vs QoQ Rs. 57.8 Cr, YoY Rs. 43.7 Cr 

Quarter EPS is Rs. 38 

Stock is trading at P/E of 26.1x TTM EPS

(Nirmal Bang Retail Research) 

Result ahead of Expectation 

Revenue from Operations came at Rs. 7077.8 Cr (13.9% QoQ, 11.9% YoY) vs expectation of Rs. 6642.9 Cr, QoQ Rs. 6215.1 Cr, YoY Rs. 6323.3 Cr 

EBIDTA came at Rs. 1137.8 Cr (28.5% QoQ, 2.1% YoY) vs expectation of Rs. 970.1 Cr, QoQ Rs. 885.6 Cr, YoY Rs. 1114.2 Cr 

EBITDA Margin came at 16.1% vs expectation of 14.6%, QoQ 14.2%, YoY 17.6% 

Adj. PAT came at Rs. 562.6 Cr vs expectation of Rs. 441.3 Cr, QoQ Rs. 379.6 Cr, YoY Rs. 581.5 Cr 

Quarter EPS is Rs. 1326.4 

Stock is trading at P/E of 29.2x FY25E EPS

(Nirmal Bang Retail Research) 

Result is ok 

Revenue from Operations came at Rs. 140.2 Cr (10.8% QoQ, 8.9% YoY) vs QoQ Rs. 126.5 Cr, YoY Rs. 128.8 Cr 

EBIDTA came at Rs. 23.4 Cr (-13.2% QoQ, -3.2% YoY) vs QoQ Rs. 27 Cr, YoY Rs. 24.2 Cr 

EBITDA Margin came at 16.7% vs QoQ 21.3%, YoY 18.8% 

Adj. PAT came at Rs. 1.8 Cr vs QoQ Rs. 2.2 Cr, YoY Rs. 3.4 Cr 

Quarter EPS is Rs. 0.1 

Stock is trading at P/E of 130x TTM EPS

(Nirmal Bang Retail Research) 

Result improved 

Revenue from Operations came at Rs. 139.4 Cr (-25.1% QoQ, 19.2% YoY) vs QoQ Rs. 186.1 Cr, YoY Rs. 117 Cr 

EBIDTA came at Rs. 19.6 Cr (-9.7% QoQ, 210.4% YoY) vs QoQ Rs. 21.7 Cr, YoY Rs. 6.3 Cr 

EBITDA Margin came at 14% vs QoQ 11.7%, YoY 5.4% 

Adj. PAT came at Rs. 11.1 Cr vs QoQ Rs. 18.6 Cr, YoY Rs. 2.8 Cr 

Quarter EPS is Rs. 2.3 

Stock is trading at P/E of 20.9x TTM EPS

(Nirmal Bang Retail Research) 

Result inline with expectation 

Revenue from Operations came at Rs. 2338.1 Cr (0.4% QoQ, 9.9% YoY) vs expectation of Rs. 2345.8 Cr, QoQ Rs. 2328.6 Cr, YoY Rs. 2127.3 Cr 

EBIDTA came at Rs. 651.5 Cr (-1.2% QoQ, 17.8% YoY) vs expectation of Rs. 653.9 Cr, QoQ Rs. 659.2 Cr, YoY Rs. 553 Cr 

EBITDA Margin came at 27.9% vs expectation of 27.9%, QoQ 28.3%, YoY 26% 

Adj. PAT came at Rs. 415.1 Cr vs expectation of Rs. 393.9 Cr, QoQ Rs. 403 Cr, YoY Rs. 311.5 Cr 

Quarter EPS is Rs. 8.9 

Stock is trading at P/E of 44.9x FY25E EPS

(Nirmal Bang Retail Research) 

Result has improved 

Revenue from Operations came at Rs. 222.1 Cr (8.5% QoQ, 32% YoY) vs QoQ Rs. 204.6 Cr, YoY Rs. 168.3 Cr 

EBIDTA came at Rs. 25.3 Cr (12.8% QoQ, 56.1% YoY) vs QoQ Rs. 22.4 Cr, YoY Rs. 16.2 Cr 

EBITDA Margin came at 11.4% vs QoQ 11%, YoY 9.6% 

Adj. PAT came at Rs. 8.2 Cr vs QoQ Rs. 5.1 Cr, YoY Rs. 1.4 Cr 

Quarter EPS is Rs. 2.6 

Stock is trading at P/E of 123.2x TTM EPS

Route – Tender 

Buyback Price: 220/- 

Current Market Price: 179.15/-

Market Cap: Rs 17,410 Crores 

Buyback Size: Rs 278.44 Crores (Representing 7.87% and 6.67% of the total paid up equity share capital and free reserves) 

Buyback Size: 1,26,55,970 shares (Representing 1.30% of O/s. shares) 

Retail Quota: 18,98,396 Shares

Entitlement:

General Category - 1 Equity Shares for every 88 Equity Shares held on the Record Date

Retail Category - 3 Equity Shares for every 44 Equity Shares held on the Record Dat

Buyback Record Date: 05 Aug 2024

Tender Period:

Start Date - 09 Aug 2024 (Today)

Close Date - 16 Aug 2024

Obligation Date - 22 Aug 2024 

Settlement Date - 23 Aug 2024

GRP Ltd.

Bonus issue 3:1

Previous day Closing Price – Rs. 14363.40 

Ex Bonus 12 Aug 2024 (Monday)

Last date Trade for Before Bonus Today

Route – Tender 

Buyback Price: 1,460/- 

Current Market Price: 1,479.35/-

Market Cap: Rs 86,681 Crores 

Buyback Size: Rs 750 Crores (Representing 3.84% and 2.67% of the total paid up equity share capital and free reserves) 

Buyback Size: 51,36,986 shares (Representing 0.88% of O/s. shares) 

Retail Quota: 7,70,548 Shares

Entitlement:

General Category - 4 Equity Share for every 531 Equity Shares held on the Record Date

Retail Category - 5 Equity Shares for every 41 Equity Shares held on the Record Date

Buyback Record Date: 30 July 2024

Tender Period:

Start Date - 05 Aug 2024

Close Date - 09 Aug 2024 (Today)

Obligation Date - 18 Aug 2024 

Settlement Date - 19 Aug 2024

Ex-Dividend 12 Aug 2024 (Monday) 

Last date for Cum-Dividend Today 

Computer Age Management Services Ltd 

Dividend Per Share Rs.11 

Previous day Closing Price – Rs. 4255.15

ICICI Bank Ltd. 

Dividend Per Share Rs.10 

Previous day Closing Price – Rs. 1164.6 

India Pesticides Ltd 

Dividend Per Share Rs.0.75 

Previous day Closing Price – Rs. 211.85 

NHPC Ltd. 

Dividend Per Share Rs.0.5 

Previous day Closing Price – Rs. 98.8 

Styrenix Performance Materials Ltd 

Dividend Per Share Rs.28 

Previous day Closing Price – Rs. 2638.65 

UPL Limited 

Dividend Per Share Rs.1 

Previous day Closing Price – Rs. 547

Rossell India Ltd. 

Dividend Per Share Rs.0.3 

Previous day Closing Price – Rs. 569.7

Silver prices rose as statistics showed a larger-than-expected reduction in U.S. jobless claims in the week ending August 3rd. The metal drew investors despite ongoing concerns about geopolitical tensions and the future for global economic development. Optimism about the Federal Reserve’s planned round of interest rate reduction also helped. The Labour Department reported that first-time claims for unemployment benefits in the United States fell more than expected last week.

Gold prices increased on strong safe-haven demand and rising anticipation of a significant interest rate decrease from the US Federal Reserve in September. On the geopolitical stage, the execution of prominent members of the militant groups Hamas and Hezbollah last week heightened the potential of Iran retaliating against Israel. According to the CME FedWatch Tool, the market now sees a 72% chance of a 50 basis point drop in September, up from 70%, with another decrease expected in December. According to US data, there were 233,000 initial unemployment claims last week, lower than expectations of 240,000 and lower than 250,000 the week before, alleviating concerns about a downturn in the world’s largest economy.

Three months after the position remained vacant, capital market regulator SEBI approved Praveena Rai’s appointment as the Managing Director and CEO of MCX, the country’s largest commodity exchange.

Rai was the COO of NPCI (National Payment Corporation of India) and was in charge of formulating and deploying the marketing, business development, product management, and operations strategy.

The storage level in the 150 major Indian reservoirs increased for the sixth consecutive week thanks to a 44 per cent surplus rainfall in the first week of August, data from the Central Water Commission (CWC) showed.

In its weekly bulletin on the status of the major reservoirs this week, CWC said the level in the major reservoirs was 65 per cent of the 178.784 billion cubic metres (BCM) capacity at 115.736 BCM. This is higher than the storage during the same time a year ago at 108.639 BCM. 

The shares of JP Associates have been moved to Insolvency and Bankruptcy Code (IBC) stage I and have been suspended from trading from August 8, 2024.

HCLTech to acquire France-based Zeenea for €24 million

Zeenea is a metadata management software provider

Greaves Cotton: Co says as per approval from competent authority from MHI, co unit may get the models of electric vehicle tested by the relevant testing agency for the Electric Mobility Promotion Scheme 2024 or any other scheme of MHI

Symbol: OLAELEC 

Series: Equity “B Group” 

BSE Code: 544225 

ISIN: INE0LXG01040 

Face Value: Rs 10/- 

Issued Price: Rs 76/- per share

* ABCAPITAL

* ABFRL

* BSOFT

* GNFC

* HINDCOPPER

* INDIACEM

* INDIAMART

* LICHSGFIN

* MANAPPURAM

* PNB

* RBLBANK

China CPI (Y/Y): Current: 0.5% (est 0.3%; prev 0.2%)

China PPI (Y/Y): Current: -0.8% (est –0.9%; prev –0.8%)

Evergy, Inc. (Pre market) (Sector- Power)

Legend Biotech Corporation(Pre market) (Sector- Healthcare)

VinFast Auto Ltd. (TENT) (Sector- Automobiles)

07.00 CHINA CPI y/y (Expected: 0.3% versus Previous: 0.2%)

07.00 CHINA PPI y/y (Expected: -0.9% versus Previous: -0.8%)

11.30 EURO German Final CPI m/m (Expected: 0.3% versus Previous: 0.3%)

12/08/2024: Japan Market Holiday

Shares of Ola Electric Mobility will be listed on the bourses today. The IPO price has been pegged at ₹76. The public issue of Ola Electric Mobility, the first pure EV company to hit the capital market, saw a moderate response. The IPO was subscribed 4.27 times, with qualified institutional investors and retail investors showing more interest, as their respective portions were subscribed 5.31 times and 3.92 times, respectively. However, HNIs (non-institution investors) remained somewhat muted, as their reserved portion saw bids 2.40 times.

Buzzing stocks: MCX, Utkarsh SFB, Wipro, Tech Mahindra, Tanla Platforms, GAIL (India), Jindal Steel, Coffee Day, Nexus Select Trust, Prakash Ind, Bansal Wire

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI 

Here’s an interesting stock idea: The stock idea that we have for you today is Eris Lifesciences. The stock has been in a strong uptrend since May this year. This upmove is happening inside a bull channel. The uptrend is intact and the share price can go further in the coming days. Check out the latest episode of Today’s Pick to learn more. ​

The short-term outlook is bullish for Eris Lifesciences. The stock has been in a strong uptrend since May this year. Also, the price action since then is in the form of a bull channel. On Thursday the stock has surged 4 per cent and has closed on a strong note. The uptrend is strong and intact. 

Birlasoft (₹575): The stock’s has declined sharply price over the past couple of weeks. The downswing started with resistance at ₹750. It is currently trading at around ₹575.