Share Market Highlights 6 August 2024: Stock markets pare gains to close lower, Nifty falls below 24,000

The rupee recovered from its all-time low level and settled for the day 16 paise higher at 83.93 (provisional) against the US dollar on Tuesday, on suspected intervention by the Reserve Bank.

Forex traders said mixed to weak global equities on rising concerns over recession fears in the US and the geopolitical tensions in the Middle East dented investor sentiments.

Moreover, the sentimental impact of unwinding of the Yen carry-trade weighed on the riskier currencies such as the rupee. However, suspected intervention by the Reserve Bank supported the local unit.

Top gainers:

Britannia (2.81%), JSW Steel (2.35%), Tech Mahindra (1.74%), L&T (1.70%), Hindustan Unilever (1.54%) 

Top losers: 

HDFC Life (-4.28%), SBI Life (-2.43%), BPCL (-1.84%), Shriram Finance (-1.71%), SBI (-1.47%)

BSE Sensex declined by 166.33 pts or 0.21% to close at 78,593.07, and Nifty 50 closed at 23,992.55, down by 63.05 pts or 0.26%

J.Kumar Infraprojects reported its consolidated net profit for the quarter ended June 2024 at ₹86.41 crore as against ₹72.83 crore in the corresponding quarter last year.

The board has considered raising of funds through issuance of equity shares or other securities convertible into Equity Shares including warrants or any combination thereof in one or more tranches, by way of Preferential Issue, Qualified Institutional Placement (‘QIP’), Global Depository Receipts (GDR), American Depository Receipts (ADR) or through any other permissible mode.

Stock trades lower by 3.66% on the NSE, trading at ₹778.65

​Matrimony.com​ has received an order from the office of the State Tax Officer, GST Department, Kerala levying penalty of ₹20,076 in terms of Section 73(9) of the Central Goods & Services Tax Act 2017 read with Section 73(9) of the Kerala State Goods & Services Tax Act 2017. The Company is evaluating various steps to resolve the issue.

Stock dropped 3.82% on the NSE, trading at ₹641.30.

Hindustan Tin Works has received show cause notice from Additional Commissioner, CGST- North amounting to ₹3,73,60,481/- along with interest and penalty as applicable.

Stock fell 4.33% on the BSE, trading at ₹191.15

HDFC Life (-3.99%), SBI Life (-2.71%), Shriram Finance (-1.74%), SBI (-1.72%), M&M (-1.51%)

Britannia (2.76%), JSW Steel (2.53%), Tech Mahindra (1.86%), LTIMindtree (1.65%), Adani Enterprises (1.48%)

Stocks advanced on BSE at 3 pm on August 6, 2024, were 1,652 against 2,225 stocks that declined; 129 stocks remain unchanged. Total stocks traded were 4,006. The number of stocks that recorded a 52-week high was 184, and those that hit a 52-week low was 35. 

In addition, 232 stocks traded in upper circuit and 326 stocks hit the lower circuit.

Vedanta Ltd reported a 36.5% rise in consolidated net profit at ₹3,606 crore for the quarter ended June 30, 2024, as against ₹2,640 crore in the year-ago period.

Stock trades flat at ₹413.75 on the NSE.

NovaLead’s drug receives permission from CDSCO for the treatment of Diabetic Foot Ulcer (DFU) to be marketed by Ipca Laboratories Ltd. (Ipca) under brand name Diulcus.

Ipca Laboratories stock rose 2.81% on the NSE, trading at ₹1,317.45.

Zinc futures on the Multi Commodity Exchange (MCX) made a daily close below the support at ₹250 on Monday. As they have been falling over the past three weeks, the breach of the support can add further downward pressure on the contract.

As it stands, the likelihood for the downswing to extend appears high. The nearest notable support that the zinc August futures can find is at ₹230. Subsequent support is at ₹220.

That said, if the contract rebounds from the current level, it ought to get past the immediate hurdle at ₹256 to gain some traction. Until then, the inclination will remain bearish. In case the contract gets past ₹256, it can rise to ₹272, a strong barrier.

Power Finance Corporation reported its consolidated net profit for the quarter ended June 2024 at ₹7,182.06 crore as against ₹5,982.14 crore in the corresponding quarter last year.

Stock trades at ₹482.30 on the NSE, lower by 3.16%

Nifty Microcap 250 surged 7.73% in the month of July, whilst the one-year change marked at 71.83%

• Nifty Midcap 150 saw a surge of 4.94% in July
• Nifty smallcap 250 surged 4.89% in July
• Nifty Next 50 surged 4.56% in July
• Nifty 500 surged 4.30% in July
• Nifty 50 surged 3.92% in July

The IT sector contributed a positive return to the Nifty 500, in contrast to the S&P 500 index which experienced a decline of 0.7%

According to Motilal Oswal Asset Management Company’s Global Market snapshot report, all broad-based indices posted positive returns, with the Nifty Microcap 250 leading the way with an impressive gain of 7.7% in the month of July. 

The Nifty Microcap 250 index has surged by 18.38% over the last 3 months, 21.06% over the past 6 months, and 71.83% over the past year.

The Nifty Midcap 150 has experienced a growth of 15.71% over the past 3 months, 22.23% over the past 6 months, and a one-year growth change of 54.60%.

Conversely, the Nifty Next 50 has shown a growth of 15.24% over the past 3 months, 35.24% over the past 6 months, and 65.14% over the past year.

The Nifty smallcap 250 has experienced a 13.36% surge over the past 3 months, 19.15% growth over the past 6 months, and a 58.06% increase over the past year.

The Nifty 500 and Nifty 50 have shown growth of 37.94% and 26.31%, respectively in past year.

Nuvama private is the Private banking arm of Nuvama Group (backed by global Private Equity Fund; PAG) - a leading & listed Indian Wealth Management firm, with market capitalisation of over ₹ 200 billion (as of close of Indian markets on 5th Aug, ’24).

Having been in business for over 15 years, Nuvama Private’s clients include UHNWs, Family Offices, Entrepreneurs, CXO and Professional Investors.

Nuvama Private, an India specialist with proven track record and ability to provide global advisory aims to operate in the onshore-offshore corridor.

TVS Motor Company’s Revenue from Operations in the quarter ended June 2024 is higher at ₹8,376 crore, grew by 16% as against ₹7,218 crore in the quarter ended June 2023. 

The Company posted its highest ever Operating EBITDA of ₹960 crore with a growth of 26% for the first quarter of 2024-25 as against EBITDA of ₹764 crore in first quarter of 2023-24. 

Company’s operating EBITDA margin significantly improved by 90bps at 11.5% as against 10.6% in the quarter ended June 2023.

Imagicaaworld Entertainment reported its consolidated net profit for the quarter ended June 2024 at ₹66.13 crore as against ₹589.15 crore in the corresponding quarter last year.

Stock trades at ₹81.77 on the NSE, up 6.10%

Inox Wind Limited (IWL) has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I player. This is an equipment supply order for IWL’s latest 3 MW Wind Turbine Generators (WTGs).

Inox Wind stock declines 1.16% on the NSE, trading at ₹168.50.

TVS Motor Company recorded its consolidated net profit for the quarter ended June 2024 at ₹484.82 crore as against ₹441.47 crore in the corresponding quarter last year.

Stock trades flat at ₹2,489.45 on the NSE.

Shivalik Bimetal Controls recorded its consolidated net profit for the quarter ended June 2024 at ₹17.82 crore as against ₹21.28 crore in the corresponding quarter last year. 

Shivalik Bimetal Controls stock slides 2.07% on the NSE, trading at ₹597.35.

Amid persistent inflationary pressures, particularly due to rising food prices, the Reserve Bank of India (RBI) is expected to maintain the current benchmark rate. This cautious approach is designed to balance economic growth with price stability. By holding the rate steady, the RBI aims to mitigate inflation without stifling economic momentum. 

Rising food prices have been a significant contributor to inflation, prompting the central bank to adopt a wait-and-watch strategy. This decision underscores the RBI’s commitment to ensuring long-term price stability while fostering a conducive environment for sustainable economic growth.

Neelam Agrawal (Director, Government of India, Ministry of Finance, Department of Financial Services) has been nominated as Director on the board of Indian Overseas Bank with immediate effect.

LTIMindtree has been selected as a global digital service provider by Exyte, a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for hightech industries. Under the agreement, LTIMindtree will deliver comprehensive IT modernisation services.

LTIMindtree stock trades at ₹5,480.15 on the NSE, up 1.67%.

Marine Electricals (India) Limited has received an order amounting to ₹4.48 crore from Crescon Projects & Services Private Ltd for supply of LT & HT Panel (Princeton project - 3rd Floor). The delivery shall be over a period of 2-3 months. 

Shares have hit the lower circuit of ₹255.30, down by 4.99% on the NSE.

Kalyani Steels recorded its standalone net profit for the quarter ended June 2024 at ₹51.57 crore as against ₹61.25 crore in the corresponding quarter last year.

Stock inches up 0.70% on the NSE, trading at ₹837.35.

Shree Cement announced its consolidated net profit for the quarter ended June 2024 at ₹278.45 crore as against ₹571.94 crore in the corresponding quarter last year.

Stock trades flat at ₹26,834.10 on the NSE.

Skanray, a global medtech company, has announced a partnership with Tata Elxsi, a design and technology services firm. The collaboration aims to develop advanced surgical imaging technology and innovative healthcare solutions, combining Skanray’s expertise in medical devices with Tata Elxsi’s prowess in software development and digital capabilities.

Symphony announced the launch of 17 new models of air coolers. In addition, the company has announced its entry into storage water heater category by launching nine new models.

India Nippon Electricals stock jumps 12.05% on the NSE, trading at ₹848.65. Company recorded its consolidated net profit for the quarter ended June 2024 at ₹18.14 crore as against ₹9.26 crore in the corresponding quarter last year.

Bajaj Electricals board considering the resignation of Anuj Poddar, Managing Director & Chief Executive Officer, w.e.f. September 30, 2024, has designated Shekhar Bajaj, Executive Chairman as the KMP of the Company, effective from October 1, 2024.

Company recorded its consolidated net profit for the quarter ended June 2024 at ₹28.11 crore as against ₹37.13 crore in the corresponding quarter last year.

Stock trades flat at ₹962 on the NSE.

Graphite India stock jumps 7.80% on the NSE, trading at ₹524.60 as the company reports consolidated net profit for the quarter ended June 2024 at ₹236 crore as against the loss of ₹30 crore in the corresponding quarter last year.

Symphony board has approved the proposal for buyback of equity shares at a price of ₹2,500 per share payable as cash for a total consideration not exceeding ₹71.40 crore. Company has also declared an interim dividend of ₹1 per equity share.

Company recorded its consolidated net profit for the quarter ended June 2024 at ₹222.53 crore as against ₹184.22 crore in the corresponding quarter last year. The company also announced launch of 17 new models of air coolers.

Symphony stock rockets 17.72% on the NSE, trading at ₹1,448.

NCC Ltd recorded its consolidated net profit for the quarter ended June 2024 at ₹222.53 crore as against ₹184.22 crore in the corresponding quarter last year.

Stock trades flat at ₹322.80 on the NSE.

Nuvama Private, the Private Banking arm of Nuvama Group, announced the launch of its operations to serve the middle east through its office in the Dubai International Financial Centre (DIFC).

Nuvama Wealth Management stock is up 1.13% on the NSE, trading at ₹5,975.

Absolute Sports, a Nazara Technologies subsidiary, has signed an asset purchase agreement to acquire all the assets of DeltiasGaming.com, a premier source of gaming and esports content in the US.

Nazara Technologies stock rises 1.70% on the NSE, trading at ₹925.

Havells India has received order from Deputy Commissioner (ST) STU-2 (FAC), Begumpet Division, Hyderabad, for demand of Rs. 28,942 has been raised related to tax of Rs. 8,942 and penalty of Rs. 20,000.

Stock trades flat at ₹1,799.90 on the NSE.

Ajmera Realty & Infra India Ltd (ARIIL) issued additional equity shares as a marginal gain to its stakeholders. This is due to the de-merger between ARIIL and its 100% subsidiary – Radha Raman Dev Ventures Pvt Ltd. The de-merger of the firm was approved by NCLT on the 4th of July 2024. As per the scheme of Arrangement, ARIIL has allotted equity shares with the face value of INR 10 each against every 50 shares held to its equity shareholders. The record date for finalizing the same was set as the 2nd of August 2024 by the company. Additional 7,09,698 equity shares have been issued by ARIIL and therefore the expanded capital now at 3,61,94,573 equity shares of ARIIL.

This de-merger is for transfer of an undertaking of 6.5 acres of land at I-land Wadala. It is proposed to develop commercial project at this plot of land measuring 6.5 acres. Through this demerger, it is proposed to segregate business pertaining to the development of a commercial project into a separate company i.e 100% subsidiary – Radha Raman Dev Ventures Pvt Ltd to leverage the growth potential of the project to its optimum.

Top gainers of Nifty realty stocks:

Brigade (4.91%), Godrej Properties (4.60%), DLF (2.48%), Oberoi Realty (2.40%)

Bharti Airtel’s stock price dipped 1.09 per cent on the BSE at 11:55 AM on Tuesday. The stock was trading at ₹1450.05.

Bharti Airtel (Airtel) on Monday declared that its consolidated net profit had, on a year-on-year (YoY) basis, more than doubled to ₹4,160 crore for the first quarter ended June 30, compared to ₹1,613 crore in the corresponding period last year.

Top gainers on the NSE as at 12 noon:

Britannia (2.90%), JSW Steel (2.78%), Adani Enterprises (2.63%), HCL Tech (2.45%), Grasim (2.28%)

Top losers:

HDFC Life (-1.98%), SBI Life (-1.85%), Shriram Finance (-1.53%), Bharti Airtel (-1.05%), Kotak Mahindra (-0.10%)

Stocks advanced on BSE at 12 noon on August 6, 2024, were 2,546 against 1,195 stocks that declined; 136 stocks remain unchanged. Total stocks traded were 3,877. The number of stocks that recorded a 52-week high was 170, and those that hit a 52-week low was 26. 

In addition, 230 stocks traded in upper circuit and 218 stocks hit the lower circuit.

Indowind Energy Limited announced closure of the issue of 2,14,66,956 fully paid−up equity shares on rights basis to the eligible equity shareholders.

Indowind Energy stock rose 2.38% on the NSE, trading at ₹30.60.

Akums Drugs and Pharmaceuticals, a prominent CDMO player, made a subdued debut on the stock market, listing at Rs. 725 per share, reflecting a modest 6.77% gain over its issue price of Rs. 679. While the IPO received a strong subscription of 63.44 times and the initial market buzz was positive, the actual listing fell short of expectations, likely influenced by the prevailing market volatility.

The company’s strong fundamentals and market position offer potential for long-term growth, but investors should carefully assess the risks and market volatility. Investors with a long-term view may hold their position by keeping a stop loss at its issue price.

Skanray has chosen Tata Elxsi as its partner for advanced surgical imaging core technology and software platform development.

Tata Elxsi stock is up 1.18% on the NSE, trading at ₹6,857.55.

Tata Passenger Electric Mobility and Tata Power Renewable Energy , a subsidiary of The Tata Power, have joined hands to drive zero-emissions mobility in India through a combined solution of Electric Vehicles and Solar Rooftop Systems. Through this collaboration, Tata Passenger Electric will enable customers to get a solar rooftop system installed through Tata Power Renewable. In addition, both companies will promote EVs, EV Charging and Solar Rooftop Systems to their respective customers to drive awareness of the benefits of solutions.

Bank Nifty recovered some of the loss in the early trades but seems to be struggling to sustain it. The index made a high of 50,688.80 and then has come down sharply from there.

It is currently trading at 50,231, up 0.3 per cent. The advances/declines ratio is at 9:3. This is negative. If this trend sustains, then the index can fall more during the day.

Shahlon Silk Industries has ventured into warehouse business with acquisition of 20,409.01 Sq. Meter Land.

Shahlon Silk stock fell 3.59% to trade at ₹22.56 on the BSE.

Shares of Akums Drugs and Pharmaceuticals Ltd on Tuesday listed with a premium of nearly 7 per cent against the issue price of Rs 679.

The stock made its debut at Rs 725, up 6.77 per cent from the issue price on both the BSE and NSE. Later, it zoomed 15.55 per cent to Rs 784.65 on the BSE.

The company’s market valuation stood at Rs 11,806.91 crore during the morning trade.

The initial public offer of Akums Drugs and Pharmaceuticals received 63.56 times subscription on the closing day of the share sale on Thursday amid massive participation from institutional buyers.

Oriana Power Ltd. has announced the plan to build “Electrolyzer Gigafactory for Green Hydrogen and E-Fuels.”

Stock hits upper circuit at ₹1,934.20 on the NSE, higher by 5%.

Confidence Petroleum India has commissioned thirteen additional Auto LPG Dispensing Stations, bringing the total to 274 ALDS stations.

Stock rises 1.44% on the NSE, trading at ₹85.19.

Brainbees Solutions Limited, has allotted 4.1 crore shares to 71 anchor investors and raised ₹ 1885.8 crores ahead of company’s proposed IPO at the upper price band of ₹ 465 per equity share. Anchor investors include Government of Singapore, Monetary Authority of Singapore, ADIA, SBI Mutual Fund, ICICI Prudential MF and HDFC MF

Nifty 50, the Indian benchmark index, opened today’s session with a gap-up at 24,190 versus yesterday’s close of 24,056. The index advanced after opening and is now hovering around 24,340, up 1.2 per cent.

The advance/decline ratio of Nifty 50 stands at 48/2. All mid- and small-cap indices are in the green and in addition, all the sectoral indices too have gained today so far. This is an indication of a broad-based buying.

The rupee recovered from its all-time low level and opened 25 paise higher at 83.84 against the US dollar in morning trade on Tuesday, mirroring the rebound in the domestic equity market, even as aggressive dollar bids from foreign banks exerted pressure on the local unit.

Forex traders said risk aversion in the global markets, escalation of geopolitical tensions in the Middle East and outflows by foreign investors further dented investor sentiments.

Ola Electric Mobility IPO has been subscribed 1.16 times as of 10.36 am on August 6, 2024. The QIB has been subscribed 0.40 times, NII 1.29 times, retail 3.11 times, and those reserved for employees 9.85 times. The issue closes today.

Top gainers on the BSE as at 10.30 am:

Gravita (10.33%), Gokex (10.31%), FSL(10.04%), KPR Mill (9.26%), VTL (9.09%)

Top losers:

Adani Energy Solutions (-4.05%), Marico (-3.97%), Cochin Shipyard (-3.95%), Reliance Power (-3.50%), SDBL (-3.42%)

Biocon stock rises 1.56% on the NSE, trading at ₹345.70. The company had received Establishment Inspection Report with VAI from USFDA for Visakhapatnam API facility.

Sandhar Technologies stock is up 1.78% to trade at ₹681.870 on the commissioning of its cutting-edge manufacturing facility namely Sandhar Auto Electric Solutions Private Limited (Wholly Owned Subsidiary Company).

JioFinance app can now be used for making payments at select tourist attractions in the French capital. To make it convenient for Indian travellers to transact digitally, JioFinance will enable international payments for buying tickets to visit the Eiffel Tower through its official website, La Tour Eiffel; as well as for in-store shopping at the iconic Parisian department store, Galeries Lafayette Paris Hausmann.

The JioFinance app can also be experienced through a dedicated experience centre inside ‘India House’, which has been conceptualised by Reliance Foundation, in partnership with the Indian Olympic Association. India House is a showcase of India’s rich heritage and legacy to the world, and a home away from home for Indian athletes and visitors in Paris at this time.

Marico stock falls 3.57% on the NSE to trade at ₹648.15, although company reported an 8.71 per cent rise in consolidated net profit to ₹474 crore for the first quarter ended June 30.

Indraprastha Medical Corporation (19.99%), Gravita (11.32%), Vmart (8.18%), Deepak Fertilizers (6.25%)

RITES Limited entered a memorandum of understanding (MoU) with Housing and Urban Development Corporation Limited (HUDCO) on Monday.

RITES stock rises 1.91% on the NSE, trading at ₹700.50. Meanwhile, HUDCO rises 2.90% on the NSE, trading at ₹298.55.

MTNL stock trades 5% lower at ₹67.76 on the NSE, also its lower circuit. The company had defaulted on bank loan payments worth ₹422.05 crore.

Tata Motors share surged close to 3% in early trade on Tuesday. 

Gold prices edged higher on Tuesday after comments from Federal Reserve officials reinforced expectations of bigger U.S. interest rate cuts later this year.

Spot gold was up 0.1% to $2,408.77 per ounce as of 0354 GMT. Bullion fell to its lowest since July 26 in the previous session, caught in a global sell-off driven by fears of a U.S. recession.

U.S. gold futures rose 0.2% to $2,449.50. - Reuters

(Nirmal Bang Retail Research)

Result is broadly in-line with expectations 

Revenue from Operations came at Rs. 156.2 Cr (0.7% QoQ, 29.1% YoY) vs expectation of Rs. 147.4 Cr, QoQ Rs. 155.2 Cr, YoY Rs. 121.1 Cr 

EBIDTA came at Rs. 61.2 Cr (-3% QoQ, 27.3% YoY) vs expectation of Rs. 58.2 Cr, QoQ Rs. 63.1 Cr, YoY Rs. 48.1 Cr 

EBITDA Margin came at 39.2% vs expectation of 39.5%, QoQ 40.7%, YoY 39.8% 

Adj. PAT came at Rs. 31.3 Cr vs expectation of Rs. 31.7 Cr, QoQ Rs. 33.5 Cr, YoY Rs. 26.2 Cr 

Quarter EPS is Rs. 3.1 

Stock is trading at P/E of 42.6x FY26E EPS

(Nirmal Bang Retail Research)

Result is inline with expectations

Revenue from Operations came at Rs. 2643 Cr (16% QoQ, 6.7% YoY) vs expectation of Rs. 2646.7 Cr, QoQ Rs. 2278 Cr, YoY Rs. 2477 Cr

EBIDTA came at Rs. 626 Cr (41.6% QoQ, 9.1% YoY) vs expectation of Rs. 620.9 Cr, QoQ Rs. 442 Cr, YoY Rs. 574 Cr

EBITDA Margin came at 23.7% vs expectation of 23.5%, QoQ 19.4%, YoY 23.2%

Adj. PAT came at Rs. 464 Cr vs expectation of Rs. 459 Cr, QoQ Rs. 318 Cr, YoY Rs. 427 Cr

Quarter EPS is Rs. 3.6

Stock is trading at P/E of 47x FY26E EPS

(Nirmal Bang Retail Research)

Result is above expectations

Revenue from Operations came at Rs. 1221.9 Cr (16.7% QoQ, 44.3% YoY) vs expectation of Rs. 1183 Cr, QoQ Rs. 1047.1 Cr, YoY Rs. 846.6 Cr

EBIDTA came at Rs. 223.4 Cr (29.6% QoQ, 28.8% YoY) vs expectation of Rs. 194.4 Cr, QoQ Rs. 172.3 Cr, YoY Rs. 173.4 Cr

EBITDA Margin came at 18.3% vs expectation of 16.4%, QoQ 16.5%, YoY 20.5%

Adj. PAT came at Rs. 30.1 Cr vs expectation of Rs. 16.4 Cr, QoQ Rs. 34.9 Cr, YoY Rs. 59.1 Cr

Quarter EPS is Rs. 0.2

Stock is trading at P/E of 80.6x FY26E EPS

VRL Logistics Ltd. | CMP Rs. 546 | M Cap Rs. 4778 Cr | 52 W H/L 799/511

(Nirmal Bang Retail Research)

Result is below expectations

Revenue from Operations came at Rs. 727.2 Cr (-5.4% QoQ, 7.9% YoY) vs expectation of Rs. 735.5 Cr, QoQ Rs. 768.4 Cr, YoY Rs. 674.2 Cr

EBIDTA came at Rs. 86.9 Cr (-17.5% QoQ, -14.7% YoY) vs expectation of Rs. 98.1 Cr, QoQ Rs. 105.3 Cr, YoY Rs. 101.9 Cr

EBITDA Margin came at 11.9% vs expectation of 13.3%, QoQ 13.7%, YoY 15.1%

Adj. PAT came at Rs. 13.4 Cr vs expectation of Rs. 17.8 Cr, QoQ Rs. 21.5 Cr, YoY Rs. 33.9 Cr

Quarter EPS is Rs. 1.5

Stock is trading at P/E of 36.4x FY25E EPS

Buy, TP Rs 85

Rising content to support growth momentum 

1Q EBITDA below; key beneficiary of premiumization, rising EV launches 

Trading @31.4x FY26F EPS 

Ltd capex intensity should sustain robust ROEs of 44- 45% over FY25-26F

Downgrade to reduce, TP Rs 4375

Lower contribution from custom synthesis on sales mix change led to lower EBITDA margin q-o-q in 1QFY25 

Believe current price reflects exuberance on CS projects, mainly peptides, despite ltd clarity on opportunities

Buy Call, Target Rs 390

Q1 Standalone EBITDA Was 3% Ahead Of Estimates 

Q1 Domestic Production Was Broadly In-line 

Realisations Were Slightly Ahead Of Expectations 

Q1 PAT Was In-line With Estimates & Consensus, Offset By Higher D&A And Interest Expense 

Growth Guidance On Production Especially Krishna Godavari Basin Key To Watch Out For 

Premium Price Realisation From New Wells In Nomination Fields Key To Watch Out For

Downgrade To Reduce, Target Cut To Rs 590 From 740

Co Continues To Deliver Below-System Loan Growth & Margin Compression 

Believe Mgmt Guidance Is Optimistic As Competition Would Keep Loan Growth & NIM Under Pressure 

Estimate A 5% EPS CAGR Over FY24-27

Equal-Weight Call, Target Rs 596

Q1 In-line; Positive Commentary Continues 

Growth In Core Businesses Improved Sequentially 

Management Expects Double-digit Topline Growth In FY25 

Management Maintained EBITDA Margin At FY24 Level (21%)

Buy Call, Target Rs 60,800

Q1 Results Were In-line 

EBITDA Margin At 16.1%, Up 213 bps YoY Due To 135 bps YoY Decline In Employee Cost 

EBITDA Margin At 16.1%, Up 213 bps YoY Due To 28 bps YoY Decline In Other Expense 

Co’s Focused Portfolio Aligned To India’s Automation Megatrends

Neutral, TP Rs 1530

Q1: Muted although all eyes on impact on tariff hikes in coming qtrs. 

Monitor commentary on: 

1) capex trajectory 

2) 5G rollout progress & uptake, 

3) impact of tariff hikes implemented in Jul’24 

4) update on enterprise biz

Neutral Call, Target Rs 1,280

Headline India/Consolidated EBITDA +12%/1% YoY Which Is A Mild Miss 

Q1 Consolidated PAT Beat Led By One-off Exceptional Items 

In View Of Strong Stock Outperformance, Believe ARPU Miss Could Weigh On Short-term Sentiment 

Over Next 1-2 Years, Remain Constructive On Improvement In Earnings, Cash Flow 

Remain Constructive On Improvement In Returns Trajectory In India’s Telecom Sector 

The Office of the Executive Engineer, Government of Maharashtra has awarded Patel Engineering (PEL) along with its JV Partner a ₹317.60 crore contract for the works involving construction of water lifting arrangement work for first stage from submergence of Jigaon project including Civil, Mechanical, Electrical component & allied works.

Patel Engineering stock surges 2.97% on the NSE, trading at ₹55.08

Seedlings India Private Limited, a wholly owned subsidiary of Best Agrolife Limited has been granted a patent by the Indian Patent Office-Government of India for an invention entitled SYNERGISTIC FUNGICIDAL COMPOSITION” for the term of 20 years commencing from August 9, 2021.

Best Agrolife stock surges 2.46% on the NSE, trading at ₹587.70

Revolt Motors opens new dealership in Najafgarh, Delhi.

RattanIndia Enterprises stock rose 1.77% on the NSE, trading at ₹73.22

Buy Call, Target Rs 1,750

Q1 India Mobile Performance In-line 

Cons Rev/EBITDA, Both Up 2% QoQ Were Slightly (1-2%) Below Est On Misses In Africa & Biz Segments 

Encouragingly, India Capex Showed Signs Of Moderation, Consistent W/Past Mgmt Commentary 

India Capex Drove An Improvement In FCF Generation Along With Deleveraging 

Downgrade to U-P, TP cut to Rs 213 from Rs 355

Constructive on earnings, but positives priced in 

Top gainers on the NSE as at 9.30 am:

Tata Motors (2.98%), Tech Mahindra (2.60%), L&T (2.40%), Infosys (2.29%), HCL Tech (2.20%)

Top losers:

SBI Life (-0.79%), Apollo Hospitals (-0.40%), HDFC Life (-0.39%)

Downgrade to U-P, TP cut to Rs 1815 

See ltd. room from surprise

Downgrade ABB/Siemens/Havells/BEL to U-P from BUY 

While remain constructive on order inflow/earnings outlook for sector, recent sharp re-rating & near all-time high valuations make us cautious 

BOFA Sec on ABB/Siemens 

ABB, TP cut to Rs 6625 & Siemens, TP cut to Rs 5378 

See risks to global growth cropping up on 

a) likely hard US landing, 

b) China slowdown, 

c) Rate hikes in Japan, 

d) RBI cuts likely pushed out to CY25, 

e) rising govt subsidies & 

f) rising fund raises 

Crude oil futures, which declined by nearly 1 per cent on Monday, gained more than $1 a barrel on Tuesday due to growing tensions in West Asia. At 9.23 am on Tuesday, October Brent oil futures were at $77.27, up by 1.27 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $74.10, up by 1.59 per cent. August crude oil futures were trading at ₹6227 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6146, up by 1.32 per cent, and September futures were trading at ₹6173 against the previous close of ₹6097, up by 1.25 per cent.

Equity market benchmark indices Sensex and Nifty bounced back sharply in early trade on Tuesday after facing a severe drubbing in the previous trade tracking a smart rebound in Asian peers.

The 30-share BSE Sensex jumped 1,092.68 points to 79,852.08 in early trade. The NSE Nifty surged 327 points to 24,382.60.

All the 30 Sensex firms were trading in the positive territory during the early trade. Tata Motors, Tech Mahindra, HCL Technologies, JSW Steel, HCL Technologies and Infosys were the biggest gainers from the pack.

The issue of Softbank-backed SaaS platform Unicommerce, with a price band of ₹102 to ₹108 a share, will open for public subscription between August 6 and August 8. The issue is entirely an offer for sale (OFS) aggregating up to 2.56 crore equity shares valued at ₹276.6 crore. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares.

(CMP: 686)

DOWNGRADE REDUCE TARGET: 590

Co Continues To Deliver Below- System Loan Growth & Margin Compression

Believe Mgmt Guidance Is Optimistic As Competition Would Keep Loan Growth & NIM Under Pressure

Estimate A 5% EPS CAGR Over FY24-27

(CMP: 1,061)

MAINTAIN BUY 

TARGET: 1,750

Q1 India Mobile Performance In-line

Cons Rev/EBITDA, Both Up 2% QoQ Were Slightly (1-2%) Below Est On Misses In Africa & Biz Segments

Encouragingly, India Capex Showed Signs Of Moderation, Consistent W/Past Mgmt Commentary

India Capex Drove An Improvement In FCF Generation Along With Deleveraging

EFFERIES ON ONGC (CMP: 310)

MAINTAIN BUY

TARGET: 390

Q1 Standalone EBITDA Was 3% Ahead Of Estimates

Q1 Domestic Production Was Broadly In-line

Realisations Were Slightly Ahead Of Expectations

Q1 PAT Was In-line With Estimates & Consensus, Offset By Higher D&A And Interest Expense

Growth Guidance On Production Especially Krishna Godavari Basin Key To Watch Out For

Premium Price Realisation From New Wells In Nomination Fields Key To Watch Out For

ANGEL ONE: CO’S JULY AVG CLIENT FUNDING BOOK AT RUPEES 37.3B, GROWTH OF 216.4% (YOY) || CO’S JULY CLIENT BASE AT 25.79M, GROWTH OF 4.3% (MOM) & 64.8% (YOY)

Jefferies on ONGC: Maintain Buy on Company, target price at Rs 390/Sh (Positive) 

Jefferies on Marico: Maintain Buy on Company, raise target price at Rs 780/Sh (Positive) 

GS on Marico: Maintain Buy on Company, raise target price at Rs 715/Sh (Positive) 

Citi on Bharti Airtel: Maintain Buy on Company, target price at Rs 1750/Sh (Positive) 

MS on Indigo: Maintain Overweight on Company, target price at Rs 4950/Sh (Positive) 

Citi on Indigo: Maintain Buy on Company, target price at Rs 5200/Sh (Positive) 

Emkay on Indigo: Maintain Buy on Company, target price at Rs 5300/Sh (Positive) 

Nomura on Motherson Wiring: Maintain Buy on Company, raise target price at Rs 85/Sh (Positive) 

Citi on Devyani Int: Maintain Buy on Company, raise target price at Rs 215/Sh (Positive) 

Bernstein India Strategy: US rate cuts haven’t usually moved Rupee up (Neutral) 

Jefferies India Strategy: Higher risk of US downturn now factors in a 132bps fed rate cut by Dec’24 (Neutral) 

BofA on IT Sector: Considerations for IT amidst risen risks in US economy (Neutral) 

MS on Marico: Maintain Equal weight on Company, target price at Rs 596/Sh (Neutral) 

Nomura on Honeywell: Maintain Buy on Company, target price at Rs 60800/Sh (Neutral) 

UBS on Bharti Airtel: Maintain Neutral on Company, target price at Rs 1530/Sh (Neutral) 

Macquarie on Bharti Airtel: Maintain Neutral on Company, target price at Rs 1280/Sh (Neutral) 

Macquarie on Birlasoft: Upgrade to Outperform on Company, cut target price at Rs 720/Sh (Neutral) 

HSBC on LIC Housing: Downgrade to Reduce on Company, cut target price at Rs 590/Sh (Negative)

PATEL ENGINEERING: CO ALONG WITH JV PARTNER BAGS AN IRRIGATION PROJECT OF RUPEES 317.60 CR FROM ,GOVT OF MAHARASHTRA. CO’S SHARE IN THE CONTRACT IS RUPEES 111.16 CR (SUPPORTIVE FOR STOCK PRICES)

Listing Today:

- Akums Drugs and Pharmaceuticals Limited IPO

Closing Today:

- Ola Electric Mobility Limited IPO

Opening Today:

- Brainbees Solutions (Firstcry) IPO

- Unicommerce eSolutions Limited IPO

Allotment Expected Tonight:

- Ceigall India Limited IPO

### SME IPOs

Listing Today:

- Bulkcorp International Limited IPO

- Rajputana Industries Limited IPO

- Ashapura Logistics Limited IPO

- Sathlokhar Synergys E&C Global Limited IPO

- Kizi Apparels Limited IPO

Closing Today:

- Afcom Holdings Limited IPO

- Picture Post Studios Limited IPO

Allotment Expected Tonight:

- Dhariwalcorp Limited IPO

The initial public offering of FirstCry’s parent Brainbees Solutions Ltd opens today for public subscription. The IPO, with a price band of Rs 440-465 a share, will close on August 8.

The Rs 4,193-crore public issue of Pune-based Brainbees Solutions consists of a fresh issue worth Rs 1,666 crore and an OFS (offer for sale) component of up to 5.44 crore shares worth Rs 2,528 crore by existing shareholders. 

3MINDIA, AXISCADES, BAJAJELEC, BATAINDIA, BLUEJET, BLUESTARCO, BOSCHLTD, CHAMBLFERT, CUMMINSIND, DLINKINDIA, DOLATALGO, EIHOTEL, ELANTAS, FORTIS, FUSION, GICHSGFIN, GLAND, GRAPHITE, GUJGASLTD, GULFOILLUB, HONDAPOWER, IIFL, IMAGICAA, INDIGOPNTS, INDOTECH, JMFINANCIL, KICL, KRSNAA, KSL, LINDEINDIA, LUPIN, MANINFRA, NCC, PFC, PIIND, POLICYBZR, RAIN, RAYMOND, SBCL, SHREECEM, SIGACHI, SOLARINDS, SYMPHONY, TATAPOWER, TVSMOTOR, VADILALIND, VEDL, VIPIND

Symbol: AKUMS 

Series: Equity “B Group” 

BSE Code: 544222 

ISIN: INE09XN01023 

Face Value: Rs 2/- 

Issued Price: Rs 679/- per share

Net profit up 35.1% at ₹202.5 cr vs ₹150 cr (YoY)

Revenue up 22.5% at ₹2,166.8 cr vs ₹1,768.3 cr (YoY)

EBITDA up 47.4% at ₹309.2 cr vs ₹209.7 cr (YoY)

Margin at 14.35 vs 11.9% (YoY)

RAGHUVIR SYNTHETICS Q1; NET PROFIT AT 0.52CR V 0.82CR LOSS (YOY), DOWN 85% (QOQ)

REVENUE UP 27% AT 75.2CR (YOY) ,UP 19% (QOQ)

EBITDA UP 123% AT 3.09CR (YOY), DOWN 46%(QOQ) 

MARGINS 4.07% V 2.32% (YOY), 8.97% (QOQ)

ONGC Q1; CONS NET PROFIT DOWN 9% AT 8938CR (QOQ), DOWN 15% (YOY)

REVENUE UP 2% AT 35266.4CR (QOQ) ,UP 4% (YOY)

EBITDA UP 7% AT 16975CR (QOQ), DOWN 8%(YOY) 

MARGINS 48.13% V 45.88% (QOQ), 54.52% (YOY)

(Rs. In Crs.) 

Turnover: (NSE + BSE) 

Cash Volume: 156833.47 + 13677.47 Total: 170510.94 

F&O Volume: 632442.56 + 16296759.32 Total: 16929201.88 

Provisional Cash 

FII/FPI: NET SELL: -10,073.8 

(12,724.19 - 22,797.94) 

DII: NET BUY: 9,155.55 

(23,766.90 - 14,611.35)

SCHNEIDER ELECTRIC INFRA: Q1 SL NET PROFIT 484.8M RUPEES VS 349M (YOY); 32.8M (QOQ)

SCHNEIDER ELECTRIC INFRA: Q1 REVENUE 5.93B RUPEES VS 4.95B (YOY); 4.72B (QOQ)

SCHNEIDER ELECTRIC INFRA: Q1 EBITDA 817.2M RUPEES VS 495M (YOY) || Q1 EBITDA MARGIN 13.78% VS 9.99% (YOY)

Affle India: Anuj Khanna Sohum, CMD & CEO

EBITDA And PBT Have Crossed ?100 Cr For The First-Time Ever: Affle India

Aeroflex Indust: Asad Daud, MD

Recent Acquisition To Start Contributing From Start Of Next FY: Aeroflex Industries

Bank of India: Rajneesh Karnatak, MD CEO

Net NPA Should Improve And Come Down To 0.90% By March’25: Bank of India

CAMS: Anuj Kumar, CEO

Cams Earnings: Strong Q1 Recorded, Market Trends Aid Company’s Future Growth?

DHANUKA: MK Dhanuka, MD

Dhanuka Agritech Q1: Pricing Pressure To Ease In Coming Months?

HindZinc: Arun Mishra, CEO

Hindustan Zinc: Highest-Ever Q1 Production

JK Tyre and Indu: Anuj Kathuria, President

JK Tyre Q1 Earnings: Key Growth Drivers, Global Demand Guidance For Coming Quarters

J&K Bank: Baldev Prakash, MD CEO

J&K Bank News; Centre Sets Aside ?7,900 Cr Provision

Medplus Health: G Madhukar Reddy, MD CEO

Medplus Health Q1: Strong Profits Leads To Company’s Growth, Mgmt On Store Addition Strategy In FY25

Narayana Hruda: Sandhya J, Chief Financial Officer

Saw Good Expansion In Revenue & Margin In Q1; Looking At Inorganic Growth: Narayana Health

Events today…

Results today…

Replays available at www.researchbytes.com

Asian markets are trading with gains leaded by partial recovery from equity indices of Japan and Taiwan as currency and Bond market stabilized post yesterday’s volatility. U.S. stock index futures rose recovering mildly after Wall Street logged a series of bruising losses amid growing concerns over an economic slowdown. 

Global Equity Market Update 

Dow Future (US): 39036, +333.0 points/ +0.87% 

NASDAQ Future (US): 18255, +349.0 points/ +1.97% 

DAX Future (Germany): 17559, +77.0 points/ +0.44% 

FTSE Future (UK): 8056, +26.0 points/ +0.32% 

Hang Seng Future (Hong Kong): 16867, +87.0 points/ +0.54% 

Taiex Future (Taiwan): 20109, +744.0 points/ +3.79% 

KOSPI Future (South Korea): 343, +13.8 points/ +4.17% 

Nikkei Fut (Japan): 34230, +890.0 points/ +2.47% 

Nifty: (India) 24312, +209.0 points/ +0.87%

* RBLBANK

* INDIAMART

* INDIACEM

* HINDCOPPER

* GRANULES

* GNFC

* CHAMBAL

* BSOFT

* ABCAPITAL

Pricing the IPO was never going to be an easy exercisefor Ola Electric (Ola), the first pure-play electric vehicle (EV) manufacturer attempting to list on the bourses. For one, with bulls continuing to rule the roost, it is a market where one can make hay when the sun shines, especially in themes such as EVs, which have a long runway. 

Shares of Akums Drugs and Pharmaceuticals will be listed at the bourses on Tuesday. The company has fixed the IPO price at ₹679, at the upper end of the price band ₹646-679. Analysts expect a decent listing gains of about 1-015 per cent.

Earlier, The initial public offering of Akums Drugs and Pharmaceuticals saw a robust response from all category investors, especially from institutions. The IPO that opened last Tuesday and closed on Thursday was subscribed 63.56 times, overall.

Domestic markets are expected to open on a positive note after a sharp fall on Monday, as global markets rebounded. Though Indian stocks did not witness such a nosedive like Japan’s Nikkei, Nasdaq, or other markets in the Asia Pacific region, such as Korea and Taiwan, the sentiment has turned cautious, said analysts. According to them, small-cap and mid-cap stocks may remain under pressure while large-caps will remain relatively stable.

The Union government collected over ₹24,500 crore through GST on health insurance and reinsurance premium in the last three years, Finance Ministry data showed on Monday. This will further push the demand for lowering GST on health insurance.

GST on health insurance and re-insurance premium is 18 per cent. However, schemes such as Rashtriya Swasthya Bima Yojana (RSBY), Universal Health Insurance Scheme, Jan Argoya Bima Policy and Niramaya Health Insurance Scheme do not attract GST.

Buzzing stocks: MTNL, Lupin, RITES, Hudco, Sandhar Tech, Power Mech Projects, New India Assurance, VA Tech Wabag

Reliance Industries has improved its ranking in Fortune’s Global 500 list for 2024 to 86 from 89, maintaining its top position as the highest ranked among Indian corporates. The company has gained 69 places in the last three years from 155 of 2021.

The Japanese government will continue to monitor and analyse financial market moves and work closely with relevant authorities including the Bank of Japan, Finance Minister Shunichi Suzuki said on Tuesday.

Speaking at a meeting with regional finance bureau chiefs, Suzuki said Japan “will do its utmost to manage the economy and finance while cooperating with the Bank of Japan, and make judgements on the current situation calmly.”

The Nikkei stock index soared more than 8% early on Tuesday in a relief rally after plummeting 12.4% in its worst sell-off since the 1987 Black Monday crash. - Reuters

A perfect storm of global events has come together to trigger a correction in stock markets across the world. The first signs of weakness came from the so-called Magnificent Seven stocks, which rode the Artificial Intelligence (AI) narrative to propel the US Nasdaq-100 by threefold from Covid lows. Now though, a string of weak quarterly earnings from Tesla, Microsoft, Alphabet et al has led investors to question if they have been over-investing in AI without material revenues to show for it. Fears of an ‘AI bubble’ have already tanked the Nasdaq 100 by 11 per cent from its recent peak.

3MINDIA, AXISCADES, BAJAJELEC, BATAINDIA, BLUEJET, BLUESTARCO, BOSCHLTD, CHAMBLFERT, CUMMINSIND, DLINKINDIA, DOLATALGO, EIHOTEL, ELANTAS, FORTIS, FUSION, GICHSGFIN, GLAND, GRAPHITE, GUJGASLTD, GULFOILLUB, HONDAPOWER, IIFL, IMAGICAA, INDIGOPNTS, INDOTECH, JMFINANCIL, KICL, KRSNAA, KSL, LINDEINDIA, LUPIN, MANINFRA, NCC, PFC, PIIND, POLICYBZR, RAIN, RAYMOND, SBCL, SHREECEM, SIGACHI, SOLARINDS, SYMPHONY, TATAPOWER, TVSMOTOR, VADILALIND, VEDL, VIPIND

BATAINDIA 

* Revenue expected at Rs 999 crore versus Rs 958 crore

* EBITDA expected to be seen at Rs 256 crore versus Rs 240 crore

* EBITDA margin expected to be seen at 25.62% versus 25.05%

* Net profit expected to be seen at Rs 113 crore versus Rs 107 crore

BOSCHLTD 

* Revenue expected at Rs 4311 crore versus Rs 4158 crore

* EBITDA expected to be seen at Rs 580 crore versus Rs 467 crore

* EBITDA margin expected to be seen at 13.45% versus 11.25%

* Net profit expected to be seen at Rs 493 crore versus Rs 409 crore

CHAMBLFERT 

* Revenue expected at Rs 4338 crore versus Rs 5589 crore

* EBITDA expected to be seen at Rs 604 crore versus Rs 638 crore

* EBITDA margin expected to be seen at 13.92% versus 11.41%

* Net profit expected to be seen at Rs 372 crore versus Rs 338 crore

CUMMINSIND 

* Revenue expected at Rs 2295 crore versus Rs 2208 crore

* EBITDA expected to be seen at Rs 441 crore versus Rs 340 crore

* EBITDA margin expected to be seen at 19.21% versus 15.39%

* Net profit expected to be seen at Rs 405 crore versus Rs 315 crore

GUJGASLTD 

* Revenue expected at Rs 4261 crore versus Rs 3947 crore

* EBITDA expected to be seen at Rs 494 crore versus Rs 388 crore

* EBITDA margin expected to be seen at 11.59% versus 9.83%

* Net profit expected to be seen at Rs 293 crore versus Rs 216 crore

LUPIN 

* Revenue expected at Rs 5238 crore versus Rs 4742 crore

* EBITDA expected to be seen at Rs 1060 crore versus Rs 856 crore

* EBITDA margin expected to be seen at 20.23% versus 18.05%

* Net profit expected to be seen at Rs 584 crore versus Rs 452 crore

PFC 

* NII expected at Rs 4385 crore versus Rs 3503 crore

* EBIT expected to be seen at Rs 4733 crore versus Rs 3673 crore

* Net profit expected to be seen at Rs 3814 crore versus Rs 3006 crore

PIIND 

* Revenue expected at Rs 2124 crore versus Rs 1910 crore

* EBITDA expected to be seen at Rs 567 crore versus Rs 467 crore

* EBITDA margin expected to be seen at 26.69% versus 24.45%

* Net profit expected to be seen at Rs 416 crore versus Rs 382 crore

RAYMOND 

* Revenue expected at Rs 1966 crore versus Rs 1771 crore

* EBITDA expected to be seen at Rs 188 crore versus Rs 196 crore

* EBITDA margin expected to be seen at 9.56% versus 11.06%

* Net profit expected to be seen at Rs 55 crore versus Rs 1159 crore

TATAPOWER 

* Revenue expected at Rs 16,686 crore versus Rs 15,213 crore

* EBITDA expected to be seen at Rs 3031 crore versus Rs 2943 crore

* EBITDA margin expected to be seen at 18.16% versus 19.34%

* Net profit expected to be seen at Rs 824 crore versus Rs 737 crore

TVSMOTOR 

* Revenue expected at Rs 8396 crore versus Rs 7217 crore

* EBITDA expected to be seen at Rs 962 crore versus Rs 763 crore

* EBITDA margin expected to be seen at 11.46% versus 10.57%

* Net profit expected to be seen at Rs 565 crore versus Rs 467 crore

VEDL 

* Revenue expected at Rs 36,215 crore versus Rs 33,342 crore

* EBITDA expected to be seen at Rs 9735 crore versus Rs 6420 crore

* EBITDA margin expected to be seen at 26.88% versus 19.25%

* Net profit expected to be seen at Rs 2637 crore versus Rs 860 crore

Q1FY25 EARNING CALENDAR 07.08.2024 

AADHARHFC, ABBOTINDIA, ABFRL, AHL, AIIL, APOLLOTYRE, AUTOAXLES, BALAMINES, BANARISUG, BASF, CAPLIPOINT, CARERATING, CCL, CHEMPLASTS, COROMANDEL, DISAQ, ESABINDIA, FDC, GMMPFAUDLR, GODFRYPHLP, GODREJCP, GOKEX, GPIL, GPPL, HAPPYFORGE, HARSHA, ITDCEM, KIMS, KINGFA, KIRLOSENG, LALPATHLAB, LEMONTREE, NEOGEN, NHPC, NLCINDIA, OMINFRAL, PIDILITIND, RADICO, RSYSTEMS, SAFARI, SAKSOFT, SANGHVIMOV, SIGNATURE, SULA, TALBROAUTO, TASTYBITE, TVSSRICHAK, UNOMINDA, VARROC, VENKEYS, VERANDA, WALCHANNAG, WELCORP, WPIL

ABBOTINDIA 

* Revenue expected at Rs 1582 crore versus Rs 1479 crore

* EBITDA expected to be seen at Rs 403 crore versus Rs 467 crore

* EBITDA margin expected to be seen at 25.47% versus 31.57%

* Net profit expected to be seen at Rs 326 crore versus Rs 290 crore

ABFRL 

* Revenue expected at Rs 3522 crore versus Rs 3256 crore

* EBITDA expected to be seen at Rs 315 crore versus Rs 292 crore

* EBITDA margin expected to be seen at 8.94% versus 31.57%

* Net profit expected to be seen at Rs (188) crore versus Rs (141) crore

APOLLOTYRE 

* Revenue expected at Rs 6395 crore versus Rs 6244 crore

* EBITDA expected to be seen at Rs 1005 crore versus Rs 1051 crore

* EBITDA margin expected to be seen at 15.71% versus 16.83%

* Net profit expected to be seen at Rs 377 crore versus Rs 410 crore

COROMANDEL 

* Revenue expected at Rs 4978 crore versus Rs 5693 crore

* EBITDA expected to be seen at Rs 543 crore versus Rs 709 crore

* EBITDA margin expected to be seen at 10.90% versus 12.45%

* Net profit expected to be seen at Rs 377 crore versus Rs 494 crore

GODREJCP 

* Revenue expected at Rs 3486 crore versus Rs 3448 crore

* EBITDA expected to be seen at Rs 749 crore versus Rs 642 crore

* EBITDA margin expected to be seen at 21.48% versus 18.61%

* Net profit expected to be seen at Rs 488 crore versus Rs 400 crore

GODFRYPHLP 

* Revenue expected at Rs 1170 crore versus Rs 1233 crore

* EBITDA expected to be seen at Rs 218 crore versus Rs 368 crore

* EBITDA margin expected to be seen at 18.63% versus 29.84%

* Net profit expected to be seen at Rs 240 crore versus Rs 293 crore

LEMONTREE 

* Revenue expected at Rs 269 crore versus Rs 222 crore

* EBITDA expected to be seen at Rs 126 crore versus Rs 104 crore

* EBITDA margin expected to be seen at % versus %

* Net profit expected to be seen at Rs 27 crore versus Rs 23 crore

NHPC 

* Revenue expected at Rs 2808 crore versus Rs 2757 crore

* EBITDA expected to be seen at Rs 1480 crore versus Rs 1504 crore

* EBITDA margin expected to be seen at 52.70% versus 54.55%

* Net profit expected to be seen at Rs 1091 crore versus Rs 1036 crore

PIDILITIND 

* Revenue expected at Rs 3491 crore versus Rs 3275 crore

* EBITDA expected to be seen at Rs 770 crore versus Rs 707 crore

* EBITDA margin expected to be seen at 22.05% versus 21.58%

* Net profit expected to be seen at Rs 519 crore versus Rs 468 crore

RADICO 

* Revenue expected at Rs 1120 crore versus Rs 953 crore

* EBITDA expected to be seen at Rs 137 crore versus Rs 119 crore

* EBITDA margin expected to be seen at 12.23% versus 12.48% 

* Net profit expected to be seen at Rs 68 crore versus Rs 68 crore

UNOMINDA 

* Revenue expected at Rs 3688 crore versus Rs 3092 crore

* EBITDA expected to be seen at Rs 395 crore versus Rs 330 crore

* EBITDA margin expected to be seen at 10.71% versus 10.67% 

* Net profit expected to be seen at Rs 208 crore versus Rs 172 crore

Notwithstanding the bloodbath in the equity markets, five new fund offers of mutual funds will open for subscription this week. Among them, there will be three passively managed funds of HDFC MF, Bandhan MF, Birla MF and two thematic funds of Motilal Oswal MF and Bank of India MF.

Of late, most of the mutual funds are building their passive offerings to attract new investors interested in equity investment after observing sharp run in equity indices.

Capital market regulator SEBI has directed asset management companies to adopt an institutional mechanism for identification and deterrence of market abuse including front-running and fraudulent transactions in securities. The mechanism consists of enhanced surveillance systems, internal control procedures and escalation processes to deter misuse of sensitive information.

Capital market regulator SEBI has directed mutual funds to value their investment in the AT-1 bonds issued by banks on Yield to Call basis as suggested by the National Financial Reporting Authority.

The National Financial Reporting Authority has recommended that since the market practice for AT-1 bonds has been observed to trade at or quote prices closer to Yield to Call basis, valuation of AT-1 Bonds on Yield to Call basis (adjusted with appropriate risk spreads) will be consistent with the principles of market-based measurement under Ind AS 113.

SEBI has proposed to make it mandatory for all bonus issues to be implemented within 15 days from the date of approval by board, and made available for trading within two days from the record date.

Though the ICDR Regulations prescribe overall timelines regarding implementation of the bonus issue, there are no specific timelines regarding credit of bonus shares and trading of such shares, from the record date of the issue.

The share of domestic Mutual Funds (MFs) in companies listed on the NSE rose to another all-time high of 9.17 per cent as on June 30, from 8.93 per cent a quarter ago, on the back of robust inflows totalling over ₹1 lakh crore, as per primeinfobase.com, an initiative of PRIME Database Group.

The holding of domestic institutional investors (DIIs) rose to 16.23 per cent during the quarter. Life Insurance Corporation of India (LIC), however, saw its share across 282 companies decreasing to an all-time low of 3.64 per cent.

Caterpillar, Inc. (Pre market) (Sector- Capital Goods)

Uber Technologies, Inc. (Pre market) (Sector- Technology)

Duke Energy Corporation. (Pre market) (Sector- Power)

Zoetis Inc. (Pre market) (Sector- Healthcare)

Transdigm Group Incorporated (Pre market) (Sector- Defense)

Marathon Petroleum Corporation (Pre market) (Sector- Energy)

Constellation Energy Corporation (Pre market) (Sector- Power)

Sempra (Pre market) (Sector- Energy)

MPLX LP (Pre market) (Sector- Energy)

Fidelity National Information Services, Inc. (Pre market) (Sector- Technology)

IDEXX Laboratories, Inc. (Pre market) (Sector- Healthcare)

Yum! Brands, Inc. (Pre market) (Sector- Hotels)

Vulcan Materials Company (Pre market) (Sector- Construction)

Kenvue Inc. (Pre market) (Sector- Miscellaneous)

Chunghwa Telecom Co., Ltd. (Pre market) (Sector- Technology)

GlobalFoundries Inc. (Pre market) (Sector- Technology)

Broadridge Financial Solutions, Inc. (Pre market) (Sector- Financial)

Builders FirstSource, Inc. (Pre market) (Sector- Construction)

Westlake Corporation (Pre market) (Sector- Chemicals)

Baxter International Inc (Pre market) (Sector- Healthcare)

Jacobs Solutions Inc. (Pre market) (Sector- Miscellaneous)

TPG Inc. (Pre market) (Sector- Financial)

Expeditors International of Washington, Inc. (Pre market) (Sector- Logistics)

Fox Corporation (Pre market) (Sector- Media)

Bentley Systems, Incorporated (Pre market) (Sector- Technology)

Amgen Inc. (Post market) (Sector- Healthcare)

Airbnb, Inc. (Post market) (Sector- Technology)

Itau Unibanco Banco Holding SA (Post market) (Sector- Financial)

Suncor Energy Inc. (Post market) (Sector- Energy) 

Fortinet, Inc. (Post market) (Sector- Technology)

Super Micro Computer, Inc. (Post market) (Sector- Technology)

Coupang, Inc. (Post market) (Sector- Retail)

Devon Energy Corporation(Post market) (Sector- Energy)

International Flavors & Fragrances, Inc. (Post market) (Sector- FMCG)

STERIS plc(Post market) (Sector- Healthcare)

Axon Enterprise, Inc. (Post market) (Sector- Defense)

Illumina, Inc. (Post market) (Sector- Healthcare)

American Financial Group, Inc. (Post market) (Sector- Financial)

Diageo plc (TENT) (Sector- FMCG)

KB Financial Group Inc(TENT) (Sector- Financial)

14.00 U.K. Construction PMI (Expected: 51.0 versus Previous: 52.2)

18:00 U.S. Trade Balance (Expected: -72.5B versus Previous: -75.1B)

Target: ₹1,015

CMP: ₹811.10

State Bank of India (SBI) reported Q1-FY25 PAT of ₹17,040 crore (up 1 per cent y-o-y , in line), driven by controlled opex. NII grew 5.7 per cent y-o-y to ₹41,130 crore (4 per cent miss). NIMs moderated 8bp QoQ to 3.22 per cent.

Opex growth was under control at 1 per cent y-o-y to ₹25,840 crore (9 per cent lower than MOFSLe), resulting in 5 per cent y-o-y growth in PPoP to ₹26,450 crore (in line).

Target: ₹3,730

CMP: ₹3,374.20

Titan’s Jun-Q earnings were above expectations. Revenue was already known from the prequarter update; however, EBIT was ahead of our forecasts primarily on account of better than expected Jewellery division margins. Contrary to ours and street expectation of margin compression due to weaker sales and mix, the division margin expanded by 20bps led by stable GM & tighter cost control.

Here’s an interesting stock idea: The stock idea that we have for you today is Chemplast Sanmar. This stock has been getting strong buying interest on dips over the last couple of days. This is happening inspite of the sharp sell-off that is happening in the broader market. That leaves the bias positive for the stock.

Chemplast Sanmar shares are getting bought on dips over the last two trading days. This is amid the strong sell-off that is happening in the broader market. That leaves the bias positive for the Chemplast Sanmar.

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

Asian stocks rebounded in early trading Tuesday after a historic selloff driven by concerns over the US economy and a stronger yen.

The benchmark Nikkei 225 index surged 8.86%, or 2,786.55 points, to 34,244.97, while the Topix rose 9.20%, or 204.79 points, to 2,431.94.

On Monday, the Nikkei had plunged 12.40%, or 4,451.28 points, marking the largest points drop in its history.

Meanwhile, South Korea’s KOSPI climbed 4.30%, or 104.88 points, to 2,546.43, and Australia’s S&P/ASX 200 advanced 0.71%, or 54.10 points, to 7,703.70.