Stock Market Live Updates August 1, 2024: Nifty breaches 25,000 level in opening trade, Sensex up 378 points

Hero FinCorp, the financial services division of two-wheeler manufacturer, Hero MotoCorp, has filed preliminary papers with capital markets regulator SEBI to raise ₹3,668 crore through an initial public offering (IPO).

(PTI)

Wainganga Expressway Private Limited, wholly-owned subsidiary of Kalpataru Projects International, has received an Arbitration Award wherein the Arbitral Tribunal by way of a majority award has allowed certain claims of WEPL, against National Highways Authority of India (NHAI).

The Arbitral Tribunal has laid down the principles for computing the claim of WEPL (net of premium payable by WEPL) and directed the parties to compute the compensation amount. 

Kalpataru Projects International stock trades at ₹1,365.10 on the NSE, down by 0.43%.

The manufacturing sector slowed down marginally in July due to softness in new orders, but that did not impact job creation, private survey results released on Thursday showed. However, the sector faces inflation, the strongest in nearly 11 years.

The results, popularly known as the HSBC Purchasing Managers’ Index (PMI), dropped a tad to 58.1 in July, as against 58.3 in June. 

Read more

Coal India (3.06%), ONGC (2.35%), Lupin (2.03%), SBI Life Insurance (1.50%), NTPC (1.47%), MCX (1.05%)

Fed Chair Jerome Powell sent a clear signal during his post-FOMC news conference that a September rate cut is on the table if data evolve as he expects and offering several dovish characterizations of the economy. That signal is tempered by a notably less dovish policy statement, which contained only subtle hints of an impending rate cut.

Following Powell’s news conference, fed funds futures continued to fully price an initial 25-bp rate cut in September. Further out the curve, expectations for cumulative rate cuts increased.

Treasury yields reversed and fell 9 bps to 11 bps points across the curve on the day. Benchmark US equities rallied, with the S&P 500 closing 1.6% higher.

Moreover, it had a positive impact on the Indian market, which touched the magical 25K mark on Nifty.

“To state that the markets are awaiting a September rate cut with anticipation is to state the obvious. As evidence, consider the fact that the Dow Jones has rallied 400 points as the pathway to September starts materialising concretely. To me, this is a pivotal point that hints at a narrative turnaround, provided no unforeseen economic, geo-political or financial shock appears out of the blue.

There, of course, is the larger, looming risk that the Fed could overplay its hawkish hand. In its zeal to clinch low and stable inflation, it could, possibly, nudge the US economy into recession territory, under the burden of interest rates operating at a 22-year high. However, the US GDP growth rate at 2.1% for the first half of the year signals that there is more than enough resilience in the US economy, and the odds of the US economic activity tipping into negative territory are slim.

Despite the incredible market rally we have witnessed this year, a September rate cut would have a further multiplier effect that will send US benchmarks soaring higher. From here on forth, think of the markets waiting eagerly with their “fingers crossed” till the September Fed meet

IndusInd Bank has launched ‘PIONEER Private’, curated financial solutions for the HNI / UNHI segment.

IndusInd Bank stock trades flat at ₹1,434 on the NSE.

Exicom Power Solutions B.V, a wholly-owned subsidiary of Exicom Tele-Systems Limited, has acquired 12,000 ordinary shares of $0.01 per share of Tritium Power Solutions Pty Ltd., Queensland from Raj Kumar, resident of 6 Hunt Club Road, Narre Warren South VIC 3805, at a consideration of $ 120 representing 100% paid up share capital of Tritium Power Solutions Pty Ltd. 

Exicom Tele-Systems stock rose 1.50% on the NSE, trading at ₹453.35.

Hero MotoCorp has commenced operations in the Philippines. The stock trades at ₹5,410 on the NSE, down by 0.71%

Tata Motors Limited sales in the domestic & international market for July 2024 stood at 71,996 vehicles, compared to 80,633 units during July 2023.

Stock trades flat ₹1,161.70 on the NSE.

Top gainers on the BSE at 10.30 am:

FSL (9.17%), PCBL (8.54%), IIFL (8%), SIS (7.74%), Lloyds Metal (7.28%)

Top losers:

Sonata Software (-7.57%), KRBL (-6.46%), Redington (-3.42%), CCL (-3.33%), Godrej Agro (-3.27%)

Track the Maruti Suzuki share price movements here

FOMC kept the rates on hold for the 8th consecutive meeting. FOMC while highlighting further progress on the inflation front mention it remains “somewhat elevated”. FOMC acknowledges that the job gains have moderated. The Committee is attentive to the risks to both sides of its dual mandate and needs greater confidence that inflation is moving towards 2% before cutting rates. With inflation cooling off and job growth slowing down, Fed would begin to dial down the tightening done over last 2 year in the September 2024 policy and assist in soft landing of the economy.

September Rate Cut Hopes Fuels a Global Rally

US Fed Chief Jerome Powell kept rates unchanged in the recently concluded meeting. However, he clearly stated that if inflation remains on the anticipated trajectory of 2% then a rate cuts might happen as early as September. This unleashed animal spirits and pushed the bond and equity prices higher globally. US 10 year bond yields which are inversely correlated to bond prices slipped sharply lower and are on the verge of falling below 4% mark. This is a big positive for the markets as the cost of capital for corporates and consumers is falling. Riskier assets like emerging markets and metals are likely to do well. Precious metals like gold and silver too should benefit from rate cuts.

The central government’s fiscal deficit in 1QFY25 remained low at 8.4% of FY2025BE, aided by strong direct tax collection growth and a slow spending pace. Income tax growth was strong at 50% in 1QFY25. While the pace of spending picked up in June after a slow pace during the election, the pace of capex remains slow. We expect the government to achieve its FY2025BE GFD/GDP target of 4.9%.

Tax collections buoyed by direct taxes in 1QFY25

Central government’s total receipts were at 26% of FY2025BE in 1QFY25, 39% higher than 1QFY24, led by direct taxes and RBI surplus transfer (Exhibit 1). Gross tax revenue was 22% of FY2025BE (24% higher than 1QY24), driven mainly by income tax collections at 25% of FY2025BE (50% higher than 1QFY24). Corporate tax collection in 1QFY25 was 17% of FY2025BE (26% lower than 1QFY24).

Indirect tax growth was relatively tepid at 5.5%. Customs duty collection growth was (-)4.3% and excise duty collection growth was (-)0.9%. GST collection growth was 9.1%. Non-tax revenue was 51% of FY2025BE.

Pace of expenditure slow in 1QFY25; picks up in June

Center’s expenditure in 1QFY25 was 20% of FY2025BE (7.7% lower than 1QFY24). However, the pace picked up in June, with expenditure increasing 73% mom on the back of revenue expenditure at 99% mom. Revenue expenditure was 21% of FY2025BE (2.2% higher than 1QFY24).

Capital expenditure in 1QFY25 at 16% of FY2025BE (35% lower) has been slow due to the elections, but remained sluggish at 16% lower mom in June too. The slow pace of capex was visible across (1) roads at 22% of FY2025BE (40% lower), (2) railways at 26% of FY2025BE (15% lower), (3) defense at 8% of FY2025BE (25% lower) and (4) loans to states for capex at 12% of FY2025BE (Exhibit 1).

Government will keep FY2025 GFD/GDP within 4.9%

Center’s fiscal deficit in 1QFY25 remained low at 8.4% of FY2025BE. We expect revenue collections to largely be in line with the FY2025 budget targets. Corporate tax growth will likely pick up from August, a trend seen in FY2024 too. Income tax growth should remain strong and could surprise on the upside, possibly offsetting shortfalls in divestment or customs duty collections. On the expenditure side, the government has some buffers to modulate spending. This provides some flexibility in keeping GFD/GDP within the 4.9% target (Exhibit 2). We do not pencil in any changes to the borrowings for now

“Largely dovish tone from the Fed, seems like they almost cut without cutting! Jerome Powell has set the bar on a September (next FOMC) cut quite low. 

Good for risk-on trades - equities in general. US tech rallied last night, and investor sentiment is likely to remain buoyed in India too. 

Good portends for equities till the end of this year. While pockets of over-valuation remain, a supportive “beta” backdrop is giving opportunities to investors to systematically rotate out of heated themes/sectors (defence, railways, some of the smaller companies) into those with greater margins of safety (financials especially).”

[9:45 am, 1/8/2024] KS BadriNarayanan: Economy: Government spending picks up pace in June by Kotak Institutional Equities.

Government spending picks up pace in June

The central government’s fiscal deficit in 1QFY25 remained low at 8.4% of FY2025BE, aided by strong direct tax collection growth and a slow spending pace. Income tax growth was strong at 50% in 1QFY25. While the pace of spending picked up in June after a slow pace during the election, the pace of capex remains slow. We expect the government to achieve its FY2025BE GFD/GDP target of 4.9%.

Tax collections buoyed by direct taxes in 1QFY25

Central government’s total receipts were at 26% of FY2025BE in 1QFY25, 39% higher than 1QFY24, led by direct taxes and RBI surplus transfer (Exhibit 1). Gross tax revenue was 22% of FY2025BE (24% higher than 1QY24), driven mainly by income tax collections at 25% of FY2025BE (50% higher than 1QFY24). Corporate tax collection in 1QFY25 was 17% of FY2025BE (26% lower than 1QFY24).

Indirect tax growth was relatively tepid at 5.5%. Customs duty collection growth was (-)4.3% and excise duty collection growth was (-)0.9%. GST collection growth was 9.1%. Non-tax revenue was 51% of FY2025BE.

Pace of expenditure slow in 1QFY25; picks up in June

Center’s expenditure in 1QFY25 was 20% of FY2025BE (7.7% lower than 1QFY24). However, the pace picked up in June, with expenditure increasing 73% mom on the back of revenue expenditure at 99% mom. Revenue expenditure was 21% of FY2025BE (2.2% higher than 1QFY24).

Capital expenditure in 1QFY25 at 16% of FY2025BE (35% lower) has been slow due to the elections, but remained sluggish at 16% lower mom in June too. The slow pace of capex was visible across (1) roads at 22% of FY2025BE (40% lower), (2) railways at 26% of FY2025BE (15% lower), (3) defense at 8% of FY2025BE (25% lower) and (4) loans to states for capex at 12% of FY2025BE (Exhibit 1).

Government will keep FY2025 GFD/GDP within 4.9%

Center’s fiscal deficit in 1QFY25 remained low at 8.4% of FY2025BE. We expect revenue collections to largely be in line with the FY2025 budget targets. Corporate tax growth will likely pick up from August, a trend seen in FY2024 too. Income tax growth should remain strong and could surprise on the upside, possibly offsetting shortfalls in divestment or customs duty collections. On the expenditure side, the government has some buffers to modulate spending. This provides some flexibility in keeping GFD/GDP within the 4.9% target (Exhibit 2). We do not pencil in any changes to the borrowings for now

Amara Raja Advanced Cell Technologies Private Limited (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility Limited (ARE&M), will be signing a Memorandum of Understanding (MoU) with Ather Energy to develop and supply NMC (Nickel Manganese Cobalt) and LFP (Lithium Iron Phosphate) Lithium-Ion (Liion) and other advanced chemistry cells, produced locally at their upcoming Gigafactory in Divitipally, Telangana. 

Amara Raja stock rose 1.07% on the NSE, trading at ₹1,643.75

Indian Overseas Bank has conveyed sanction to the One Time Settlement (OTS) proposal submitted by PC Jeweller. The company had opted for OTS to settle the outstanding dues.

PC Jeweller stock surges 5% , trades at upper circuit (₹98.56).

IOB stock rose 1.54% on the NSE, trading at ₹67.73

Escorts Kubota Ltd Agri Machinery Business Division in July 2024 sold 5,769 tractors, registering a growth of 3.6 per cent, as against 5,570 tractors sold in July 2023. 

Escorts Kubota stock trades flat at 4,182.55 on the NSE.

Top gainers: Maruti (3.21%), Hindalco (2.43%), Coal India (2.42%), JSW Steel (2.10%), Power Grid (1.94%)

Top losers: M&M (-1.65%), BPCL (-1.29%), Hero Motocorp (-1.09%), Sun Pharma (-0.79%), Eicher Motors (-0.69%):

Maruti (3.21%), Hindalco (2.43%), Coal India (2.42%), JSW Steel (2.10%), Power Grid (1.94%)

Top losers:

M&M (-1.65%), BPCL (-1.29%), Hero Motocorp (-1.09%), Sun Pharma (-0.79%), Eicher Motors (-0.69%)

Silver surged after the dollar index fell below 104, reaching a two-week low as the Federal Reserve indicated a willingness to cut interest rates in September amid strengthening inflation statistics. The central bank left the fed funds rate unchanged, as predicted, and observed that, while inflation remains elevated, it has moderated and is moving closer to the objective. Markets are fully priced for a 25 basis point rate decrease in September, with more than 70 basis points of easing expected this year. On the data front, economic indicators released on Wednesday, including the ADP report and employment costs for the second quarter, indicated to a cooling labour market, as investors await the highly awaited monthly jobs report on Friday.

Key economic data slated for release includes BOE Monetary Policy Report from GBP Zone, German Final Manufacturing PMI, Unemployment Rate, ECB Economic Bulletin from Euro Zone and Unemployment Claims, ISM Manufacturing PMI from US Zone.

Gold prices remained at a two-week high as U.S. Federal Reserve Chair Jerome Powell kept interest rates unchanged but hinted at rate cuts as early as September. Fed Chair Jerome Powell said rates might be cut as soon as September if the U.S. economy continues its forecast path, bringing the central bank close to the end of a more than two-year war against inflation but right in the heart of the presidential election campaign. Data indicated that U.S. labour expenses increased marginally in the second quarter, with private sector wages growing at the weakest rate in three and a half years, providing fresh indication that inflation was firmly on the decline. SPDR Gold Trust said its holdings increased 0.34% to 846.05 tonnes on Wednesday, up from 843.17 tonnes on Tuesday.

Key economic data slated for release includes BOE Monetary Policy Report from GBP Zone, German Final Manufacturing PMI, Unemployment Rate, ECB Economic Bulletin from Euro Zone and Unemployment Claims, ISM Manufacturing PMI from US Zone.

31/07/2024

CASH MARKET

FII : - 3462

DII/MF : + 3366

F&O

FII :

INDEX FUTURES : - 1266 Crore

INDEX OPTIONS : + 42181 Crore

STOCK FUTURES : - 639 Crore

STOCK OPTIONS : - 1501 Cror

Crude oil futures traded higher on Thursday morning due to fears of a possible supply disruptions following the assassination of a Hamas leader in Iran. At 9.13 am on Thursday, October Brent oil futures were at $81.25, up by 0.51 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $78.44, up by 0.68 per cent. August crude oil futures were trading at ₹6570 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹6524, up by 0.71 per cent, and September futures were trading at ₹6498 against the previous close of ₹6452, up by 0.71 per cent.

Ajmera Realty & Infra India Limited (Demerged Company)

Radha Raman Dev Ventures Private Limited (Resulting Company)

Symbol: AJMERA 

Stock Price: 752.40 /-

Last cum date: 01st Aug 2024 (Today)

Record date: 02 Aug 2024\u0009

Ratio : 1:50 (for every 50 share held in Ajmera Realty, the shareholders will receive 1 share in Radha Raman Dev Ventures)

Dividend Dates\u0009\u0009 

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Ex-Dividend 02 Aug 2024 (Tomorrow)\u0009\u0009 

Last date for Cum-Dividend Today\u0009\u0009 

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Adc India Communications Limited\u0009\u0009 

Special Dividend Per Share Rs.25\u0009\u0009 

Dividend Per Share Rs.5\u0009\u0009 

Previous day Closing Price – Rs. 1941.6\u0009\u0009 

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Allied Digital Services Ltd.\u0009\u0009 

Dividend Per Share Rs.1.5\u0009\u0009 

Previous day Closing Price – Rs. 217.9\u0009\u0009 

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Ajmera Realty & Infra India Ltd.\u0009\u0009 

Dividend Per Share Rs.4\u0009\u0009 

Previous day Closing Price – Rs. 752.4\u0009\u0009 

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Avt Natural Products Ltd.\u0009\u0009 

Dividend Per Share Rs.0.5\u0009\u0009 

Previous day Closing Price – Rs. 88.27\u0009\u0009 

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Bdh Industries Ltd.\u0009\u0009 

Dividend Per Share Rs.4.5\u0009\u0009 

Previous day Closing Price – Rs. 388.8\u0009\u0009 

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Bengal Tea & Fabrics Ltd.\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 166.3\u0009\u0009 

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Bhagiradha Chemicals & Industries Ltd.\u0009\u0009 

Dividend Per Share Rs.0.1\u0009\u0009 

Previous day Closing Price – Rs. 369.5\u0009\u0009 

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Bigbloc Construction Ltd\u0009\u0009 

Dividend Per Share Rs.0.4\u0009\u0009 

Previous day Closing Price – Rs. 266.25\u0009\u0009 

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Cello World Ltd\u0009\u0009 

Dividend Per Share Rs.1.5\u0009\u0009 

Previous day Closing Price – Rs. 949.35\u0009\u0009 

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Cholamandalam Financial Holdings Ltd\u0009\u0009 

Dividend Per Share Rs.0.55\u0009\u0009 

Previous day Closing Price – Rs. 1517.05\u0009\u0009 

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Cipla Ltd.\u0009\u0009 

Dividend Per Share Rs.13\u0009\u0009 

Previous day Closing Price – Rs. 1543.85\u0009\u0009 

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Coforge Ltd\u0009\u0009 

Dividend Per Share Rs.19\u0009\u0009 

Previous day Closing Price – Rs. 6304.7\u0009\u0009 

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Coromandel Agro Products & Oils Ltd.\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 2.58\u0009\u0009 

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Divi’S Laboratories Ltd.\u0009\u0009 

Dividend Per Share Rs.30\u0009\u0009 

Previous day Closing Price – Rs. 4922.45\u0009\u0009 

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Everest Industries Ltd.\u0009\u0009 

Dividend Per Share Rs.2.5\u0009\u0009 

Previous day Closing Price – Rs. 1200.6\u0009\u0009 

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Flex Foods Ltd.\u0009\u0009 

Dividend Per Share Rs.0.5\u0009\u0009 

Previous day Closing Price – Rs. 156.6\u0009\u0009 

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Gloster Ltd\u0009\u0009 

Dividend Per Share Rs.20\u0009\u0009 

Previous day Closing Price – Rs. 830.4\u0009\u0009 

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Gmm Pfaudler Ltd.\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 1444.7\u0009\u0009 

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Hb Stockholdings Ltd.\u0009\u0009 

Dividend Per Share Rs.1.5\u0009\u0009 

Previous day Closing Price – Rs. 175.55\u0009\u0009 

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Indigo Paints Ltd\u0009\u0009 

Dividend Per Share Rs.3.5\u0009\u0009 

Previous day Closing Price – Rs. 1499.35\u0009\u0009 

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Jupiter Life Line Hospitals Ltd\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 1338.35\u0009\u0009 

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Jubilant Ingrevia Ltd\u0009\u0009 

Dividend Per Share Rs.2.5\u0009\u0009 

Previous day Closing Price – Rs. 604.65\u0009\u0009 

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Jubilant Pharmova Ltd\u0009\u0009 

Dividend Per Share Rs.5\u0009\u0009 

Previous day Closing Price – Rs. 774.05\u0009\u0009 

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Keltech Energies Ltd.\u0009\u0009 

Dividend Per Share Rs.1.5\u0009\u0009 

Previous day Closing Price – Rs. 4111.55\u0009\u0009 

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Lakshmi Electrical Control Systems Ltd.\u0009\u0009 

Dividend Per Share Rs.15\u0009\u0009 

Previous day Closing Price – Rs. 1609.55\u0009\u0009 

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C.E. Info Systems Ltd\u0009\u0009 

Dividend Per Share Rs.3.5\u0009\u0009 

Previous day Closing Price – Rs. 2379.6\u0009\u0009 

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Maruti Suzuki India Ltd.\u0009\u0009 

Dividend Per Share Rs.125\u0009\u0009 

Previous day Closing Price – Rs. 13167.95\u0009\u0009 

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Matrimony.Com Ltd\u0009\u0009 

Dividend Per Share Rs.5\u0009\u0009 

Previous day Closing Price – Rs. 663.5\u0009\u0009 

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Mindteck (India) Ltd.\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 441.05\u0009\u0009 

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Monarch Networth Capital Ltd\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 673.95\u0009\u0009 

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Munjal Showa Ltd.\u0009\u0009 

Dividend Per Share Rs.4.5\u0009\u0009 

Previous day Closing Price – Rs. 183.15\u0009\u0009 

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Narayana Hrudayalaya Ltd\u0009\u0009 

Dividend Per Share Rs.4\u0009\u0009 

Previous day Closing Price – Rs. 1257.85\u0009\u0009 

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Premco Global Ltd.\u0009\u0009 

Dividend Per Share Rs.2\u0009\u0009 

Previous day Closing Price – Rs. 470.7\u0009\u0009 

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Sahyadri Industries Ltd.\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 399.35\u0009\u0009 

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Sharda Cropchem Ltd\u0009\u0009 

Dividend Per Share Rs.3\u0009\u0009 

Previous day Closing Price – Rs. 568.25\u0009\u0009 

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Share India Securities Ltd\u0009\u0009 

Dividend Per Share Rs.0.4\u0009\u0009 

Previous day Closing Price – Rs. 305.1\u0009\u0009 

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Shilchar Technologies Ltd.\u0009\u0009 

Dividend Per Share Rs.12.5\u0009\u0009 

Previous day Closing Price – Rs. 6716.45\u0009\u0009 

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Shri Dinesh Mills Ltd.\u0009\u0009 

Special Dividend Per Share Rs.20\u0009\u0009 

Dividend Per Share Rs.10\u0009\u0009 

Previous day Closing Price – Rs. 557.6\u0009\u0009 

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Tvs Electronics Ltd.\u0009\u0009 

Dividend Per Share Rs.1\u0009\u0009 

Previous day Closing Price – Rs. 380.9\u0009\u0009 

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Vedanta Limited\u0009\u0009 

Dividend Per Share Rs.4\u0009\u0009 

Previous day Closing Price – Rs. 451\u0009\u0009 

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Wim Plast Ltd.\u0009\u0009 

Dividend Per Share Rs.10\u0009\u0009 

Previous day Closing Price – Rs. 650.85\u0009\u0009 

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Wpil Ltd.\u0009\u0009 

Dividend Per Share Rs.20\u0009\u0009 

Previous day Closing Price – Rs. 517.95

The IPO of Ceigall India, an infrastructure construction company, opens to the public today. The ₹1,252.66-crore IPO consists of a fresh issue of up to ₹684.25 crore and an offer-for-sale of up to 1.42 crore shares worth ₹568.41 crore by promoter selling shareholders and individual selling shareholders. The IPO closes on August 5. The price band for the offer has been determined at ₹380–401 a share. Read more

Domestic markets are expected to sustain the momentum on August 1 as well. Despite mixed global cues, analysts expect a positive beginning. The US stocks on Wednesday closed on a high note despite the US Fed keeping the rate unchanged. The Federal Open Market Committee voted unanimously to leave the benchmark rate unchanged in the target range of 5.25%-5.5%, a more than two-decade high, for the eighth straight meeting. Read more

Angel One Wealth Limited (AOW) is redefining wealth management for India’s affluent HNI and UHNI clientele through a synergy of domain expertise and innovative tech application. Strategically backed by Angel One, AOW is developing an omnichannel wealth-tech platform comprising three integrated business verticals – HNI, UHNI and Alternate Assets. This platform merges sophisticated investment strategies with seamless service delivery by a team of wealth managers, market strategists and technology specialists.

The landscape of wealth management is rapidly evolving, with a 16% CAGR of India’s HNI population, projected to grow to 1.65 million by 2027, as per industry reports. AOW’s strategy rests on three key pillars tailored to meet the unique needs of HNI and UHNI segments – comprehensive investment products across diverse asset classes, technology-driven accessibility for clients and support of relationship managers and top-tier talent equipped with deep market insights. By adopting this approach, AOW aims to overcome industry challenges such as barriers to innovation in investment strategies, high operational cost and higher fees using new-age tech infrastructure. The Rs 2.5 billion capital infused by Angel One will be strategically deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop curated, expert-led product strategies and suites.

Ceigall India Limited, an infrastructure construction company, having completed over 34 projects across ten states in India with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, metros, expressways and runways, has garnered Rs. 375.20 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, August 1, 2024. The company informed the bourses that it allocated 93,56,581 equity shares at Rs. 401 per share on Wednesday, July 31, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Nomura Funds Ireland Public Ltd – India Equity Fund, ICICI Prudential Flexicap Fund, HDFC Smallcap Fund, HDFC Trustee Company Ltd, Nippon Life India Smallcap Fund, Kotak Infrastructure & Economic Reform Fund, Axis Mutual Fund, Bandhan Infrastructure Fund, SBI General Insurance Company, Nataxis International Fund, Carmignac Portfolio, Goldman Sachs (Singapore) PTE- ODI, Tata Multicap Fund, Tata Dividend Yield Fund, ICICI Prudential Life Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd, Max Life Insurance Ltd, Edelweiss Trusteeship Co. Ltd. Bank of India Manufacturing & Infrastructure Fund, Universal Sompo General Insurance Company Ltd, Hero Venture Trust, Integrated Core Strategies(Asia) PTE., Ltd. Societe Generale, Morgan Stanley Asia (Singapore) PTE., Citigroup Global Markets Mauritius Pvt. Ltd..

Out of the total allocation of 93,56,581 equity shares to the anchor investors, 50,89,727 equity shares were allocated to 9 domestic mutual funds through a total of 13 schemes amounting to Rs. 204.10 crore (approx.) i.e. 54.40% of the Total Anchor Book Size.

ICICI Securities Limited, IIFL Securities Limited, and JM Financial Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

Axis Bank offers a wide range of banking services in India, including cash and credit management, retail banking, investment management and treasury services

In Q1FY25, the bank’s net interest income (NII) rose 12.5% YoY to Rs. 13,448cr (+2.7% QoQ), driven by growth in higher yielding assets.

Asset quality improved with net non-performing assets (NPAs) and gross NPA declining to 0.34% and 1.54%, respectively (vs. 0.41% and 1.96% in Q1FY24).

Axis Bank reported a decent quarter, with its loan book and net profit rising. Asset quality continues to remain healthy despite higher slippages. Also, with better asset mix and granularisation of deposits, the bank has been able to keep NIM stable.

Therefore, we continue to remain optimistic about its long-term growth prospects. Hence, we maintain our BUY rating on the stock with a revised target price of Rs. 1,349 based on 2.0x FY26E book value per share (BVPS).

The Indian stock markets had another uneventful trading session with the benchmark index staying within a narrow range of around 130 points. Although the Nifty50 index continued its winning streak, its lackluster movement suggests that it is in a slumber zone. With some respite in the penultimate hour, the Nifty50 index concluded the day above 24950, procuring 0.38 percent of gains.

The trading range has consistently tightened during this week’s trading sessions, reflecting a cautious approach at the elevated zone. The lack of significant domestic triggers appears to be driving the consolidation in the benchmark. Nevertheless, the broader market is showing signs of gaining momentum and is keeping the traders’ fraternity engaged. On the technical front, the outlook for the benchmark remains positive as any declines are consistently met with buying interest and the recent developments have confirmed this trend. Once we firmly surpass the milestone of 25000, a strong rally toward the 161.8% retracement level of the previous week’s swing at 25340 is expected for the Nifty on an intermediate basis. In addition to that, it’s important to note that the lower band of consolidation at 24800 should be considered as intermediate support, followed by strong support at the 24600-24500 zone.

The stance seems bullish, and any participation in the high beta space – Bank Nifty, could ignite the momentum to propel the benchmark into uncharted terrain. The outcome of the Federal Reserve meeting is likely to determine the short-term trend for global and, eventually, our domestic markets. Therefore, it is important to monitor global developments and make trades accordingly.

Benchmark indices experienced narrow activity on Wednesday. Nifty closed 93 points higher, while Sensex was up 249 points. In terms of sectors, the media, metal, and pharma indices all gained over 1 per cent, while PSU bank and realty stocks saw some profit booking.

From a technical perspective, the market has shown a narrow range of activity this week. It has consistently found support between 24800-24750/81100-81000 on the downside, with profit booking observed between 24950-24980/81750-81800. If the market goes above 24980/81800, it could rally to 25050-25125/82200-82500. However, if it falls below 24750/81000, the market sentiment may change, potentially leading to a decline to 24650-24500/80800-80500 levels.

The Bank-Nifty has been consolidating within a 1000-point trading range for the last 3 days. On Wednesday, it traded within the narrowest range of the past 9 days, hinting at a potential break of the range in the near term.

The recommended strategy is to reduce long positions between 25050/25150 levels.

“The benchmark Nifty is set to reach 25,000 for the first time this Thursday, August 1st, marking a significant milestone for Indian investors. Corporate India appears robust amid this record high, reflecting a positive economic outlook. Meanwhile, the Federal Reserve has maintained interest rates at a 23-year high of 5.25 to 5.50%, signaling potential future adjustments. Stay tuned as Q1 results from major companies like AB CAPITAL, ADANI ENTERPRISES, DABUR, and others are expected today. For traders, consider buying Nifty (24951) and Bank Nifty (51533) with bullish targets, and watch stocks like M&M FINANCIAL, SIEMENS, and others for potential breakout opportunities.”

Property sales sentiment in China remained weak in July despite the low base of 2H23; likely muted policies in the near term

Property sales remained on a weakening trajectory in July. The top 100 property developers’ contracted sales registered a 20.5% yoy decline in July 2024, largely unchanged from the 21.8% y-y decrease seen in June 2024; however, considering the low base effect of July 2023 (total monthly contracted sales value of CNY381bn by the top 100 developers, the second lowest monthly sales level seen in 2023), the y-y deterioration in July 2024 property sales value of the top 100 developers indicates continued weakening of property sector, in our view. The main drivers behind the sales weakness in July 2024, in addition to the seasonality of July-August, include: (1) the fading support of governments’ easing measures introduced in May-June (Concrete measures aiming at sector turnaround), (2) limited supply of new primary projects available on the market, (3) the negative impact of the bad weather this year, and (4) more importantly, the still-cautious outlook of housing price trends of homebuyers, in our view.

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 18:23 PM Wednesday 31 July 2024

Ambuja Cements: Ajay Kapur, CEO

Why Did Ambuja Cements’ Q1 FY25 Performance Fall Short Despite Revenue Growth and Cost Reductions?

https://www.youtube.com/watch?v=D6_zglxQCO0

Arvind SmartSpaces: Kamal Singhal, MD and CEO

Target Launch Of Inventory Worth ?2,300-2,500 Cr In The Remainder Of FY25: Arvind SmartSpaces

https://www.youtube.com/watch?v=T7VdZUO0pLI

Castrol: Sandeep Sangwan, MD

We Are Trying To Balance Topline Growth With Bottomline Growth: Castrol India

https://www.youtube.com/watch?v=iQkDXnA4Ob4

Capital SFB Ltd: Sarvjit Singh Samra, MD & CEO

Growth In Advances And Deposits In-Line With Estimates: Capital Small Fin Bank

https://www.youtube.com/watch?v=2DN0X3_koM8

Dixon Technolog: Saurabh Gupta, CFO

IT Hardware Will Start Contributing In Meaningful Numbers In The Next 12-15 Months: Dixon Tech

https://www.youtube.com/watch?v=-AbiGVns6eE

Greenpanel Industries: V Venkatramani, CFO

Targetting 15% Margin For The Year; 16% For The MDF Segment: Greenpanel Industries

https://www.youtube.com/watch?v=ktUU0MZUXZI

IndiaMART InterMESH : Dinesh Agarwal, Founder & MD

Indiamart Q1 Earnings Update: New Product Launches To Aid Weak Margins For Future?

https://www.youtube.com/watch?v=wsoZbhr0YL8

Ideaforge Techn: Ankit Mehta, CEO & Whole Time Director

IdeaForge Technology Posts A Weak Set Of Q1 Earnings With Their Margin & Profit Contracting

https://www.youtube.com/watch?v=MJDbGksAo-4

Jindal Stainles: Anurag Mantri, Group CFO

Highest-Ever Sales Recorded In Q1; Domestic Demand Remains Strong: Jindal Stainless

https://www.youtube.com/watch?v=5yC-NUtM8PM

M&M: Rajesh Jejurikar, ED and CEO

M&M Q1: Beat On Margins & Operations, PAT In-Line | Market Share Gains In Tractor, SUVs

https://www.youtube.com/watch?v=rQW81gKJthU

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

ABCAPITAL, ADANIENT, ADANIPORTS, AKZOINDIA, ALKYLAMINE, APTUS, ARVINDFASN, BOMDYEING, CLEAN, DABUR, DATAMATICS, EMAMILTD, ESCORTS, GESHIP, GODREJAGRO, GRINFRA, HPL, INDGN, ITC, IXIGO, JTEKTINDIA, KALYANKJIL, KCP, KSB, MAXHEALTH, NEULANDLAB, NIITMTS, ORIENTELEC, PARADEEP, PRINCEPIPE, RAILTEL, REPCOHOME, RTNPOWER, SOMANYCERA, SUNPHARMA, SURAJEST, SURYODAY, TATAMOTORS, THERMAX, TRIVENI, WELENT, ZOMATO

ADANI ENT

* Revenue expected at Rs 30,154 crore versus Rs 25,438 crore

* EBITDA expected to be seen at Rs 3825 crore versus Rs 2524 crore

* EBITDA margin expected to be seen at 12.68% versus 9.92%

* Net profit expected to be seen at Rs 1164 crore versus Rs 673 crore

ADANIPORT

* Revenue expected at Rs 6891 crore versus Rs 6247 crore

* EBITDA expected to be seen at Rs 4091 crore versus Rs 3764 crore

* EBITDA margin expected to be seen at 59.3% versus 60.2%

* Net profit expected to be seen at Rs 2257 crore versus Rs 2114 crore

DABUR

* Revenue expected at Rs 3340 crore versus Rs 3130 crore

* EBITDA expected to be seen at Rs 659 crore versus Rs 604 crore

* EBITDA margin expected to be seen at 19.7% versus 19.3%

* Net profit expected to be seen at Rs 498 crore versus Rs 463 crore

ITC

* Revenue expected at Rs 17,664 crore versus Rs 18,639 crore

* EBITDA expected to be seen at Rs 6683 crore versus Rs 6670 crore

* EBITDA margin expected to be seen at 37.8% versus 35.7%

* Net profit expected to be seen at Rs 5237 crore versus Rs 5104 crore

MAXHEALTH

* Revenue expected at Rs 1897 crore versus Rs 1285 crore

* EBITDA expected to be seen at Rs 505 crore versus Rs 159 crore

* EBITDA margin expected to be seen at 25.4% versus 12.4%

* Net profit expected to be seen at Rs 337 crore versus Rs 240 crore

SUN PHARMA

* Revenue expected at Rs 12,870 crore versus Rs 11,940 crore

* EBITDA expected to be seen at Rs 3453 crore versus Rs 3654 crore

* EBITDA margin expected to be seen at 26.8% versus 30.6%

* Net profit expected to be seen at Rs 2527 crore versus Rs 2345 crore

TATA MOTORS

* Revenue expected at Rs 109,685 crore versus Rs 102,236 crore

* EBITDA expected to be seen at Rs 14,922 crore versus Rs 13,595 crore

* EBITDA margin expected to be seen at 13.6% versus 13.2%

* Net profit expected to be seen at Rs 5343 crore versus Rs 3879 crore

ZOMATO

* Revenue expected at Rs 3943 crore versus Rs 2416 crore

* EBITDA expected to be seen at Rs 164 crore versus loss of Rs 48 crore

* EBITDA margin expected to be seen at 4.15%

* Net profit expected to be seen at Rs 223 crore versus Rs 2 crore

Q1FY25 EARNING CALENDAR 02.08.2024 

AEROFLEX, BRITANNIA, CAMS, DALMIASUG, DELHIVERY, DHAMPURSUG, DHANUKA, HINDZINC, IDFC, INFIBEAM, IONEXCHANG, KIRLOSBROS, LICHSGFIN, MEDPLUS, PAUSHAKLTD, PSPPROJECT, RANEHOLDIN, RENUKA, SAMHI, SFL, SHARDAMOTR, SMLISUZU, SUDARSCHEM, TAJGVK, TEXINFRA, TITAN, TMB, UPL, ZYDUSWELL 

BRITANNIA 

* Revenue expected at Rs 4191 crore versus Rs 4010 crore 

* EBITDA expected to be seen at Rs 777 crore versus Rs 688 crore 

* EBITDA margin expected to be seen at 18.53 % versus 17.15 % 

* Net profit expected to be seen at Rs 530 crore versus Rs 457 crore 

HINDZINC 

* Revenue expected at Rs 7915 crore versus Rs 7282 crore 

* EBITDA expected to be seen at Rs 3982 crore versus Rs 3347 crore 

* EBITDA margin expected to be seen at 50.30 % versus 45.96 % 

* Net profit expected to be seen at Rs 2273 crore versus Rs 1964 crore 

LICHSGFIN 

* NII expected at Rs 2187 crore versus Rs 2209 crore 

* EBIT expected to be seen at Rs 1915 crore versus Rs 2009 crore 

* EBIT margin expected to be seen at 86.37 % versus 89.20 % 

* Net profit expected to be seen at Rs 1230 crore versus Rs 1323 crore 

TITAN 

* Revenue expected at Rs 11,993 crore versus Rs 11,897 crore

Caixin reports that China’s manufacturing PMI has unexpectedly fallen.

The Caixin China’s General Manufacturing PMI fell to 49.8 in July 2024 from 51.8 in June, missing market expectations of 51.5. It was the first drop in industrial activity since October, as new orders fell after rising for the previous 11 months due to weak demand and client budget cuts. Furthermore, buying levels declined for the first time since October 2023, resulting in a fresh depletion of purchase stocks and an increase in finished goods.

GE T&D India: Net profit at Rs 135 cr vs Rs 28.2 cr, Revenue at Rs 958 cr vs Rs 718 cr (YoY) 

Selan Exploration: Net profit at Rs 18 Cr vs Rs 5 cr, Revenue at Rs 63 cr vs Rs 28 cr (YoY) 

Coal India: Net profit at Rs 10,959 cr vs Rs 10,528 cr, Revenue at Rs 36,465 cr vs Rs 35,983 cr (YoY) 

JK Lakshmi: Net profit at Rs 156 cr vs Rs 74.9 cr, Revenue at Rs 1440 cr vs Rs 1600 cr

PNGS Gargi: Net profit at Rs 10.4 Cr vs Rs 1.2 cr, Revenue at Rs 44 cr vs Rs 6.5 cr (YoY)

Ugro Capital: Net profit at Rs 30.36 cr vs Rs 25.20 cr, Revenue at Rs 232 cr vs Rs 161 cr (YoY) 

LG Balakrishnan: Net profit at Rs 65.2 cr vs Rs 55.4 cr, Revenue at Rs 571 cr vs Rs 538 cr (YoY)

Puravankara: Net profit at Rs 15 Cr vs loss Rs 18 cr, Revenue at Rs 658 cr vs Rs 323 cr (YoY)

Thomas Cook: Net profit at Rs 73.1 cr vs Rs 70.9 cr, Revenue at Rs 2106 cr vs Rs 1899 cr (YoY) 

Bansal Wire: Net profit at Rs 31.5 cr vs Rs 17.3 cr, Revenue at Rs 820 cr vs Rs 550 cr (YoY)

Dynamatic: Net profit at Rs 57 cr vs Rs 17 cr, Revenue at Rs 370 cr vs Rs 367 cr (YoY) 

Kirloskar group: Toyota Kirloskar Motor signs agreement with Maharashtra government to manufacture electric and hybrid cars. 

PC Jewel: Indian Overseas Bank sanctions ‘one time settlement. 

Tata Power: Step-down arm TP Parivart signs power delivery pact with Tata Steel 

Oil Upstream stocks: Windfall Tax Revision | Windfall Tax on Crude cut to ₹4,600/tonne from ₹7,000/tonne w.e.f. August 1

Bharat Forge: Company Wholly-owned arm KSSL granted defence license 

Sansera Engineering: Company signs MoU with Karnataka Udyog Mitra for acquisition of 55 acres industrial land at Harohalli, Bengaluru.

Wipro Ltd: Company Secures Contract to enhance MAHLE’s IT Infrastructure with Hybrid Cloud Solutions 

Vedanta: Company gets NSE & BSE approval for proposed demerger scheme. 

NHPC: Company to consider proposal regarding monetization of future cash flow of one or more Power Station on August 7.

Eimco Elecon: Company had received orders worth of INR 53.61 Crores from JMS Mining Private Limited 

Sansera: Company entered into a MoU with the Karnataka Udyog Mitra for the acquisition of 55 acres of

Industrial land at Harohalli. 

IDBI Bank: Fairfax, NBD Emirates, Kotak Mahindra Bank said to be in final list of bidders for Bank: NDTV. 

Timex: Net profit at Rs 2.4 cr vs Rs 4.2 cr, Revenue at Rs 108 cr vs Rs 106 cr (YoY). 

KPR Mill: Net profit at Rs 203.31 cr vs Rs 202.84 cr, Revenue at Rs 1609.6 cr vs Rs 1610.1 cr (YoY).

Tata Steel: Net profit at Rs 918.6 Cr vs poll of Rs 950 cr, Revenue at Rs 54,771.4 cr vs poll of Rs 57,103 cr

Relaxo Footwears: Net profit at Rs 44.40 Cr vs Rs 56.30 cr, Revenue at Rs 750 cr vs Rs 740 cr (YoY) 

Aegis Logistics: Net profit at Rs 131.5 cr vs Rs 116 cr, Revenue at Rs 1,601.3 cr vs Rs 2,100.5 cr (YoY) 

Prestige: Net profit at Rs 307 Cr vs Rs 318 cr, Revenue at Rs 1862 cr vs Rs 1680 cr (YoY) 

National Peroxide: Net profit at Rs 5.1 Cr vs Rs 4.5 cr, Revenue at Rs 74 cr vs Rs 79.5 cr (YoY) 

Sundaram Fasteners: Net profit at Rs 143 cr vs Rs 129 cr, Revenue at Rs 1498 cr vs Rs 1411 cr (YoY) 

Fino Payments: Net profit at Rs 24.3 cr vs Rs 19.0 cr, NII at Rs 21.4 cr vs Rs 17.5 cr (YoY)

Black Rose: Net profit at Rs 4.7 cr vs Rs 4.1 cr, Revenue at Rs 98.3 cr vs Rs 87.6 cr (YoY) 

Sasken Tech: Net profit at Rs 18.10 cr vs Rs 25.70 cr, Revenue at Rs 120 cr vs Rs 98.50 cr (YoY)

Indostar Capital: Net profit at Rs 24.90 cr vs Rs 38.90 cr, Revenue at Rs 390 cr vs Rs 299 cr (YoY) 

Sonata Software: Net profit at Rs 106 cr vs Rs 120 cr, Revenue at Rs 2527 cr vs Rs 2000 cr (YoY) 

Redington: Net profit at Rs 246 cr vs Rs 249 cr, Revenue at Rs 21280 cr vs Rs 21200 cr (YoY)

Bank of Baroda: Net profit at Rs 4458.2 cr vs Rs 4070.1 cr, NII at Rs 11,600 cr vs Rs 10,996.7 cr (YoY) 

Teamlease: Net profit at Rs 20.8 cr vs Rs 26.4 cr, Revenue at Rs 2580 cr vs Rs 2172 cr (YoY)

Asahi India: Net profit at Rs 77.9 cr vs Rs 103.8 cr, Revenue at Rs 1133 cr vs Rs 1089 cr (YoY) 

ENIL: Net profit at Rs 5.4 cr vs Rs 5.8 cr, Revenue at Rs 1094 cr vs Rs 983 cr (YoY) 

Barbeque Nation: Company buys further 4.14% stake in unit Red Apple Kitchen

Phoenix Mills: Net profit at Rs 230 cr vs Rs 240 cr, Revenue at Rs 900 cr vs Rs 800 cr, announced bonus share 1:1 (YoY) 

Sumitomo Chemicals: Company’s promotes Suresh Ramachandran to position of Deputy MD with effect from September 10

Godfrey Phillips: Company announces that it will proceed with its plan to exit the retail business under the ‘24Seven’ brand.

JK Lakshmi: Board approves composite Scheme of Amalgamation & arrangement amongst companies.

Tata Steel: Company includes Rs 17,347 crore worth impact as contingent liability.

Infosys: DGGI claims Infosys evaded GST of ₹32,403.46 crore

Nuvoco Vistas Corp: Net profit at Rs 2.8 Cr vs Rs 100.4 cr, Revenue at Rs 2637 cr vs Rs 1411 cr (QoQ) 

KRBL: Net profit at Rs 86.56 cr vs Rs 194.65 cr, Revenue at Rs 1199 cr vs Rs 1414 cr (YoY)

Rites: Net profit at Rs 90 cr vs Rs 120 cr, Revenue at Rs 486 cr vs Rs 544 cr (YoY) 

TCNS: Net loss at Rs 60 cr vs Rs 37 cr, Revenue at Rs 206 cr vs Rs 244 cr (YoY)

FOMC kept the rates on hold for the 8th consecutive meeting. FOMC while highlighting further progress on the inflation front mention it remains “somewhat elevated”. FOMC acknowledges that the job gains have moderated. The Committee is attentive to the risks to both sides of its dual mandate and needs greater confidence that inflation is moving towards 2% before cutting rates. With inflation cooling off and job growth slowing down, the Fed would begin to dial down the tightening done over the last 2 years in the September 2024 policy and assist in the soft landing of the economy.

Deepak Agrawal 

CIO Debt, Kotak Mahindra AMC

The Federal Reserve maintained the federal funds rate at a 23-year high of 5.25%-5.50% for the eighth consecutive meeting, as predicted. Nonetheless, the new statement indicated that the first cut was imminent by acknowledging the recent rise in the unemployment rate and emphasising that the central bank is now equally focused on the full-employment element of its dual mandate.

IT major Infosys said the Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of ₹32,403 crore for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice. Read more

CONS NET PROFIT DOWN 11% AT 131.07CR (YOY), UP 117% (QOQ)

REVENUE DOWN 6% AT 142.4CR (YOY) ,UP 149% (QOQ)Search and join stockaajorkal

EBITDA DOWN 41% AT 11.29CR (YOY), UP 41%(QOQ) 

MARGINS 7.93% V 12.66% (YOY), 13.99% (QOQ)

CONS NET PROFIT UP 8% AT 313.4CR (YOY), DOWN 19% (QOQ)

REVENUE UP 12% AT 904.14CR (YOY) , DOWN 31% (QOQ)

EBITDA UP 6% AT 405.5CR (YOY), DOWN 15%(QOQ) 

MARGINS 44.84% V 46.98% (YOY), 36.42% (QOQ)

CONS NET PROFIT AT 50.7CR V 24.8CR LOSS (YOY), V 43.92CR LOSS (QOQ)

REVENUE UP 19% AT 1001.8CR (YOY) ,UP 3% (QOQ)

EBITDA UP 34% AT 163.2CR (YOY), UP 2% (QOQ) 

MARGINS 16.29% V 14.49% (YOY), 16.36% (QOQ)

NET PROFIT 315M RUPEES VS 173M (YOY); 245M (QOQ) 

REVENUE 8.2B RUPEES VS 5.5B (YOY)

EBITDA 610M RUPEES VS 263M (YOY) 

EBITDA MARGIN 7.47% VS 4.80% (YOY)

NET PROFIT 652M RUPEES VS 554M (YOY); 678M (QOQ) 

REVENUE 5.7B RUPEES VS 5.39B (YOY)

EBITDA 892M RUPEES VS 876.4M (YOY) 

EBITDA MARGIN 15.61% VS 16.27% (YOY)

NET PROFIT 2B RUPEES VS 1.1B (YOY)

REVENUE 22.8B RUPEES VS 23B (YOY)

EBITDA 4.64B RUPEES VS 2.81B (YOY)

EBITDA MARGIN 20.36% VS 12.13% (YOY)

NET PROFIT UP 30 % TO 24.28 CR (YOY), DOWN 4 % (QOQ)

NII UP 24 % TO 21.64 CR (YOY),

NET PROFIT UP 86.56% AT DOWN 55 CR (YOY), DOWN 24% (QOQ)

REVENUE DOWN 15% AT 1199.2 CR (YOY) ,DOWN 9 % (QOQ)

EBITDA DOWN 53% AT 117.26CR (YOY),DOWN 34%(QOQ) 

EBITDA MARGINS 9.77% V 17.77% (YOY), 13.5% (QOQ)

NET PROFIT UP 377% AT 13.45CR (YOY), UP 104% (QOQ)

REVENUE UP 34% AT 96CR (YOY) ,UP 5% (QOQ)

EBITDA UP 463% AT 290 CR (YOY),UP 29%(QOQ) 

EBITDA MARGINS 30.3% V 7.2% (YOY), 12.13% (QOQ

NET PROFIT DOWN 4% AT 105.6CR (QOQ), DOWN 12% (YOY)

REVENUE UP 15% AT 2527.4CR (QOQ) ,UP 25% (YOY)

EBITDA UP 29% AT 142.8CR (QOQ), DOWN 3%(YOY) 

EBITDA MARGINS 5.65% V 5.04% (QOQ), 7.3% (YOY)

Q1 CONS NET PROFIT 154M RUPEES VS LOSS 172M (YOY) || Q1 REVENUE 6.6B RUPEES VS 3.23B (YOY)

Q1 EBITDA 1.3B RUPEES VS 630M (YOY) || Q1 EBITDA MARGIN 19.91% VS 19.50% (YOY)

Q1 CONS NET PROFIT 28M RUPEES VS 145M (YOY); 1B (QOQ) | Q1 REVENUE 26B RUPEES VS 28.05B (YOY)

Q1 EBITDA 3.4B RUPEES VS 3.94B (YOY) | Q1 EBITDA MARGIN 13.01% VS 14.04% (YOY)

Q1; CONS NET PROFIT DOWN 4% AT 217CR (YOY), DOWN 33% (QOQ)

REVENUE FLAT AT 21282CR (YOY) , DOWN 5% (QOQ)

EBITDA DOWN 12% AT 370.9CR (YOY), DOWN 19%(QOQ) 

MARGINS 1.74% V 1.97% (YOY), 2.04% (QOQ)

Q1 :CONS NET PROFIT UP 260% AT 0.36CR (YOY), UP 200% (QOQ)

REVENUE UP 17% AT 13.2CR (YOY) ,DOWN 17% (QOQ)

EBITDA UP 5% AT 0.85CR (YOY),UP 29%(QOQ) 

MARGINS 6.44% V 7.24% (YOY), 4.13% (QOQ)

ST NET PROFIT UP 20% AT 30.35 CR V DOWN 7% (YOY) 

NII UP 38% AT 95 CR V UP 53% (YOY)

GROSS NPA AT 2.90% V 3.09% (QOQ) 

NET NPA AT 1.59% V 1.64% (QOQ)

Q1; CONS NET LOSS AT 59.7CR V 36.9CR LOSS (YOY) , V 63.6CR LOSS (QOQ)

REVENUE DOWN 14% AT 209.75CR (YOY) , DOWN 1% (QOQ)

EBITDA LOSS AT 36.2CR V 10.29CR LOSS (YOY), 37.7CR LOSS (QOQ) 

MARGINS -17.26% V -4.21% (YOY), -17.83% (QOQ)

CONS NET LOSS AT 5.44CR V 3.22 CR LOSS (YOY), V 8.85CR PROFIT (QOQ)

REVENUE UP 9% AT 113.5CR (YOY) , DOWN 26% (QOQ)

EBITDA DOWN 29% AT 7.51CR (YOY), DOWN 73%(QOQ) 

MARGINS 6.62% V 10.12% (YOY), 18% (QOQ)

; CONS NET PROFIT UP 1% AT 182.2CR (QOQ), UP 144% (YOY)

REVENUE DOWN 7% AT 639.9CR (QOQ) ,UP 56% (YOY)

EBITDA DOWN 11% AT 299.5CR (QOQ), UP 117%(YOY)Search and join stockaajorkal

MARGINS 46.8% V 33.7% (QOQ), 49.07% (YOY)

Q1 SL NET PROFIT 1.56B RUPEES VS 749M (YOY); 1.4B (QOQ) Q1 REVENUE 14.4B RUPEES VS 16B (YOY)

Q1 EBITDA 2.5B RUPEES VS 1.8B (YOY) Q1 EBITDA MARGIN 17.37% VS 11.11% (YOY)

Q1 SL NET PROFIT 24M RUPEES VS 42M (YOY); 71M (QOQ)

Q1 REVENUE 1.08B RUPEES VS 1.06B (YOY)

Q1 EBITDA 42M RUPEES VS 73M (YOY) || Q1 EBITDA MARGIN 3.90% VS 6.89% (YOY)

Q1 Cons Net Profit 1.52b Rupees Vs 1.2b (yoy); Est 1.46b

Q1 Revenue 21.4b Rupees Vs 18.77b (yoy); Est 20.91b

Q1 Ebitda 2.32b Rupees Vs 1.85b (yoy); Est 2.24b

Q1 Ebitda Margin 10.87% Vs 9.9% (yoy); Est 10.7%

- Net Profit Down 23.5% At ₹40 Cr Vs ₹52.3 Cr (YoY)

- Revenue Down 10.7% At ₹532 Cr Vs ₹595.6 Cr (YoY)

- EBITDA Down 16% At ₹77.7 Cr Vs ₹92.7 Cr (YoY)

- Margin At 14.6% Vs 16.6% (YoY)

Q1 Cons Net Profit 2b Rupees Vs 2.03b (yoy)

Q1 Ebitda 3.14b Rupees Vs 3.32b (yoy)

Q1 Ebitda Margin 19.55% Vs 20.62% (yoy)

Q1 Revenue 15.4b Rupees Vs 15.51b (yoy)

👉Net profit at ₹118.1 cr vs loss of ₹53.4 cr (YoY)

👉Revenue up 7.4% at ₹2,130.5 cr vs ₹1,984 cr (YoY)

👉EBITDA up 75.3% at ₹271.7 cr vs ₹155 cr (YoY)

👉Margin at 12.8% vs 7.8% (YoY)

Toyota Motor Corp Ltd Ord (Pre market) (Sector- Automobile)

Shell PLC (Pre market) (Sector- Energy)

ConocoPhillips (Pre market) (Sector- Energy)

Regeneron Pharmaceuticals, Inc. (Pre market) (Sector- Healthcare)

Eaton Corporation, PLC (Pre market) (Sector- Capital Goods)

Anheuser-Busch Inbev SA (Pre market) (Sector- FMCG)

Ferrari N.V. (Pre market) (Sector- Automobile)

Southern Company (Pre market) (Sector- Power)

Intercontinental Exchange Inc. (Pre market) (Sector- Financial)

Thomson Reuters Corp (Pre market) (Sector- Financial)

Apollo Global Management, Inc. (Pre market) (Sector- Financial)

Becton, Dickinson and Company (Pre market) (Sector- Healthcare)

ING Group, N.V. (Pre market) (Sector- Financial)

Air Products and Chemicals, Inc. (Pre market) (Sector- Chemical)

Moderna, Inc. (Pre market) (Sector- Healthcare)

Dominion Energy, Inc. (Pre market) (Sector- Power)

Barclays PLC (Pre market) (Sector- Financial)

TC Energy Corporation (Pre market) (Sector- Energy)

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

Xcel Energy Inc. (Pre market) (Sector- Power)

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

BCE, Inc. (Pre market) (Sector- Telecom)

Alnylam Pharmaceuticals, Inc. (Pre market) (Sector- Healthcare)

Targa Resources, Inc. (Pre market) (Sector- Energy)

Blue Owl Capital Inc. (Pre market) (Sector- Financial)

Roblox Corporation (Pre market) (Sector- Technology)

Ball Corporation (Pre market) (Sector- FMCG)

ArcelorMittal (Pre market) (Sector- Metal)

Brookfield Infrastructure Partners LP (Pre market) (Sector- Capital Goods)

Apple Inc. (Post market) (Sector- Technology) 

Amazon. com, Inc. (Post market) (Sector- Technology) 

Intel Corporation (Post market) (Sector- Technology) 

Vertex Pharmaceuticals Incorporated (Post market) (Sector- Healthcare) 

Booking Holdings Inc. (Post market) (Sector- Hotels) 

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

EOG Resources, Inc. (Post market) (Sector- Energy) 

Motorola Solutions, Inc. (Post market) (Sector- Technology) 

Coinbase Global, Inc. (Post market) (Sector- Technology) 

Microchip Technology Incorporated (Post market) (Sector- Technology) 

Atlassian Corporation (Post market) (Sector- Technology) 

Prudential Financial, Inc. (Post market) (Sector- Financial) 

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

Monolithic Power Systems, Inc. (Post market) (Sector- Technology) 

Consolidated Edison Inc (Post market) (Sector- Power) 

Rocket Companies, Inc. (Post market) (Sector- Technology) 

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

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

Ventas, Inc. (Post market) (Sector- Realty) 

Snap Inc. (Post market) (Sector- Technology) 

GoDaddy Inc. (Post market) (Sector- Technology) 

DraftKings Inc. (Post market) (Sector- Hotels)

TENT INDIA July Month Auto Sales

07:15 CHINA Manufacturing PMI (Expected: 51.4 versus Previous: 51.8)

10:30 INDIA Manufacturing PMI (Expected: 58.5 versus Previous: 58.3)

13:30 EURO Final Manufacturing (Expected: 45.6 versus Previous: 45.6)

14:00 U.K. Final Manufacturing (Expected: 51.8 versus Previous: 51.8)

16:30 U.K. BOE Monetary Policy Report (Expected: 5.00% versus Previous: 5.25%)

18:00 U.S. Unemployment Claims (Expected: 236k versus Previous: 235K)

19:30 U.S. ISM Manufacturing PMI (Expected: 48.8 versus Previous: 48.5)

The short-term outlook is bullish for Swan Energy. The stock surged 4.9 per cent on Wednesday has closed on a strong note, indicating that the upmove could be gaining momentum. Also, this rise has happened from just above the 8-day moving average support, which is currently at ₹717. Read more

Pulled down by a high base effect despite a strong show from coal and electricity sectors, the country’s eight core industries output growth slid to a 20-month low at 4 per cent in June. Read more

Adani Power reported a 36 per cent rise in revenue to ₹14,955.6 crore in the June quarter on higher power sales volumes, but net profit more than halved to ₹3,913 crore on higher expenses and tax outgo. Read more

Leading auto parts and engineering company Sundram Fasteners Ltd has reported a 17 per cent increase in its standalone profit after tax (PAT) of ₹132 crore for the quarter ended June 30, 2024, compared with a PAT of ₹113 crore in the year-ago quarter. This increase was aided by improved operating performance on the back of strong growth in export revenue. Read more

IT major Infosys admitted late Wednesday evening that it has received pre-show cause notices for GST dues of over ₹32,000 crore. The first notice was issued by the Karnataka state GST department, while the second was issued by the Director General of GST Intelligence (DGGI). Read more

SEBI’s new proposals to rein in the frenzy in equity derivatives could reduce volumes by 30-40 per cent, impacting exchanges and retail-focused brokers the most. Read more

Tata Steel has reported that its net profit in the June quarter was up 75 per cent at ₹919 crore, against ₹525 crore logged in the same period last year, due to lower costs despite a fall in realisation. Read more

After implementing optimisation measures to improve its cash flow, Zee MD and CEO Punit Goenka noted that Zee is starting to see a turnaround in profits. Read more

State-run coal miner Coal India on Wednesday reported a 4.24 per cent year-on-year increase in consolidated net profit to ₹10,943.55 crore for the first quarter of the current fiscal from ₹10,498.39 crore for the same period last fiscal. Read more

Sansera Engineering Ltd signed a Memorandum of Understanding (MoU) with the Government of Karnataka worth ₹2,100 crore aiming to expand Sansera’s manufacturing capacity in Harohalli, Ramanagara, driving growth in both the automotive and non-automotive sectors. Read more

Shares of Ashok Leyland have been on the fast lane of late. As analysts remained bullish on the company, post its Q1 financial performance, the stock hit an all-time high of ₹258.95. Read more

Leading automotive and electric vehicle company, JBM Auto Ltd (JBM) on Wednesday reported a consolidated net profit of ₹33.54 crore for the first quarter ended June 30, up 11 per cent year-on-year (y-o-y) as compared with ₹30.28 crore in the corresponding period last year. Read more

India has to be ambitious and look to achieve 8-10 percent GDP growth on sustained basis, Sanjay Nayar, President, Assocham, said on Wednesday. Read more

Bank of Baroda (BoB) reported a 10 per cent year-on-year (yoy) increase in standalone net profit at ₹4,458 crore in the first quarter (Q1FY25) despite a 25 per cent decline in non-interest income as the bottomline was supported by moderate rise in net interest income and decline in non-tax provisions. Read more

The Federal Reserve held interest rates steady on Wednesday but opened the door to reducing borrowing costs as soon as its next meeting in September as inflation continues coming into line with the U.S. central bank’s 2% target. Read more