Stock Market Live Updates August 2, 2024: Sensex, Nifty extend losses in morning session; Sensex tanks 700 points at 81,155

Prestige Estate (-4.28%)

Sobha (-3.81%)

Brigade (-3.35%)

Phoenix Mills (-3.17%)

Godrej Properties (-3.02%)

TCS: down by 2.11 p.c., trading at Rs 4,302.95

Infosys: down by 1.12 p.c., Rs 1,831.55

Wipro: down by 2.10 p.c., trading at Rs 510.60

Tech Mahindra: down by 1.76 p.c., trading at Rs 1,516.00

HCL Tech: down by 1.20 p.c., trading at Rs 1,620.45

Saregama India recorded a consolidated net profit of ₹37.09 crore for the quarter ended June 2024, as against ₹43.32 crore in the corresponding quarter last year.

Stock declined 1.47% to trade at ₹529 on the NSE.

The Indian benchmark indices opened significantly lower today, driven by weak global sentiments. Both the Nifty50 and Sensex declined by nearly 1.40% from their all-time highs, trading at 24,800 and 81,220, respectively. This downturn follows substantial losses in major U.S. and Asian equities during yesterday’s trading session, spurred by disappointing U.S. economic data that heightened concerns about an economic slowdown in the world’s largest economy. Additionally, domestic equities have been on an extended upward trajectory, which has pushed stocks into overvalued territory, leading to a sharp correction in prices. However, we do not anticipate a further acceleration in this decline. The major domestic indices remain well above their key moving averages, maintaining a bullish bias for the short to medium-term. We believe as long as the market is trading above the 21-day EMA, every decline will present investors with an opportunity to accumulate shares at lower levels.

Top gainers: HDFC Bank (1.72%), Divi’s Lab (1.06%), Kotak Mahindra (0.83%), Nestle India (0.48%), Apollo Hospitals (0.47%)

Top losers: Eicher Motors(-4.13%), Maruti (-3.63%), Tata Motors (-3.53%), JSW Steel (-3.17%), Tata Steel (-2.92%)

Of 3,879 stocks traded on the BSE at 12 noon on August 02, 2024, 1,625 advanced, against 2,118 stocks that declined; 136 stocks remained unchanged. While 217 stocks recorded a 52-week high, 26 hit a 52-week low. In addition, 264 stocks traded in the upper circuit and 203 stocks hit the lower circuit.

Club Mahindra, the flagship brand of Mahindra Holidays & Resorts India Ltd (MHRIL), has strengthened its presence in North Goa through a partnership with Lohono Stays- a pre-eminent brand in serviced luxury villas. 

Mahindra Holidays & Resorts India stock trades flat ₹451.85 on the NSE

Marksans Pharma’s wholly-owned subsidiary Relonchem Ltd has received marketing authorisation for the product Levonorgestrel 1.5 mg tablets from UK MHRA.

Marksans Pharma stock trades at ₹208.01 on the NSE, up 1.16%.

Shakti Pumps (India) Ltd has received a Letter of Intent from the Department of Agriculture, Uttar Pradesh, for 12,537 pumps for Uttar Pradesh under Component-B of PM-KUSUM scheme (Phase-III). The total value of the work order is approximately ₹558.16 crore (inclusive of GST) which is to be executed within March 31, 2025.

Stock trades at ₹4,686.75 on the NSE, higher by 5%, also its upper circuit.

Domestic passenger vehicle industry volumes are expected to have declined yoy due to inventory correction amid weak demand trends. The domestic two-wheeler wholesale segment volumes is expected to have grown in high single digit yoy. However, the performance was mixed with few players reporting volume decline yoy. Two-wheeler EV retail sales grew strongly in July 2024. Commercial vehicle segment volume performance in July 2024 was weak and was below our expectation. Domestic tractor industry volumes is estimated to have grown by mid-single digit yoy, partly supported by normal monsoon. Overall, the wholesale volume performance was subdued in July 2024 with some segments like passenger vehicle, commercial vehicle and select two-wheeler players volume reporting weak sales volume.

The National Stock Exchange of India Ltd (“NSE”) issues a warning to investors regarding fraudulent activities perpetrated by an individual person named “Manish Bhardwaj” associated with entities named “Mcx live research” and “DWG ALGO” operating through mobile number “9810962555”, Instagram channel “mcxliveresearch7380”, telegram channel “Mcx live research official” and website named www.mcxliveresearch.in is providing securities market tips and assured/guaranteed returns on investment in the stock market.

The Indian stock market experienced a significant decline today, with the Sensex falling over 800 points and the Nifty dropping 255 points. Several factors contributed to this downturn:

Negative global sentiment played a crucial role. A sell-off on Wall Street, coupled with concerns over a potential US recession and weak commentary from the top IT companies in the US, led to a cautious approach among investors. Negative economic data from major economies like the US and China also impacted investor sentiment.

Central bank actions also played a pivotal role. The central bank of Japan raising interest rates to combat inflation contributed to market volatility. Such moves can lead to shifts in global capital flows and increased nervousness among investors.

On the domestic front, the India VIX, often referred to as the fear index, rose, indicating higher market volatility. This spike in the fear index reflects increased nervousness and uncertainty among investors.

Technically, Nifty has shown some bounce back from the important level of 24750. Now 20-DMA of 24600 will be the key support level. 25000 will act as a key barrier after a gap-down opening. 

Banknifty is underperforming and trading below the 20-DMA of 52000. 51000 and 50450 will be immediate support levels. 49500 will be the next key support level.

​Avenue Supermarts ​has received two orders imposing penalty of ₹10,000 each from District Consumer Disputes Redressal Commission at Raipur.

Dmart stock trades at ₹4,976.15 on the NSE, down by 0.35%.

Alembic Pharmaceuticals has received USFDA final approval for Nelarabine Injection, 250 mg/50 mL (5 mg/mL) (Single-Dose Vial).

Stock rises 1.20% on the NSE, trading at ₹1,227.05.

Black Box has secured ₹410 crore via preferential issue. Stock surges 4.26% on the NSE, trading at ₹555.

Nestle India Ltd. invested ₹705.5 crore in a joint venture with Dr Reddy’s Laboratories Ltd that caters to nutritional health solutions. 

Nestle India stock traded at ₹2,472.95 on the NSE, down by 0.44%. Dr Reddy’s stock inched up 0.32% on the NSE, trading at ₹6,910.

ITC shares decline 1.07% on the NSE, trading at ₹488.40. The company missed street estimates and reported a standalone net profit of ₹4,917.45 crore for the first quarter this fiscal, marginally higher compared to ₹4,902.74 crore for the same period last fiscal.

Bank Nifty opened today’s session with a gap-down at 51,172 against yesterday’s close of 51,564. It is now hovering around 51,250, down 0.6 per cent after the first hour of trade. Read more

Equinox India Developments board has approved raising of funds through the issuance of up to 1200 NCDs aggregating up to ₹120 crore, in one or more tranches, on a private placement basis.

Stock declines 1.78% on the NSE, trading at ₹131.65.

Top gainers: Zomato (14.29%), GHCL (6.65%), Neuland Laboratories (5.63%), TTML (5.39%), DCAL (4.99%)

Top losers: Cummins India (-7.77%), GR Infraprojects (-5.53%), Repco Home (-4.82%), Tata Motors DVR (-3.88%), Eicher Motor (-3.81%)

BSE Sensex plunged by 805.35 points or 0.98 % to trade at 81,062.20 as at 10.30 am, while Nifty declined by 252.45 points or 1.01% to trade at 24,758.45.

Sterling Holiday Resorts Ltd, wholly-owned subsidiary of Thomas Cook (India,) recorded its highest-ever Q1 revenue of ₹126 crore. 

Thomas Cook stock trades at ₹235.30 on the NSE, up 0.28%.

Nifty 50 is down sharply by over a per cent today. The strong sell-off in the global equity markets is weighing on the Nifty. The index is currently trading at 24,740, down 1.08 per cent. The advances/declines ratio is at 4:46. This is negative and indicates that more fall could be on the cards during the day. Read more

Crude oil futures traded higher on Friday morning as the market feared an all-out war in West Asia following the recent developments in the region. 

At 9.54 am on Friday, October Brent oil futures were at $80.11, up by 0.74 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $76.91, up by 0.79 per cent. Read more

Follow live updates on the Zomato share price movement here

Shareholders of Mahindra & Mahindra Ltd (M&M) have approved the re-appointment of Anish Shah as “Managing Director and Chief Executive Officer” of the Company designated as “Group CEO and Managing Director” with effect from 1st April, 2025 to 31st March, 2030. 

At the AGM held on July 31st, shareholders also approved the re-appointment of Rajesh Jejurikar as Whole-time Director designated as “Executive Director and CEO (Auto and Farm Sector)” with effect from 1st April, 2025 to 24th June, 2029.

Ola Electric Mobility, the first pure EV company, is set to launch its public issue today in a price band of ₹72-76 a share. The issue size of ₹6,145.6 crore is at the upper price band. The IPO consists of a fresh issue of shares worth ₹5,500 crore and an offer-for-sale (OFS) of up to 8.49 crore shares worth ₹645.6 crore. Ola co-founder Bhavish Aggarwal will sell 3.79 crore shares, and promoter group Indus Trust 41.79 lakh shares in the OFS. The IPO will close on August 6. Read more

Suryoday SFB: Net profit up 47.3% at ₹70.1 cr vs ₹48 cr, NII up 39.9% at ₹293.2 cr vs ₹224.7 cr (YoY) 

GHCL Textiles: Net profit at Rs 11.80 cr vs Rs 4.16 cr, Revenue at Rs 288.78 cr vs Rs 264.75 cr (YoY)

Tata Motors: Net profit at Rs 5566 cr vs Rs 3203 cr, Revenue at Rs 1.08 lakh cr vs Rs 1.02 lakh cr (YoY) 

Kalyan Jewellers: Net profit at Rs 177.8 cr vs Rs 144 cr, Revenue at Rs 5535.5 cr vs Rs 4375.7 cr (YoY) 

Thermax: Net profit at Rs 109.42 cr vs Rs 59.95 cr, Revenue at Rs 2184 cr vs Rs 1933 cr (YoY) 

RattanIndia Power: Net profit at Rs 93 cr vs loss of Rs 549.4 cr, Revenue at Rs 931.8 cr vs Rs 847.3 cr (YoY) 

HPL Electric: Net profit at Rs 17.00 cr vs Rs 6.90 cr, Revenue at Rs 390 cr vs Rs 320 cr (YoY) 

SJS Enterprises: Net profit at Rs 28.2 cr vs Rs 18 cr, Revenue at Rs 189 cr vs Rs 117 cr (YoY)

Bajaj Steel: Net profit at Rs 35 cr vs Rs 9.6 cr, Revenue at Rs 142 cr vs Rs 98 cr (YoY)

Pudumjee Paper: Net profit at Rs 27.5 cr vs Rs 11 cr, Revenue at Rs 203 cr vs Rs 181 cr (YoY) 

Ixigo: Net profit at Rs 14.8 cr vs Rs 8.0 cr, Revenue at Rs 182 cr vs Rs 156 cr (YoY)

Music broadcast: Net profit at Rs 2.5 cr vs Rs 0.93 cr, Revenue at Rs 60 cr vs Rs 53 cr (YoY) 

MOIL: Company achieves record turnover & sales in Q1. 

Symphony: Board meeting on 06th August to consider Buyback.

TTK Prestige: Board meeting today to consider Buyback.

Chaman Lal Setia: Board Meeting to be held on 06th August to consider Buyback

Mayur Uniquoters: Board Meeting to be held on 08th August to consider Buyback

Godrej Agrovet: Company signs agreement to acquire Tyson’s 49% stake in Godrej Tyson Foods

KP Green Engineering: Company gets orders of Rs 532.3 Million 

Max Healthcare: Company approves setting up over 250-bedded hospital in Zirakpur, Punjab, at an investment of Rs 230 crore

Torrent Power: Company signed SSSA for supply of power from renewable energy sources by development and setting up up to 33 mw hybrid projects in Gujarat 

Coal India: India’s coal output rises by 6.69% to 74.07 MT in July. 

Aarti Drugs: USFDA gets EIR for Baddi unit concluding the inspection as Closed.

IRCON: Matter of dispute between company and ARSS Infrastructure Projects Limited has been closed in the Arbitration

Swan Energy: Company has pre-paid loan of Rs 825cr to lenders of FSRU projects.

Prataap Snacks: Net profit down 29.9% at ₹9.4 cr vs ₹13 cr, Revenue up 8.7% at ₹421.4 cr vs ₹387.8 cr (YoY)

Godrej Agrovet: Net profit at Rs 135 cr vs Rs 105 cr, Revenue at Rs 2351 cr vs Rs 2510 cr (YoY) 

Raitel: Net profit up 25.2% at ₹48.7 cr vs ₹38.9 cr, Revenue up 19.4% at ₹558.1 cr vs ₹467.6 cr (YoY)

ITC: Net profit at Rs 4917 cr vs Rs 4903 cr, Revenue at Rs 17,000 cr vs Rs 16,995 cr (YoY) 

Somany Ceramics: Net profit at Rs 12.28 cr vs Rs 14.60 cr, Revenue at Rs 580 cr vs Rs 584 cr (YoY) 

Punjab Chemicals: Net profit at Rs 13.40 cr vs Rs 21.90 cr, Revenue at Rs 240 cr vs Rs 280 cr (YoY)

Le Travenues Tech: Net profit at Rs 14.86 cr vs Rs 8.75 cr, Revenue at Rs 182 cr vs Rs 187 cr (YoY) 

Coromandel: Received order of Rs 589 Cr (including interest) from GST department 

RCF: Board Meeting to be held on 07-Aug-2024 to consider Fund raising. 

Saurashtra Cement: Unit situated at the Ranavav Plant, Gujarat is under shut down for the annual maintenance from 2” August, 2024 for about 25 days. 

HDFC Life: IRDAI levies penalty of Rs 2 crore for violation of provisions on HDFC Life 

Creditacces Grameen: S Balakrishna Kamath resigns as CFO of Company, effective January 2, 2025 

Netweb: Sanjay Lodha, Navin Lodha, Vivek Lodha & Niraj Lodha are likely to sell 20.54 lakh shares of Netweb Technologies via block deals 

Nestle India: Company invests ₹706 cr in JV with Dr Reddy’s Lab

Samvardhan: Board meeting today to consider Fund raising. 

SIS: Board meeting today to consider Fund raising. 

Spandana: Board meeting today to consider Fund raising.

Mahindra & Mahindra: Company’s shareholders approve re-appointment of Anish Shah as MD & CEO 

Infosys: Karnataka GST Dept withdraws pre-show cause notice 

SpiceJet: Flights from Dubai to India cancelled on July 31 over ‘unpaid dues’. 

Morepan: QIP launched with issue size is up to ₹200 crore. Indicative price at ₹54.37/sh, at a discount of 9.2% to CMP

Eicher Motors: Royal Enfield sales at 67,265 units vs Noumra estimate of 71,500 units 

Hero Moto Corp: Total sales down 5.4% at 3.70 lk units vs 3.91 lk units (YoY) 

Repco Home: Net profit up 17.9% at ₹112.5 cr vs ₹95 cr, NII down 24.5% at ₹174.8 cr vs ₹231.4 cr (YoY)

Bharat Wire: Net profit at Rs 18.05 cr vs Rs 23.70 cr, Revenue at Rs 133 cr vs Rs 160 cr (YoY)

Triveni Engineering: Net profit at Rs 31.30 cr vs Rs 67.60 cr, Revenue at Rs 1530 cr vs Rs 1430 cr (YoY)

Top gainers: Hindustan Unilever (1.08%), HDFC Bank (1.05%), Dr Reddy’s Laboratories (0.64%), Apollo Hospitals (0.56%), Tata Consumer Products (0.51%)

Top losers: Tata Motors (-3.01%), Tata Steel (-2.86%), Eicher Motors (-2.43%), ONGC (-2.37%), L&T (-2.10%)

INDIAN EMBASSY & GOVERNMENT SAID ALL INDIANS IN LEBANON, TO LEAVE LEBANON IMMEDIATELY

U.S. & EUROPE MARKET FALLS DRASTICALLY

Dow: -500

Nasdaq: -263

Route – Tender 

Buyback Price: 200/-\u0009\u0009

Current Market Price: 163.90/-

Market Cap: Rs 3,708 Crores\u0009\u0009\u0009

Buyback Size: Rs 100 Crores (Representing 7.82% and 7.68% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 50,00,000 shares (Representing 2.21% of O/s. shares)\u0009

Retail Quota: 7,50,000 Shares

Last Cum Trading Date: 12 Aug 2024

Ex-Date: 13 Aug 2024

Buyback Record Date: 13 Aug 2024

Buyback Schedule: Not Yet Announced

Route – Tender 

Buyback Price: 1,460/-\u0009\u0009

Current Market Price: 1432/-

Market Cap: Rs 83,921 Crores\u0009\u0009\u0009

Buyback Size: Rs 750 Crores (Representing 3.84% and 2.67% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 51,36,986 shares (Representing 0.88% of O/s. shares)\u0009

Retail Quota: 7,70,548 Shares

Entitlement:

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

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

Buyback Record Date: 30 July 2024

Tender Period:

Start Date - 05 Aug 2024

Close Date - 09 Aug 2024

Obligation Date - 18 Aug 2024 

Settlement Date - 19 Aug 2024

Route – Tender\ 

Buyback Price: 220/-\u0009\u0009

Current Market Price: 186.95/-

Market Cap: Rs 18,168 Crores\u0009\u0009\u0009

Buyback Size: Rs 278.44 Crores (Representing 7.87% and 6.67% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 1,26,55,970 shares (Representing 1.30% of O/s. shares)\u0009

Retail Quota: 18,98,396 Shares

Last Cum Trading Date: 02 Aug 2024 (Today)

Ex-Date: 05 Aug 2024

Buyback Record Date: 05 Aug2024

Buyback Schedule: Not Yet Announced

Type of Offer: Acquisition

Acquirer: Triveni Engineering and Industries Limited

Issue of Public Announcement: 30-Jan-24

Offer price Rs: 262.15

CMP: Rs 332.70

(%Prem.)/Disc.: -26.91%

Offer Size : Rs 35.78 Cr

Proposed Acq. No. of shares: 0.14 cr

Proposed Acq. : 26%

Schedule of Activity

Start Date: 02 Aug 2024 (Today)

End Date: 16 Aug 2024

Obligation Date: 29 Aug 2024

Settlement Date: 30 Aug 2024

Tata Motors Limited (Demerged Company)

TML Commercial Vehicles Limited (Resulting Company)

Symbol: TATAMOTORS 

Stock Price: 1144.60 /-

Ratio : 1:1 (for every 1 share held in TATA Motors, the shareholders will receive 1 share in TML Commercial Vehicles)

JK Lakshmi Cement Ltd (Transferee Company)

Symbol : JKLAKSHMI

Stock Price : 861.85 

Udaipur Cement Works Ltd (Transferor Company)

Symbol : UDAICEMENT 

Stock Price : 37.70 

Ratio : 4:100 (For every 100 shares held in Udaipur Cement Works, 4 shares of JK Lakshmi Cement will be given).

Crude oil futures traded higher on Friday morning as the market feared an all-out war in West Asia following the recent developments in the region. At 9.18 am on Friday, October Brent oil futures were at $80.13, up by 0.77 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $76.94, up by 0.83 per cent. August crude oil futures were trading at ₹6454 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹6436, up by 0.28 per cent, and September futures were trading at ₹6390 against the previous close of ₹6371, up by 0.30 per cent.

The IPO of Ceigall India, an infrastructure construction company, was subscribed 0.61 times or 61 per cent at the end of Day 1 of issue opening on Thursday. Read more

Company Name: OLA ELECTRIC MOBILITY LIMITED

Issue Dates: 02.08.2024 – 06.08.2024

Issue Price: *₹72 - ₹76 Per Share

Lot Size: 195 Shares

Face Value: ₹10 Per Share

Jefferies on Sun Pharma: Maintain Buy on Company, raise target price at Rs 2000/Sh (Positive) 

CLSA on Zomato: Maintain Buy on Company, raise target price at Rs 350/Sh (Positive) 

UBS on Zomato: Maintain Buy on Company, raise target price at Rs 260/Sh (Positive) 

Citi on Zomato: Maintain Buy on Company, raise target price at Rs 280/Sh (Positive) 

GS on Zomato: Maintain Buy on Company, raise target price at Rs 280/Sh (Positive) 

Axis on Zomato: Maintain Buy on Company, raise target price at Rs 287/Sh (Positive) 

Bernstein on Zomato: Maintain Outperform on Company, raise target price at Rs 275/Sh (Positive) 

MS on Zomato: Maintain Overweight on Company, raise target price at Rs 278/Sh (Positive) 

Macquarie on A…

[9:19 am, 2/8/2024] KS BadriNarayanan: ITC Review

CLSA

O-p, TP raised to Rs 524

Sales 3% ahead of est.

Ebitda also slightly ahead 

Cig net segment rev up 7% YoY with a slight dip in margin due to higher leaf tobacco costs

FMCG-others saw 10.4% PBIT growth with 6.3% segment rev growth YoY

MS

OW, TP Raised to Rs 546

Revenue & margins ahead of est.

Hotels & agri saw revenue beats while cig & FMCG were in line

Margin beat was led by cig & FMCG

UBS

Neutral, TP Rs 470

In line cig vol; FMCG rev better than est. 

Adani Ports Review

CITI

Buy, TP Rs 1782

Strong 1Q despite loss of vol & biz at Gangavaram Port which now has been restored

1Q port vol/revenue /EBITDA at 109mnt/Rs55.4bn/ Rs40bn grew 7% YoY/13% YoY/ 13% YoY, respectively

Port EBITDA 6% ahead of est.

Jefferies

Buy, TP raised to Rs 1910

1Q EBITDA in line as margin expansion offset lower realisations

Management commentary was confident on double-digit growth & retained its FY25E vol guidance of 460-480 MMT (10-14% rise YoY) 

HSBC

Buy, TP Rs 1800

1Q throughput up 8% helped by robust container & liquid cargoes; yields up 4% and port EBITDA margin at record 72%

Expansion in domestic ports & commencement of Vizhinjam, Tanzania, & Colombo projects should drive long-term growth

CLSA

O-P, TP Raised to Rs 1764

Mundra traffic +23% vs consol. +8% YoY

1QFY25: diversified mix helps; resurgence of Mundra, rec PAT +23% YoY

Many strategic moves; delivered on deleveraging

Improving governance; likely to beat FY25 guidance

Tata Motors Review

JPM

OW, TP raised to Rs 1250

1Q consol EBIT in line with JLR surprising expectations & India PV disappointing

Consol FCF at Rs 12bn , but net debt increased QoQ to Rs 186bn due to dividend payments.

Management maintained JLR’s FY25 EBIT margin guidance

UBS

Sell, TP Rs 825

CV strong; PV weak; JLR mixed

Maintain sell as

1)Continue to see downside risk to India PV/EV,

2) risks of earnings cuts in JLR as orderbook falls sharply amidst rising VME due to weak market demand

CLSA

O-P, TP Rs 1181

Strong qtr

Net debt levels in JLR increased by £269m

However, co confident to turn net cash by end of FY25

Co highlighted that demerger of Tata Motors into 2 separate listed cos expected in next 12-15 mths 

Jefferies

Buy, TP Raised to Rs 1330

1Q EBITDA grew 14% YoY & 5% above JEFe.

India CV EBITDA better & JLR inline, but India PV was lower.

JLR expects 2Q-3Q to be impacted by aluminum supply issues, but retained its FY25 guidance.

Nomura

Buy, TP Rs 1303

Luxury ride for JLR continues

1Q margins in line; JLR performing well in tough market conditions

MHCVs may pick up with infra spend

1Q: JLR EBIT margin ahead at 8.9% (est 8.4%)

Nomura on Uno Minda

Buy, TP Rs 1063

Enters into TLA with Aisin, Japan, for making sunroofs in India

Believe penetration of sunroofs can touch 50- 55% by FY27/28F

Analysis suggests 

Industry revenue opportunity could touch Rs 68bn by FY28F, implying an 22% CAGR

JPM on Escorts

UW, TP Rs 2390

Demand improving, margin momentum to continue

Management maintained guidance of mid-single digit industry growth (5-6%) in FY25 aided by increased monsoon coverage, expanded credit access, government assistance, improved pricing & enhanced liquidity

CITI

Buy, TP Rs 1782

Strong 1Q despite loss of vol & biz at Gangavaram Port which now has been restored

1Q port vol/revenue /EBITDA at 109mnt/Rs55.4bn/ Rs40bn grew 7% YoY/13% YoY/ 13% YoY, respectively

Port EBITDA 6% ahead of est.

After scaling historic highs on Thursday, it appears domestic benchmarks are heading for a sharp fall on Friday, amid a global rout.

Asian stock markets crashed across the board on Friday, amid escalating tension between Israel and Iran and a weak set of economic data in the US. Read more

Infosys announced on Thursday that Karnataka’s Goods and Services Tax Department has withdrawn the pre-show cause notice issued to it. The company was asked to provide additional responses to the Directorate General of GST Intelligence’s central authority regarding the matter, though no further details were provided in its statement to the exchanges. ​Read more​

* RBLBANK

* INDIAMART

* INDIACEM

* GRANULES

* GNFC

* BSOFT

SURYODAY SMALL FINANCE BANK: 

Q1 SL NET PROFIT 701M RUPEES VS 476M (YOY); 608M (QOQ) || Q1 INTEREST EARNED 4.9B RUPEES VS 3.58B (YOY)

Q1 GNPA 2.84% VS 2.94% (QOQ) || Q1 NNPA 0.47% VS 0.86% (QOQ)

Q1 PROVISION & CONTINGENCIES SEEN AT 516M VS 482M (QOQ)

NAZARA TECH: CO HAS INCORPORATED A WHOLLY OWNED SUBSIDIARY COMPANY NAMED “NAZARA TECHNOLOGIES UK LIMITED” IN UNITED KINGDOM

TVS SUPPLY CHAIN SOLUTIONS: CO SAYS INDIAN COU REVISES TAX ORDER OF 556.9M RUPEES ON CO’S UNIT TO NIL

TORRENT POWER: CO SAYS SHARE SUBSCRIPTION AND SHAREHOLDERS’ AGREEMENT (SSSA) HAS BEEN SIGNED AMONGST CO, AIA ENGINEERING AND TORRENT URJA 16

MAHINDRA LIFESPACE: CO INVESTED 403.1M RUPEES TO BUY CONVEIBLE DEBENTURES OF AMPLE PARKS PROJECT1 || CO INVESTED 80M RUPEES TO ACQUIRE 7999200 SHARES OF AMPLE PARKS PROJECT 1

MOREPEN LABORATORIES: CO SAYS AUTHORISED THE OPENING OF QIP ISSUE ON AUG 1 || CO APPROVED FLOOR PRICE FOR QIP AT 57.23 RUPEES PER SHR

HERO MOTOCORP: JULY TOTAL SALES 370,274 UNITS VS 391,310 UNITS (YOY); EST 400,400

Strong YoY growth

CMP: INR 593; Mkt cap: INR 142bn; TP: INR 660; Rating: Buy

Q1’FY25 Updates:

- Revenue stood at INR 6,765mn, up 11.4% YoY and up 0.5% QoQ driven by significant traction in Enterprise Medical Solutions segment

- EBITDA stood at INR 1,328mn, up 14.5% YoY and down 9.9% QoQ. EBITDA margin stood at 19.6% vs. 19.1% last year and 21.9% last quarter

- Net profit stood at INR 877mn, up 28.2% YoY and down 7.5% QoQ. Net profit margin stood at 13% vs. 11.3% last year and 14.1% last quarter

Our views: Indegene continued its earlier momentum and posted strong YoY growth in Q1’FY25, driven by increased client penetration. The company derives 68% of its revenue from the Top 20 global biopharma companies. Additionally, Indegene has expanded its active client base to 65, up from 63 in FY24. With the repayment of its loans, Indegene is now a zero-debt company. We believe the company will sustain its margins and follow a similar trajectory as FY24, with a stronger performance in the second half of the fiscal year compared to the first. We will revisit our estimates following the earnings call scheduled for tomorrow at 9 AM.

Shareholders of Udaipur Cement works will get four shares of JK Lakshmi for every 100 shares held

Company has said Mayur Jitendra Thakar has tendered his resignation from the post of Chief Financial Officer (CFO) due to other work commitments with effect from the close of business hours of 1st August, 2024

Q1 Sl Net Profit 690m Rupees Vs 637m (yoy)

Q1 Revenue 6.46b Rupees Vs 5.9b (yoy)

Q1 Ebitda 906m Rupees Vs 852m (yoy) || Q1 Ebitda Margin 14.02% Vs 14.41% (yoy)

👉Net profit up 25.5% at ₹24.6 cr vs ₹20 cr (YoY)

👉Revenue up 9.2% at ₹604.4 cr vs ₹553.5 cr (YoY)

👉EBITDA up 29% at :: ₹58.3 cr ₹45.3 cr (YoY)

👉Margin at 9.6% vs 8.2% (YoY)

NET PROFIT AT 5.1 CR V 6.9 CR (YOY)

REVENUE AT 406 CR V 388 CR

EBITDA AT 55.4 CR V 48.4 CR (YOY)

MARGINS AT 13.7 % V 12.5 %

NET PROFIT AT 15.4 CR V 119 CR LOSS (YOY[

REVENUE AT 450 CR V 498 CR

EBITDA AT 12 CR V 3.5 CR (YOY[

MARGINS AT 2.65 % V 0.7 %

Aayush Wellness Ltd.

Stock Split From Rs.10/- to Rs.1/-

Previous day Closing Price – Rs. 291.85

Ex - Stock Split 05 Aug 2024 (Monday)

Last day trade for before split Today

Ex-Dividend 05 Aug 2024 (Monday)\u0009\u0009

Last date for Cum-Dividend Today\u0009\u0009

\u0009\u0009

Alembic Ltd.\u0009\u0009

Dividend Per Share Rs.2.4\u0009\u0009

Previous day Closing Price – Rs. 140.1\u0009\u0009

\u0009\u0009

Andhra Paper Ltd\u0009\u0009

Dividend Per Share Rs.10\u0009\u0009

Previous day Closing Price – Rs. 575.25\u0009\u0009

\u0009\u0009

Berger Paints India Ltd.\u0009\u0009

Dividend Per Share Rs.3.5\u0009\u0009

Previous day Closing Price – Rs. 552.6\u0009\u0009

\u0009\u0009

Britannia Industries Ltd.\u0009\u0009

Dividend Per Share Rs.73.5\u0009\u0009

Previous day Closing Price – Rs. 5728.65\u0009\u0009

\u0009\u0009

Chambal Fertilisers & Chemicals Ltd.\u0009\u0009

Dividend Per Share Rs.3\u0009\u0009

Previous day Closing Price – Rs. 521.75\u0009\u0009

\u0009\u0009

Gandhi Special Tubes Ltd.\u0009\u0009

Dividend Per Share Rs.13\u0009\u0009

Previous day Closing Price – Rs. 828.65\u0009\u0009

\u0009\u0009

Greenply Industries Ltd.\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 373.65\u0009\u0009

\u0009\u0009

Hercules Hoists Ltd.\u0009\u0009

Dividend Per Share Rs.4\u0009\u0009

Previous day Closing Price – Rs. 616.1\u0009\u0009

\u0009\u0009

Linde India Limited\u0009\u0009

Special Dividend Per Share Rs.8\u0009\u0009

Dividend Per Share Rs.4\u0009\u0009

Previous day Closing Price – Rs. 8178.35\u0009\u0009

\u0009\u0009

Menon Pistons Ltd.\u0009\u0009

Dividend Per Share Rs.1\u0009\u0009

Previous day Closing Price – Rs. 91.93\u0009\u0009

\u0009\u0009

Rishiroop Ltd\u0009\u0009

Dividend Per Share Rs.1.8\u0009\u0009

Previous day Closing Price – Rs. 183\u0009\u0009

\u0009\u0009

Somany Ceramics Ltd.\u0009\u0009

Dividend Per Share Rs.3\u0009\u0009

Previous day Closing Price – Rs. 774.45

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18:00 U.S. Non-Farm Employment Change (Expected: 176K versus Previous: 206K)

18:00 U.S. Unemployment Rate (Expected: 4.1% versus Previous: 4.1%)

18:00 U.S. Average Hourly Earnings m/m (Expected: 0.3% versus Previous: 0.3%)

19:30 U.S. Factory Orders m/m (Expected: -2.7% versus Previous: -0.5%)

Exxon Mobil Corporation (Pre market) (Sector- Energy)

Chevron Corporation (Pre market) (Sector- Energy)

Enbridge Inc (Pre market) (Sector- Energy)

Ares Management Corporation (Pre market) (Sector- Financial)

Imperial Oil Limited (Pre market) (Sector- Energy)

LyondellBasell Industries NV (Pre market) (Sector- Chemical)

Church & Dwight Company, Inc. (Pre market) (Sector- Miscellaneous)

PPL Corporation (Pre market) (Sector- Power)

Plains All American Pipeline, L.P. (Pre market) (Sector- Energy)

Magna International, Inc (Pre market) (Sector- Automobiles)

Brookfield Renewable Partners L.P (Pre market) (Sector- Power)

Cboe Global Markets, Inc. (Pre market) (Sector- Financial)

Berkshire Hathaway Inc. (TENT) (Sector- Financial)

NET PROFIT UP 17.9% AT ₹112.5 CR VS ₹95 CR (YOY)

NII DOWN 24.5% AT ₹174.8 CR VS ₹231.4 CR (YOY)

Q1 SL NET PROFIT 275.7M RUPEES VS 112M (YOY); 374M (QOQ)

PUDUMJEE PAPER: Q1 REVENUE 2.03B RUPEES VS 1.81B (YOY); 2.05B (QOQ)

PUDUMJEE PAPER: Q1 EBITDA 369.3M RUPEES VS 178M (YOY) || Q1 EBITDA MARGIN 18.21% VS 9.84% (YOY)

Q1 CONS NET PROFIT 159M RUPEES VS 176M (YOY); 54M (QOQ) || Q1 REVENUE 5.2B RUPEES VS 4.8B (YOY)

Q1 EBITDA 269M RUPEES VS 203M (YOY) || Q1 EBITDA MARGIN 5.14% VS 4.18% (YOY)

Q1 SL NET PROFIT 915M RUPEES VS 418M (YOY) || Q1 REVENUE 9.3B RUPEES VS 8.47B (YOY)

Q1 EBITDA 1.79B RUPEES VS 1.54B (YOY) || Q1 EBITDA MARGIN 19.21% VS 18.19% (YOY)

CONS NET PROFIT UP 78% AT 14.85CR (YOY), UP 102% (QOQ)

REVENUE UP 16% AT 181.8CR (YOY) ,UP 10% (QOQ)

EBITDA UP 68% AT 16.78CR (YOY), UP 8%(QOQ) 

MARGINS 9.22% V 6.37% (YOY), 9.45% (QOQ)

👉Net profit up 22.9% at ₹131.6 cr vs ₹107 cr (YoY)

👉Revenue down 6.4% at ₹2,350.8 cr vs ₹2,510.2 cr (YoY)

👉EBITDA up 17.2% at ₹226.2 cr vs ₹193 cr (YoY)

👉Margin at 9.6% vs 7.7% (YoY)

👉Net profit up 23.6% at ₹177.8 cr vs ₹144 cr (YoY)

👉Revenue up 26.5% at ₹5,535.5 cr vs ₹4,375.7 cr (YoY)

👉EBITDA up 16.5% at ₹376.1 cr vs ₹322.8 cr (YoY)

👉Margin at 6.8% vs 7.4% (YoY)

Neuland Laboratories: Q1 Cons Net Profit 979m Rupees Vs 619m (yoy)

Neuland Laboratories: Q1 Ebitda 1.23b Rupees Vs 969m (yoy) || Q1 Ebitda Margin 28.06% Vs 26.70% (yoy)

Neuland Laboratories: Q1 Revenue 4.4b Rupees Vs 3.63b (yoy)

01 August 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 135582.04 + 9429.93 Total: 145011.97

F&O Volume: 546815.2 + 1612407.82 Total: 2159223.02

Provisional Cash

FII/FPI: NET BUY: 2089.28 

(17860.22 - 15770.94) 

DII: NET SELL: -337.03 

(13956.4 - 14293.43)

Adani Enterprises’ net profit in the first quarter of FY25 more than doubled to ₹1,454.5 crore, with an increase in other income and revenue rising 12.5 per cent to ₹25,472 crore, driven by the airports division and the businesses under Adani New Industries (ANIL). Read more

Zomato’s net profit surged to ₹253 crore in the quarter ended March 31, up nearly 126 times compared to the corresponding period last year. Revenue from operations stood at ₹4,206 crore, up 74 per cent in the quarter under review. Read more

Puravankara Limited, a realty company headquartered in Bengaluru, announced its quarterly results on 31st July. The company reported quarterly sales of ₹1,128 crore, a slight increase from ₹1,126 crore in Q1 FY24, although some planned launches were postponed to Q2 FY25. Read more

Tata Motors Ltd reported a 74 per cent increase in its consolidated net profit with ₹5,566 crore reported in the June quarter as opposed to ₹3,203 in the same quarter last year. Read more

The Adani Enterprises (AEL) Board, on Thursday, approved the demerger of its food FMCG business to Adani Wilmar (AWL) along with AEL’s strategic investment in Adani Commodities, a move that will bring Adani Wilmar directly under the control of Adani promoter group, paving the way for a potential stake sale. Read more

The new UK Government has offered Tata Steel additional support to set up new projects as the newly-elected Labour party attempts to save jobs which are stake due to large-scale operational restructuring at the company’s Port Talbot unit. Read more

The benchmark indices rose for the fifth straight session on Thursday amid positive global cues. The Nifty closed above 25,000 for the first time, rallying 1,000 points in 24 sessions, the third-fastest in the index’s history. The index has gained 10.6 per cent in the last three months. The Sensex rose 0.15 per cent to 81,867. Read more

The stock of Berger Paints India has been on a rally since the beginning of June. It found support at ₹450 on the back of which it started to rally. It has been making higher since then and early this week, the stock moved above the 200-day moving average, a bullish sign. Read more

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

Le Travenues Technology Limited which operates online travel portal ixigo reported 78 per cent growth in net profit on a year-on-year basis in Q1 FY 2025 driven by higher revenue. Net profit for the quarter stood at ₹14.9 crore against ₹8.4 crore in same period last year. Read more

Aptus Value Housing Finance Ltd has reported a 21 per cent rise in its profit after tax at ₹172 crore for the quarter ended June 30, 2024, when compared with ₹142 crore in the year-ago quarter. The company’s net profit growth was supported by business growth, stable asset quality and continuous focus on higher productivity, P Balaji, Managing Director of the company said in a statement. Read more

Godrej Agrovet Limited announced a purchase agreement with Tyson India Holdings Limited for the remaining 49 per cent stake in Godrej Tyson Foods Limited (GTFL). The stake will be acquired at a cost of ₹322.8 crore. Read more

The domestic passenger vehicle (PV) wholesale (dispatches to dealers) in July saw major companies including Maruti Suzuki India (MSIL), Hyundai Motor India (HMIL) and Tata Motors reporting negative sales as compared to the same month last year. Read more

TVS Mobility, the holding company for businesses managed by the T S Rajam family, a faction of the larger TVS Group of Companies, has signed an agreement with Japan’s Mitsubishi Corporation to launch the TVS Mobility Mitsubishi Employee Exchange Programme. Read more

Tobacco-to-hotels conglomerate ITC missed first quarter profit estimates on Thursday, as higher expenses and challenges at its paperboards and packaging business hurt margins.

Demand in ITC’s paperboards, paper and packaging business, which makes up roughly a tenth of its revenue, has fallen in recent quarters due to competition with cheaper Chinese products, squeezing its overall sales and earnings. Read more