Stock Market Live Updates July 29, 2024: Sensex, Nifty trade flat; PSU banks shine, FMCG stocks drag

Bharti Airtel (-2.08%), Titan (-1.95%), Cipla (-1.40%), ITC (-1.18%), Tata Consumer Products (-1.12%)

Divi’s Lab (2.93%), BPCL (2.92%), L&T (2.58%), Bajaj Finserv (1.99%), M&M (1.98%) 

Adani Total Gas reported a jump in first-quarter profit on Monday, helped by strong demand for the cleaner-burning compressed natural gas (CNG), sending its shares 2% higher.

The Adani group company’s consolidated profit rose 15% to ₹172 crore (around $21 million) in the three months ended June 30, marking its sixth straight rise in quarterly profit.

Revenue from operations rose to ₹1,239 crore from ₹1,135 crore a year ago. Sales volume in the company’s piped natural gas (PNG) segment, its second-biggest, rose 11% to 77 million standard cubic metres of gas per day.

Quick Heal Technologies Limited reported revenue of ₹70.3 crore for Q1 FY25, EBITDA of ₹2.6 crore and PAT of ₹4.0 crore. This represents a 37 per cent increase in revenue and a remarkable 117 per cent growth in EBITDA compared to the same period last year.

In less than a month after acquiring a 22.8 per cent non-controlling stake in India Cements, Ultratech has announced a share purchase agreement with India Cements promoter and related group to acquire 32.7 per cent stake and make it into a controlling stake with 55.49 per cent shareholding. While the earlier transaction was done at ₹268 per share (EV of $90 per ton), the stock has rallied 33 per cent since and the current SPA was done at ₹390 per share (EV of $122 per ton) for the 14.5 MTPA capacity.

Wonderla Holidays board has given in-principle approval for exploring fundraising options by way of Equity/ debt/ instruments or any combination thereof to fund expansion plans for the next seven to eight years.

Top gainers on the NSE as at 3 pm:

Divi’s Lab (2.62%), BPCL (2.51%), L&T (2.48%), SBI (1.51%), Ultratech Cement (1.39%)

Top losers:

Titan (-2.55%), Bharti Airtel (-2.20%), Tech Mahindra (-1.50%), Hero Motocorp (-1.33%), Tata Consumer Products (-1.26%)

Sensex slipped 92.01 pts or 0.11% to 81,240.71 and Nifty fell 27.50 pts or 0.11% to 24,807.35.

Stocks advanced on BSE at 3 pm on July 29, 2024, were 2,355 against 1,676 stocks that declined; 139 stocks remain unchanged. Total stocks traded were 4,170. The number of stocks that recorded a 52-week high was 389, and those that hit a 52-week low was 22. 

In addition, 461 stocks traded in upper circuit and 237 stocks hit the lower circuit.

Kansai Nerolac Paints recorded its standalone net profit for the quarter ended June 2024 at ₹241.10 crore as against ₹743.83 crore in the corresponding quarter last year. 

Kansai Nerolac Paints stock trades at ₹281 on the NSE.

Top gainers of Nifty realty stocks:

DLF (4.86%), Prestige (2.94%), Phoenix Mills (2.56%), Brigade (1.81%)

ASK Automotive Ltd recorded its consolidated net profit for the quarter ended June 2024 at ₹56.83 crore as against ₹34.84 crore in the corresponding quarter last year.

ASK Automotive stock surges 5.64% on the NSE, trading at ₹421.95.

​Wheels India​ recorded its consolidated net profit for the quarter ended June 2024 at ₹23.74 crore as against ₹8.70 crore in the corresponding quarter last year. 

Stock rose 1.51% on the NSE, trading at ₹878.55.

Voltamp Transformers shares jumped 6.06% on the NSE, trading at ₹12,962.10.

Company recorded its net profit for the quarter ended June 2024 at ₹79.44 crore as against ₹50.77 crore in the corresponding quarter last year.

Sensex slips 98.59 pts or 0.12% to trade at 81,234.13, and Nifty 50 was down 23.25 pts or 0.09% to trade at 24,811.60 as at 2.16 pm.

Cyient DLM has been awarded a contract by Boeing for the production of Battery Diode Module (BDM) for the 787 Dreamliner. 

Stock jumps 7.02% on the NSE, trading at ₹830.40.

JSW Neo Energy Ltd, a wholly-owned subsidiary of JSW Energy Ltd, has received a Letter of Intent (or “LoI”) from Gujarat Urja Vikas Nigam Ltd (GUVNL) --- a Gujarat government entity engaged in bulk sale and purchase of electricity --- for setting up a 192 MW grid connected hybrid power project, including an additional 96 MW under the green shoe option. Read more

Whirlpool of India recorded its net profit for the quarter ended June 2024 at ₹145.25 crore as against ₹76.72 crore in the corresponding quarter last year.

Whirlpool of India stock surges 5.82% on the NSE, trading at ₹2,176.95.

Elara Securities on the cement sector: 

Based on our interactions with cement dealers, sales executives and C&F agents, there has been a noticeable decline in cement prices and demand in July following a muted Q1FY25. Pricing pressure continues in July, with more pronounced price drops observed in South and East India. Therefore, all-India average retail price in July fell INR 9 per 50kg bag MoM to INR 341. A breakdown of regional price movement reveals South India experienced the sharpest decline, with prices dropping by INR 13 per bag, followed by East India with a reduction of INR 12 per bag while North India saw a dip of INR 7 per bag. Prices in Central and West India fell by INR 6 per bag each.

On the demand side, several factors contributed to soft demand in July. The ongoing Monsoon along with region-specific challenges, such as limited sand availability, labor non-availability in several parts due to rise in harvesting activities, and liquidity constraints have dampened demand in the current month. According to market intermediaries, Monsoon is set to continue adversely affect demand in the near term. As a result, any attempts to raise prices in August are unlikely to sustain given the prevailing market conditions.

Arvind Ltd recorded its standalone net profit for the quarter ended June 2024 at ₹39.82 crore as against ₹64.05 crore in the corresponding quarter last year.

The stock fell 2.72% on the NSE, trading at ₹375.80.

Derivative Rollover Note by Motilal Oswal Financial Services:

· Nifty index kick started the July series on a positive note and bulls were seen completely in charge for most part of the series and touched a fresh all time high of 24854 levels.

· The index witnessed buying interest for most part of the series with some profit booking in the last week and still gave the highest ever closing.

· Nifty formed a Bullish candle on expiry to expiry basis and has been making higher highs from the last nine series.

· July series witnessed a reduction in open interest by 9% with a rise in price by 1.5% on an expiry-to-expiry basis which indicates some short covering move in the index. Rollover of Nifty stood at 69.7%, which is lower than its quarterly average of 72.6% and lower than the rollover of the last two months.

Larsen & Toubro Ltd (L&T) is an engineering & construction (E&C) conglomerate with presence in IT and financial services sectors and operations in more than 30 countries

In Q1FY25, L&T revenue grew 15.1% YoY to Rs. 55,120cr, driven by robust executional order book in hand combined with accelerated contributions from international business to 48% vs 40% in Q1FY24.

Order book stood all-time high at Rs. 4,909bn and the EBITDA margin was stable at 10.2%, as revenue cost mix remained the same.

L&T delivered resilient quarterly performance in Q1FY25. Further, the recent government budget, increasing demand for international projects and a healthy order book in hand provide a positive outlook.

Hence, we reiterate our BUY rating on the stock with a revised target price of Rs. 4,179 based on sum-of-the-parts (SOTP) valuation.

Shriram reported strong performance in 1QFY25 aided by robust AUM growth (up 21% YoY and 4% QoQ) and healthy return profile with RoA (calc) at 3.3%. NII was up 25% YoY and 3% QoQ (5% above est). NIMs (on AUM, calc) declined 13bps QoQ to 9.1% was due to change in product mix. Going ahead, some margin improvement can be expected. Operating profits increased 23% YoY and down 1% QoQ (5% above our estimates) while PAT grew 18% YoY and 2.0% QoQ (6% ahead of our estimates). Asset Quality continues to improve further. The management expressed confidence in achieving upwards of 15% AUM growth for FY25. Regarding the quarterly performance, the management highlighted that there was no substantial impact of election and hence credit offtake was good. Owing to a robust economic environment, a shift in AUM mix towards higher-yielding assets, and operating leverage is expected to drive a 20-30bps expansion in RoA over the next couple of years. The sale of the housing subsidiary, anticipated to be completed by February 2025, SFL is set to receive Rs3,900cr from the sale, resulting in an increase in CRAR by ~80 bps. We build in AUM/PAT CAGR at 16%/19% over FY24-26E and RoA/RoE at 3.4%/16.4% for FY26E. We maintain BUY on the stock with a TP of Rs3480 by assigning 2.25x P/ABV FY26E and an upside of 19% from current levels.

IRB InvIT Fund, India’s first listed Infrastructure Investment Trust will distribute Rs 116 crores to unit holders at the rate of Rs 2 per unit for the first quarter of FY25. 

The board of IRB Infrastructure, an Investment Manager to the IRB InvIT Fund, announced the distribution in a board meeting convened for the Q1FY25 financial results of IRB InvIT Fund. 

The Trust has set July 31, 2024, as a record date for distribution and the same will be paid to the unit holders on or before 9th August 2024.

TTK Prestige is planning new product development with launches in the second quarter, leveraging the festive season across appliances, cookware, and cookers 

MSCI related inflows expected in last 30 minutes today. MSCI will adjust the free float today, leading to a slight weight increase in the stock

According to Nuvama Alternative, the weight increase will result in an inflow of $45 million

ICICI Bank shares rise 1.38% on the NSE, trading at ₹1,223.85. The bank recorded a 15 per cent year-on-year increase in the first quarter (Q1FY25) standalone net profit at ₹11,059 crore, on the back of moderate growth in net interest income (NII) and robust growth in other income.

Copper prices are under pressure and have been falling over the last three weeks. The Copper Futures contract on the Multi Commodity Exchange (MCX) had tumbled about 10 per cent in the last three weeks. The contract had touched a low of ₹777 per kg last week. However, it has got a breather at the opening trades today. The contract has bounced and is currently trading at ₹791 per kg. Read more

Adani Wilmar recorded a standalone net profit of ₹323.55 crore for the quarter ended June 2024, as against a loss of ₹38.44 crore in the corresponding quarter last year.

AWL stock surges 4.83% on the NSE, trading at ₹340.85.

NeuralGarage, a Bengaluru-based Generative AI company, has collaborated with UFO Moviez, digital cinema distribution network and in-cinema advertising platform.

UFO Moviez stock surges 3.92% on the NSE, trading at ₹137.

Top gainers: SBI (2.97%), ICICI Bank (2.86%), IndusInd (2.69%), Divi’s Lab (2.53%), L&T (2.42%)

Top losers: Tata Consumer Products (-2.06%), Tech Mahindra (-1.88%), Titan (-1.84%), Bharti Airtel (-1.72%), Cipla (-1.67%)

A total of 4,036 stocks were traded on the BSE at 12 noon on July 29, 2024. While 2,611 advanced, 1,262 stocks declined; 163 stocks remained unchanged. While 358 stocks that recorded a 52-week high, 18 hit a 52-week low. 

In addition, 430 stocks traded in the upper circuit and 183 stocks hit the lower circuit.

Honda India Power Products receives assessment order with disallowances of certain expenditure resulting into tax demand ₹17.88 crore including interest. 

Stock trades at ₹3,977.45 on the NSE, down by 0.40%.

NIIT Institute of Finance, Banking and Insurance (NIIT IFBI), a subsidiary of NIIT, has announced the launch of the ACE Banker Programme in collaboration with HDFC Bank.

NIIT stock inches up 0.89% to trade at ₹128.73. HDFC Bank stock trades at ₹1,630.05 on the NSE, up 0.74%.

Shares of Bandhan Bank surged over 13 per cent in morning trade on Monday after the private sector firm posted a 47 per cent jump in its net profit to ₹1,063 crore for the June 2024 quarter due to a decline in bad loans.

The stock soared 11.97 per cent to ₹215.50 on the BSE. At the NSE, it jumped 13.35 per cent to ₹218.20.

The lender had earned a net profit of ₹721 crore in the year-ago period. Read more

The rupee weakened to an all-time low on Monday, pressured by dollar demand from importers, including oil companies, even as most of its Asian peers logged gains. Read more

Goa Carbon unit at St. Jose de Areal, Salcete-Goa, has been temporarily shut down for maintenance work from today, 29th July 2024. 

Goa Carbon stock trades at ₹756.75 on the NSE, up 0.87%

Astral has shifted the operation of its adhesive manufacturing Plant situated at Unnao, Dist. Unnao (Uttar Pradesh) by moving the Unnao plant manufacturing facilities in nearby Adhesive plant at Rania (Kanpur Dehat) and our new Plant situated at Dahej (Gujarat).

Top gainers:

RITES (11.33%), Bandhan Bank (10.78%), VST Industries (8.30%), EID Parry (7.54%), KSCL (7.50%)

Top losers:

Spandana (-5.57%), Laxmi Organic (-4.68%), Equitas (-4.52%), Mphasis (-3.50%), Latent View (-3.33%)

UltraTech Cement will acquire a 32.72 per cent stake in India Cements from promoters and their associates for ₹3,954 crore. 

UltraTech Cement stock inches up 0.73% on the NSE, trading at ₹11,758.70

SRM Contractors has got a new project and has been provided with Letter of Acceptance (LOA) for PBMC Project of NHAI (National Highway Authority of India) for aggregate quoted price of Rs.171,23,78,001.

SRM Contractors stock rose 1.85% on the NSE, trading at ₹252.90.

Bank Nifty July Futures can rise to 52,200-52,250 on a break above 52,000. 

Read more here.

Harshdeep Hortico has received purchase order from Green World Nursery & Landscape for supply of Flower pots. The Order value is ₹51,38,868.86 Inclusive of all taxes.

Nifty 50 opened with a wide gap-up at 24,943 and has come down from there. It is currently trading at 24,881, up 0.19 per cent. The advances/declines ratio is at 24:26. Read more

Equity market benchmark indices Sensex and Nifty hit their new all-time high levels in early trade on Monday in-tandem with a rally in global peers and fresh foreign fund inflows. Read more

Crude oil futures traded higher on Monday morning due to fears of rising conflict in the West Asia region. Read more

Cipla stock declines 2.36% on NSE, trading at ₹1,537.85. The company expects to commence supplies to the US market from its China facility in the second half of the current fiscal after getting approval from the American health regulator, according to its MD and global CEO Umang Vohra.

For more updates click here

HSCC (India) Ltd, a wholly-owned subsidiary of NBCC (India) Ltd, has secured a contract worth ₹411.45 crore for construction of New Government Medical College of 100 student capacity and 430 bedded Hospital at Buldhana.

NBCC stock rose 2.30% on the NSE, trading at ₹178.54

PNB (6.24%)

IOB (4.32%)

PSB (3.97%)

Bank of India (3.96%)

Bank of Baroda (3.18%)

Remedium Lifecare Ltd. has entered into agreement with Angel Partners, Ltd., UK, to acquire technology for manufacturing lithium carbonate. Company also signed an annual Supply Agreement with Alfa Chemicals and Solvents Ltd., Turkey, effective the same date. Supplies of technical-grade lithium carbonate will commence in the January-March 2025 quarter. The supplies for CY 2025 are valued at $20-25 million. 

Stock rallies 9.93% on the BSE, trading at ₹15.83

SpiceJet stock jumps 5.17% on the BSE, trading at ₹60.60. The airlines welcomed Supreme Court’s decision to dismiss an appeal filed by Kalanithi Maran and Kal Airways challenging a Delhi High Court division bench ruling in favour of the airline.

Dr. Reddy’s Laboratories Ltd. has announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the launch of its proposed biosimilar Rituximab candidate in European markets. 

Dr. Reddy’s Laboratories stock trades at ₹6,820 on the NSE, down by 0.85%.

JSW Neo Energy Ltd, a wholly-owned subsidiary of JSW Energy, has received a Letter of Intent from Gujarat Urja Vikas Nigam Ltd, for setting up 192 MW Grid connected Hybrid Power Project, including an additional 96 MW under the green shoe option. 

JSW Energy stock trades at ₹688.70 on the NSE, down by 0.70%.

| CMP Rs. 1531 | M Cap Rs. 12860 Cr | 52 W H/L 1531/578

(Nirmal Bang Retail Research)

Order book Came at Rs.1159cr QoQ Rs.1402cr YoY Rs.543cr

Result

Revenue from Operations came at Rs. 254.6 Cr (80.1% QoQ, 92.2% YoY) vs QoQ Rs. 141.4 Cr, YoY Rs. 132.4 Cr

EBIDTA came at Rs. 111.4 Cr (120.9% QoQ, 61.6% YoY) vs QoQ Rs. 50.4 Cr, YoY Rs. 68.9 Cr

EBITDA Margin came at 43.7% vs QoQ 35.7%, YoY 52%

Adj. PAT came at Rs. 76.8 Cr vs QoQ Rs. 32.5 Cr, YoY Rs. 47.1 Cr

Quarter EPS is Rs. 9.1

Stock is trading at P/E of 82.9x TTM EPS

CMP Rs. 798 | M Cap Rs. 1444 Cr | 52 W H/L 817/399

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 251.8 Cr (3.9% QoQ, 61% YoY) vs QoQ Rs. 242.2 Cr, YoY Rs. 156.4 Cr

EBIDTA came at Rs. 28.1 Cr (52.4% QoQ, 52.1% YoY) vs QoQ Rs. 18.5 Cr, YoY Rs. 18.5 Cr

EBITDA Margin came at 11.2% vs QoQ 7.6%, YoY 11.8%

Adj. PAT came at Rs. 17.7 Cr vs QoQ Rs. 12.3 Cr, YoY Rs. 12.3 Cr

Quarter EPS is Rs. 9.8

Stock is trading at P/E of 25.8x TTM EPS

CMP Rs. 366 | M Cap Rs. 11117 Cr | 52 W H/L 381/172

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 414.2 Cr (-1.4% QoQ, 58.6% YoY) vs QoQ Rs. 420.1 Cr, YoY Rs. 261.1 Cr

EBIDTA came at Rs. 63.2 Cr (16.5% QoQ, 121.8% YoY) vs QoQ Rs. 54.2 Cr, YoY Rs. 28.5 Cr

EBITDA Margin came at 15.2% vs QoQ 12.9%, YoY 10.9%

Adj. PAT came at Rs. 48.3 Cr vs QoQ Rs. 24.3 Cr, YoY Rs. 23.1 Cr

Quarter EPS is Rs. 1.6

Stock is trading at P/E of 99.3x TTM EPS

| CMP Rs. 1842 | M Cap Rs. 7464 Cr | 52 W H/L 1867/818

(Nirmal Bang Retail Research)

Result improved

Revenue from Operations came at Rs. 1269.2 Cr (16.4% QoQ, 16.9% YoY) vs QoQ Rs. 1090.2 Cr, YoY Rs. 1085.9 Cr

EBIDTA came at Rs. 81.7 Cr (75.5% QoQ, 134.8% YoY) vs QoQ Rs. 46.5 Cr, YoY Rs. 34.8 Cr

EBITDA Margin came at 6.4% vs QoQ 4.3%, YoY 3.2%

Adj. PAT came at Rs. 37.5 Cr vs QoQ Rs. 12 Cr, YoY Rs. -0.6 Cr

Quarter EPS is Rs. 9.3

Stock is trading at P/E of 45.9x FY25E EPS

CMP Rs. 6892 | M Cap Rs. 114974 Cr | 52 W H/L 6960/5212

(Nirmal Bang Retail Research)

Result marginally ahead of Expectation

Company announced stock split from Rs.5 paid up to Rs.1 paid up 

Revenue from Operations came at Rs. 7696.1 Cr (8.2% QoQ, 13.9% YoY) vs expectation of Rs. 7272.7 Cr, QoQ Rs. 7113.8 Cr, YoY Rs. 6757.9 Cr

EBIDTA came at Rs. 2129.9 Cr (16.3% QoQ, 3.3% YoY) vs expectation of Rs. 2026.8 Cr, QoQ Rs. 1831.2 Cr, YoY Rs. 2062.1 Cr

EBITDA Margin came at 27.7% vs expectation of 27.9%, QoQ 25.7%, YoY 30.5%

Adj. PAT came at Rs. 1392.4 Cr vs expectation of Rs. 1326.4 Cr, QoQ Rs. 1309.8 Cr, YoY Rs. 1405 Cr

Quarter EPS is Rs. 83.5

Stock is trading at P/E of 20.3x FY25E EPS

| CMP Rs. 1531 | M Cap Rs. 12860 Cr | 52 W H/L 1531/578

(Nirmal Bang Retail Research)

Order book Came at Rs.1159cr QoQ Rs.1402cr YoY Rs.543cr

Result

Revenue from Operations came at Rs. 254.6 Cr (80.1% QoQ, 92.2% YoY) vs QoQ Rs. 141.4 Cr, YoY Rs. 132.4 Cr

EBIDTA came at Rs. 111.4 Cr (120.9% QoQ, 61.6% YoY) vs QoQ Rs. 50.4 Cr, YoY Rs. 68.9 Cr

EBITDA Margin came at 43.7% vs QoQ 35.7%, YoY 52%

Adj. PAT came at Rs. 76.8 Cr vs QoQ Rs. 32.5 Cr, YoY Rs. 47.1 Cr

Quarter EPS is Rs. 9.1

Stock is trading at P/E of 82.9x TTM EPS

Top gainers: NTPC (2.70%), BPCL (2.22%), SBI (2.20%), IndusInd (1.85%), ICICI Bank (1.59%)

Top losers: Cipla (-1.70%), Dr Reddy’s Lab (-1.26%), Tata Consumer Products (-1.21%), Titan (-1.09%), Bharti Airtel (-0.92%)

Nifty outlook:

The vertical rise on Friday seeks to shrug off bearish vibes and set a path for a run towards 25800. However, MACD which slipped below the signal line last week, is yet to turn back in, retaining some bearish momentum, which needs to be guarded against, today. This prompts us to keep the downside marker at 24750 below 24100-23670 will stand exposed again. However, intermediate supports at 24600- 530-450 shall step in to avoid a collapse. 

Derivative outlook:

Nifty weekly contract has highest open interest at 24400 for Calls and 24400 for Puts while monthly contracts have highest open interest at 24400 for Calls and 24400 for Puts. Highest new OI addition was seen at 24400 for Calls and 24400 for Puts in weekly and at 24400 for Calls and 24400 for Puts in monthly contracts. FIIs increased their future index long position holdings by 24.57%, decreased future index shorts by 2.67% and in index options by 63.75% increase in Call longs, 71.02% increase in Call short, 65.72% increase in Put longs and 60.45% increase in Put shorts. 

FX Monitor:

INR: The Indian rupee fell to a new low of 83.73 against the US dollar on Friday due to continuous demand from oil importers and weak risk appetite. It traded within a narrow range, having settled at 83.70 on Thursday. The Reserve Bank of India intervened to protect the rupee around 83.73. This closing marked the lowest level for the rupee on both a daily and weekly basis.

USD: The dollar index slipped 0.03% to 104.30, with the euro up 0.1% at $1.0855. The greenback weakened 0.1% to 153.78 yen, heading for its biggest weekly drop against the yen since early May. The yen strengthened on expectations of a Fed rate cut, anticipated Bank of Japan tightening, and suspected BOJ intervention earlier this month.

At 9.13 am on Monday, October Brent oil futures were at $80.53, up by 0.31 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $77.32, up by 0.21 per cent. August crude oil futures were trading at ₹6486 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹6478, up by 0.12 per cent, and September futures were trading at ₹6419 against the previous close of ₹6409, up by 0.16 per cent.

Type of Offer: Acquisition

Acquirer: UltraTech Cement Limited

Issue of Public Announcement: 28-Jul-24

Offer price Rs: 390

CMP: Rs 374.60

(%Prem.)/Disc.: 4.11%

Offer Size : Rs 3,142.36 Cr

Proposed Acq. No. of shares: 8.06 cr

Proposed Acq. : 26%

Indicative Schedule of Activity: Not Yet Announced

29 July 2024 (Today)

Derivative Segment

* ACC Ltd.

* Bharat Electronics Ltd.

* Colgate-Palmolive Ltd.

* Hindustan Petroleum Corp 

Cash Segment

* Adani Total Gas Ltd.

* Adani Wilmar Ltd.

* CSB Bank Ltd.

* Data Patterns (India) Ltd.

* Indian Bank

* Jindal Saw Ltd.

* Kalpataru Projects Int Ltd.

* Kansai Nerolac Paints Ltd.

* KEI Industries Ltd.

* Pfizer Ltd.

* Privi Speciality Chemicals 

* Quess Corp Ltd.

* Restaurant Brands Asia Ltd.

* Vedant Fashions Ltd.

* Whirlpool Of India Ltd.

30 July 2024

Derivative Segment

* Dixon Technologies (India) 

* Exide Industries Ltd.

* GAIL (India) Ltd.

* Granules India Ltd.

* Indiamart Intermesh Ltd.

* Indian Oil Corporation Ltd.

* Indus Towers Ltd.

* Navin Fluorine Int Ltd.

* Tata Consumer Products Ltd.

Cash Segment

…

[8:49 am, 29/7/2024] KS BadriNarayanan: Dividend Dates\u0009

\u0009

Ex-Dividend 30 July 2024 (Tomorrow)\u0009

Last date for Cum-Dividend Today\u0009

\u0009

Avanti Feeds Ltd.\u0009

Dividend Per Share Rs.6.75\u0009

Previous day Closing Price – Rs. 694.4\u0009

\u0009

Banswara Syntex Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 171.9\u0009

\u0009

Brigade Enterprises Ltd.\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 1249.6\u0009

\u0009

Bsl Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 207.25\u0009

\u0009

Cravatex Ltd.\u0009

Dividend Per Share Rs.3\u0009

Previous day Closing Price – Rs. 460.15\u0009

\u0009

Granules India Ltd.\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 563.45\u0009

\u0009

Kokuyo Camlin Ltd.\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 155.55\u0009

\u0009

Orient Bell Limited\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 403.2\u0009

\u0009

Pecos Hotels And Pubs Ltd\u0009

Dividend Per Share Rs.3\u0009

Previous day Closing Price – Rs. 350.95\u0009

\u0009

Standard Industries Ltd.\u0009

Dividend Per Share Rs.0.55\u0009

Previous day Closing Price – Rs. 36.41\u0009

\u0009

Ultratech Cement Ltd.\u0009

Dividend Per Share Rs.70\u0009

Previous day Closing Price – Rs. 11679.25

Route – Tender 

Buyback Price: 1,460/ 

Current Market Price: 1,386/-

Market Cap: Rs 81,227 Crores 

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

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

Retail Quota: 7,70,548 Shares

Last Cum Trading Date: 29 July 2024 (Today)

Ex-Date: 30 July 2024

Buyback Record Date: 30 July 2024

Buyback Schedule: Not Yet Announced

AUTOMOTIVE AXLES – Rs 32

BIRLA CORPORATION – Rs 10

DB CORP – Rs 7

DEEPAK NITRITE – Rs 7.50

FAIRCHEM ORGANICS – Rs 7.50

HAWKINS COOKERS – Rs 120

INFO EDGE – Rs 12

Hold Call, TARGET Rs 485

EBITDA Was 20% Ahead Of Est On Lower Gas Costs

Volumes Declined YoY And Were 2% Below

Expect Vol Growth To Remain Subdued Over Fy25-27e

Slowdown In Delhi (70% Of Vol) & Growing EV Risk

Rising APM Shortfall Puts A Lid On Margins

Recent Price Hikes May Not Compensate Fully For The Higher Reliance On LNG

Cut Earnings By 8%/1%, On Lower Margin Assumptions

Equal-Weight Call, Target Raised To Rs 2,900

Mgmt Commentary Continues To Be Constructive

BFS Vertical Has Been Witnessing Improving Trends

However, Execution Has Scope To Improve

Post The Run-Up Since End Of May, Valuations Are Not Cheap

===

Citi on Mphasis

Sell Call, Target Rs 2,235

Reported In-Line Q1, Revenues Were Largely Inline

Margins Were Slightly Lower

TTM Down 42% YoY In Q1

There Are Deals Won In FY24 To Be Converted To Revenues

Headcount Declined ~7% YoY In Q1

Mgmt Says, Discretionary Spends Trends Hasn’t Changed Vs Q4

Though There Are Some Green Shoots & Early Signs Of Recovery In Mortgage

Buy Call, Target Rs 650

CMS Info Systems (CMSINFO) remains pleasantly predictable as it steadily moves towards its FY25E revenue goal (well within reach) and given its costeffective service platform for the broader BFSI industry, and its leadership stature, the company should continue to steadily grow over the medium-term as well. Since our reiteration note in March, the steady re-rating in the name (11x 1Y PE on listing; 19x today) suggests that the market too is easing its concerns and appreciating the CMSINFO story for what it truly is – a BFSI outsourced services partner and not just a cash handler. We reiterate our positive stance (BUY / TP Rs650 / 23x implied FY26E P/E) given its ~15% earnings CAGR (FY24-26E) / 25% RoCE.

Underperform Call, Target Rs 110

Had A Strong Qtr & Run-Rate For July Seems To Indicate An >25% Vol Growth

With Abundant Domestic Coal Availability

Un-Requisitioned Power & Renewable Plants Trying To Leverage Infirm Power Think Near-Term Tailwinds Are Supportive For Vols

On Regulatory Front Though, Next 3-6 Months Could Carry Some Uncertainty

Results Of Shadow Coupling Expected From Regulator

Neutral Call, TP Raised To Rs 6,625

Q1 Rev/EBITDA Above Est, Driven By Robust Performance In Core Markets

Margin Beat Primarily Driven By Better GMs

EBITDA Margin Partially Offset By Higher SG&A Spends

Raise FY25-27E EPS By 2%-12% To Factor In Q1 Beat

Higher Growth For India/US Business & Updated Biz Outlook

Buy Call, Target Rs 4,800

Q1 EPS Of Rs 71 Was Above Est

Beat Driven Largely By Higher One-off Compensation Booking

Beat Partially Offset By Higher Costs

Yields And ASK/RPK Were Largely In-Line With Est

Passenger Fleet Size Increased To 379 Planes, With 8 From New Deliveries

Aircraft Groundings Were Stable At Mid-70s

Co Expects Groundings To Start Coming Down By End Of FY25

For Q2, Co Expects High-single Digit YoY ASK Growth

Buy Call, Target Cut To Rs 95

Q1 Profit Missed Estimates Due To Higher Credit Losses In MFI Segment

Drag May Sustain In Q2-Q4 As Well

New Disclosure On Vintage Delinquency Of Other Retail Loans Is Encouraging

Deposit Growth Of 36% To Aid Loan Growth & Improvement In LDR (97% Now)

Op Efficiencies Are Evident And Will Aid Profits Over H2FY25-27Lower Est For MFI Losses, But See RoA Rising To 1.4% In FY27

ACC, AGI, APOLLOPIPE, ARVIND, ASKAUTOLTD, ASTEC, ATGL, AVL, AWL, BALMLAWRIE, BEL, COLPAL, CSBBANK, DATAPATTNS, GOODLUCK, HINDPETRO, IDEAFORGE, INDIAGLYCO, INDIANB, ISMTLTD, JINDALSAW, KANSAINER, KEI, KPIL, MAHSEAMLES, MANYAVAR, NDTV, PFIZER, PRIVISCL, QUESS, SANGHIIND, SHANTIGEAR, STAR, STOVEKRAFT, VOLTAMP, WARDINMOBI, WHIRLPOOL, WONDERLA

ACC 

* Revenue expected at Rs 4927 crore versus Rs 5201 crore

* EBITDA expected to be seen at Rs 690 crore versus Rs 770 crore

* EBITDA margin expected to be seen at 14.0% versus 14.80%

* Net profit expected to be seen at Rs 379 crore versus Rs 466 crore

AWL 

* Revenue expected at Rs 14,384 crore versus Rs 12,928 crore

* EBITDA expected to be seen at Rs 443 crore versus Rs 130 crore

* EBITDA margin expected to be seen at 3.07% versus 1.00%

* Net profit expected to be seen at Rs 172 crore versus Rs (78) crore

BEL 

* Revenue expected at Rs 3999 crore versus Rs 3532 crore

* EBITDA expected to be seen at Rs 844 crore versus Rs 672 crore

* EBITDA margin expected to be seen at 21.10% versus 19.02%

* Net profit expected to be seen at Rs 690 crore versus Rs 538 crore

COLPAL 

* Revenue expected at Rs 1433 crore versus Rs 1314 crore

* EBITDA expected to be seen at Rs 472 crore versus Rs 424 crore

* EBITDA margin expected to be seen at 32.93% versus 32.26%

* Net profit expected to be seen at Rs 334 crore versus Rs 293 crore

HINDPETRO 

* Revenue expected at Rs 1,10,811 crore versus Rs 1,14,677 crore

* EBITDA expected to be seen at Rs 2882 crore versus Rs 4881 crore

* EBITDA margin expected to be seen at 2.60% versus 4.25%

* Net profit expected to be seen at Rs 941 crore versus Rs 2709 crore

PFIZER 

* Revenue expected at Rs 536 crore versus Rs 531 crore

* EBITDA expected to be seen at Rs 164 crore versus Rs 110 crore

* EBITDA margin expected to be seen at 2.60% versus 4.25%

* Net profit expected to be seen at Rs 139 crore versus Rs 93 crore

STAR 

* Revenue expected at Rs 1066 crore versus Rs 930 crore

* Net profit expected to be seen at Rs 26 crore versus Rs 7 crore

Q1FY25 EARNING CALENDAR 30.07.2024

AJANTPHARM, APARINDS, ARVSMART BALUFORGE, CAPITALSFB, CARBORUNIV, CARTRADE, CASTROLIND, CORDSCABLE, DIXON, EMUDHRA, EXICOM, EXIDEIND, FORCEMOT, FSL, GAIL, GRANULES, INDIAMART, INDUSTOWER, IOC, JSL, LLOYDSENGG, LODHA, MOIL, RRKABEL, SAPPHIRE, SHYAMMETL, SKIPPER, STARHEALTH, TATACONSUM, TITAGARH, TORNTPOWER, TVSSCS, VBL, WAAREERTL, ZAGGLE

APARINDS 

* Revenue expected at Rs 4003 crore versus Rs 3773 crore

* EBITDA expected to be seen at Rs 346 crore versus Rs 346 crore

* EBITDA margin expected to be seen at 8.64% versus 9.17%

* Net profit expected to be seen at Rs 185 crore versus Rs 197 crore

DIXON 

* Revenue expected at Rs 5614 crore versus Rs 3271 crore

* EBITDA expected to be seen at Rs 211 crore versus Rs 131 crore

* EBITDA margin expected to be seen at 3.75% versus 4.00%

* Net profit expected to be seen at Rs 112 crore versus Rs 68 crore

EXIDEIND 

* Revenue expected at Rs 4477 crore versus Rs 4072 crore

* EBITDA expected to be seen at Rs 564 crore versus Rs 432 crore

* EBITDA margin expected to be seen at 12.59% versus 10.60%

* Net profit expected to be seen at Rs 328 crore versus Rs 241 crore

GAIL 

* Revenue expected at Rs 33,084 crore versus Rs 32,334 crore

* EBITDA expected to be seen at Rs 3907 crore versus Rs 2408 crore

* EBITDA margin expected to be seen at 11.80% versus 7.45%

* Net profit expected to be seen at Rs 2241 crore versus Rs 2177 crore

INDUSTOWER 

* Revenue expected at Rs 7396 crore versus Rs 7075 crore

* EBITDA expected to be seen at Rs 3958 crore versus Rs 5341 crore

* EBITDA margin expected to be seen at 53.51% versus 75.49%

* Net profit expected to be seen at Rs 1688 crore versus Rs 1347 crore

LODHA 

* Revenue expected at Rs 2460 crore versus Rs 1617 crore

* EBITDA expected to be seen at Rs 688 crore versus Rs 330 crore

* EBITDA margin expected to be seen at 27.96% versus 20.40%

* Net profit expected to be seen at Rs 362 crore versus Rs 178 crore

McDonald’s Corporation (Pre market) (Sector- Retail)

ON Semiconductor Corporation (Pre market) (Sector- Technology) 

Koninklijke Philips N.V. (Pre market) (Sector- Healthcare)

Loews Corporation (Pre market) (Sector- Financial)

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

CNA Financial Corporation (Pre market) (Sector- Financial)

Welltower Inc. (Post market) (Sector- Construction)

Equity Residential (Post market) (Sector- Realty) 

Symbotic Inc. (Post market) (Sector- Capital Goods)

SBA Communications Corporation (Post market) (Sector- Realty)

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

Telefonica Brasil S.A. (Post market) (Sector- Telecom)

Banco De Chile (Post market) (Sector- Financial) 

Woodward, Inc. (Post market) (Sector- Defence) 

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

F5, Inc. (Post market) (Sector- Technology)

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

Sumitomo Mitsui Financial Group Inc (TENT) (Sector- Financial)

NET PROFIT AT 5.17 CR V 4.66 CR LOSS (YOY), UP 139 % (QOQ)

REVENUE UP 31 % AT 134 CR (YOY) ,UP 7 % (QOQ)

EBITDA OF 13.7 CR V 0.91 CR LOSS (YOY),UP 54 %(QOQ) 

MARGINS AT 10.2 % V -0.8 % (YOY),7.04 % (QOQ)

SHFL’s growth and ROE gap to large-cap NBFCs are narrowing & we believe this will be reflected in better valuations 

Raise our FY25/26 EPS estimates by 1% on higher AUM growth estimate. 

OW, Tgt at 3,200 vs 3,000

Sustained momentum in India branded Gx, recovery in trade Gx, launch of additional peptides, gradual ramp in Lanreotide will likely help the company achieve 25% EBITDA margin in FY25

Stock now TOP PICK over other SUN/TorPh

In-line (ex one-off compensation)

Costs have started to come in higher in line with management commentary 

August 5 meeting will give clarity on growth strategy and its new model of premium offerings, long haul

Buy. TP of Rs4,800 (up from Rs4,700)

GENUS POWER Q1 :CONS NET PROFIT UP 110 % AT 48.3 CR (YOY),UP 99 % (QOQ)

REVENUE UP 59 % AT 414 CR (YOY) ,DOWN 1% (QOQ)

EBITDA UP 123 % AT 63.44 CR (YOY),UP 17 %(QOQ) 

MARGINS AT 15.3 % V 10.9 % (YOY), 12.9 % (QOQ)

Meghmani Organics Q1 consolidated net loss at Rs 168 million versus loss of Rs 345 million (YOY); Q1 revenue at Rs 4.14 billion versus Rs 4.26 billion (YOY) 

Q1 EBITDA gains Rs 59M RUPEES VS EBITDA LOSS 221M (YOY) || Q1 EBITDA MARGIN 1.42%

OPERATING PROFIT UP 8 % TO RS 189 CR (QOQ)

DISBURSEMENT DOWN 52 % TO RS 2283 CR (QOQ)

AUM DOWN 2 % TO 11723 CR ,(QOQ)

GROSS NPA AT 2.60 % V 1.63 % (QOQ)

NET NPA AT 0.53 % V 0.49 % (QOQ)

NO. OF CUSTOMER DOWN 3 % TO 34.1 LKH (QOQ)

NIMS AT 15.2 % V 14.6 % (QOQ)

COST OF BORROWINGS AT 11.6 % V 11.7 (QOQ)

ROA AT 1.7 % V 4.1 % (QOQ)

Alankit Q1 consolidated net profit up 56 % at Rs 7.4 crore (YOY), up 12% (QOQ). Revenue up 27 % at Rs 61.93 core (YOY), down 32 % (QOQ). EBITDA up 44 % at Rs 8.22 crore (YOY),DOWN 21 %(QOQ) 

Margins at 13.25 % V 11.65 % (YOY), 11.4 % (QOQ)

Stock market live updates today: Smruthi Organic Q1: Net loss at Rs 0.92 crore vs Rs 2.29 crore profti (YOY), Rs 1.51 crore profit (QOQ); Revenue down 22% at Rs 27.27 (YOY), down 31% (QOQ). EBITDA down 90 % at Rs 0.44 crore (YOY), DOWN 89 % (QOQ) ; margins at 1.63% versus 13.2 % (YOY), 10.05 % (QOQ)

Eraaya Lifespaces Ltd has paid $14 million (INR 117 crores) for the acquisition of Ebix Inc. on July 26, 2024, bringing the total paid to $35.75 million (INR 299 crores). 

An additional $6.6 million (INR 55 crores) and $14 million (INR 117 crores) will be paid by July 2024, with the final payment due in August 2024

UltraTech Cement will acquire a 32.72 per cent stake in India Cements from promoters and their associates for ₹3,954 crore. Besides, Ultratech has also announced a ₹3,142.35 crore open offer to acquire another 26 per cent share of India Cements from its shareholders. The board of the Aditya Birla firm approved the acquisition of 32.72 per cent stake from promoters and their associates at ₹390 a share, according to a regulatory filing from UltraTech on Sunday. Read more

*Overview:*

Piramal Pharma Ltd reported a robust start to FY25, with a 12% YoY revenue growth driven by strong performance in its CDMO and India Consumer Healthcare businesses. The company’s EBITDA grew by 31% YoY, reflecting effective cost optimization and operational efficiencies[^1^][1].

*Key Financial Metrics:*

- *Revenue:* INR 19,511.40 million, up from INR 19,351.00 million in the previous quarter.

- *EBITDA Margin:* Improved to 11% from 10% in Q1 FY24[^1^][1].

- *Net Debt-to-EBITDA Ratio:* Reduced to 2.8x from 5x in Q1 FY24[^2^][2].

*Segment Performance:*

- *CDMO Business:* Delivered 18% YoY growth, driven by strong order inflows and execution[^3^][3]. The segment continues to benefit from increased demand for commercial manufacturing of on-patent molecules.

- *Complex Hospital Generics:* Witnessed strong demand for sevoflurane and isoflurane, particularly in the U.S. and emerging markets[^4^][4]. However, price reductions in the U.S. market impacted overall growth.

- *India Consumer Healthcare:* Achieved double-digit revenue growth, led by new product launches and strong performance of power brands like Lacto Calamine and Little’s.

*Operational Highlights:*

- *Quality and Compliance:* Maintained a best-in-class track record with zero OAI since 2011[^5^][5]. Successfully closed U.S. FDA inspections at Lexington and Ahmedabad facilities with zero observations.

- *Sustainability:* Recognized as one of the top sustainable organizations in India by Times Now Global Sustainable Organizations for 2024[^6^][6].

*Outlook:*

Piramal Pharma remains optimistic about its growth prospects across all business lines. The company reiterates its FY25 guidance of early teens YoY growth in revenue and absolute EBITDA[^7^][7]. Continued investments in R&D, capacity expansion, and sustainability initiatives are expected to drive long-term value creation.

*Conclusion:*

Piramal Pharma’s Q1 FY25 results demonstrate strong operational performance and strategic execution. The company’s focus on cost optimization, quality compliance, and sustainability positions it well for sustained growth and profitability.

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

Conference call Replay available in Various speeds !

Researchbytes Events Update

As of 07:15 AM Saturday 27 July 2024

Can set alert for them at www.researchbytes.com 

6:30 AM IDFC First Bank

Dial: +91 22 6280 1144

10:00 AM Amber Enterpris

(Results)

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/ymnwbfmc

11:30 AM KAYNES TECHNOLO

Dial: +91 22 6280 1144

Weblink: https://tinyurl.com/55sfbeux

4:30 PM Dr Reddys Labs

Dial: +91 22 6280 1219

Weblink: https://tinyurl.com/5m38jbez

4:30 PM ICICI Bank

Dial: +912262801154

Weblink: https://tinyurl.com/bdf2dfd6

5:00 PM J&K Bank

(Annual Report)

Weblink: https://tinyurl.com/3p7up57a

City Union Bank : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306068

IndusInd Bank : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306069

PiramlLifeSci : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306063

Go Digit Genera : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306064

BANDHAN BANK : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306065

Equitas Small F : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306067

Ashok Leyland : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306066

Mahanagar Gas : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306062

Dhampur Bio Org : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306055

Nelcast : (replay)

https://www.researchbytes.com/webcast.aspx?WID=306056

Results today …

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

Recent interviews …

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

Replays available at www.researchbytes.com

Q1 SL NET 113M PROFIT RUPEES VS 172M (YOY); 317M (QOQ)

Q1 REVENUE 1.77B RUPEES VS 1.92B (YOY)

Q1 EBITDA 216M RUPEES VS 307M (YOY) || Q1 EBITDA MARGIN 12.19% VS 15.91% (YOY)

The domestic markets are likely to build on the momentum as Gift Nifty is ruling strong at 25,075, well above Nifty futures Friday’s close of 24,915. Analysts expect the momentum to continue and advise traders to stay away from blind shorting, as no one is sure of market tops. All eyes are now on Nifty, whether it will cross the psychological 25,000-mark. Nifty on Friday closed at 24,834, a fresh all-time high. According to analysts, it will happen soon if not today. Read more

Xpro India reported a net profit of ₹140.2 million for the quarter, up from ₹113 million year-on-year (YoY) and ₹124.3 million quarter-on-quarter (QoQ). Revenue increased to ₹1.39 billion YoY, compared to ₹1.31 billion, and was up from ₹1.28 billion QoQ. EBITDA for the quarter was ₹156.5 million, down from ₹193 million YoY, with an EBITDA margin of 11.3%, compared to 14.73% YoY. The company plans to further invest ₹1.2 billion in its unit.

City Union Bank’s operating profit increased by 6% quarter-on-quarter (QoQ) to ₹373 crore. Provisions rose by 22% QoQ to ₹39 crore. The bank reported a reduction in gross NPA to 3.88% from 3.99% QoQ, and net NPA improved to 1.87% from 1.97% QoQ.

Mangalam Organics reported a significant increase in consolidated net profit, which rose by 294% year-on-year (YoY) to ₹2.09 crore and by 24% quarter-on-quarter (QoQ). The company’s revenue increased by 8% to ₹118 crore YoY and by 12% QoQ. EBITDA saw a rise of 23% YoY to ₹10.87 crore, with a 7% increase QoQ. Margins improved to 9.21% from 8.09% YoY, though they slightly decreased from 9.7% QoQ.

KFin Technologies reported a consolidated net profit of ₹68.07 crore for the quarter, reflecting a 9% decline quarter-on-quarter (QoQ) but a 53% increase year-on-year (YoY). Revenue rose by 4% to ₹237.5 crore QoQ and increased by 31% YoY. EBITDA decreased by 5% to ₹14.8 crore QoQ, though it grew by 42% YoY. The company reported margins of 41.95%, down from 45.81% QoQ, but up from 38.8% YoY.

Accelya Solutions reported a consolidated net profit increase of 35% year-on-year (YoY) to ₹31 crore, marking an impressive 15490% surge quarter-on-quarter (QoQ). Revenue rose by 5% YoY but saw a slight decline of 2% QoQ. Despite the profit growth, EBITDA fell by 3% to ₹47.65 crore YoY and 5% QoQ. The company’s margins were at 37.19%, compared to 40.15% YoY and 38.38% QoQ.

ESAF Small Finance Bank’s operating profit declined by 11% to ₹254 crore quarter-on-quarter (QoQ). Provisions decreased by 25% to ₹169 crore QoQ. However, gross NPA increased to 6.61% from 4.76% QoQ, and net NPA rose to 3.22% from 2.26% QoQ. The actual gross NPA surged 39% to ₹1,242 crore QoQ, while net NPA increased by 41% to ₹583 crore QoQ.

Net Profit: Up 454% YoY to ₹2.88 crore, down 49% QoQ

Revenue: Up 39% YoY to ₹12.75 crore, down 21% QoQ 

EBITDA: ₹2.92 crore profit vs. ₹0.22 crore loss YoY, down from ₹6.2 crore profit QoQ 

Margins: 22.9% vs. 38.6% YoY, -2.4% QoQ

26 July 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 136773.3 + 12220.58 Total: 148993.88

F&O Volume: 469085.25 + 43524185.86 Total: 43993271.11

Provisional Cash

FII/FPI: NET BUY: +2546.38 

(18201.3 - 15654.92) 

DII: NET BUY: +2774.31 

(18856.44 - 16082.13)

As the dust settles on the debate among taxpayers over the pros and cons of the Bbudget, it is more important to deal with the situation that the new proposals would place any investor in, especially while juggling asset classes. Read more

A zillion views follow every time the Government presents its annual Budget — some nuanced, some analysed in depth and some triggered by emotions. The proposed change in capital gains tax on real estate saw all of it. While the tax department put out illustrations showing why it will be beneficial to most taxpayers, others who weren’t convinced put in equal effort to disprove with numbers, the government’s stand. Read more

Sensex and Nifty 50 have risen sharply from their lows last week. Both the indices have closed higher by about a per cent each last week. The strong rise and close on Friday have reduced the danger of the corrective fall that we had cautioned last week. That leaves the broader uptrend intact. read more