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The GIFT Nifty is up 68 points or 0.27% at 25,216 as of 6:30 a.m., indicating a higher start for the benchmark Nifty 50.
Markets On Home Turf
India's benchmark equity indices pulled back on Thursday after two days of gains, weighed by heavyweights Infosys Ltd. and HDFC Bank Ltd.
The BSE Sensex lost 375.24 points or 0.45% to close at 82,259.24, while the NSE Nifty 50 ended 100.6 points or 0.4% lower at 25,111.45. The 50-stock gauge struggled to take out 25,200 due to call writing at that level on the weekly expiry day. Intraday, the index shed 0.44%.
Foreign portfolio investors turned net sellers of Indian shares after two days of buying as they offloaded stocks worth Rs 3,694.3 crore, according to provisional data from the National Stock Exchange.
The domestic institutional investors, who remained buyers for the ninth straight session, bought stocks worth Rs 2,820.8 crore.
Wall Street Update
US stocks finished at all-time highs Thursday as retail sales rebounded in June, easing concerns about a slowdown in consumer spending and underpinning a strong economy.
The S&P 500 Index rose 0.5% to briefly top the psychologically important 6,300 level, notching a fresh record for the first time in a week. The Nasdaq Composite climbed 0.7%, also closing at an all-time high. The Dow Jones Industrial Average added 0.5%.
Asia Market Update
Asian stocks made a modest gain at the open Friday as a global equity rally gained fresh vigor on strong economic data that eased concerns about the US economy. The MSCI Asia Pacific Index rose 0.2% at the open.
Nikkei flat
Topix flat
Kospi down 0.2%
S&P/ASX 200 up 0.9%
Hang Seng futures
Commodities Check
Oil held a gain after US data showed the world’s largest economy holding up despite the fallout from the Washington-led trade war, while crude market metrics pointed to near-term tightness. Global benchmark Brent traded above $69 a barrel after advancing by more than 1% in the previous session, while West Texas Intermediate was near $67.
Most industrial metal prices rose on the London Metal Exchange.
Copper up 0.3%
Aluminium flat
Nickel up 0.5%
Zinc up 1%
Lead down 0.2%
Key Data To Watch
On Friday, Europe will announce its Current Account and Construction Output data. India will release its bank load growth and foreign exchange reserve data.
US among multiple data points will be releasing its Housing starts and building permits.
Earnings In Focus
Hindustan Zinc, JSW Steel, Reliance Industries, IndiaMART InterMESH, Indian Overseas Bank, L&T Finance, Mastek, Bandhan Bank, Mangalore Refinery and Petrochemicals, Aarti Drugs, Atul, Hatsun Agro Product.
Earnings Post Markets
Axis Bank Q1 FY26 Highlights (Standalone, YoY)
NII up 1% to Rs 13,560 crore versus Rs 13,448 crore (Estimate: Rs 13,970 crore).
Net Profit down 3.8% to Rs 5,806 crore versus Rs 6,035 crore (Estimate: Rs 6,376 crore).
Provisions up 94% to Rs 3,948 crore versus Rs 2,039 crore.
Net NPA at 0.45% versus 0.33% (QoQ).
Gross NPA at 1.57% versus 1.28% (QoQ).
Fresh slippages at Rs 8,200 crore versus Rs 4805 crore.
Wipro Q1 FY26Highlights (Consolidated, QoQ)
Revenue down 1.65% to Rs 22,134 crore versus Rs 22,504.2 crore. (Estimate: Rs 22,078 crore).
EBIT decreased 9.09% to Rs 3,548 crore versus Rs 3,902 crore. (Estimate: Rs 3,783 crore).
EBIT margin contracted 132 basis points to 16.02% versus 17.3%. (Estimate: 17.1%).
Net profit fell 7.02% to Rs 3,336 crore versus Rs 3,588 crore. (Estimate: Rs 3,249 crore).
LTIMindtree Q1 FY26 Highlights (Consolidated, QoQ)
Revenue 0.7% up at Rs 9,840.60 crore versus Rs 9,771.70 crore. (Estimate: Rs 9,855 crore).
EBIT up 5% to Rs 1,406.50 crore versus Rs 1,345.40 crore. (Estimate: Rs 1416 crore).
EBIT margin at 14.3% versus 13.8%. (Estimate: 14%).
Net profit up 11% to Rs 1,254.10 crore versus Rs 1,128.50 crore. (Estimate: Rs 1,194 crore).
Trailing 12-month attrition was 14.4%
Revenue – Constant Currency terms grew by 0.8% QoQ and 4.4% YoY
Order Inflow at $1.63 billion versus $1.60 billion quarter-on-quarter $1.40 billion year-on-year.
Indian Hotels Co Q1 FY26 Highlights (Consolidated, YoY)
Revenue 31.7% up at Rs 2,041.08 crore versus Rs 1,550.23 crore.
Ebitda up 28% to Rs 576.03 crore versus Rs 449.60 crore.
Ebitda margin at 28.2% versus 29%.
Net profit up 19% to Rs 296.37 crore versus Rs 248.39 crore.
Jio Financial Services Q1 FY26 Highlights (Consolidated, YoY)
Net Profit up 3.8% to Rs 325 crore versus Rs 313 crore.
Total Income up 48.3% at Rs 619 crore versus Rs 418 crore.
AUM of JioBlackRock Asset Management exceeds Rs. 17,800 crore.
Jio Credit Limited AUM at Rs. 11,665 crore, up from Rs. 217 crore in Q1 FY25.
Pre-provisioning Operating Profit at Rs. 366 crore, up 8% YoY.
Nuvoco Vistas Corporation Q1 FY26 Highlights (Cons, YoY)
Revenue up 8.95% at Rs 2872 crore versus Rs 2636 crore.
Ebitda up 51.02% at Rs 518 crore versus Rs 343 crore.
Ebitda margin up 502 bps at 18.03% versus 13.01%.
Net profit at Rs 133 crore versus Rs 2.25 crore.
Other income grew by 3.2 times at Rs 14.8 crore vs Rs 4.52 crore
Ceat Q1 FY26 Highlights (Cons, YoY)
Revenue up 10.5% at Rs 3,529 crore vs Rs 3,193 Cr
Ebitda up 1.3% at Rs 388 crore vs Rs 383 crore
Margin at 11% versus 12%
Net Profit down 27% At Rs 112 crore versus Rs 154 crore.
Re-appoints Arnab Banerjee as MD, CEO for a further two years
To spend Rs 450 crore on capex at Chennai Plant.
Sterling and Wilson Renewable Energy Q1 FY26 Highlights (Consolidated, YoY)
Revenue up 92.5% to Rs 1,761.63 crore versus Rs 915.06 crore.
Ebitda at Rs 85.46 crore versus Rs 24.68crore.
Margin at 4.9% versus 2.7%.
Net Profit up multifold to Rs 31.97 crore versus Rs 4.19 crore.
Tata Communications Q1 FY26 Highlights (Consolidated, QoQ)
Revenue down 0.5% to Rs 5,959.85 crore versus Rs 5,990.35 crore.
Ebitda up 1% to Rs 1,136.81 crore versus Rs 1,122.08 crore.
Margin at 19.1% versus 18.7%
Net Profit down 82% to Rs 190.14 crore versus Rs 1,040.51 crore.
Notable slip in net profit owing to Rs 311.2 crore exceptional gain in the previous quarter.
Sunteck Realty Q1 FY26 Highlights (Consolidated, YoY)
Revenue down 40.5% at Rs 188 crore versus Rs 316 crore.
Ebitda up 52% to Rs 47.7 crore versus Rs 31.4 crore.
Ebitda margin at 25.4% versus 9.9%.
Net profit up 46.8% to Rs 33.4 crore versus Rs 22.8 crore.
Pre-sales grew to ~Rs.657 crore, up 31% YoY
Collections stood strong at Rs.351 crore.
Shoppers Stop Q1 FY26 Highlights (Consolidated, YoY)
Revenue 8.6% up at Rs 1,161.08 crore versus Rs 1,069.31 crore.
Ebitda up 20% to Rs 171.51 crore versus Rs 142.92 crore.
Ebitda margin at 14.8% versus 13.4%.
Net loss at Rs 15.74 crore versus loss of Rs 22.72 crore.
Clean Science Q1 FY26 Highlights (Consolidated, YoY)
Revenue up 8.4% to Rs 243 crore versus Rs 224 crore.
Ebitda up 5.5% to Rs 99.8 crore versus Rs 94.7 crore.
Margin at 41.1% versus 42.3%.
Net Profit up 6.3% to Rs 70.1 crore versus Rs 65.9 crore.
360 One WAM Q1 FY26 Highlights (Consolidated, QoQ)
Total income up 10% to Rs 727 crore versus Rs 659 crore.
Net profit up 15% at Rs 288 crore versus Rs 250 crore.
Stocks in News
One 97 Communication: The company incorporated its step-down arm Paytm company in Saudi Arabia.
Afcons Infra: The company emerged as lowest bidder in two road construction contracts worth Rs 4,535 crore from Croatian Motorways.
Ambuja Cements: The company received no objection letter from NSE for the scheme of arrangement with Sanghi Industries.
Veranda Learning: The company opened QIP, approved the floor price at Rs 236.92 per share.
Satin Creditcare: The company allotted 4,410 NCDs aggregating to Rs 44 crore.
Inox wind: The company approved raising up to Rs 1,250 crore via rights issue.
Bharat Forge: Arm Kalyani strategic systems incorporated joint venture aegis advanced systems SL in Spain.
Delhivery: The company received approval from Competition Commission of India for acquisition of Ecom Express.
Seamec: Vessel SEAMEC II scheduled Drydock activities are in full progress. All measures are being taken not to delay the completion of the docking.
EMS: The company received an order worth Rs 19.46 crore for electrical works from Deltabulk Shipping India.
Indostar: The company completed the sale of its subsidiary Niwas Housing Finance to EQT’s affiliate Witkopoend B.V. for Rs 1,705.95 crore.
South Indian Bank: The company approved raising Rs 1,000 crore via bonds.
HAL: The company received the first set of wing assemblies for LCA Mk1A from L&T.
Lupin: The company received good manufacturing practice certification from Therapeutic Goods Administration Australia for Dabhasa API Facility.
Allied Blenders and Distillers: The Bombay High Court has issued a directive to the company, instructing the company to maintain the current status of not introducing its products in India. Furthermore, the High Court has ordered the company to continue using the brands 'Mansion House' and 'Savoy Club' until a final decision is reached
Lupin: USFDA concluded inspection at Pithampur Unit-2 facility and issued a form-483 with four observations. The inspection was conducted from July 8-17.
Sun Pharma: The company incorporated arm Sun Pharma (Hainan) in China.
Orchid Pharma: The company executed a deed of hypothecation for securing various credit facilities amounting Rs 143 crore from HDFC Bank for setting up the Cefiderocol Project.
Mahindra & Mahindra: The company’s arm, Mahindra Logistics, received approval for a rights issue of shares valued at RS 749 crore, with an issue price set at Rs 277 per share.
Hariom Pipe Industries: Induction Furnace, Continuous Casting Machine & Rolling Mill at Telangana to undergo temporary shutdown from July 20-30.
Stanley Lifestyles: Pradeep Kumar Mishra resigned as CFO.
Insider Trade
Som Distilleries & Breweries: Promoter Deepak Arora bought 10,000 shares.
Pledge Share Details
Ganesha Ecosphere: Promoter GPL Finance created a pledge of 10.25 lakh shares.
Trading Tweaks
Price Band change to 20% from 5%: Valor Estate.
Ex-Dividend: PI Transmission, GIC Housing Finance, TTK Healthcare, Prudent Corporate Advisory Services, Punjab Chemicals & Crop Protection, Safari Industries, Sasken Technologies, Shanthi Gears, Sundaram Brake Linings, Neuland Laboratories, Newgen Software Technologies, Welspun Corp, Xpro India, Orient Electric, Jubilant Foodworks, Mahindra Lifespace Developers, Kotak Mahindra Bank, MRF, Bharti Airtel, Hitech Corporation, HCL Technologies.
Ex-Bonus Issue: Motherson Sumi Wiring India (1:2), Samvardhana Motherson International (1:2), IFGL Refractories (1:1).
F&O Cues
Nifty July futures down by 0.3% to 25,170 at a premium of 59 points.
Nifty July futures open interest up by 0.68%.
Nifty Options 24 July Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000.
Securities in ban period: Angel One, Hindustan Copper, RBL Bank.
Currency And Bond
The Indian rupee closed weaker for the second day on Thursday, slipping by 13 paise to trade at 86.07 against the US dollar. The yield on the benchmark 10-year bond settled one basis points lower at 6.30% on Thursday.
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