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Stock Market Today: Sensex, Nifty Snap Two Days Of Gains As RIL, M&M, Adani Enterprises Drag; FPIs Net Sellers

Stock Market Today: Sensex, Nifty Snap Two Days Of Gains As RIL, M&M, Adani Enterprises Drag; FPIs Net Sellers
The Bombay Stock Exchange on Dalal Street. (Source: Reuters) 
3 years ago
India's benchmark stock indices snapped two days of gains after opening higher on Tuesday. Consumer Durables sectors and financial services sector was the top gainers. While Telecommunication and metals were under pressure. ICICI Bank and Cipla Ltd. were leading the gains, whereas RIL Ltd., M&M Ltd. dragged.

  • To sub-divide face value of equity shares from Rs 10 to Rs 2 apiece

  • Record date for subdivision not announced yet

  • Source: Exchange filing

  • Revenues up 133.24% at Rs 1965.52 crore vs Rs 842.68 crore

  • Net profit at Rs 403.26 crore vs Net loss of 930.33 crore

  • Ebitda up 104.21% at Rs 535.87 crore vs Rs 262.41 crore

  • Margins at 27.26% vs 31.13%

  • Source: Exchange Filing

  • To list digital marketing arm Odigma Consultancy Solutions

  • Shareholders of the company will receive one equity share of Odigma for 89 fully paid-up equity shares held in the parent

  • Source: Exchange filing

  • Signs Rs 13,000 crore MoU with the Government of Maharashtra for 2800 MW of pumped hydro storage projects

  • 1800 MW projects will be built in Shirawata, Pune

  • 1000 MW projects will be built in Bhivpuri, Raigad

  • Source: Exchange filing

  • Revenues down 8.7% at Rs 52,991 crore vs Rs 58,018 crore (Bloomberg Estimated Rs 42560.68 crore)

  • Net profit down 40.4% at Rs 2,454 crore vs Rs 4.119 crore (Bloomberg Estimated Rs 1,981.55 crore)

  • Ebitda down 32.2% at Rs 5714 crore vs Rs 8429 crore (Bloomberg Estimated Rs 4231.48 crore)

  • Margins at 10.78% vs 14.53% (Bloomberg Estimated 9.94%)

  • Source: Exchange Filing

  • Revenues up 13.8% at Rs 1131.32 crore vs Rs 993.76 crore

  • Net profit up 17.6% at Rs 72.83 crore vs Rs 61.91 crore

  • Ebitda up 15.3% at Rs 161.9 crore vs Rs 140.36 crore

  • Margins at 14.31% vs 14.12%

  • Source: Exchange Filing

  • Signs pact with West Bengal State Electricity Distribution Company for advanced metering infrastructure.

  • Project will be funded by the World Bank.

  • Source: Exchange filing

  • Revenues up 20.1% at Rs 1701.04 crore vs Rs 1416.16 crore

  • Net profit at Rs 35.43 crore vs loss of Rs 9.6 crore

  • Ebitda up 14.89% at Rs 218.61 crore vs Rs 190.28 crore

  • Margins at 12.85% vs 13.44%

  • Source: Exchange Filing

Maruti Suzuki To Issue Preferential Shares To Parent For Gujarat Plant Buyout

  • Revenue down 23.34% at Rs 5,589.28 crore vs Rs 7,291.18 crore (Bloomberg Estimate: Rs 6127.4 crore)

  • Ebitda up 6.72% at Rs 633.31 crore vs Rs 593.38 crore (Bloomberg Estimate: Rs 615.6 crore)

  • Margins at 11.33% vs 8.13%

  • Net profit down 0.93% at Rs 338.64 crore vs Rs 341.82 crore(Bloomberg Estimate: Rs 324.9 crore)

  • Source: Exchange Filing

Gets U.S. FDA approval for Abbreviated New Drug Application for Metoprolol Succinate ER Tablets.

Alert: Medication is used to treat chest pain, heart failure and high blood pressure.

Source: Exchange filing

  • Appoints Ramesh Nair as CEO from Sept 1.

  • Elevated Vinod Rohira from CEO role to Board Member of the REIT.

  • Source: Exchange Filing

  • TCS will design and build a new solution built on the current platform, which currently has architectural challenges.

  • The new GeM platform will be based on e-commerce and e-marketplace principles with open-API-based architecture.

  • It will be highly scalable, designed to accommodate the anticipated six-fold growth in GMV over the next six years.

  • Source: Exchange filing

Shares of GIC Housing Finance Ltd. declined over 10% on Tuesday after its consolidated net profit and revenue fell in the first quarter of financial year 2024.

The housing finance company's profit dropped 19% to Rs 31.8 crore in the June quarter, according to an exchange filing on Monday.

GIC Housing Finance Q1FY2024 (Consolidated, YoY)

  • Revenue down 2% at Rs 268.43 crore vs Rs 273.98 crore

  • Ebitda up 2.1% at Rs 226.02 crore vs Rs 221.42 crore

  • Ebitda margins at 84.20% vs 80.82%

  • Net profit down 18.7% at Rs 31.84 crore vs Rs 39.17 crore

Shares of GIC Housing were trading 9.50% lower at Rs 185.35 apiece as of 10:02 a.m. compared to a 0.03% decline in the benchmark NSE Nifty 50. The stock declined as much as 10.77%, the most since Dec. 23, 2022.

The stock has declined nearly 12.77% year-to-date. The total traded volume so far in the day stood at 16.3 times its 30-day average. The relative strength index at 45.07.

Gets LOA for design, supply and operation of 21.7 lakh smart meters worth Rs 2,209.84 crore

Source: Exchange filing

  • 1.94 crore shares worth 5.9% equity traded in 11 pre-market trades

  • Buyers and sellers not known immediately

  • Source: Cogencis

The broader indices overperformed the benchmark indices with S&P BSE MidCap trading 0.243% higher and S&P BSE SmallCap trading 0.27% higher.

Fifteen out of the 19 sectors compiled by BSE Ltd. advanced. S&P BSE Consumer Durables gained the most.

The market breadth was skewed in the favour of the bulls. About 1,755 stocks advanced, 897 declined and 98 remained unchanged.

At pre-open, the S&P BSE Sensex Index was up 95.33 points or 0.14% at 66,048.81 while the NSE Nifty 50 Index was 29.90 points or 0.15% higher at 19,627.20.

Source: Bloomberg

The yield on the 10-year bond opened flat at 7.19% on Tuesday.

Source: Bloomberg

  • The local currency weakened 5 paise to open at Rs 82.80 against the U.S dollar on Tuesday.

  • It closed at 82.75 on Monday.

  • Source: Bloomberg

Stock Market Today: All You Need To Know Going Into Trade On Aug. 8

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