The NSE Nifty 50 ended 662.10 points or 2.68% lower at 24,055.60, the lowest level since June 28.
The BSE Sensex ended 2.74% or 2,222.55 points lower at 78,759.40, the lowest level since June 26.
All 12 sectors ended in negative note on NSE, with the the NSE Nifty Metal emerging as the worst performing sector.
Intraday, both the benchmarks logged worst decline since June 4.
Reliance Indfoustries Ltd., HDFC Bank Ltd. were top losers in the Nifty 50 index.
Market breadth was skewed in the favour of sellers. Around 3,408 stocks fell, 670 rose, and 111 remained unchanged on the BSE.
Net profit rose 20.4% at Rs 40.5 crore vs Rs 33.7 crore
Revenue rose 33.5% at Rs 513 crore vs Rs 385 crore
Ebitda rose 32.3% at Rs 64.2 crore vs Rs 48.5 crore
Margin fell at 12.5% vs 12.6%
Revenue up 3% at Rs 960 crore vs Rs 932 crore
EBITDA up 27% at Rs 153 crore vs Rs 121 crore
EBITDA margin at 15.9% vs 12.9%
Net profit up 33% at Rs 137 crore vs Rs 103 crore
Revenue up 72.95% at Rs 83.57 crore vs Rs 48.32 crore
Ebitda up 122.71% at Rs 24.12 crore vs Rs 10.83 crore
Margin up 644 bps at 28.86% vs 22.41%
Net profit up 142.85% at Rs 14.11 crore vs Rs 5.81 crore
Net profit rose 19.4% at Rs 31.5 crore vs Rs 26.4 crore
Revenue rose 28.9% at Rs 156 crore vs Rs 121 crore
Ebitda rose 26.9% at Rs 61 crore vs Rs 48 crore
Margin fell at 39.1% vs 39.7%
Revenue rose 12.3% at Rs 1,014 crore vs Rs 903 crore
Ebitda fell 17.2% at Rs 120 crore vs Rs 145 crore
Margin at 11.8% vs 16.1%
Net profit fell 60.9% at Rs 34 crore vs Rs 87 crore
Net profit rose 8.7% at Rs 474 crore vs Rs 436 crore
Revenue rose 6.7% at Rs 2,643 crore vs Rs 2,477 crore
Ebitda rose 9.1% at Rs 626 crore vs Rs 574 crore
Margin at 23.7% vs 23.2%
Net profit fell 0.8% at Rs 36.7 crore vs Rs 37 crore
Revenue fell 15.6% at Rs 696 crore vs Rs 825 crore
Ebitda fell 3.2% at Rs 96 crore vs Rs 99 crore
Margin at 13.8% vs 12%
JLR UK sales up 11% at 6,121 units
Jaguar UK sales up 1% at 1,058 units
Land Rover UK sales up 13% at 5,063 units
Source: SMMT
Cera Sanitaryware's board approved buyback of shares up to Rs 130 crore
The company is to buy back 0.83% equity at Rs 12,000 per share.
Source: Exchange filing
Sobha Ltd.'s IT infrastructure was targeted by ransomware attack yesterday.
The company's management initiated necessary precautions to mitigate impact of cyber security incident.
Technical team took necessary precautions to retrieve & restore the systems.
The company did not find any material impact on the operations due to cyber security incident.
Source: Exchange filing
Insolation Energy Ltd.'s arm signed a memorandum of understanding with Ganesh Decor India for development of solar power project worth Rs 118 crore
The company received a Letter of Award worth Rs 24.4 crore by Jaipur Vidyut Vitaran Nigam for development of solar power project.
Source: Exchange filing
The S&P 500 Futures declined 3.26% to a low of 5,201.00 on Monday. It was trading 2.79% to 5,266.00 as of 12:09 p.m.
Source: Bloomberg
Orissa Bengal Carrier is in pact with Vedanta for transportation of around 15,000 metric tons of materials.
Source: Exchange filing
Jash Engineering Ltd.'s July consolidated order stands at Rs 107 crore.
Source: Exchange filing
Equity markets are reacting to economic weakness, highlighted by disappointing earnings from a few U.S. consumer-focused companies. It's crucial to monitor these developments closely in the coming months.
Source: Trideep Bhattacharya, president and chief investment officer, Equities, Edelweiss Asset Management Limited
TIL Ltd. has signed a pact with Snorkel Europe to become official sales and service partner for multiple locations.
Source: Exchange filing
Volume and value growth has been same around 6-6.5%
Rural demand picking up; 28.2 lakh direct distribution touch points
Expanded to 30,000 rural distribution points
Rural outperformed urban performance by 1.25 times
We are not interested in B2B business
Nepal business is doing well now closely at 170 crore
Continues to target 2% cost efficiencies every year
Amid high trading volumes, Zerodha users reported glitches on platform
This is the third time the app faced glitches in last 3 months
Many took to X, formerly known as Twitter, to express their concern
In response, Zerodha's official handle stated that their systems were functioning properly
They suggested that the issues might be related to users' connectivity.
They meanwhile asked the users to message them about the details of the issue
The rupee weakened 7 paise to 83.82 against the US dollar on Monday.
It closed at 83.75 a dollar on Friday.
Source: Bloomberg
Companies borrowed in yen to take currency depreciation advantage and interest advantage
Advantage could be to the tune of 400-500 bps
Some of these loans were not hedged or hedges through partial options.
Unhedged positions could take significant hit
Impact could be worse off for companies with imports from Japan.
Source: Forex traders
Manappuram Finance Ltd. is to consider fund raising via non-convertible debentures on Aug 8.
Source: Exchange filing
Market breadth was skewed in favour of sellers. Around 2,872 stocks declined, 385 stocks advanced, and 132 stocks remained unchanged on BSE.
The NSE Nifty 50 was trading 1.68% lower at 24,302.85, and the BSE Sensex fell 2.96% to 78,588.19.
The yield on the 10-year bond declined 3 bps lower to 6.86%.
It closed at 6.89% on Friday.
Source: Bloomberg
Rupee Opens At Record Low Amid Unwinding Of Yen Carry Trades
Profit Explains: Here's How Yen's Appreciation Is Affecting Carry Trade
July total cargo up 9.5% at 37.3 MMT YoY
Source: Exchange Filing
We have unambiguous evidence of a weakening in the US labour market
This is at a time when inflation is above the Federal Reserve’s 2% target
Money markets are discounting 116 bps of easing by the end of this year
Versus expectation of 86 bps before the payroll data
The headline increase of 114,000 in July was the second lowest since December 2020
Government and healthcare and social assistance sectors increased by 81,000 which accounted for 71%
The unemployment level is highest level since October 2021
Risk of US economic downturn has risen materially,
The excess savings from pandemic has been finally spent
Interest rate cuts are not necessarily positive for US equities
The Indian stock market is much more resilient in the face of a US downturn
Because India’s stock market has been driven by domestic money, whereas the opposite is in Japan
Maintains 'reduce' on Hindustan Zinc at Rs 339 target implying 47% downside
Growth in Q1FY25 EBITDA on higher zinc, lead and silver prices
Benefit from higher prices partially offset by lower volumes
Cut FY25/26 EBITDA by 4% to factor lower zinc prices in FY25
Expect FY25/26 zinc prices at Rs $2700/2750 per tonne
Expect approval to transfer general reserves to retained earnings to result in additional dividend by company
Expect total dividend per share of Rs 40 per share
July traded volume up 56% YoY at 13.3 bn units
July renewable energy certificates up 405% YoY at 3,150 mn units
July green electricity volume up 259% YoY at 1 bn units
Source: Exchange Filing
Upgrades to 'buy' from reduce with target price of Rs 5,740; upside 15.4%
Reported mixed Q1FY25 results with revenue beating consensus estimates
Multi-year levers of growth such a capex-led growth from Kakinada P-I, opportunity in FY27E due to Rs 700 crore project for undisclosed client, sustained opportunity in Sacubitril/Valsartan beyond FY26, and opportunity in contrast media and peptide/GLP1 fragments
Expect continued ramp-up in Sacubitril/ Valsartan and contrast media business.
Expects revenue/PAT CAGR Of 20%/31% over FY24–27E.
Nuvama
Upgrading Titan to BUY with target of Rs 3,955 (upside 15%)
Next levers of growth would come from the scale up of international segment, Mia, and CaratLane
Titan had outlined a 15% CAGR target for the jewellery segment till FY27
Building in a revenue CAGR of 16.6% in jewellery segment till FY27
Factoring in margins of 12% as guided by management in jewellery
Emkay
Retains buy; target Rs 1,025 vs 950 earlier implying 21% upside
Broadly healthy and in-line PAT
Lower opex with the adhoc wage revision provisions largely behind
Expect the bank to deliver 1.1% RoA/17-19% RoE
Valuing standalone bank at 1.5x Jun-26E ABV and subsidiary/inv at Rs260/share
Gets GST order worth Rs 3.08 crore including interest & penalty from Gujarat State Tax Officer
Source: Exchange Filing
Titan Q1 Results: Profit Falls 5%, Misses Estimates
Ceigall India: The public issue was subscribed to 1.23 times on day 2. The bids were led by qualified institutional investors (0.01 times), non-institutional investors (1.75 times), retail investors (1.65 times) and reserved for employees (5.47 times).
Ola Electric Mobility: The public issue was subscribed to 0.35 times on day 1. The bids were led retail investors (1.57 times) and reserved for employees (4.88 times), non-institutional investors (0.2 times).
Netweb Tech India: Navin Lodha sold 4.1 lakh shares (0.72%) at Rs 2,232.1 apiece, Niraj Lodha sold 4.1 lakh shares (0.72%) at Rs 2,232.1 apiece and Sanjay Lodha sold 8.21 lakh shares (1.45%) at Rs 2,232.1 apiece. Vivek Lodha also offloaded 4.1 lakh shares (0.72%) at Rs 2,232.1 apiece. On the other hand, ICICI Prudential Mutual Fund bought 10.75 lakh shares (1.9%) at Rs 2,232.1 apiece, Citigroup Global Markets Mauritius Pvt. - Odi bought 4.48 lakh shares (0.79%) at Rs 2,232.1 apiece and Societe Generale bought 2.73 lakh shares (0.48%) and among others at Rs 2,232.1 apiece.
Netweb Tech: Citigroup, Societe Generale Among Buyers After Promoters Pare Stake
Cabinet Approves Rs 5,792-Crore Investment In SJVN's Nepal Hydro Project
Avanti Feeds, BEML, Bharti Airtel, Bharti Hexacom, BLS International, Brigade Enterprises, Century Plyboards, Deepak Nitrite, Devani International, GSFC, HG Infra Engineering, Honeywell Automation, Marico, Motherson Sumi Wiring India, Oil & Natural Gas Corp, Orient Cement, Sandur Manganese and Iron Ores, Schneider Electric Infrastructure, Syrma SGS Technology, Tata Chemicals, Triveni Turbine, Vijaya Diagnostic Centre, V-Mart Retail, VRL Logistics.
Britannia Industries Q1 Results: Profit Rises 11%, Meets Estimates
Trade Setup Aug. 5: Nifty 50 Pauses Record Run, Analysts See Short-Term Consolidation