Sensex, Nifty End 1% Higher; Metals Outperform Again

Indian equity markets held on to gains to end the weekly options expiry session on a strong note.

The S&P BSE Sensex ended 0.96% higher at 38,025 while the NSE Nifty 50 index closed 0.9% higher at 11,200.

Nifty I.T. was the top sectoral gainer in today's session, ending with gains of 2%.

Metal stocks outperformed yet again. The metal index gained for the fifth straight day today. Gains were led by Tata Steel, which also was the top performer on the Nifty 50 index, ending with gains of close to 4%. The index has now gained in eight out of the last nine trading sessions.

Other indices like FMCG, Pharma and Realty saw gains between 1 to 1.5% in today's session.

The PSU bank index was the only sectoral laggard, ending 0.3% lower.

Broader markets saw divergent trends today. The midcap index ended 1.3% higher while the smallcap index gained 0.3%.

India Volatility Index ended 1.8% lower at 23.14.

Market breadth ended in favour of the gainers. 1,120 stocks on the NSE ended with gains while 703 posted losses.

• Revenue down 57.3% to Rs 197.2 crore
• Net profit down 68% to Rs 38.9 crore
• Ebitda down 53.9% to Rs 77.4 crore
• Ebitda margin at 39.2% from 36.3%
• Sales volumes at 64 mmscm from 145 mmscm
• 979 new PNG home connections during Q1FY21
• Commercial and industrial connections at 4,448
• Volumes impacted by 53% during the quarter due to Covid-19
• All numbers are consolidated and compared on a quarter-on-quarter basis

• Benchmark indices hold on to gains
• Nifty up 0.5% at 11,160
• Sensex up 0.5% at 37,854
• Nifty Bank unchanged at 21,496
• Nifty Midcap index up 0.6%
• Nifty Smallcap index up 0.5%
• India Volatility Index down 0.9% to 23.36
• Nifty Realty and Pharma are the top sectoral gainers; up 1.5% each
• Nifty FMCG, I.T. and Media index gain 1% each
• Nifty Auto remains the top sectoral laggard; down 0.4%
• GAIL is the top Nifty gainer; up 3.2%
• Axis Bank is the top Nifty laggard; down 1.1%
• 1,125 stocks on the NSE trade with gains while 608 decline

• Trading at the highest level since March 2018
• Gains as much as 6.2% to Rs 608.2
• Up for the seventh straight session
• Longest winning streak since September 2018
• Has gained 53% in the last seven trading sessions
• Today's volumes are nearly quadruple its 20-day average
• Stock in overbought territory with Relative Strength Index (RSI) at 90
• Has more than tripled from its 52-week low of Rs 176.2 on March 24, 2020
• All three analysts tracking the stock have a buy recommendation
• The stock trades 12.4% above its 12-month consensus price target of Rs 529, implying a negative return potential

• Revenue down 33.7% to Rs 2,873.4 crore
• Net loss of Rs 134.6 crore from net profit of Rs 141.6 crore
• Ebitda down 50.1% to Rs 237.2 crore
• Ebitda margin at 8.26% from 11%
• All numbers are ahead of consensus estimates
• APMEA segment revenue down 42% to Rs 1,818 crore
• European segment revenue down 12% to Rs 1,090 crore
• Revenue from other segments down 60% to Rs 257.5 crore
• Numbers are consolidated and compared on a year-on-year basis

Shares fell as much as 4.2% to Rs 111, snapping a two-day gaining streak. The stock is now off the day's low.

• Revenue down 99.9% to Rs 0.25 crore
• Net loss of Rs 73.6 crore from net profit of Rs 27 crore
• Ebitda down 77.7% to Rs 33.45 crore
• Group has invoked the force majeure clause under various lease agreements for its multiplex premises, contending that rent and CAM charges for the shutdown period on account of Covid-19 are not payable.
• The group has recognised Rs 69.3 crore towards reduction of such rentals and has also not recognised expenses of Rs 20.9 crore towards CAM charges.
• Board approves enabling resolution for fund raising up to Rs 250 crore through the issuance of equity shares or other methods.
• All numbers are consolidated and compared on a year-on-year basis

Shares gained as much as 2.2% to Rs 239.7, on the National Stock Exchange.

One of India's biggest credit bureaus has informed the Reserve Bank of India in getting information from HDFC Bank, India's second largest lender by assets, Bloomberg News reports, citing people familiar with the matter.

The local unit of Experian told the RBI in July that the lender has been late in providing details of its loans, including the repayment status of millions of its retail borrowers, the sources said.

An HDFC Bank spokesperson denied any delays in supplying the information. "HDFC Bank has always been sharing information with the credit bureaus on time, both as a matter of policy and regulatory compliance," the spokesperson said.

The RBI did not respond to an e-mail by Bloomberg News seeking a comment on the story.

Shares of HDFC Bank are off the day's high, currently trading 0.9% higher at Rs 1,037.

The lender has entered into an agreement to purchase up to 4% stake in IDBI Federal Life Insurance from IDBI Bank.

The shares will be purchased at a price not exceeding Rs 27.56 per share. The transaction is subjective to regulatory approvals, the bank said in an exchange filing.

Federal Bank currently holds 26% stake in IDBI Federal Life, making it an associate of the bank.

Federal Bank's stake post the asset purchase will rise to 30%.

Shares of Federal Bank trade 0.3% lower at Rs 52.2.

Shares of IDBI Bank trade 1% higher at Rs 39.35 per share.

The company has informed the exchanges that it has bagged export orders for over 6,000 wheels for the U.S. truck and Caravan trailer market.

The orders are worth $2.09 lakh and will be executed in August from its Chennai plant, the company said in an exchange filing.

Similar orders are expected in times to come from other regular customers as the market regains normalcy.

Shares gained as much as 2.8% to Rs 427.9, post the announcement. The stock is up for the third straight day.

• Revenue in U.S. Dollar terms down 3.4% to $121.2 million
• Revenue up 1% to Rs 914.6 crore
• Net profit down 18.4% to Rs 56.3 crore
• Ebitda down 3.3% to Rs 112.9 crore
• Ebitda margin at 12.3% from 12.9%
• Signed total contract value deals of $179.7 million during the quarter
• Active client count at 356
• Added 1 new customer in the $10 million+ category
• Attrition down 520 basis points to 16.5%
• Days of Sales Outstanding at 60 days, down by 12 days
• All numbers are consolidated and compared on a quarter-on-quarter basis

Shares ended 14.7% higher - their biggest single-day gain since May 2012 at Rs 149.5. The stock ended at the highest level since September 2018.

Shares of the training services company rose after Massachusetts Institute Of Technology acquired further stake in the company on Wednesday through large deals.

MIT acquired 30 lakh shares or 2.12% stake in the company at Rs 96.75 per share, as per data available on the exchanges.

As per the shareholding pattern for the quarter ending June, MIT had 1.87% stake in the company.

The current purchase raised its stake in NIIT Ltd. to 3.99%.

Shares gained as much as 5.7% to Rs 102 and are up for the second straight day. The stock trades at the highest level in five months.

• Benchmark indices hold on to gains
• Nifty up 0.6% at 11,162
• Sensex up 0.55% at 37,855
• Nifty Bank up 0.3% at 21,570
• Nifty Midcap index up 0.8%
• Nifty Smallcap index up 0.7%
• India Volatility Index little changed at 23.53
• Nifty I.T., Nifty Media and Nifty Realty gain between 1-1.5%
• Nifty Pharma is the other sectoral gainer; up 0.8%
• Nifty Auto is the only sectoral laggard; down 0.4%
• Zee Entertainment is the top Nifty gainer; up 4.4%
• Maruti Suzuki India is the top Nifty laggard; down 1.2%
• Top three Nifty laggards are auto stocks - Maruti, Eicher Motors, M&M
• 1,143 stocks on the NSE trade with gains while 496 decline

The currency has opened with gains for the second straight day ahead of the monetary policy decision.

The rupee opened at 74.80 against the U.S. Dollar, as compared to Wednesday's close of 74.94.

Just over half of the 44 economists in a Bloomberg survey expect the MPC to cut interest rates in this policy.

Economists and analysts are divided over the prospective rate action from the MPC owing to a rebound in inflation.

• Among top performers on the Nifty 500 index
• Trades at the highest level since July 2019
• Gains as much as 7.9% to Rs 236
• Up for the third straight day
• Has gained 13% in the last three trading sessions
• Today's volumes are more than eight times higher than its 20-day average
• The stock trades in overbought territory with Relative Strength Index (RSI) at 75
• Has doubled from its 52-week low of Rs 116 on March 13, 2020
• Brokerage firm Citi has raised the price target on the stock to Rs 240 from Rs 205, maintaining its buy rating. It expects a likely upside in its dividend yield which is currently at 8%. It has raised FY21-23 Ebitda estimates by 9-18%.
• 15 out of the 22 analysts tracking the stock have a buy recommendation; 1 sell call
• The stock trades 10.9% above its 12-month consensus price target of Rs 207.7, implying a negative return potential

• Revenue down 20.8% to Rs 825.2 crore
• Net profit up 12.7% to Rs 44.4 crore
• Ebitda down 15.6% to Rs 143.4 crore
• Ebitda margin at 17.4% from 16.3%
• Exceptional loss of Rs 30 crore in the base quarter
• Lower power, fuel and freight costs aid margins
• Further enhancing its WHR power capacity by 10 MW, which is likely to be commissioned during the first half of FY22.
• All numbers are standalone and compared on a year-on-year basis

Shares fell as much as 6% to Rs 280, down for the second straight day.