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-Rupee weakened 12 paise to close at a record low of 83.96 against the US dollar.
-It closed at 83.84 on Monday.
Source: Bloomberg
Nifty, Sensex fall for third consecutive session
Nifty hit intraday low of 23,960.40
Sensex hit intraday low of 78,496.57
Nifty closed at its lowest level since June 28
Sensex closed at its lowest level since June 25
Broader indices underperformed; Nifty Midcap 100 ended 0.61% lower and Nifty Smallcap 250 ended 0.39% down
Among sectoral indices, Nifty Realty was the top gainer and Nifty PSU Bank fell the most
Nifty fell 63.05 points to end at 23992.55 and Sensex fell 166.33 points to end at 78593.07
Britannia and JSW Steel were top Nifty gainers; HDFC Life and SBI Life were top losers
Net profit at Rs 169 crore vs Rs 83 crore
Revenue up 28.7% at Rs 2,865 crore vs Rs 2,226 crore
EBITDA up 64.1% at Rs 238 crore vs Rs 145 crore
Margin at 8.3% vs 6.5%
Net profit up 17.8% at Rs 86 crore vs Rs 73 crore
Revenue up 13.3% at Rs 1,281 crore vs Rs 1,131 crore
EBITDA up 14.3% at Rs 184 crore vs Rs 161 crore
Margin at 14.4% vs 14.2%
Net profit up 49% at Rs 301 crore vs Rs 202 crore
Revenue up 0.8% at Rs 1,695 crore vs Rs 1,682 crore
EBITDA up 39% at Rs 449 crore vs Rs 323 crore
Margin at 26.5% vs 19.2%
Diabetic foot ulcer drug Diulcus gets CDSCO approval for Indian markets
Source: Exchange Filing
Revenue up 6.02% at Rs 35764 crore vs Rs 33733 crore
Ebitda up 55.68% at Rs 9995 crore vs Rs 6420 crore
Margin at 27.94% vs 19.03% up 891 bps
Net profit up 54.02% at Rs 5095 crore vs Rs 3308 crore
Higher profit due to tax write back of Rs 735 crore in Q1FY25
Gets order from Integrum Energy for 201 MW equipment supply
Source: Exchange filing
Govt appoints SP Mohanty as director on board in place of Rajesh Kumar with immediate effect until further notice
Source: Exchange filing
Net profit down 51.4% at Rs 278 crore vs Rs 572 crore
Revenue up 1.7% at Rs 5,124 crore vs Rs 5,036 crore
EBITDA down 1.9% at Rs 927 crore vs Rs 945 crore
Margin at 18.1% vs 18.8%
Net profit down 24.3% at Rs 28 crore vs Rs 37 crore
Revenue up 3.8% at Rs 1,155 crore vs Rs 1,112 crore
EBITDA down 2.1% at Rs 75 crore vs Rs 77 crore
Margin at 6.5% vs 6.9%
Revenue down 2.6% at Rs 728 crore vs Rs 747 crore
Net profit at Rs 236 crore vs loss of Rs 30 crore
EBITDA at Rs 113 crore vs EBITDA loss of Rs 91 crore
Margin at 15.5%
Net profit at Rs 88 crore vs Rs 24 crore
Margin at 20.9% vs 8.6%
EBITDA at Rs 111 crore vs Rs 26 crore
Revenue up 75.8% at Rs 531 crore vs Rs 302 crore
Net profit up 20.8% at Rs 223 crore vs Rs 184 crore
Revenue up 26.2% at Rs 5,528 crore vs Rs 4,380 crore
EBITDA up 16.8% at Rs 478 crore vs Rs 409 crore
Margin at 8.6% vs 9.3%
Rupee weakened 11 paise to a record low of 83.95 against the US dollar.
It closed at 83.84 on Monday.
Source: Bloomberg
Private banking arm of Nuvama group starts operations in Dubai International Financial Centre
Source: Exchange Filing
Net profit up 21.6% at Rs 157 crore vs Rs 129 crore
Revenue down 0.3% at Rs 1,047 crore vs Rs 1,050 crore
EBITDA up 18.8% at Rs 205 crore vs Rs 173 crore
Margin at 19.6% vs 16.5%
Arm acquires US-based DeltiasGaming.Com for Rs 7.5 crore
Source: Exchange Filing
Approves buyback of 5.4 lakh shares at Rs 675/share
Source: Exchange Filing
In pact with Skanray to advance surgical imaging and healthcare innovation
Source: Exchange Filing
Lists at Rs 725 on NSE vs issue price of Rs 679
Lists at a premium of 6.77% on NSE
Lists at Rs 725 on BSE vs issue price of Rs 679
Lists at a premium of 6.77% on BSE
All 20 sectoral indices on the BSE rose with BSE Industrials leading.
At pre-open, the NSE Nifty 50 was 0.56% higher at 24,189.85, and the BSE Sensex was 0.28% higher at 78,981.97.
The yield on the 10-year bond opened flat at 6.87%.
It closed at 6.86% on Monday.
Source: Bloomberg
Rupee weakened 2 paise to open at a record low of 83.86 against the US dollar.
It closed at 83.84 on Monday.
Source: Bloomberg
Maintains Buy, target of Rs 990, downside of 32%
Revenue/ Ebitda in line
18th consecutive quarter of double digit growth
Growth in recent quarters largely led by organic initiatives (no tariff hike)
Given tariff hike, see sharp growth acceleration
India business expected to sustain 20% Ebitda
FCF to improve with further decline in capex and higher tariffs
Expect Bharti to resume shareholder payout in next 12 months
Co & JV partner get irrigation project worth Rs 318 crore from Maharashtra Govt
Co's share in Maharashtra irrigation project stands at Rs 111 crore
Source: Exchange Filing
Japan MoF, BoJ, FSA to hold 3-way meeting from 3:00 pm Japan Standard Time (11:30 am IST)
Yen weakens slightly after news of BoJ, MoF, FSA meeting
Source: Bloomberg
Remains overweight, target Rs 1280, upside 15.2%
Revenue in line, ahead on Ebitda, miss on Profits
Drop in capex is positive
Net adds moderated, in line with parent Bharti Airtel and Jio
Numbers are less important than commentary on consumer behaviour to tariff hikes
Hexacom trades at 5% discount to Airtel, offers better value
Citi Research
Maintains buy, target Rs1,750, upside: 19.1%
India performance in line
Consolidated performance below estimates because of African currency devaluation
India capex showed signs of moderation, consistent with past mgmt. commentary
This drove improvement in FCF generation along with deleveraging
This has prompted Bharti to defer calling for the balance rights issue amount (75% of Rs210bn)
JP Morgan
Maintain overweight, target price at Rs 1500, upside: 2.1%
Missed on net additions
Surprised positively on India capes stability and Ebitda
Lower capex accelerated India FCF to rise
Revenue growth strong in Homes, weak in Business and DTH
Announced deferment of calling partly paid up shares amid strong FCF
Moderating capex and deleveraging may lead to higher dividend
Maintains 'hold', target revised to Rs 1260 from Rs 1230, upside 10%
Revenue, Ebitda in line, profits miss due to higher depreciation and amortization
Growth outlook is string but high valuations limit upside
Expect 16% Revenue CAGR in FY24-FY27
Expect 20% Ebitda CAGR in FY24-FY27
Retains 'Buy' with target Rs 700, Upside 69%
Posted 7% beat on EBITDA in Q1;Revenue down 2% due to OEM down 11%
Healthy profitability improvement led by subsidiaries
Co guided to improved demand across operations from H2
Full-year consol revenue growth seen at mid-to high single digit
Tyre industry remains in a sweet spot amid multiple tailwinds
Believe Co is still undervalued vs. peers & trades at 9x FY26E PER vs peer average of ~13x
Rising profit pool share & ongoing balance-sheet and return-ratio convergence toward peers
Trim FY25/26E EPS by 5/4% due to revenue miss in Q1, RM pressure
Talks of an imminent recession have gained traction
Unlikely that macroeconomic distress in US becomes a global event in 2025
Major currency impact of a US recession is unlikely
US event is unlikely to disrupt the Indian cycle even on margins or current account
Fundamentals of the economy don’t change even if US were to enter recession
The challenge India sees is internal rather than external
Continue to hold a neutral stance on markets for now
Underweight SMIDs and 23,500 as our year end Nifty target
Will seek bottom-up opportunities through our India and SMID portfolio
Market cap losers from 1st of august to 5th of august:
Nvidia is the biggest loser, loses $216 billion in market cap
Followed by Apple, loses $166 billion in market cap
Microsoft loses $163 billion in market cap
Alphabet loses $143 billion in market cap
Meta loses $55 billion in market cap
Oracle loses $27 billion in market cap
Salesforce loses $14 billion in market cap
IBM loses $6 billion in market cap
July average client funding book up 216.4% YoY at Rs 3,732 crore
July client base at 64.8% YoY at 2.58 crore
July Gross Client Acquisition up 85.7% YoY at 11.4 lakh
Source: Exchange Filing
Gets notice from Haryana Tax Authority for tax demand worth Rs 155 crore including interest & penalty
Source: Exchange Filing
Signs MoU with HUDCO for consultancy projects or services in the infrastructure space
RITES to also provide consultancy to projects being financed by HUDCO
Source: Exchange Filing
Target price Rs 5,300, implying 25% upside
Unveiled its business-class offering (Indigo Stretch)
Plan:
Mumbai Delhi route
Timeline: Mid November
Introductory price: Rs 18,000
New premium offerings include:
New destinations and
Introduction of A321 XLRs/A350s from CY25/CY27
Support to yields over the medium-term, led by premiumization
Retain our earnings estimates
Value at 20x Sep-26E target P/E
Delhi Metro Rail Corp files plea against Delhi Airport Metro Express, whole-time Director, others
Contempt petition filed against DAMEPL for disobedience of directions passed in April 10 judgement
April 10 judgement refers to refund of amounts deposited by DMRC in escrow account
Source: Exchange Filing
Nifty August futures down by 2.5% to 24,102.95 at a premium of 58 points.
Nifty August futures open interest down by 3.63%.
Nifty Bank August futures down by 2.49% to 50,215 at a premium of 123 points.
Nifty Bank August futures open interest up by 13.52%.
Nifty Options August 8 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000.
Bank Nifty Options August 7 Expiry: Maximum Call Open Interest at 52,000 and Maximum Put open interest at 50,000.
Securities in ban period: Aditya Birla Capital, Birlasoft, Chambal Fertilizers, GNFC, Granules, Hindustan copper, India Cements, India Mart, and RBL Bank.
Ex/record Dividend: Grasim Industries, IPCA Laboratories, Usha Martin, TCI Express, LT Foods, West Coast Paper Mills, TD Power Systems.
Ex/record AGM: Grasim Industries, IPCA Laboratories, Usha Martin, TCI Express, West Coast Paper Mills, VA Tech Wabag, Suven Pharmaceuticals, EID Parry India, TD Power Systems.
Moved in short-term Framework: Neuland Laboratories, PCBL, Selan Exploration Technology, TCPL Packaging.
Moved out short-term Framework: Navkar Corporation.
Biocon Facility Gets Inspection Report From US FDA, Voluntary Action Indicated
Eraaya Lifespaces: Share India Securities sold 1.06 lakh shares (0.7%) at Rs 797.89 apiece.
Aavas Financiers: Smallcap World Fund Inc. bought 5.01 lakh shares (0.63%) at Rs 1630 apiece.
Huhtamaki India: Plutus Wealth Management LLP bought 5 lakh shares (0.66%) at Rs 416.49 apiece.
Brainbees Solutions: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 440 to Rs 465 per share. The Rs 4193.73-crore IPO is a combination of a fresh issue of Rs 1,666 crore and the rest of the offer for sale. The company has raised Rs 1,885 crore from anchor investors.
Unicommerce eSolutions: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 102 to Rs 108 per share. The Rs 276.57-crore IPO is entirely an offer for sale. The company has raised Rs 124 crore from anchor investors.
Ceigall India: The public issue was subscribed to 13.78 times on day 3. The bids were led by qualified institutional investors (31.5 times), non-institutional investors (14.42 times), retail investors (3.77 times) and reserved for employees (11.55 times).
Ola Electric Mobility: The public issue was subscribed to 1.06 times on day 2. The bids were led by qualified institutional investors (0.4 times) retail investors (2.87 times) and reserved for employees (8.98 times) and non-institutional investors (1.11 times).
SEBI Approves IPOs Of Bajaj Housing Finance, Four Other Firms
Adani Energy QIP Raises Rs 8,373 Crore For Transmission Assets Investment, Smart Metering
Bharti Airtel Q1 Results: Profit Doubles To Rs 4,717.50 Crore
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