Stock Market Highlights: Nifty Ends Little Changed, Sensex Closes 150 Points Higher After RBI MPC Holds Repo Rate

• The Nifty 50 closed 9.75 points, or 0.04%, higher at 24,624.65.
• The Sensex gained 152.05 points, or 0.19%, to settle at 78,581 after the RBI kept the repo rate unchanged at 5.25%.

• Bondada Engineering’s consolidated net profit rose 38.2% year-on-year to Rs 52.9 crore, while revenue increased 24% to Rs 692 crore.
• Ebitda grew 20% to Rs 78.1 crore, while the Ebitda margin narrowed to 11.3% from 11.7%.

• Berger Paints shares rose 1.44% to Rs 541.50 after touching an intraday high of Rs 555.
• Q1 net profit increased 20.6% quarter-on-quarter to Rs 404 crore, while revenue rose 25% to Rs 3,584 crore. Ebitda grew 26.1% to Rs 607.5 crore, with the margin expanding to 17% from 16.8%.

The framework permits registered exporters to use an inventory-led model for e-commerce exports, following changes to the foreign direct investment policy.

Goods held for export cannot be diverted to India’s domestic market, according to the Press Information Bureau.

NBCC (India) has received two construction orders with a combined value of Rs 801 crore, according to an exchange filing.

• FDC shares rose 0.71% to Rs 405.50 after trading between Rs 402.80 and Rs 422.45.
• Q1 net profit increased 9.1% year-on-year to Rs 132 crore, while revenue rose 3.1% to Rs 668 crore. Ebitda grew 2% to Rs 143 crore, while the margin narrowed to 21.4% from 21.6%.

• Whirlpool shares fell 3.85% to Rs 788.90 after touching an intraday low of Rs 781.15.
• Q1 net profit declined 29.5% year-on-year to Rs 103 crore, while revenue rose 12.1% to Rs 2,727 crore. Ebitda fell 33.9% to Rs 139 crore, with the margin narrowing to 5.1% from 8.7%.

• Gateway Distriparks shares fell 6.31% to Rs 55.93 after touching an intraday low of Rs 55.82.
• Q1 net profit declined 18.9% year-on-year to Rs 48.8 crore, while revenue was nearly flat at Rs 549 crore. Ebitda fell 1.9% to Rs 117 crore, with the margin narrowing to 21.3% from 21.7%. The board declared an interim dividend of Rs 1.25 per share.

• Spain’s IBEX 35 rose 0.47%, while Switzerland’s SMI gained 0.31%. The UK’s FTSE 100, Germany’s DAX and France’s CAC 40 advanced between 0.06% and 0.16%.
• The pan-European Stoxx 600 added 0.08%, while Denmark’s OMXC 25 fell 0.97%.

• South Korea’s Kospi rose 3.76%, while Japan’s Nikkei 225 gained 3.66%.
• China’s Shanghai Composite advanced 1.47%, Australia’s ASX 200 added 0.90% and Hong Kong’s Hang Seng Index rose 0.24%.

• Glenmark Pharmaceuticals told NDTV Profit that new product launches are expected to contribute meaningfully to its US business revenue.
• The company expects its US business revenue to reach around $430 million in FY27.
• Glenmark said its Monroe manufacturing facility is expected to start contributing during FY27.
• Management highlighted that the quality of earnings is improving substantially, supported by operational execution and product mix.
• The company said it continues to perform well across geographies and noted that Q1 growth trends were broad-based across markets and business segments.

• Mangalam Worldwide told NDTV Profit that it is focused on building stronger operational efficiencies across its business.
• The company expects revenue growth of 10%-15% in FY27.
• Management said EBITDA growth is likely to exceed revenue growth during the fiscal year.
• The company expects EBITDA margins in the range of 8%-10% for FY27.
• Average capacity utilisation currently stands at around 80%.
• Mangalam Worldwide also said it plans to invest further in capacity expansion to support future growth.

 

• Edelweiss Mutual Fund said the RBI's latest monetary policy outcome was largely in line with expectations, but the Governor's commentary was more reassuring for bond investors than feared.
• The fund house said the central bank appears unwilling to raise rates in the near term unless inflation pressures become more broad-based and persistent.
• According to Edelweiss MF, the combination of a lower inflation forecast and a stronger GDP growth projection gives the RBI greater flexibility to maintain a patient stance.

Impact On Bond Markets

• Edelweiss said the policy outcome reduces the risk of an immediate rate hike and should support the short-to-medium end of the yield curve.
• The fund house noted that the RBI's comfort on underlying inflation and commitment to maintaining adequate liquidity are positive for fixed-income investors.
• However, it cautioned that factors such as global uncertainties, crude oil prices, food inflation risks, elevated global bond yields and currency volatility could still create intermittent volatility in domestic bond markets.

Investment View

• Edelweiss continues to prefer high-quality AAA-rated bonds with maturities of 2-3 years, citing an attractive balance between yield, credit quality and lower interest-rate risk.
• The fund house also favours actively managed bond funds with an average maturity of up to three years for investors with a horizon of at least six months.
• For longer-term investors, it recommends considering target maturity funds with significant exposure to AAA-rated public sector bonds maturing within five years.

Bottom Line

• Edelweiss MF said the RBI has delivered a "dovish but confident pause", with growth remaining resilient and inflation manageable for now.
• The fund house believes the current environment remains favourable for accrual-focused fixed-income strategies, particularly in the 2-3 year maturity segment.

Source: Edelweiss Mutual Fund

• Rane (Madras) reported a consolidated net profit of Rs 30.1 crore in Q1, up 62.4% from Rs 18.5 crore in the year-ago period.
• Revenue increased 18.3% year-on-year to Rs 1,042 crore from Rs 881 crore.
• EBITDA rose 16.2% to Rs 86.8 crore from Rs 74.7 crore a year earlier.
• EBITDA margin stood at 8.3%, compared with 8.5% in the corresponding quarter last year.
• The company reported strong growth in revenue and profitability during the June quarter.

 

• Shilpa Medicare reported a consolidated net profit of Rs 101 crore in Q1, compared with Rs 47 crore in the year-ago period.
• Revenue increased 44.9% year-on-year to Rs 465.8 crore from Rs 321.5 crore.
• EBITDA rose 48.7% to Rs 136.3 crore from Rs 91.6 crore a year earlier.
• EBITDA margin improved to 29.3% from 28.5% in the corresponding quarter last year.
• The company delivered strong growth across revenue, operating profit and net profit during the June quarter.

 

• Sources told NDTV Profit that SEBI has concluded the first round of discussions with Qualified Stock Brokers (QSBs) on the rollout of the Closing Auction Session (CAS) framework.
• The first phase of consultations between the market regulator and QSBs has now been completed.
• During the discussions, brokers sought 2-3 weeks to complete front-end integration and app-related changes required to facilitate smoother retail participation in the closing auction mechanism.
• SEBI has emphasized that all stakeholders should work together to increase retail investor participation in the CAS framework.
• The regulator is focused on improving investor awareness, access and participation rather than revisiting the framework itself.

 

• China said it will impose tighter restrictions on the export of items related to unmanned aerial vehicles (UAVs) to the United States, according to Bloomberg.
• The move is part of Beijing's broader response to trade and technology restrictions imposed by Washington.
• China urged the US to return to what it called the "right track" for resolving bilateral issues and called for the immediate withdrawal of the relevant measures.
• Beijing warned that it would take additional countermeasures if the US continues with its curbs and restrictions.
• The latest development signals continued tensions between the US and China over technology, trade and national security-related sectors.

Tips Music has approved a share buyback worth Rs 44.5 crore, according to company disclosures

• Shares of Protean eGov Technologies fell about 6% after the company reported a weak set of Q1 earnings, with trading volumes running at nearly 5 times the average.
• The company reported a net profit of Rs 5.9 crore, down 75.4% from Rs 23.9 crore a year earlier.
• Revenue rose 19% year-on-year to Rs 251 crore from Rs 211 crore, but profitability came under pressure.
• EBITDA declined 24.3% to Rs 12.4 crore from Rs 16.4 crore, while EBITDA margin narrowed to 4.9% from 7.8%.

Why Is The Stock Under Pressure?

• Weak Q1 profitability despite revenue growth.
• Around Rs 18 crore of upfront investments impacted earnings.
• Higher technology, infrastructure and employee costs weighed on margins.
• Increased implementation expenses led to lower operating profitability.

Management Commentary

• Revenue growth is expected to improve as recently awarded projects move into steady-state execution.
• Margin recovery is expected from operating leverage and normalization of upfront implementation costs.
• Higher-margin businesses such as CKYC, DPI-in-a-Box and enterprise solutions are expected to contribute more going forward.
• AI-led initiatives are being deployed to improve productivity and support long-term margin expansion.
• The company is also evaluating acquisition opportunities across the BFSI and technology ecosystem.

 

• Asahi India Glass reported a consolidated net profit of Rs 149 crore in Q1, compared with Rs 56.2 crore in the year-ago period.
• Revenue increased 15% year-on-year to Rs 1,413 crore from Rs 1,229 crore.
• EBITDA surged 68.9% to Rs 325 crore from Rs 192 crore a year earlier.
• EBITDA margin expanded significantly to 23% from 15.7% in the corresponding quarter last year.
• The company delivered strong earnings growth, aided by robust operating performance and margin expansion during the quarter.

 

• Ramco Cements has raised Rs 25.65 crore through its latest non-core asset sale, according to Bloomberg.
• With the latest transaction, the company's total proceeds from non-core asset monetisation have reached Rs 1,106 crore.
• The asset sale programme is part of Ramco Cements' efforts to strengthen its balance sheet and improve financial flexibility.
• Investors will watch for further monetisation initiatives and their impact on the company's leverage profile.

 

• Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said the RBI's decision to keep the repo rate unchanged at 5.25% has reinforced confidence in the Indian rupee by signalling policy stability and confidence in the domestic economy.
• He said the RBI's improved GDP growth forecast of 6.7%, a softer inflation outlook and the recent decline in crude oil prices have supported the rupee, which has strengthened to around 95.20-95.08 against the US dollar.
• Trivedi noted that sustained foreign institutional investor inflows, lower crude prices and a stable dollar could continue to support the rupee.
• He added that while the bias remains towards appreciation, global geopolitical developments will remain a key factor for currency markets going forward.

Source: LKP Securities

• Ardee Industries told NDTV Profit that it is working to increase domestic sourcing and procurement of batteries amid growing demand in the local market.
• The company said it is witnessing strong traction in the domestic battery segment and is consistently ramping up production capacities to meet demand.
• Management added that it is focused on building a diversified and robust alloys portfolio to strengthen its product offering.
• South-East Asia remains one of the company's key target geographies for international expansion and future growth.

 

• Paisalo Digital reported a consolidated net profit of Rs 61.3 crore in Q1, up 30% from Rs 47.2 crore in the year-ago period.
• Total income increased 19% year-on-year to Rs 260 crore from Rs 219 crore.
• The company reported healthy growth in both earnings and income during the June quarter.
• Paisalo Digital has reappointed Santanu Agarwal as Deputy Managing Director Designate, effective May 6, according to the company's filing.

 

• Rolex Rings reported a Q1 net profit of Rs 60.1 crore, up 22.4% from Rs 49.1 crore in the year-ago period.
• Revenue increased 4.4% year-on-year to Rs 304 crore from Rs 292 crore.
• EBITDA rose 11.5% to Rs 68.7 crore from Rs 61.6 crore a year earlier.
• EBITDA margin improved to 22.6% from 21.1% in the corresponding quarter last year, indicating stronger operating efficiency.
• The company reported healthy profit growth supported by margin expansion during the quarter.

 

• Apollo Microsystems said it has secured orders worth Rs 213 crore from the Defence Research and Development Organisation (DRDO), defence public sector undertakings and private sector companies, according to an exchange filing.
• The orders are related to the company's defence and aerospace business.
• The order wins strengthen Apollo Microsystems' order book and reinforce its presence in the domestic defence ecosystem.

 

• Adani Power said it has received approval from the National Company Law Tribunal (NCLT) for the merger of nine wholly-owned subsidiaries with the company, according to an exchange filing.
• The merger is aimed at simplifying the group's corporate structure and consolidating operations under a single entity.
• The company disclosed the NCLT approval through a regulatory filing.

 

• Aadhar Housing Finance reported a strong Q1 performance, with net profit rising 19% year-on-year to Rs 282 crore from Rs 237 crore. NII grew 19.4% to Rs 617 crore, while total income increased 17.1% to Rs 997 crore.
• Assets under management (AUM) rose 18.2% to Rs 31,364 crore, while disbursements grew 2.9% to Rs 2,035 crore.
• Operating income increased 19.1% to Rs 395 crore, reflecting healthy business momentum.

Asset Quality & Margins

• Gross NPA stood at 1.31% versus 1.06% a year ago.
• Stage 2 assets remained stable at 3.3%, while collection efficiency was strong at 99%.
• The company maintained spreads at 5.8% despite a 15-basis-point RPLR cut implemented in February 2026.
• Balance transfer-out levels declined to 5%, among the lowest seen in the last 8-10 quarters.

Management Outlook

• Management remains confident of delivering its medium-term guidance, supported by healthy demand from first-time homebuyers and end-users.
• The company expects emerging-market branches to continue supporting yields, spreads and profitability.
• Aadhar Housing said it remains watchful of West Asia-related developments and monsoon trends but has not broadly tightened underwriting norms.
• Growth in the non-home loan segment was moderated selectively due to external uncertainties.

FY27 Guidance

• AUM growth: Around 20%
• Profit growth: Around 20%
• FY27 disbursement growth: 17%-18%
• Disbursement growth over the next three quarters: Above 20%
• Spread guidance: Above 5.5%
• FY27-end GNPA: Around 1.1%
• Credit cost: 23-25 bps
• Medium-term RoE: Around 17%

Key Monitorables

• Recovery in non-home loan growth.
• Impact of geopolitical and monsoon developments on borrower cash flows.
• Expansion of 45-50 branches during FY27.
• AI-led initiatives in underwriting, productivity and collections.

 

• Paisalo Digital shares rose 1.56% to Rs 72.22 after trading between Rs 70.27 and Rs 74.99.
• Consolidated net profit increased 30% year-on-year to Rs 61.3 crore, while total income rose 19% to Rs 260 crore. The company reappointed Santanu Agarwal as deputy managing director-designate from May 6.


 

• JTL Industries shares fell 0.87% to Rs 78.17 after trading between Rs 77.50 and Rs 80.45.
• Q1 net profit rose 99.4% year-on-year to Rs 32.6 crore, while revenue increased 32.7% to Rs 722 crore. Ebitda rose to Rs 58.7 crore from Rs 23.4 crore, with the margin expanding to 8.1% from 4.3%.


 

• Omnitech Engineering shares gained 11.06% to Rs 678 after rising as much as 14.6% to Rs 699.65.
• Q1 net profit rose to Rs 29.7 crore from Rs 5.2 crore a year earlier, while revenue increased 61.5% to Rs 167 crore. Ebitda grew 90.7% to Rs 50.6 crore, with the margin expanding to 30.4% from 25.7%.


 

• Alembic Pharmaceuticals told NDTV Profit that new product launches and higher volumes in the US business supported Q1 growth.
• The company said execution was broad-based and margins have improved over the past year.

• RBI Governor Sanjay Malhotra said banking system liquidity may remain in surplus for a short period and could peak around September.
• He expects regular funding requirements to absorb the surplus over time. Malhotra added that the FCNR(B) scheme has met its objectives.

• RBI Governor Sanjay Malhotra said the central bank will seek to ensure orderly movement in the rupee and intervene in the currency market only during excess volatility. He said the rupee could strengthen further.
• Malhotra said there is no proposal to close the FCNR(B) scheme prematurely. He added that the RBI does not want to introduce volatility into the policy rate.

• RBI Governor Sanjay Malhotra said the current policy rate is appropriate given the growth and inflation trends, with several uncertainties yet to play out.
• Malhotra said the central bank will continue to focus on headline inflation and seek to align it with the target over the medium term.

• C.E. Info Systems shares extended losses for a second session, with trading volume at twice the 20-day average, Bloomberg data showed. The stock has fallen 9% in five days and 40% over the past 12 months.
• JM Financial downgraded the stock to ‘Reduce’ from ‘Add’ and set a target price of Rs 1,040, implying an 8.7% decline from the last traded price.

Tamil Nadu allocated Rs 812 crore for a gold coin and silk saree scheme, Rs 560 crore for gold rings for newborns and Rs 2,000 crore for laptops for college students, PTI reported.

The state also set aside Rs 300 crore for school modernisation and Rs 125 crore for residential schools. The government said it is taking steps to address the state’s financial position, with outstanding debt at about Rs 10 lakh crore.

• About 13.4 lakh Reliance Industries shares changed hands through a block deal, Bloomberg reported.
• The buyers and sellers were not immediately known.

• Saugata Basuray of Castrol India told NDTV Profit that the company may raise prices if volatility continues beyond Q3FY27.
• The company expects volatility to persist during Q3 and is monitoring demand trends from Q2 onwards.

SpiceJet shares rose 2.74%, while InterGlobe Aviation gained 0.95%.

• Deepak Agrawal, CIO-Debt at Kotak Mahindra AMC, said the RBI’s decision to retain the repo rate at 5.25% and maintain a neutral stance was in line with expectations. He said the policy carried a mildly dovish tone, with the FY27 inflation forecast at 5% and GDP growth projected at 6.7%.
• Agrawal said the policy supported bonds, with the 10-year government bond yield falling about 3 basis points to 6.78% after the announcement.

Shashwat Singh of Bajaj Broking said the RBI’s decision to retain the repo rate at 5.25% and maintain a neutral stance reflects supply-side inflation risks and resilient economic growth.

Singh said the RBI expects FY27 GDP growth at 6.7% and CPI inflation at 5%. The central bank will monitor fuel and food prices, monsoon trends and global risks before taking further policy action.

• Rajan Luthra, CFO of Action Construction Equipment, said the RBI’s decision to retain the repo rate at 5.25% provides financing predictability and supports investment and project execution in the construction equipment sector.
• He said continued government spending on infrastructure and capital expenditure will support economic growth.

• Rahul Singla, director at MAPSKO Group, said the RBI’s decision to retain the repo rate at 5.25% supports confidence in real estate as a long-term investment.
• He said stable rates provide developers with financial visibility and liquidity for planning and executing projects.

• Sandeep Agarwal, executive director for finance and group CFO at Elan Group, said the RBI’s decision to retain the repo rate at 5.25% provides stability for long-term investment decisions.
• He said stable interest rates support buyer confidence and the outlook for housing projects across segments.

• HSBC India Services PMI declined to 53.3 in July from 57.4 in June, marking its lowest level since February 2022.
• The Composite PMI fell to 54.3 from 57.1, its lowest reading since March 2022.

• SEBI believes wider participation in CAS will help reduce market volatility over time. The regulator has no immediate plans to change the existing framework.
• SEBI considers the current design and technical architecture robust and expects the mechanism to stabilise as participation increases.

• Bank of Baroda rose 1.12%, while Canara Bank, IndusInd Bank, State Bank of India and Punjab National Bank gained between 0.31% and 0.78%.
• AU Small Finance Bank fell 1.33%, followed by Federal Bank at 1.31%. Axis Bank, Kotak Mahindra Bank and IDFC First Bank also traded lower.

• Nifty Bank fell 0.43% to 57,659.65 after the RBI kept the repo rate unchanged at 5.25%.
• The index touched an intraday low of 57,603.95, compared with its previous close of 57,907.20.


 

RBI Governor Sanjay Malhotra said higher fuel costs will lift headline inflation in the near term, with inflation expected to peak in Q3 before moderating. The MPC requires greater clarity on inflation trends and retained its neutral policy stance.

Malhotra said domestic demand continues to support growth, though manufacturing may face cost pressures and trade uncertainty persists. The bank rate and standing deposit facility rate will remain at 5.5%.

The RBI expects CPI inflation at 5% in FY27. It projected inflation at 5.3% in Q1FY28.

• The RBI raised its Q2FY27 CPI inflation forecast to 4.7% from 4.4% and its Q3 estimate to 5.9% from 5.2%.
• The central bank expects Q4FY27 inflation at 5.5% and core inflation at 4.3% for FY27.

• The RBI raised its Q1FY27 growth estimate to 7% from 6.8% but cut its Q2 projection to 6.4% from 6.7%.
• The central bank lowered its Q3 forecast to 6.5% from 7% and expects Q4 growth at 6.8%. It retained the full-year FY27 growth forecast at 6.7%.

RBI Governor Sanjay Malhotra said renewed geopolitical tensions are increasing energy price volatility, though supply-side pressures have eased since June 2026.

The governor said India’s economy performed better than expected in Q1 and early corporate results showed resilience. Agricultural prospects, however, remain clouded by the southwest monsoon.

The Nifty 50 traded little changed at 24,615.75 after the RBI kept the repo rate unchanged at 5.25%. The index had touched a high of 24,677.60. The Sensex traded 0.45% higher at 78,779.74, below its day’s high of 79,055.38.

The Reserve Bank of India’s Monetary Policy Committee kept the repo rate unchanged at 5.25%.

• Manipal Health listed at Rs 652 on the NSE and Rs 655 on the BSE, compared with its issue price of Rs 590.
• The listings represent premiums of 10.5% and 11%, respectively.

RBI Governor Sanjay Malhotra will shortly announce the Monetary Policy Committee’s decision. Interest rates, the policy stance and the central bank’s inflation assessment will remain in focus.

Catch all the live updates here.

Panacea Biotec has received an order worth Rs 78.2 crore from UNICEF for the supply of bivalent oral polio vaccine, according to an exchange filing.

• Richard Harris of Port Shelter Investment told NDTV Profit that debt levels are rising across markets amid investor interest in artificial intelligence and SpaceX.
• Harris expects SpaceX valuations to rise further but sees possible competition from Amazon, which plans to deploy more than 3,000 satellites.

• Ola Electric has signed a memorandum of understanding with Axis Energy to deploy 20 GWh of battery energy storage systems by 2032.
• The agreement marks the first partnership under Ola Mahashakti, according to an exchange filing.

Bank Nifty August futures rose 0.64% to 58,083.80 as open interest declined, indicating short covering ahead of the RBI’s policy decision. Similar positioning was seen in Axis Bank, Bank of Baroda, Bank of India and Bandhan Bank futures.

HDFC Bank moved against the trend, with its August futures declining as open interest increased, indicating fresh short positions. Bank Nifty options activity was concentrated around the 58,000 strike.

• Bank of Baroda rose 1.45%, while IndusInd Bank, Canara Bank and Punjab National Bank gained between 0.54% and 0.95%.
• Federal Bank fell 0.81%, while AU Small Finance Bank and HDFC Bank declined 0.63% and 0.37%, respectively.


 

• Nifty Bank traded 0.06% lower at 57,874.30 ahead of the RBI Monetary Policy Committee’s decision.
• The index moved between 57,603.95 and 57,925.80 in early trade, compared with its previous close of 57,907.20.


 

• The NSE Nifty 50 rose as much as 0.3% to 24,677.60.
• The BSE Sensex rose as much as 0.8% or 627 points to 79,055.38.
   

• The Nifty 50 rose 54.30 points, or 0.22%, to 24,669.20 in pre-market trade.
• The Sensex gained 626.43 points, or 0.80%, to 79,055.38.

The yield on the benchmark 10-year government bond fell by as much as 3 basis points to 6.77% ahead of the RBI Monetary Policy Committee’s decision.

• Life Insurance Corporation of India is under the futures and options ban for Wednesday's trading session.
• LIC is the sole stock listed under the F&O ban in the supplied morning derivatives setup.

The rupee appreciated by as much as 46 paise to 94.92 against the US dollar at the open, ahead of the RBI Monetary Policy Committee’s decision.

• The Nifty 24,000 strike holds the maximum Put open interest ahead of Wednesday's session.
• Maximum Put OI is at the 24,000 strike.

• The Nifty 24,600 strike holds the maximum Call open interest ahead of Wednesday's session.
• Maximum Call OI is at the 24,600 strike.

• Nifty August futures indicate a weaker derivatives setup ahead of the opening bell.
• Nifty August futures are down 0.39% at 24,552.30, trading at a discount of 63 points.

Ardee Industries' Rs 425.87-crore initial public offering opens for subscription on Aug. 5.

• Total issue size: Rs 425.87 crore
• Fresh issue: 6.04 crore shares aggregating to Rs 320 crore
• Offer for sale: 2 crore shares
• IPO closes on Aug. 7
• Listing scheduled for Aug. 12

Manipal Health Enterprises is scheduled to list on Aug. 5 after its initial public offering was subscribed 5.12 times.

• Upper price band: Rs 590
• Lower price band: Rs 560
• Overall subscription: 5.12 times
• QIB excluding anchor: 8.54 times
• NII: 1.06 times
• Retail: 0.98 times
• Employees: 2.32 times

Uniparts India reported higher revenue, profit and operating earnings in the June quarter.

Uniparts India (Q1, Consolidated YoY)

Revenue at Rs 347 crore versus Rs 274 crore, up 26.9%.
Net profit at Rs 57 crore versus Rs 34 crore, up 64.5%.
EBITDA at Rs 82 crore versus Rs 52 crore, up 56.6%.
EBITDA margin at 23.6% versus 19.1%, up 447 bps.

Rashi Peripherals reported higher profit, revenue and EBITDA in the June quarter, while operating margin narrowed.

Rashi Peripherals (Q1, Consolidated YoY)

Net profit up 67.5% at Rs 102.7 crore versus Rs 61.3 crore.
Revenue up 61.9% at Rs 5,102 crore versus Rs 3,152 crore.
EBITDA up 50% at Rs 155.3 crore versus Rs 103.5 crore.
EBITDA margin at 3% versus 3.3%.

Rashi Peripherals announced a joint venture with Restar Corporation to expand its embedded and semiconductor business.

The agreement with the Japanese technology company adds a corporate trigger alongside Rashi Peripherals' June-quarter earnings.

Avenue Supermarts expanded its retail network with a new store in Uttar Pradesh.

• New store opened at Deva Road, Barabanki
• Total store count reached 506

Morgan Stanley and Macquarie retained their ratings on Nestle India as both highlighted its longer-term opportunity while flagging near-term consumption and industry growth concerns.

Morgan Stanley

• Maintain Equal-weight; target price Rs 1,538
• Focus remains on penetration-led volume growth, innovation, premiumisation, distribution and brand investment
• Macro headwinds could moderate consumption in the near term
• Brand investments will be funded through cost savings and efficiencies
• Management did not provide targets or guidance

Macquarie

• Maintain Neutral; target price Rs 1,575
• Focus remains on penetration and premiumisation
• Sees near-term concerns around food-industry growth
• Sees limited impact on the medium- to long-term outlook given room for penetration gains

Morgan Stanley raised its target price on Dr Agarwal's Health Care after the company reported higher revenue and same-store sales growth.

Morgan Stanley

• Maintain Overweight; target price raised to Rs 576 from Rs 555
• Q1 revenue grew 26% YoY
• Same-store sales grew 16%
• Management expects same-store sales growth to normalise over time
• Brokerage cited premiumisation-led growth, expansion visibility and improving ROCE

NHPC reported higher profit, revenue and operating earnings in the June quarter.

NHPC (Q1, Consolidated YoY)

• Net profit up 2.9% at Rs 1,096 crore versus Rs 1,065 crore.
• Revenue up 18.5% at Rs 3,808 crore versus Rs 3,214 crore.
• EBITDA up 30.6% at Rs 2,352 crore versus Rs 1,802 crore.
• EBITDA margin at 61.8% versus 56.1%.

Multi Commodity Exchange reported lower profit and revenue sequentially in the June quarter, while operating margin declined.

MCX (Q1, Consolidated QoQ)

Net profit down 22% at Rs 413 crore versus Rs 530 crore.
Revenue down 21% at Rs 702 crore versus Rs 889 crore.
EBITDA at Rs 494 crore versus Rs 666 crore.
EBITDA margin at 70.4% versus 74.9%.

Indian Energy Exchange reported higher electricity trading volume in July.

• Traded volume rose 7.7% YoY to 13.53 BU
• Real-time market volume increased 10.2%

• Waaree Clean Energy Solutions incorporated WH Clean Fuels as a wholly owned subsidiary focused on green hydrogen and green ammonia projects.
• The new company becomes a step-down subsidiary of Waaree Energies.

ASK Automotive reported higher revenue, profit and EBITDA in the June quarter, while operating margin narrowed.

ASK Automotive (Q1, Consolidated YoY)

• Net profit up 28.8% at Rs 85 crore versus Rs 66 crore.
• Revenue up 52.4% at Rs 1,358 crore versus Rs 891 crore.
• EBITDA up 34.2% at Rs 160.6 crore versus Rs 119.6 crore.
• EBITDA margin at 11.8% versus 13.4%.

• ASK Automotive commenced commercial production of high-pressure die-cast alloy wheels for two-wheelers on Aug. 4.
• The production start adds a corporate development alongside the company's June-quarter earnings.

Bank of Baroda's Capital Raising Committee will meet on Aug. 7 to consider raising capital through bonds.

• Committee to consider Additional Tier-I and/or Tier-II bonds
• Proposal is part of the previously approved Rs 6,000 crore capital-raising plan

Power Grid Corporation commissioned a transmission project for evacuating renewable power from Rajasthan.

• Project covers the transmission system for evacuation of power from Rajasthan REZ
• Capacity covered under the programme is 20 GW
• Project forms part of Phase-III Part-H

Jupiter Wagons signed a share subscription and shareholders' agreement with Lucchini RS and Simest for an investment in JTRWF.

• Investors to acquire 25% plus one share of JTRWF
• Investment price set at Rs 26 per share
• Transaction value of about €28 million

Persistent Systems shareholders approved the Nagarro acquisition offer along with related financing arrangements.

• Shareholders approved related financing arrangements and corporate guarantee
• Offer document submitted to BaFin for approval and publication

Larsen & Toubro shareholders approved the transfer of the company's realty undertaking to wholly owned subsidiary L&T Realty Properties.

• 99.07% votes cast in favour
• Realty business to be transferred through a slump sale
• Enterprise value of Rs 6,300 crore
• No dilution of shareholder ownership
• L&T Realty has estimated development potential of about 71 million sq. ft.
• Business achieved about Rs 10,000 crore of pre-sales in FY26

Globus Spirits launched a qualified institutional placement on Aug. 4 as part of its fund-raising exercise.

• Floor price set at Rs 883.67 per share
• Company may offer a discount of up to 5% to the floor price

The Enforcement Directorate provisionally attached certain Reliance Infrastructure assets in an alleged Prevention of Money Laundering Act matter.

• Assets attached aggregate Rs 179.66 crore
• Attachment includes the company's shareholding in Reliance Power
• Company said it will take appropriate legal steps to safeguard its interests

Castrol India reported higher profit, revenue and operating earnings sequentially and declared an interim dividend.

Castrol India (Q2, QoQ)

• Net profit up 43.6% at Rs 348 crore versus Rs 242 crore.
• Revenue up 21.1% at Rs 1,871 crore versus Rs 1,545 crore.
• EBITDA up 50% at Rs 494 crore versus Rs 329 crore.
• EBITDA margin at 26.4% versus 21.3%.

• To pay interim dividend of Rs 6.25 per share

PNB Housing Finance reported higher profit and total income in the June quarter.

PNB Housing Finance (Q1, Consolidated YoY)

• Net profit up 4.5% at Rs 557 crore versus Rs 534 crore.
• Total income up 9% at Rs 2,265 crore versus Rs 2,082 crore.

Morgan Stanley retained its positive view on PNB Housing Finance after stronger loan growth offset weaker net interest margin in the June quarter.

Morgan Stanley

• Maintain Overweight; target price Rs 1,405
• Q1 PAT was in line
• Underlying retail disbursement growth was well above estimates
• Excluding an accounting change, loan growth could have been 2 percentage points higher
• NII and NIM missed estimates due to higher leverage and lower investment yield

HFCL's board approved an expansion of its optical fibre and optical fibre cable manufacturing capacities.

• Investment of Rs 400 crore
• Optical fibre capacity to increase to 38.5 million fkm
• Optical fibre cable capacity to increase to 56.36 million fkm
• Expansion targeted for completion by July 2028

Deepak Nitrite reported higher revenue and operating earnings in the June quarter, while EBITDA margin increased from a year earlier.

Deepak Nitrite (Q1, Consolidated YoY)

• Net profit at Rs 345 crore versus Rs 112 crore.
• Revenue up 36.4% at Rs 2,578 crore versus Rs 1,890 crore.
• EBITDA at Rs 540.2 crore versus Rs 189.6 crore.
• EBITDA margin at 21% versus 10%.

Kalyan Jewellers reported higher revenue and profit in the June quarter, while EBITDA margin narrowed.

Kalyan Jewellers (Q1, Consolidated YoY)

• Net profit up 32% at Rs 349 crore versus Rs 264 crore.
• Revenue up 45.7% at Rs 10,589 crore versus Rs 7,268 crore.
• EBITDA up 20.9% at Rs 632.5 crore versus Rs 523.3 crore.
• EBITDA margin at 6% versus 7.2%.

BSE reported higher profit and operating earnings sequentially in the June quarter and announced an additional investment in IIBH.

BSE (Q1, Consolidated QoQ)

• Net profit up 9.7% at Rs 874 crore versus Rs 797 crore.
• Revenue up 0.2% at Rs 1,566 crore versus Rs 1,564 crore.
• EBITDA up 1% at Rs 1,072 crore versus Rs 1,061 crore.
• EBITDA margin at 68.4% versus 67.9%.

• To raise IIBH stake to 20% for Rs 50.5 crore

Paytm saw secondary market transactions as SAIF entities sold shares and several institutional investors bought stock.

• SAIF III Mauritius Company Ltd. sold 97.43 lakh shares
• SAIF Partners India IV Ltd. sold 41.36 lakh shares
• Transactions took place at Rs 1,367.80 per share
• Buyers included NPS Trust, Axis Mutual Fund, ICICI Prudential Life Insurance, Societe Generale, BNP Paribas Financial Markets and Tata Mutual Fund

Meesho saw institutional activity after Peak XV Partners Investments V and Elevation Capital V sold shares at Rs 186 apiece.

• Peak XV Partners Investments V sold 5.24 crore shares
• Elevation Capital V Ltd. sold 5.24 crore shares
• Transactions took place at Rs 186 per share
• Buyers included Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, UTI Mutual Fund, HSBC Mutual Fund, Societe Generale, Fidelity funds and Morgan Stanley Asia Singapore

Adani Power saw a large transaction involving 12.48 crore shares at Rs 210.50 apiece.

• Adani Infra (India) Ltd. bought 12.48 crore shares at Rs 210.50 per share
• Ardour Investment Holding Ltd. sold 12.48 crore shares at Rs 210.50 per share

Adani Power saw a large transaction involving 12.48 crore shares at Rs 210.50 apiece.

• Adani Infra (India) Ltd. bought 12.48 crore shares at Rs 210.50 per share
• Ardour Investment Holding Ltd. sold 12.48 crore shares at Rs 210.50 per share

Marico reported higher profit, revenue and operating earnings in the June quarter.

Marico (Q1, Consolidated YoY)

Net profit up 25% at Rs 630 crore versus Rs 504 crore.
Revenue up 22.9% at Rs 3,957 crore versus Rs 3,221 crore.
EBITDA up 25% at Rs 819 crore versus Rs 655 crore.
EBITDA margin at 20.7% versus 20.3%.

ONGC reported higher profit, revenue and operating earnings sequentially in the June quarter.

ONGC (Q1, QoQ)

Net profit at Rs 17,034 crore versus Rs 6,650 crore.
Revenue up 29.3% at Rs 46,460 crore versus Rs 35,928 crore.
EBITDA at Rs 28,355 crore versus Rs 12,666 crore.
EBITDA margin at 61% versus 35.3%.
Other income at Rs 1,861 crore versus Rs 2,628 crore.
Offshore revenue up 31.6% at Rs 33,337 crore YoY.
Onshore revenue up 24% at Rs 13,123 crore YoY.

Nykaa acquired a majority stake in Aminu Wellness Pvt. Ltd., adding another corporate trigger following its June-quarter results.

• Acquired 51% stake
• Consideration of up to Rs 32 crore

Nykaa reported higher revenue and operating earnings in the June quarter, with EBITDA margin increasing from a year earlier.

Nykaa (Q1, Consolidated YoY)

Net profit at Rs 80 crore versus Rs 23.3 crore.
Revenue up 29% at Rs 2,782 crore versus Rs 2,155 crore.
EBITDA up 67.8% at Rs 236 crore versus Rs 140.7 crore.
EBITDA margin at 8.5% versus 6.5%.

Deepak Nitrite's subsidiary DCTL approved a bisphenol-A project involving an investment of about Rs 2,500 crore.

• Capacity of up to 240 KTA
• Estimated investment of about Rs 2,500 crore
• Project approved on Aug. 4

Bharti Airtel reported its earnings for the June quarter, with profit, revenue and EBITDA increasing sequentially.

Bharti Airtel Q1 Cons

Profit up 11.5% At Rs 8,167 Cr Vs Rs 7,325 Cr QoQ
Revenue up 5.7% At Rs 58,539 Cr Vs Rs 55,383 Cr QoQ
EBITDA up 5.8% At Rs 33,303 Cr Vs Rs 31,492 Cr QoQ
EBITDA Margin At 56.88% Vs 56.86% QoQ
ARPU At Rs 264 Vs Rs 257 QoQ

Pidilite Industries' June-quarter performance drew contrasting views from Jefferies and Macquarie, with both highlighting gross-margin strength but differing on valuation and sustainability.

Jefferies

• Maintain Hold
• Target price: Rs 1,610
• Volume growth was 11% YoY
• Consumer and Bazaar segment volume grew 12%, while B2B grew 7%
• Company raised prices across categories without material volume pushback

Macquarie

• Maintain Underperform
• Target price: Rs 1,350
• Cited gross margin-led Q1 beat
• Highlighted continued strength in Consumer Bazaar volume growth
• Flagged continued weakness in export B2B
• Questioned whether the low-cost inventory-led gross-margin beat can be extrapolated

Morgan Stanley expects India's recent market outperformance to remain supported by improving growth and valuations, while external developments remain the main risk.

Morgan Stanley India Strategy

• Favours domestic cyclicals over defensives and externally facing sectors
• Overweight Financials, Consumer Discretionary and Industrials
• Underweight Energy, Materials, Utilities and Healthcare
• Says IT services could benefit as companies build AI applications and solutions
• Expects high-frequency indicators to maintain positive momentum
• Flags geopolitical tensions and slowing global growth as key external risks

BSE's June-quarter performance prompted Jefferies to marginally raise its target price, though the brokerage expects options activity growth to slow further.

Jefferies

• Maintain Hold
• Target price raised to Rs 3,520 from Rs 3,440
• June-quarter EBITDA excluding SGF was in line
• Transaction charges grew 1% QoQ as options ADTO growth slowed with VIX falling in May and June
• Expects ADTO growth to slow further in Q2
• Flags possible risks to weekly option expiries from CAS
• Management transition remains a key monitorable

Marico's June-quarter performance prompted Jefferies to raise its target price as the brokerage highlighted consistent revenue and profitability growth.

Jefferies

• Maintain Buy
• Target price raised to Rs 1,000 from Rs 960
• Earnings growth accelerated to a multi-quarter high in Q1
• Company aims to reduce the commodity-linked portion of its portfolio in favour of premium offerings
• Management is focusing on fewer, larger bets

Motor insurance companies could draw attention after Jefferies said measures arising from a Supreme Court verdict could improve investment leverage, float income and insurance penetration.

Jefferies

• Estimates 2–5% higher PAT for Go Digit and ICICI Lombard from higher investment leverage and float income
• Sees Go Digit as the larger beneficiary
• Says better compliance could drive a step-up in GWP growth, with 56% of vehicles currently uninsured
• Third-party insurance price increases remain on the table

ONGC's June-quarter performance beat Macquarie's expectations on a crude oil tailwind, though the brokerage flagged weaker volumes and pushed back its expected volume inflection.

Macquarie

• Maintain Outperform
• Target price: Rs 290
• Q1FY27 beat driven by crude tailwind
• Volumes slipped
• Volume inflection deferred to FY28
• Volume ramp-up, capex phasing and dividend guidance remain key monitorables

Nykaa's June-quarter performance drew contrasting brokerage views, with Jefferies raising its target price while Macquarie retained an Underperform rating.

Jefferies

• Maintain Buy
• Target price raised to Rs 400 from Rs 350
• Cited continued user growth, premiumisation and higher average order value in beauty
• Fashion grew more than 50% and reached EBITDA break-even
• House of brands continued to scale while quick delivery expanded its reach

Macquarie

• Maintain Underperform
• Target price: Rs 220
• Q1 EBITDA was marginally ahead of Street expectations
• Cited healthy gross-margin performance in beauty
• Flagged reduced disclosure levels and the switch in own beauty brand disclosures from GMV to net sales value

The government exercised the oversubscription option in Life Insurance Corporation of India's offer for sale, increasing the size of the stake sale after demand from non-retail investors.

• Offer size increased to 82.22 crore shares, representing a 6.5% stake
• Base offer was 31.62 crore shares, representing a 2.5% stake
• Retail investors and employees can bid at Rs 373.10 per share
• Non-retail cut-off price remains Rs 383.10 per share

Bharti Airtel is likely to draw attention after its June-quarter performance prompted Jefferies to raise its target price, while Macquarie and Citi retained their positive ratings.

Jefferies

• Maintain Buy
• Target price raised to Rs 2,360 from Rs 2,350
• Mobile subscribers and ARPU were higher than expected
• Airtel Business and Africa posted strong growth, while free cash flow generation was a positive surprise
• Expects 14%/28% CAGRs in EBITDA/EPS over FY27-29

Macquarie

• Maintain Outperform
• Target price: Rs 2,220
• Subscriber additions improved and ARPU was better than expected
• EBITDA margin gains reflected operating leverage from revenue growth

Citi

• Maintain Buy
• Target price: Rs 2,190
• Net debt declined on contained capex and strong free cash flow
• Sees a robust growth outlook, deleveraging and market-share gains

The Reserve Bank of India is expected to assess whether higher fuel costs linked to the Middle East conflict spread to broader prices. Inflation remains within the central bank’s 2-6% tolerance range.

The Reserve Bank of India is expected to keep the repo rate unchanged at 5.25% and retain its neutral policy stance, according to a Bloomberg survey of economists.

• Brent crude traded below $80 a barrel, while West Texas Intermediate hovered near $76 after falling more than 10% over the previous two sessions.
• Prices remained lower on expectations that an agreement could reopen the Strait of Hormuz and release oil supplies held up in the Persian Gulf.

• Dow futures rose 90 points, or 0.2%, while S&P 500 futures edged 0.1% higher.
• Nasdaq-100 futures declined 0.2%.

• The S&P 500 rose 1.8% and closed above 7,700 for the first time, while the Dow Jones Industrial Average gained more than 900 points. Both indices ended at record highs.
• Corporate earnings and indications of progress towards a US-Iran agreement supported sentiment.

• South Korea’s Kospi surged 4.69%, Japan’s Nikkei 225 climbed 3.13% and Australia’s ASX 200 gained 0.25%.
• Investors tracked the prospect of a US-Iran agreement that could restore traffic through the Strait of Hormuz.

GIFT Nifty traded at 24,744.50, above the Nifty 50’s Tuesday close of 24,614.90, indicating a higher opening for the domestic benchmark.