Stock Market Highlights: Nifty Ends Above 24,750, Sensex Ends Nearly 550 Points Higher; IT, Metal Shine

• One MobiKwik told NDTV Profit that it witnessed a dip in payments revenue during the quarter.
• The company said it expects to remain profitable in the coming quarters and has further improved profitability in the latest quarter.
• MobiKwik added that it has now reported its third consecutive profitable quarter.
• The company said it is currently the second-fastest growing third-party UPI application in India.
• Management remains optimistic about sustaining profitability while continuing to expand its digital payments business.

 

• Ather Energy reported a consolidated net loss of Rs 51 crore in Q1, compared with a loss of Rs 178 crore in the year-ago period.
• Revenue surged 88.7% year-on-year to Rs 1,217 crore from Rs 645 crore, reflecting strong growth in business operations.
• EBITDA loss narrowed significantly to Rs 33.4 crore from Rs 134 crore a year earlier.
• The sharp improvement in profitability and operating performance comes alongside robust topline growth during the quarter.

 

• Air India has entered into a codeshare partnership with Azerbaijan Airlines, according to Bloomberg.
• The agreement is expected to expand connectivity options for passengers across the networks of both carriers.
• Codeshare arrangements allow airlines to sell seats on flights operated by partner airlines, providing customers with access to a wider range of destinations.
• The partnership is aimed at strengthening travel links and improving route options between India, Azerbaijan and other international markets.

 

• Bank of Japan data suggests Japanese authorities may have carried out a currency intervention worth approximately 5.3 trillion yen on Friday, according to Bloomberg.
• The implied intervention is viewed as an effort to support the Japanese yen amid heightened volatility in currency markets.
• Market participants closely monitor such operations as they can influence foreign exchange trends across Asia and global markets.
• Japan's Finance Ministry typically confirms intervention details at a later date through official data releases.

 

• JM Financial reported a consolidated net profit of Rs 292 crore in Q1, up 76.5% from Rs 165 crore in the previous quarter.
• Total income increased 26% quarter-on-quarter to Rs 1,225 crore from Rs 969 crore.
• The company delivered strong sequential growth in both income and profitability during the June quarter.

 

• Banks have mobilised $60.54 billion through FCNR(B) deposits till July, according to government data, helping boost forex inflows and system liquidity.
• Total FCNR(B) deposits stood at $32.55 billion as of June 5, indicating a sharp increase over the period.

Bank-wise FCNR(B) Deposit Growth

• SBI: $13.82 billion vs $9.69 billion on June 5

• Bank of Baroda: $3.87 billion vs $2.82 billion

• Punjab National Bank: $1.40 billion vs $430 million

• ICICI Bank: $6.06 billion vs $2.36 billion

• HDFC Bank: $5.42 billion vs $4.01 billion

• Axis Bank: $4.66 billion vs $3.08 billion

• HSBC: $6.26 billion vs $120 million

• The government said the rise in FCNR(B) deposits is expected to support foreign exchange inflows and improve liquidity conditions in the banking system.

Source: Government Data

• NOCIL reported a consolidated net profit of Rs 27.8 crore in Q1, up 60.7% from Rs 17.3 crore in the year-ago period.
• Revenue increased 19.9% year-on-year to Rs 403 crore from Rs 336 crore.
• EBITDA rose 48.8% to Rs 45.2 crore from Rs 30.4 crore a year earlier.
• EBITDA margin expanded to 11.2% from 9% in the corresponding quarter last year, indicating improved operating profitability.
• The company reported strong growth in both revenue and earnings during the June quarter.

 

• Escorts Kubota reported a consolidated net profit of Rs 386 crore in Q1, down 72.4% from Rs 1,397 crore in the year-ago period.
• The sharp decline was largely due to a high base, as Q1 FY26 included profit from discontinued operations of Rs 1,028 crore and a one-time gain of Rs 76 crore.
• Revenue increased 28.3% year-on-year to Rs 3,208 crore from Rs 2,500 crore.
• EBITDA rose 10.4% to Rs 355 crore from Rs 322 crore a year earlier.
• EBITDA margin contracted to 11.1% from 12.9% in the corresponding quarter last year.

 

• Dhanuka Agritech reported a Q1 net profit of Rs 36.3 crore, down 34.6% from Rs 55.5 crore in the year-ago period.
• Revenue declined 12.6% year-on-year to Rs 462 crore from Rs 528 crore.
• EBITDA fell 33.9% to Rs 55 crore from Rs 83.2 crore a year earlier.
• EBITDA margin contracted to 11.9% from 15.7% in the corresponding quarter last year.
• The company also approved an investment of Rs 200 crore to set up a manufacturing unit in Nagpur.

Source: Company Filing

• Computer Age Management Services (CAMS) reported a consolidated net profit of Rs 128 crore in Q1, up 1.3% from Rs 126 crore in the previous quarter.
• Revenue remained largely flat at Rs 395 crore, compared with Rs 395 crore in Q4.
• EBITDA declined 6.4% quarter-on-quarter to Rs 183 crore from Rs 195 crore.
• EBITDA margin contracted to 46.3% from 49.4% in the preceding quarter, indicating softer operating profitability despite stable revenue.

 

• Abhishek Bisen, Head of Fixed Income at Kotak Mahindra AMC, said the RBI is likely to maintain a patient and data-dependent policy stance despite the recent uptick in inflation and ongoing global uncertainties.
• He noted that strong foreign capital inflows, comfortable food grain stocks and tighter financial conditions have reduced the need for an immediate rate hike.
• According to Bisen, while inflation and crude oil prices remain areas of concern, the central bank currently views these pressures as manageable and may prefer to retain policy flexibility until there is clearer evidence of sustained inflationary risks.
• He added that the RBI appears inclined to wait for more data before altering its policy stance, rather than reacting to temporary inflationary pressures.
• Using a cricket analogy, Bisen said the calls for a rate hike may be growing louder, but the RBI is "keeping the finger firmly down" for now.

 

Under the new framework for F&O stocks, normal continuous trading will end at 3:15 PM, followed by a Closing Auction Session (CAS) from 3:15 PM to 3:30 PM.

• During the auction window, buy and sell orders will be matched at a single equilibrium price, which will become the stock's official closing price.
• Cash market trading in non-F&O stocks will continue till 3:30 PM, while equity and index derivatives will close at 3:40 PM.

What Changes?

• The new mechanism is expected to curb last-minute price manipulation in F&O stocks.
• Influencing closing prices for derivatives-linked gains could become significantly more difficult.
• Passive funds and index trackers may benefit from cleaner closing prices and lower tracking errors.
• High-frequency traders and jobbers could see lower trading opportunities during the closing minutes.

Brokerages In Focus

• Analysts expect a negative impact on brokerages such as Angel One, Groww, Motilal Oswal Financial Services (MOSL) and 5Paisa.
• Brokerage revenue could be impacted by around 1.5%-2% due to lower trading activity during the market close.

Source: Market Participants, Analyst Estimates

• Disputed tax demand has reduced by around Rs 16,690 crore since the government increased monetary limits for filing departmental tax appeals, Finance Minister Nirmala Sitharaman informed the Lok Sabha, PTI reported.
• At the Income Tax Appellate Tribunal (ITAT), 443 cases were withdrawn and 11,390 appeals were not filed, leading to an estimated reduction in disputed tax demand of Rs 3,662.82 crore.
• Before the high courts, 4,791 cases were withdrawn and 5,565 appeals were not filed, reducing disputed tax demand by about Rs 9,218.71 crore.
• At the Supreme Court, 744 cases were withdrawn and 534 appeals were not filed, resulting in an estimated reduction of Rs 3,807.15 crore.
• The government had raised monetary thresholds for filing direct tax appeals in Budget 2024-25 to Rs 60 lakh for ITAT, Rs 2 crore for high courts, and Rs 5 crore for the Supreme Court.
• The Finance Minister also highlighted measures aimed at easing compliance, including pre-filled ITRs, updated return filing, faceless assessment and appeal systems, rationalisation of TDS/TCS provisions, and expansion of presumptive taxation schemes.

Source: PTI

• Ethos reported a consolidated net profit of Rs 28.1 crore in Q1, up 47.9% from Rs 19 crore in the year-ago period.
• Revenue increased 33.3% year-on-year to Rs 462 crore from Rs 346 crore.
• EBITDA rose 33.4% to Rs 61.5 crore from Rs 46.1 crore a year earlier.
• EBITDA margin remained unchanged at 13.3% compared with the corresponding quarter last year.
• The company delivered strong growth in both revenue and profitability during the June quarter.

 

• Force Motors reported total sales of 3,770 units in July, up 36.8% from the year-ago period.
• Domestic sales increased 38% year-on-year to 3,738 units, indicating strong demand in the home market.
• Exports declined 42% to 32 units compared with the corresponding month last year.
• The overall growth was driven by robust domestic sales performance, which offset the decline in exports.

 

• VIP Industries has appointed Narayan Saraf as Chief Financial Officer (CFO) with effect from Sept. 1, according to an exchange filing.
• The company said Rahul Poddar has resigned as CFO and will cease to hold the position with effect from Aug. 31.
• The leadership transition was disclosed through a regulatory filing.

 

• HDFC Bank has launched two new savings account variants, 'Max for Seniors' and 'Max for Her', under its flagship Savings Max Account, aimed at senior citizens and women customers.
• The bank said the offerings include customized benefits such as cyber fraud cover, hospitalisation cover of up to Rs 1 lakh, and other segment-specific features.
• HDFC Bank cited government data showing India's senior citizen population could reach 230 million by 2036, accounting for nearly 15% of the population.
• The bank also noted that women currently hold 39.2% of all bank accounts and contribute 39.7% of total deposits in the banking system.
• The new products are designed to address the evolving financial, healthcare and security needs of these customer segments.

Source: HDFC Bank

• The government has proposed making Vehicle-to-Vehicle (V2V) communication systems mandatory for vehicles from Oct. 1, 2028, according to a draft notification.
• Vehicles equipped with V2V systems and manufactured on or after Oct. 1, 2027, will be required to comply with the AIS-230 standard.
• The technology will enable vehicles to exchange real-time data such as speed and location, improving situational awareness on roads.
• V2V systems can provide warnings for potential collisions, sudden braking events, unsafe lane changes and approaching emergency vehicles.
• The government said V2V technology will complement Advanced Driver Assistance Systems (ADAS) and enhance overall road safety.
• Public comments have been invited before the notification is finalised.

 

• The Ministry of Road Transport and Highways has proposed a phased implementation of Vehicle-to-Vehicle (V2V) communication systems through amendments to the Central Motor Vehicles Rules, 1989.
• V2V technology enables vehicles to exchange real-time information such as speed, position, direction and acceleration, helping improve road safety through alerts on collision risks, sudden braking, unsafe lane changes and approaching emergency vehicles.
• The proposed rules state that vehicles in categories L, M and N manufactured on or after Oct. 1, 2027, will need to comply with AIS-230 if they are equipped with V2V systems.
• From Oct. 1, 2028, all newly manufactured vehicles in these categories will be required to be fitted with V2V communication systems compliant with AIS-230.
• The system will use Cellular Vehicle-to-Everything (C-V2X) technology operating in the 5.875 GHz to 5.925 GHz spectrum band, which has been exempted from licensing requirements by the Department of Telecommunications.
• The government said the phased timeline will provide automakers sufficient time to prepare for implementation of the new safety technology.

Source: Draft Notification, Ministry of Road Transport and Highways

• CleanMax Enviro told NDTV Profit that it would prefer to deliver on its existing guidance rather than revise it higher.
• The company is targeting EBITDA of Rs 3,000 crore by FY28.
• Management said overhang related to STU-connected projects is likely to persist for some time.
• Around 85% of the company's EBITDA currently comes from STU-connected projects, highlighting their significance to overall earnings.
• The company reiterated its focus on executing its growth plans while maintaining financial targets.

 

• Mahindra & Mahindra told NDTV Profit that it is among the top three players in the North American high-horsepower tractor market.
• The company plans to launch seven new products in the horsepower segment during FY27.
• M&M said labour shortages are accelerating the mechanisation of the agriculture sector, supporting demand for farm equipment.
• The company expects the overall tractor industry to grow around 5% in FY27.
• Management said the impact of the GST rate cut will be visible in the second half of the fiscal year.
• M&M also highlighted a shift in the festive season timeline from Q2 to Q3, adding that Q2 may not receive any meaningful festive demand benefit.

• US benchmark WTI crude oil futures fell below the $80-per-barrel mark, declining 6.06% to $79.54 per barrel, according to the market data shown.
• The contract was down $5.13 per barrel on the session, reflecting a sharp easing in oil prices.
• During the day, WTI traded in a range of $78.83 to $81.30 per barrel.
• The decline follows a broader pullback in crude prices, with both WTI and Brent retreating from recent highs amid easing supply concerns.

 

• Anawil Wire and Engineering Ltd. has opened its initial public offering (IPO) to raise up to Rs 177.81 crore, PTI reported.
• The IPO has a price band of Rs 257-270 per share and will close on Aug. 5.
• The issue comprises 65.85 lakh equity shares and the company's shares are proposed to be listed on NSE Emerge.
• Anawil manufactures tubular steel windmill towers and operates facilities in Koppal, Karnataka, and Kutch, Gujarat, with a combined annual capacity of 612 windmill towers.
• As of March 2026, the company had an order book of Rs 359.81 crore.

 

• Blue Jet Healthcare reported a Q1 net profit of Rs 78.3 crore, down 14.1% from Rs 91.2 crore in the year-ago period.
• Revenue declined 17.4% year-on-year to Rs 293 crore from Rs 355 crore.
• EBITDA fell 18.9% to Rs 98 crore from Rs 121 crore, while EBITDA margin narrowed to 33.4% from 34.1% a year ago.
• The company has reappointed Akshay Arora as Executive Chairman for a further term of five years, effective from April 2027.
• Blue Jet Healthcare also reappointed Shiven Arora as Managing Director for a period of five years.

 

• Sportking India reported Q1 revenue of Rs 704 crore, up 20.1% from Rs 586 crore a year earlier, driven by improved realisations.

• Net profit surged 123.5% year-on-year to Rs 76 crore from Rs 34 crore.

• EBITDA jumped 89.2% to Rs 132 crore from Rs 70 crore, while EBITDA margin expanded sharply to 18.8% from 11.9%, an increase of 686 basis points.

• The company attributed the strong operational performance to lower financing and energy costs, which improved efficiency and supported margin expansion.

• Geopolitical tensions continued to impact logistics and supply chains during the quarter.

• Production volume stood at 20,120 MT versus 20,900 MT a year ago, while yarn sales volume was 20,492 MT compared with 20,327 MT.

• Management said it remains optimistic on demand, with the upcoming festive season expected to support consumption and order flows.

• The temporary removal of cotton import duty has improved raw material availability and stability.

• Sportking's Odisha greenfield expansion project, which will add 1.5 lakh spindles, is progressing as planned. The company also commissioned a solar power project aimed at reducing energy costs and improving efficiency.

• The stock has gained 7.3% in the last week, 29% over the past month, and 165% year-to-date.

 

• Satin Creditcare Network said its subsidiary Satin Finserv Ltd. has mobilised over Rs 650 crore in funds so far in FY27, according to an exchange filing.
• The fundraising was undertaken through a mix of equity and debt instruments.
• The capital raised is expected to support Satin Finserv's lending operations and growth plans.

 

• Sources told NDTV Profit that Finance Minister Nirmala Sitharaman is likely to move the Taxation and Other Amendment Bill, 2026 in the Lok Sabha either today or on Tuesday.
• The proposed legislation will replace the Income-tax (Amendment) Ordinance, 2026, which had provided an income-tax exemption for foreign investors on investments in government securities.
• Sources said the government may also propose amendments to the Payment and Settlement Systems Act, potentially impacting notified digital payment modes, including provisions related to the levy of charges.
• The Centre is also likely to propose extending the tax exemption available to foreign companies supplying capital goods to Indian contract manufacturers beyond the current five-year period. The exemption was introduced in Budget 2026.
• Tax relaxations for leased data centres operated by Indian companies are also expected to be part of the proposed amendments.

• PNGS Reva told NDTV Profit that it aims to maintain the strong growth momentum seen in Q1, supported by demand trends and expansion initiatives.
• The company said it is focusing on light-weight and studded jewellery categories to drive growth.
• Management plans to launch 15 Exclusive Brand Outlets (EBOs) across Northern India, adding that the expansion could exert some pressure on EBITDA in the near term.
• PNGS Reva is targeting 30-40% growth in established markets and said Akshay Tritiya sales and monsoon demand supported Q1 revenue growth.
• The company expects Q2 to be relatively subdued compared with Q1, while Q3 and Q4 are likely to witness robust growth.

 

• Sun Pharma told NDTV Profit that recent product launches in the US have received a positive response, while revenue growth in the US and other global markets remains healthy.
• The company said its US generics business continues to face global headwinds, with pricing pressure in the segment likely to persist.
• Sun Pharma reported 4.2% year-on-year growth in its generics business in Q1 and said it remains focused on expanding across its four key markets.
• Management said geopolitical tensions related to the Middle East conflict weighed on business during the quarter, though it has not seen any significant supply-related disruptions.
• The company expects to benefit from opportunities linked to the semaglutide launch in South Africa and Brazil.
• Sun Pharma added that it does not foresee any major issues with its supply chain going forward.

 

• UltraTech Cement said it will allot non-convertible debentures (NCDs) worth Rs 5,000 crore on a private placement basis, according to an exchange filing.
• The fundraising will be undertaken through debt instruments issued to eligible investors.
• The company disclosed the proposed NCD allotment through a regulatory filing.

 

• Nuvama Institutional Equities said alumina prices are currently around $50 per tonne higher than the Q1 average of $323 per tonne, while costs are expected to remain largely flat in Q2.
• The brokerage expects aluminium production costs to be marginally higher during the second quarter.
• NALCO has started pre-commissioning activities for its 1 million tonne per annum alumina refinery expansion in June and is expected to commence commercial production by December 2026-end.
• Management has guided for an additional 200,000 tonnes of alumina volume in FY27 from the new refinery.
• Higher alumina prices and incremental volumes from the expansion are expected to be key factors for NALCO's earnings trajectory.

Source: Nuvama

• Greaves Electric Mobility Ltd. (GEML), the electric mobility arm of Greaves Cotton, said its Rs 530 crore rights issue has been fully subscribed by existing shareholders.
• The capital raise was subscribed by shareholders, including Greaves Cotton Ltd. and Abdul Latif Jameel Green Mobility Solutions (ALJ), reflecting continued confidence in the company's growth strategy.
• The company said the fresh capital will be used to support its next phase of growth, including the development of next-generation products, battery management systems, powertrains and new-age technologies.
• GEML said the subscription highlights strong momentum across its electric two-wheeler and three-wheeler businesses and reinforces its focus on India's clean mobility opportunity.

• Sri Lotus Developers reported a consolidated net profit of Rs 45.5 crore in Q1, up 77.7% from Rs 25.6 crore a year earlier.

• Revenue more than doubled to Rs 132 crore from Rs 61.3 crore, while EBITDA rose 63.4% to Rs 48.2 crore from Rs 29.5 crore.

• EBITDA margin stood at 36.4%, compared with 48.1% in the year-ago quarter.

• The company reported strong operating performance, with presales surging 567% year-on-year to Rs 409 crore and collections rising 115% to Rs 150 crore.

• Management attributed the growth to strong demand across premium residential projects and the success of its premium-location strategy in Mumbai.

• Sri Lotus plans six project launches in FY27 with a combined GDV of Rs 5,000-5,500 crore, targeting pre-sales of Rs 1,800-2,000 crore.

• The company expects revenue growth of 55%-60% and PAT growth of 55%-60% during FY27.

• Expansion plans include a 5.5-acre riverfront development in GIFT City with an estimated GDV of around Rs 2,000 crore under an asset-light joint venture model.

• MAS Financial Services told NDTV Profit that it expects AUM growth in the range of 21%-23% in FY27 and aims to surpass its growth guidance for the year.
• The company said US tariff-related concerns had created some pessimism around growth, but it remains focused on navigating macroeconomic headwinds.
• Management said it is closely monitoring sectors such as textiles and FMCG, while deliberately moderating growth in segments like petrol pumps and restaurants to preserve asset quality.
• The company added that energy supply concerns had affected activity in certain businesses, though it expects to see early signs of improvement in customer demand over the next two to three quarters.
• MAS Financial reiterated its Q2 NIM guidance of 8%-8.5% and said it is willing to sacrifice growth if required to maintain asset quality.

 

• Karnataka Bank said it has launched 'KBL Finsurance', a dedicated insurance platform, according to an exchange filing.
• The platform is aimed at providing customers access to a range of insurance products and services through the bank's distribution network.
• The launch is part of the bank's efforts to strengthen its financial services offerings beyond traditional banking products.

 

• UGRO Capital said it recorded its highest-ever monthly disbursement, crossing Rs 1,000 crore in July, according to an exchange filing.
• The milestone reflects continued growth in the company's lending business and MSME financing operations.
• UGRO Capital disclosed the achievement through a regulatory filing.

 

• Muthoot Finance's October futures show the largest open-interest percentage increase on the displayed fresh-shorts screen.
• The contract fell 10.03% while OI surged 890.48%. Its September futures also declined 10.56%, accompanied by a 98.40% increase in open interest.

• Call positions have been reduced at strikes below the main 24,500–24,600 activity zone.
• Call OI at 24,400 declined by about 44,364 contracts, while the dashboard also shows Call unwinding around 24,300.
• At the same time, Put OI increased at both strikes.

• Divi's Laboratories rose 4.38% to 8,514.5 in futures while open interest increased 42.11%.
• AB Capital gained 4.62% with OI up 23.68%, while Ashok Leyland advanced 2.89% alongside a 53.66% OI increase.
• All three feature in the accumulation bucket, indicating fresh long positions.

Nifty Financial Services has recorded a 218.80% increase in total options OI since the previous expiry, the largest percentage rise among the four displayed indices.

The comparable changes are:

• Nifty 50 — 137.37%
• Nifty Mid Select — 46.22%
• Nifty Bank — 26.94%

Nifty Financial Services Call and Put OI have both risen by more than 275%.

• Adani Green Energy clarified during an analyst interaction that its recent deal with Adani Energy Solutions was concluded at tariffs higher than prevailing benchmark rates.
• For solar projects, the average tariff is estimated at Rs 2.70 per kWh, representing a 5.5% premium to benchmark tariffs.
• For wind projects, the average tariff is estimated at Rs 3.93 per kWh, a 9.1% premium to benchmark levels.
• The company expects the transaction to generate return on assets (RoA) of 13-14% and equity internal rate of return (IRR) of 16.5-18%.
• Management said the tariff premium and return metrics underscore the attractiveness of the contracted portfolio.

Source: Analyst Meet

• APL Apollo Tubes management said it is confident of delivering 20% EBITDA growth in FY27, according to comments made during its post-earnings analyst call, as reported by Informist.
• The company is evaluating setting up another manufacturing plant, with Maharashtra and Tamil Nadu being considered as potential locations.
• APL Apollo plans to increase the share of value-added products in total sales to 75-80%, up from the current 55%.
• Management expects Q2 to be better than Q1 in terms of both sales volumes and absolute EBITDA.

Source: Informist

• Combined Nifty Call and Put open interest has reached 1.13 crore contracts, up 137.37% since the previous expiry.
• Put OI stands at 63.44 lakh contracts, above Call OI of 47.90 lakh contracts.
• Nifty has declined 5.30% over the same period.

• Bank Nifty options positioning is concentrated around the 57,500–58,000 zone.
• The 58,000 strike has the largest outstanding Call and Put positions on the displayed chart, while fresh Put additions are prominent at 57,500 and 58,000.
• Call and Put additions are also visible at strikes immediately around this zone.

• MV Electrosystems' IPO was subscribed 51.15 times overall as of 11:24 am on Day 3 of the issue.
• The NII category led demand with subscriptions of 122.75 times.
• The retail portion was subscribed 94.15 times, while the QIB segment was subscribed 1.02 times.

• Juniper Green's IPO was subscribed 1.28 times overall as of 11:21 am on Day 3 of the issue.
• The QIB portion was subscribed 3.84 times, leading demand.
• The retail investor segment was subscribed 29%, while the NII portion saw subscriptions of 15%.

• Motherson futures gained 1.62% to 155.8 while open interest increased 38.10%.
• The contract had open interest of 29 contracts on the displayed trends screen.

Fresh Nifty Put positions are concentrated around the 24,400–24,600 region.

Put OI additions include:

• 24,400 — 96,473 contracts
• 24,450 — 93,583 contracts
• 24,500 — 2.85 lakh contracts
• 24,550 — 2.36 lakh contracts
• 24,600 — 1.55 lakh contracts

MV Electrosystems’ IPO was subscribed 51.15 times as of 11:24 a.m. on the third day of bidding. The non-institutional investor portion was subscribed 122.75 times, retail 94.15 times and the qualified institutional buyer portion 1.02 times.

Juniper Green Energy’s IPO was subscribed 1.28 times as of 11:21 a.m. Qualified institutional buyers led with 3.84 times subscription, while retail and non-institutional portions were subscribed 29% and 15%, respectively.

• MCX October futures declined 1.86% to 2,674.9 while open interest increased 27.50%.
• Open interest stood at 51 contracts in the displayed contract.
• This suggests fresh short positions.

• Fresh Call additions are concentrated at 24,550 and 24,600.
• The two strikes have added about 1.56 lakh and 1.39 lakh Call contracts, respectively, substantially more than most other strikes in the displayed weekly chain.
• The next notable additions are at 24,700, 24,500 and 24,650.

• Nifty Mid Select Put open interest has increased 73.37% since the previous expiry to 31,808 contracts.
• Call OI rose 57.31% to 29,484 contracts, while futures OI increased 1.58% to 16,058 contracts.
• The index itself has risen 11.23% over the period.

• Sun Pharma October futures fell 2.07% to 1,970, while open interest increased 21.28%.
• Open interest stood at 57 contracts on the displayed fresh-shorts screen.
• This suggests fresh short positions.

• The 24,600 strike has recorded sizeable additions on both sides of the Nifty options chain.
• Call OI increased by about 1.39 lakh contracts, while Put OI rose by roughly 1.55 lakh contracts.
• Outstanding Call OI stands at 3.24 lakh contracts, the highest among the displayed strikes.

• BPCL futures gained 1.25% to 329, while open interest increased 33.33%.
• The contract appears alongside HPCL and other stocks on the accumulation screen.

• Put open interest in Nifty Financial Services has increased 325.63% since the previous expiry to 3,056 contracts.
• Call OI also rose sharply, climbing 279.53% to 3,579 contracts.
• Total OI increased 218.80% over the period.

• Sri Lotus Developers’ consolidated net profit rose 77.7% year-on-year to Rs 45.5 crore. Revenue increased to Rs 132 crore from Rs 61.3 crore.
• EBITDA grew 63.4% to Rs 48.2 crore, while the margin narrowed to 36.4% from 48.1%.

• Persistent Systems October futures declined 3.34% to 5,325 while open interest increased 56%.
• Its September contract also appears on the fresh-shorts screen, falling 2.95% as OI increased 14.26%.

• One MobiKwik’s consolidated net profit rose 76.7% quarter-on-quarter to Rs 7.6 crore. Revenue fell 2.5% to Rs 281 crore.
• Reported EBITDA declined 9.8% sequentially to Rs 15.7 crore from Rs 17.4 crore.

• Positioning at the 24,400 strike shows divergent moves between Calls and Puts.
• Call OI declined by about 44,364 contracts, while Put OI increased by about 96,473 contracts.
• Outstanding Put OI stands at around 1.90 lakh contracts at the strike.

• Willie Walsh will assume charge as IndiGo’s chief executive officer and lead the airline’s management and strategic direction, according to a press release. The focus will be on accelerating IndiGo’s global expansion.
• Walsh said IndiGo had built its business over the past two decades and had opportunities ahead.

• Ashok Leyland futures rose 2.89% to 173.12, while open interest increased 53.66%.
• The simultaneous increase in price and OI places the stock among the prominent accumulation names.
• This indicates fresh long positions.

• Call positioning in Bank Nifty is concentrated at the 58,000 strike, which carries the highest Call open interest on the displayed weekly options chart.
• The 57,000 and 57,500 strikes also carry notable Call positions, but remain below the concentration at 58,000.

• Dixon Technologies October futures declined 2.91% to 13,292 while open interest increased 30.21%.
• Open interest stood at 500 contracts on the fresh-shorts dashboard.
• This suggests fresh short positions.

• Put open interest in Nifty has risen 181.99% since the previous expiry, compared with a 108.67% increase in Call OI.
• Total Put OI stands at 63.44 lakh contracts, against Call OI of 47.90 lakh contracts.
• Overall options OI has increased 137.37%.

• Bajaj Finserv futures advanced 1.57% while open interest rose 37.14%.
• The futures contract traded at 2,091.6, with the simultaneous rise in price and OI placing it in the accumulation bucket.
• This indicates fresh long positions.

• Fresh Put writing on the Bank Nifty dashboard is concentrated at the 57,500 strike, which shows the largest positive Put OI change among the displayed strikes.
• The 58,000, 57,700, 57,600 and 57,800 strikes also show notable additions to Put positions.

• Nifty futures open interest has declined 10.38% since the previous expiry to 2.09 lakh contracts.
• The move contrasts with the options market, where Call OI increased 108.67% and Put OI jumped 181.99% over the same period.

• Reliance Industries futures rose 0.54% while open interest increased 17.67%, placing the stock on the accumulation screen.
• The futures contract was at 1,331.2, with open interest at 686 contracts on the displayed trends dashboard.

• The 24,500 strike has seen Put OI increase by about 2.85 lakh contracts, compared with a Call OI addition of about 59,950 contracts.
• Outstanding Put OI at the strike stands at around 3.17 lakh contracts, compared with Call OI of roughly 2 lakh contracts.

• Maruti Suzuki October futures fell 1.32% to 14,100 as open interest increased 48.53%.
• The contract carried 101 open-interest contracts on the dashboard.

• Bank Nifty total open interest has increased 26.94% since the previous expiry to 8.79 lakh contracts.
• Call OI rose 34.02% to 4.14 lakh contracts, while Put OI increased 21.52% to 3.89 lakh contracts.
• Futures OI climbed 19.84% even as Bank Nifty declined 0.72%.

• Both Call and Put writers have added positions at the 24,550 strike.
• Call OI increased by about 1.56 lakh contracts, while Put OI rose by around 2.36 lakh contracts.
• Total outstanding OI stands at roughly 2.05 lakh Calls and 2.41 lakh Puts at the strike.

• GAIL features prominently on the fresh-shorts screen.
• October futures fell 4.36% as OI increased 137.50%, while September futures declined 4.39% alongside a 78.16% increase in open interest.
• This suggests fresh short positions.

• Nifty total options open interest has increased 137.37% since the previous expiry to 1.13 crore contracts, even as the index declined 5.30%.
• Call OI rose 108.67% to 47.90 lakh contracts, while Put OI climbed 181.99% to 63.44 lakh contracts.
• Futures OI, meanwhile, declined 10.38% to 2.09 lakh contracts.

• The 58,000 strike carries the largest Call and Put open-interest concentration visible on the Bank Nifty options dashboard.
• Call OI at the strike is substantially higher than at surrounding levels, while Put positioning is also concentrated at 58,000.
• The strike remains the main options activity zone in the current setup.

India’s HSBC Manufacturing PMI fell to 53.5 in July from 54.2 in June. The July reading was the lowest since August 2021.

• Options activity is concentrated around the 24,500–24,600 area in the current Nifty weekly series.
• The 24,500 strike carries the highest Put OI at 3.17 lakh contracts, while 24,600 has the highest Call OI at 3.24 lakh contracts.
• Fresh additions are also concentrated around these strikes on both sides.

TCS futures fell 7.75% alongside a decline in open interest, putting the IT major in the long-unwinding bucket.

Other stocks appearing on the liquidation screen include:

• BEL
• Bank of Baroda
• Asian Paints
• Oberoi Realty
• 360 ONE
• Vedanta
• IndusInd Bank
• Infosys
• ICICI Bank
• Astral

• Nifty Mid Select has gained 11.23% since the previous expiry, accompanied by a 46.22% rise in total open interest to 77,350 contracts.
• Call OI increased 57.31%, while Put OI rose 73.37%. Futures OI increased 1.58% to 16,058 contracts.

Call writers have added the most positions around the 24,550–24,600 zone in the current weekly series.

Call OI additions stand at about:

• 24,550 — 1.56 lakh contracts
• 24,600 — 1.39 lakh contracts
• 24,700 — 68,332 contracts
• 24,500 — 59,950 contracts
• 24,650 — 59,096 contracts

Divi's Laboratories futures rose 4.38% alongside a 42.11% increase in open interest, placing the stock among the long build-up names.

Other stocks showing accumulation include:

• Tata Motors Passenger Vehicles
• Ashok Leyland
• Motherson
• Bajaj Finserv
• BPCL
• Hindustan Petroleum
• SRF
• AB Capital
• DLF
• Reliance Industries

• Nifty Financial Services options open interest has risen 218.80% since the previous expiry even as the index declined 2.12%.
• Call OI increased 279.53% to 3,579 contracts, while Put OI jumped 325.63% to 3,056 contracts. Futures OI declined 8.66%.

Fresh Put writing is highest at the 24,500 strike, where Put open interest increased by about 2.85 lakh contracts.

Fresh additions are also visible at:

• 24,550 — 2.36 lakh contracts
• 24,600 — 1.55 lakh contracts
• 24,400 — 96,473 contracts
• 24,450 — 93,583 contracts

HDFC Bank futures rose 8.67% even as open interest declined 0.15%, placing the stock in the short-covering bucket.

Policybazaar, Union Bank, Fortis, Tata Elxsi, Amber Enterprises, LTM, SAIL, Blue Star and Kotak Mahindra Bank are among the other stocks on the short-covering screen.

Put positioning remains concentrated at the 24,500 strike, where open interest stands at about 3.17 lakh contracts, the highest in the current weekly series.

Other notable Put OI positions are at:

• 24,550 — 2.41 lakh contracts
• 24,000 — 2.22 lakh contracts
• 24,200 — 1.92 lakh contracts
• 24,400 — 1.90 lakh contracts

Muthoot Finance leads the fresh shorts screen, with its October futures falling 10.03% while open interest jumped 890.48%.

Other stocks showing fresh short positions include:

• GAIL
• Persistent Systems
• Siemens
• Maruti Suzuki
• RBL Bank
• Dixon Technologies
• MCX
• Mphasis
• Sun Pharma

The 24,600 strike has the highest Call open interest in the current Nifty weekly series at about 3.24 lakh contracts, making it the largest overhead Call concentration.

Other notable Call OI positions are at:

• 24,700 — 2.10 lakh contracts
• 24,550 — 2.05 lakh contracts
• 24,500 — 2.00 lakh contracts
• 25,000 — 1.86 lakh contracts

• The Nifty 50 traded 182.55 points, or 0.75%, higher at 24,566.15 after rising as much as 0.8% to 24,576.45.
• The Sensex gained 578.43 points, or 0.74%, to 78,673.07 after climbing as much as 800 points to 78,895.10.

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• The Food Safety and Standards Authority of India issued notices to manufacturing units of United Spirits, Inbrew Beverages and other alcoholic beverage makers over alleged violations of flavouring norms, PTI reported.
• FSSAI said some manufacturers had added flavours that mimic the natural profile of standardised alcoholic beverages, such as rum flavour in rum or whisky flavour in whisky. The regulator also flagged alleged violations involving age-related claims and blend-age disclosures.

• India approved one foreign direct investment proposal from China worth Rs 1 crore in FY26, PTI reported, citing official data. It cleared 13 proposals from Hong Kong worth Rs 610.42 crore.
• Overall, the government approved 63 FDI proposals worth Rs 10,292.67 crore during the year. Singapore accounted for the highest approved value at Rs 3,259.88 crore.

• Park Medi World’s consolidated net profit rose 42.5% year-on-year to Rs 82.5 crore. Revenue increased 19.3% to Rs 476 crore.
• EBITDA grew 20.3% to Rs 126 crore, while the margin widened to 26.5% from 26.3%. The company will acquire Mehar Mediserve for Rs 107 crore.

• Sandhya J of Narayana Health told NDTV Profit that the company reported its highest quarterly revenue in Q1, supported by patient volumes and capacity utilisation in India. The insurance business nearly tripled from a lower base, while the UK business remained sluggish.
• The company will spend Rs 2,000 crore over the next two to three years to increase bed capacity. It aims to lift UK margins to double digits and expects that business to improve over the next 12–18 months.

Biocon has commercially launched Yesafili, a biosimilar version of aflibercept, in the US, according to an exchange filing.

• Blue Cloud Softech has signed a memorandum of understanding with the Liberian government for the country’s National Digital Infrastructure Project, according to an exchange filing.
• The company will implement the project through a public-private partnership model.

• Bajaj Auto’s total sales rose 30% year-on-year to 4.7 lakh units in July. Two-wheeler sales increased 31% to 3.9 lakh units, while commercial vehicle sales grew 23% to 85,958 units.
• Domestic sales rose 20% to 2.2 lakh units, while exports increased 39% to 2.5 lakh units.

• TVS Motor’s total sales rose 38% year-on-year to 6.3 lakh units in July. Two-wheeler sales increased 38% to 6 lakh units, with domestic sales rising 42% to 4.4 lakh units.
• Exports grew 29% to 1.8 lakh units, while three-wheeler sales increased 51% to 26,537 units. Electric two-wheeler sales stood at 60,934 units.

• ITC added 16.51 points to the Nifty 50’s rise, followed by Bajaj Finance at 16.28 points. HDFC Bank, L&T and Infosys contributed 15.88 points, 12.88 points and 11.11 points, respectively.
• Sun Pharma was the largest drag, pulling the index down by 6.75 points. Cipla, ONGC, Coal India and Apollo Hospitals also limited gains.


 

• Nifty FMCG rose 1.12%, while Nifty Metal gained 0.94%. Nifty Bank and Nifty PSU Bank advanced 0.78% and 0.74%, respectively.
• Nifty Media fell 1.61%, while Nifty Pharma declined 0.49%.


 

• The NSE Nifty 50 rose as much as 0.8% to 24,576.45.
• The BSE Sensex rose as much as 800 points or 1% to 78,895.10.

Maruti Suzuki's board approved investments in four compressed biogas projects, adding a separate corporate trigger beyond its July sales update.

• Four CBG projects approved.

• Total investment at Rs 561 crore.

Life Insurance Corporation of India received separate GST demand orders from Jharkhand and CGST Allahabad.

• Jharkhand GST demand at Rs 99.10 crore, along with interest and a penalty of Rs 9.91 crore.

• CGST Allahabad demand for FY19-FY21 involves GST of Rs 95.24 crore, applicable interest and an equal penalty of Rs 95.24 crore over alleged excess input tax credit claim and short tax payment.

The derivatives market starts the session without any individual securities under the futures and options ban.

• Stocks under F&O ban: Nil.

• TVS Motor’s total sales rose 38% year-on-year to 6.3 lakh units in July. Two-wheeler sales increased 38% to 6 lakh units, with domestic sales rising 42% to 4.4 lakh units.
• Exports grew 29% to 1.8 lakh units, while three-wheeler sales increased 51% to 26,537 units. Electric two-wheeler sales stood at 60,934 units.

SML Mahindra and Sigma Solve have been shortlisted under the Short-Term Additional Surveillance Measure framework, while Cyient DLM will exit ASM.

• SML Mahindra — Short-Term ASM inclusion.

• Sigma Solve — Short-Term ASM inclusion.

• Cyient DLM — ASM exclusion.

• SML Mahindra price band reduced from 20% to 10%.

• Sigma Solve price band reduced from 20% to 10%.

• Thangamayil Jewellery price band reduced from 10% to 5%.

The 24,000 strike holds the maximum Put open interest on Nifty, making it a key derivatives level for the session.

• Maximum Put OI at 24,000 strike.

The rupee weakened to 95.135 against the US dollar.

Vodafone Idea received a notice seeking liquidated damages over an alleged default in meeting spectrum rollout obligations.

• Liquidated damages sought at Rs 26.83 crore.

• The alleged default relates to minimum rollout obligations under spectrum allocated in the 2022 Spectrum Auction.

Manipal Health Enterprises will debut on the stock exchanges today. Its initial public offering was subscribed 5.12 times on the final day of bidding.

The Sensex rose 785.89 points, or 1.01%, to 78,880.53 during the pre-market trade. The Nifty 50 gained 189.10 points, or 0.78%, to 24,572.70.

The 24,600 strike holds the maximum Call open interest on Nifty, putting the level in focus in the derivatives market.

• Maximum Call OI at 24,600 strike.

• Anawil Wire & Engineering’s Rs 177.81 crore IPO opens for subscription today. G.V. Electricals and Fusion Klassroom Edutech enter their second day of bidding.
• MV Electrosystems, Juniper Green Energy, Dhaval Packaging and Oneindig Technologies enter the final day of subscription. Juniper Green Energy’s IPO is the largest among these issues at Rs 1,800 crore.

Nifty August futures indicated a positive derivatives setup ahead of the trading session.

• Nifty August futures up 0.30% at 24,430.

• Futures trade at a premium of 47 points.

• Computer Age Management Services, Escorts Kubota, Great Eastern Shipping Company, GlaxoSmithKline Pharmaceuticals, JM Financial, Kansai Nerolac Paints and KEI Industries will report first-quarter results today.
• Sri Lotus Developers and Realty, NOCIL, Sanathan Textiles, Stove Kraft and Thomas Cook (India) are also scheduled to announce earnings.

National Aluminium Co. reported sequential growth in revenue, Ebitda and profit during the June quarter.

NALCO (Q1, Consolidated QoQ)

• Profit up 16.3% at Rs 2,003 crore versus Rs 1,722 crore.
• Revenue up 5.8% at Rs 5,302 crore versus Rs 5,013 crore.
• Ebitda up 15.2% at Rs 2,708 crore versus Rs 2,349 crore.
• Ebitda margin at 51.1% versus 46.9%.

• Adani Ports handled 46.3 million metric tonnes of cargo in July, up 15% year-on-year, according to an exchange filing.
• Logistics rail volume fell 16% to 51,020 twenty-foot equivalent units.

• Ashok Leyland’s total sales rose 30% year-on-year to 19,590 units in July, according to an exchange filing. Domestic sales increased 33% to 17,980 units.
• Medium and heavy commercial vehicle sales grew 29% to 12,270 units, while light commercial vehicle sales rose 32% to 7,320 units.

Gujarat Ambuja Exports reported higher revenue, Ebitda and net profit for the June quarter, while operating margin expanded.

Gujarat Ambuja Exports (Q1, Consolidated YoY)

• Revenue up 23.5% at Rs 1,594 crore versus Rs 1,291 crore.
• Ebitda at Rs 232 crore versus Rs 96.3 crore.
• Ebitda margin at 14.5% versus 7.5%.
• Net profit at Rs 177 crore versus Rs 65 crore.

JPMorgan retained its Underweight rating on CDSL after the depository's June-quarter performance.

JPMorgan

• Maintain Underweight.
• Target price at Rs 1,200.
• Revenue growth was modest while margins compressed.
• Franchise metrics remained resilient.
• Operating leverage was less visible as costs increased ahead of revenue.

CDSL reported higher revenue, Ebitda and net profit for the June quarter, while operating margin narrowed.

CDSL (Q1, Consolidated YoY)

• Revenue up 13.1% at Rs 293 crore versus Rs 259 crore.
• Ebitda up 5.7% at Rs 138 crore versus Rs 131 crore.
• Ebitda margin at 47.1% versus 50.4%.
• Net profit up 14.8% at Rs 118 crore versus Rs 102 crore.

Clean Science reported higher revenue and net profit for the June quarter, while Ebitda and operating margin declined.

Clean Science (Q1, Consolidated YoY)

• Revenue up 10.5% at Rs 268 crore versus Rs 243 crore.
• Ebitda down 3.3% at Rs 96.5 crore versus Rs 99.8 crore.
• Ebitda margin at 35.9% versus 41.1%.
• Net profit up 4.7% at Rs 73.4 crore versus Rs 70.1 crore.

• The company secured a supply contract from Kemin Industries and will be the primary supplier for Kemin's food operations for five years.

Automobile counters will track July sales updates after several manufacturers reported double-digit volume growth.

• Tata Motors PV total sales up 59%.

• Maruti Suzuki total sales up 33.4%.

• Eicher Motors motorcycle sales up 34%.

• M&M total sales up 26%.

• Hyundai Motor total sales up 25.4%.

• Escorts Kubota total tractor sales up 22%.

• Hero MotoCorp total sales up 19%.

• Tata Motors CV total sales up 37%.

Escorts Kubota reported higher tractor volumes in July, led by growth in the domestic market.

Escorts Kubota (July Auto Sales, YoY)

• Total tractor sales up 22% at 8,731 units.
• Domestic tractor sales up 23.7% at 8,194 units.

Eicher Motors reported higher motorcycle volumes during July, while exports increased 10%.

Eicher Motors (July Auto Sales, YoY)

• Motorcycle sales up 34% at 1.18 lakh units.
• Motorcycle exports up 10% at 12,915 units.

Hyundai Motor reported double-digit growth in domestic sales and exports during July.

Hyundai Motor (July Auto Sales, YoY)

• Total sales up 25.4% at 75,360 units.
• Domestic sales up 23.3% at 54,210 units.
• Exports up 31.4% at 21,150 units.

Hero MotoCorp reported higher domestic, motorcycle and scooter sales during July, while exports declined.

Hero MotoCorp (July Auto Sales, YoY)

• Total sales up 19% at 5.33 lakh units.
• Domestic sales up 21.6% at 5.01 lakh units.
• Exports down 14% at 32,013 units.
• Motorcycle sales up 17% at 4.69 lakh units.
• Scooter sales up 32% at 64,851 units.

Tata Motors' commercial vehicle business reported higher July volumes, with exports more than doubling from a year earlier.

Tata Motors CV (July Auto Sales, YoY)

• Total sales up 37% at 39,641 units.
• Domestic CV sales up 28% at 33,876 units.
• Exports at 5,765 units versus 2,524 units.

GAIL drew multiple target price hikes after its June-quarter performance, with brokerages assessing gains from gas marketing and supply disruptions.

Kotak Securities

• Upgrade to Buy from Add.
• Target price raised to Rs 215 from Rs 175.
• Disruption boosted profitability across marketing, LPG/LHC and petchem with minimal impact on transmission volumes.

Macquarie

• Maintain Outperform.
• Target price at Rs 205.
• Gas marketing benefited from favourable price-index movements despite lower volumes.
• Management indicated marketing and LPG outperformance was timing-driven and could moderate.

Citi

• Maintain Buy.
• Target price raised to Rs 202 from Rs 195.
• Gas trading benefited from a timing gap in an oil-linked LNG contract and gains on open US LNG volumes.
• FY27 transmission guidance raised to 123 mmscmd.

Morgan Stanley

• Maintain Equal-weight.
• Target price raised to Rs 190 from Rs 152.
• GAIL is increasingly a play on China and Europe LNG imports before potential upside from a US natural gas glut in 2027.

Morgan Stanley maintained its rating on Coal India while assessing the miner's volumes against thermal power demand.

Morgan Stanley

• Maintain Equal-weight.
• Target price at Rs 420.
• Thermal power demand is estimated to have risen around 12% in July, aided by a favourable base.
• Coal India volumes lagged thermal power demand after adjusting for the favourable base.
• Inventory levels are comfortable and restocking could emerge over the next few months.

Coal India reported higher provisional production and offtake during July.

Coal India (July, YoY)

• Provisional production up 8.4% at 50.4 million tonnes.
• Provisional offtake up 17.4% at 63.7 million tonnes.
• The company offered 251.85 lakh tonnes via e-auction in July and allocated 83.95 lakh tonnes.

Kotak Securities upgraded Zee Entertainment following the proposed increase in promoter holding and potential value unlocking.

Kotak Securities

• Upgrade to Add from Reduce.
• Target price raised to Rs 130 from Rs 90.
• Promoter holding is set to increase to 23.8% from 3.99%.
• Music business value unlocking could emerge as a near- to medium-term trigger.
• Core business headwinds are unlikely to recede.

Zee Entertainment shareholders approved a promoter warrant issue that will increase promoter holding in the company.

• Shareholders approved 24.95 crore warrants at Rs 126 each.

• The issue enables an infusion of Rs 3,143.5 crore.

• Promoter stake will increase to 23.79%.

• Shareholders also approved an ESOP grant of 3.74 crore stock options.

PNC Infratech received an arbitral award in connection with an EPC project, providing a separate financial trigger for the company.

• Arbitral Tribunal awarded the company Rs 244 crore.

PNC Infratech received a letter of intent from the Airports Authority of India for an EPC project at Pantnagar Airport in Uttarakhand.

• Order value at Rs 302.44 crore.

• Project covers airside and landside development works.

• Completion period at 24 months.

NCC received three orders during July across its buildings and water divisions.

• Total order value at Rs 1,052.71 crore.

• Buildings Division orders worth Rs 590.38 crore.

• Water Division orders worth Rs 462.33 crore.

Bharat Electronics received additional orders since July 13, adding to the defence electronics company's order book.

• Orders worth Rs 847 crore received since July 13.

Sterlite Technologies secured an order from a domestic telecom operator for the supply of optical fibre cables.

• Order value at Rs 960 crore.

Waaree Energies secured a new solar module supply order, adding to its order pipeline.

• The order covers 739.71 MW of solar modules.

HCLTech completed two previously announced acquisitions involving Guardian India and Hewlett Packard Enterprise.

• The company completed the acquisition of Guardian India's operations.

• It separately completed the acquisition of Hewlett Packard Enterprise's telco solutions business.

Dr Reddy's Laboratories received US FDA approval for its Rituximab biosimilar, adding a regulatory trigger for the drugmaker.

• Fresenius Kabi will exclusively commercialise the product in the US.

Brokerages remained cautious on ABB India as strong order growth was accompanied by continued pressure on operating margins.

JPMorgan

• Maintain Neutral.
• Target price raised to Rs 6,751 from Rs 6,568.
• Order inflows grew 50% but remained below elevated expectations.
• Brokerage sees no quick recovery in Ebitda margin.

HSBC

• Maintain Reduce.
• Target price raised to Rs 5,400 from Rs 5,200.
• Order inflow growth of 50% was below the roughly 80% expected by consensus.
• Price increases have not kept pace with commodity costs.

ABB India reported higher revenue, Ebitda and net profit in the June quarter, while operating margin narrowed.

ABB India (Q2 CY2026, YoY)

• Net profit up 3% at Rs 362 crore versus Rs 352 crore.
• Revenue up 21% at Rs 3,559 crore versus Rs 2,940 crore.
• Ebitda up 11.4% at Rs 447 crore versus Rs 401 crore.
• Ebitda margin at 12.6% versus 13.6%.
• • The company will pay a special dividend of Rs 90 per share.

Glenmark Pharmaceuticals reported higher revenue, Ebitda and operating margin in the June quarter, while net profit increased from a year earlier.

Glenmark Pharma (Q1, Consolidated YoY)

• Net profit at Rs 483 crore versus Rs 47 crore.
• Revenue up 23% at Rs 4,018 crore versus Rs 3,264 crore.
• Ebitda up 38.6% at Rs 805 crore versus Rs 581 crore.
• Ebitda margin at 20% versus 17.8%.

Persistent Systems reported sequential revenue growth in the June quarter, while Ebit, margin and net profit declined.

Persistent Systems (Q1, Consolidated QoQ)

• Revenue up 6.1% at Rs 4,303 crore versus Rs 4,056 crore.
• Ebit down 11.8% at Rs 582 crore versus Rs 659 crore.
• Ebit margin at 13.5% versus 16.3%.
• Net profit down 8.7% at Rs 483 crore versus Rs 529 crore.
• TTM attrition at 12.3%.
• Total contract value at $1.15 billion.

Morgan Stanley upgraded Urban Company by two notches and raised its target price after reassessing growth and profitability across its businesses.

Morgan Stanley

• Upgrade to Overweight from Underweight.
• Target price raised to Rs 165 from Rs 128.
• Brokerage sees structural expansion in growth rates in India consumer services excluding Insta and the international business.
• Confidence on profitability across segments improved with execution.
• Profitability targets could be achieved sooner than management guidance.
• Elevated InstaHelp losses could force consolidation sooner.
• ROCE is expected to normalise above 20% at steady state.

Urban Company reported higher June-quarter revenue but swung to a net loss from a profit in the year-ago period.

Urban Company (Q1, Consolidated YoY)

• Net loss at Rs 92 crore versus profit of Rs 7 crore.
• Revenue up 43.9% at Rs 528 crore versus Rs 367 crore.
• Ebitda loss at Rs 92.7 crore versus loss of Rs 4.8 crore.

Morgan Stanley maintained its positive view on Muthoot Finance after assessing its June-quarter performance.

Morgan Stanley

• Maintain Overweight.
• Target price at Rs 3,705.
• NIM missed estimates, though better loan growth contained the overall miss.
• Brokerage said elevated consensus estimates made the miss appear worse.
• It cited weak average gold prices QoQ and high one-offs in FY26 yields.

Muthoot Finance reported higher consolidated income and profit for the June quarter.

Muthoot Finance (Q1, Consolidated YoY)

• Total income up 34.5% at Rs 8,695 crore versus Rs 6,466 crore.
• Profit up 38.8% at Rs 2,799 crore versus Rs 2,016 crore.

The company will promote K R Bijimon to CEO and Alexander George as Managing Director starting Oct. 1.

Indian Oil Corp. reported a consolidated loss for the June quarter as Ebitda and operating margin declined sequentially.

Indian Oil Corp. (Q1, Consolidated QoQ)

• Net loss at Rs 2,661 crore versus profit of Rs 11,378 crore.
• Revenue up 26.2% at Rs 2.62 lakh crore versus Rs 2.08 lakh crore.
• Ebitda down 90.6% at Rs 1,947 crore versus Rs 20,716 crore.
• Ebitda margin at 0.7% versus 10%.

Mahindra & Mahindra reported higher July sales across passenger vehicles, tractors, three-wheelers and exports.

M&M (July Auto Sales, YoY)

• Total sales up 26% at 1.03 lakh units.
• Total exports up 47% at 4,070 units.
• 3-wheeler sales up 53% at 14,538 units.
• Tractor exports up 3% at 1,777 units.
• Domestic tractor sales up 21% at 32,643 units.
• Total tractor sales up 20% at 34,420 units.
• PV sales up 20% at 60,048 units.

Tata Motors' passenger vehicle business reported higher July volumes across domestic sales, exports and electric vehicles.

Tata Motors PV (July Auto Sales, YoY)

• Total sales up 59% at 63,760 units.
• Domestic sales up 58% at 62,611 units.
• Exports up 76% at 1,149 units.
• EV sales at 15,217 units versus 7,124 units.

Maruti Suzuki reported higher July volumes, led by a 42% increase in domestic sales.

Maruti Suzuki (July Auto Sales, YoY)

• Total sales up 33.4% at 2.41 lakh units.
• Domestic sales up 42% at 2.11 lakh units.
• Exports up 5.3% at 30,056 units.

Maruti Suzuki drew target price revisions after its June-quarter performance as brokerages assessed commodity costs, supplier settlements and the demand outlook.

Citi

• Maintain Buy.
• Target price cut to Rs 16,500 from Rs 18,500.
• Margin pressure was partly a timing issue after supplier settlements moved from quarterly to monthly.
• FY27 volume growth guidance of 10% was reiterated.
• Seven new models are planned by FY30.

BofA

• Reiterate Neutral.
• Price objective raised to Rs 14,700 from Rs 14,000.
• Commodity costs, new-plant expenses and bonus payouts drove the margin miss.
• Order backlog stands at 1.30 lakh units and channel inventory at 13 days.
• Brokerage sees upside risk to the 10% volume growth guidance.

Nomura

• Maintain Neutral.
• Target price raised to Rs 14,071 from Rs 13,435.
• Monthly commodity settlements hit margins by 110 basis points during the quarter.
• Management expects full capacity utilisation in four to five months.
• Brokerage prefers M&M and Hyundai among four-wheeler OEMs.

Maruti Suzuki reported its June-quarter earnings, with revenue increasing while profit, Ebitda and operating margin declined.

Maruti Suzuki (Q1, YoY)

• Cost of materials up 46% at Rs 32,000 crore.
• Profit down 10.8% at Rs 3,352 crore versus Rs 3,758 crore.
• Revenue up 35.9% at Rs 52,456 crore versus Rs 38,593 crore.
• Ebitda down 14.5% at Rs 4,312 crore versus Rs 5,043 crore.
• Ebitda margin at 8.2% versus 13.1%.