The NSE Nifty 50 and BSE Sensex ended flat after trading in a narrow range throughout the day.
The Nifty moved in a 96 points range, while Sensex moved in 333.22 points range in Wednesday's session.
Tata Consultancy Services Ltd., and Infosys Ltd. were top leaders in Nifty 50 index.
ICICI Bank Ltd., and Coal India Ltd. were top draggers in Nifty 50 index. The NSE Nifty IT index rose 1.58% to 39,731.35, the highest level in nearly two weeks during the session.
The NSE Nifty Bank index fell 0.36% to 49,654.65, the lowest level in two months during the day.
The NSE Nifty Metal index tumbled 2.56% to 8,727.80, the lowest level since June after the Supreme Court allowed states to collect mining royalty due from April 2005.
Mahanagar Telephone Nigam Ltd. approved service pact with BSNL for 10 years.
The company also approved sale of stake in MTNL STPI IT Services.
It also approved closure of unit Millennium Telecom.
It approved sale of Mauritius subsidiary.
Source: Exchange filing
Shriram Properties Ltd. appointed Ravindra Kumar Pandey as CFO.
Source: Exchange filing
Epigral Ltd. approved raising up to Rs 500 crore via QIP or other means.
Source: Exchange filing
Revenue down 4% at Rs 6,747 crore vs Rs 7,026 crore
Ebitda down 28% at Rs 484 crore vs Rs 667 crore
Ebitda margin at 7.2% vs 9.5%
Net profit down 30% at Rs 226 crore vs Rs 325 crore
Balaji Amines Ltd. received government clearance for greenfield project of manufacturing specialty chemicals in Solapur, Maharashtra.
Source: Exchange filing
Revenue up 11% at Rs 4,348 crore vs Rs 3,915 crore
Ebitda up 13% at Rs 991 crore vs Rs 876 crore
Ebitda margin at 22.8% vs 22.4%
Net profit up 77% at Rs 1,438 crore vs Rs 814 crore
Trade deficit at $23.5 billion vs $19 billion
Imports at $57.48 billion vs $53.49 billion
Exports fell 1.5% at $33.98 billion
Imports rose 7.5% at $57.48 billion
Services exports at $28.43 billion
Services imports at $14.55 billion
Larsen & Toubro Ltd. will acquire additional 15% stake in L&T Oman for OMR 1.2 million.
Source: Exchange filing
Net profit up 85% at Rs 268 crore vs Rs 145 crore
Revenue up 43% at Rs 1,148 crore vs Rs 804 crore
EBITDA up 64% at Rs 388 crore vs Rs 237 crore
Margin at 33.8% vs 29.5%
Enters into agreement with US-based Pharmazz Inc.
To invest up to $15 mn in US-based Pharmazz
Source: Exchange filing
Motisons Jewellers Ltd. board approves raising up to Rs 170 crore via preferential issue
Source: Exchange filing
Manappuram Finance Falls After Q1 Profit Misses Estimates
Muthoot Finance Falls After Profit Misses Estimates In June Quarter
HEG Shares Tumble On GST Demand Notice, 83% Profit Drop
Maruti Suzuki India Ltd. received a show cause notice from Mumbai Customs Office
Notice asks the company reasons for claiming custom duty exemption on import of certain goods.
Notice asks company to pay differential duty of Rs 3.8 crore along with interest and penalty.
Source: Exchange filing
Mining royalty judgment will be given retrospective effect subject to some conditions
The demand of tax shall not operate on transactions made prior to April 1, 2005.
Time for payment of tax can be staggered over 12 years commencing from April 1, 2026.
Levy of interest and penalty on demands for period prior to July 25, 2024 shall stand waived.
Source: Supreme Court Proceedings
VAHAN Market share at 31.1%
On Premium side, we had slew of launches-
Expect some action on higher market share by end of this fiscal
Some launches in scooter this fiscal year
New product with full body change probably be in September
125 and 160cc segment of XOOM to be launched this year
EV scooter range expansion to continue this year as well
Marksans Pharma Jumps To Two-Week High After June Quarter Profit Rises
HEG Ltd.'s board took note of show cause notice from Bhopal tax authority
Show cause notice proposes recovery of IGST refunds & penalty amounting to Rs 282 crore
The company is to file reply to the show cause notice.
Source: Exchange filing
Power demand continues to show momentum in Q1FY25, up 11% YoY
Renewable capacity addition gaining traction on govt targets, cost competitiveness
Seeing higher no. of bids for hybrid RE, dispatchable power tenders
Higher penetration of ACs, data centers, railways, EVs to contribute to rising power demand
Expect power demand CAGR of 7% during FY25-FY32
Evacuation of renewable power to result in investment in transmission sector
Market breadth was skewed in favour of sellers. Around 1,672 stocks declined, 1,277 stocks rose, and 134 stocks remained flat.
Aethar Industries Ltd.'s national Green Tribunal disposed suo-moto application without any penalty.
Alert: Suo-moto application was filed on basis of news report of fire accident at company.
Source: Exchange filing
At pre-open, the NSE Nifty 50 was 45.40 points or 0.19% higher at 24,184.40, and the BSE Sensex was 0.14% or 108.19 points higher at 79,064.22.
The yield on the 10-year bond opened flat at 6.87%.
It closed at 6.88% on Tuesday.
Source: Cogencis
The local currency opened 6 paise higher at 83.91 against the US Dollar on Wednesday.
It closed at 83.97 a dollar on Tuesday.
Source: Cogencis
Jefferies maintains 'Buy' with a target price Rs 2,220 which implied a 17% upside.
Beat in operating profit offset by higher provisions
Loan growth surprises positively aided by gold prices
NIMs held up better than expected, asset quality risk is low
Values standalone business at 2.5x Sept 2026 Book Value
Jefferies maintains 'Buy' with a target price Rs 270, which implied a 30% upside.
Higher operating profit offset by higher provisions
Q1 PAT growth 3% below Jefferies est.
Strong 10% QoQ growth in gold loan portfolio
Concerns on stress in MFI / non-gold largely priced in
Value at 1.2x Sept 2026 Price to Book
Nomura maintains neutral with a target price Rs 1,720, which implied a 7% upside.
NIM improvement remains key RoA driver
NIM improvement will come at the cost of loan growth
Improvement in funding mix remains key NIM driver
Balance sheet course correction will be gradual
Rupee Closes Flat Against Dollar Amid Climbing Oil Prices
SBI, Nippon Mutual Funds Buy Rs 434-Crore Stake In Sundram Fastners
Man Infraconstruction: Promoter Mansi P. Shah bought 20,000 shares on Aug. 12.
Price band change from 10% to 5%: SMS Lifesciences India,
Ex/record dividend: EPL, Gujarat Pipavav Port, Kalyani Steels, Bharat Electronics, TTK Prestige, Hitachi Energy, Motherson Sumi Wiring India, Samvardhana Motherson International, Maharashtra Seamless, JB Chemicals & Pharmaceuticals, Railtel Corp., and H.G. Infra Engineering.
Ex/record buyback: TTK Prestige
Ex/record AGM: EPL, Flair Writing Industries, Federal-Mogul Goetze, Gujarat Pipavav Port, Wonderla Holidays, Power Finance Corp., Bharat Electronics, TTK Prestige, Hitachi Energy, Motherson Sumi Wiring India, and Samvardhana Motherson International.
Moved in the short-term framework: Supriya Lifescience, Venky's (India), Vishnu Prakash R. Punglia.
Moved out short-term framework: Kernex Microsystems (India), PCBL, Selan Exploration Technology, and TCPL Packaging.
Saraswati Saree Depot: The public issue was subscribed to 16.34 times on day 2. The bids were led by non-institutional investors (57.18 times), retail investors (20.30 times) and qualified institutional investors (1.32 times).
Shareholders Of Brainbees Solutions Trim Stake For Rs 549.80 Crore
Vedanta Approves 2.6% Stake Sale In Hindustan Zinc Via OFS
Apollo Hospitals Enterprise Q1 Results: Profit Surges 82%, Meets Estimates
Trade Setup For Aug. 14: Nifty May Test 24,000, Key Support At 24,200