Stock Market Today: Sensex, Nifty End At Record Closing Highs As HDFC Bank, Tata Motors Lead

-The rupee closed flat at 83.72 against the US dollar.

-The local currency fell to a record low of 83.74 during the day.

-It closed at 83.73 on Monday.

Source: Bloomberg

• Net profit down 45.4% at Rs 2,643 crore vs Rs 4,838 crore

• Revenue down 1.8% at Rs 1.93 lakh crore vs Rs 1.97 lakh crore

• EBITDA down 60.5% at Rs 8,635 crore vs Rs 21,875 crore

• Margin down at 4.5% vs 11%

• Net profit up 68.7% at Rs 116 crore vs Rs 69 crore

• Revenue up 26.7% at Rs 1,885 crore vs Rs 1,486 crore

• EBITDA up 38% at Rs 249 crore vs Rs 181 crore

• Margin at 13.2% vs 12.1%

• Net profit down 2.5% at Rs 115 crore vs Rs 118 crore

• Revenue down 0.5% at Rs 1,197 crore vs Rs 1,203 crore

• EBITDA up 14.3% at Rs 194 crore vs Rs 169 crore

• Margin at 16.2% vs 14.1%

• Revenue up 64% at Rs 141 crore  vs Rs 86 crore  

• EBITDA at Rs 22 crore vs Rs 5.5 crore  

• Margin at 15.3% vs 6.3%   

•  Net profit up 69.4% at Rs 23 crore  vs Rs 14 crore

• Revenue  up 9.8% at Rs 718 crore  vs Rs 654 crore    

• EBITDA  up 2.3% at Rs 124 crore  vs Rs 121 crore    

• Net profit  down 67.1% at Rs 8.2 crore  vs Rs 25 crore    

• Margin at 17.3% vs 18.6%   

Source: Cogencis

• SC upholds Madhya Pradesh HC order for awarding Rs 161 crore claim in favour of company's arm

• Madhya Pradesh HC ruled in favour of Daawat Food in Dec 2023 regarding fire incident at plant

Source: Exchange Filing

• Revenue up 6.5% at Rs 4,011 crore vs Rs 3,767 crore  

• EBITDA up 8.5% at Rs 376 crore vs Rs 346 crore   

• Margin at 9.4% vs 9.2%   

• Net profit up2.6% at Rs 203 crore vs Rs 197 crore  

• Revenue up 23% at Rs 2,417 crore vs Rs 1,966 crore

• EBITDA up 34.1% at Rs 719 crore vs Rs 536 crore

• Margin at 29.7% vs 27.3%

• Net profit up 38.2% at Rs 557 crore vs Rs 403 crore

• Net profit at Rs 135 crore vs Rs 48 crore

• Revenue up 19.7% at Rs 1,180 crore vs Rs 986 crore

• EBITDA up 89.5% at Rs 259 crore vs Rs 137 crore

• Margin at 22% vs 13.9%

• Will be a two-in-one mobile QR payment device and card payments

• Also launches customisable soundbox

Source: Exchange filing

Arm gets construction orders worth Rs 444 crore from Hindustan Steelworks Construction

Source: Exchange Filing

Signs three-year contract with Follett Higher Education for cloud-based IT infra

Source: Exchange Filing

Revolt Motors gets approval for EV subsidy from govt

Source: Exchange Filing

Nuvama

• Maintains buy and raised target to Rs 3,745 (earlier Rs. 3,305)

• Started to gradually benefit from the likely rural recovery

• Anticipates balanced growth in FY25 versus pricing led in FY24

Citi Research

• Retains sell with target of Rs. 2850

• Estimate 6% volume growth for the overall company

• Believes that while there is opportunity for growth/consumption and Colgate India seems to be investing behind this

• Estimate moderation in margin expansion going ahead

Market breadth was skewed in the favour of buyers. Around 1,970 stocks rose, 897 fell, and 121 remained unchanged on the BSE.

• Notice sent for copying data, breach of license agreement.

• MapMyIndia alleges Ola Maps used its data for its own products

• Co-mingling and reverse engineering of MapMyIndia's product was prohibited in license agreement

• MapMyIndia says Ola's assertion that Ola Maps has been developed solely through open data is factually incorrect

Source: Copy of notice seen by NDTV Profit

At pre-open, the NSE Nifty 50 was 0.01% higher at 24,839.40, and the S&P BSE Sensex was 0.01% lower at 81.349.28.

The yield on the 10-year bond opened flat at 6.92%.

It closed at 6.92% on Monday.

Source: Cogencis

The local currency opened flat at 83.73 against the US dollar.

It closed at 83.73 on Monday.

Source: Bloomberg

Signs MoU to enhance safety & efficiency of railroads in India, adjacent markets

Source: Exchange Filing

• Retains 'Buy'; target Rs 370 implying 19% upside

• Order book of Rs 76,700 crore gives revenue visibility from FY24-27

• Rs 25,000 crore revenue guidance maintained for FY25

• Raise FY25-27 EPS estimates by 2-3% to reflect improvement

• Exports should rise to 9% of sales

• Values it at 45 times Sept 26 PE

• Downgrades to 'Neutral' rating from 'Buy'

• Price target of Rs 340 (+5.9% upside)

• 145% stock rally in past 1 year largely led by 70% higher order intake

• Expects ~19% top-line/EBITDA CAGRs (FY24-27E) and 12-month-forward PE of 48x

• Valuation leaves little room for a positive surprise

• Believes stock medium-term growth potential is priced in

• Believes HAL presents better new order growth potential in next 1-2 years

• Nuvama maintains Hold on UltraTech Cement at Rs 11,800 target (0.8% downside)

• India Cements acquisition to cement company's leadership in south India

• ICL acquisition, Kesoram cement assets to strengthen firm's positions in the south

• Acquisitions to potentially push capacity to 200 MT by FY26- end

• Access to limestone reserves positive given high acquisition price, capex needed to life efficiency of older plants

• Kesoram, ICL acquisitions likely to push UTCL’s capacity share in south beyond 20%

• Maintains neutral view on cement sector on weak pricing, run up in stocks

• Maintains 'Reduce' at Rs 236 target (31% downside)

• Standalone profit down 2% YoY on higher dividend income, regulatory gains in base quarter

• Capex guidance for FY25/26/27 stands at Rs 18,000/25,000/30,000 crore

• Expects only 6% EPS CAGR over FY24-26 despite strong capex guidance

• Lower EPS CAGR as high voltage direct current projects add to earnings after 2.5 years of build

• Believe company has ran out of near term triggers pertaining to order intake

• Find valuations expensive at P/BV of 3.3 times

• To watch out for in 12-18 months: Share in TBCB ordering, ROE in new TBCB wins

• Maintains 'Buy' at Rs 3,000 target (14.9% upside)

• Q1 Ebitda came 2% below brokerage estimates

• Lower realizations offset benefits of lower costs

• ACC to benefit from cost efficiencies targeted by Ambuja group

• Cut FY25/26/27 Ebitda estimates by 22%/4%/2%

• Maintains 'Buy' at Rs 467 target (18.4% upside)

• Company remains top pick in Electric Utilities

• Q1 net profit grew 11% YoY to Rs 4,500 crore

• FY25 cons. capex guidance at Rs 35,000 crore

• Company to foray into nuclear energy generation via JV

• First nuclear project of 2.8GW planned at capex of Rs 170-180 million per MW

• Slow progress on renewable capacity addition on operational issues

• Company to add 3GW/5GW/8GW capacity in FY25/FY26/FY27

• Maintains 'Buy' at Rs 420 target (9.9% upside)

• Q1 EBITDA of Rs 1600 cr was well below the Rs 2500 cr estimate

• Decline in gross refining margins were as expected

• Results miss primarily on LPG under recovery of Rs 2500 crore

• Lower HPCL's FY25/26 GRM forecasts to $7.5/8.5

• Lower FY25 blended petrol/diesel marketing margin to Rs 1.5/ltr

• FY25/26 EBITDA estimates change by -17%/-5%

Trade Setup For July 30: Nifty To Continue Uptrend With Key Support At 24,620