Stock Market Today: Sensex, Nifty Close Lower As RIL, Powergrid, SBI Drag; FPIs Remain Net Sellers

• Gets Rs 137.63 crore order from Reliance Retail for supply of optical fibre cables.

Source: Exchange filing

• Bank has strategic intent to augment business in priority sector via organic and inorganic means.

• Continues to explore alternatives via tie-ups, partnerships merger and acquisition.

Source: Exchange Filing

• Gross GST Collections in July for transactions in June recorded at Rs 1,65,105 crore, marking a 11% year-on-year growth

Source: PIB

• Gets final U.S. FDA approval for Saxagliptin tablets.

• Alert: Saxagliptin is a diabetes tablet to control blood sugar levels.

Source: Exchange filing

• Gets export order for OTR steel wheels for 3 wheel sizes.

• Orders received for an OEM in Oceania market.

• Orders to be executed from next month from Dappar plant.

Source: Exchange Filing

• Revenue up 1.63% at Rs 1610.73 crore vs Rs 1584.82 crore (Bloomberg estimate: Rs 1621.5 crore)

• Net profit down 10.52% at Rs 202.84 crore vs Rs 226.69 crore (Bloomberg estimate: Rs 210.3 crore)

• Ebitda down 9.78% at Rs 332.07 crore vs Rs 368.07 crore (Bloomberg estimate: Rs 331.45 crore)

• Margins at 20.61% vs 23.22% (Bloomberg estimate: 20.44%)

Source: Exchange filing

• Received new orders worth Rs 1,919 crore.

• Orders worth Rs 1,635 crore are for the water division.

• Orders worth Rs 284 crore are for the building division.

• The new orders have been received from state and central government agencies.

Source: Exchange filing

The broader market indices were trading mixed; the S&P BSE MidCap Index was down 0.15%, whereas S&P BSE SmallCap Index was 0.57% higher.

Ten out of the 19 sectors compiled by BSE advanced while nine sectors advanced. S&P BSE Information Technology rose the most, while S&P BSE Realty fell the most.

The market breadth was skewed in the favour of the buyers. About 2,024 stocks rose, 1,406 declined, while 175 remained unchanged on the BSE.

• July production at 53.7 million tons, up 13.4% YoY.

• July sales at 59.5 million tons, up 9.3% YoY.

Source: Exchange Filing

• Manufacturing PMI rose to 57.7 in July, in line with the reading of 57.8 in June.

Source: S&P Global

• Gets order from RVNL for design and construction of underground metro project.

• Gets order from Middle East for mandate to rehabilitate structures for strategic purposes.

• Note: L&T classifies order worth between Rs 2,500-5,000 crore as large.

Source: Exchange Filing

• Awarded Rs 837.34 crore order by ONGC for renovation of their Hazira Plant.

Source: Exchange filing

The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 0.06%, whereas S&P BSE SmallCap Index was 0.53% higher.

Thirteen out of the 19 sectors compiled by BSE advanced while six sectors advanced. S&P BSE Telecommunication rose the most, while S&P BSE Realty fell the most.

The market breadth was skewed in the favour of the buyers. About 1,748 stocks rose, 519 declined, while 95 remained unchanged on the BSE.

Source: BSE

• Receives Abbreviated New Drug Application approval from U.S. FDA for Saxagliptin tablets.

• Alert: Saxagliptin is a diabetes control tablet for monitoring blood sugar levels.

Source: Exchange filing

• At pre-open, the S&P BSE Sensex Index was up 0.29 points or 0% at 66,527.96 while the NSE Nifty 50 Index was 30 points or 0.15% higher at 19,784.

Source: Exchange filing

• The local currency weakened 6 paise to open at Rs 82.31 against the U.S dollar on Tuesday.

• It closed at 82.25 on Monday.

Source: Bloomberg

• The yield on the 10-year bond opened flat at 7.17% on Tuesday.

Source: Bloomberg

• Promoters to sell about 2.16 crore shares or 0.87% equity via block deal.

• To sell shares at Rs 503 per share, 3% discount to Monday's close.

• Axis Capital sole broker to the block deal.

Source: Term sheet

• Signs MoU with Brookfield Asset Management to manufacture renewable energy equipment in Australia.

Source: Exchange filing

• Cuts LPG prices of Indane in Delhi by Rs 100 from August 1, 2023.

• Prices slashed from Rs 1,780 per 19 kg cylinder as of July 4, 2023.

Source: Indian Oil website

Gaming Industry Proposes Different Valuation Method Ahead Of GST Council Meet

Stock Market Today: All You Need To Know Going Into Trade On Aug. 1