Stock Market Live Updates: Sensex Slips 330 Points; Nifty50 Below 24,350; Nalco Tanks 6%, Welspun Living Zooms 10%
The S&P 500 hit an intraday all-time high of 7,816.70 and also closed at a fresh record. The tech and communication services sectors were among the top performers, gaining around 1% each.
Indian benchmark indices Sensex and Nifty were trading lower on Friday, weighed down by weakness in Metal stocks. The Nifty Metal index fell over 1%.
Last checked, Sensex was down 0.43% or 347 points at 77,735 levels. On the other hand, Nifty was trading 0.37% or 89.75 points lower at 24,306.10 levels.
US stock futures were largely unchanged on Thursday night after Wall Street ended at record levels. The S&P 500 hit an intraday all-time high of 7,816.70 and also closed at a fresh record. The tech and communication services sectors were among the top performers, gaining around 1% each.
S&P 500 and Nasdaq-100 futures were trading marginally above the flatline, while Dow Jones futures were up around 4 points.
Asian Markets
Asian equities were largely higher on Friday, with Japan and South Korea leading the gains. The Nikkei 225 rose more than 1.4%, while the Topix gained 0.8%. South Korea's Kospi advanced 1.4%, although the small-cap Kosdaq fell more than 1.5%. Australia's S&P/ASX 200 declined 0.6%.
Q1 Results, Crude Oil In Focus
Domestic markets are likely to take cues from the ongoing Q1 earnings season, institutional activity and movements in crude oil prices. Investors will also track global market trends and sector-specific developments for further direction.
Last checked, Brent Crude was trading marginally higher at $87.20 a barrel.
Q1 Results Today
Several key companies are scheduled to announce their June-quarter results on Friday, including NMDC, Ashok Leyland, Bharat Dynamics, Alkem Laboratories, Tube Investments of India, Voltas and Cochin Shipyard, among others.
Stock Market Live: Remembering Rakesh Jhunjhunwala: Five Market Lessons From The Big Bull That Still Matter
Stock Market Live: Amber Enterprises Arm IL JIN Electronics Appoints Sudhir Goyal As CFO
- IL JIN Electronics (India), a subsidiary of Amber Enterprises India, has appointed Sudhir Goyal as its Chief Financial Officer (CFO), according to an exchange filing.
- Goyal will oversee the finance function at the electronics manufacturing subsidiary.
- The appointment comes as IL JIN Electronics continues to expand its operations in the electronics and consumer durables manufacturing segment.
- Amber Enterprises disclosed the management change through a regulatory filing.
Source: Exchange Filing
Stock Market Live: Max Financial Services Q1 VNB Jumps 33%; Margin Expands Sharply
- Max Financial Services reported a strong Q1 performance, driven by healthy premium growth, higher protection sales and improving product mix.
- Gross Written Premium (GWP) increased 20% YoY to Rs 7,607 crore from Rs 6,397 crore.
- Annual Premium Equivalent (APE) grew 15% YoY to Rs 1,922 crore from Rs 1,668 crore.
- Value of New Business (VNB) rose 33% YoY to Rs 446 crore from Rs 335 crore.
- VNB Margin expanded 315 basis points to 23.2% from 20.1% a year ago.
- The improvement was driven by favorable yield movements and a better product mix.
- Management indicated that the GST-related margin impact is largely behind the company.
- Annuity business recorded strong growth, aided by new product launches.
- Group Credit Life business grew 57% YoY, supported by new partnerships.
- Protection and Health segments benefited from stronger demand and higher rider attachment rates.
- Partnership-channel growth remained healthy, led by Axis Bank and newer bancassurance relationships.
- Management expects VNB growth to continue outpacing APE growth.
- Protection and annuity products are expected to remain key growth drivers.
- Expansion in Tier-2 and Tier-3 markets and new partnerships will support business momentum.
- The company sees a significant annuity opportunity across agency, proprietary and Axis Bank channels.
- While yield-curve benefits may moderate in coming quarters, margin improvement is expected to continue through operating leverage and product mix enhancement.
- Solvency ratio stood at 198% versus 199% a year ago.
- Management said the current capital position provides adequate headroom for growth over the next 2-3 quarters.
- Sustainability of VNB margin expansion.
- Growth trajectory in protection and annuity businesses.
- Contribution from the Axis Bank channel.
- Progress on new partnerships and expansion into Tier-2 and Tier-3 markets.
Profitability Improves
Business Highlights
Outlook
Capital Position
Key Monitorables
Source: Company Update
Stock Market Live: Krsnaa Diagnostics Q1 Profit Falls 19%; Revenue Grows 22.1%
-
Krsnaa Diagnostics reported a consolidated net profit of Rs 16.6 crore in Q1, down 19% from Rs 20.5 crore in the year-ago period.
-
Revenue increased 22.1% year-on-year to Rs 236 crore from Rs 193 crore.
-
EBITDA rose 12.9% to Rs 57.9 crore from Rs 51.3 crore a year earlier.
-
EBITDA margin contracted to 24.6% from 26.6% in the corresponding quarter last year.
-
The company delivered strong revenue growth during the quarter, supported by higher operating profit.
-
However, profitability came under pressure as margins narrowed, leading to a decline in net profit despite double-digit revenue growth.
Source: Company Filing
Stock Market Live: SIS Commences Share Buyback Worth Up To Rs 106 Crore
- SIS Ltd. has commenced its share buyback programme worth up to Rs 106 crore on Aug. 13, according to an exchange filing.
- The buyback forms part of the company's capital allocation strategy and reflects management's confidence in the business outlook.
- Share buybacks typically help improve shareholder returns by reducing the outstanding share count and enhancing earnings per share.
- The company disclosed the commencement of the buyback through a regulatory filing.
Source: Exchange Filing
Stock Market Live: Apar Industries To Allot 16.9 Lakh Shares To QIBs, Raises Rs 2,500 Crore
- Apar Industries will allot 16.9 lakh shares to Qualified Institutional Buyers (QIBs), according to an exchange filing.
- The company is raising Rs 2,500 crore through the share allotment.
- Shares will be allotted at an issue price of Rs 14,805 per share to eligible institutional investors.
- The fundraising will strengthen the company's balance sheet and provide capital for growth initiatives and expansion plans.
- The allotment follows the successful completion of the company's Qualified Institutions Placement (QIP).
Source: Exchange Filing
Stock Market Live: Lloyds Engineering Signs Rs 200 Crore Loan Agreement With Tata Capital
- Lloyds Engineering Works has signed a Rs 200 crore loan agreement with Tata Capital, according to an exchange filing.
- The funding will be utilised for the acquisition of Steel Infra, the company said.
- The loan pact is expected to support Lloyds Engineering's expansion strategy and strengthen its engineering and infrastructure business portfolio.
- The development was disclosed through a regulatory filing.
Source: Exchange Filing
Stock Market Live: Sensex, Nifty Open Lower
Sensex Opens At 77,903.43. Its Previous Close Was 78,079.96
Nifty Opens At 24,361.90. Its Previous Close Was 24,361.90
Stock Market Live: Brokerage Radar: Tata Motors, Honasa, Solar, Jubilant Food In Focus; Targets See Wide Divergence
Brokerages have taken sharply different positions across several key Q1 names. Tata Motors faces a target cut from Citi, while Honasa has a Rs 390-650 target range. Solar Industries has an even wider Rs 11,200-20,180 range, while Jubilant FoodWorks' targets span Rs 360-670.
Stock Market Live: Rupee Opens At 95.37 Against Dollar
Stock Market Live: Rupee Opens At 95.37 Against Dollar
Stock Market Live: Diamond Power Infrastructure Reports Strong Q1 Growth; Stock In Focus
Diamond Power Infrastructure reported strong year-on-year growth across revenue, EBITDA and net profit in Q1 FY27.
Stock Market Live: Brigade Enterprises Profit Rises 34% Despite Revenue Decline In Q1
Brigade Enterprises reported a 12.9% decline in revenue, but EBITDA increased 11.7% and net profit rose 33.6%.
Stock Market Live: Travel Food Services Q1 Profit Rises 38%; EBITDA Margin Comes Under Pressure
Travel Food Services reported a 20.5% rise in revenue and a 38% increase in net profit.
Stock Market Live: Elgi Equipments Q1 Profit Rises 21%; Revenue Up 23%
Elgi Equipments reported a 22.5% rise in revenue in Q1 FY27. EBITDA increased 27.7%, while net profit rose 20.7%.
Stock Market Live: Manorama Industries Q1 Profit Jumps 68%; Revenue Rises 39%
Manorama Industries reported a 39.3% rise in revenue, while EBITDA increased 41.6%. Net profit jumped 67.8%.
Stock Market Live: Gland Pharma Appoints Dr. Reddy's Executive Deepak Sapra As CEO
- Gland Pharma has appointed Deepak Sapra as Chief Executive Officer, effective Nov. 16, according to an exchange filing.
- Sapra currently serves as CEO, API & Services Business, at Dr. Reddy's Laboratories.
- He brings extensive experience in the pharmaceutical and active pharmaceutical ingredients (API) segment.
- The appointment comes as Gland Pharma looks to strengthen its leadership team and drive its next phase of growth across key markets.
- The company disclosed the management change through a regulatory filing.
Source: Exchange Filing
Stock Market Live: Man Industries Gets QatarEnergy Approval For LSAW Pipes; Added To Preferred Manufacturers List
-
Man Industries said it has been included in QatarEnergy's Preferred Manufacturers List (PML), according to an exchange filing.
-
The inclusion relates to Carbon Steel Longitudinal Submerged Arc Welded (LSAW) Pipes.
-
The approval covers:
- LSAW Pipes
- Bends
- Coating Solutions
-
Being added to QatarEnergy's PML enables Man Industries to participate in approved vendor opportunities linked to the energy major's projects and procurement requirements.
-
The development is expected to strengthen the company's presence in the Middle East energy infrastructure market and enhance its eligibility for future orders.
Source: Exchange Filing
Stock Market Live: Indigo Paints Q1 Profit Jumps 61%; EBITDA Rises 40%
Indigo Paints reported a 19.7% rise in revenue in Q1 FY27. EBITDA increased 40%, while net profit jumped 61.1%.
Stock Market Live: Endurance Technologies Q1 Revenue Jumps 30%; Profit Rises 8%
Endurance Technologies reported a 30% rise in revenue in Q1 FY27. EBITDA increased 20.7%, while net profit rose 8%.
Stock Market Live: APAR Industries Closes QIP; Allots 16.9 Lakh Shares At Rs 14,805
APAR Industries closed its QIP and allotted 16.9 lakh shares at Rs 14,805 per share.
Stock Market Live: Olectra Greentech Revenue Jumps 66% In Q1; Profit Flat At Rs 25.9 Crore
Revenue rose 66% to Rs 576 crore and EBITDA increased 46.6% to Rs 69.2 crore, while net profit was broadly unchanged at Rs 25.9 crore.
Stock Market Live: Relaxo Footwear Profit Rises 12%; Company Reassesses Manufacturing Capacity
Revenue rose 7.7% to Rs 705 crore, EBITDA increased 8.8% and net profit rose 12.4% to Rs 54.9 crore.
The company reassessed manufacturing capacity to 9.1 lakh pairs per day from 10.5 lakh pairs earlier.
Stock Market Live: Technocraft Industries Profit Jumps 70% To Rs 134 Crore; EBITDA Margin At 22.1%
Revenue rose 27.2% to Rs 805 crore, EBITDA increased 58.9% to Rs 178 crore and net profit rose 69.6% to Rs 134 crore.
Stock Market Live: Genus Power Profit Rises 43% To Rs 197 Crore; Revenue Jumps 45%
Revenue rose 44.8% to Rs 1,365 crore, EBITDA increased 30.3% to Rs 259.8 crore and net profit rose 43.2% to Rs 197 crore.
Stock Market Live: Engineers India Profit Surges To Rs 158 Crore; EBITDA Jumps 75%
Revenue declined 5.8%, but EBITDA jumped 75.3% to Rs 126.6 crore and net profit rose to Rs 158 crore from Rs 65.4 crore.
Stock Market Live: Amber Enterprises Q1 Profit Falls 78.5% Due To One-Time Loss; Revenue Grows 12.7%
-
Amber Enterprises reported a consolidated net profit of Rs 22.3 crore in Q1, down 78.5% from Rs 103 crore in the year-ago period.
-
Revenue increased 12.7% year-on-year to Rs 3,888 crore from Rs 3,449 crore.
-
EBITDA rose 21.5% to Rs 312 crore from Rs 257 crore a year earlier.
-
EBITDA margin improved to 8% from 7.4% in the corresponding quarter last year.
-
The company reported a one-time loss of Rs 123 crore during the quarter, which weighed heavily on the bottom line.
-
Excluding the exceptional loss, operating performance remained strong, reflected in double-digit revenue growth, higher EBITDA and margin expansion.
Source: Company Filing
Stock Market Live: Galaxy Surfactants Profit More Than Doubles To Rs 166 Crore; EBITDA Margin At 14%
Revenue increased 39.4% to Rs 1,782 crore, while EBITDA rose to Rs 249 crore from Rs 124 crore. Net profit increased to Rs 166 crore from Rs 79.5 crore.
Stock Market Live: VST Tillers Tractors Q1 Net Profit Rises 9.1%; Revenue Grows 11%
-
VST Tillers Tractors reported a consolidated net profit of Rs 48 crore in Q1, up 9.1% from Rs 44 crore in the year-ago period.
-
Revenue increased 11% year-on-year to Rs 313 crore from Rs 282 crore.
-
EBITDA rose 8.3% to Rs 40 crore from Rs 37 crore a year earlier.
-
EBITDA margin stood at 12.7%, compared with 13% in the corresponding quarter last year.
-
The company delivered steady growth in revenue, operating profit and net profit during the quarter.
-
Margins remained largely stable, with a marginal contraction despite double-digit topline growth.
Source: Company Filing
Stock Market Live: Welspun Living Profit Surges 84% To Rs 161 Crore; EBITDA Up 42%
Revenue rose 23.7% to Rs 2,795 crore, EBITDA increased 42.4% to Rs 321 crore and net profit jumped 83.6% to Rs 161 crore.
Stock Market Live: KRBL Profit Jumps 73% To Rs 261 Crore; EBITDA Margin At 20.5%
Revenue declined 5.6%, but EBITDA rose 59.6% and net profit jumped 72.8%. EBITDA margin expanded to 20.5% from 12.2%.
Stock Market Live: RCF Profit Rises 35%; Board Approves Rs 1,100 Crore NCD Fundraise
Revenue rose 6.4% to Rs 3,586 crore, EBITDA increased 39.4% to Rs 220 crore and net profit rose 35.1% to Rs 73.5 crore. The company also approved up to Rs 1,100 crore fundraising through NCDs.
Stock Market Live: JSW Cement Swings To Rs 161 Crore Profit; Approves Rs 500 Crore NCD Fundraise
Revenue rose 21.6% to Rs 1,896 crore, while net profit swung to Rs 161 crore from a loss of Rs 1,356 crore. The board also approved fundraising of up to Rs 500 crore through NCDs.
Stock Market Live: Aditya Birla Real Estate Enters Navi Mumbai Redevelopment With Rs 2,600 Crore Vashi Project
Birla Estates has entered Navi Mumbai redevelopment with a Vashi project having revenue potential of around Rs 2,600 crore.
Stock Market Live: Thyrocare Shares In Focus After Docon Stake Sale; Institutions Among Buyers
Docon Technologies sold Thyrocare shares at Rs 631.71 and Rs 624 per share. Buyers included HSBC Mutual Fund, Kotak Mahindra Life Insurance, DSP Mutual Fund and ICICI Prudential Mutual Fund.
Stock Market Live: Urban Company Shares In Focus After 3.15 Crore Shares Change Hands At Rs 136
Accel India IV, VYC11 and VY EM2 sold a combined 3.15 crore shares at Rs 136 per share, with SBI Mutual Fund buying the shares. Bessemer India Capital Holdings II separately sold 1.21 crore shares at Rs 140.15.
Stock Market Live: Leap India Shares To Make Stock Market Debut Today; IPO Subscribed 8.38x
Leap India's IPO was subscribed 8.38x, with QIB subscription at 16.84x, NII at 12.64x and retail at 1.71x.
Stock Market Live: Technocraft Ventures Shares To Debut Today; IPO Subscribed 38.69x
The IPO was subscribed 38.69x, including 65.06x in NII, 42.26x in QIB and 25.35x in retail.
Stock Market Live: Milky Mist IPO Subscription Crosses 56x; QIB Portion At 156x
Overall subscription reached 56.12x, with QIB subscription at 155.83x, NII at 34.91x and retail at 8.41x.
Stock Market Live: IGL In Focus As Higher Gas Costs Squeeze Margins; Macquarie Keeps Outperform
Macquarie retained Outperform with a Rs 220 target. Q1 volumes were in line, but higher gas costs affected margins despite price hikes.
Gas availability, sourcing mix and FY27 volume and margin guidance remain key factors to watch.
Stock Market Live: Max Healthcare In Focus After PAT Miss; Macquarie Keeps Underperform
Macquarie retained Underperform with a Rs 825 target. Q1 operations were broadly in line, but PAT missed expectations because of higher finance costs.
EBITDA per bed also declined sequentially because of the drag from newly added beds.
Stock Market Live: Page Industries In Focus After Macquarie Flags Weak Q1 Volume Momentum
Macquarie retained Underperform with a Rs 32,500 target after Q1 EBITDA came in below expectations because of logistical constraints.
Management has reiterated its double-digit volume-growth target for FY27, but Macquarie remains cautious.
Stock Market Live: Delhivery In Focus As Macquarie Raises Revenue Forecasts; Keeps Outperform
Macquarie retained Outperform with a Rs 580 target and raised revenue forecasts on better parcel volumes.
It expects strong operating leverage and margin expansion, modelling 21% revenue CAGR and more than 50% EBITDA CAGR for FY26-29E.
Stock Market Live: Max Financial In Focus After VNB Beat; Jefferies Sees 18% CAGR For Axis Max Life
Jefferies said VNB of Rs 450 crore was 17% above estimates, while VNB margin was 360 basis points ahead of estimates.
APE and VNB growth of 15% and 33%, respectively, were ahead of private peers. Jefferies expects Axis Max Life to deliver an 18% VNB CAGR over the next three years.
Stock Market Live: BofA Says Q1FY27 Earnings Beat Expectations; Metals Lead, Margins Remain Under Pressure
BofA India Strategy said companies representing 97% of market capitalisation were tracking a 3% beat and 13% YoY earnings growth.
Metals led the earnings beat, while Metals, Materials and Telecom saw relatively better growth. BofA expects a gradual recovery as commodity prices, supply chains and price pass-throughs improve.
Stock Market Live: Solar Industries In Focus As Brokerages Differ Sharply; Targets At Rs 11,200-20,180
Kotak Securities retained Sell but raised its target to Rs 11,200 from Rs 10,300, citing an all-round beat, Pinaka-led defence growth and a Rs 21,400 crore order book.
Goldman Sachs retained Buy with a Rs 20,180 target, citing strong Q1 execution, upcoming orders, Dhule plant commissioning and sustained international explosives growth.
Stock Market Live: LG Electronics India Profit Rises 27%; Brokerages See Q1 Beat, Targets Up To Rs 1,810
LG Electronics India reported a 15.5% rise in revenue to Rs 7,233 crore and a 27% rise in net profit to Rs 653 crore.
Morgan Stanley retained Overweight with a Rs 1,610 target, while Jefferies retained Buy with a Rs 1,810 target. Both highlighted strong category growth and margin performance.
Stock Market Live: Jubilant FoodWorks Targets Range From Rs 360 To Rs 670; Brokerages Divided After Q1
Citi and Jefferies retained Buy and raised their targets to Rs 670 and Rs 650, respectively. Morgan Stanley retained Equal-weight with a Rs 439 target, while Macquarie retained Underperform with a Rs 360 target.
The key debate is whether improving Domino's LFL growth and Popeyes can outweigh input-cost and margin pressures.
Stock Market Live: Brainbees In Focus After Q1 Margin Miss; Morgan Stanley Sees Structural India Growth
Morgan Stanley retained Equal-weight with a Rs 300 target. It sees improving India revenue growth as structural and expects elevated FY27 growth.
Margins remain under pressure from competitive intensity in diapers and higher manufacturing costs.
Stock Market Live: Honasa Consumer Profit Jumps 118%; Brokerages Split On Stock, Targets At Rs 390-650
Honasa Consumer reported a 27% rise in revenue to Rs 756 crore, while EBITDA jumped 140.2% to Rs 110 crore and EBITDA margin expanded to 14.6%.
Citi retained Sell but raised its target to Rs 390 from Rs 320, while Jefferies retained Buy and raised its target to Rs 650 from Rs 565. Jefferies highlighted strong revenue and margin delivery, while Citi flagged competition and the need to monitor reinvestment and margin expansion.
Stock Market Live: Tata Motors PV Profit Plunges 80%; JLR Revenue Falls 10% In Q1, Citi Cuts Target
Stock Market Live: Tata Motors PV reported a 9.3% rise in revenue to Rs 95,799 crore in Q1 FY27, while EBITDA fell 17.2% to Rs 6,326 crore. EBITDA margin stood at 6.6% versus 8.7% a year ago.
Net profit fell 80.3% to Rs 775 crore from Rs 3,924 crore, while JLR revenue declined 9.6% to £6 billion, with volumes impacted by supply constraints. Citi retained its Sell rating and cut its target price to Rs 305 from Rs 320, citing significant margin headwinds.
Stock Market Live: US Markets End Higher
Stock Market Live: The S&P 500 rose 50.49 points, or 0.65%, to 7,798.99, after hitting an intraday record high of 7,816.70 during Thursday’s session.
The Dow Jones Industrial Average gained 69.72 points, or 0.13%, to 53,839.99, while the Nasdaq Composite advanced 214.54 points, or 0.81%, to 26,803.03. The Nasdaq 100 climbed 341.90 points, or 1.15%, to 30,084.50, and the Russell 2000 added 7.36 points, or 0.24%, to 3,052.85.
Stock Market Live: Asian Markets Trade Mixed
Stock Market Live: The ASX 200 was down 62.30 points, or 0.68%, at 9,126.20, while the Nikkei was up 647.69 points, or 0.95%, at 68,956.28.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
