Stock Market Live Updates: Sensex Off Highs, Up 100 Points; Nifty50 Above 24,350; Bajaj Finance Zooms 8%, Sagility Slips 5%

Aditya Vision Q1 Result Highlights (Cons, YoY)

• Net Profit up 39.9% at Rs 77.2 crore versus Rs 55.2 crore.
• Revenue up 26.9% at Rs 1,193 crore versus Rs 940 crore.
• Ebitda up 39.3% at Rs 124 crore versus Rs 89 crore.
• Margin at 10.4% versus 9.5%.

MV Electrosystems IPO Update as of 3:00 p.m.

• Overall Subscription At 9.64x On Day 2 Of Issue
• Retail Subscription At 33.59x On Day 2 Of Issue
• NIIs Subscription At 11.23x On Day 2 Of Issue
• QIBs Subscription At 0.25x On Day 2 Of Issue

Manipal Health IPO Update as of 2:57 p.m.

• Overall Subscription At 4.00x On Day 3 Of Issue
• Retail Subscription At 0.68x On Day 3 Of Issue
• NIIs Subscription At 0.55x On Day 3 Of Issue
• QIBs Subscription At 6.87x On Day 3 Of Issue

Brent Crude falls 0.2% at $88.87/Bbl.

Kirloskar Brothers Q1 Result Highlights (Cons, YoY)

• Net Profit down 0.1% at Rs 66.6 crore versus Rs 66.7 crore.
• Revenue up 12.8% at Rs 1,104 crore versus Rs 979 crore.
• Ebitda up 2.2% at Rs 114.5 crore versus Rs 112 crore.
• Margin at 10.4% versus 11.4%.

Sun Pharma Q1 Results 

• Net profit at Rs 2,895 crore vs estimate of Rs 2,974 crore
• Revenue at Rs 15,300 crore vs estimate of Rs 15,527 crore
• EBITDA at Rs 4,419 crore vs estimate of Rs 4,372 crore
• EBITDA margin at 28.9% vs estimate of 28.2%

Leela Palaces Hotels and Resorts reported a more than six-fold jump in net profit for the June quarter, driven by strong growth in revenue and improved operating margins. The company's net profit rose to Rs 49 crore in the June quarter of FY27 from Rs 8.8 crore a year earlier (Q1FY26).

• Zuari Agro Chemicals reported a consolidated net profit of Rs 118 crore in Q1, up 19.2% from Rs 99 crore in the year-ago period.
• Revenue declined 50.7% year-on-year to Rs 615 crore from Rs 1,246 crore.
• EBITDA fell 57.9% to Rs 59 crore from Rs 140 crore a year earlier.
• EBITDA margin narrowed to 9.6% from 11.2% in the corresponding quarter last year.
• The company reported higher profit despite a sharp decline in revenue and operating earnings.

 

• Voltamp Transformers reported a Q1 net profit of Rs 91 crore, up 14.7% from Rs 79.5 crore in the year-ago period.
• Revenue increased 28.4% year-on-year to Rs 544 crore from Rs 424 crore.
• EBITDA rose 10.6% to Rs 80.3 crore from Rs 72.6 crore a year earlier.
• EBITDA margin stood at 14.7%, compared with 17.1% in the corresponding quarter last year.
• The board has approved a capital expenditure of Rs 90 crore for a manufacturing unit near Vadodara.

 

• Taj GVK Hotels reported a consolidated net profit of Rs 31.7 crore in Q1, up 51.7% from Rs 20.9 crore in the year-ago period.
• Revenue increased 55.1% year-on-year to Rs 165 crore from Rs 106 crore.
• EBITDA rose 56.3% to Rs 50 crore from Rs 32 crore a year earlier.
• EBITDA margin stood at 30.3%, compared with 30.1% in the corresponding quarter last year.

 

• Gujarat Mineral Development Corporation (GMDC) reported a consolidated net profit of Rs 163 crore in Q1, down 15.8% from Rs 194 crore in the previous quarter.
• Revenue rose 11.4% quarter-on-quarter to Rs 907 crore from Rs 814 crore.
• EBITDA surged 83.3% to Rs 191 crore from Rs 104 crore, while EBITDA margin expanded to 21.1% from 12.8% in the preceding quarter.
• GMDC said it will execute an MoU with Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) to explore opportunities in the coal-to-chemicals business.
• The company will also sign an MoU with IREL (India) Ltd. to explore opportunities in the rare earths sector.

 

• Strides Pharma Science reported a consolidated net profit of Rs 157 crore in Q1, up 57% from Rs 100 crore in the year-ago period.
• Revenue increased 13% year-on-year to Rs 1,265 crore from Rs 1,120 crore.
• EBITDA rose 4.6% to Rs 228 crore from Rs 218 crore a year earlier.
• EBITDA margin stood at 18%, compared with 19.5% in the corresponding quarter last year, reflecting a contraction in profitability despite higher revenue and earnings.

• ESAF Small Finance Bank reported a net profit of Rs 80.1 crore in Q1, compared with a loss of Rs 81.2 crore in the year-ago period.

• Net interest income (NII) rose 54.6% year-on-year to Rs 584 crore from Rs 378 crore.

• Operating profit increased to Rs 349 crore from Rs 125 crore a year earlier.

• Asset quality improved, with Net NPA declining to 0.83% from 1.77% in the previous quarter. Gross NPA stood at 5.4%, compared with 5.41% in Q4.

• Provisions were Rs 242 crore, versus Rs 234 crore a year ago and Rs 214 crore in the preceding quarter.

• The bank's return to profitability was supported by strong growth in net interest income and operating profit, along with an improvement in asset quality.

• Aptus Value Housing Finance reported a Q1 net profit of Rs 193 crore, up 24.6% from Rs 155 crore in the year-ago period.
• Total income increased 17% year-on-year to Rs 428 crore from Rs 366 crore.
• The company reported growth in both earnings and income during the June quarter compared with the corresponding period last year.

• Apollo Micro Systems said it has handed over a Safety and Detonation Device to the Indian Navy, according to an exchange filing.
• The development marks the delivery of a defence system developed by the company for naval applications.
• The company disclosed the handover through a regulatory filing.

 

• The Securities Appellate Tribunal (SAT) has deferred the hearing related to Jane Street to Sept. 4, according to Bloomberg.
• The matter pertains to proceedings linked to regulatory action involving the global trading firm.
• The case will now be taken up at the next scheduled hearing date.

• Shares of Nucleus Software Exports touched a three-year intraday low, with trading volumes running at around five times the average after the company reported weak Q1 results.

• The company reported a consolidated net profit of Rs 23.9 crore, down 30.9% from Rs 34.6 crore in the previous quarter. Revenue declined 6.4% sequentially to Rs 210 crore from Rs 225 crore.

• EBIT fell 90.7% quarter-on-quarter to Rs 2.8 crore from Rs 30 crore, while EBIT margin contracted to 1.3% from 13.4%, marking the lowest margin level in the last 20 quarters.

• Revenue growth declined for the second consecutive quarter. The India business, which contributes around 55% of revenue, recorded a 6.4% decline, while the Middle East business continued to grow.

• The company reported a one-time gain of Rs 9.8 crore during the quarter, compared with a loss of Rs 3.1 crore in the previous quarter.

• The stock has declined 5% over the last week, 9% over the last month, 25% year-to-date, and 36% over the past year.

• Intellect Design Arena reported a consolidated net profit of Rs 102 crore in Q1, down 15% from Rs 120 crore in the previous quarter.
• Revenue was largely flat at Rs 845 crore, compared with Rs 847 crore in Q4.
• EBIT declined 12.8% quarter-on-quarter to Rs 109 crore from Rs 125 crore.
• EBIT margin narrowed to 12.8% from 14.7% in the preceding quarter, reflecting lower operating profitability.

 

• Hirect Ltd. said it has received an order from a US customer for the supply of IGBT converters for use in the mining industry, according to an exchange filing.
• The order strengthens the company's presence in international markets and expands its industrial power electronics portfolio.
• The company disclosed the order win through a regulatory filing.

 

• Privi Speciality Chemicals told NDTV Profit that revenue contribution from new products is expected to start reflecting from the next quarter, with several new product projects currently underway.
• The company said nearly 20% of its volumes could come from speciality chemicals going forward.
• Privi Speciality added that it did not experience any major shipment delays during Q1 despite global disruptions.
• Management reiterated its FY27 EBITDA margin guidance of 35%.
• The company said margins could have been higher in the absence of disruptions caused by the Middle East conflict.

• Hester Biosciences told NDTV Profit that Africa remains a key focus area for its international expansion, citing the region's strong manufacturing base.
• The company said it expects the animal healthcare business to perform better going forward, even as vaccination programme timing and government initiatives affected the segment during the quarter.
• Hester Biosciences said it continues to strengthen its poultry biologicals portfolio and has made consistent efforts to expand its poultry business.
• Management added that growth in the poultry division was a key driver of the company's topline performance.

 

• Marcellus Investment's Pramod Gubbi told NDTV Profit that he remains positive on the pharma, chemicals and healthcare sectors, while also seeing BFSI as one of the few attractive sectors from a valuation perspective.
• Gubbi said valuation comfort is limited across the broader market, with only a handful of sectors offering attractive opportunities.
• He noted that disruption risks are increasing and developments in artificial intelligence are evolving rapidly, making it difficult to build long-term growth assumptions for IT companies.
• Gubbi said Indian corporate earnings appear to be bottoming out, while an increasing number of global companies are identifying opportunities in India.
• He added that consumption-related challenges in India continue to persist and that the role of microeconomic and macroeconomic factors has shifted in recent years.

• Vikran Engineering said it has secured an order worth Rs 121 crore from Power Grid Corporation of India Ltd., according to an exchange filing.
• The contract is for the 400 kV GIS Substation Extension Package SS-147.
• The company disclosed the order win through a regulatory filing.

 

• Shadowfax reported a consolidated net profit of Rs 65.4 crore in Q1, up 17.2% from Rs 55.8 crore in the previous quarter.
• Revenue increased 9.8% quarter-on-quarter to Rs 1,358 crore from Rs 1,237 crore.
• EBITDA rose 8.2% to Rs 92 crore from Rs 85 crore in the preceding quarter.
• EBITDA margin stood at 6.8%, compared with 6.9% in the previous quarter.

• Channel checks indicate Godrej Consumer Products Ltd. (GCPL) has increased prices of select products across its mosquito repellent and soap portfolio amid higher input costs.

• The price of Good Knight Liquid 45 ml has been increased to Rs 90 from Rs 85, a hike of 5.9% in July. Earlier, Good Knight Liquid 60 ml was raised to Rs 115 from Rs 110 in June.

• Black HIT 650 ml has seen a price increase to Rs 350 from Rs 310, up 12.9%. Prices of certain 200 ml HIT variants were raised earlier this year.

• Cinthol Soap (75g x 4) now costs Rs 105, compared with Rs 95 earlier, reflecting a 10.5% increase.

• The price increases come as manufacturers grapple with higher costs for palm oil derivatives, chemicals and packaging materials.

• GCPL derives 63.3% of its revenue from India, with the household insecticide business contributing 22% of total revenue. Good Knight accounts for around 90% of this segment's revenue.

• The company had previously indicated that rising crude oil and palm oil prices could impact costs and said it would use a combination of price hikes, cost savings and media optimisation to protect margins.

• GCPL did not respond to queries regarding the latest price increases.

 

• Aether Industries reported a consolidated net profit of Rs 63 crore in Q1, up 34% from Rs 47 crore in the year-ago period.
• Revenue increased 27.2% year-on-year to Rs 327 crore from Rs 257 crore.
• EBITDA rose 25.6% to Rs 103 crore from Rs 82 crore, while EBITDA margin stood at 31.5% compared with 31.9% a year earlier.
• The company has reappointed Ashwin Desai as Managing Director for a further term of five years, effective Oct. 1, according to its filing.

• Sources told NDTV Profit that the Union Cabinet is likely to approve an Rs 84,000 crore incentive scheme aimed at boosting deep-sea oil and gas exploration in India.
• The proposed scheme is expected to attract foreign investment into deepwater and ultra-deepwater exploration projects.
• Under the plan, the Centre may fund up to 50% of exploratory drilling costs for eligible projects.
• The scheme is likely to be rolled out before the conclusion of the current deepwater block auction.
• The initiative is aimed at increasing domestic hydrocarbon production and reducing India's dependence on crude oil imports.

 

• Bajaj Finserv reported a consolidated net profit of Rs 3,132 crore in Q1, up 12.3% from Rs 2,789 crore in the year-ago period.
• Total income increased 19.1% year-on-year to Rs 42,037 crore from Rs 35,300 crore.
• The company reported assets under management (AUM) of Rs 33,027 crore as of June 30.
• Bajaj Finserv's board has approved pursuing a reinsurance business, marking its entry into another segment of the insurance value chain.

 

• The government said petrol prices could have risen to Rs 125 per litre without ethanol blending, while consumers paid Rs 94.77 per litre with a 20% ethanol blend.
• According to the government, domestic ethanol availability helped shield consumers from higher fuel prices, resulting in savings of nearly Rs 30 per litre during periods of elevated global crude oil prices.
• The government also rejected claims of a Rs 10,000 crore loss linked to the use of Food Corporation of India (FCI) rice for ethanol production, stating that no FCI rice was sold below prescribed policy norms.
• It said food security has not been compromised for the ethanol programme and that surplus FCI stocks were used only after meeting food security requirements.
• The share of FCI rice in ethanol supply rose to 24.64% in ESY 2025-26, compared with 0.02% in ESY 2023-24.

 

• Redington's V.S. Hariharan told NDTV Profit that smartphone prices have largely peaked ahead of the festive season and are unlikely to decline in the near term. He added that the market may see a few more price increases before prices stabilise in Q3.
• Hariharan said consumer demand remains strong, with growth in the mobility business driven by premiumisation trends.
• He described data centres as a rapidly growing segment within the technology solutions business and said Redington is securing a significant share of India's data centre projects. The company has recently signed multiple data centre deals and is focusing on building non-hyperscale data centre capabilities.
• The company is also increasing its focus on software solutions, which recorded around 60% year-on-year growth.
• Hariharan said Q1 delivered strong growth in both revenue and profit, while international operations remained resilient despite geopolitical tensions. Africa posted strong growth, though Saudi Arabia saw some moderation.
• He added that Redington could see double-digit growth in its international business after the conflict-related disruptions ease, and that the company continues to optimise cloud pricing and spending.

 

• The Supreme Court has stayed an earlier order that classified the National Stock Exchange (NSE) as a public authority under the Right to Information (RTI) Act.
• The court issued notice to the Central Information Commission on NSE's plea challenging the public authority classification.
• The development comes after a High Court ruling had held that NSE qualifies as a public authority under the RTI Act.
• The Supreme Court's stay means the High Court order will not operate until further hearings in the matter.

• LIC Housing Finance said during its Q1 earnings call that it is targeting 15% business growth in Q2.
• The company added that business growth remains in line with its guidance of 15%.
• Management reiterated its growth outlook and expects business momentum to remain on track in the coming quarter.

 

• IRFC management said during the Q1 earnings call that the company plans to enter high-speed rail projects in the near term.
• The company expects its net interest margin (NIM) to be around 1.6% in FY27.
• IRFC also said it expects disbursements to increase during the remainder of FY27, indicating a stronger pace of lending and project financing in the coming quarters.

 

• The Supreme Court has upheld an NCLAT order that set aside the Rs 300 crore penalty imposed on Grasim Industries by the Competition Commission of India (CCI).
• The ruling affirms the appellate tribunal's decision in favour of Grasim.
• The Supreme Court's decision brings closure to the dispute over the competition regulator's penalty on the company.

• Fischer Medical Ventures said its subsidiary, Time Medical International Ventures, has entered into a partnership with Parul Sevashram Hospital for an inter-operative MRI suite, according to an exchange filing.
• The collaboration is aimed at deploying MRI technology for use during surgical procedures.
• The company disclosed the partnership through a regulatory filing.

 

• Privi Speciality Chemicals reported a consolidated net profit of Rs 84.2 crore in Q1, up 36% from Rs 61.9 crore a year earlier.

• Revenue increased 19.2% year-on-year to Rs 666 crore from Rs 559 crore, while EBITDA rose 15.3% to Rs 152 crore from Rs 132 crore.

• EBITDA margin stood at 22.9%, compared with 23.6% a year ago.

• The company said growth was driven by broad-based demand across domestic and export markets, supported by its diversified geographic presence and stable operations.

• Margins were impacted by around 42 basis points due to a fire involving an export consignment at a CFS warehouse near JNPT. The estimated loss is Rs 2.78 crore, and an insurance claim has been filed.

• Privi said its flagship product capacity expansion project is nearing completion, while debottlenecking and expansion initiatives across plants are underway.

• The company's PRIGIV joint venture with Givaudan is manufacturing more than 40 specialty products and is evaluating additional capex for high-value specialty molecules, with a potential revenue opportunity of over Rs 100 crore.

• Privi reiterated its FY30 vision of Rs 5,000 crore revenue and over Rs 1,000 crore EBITDA, while aiming to sustain EBITDA margins above 20%.

• Renewable energy stocks recovered in Friday's trade after witnessing sharp declines in the previous session following earnings-related weakness.
• Premier Energies rose as much as 2.83% intraday and was trading 2.44% higher at Rs 1,006.70.
• Waaree Energies gained up to 2.25% during the session and was last trading 1.24% higher at Rs 2,657.50.
• Suzlon Energy advanced 0.93% intraday and was trading 0.63% higher at Rs 47.70.
• The gains indicate a recovery in investor sentiment towards the renewable energy sector after Thursday's correction.

• RateGain Travel Technologies said it has reappointed Bhanu Chopra as Chairman and Managing Director for a further term of five years, according to an exchange filing.
• The reappointment was approved by the company's board and is subject to applicable regulatory and shareholder approvals, where required.
• The company disclosed the development through a regulatory filing.

 

• Lupin said it has received US FDA approval for its Sugammadex Injection, according to an exchange filing.
• Sugammadex is used to reverse neuromuscular blockade in patients undergoing surgery under general anaesthesia.
• The approval allows Lupin to market the product in the US market.

 

• Global Health Ltd. (Medanta) has fixed August 14, 2026 as the record date to determine shareholders eligible for the final dividend for FY26, according to an exchange filing.
• The company has proposed a final dividend of Rs 0.50 per equity share, subject to shareholder approval at the AGM.
• Global Health will hold its 22nd Annual General Meeting (AGM) on September 16, 2026 through video conferencing and other audio-visual means.
• The dividend, if approved by shareholders, will be paid within 30 days of the AGM.

 

• The Nifty IT index recovered from its intraday low of 30,034.40 and was trading at 30,694.80, down 1.6%, paring a part of the sharp losses seen earlier in the session.
• The index had opened at 30,488.40 and moved up from its lows as select IT stocks recovered during trade.
• Despite the rebound, the Nifty IT index remained the worst-performing sectoral index and continued to trade in negative territory.

• Jefferies said both Eternal and Swiggy continue to make progress in the food delivery business, but believes Eternal is further strengthening its leadership position.
• The brokerage said Eternal remains ahead on most operating metrics and continues to be its preferred play in the sector.
• However, Jefferies highlighted that Swiggy's food delivery EBITDA grew five-fold, compared with a two-fold increase for Eternal, indicating faster profitability improvements.
• The brokerage said that if a similar trend emerges in quick commerce, Swiggy could offer a high risk-reward opportunity for investors.
• Jefferies added that it views Eternal as a proxy for India's internet and consumption story and considers it a core holding for long-only portfolios.

 

• JTEKT India said it has fixed August 7, 2026 as the record date to determine shareholders eligible for the final dividend for FY26, according to an exchange filing.
• The company will hold its 42nd Annual General Meeting (AGM) on August 26, 2026, through video conferencing and other audio-visual means.
• JTEKT India has also dispatched its FY26 Annual Report and AGM notice to shareholders.

 

• The government has reappointed K Rajaraman as Chairperson of the International Financial Services Centres Authority (IFSCA) until he attains the age of 65 years.
• Rajaraman will continue to lead the unified regulator overseeing financial services activities at GIFT City IFSC.
• The reappointment ensures continuity in the regulatory oversight and development of India's international financial services centre.

• LIC Housing Finance MD & CEO Tribhuvan Adhikari told NDTV Profit that the company is targeting a net interest margin (NIM) of 2.6%-2.7% and remains committed to maintaining its FY27 NIM guidance.
• The company reported Q1 disbursements of Rs 15,014 crore, reflecting 14.5% year-on-year growth.
• Adhikari said disbursements are expected to increase gradually over the coming quarters.
• LIC Housing Finance also expects to deliver double-digit growth in its loan book during FY27.

 

• Niva Bupa CEO Vishwanath Mahendra told NDTV Profit that the company delivered growth in both overall business and retail health insurance in Q1.
• He said the GST exemption on certain health insurance products acted as a key tailwind during the quarter, supporting business growth and renewal rates.
• The insurer is expanding its distribution network and plans to add 1,000 new personnel.
• Mahendra said the combined insurance service ratio improved during the quarter and loss ratios in the retail health segment remained benign. He expects loss ratios to improve further.
• The company said structural changes have taken place following the GST changes, though the base effect of the tax cut will be visible from Q3.
• Niva Bupa expects to grow 8-10 percentage points faster than the industry going forward.

 

• India's flex-fuel (E85) vehicle rollout showed early signs of consumer adoption in July, with 67 E85 vehicles registered as of July 30, according to Vahan dashboard data.
• Hero MotoCorp accounted for 61 registrations, indicating stronger demand for E85-compatible two-wheelers. Maruti Suzuki recorded six registrations, up from three in June.
• Demand for E85 two-wheelers is currently higher than for passenger vehicles.
• India currently has 48 retail outlets selling E85 fuel, with the government aiming to expand the network to 500 outlets by December 2026 and 5,000 outlets by December 2027.

 

• Shares of Bajaj Finance rose as much as 5.17% in intraday trade after the company's June-quarter earnings exceeded market expectations.
• The lender reported strong loan growth, stable margins and improved asset quality, prompting several brokerages to turn more positive on the stock.
• Following the results, Citi, Jefferies and Morgan Stanley raised their target prices on Bajaj Finance.
• Investors responded positively to the earnings performance and management commentary, making Bajaj Finance one of the top gainers in early trade.

• ITC is expected to report standalone revenue of Rs 18,630 crore in Q1 FY27, down 5.6% from Rs 19,750 crore a year earlier.

• EBITDA is estimated to decline 14.4% to Rs 5,356 crore from Rs 6,261 crore, while EBITDA margin is expected to contract to 28.7% from 31.7%.

• Net profit is likely to fall 11% year-on-year to Rs 4,368 crore from Rs 4,912 crore.

• Cigarette volumes are expected to face pressure due to recent price hikes and the full-quarter impact of excise duty changes. Cigarette revenue is projected to decline in the low single digits.

• The FMCG business is expected to post steady underlying growth, while the agri and paperboards businesses may see subdued performance.

• Higher tobacco leaf costs and input cost inflation in the agri and paper segments are likely to weigh on margins during the quarter.

• Investors will closely track management commentary on cigarette price hikes, volume growth trends, margin outlook and demand conditions across key business segments.

• Dinshaw Irani of Helios Capital told NDTV Profit that active fund flows could improve going forward and said weakness in markets such as South Korea and Taiwan is unlikely to materially affect India.
• He said investors should focus more on India's domestic growth story rather than export-led themes, adding that the country's manufacturing sector is catching up and capacity utilisation levels are approaching peak levels.
• Irani said the fading of the AI theme may not necessarily benefit IT companies and noted that the financial sector has been gaining momentum.
• He added that he is more constructive on financials than any other sector and remains bullish on Bajaj Finance, citing strong asset quality.
• Irani also said the data centre segment is likely to attract greater investor attention over time.

 

• CLSA has maintained its 'Outperform' rating on Bajaj Finance and raised its target price to Rs 1,300 from Rs 1,200.
• The brokerage said Bajaj Finance delivered a strong Q1 performance, with profit after tax exceeding estimates by 6%, supported by better-than-expected NII, pre-provision operating profit and credit costs.
• AUM growth accelerated to 24% year-on-year from 22% in the previous quarter, while margins remained broadly stable as higher funding costs were passed on to customers.
• CLSA highlighted asset quality as the key positive, noting that credit costs declined 30 basis points year-on-year to 1.5%, despite the company making overlay provisions.
• The brokerage said core credit costs stood at 1.3% and believes Bajaj Finance can outperform its FY27 credit cost guidance of 1.45%-1.6%.
• CLSA added that management's commentary during the analyst call remained positive on the business outlook.

 

• Brokerages maintained a constructive view on Mahindra & Mahindra after its June-quarter results, even as some key profitability metrics came in mixed.
• Citi said EBITDA was slightly below expectations, while profit was supported by higher other income. The brokerage remains positive on the outlook, citing momentum in the electric vehicle business and improving rural demand trends.
• Morgan Stanley flagged near-term pressure on farm segment margins but expects earnings growth to improve in the second half of FY27.
• Macquarie said M&M is well positioned to navigate macroeconomic challenges, supported by a strong SUV product pipeline and resilient tractor demand.
• Investors will continue to monitor margin trends, EV execution and rural demand indicators for further cues on earnings growth.

• RailTel Corporation of India shares fell more than 3% to Rs 285.95 in early trade after the company reported its Q1 FY27 results.
• The stock opened marginally lower and extended losses following the earnings announcement.
• RailTel reported a net profit of Rs 65.8 crore for Q1, down 0.5% from Rs 66.1 crore in the year-ago period.
• The company's revenue rose during the quarter, but profit remained largely flat as margins narrowed.

• Thermax shares fell as much as 16.08% to Rs 3,566.90 in early trade after the company reported a sharp decline in June-quarter earnings.
• The stock was trading around 13.4% lower at Rs 3,680 at 9:40 am, while the broader market was largely flat with a negative bias.
• Thermax's consolidated net profit fell 83.4% year-on-year to Rs 25.2 crore from Rs 152.4 crore.
• Revenue, however, increased 6.7% to Rs 2,303 crore from Rs 2,158 crore in the year-ago quarter.
• Investors reacted to the steep decline in profitability despite growth in revenue.

• Shares of Hyundai Motor India surged as much as 7.7% to Rs 2,173.7 in early trade on Friday despite the company reporting a 35% decline in consolidated net profit for the quarter ended June 30.
• The stock was trading 6.81% higher at 9:40 am, outperforming the broader market, while the Nifty 50 was down 0.03%.
• The sharp rise in the stock indicates investors focused on factors beyond the headline profit decline, with Hyundai emerging as one of the notable gainers in early trade.

• Air India, SkyDrive and Suzuki have entered into an agreement to conduct a feasibility study on medical air logistics, according to Bloomberg.
• The collaboration will examine the use of air mobility solutions for transporting medical supplies and related healthcare logistics.
• The feasibility study is expected to assess operational and commercial aspects of deploying such services.

 

• Around 10 lakh shares of Axis Bank changed hands in a block trade, according to Bloomberg data.
• Separately, about 10.7 lakh shares of HDFC Life Insurance were traded in a block deal.
• Details of the buyers and sellers involved in the transactions were not immediately available.

 

• Mahindra & Mahindra Group CEO Anish Shah told NDTV Profit that the company delivered profitability in Q1 despite a challenging operating environment and showed resilience during the quarter.
• Shah said some easing in commodity prices was visible during Q1, though margins in the farm business declined slightly.
• Strong rural demand continued to support growth in the tractor business, while the international farm business could see a turnaround going forward.
• The SUV business was impacted by labour shortages during the quarter, which affected vehicle production.
• M&M expects a ramp-up in both internal combustion engine (ICE) and electric vehicle (EV) production.
• Shah said EV incentives are expected to decline as scale improves, adding that government policies have supported the transition from ICE vehicles to EVs.
• He added that EV adoption is likely to increase as charging and related infrastructure expands.

 

• Aarti Industries' Executive Director Suyog Kotecha told NDTV Profit that the conflict in the Middle East affected volumes during Q1, with volumes declining 12% on a sequential basis.
• The company said it has passed on most of the price increases arising from the conflict and remains focused on cost optimisation.
• Kotecha said de-stocking across the chemicals portfolio is largely complete and new enquiry pipelines are being built up.
• The company expects all planned blocks to be commissioned during FY27 and sees scope for full utilisation of its assets over time.
• Management added that volatility in raw material prices remains a key factor to manage going forward.

 

• JPMorgan has initiated coverage on Ather Energy with an 'Overweight' rating and a target price of Rs 1,570.
• The brokerage said the electric two-wheeler maker has further upside potential despite the stock's sharp rally over the past year.
• Ather Energy shares have gained more than 255% over the last 12 months, rising from a low of Rs 347.30 to a record high of Rs 1,296.70.
• JPMorgan believes the company is well positioned to benefit from the growth of India's electric mobility market and sees around 27% upside from current levels.

• NSE said SEBI has given in-principle acceptance to the revised settlement terms proposed by the exchange under the SEBI Settlement Proceedings Regulations, 2018.
• SEBI has sought an additional payment of Rs 714.74 crore, over and above the Rs 776.47 crore already deposited by NSE. The total settlement amount stands at Rs 1,491.21 crore.
• NSE said the settlement provision had already been made in its financial statements for the year ended March 31, 2026. The cash outflow from the settlement will be Rs 714.74 crore.
• The exchange added that the settlement is not expected to have any material adverse impact on its day-to-day operations.

Source: NSE Filing

• Thermax Executive Chairman Ashish Bhandari told NDTV Profit that Q1 was a difficult quarter for the company, with project cost increases and delayed shipments impacting performance.
• The company was unable to ship equipment worth Rs 300 crore to the Middle East during the quarter. Commodity price movements also had an impact of around Rs 10 crore.
• Bhandari said engineering changes suggested by customers resulted in higher project costs, and the company has taken sufficient contingencies for affected orders. He added that no further cost overruns are expected.
• Thermax expects order approvals for certain projects in Tamil Nadu within a week after delays linked to a change in the state government.
• Management said profitability and revenue are expected to improve from Q2, with a significant recovery anticipated in the second quarter.
• The company aims to execute several large projects this year and expects issues in its Bio-CNG business to be resolved during FY27.
• Bhandari said the order pipeline remains healthy, the backlog includes a significant share of international orders, and FY27 order inflows are expected to exceed the previous year's levels.

• Swiggy shares fell as much as 4.28% to Rs 283.25 in early trade after the company's Q1 earnings missed analyst expectations.
• The company reported an EBITDA loss of Rs 650 crore, wider than the Street estimate of a Rs 504 crore loss.
• Net loss came in at Rs 791 crore, also higher than analyst expectations.
• The stock came under pressure as investors reacted to the larger-than-expected losses despite continued growth in the business.

• Larsen & Toubro's energy business has signed a six-year agreement with Petroleum Development Oman (PDO), according to an exchange filing.
• PDO is Oman's leading oil and gas exploration and production company.
• The agreement strengthens L&T Energy's presence in the Middle East energy sector and expands its long-term engagement with PDO.

• Around 18.5 lakh shares of Rossell Techsys changed hands in a block trade, according to market data.
• The transaction amounted to approximately 4.9% of the company's equity.
• Details of the buyers and sellers involved in the block deal were not immediately available.

Source: Bloomberg

• Macquarie has maintained its 'Outperform' rating on Divi's Laboratories and raised its target price to Rs 10,200 from Rs 7,500.
• The brokerage said the peptide CDMO market is poised for strong medium-term growth, supported by rising demand.
• Macquarie believes Divi's integrated manufacturing capabilities and scale position the company well to benefit from growth in the peptide CDMO segment.
• The brokerage added that these strengths could support Divi's ambitions to strengthen its position in the global peptide manufacturing market.

• Indian equity benchmarks opened marginally higher, but the Nifty IT index emerged as the top sectoral loser, falling more than 3% in early trade.
• Bajaj Finance was the top gainer on the Sensex, rising over 3.5%.
• In contrast, Infosys was among the biggest laggards, declining nearly 4%, weighing on the IT sector.
• The sharp sell-off in technology stocks put pressure on sectoral indices despite gains in select financial stocks.

• Indian benchmark indices opened marginally higher on Friday, extending gains from the previous session.
• The Nifty 50 opened at 24,361.45, while the BSE Sensex started the session at 77,998.66.
• Among sectoral gauges, the Nifty IT index was the biggest laggard, declining more than 3% in early trade.
• Investors are tracking earnings announcements and sector-specific moves on the final trading day of the week.

• Sony reported Q1 operating income of 476.5 billion yen, ahead of the Bloomberg estimate of 355.67 billion yen. Net income came in at 342.16 billion yen, compared with expectations of 265.98 billion yen.
• Following the strong quarter, Sony raised its full-year operating income forecast to 1.72 trillion yen from 1.60 trillion yen. It also increased its full-year sales outlook to 12.50 trillion yen from 12.30 trillion yen.
• The company now expects full-year net income of 1.21 trillion yen, up from its earlier forecast of 1.16 trillion yen.
• Sony maintained its full-year dividend forecast at 35 yen per share, above the Bloomberg consensus estimate of 33.08 yen.
• The company said it is difficult to estimate the financial impact of the recent earthquake and has not incorporated any potential impact into its full-year forecast.

• The BSE Sensex was up 88.42 points, or 0.11%, at 78,016.57 in pre-open trade.
• The Nifty 50 gained 44.30 points, or 0.18%, to 24,361.45.
• The pre-open indicators pointed to a mildly positive start for Indian equities ahead of the opening bell.

• Maruti Suzuki India has commenced production at Plant D at its Gujarat manufacturing facility, PTI reported.
• The new plant is expected to support the company's production capacity expansion plans.
• Maruti Suzuki continues to ramp up manufacturing capabilities to meet domestic and export demand.

• Mankind Pharma: Board approved a Rs 150 crore corporate guarantee for wholly owned subsidiary Bharat Serums and Vaccines to secure its credit facilities.
• Fischer Medical Ventures: Associate company Nanomedic Technologies received CDSCO import approval for the Spincare Portable Wound Care System, enabling its launch in India. Fischer holds exclusive distribution rights across India and Southeast Asia.
• Garden Reach Shipbuilders & Engineers: Received a Rs 1,032.07 crore Notification of Award from ONGC for construction of four Platform Supply Vessels, to be executed over 48 months.
• Global Health: Board approved a revised plan for its upcoming Guwahati hospital, increasing planned capacity to 650 beds from 400 beds with an estimated investment of Rs 970 crore.
• Thermax: Board approved merger of wholly owned subsidiary Thermax Cooling Solutions with the company and demerger of the Bio-CNG EPC business of Thermax Bioenergy Solutions into Thermax, subject to regulatory and NCLT approvals.
• Niva Bupa Health Insurance: Board approved raising up to Rs 500 crore through non-convertible debentures on a private placement basis.
• Refex Industries: Secured a rate contract worth about Rs 22.75 crore from a Maharatna CPSE for ash transportation to road construction sites, to be executed over about 12 months.
• Arkade Developers: Launched Arkade Sapphire, a boutique mixed-use residential and commercial project in Santacruz West, Mumbai.
• Hyundai Motor India: Appointed Mukundan MS as Whole-time Director and Chief Manufacturing Officer from Sept. 1, 2026, subject to shareholder approval. Appointed Young Geon Kim as Senior Management Personnel from Aug. 1, 2026.
• Gillette India: Appointed Robin Thadathil as Additional Executive Director from Aug. 1, 2026.
• PVR INOX: Opened a three-screen premium multiplex at Mall 11, Jabalpur, taking its network to 1,782 screens across 355 properties.
• Tata Power: Completed acquisition of 100% stake in Ryapte Power Transmission for Rs 10.87 crore. Tata Power Renewables secured an 800 MW Inter-State Transmission System connectivity project with an investment of Rs 5,750 crore.
• Billionbrains Garage Ventures (Groww): ICRA upgraded the company's issuer rating to AA (Stable) from AA- (Stable).
• SJVN: Ministry of Power extended the additional charge of Chairman and Managing Director held by Bhupender Gupta for three months from Aug. 1, 2026, or until a regular CMD is appointed.
• REC: Incorporated Kukshi Alirajpur Transmission for the Kukshi/Alirajpur transmission project. Transferred its 100% stake in Ryapte Power Transmission to Tata Power for Rs 110.87 crore. The SPV ceased to be its subsidiary.
• Bank of India: Revised MCLR rates from Aug. 1, 2026. Increased three-month MCLR to 8.35% from 8.25% and one-year MCLR to 8.80% from 8.75%. Other tenors remain unchanged.
• LIC: Received a GST demand order for FY23 involving GST of Rs 99.10 crore, along with applicable interest and penalty of Rs 9.91 crore.
• Union Bank of India: Board approved raising up to USD 2 billion through a Medium Term Note programme via debt issuances from its Dubai and/or Sydney branches.
• Clean Science and Technology: Wholly owned subsidiary Clean-Fino Chem approved incorporation of a wholly owned subsidiary in the Netherlands with an initial investment of EUR 50,000 for specialty chemicals trading and distribution.
• Astra Microwave Products: Received an order worth Rs 2,205.23 crore from HAL for supply of 122 AAAUs and 121 Interface Frames for Uttam Radar. Execution is scheduled over five years.
• AWL Agri Business: Appointed Pankaj Goyal as Chief Financial Officer from July 31, 2026.

• GIFT Nifty traded at 24,422, compared with Wednesday’s Nifty 50 close of 24,317.
• The early indicator was 105 points above the previous close.