Stock Market Today: Nifty Ends Above 25,000 For The First Time As Heavyweights Lead Gains

-The local currency closed flat at 83.72 against the US dollar.

-Rupee hit a record low of 83.756 during the day.

-It closed at 83.73 on Wednesday.

Source: Bloomberg

• Nifty records highest close in the fifth consecutive session

• Nifty hit intraday high of 25,078.30

• Sensex hit intraday high of 82,129.49

• Broader indices end lower; Nifty Midcap 100 ended 0.84% lower and Nifty Smallcap 250 ended 0.58% down

• Most sectoral indices ended lower; Nifty Energy was the top gainer and Nifty Media fell the most

• Sensex rises 126.21 points to end at 81867.55 Nifty rises 59.75 points to end at 25010.90

• PowerGrid and Coal India were top Nifty gainers; M&M and Hero MotoCorp were top losers

• Net profit up 45% at Rs 253 crore vs Rs 175 crore

• Revenue up 18% at Rs 4,206 crore vs Rs 3,562 crore

• EBITDA at Rs 177 crore vs Rs 86 crore

• EBITDA margin at 4.2% vs 2.4%

• Board approves demerger of FMCG and Food business

• Food and FMCG business to be listed on BSE & NSE

• Net profit up 25.8% at Rs 24.7 crore vs Rs 19.6 crore

• Revenue up 9.2% at Rs 604 crore vs Rs 554 crore

• EBITDA up 28.47% at Rs 58.2 crore vs Rs 45.3 crore

• Margin at 9.6% vs 8.2%

• Approves setting up over 250-bedded hospital in Zirakpur, Punjab, at an investment of Rs 230 crore

• Approves providing up to Rs 100 crore as loan to Muthoot Hospitals

Source: Exchange filing

• Revenue down 2% at Rs 2,310 crore vs Rs 2,355 crore

• EBITDA down 2% at Rs 325 crore vs Rs 331 crore

• EBITDA margin flat at 14.1%

• Net profit up 1% at Rs 293 crore vs Rs 290 crore

• Revenue up 17.7% at Rs 4,434 crore vs Rs 3,767 crore

• Net profit up 10.3% at Rs 314 crore vs Rs 284 crore

• Margin at 8.7% vs 8.9%

• EBITDA up 14.1% at Rs 384 crore vs Rs 337 crore

• Q1 Revenue up 7% at Rs 3,349 crore vs Rs 3,130 crore

• EBITDA up 8% at Rs 655 crore vs Rs 604 crore

• EBITDA margin at 19.6% vs 19.3%

• Net profit up 8% at Rs 494 crore vs Rs 457 crore

• Total income up 26% at Rs 8,881 crore vs Rs 7,052 crore

• Net profit up 17% at Rs 759 crore vs Rs 649 crore

• Net profit down 1.6% at Rs 236 crore versus Rs 240 crore.

• Revenue up 20% at Rs 1,543 crore versus Rs 1,285 crore.

• Ebitda up 14.8% at Rs 387 crore versus Rs 337 crore.

• Margin at 25.1% versus 26.3%.

• Revenue down 18.5% at Rs 830 crore versus Rs 1,019 crore.

• Ebitda down 27.6% at Rs 217 crore versus Rs 299 crore.

• Margins at 26.1% versus 29.4%.

• Net profit down 64.7% at Rs 151 crore versus Rs 426 crore.

Monthly sales value in July up 2%

Monthly sales volume in July up 4%

Source: Exchange Filing

• Revenue up 3.7% at Rs 1,036 crore vs Rs 999 crore

• EBITDA up 4.2% at Rs 169 crore vs Rs 162 crore

• Margin at 16.3% vs 16.2%

• Net profit up 4.3% at Rs 115 crore vs Rs 110 crore

• Decision on forensic audit may take a few weeks

• C-Edge Technologies provides technology services to cooperative banks

• Technology providers are required to get regular certification of cyber security infrastructure

Source: People In The Know

• The ransomware attack on C-Edge Technologies affected nearly 300 small banks

• NPCI had isolated C-Edge Technologies from accessing retail payments on Wednesday

• Retail payments completely blocked during period of isolation

Source: People In The Know

• Total sales up 11% at 3.54 lakh units YoY

• Total 2-wheeler sales up 11% at 2.98 lakh units YoY

• Total CV sales up 11% at 56,628 units YoY

• Total sales at 3.54 lakg units vs NDTV Profit estimate of 3.46 lakh units

• The yield on the 10-year bond opened flat at 6.91%.

• It closed at 6.92% on Wednesday.

Source: Cogencis

• Rupee strengthened by 5 paise to open at 83.68 against the US dollar.

• It closed at 83.73 on Wednesday.

Source: Bloomberg

Enters into Strategic Agreement with Ather Energy

Collaborate for development & supply of NMC & LFP lithium-ion cells for 2-wheeler battery packs

Source: Exchange Filing

• Maintains 'Buy' with target Rs 3,340 from Rs 3,010, upside 15%

• Strong margin expansion offset the lower auto segment revenue

• Positive outlook for tractors segment; reiterated 5%YoY growth guidance for industry

• Possible upside risks to this number

• Billings were lower than bookings in UVs due to heatwave, elections

• SUV volume growth guidance for FY25 is mid-to-high teens

• Order book come down as mgmt. aims to service a higher proportion of bookings

• Recent XUV700 price-cuts likely have minimal impact on profitability

• Trim SUV volume estimates, but increase tractor estimates over FY25-27E

• Pencil in higher margins, driven by better mix and cost reduction initiatives

• Earnings estimates over FY25-27E increased by 5-11%

• Value M&M’s core business at Rs 2,900/share based on 27x Sep’25E core EPS

• Incorporate values for M&M’s listed subsidiaries at a total of Rs440/share

• Maintains Sell, target Rs 137, downside 6.8%

• Revenue driven by strong growth in subscription

• Partially offset by weak advertising revenues

• Viewership share declined 40 bps QoQ to 16.4%

• This was impacted by cricket and general elections

• Will monitor any material increase in ad revenue and extent of benefit to Zee

• Remains concerned on the potential impact of the cost saving measures

• Maintain Buy with TP 15,200 up from 14750, Upside 15%

• EBITDA Beat led by better expected asp and lower commodity costs

• CNG Portfolio performing well helping margins, Co derives third of volumes from CNG

• Tax cut on hybrids is an upside risk

• Launch of 3 new SUVs in FY24 helped retains 41% MS

• Expect margins to hold 13% range

• Raise estimate by 1-3% factoring lower volumes but higher ASPs

• Stock trades at 24x FY26 P/E in line with 10year average

• Maintains 'Hold' on Godrej Properties

• Revised target at Rs 3,416 (+6.1% upside)

• Logged its best-ever Q1 pre-sales in Q1FY25 (bookings up 283% YoY)

• Collections up 54%, aims to launch ~22msf of projects in FY25

• Maintains new project additions guidance, GDV of ~Rs 20,000 cr

• Reckon sales momentum shall stay

• Cash flow generation key stock trigger

• Maintains Neutral, target Rs 1,850, downside 1.1%

• Alleged tax evasion of more than Rs320b in IGST

• Company believes that GST is not applicable on expenses incurred by overseas branch offices

• Company has mentioned in its press release that it is all compliant with GST regulations

• Maintains 'Neutral'

• Q1 Ebitda came in 3% ahead of estimates

• Higher volumes, lower costs offset impact of weaker blended realizations

• E-auction realizations were Rs 2440 per tonne, down 4% QoQ

• E-auction coal accounted for 12% of volumes vs 11% in 4Q, 9% last year

• Expect e-auction prices to correct as company plans to increase e-auction share to 35% in 2Q and 3Q

• Financial sector seeing transition which will alter investment landscape

• Early scale up for insurance and asset management products

• Annual household savings to go from $650 billion to $1 trillion by 2030

• Prefer private insurers over asset managers given cyclicality

• More valuation comfort for life insurers

• Like insurers with distribution strength, captive bank distribution

• LIC is a share donor but has supportive valuations

• Like insurance distributors with strong economics

• PB Fintech has exposure to the best part of the value chain

• AMCs have high exposure to market cycles

• Nuvama downgrades Ambuja Cements to HOLD, cuts target to Rs 722 target

• Q1FY25 Ebitda down 23% YoY, stood 14% below consensus estimates

• Volumes impacted by elections, heatwaves and early rainfall in certain regions

• Realisation down 7% YoY due to weak pricing environment

• Board approved set up of 14 cement grinding units with combined capacity of 28 MTPA

• FY25 capex at Rs 10000 crores

• Upside on stock capped on weak pricing environment, uptick in stock

• Raises target by 22% to Rs 213 target 11.6% downside

• Downgrade rating give stock's lofty valuations

• Q1 EBITDA up 27% QoQ, beating brokerage estimate by 11%

• Natural gas marketing Ebitda doubled on movement of cargoes to high-margin domestic market

• Believe elevated natural gas marketing earnings are unsustainable

• Valuations have outpaced expected growth, making risk-reward unattractive

• Raise FY25/26 Ebitda estimates by 10%/1%

Indian Overseas Bank sanctions ‘one time settlement’ proposed by co to settle outstanding dues

Source: Exchange Filing

• Ex/record Dividend: Greaves Cotton, Kirloskar Oil Engines, Hero MotoCorp, Karur Vysya Bank, MPS, Esab India, Tasty Bite Eatables, Oberoi Realty, Aditya Birla Sun Life AMC.

• Ex/record AGM: Kirloskar Oil Engines, Hero MotoCorp, MPS, Bajaj Consumer Care, UGRO Capital, Esab India, Aditya Birla Sun Life AMC, Lyka Labs, Tips Industries.

• Moved in short-term Framework: Ambika Cotton Mills, NRB Industrial Bearings, Nuvama Wealth Management, and PC Jeweller.

• Moved out short-term Framework: Bhansali Engineering Polymers.

• Hatsun Agro Product: Promoter R. G. Chandramogan revoked a pledge for 63.73 lakh shares on July 30.

• Sigachi Industries: Promoter Amit Raj Sinha created a pledge for 25 lakh shares on July 16.

• SIS: Capital Group Affiliates sold 62.26 lakh shares (4.31%) at Rs 415.02 apiece, while 360 One Mutual Fund A/C-360 One Focused Equity Fund bought 29.84 lakh shares (2.07%) at Rs 415 apiece, and Abu Dhabi Investment Authority Stable bought 21.95 lakh shares (1.52%) at Rs 415 apiece.

• Protean eGov Technologies: Citicorp Finance (India) sold 6.6 lakh shares (1.63%) at Rs 1833.32 apiece.

• Graphite India: Quant Mutual Fund sold 14.56 lakh shares (0.74%) at Rs 520 apiece.

• Tanla Platforms: Ponguleti Harsha Reddy sold 7.74 lakh shares (0.57%) at Rs 990.42 apiece.

Abu Dhabi, 360 One Mutual Fund Buy Stake In SIS Worth Rs 258 Crore

Tata Steel Sets Aside Rs 17,347 Crore Towards Mineral Tax After Supreme Court Ruling

Coal India Q1 Results: Profit, Revenue Rise In Line With Estimates