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Market breadth was skewed in the favour of buyers. Around 2,118 stocks rose, 1,795 fell, and 110 remained unchanged on the BSE.
Gets LoI for procurement of LFVDS from Cochin Shipyard for Rs 268 crore
LFDS stands for Low Frequency Variable Depth Sonar
Source: Exchange filing
Revenue flat at Rs 616 crore vs Rs 615 crore
Net profit down 89% at Rs 3.25 crore vs Rs 29 crore
EBITDA margin at 12.8% vs 17%
EBITDA down 25% at Rs 79 crore vs Rs 104 crore
Revenue up 1% at Rs 1,195 crore vs Rs 1,182 crore
Net profit down 52% at Rs 13 crore vs Rs 27 crore
EBITDA margin at 14.3% vs 14.1%
EBITDA up 2.6% at Rs 171 crore vs Rs 167 crore
Total income up 14% at Rs 534 crore vs Rs 469 crore
Net profit up 17% at Rs 274 crore vs Rs 234 crore
Total income up 7% at Rs 1,822 crore vs Rs 1,699 crore
Net profit up 24% at Rs 439 crore vs Rs 353 crore
US Food and Drug Adminstration conducts GMP inspection at Gland Pharma Ltd.'s Dundigal facility in Hyderabad, issues two 483 observations.
Source: Exchange filing
Net profit rose 10.5% on the year at Rs 3,905 crore vs Rs 3,535 crore
Gross NPA 4.14% vs 4.23% (QoQ)
Net NPA 1.24% vs 1.27% (QoQ)
NII rose 6% on the year at Rs 9,166 crore vs Rs 8,666 crore
NII up 19% at Rs 942 crore vs Rs 793 crore YoY
Gross NPA 2.52% vs 2.23% QoQ
Net NPA 0.41% vs 0.28% QoQ
Net profit down 7% at Rs 301 crore vs Rs 324 crore YoY
Gets Rs 321 crore LoI for project consultancy work for hospital construction in Amravati, Maharashtra
Source: Exchange Filing
Approves acquisition of Dakshin Foundry for Rs 153 crore
Source: Exchange filing
Dee Development Engineers Ltd. got an order worth $5.9 million from John Zink Co.
Source: Exchange filing
Revenue up 27% at Rs 1,222 crore vs Rs 960 crore
Ebitda down 0.8% at Rs 91.6 crore vs Rs 92.3 crore
Ebitda margin at 7.5% vs 9.6%
Net profit down 2.5% at Rs 77 crore vs Rs 79 crore
Revenue up 3.3% at Rs 4,814 crore vs Rs 4,659 crore
Ebitda up 5.6% at Rs 1,115 crore vs Rs 1,056 crore
Margin at 23.2% vs 22.7%
Net profit up 7% at Rs 747 crore vs Rs 698 crore
H.G. Infra Engineering Ltd. has emerged as the lowest bidder for Transport Ministry project worth Rs 763 crore.
Source: Exchange filing
Tata Power Co.'s unit TP Renewable Microgrid signs MoU with National Dairy Development Board.
MoU for facilitating initiatives for renewable energy technologies within dairy value chain.
Source: Exchange filing
Revenue rose 8% at Rs 742 crore vs Rs 687 crore
Ebitda rose 16.2% at Rs 194 crore vs Rs 167 crore
Margin at 26.1% vs 24.3%
Net profit rose 6.3% at Rs 102 crore vs Rs 96 crore
RBL Bank Falls To Nearly Two-Month Low As Baring PE Asia Exits
Axis Bank Shares Lowest In Over A Month On Q1 Profit Miss, Asset Quality Drop
Market breadth was evenly split between buyers and sellers. Around 1,484 stocks advanced, and 1,471 stocks declined, and 113 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was 182.55 points or 0.75% lower at 24,230.95, and the S&P BSE Sensex was 280.16 points or 0.35% down at 80,148.88.
The yield on the 10-year bond opened flat at 6.97%.
It closed at 6.96% on Wednesday.
Source: Cogencis
The local currency opened flat at 83.71 against the US dollar.
It closed at 83.71 on Wednesday.
Source: Bloomberg
Revenue Intelligence officials conducted search at R R Kabel Ltd.'s Waghodia plant.
Nothing was seized or impounded in the search.
Source: Exchange filing
Bernstein Maintains Outperform Rating on Larsen & Toubro Ltd.
Price target of Rs 3,800, which implied a 8% upside
Order inflow growth of 8% higher than expectations despite elections
Order inflow and margins in-line to meet full year guidance
Soft order prospects pipeline of Rs 9.07 trillion vs Jun'23
Remains positive in medium term on back of capex in India and M.East
Nuvama retains 'Buy' on Axis bank, with a target price Rs 1,430 compared to Rs 1,500 earlier, which implied a 15%
The company delivered miss on core income
NII ex-tax refund was up 1% QoQ
NIM adjusted for tax refund is 3.99%
Credit cost rose to 1% from 50bp YoY
Retain ‘BUY’ as Axis continues to trade at a discount to peers
Quarter of lower recoveries and higher provisions on unsecured loans
Nuvama maintained 'Buy' on CG Power And Solutions Ltd. and raised the target to Rs 820 target, which implied a 17% upside.
Q1 EBITDA/PAT beat street estimates by 8%/6%
Beat led by stellar growth in the power segment
Power & Railways continue to be high-growth areas, whereas motors has been weak since Q4FY2
Company on of the few suppliers of HV transformers
Key variable to watch out for: De-stocking impact expected to diminish in H2FY25
Entry in new forays- OSAT, Kavach remains positive and margin accretive
Nuvama downgrades Suzlon Energy to 'Hold', at Rs 64 target, which implied a 5% upside.
Company posted strong Q1 with operating margins surpassing estimates
Ramped up in execution to 274 MW aided 50% YoY top-line growth
Remain long term positive, but uptick in orders/profits factored in valuations
Expect execution at 1.4/2.4/3GW for FY25E/26E/27E
Expect form to remain key beneficiary of rising mix of FDRE/RTC/Hybrid in GoI tenders
Nuvama maintained a 'Buy' on Petronet LNG Ltd. and raised the target to Rs 412 target, which implied an 18% upside.
Q1 Ebitda grew 32% YoY, beat brokerage/ consensus estimates 17–20%
Volumes grew 14% YoY to 5.1 MMT led by higher third-party sales
Utilisation likely to remain elevated at 100% in FY25
Management aims to add 4 MMPTA FSRU terminal at Rs 2300 crore in Gopalpur by Fy27
Believe Dahej terminal expansion project to be value accretive
Domestic LNG demand set to rise if India follows China with LNG trucks driving 40% YoY growth
Raise FY25E/26 Ebitda estimates by 1%/6%
Sets IPO price band in the range of Rs 646-679 per share
IPO to open on July 30, close on August 1, for retail investors
Source: Company announcement
Stocks Tumble As Wall Street Gets AI Wake-Up Call: Markets Wrap
RVNL Gets Rs 192 Crore Order From South Eastern Railway For Jharkhand Project
Mishtann Foods: Hiteshkumar Gaurishankar Patel sold 1.43 crore shares (1.34%) at Rs 16.86 apiece, Antara India Evergreen Fund Ltd. bought 1 crore shares (0.94%) at Rs 16.85 apiece.
VST Industries: Derive Trading & Resorts sold 2.62 lakh shares (1.7%) at Rs 4,102.57 apiece, Damani Estate and Finance sold 0.9 lakh shares (0.58%) at Rs 3,983.84 apiece.
Mishtann Foods: Promoter Hiteshkumar Gaurishankar Patel sold 2.36 lakh shares.
Apollo Micro Systems: Promoter Karunakar Reddy Baddam created a pledge for 6 lakh shares.
India Cements: Promoter EWS Finance & Investments revoked a pledge for 2.81 crore shares.
India Cements: Promoter EWS Finance & Investments created a pledge for 17.2 lakh shares.
Radhakishan Damani Sells Stake Worth Rs 142 Crore In VST Industries
State Bank Of India Signs MoU With UK's FCDO For Rs 8,102 Crore
Q1 Results Live Updates: Axis Bank Profit Up 4% But Asset Quality Sours; L&T Beat Estimates
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.jpeg?downsize=1080:540 "Stock Market Today: Nifty, Sensex End With Little Change After A Volatile Session; Axis Bank, ICICI Bank Drag")
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