Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.29% at 23,909.5 as of 6:58 am. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) rose 0.06% and 0.09% respectively.
Stock Market Recap
The Sensex closed 715 points, or 0.92%, lower at 76,755.05. The Nifty 50 fell 191 points, or 0.79%, to 23,906.25, marking the benchmarks' steepest decline in 10 sessions.
US Market Recap
US stocks traded on a mixed note in early trade on Wednesday as weakness in semiconductor stocks dragged the Nasdaq Composite and the S&P 500 lower, while the Dow Jones Industrial Average managed modest gains despite a sharp rally in crude oil prices.
As of 9:32 a.m. EDT, the Dow Jones Industrial Average was up 93.24 points, or 0.18%, at 52,317.88. The S&P 500 slipped 9.94 points, or 0.13%, to 7,499.26, while the Nasdaq Composite declined 120.61 points, or 0.47%, to 25,716.60.
Asian Market Update
Asian stock markets rose on Thursday, with gains across Japan, South Korea and Australia amid mounting geopolitical tensions in the Middle East and another rise in oil prices.
Japan's Nikkei 225 surged 1.22%, while South Korea's Kospi climbed 3.47%. Australia's ASX 200 advanced 1.06%, while China's Shanghai Composite slipped 0.01%.
Commodity Check
Oil prices continued to gain on Wednesday after Iran-backed Houthi militants claimed responsibility for attacks on two Saudi Arabian oil tankers in the Red Sea, heightening tensions in the Middle East and raising fresh concerns over global crude supplies.
Brent crude rose as much as 1.4% to trade above $95 a barrel, after closing at a six-week high in the previous session, while West Texas Intermediate (WTI) hovered near $88 a barrel.
Earnings And Updates
Dr. Reddy's Laboratories Q1
- Net profit down 68.7% to Rs 444 crore versus Rs 1,418 crore YoY.
- Revenue down 5.5% to Rs 8,100 crore versus Rs 8,572 crore YoY.
- Ebitda down 60.4% to Rs 861 crore versus Rs 2,173 crore YoY.
- Ebitda margin at 10.6% versus 25.3% YoY.
- Other income at Rs 355 crore versus Rs 290 crore YoY.
- Global generics revenue down 4.8% to Rs 7,208 crore YoY.
IndusInd Bank Q1
- Net profit up 46.5% to Rs 1,003 crore versus Rs 684 crore YoY.
- Net NPA at 0.95% versus 1.00% QoQ.
- Gross NPA at 3.25% versus 3.43% QoQ.
- NII up 1% to Rs 4,685 crore versus Rs 4,640 crore YoY.
- NIM at 3.57% versus 3.46% YoY.
- Operating profit up 1.2% to Rs 2,683 crore versus Rs 2,652 crore YoY.
- Provisions at Rs 1,340 crore versus Rs 1,484 crore QoQ.
- Provisions at Rs 1,340 crore versus Rs 1,738 crore YoY.
- NIM at 3.57% versus 3.39% QoQ, up 18 basis points.
UCO Bank Q1
- Net profit up 8.1% to Rs 656 crore versus Rs 607 crore YoY.
- Net NPA at 0.25% versus 0.27% QoQ.
- Gross NPA at 2.08% versus 2.17% QoQ.
- Provisions at Rs 235 crore versus Rs 326 crore QoQ.
- Provisions at Rs 235 crore versus Rs 616 crore YoY.
- NII up 17% to Rs 2,808 crore versus Rs 2,403 crore YoY.
- Global NIM at 3.05% versus 2.96% YoY.
- Domestic NIM at 3.24% versus 3.18% YoY.
IIFL Finance Q1 (Consolidated)
- Net profit at Rs 675 crore versus Rs 233 crore YoY.
- Total income up 33% to Rs 3,922 crore versus Rs 2,959 crore YoY.
HPCL Q1
- Net loss of Rs 11,526 crore versus a profit of Rs 4,902 crore QoQ.
- Revenue up 17.4% to Rs 1.4 lakh crore versus Rs 1.15 lakh crore QoQ.
- Ebitda loss of Rs 16,141 crore versus an Ebitda profit of Rs 8,979 crore QoQ.
- Average GRM at USD 23.8 per barrel versus USD 3.08 per barrel YoY.
Shoppers Stop Q1 (Consolidated)
- Net loss of Rs 14.3 crore versus a loss of Rs 15.7 crore YoY.
- Revenue up 11.2% to Rs 1,291 crore versus Rs 1,161 crore YoY.
- Ebitda up 9.2% to Rs 187 crore versus Rs 172 crore YoY.
- Ebitda margin at 14.5% versus 14.8% YoY.
Nippon Life AMC Q1 (Consolidated)
- Net profit up 30.9% to Rs 504 crore versus Rs 385 crore QoQ.
- Total income up 32.9% to Rs 937 crore versus Rs 705 crore QoQ.
HEG Q1 (Consolidated)
- Net profit up 16.7% to Rs 122 crore versus Rs 105 crore YoY.
- Revenue up 11.1% to Rs 681 crore versus Rs 613 crore YoY.
- Ebitda up 42.5% to Rs 151 crore versus Rs 106 crore YoY.
- Ebitda margin at 22.1% versus 17.2% YoY.
Waterways Leisure Q1 (Consolidated)
- Net profit down 34.4% to Rs 22.8 crore versus Rs 34.7 crore YoY.
- Revenue up 7.8% to Rs 190 crore versus Rs 176 crore YoY.
- Ebitda down 18.3% to Rs 44.9 crore versus Rs 55 crore YoY.
- Ebitda margin at 23.6% versus 31.2% YoY.
Schaeffler India Q1 (Consolidated)
- Ebitda margin at 18.1% versus 18.3% YoY.
- Ebitda up 16% to Rs 499 crore versus Rs 430 crore YoY.
- Revenue up 17.3% to Rs 2,761 crore versus Rs 2,353 crore YoY.
- Net profit up 13.5% to Rs 326 crore versus Rs 287 crore YoY.
- Appointed Amit Dinesh Bhalerao as COO.
Gandhar Oil Refinery Q1 (Consolidated)
- Net profit at Rs 192 crore versus Rs 26.2 crore YoY.
- Revenue up 91.8% to Rs 1,732 crore versus Rs 903 crore YoY.
- Ebitda at Rs 281 crore versus Rs 46 crore YoY.
- Ebitda margin at 16.2% versus 5.1% YoY.
- Declared an interim dividend of Rs 2 per share.
Oracle Financial Services Software Q1 (Consolidated)
- Net profit up 68.2% to Rs 1,416 crore versus Rs 842 crore QoQ.
- Revenue up 51.3% to Rs 3,125 crore versus Rs 2,065 crore QoQ.
- EBIT up 78.9% to Rs 1,862 crore versus Rs 1,041 crore QoQ.
- EBIT margin at 59.6% versus 50.4% QoQ.
- Makarand Padalkar resigned as MD & CEO.
- Appointed Manish Bhandari as CFO.
Geojit Financial Services Q1 (Consolidated)
- Net profit up 12.3% to Rs 198 crore versus Rs 176 crore QoQ.
- Total income down 11% to Rs 1,687 crore versus Rs 1,896 crore QoQ.
UTI AMC Q1 (Consolidated)
- Net profit at Rs 294 crore versus a loss of Rs 66.7 crore QoQ.
- Total income up 45.5% to Rs 585 crore versus Rs 402 crore QoQ.
CIE Automotive Q1 (Consolidated)
- Net profit up 15.8% to Rs 236 crore versus Rs 204 crore YoY.
- Revenue up 10.6% to Rs 2,621 crore versus Rs 2,369 crore YoY.
- Ebitda up 15.7% to Rs 390 crore versus Rs 337 crore YoY.
- Ebitda margin at 14.9% versus 14.2% YoY.
NTPC Green Q1 (Consolidated)
- Net profit up 38.2% to Rs 305 crore versus Rs 221 crore YoY.
- Revenue up 62.7% to Rs 1,109 crore versus Rs 680 crore YoY.
- Ebitda up 63.8% to Rs 989 crore versus Rs 604 crore YoY.
- Ebitda margin at 89.3% versus 88.7% YoY.
United Spirits Q1
- Net profit up 51.6% to Rs 391 crore versus Rs 258 crore YoY.
- Revenue up 6% to Rs 2,703 crore versus Rs 2,549 crore YoY.
- Ebitda up 4.1% to Rs 432 crore versus Rs 415 crore YoY.
- Ebitda margin at 16.0% versus 16.3% YoY.
- One-time loss at Rs 81 crore versus a loss of Rs 11 crore YoY.
Waaree Renewable Technologies Q1 (Consolidated)
- Net profit up 34.1% to Rs 116 crore versus Rs 86.4 crore YoY.
- Revenue up 53.2% to Rs 924 crore versus Rs 603 crore YoY.
- Ebitda up 47.6% to Rs 174 crore versus Rs 118 crore YoY.
- Ebitda margin at 18.8% versus 19.5% YoY.
Tanla Platforms Q1 (Consolidated)
- Net profit up 5.8% to Rs 142 crore versus Rs 134 crore QoQ.
- Revenue up 4.1% to Rs 1,226 crore versus Rs 1,178 crore QoQ.
- EBIT up 5.9% to Rs 168 crore versus Rs 159 crore QoQ.
- EBIT margin at 13.72% versus 13.49% QoQ.
Stocks In News
- Rubicon Research: Acquired its first US manufacturing facility in New Jersey for $2.9 million on 21 July 2026.
- Kajaria Ceramics: Extinguished 21.5 lakh shares following its buyback.
- IDBI Bank: Appointed Abhijit Chakravorty and Ketan Vikamsey as independent directors for two-year terms.
- Dr. Reddy's Laboratories: Appointed Dr. Sridevi Khambhampaty as Global Head of Biologics, Senior Management Personnel and a member of the Management Council, effective 22 July 2026.
- TVS Motor Company: Launched the TVS Raider motorcycle in Egypt, expanding its premium commuter motorcycle portfolio in North Africa.
- Inox Green Energy Services: Board approved a fundraise of up to Rs 600 crore.
- Siyaram Silk Mills: NCLT sanctioned the company's bonus preference share scheme on 21 July 2026.
- Sona BLW Precision Forgings (Sona Comstar): Signed definitive agreements with DENSO to form two India-based EV and hybrid powertrain joint ventures.
- Jeena Sikho Lifecare: Plans to set up a 60+ bed hospital in Kalyani, West Bengal, by October 2026 with an investment of around Rs 1.30 crore.
- Swan Defence and Heavy Industries: ICRA assigned a BBB (Stable) rating to Rs 2,650 crore of credit facilities.
- Emcure Pharmaceuticals: Completed the acquisition of the remaining 12.05% stake in Gennova Biopharmaceuticals for Rs 231.87 crore, making Gennova a wholly owned subsidiary.
- Sumeet Industries: Approved the allotment of 16.84 crore equity shares under its rights issue at Rs 11.86 per share, increasing paid-up equity share capital to Rs 138.95 crore.
- Oracle Financial Services Software: Appointed Avadhut Ketkar as Managing Director & CEO for a three-year term effective 24 July 2026 and Manish Bhandari as Chief Financial Officer.
- Geojit Financial Services: Appointed Jones George as Managing Director for a five-year term effective 1 October 2026. C. J. George will become Executive Chairman from the same date.
- Gandhar Oil Refinery (India): Appointed Shyam Chandrabhan Agrawal as an Independent Director for a five-year term.
- HCL Technologies: TIM Brasil selected HCLTech to enable South America's first cross-platform eSIM transfer capability using its Device Entitlement Gateway platform.
- Saatvik Green Energy: Its subsidiary Saatvik Solar Industries secured a domestic order worth Rs 138 crore for the supply of solar PV modules, with execution scheduled by December 2026.
- Azad Engineering: Delivered its first indigenous expendable turbojet engine to the DRDO and the Ministry of Defence.
- Sun TV Network: SunRisers Leeds approved 99,999 bonus shares to Sun TV Network on 21 July 2026.
- Sona BLW Precision Forgings (Sona Comstar): Board approved the slump sale of its EV business to Sona Comstar for Rs 893 crore. The company also entered into a share subscription agreement with Sona eDrive and DENSO, under which DENSO will acquire a 49% stake in Sona eDrive at an enterprise value of Rs 1,750 crore.
- Godrej Consumer Products: Invested Rs 200 crore in Godrej Pet Care through a rights issue, retaining 100% ownership.
- Bliss GVS Pharma: Independent Directors Committee recommended Anupam Rasayan's open offer for a 26% stake at Rs 299 per share, with a total consideration of Rs 829.03 crore.
- Jindal Poly Films: Step-down subsidiary JPF Netherlands Investment BV applied to strike off its wholly owned subsidiary JPF API Laminates UK.
- Saregama India: Acquired an additional 4.82% stake in Pocket Aces for approximately Rs 20.05 crore, taking its holding to 95.76%.
- Waaree Energies: Wholly owned subsidiary Waaree Solar Americas secured an international order to supply 125 MW of HJT solar modules, with deliveries scheduled during FY27.
- Signature Global: Acquired 0.38 million sq ft in Signature Global Sarvam on 22 July 2026.
- CIE Automotive India: Rajendra Vadlapudi resigned as CEO of the Iron Casting Division.
- UTI AMC: Selected P. V. Bharathi as Chairperson, effective 29 July 2026.
- Mahindra Lifespaces: World City Developers signed the second supplemental agreement with Sumitomo on 22 July 2026 to expand Chennai Phase 2B.
Block/Bulk Deals
BEPL: Junomoneta Finsol Pvt. Ltd. sold 7,197 shares at Rs 121.47 per share.
Bluestone Jewellery: Elixir Wealth Management Pvt. Ltd. sold 1,000 shares at Rs 790.92 per share. Junomoneta Finsol Pvt. Ltd. sold 1,918 shares at Rs 799.48 per share. QE Securities LLP bought 4,073 shares at Rs 796.93 per share.
Cyient DLM: HRTI Pvt. Ltd. bought 1.33 lakh shares at Rs 692.05 per share. Junomoneta Finsol Pvt. Ltd. bought 1,027 shares at Rs 697.04 per share. QE Securities LLP bought 15,271 shares at Rs 694.46 per share.
Huhtamaki India: Digvijay Finlease Ltd. bought 6.50 lakh shares at Rs 294.89 per share. Seetha Kumari sold 3.79 lakh shares at Rs 285.43 per share.
Jindal Worldwide: Junomoneta Finsol Pvt. Ltd. bought 77,707 shares at Rs 37.36 per share.
Sri Lotus Developers & Realty: Mansukh Securities & Finance Ltd. bought 2.88 lakh shares at Rs 160.08 per share.
Stallion India Fluorochemicals: Junomoneta Finsol Pvt. Ltd. bought 5,145 shares at Rs 246.08 per share. QE Securities LLP sold 22,544 shares at Rs 245.80 per share.
Board Meetings
Fund Raising
Aye Finance
Cemindia Projects
IIFL Capital Services
Corporate Action
ICRA Limited - Special Dividend of Rs. 35
Oberoi Realty Limited - Interim Dividend - Rs 2 Per Share
D.B.Corp Limited - Interim Dividend - Rs 5 Per Share
Bhansali Engineering Polymers - Interim Dividend - Re 1 Per Share
IPO Openings-
XtraNet Technologies: An Indian Information Technology (IT) company: Issue size of Rs. 166.80 Cr, The issue is entirely a fresh issue of 1.31 crore shares, IPO Opening 23rd July and closing on the 27th July, IPO listing on 30th July.
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
366.01 | 276.53 | 233.26 | |
40.73 | 30.03 | 10.94 | |
63.18 | 47.2 | 18.86 | |
EBITDA Margins | 17.26% | 17.07% | 8.09% |
Indo-MIM: Precision engineering manufacturer specializing in Metal Injection Molding (MIM): issue size of Rs. 3,811.21 Cr, Combination of fresh issue of 1.03 Cr shares and offer for sale of 6.83 Cr shares, IPO opening on the 23rd of July and closing on the 27th of July, IPO Listing on the 30th of July.
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
4,320.70 | 3,373.97 | 2,900.38 | |
533.54 | 423.73 | 283.73 | |
1,070.92 | 932.6 | 743.46 | |
EBITDA Margins | 24.79% | 27.64% | 25.63% |
Lohia Corp: global industrial machinery manufacturer. It designs and manufactures machines used to produce technical textiles and plastic woven products: Issue size of 1,101.28 Cr, Entirely offer for sale of 2.59 Cr shares, IPO opening on the 23rd of July and closing on the 27th of July, IPO Listing on the 30th of July.
Period Ended | 31 Mar 2026 | 31 Mar 2025 |
1,737.87 | 1,386.47 | |
193.45 | 117.84 | |
339.45 | 228.60 | |
EBITDA Margins | 19.53% | 16.49% |
AGM
Mahindra Life
Mphasis
Ador Welding
Coromandel Int
Craftsman
Harsha Engineer
Heritage Foods
Bharat Bijlee
Canara Robeco
ITC
Hindalco
Oracle Fin Serv
Cera Sanitary
CM
Dr Reddys Labs
RPG Life
Windlas Biotech
Earnings
Chennai Petroleum Corporation
Cipla
Coromandel International
Cyient
Fineotex Chemical
Fractal Analytics
Go Digit General Insurance
Indian Energy Exchange
International Gemological Institute
InterGlobe Aviation
Infosys
Mahindra Lifespace Developers
Meesho
Motilal Oswal Financial Services
Mphasis
NIIT Learning Systems
Novartis India
Orient Cement
Route Mobile
Solara Active Pharma Sciences
Sona BLW Precision Forgings
Spandana Sphoorty Financial
Thyrocare Technologies
Ujjivan Small Finance Bank
Vishal Mega Mart
Allied Blenders and Distillers
Gujarat Alkalies and Chemicals
PVR INOX
List of securities shortlisted in Short - Term ASM Framework Stage
Mrs. Bectors Food Specialities
eClerx Services
IKIO Technologies
List of securities to be excluded from ASM Framework
C.E. Info Systems
ALSO READ: Trade Setup For July 23: Nifty Support Slides To 23,800 Amid Spike In Oil Prices | Check Key Levels
F&O Cues
- Nifty July Futures is down 0.82% to Rs. 23982 at a discount of Rs. 14.
- Maximum Call OI at 25500 strike and Maximum Put OI at 24000 strike.
- Stocks Under Ban - Kaynes
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