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Nifty 50 closed at 24,268.50 (276.0, 1.2%), BSE Sensex closed at 79,349.06 (756.0, 1.0%) while the broader Nifty 500 closed at 22817.05 (373.8, 1.7%). Market breadth is surging up. Of the 2,217 stocks traded today, 1,817 were in the positive territory and 373 were negative.

Indian indices maintained the gains from the morning session and closed in the green. The Indian volatility index, Nifty VIX, fell 13.5% and closed at 16.2 points. TVS Motor rose sharply to an all-time high of Rs 2,618 as its revenue increased 14.9% YoY to Rs 10,406.9 crore for Q1FY25 and net profit rose 6.1% YoY to Rs 460 crore during the quarter.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty CPSE and Nifty PSE were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 5.1%.

Asian indices closed in the green. European indices are trading in the green, except Russia’s RTSI and MOEX which are trading in the red. US index futures are trading in the green, indicating a positive start to the trading session. Brent crude oil futures are trading higher.

• Relative strength index (RSI) indicates that stocks like Granules India, PBCL, Colgate-Palmolive (India), and Ajanta Pharma are in the overbought zone.

• Venky's (India) surges to its 20% upper circuit as its Q1FY25 net profit grows 3.9x YoY to Rs 75.2 crore, helped by reduced raw materials and finance costs. However, revenue declines by 17% YoY to Rs 818.5 crore due to a decrease in the oilseed segment. It appears in a screener of stocks with price above short, medium and long term moving averages.

• Pidilite Industries rises sharply as its revenue grows 3.7% YoY to Rs 3,395.4 crore in Q1FY25, driven by strong performance in consumer & bazaar and B2B segment. Net profit rises 20.6% YoY to Rs 571.3 crore during the quarter. It appears in a screener of stocks with book value per share improving in last two years.

• BASF rises sharply to its all-time high of Rs 6,933.1 as its Q1FY25 net profit rises 95.7% YoY to Rs 220.6 crore due to lower inventory and finance costs. Revenue grows 17.5% YoY to Rs 3,966.9 crore during the quarter. The company appears in a screener of stocks with high momentum scores.

• Foreign Portfolio Investors (FPIs) invest Rs 32,365 crore ($3.87 billion) in Indian equities in July, marking the second-largest monthly inflow of 2024. The highest inflows this year occurred in March at Rs 35,098 crore, while June saw inflows of Rs 26,565 crore. Vipul Bhowar, Director at Waterfield Advisors, attributes the rebound in FPI inflows to India’s stable political environment, ongoing economic reforms, and appealing market valuations.

  Foreign Portfolio Investors infused a total of ?32,365 crore, or $3.87 billion, into Indian equities in July, marking the second-highest monthly inflows in 2024.
  
  (@anky_gohel reports) https://t.co/FDAC7lYaxG

  — Mint (@livemint) August 7, 2024

• ICICI Direct keeps its 'Buy' call on Coal India with a higher target price of Rs 650 per share. This indicates a potential upside of 22.8%. The brokerage remains positive on the stock due to healthy volume growth, and diversification efforts in new sunrise spaces. It expects the company's revenue to grow at a CAGR of 7% over FY25-26.

• PI Industries rises sharply as its revenue grows 8.3% YoY to Rs 2,068.9 crore in Q1FY25, driven by its agrochemicals segment. Net profit rises 17.2% YoY to Rs 448.8 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

• Gulf Oil Lubricants India rises sharply as its Q1FY25 net profit rises 26.5% YoY to Rs 86 crore due to lower inventory costs. Revenue grows 10.1% YoY to Rs 894 crore during the quarter. The company appears in a screener of stocks with improving cash flow from operation over the last two years.

• Dilip Asbe, MD and CEO of the National Payments Corporation of India (NPCI), reports that credit card transactions via the Unified Payments Interface (UPI) have reached Rs 10,000 crore. Of this amount, around Rs 100 to Rs 200 crore are attributable to credit line transactions on UPI. He clarifies that these credit lines are pre-approved, short-term, small-ticket loans. Although the adoption of credit lines has been gradual, NPCI is not concerned about the scale of their uptake.

  #Credit on #UPI touched ?10,000 crore, says #NPCI CEO Dilip Asbehttps://t.co/OfFtLG1qKk

  — Economic Times (@EconomicTimes) August 7, 2024

• Cummins India rises sharply as its net profit grows by 30.8% YoY to Rs 462.6 crore in Q1FY25 owing to reduced inventory and employee benefits expenses. Revenue increases by 4.9% YoY to Rs 2,419.3 crore, helped by an improvement in the engines and lubricants segments. The company's Managing Director, Ashwath Ram, resigns effective August 31 to take on a full-time global role with Cummins USA.

• TVS Motor rises sharply to an all-time high of Rs 2,618 as its revenue rises 14.9% YoY to Rs 10,406.9 crore for Q1FY25, driven by improvements in its vehicles and financial services segments. Net profit for the quarter rises 6.1% YoY to Rs 460 crore. The stock appears in a screener of stocks outperforming their industry price change during the quarter.

• AIA Engineering rises sharply as its board of directors approves the buyback of 10 lakh shares at Rs 5,000 per share, totaling Rs 500 crore. The record date is set for August 20.

• NMDC cuts the price of iron ore lumps by Rs 600, bringing it down to Rs 5,350 per tonne. Similarly, the price of iron ore fines has been reduced by Rs 500, now standing at Rs 4,610 per tonne, down from Rs 5,110 per tonne.

  ????NMDC lowers the price of iron ore lump by Rs 600, bringing it down to Rs 5,350 per tonne from Rs 5,950 per tonne.
  
  Read on ????https://t.co/2zrtFCXoFk#NMDC#IronOre

  — Moneycontrol (@moneycontrolcom) August 7, 2024

• Shyam Metalics and Energy's stainless steel sales rise 37% YoY to 5,699 tonnes in July. However, aluminium foil sales decline marginally on a YoY basis to 1,571 tonnes. The company's speciality alloys sales grows 12% YoY, carbon sales decrease by 4% YoY, and sponge iron sales decrease by 4% YoY while that of pellets increase by 2% YoY.

• Welspun Corp rises after its associate, East Pipes Integrated Company, secures contracts worth Rs 525 crore for manufacturing, supplying and coating steel pipes over a 24-month period.

• Bosch's revenue increases 3.8% YoY to Rs 4,316.8 crore in Q1FY25, driven by improvements in the automotive and consumer goods segments. Net profit rises by 13.9% YoY to Rs 466 crore during the quarter, helped by inventory destocking. It appears in a screener of stocks with quarterly net profit growth and increasing profit margins.

• Reports suggest that the Indian government is reassessing its plans for an offer for sale (OFS) of Hindustan Zinc, which is expected to be done in FY25. The government is considering diluting its stake in the company in tranches.

  Govt Reassessing plans for a #HindZincOFS, OFS likely before FY25 concludes
  
  Government plans to dilute stake in Hindustan Zinc in tranches
  
  Sources to @Sapna_CNBCpic.twitter.com/kx2iF9loFU

  — CNBC-TV18 (@CNBCTV18Live) August 7, 2024

• Gland Pharma falls sharply as its net profit declines 25.9% YoY to Rs 143.8 crore in Q1FY25 due to higher inventory, employee benefits, and finance costs. However, revenue increases 16.6% YoY to Rs 1,453.1 crore on account of growth in the USA, Europe, Canada, Australia and New Zealand. It shows up in a screener of stocks with negative profit growth and promoters decreasing shareholding.

• GR Infraprojects emerges as the lowest bidder for establishing a transmission scheme on a build, own, operate, and transfer basis for integration of Tumkur?II REZ in the state of Karnataka.

• Gujarat Gas' Q1FY25 net profit rises 53.1% YoY to Rs 330.7 crore due to reduction in spot gas prices and increase in volumes. Revenue grows 17.7% YoY to Rs 4,450.3 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Nuvama initiates a 'Buy' rating on JTL Industries with a target price of Rs 303. The brokerage highlights the firm's volume growth, margin expansion, and increased capacity. It projects a strong profit CAGR of 38% for FY25–27, driven by capacity expansion and a better product mix. However, Nuvama also warns of potential risks, including a possible slowdown in the economy or the steel sector and fluctuations in steel prices.

  #Nuvama Institutional Equities initiates coverage on #JTLIndustries with a 'buy' rating.
  
  Read more to know why ??https://t.co/6dtP3TAcyS

  — NDTV Profit (@NDTVProfitIndia) August 7, 2024

• Lupin surges to a new 52-week high of Rs 2,030 per share as its net profit rises 77.2% YoY to Rs 801.3 crore in Q1FY25, helped by reduced inventory and finance costs. Revenue increases 17.2% YoY to Rs 5,668.1 crore, driven by a rise in the India, North America, Europe, the Middle East and Africa (EMEA) and active pharmaceutical ingredient (API) businesses. It appears in a screener of stocks with improving return on equity (RoE) over the past two years.

• Bata India's Q1FY25 net profit rises 62.8% YoY to Rs 174.1 crore. However, revenue falls 1.4% YoY to Rs 944.6 crore due to the elections and extreme heat wave during the last quarter. The company appears in a screener of stocks with increasing profits every quarter for the past 3 quarters.

• Suzlon Energy rises sharpy as its board of directors approves the acquisition of a 76% stake in Renom Energy Services for a total consideration of Rs 660 crore.

• Tata Power rises as its Q1FY25 revenue grows by 13.3% YoY to Rs 17,541 crore, driven by an improvement in the generation, renewables and transmission & distribution (T&D) segments. However, net profit remains flat at Rs 971.9 crore due to higher power, fuel, transmission, raw materials and employee benefits expenses. It features in a screener of stocks with improvement in cash flow over the past two years.

• Markets rise on early trading, Nifty 50 was trading at 24283.55 (291, 1.2%) , BSE Sensex was trading at 79464.49 (871.4, 1.1%) while the broader Nifty 500 was trading at 22728.55 (285.3, 1.3%)

• Market breadth is overwhelmingly positive. Of the 1895 stocks traded today, 1715 were on the uptrend, and 159 went down.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (616.35, 7.9%), Oil And Natural Gas Corporation Ltd. (327.90, 7.1%) and Cummins India Ltd. (3,766.55, 6.9%).

Downers:

Largecap and midcap losers today include Gland Pharma Ltd. (2,032, -3.6%), Shree Cements Ltd. (25,389.60, -2.7%) and IndusInd Bank Ltd. (1,343.35, -2.7%).

Volume Shockers

8 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included BASF India Ltd. (6,933.15, 20%), Cochin Shipyard Ltd. (2,378.25, 3.8%) and VIP Industries Ltd. (448.10, 0.9%).

Top high volume losers on BSE were EIH Ltd. (374.95, -5.5%), Gland Pharma Ltd. (2,032, -3.6%) and Shree Cements Ltd. (25,389.60, -2.7%).

Sapphire Foods India Ltd. (1,648.65, -0.5%) was trading at 8.8 times of weekly average. AIA Engineering Ltd. (4,439.90, -0.5%) was trading with volume 3.3 times weekly average on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks made 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,938.60, 5.4%), Akzo Nobel India Ltd. (3,225.15, 3.9%) and Atul Ltd. (8,021.20, 3.3%).

Stocks making new 52 weeks lows included - IndusInd Bank Ltd. (1,343.35, -2.7%) and Equitas Small Finance Bank Ltd. (79.20, 0.0%).

14 stocks climbed above their 200 day SMA including Alok Industries Ltd. (26.23, 4.6%) and Aster DM Healthcare Ltd. (395.45, 4.3%). 7 stocks slipped below their 200 SMA including EIH Ltd. (374.95, -5.5%) and Bata India Ltd. (1,463.80, -3.4%).

Nifty 50 closed at 23,992.55 (-63.1, -0.3%), BSE Sensex closed at 78,593.07 (-166.3, -0.2%) while the broader Nifty 500 closed at 22,443.30 (-99.2, -0.4%). Market breadth is in the red. Of the 2,232 stocks traded today, 820 were on the uptick, and 1,382 were down.

Indian indices erased their gains from the morning session and close in the red. The volatility index, Nifty VIX, plunged 8% and closed at around 18.7 points. Vedanta closed marginally higher as its revenue increased by 5.5% YoY to Rs 35,764 crore in Q1FY25, while net profit rose 54% YoY to Rs 5,095 crore.

Nifty Midcap 100 and Nifty Smallcap 100 closed lower following the benchmark index. BSE Realty closed in the green, while Nifty PSU Bank closed in the red. According to Trendlyne’s sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a rise of 2.4%.

European indices traded lower amid weak global cues. Major Asian indices closed mixed. US index futures traded mixed, indicating a cautious start to the trading session. Alphabet lost its antitrust case on Monday as a federal judge ruled that the company had violated antitrust laws by engaging in monopolistic tactics in its search business.

• Money flow index (MFI) indicates that stocks like Ajanta Pharma, PCBL, Jubilant Pharmova, and Granules India are in the overbought zone.

• NCC's Q1FY25 net profit grows 20.9% YoY to Rs 209.9 crore. Revenue rises 26.2% YoY to Rs 5,528 crore during the quarter, driven by high sales in the construction segment. The company appears in a screener of stocks with improving return on equity (ROE) over the last two years.

• Vedanta's revenue increases 5.5% YoY to Rs 35,764 crore in Q1FY25, driven by improvements in zinc, lead & silver, and aluminium segments. Net profit rises 54% YoY to Rs 5,095 crore during the quarter, helped by inventory destocking. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

• Motherson Sumi Wiring India's revenue increases 16.7% YoY to Rs 2,184.8 crore in Q1FY25. Net profit rises 20.9% YoY to Rs 148.9 crore during the quarter, helped by inventory destocking. It shows up in a screener of stocks with growth in quarterly net profit with increasing profit margin.

• Unicommerce eSolutions' Rs 276.6 crore IPO gets bids for 1.7X the available 4.1 crore shares on offer on the first of bidding. The retail investor quota gets bids for 7.6X the available 25.6 lakh shares on offer.

• Consumer goods manufacturers like Marico and Britannia Industries highlight improved rural demand trends in Q1FY25, with companies reporting increased sales of their products in recent months. They attribute this positive change to better monsoon conditions, moderate inflation, and improved rural employment.

  #Marico Ltd and #Britannia Industries Ltd said rural demand trends improved in the June quarter, as companies reported better sales of their products in the past few months.
  
  (@suneeratweets reports) https://t.co/YbziGyrZYw

  — Mint (@livemint) August 6, 2024

• Brainbees Solutions' Rs 4,193.7 crore IPO gets bids for 0.1X the available 5 crore shares on offer on the first of bidding. The retail investor quota gets bids for 0.4X the available 90.1 lakh shares on offer.

• Ola Electric Mobility's Rs 6,145.6 crore IPO gets bids for 2.1X the available 46.5 crore shares on offer on the third of bidding. The retail investor quota gets bids for 3.6X the available 8.5 crore shares on offer.

• Axis Direct retains its 'Buy' call on State Bank of India with a higher target price of Rs 1,030 per share. This indicates a potential upside of 26.8%. The brokerage believes the company's net interest income (NII) will continue to grow, driven by a healthy credit-deposit (CD) ratio and improved asset quality. It expects the bank's NII to grow at a CAGR of 8.9% over FY25-27.

• Infosys reportedly seeks an additional ten days to respond to the pre-show cause notice issued by the Directorate General of GST Intelligence (DGGI). The company clarified that the tax demand for FY17-2018 stands at Rs 3,898 crore. Infosys had received a tax demand of over Rs 32,000 crore related to services received from its overseas branches between July 2017 and FY21-22.

  #Infosys seeks 10 days to reply to central #GST authority’s pre-show causehttps://t.co/agTJRdA7Ej

  — CNBC-TV18 (@CNBCTV18Live) August 6, 2024

• Bharti Hexacom's Q1FY25 net profit surges by 101.9% YoY to Rs 511.2 crore, helped by a 79.4% YoY decline in current tax. Revenue grows by 10.7% YoY to Rs 19,50.5 crore, owing to improvements in mobile services and home & office services segments. It shows up in a screener of stocks with expensive valuations according to the Trendlyne valuation score.

• BLS International surges almost 10% as its net profit grows by 65.7% YoY to Rs 114.2 crore in Q1FY25. Revenue increases 30.6% YoY to Rs 510.2 crore, attributed to a rise in the visa & consular services and digital services segments. The company's board approves fundraising of Rs 2,000 crore through public or private offerings, qualified institutional placements (QIP), or other modes.

• Housing and Urban Development Corp (HUDCO) surges as it signs a non-binding memorandum of understanding (MoU) with Rites to collaborate on a broad spectrum of consultancy and fee-based projects, covering all stages from concept to commissioning.

• Rajesh Sharma, Managing Director of Capri Global Capital, projects net interest income (NII) growth of 30-35% for the year and expects net interest margins (NIMs) to improve going ahead. He guides an asset under management (AUM) of Rs 20,000-21,000 crore for FY25. Sharma highlights the firm's target of around $40-50 crore of insurance distribution this year.

  #OnETNOW | "See NII rising by 30-35% for the year; NIMs are expected to improve going ahead" says Rajesh Sharma of Capri Global@rajeshsharma_48@CapriGlobalCappic.twitter.com/9i1pw7H44K

  — ET NOW (@ETNOWlive) August 6, 2024

• V-Mart Retail rises sharply as its revenue grows by 15.9% YoY to Rs 786.1 crore in Q1FY25, driven by improvement in the retail trade segment. It reports a net profit of Rs 12.1 crore in Q1FY25 compared to a net loss of Rs 21.9 crore in Q1FY24. It shows up in a screener of stocks outperforming their industry price change during the quarter.

• Power Mech Projects receives an order worth Rs 110.6 crore from Dangote Petroleum Refinery for the operation and maintenance (O&M) of a 400 MW captive power plant (CPP) and utilities of petroleum oil refinery at Dangote, Nigeria.

• Oil & Natural Gas Corp's Q1FY25 net profit falls sharply by 32.1% YoY to Rs 9,936.5 crore due to higher raw materials, inventory, survey & exploration, finance costs, and statutory levies. However, revenue grows by 1.9% YoY to Rs 1.7 lakh crore, helped by improvements in the offshore, onshore, and refining & marketing segments. It features in a screener of stocks with declining profits for the past three quarters.

• JP Morgan maintains its 'Overweight' rating on Bharti Airtel with a target price of Rs 1,500 per share. The brokerage notes that capital expenditures on India wireless and overall have decreased to 19% and 20%, respectively, for Q1FY25. It believes this reduction in capex will boost the firm's free cash flow from its India operations by 30% sequentially and 83% YoY.

  Moderation in #BhartiAirtel's capital expenditure in India and healthy free cash flow have enhanced outlook for earnings, say analysts.
  
  Read more ??https://t.co/5aWi5IpBZa

  — NDTV Profit (@NDTVProfitIndia) August 6, 2024

• Akums Drugs and Pharmaceuticals' shares debut on the bourses at a 6.8% premium to the issue price of Rs 679. The Rs 1,856.7 crore IPO has received bids for 63.6 times the total shares on offer.

• Brigade Enterprises rises sharply as its net profit surges by 117.3% YoY to Rs 83.7 crore in Q1FY25. Revenue grows by 62.4% YoY to Rs 1,113.4 crore, driven by an increase in the real estate, hospitality, and leasing segments. The company's subsidiary, Brigade Tetrarch, enters an agreement to develop 1.4 million square feet of leasable office space. The space will generate an annual income of Rs 100 with an investment of Rs 750 crore.

• Patel Engineering rises as it bags a Rs 317.6 crore contract, along with its JV partner for an irrigation project from the Government of Maharashtra. The company's share in this contract is worth Rs 111.2 crore.

• Jefferies maintains its ‘Buy’ call on Marico with an upgraded target price of Rs 780. The brokerage highlights the improving growth trends, positive outlook, and improved volume growth. Jefferies adds that the growth outlook remains positive, however, the situation in Bangladesh needs to be monitored.

  Brokerage Radar | Jefferies on Marico: Maintain Buy; Hike target price to Rs 780 from Rs 650@Jefferiespic.twitter.com/fB19rZsQkK

  — ET NOW (@ETNOWlive) August 6, 2024

• Aster DM Healthcare's CEO, Nitish Shetty, tenders his resignation, effective August 5, to pursue entrepreneurial opportunities.

• Deepak Nitrite surges as its Q1FY25 net profit rises 35.1% YoY to Rs 202.5 crore, driven by lower inventory and material costs. Revenue grows 22.5% YoY to Rs 2,166.8 crore during the quarter due to higher sales from the phenolics segment. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Tata Chemicals' net profit plunges by 74.2% YoY to Rs 135 crore in Q1FY25, caused by higher employee benefits and freight & forwarding expenses. Revenue declines by 10.1% YoY to Rs 3,836 crore due to a decrease in the basic chemistry products and specialty products segments. It shows up in a screener of stocks underperforming their industries in the past quarter.

• Bharti Airtel's Q1FY25 net profit rises 157.9% YoY to Rs 4,159.9 crore due to lower net exceptional items. Revenue rises 2.8% YoY to Rs 38,506.4 crore during the quarter. The company appears in a screener of stocks with zero promoter pledge.

• Markets rise on early trading, Nifty 50 was trading at 24,339.65 (284.1, 1.2%), BSE Sensex was trading at 79,705.23 (945.8, 1.2%) while the broader Nifty 500 was trading at 22,867.80 (325.4, 1.4%).

• Market breadth is ticking up strongly. Of the 1,955 stocks traded today, 1,784 showed gains, and 141 showed losses.

Riding High:

Largecap and midcap gainers today include Patanjali Foods Ltd. (1,761.90, 4.5%), Godrej Properties Ltd. (2,934.10, 3.5%) and Ipca Laboratories Ltd. (1,319.35, 2.8%).

Downers:

Largecap and midcap losers today include Marico Ltd. (628.50, -6.5%), LIC Housing Finance Ltd. (651.85, -5%) and Power Finance Corporation Ltd. (474.05, -4.8%).

Crowd Puller Stocks

16 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included KPR Mill Ltd. (945.55, 14.4%), BLS International Services Ltd. (385.10, 10.1%) and Schneider Electric Infrastructure Ltd. (788.65, 5.2%).

Top high volume losers on BSE were Honeywell Automation India Ltd. (51,200, -3.6%), Shree Cements Ltd. (26,101.35, -2.7%) and Ingersoll-Rand (India) Ltd. (4,002.70, -0.9%).

Vardhman Textiles Ltd. (519, 4.0%) was trading at 10.6 times of weekly average. Welspun Living Ltd. (180.09, 3.3%) and Triveni Turbine Ltd. (619.45, 4%) were trading with volumes 6.4 and 5.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks hit their 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,779.90, -2.2%), Cera Sanitaryware Ltd. (9,833.60, 4.2%) and Colgate-Palmolive (India) Ltd. (3,390, 0.7%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (79.22, -1.7%).

21 stocks climbed above their 200 day SMA including Network18 Media & Investments Ltd. (93.98, 7.1%) and NMDC Steel Ltd. (55.99, 3.8%). 20 stocks slipped below their 200 SMA including Mahindra Lifespace Developers Ltd. (564.75, -3.1%) and Bank of India (118.93, -2.8%).

Nifty 50 closed at 24,055.60 (-662.1, -2.7%), BSE Sensex closed at 78,759.40 (-2,222.6, -2.7%) while the broader Nifty 500 closed at 22,542.45 (-717, -3.1%). Market breadth is sharply down. Of the 2,264 stocks traded today, 178 were in the positive territory and 2,066 were negative.

Indian indices extend the losses from the afternoon session and close deep in the red. The volatility index, Nifty VIX, surged 42.3% and closed at around 20.4 points. Marico closed 1.5% higher in a weak market as its net profit grew by 8.7% YoY to Rs 464 crore in Q1FY25. Revenue increased by 6.2% YoY to Rs 2,680 crore during the quarter.

Nifty Midcap 100 and Nifty Smallcap 100 closed sharply lower following the benchmark index. Nifty Consumer Durables and Nifty IT closed in the red. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 5.1%.

European indices traded lower amid weak global cues. Major Asian indices also closed in the red. US index futures traded sharply lower, indicating a negative start to the trading session. Goldman Sachs raises its 12-month recession odds in the US by 10 percentage points to 25% but believes potential rate cuts by the Federal Reserve will limit the risk. It also forecasts a 50 bps rate cut in September if the August employment report is as weak as the July report.

• Dr Lal Pathlabs sees a long buildup in its August 29 future series as its open interest rises 11.6% with a put-call ratio of 0.3.

• Power Mech Projects wins a Rs 142.5 crore order from Meenakshi Energy to revive Phase II (2 x 350 MW) in Nellore, Andhra Pradesh, within eight months.

• Amara Raja Energy & Mobility's Q1FY25 net profit rises 29.6% YoY to Rs 249.1 crore. Revenue grows 16.7% YoY to Rs 3,263.1 crore during the quarter due to healthy traction from international operations. The company appears in a screener of stocks with zero promoter pledge.

• Marico is rising as its net profit grows by 8.7% YoY to Rs 464 crore in Q1FY25. Revenue increases by 6.2% YoY to Rs 2,680 crore, driven by improvements in the Indian and international markets. It features in a screener of stocks with prices above short, medium, and long-term moving averages.

• Reports suggest that 14.1 crore shares of Jubilant Pharmova, amounting to Rs 119.6 crore, have changed hands in a block deal.

  #JubilantPharmova Large Trade ???? | 14.05 cr shares worth ?119.6 cr change hands at ?851.4/sh in block deal window pic.twitter.com/McM9u2jE4n

  — CNBC-TV18 (@CNBCTV18Live) August 5, 2024

• Ola Electric Mobility's Rs 6,145.6 crore IPO gets bids for 0.7X the available 46.5 crore shares on offer on the second of bidding. The retail investor quota gets bids for 2.7X the available 8.5 crore shares on offer.

• Ceigall India's Rs 1,252.7 crore IPO gets bids for 3.8X the available 2.2 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 3X the available 1.1 crore shares on offer.

• Devyani International's Q1FY25 revenue rises 44.3% YoY to Rs 1,221.9 crore, beats Forecaster estimates by 3.6%. It reports a net profit of Rs 22.4 crore in Q1FY25 compared to a net loss of Rs 1.6 crore in Q1FY24. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

• According to a poll of economists, RBI's monetary policy committee (MPC) will maintain the status quo for the eighth straight meeting, scheduled for 6-8th August. The benchmark lending rate, or the repo rate, is expected to remain unchanged at 6.5%.

  #RBIMPC Preview: Economists expect #MPC to maintain status quo at 6.5% for eighth straight meeting.@PallaviNahata reports ??https://t.co/Gw57JPpCJk

  — NDTV Profit (@NDTVProfitIndia) August 5, 2024

• Cera Sanitaryware rises as its board approves a Rs 130 crore buyback of up to 1.1 lakh equity shares at Rs 12,000 per share. The company sets August 16 as the record date for the buyback.

• Insolation Energy's subsidiary, Insolation Green Infra, signs a memorandum of understanding (MoU) with Ganesh Décor India to set up a 22.68 MW solar power project worth Rs 118 crore in Rajasthan. The company also bags an order worth Rs 24.4 crore from Jaipur Vidyut Vitaran Nigam for a 4.7 MW solar project in Kusum.

• Archean Chemical Industries falls sharply as its net profit declines by 52.2% YoY to Rs 44.9 crore in Q1FY25. Revenue decreases by 37.2% YoY due to lower sales of bromine, industrial salt, and potassium sulphate. It appears in a screener of stocks with high promoter pledges.

• InterGlobe Aviation (IndiGo) is set to introduce the ‘IndiGo Stretch’ business class for 12 routes including Chennai, Bangalore, Hyderabad, and Mumbai, starting mid- November. The company also announces plans to launch a customer loyalty programme 'IndiGo BluChip' by September.

  #IndiGo gets #premium upgrade: Airline announces #BusinessClass seats from Novemberhttps://t.co/rLKa59nHSy

  — Economic Times (@EconomicTimes) August 5, 2024

• Ashoka Buildcon emerges as the lowest bidder for two engineering, procurement, and construction (EPC) projects from the Mumbai Metropolitan Region Development Authority (MMRDA). The quoted bid prices are Rs 289.6 crore and Rs 991.2 crore.

• Shree Renuka Sugars falls sharply as its net loss expands 19.8% YoY to Rs 165.5 crore in Q1FY25, due to higher inventory costs and foreign exchange losses. Revenue grows 32.8% YoY to Rs 3033.9 crore, helped by improvement in the milling and refinery segment. It shows up in a screener of stocks underperforming their industry price change during the quarter.

• Axis Direct retains its 'Buy' call on Zomato with a target price of Rs 280 per share. This indicates a potential upside of 9.8%. The brokerage believes the company's revenue will increase due to strong demand from the top 10 cities and improved demand for Blinkit. It expects the firm's revenue to grow at a CAGR of 28.7% over FY25-26.

• Jewellery retailers Titan and Kalyan expect losses of Rs 550 crore and Rs 120 crore, respectively, over the next two quarters due to the 9% reduction in gold import duty announced during the 2024 Budget. Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, anticipates a one-time write-off of Rs 120 crore in the short term, distributed between Q2 and Q3.

  ????#Titan and #Kalyan apprehend a loss of Rs 550 crore and Rs 120 crore in the next two quarters because of the 9% slash in import duty on gold.@VARinthemaking reports ????https://t.co/KhBvBH2ijr#UnionBudget2024#Gold#CustomDuty

  — Moneycontrol (@moneycontrolcom) August 5, 2024

• Delhivery posts a net profit of Rs 54.4 crore in Q1FY25 compared to a net loss of Rs 89.4 crore in Q1FY24, helped by lower employee benefits expenses. Revenue grows by 12.4% YoY to Rs 2,282.2 crore, owing to improvements in the express parcel and PTL freight segments. It shows up in a screener of stocks with improving return on assets (RoA) over the past two years.

• Tata Power receives a letter of intent (LOI) from PFC Consulting, a wholly owned subsidiary of Power Finance Corp, to acquire Paradeep Transmission, a project special purpose vehicle (SPV), for Rs 256 crore.

• Indian Energy Exchange's electricity volume rises 29% YoY to 10,039 million units (MU) in July. IEX Green Market achieves a volume growth of 259% YoY to 989.6 MU.

• Jefferies believes the FY25 earnings of cement companies are at risk due to price weakness and competitive pressures. The brokerage notes that cement prices are near their 3-4-year lows. It highlights that the muted demand growth trend has continued in July due to monsoons and a slow pickup of new projects. Jefferies sees no scope for price hikes in the near term.

  Brokerage Radar | Jefferies take on the Cement Sector????@Jefferiespic.twitter.com/xkpqkIBSts

  — ET NOW (@ETNOWlive) August 5, 2024

• Gland Pharma receives Form 483 with three observations from the US FDA after conducting a good manufacturing practices (GMP) inspection at its Pashamylaram facility in Hyderabad.

• Britannia Industries' Q1FY25 net profit grows by 10.5% YoY to Rs 505.6 crore, helped by reduced inventory costs. Revenue increases by 5.9% YoY to Rs 4,305.9 crore during the quarter. It features in a screener of stocks near their 52-week highs with significant volumes.

• JK Tyre & Industries falls as its Q1FY25 net profit misses Forecaster estimates by 7.5%, despite rising 37.4% YoY to Rs 211.4 crore due to reduced inventory costs. However, revenue drops 2.1% YoY to Rs 3,639.1 crore during the quarter due to lower sales from Mexico. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Titan falls sharply as its net profit declines by 5% YoY to Rs 715 crore in Q1FY25 due to higher raw materials, employee benefits, finance, and advertisement costs. However, revenue grows by 11.4% YoY to Rs 13,386 crore, on account of improvement in the watches & wearables, jewellery, and eyecare segments. It appears in a screener of stocks underperforming their industries over the past quarter.

• Gloom in markets in early trading. Nifty 50 was trading at 24,301.30 (-416.4, -1.7%), BSE Sensex was trading at 78,588.19 (-2,393.8, -3.0%) while the broader Nifty 500 was trading at 22,801.70 (-457.8, -2.0%)

• Market breadth is sharply down. Of the 2,033 stocks traded today, 110 were on the uptick, and 1,901 were down.

Riding High:

Largecap and midcap gainers today include Marico Ltd. (672.15, 1.5%), Dabur India Ltd. (634, 1.0%) and Hindustan Unilever Ltd. (2,715.90, 0.9%).

Downers:

Largecap and midcap losers today include Samvardhana Motherson International Ltd. (175.51, -9.2%), LIC Housing Finance Ltd. (686.15, -8.3%) and Adani Energy Solutions Ltd. (1,159.10, -8.1%).

Volume Rockets

22 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Cera Sanitaryware Ltd. (9,436.70, 5.6%), Dr. Lal Pathlabs Ltd. (3,160.15, 2.1%) and Devyani International Ltd. (181.27, 1.9%).

Top high volume losers on BSE were Samvardhana Motherson International Ltd. (175.51, -9.2%), LIC Housing Finance Ltd. (686.15, -8.3%) and Can Fin Homes Ltd. (782, -6.5%).

Tamilnad Mercantile Bank Ltd. (447.40, -0.8%) was trading at 30.4 times of weekly average. Medplus Health Services Ltd. (663.60, -1.5%) and Ratnamani Metals & Tubes Ltd. (3,497.25, -2.9%) were trading with volumes 6.9 and 6.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks took off, crossing 52 week highs, while 4 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,841.85, 0.5%), J B Chemicals & Pharmaceuticals Ltd. (1,904, -1.2%) and Sun Pharmaceutical Industries Ltd. (1,720.35, -0.7%).

Stocks making new 52 weeks lows included - IDFC Ltd. (104.87, -3.7%) and Equitas Small Finance Bank Ltd. (80.57, -1.3%).

2 stocks climbed above their 200 day SMA including Nestle India Ltd. (2,510.90, 0.6%) and Delhivery Ltd. (406.10, -2.4%). 47 stocks slipped below their 200 SMA including Tanla Platforms Ltd. (912.65, -6.9%) and Can Fin Homes Ltd. (782, -6.5%).

Nifty 50 closed at 24,717.70 (-293.2, -1.2%), BSE Sensex closed at 80,981.95 (-885.6, -1.1%) while the broader Nifty 500 closed at 23259.45 (-247.2, -1.1%). Market breadth is in the red. Of the 2,222 stocks traded today, 816 were in the positive territory and 1,380 were negative.

Market closed in red extending the losses in the afternoon session. The Indian volatility index, Nifty VIX, rose by 10.8% and closed at 14.3 points. Maruti Suzuki India’s wholesales declined 0.5% YoY to 1.9 lakh units in July due to a 28.3% YoY decrease in commercial vehicle wholesales.

Nifty Midcap 100 and Nifty Smallcap 100 closed in red. S&P BSE Midsmallcap & LargeMidcap were among the top index gainers today. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a jump of over 0.7%.

Asian indices closed in red while European indices are trading lower. US index futures traded lower, indicating a cautious start to the trading session. The benchmark 10-year Treasury yield dropped below 4% for the first time since February. Apple’s quarterly services revenue rises along with jump in iPad sales. 

• Relative strength index (RSI) indicates that stocks like Adani Energy Solutions, Granules India, Ajanta Pharma, and Firstsource Solutions are in the overbought zone.

• Saregama India falls as its Q1FY25 net profit drops 13.8% YoY to Rs 37.3 crore due to increased content investments. However, revenue rises 6.7% YoY to Rs 173 crore during the quarter. The company appears in a screener of stocks with declining cash flow from operations for the last two years.

• Computer Age Management Services' Q1FY25 net profit surges 41.3% YoY to Rs 107 crore, beating Forecaster estimates by 5.1%. Revenue increases 26.8% YoY to Rs 331.4 crore during the quarter. It appears in a screener of stocks where mutual funds increased their shareholding over the past two quarters.

• KR Choksey maintains its 'Buy' call on Varun Beverages with a higher target price of Rs 1,845 per share. This implies a potential upside of 17.1%. The brokerage believes the company's expansion plans and strategic market positioning with its partnership with Pepsico will help improve revenue and profitability. It expects the firm's revenue to grow at a CAGR of 12.7% over FY25-26.

• Jefferies reiterates its 'Buy' rating on Adani Enterprises with a target price of Rs 3,800. The brokerage's positive outlook is fueled by robust performance metrics and strategic growth in the company's key sectors. It expects a gradual unlocking of value across various businesses over the next few years. The board has already approved the demerger of its FMCG division to Adani Wilmar, which is expected to be finalised by the end of FY25.

  #StockMarket | #AdaniEnterprises share price declined almost 3% in morning trades today. Here are 3 key reasons why #Jefferies expects 20% plus upside for the stock post #Q1Results@UjjvalJauhari reports)https://t.co/0DRy9nJnjN

  — Mint (@livemint) August 2, 2024

• Ola Electric Mobility's Rs 6,145.6 crore IPO gets bids for 0.3X the available 46.5 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 1.3X the available 8.5 crore shares on offer.

• Ceigall India's Rs 1,252.7 crore IPO gets bids for 1X the available 2.2 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 1.4X the available 1.1 crore shares on offer.

• RailTel Corp of India rises as its revenue grows by 19.4% YoY to Rs 558.1 crore in Q1FY25, driven by improvements in the telecom and project work services segments. Net profit increases by 29.9% YoY to Rs 48.7 crore during the quarter. It shows up in a screener of stocks outperforming their industry price change during the quarter.

• Aloke Bajpai, Group CEO of LE Travenues Technology (Ixigo), highlights Tier 2 & 3 cities are the highest usage markets for the company and expects demand to rise 50% over the next decade. He adds that the firm's online travel agent market share as of Dec 2023 was at 6.5% vs 5.9% YoY and expects it to improve further this year. He aspires to move from mid-single digits in the flight segment to double digits.

  IXIGO
  
  Aspiration to move from mid single digits in Flight to double digits
  
  OTA Market to grow at 18%, Co has the right to grow much faster (25-30%)
  
  Will continue to grow faster than the market in Flights
  
  https://t.co/UwkRKsTHtI

  — Mangalam Maloo (@blitzkreigm) August 2, 2024

• Zydus Wellness is rising as its net profit grows by 33.8% YoY to Rs 147.7 crore in Q1FY25, helped by lower raw materials and finance costs. Revenue increases by 20.1% YoY to Rs 846 crore on the back of improvement in the food & nutrition and personal care segments. It features in a screener of stocks with more than 20% in stock price in the past month.

• Godrej Agrovet's Q1FY25 net profit rises 28.3% YoY to Rs 135.2 crore due to improved realisations in the domestic crop protection business and margin expansion in animal feed and dairy businesses. However, revenue falls 6.3% YoY to Rs 2,350.8 crore during the quarter. The company appears in a screener of stocks with zero promoter pledge.

• Shakti Pumps surges to its 5% upper circuit as it bags an order worth Rs 558.2 crore from the Department of Agriculture, Uttar Pradesh, for the supply, installation, and commissioning of 12,537 solar water pumping systems.

• Tata Motors Group CFO P.B. Balaji highlights Jaguar Land Rover (JLR) does not intend to take advantage of India's new electric vehicle policy, which provides import duty concessions to companies establishing manufacturing operations in the country. He also emphasises the company has recently localised manufacturing Range Rover and Range Rover Sport and anticipates a significant increase in orders for these models.

  #TataMotors' Group CFO PB Balaji stated that #JaguarLandRover (JLR) has no plans to leverage India's new #EV policy that offers import duty concessions to firms setting up manufacturing units in the country.
  
  Here's why ????https://t.co/pSqRTGxHDP@avishekb001 | #TataMotors…

  — Moneycontrol (@moneycontrolcom) August 2, 2024

• TTK Prestige rises sharply to its new 52-week high of Rs 1,013.5 as its board approves a Rs 200 crore buyback of up to 16.7 lakh equity shares at Rs 1,200 per share. The company sets August 14 as the record date for the buyback.

• Triveni Engineering & Industries falls sharply as its Q1FY25 net profit declines by 53.7% YoY to Rs 31.3 crore due to higher inventory and employee benefits expenses. However, revenue rises by 6.9% YoY to Rs 1,544.8 crore, helped by an increase in the sugar & distillery segments. It shows up in a screener of stocks with declining net cash flow.

• RattanIndia Power rises as it reports a profit of Rs 93 crore in Q1FY25, compared to a loss of 549.4 crore in Q1FY24 due to lower finance costs. Revenue grows 10% YoY to Rs 931.8 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Abhay Soi, the CMD of Max Healthcare highlights that a 6-7% increase in high-end surgeries led to ARPOB (average revenue per occupied bed) growth. He adds that the company targets a capex of Rs 5,000-5,500 crore over the next four years. Soi anticipates that the Dwarka facility will breakeven by the end of FY25.

  #OnCNBCTV18 | ????? "Continue to remain net cash positive; can see ?5,000-6,000 cr funding for acquisitions. We are looking at capex of ?5,000-5,500 cr in the next 4 years"
  
  -Abhay Soi Of Max Healthcare pic.twitter.com/kU8gG78Ayj

  — CNBC-TV18 (@CNBCTV18Live) August 2, 2024

• Netweb Technologies India rises sharply after 20.5 lakh shares (3.6% stake), amounting to Rs 459 crore, reportedly change hands in a block deal. The company's promoters are the likely sellers in the transaction.

• Hero MotoCorp falls as its monthly wholesales decline 5.4% YoY to 3.7 lakh units in July due to lower motorcycle sales and domestic business. However, its exports grow by 13% YoY to 22,739 units during the month.

• GR Infraprojects falls as its Q1FY25 net profit drops 49.8% YoY to Rs 155.5 crore. However, revenue decreases 18.1% YoY to Rs 2,030.3 crore during the quarter due to lower business growth in the build, operate, and transfer (BOT) segment. The company appears in a screener of stocks where mutual funds increased their shareholding in the past month.

• Morgan Stanley has an ‘Underweight’ rating on Eicher Motors with a target price of Rs 3,533. The brokerage believes the company’s share price will decline over the next two months. It highlights the muted volumes, in the Royal Enfield segment.

  Brokerage Radar | Here's what Morgan Stanley says for Eicher Motors????@MorganStanley#EICHERMOTpic.twitter.com/sSCL5L0xaw

  — ET NOW (@ETNOWlive) August 2, 2024

• Maruti Suzuki India falls sharply as its wholesales decline 0.5% YoY to 1.9 lakh units in July due to a 28.3% YoY decrease in commercial vehicle wholesales.

• SJS Enterprises surges to its all-time high of Rs 958 as its Q1FY25 net profit rises 54.6% YoY to Rs 27.8 crore. Revenue grows 60.8% YoY to Rs 188.6 crore during the quarter, due to strong business growth in passenger vehicles, consumer segments, and exports. The company appears in a screener of stocks with zero promoter pledge.

• Kalyan Jewellers rises as its net profit grows by 23.5% YoY to Rs 177.8 crore in Q1FY25, helped by inventory destocking and a deferred tax return of Rs 29.6 crore. Revenue increases by 26.7% YoY to Rs 5,557.6 crore, driven by new showrooms and customer additions. It features in a screener of stocks with the highest recovery from their 52-week lows.

• Tata Motors is falling as its Q1FY25 net profit misses Forecaster estimates by 2.6%, despite growing by 73.8% YoY to Rs 5,566 crore. Revenue rises by 5.8% YoY to Rs 1.1 lakh crore, helped by improvements in the commercial vehicles and vehicle financing segments. It appears in a screener of stocks with increasing costs YoY for long-term projects.

• Markets fell in early trading. Nifty 50 was trading at 24,821.75 (-189.2, -0.8%) , BSE Sensex was trading at 81,208.97 (-658.6, -0.8%) while the broader Nifty 500 was trading at 23,333.10 (-173.5, -0.7%)

• Market breadth is moving down. Of the 1,956 stocks traded today, 275 were gainers and 1,647 were losers.

Riding High:

Largecap and midcap gainers today include Zomato Ltd. (262.34, 12.1%), Adani Wilmar Ltd. (383.15, 10.0%) and One97 Communications Ltd. (527, 6.1%).

Downers:

Largecap and midcap losers today include Cummins India Ltd. (3,510.85, -8.0%), Escorts Kubota Ltd. (3,905.20, -5.9%) and Eicher Motors Ltd. (4,726.70, -4.9%).

Volume Rockets

21 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Zomato Ltd. (262.34, 12.1%), Adani Wilmar Ltd. (383.15, 10.0%) and Jammu & Kashmir Bank Ltd. (116.96, 6.8%).

Top high volume losers on BSE were Cummins India Ltd. (3,510.85, -8.0%), Eicher Motors Ltd. (4,726.70, -4.9%) and Thermax Ltd. (4,984.30, -3.8%).

Ramkrishna Forgings Ltd. (887.20, 4.7%) was trading at 10.9 times of weekly average. Bikaji Foods International Ltd. (739.25, 3.4%) and Hatsun Agro Products Ltd. (1,270.55, 4.4%) were trading with volumes 10.5 and 6.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

30 stocks overperformed with 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (2,828.50, 1.3%), Akzo Nobel India Ltd. (3,117.50, 0.2%) and Aurobindo Pharma Ltd. (1,443.30, 0.7%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (81.59, 1.6%).

3 stocks climbed above their 200 day SMA including eClerx Services Ltd. (2,439.95, -0.1%) and Adani Total Gas Ltd. (908.90, -0.7%). 17 stocks slipped below their 200 SMA including Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (679.45, -3.4%) and Bank of Baroda (243.70, -3%).

Vistas Corporation Ltd. (340.20, -1.8%).

Nifty 50 closed at 25,010.90 (59.8, 0.2%) , BSE Sensex closed at 81,867.55 (126.2, 0.2%) while the broader Nifty 500 closed at 23,506.60 (-24.2, -0.1%). Market breadth is sharply down. Of the 2,183 stocks traded today, 686 were gainers and 1,481 were losers.

Markets closed higher after rebounding in late trading. The Indian volatility index, Nifty VIX, fell 2.4% and closed at 12.9 points. Coal India rises to its all-time high of Rs 542.2 per share as its net profit grows by 4.1% YoY to Rs 10,959.5 crore in Q1FY25 and revenue increases by 1.3% YoY to Rs 36,464.6 crore during the quarter.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Energy and S&P BSE Utilities were among the top index gainers today. According to Trendlyne’s Sector dashboard, Utilities emerged as the best-performing sector of the day, with a rise of 1.8%.

Asian indices closed in the mixed. European indices are trading in the red except SMI, RTSI and MOEX which are trading in the green. US index futures are trading in the green except Small Cap 2000 which is trading in the red, indicating a positive start to the trading session. Brent crude oil futures are trading higher.

• Money flow index (MFI) indicates that stocks like Just Dial, Torrent Power, CCL Products India and Suven Pharmaceuticals are in the overbought zone.

• Tata Motors is falling as its total wholesales decline by 11% YoY to 70,161 units in July, due to an 18% YoY and 6% YoY decrease in commercial vehicle and passenger vehicle wholesales, respectively.

• Tata Power rises as its step-down subsidiary signs a power delivery agreement with Tata Steel for a 70 MW group captive solar power plant at Akola, Maharashtra. This project is expected to generate 154 million units (MUs) of power annually and reduce carbon emissions by 1,15,000 tonnes.

• Hero FinCorp files a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 3,668 crore. The IPO consists of an offer for sale (OFS) worth Rs 1,568 crore and a fresh issue valued at Rs 2,100 crore.

  #HeroFinCorp has filed its #DRHP with the capital market regulator, #SEBI, for an initial public offering (#IPO) worth ? ?3,668 crore.https://t.co/QoSWF6VSmf

  — Mint (@livemint) August 1, 2024

• Ceigall India's Rs 1,252.7 crore IPO gets bids for 0.4X the available 2.2 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 0.6X the available 1.1 crore shares on offer.

• Akums Drugs and Pharmaceuticals' Rs 1,856.7 crore IPO gets bids for 18.1X the available 1.5 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 15.8X the available 27.1 lakh shares on offer.

• Sonata Software falls sharply as its net profit declines 4.3% QoQ to RS 105.6 crore in Q1FY25 due to higher inventory and employee benefits expenses. However, revenue grows 13.4% QoQ to Rs 2,546.3 crore, helped by an improvement in the Indian market and strong order wins during the quarter. It features in a screener of stocks with PE higher than their industry PE.

• Anish Shah, Managing Director of Mahindra & Mahindra, notes the tractor segment has gained 180 bps market share in Q1FY25, and growth across other segments. He projects a 5% volume growth for the tractor segment in FY25. Shah expects the auto business to grow by 15% over the next three years.

  Exclusive chat with Mr.Anish Shah of @MahindraRise@anandmahindra
  
  On Tractors
  ???? 5% volume growth in FY25, gained 180 bps market share
  
  ???? Seen market share gains across segments
  ???? Continue to maintain margins at current levels
  
  ? No reason to demerge business as of now
  
  ????…

  — Nigel D'Souza (@Nigel__DSouza) August 1, 2024

• Bank of Baroda's net profit grows 6.2% YoY to Rs 4,727.8 crore in Q1FY25. Revenue increases by 7.5% YoY to Rs 35,800.9 crore, driven by improvements in the retail and wholesale banking segments. Its asset quality improves as gross and net NPAs decline by 63 bps YoY and 9 bps YoY, respectively.

• Relaxo Footwears is falling as its Q1FY25 net profit drops 21.2% YoY to Rs 44.4 crore due to an increase in minimum wages, mandated by the government. However, operating revenue rises 1.2% YoY to Rs 748.2 crore during the quarter due to weak consumer sentiments and severe heatwave conditions in many parts of India. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months

• Hem Securities initiates a 'Buy' call on KEC International with a target price of Rs 1,100 per share. This indicates a potential upside of 18.3%. The brokerage believes the company will continue to benefit from its healthy order book position, strong execution capabilities, and healthy financial position. It expects the firm's revenue to grow at a CAGR of 9.8% over FY25-26.

• Restaurant Brands Asia rises more than 3% as 1.5 crore shares (3% equity), amounting to Rs 168.5 crore, reportedly change hands in a large trade.

  #LargeTrade | Restaurant Brands Asia’s 1.5 cr shares (3% equity) worth ?168.5 cr change hands at ?113/sh pic.twitter.com/nEGNYHtWII

  — CNBC-TV18 (@CNBCTV18Live) August 1, 2024

• Thomas Cook plunges more than 9% as its Q1FY25 net profit misses Forecaster estimates by 20.2%, despite growing by 3.3% YoY to Rs 75.3 crore. Revenue increases 10.5% YoY to Rs 2,134.3 crore, helped by improvements in the travel & related services and leisure hospitality & resorts segments. It shows up in a screener of high volume, top losing stocks.

• JK Lakshmi Cement's Q1FY25 revenue falls 9.6% YoY to Rs 1,563.9 crore, misses estimates by 6.3%. Net profit declines 15.3% YoY to Rs 67.6 crore during the quarter. It appears in a screener of stocks where mutual funds decreased their shareholding in the last quarter.

• GE T&D India surges to its 5% upper circuit as its Q1FY25 net profit rises 174% YoY to Rs 134.5 crore due to reduced finance and inventory costs. Revenue grows 33.5% YoY to Rs 958.3 crore during the quarter. The company appears in a screener of stocks with rising net profit margins on a quarterly and TTM basis.

• India’s manufacturing PMI moderates to 58.1 in July compared to 58.3 in June, due to a slightly slower growth in new orders and output. The PMI reading has stayed above the 50-mark since July 2021.

  India's factory activity maintains solid growth in July, PMI shows https://t.co/k8oPmuRg9xpic.twitter.com/YZbzDSBRb2

  — Reuters Asia (@ReutersAsia) August 1, 2024

• Bajaj Auto is rising as its wholesales grow 11% to 3.5 lakh units in July. Two-wheeler wholesales increase by 10.7% YoY, while commercial vehicle wholesales improve by 11.2% YoY.

• Godrej Properties falls as its Q1FY25 net profit rises 3.1X to Rs 520.1 crore due to improvement in inventory costs. However, revenue drops 20% YoY to Rs 739 crore during the quarter. The company appears in a screener of stocks near their 52-week highs.

• Aster DM Healthcare rises sharply as its net profit surges to Rs 5,145.2 crore in Q1FY25 from Rs 4.9 crore in Q1FY24, helped by the sale of its Gulf business. Revenue grows by 23.7% YoY to Rs 1,050.6 crore during the quarter. It appears in a screener of stocks with the highest FII holding.

• Morgan Stanley has an ‘Overweight’ rating on Ashok Leyland with a target price of Rs 284 per share. The brokerage believes the company’s share price will increase over the next 60 days. It expects a shallow down-cycle for CVs, and notes the industry’s focus on margins.

  Brokerage Radar | Morgan Stanley on Ashok Leyland: Tactical Buy: Overweight rating; target of Rs 284/sh@MorganStanleypic.twitter.com/PiLmAPW9Xl

  — ET NOW (@ETNOWlive) August 1, 2024

• Sansera Engineering rises as it signs a memorandum of understanding (M0U) with Karnataka Udyog Mitra to acquire 55 acres of industrial land in Harohalli, Bengaluru. The company commits to investing approximately Rs 2,100 crore over the next 3 to 5 years.

• Coal India rises to its all-time high of Rs 539.9 per share as its net profit grows by 4.1% YoY to Rs 10,959.5 crore in Q1FY25, helped by reduced raw materials, inventory, and employee benefits expenses. Revenue increases by 1.3% YoY to Rs 36,464.6 crore during the quarter. It features in a screener of stocks with YoY growth in quarterly net profit and profit margin.

• Prestige Estates Projects falls as its Q1FY25 net profit drops 12.8% YoY to Rs 232.6 crore due to high contractor cost. However, revenue rises 10.7% YoY to Rs 1,862.1 crore during the quarter. The company appears in a screener of stocks with zero promoter pledge.

• Tata Steel's Q1FY25 net profit grows by 51.4% YoY to Rs 959.6 crore, helped by inventory destocking and lower raw materials, and finance costs. However, revenue declines by 9.3% YoY to Rs 55,031.3 crore due to a decrease in the domestic and UK markets. It shows up in a screener of stocks with declining returns on capital employed (RoCE) over the past two years.

• Nifty 50 was trading at 25,054.05 (102.9, 0.4%), BSE Sensex was trading at 81,949.68 (208.3, 0.3%) while the broader Nifty 500 was trading at 23,612.35 (81.6, 0.4%).

• Market breadth is ticking up strongly. Of the 1,928 stocks traded today, 1,333 were on the uptick, and 562 were down.

Riding High:

Largecap and midcap gainers today include Adani Energy Solutions Ltd. (1,275.20, 12.1%), Oil India Ltd. (599.05, 3.7%) and Power Grid Corporation of India Ltd. (361.10, 3.7%).

Downers:

Largecap and midcap losers today include General Insurance Corporation of India (411.95, -4.2%), ACC Ltd. (2,487.90, -4.0%) and Dixon Technologies (India) Ltd. (11,670.55, -3.6%).

Volume Shockers

27 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Adani Energy Solutions Ltd. (1,275.20, 12.1%), Jubilant Pharmova Ltd. (866.20, 12.0%) and Firstsource Solutions Ltd. (301, 10.1%).

Top high volume losers on BSE were Sonata Software Ltd. (664.15, -9.9%), KRBL Ltd. (294.75, -7.4%) and Prince Pipes & Fittings Ltd. (645.90, -4.1%).

Capri Global Capital Ltd. (225.55, 7.9%) was trading at 12.2 times of weekly average. Akzo Nobel India Ltd. (3,111.75, 4.6%) and Emami Ltd. (824.10, 0.9%) were trading with volumes 9.4 and 8.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

50 stocks made 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Adani Energy Solutions Ltd. (1,275.20, 12.1%), Ajanta Pharma Ltd. (2,792.50, 3.6%) and Akzo Nobel India Ltd. (3,111.75, 4.6%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (80.28, -0.6%).

7 stocks climbed above their 200 day SMA including Capri Global Capital Ltd. (225.55, 7.9%) and Adani Total Gas Ltd. (915.55, 2.2%). 9 stocks slipped below their 200 SMA including Sonata Software Ltd. (664.15, -9.9%) and Birlasoft Ltd. (643, -4.8%).

Nifty 50 closed at 24,951.15 (93.9, 0.4%), BSE Sensex closed at 81,741.34 (285.9, 0.4%) while the broader Nifty 500 closed at 23,530.80 (89.9, 0.4%). Market breadth is balanced. Of the 2,179 stocks traded today, 1,036 were in the positive territory and 1,127 were negative.

Indian indices extended their gains in the afternoon session and closed in the green. The volatility index, Nifty VIX, rose 2.9% and closed at around 13.3 points. Mahindra & Mahindra’s revenue grew 10.8% YoY to Rs 37,010.1 crore in Q1FY25, however, net profit declined 3.7% YoY to Rs 3,545.8 crore during the quarter.

Nifty Midcap 100 closed in the green, meanwhile, Nifty Smallcap 100 closed in the red. S&P BSE Utiliti and Nifty Metal closed higher. According to Trendlyne’s sector dashboard, Forest Materials emerged as the top-performing sector of the day, with a rise of 1.4%.

European indices traded higher, except Russia’s RTSI index, which traded in the red. Most Asian indices closed higher. US index futures traded in the green, indicating a positive start to the trading session. The Bank of Japan raised its benchmark interest rate to 0.25% from 0-0.1%. The US Federal Reserve will conclude its July meeting later today and is expected to maintain its benchmark interest rate in the 5.25%-5.50% range.

• Granules India sees a long buildup in its August 29 future series as its open interest rises 35.5% with a put-call ratio of 0.8.

• Birlasoft's Q1FY25 revenue rises 5.1% YoY to Rs 1,327.4 crore, driven by improvements in the BFSI and energy & utilities segments. Net profit grows 9.2% YoY to Rs 150.2 crore, but misses Forecaster estimates by 7%. It shows up in a screener of stocks with increasing profits every quarter for the past four quarters.

• Rites falls as its Q1FY25 net profit drops 26.8% YoY to Rs 79 crore due to higher employee benefits and supply expenses. Revenue declines 10.7% YoY to Rs 485.7 crore during the quarter, caused by lower sales in the consultancy and export segments. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Mahindra & Mahindra is rising as its revenue grows 10.8% YoY to Rs 37,010.1 crore in Q1FY25, helped by improvements in the automotive and financial services segments. However, net profit declines 3.7% YoY to Rs 3,545.8 crore during the quarter. It shows up in a screener of stocks outperforming their industry price change during the quarter.

• Anand Rathi expects solid growth in automobile wholesales due to improved retail and inventory levels. The brokerage anticipates strong volume growth across all segments, particularly in two-wheelers. It upgrades its growth forecast for M&H CVs to high single digits, driven by robust bus demand (14% CAGR), ongoing replacement demand, and positive infrastructure and economic activity.

  July 2024’s #automobile wholesales are set for growth, driven by improved retail and inventory build-up, despite mixed retail demand due to heavy rains and lack of events, analysts say.#AutoSales
  
  (@anky_gohel reports)https://t.co/uPGPBWZuVQ

  — Mint (@livemint) July 31, 2024

• Bharat Heavy Electricals falls as its net loss expands by 3.2% YoY to Rs 211.4 crore in Q1FY25 due to higher raw materials and inventory costs. However, revenue grows by 9.1% YoY to Rs 5,581.8 crore, driven by a rise in the power and industry segments. It appears in a screener of stocks with declining cash flow from operations over the past two years.

• Akums Drugs and Pharmaceuticals' Rs 1,856.7 crore IPO gets bids for 2.9X the available 1.5 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 6.9X the available 27.1 lakh shares on offer.

• Ambuja Cements' Q1FY25 net profit drops 28.6% YoY to Rs 646.3 crore due to higher raw material and inventory costs. Revenue declines 4.6% YoY to Rs 8,311.5 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Anurag Mantri, Executive Director & Group CFO of Jindal Stainless, guides a 20% volume growth for FY25 and EBITDA ranging from 18,000-20,000/tonne. He adds that exports grew at subpar levels of 10-12% amid the Red Sea crisis. He highlights the company's target to achieve an EBITDA of Rs 750-800 crore and 20% volume growth in FY25.

  JINDAL STAINLESS
  
  FY25 Targets
  - 20% Volume Growth
  - EBITDA at 18000-20000/Tn
  - Exports at 10-12%, due to Red-Sea crisis
  - JUSL EBITDA Target at 750-800 Cr#StockMarkethttps://t.co/RFe9wFKhiO

  — Mangalam Maloo (@blitzkreigm) July 31, 2024

• Macrotech Developers' Q1FY25 net profit surges by 166.4% YoY to Rs 475.3 crore. Revenue rises by 74.6% YoY to Rs 2,918.3 crore, helped by increased pre-sales and collections. It shows up in a screener of stocks with the highest recovery from their 52-week lows.

• Hubtown rises as its board approves raising Rs 935 crore by issuing preferential shares to private investors and an additional Rs 275 crore by issuing warrants to promoters.

• Autoline Industries surges as it secures a Rs 204 crore supply contract with Tata Motors Passenger Vehicle. The contract involves manufacturing tools and supplying sheet metal parts and assemblies, with Rs 147 crore annually for parts and a one-time Rs 57 crore for tooling.

• Tata Motors enters the top ten most valued global auto firms with a $51 billion market cap, the highest among Indian auto companies. The firm now ranks 10th among the international players. Analysts highlight that easing semiconductor chip challenges for Jaguar Land Rover (JLR) has reduced the order backlog and expanded the order book.

  ???? #TataMotors has entered the top ten most valued global auto firms with a $51 billion market cap, the highest among Indian auto companies ????
  
  This milestone comes after a stock surge of over 50% this year and over 101% in 2023 ????
  
  Read on ????https://t.co/gYUpEuPhht@rravindia… pic.twitter.com/n4UrK4FYLX

  — Moneycontrol (@moneycontrolcom) July 31, 2024

• Indus Towers' Q1FY25 net profit grows 42.9% YoY to Rs 1,925.9 crore, helped by a Rs 759.7 crore return from allowances for doubtful receivables. Revenue rises by 4.3% YoY to Rs 7,439.4 crore, driven by increased sales. It appears in a screener of undervalued growth stocks.

• Quality Investment Holdings sells a 12.8% stake (3.3 crore shares) in PNB Housing, worth Rs 2,573.8 crore, in a bulk deal on Tuesday. Meanwhile, Singapore Government entities, Aditya Birla Life MF, and DSP Blackrock MF pick 2.9%, 1.1%, and 0.5% stakes respectively in the company.

• PDSL rises as ICICI Prudential Mutual Fund buys 10 lakh shares (0.7% stake) at an average price of Rs 554.7 per share in a bulk deal on Tuesday.

• Saurabh Gupta, CFO of Dixon Technologies, highlights the company’s target to increase the production volume of mobile phones to 28-30 million units in FY25. He says mobile phones provide the largest opportunity, but expects the IT hardware segment to be the next growth driver. Gupta projects revenue of Rs 3,000-4,000 crore from the segment in FY26.

  Dixon Technologies says
  
  Mobile Volume Guidance (mn units)
  FY25 ???? 28-30 mn units
  FY26 ???? 40 mn units
  
  ????Margins will improve towards 4% in coming quarters
  
  ???? IT hardware revenues could be 3k-4k cr in FY26
  
  ?? Worse behind for Lighting , no plan to exithttps://t.co/nWxFApIRLk

  — Nigel D'Souza (@Nigel__DSouza) July 31, 2024

• Titagrah Rail Systems falls sharply as its revenue falls by 1% YoY to Rs 903.1 crore due to a decline in the passenger rail segment. Net profit grows by 5.5% YoY to Rs 71.3 crore. It appears in a screener of stocks with PE higher than industry PE.

• GAIL (India) surges to its all-time high of Rs 245.9 per share as its net profit grows by 77.6% YoY to Rs 3,182.9 crore in Q1FY25, helped by lower raw material and inventory costs. Revenue rises 6.2% YoY to Rs 35,042.4 crore, attributed to an increase in the transmission services, natural gas marketing, and city gas segments. It appears in a screener of stocks with an improvement in net cash flow and cash from operating activities.

• Tata Consumer falls as its Q1FY25 net profit drops 8.3% YoY to Rs 290.3 crore due to a lower share of profits from associates and joint ventures. However, revenue rises 16.3% YoY to Rs 4,352.1 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Investec maintains its ‘Buy’ on Angel One with a lower target price of Rs 2,500. The brokerage expects a 30% drop in the number of derivatives orders per client for the company, following the draft guidelines issued by SEBI. It anticipates the firm to increase the price per order to Rs 25 from Rs 20 earlier.

  Brokerage Radar | Investec on Angel One maintains Buy; cuts target price to Rs 2,500 from Rs 3,000@Investecpic.twitter.com/96LQgjXmTN

  — ET NOW (@ETNOWlive) July 31, 2024

• Hindustan Zinc is falling as it receives a tax demand worth Rs 1,289.1 crore from the Incom Tax Department following the assessment of its FY21 income.

• Navin Fluorine falls as its Q1FY25 net profit drops 16.8% YoY to Rs 51.2 crore due to higher inventory cost. Revenue grows 6.6% YoY to Rs 523.7 crore during the quarter but misses Forecaster estimates by 9.1%. The company appears in a screener of stocks with promoter decreasing their shareholding.

• Torrent Power surges to its all-time high of Rs 1,750 per share as its Q1FY25 net profit grows by 88% YoY to Rs 972.2 crore. Revenue rises by 22.9% YoY to Rs 9,110 crore, driven by improvements in the generation, transmission & distribution, and renewables segments. It features in a screener of stocks with increasing book value over the past two years.

• Castrol India rises as its Q1FY25 net profit rises 3% YoY to Rs 232.2 crore due to lower inventory costs. Revenue grows 4.8% YoY to Rs 1,397.5 crore during the quarter.  The company appears in a screener of stocks with growth in net profit and profit margin (QoQ).

• Nifty 50 was trading at 24,898.10 (40.8, 0.2%) , BSE Sensex was trading at 81,655.90 (200.5, 0.3%) while the broader Nifty 500 was trading at 23,489.25 (48.4, 0.2%)

• Market breadth is ticking up strongly. Of the 1904 stocks traded today, 1339 showed gains, and 526 showed losses.

Riding High:

Largecap and midcap gainers today include Torrent Power Ltd. (1,866.45, 16.6%), Tata Communications Ltd. (1,990.75, 4.4%) and Gland Pharma Ltd. (2,141.60, 4.0%).

Downers:

Largecap and midcap losers today include FSN E-Commerce Ventures Ltd. (192.99, -3.5%), Indus Towers Ltd. (433.15, -3.1%) and Rail Vikas Nigam Ltd. (601.50, -2.1%).

Movers and Shakers

37 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Torrent Power Ltd. (1,866.45, 16.6%), CCL Products India Ltd. (675, 9.8%) and Granules India Ltd. (630.10, 7.0%).

Top high volume losers on BSE were IndiaMART InterMESH Ltd. (2,944.85, -6.6%), Poly Medicure Ltd. (1,871.60, -4.8%) and Birlasoft Ltd. (675.65, -4.8%).

Tanla Platforms Ltd. (993.15, 2.6%) was trading at 10.1 times of weekly average. Suven Pharmaceuticals Ltd. (997.20, 5.6%) and Jubilant Pharmova Ltd. (773.25, 5.3%) were trading with volumes 8.0 and 6.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

53 stocks made 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (4,621.35, -0.9%), Ajanta Pharma Ltd. (2,695.10, 6.5%) and Ashok Leyland Ltd. (257.09, 1.4%).

Stock making new 52 weeks lows included - Equitas Small Finance Bank Ltd. (80.77, -1.3%).

7 stocks climbed above their 200 day SMA including Tanla Platforms Ltd. (993.15, 2.6%) and Kansai Nerolac Paints Ltd. (307.20, 0.9%). 4 stocks slipped below their 200 SMA including Birlasoft Ltd. (675.65, -4.8%) and GMM Pfaudler Ltd. (1,444.85, -1.1%).