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Trendlyne Marketwatch
30 Jul 2025, 04:16PM
Market closes higher, Punjab National Bank's gross NPAs fall 120 bps YoY in Q1
By Trendlyne Analysis

Nifty 50 closed at 24,855.05 (34.0, 0.1%) , BSE Sensex closed at 81,481.86 (143.9, 0.2%) while the broader Nifty 500 closed at 23,033.55 (26.2, 0.1%). Market breadth is holding steady. Of the 2,468 stocks traded today, 1,207 were in the positive territory and 1,225 were negative.

Indian indices closed higher after switching between losses and gains throughout the day. The Indian volatility index, Nifty VIX, fell 2.8% and closed at 11.2 points. Larsen & Toubro closed 4.9% higher after its Q1FY26 revenue grew 16.1% YoY to Rs 65,035.7 crore, beating Forecaster estimates by 3.3%.

Nifty Smallcap 100 closed lower, while Nifty Midcap 100 closed flat. Nifty Media and Nifty Realty were among the top index losers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 1.5%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading flat or higher as investors await the Federal Reserve’s interest rate decision, due later tonight. The Fed is widely expected to keep rates unchanged. Key earnings from Microsoft, Meta and Robinhood are also due later today. Brent crude futures are trading lower after rising 3.4% on Tuesday.

  • Relative strength index (RSI) indicates that stocks like Laurus Labs, Syrma SGS Technology, Bosch, and Torrent Pharma are in the overbought zone.

  • KPIT Technologies rises sharply as its management credits strong deal wins from top 25 clients to drive revenue growth in H2FY26. However, the company's revenue falls 1.3% QoQ to Rs 1,554 crore and net profit drops 29.8% to Rs 171.9 crore. It features in a screener of stocks where mutual funds increased their shareholding in the past quarter.

  • Redington's Q1 FY26 net profit surges 11.9% YoY to Rs 275.2 crore. Revenue grows 21.9% YoY to Rs 26,001 crore, driven by growth in the mobility and cloud businesses and strong order execution. The company appears in a screener of stocks where mutual funds have increased their shareholding over the past month.

  • Analysts maintain a positive outlook on Varun Beverages, citing strong growth potential. Goldman Sachs raises its target price to Rs 610, while CLSA lowers it to Rs 774. Goldman notes that despite weaker volume growth in India, the company maintains profit margins through operational efficiencies. While, CLSA highlights that capex in the company's India segment is expected to reduce to Rs 600 crore from Rs 700 crore.

  • Punjab National Bank is falling as its net profit plunges 48.5% YoY to Rs 1,675 crore in Q1FY26 due to higher taxes. However, revenue increases 11.9% YoY to Rs 31,963.9 crore, driven by improvements in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs declines by 120 bps and 22 bps YoY, respectively.

  • Procter & Gamble Hygiene & Healthcare rises sharply as its Q1FY26 net profit surges 136.9% YoY to Rs 192.1 crore, helped by lower raw materials, inventory, employee benefits, and advertising & sales expenses. Revenue grows 0.6% YoY to Rs 944.7 crore during the quarter. It features in a screener of stocks with zero promoter pledge.

  • Tilaknagar Industries' board of directors approves a preferential issue of equity shares and warrants worth Rs 2,296 crore. The proceeds are intended to fund the acquisition of the Imperial Blue business division and meet general corporate expenses.

  • With Europe's solar market weakening due to declining electricity prices, India is reportedly exploring new export opportunities in the United States and West Asia. Ongoing efforts aim to resolve export-related challenges, and India is actively collaborating with the US-India Business Council (USIBC) to promote the export of solar modules.

  • IFB Industries' Q1FY26 net profit falls 30.3% YoY to Rs 26.2 crore due to higher raw material costs and increased purchase of finished goods. However, revenue rises 5.5% YoY to Rs 1,338.3 crore, driven by improvements in the home appliances and engineering segments during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • NTPC is rising as its Q1FY26 net profit grows 9.8% YoY to Rs 6,010.6 crore, helped by lower fuel, electricity, and employee benefits expenses. However, revenue declines 2.4% YoY to Rs 47,821.1 crore due to lower power generation revenues. It appears in a screener of stocks where FIIs are increasing their shareholding.

  • Asian Paints' Q1FY26 revenue falls marginally by 0.3% YoY to Rs 8,938.6 crore, impacted by the decorative business segment. Net profit decreases 6% YoY to Rs 1,099.8 crore during the quarter. The company appears in a screener of stocks where promoters increased pledged shares QoQ.

  • Counterpoint Research highlights that India’s smartphone market records its best-ever second quarter in value terms, driven by a surge in ultra-premium device sales and aggressive affordability programs from Apple and Samsung. In the April–June period, the market grew 18% in value and 8% in volume compared to the same quarter last year. The ultra-premium segment (above Rs 45,000) was the fastest-growing price tier, rising 37% YoY.

  • KEC International is rising as it secures an order worth Rs 1,509 crore across its businesses. Its transmission & distribution (T&D) unit receives orders to supply transmission towers in the Americas and the Middle East. In the cables & conductors segment, it secures a contract to supply cables and conductors in India and the overseas market.

  • Dilip Buildcon is rising sharply as its Q1FY26 net profit surges 91.6% YoY to Rs 229 crore, driven by sales of hybrid annuity model (HAM) projects worth Rs 169.3 crore. However, revenue declines 10.1% YoY to Rs 2,836.5 crore due to reductions in the engineering, procurement & construction (EPC) projects and road infrastructure maintenance segments. It features in a screener of undervalued growth stocks.

  • GNG Electronics’ shares debut on the bourses at a 49.8% premium to the issue price of Rs 237. The Rs 460.4 crore IPO received bids for 147.9 times the total shares on offer.

  • Manoj Tulsian, Joint MD and CEO of Greenply Industries, says Q1FY26 was subdued, but demand has picked up in July. He expects net debt to fall to Rs 400–425 crore and PAT to reach Rs 120–130 crore by FY26, supported by double-digit margins.

  • Indiqube Spaces' shares debut on the bourses at a 8.9% discount to the issue price of Rs 237. The Rs 700 crore IPO received bids for 12.4 times the total shares on offer.

  • Aadhar Housing Finance promoter BCP Topco VII Pte (Blackstone) to sell 4.41 crore shares (6.3% stake) at Rs 425 per share to AXDI LDII SPV 1 (Advent International), worth Rs 1,870 crore.

  • Tata Motors falls as it reportedly plans to acquire Italian truck maker Iveco group's truck business from the Agnelli family for Rs 37,350 crore ($4.5 billion).

  • Motilal Oswal maintains a 'Neutral' rating on Asian Paints with a target price of Rs 2,500. The brokerage sees ongoing challenges for the company, noting that a full recovery is still some time away. It observes early signs of demand improvement in urban areas, while rural demand remains stable. Management expects recovery in September this year and aims for single-digit value and volume growth, with EBITDA margin guidance of 18–20% for FY26.

  • GE Vernova T&D India's Q1 FY26 net profit grows 116.5% YoY to Rs 291.2 crore. Revenue rises 38.8% YoY to Rs 1,330 crore, driven by strong order execution and higher export orders. The firm appears in a screener of stocks where foreign institutional investors (FIIs) are raising their shareholding.

  • Larsen & Toubro rises sharply as its Q1FY26 net profit jumps 29.8% YoY to Rs 3,617.2 crore, owing to inventory destocking and lower sales & administration and finance costs. Revenue grows 16.1% YoY to Rs 65,035.7 crore, helped by improvements in the infrastructure projects, energy projects, hi-tech manufacturing, IT & technology services, and development projects segments. It appears in a screener of stocks near their 52-week highs, with significant volumes.

  • Allied Blenders & Distillers rises to its new all-time high of Rs 512 as its net profit surges 4X YoY to Rs 56.6 crore in Q1FY26 due to lower excise duty on sales. Revenue increases 21.8% YoY to Rs 922.9 crore, driven by strong volume growth in the Prestige & Above (P&A) segment during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Bank of India rises as its Q1FY26 net profit grows 32.3% YoY to Rs 2,252.1 crore, helped by lower provisions. Revenue jumps 12.5% YoY to Rs 20,518.3 crore, helped by improvements in the treasury operations, retail and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 170 bps and 24 bps YoY, respectively.

  • Nifty 50 was trading at 24,862.05 (41.0, 0.2%), BSE Sensex was trading at 81,594.52 (256.6, 0.3%) while the broader Nifty 500 was trading at 23,064 (56.7, 0.3%).

  • Market breadth is ticking up strongly. Of the 1,956 stocks traded today, 1,509 were gainers and 395 were losers.

Riding High:

Largecap and midcap gainers today include Avenue Supermarts Ltd. (4,281.40, 7.1%), Coromandel International Ltd. (2,652.70, 6.3%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,870, 6.0%).

Downers:

Largecap and midcap losers today include Samvardhana Motherson International Ltd. (98.92, -3.6%), Tata Motors Ltd. (668.45, -3.5%) and Swiggy Ltd. (401.10, -3.1%).

Volume Shockers

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

Top high volume gainers on BSE included The New India Assurance Company Ltd. (204.35, 17.8%), Sumitomo Chemical India Ltd. (652.25, 7.9%) and Jubilant Pharmova Ltd. (1,236.30, 7.2%).

Top high volume losers on BSE were Birla Corporation Ltd. (1,384.70, -8.5%), Redington Ltd. (265.45, -7.8%) and Blue Dart Express Ltd. (6,166, -4.7%).

Craftsman Automation Ltd. (6,863.50, 6.4%) was trading at 11.9 times of weekly average. General Insurance Corporation of India (381.95, 2.8%) and Star Health and Allied Insurance Company Ltd. (447.80, 4.9%) were trading with volumes 11.9 and 9.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks made 52 week highs,

Stocks touching their year highs included - Bosch Ltd. (40,060, 0.4%), Coromandel International Ltd. (2,652.70, 6.3%) and EID Parry (India) Ltd. (1,228, 1.6%).

22 stocks climbed above their 200 day SMA including The New India Assurance Company Ltd. (204.35, 17.8%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,870, 6.0%). 12 stocks slipped below their 200 SMA including Samvardhana Motherson International Ltd. (98.92, -3.6%) and Motherson Sumi Wiring India Ltd. (37.77, -3.1%).

 
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The Baseline
30 Jul 2025, 02:12PM
Five stocks to buy from analysts this week - July 29, 2025
By Omkar Chitnis

1. Dixon Technologies:

Emkay maintains a ‘Buy’ rating on this consumer electronics company with a target price of Rs 19,000, a 13.2% upside. Analysts Chirag Jain and Jaimin Desai note that Dixon is expanding its smartphone manufacturing capacity to over 45 million units by FY26, up from 28.3 million in FY25, driven by in-house manufacturing and a strong order book.

Analysts believe that the company’s in-house manufacturing, including display modules, camera modules, and precision components, along with its upcoming facility expansion, will reduce dependency on external suppliers and improve profitability across the value chain. For FY26, Dixon has planned a capital expenditure of Rs 1,200 crore to scale up its camera and display module capacities.

Management highlights that Dixon is diversifying into higher-value segments by focusing on assembling printed circuit boards (PCBs) for industrial and automotive applications. Analysts expect this move will help Dixon tap into new demand segments and expand its customer base beyond consumer electronics.

The company is also gaining traction in third-party manufacturing for brands such as Panasonic, Samsung and Motorola across its home appliances, consumer electronics, and IT hardware segments, supported by a strong order book. Analysts expect healthy volume growth in H2FY26, driven by festive demand and rising orders from new brands. They forecast revenue and profit to grow at a CAGR of 28% and 50% respectively, by FY28.

2. Mastek:

Geojit BNP Paribas has a ‘Buy’ rating on this IT consulting & software firm, with a target price of Rs 3,260, a 32.9% upside. Mastek reported revenue of Rs 915 crore in Q1FY26, up 12.5% YoY, led by strong growth in the UK and Europe. Its UK healthcare segment benefited from digital upgrades under the national health service, supported by a £10 billion government investment in electronic records.

The company's 12-month order backlog increased 8.3% to Rs 2,348 crore, supported by steady demand for digital engineering, data analytics, and Oracle-led projects in the healthcare and commercial sectors. Management expects deal activity to pick up in the second half of the year as recent go-to-market investments, new leadership hires, and sales team expansion begin to show results.

Analysts are optimistic on Mastek due to its strong client relationships and healthy order pipeline, projecting 13.7% revenue growth and 15.3% net profit growth over FY26–27.

3. PCBL Chemical:

Prabhudas Lilladhar initiates a ‘Buy’ rating on this refinery company, with a target price of Rs 474, a 21.2% upside. In Q1FY26, revenue declined 1.6% YoY to Rs 2,119 crore, due to lower carbon black (CB) sales volume and weak realisations. Net profit fell 20.3% to Rs 94 crore, primarily due to higher employee expenses and depreciation.

The management expects strong opportunities for PCBL in North America and Europe following the shutdown of Luxembourg-based carbon black manufacturer Orion's facilities. The company plans to add 20,000 metric tonnes per annum (MTPA) of specialty black capacity at Mundra, increasing the total to 132,000 MTPA by the end of FY26.

Kaushik Roy, M.D, notes, "We aim to achieve 1 million tons of CB capacity by FY28. To support this, we have planned a capital expenditure of Rs 3,500 crore over the next five years to expand manufacturing capacity and increase exports to Europe and the US.

Analysts Saurabh Ahire and Swarnendu Bhushan expect CB volumes to grow 8% in FY26, supported by capacity expansion. They project EBITDA per tonne to rise to Rs 20,392 from Rs 17,791, led by a higher contribution from specialty products.

Analysts Ahire and Bhushan note that PCBL is expanding its specialty carbon black capacity and entering high-margin segments such as superconductivity-grade carbon black, acetylene black, and nano silicon. These additions are expected to enhance the product mix and improve the margin per tonne. They estimate PCBL’s revenue and net profit to grow at a CAGR of 14% and 36%, respectively, over FY26–FY27.

4. HDFC Bank:

IDBI Capital maintains a ‘Buy’ rating on this bank with a target price of Rs 2,250, indicating an 11.3% upside. In Q1FY26, the bank’s net interest margin (NIM) dropped 11 basis points YoY to 3.3% due to rising deposit costs and the impact of policy rate cuts. The management expects NIMs to normalise in the range of 3.5-3.6% by the end of FY27.

Analyst Bunty Chawla notes that in Q1FY26, the bank reported muted growth in net interest income (NII) amid a slowdown in loan growth. Despite this, substantial other income from the HDB stake sale boosted operating profit by 49%. The bank’s gross non-performing assets increased seven bps YoY to 1.4%, led by higher slippages during the quarter.

The management highlighted that the bank’s credit-to-deposit (CD) ratio improved to 95% from 110% in FY24, driven by strong deposit growth. They aim to reduce the CD ratio to around 85% by FY27. 

Analysts expect short-term pressure on NIM due to slower loan growth, as the bank prioritises strengthening its balance sheet over aggressive lending, but Chawla maintains a positive long-term outlook. They project NII to grow at a CAGR of 11% over FY26–27, supported by stable asset quality and stronger credit growth.

5. CreditAccess Grameen:

ICICI Securities maintains a ‘Buy’ rating on this microfinance NBFC with a target price of Rs 1,400, a 23.6% upside. Analysts Renish Bhuva, Chintan Shah, and Gaurav Toshniwal highlight that the company performed better than most of its peers. Its credit cost was 8% in FY25, significantly lower than the industry average of over 10%, indicating a stronger asset quality and a resilient business model.

Analysts also believe that while the rest of the industry struggles with high costs from risky loans, CreditAccess Grameen is positioned for better results. This is due to its stable repayment trends, improving collections and limited stress from newer loans.

The company's management reports that although microfinance is still its core business, it is expanding into other areas like retail lending. This move helps to diversify its services and reduce overall financial risk. Consequently, the share of non-microfinance loans has more than doubled YoY in Q1FY26, now making up 6.8% of the business.

CA Grameen’s total provisions (safety fund for bad loans) declined for the third quarter in a row, which helped its net profit grow by 27% in Q1. Following this trend, analysts expect the company's net profit to grow at a CAGR of 76% over FY26–27.

Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

(You can find all analyst picks here)

 
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Trendlyne Marketwatch
29 Jul 2025, 03:59PM
Market closes higher, Apar Industries' Q1 net profit rises 29.8% YoY to Rs 262.9 crore
By Trendlyne Analysis

Nifty 50 closed at 24,821.10 (140.2, 0.6%), BSE Sensex closed at 81,378.84 (487.8, 0.6%) while the broader Nifty 500 closed at 23,007.35 (160.4, 0.7%). Market breadth is in the green. Of the 2,472 stocks traded today, 1,545 were in the positive territory and 889 were negative.

Indian indices closed higher after extending gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 4.5% and closed at 11.5 points. GAIL closed in the green as its Q1FY26 net profit beat Forecaster estimates by 22.9% despite falling 25.6% YoY to Rs 2,369.2 crore. Revenue increases 1.7% YoY to Rs 35,428.8 crore during the quarter.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, tracking the benchmark index. Nifty Pharma and S&P BSE Telecom were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 2.8%.

European indices are trading in the green, except Portugal’s PSI index, which is trading 0.2% lower. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the session as the US and China enter fresh talks to finalise a trade deal, with reports suggesting that the countries will extend the trade truce.

  • Money flow index (MFI) indicates that stocks like Anand Rathi Wealth, Global Health, Syrma SGS Technology, and Dixon Technologies are in the overbought zone.

  • Craftsman Automation is rising as its net profit grows 17% YoY to Rs 69.6 crore in Q1FY26, helped by inventory destocking. Revenue rises 55% YoY to Rs 1,784 crore, driven by improvements in the aluminium products and powertrain segments during the quarter. The company appears in a screener of stocks with increasing revenue every quarter for the past four quarters.

  • Apar Industries surges as its net profit grows 29.8% YoY to Rs 262.9 crore in Q1FY26, helped by lower finance costs and inventory destocking. Revenue increases 27.3% YoY to Rs 5,104.2 crore, driven by improvements in the conductors and power cables segments during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Amber Enterprises rises sharply as its Q1FY26 net profit grows 43.6% YoY to Rs 103.9 crore. Revenue jumps 43.6% YoY to Rs 3,478.8 crore, helped by improvements in the consumer durables, electronics and railway sub-system & defense segments. It features in a screener of stocks with increasing returns on equity (RoE), momentum and earnings yield.

  • Motilal Oswal retains a 'Neutral' rating on Balkrishna Industries with a lower target price of Rs 2,510. The brokerage highlights that the company continues to face challenges in key international markets, particularly due to weak global demand for Off-Highway tires. Investors are closely monitoring the company's expansion into new segments for traction and its effects on profit margins.

  • JK Paper's Q1FY26 net profit drops 41.9% YoY to Rs 81.2 crore due to higher raw materials, employee benefits, finance, and power & fuel expenses. Revenue declines 2.5% YoY to Rs 1,699.3 crore due to a reduction in the paper and packaging segments. The company's board of directors approves acquiring a 72% stake in Borkar Packaging for a cash consideration of Rs 234.6 crore.

  • Adani Power surges as its board of directors schedules a meeting for August 1 to consider a proposal for a stock split. The company will also announce its Q1FY26 results.

  • RPSG Ventures rises as its unit, RPSG Sports Ventures, acquires a 70% stake in England-based cricket franchise Manchester Originals for GBP 81.21 million (~ Rs 870 crore). The company aims to expand its presence in international sports assets, particularly in cricket.

  • Godfrey Phillips India gains over 2% as its board plans to consider the company’s first-ever bonus issue of shares alongside its Q1 financial results on August 4. The proposed bonus issue is in the ratio of 2:1, meaning shareholders will receive two fully paid-up equity shares of Rs 2 each for every one existing share held.

  • Varun Beverages is rising as its net profit grows 5.1% YoY to Rs 1,317 crore in Q1FY26, helped by lower finance costs. However, revenue decreases 2.5% YoY to Rs 7,017.4 crore due to unusually high unseasonal rainfall during the quarter. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past month.

  • NTPC Green Energy posts a Q1FY26 net profit of Rs 220.5 crore compared to Rs 138.6 crore in Q1FY25, helped by lower employee benefits expenses. Revenue jumps 23.8% YoY to Rs 751.7 crore during the quarter. It features in a screener of stocks with YoY growth in quarterly net profit and profit margin.

  • Gravita India is rising as its net profit grows 38.5% YoY to Rs 93.3 crore in Q1FY26, helped by lower finance costs. Revenue increases 14.6% YoY to Rs 1,039.9 crore, driven by improvements in the lead segment during the quarter. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Lenskart Solutions, an omnichannel eyewear brand, files its draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds via an initial public offering (IPO). The offer includes a fresh issue of equity shares worth up to Rs 2,150 crore and an offer for sale of up to 13.2 crore equity shares.

  • Piramal Pharma is falling as it reports a net loss of Rs 81.7 crore in Q1FY26. The loss narrowed from Rs 88.6 crore in Q1FY25. Revenue decreases 0.9% YoY to Rs 1,933.7 crore, due to weak performance in the contract development & manufacturing organisation (CDMO) segment. It shows up in a screener of stocks with PE higher than industry PE.

  • Waaree Energies is rising sharply as its Q1FY26 net profit jumps 89.1% YoY to Rs 745.2 crore, led by inventory destocking worth Rs 760.1 crore. Revenue grows 31.5% YoY to Rs 4,597.2 crore, attributed to improvements in the solar photovoltaic modules and engineering, procurement & construction (EPC) contracts segments. It appears in a screener of stocks with rising net cash flow and cash from operating activities.

  • Paradeep Phosphates surges to its all-time high of Rs 234.4 as it posts a Q1FY26 net profit of Rs 255.9 crore compared to a net profit of Rs 5.4 crore in Q1FY25, owing to lower finance costs and inventory destocking. Revenue jumps 57.8% YoY to Rs 3,781.4 crore during the quarter. It features in a screener of high DVM stocks among mid and largecaps.

  • Gensol Engineering, currently under the Corporate Insolvency Resolution Process (CIRP), issues an advertisement inviting bids from interested parties to lease 4,000 pre-owned electric vehicles on a fixed monthly rental basis. Companies operating EV cab services in major cities—such as Evera Cabs, Uber Electric, and Everest Fleet—are expected to participate in the bidding.

  • Five-Star Business Finance is falling as its Q1FY26 net profit misses Forecaster estimates by 4.2% despite rising 5.9% YoY to Rs 266.3 crore. Revenue increases 18.1% YoY to Rs 786.7 crore, driven by higher interest and fee-based income during the quarter. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past two months.

  • KEC International's Q1FY26 net profit grows 42.3% YoY to Rs 124.6 crore. Revenue increases 10.4% YoY to Rs 5,028.2 crore during the quarter, driven by strong project execution in the transmission and distribution (T&D) segment and lower interest expenses. The firm appears in a screener of stocks where foreign institutional investors (FIIs) are increasing their shareholding.

  • Torrent Pharmaceuticals rises to its all-time high of Rs 3,721.7 as its Q1FY26 net profit grows 19.9% YoY to Rs 548 crore, helped by lower raw materials and finance costs. Revenue jumps 8.9% YoY to Rs 3,141 crore, led by improvements in the Indian, Brazilian, European, and US markets. The company's board of directors appoints Aman Mehta as the Managing Director for the next five years, effective August 1.

  • Amarendu Prakash, Chairman and Managing Director of SAIL, projects sales volume growth of over 8% in FY26. He anticipates a 200 bps margin improvement in both H1 and H2FY26. He also expects the company’s net debt to decline by Rs 5,000 crore by the end of FY26. He believes that future profitability will depend on volume growth and cost efficiency.

  • PNC Infratech is rising as it secures a Rs 2,956.6 crore order from South Eastern Coalfields for coal extraction and transportation to various destinations in Chhattisgarh.

  • Mazagon Dock Shipbuilders falls sharply as its Q1FY26 net profit drops 35% YoY to Rs 452.2 crore due to higher procurement of spares, employee benefits, sub-contracting, power & fuel, project, and provisions expenses. However, revenue grows 10.9% YoY to Rs 2,914.9 crore, driven by improvements in order execution. It shows up in a screener of stocks with negative profit growth, where promoters are decreasing their shareholding QoQ.

  • GAIL is rising as its Q1FY26 net profit beats Forecaster estimates by 22.9% despite falling 25.6% YoY to Rs 2,369.2 crore due to higher material costs. Revenue increases 1.7% YoY to Rs 35,428.8 crore, driven by improvements in the petrochemicals and city gas segments during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • IndusInd Bank's Q1FY26 net profit plunges 68.2% YoY to Rs 684.3 crore due to rise in provisions and contingencies. Revenue decreases 2.3% YoY to Rs 12,263.9 crore, driven by lower contribution from the wholesale and treasury banking segments during the quarter. The bank's asset quality deteriorates as its gross and net NPAs expands by 162 bps and 52 bps YoY, respectively.

  • Nifty 50 was trading at 24,683.75 (2.9, 0.0%), BSE Sensex was trading at 80,620.25 (-270.8, -0.3%) while the broader Nifty 500 was trading at 22,856.10 (9.2, 0.0%).

  • Market breadth is in the green. Of the 1,941 stocks traded today, 1,015 showed gains, and 863 showed losses.

Riding High:

Largecap and midcap gainers today include Abbott India Ltd. (34,705, 5.5%), Varun Beverages Ltd. (512.15, 5.2%) and Hitachi Energy India Ltd. (19,745, 4.6%).

Downers:

Largecap and midcap losers today include Petronet LNG Ltd. (292.85, -2.8%), Mazagon Dock Shipbuilders Ltd. (2,720.40, -2.5%) and SBI Cards and Payment Services Ltd. (821.40, -1.9%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Apar Industries Ltd. (9,681.50, 11.7%), Affle 3I Ltd. (1,985.40, 7.9%) and Welspun Corp Ltd. (924.55, 7.1%).

Top high volume losers on BSE were Five-Star Business Finance Ltd. (649.35, -3.1%), Mazagon Dock Shipbuilders Ltd. (2,720.40, -2.5%) and Jubilant Pharmova Ltd. (1,153.60, -1.8%).

Go Digit General Insurance Ltd. (360.80, 4.9%) was trading at 43.6 times of weekly average. Happiest Minds Technologies Ltd. (619.35, 3.0%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,091, 0.9%) were trading with volumes 18.0 and 9.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52 week highs, while 5 stocks hit their 52 week lows.

Stocks touching their year highs included - Bosch Ltd. (39,915, 4.4%), EID Parry (India) Ltd. (1,208.80, 2.4%) and Fortis Healthcare Ltd. (848.65, 0.3%).

Stocks making new 52 weeks lows included - Colgate-Palmolive (India) Ltd. (2,215, 0.4%) and Tata Consultancy Services Ltd. (3,056, -0.8%).

22 stocks climbed above their 200 day SMA including Tata Chemicals Ltd. (1,000, 7.0%) and J B Chemicals & Pharmaceuticals Ltd. (1,802.60, 5.4%). 19 stocks slipped below their 200 SMA including Mangalore Refinery And Petrochemicals Ltd. (131.32, -2.7%) and Aavas Financiers Ltd. (1,760, -2.5%).

 
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Trendlyne Marketwatch
28 Jul 2025
Market closes lower, CDSL's net profit misses Forecaster estimates by 10% in Q1FY26
By Trendlyne Analysis

Nifty 50 closed at 24,680.90 (-156.1, -0.6%), BSE Sensex closed at 80,891.02 (-572.1, -0.7%) while the broader Nifty 500 closed at 22,846.95 (-167.9, -0.7%). Market breadth is highly negative. Of the 2,512 stocks traded today, 650 were on the uptrend, and 1,830 went down.

Indian indices closed in the red, weighed down by stocks like Kotak Mahindra Bank, Bharti Airtel, Bajaj Finance, Lodha Developers and Titan. The Indian volatility index, Nifty VIX, rose 7% and closed at 12.1 points. Kotak Mahindra Bank closed 7.3% lower as its net profit plunged 47.5% YoY to Rs 3,281.7 crore in Q1FY26 due to rise in provisions and contingencies. The bank's asset quality deteriorated as its gross NPA expanded 9 bps YoY.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. BSE Realty Index and Nifty Realty were among the top index losers today. According to Trendlyne’s Sector dashboard, Realty emerged as the worst-performing sector of the day, with a fall of 3.3%.

Asian indices closed mixed, while European indices are trading in the green. US index futures traded in the green indicating a positive start to the trading session. US President Donald Trump announced a major trade deal with the EU. The new deal allows the US to impose a 15% tariff on EU imports, including automobiles. In return, the EU will buy $700 billion in US energy, invest $600 billion in the US, and purchase American defense products. It also commits to zero tariffs on US goods.

  • Relative strength index (RSI) indicates that stocks like Laurus Labs, Syrma SGS Technology, Eternal, and Olectra Greentech are in the overbought zone.

  • Central Depository Services is falling as its net profit declines 23.7% YoY to Rs 102.4 crore in Q1FY26 due to higher employee benefits and computer technology related expenses. However, revenue increases marginally by 0.6% YoY to Rs 258.8 crore, driven by improvements in the depository activity segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Lodha Developers' Q1FY26 net profit grows 42% YoY to Rs 674.7 crore owing tax returns worth Rs 230.5 crore. Revenue jumps 24.2% YoY to Rs 3,624.7 crore, driven by low home-ownership levels, rising household incomes, strong affordability, and low mortgage rates. It features in a screener of stocks with the highest FII holdings.

  • L&T Technology Services secures a $60 million (Rs 510 crore) order from a US-based telecom provider to deliver advanced network software and application related engineering solutions.

  • Ashok Nair, MD of RPG Life Sciences, projects 11–13% revenue growth for FY26 with margins in the 23–24% range. He expects Naprocyin to become a Rs 100 crore brand within the next few years. He also notes that the company’s domestic business outpaced the industry in Q1, with new product launches contributing around 2.5% to overall growth. The restoration of the company's API business is expected to be completed by Q2FY26.

  • Schaeffler India's net profit grows 17% YoY to Rs 287.1 crore in Q1FY26. Revenue increases 11.7% YoY to Rs 2,352.6 crore, led by improvements in the automotive technologies, vehicle lifetime solutions, and bearings & industrial solutions segments. It features in a screener of stocks with high gains and high volume.

  • Alembic Pharma receives US FDA approval for its abbreviated new drug application (ANDA) for Carbamazepine Extended-Release tablets. The drug treats seizures and nerve pain. According to IQVIA, the drug had a market size of $71 million as of March 2025.

  • Amber Enterprises is rising as it signs a definitive agreement to acquire a 40.2% stake in Israel-based Unitronics for Rs 404 crore. Unitronics specializes in industrial automation products, including programmable logic controllers and human-machine interfaces.

  • A McKinsey & Company report reveals that only 20–25% of India’s 850 million internet users shop online, significantly lower than in mature markets like the US and China, where over 85% do. As of FY23, e-commerce makes up just 7–9% of India’s total retail sales, but this is expected to more than double to 15–17% by 2030, highlighting strong growth potential.

  • Poonawalla Fincorp rises sharply as its Q1FY26 net interest income (NII) beats Forecaster estimates by 1.3%. Revenue grows 31.9% YoY to Rs 1,314 crore, helped by improvements in assets under management (AUM). However, net profit plunges 78.5% YoY to Rs 62.6 crore due to higher finance, impairment on financial instruments, and employee benefits expenses. The company's board of directors approves raising Rs 1,500 crore through the preferential issue of equity shares to its promoters.'

  • Zen Technologies falls to its 5% lower limit as its net profit declines 37.8% YoY to Rs 47.8 crore in Q1FY26. Revenue decreases 37.9% YoY to Rs 158.2 crore due to delays in large orders caused by changes in design requirements. The company appears in a screener of stocks with PE ratio higher than the Industry average.

  • Sobha’s Q1FY26 net profit grows 124.8% YoY to Rs 13.6 crore. Revenue increases 34.6% YoY to Rs 901.4 crore, driven by higher sales and improved revenue realisation. The firm appears in a screener of stocks where mutual funds are increasing their shareholding.

  • TCS plans to reduce its workforce by approximately 2%, or around 12,000 jobs, by March 2026 as part of a restructuring effort to remain agile amid technological shifts, particularly in AI. CEO K. Krithivasan says that the move is driven by the need to realign skills, rather than AI replacing jobs, citing challenges in redeploying employees whose roles no longer align with future needs.

  • Petronet LNG is rising as its Q1FY26 revenue beats Forecaster estimates by 2.9% despite falling 11% YoY to Rs 12,096.5 crore. Net profit declines 23.8% YoY to Rs 841.9 crore due to higher employee benefits and depreciation & amortisation expenses. The company's board of directors approves setting up a 5 MMTPA greenfield LNG terminal with an estimated capex of Rs 6,354.8 crore.

  • IDFC First Bank's net profit plunges 29.4% YoY to Rs 453.5 crore in Q1FY26, impacted by a sharp rise in provisions and contingencies. However, revenue increases 9.7% YoY to Rs 9,642.2 crore, driven by improvements in the treasury, wholesale, and retail banking segments. The bank's asset quality improves during the quarter as its net NPA contracts by 4 bps YoY during the quarter.

  • Tata Chemicals’ Q1 FY26 net profit grows 68% YoY to Rs 252 crore, driven by an income tax refund and lower raw material costs. But, revenue declines 0.5% YoY to Rs 3,815 crore during the quarter, due to lower price realisations. The firm appears in a screener of stocks where foreign institutional investors (FIIs) are increasing their shareholding.

  • Nuvama maintains a 'Hold' rating on Cipla with a higher target price of Rs 1,651. The brokerage attributes Cipla’s performance to strong operational execution, with a Q1FY26 EBITDA margin of 25.6%, surpassing consensus by 103 basis points. Gross margins reached 68.8%, reflecting effective cost management. Key product highlights include Lanreotide, which has secured a 21% market share, along with recent launches of gAbraxane and Nilotinib.

  • Jefferies downgrades Indian Energy Exchange to an 'Underperform' rating with a lower target price of Rs 105 per share. The brokerage believes that the implementation of new market coupling norms from January 2026 will accelerate IEX's market share loss, estimating it to fall to 50% by FY28, down from over 80%.

  • RITES is rising as it secures a Rs 177.2 crore order from Bharat Electronics to construct a mass manufacturing facility for export-related defence equipment in Andhra Pradesh.

  • VA Tech Wabag secures a Rs 380 crore order from the Bangalore Water Supply and Sewerage Board (BWSSB) to construct wastewater treatment plants.

  • Satyanarayana Chava, Founder & CEO of Laurus Labs, expects to maintain the current EBITDA margin momentum with a target of 25% for FY26. He highlights a Q1 gross margin of 59% and anticipates it will stay within the 55-60% range in FY26. He also notes that the CDMO business is approaching Rs 500 crore in revenue, with the current run rate likely to continue.

  • ACME Solar Holdings surges as it posts a Q1FY26 net profit of Rs 130.8 crore compared to a net profit of Rs 1.4 crore in Q1FY25. Revenue jumps 71.8% YoY to Rs 584 crore, led by improvements in capacity utilisation and new capacity additions. It features in a screener of stocks with rising net profit margins QoQ and trailing twelve-month (TTM).

  • Steel Authority of India (SAIL) is falling sharply as its Q1FY26 net profit misses Forecaster estimates by 33.7% despite surging 9.1x YoY to Rs 744.6 crore, owing to lower raw materials and finance costs. Revenue grows 7.9% YoY to Rs 26,083.9 crore, helped by improvements in the Bokaro steel plant and alloy steels plant. It shows up in a screener of stocks with increasing trend in non-core income.

  • Bank of Baroda's Q1FY26 net profit grows 1.9% YoY to Rs 4,541.4 crore. Revenue increases 4.9% YoY to Rs 31,091.5 crore, driven by improvements in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs declines by 60 bps and 9 bps YoY, respectively.

  • Kotak Mahindra Bank is falling as its net profit plunges 47.5% YoY to Rs 3,281.7 crore in Q1FY26 due to rise in provisions and contingencies. However, revenue increases 8.6% YoY to Rs 13,836.5 crore, driven by improvements in the retail and wholesale banking segments during the quarter. The bank's asset quality deteriorates as its gross NPA expands 9 bps YoY.

  • Nifty 50 was trading at 24,751.25 (-85.8, -0.4%), BSE Sensex was trading at 81,299.97 (-163.1, -0.2%) while the broader Nifty 500 was trading at 22,961.30 (-53.5, -0.2%)

  • Market breadth is in the red. Of the 2,064 stocks traded today, 890 showed gains, and 1,101 showed losses.

Riding High:

Largecap and midcap gainers today include MphasiS Ltd. (2,703.80, 3%), Adani Green Energy Ltd. (1,003.90, 2.9%) and Shriram Finance Ltd. (633.45, 2.9%).

Downers:

Largecap and midcap losers today include Kotak Mahindra Bank Ltd. (1,966.60, -7.4%), Lodha Developers Ltd. (1,203.20, -6.0%) and SBI Cards and Payment Services Ltd. (837.10, -5.8%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Laurus Labs Ltd. (889.25, 6.2%), Aadhar Housing Finance Ltd. (516.55, 4.1%) and Global Health Ltd. (1,351.60, 2.2%).

Top high volume losers on BSE were Kotak Mahindra Bank Ltd. (1,966.60, -7.4%), SBI Cards and Payment Services Ltd. (837.10, -5.8%) and Steel Authority of India (SAIL) Ltd. (125.59, -3.9%).

TTK Prestige Ltd. (636.95, 1.0%) was trading at 12.4 times of weekly average. Carborundum Universal Ltd. (934.10, -2.6%) and Poonawalla Fincorp Ltd. (420.65, 1.8%) were trading with volumes 8.2 and 7.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks overperformed with 52 week highs, while 3 stocks hit their 52 week lows.

Stocks touching their year highs included - Fortis Healthcare Ltd. (846.65, 0.1%), Torrent Pharmaceuticals Ltd. (3,622.90, 0.5%) and UPL Ltd. (729.85, 1.1%).

Stocks making new 52 weeks lows included - Colgate-Palmolive (India) Ltd. (2,205.80, -0.5%) and Tejas Networks Ltd. (576.90, -4.1%).

10 stocks climbed above their 200 day SMA including MphasiS Ltd. (2,703.80, 3%) and Shriram Finance Ltd. (633.45, 2.9%). 47 stocks slipped below their 200 SMA including Tanla Platforms Ltd. (614.15, -5.4%) and Suzlon Energy Ltd. (60.85, -4.4%).

 
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The Baseline
25 Jul 2025
Five Interesting Stocks Today - July 25, 2025
By Trendlyne Analysis

1. One97 Communications (Paytm):

This fintech firm surged 6.8% over the past week after reporting a net profit of Rs 123 crore in Q1 FY26, its first quarter without any one-off gains. This was significantly above Forecaster's estimates, primarily due to cost optimisation and an increase in payment revenue. The company reported revenue growth of 32% YoY, driven by a jump in payment processing margins. The firm’s share price has gone up by 134% over the past year.

Paytm sharply reduced its expenses in Q1. Marketing and promotional expenses fell more than half YoY, while employee benefits declined by a third. These cost cuts helped the company post a positive EBITDA margin of 3.8%. CFO Madhur Deora said Paytm is working towards achieving a 15–20% EBITDA margin over the next two to three years, which is quite a hill to climb from the current level. In Q1, contribution margin stood at 60%, up meaningfully due to the upfront profitability of its non-default loss guarantee (non-DLG) lending model.

Under this new model, Paytm no longer bears the risk of customer defaults on loans issued via its platform, unlike its earlier default loss guarantee structure. According to Citi, this transition has played a key role in the stronger contribution margin. With loan penetration still low across its ecosystem, management sees ample room to scale its financial services business, especially in merchant lending.

With a 35% market share, the company currently serves 1.3 crore merchants who pay for devices and value-added services. CEO Vijay Shekhar Sharma sees much broader potential here. “We see the potential of over 10 crore merchants who will accept payments, and believe that, over a period of time, 40–50% of these merchants will need subscription services for managing their business needs,” he said during the earnings call.

Emkay Global maintains a ‘Buy’ rating on the company with a higher target price of Rs 1,350. The brokerage expects the company’s valuation to improve as it sustains profitability and expands its payments and financial services businesses. Emkay also highlights Paytm’s strong cash reserves and long-term growth potential as key positives in the current risk-reward equation.

2. Newgen Software Technologies:

ThisIT solutions company fell 17% over the past week after posting weakQ1FY26 results. The company's net profit plunged 54% QoQ to Rs 49.7 crore, while revenue dropped 21.2% QoQ to Rs 350 crore, and both missedforecaster estimates. The company underperformed across all regions.

The revenue miss wasdue to delays in closing large deals and cautious spending by clients amid global economic and geopolitical challenges. As a result, clients took longer to finalise purchases. License sales were particularly affected by a slowdown in large-scale license deals, especially from the banking sector. Virender Jeet, CEO of the company,said, “The number 1 challenge for us right now is the deal size. And that is the only difference that has happened in the business.”

The Indian businessdeclined 28%, while the Middle East businessfell by 25%. Both regionscontribute around 30% each to overall revenue. In India, demand from large private and public sector banks slowed down as major deals were already completed. In the Middle East, operations were disrupted by visa and travel restrictions in Saudi Arabia during the Hajj period, delaying deal closures and project execution.

To offset the slowdown in large deals, the company aims to increase the number of smaller deals to around 100, up from the current 60-70. It is also focussing on winning more deals in newer growth areas like fintech and non-banking financial companies (NBFCs).

In this quarter, the companyadded 12 new clients, a tally management considers healthy and in line with previous quarters. However, the averagedeal size was lower. Managementviews Q1 as an exception and expects growth to pick up in H2FY26. They believe the deal pipeline is strong and closures will improve as local issues like Saudi visa delays ease.

Following the results, IDBI Capitaldowngraded the stock to ‘Hold’ from ‘Buy’, citing near-term execution challenges and delays in large deal closures. However, it still remains positive on the company’s long-term prospects, supported by strong annuity growth, rising AI adoption, and a healthy pipeline across key verticals. But to get a boost from these, Newgen would need to beat the competition in deal closures.

3. Indian Energy Exchange (IEX):

Thiscapital markets company fell 30% on July 24 after the Central Electricity Regulatory Commission (CERC)announced a plan to change pricing regulation. CERC plans to overhaul electricity pricing through a market coupling mechanism across three power exchanges, starting from January 2026, rather than allowing IEX to determine price independently. 

Market coupling is a model in which buy and sell bids from all power exchanges in the country are aggregated and matched to discover a uniform market clearing price (MCP) for electricity across regions. It will also mean that there will be only one price for the electricity traded at any point in time across exchanges. 

Out of the three power exchanges—IEX, Power Exchange India, and Hindustan Power Exchange—IEX enjoys a 90% market share in electricity trading volumes. Currently, each power exchange collects buy and sell bids and discovers its own MCP. 

IEX derives 75% of its revenue from the real-time market and the day-ahead market segments (bids placed one day before). The implementation of a centralised mechanism reduces IEX’s independent pricing power and limits its ability to command higher trading margins, which in turn weighs on its revenue.

Rohit Bajaj, Joint Managing Director, notes, "The market coupling order will impact the business, and we expect a drop in volumes when the norms take effect from January 2026. If competition rises, we plan to reduce transaction charges to stay competitive and retain the leadership position in the market."

The implementation of market coupling enables generation companies to sell electricity to distribution companies in the day-ahead market, serving as an alternative to long-term power purchase agreements. This mechanism will benefit end consumers by reducing overall electricity tariffs.

Rupesh Sankhe, senior vice president for research at Elara Capital, says, "IEX currently holds a monopoly position in the day-ahead market. The implementation of market coupling is a major negative, and the company could lose nearly half its market share in the day-ahead segment and 25% of its overall revenues."

The company's revenue rose 19.2% YoY in Q1FY26, and net profit rose 25.1% YoY, driven by higher electricity trading volumes and renewable energy certificates.

Following CERC’s announcement, Bernstein reduced its price target to Rs 122 from Rs 160, while maintaining a 'Market-Perform' rating. The brokerage notes that IEX’s liquidity moat and market position have weakened, and the only way to compete now is through transaction fees.

4. Havells India:

This electrical equipment company rose over 3% on July 22 after Chairman & MD Anil Gupta outlined plans to use surplus cash to build capacity and enter newer geographies. Havells has already used part of its cash to build renewable energy capacity and secure a stable supply of solar equipment. He added that the company’s move into renewable energy aligns with its recent investments and expansion efforts.

However, Gupta flagged that it will take at least one more quarter for inventories to return to normal, both at factories and with dealers. Demand dropped this year as the strong monsoon limited summer sales, unlike last year when a hotter summer helped clear stock faster. As a result, the June quarter was more difficult, which is reflected in the Q1 results.

Havells' revenue fell 6% YoY in Q1, and net profit dropped 15% to Rs 348 crore due to the weak performance of its subsidiary Lloyd, and the electrical consumer durables segment. This was mainly due to an unexpectedly mild summer that lowered demand for cooling products. The cables & wires segment was a bright spot, helped by demand from infrastructure and industrial projects.

Executive Director Rajiv Goel said, “The challenges in Q1FY26 were transitory. We’re optimistic about Lloyd’s outlook over FY26 to Q1FY27 as demand and inventories improve. These inventory changes shouldn’t affect our margins in the coming quarters.”

He also noted that the solar business earned Rs 500 crore in FY25 and is expected to generate Rs 1,000–1,500 crore over the next couple of years. Havells has invested Rs 600 crore in Goldi Solar, a Gujarat-based panel manufacturer, to support this growth. The company aims to fully integrate solar module manufacturing, along with related supply chain operations, within 18 months.

Post results, ICICI Securities gave a ‘Buy’ rating, saying the dip in sales is temporary and doesn’t affect Havells’ long-term potential. The brokerage expects the company to gain market share, as smaller and unorganised players face pressure. It projects the company’s revenue and net profit to grow at 11.1% and 18.4% annually over FY26–27.

5. Nuvoco Vistas Corp:

This cement & cement products company hit a 52-week high of Rs 417 on July 18, driven by strong Q1 FY26 results. The company reported a 9.3% YoY revenue jump, fueled by higher pricing and 6% YoY volume growth. It surpassed Forecaster estimates by 1.9%, as pure cement realization grew 5.5% QoQ due to price hikes in the eastern region since March. The stock also appears on a screener of stocks with high momentum scores.

The company achieved a net profit of Rs 133.2 crore this quarter, a significant turnaround from last year's Rs 2.8 crore loss, thanks to lower material costs and reduced operational spending. Its EBITDA per tonne surged 42% YoY to Rs 1,019 on the back of stable fuel costs. The company plans to further cut operating costs by Rs 50 per tonne in FY26 by using efficient manufacturing processes and achieving faster turnaround times. Additionally, their Odisha plant is expected to be operational by Q3FY26, with all its primary cement material transported by rail lines.

Nuvoco Managing Director, Jayakumar Krishnaswamy, forecasts a 7-10% growth for the cement industry in FY26, expecting a significant surge after the monsoon season. He believes that the central government's substantial Rs 11 lakh crore capital expenditure plan will drive infrastructure development during the fiscal year.

Mr. Krishnaswamy noted a rise in slag cement prices in eastern India, driven by the growth of composite cement manufacturers in the region. He mentioned that slag cement availability is likely to remain tight in the coming quarters, leading to a notable increase in auction prices compared to three years ago. He also highlighted Nuvoco's strategic move, securing a 20-year contract with Tata Steel for 2.5 million tons of slag cement, covering 55–60% of its requirements.

PL Capital observes that Nuvoco, which holds 75% of its capacity in East India, has experienced improved prices since February, anticipating stronger demand. Although the monsoon season might temporarily slow demand and affect pricing until September, the brokerage expects a less severe decline than last year, bolstered by projected higher government capital expenditure and robust rural demand. Based on this outlook, PL Capital maintains an 'Accumulate' rating for Nuvoco, increasing its target price to Rs 422.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations

 
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Trendlyne Marketwatch
25 Jul 2025
Market closes lower, Shriram Finance's Q1 net profit misses Forecaster estimates by 1.9%
By Trendlyne Analysis

Nifty 50 closed at 24,837 (-225.1, -0.9%), BSE Sensex closed at 81,463.09 (-721.1, -0.9%) while the broader Nifty 500 closed at 23,014.80 (-286.3, -1.2%). Market breadth is sharply down. Of the 2,467 stocks traded today, 448 were on the uptick, and 1,981 were down.

Indian indices closed lower amid FII selling and uncertainty over the US-India trade deal. The Indian volatility index, Nifty VIX, rose 5.2% and closed at 11.3 points. Bajaj Finance closed 4.8% lower after its Q1FY26 net interest income (NII) missed Forecaster estimates by 18.9% despite growing 22% YoY to Rs 10,227 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Media and Nifty Capital Markets were among the top index losers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the worst-performing sector of the day, with a fall of 2.6%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading higher as investors anticipate trade agreements with the European Union and China ahead of the August 1 deadline, following recent deals with Japan, Indonesia, and the Philippines. Brent crude futures are trading higher after rising 1% on Thursday.

  • Money flow index (MFI) indicates that stocks like Anand Rathi Wealth, Olectra Greentech, Godrej Agrovet, and Gujarat Mineral Development Corp are in the overbought zone.

  • Shriram Finance is falling sharply as its Q1FY26 net profit misses Forecaster estimates by 1.9% despite growing 6.8% YoY to Rs 2,159.4 crore. Revenue grows 20.1% YoY to Rs 11,542.4 crore during the quarter. It shows up in a screener of stocks with low Piotroski scores.

  • Intellect Design Arena's Q1FY26 net profit falls 30.2% QoQ to Rs 94.4 crore due to higher employee benefit expenses. Revenue declines 1.9% QoQ to Rs 734.3 crore, driven by lower contract wins. The firm appears in a screener of stocks where foreign institutional investors (FIIs) are increasing their shareholding.

  • Cipla is rising as its net profit grows 10.2% YoY to Rs 1,297.6 crore in Q1FY26, helped by inventory destocking. Revenue increases 3.9% YoY to Rs 6,957.5 crore, driven by higher sales from the pharmaceuticals and new ventures segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding in the past month.

  • Stakeholders from India’s dairy sector are urging the government to reduce GST on ghee and butter to 5% at the upcoming 56th GST Council meeting. RS Sodhi, President of the Indian Dairy Association (IDA), says the current 12% GST on ghee is impacting both the industry and public health. He adds that it squeezes margins for organized players, while untaxed, often adulterated, informal products continue to flourish.

  • Bharat Dynamics receives an order worth Rs 809 crore from Armoured Vehicles Nigam (AVNL) to supply anti-tank guided missiles.

  • Emkay Global initiates coverage on CESC with a ‘Buy’ rating and a target price of Rs 225. The brokerage expects the company's capacity expansion in renewable energy and electricity tariff hikes to boost cash flow. It projects a net profit CAGR of 11% over FY26–28.

  • MphasiS falls as its Q1FY26 net profit misses Forecaster estimates by 3.1% after falling 1.1% QoQ to Rs 441.7 crore due to higher employee benefits, finance and tax expenses. However, revenue grows 1.2% QoQ to Rs 3,813.4 crore, driven by improvements in the banking & financial services, technology, media & telecom, and insurance segments. It shows up in a screener of stocks with RSI indicating price weakness.

  • RBI Governor, Sanjay Malhotra notes that the February repo rate cut is beginning to reflect in lower loan interest rates, benefiting borrowers. He emphasizes that curbing inflation remains the RBI’s top priority. Malhotra also mentions that RBI regulations will be reviewed every 5–7 years to ensure they stay relevant, promote innovation, and uphold financial stability.

  • Redtape rises sharply after the India–UK FTA removes 10–12% export tariffs on textiles. The move puts Indian exporters at par with rivals like Bangladesh and Cambodia in the UK market.

  • Trident rises sharply as its net profit surges 89.8% YoY to Rs 140 crore in Q1FY26, helped by lower raw material costs and inventory destocking. However, revenue falls 2.1% YoY to Rs 1,706.9 crore due to weaker sales in the yarn, bedsheets and towel segments during the quarter. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Indian Energy Exchange (IEX) rises sharply as its Q1FY26 net profit grows 25.2% YoY to Rs 120.7 crore, driven by lower finance costs and a deferred tax credit of Rs 5.4 crore. Revenue increases 19.2% YoY to Rs 184.2 crore, led by improvements in electricity volumes and renewable energy certificates (RECs) traded. It features in a screener of stocks with improving cash flow from operations over the past two years.

  • At ITC’s AGM, Chairman Sanjiv Puri announces plans to invest Rs 20,000 crore in the medium term to expand manufacturing across sectors. He notes challenges from weak external demand, import dumping, and inflation. Emphasizing strategic supply chain moves and value addition, he highlights that 65% of ITC’s revenue now comes from its non-cigarette businesses.

  • Cyient's Q1 net profit falls 9.7% QoQ to Rs 153.8 crore. Revenue declines 8.6% QoQ to Rs 1,781.5 crore, due to delays in project execution and higher marketing expenses. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past month.

  • REC's Q1FY26 net profit grows 29.1% YoY to Rs 4,465.7, helped by a Rs 609.8 crore return from reversal of provisions. Revenue jumps 13.2% YoY to Rs 14,824 crore, helped by improvements in loan assets and disbursements. It appears in a screener of stocks with high trailing twelve-month (TTM) EPS growth.

  • GR Infraprojects secures an order worth Rs 290.2 crore from the State Highway Authority of Jharkhand to construct a 26.6 km bypass road.

  • Sona BLW Precision Forgings falls over 2% after Rani Kapur, mother of the late businessman Sunjay Kapur, writes to the board requesting a postponement of the July 25 AGM. In her letter, she raises concerns regarding company governance, including issues related to document handling and family interests following her son's passing.

  • Hexaware Tech's Q2CY25 net profit rises 16.1% QoQ to Rs 379.9 crore. Revenue jumps 6.4% QoQ to Rs 3,420.7 crore, driven by strong growth in the financial services and travel & transportation segments. The company features in a screener of stocks where mutual funds have increased their shareholding over the past month.

  • Anant Raj is rising as its net profit grows 38.3% YoY to Rs 125.9 crore in Q1FY26, helped by lower finance costs. Revenue increases 25.6% YoY to Rs 592.4 crore, driven by new launches and strong demand during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Enviro Infra Engineers is rising as it secures an order worth Rs 221.2 crore from Bangalore Water Supply and Sewerage Board (BWSSB) to construct a sewage treatment plant.

  • Amar Kaul, MD & CEO of CG Power and Industrial Solutions highlights that Axiro Semiconductor acquisition has been completed by the company and he anticipates Axiro to generate revenue of Rs 400 crore in FY26. He believes that revenue growth momentum will be maintained in FY26 with margins coming in at 14-15% for the same period.

  • SBI Life Insurance is rising as its Q1FY26 net profit grows 14.4% YoY to Rs 594.4 crore, helped by lower provisions. Revenue increases 12.5% YoY to Rs 38,988.8 crore, led by improvements in premiums from the life insurance segment. It appears in a screener of stocks with increasing book value per share over the past two years.

  • KFIN Technologies is falling sharply as its Q1FY26 net profit misses Forecaster estimates by 3.7% despite growing 13.5% YoY to Rs 77.3 crore. Revenue rises 15.6% YoY to Rs 284.1 crore, driven by improvements in the domestic mutual fund investor solutions and issuer solutions segments. It shows up in a screener of stocks where promoters decrease their shareholding by more than 2% QoQ.

  • Phoenix Mills is rising as its net profit grows 3.5% YoY to Rs 240.7 crore in Q1FY26. Revenue increases 5.4% YoY to Rs 953 crore, driven by higher sales from the property services and hospitality segments during the quarter. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past month.

  • Bajaj Finance falls sharply as its Q1FY26 net interest income (NII) misses Forecaster estimates by 18.9% despite growing 22% YoY to Rs 10,227 crore. Net profit jumps 20.1% YoY to Rs 4,699.6 crore. Revenue increases 21.3% YoY to Rs 19,527.7 crore, helped by improvements in new loans booked and assets under management (AUM). It features in a screener of stocks with increasing revenue for the past eight quarters.

  • Nifty 50 was trading at 24,934.50 (-127.6, -0.5%), BSE Sensex was trading at 82 065.76 (-118.4, -0.1%) while the broader Nifty 500 was trading at 23,185.55 (-115.6, -0.5%).

  • Market breadth is moving down. Of the 1,978 stocks traded today, 543 were on the uptrend, and 1,364 went down.

Riding High:

Largecap and midcap gainers today include Phoenix Mills Ltd. (1,525.90, 5.4%), Cipla Ltd. (1,532.50, 3%) and Torrent Pharmaceuticals Ltd. (3,603.80, 2.4%).

Downers:

Largecap and midcap losers today include APL Apollo Tubes Ltd. (1,543.10, -8.5%), Union Bank of India (136.22, -6.0%) and Bajaj Finance Ltd. (913.75, -4.7%).

Volume Shockers

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

Top high volume gainers on BSE included Indian Energy Exchange Ltd. (145.02, 9.6%), Phoenix Mills Ltd. (1,525.90, 5.4%) and Home First Finance Company India Ltd. (1,479, 4.5%).

Top high volume losers on BSE were Intellect Design Arena Ltd. (1,036.40, -9.3%), APL Apollo Tubes Ltd. (1,543.10, -8.5%) and Grindwell Norton Ltd. (1,643.10, -6.7%).

Trident Ltd. (31.49, -0.1%) was trading at 17.6 times of weekly average. Metro Brands Ltd. (1,217.60, 1.0%) and eClerx Services Ltd. (3,646.80, -0.3%) were trading with volumes 16.7 and 14.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - eClerx Services Ltd. (3,646.80, -0.3%), ICICI Bank Ltd. (1,477.10, -0.4%) and Torrent Pharmaceuticals Ltd. (3,603.80, 2.4%).

Stocks making new 52 weeks lows included - Colgate-Palmolive (India) Ltd. (2,215.90, -1.9%) and Tejas Networks Ltd. (601.30, -3.3%).

7 stocks climbed above their 200 day SMA including Cipla Ltd. (1,532.50, 3%) and Supreme Industries Ltd. (4,311.70, 1.6%). 33 stocks slipped below their 200 SMA including APL Apollo Tubes Ltd. (1,543.10, -8.5%) and Latent View Analytics Ltd. (412.65, -4.0%).

 
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The Baseline
24 Jul 2025
By Abdullah Shah


Foreign investors took a step back from Indian markets in the second half of 2024, spooked by weak earnings, high valuations and global conflicts. Rising US yields also pulled money out of emerging markets. In the months that followed, foreign institutional investors (FIIs) became increasingly selective in their exposure to Indian markets.

That caution has only grown in 2025 with Donald Trump's return to the White House. This is despite falling inflation, the Reserve Bank of India's repo rate cuts and signs of economic recovery. Investors have to weigh these positives against Trump’s unpredictable moves, including aggressive tariffs. His threats, followed by walkbacks of the same threats, have kept global markets nervous and investors on their toes.

In India, FII flows have turned sharply sector-specific. Since July 2024, FIIs have sold equities worth Rs 82,121 crore overall. But they have selectively increased their bets in sectors that benefit from domestic demand, policy visibility, or structural reforms, while exiting those exposed to global risks.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, remarked, “Whenever valuations go beyond a particular level, FIIs turn sellers, and they sell aggressively. In March and April, the markets declined and valuations became reasonably attractive. So FIIs started buying in April, May, and June.”

This week’s Chart of the Week looks at how FIIs are shifting their bets across sectors. They are now making domestic-focused bets in telecom, financial services and overall services, while cautiously returning to power and oil & gas. Meanwhile, they continue to exit the FMCG, healthcare, and IT sectors. Amid global uncertainty, the tilt toward domestic growth is clear.

From global to local: FIIs pivot to the domestic market

FIIs have turned their attention to the telecom sector since the start of 2025, investing Rs 26,919 crore, compared to a Rs 270 crore divestment in the second half of 2024.

Favourable conditions in the sector, including rate hikes by telecom companies, strong 5G rollout, and a government push, have attracted investors. The telecom sector generates the majority of its revenue from the domestic market, making it less exposed to global uncertainties, like the impending import tariffs being proposed by President Trump.

After a prolonged period of increased competition and low tariffs, telecom service providers introduced rate hikes in 2024, which helped improve the average revenue per user (ARPU). 

Reports also suggest another 10-12% hike later in 2025, showing further potential for growth in ARPU. Under the National Telecom Policy 2025, the Indian government aims to double telecom exports and achieve 100% 4G and 90% 5G coverage by 2030. This is expected to attract investments of up to Rs 1.5 lakh crore in telecom infrastructure. 

Financial services is another domestic sector benefiting from FII interest, with FII investments turning bullish in 2025. After divesting Rs 31,940 in January and February, FIIs invested Rs 46,477 crore in the sector during March-July. 

Investor confidence in domestic lending growth and consumption-linked banking activity drove these investments. The Reserve Bank of India (RBI) has cut the repo rate three times in 2025 so far, bringing it down to 5.5%, prompting FIIs to favour Indian equities over debt instruments. 

Services is another sector that derives the majority of its revenue from the domestic market. FIIs have turned positive on this sector in 2025, investing Rs 10,027 crore so far compared to a net sales of Rs 447 crore in the second half of 2024.

Oil & gas and healthcare see mixed FII sentiment due to global uncertainties

After an eight-month selling streak in the oil & gas sector, FIIs turned net buyers in May-July 2025. FIIs have made a net investment of Rs 836 crore in the sector so far in 2025. 

Global oil prices fluctuated in 2024 due to geopolitical tensions and supply-demand imbalances. US sanctions on Russian crude oil and domestic policy adjustments, including changes in subsidies and taxation, added to uncertainty. However, Brent crude oil prices hovering around $70 per barrel, and reports suggesting a Rs 35,000 crore compensation from the government to oil marketing companies (OMCs) have led FIIs to resume investments in the sector in 2025. 

FII sentiment on the healthcare sector shifted to bearish in 2025. FIIs infused Rs 21,716 crore during the second half of 2024, compared to Rs 10,247 crore in divestments so far in 2025. The sell-off started after President Donald Trump threatened the Indian healthcare companies with import tariffs earlier in the year. 

Recently, President Trump threatened to impose a 200% import tariff on Indian pharmaceutical companies on July 9, after giving them 12-18 months to set up manufacturing facilities in the US. The Indian healthcare industry generated $9 billion (~ Rs 76,831 crore) in sales from the US in FY25. 

Amit Kumar, Research Analyst at HDFC Institutional Equities, said, “Indian healthcare peers, already operating on thin margins in the US generics, may struggle to absorb costs without passing them on to US consumers or insurers and face heightened risks of margin compression.”

FIIs eye India again amid cooling inflation, but tech still out of favour

Foreign investors often view the auto, consumer services, and IT sectors as a barometer of India’s economic prospects. These segments are closely tied to both domestic consumption and global trends, so they quickly reflect shifts in foreign investment sentiment. 

FIIs remained net sellers in the auto and consumer services sectors from September 2024. Their pullback reflected concerns about high inflation and rising interest rates, which typically reduce demand for non-essential goods like vehicles and services.

That trend now appears to be reversing. FIIs have started returning to these sectors due to easing inflation and recent rate cuts by the RBI, which could boost consumer spending.

Tech stocks, however, continue to face pressure. FIIs have been selling consistently amid weak global demand and tighter tech budgets in key markets like the US and Europe. 

Investors also shifted capital to Chinese stocks during September and October 2024, which had shown signs of recovery, supported by government stimulus and more attractive valuations. An IT sector analyst said, “If the revenue and earnings growth are in single digits, it is difficult to justify higher valuations in the IT sector. This is the reason for higher outflows by FIIs from the sector.”

Are FIIs shifting defensive bets from FMCG to power?

Foreign investors have continued to reduce their exposure to the FMCG and power sectors over the last two quarters of FY25, despite both being traditionally viewed as defensive plays during uncertain times. This suggests that FIIs are now focusing more on growth opportunities than on sticking solely to safe and stable sectors.

FII sentiment toward the power sector remained weak until March 2025 due to the poor financial health of power distribution companies, which often delay payments because of persistent losses. But now, there's a shift in mood.

FIIs turned buyers in July 2025, encouraged by signs of quicker policy action and faster execution of large projects. The ongoing rollout of smart meters has also lifted sentiment, as it promises better billing efficiency and improved cash flow for discoms (distribution companies). Analysts believe these changes could bring more predictability to the sector, making it more appealing for long-term investors.

High food inflation continues to weigh on the FMCG sector during Q3 and Q4 of FY24, particularly by eroding rural demand, which accounts for nearly 35-40% of total sales for many companies. At the same time, rising input costs have squeezed profit margins, as firms have struggled to pass on the burden to consumers fully. Commenting on the recent trends, Saugata Gupta, MD & CEO of Marico, said, “During the quarter, consumer sentiment stayed mostly stable, with some improvement in rural demand and mixed trends in urban areas. However, margins remained under pressure from input costs. Cooling inflation offers some hope for better consumption ahead.”

 
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Trendlyne Marketwatch
24 Jul 2025
Market closes lower, ACC's net profit misses Forecaster estimates by 25.1% in Q1,
By Trendlyne Analysis

Nifty 50 closed at 25,062.10 (-157.8, -0.6%), BSE Sensex closed at 82,184.17 (-542.5, -0.7%) while the broader Nifty 500 closed at 23,301.10 (-127.3, -0.5%). Market breadth is in the red. Of the 2,480 stocks traded today, 916 were gainers and 1,522 were losers.

Indian indices closed in the red amid delay in the US-India trade deal & FPI outflows. The Indian volatility index, Nifty VIX, rose 1.9% and closed at 10.7 points. India and the UK signed a Free Trade Agreement today during PM Modi’s visit. The deal aims to boost bilateral trade by £25.5 billion (approx. Rs 2.8 lakh crore) annually.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty PSU Bank and Nifty MidSmall Healthcare were among the top index gainers today. According to Trendlyne’s Sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 2.2%.

Asian indices closed mixed, while European indices are trading in the green except Russia’s MOEX & RTSI indices. US index futures traded mixed amid mixed Q2 earnings from giants like Alphabet, Tesla & IBM. Alphabet (Google’s parent company) posted Q2 revenue of $96.4 billion, exceeding the analysts estimate of $94 billion, driven by strong growth in core segments such as YouTube Advertising and Google Cloud.

  • Relative strength index (RSI) indicates that stocks like Anand Rathi Wealth, One97 Communications, Patanjali Foods, and Schneider Electric are in the overbought zone.

  • ACC is falling as its Q1FY26 net profit misses Forecaster estimates by 25.1% despite rising 4.4% YoY to Rs 375.4 crore, helped by inventory destocking. Revenue increases 18.1% YoY to Rs 6,036.1 crore, driven by higher sales from the cement and ready mix concrete segments during the quarter. The company appears in a screener of stocks with improving RoCE over the past two years.

  • B L Kashyap & Sons secures a Rs 152 crore order from Embassy Development for civil and structural work in Bengaluru.

  • Canara Bank rises to its 5% upper limit as its net profit rises 21.7% YoY to Rs 4,752 crore in Q1FY26. Revenue increases 8% YoY to Rs 31,002.8 crore, driven by improvements in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs declines by 145 bps and 61 bps YoY, respectively.

  • Manoj Verma, COO of Bikaji Foods, expects Hazelnut Factory, the recently acquired sweet brand, to generate Rs 100 crore in revenue this year, with margins rising to 10–12% as the business scales. He notes that exports currently contribute around 4% to Bikaji’s revenue and could reach Rs 125–130 crore this year. He also anticipates receiving Rs 50 crore annually under the government's Performance Linked Incentive (PLI) scheme.

  • Indian Bank rises sharply as its net profit rises 23.7% YoY to Rs 2,972.8 crore in Q1FY26. Revenue increases 8.3% YoY to Rs 16,282.7 crore, driven by improvements in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs declines by 76 bps and 21 bps YoY, respectively.

  • Larsen & Toubro's Buildings & Factories vertical secures an order worth Rs 2,500–5,000 crore from the Andhra Pradesh State Secretariat for construction of residential towers in Amaravati.

  • Nestle India is falling as its net profit declines 13.4% YoY to Rs 646.6 crore in Q1FY26, impacted by higher prices of core commodities such as cocoa, coffee, and milk. However, revenue increases 5.9% YoY to Rs 5,096.2 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Sudhir Singh, CEO of Coforge, targets EBIT margins of 14% for FY26, up from 13.2% in Q1. He remains confident that the company will outperform in H2CY25 as compared to its first half. Singh adds that the previously guided $85 million in capex will primarily go toward acquisitions and establishing an AI data center. He also clarifies that the company has no plans to acquire R Systems International.

  • Reliance Infrastructure and Reliance Power fall sharply after the Enforcement Directorate (ED) raids 40–50 locations linked to Anil Ambani. The searches are part of an investigation into suspected laundering of Rs 3,000 crore in Yes Bank loans.

  • Zydus Lifesciences is rising as it receives tentative approval from US FDA for Ibrutinib tablets. The drug is used for the treatment of Chronic lymphocytic leukaemia. According to IQVIA, the drug had a market size of $2.1 billion as of May 2025.

  • Coforge plunges as its Q1FY26 net profit misses Forecaster estimates by 6.2% despite rising 21.5% QoQ to Rs 317.4 crore, helped by a 70.2 crore gain from discontinued operations. Revenue jumps 8.2% QoQ to Rs 3,688.6 crore, driven by improvements in the Americas, Europe, Middle East & Africa (EMEA), Asia Pacific, and Indian markets. It features in a screener of stocks with declining RoE over the past two years.

  • India and the UK are set to sign a Free Trade Agreement today during PM Modi’s visit, aiming to boost bilateral trade by £25.5 billion (approx. Rs 2.8 lakh crore) annually. The deal, described as India’s most comprehensive and the UK’s most significant post-Brexit, includes zero-duty access for 99% of Indian goods, benefiting MSMEs and labor-intensive sectors. Tariff reductions will make British goods like whisky, gin, cars, cosmetics, and medical devices more affordable in India.

  • Bikaji Foods International's Q1FY26 net profit grows 2.3% YoY to Rs 59.9 crore. Revenue jumps 14.4% YoY to Rs 662.6 crore, driven by higher demand in its ethnic snacks and packaged sweets segments. The company appears in a screener of stocks where mutual funds have increased their shareholding over the past month.

  • Lupin is rising as it receives US FDA approval for its abbreviated new drug application (ANDA) for Liraglutide and Glucagon injectable vials. The drug is a bioequivalent of Novo Nordisk's Victoza injection and is used for the treatment of type 2 diabetes mellitus. According to IQVIA, the drug had a market size of $458 million as of May 2025.

  • IEX falls sharply as the electricity regulator CERC approves the implementation of market coupling with the Day-Ahead Market (DAM) from January 2026. Market coupling merges electricity bids from all power exchanges to determine a single clearing price.

  • The Rs 4,000 crore IPO of National Securities Depository (NSDL) is set to open on July 30 and close on August 1, featuring an offer for sale of 5 crore shares by key shareholders including NSE, Union Bank, SBI, HDFC Bank and IDBI Bank. The company is targeting a Rs 16,000 crore valuation.

  • Force Motors' Q1FY26 net profit grows 52.4% YoY to Rs 176.3 crore. Revenue jumps 22.2% YoY to Rs 2,322.3 crore, driven by higher sales in the commercial and passenger vehicle segments. The firm appears in a screener of stocks where foreign institutional investors (FIIs) are increasing their shareholding.

  • Supreme Petrochem is falling as its net profit declines 33.6% YoY to Rs 80.9 crore in Q1FY26, impacted by higher employee benefits and depreciation & amortisation expenses. Revenue decreases 11.9% YoY to Rs 1,386.5 crore due to lower exports during the quarter. The company appears in a screener of stocks with PE ratio higher than the Industry average.

  • Natco Pharma’s board approves acquisition of a 35.7% stake in South Africa-based Adcock Ingram Holdings for Rs 2,000 crore. The deal will give Natco Pharma entry into the Southern African market.

  • India’s Composite PMI rises to 60.7 in July from 58.4 in June, driven by growth in total sales, export orders, and output. Meanwhile, the Services PMI eases to 59.8 from 60.4, indicating continued expansion, though at a slightly slower pace and still strong by historical standards.

  • Tilaknagar Industries is rising after entering a definitive agreement to acquire the Imperial Blue whisky brand from Pernod Ricard India for Rs 4,150 crore. Imperial Blue is the third-largest whisky brand in India by volume and reported revenue of Rs 3,067 crore in FY25.

  • Dr Reddy's Laboratories is rising as its Q1FY26 net profit grows 1.8% YoY to Rs 1,418.1 crore. Revenue increases 12.4% YoY to Rs 8,862.4 crore, driven by improvements in the Indian and European markets. It features in a screener of stocks with the highest FII holdings.

  • BEML is rising as it secures an order worth Rs 293.8 crore from the Ministry of Defence to supply 150 units of 6x6 heavy mobility vehicles (HMVs).

  • Infosys' Q1FY26 net profit falls 1.6% QoQ to Rs 6,921 crore due to higher employee benefit expenses. However, revenue rises 3.3% QoQ to Rs 42,279 crore, driven by higher sales from Europe during the quarter. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past quarter.

  • Nifty 50 was trading at 25,204.90 (-15, -0.1%), BSE Sensex was trading at 82,779.95 (53.3, 0.1%) while the broader Nifty 500 was trading at 23,428.10 (-0.3, 0%).

  • Market breadth is ticking up strongly. Of the 1,965 stocks traded today, 1,311 were gainers and 591 were losers.

Riding High:

Largecap and midcap gainers today include Ipca Laboratories Ltd. (1,540.80, 5.5%), Canara Bank (113.51, 5.3%) and Indian Bank (652.15, 4.4%).

Downers:

Largecap and midcap losers today include Coforge Ltd. (1676, -9.4%), Persistent Systems Ltd. (5,174, -7.7%) and Nestle India Ltd. (2,322.10, -5.3%).

Volume Rockets

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

Top high volume gainers on BSE included Olectra Greentech Ltd. (1,532.40, 15.5%), Rainbow Childrens Medicare Ltd. (1,623.90, 5.8%) and Ipca Laboratories Ltd. (1,540.80, 5.5%).

Top high volume losers on BSE were Indian Energy Exchange Ltd. (132.32, -29.6%), Coforge Ltd. (1,676, -9.4%) and Persistent Systems Ltd. (5,174, -7.7%).

JBM Auto Ltd. (674.05, 4.5%) was trading at 13.2 times of weekly average. G R Infraprojects Ltd. (1,282, 1.6%) and Supreme Petrochem Ltd. (810, -1.0%) were trading with volumes 12.2 and 8.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks took off, crossing 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - DCM Shriram Ltd. (1,432, -0.7%), EID Parry (India) Ltd. (1,186.40, 0.2%) and Fortis Healthcare Ltd. (846.55, 2.8%).

Stocks making new 52 weeks lows included - Colgate-Palmolive (India) Ltd. (2,259.50, -1.1%) and Indian Energy Exchange Ltd. (132.32, -29.6%).

14 stocks climbed above their 200 day SMA including Olectra Greentech Ltd. (1,532.40, 15.5%) and Ipca Laboratories Ltd. (1,540.80, 5.5%). 15 stocks slipped below their 200 SMA including Indian Energy Exchange Ltd. (132.32, -29.6%) and MphasiS Ltd. (2,653.50, -3.0%).

 
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The Baseline
24 Jul 2025
Five stocks to buy from analysts this week - July 24, 2025
By Divyansh Pokharna

1. Polycab India:

Sharekhan reiterates its ‘Buy’ rating on this cables and wires (C&W) manufacturer with a target price of Rs 8,000, a 16.9% upside. In Q1FY26, the company posted a 26% YoY revenue growth, driven by strong performance in both the C&W and fast-moving electrical goods (FMEG) segments. Exports rose 24% and made up 5.2% of total revenue, with the management aiming to grow this to 10% by 2030. Net profit grew 49% YoY during the quarter. Both revenue and profit exceeded Forecaster estimates.

Analysts highlight that the management is optimistic about domestic demand, supported by ongoing infrastructure projects and growth in the real estate sector. They expect real estate projects to play a key role in boosting wire sales, as it accounts for about 70% of demand in that segment.

Polycab’s order book stands at Rs 10,000 crore, with Rs 8,000 crore linked to the Bharat Net project (a government drive to expand broadband in rural areas). Analysts are optimistic as the company plans to bid for more such projects and has stated it faces no working capital concerns for executing them. During the quarter, Polycab spent Rs 410 crore on capex and plans to invest over Rs 6,000 crore in the next five years. It expects these investments to generate returns worth 4 to 5 times the amount spent.

2. Marico:

Emkay maintains a ‘Buy’ rating on this personal products company with a target price of Rs 810, indicating a 14.6% upside. Analyst Nitin Gupta notes that the company’s short-term performance may be affected by rising copra prices in both India and Indonesia. Over the past six months, copra prices have gone up by about 35% in Indonesia and around 70% in India due to the early arrival of the monsoon.

Gupta expects current cost pressures to ease as market supplies improve in the coming months, which is in line with the company’s view. He believes margins will recover in H2, helped by stronger volumes and better cost control. This, in turn, is likely to support double-digit growth in earnings.

For its India business, analysts expect Marico to slightly reduce volumes as copra prices ease in the coming months. The company is expected to stay cautious, since dealing with high-cost inventory in the supply chain is difficult. While Marico usually keeps its prices steady during inflation, the recent sharp rise in copra prices has led to monthly price hikes—adding up to a total increase of about 55% in the last six months.

3. Astral:

Axis Direct maintains a ‘Buy’ rating on this plastic pipes maker with a target price of Rs 1,680, a 14.1% upside. Analyst Eesha Shah notes that Astral is actively expanding both in India and overseas to tap into new growth opportunities. The company has opened marketing offices in Dubai to target the African and Middle Eastern markets with value-added products. It also plans to launch 12–14 new products from its overseas plants. For FY26, Astral has set a capex target of Rs 250–300 crore.

Astral’s pipes business saw only single-digit volume growth in FY25, mainly due to fluctuating polymer prices, which fell by 18% during the year, and lower government spending. Its adhesive segment reported a 12% EBITDA margin, down by 120 bps, because of volatility in raw material prices and high operating costs. Looking ahead, the company expects EBITDA margins to improve to around 17–18%.

Hiranand Savlani, Director & CFO, said, “We’re focused on adding more value-added products—these may not boost volumes much, but they deliver higher margins.”

Shah expects Astral’s revenue and net profit to grow at a CAGR of 16.7% and 25.9%, respectively, over FY26–FY27.

4. Fine Organic Industries:

Anand Rathi initiates a ‘Buy’ rating on this specialty chemical company, with a target price of Rs 6,400, a 18.7% upside. In FY25, revenue increased by 7.8%, supported by higher exports and strong demand for its chemicals.

Analyst Nitesh Dhoot notes that in Q3 FY25, the management signed an agreement with the Jawaharlal Nehru Port Authority (JNPA) to establish a 70 kilo tonnes per annum (ktpa) manufacturing facility in a Special Economic Zone (SEZ) in Maharashtra to increase exports. The company also plans to establish a unit in South Carolina, US.

Analysts write that the company's international expansion will strengthen its presence and create new growth opportunities once facilities become operational. They expect the company to generate Rs 900 crore in cash by FY27 and project Fine Organic’s revenue and net profit to grow by 11.6% and 15.6%, respectively, over FY26–28.

Mukesh Shah, Chairman, notes, “Domestic demand for chemicals is growing at 8–10% CAGR. We expect the Patalganga facility, with a capacity of 10 ktpa, to reach full utilisation by the first half of FY27. We also plan to increase the facility’s capacity over the next 6 to 8 months to meet the rising demand.”

5. ICICI Lombard General Insurance Company:

Motilal Oswal reiterates its ‘Buy’ rating on this general insurance company with a target price of Rs 2,400, a 25.9% upside. In Q1FY26, the company's revenue rose 14.3% YoY to Rs 6,408 crore, driven by higher growth in auto and health segment premiums. Net profit grew 28.7% to Rs 747 crore, supported by strong investment income.

Management is prioritising profitability over volume in the auto, business insurance, and retail health insurance segments, and avoiding aggressive pricing. Analysts Prayesh Jain and Nitin Aggarwal note that the company is not expanding in the auto insurance segment due to intense competition. They expect margins to improve in third-party auto insurance if the Insurance Regulatory and Development Authority of India (IRDAI) approves the proposed rate hike.

Analysts note that ICICI Lombard is gaining traction in the retail health segment, supported by product innovation and expanding distribution. They expect the industry to gradually recover in FY26, supported by infrastructure spending and a rebound in auto sales, which could support growth. 

Management aims to reduce the retail health loss ratio (claims paid to premiums earned) to below 70% this fiscal year, compared to 74.3% in FY25, through improved pricing and product mix. Analysts believe this focus on retail health, along with recovery in the business insurance segment and improved industry pricing, will support growth. They expect 23% profit growth in FY26.

Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

(You can find all analyst picks here)

 
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The Baseline
24 Jul 2025
China's electric tech is building James Bond cars, and entering new industries
By Swapnil Karkare

On July 11, the Chinese company Moonshot AI launched a new, cutting-edge AI model, Kimi K2. The scientific journal Naturecalled it ‘another DeepSeek moment’. But it did not get the DeepSeek buzz, and barely anyone in the general public noticed. 

Many recent China news stories, in fact, haven’t caught much media attention. ByteDance for instance, the makers of TikTok, has quietly beaten Meta to become the world’s largest social media company by revenue in the first quarter of this year. China has also announced that it will spend $8.5 billion to boost new start-ups in AI.

Governments are watching -- and they are worried. At the G7 summit earlier this month, German Finance Minister Lars Klingbell said that they are looking at how to limit China's economic power. "There are concerns that the G-7 countries are losing influence," he said.

As China becomes increasingly dominant in tech innovation and trade, countries see their domestic economy and industry is under threat. They may have good reasons to worry. Many sci-fi films - from Bladerunner to Terminator - are based in the US. But the future may very well be Chinese.

China is getting closer to building a James Bond car

Remember the cars of the fictional British spy? James Bond has cars with missile launchers and ejector seats, that can even run underwater.

The new launches at the Shanghai Auto Show this year felt like something out of a Bond flick. For instance, the Nio ET9 can turn into a full-fledged 5D theatre, with shaking seats, moving suspension, and AC that syncs with movie action scenes. I would be very interested to find out what happens to that car while playing a Rohit Shetty film.

BYD is attracting travel vloggers with inbuilt drone cameras for its cars. Nio’s Onvo L60 has a fridge, while Ora has added thoughtful touches for women like menstrual pain relief and a built-in emergency alert.

As driving and car-charging tech became standard, automakers are in a race to be different by adding other software with more capabilities. The advantage now is all in the software, which is why such cars are called Software-Defined Vehicles (SDVs). 

Software-first approach gives Chinese cars the edge

Consider Xiaomi. It has launched an electric car in 2024 that runs on HyperOS — the same system used in its phones and gadgets. The car becomes just another machine in the company's Mi ecosystem, which also includes robot mops, smart watches and lamps.

Xiaomi cars pack premium features like a Tesla — LiDAR, 800V charging, air suspension — but keeps prices low by cutting margins. AI tech powers everything from self-driving to real-time defect detection. It’s a software-first car compared to Tesla, which is a car with a tech edge. 

While Tesla still leads the EV category in the Wards Intelligence rankings for both 2023 and 2024, the leaderboard is shifting fast. In 2023, Tesla was followed by Lucid (US), Rivian (US), Nio (China), and Polestar (Sweden).

But in 2024, Chinese players Nio, Xiaomi and Xpeng occupied second, third and fourth positions, respectively, pushing Rivian down to fifth. Xiaomi grabbed the third place in its first year making electric vehicles. This is a competitor to fear.

The Squid Game - survival of the fittest - in the auto sector

State support and smart engineers have played a big role in China's tech rise. But competition is the X factor here.

The pressure in China's market is brutal.  Out of nearly 500 new electric vehicle makers in 2018, over 90% have failed, and another 80% are expected to disappear in the next five years. This Darwinian race has left only the most innovative and financially smart companies still standing.

This approach has killed many entrepreneurial dreams in China, but it has helped the economy and people. China became a net exporter of cars in the last few years, from being a net importer in 2020. And average EV prices in China are down by 14% since 2023. 

One company, many different industries

Right now, BYD is busy building the world’s largest battery storage facility of 12.5GWh in Saudi Arabia. It is applying all its EV knowhow to other industries. It is using its signature blade battery across industries to make energy storage systems, and borrowing the lithium iron phosphate chemistry and ceramic insulation tech from its cars.

Many components used in EVs — like batteries, motors, power electronics, and software — are also used in drones, robots, and home appliances. This modular approach to manufacturing is known as the “Lego block” structure. The knowledge from making smartphones and cars is now being used in drones and AI-driven gadgets. 

China's electric tech stack is powering new products across the economy

Electric batteries, motors, power electronics and computing are the main drivers of innovation in China right now. It's being called China’s ‘electric tech stack’.

Two main aspects have helped them develop this stack. The first is domestic control over the full value chain. From mining lithium, cobalt, and rare earths to refining, battery production, and final assembly, Chinese firms can develop vertical integration faster, fix supply chain bottlenecks, reduce costs and launch products quickly.

Second is the location. In places like Shenzhen, suppliers, engineers, and factories operate next to each other. Engineers can walk from the design studio to the assembly line, solving problems quickly. Similarly, an EV maker in Shanghai can get all its components in just four hours from Changzhou, a place that handles 31 of the 32 steps in battery production, covering 97% of the value chain.

It's a bird...it's a car? China's push for a flying economy

If you can build a car, why not a flying one? Backed by a mature EV supply chain, Chinese companies like Ehang, XPeng, Autoflight, and Geely’s AeroFugia are building eVTOLs (electric vertical takeoff and landing vehicles) using the same battery and technology. 

China is pushing for a low-altitude flying economy, with air taxis, drone deliveries, etc., with a roadmap that includes pilot licenses, aerial tolls, and eVTOL test zones.

At the centre of it all is DJI, which commands over 70% of the global drone market. With over 2.2 million civilian drones flying across China, their use in warfare has drawn scrutiny. Beijing is also ramping up drone production for defence, including a mosquito-sized surveillance drone that’s light, silent, and controlled via smartphone.

Are robots going mainstream?

Unitree's G1 robot, available for online purchase, has recently gone viral online and nicknamed 'Uncle Bot' for its natural movement and behavior. Many Chinese tech players including car makers are leaning into robotics.

Robotics and electric cars share deep technological overlap — both rely on sensors, batteries, motors, and advanced algorithms. Around 70% of components are interchangeable between these sectors. That’s why automakers like BYD, Xiaomi, SAIC, GAC, XPeng, and Huawei are entering robotics.

XPeng’s Iron Robot, for instance, uses the navigation systems of autonomous vehicles. GAC Group’s GoMate robot runs on EV battery packs. 

China has over 230,000 robotics firms, supported by a roadmap to mass-produce humanoid robots and build a $43 billion industry by 2035. XPeng’s chairman urged an EV-style policy support for robots, predicting similar explosive growth. 

AI investment is much lower in China compared to the US

AI is poised to be the main computing agent in all applications, products, and services. The government is driving AI investments through labs, data centres, and partnerships with firms like Alibaba and ByteDance. It is going to invest $56 billion out of a total $84–98 billion projected in 2025.

This is opposite of the US, where almost all investment is private sector-driven. For instance, AI capex by US tech Big 4 (Amazon, Alphabet, Microsoft, and Meta) is estimated to be $302 billion in 2025, whereas for China’s Big 4 (Alibaba, Baidu, ByteDance, and Tencent) it is at $51 billion. Absolute spending in the US is almost six times higher than China. 

Will this tech stack help China dominate the world?

China’s manufacturing scale is reshaping global markets. It’s a leader in many areas like batteries, solar panels, rare earth production, drones and robotics. Its dominance gives it geopolitical leverage, as recently seen in the case of rare earths. 

China-made products are no longer inferior to their Western counterparts in terms of quality and functionality. They are also usually 20–40% cheaper. That forces countries to impose tariffs and curb trade. But that has not stopped innovation in China. 

For instance, Nvidia was asked not to export chips to China by the US government, creating a shortage of chips in China. Nio, which relied on Nvidia chips earlier, now uses its own ET9 chips. “It’s precisely the shortage of semiconductors that is leading China to develop their own faster,” says Frank Bournois, dean of the China Europe International Business School in Shanghai.

Still, challenges remain. Global firms are diversifying supply chains, while China faces a slowing economy, youth unemployment, ageing demographics, and a post-Covid trust deficit — making global dominance harder. But the Chinese government is ambitious, and so far, its efforts have been paying off.