Trendlyne Marketwatch
Trendlyne Marketwatch
31 Jul 2024
Market closes higher, Mahindra & Mahindra’s revenue grows 10.8% YoY to Rs 37,010.1 crore in Q1FY25
By Trendlyne Analysis

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Riding High:

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

Downers:

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

Movers and Shakers

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

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

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

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

BSE 500: highs, lows and moving averages

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

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

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

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

 
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