Closing Bell: Sensex, Nifty flat; auto, energy gain, FMCG drag

Indian benchmark indices ended marginally higher in the volatile session on July 30. At close, the Sensex was up 99.56 points or 0.12 percent at 81,455.40, and the Nifty was up 21.20 points or 0.09 percent at 24,857.30.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

The domestic market ended flat, due to by profit-booking at higher levels. However, the expectation of dovish comments from the US Fed and BoE in the upcoming policy meetings this week is supporting the optimism. The investors will also closely monitor comments from BoE and BoJ. The BOE is expected to lower rates due to rising unemployment and easing inflation, while the BOJ is likely to increase rates in response to surging inflation, potentially causing market volatility.

The domestic market ended flat, due to by profit-booking at higher levels. However, the expectation of dovish comments from the US Fed and BoE in the upcoming policy meetings this week is supporting the optimism. The investors will also closely monitor comments from BoE and BoJ. The BOE is expected to lower rates due to rising unemployment and easing inflation, while the BOJ is likely to increase rates in response to surging inflation, potentially causing market volatility.

After a muted opening, the Index surged higher under the leadership of the Energy and Auto counters but then towards the end of the session, pared off a majority of its gains to settle the day at 24,857.30 with gains of 21.20 points. Broader markets extended their streak of outperformance as Mid and Smallcaps advanced further with gains of 0.45% & 0.86% respectively.

Nifty50 has made a DOJI candlestick pattern which indicates an indecisiveness between the bulls and bears. A psychological level of 25,000 will continue to act as a strong barrier while immediate support is placed at 24,800 followed by 24,660.

Indian rupee ended flat at 83.72 per dollar on Tuesday versus Monday's close of 83.73.

Indian benchmark indices ended marginally higher in the volatile session on July 30.

At close, the Sensex was up 99.56 points or 0.12 percent at 81,455.40, and the Nifty was up 21.20 points or 0.09 percent at 24,857.30. About 2074 shares advanced, 1378 shares declined, and 79 shares unchanged.

Top Nifty gainers included BPCL, NTPC, Tata Motors, Power Grid Corp and Asian Paints, while losers were Cipla, LTIMindtree, SBI Life Insurance, Grasim Industries and Sun Pharma.

Except FMCG and Healthcare, all other sectoral indices ended in the green with power, realty and auto up 0.5-1 percent.

BSE Midcap index was up 0.3 percent and Smallcap index rose 0.9 percent.

#1 Q1 EBITDA was 33 percent above expectations as both margin & revenue surprised

#2 Company is market leader in domestic defense electronics

#3 Company benefits from spend across the Army, Navy and Air force

#4 Management remains upbeat on order flow outlook

#5 Non-defence progress remains muted

#6 FY24-FY27 should see double-digit revenue growth based on order book and pipeline

#1 Q1 showed weak set of numbers with EBITDA down 56 percent QoQ but was 21 percent ahead of estimate

#2 EBITDA came higher than estimate on higher marketing inventory gains while refining was weaker

#3 Company remains vulnerable with no change to retail prices post elections

#4 Refining margin should remain rangebound, keeping integrated margin under pressure

#5 Keep FY25/26 estimates largely unchanged; risk-reward is unfavorable after steep rally

Indian Rupee traded in a rangebound manner. Strength in the domestic markets and weak crude oil prices supported the Rupee. However, a positive US Dollar and FII outflows capped sharp gains. US Dollar strengthened ahead of the FOMC meeting with some inflows towards the greenback.

We expect Rupee to trade with a slight negative bias on positive US Dollar ahead of FOMC meeting and trimming expectations of a rate cut by the US Federal Reserve. Month-end Dollar demand from importers and OMCs may further pressurise the Rupee. However, a positive tone in the domestic markets and weak crude oil prices may support the Rupee at lower levels. Investors may remain cautious ahead of FOMC, BoE and BoJ meeting this week. USDINR spot price is expected to trade in a range of Rs 83.50 to Rs 84.

#1 Revenue Up 11.5% At Rs74.5 Cr Vs Rs66.8 Cr (YoY)

#2 EBITDA Down 66% At Rs8.9 Cr Vs Rs26.2 Cr (YoY)

#3 Margin At 12% Vs 39% (YoY)

#1 Revenue Up 26.7% At Rs1,885 Cr Vs Rs1,487.5 Cr (YoY)

#2 EBITDA Up 38% At Rs249.3.6 Cr Vs Rs180.6 Cr (YoY)

#3 Margin At 13.2% Vs 12.1% (YoY)

#1 Revenue Up 8.4% At Rs3,611.6 Cr Vs Rs3,333 Cr (YoY)

#2 EBITDA Up 17.8% At Rs487.6 Cr Vs Rs414 Cr (YoY)

#3 Margin At 13.5% Vs 12.4% (YoY)

#1 Revenue down 5.4% At Rs365 Cr Vs Rs386 Cr (YoY)

#2 EBITDA down 45% At Rs36.1 Cr Vs Rs65.6 Cr (YoY)

#3 Margin At 10% Vs 17% (YoY)

The broad market valuations are currently high, but sectors with strong growth prospects, such as manufacturing, electronics, IT, renewables, healthcare, e-commerce, infra, agriculture, and consumption, remain attractive. Some areas are expensive, so it is crucial to focus on stock fundamentals, avoid overvalued stocks, and adopt an accumulation strategy.

Targeting specific stocks and sectors is advisable. To achieve better returns and ensure safety, consider rotating out of recent outperformers and shifting to value sectors, as overall market conditions are expected to improve in the coming years.

Further, the improvements in rural areas, agriculture, and government expenditure are anticipated to benefit sectors connected to the domestic economy, such as staples, FMCG, fertilizers, telecom, cement, pharma, and consumer services.

#1 Net profit up 5.6 percent at Rs 77.8 crore versus Rs 73.7 crore, YoY

#2 Revenue up 27 percent at Rs 941.4 crore versus Rs 741.4 crore, YoY

#3 EBITDA up 16.1 percent at Rs 145 crore versus Rs 125 crore, YoY

#4 Margin at 15 percent versus 16.9 percent, YoY

#1 Net profit at Rs 2.6 crore versus loss of Rs 1.2 crore, YoY

#2 Revenue up 17.8 percent at Rs 84.2 crore versus Rs 71.5 crore, YoY

#3 EBITDA up 15.8 percent at Rs 6.6 crore versus Rs 5.7 crore, YoY

#4 Margin at 7.8 percent versus 8 percent, YoY

#1 New India’s price increase in 25% of its health portfolio

#2 No price increase by New India Assurance in its flagship health products

#1 Q1 EBITDA came well below estimate

#2 GRM was expectedly down QoQ from USD 7/bbl to USD 5/bbl, slightly ahead of our USD 4.5/bbl estimate

#3 Miss was primarily on account of an LPG under recovery of Rs 250 crore

#4 Net income at Rs 360 crore (down 87 percent QoQ) was therefore, well below Rs 890 crore estimate

#5 Government has not announced any budgetary compensation for LPG

#6 Compensation for LPG could possibly be announced later in year, will help OMCs reverse these under-recoveries

The company  secured a contract for constructing residential colony in New Delhi (Phase II) worth approximately Rs 1,237 crore including taxes and duties.

#1 Company reported earnings well ahead of estimates

#2 Company saw pick up in rural along with strong execution

#3 Higher than expected gross margins along with operating leverage benefits helped

#4 Company delivered an impressive growth in revenues led by confluence of macro factors

#1 Net loss at Rs 39.7 crore versus loss of 8.2 crore, YoY

#2 Revenue down 51 percent at Rs 69,4 crore versus Rs 142.8 crore, YoY

#3 EBITDA loss at Rs 46.2 crore versus EBITDA profit of Rs 3.1 crore, YoY

#4 Appoints Mugdha Amol Khare as chief financial officer of the company w.e.f. August 02, 2024

#1 Net profit at Rs 103.8 crore versus Rs 48 crore, YoY

#2 Revenue up 8.8 percent at Rs 5,003.1 crore versus Rs 4,600.2 crore, YoY

#3 EBITDA up 19.4 percent at Rs 183.7 crore versus Rs 153.8 crore, YoY

#4 Margin at 3.7 percent versus 3.3 percent, YoY

#1 Net profit up 61.2 percent at Rs 150.7 crore versus Rs 94 crore, YoY

#2 Revenue up 5.9 percent at Rs 563 crore versus Rs 531.4 crore, YoY

#3 EBITDA up 60.2 percent at Rs 177.5 crore versus Rs 110.8 crore, YoY

#4 Margin at 31.5 percent versus 20.9 percent, YoY

Thomas Cook (India) has partnered with National Payments Corporation of India (NPCI), to launch its first RuPay prepaid forex card for Indian travellers visiting the UAE; technology being enabled by NPCI Certified

Partner, CARD91.

Developed by NPCI, RuPay is the first-of-its-kind domestic Card payment network of India.

#1 Net profit up 27.1 percent at Rs 32.8 crore versus Rs 26 crore, YoY

#2 Revenue up 16.1 percent at Rs 104.1 crore versus Rs 89.7 crore, YoY

#3 EBITDA up 33.7 percent at Rs 37.3 crore versus Rs 27.9 crore, YoY

#4 Margin at 35.8 percent versus 31.1 percent, YoY

The company board approved sub-division/ split of the existing equity shares of the company, such that each equity share having face value of Rs 5 each fully paid-up, be sub-divided/split into such number of equity shares having face value of Rs 2 each fully paid-up, subject to the approval of equity shareholders of the company  through postal ballot.

Akums Drugs and Pharmaceuticals Ltd's IPO was 0.3 times subscribed so far on its opening day, July 30, with retail investors showing the strongest interest.

Retail investors displayed the most enthusiasm, subscribing to 1.1 times their allotted quota. Non-institutional investors (NIIs) followed with 0.4 times their reserved portion, while Qualified Institutional Buyers (QIBs) bid for 308 shares out of the 81.4 lakh shares allocated to them.

The IPO. which aims to raise Rs 1,856.74 crore, will close for subscription on August 1, with shares expected to debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 6.

A meeting of the Board of Directors of the company is scheduled to be held on August 2, 2024, to consider and approve the proposal for buyback of fully paid-up equity shares of Re 1 each of the company, including

matters related / incidental thereto.

360 One Wam, ADF Foods, Allied Digital Services, Aegis LogisticS, Ajanta Pharma, Apar Industries, Carborundum Universal, Castrol India, Dixon Technologies (India), eMudhra, Exide Industries, Fine Organic Industries, Force Motors, Firstsource Solutions, Gail (INDIA), Granules India, IndiaMART InterMESH, Indus Towers, Indian Oil Corporation, Johnson Controls-Hitachi Air Conditioning India. Jindal Stainless, Lloyds Engineering Works, Lloyds Metals And Energy, Macrotech Developers, MOIL, Navin Fluorine International, PTC Industries, Skipper, Star Health and Allied Insurance Company, Sterlite Technologies, Tata Consumer Products, TCPL Packaging, Titagarh Rail Systems, Torrent Power, TVS Supply Chain Solutions, Urja GlobaL, V2 RETAIL, Varun Beverages, Vardhman Textiles, Waaree Renewable Technologies, Zaggle Prepaid Ocean Services, among other to announce Q1 earnings today.

#1 Net profit up 66.7 percent at Rs 441.1 crore versus Rs 265 crore, YoY

#2 Revenue up 12 percent at Rs 4,939 crore versus Rs 4,410 crore, YoY

#3 EBITDA up 38.2 percent at Rs 839.6 crore versus Rs 607.7 crore, YoY

#4 Margin at 17 percent versus 13.8 percent, YoY

#1 Net profit up 23.8 percent at Rs 150.2 crore versus Rs 121 crore, YoY

#2 Revenue up 15.7 percent at Rs 2,060.4 crore versus Rs 1,780.5 crore, YoY

#3 EBITDA up 21.8 percent at Rs 214.4 crore versus Rs 176 crore, YoY

#4 Margin at 10.4 percent versus 9.9 percent, YoY

This next-generation payment device combines NFC technology with mobile QR payments, offering an affordable device for card payments to millions of offline merchants, said the company in an exchange filing.

#1 Net profit down 87.5 percent at Rs 355.8 crore versus Rs 2,842 crore, QoQ

#2 Revenue unchanged at Rs 1.14 lakh crore, QoQ

Sanjiv Goenka has plans to ramp up expansion of the chemicals and carbon black business and target a group market capitalisation of Rs 2 lakh crore over the next 30 months.

In conversation with CNBC-TV18's Shereen Bhan, RP-Sanjiv Goenka Group's Sanjiv Goenka shared capex plans of his diversified business interests and said the group will spend about Rs 35,000 crore as capex over next 12-18 months, which will be scaled up to Rs 50,000 cr in the next three years. Read More

#1 Net profit down 22.8 percent at Rs 359.7 crore versus Rs 466 crore, YoY

#2 Revenue down 0.9 percent at Rs 5,154.9 crore versus Rs 5,201 crore, YoY

#1 Net profit down 19.1 percent at Rs 93 crore versus Rs 115 crore, YoY

#2 Revenue up 8.2 percent at Rs 4,587 crore versus Rs 4,241 crore, YoY

#3 EBITDA down 1 percent at Rs 378 crore versus Rs 382 crore, YoY

#4 Margin at 8.2 percent versus 9 percent, YoY

#1 Net profit down 37.6 percent at Rs 129 crore versus Rs 206.6 crore, YoY

#2 Revenue down 6 percent at Rs 1,151 crore versus Rs 1,223 crore, YoY

#3 EBITDA down 49.3 percent at Rs 123.6 crore versus Rs 244 crore, YoY

#4 Margin at 10.7 percent versus 19.9 percent, YoY

#1 Q1 earnings data showed EBITDA in-line

#2 1Q volumes grew 9 percent YoY, which were a beat

#3 Realisation was lower 3 percent QoQ Vs estimate of 2-2.5 percent QoQ dip

#4 PAT at Rs 360 crore Vs estimate of Rs 380 crore was lower 22 percent YoY on higher depreciation

#5 Cash position dipped due to opportunistic buying of input material (RM, fuel) & capex purposes

#1 Net profit at Rs 43.9 crore versus Rs 12.1 crore, YoY

#2 Revenue up 81.9 percent at Rs 171 crore versus Rs 94 crore, YoY

Shares of Jindal Saw rose nearly 8 percent and hit a 52-week high of Rs 648 on July 30 after the company posted a year-on-year rise in its consolidated net profit and revenue for the quarter ended June.

The steel pipe maker's Q1 FY25 net profit rose 70.5 percent YoY to Rs 416.4 crore and the revenue rose 12.1 percent YoY to Rs 4,984.8 crore. In the corresponding period of the preceding fiscal, Jindal Saw's net profit was Rs 244,4 crore and revenue was Rs 4,447.4 crore. Read More

Investors rushed to book profits across shares of Data Patterns (India), sending it down over 2 percent to Rs 3,280 per share on July 30 after it reported robust April-June quarter (Q1FY25) results.

The company's total revenue from operations rose by 16 percent on-year to Rs 104 crore in Q1FY25 from Rs 89 crore in Q1FY23. Profit-after-tax (PAT) also increased by 27 percent YoY to Rs 33 crore in Q1FY24 from Rs 26 crore in the year-ago period.

Meanwhile, EBITDA grew by 33 percent YoY to Rs 28 crore in Q1FY25. As of June 30, 2024, Data Patterns' order book stood at Rs 1,017 crore. Read More

#1 Net loss at Rs 49.3 crore versus loss of Rs 50.4 crore, YoY

#2 Revenue up 6 percent at Rs 646.6 crore versus Rs 610.7 crore, YoY

#3 EBITDA up 31 percent at Rs 63 crore versus Rs 48.1 crore, YoY

#4 Margin at 9.7 percent versus 7.9 percent, YoY

Oberoi Realty has entered into a Development Agreement for development and redevelopment of land admeasuring approximately 2,576 square meters, situate at Carter Road, Bandra (West), Mumbai.

The company expects to currently generate a free sale component of around 40,000 square feet (RERA Carpet area) from the development and redevelopment of the said Land.

#1 Q1FY25 profit was 11 percent above expectations

#2 Fixed cost under recovery was Rs 200 crore Vs Rs 100 crore YoY, impact was offset by higher coal/gas PLFs

#3 Q1 capacity addition was muted at 90 MW

#4 Management guides for 23 GW addition over FY25E-27 led by renewables

#5 Renewable energy capacity ramp-up remain re-rating drivers

#6 Pilot initiatives on green hydrogen remain re-rating drivers

L&T Technology Services and PS Technology (PST), a wholly

owned subsidiary of Union Pacific Railroad announced a strategic partnership around Mobility aimed at bringing cutting-edge simulation

technology to the railways market in India and adjacent geographies.

The companies have signed a Memorandum of Understanding (MoU) to focus on the design, development and supply of advanced AI-based simulation technologies, poised to significantly enhance the operational efficiency and safety of rail infrastructure in India and overseas.

#1 Net profit up 79.5 percent at Rs 220.8 crore versus Rs 123 crore, YoY

#2 Revenue up 46.6 percent at Rs 949.7 crore versus Rs 647.7 crore, YoY

#1 Net profit up 33 percent at Rs 364 crore versus Rs 273.7 crore, YoY

#2 Revenue up 13.1 percent at Rs 1,496.7 crore versus Rs 1,323.7 crore, YoY