Stock Market Today: All You Need To Know Going Into Trade On July 25

China is set to lead Asian stocks higher on optimism of more economic stimulus to come from Beijing, while Wall Street markets started the week with gains ahead of key central bank rate decisions.

Future contracts for Hong Kong stocks rallied almost 3%, while those in Japan and Australia also pointed to solid rises in early Tuesday trading.

The Dow Jones Industrial Average rose for an 11th straight day — its longest winning run since 2017. The S&P 500 traded near 4,550, while the Nasdaq 100 underperformed after a “special rebalance” that took effect Monday.

Meanwhile, Brent crude was above $82 a barrel and West Texas Intermediate was around the $78-mark. The yield on the 10-year U.S. bond was trading at 3.87%, whereas Bitcoin was below 30,000-level.

At 5:39 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 19,981.

India's benchmark stock indices declined for the second consecutive session on Monday as heavyweights Reliance Industries Ltd. and Kotak Mahindra Bank Ltd. dragged the indices after June quarter earnings.

Fast-moving consumer goods and oil and gas sectors declined, while pharmaceutical company shares were up. The indices swung between gains and losses through the day before ending lower.

The S&P BSE Sensex Index closed down 300 points, or 0.45%, at 66,384.78, while the NSE Nifty 50 Index was 73 points, or 0.37%, lower at 19,672.35.

Overseas investors in Indian equities remained net sellers for the second straight session on Monday. Foreign portfolio investors offloaded stocks worth Rs 83 crore, while domestic institutional investors remained net buyers and mopped up stocks worth Rs 934.87 crore.

The local currency strengthened 13 paise to close at Rs 81.83 against the U.S. dollar on Monday.

• Reliance Industries: The company will invest Rs 378 crore in Mercury Holdings, a 50:50 joint venture between Brookfield Infrastructure and Digital Realty. It also committed to further invest up to Rs 622 crore via equity and debt.

• Maruti Suzuki: The carmaker has recalled 87,599 S-Presso and Eeco models manufactured between July 5, 2021, and Feb. 15, 2023. The recall is over a possible defect in a part of the steering tie rod that may break and affect vehicle steerability and handling.

• Vedanta: The company’s application under the government's Modified Semi-Scheme for fab manufacturing is under consideration for approval. The company will also apply for display manufacturing under the Modified Display Scheme.

• Federal Bank: The lender has approved allocating 23 crore shares at Rs 131.9 apiece to eligible, qualified institutional buyers.

•  SJVN: The company has bagged five hydropower projects totalling 5097 MW in Arunachal Pradesh's Dibang Basin. The investment will be worth Rs 50,000 crore.

• Tata Steel: The company approved re-appointing T. V. Narendran as the chief executive officer and managing director of the company for a further period of five years from Sept. 19, 2023, till Sept. 18, 2028. 

•  AstraZeneca Pharma India: The Drugs Controller General of India has granted permission to the company to import pharmaceutical formulations of a new drug for sale or distribution in Form CT-20, which is a marketing authorisation, for Dapagliflozin tablets of dosage 10 mg. Dapagliflozin Tablets are used to treat heart failure in adults.

• Wipro: Wipro FullStride Cloud has partnered with data storage solutions company Pure Storage to incorporate sustainable technology practices into clients’ technology infrastructure.

• Tata Steel (Consolidated, YoY)

  • Revenues down 6.21% at Rs 59,489.6 crore vs. Rs 63,430.07 crore (Bloomberg estimate: Rs 56,337.8 crore).

  • Net Profit down 91.84% at Rs 633.95 crore vs. Rs 7,764.96 crore (Bloomberg estimate: Net loss of Rs 122.3 crore).

  • Ebitda down 65.45% at Rs 5,173.82 crore vs. Rs 14,972.8 crore (Bloomberg estimate: Rs 5,050.5 crore).

  • Ebitda Margin at 8.7% vs. 23.61% (Bloomberg estimate: 9%)

• DCM Shriram Q1FY2024 (Consolidated, YoY)

  • Total revenue from operations was down 1% to Rs 2,937.17 crore vs. Rs 2,971.83 crore.

  • Net profit down 78% at Rs 56.58 crore vs. Rs 253.96 crore.

  • Ebitda down 62% to Rs 166.02 crore vs. Rs 436 crore.

  • Ebitda margin at 5.7% vs. 14.7%

• JK Paper Q1FY2024 (Consolidated, YoY)

  • Total revenue from operations is up 11% at Rs 1,584.36 crore vs. Rs 1,430.23 crore.

  • Net profit up 18% at Rs 312.56 crore vs. Rs 264.23 crore.

  • Ebitda up 13% at Rs 477.19 crore vs. Rs 423.13 crore.

  • Ebitda margins at 30.1% vs. 29.6%

• Spandana Sphoorty Financial Q1FY2024 (Standalone, YoY)

  • Revenues up 108% at Rs 468.93 crore vs. Rs 225.84 crore.

  • Net interest income up 105% at Rs 273.69 crore vs. Rs 133.39 crore.

  • Net profit of Rs 111.13 crore vs. net loss of Rs 222.69 crore

• Waaree Renewable Technologies Q1FY2024 (Consolidated, YoY)

  • Revenues up 36% at Rs 128.94 crore vs. Rs 95.03 crore.

  • Net Profit up 12% at Rs 11.11 crore vs. Rs 9.92 crore.

  • Ebitda up 22% at Rs 15.99 crore vs. Rs 13.05 crore.

  • Ebitda margin at 12.4% vs. 13.7%

• Chennai Petroleum Corporation Q1FY2024 (Consolidated, YoY)

  • Revenues down 34% at Rs 17,985.67 crore vs. Rs 27,449.52 crore.

  • Net profit down 76% to Rs 556.5 crore vs. Rs 2,357.62 crore.

  • Ebitda down 72% at Rs 949.87 crore vs. Rs 3,406.59 crore.

  • Ebitda margin at 5.3% vs. 12.4%

• IIFL Securities Q1FY2024 (Standalone, YoY)

  • Revenue up 27% at Rs 58.59 crore vs. Rs 46.15 crore.

  • Net interest income up 14% at Rs 41.123 crore vs. Rs 30.87 crore.

  • Net profit up 73% at Rs 68.96 crore vs. Rs 39.79 crore.

• Shoppers Stop Q1FY2024 (Consolidated, YoY)

  • Revenues up 5% at Rs 993.61 crore vs. Rs 948.44 crore.

  • Net profit down 37% to Rs 14.49 crore vs. Rs 22.83 crore.

  • Ebitda up 6% at Rs 171.86 crore vs. Rs 162.5 crore.

  • Ebitda margin at 17.3% vs. 17.1%

Amber Enterprises India, Apollo Pipes, Asian Paints, Aurionpro Solutions, Bajaj Auto, Cyient, CEAT, Delta Corp., Dixon Technologies (India), Jubilant FoodWorks, Jyothy Labs, KPIT Technologies, Larsen & Toubro, Mahindra Holidays and Resorts, Mindspace Business Parks REIT, Hitachi Energy India, RattanIndia Power, SBI Life Insurance Company, Sundaram-Clayton, Tata Motors, Suzlon Energy, and UTI Asset Management Company.

• Usha Martin: Sixteenth Street Asian Gems Fund bought 16.5 lakh shares (0.5%) at Rs 329.07 apiece. 

• Lloyds Metals And Energy: Om Hari Halan sold 35 lakh shares (0.7%) at Rs 560.93 apiece.

• Ex-date Dividend: Carborundum Universal, Transport Corporation of India, Cholamandalam Investment and Finance, Kirloskar Brothers, Orient Cement, KEC International, Paushak

• Ex-date Interim dividend: Bhansali Engineering Polymers

• Ex-date AGM: Carborundum Universal, Transport Corporation of India, Cholamandalam Investment and Finance, VIP Industries

• Record date dividend: Kirloskar Brothers, Paushak, KEC International

• Move Into Short-Term ASM Framework: Transformers and Rectifiers (India), Sterling, and Wilson Renewable Energy

• Move Out Of Short-Term ASM Framework: PC Jeweller.

• Godrej Properties: To meet investors and analysts on Aug. 2.

• Lupin: To meet investors and analysts on Aug. 4.

• Navin Fluorine International: To meet investors and analysts on Aug. 1.

• Rossari Biotech: To meet investors and analysts on July 31.

• Ultratech Cement: To meet investors and analysts on July 25.

• ITC: To meet investors and analysts on July 27.

• HT Media: To meet investors and analysts on July 28.

• Piramal Enterprises: To meet investors and analysts on July 28.

• Urgo Capital: To meet investors and analysts on Aug. 2.

• Bharat Petroleum Corporation: To meet investors and analysts on July 27.

• Multi Commodity Exchange Of India: To meet investors and analysts on July 31.

• Cigniti Technologies: To meet investors and analysts on July 31.

• Triveni Turbine: To meet investors and analysts on Aug. 2.

• Shriram Finance: To meet investors and analysts on July 27.

• Go Fashion (India): To meet investors and analysts on July 31.

• UPL: To meet investors and analysts on July 31.

• Birlasoft: To meet investors and analysts on July 27.

• Ajanta Pharma: To meet investors and analysts on July 27.

• Dixon Technologies (India): To meet investors and analysts on July 27.

• Blue Star: To meet investors and analysts on Aug. 4.

• Coromandel International: To meet investors and analysts on July 28.

• Delta Corp.: To meet investors and analysts on July 27.

• Dhampur Bio Organics: To meet investors and analysts on July 27.

• Macrotech Developers: To meet investors and analysts on July 28.

• Adani Green Energy: To meet investors and analysts on July 31.

• Asian Paints: To meet investors and analysts on July 27.

• Fino Payments Bank: To meet investors and analysts on July 31.

• PSP Projects: To meet investors and analysts on July 27.

• Vaibhav Global: To meet investors and analysts on Aug. 3.

• Music Broadcast: To meet investors and analysts on July 28.

• Bajaj Auto  

• Borosil  

• DCM Shriram  

• Digital Infrastructure Trust

• Jyothy Labs   

• Lloyd's Metals and Energy

• Mahindra Holidays & Resorts India

• Orient Bell  

• Poonawalla Fincorp   

• Raghav Productivity Enhancers  

• TVS Holdings   

• TTK Healthcare  

• UTI Asset Management Co.

• Nifty July futures ended at 19,681.60, a discount of 94.80 points.

• Nifty July futures fell 13.7%, with 27,216 shares in open interest.

• Nifty Bank July futures ended at 45,988.30, a discount of 119.75 points.

• Nifty Bank July futures fell 19.65% with 27,914 shares in open interest.

• Securities in the ban period: Delta Corp., Indiabulls Housing Finance, Punjab National Bank, Canara Bank, and RBL Bank

The Indian rupee closed 0.16% lower at 81.83 against the U.S. dollar on Monday.

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