On Tuesday, 1592 stocks advanced, 2344 declined and 92 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.68, indicating negative closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.
On NSE, 72 securities advanced and closed at a new 52-week high whereas 51 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Metal, Nifty IT and Nifty FMCG among the biggest gainers. Nifty PSU Bank, Nifty Auto and Nifty Energy among the biggest losers.
Power Finance Corporation (-4.82%) reported 20.06% rise in its net profit at Rs7,182.06 crore for the quarter ended June 30, 2024 as compared to Rs5,982.14 crore for the same quarter in the previous year. Total income of the company increased by 17.69% at Rs24,736.68 crore for Q1FY25 as compared to Rs1,017.81 crore for the corresponding quarter previous year.
Absolute Sports, a Nazara Technologies (-0.76%) subsidiary and the parent company of Sportskeeda.com, ProFootballNetwork.com and SoapCentral.com, signed an asset purchase agreement, subject to closing conditions, to acquire all the assets of DeltiasGaming.com, a premier source of gaming and esports content in the US. The transaction is for an all-cash consideration of $900000 (Rs7.5 crore) to be paid over one or more tranches and is expected to be closed in the next 45 days. Absolute Sports will use its cash reserves to fund the transaction.
Tech Mahindra (+1.86%) entered into a strategic partnership with Horizon3.ai, a leader in autonomous security to elevate the cybersecurity landscape. The partnership will integrate Horizon3.ai's cutting-edge NodeZero platform, delivering integrated threat detection, AI-powered pentesting, and Governance, Risk, and Compliance (GRC) insights, with Tech Mahindra's comprehensive suite of cybersecurity services.
Uno Minda (-0.49%) raised Rs150 crore through the allotment of 15,000 unsecured, listed, rated, redeemable, nonconvertible, non-cumulative, taxable bonds in the nature of Non-Convertible Debentures (NCDs) having face value of Rs 1,00,000 each on Private Placement basis to the identified investor in second tranche in two series i.e., of Rs50 crore (Series I) and Rs100 crore (Series II) respectively. The company is in the process of applying for the listing of these aforesaid Debentures at BSE, Designated Stock Exchange. The NCD Committee of the Board of the company at its meeting held on August 6, 2024, has considered and approved the same.
Bharti Airtel (-1.51%) reported over 3-fold jump in its net profit at Rs4,717.50 crore for the quarter ended June 30, 2024 as compared to Rs1,520.20 crore for the same quarter in the previous year. Total income of the company increased by 2.86% at Rs38,869.90 crore for Q1FY25 as compared to Rs 37,788.30 crore for the corresponding quarter previous year.
Strides Pharma Science’s (+2.51%) IP holding entity and is into the business of sale and distribution of pharmaceutical and other over-the-counter consumer health care products, through its subsidiaries in US and India. SAIL UK is currently holding 19% stake in Consumer UK. As at March 31, 2024, carrying value of this investment in the books of SAIL UK is NIL. SAIL UK is acquiring the balance 81% stake from the existing Investor at GBP One.
Best Agrolife’s (-0.83%) wholly owned subsidiary -- Seedlings India granted a patent by the Indian Patent Office-Government of India for an invention entitled ‘Synergistic Fungicidal Composition’ for the term of 20 years commencing from August 9, 2021 in accordance with the provisions of the Patents Act, 1970.
Biocon (-1.73%) received an Establishment Inspection Report (EIR) with Voluntary Action Indicated (VAI) from the U.S. Food and Drug Administration (USFDA), for its API facility (Site 5), located at Visakhapatnam, Andhra Pradesh. This is based on a GMP inspection conducted by the agency between June 17 and June 21, 2024. Biocon remains committed to Quality, Safety & Efficacy of the products manufactured.
Muthoot Capital Services (+1.46%) entered into partnership with UK based Development Financial Institution for raising long term debt funds to promote its electric vehicle portfolio. Facilitated by Axis Bank, the collaboration entails a deal size of Rs100 crore, highlighting the significance and commitment of Muthoot Capital in providing sustainable mobility solutions and its efforts in driving widespread adoption of electric vehicles in India especially among the lower middle-income segment.
Earnings:
Solar Industries (-1.35%): Net Sales was Rs1,695 crore in Q1FY25 up 1% YoY (Rs1,682 crore). Net Profit was Rs301 crore in Q1FY25 up 45% YoY (Rs202 crore).
Raymond(+1.43%): Net Sales was Rs938 crore in Q1FY25 up 98% YoY (Rs473crore). Net Profit was Rs7,367 crore in Q1FY25 up 590% YoY (Rs1067 crore).
Symphony (+18.87%): Net Sales was Rs531 crore in Q1FY25 up 76% YoY (Rs302 crore). Net Profit was Rs88 crore in Q1FY25 up 244% YoY (Rs24 crore).
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
