On Wednesday, 1498 stocks advanced, 2425 declined and 113 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.61, indicating negative closing of stocks in broader markets. The trend of the major indices on Wednesday’s trading is given in the table below.
On NSE, 66 securities advanced and closed at a new 52-week high whereas 49 securities sank to close at their new 52-week lows. In sectoral indices, Nifty IT and Nifty Auto among the biggest gainers. Nifty Metal, Nifty Media and Nifty Pharma among the biggest losers.
Epigral (-0.38%) received approval for raising of funds through issuance of instruments or security including equity shares or any other eligible securities by way of one or more public and/or private offerings including on a preferential allotment basis and/or a qualified institutions placement for an amount not exceeding Rs500 crore.
R Systems International (+1.40%) launched OptimaAI Suite, a Generative AI suite of services, tools, industry-specific models, and frameworks purpose-built to enhance enterprise adoption of AI for software development and digital transformation.
Century Textiles & Industries (-4.31%) wholly owned subsidiary -- Birla Estates incorporated a wholly owned subsidiary 'Unnatam Properties'. Consequent to the incorporation, Unnatam Properties has become a step-down wholly owned subsidiary of the company. Object to incorporate this company is to acquire land and/or develop real estate projects.
NIIT Learning Systems (+1.16%) (now be known as NIIT Managed Training Services (NIIT MTS)) entered into a strategic partnership with Century 21 Canada Limited Partnership, naming NIIT-MTS as their exclusive technology platform provider. This partnership introduces Xsel, NIIT-MTS's professional development platform exclusively designed for real estate agents.
PSP Projects (-2.34%) received work orders worth Rs653.67 crore (excluding taxes). Out of the total, the first order is for civil and structural work for the project ‘Himalaya’ at Sanand, Gujarat for International Refreshments (India) worth Rs 484.02 crore (excl. GST) in Industrial Category. The Project is to be completed within a period of 14 months.
Larsen & Toubro’s (L&T) (-0.19%) wholly owned step-down subsidiary -- Larsen & Toubro International FZE (LTIFZE) has entered into a Share Purchase Agreement with The Wave Development SPC (Wave) on August 14, 2024, for purchase of additional 15% stake in Larsen & Toubro (Oman) LLC (L&T Oman), an existing Joint Venture between LTIFZE and Wave.
Piramal Enterprises (-10.45%) reported 64.33% fall in its net profit at Rs181.48 crore for the quarter ended June 30, 2024 as compared to Rs508.78 crore for the same quarter in the previous year. Total income of the company decreased by 25.99% at Rs2145.38 crore for Q1FY25 as compared to Rs2898.79 crore for the corresponding quarter previous year.
NBCC’s (India) (+0.18%) wholly owned subsidiary -- HSCC (India) has received work order worth around Rs528.21 crore from Directorate of Medical Education & Research, Haryana. The work order is for procurement of biomedical equipment and hospital furniture for Pt. Deen Dayal Upadhayaya University of Health Sciences, Kutail, Karnal.
Tata Motors’ (+0.84%) wholly owned subsidiary -- Jaguar Land Rover (India) (JLR) has begun the deliveries of the locally-manufactured Range Rover Sport. With this, the complete Range Rover portfolio is now made-in-India and the local manufacturing footprint expands to six vehicles in the portfolio. Available in both petrol and diesel engines, the new Range Rover Sport is priced at Rs1.40 crore.
Apollo Hospitals Enterprise (-1.12%) reported 81.95% rise in its net profit at Rs315.50 crore for the quarter ended June 30, 2024 as compared to Rs173.40 crore for the same quarter in the previous year. Total income of the company increased by 15.22% at Rs5,122.80 crore for Q1FY25 as compared to Rs4,446.00 crore for the corresponding quarter previous year.
Sudarshan Chemical Industries (-0.23%) wholly owned subsidiary -- Sudarshan Europe B.V. incorporated a wholly owned subsidiary in Brazil, named 'SUDARSHAN BRASIL LTDA'. Consequent to the incorporation, Sudarshan Brasil LTDA has become a Step-Down Subsidiary of the Company. The newly incorporated Company would primarily be engaged in trading of color pigments.
Earnings:
Prakash Pipes (+12.40%): Net Sales was Rs205 crore in Q1FY25 up 17% YoY (Rs176 crore). Net Profit was Rs25.4 crore in Q1FY25 up 38% YoY (Rs18.5 crore)
Kirloskar Industries (+7.98%): Net Sales was Rs1,559 crore in Q1FY25 up 3% YoY (Rs1,508 crore). Net Profit was Rs66.2 crore in Q1FY25 down 30% YoY (Rs94 crore).
Marksans Pharma (+13.98%): Net Sales was Rs591 crore in Q1FY25 up 18% YoY (Rs500 crore). Net Profit was Rs89.1 crore in Q1FY25 up 29% YoY (Rs70.4 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:
