Get App
POST-MARKET REPORT
The Indian benchmark indices snapped a three-day losing streak on August 7 and ended higher with Nifty closing near the key 24,300 level, led by buying across the sectors and ahead of RBI policy outcome tomorrow.
At close, the Sensex was up 874.94 points or 1.11 percent at 79,468.01, and the Nifty was up 305 points or 1.27 percent at 24,297.50.
The biggest Nifty gainers included Coal India, Adani Ports, Power Grid Corp, Cipla, and Wipro, while losers were IndusInd Bank, Eicher Motors, Britannia, Tech Mahindra and Titan Company.
All the sectoral indices ended in the green with metal, healthcare, media, power, telecom, oil & gas, and capital goods up 2-3 percent.
BSE Midcap index and Smallcap indices closed 2 percent higher each.
STOCKS TODAY
Lupin: Shares surged over 4 percent after the company reported strong all-round performance in the April-June quarter. The drugmaker posted an over 77 percent spike in its net profit to Rs 801.3 crore for Q1 FY25. Revenue also grew over 16 percent to Rs 5,514.30 crore in Q1 of FY25, up from Rs 4,895.10 crore in the base period. The topline growth was driven by strong double-digit sales growth in the India formulations and the US business.
Gland Pharma: Shares dived 4 percent after the company reported dismal earnings for the fiscal first quarter. The drugmaker’s net profit slipped 26 percent to Rs 143.8 crore in the April-June quarter, largely due to lower milestone income. Along with that, Motilal Oswal Financial Services also believes the postponement of the off-take of products by European customers hit the company’s Q1 FY25 performance to some extent. Revenue rose 16 percent to Rs 1,401.7 crore against Rs 1,208.7 crore in the year-ago period.
Oil and Natural Gas Corporation: Shares surged over 7 percent after the company raised its production guidance for FY25. ONGC’s management projects a 12 percent increase in total crude oil production, reaching 23.1 million metric tonnes, and a 27 percent rise in gas production, reaching 25.9 million metric tonnes by FY27. The company announced it will begin gas production from the KG-98/2 asset in the fourth quarter of FY25.
TVS Motors: The stock hit an all-time high at Rs 2,620.2 on August 7 after the company reported a healthy performance for the June 2024 quarter (Q1FY25). The company posted a 14.1 percent year-on-year (YoY) growth in total sales volume, at 1.09 lakh crore units.
EIH: The stock of this luxury hospitality company fell over 10 percent after the company reported a weak set of numbers in the June quarter. The company’s profit dropped 11.2 percent YoY to Rs 92.2 crore in Q1FY25 from Rs 103.8 crore in the year-ago period.
PB Fintech: The stock price surged over 16 percent, hitting its all-time high at Rs 1664.35 on August 7 after the company reported a 52 percent increase in revenues in Q1FY25. PB Fintech, the parent company of online marketplaces Policybazaar and Paisabazaar, announced a third consecutive profitable quarter for the April-June period.