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POST-MARKET REPORT
Indian benchmark indices witnessed profit booking for the fourth consecutive session on July 24 with Nifty below 24,450 mostly led by banking names.
At close, the Sensex was down 280.16 points or 0.35 percent at 80,148.88, and the Nifty was down 65.50 points or 0.27 percent at 24,413.50.
Top Nifty losers were Bajaj Finserv, Britannia Industries, Bajaj Finance, Tata Consumer, and Axis Bank, while gainers included HDFC Life, Tech Mahindra, BPCL, NTPC, and Tata Motors.
On the sectoral front, healthcare, oil & gas, media, telecom, and power are up 1-2 percent, while FMCG and bank index are down 0.5-1 percent.
BSE Midcap index was up 0.7 percent and smallcap index rose 2 percent.
STOCKS TODAY
United Spirits: United Spirits shares soared to hit a record high of Rs 1,417.30 on July 24, a day after the liquor company reported positive earnings for the April-June period. The company’s net profit grew around 2 percent on year to Rs 485 crore in Q1 on FY25, up from Rs 477 crore. Revenue also rose 3.5 percent to Rs 2,761 crore against Rs 2,667 crore in the corresponding quarter of the preceding fiscal.
Torrent Pharma: Torrent Pharma’s strong performance across all key parameters in the April-June quarter has garnered praise from brokerages. The company delivered a 20 percent on-year spike in net profit for Q1 of FY25 at Rs 457 crore while revenue rose over 10 percent to Rs 2,859 crore.
Titagarh Rail Systems: Shares gained on July 24 after the firm said it had started the export of traction converters. The first batch of 8 converters was shipped to Titagarh Firema SpA (Titagarh Firema), Italy earlier this month on the 19th. This export is part of a 7.18 million euros (Rs 65 crore) order received by Titagarh Rail from Titagarh Firema.
Bajaj Finserv: Bajaj Finserv Ltd on July 24 reported a 10 percent rise in its net profit to Rs 2,138 crore in the first quarter of the current financial year. The company’s total consolidated income rose 35 percent on-year to Rs 31,480 crore. The company has resumed sanction and disbursal of loans under ‘eCOM’ and ‘lnsta EMI Card’ and issuance of EMI cards after the RBI removed the restrictions on these businesses on 2 May 2024, it said.
SBI Life Insurance: The company on July 24 reported a net profit of Rs 519 crore for the June quarter, up 36 percent from the year-ago period. The solvency ratio dipped to 2.01 percent versus 2.15 percent last year. Shares of the insurer closed for trading on July 24 at Rs 1,630.95, up 2.10 percent.
Realty stocks: Shares of realty companies staged a sharp rebound on July 24, surging up to 8 percent intraday, just a day after these counters registered a decline following finance minister Nirmala Sitharaman’s proposal to remove the indexation benefit on calculating long-term capital gains tax (LTCG) on real estate. Shares of Macrotech Developers were up 1.1 percent, Sobha up 3.1 percent, Prestige Estates up 5.4 percent, Ajmera Realty up 2.8 percent, DLF up 2 percent and Oberoi Realty up 3.4 percent.