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POST-MARKET REPORT
In the highly volatile market, the Indian benchmark indices ended marginally lower with the Nifty below 24,350. At close, the Sensex was down 56.99 points or 0.07 percent at 79,648.92, and the Nifty was down 20.50 points or 0.08 percent at 24,347.
Hero MotoCorp, Axis Bank, ONGC, Infosys, and JSW Steel were among the major gainers on the Nifty, while losers included NTPC, Britannia Industries, Adani Ports, SBI, and Dr Reddy’s Labs.
Among sectors, FMCG, power, PSU Bank, and media were down 0.5-2 percent, while bank, telecom, IT, oil & gas, metal and realty were up 0.3-1 percent.
The BSE midcap index ended flat, while the smallcap index was up 0.5 percent.
STOCKS TODAY
Voltas: A strong set of earnings for the April-June quarter, combined with an equally impressive operational performance, helped shares of Voltas climb nearly 11 percent. The Tata Group company recorded a net profit of Rs 334.20 crore, reflecting a nearly three-fold jump from Rs 129.30 crore clocked in the same quarter last fiscal. Revenue also grew 46.50 percent YoY to Rs 4,921 crore, up from Rs 3,359.90 crore in the base period.
Shipping Corporation of India: Shares zoomed nearly 7 percent as investors cheered the company’s stellar first-quarter earnings. The state-run company reported a 70 percent year-on-year jump in net profit at Rs 291.5 crore and a 26 percent jump in revenue from operations to Rs 1,514.3 crore in Q1FY25.
Bharat Dynamics: Shares slumped over 6 percent after the company’s fiscal first-quarter net profit fell 83% year-on-year to Rs 7.2 crore. Its net sales declined 36.5% YoY to Rs 188 crore, impacted by supply chain issues due to the ongoing Russia-Ukraine war and conflicts in the Middle East region.
Allied Blenders and Distillers: Shares jumped 8 percent after an Economic Times report stated that the company is in advanced talks with two global spirits giants – Russian Standard and Thai Beverage to market and distribute their products in India.
Ola Electric: Shares of the newly listed company were locked in 20 percent upper circuit, extending gains for a second consecutive session. This follows another 20 percent rally that triggered the upper circuit on its market debut on August 9. The Bhavish Aggarwal-led company will announce its Q1 results on August 14.
Railway stocks: Shares of railway PSUs surged as the Cabinet Committee on Economic Affairs approved eight projects of the Ministry of Railways with a total estimated cost of Rs 24,657 crore. The projects, covering 14 districts, will be implemented in Odisha, Maharashtra, Andhra Pradesh, Jharkhand, Bihar, Telangana, and West Bengal with the construction of 64 new stations.