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POST-MARKET REPORT
Benchmark indices closed flat as profit booking continued for the fifth straight session on July 25, with Nifty managing to close around 24,400 amid F&O expiry day volatility.
At close, the Sensex was down 109.08 points or 0.14 percent at 80,039.80, and the Nifty was down 7.40 points or 0.03 percent at 24,406.10.
The Nifty index recovered 195 points from the day’s low, while the BSE Sensex saw a recovery of 560 points from the day’s low.
Top Nifty gainers included Tata Motors, ONGC, SBI Life Insurance, BPCL, and Sun Pharma, while Axis Bank, Nestle India, Titan Company, ICICI Bank, and Tata Steel were the losers.
On the sectoral front, auto, capital goods, power, oil & gas, healthcare, and media rose 0.5-3 percent, while bank, IT, metal, realty, and telecom shed 0.5-1 percent.
The BSE midcap and smallcap indices ended marginally lower.
STOCKS TODAY
Suzlon Energy: The stock gained over 2 percent, extending gains for a fourth straight session to hit a multi-year high on July 25. The counter has been seeing a sharp rally since it reported stellar earnings earlier this week for the quarter ended June 2024.
KPIT Technologies: The stock fell 3.5 percent as brokerages remained divided after its quarterly earnings. Some analysts are positive on the stock and suggest the stock may reach the Rs 2,100 level on the back of a healthy order book, while others suggest that the counter may fall up to 40 percent on the back of rich valuations.
RBL Bank: Shares fell 3 percent after a 7.95 percent stake was sold through a block deal. The transaction, worth Rs 1,100 crore, likely saw private equity firm EQT (formerly Baring PE Asia) exit the lender. Around 4.8 crore shares of RBL Bank changed hands at an average price of Rs 229.50, implying a 3.5 percent discount to the previous closing price of the stock.
RVNL: Shares fell 3 percent amid profit booking despite the company receiving a Letter of Acceptance (LoA) for a project worth Rs 191.53 crore from South Eastern Railway. It is worth noting that RVNL was among the multibagger railway stocks that experienced a sharp decline following Union Budget 2024 as there was limited focus on the sector.
Tata Motors: Shares surged 6 percent after international brokerage Nomura upgraded the stock with a ‘buy’ recommendation, as it sees multiple levers of growth. In the past month, the shares of the company have rallied 13 percent. It said that potential significant upsides from Jaguar Land Rover’s (JLR) execution and the demerger of commercial vehicles (CVs) from the passenger vehicle (PV) are value-unlocking catalysts.
Nestle India: Shares slipped 2.5 percent after the company announced its Q1FY25 results. The FMCG major’s profit rose 6.92 percent on-year to Rs 746.6 crore in Q1 as compared to Rs 698.3 crore in the same quarter a year ago. Its revenue grew 3.3 percent to Rs 4,813.9 crore in the June quarter of FY25.