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POST-MARKET REPORT
The Benchmark indices Nifty 50 and the 30-stock Sensex snapped a five-day losing streak to end the week on a strong note. Positive cues from Asian markets combined with a sharp upmove in pharma stocks and other heavyweights helped the two indices record stellar gains.
At close, the Sensex was up 1,292.92 points or 1.62 percent at 81,332.72, and the Nifty was up 428.75 points or 1.76 percent at 24,834.85. Gainers outnumbered laggards as around two stocks rose for each one that fell. About 2,346 shares rose, 1,101 fell while 65 were unchanged.
Top Nifty gainers were Shriram Finance, Cipla, Dr Reddy’s Laboratories, Infosys, Bharti Airtel, and Apollo Hospitals, while ONGC and Tata Consumer Products were the only major losers.
On the sectoral front, all sectors glimmered in the green, with information technology, automobiles, infra, metals, and pharma recording the sharpest gains of 2-3 percent.
Other sectors including banks – private and PSUs, FMCG, realty, and energy also surged 1-1.5 percent. Further, in broader market indices, the BSE Smallcap index rose 1 percent while the S&P BSE Midcap jumped 2 percent.
STOCKS TODAY
IndiGo: InterGlobe Aviation, the operator of low-cost airline IndiGo, on July 26 posted a profit of Rs 2,736 crore for the quarter ended June 2024, down 11.5 percent as compared to a net profit of Rs 3,090.6 crore in the same period a year ago. Revenue from operations for IndiGo, the largest airline in the country, rose 17.3 percent to Rs 20,249 crore, from the year-ago period when the airline had reported a topline of Rs 16,683.1 crore.
Bandhan Bank: Bandhan Bank on July 26 reported a net profit of Rs 1,063 crore for the quarter ended June 30, 2024, a 47 percent jump on a year-on-year basis from Rs 721 crore last year. Total deposits of the bank grew 23 percent YoY and stood at Rs 1.33 lakh crore as of June 2024. and total advances grew 22 percent YoY in the quarter ending June 2024 and stood at Rs 1.26 lakh crore.
IndusInd Bank: India’s fifth largest private lender – IndusInd Bank – has clocked a 2.2 percent on-year growth in net profit at Rs 2,171 crore, with Net Interest Income (NII) coming in at Rs 5,408 crore, higher by 11.1 percent on year.
Sterling & Wilson: Shares of Sterling and Wilson Renewable Energy hit a 5 percent upper circuit on July 26 after the company bagged an order to set up a 500×2 (1,000 MWhr) – standalone battery energy storage system plant in Rajasthan. The order entails engineering, design, procurement, erection, testing, and commissioning of 500 x 2 (1,000 MWhr) – standalone BESS plant in Rajasthan, a company statement said.
Cyient: Shares of Cyient fell over 9 percent on July 26 as investors were left disappointed with the company’s first quarter (Q1FY25) earnings for fiscal 2024-2025. The IT firm reported revenue and margin, which were far lower than analyst estimates.
Mphasis: Mphasis stock surged over 8 percent to a 52-week high of Rs 3,077.95 on July 26, as investors cheered the management’s upbeat commentary following its April-June quarter results. The information services company’s net profit grew 3 percent on quarter to Rs 404 in Q1 of FY25 while revenue was flattish at Rs 3,422 crore.