By earn 
Market After Close
Market closes higher, SJVN secures an order worth Rs 13,947.5 crore from Government of Mizoram
Nifty 50 closed at 24,834.85 (428.8, 1.8%) , BSE Sensex closed at 81,332.72 (1,292.9, 1.6%) while the broader Nifty 500 closed at 23,292.05 (374.8, 1.6%). Market breadth is surging up. Of the 2,168 stocks traded today, 1,482 were on the uptrend, and 663 went down.
Markets closed higher after rising throughout the day. The Indian volatility index, Nifty VIX, fell 2.9% and closed at 12.2 points. SJVN secured a Rs 13,947.5 crore contract from the Government of Mizoram to build a 2,400 MW pumped storage project at Darzo Nallah.
Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, taking cues from the benchmark index. BSE Metal and S&P BSE Telecom were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecom Services emerged as the best-performing sector of the day, with a rise of 4.1%.
Asian indices closed in the green except Nikkei 225, CSE All-Share and KLCI. European indices are trading in the green except Portugal’s PSI and Spain’s IBEX 25 which are trading in the red. US index futures are trading in the green, indicating a positive start to the trading session. Brent crude oil futures are trading lower.
Relative strength index (RSI) indicates that stocks like Infosys, Tata Teleservices (Maharashtra), India Cements, and United Spirits are in the overbought zone.
BL Kashyap surges to hit an all-time high of Rs 111 as it secures an order worth Rs 160 crore from Suruchi Properties for civil, structural and allied works of residential building at Kodihalli, Bengaluru, to be completed in 20 months.
United Breweries’ Q1FY25 revenue rises 8.6% YoY to Rs 2,482.5 crore, driven by strong performance in the beer segment. Net profit increases 27.4% YoY to Rs 173.6 crore. It appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.
Hardware technology & equipment, software & services, food beverages & tobacco, and pharmaceuticals & biotechnology sectors rise more than 10% in the past month.
Foreign institutional investors invest Rs 5,114 crore in the equity market over the past week, according to Trendlyne’s FII dashboard. Index options witness the highest inflow of Rs 74,981.3 crore from foreign investors. Meanwhile, mutual funds are net sellers in the equity market, pulling out Rs 1,050.6 crore during the same period.
Brokerages predict InterGlobe Aviation’s net profit to drop by 28-49% YoY in Q1FY25, owing to higher operating costs and slower revenue growth. Elara Securities forecasts a 28.2% decrease in adjusted net profit to Rs 2,135 crore, attributing this to higher employee expenses and lease costsTata Power rises as its subsidiary, Tata Power Solar, partners with Bank of India to provide easy and affordable financing for the installation of rooftop solar and EV charging stations.
Sun Pharmaceutical hits an all-time high of Rs 1,712 as it gets US FDA approval for LEQSELVI (deuruxolitinib), an oral JAK inhibitor used for the treatment of severe autoimmune disease alopecia areata in adults.
Texmaco Rail & Engineering to acquire rail wagon manufacturer Jindal Rail Infrastructure for Rs 615 crore. This acquisition aims to establish leadership in specialized freight rolling stock, create new product opportunities, enhance the company’s presence in Western India, and boost exports.
SEBI has instructed the National Stock Exchange (NSE) to review the related party transactions between Linde India and Praxair India Pvt (PIPL). This action follows shareholder complaints claiming that these transactions, including the transfer of the hydrogen carbon oxidation business to PIPL, occurred without proper approval.
Pharma stocks like Divi’s Laboratories, Laurus Labs, Biocon, and Ipca Laboratories are rising in trade. The broader sectoral index, Nifty Pharma, hits all-time high of 21,519.8.
Mahanagar Gas rises as its Q1FY25 net profit of Rs 288.8 crore beats Forecaster estimates by 13%, despite falling by 21.6% YoY. Revenue declines 9.9% YoY to Rs 1,665.8 crore during the same period. The company appears in a screener of stocks near their 52-week highs.
SpiceJet rises as the Supreme Court rejects former promoter Kalanithi Maran’s plea challenging the Delhi High Court’s 2018 arbitral award of Rs 578 crore.
Jupiter Wagons’ Q1FY25 net profit surges by 46.2% YoY to Rs 91.9 crore, helped by inventory destocking. Revenue grows by 17.5% YoY to Rs 887.7 crore, driven by strong order wins. It appears in a screener of stocks with improving book value over the past two years.
Sobha falls sharply after 47.4 lakh shares (5% stake), amounting to Rs 865 crore, reportedly change hands in a block deal. Anamudi Real Estate is the likely seller in the transaction.
MphasiS surges to a new 52-week high of Rs 3,047.1 per share as its net profit grows by 2.9% QoQ to Rs 404.5 crore in Q1FY25, helped by a reduction in employee benefits and finance costs. Revenue rises marginally by 0.6% QoQ to Rs 3,496 crore, driven by an improvement in the banking & financial services, logistics & transportation, technology media & telecom, and insurance segments. It features in a screener of stocks outperforming their industries over the past quarter.
Morgan Stanley downgrades Cyient to “Underweight” with a reduced target price of Rs 1,550, as it misses Q1FY25 earnings estimates. The brokerage expresses caution over the revised revenue guidance due to high ask rates and weak historical performance. It projects an EPS CAGR of 1.6% for FY24-26.
Chalet Hotels to acquire 11-acre land parcel in Goa for Rs 137 crore from Shiva Goa Palace to develop a five-star luxury hotel.
Cyient plunges more than 7% as its net profit declines by 23.9% QoQ to Rs 143.9 crore in Q1FY25. Revenue falls by 9.9% QoQ to Rs 1,696.8 crore due to a decrease in the digital, engineering & technology (DET) and design led manufacturing (DEL) segments. It shows up in a screener of stocks underperforming their industries in the past quarter.
Sanstar’s shares debut on the bourses at a 14.7% premium to the issue price of Rs 95. The Rs 510.1 crore IPO received bids for 83 times the total shares on offer.
Hero MotoCorp Secures a favorable ruling from the Income Tax Appellate Tribunal (ITAT), which overturns an income tax demand of Rs 2,336.7 crore for AY12 related to Hero’s joint venture with Honda, terminated in 2010. The company also received separate tax demand notices totaling approximately Rs 605 crore, including interest, for Assessment Years (AY) 2013-14 through AY 2017-18 and FY19-20 from the income tax department.Sterling and Wilson Renewable Energy wins two orders worth Rs 328 crore. The orders include development of standalone BESS plant in Rajasthan and a 20 MW floating solar project in Karnataka.
Indus Towers rises as it considers a proposal for the buyback of fully paid-up equity shares. The board will meet on July 30 to discuss the proposal.
SJVN surges as it bags an order worth Rs 13,947.5 crore from the Government of Mizoram to set up a 2,400 MW pumped storage project across the Darzo Nallah.
Tech Mahindra falls sharply as its revenue in Q1FY25 Declines by 0.7% QoQ to Rs 13,150.2 crore due to a decrease in the IT segment. However, net profit Rises by 28.8% QoQ to Rs 851.5 crore, helped by a reduction in subcontracting expenses. The company appears in a screener of stocks with declining return on equity (RoE) over the past two years.
Nifty 50 was trading at 24,467.45 (61.4, 0.3%), BSE Sensex was trading at 80,158.50 (118.7, 0.2%) while the broader Nifty 500 was trading at 23,003.60 (86.4, 0.4%)
Of the 1,906 stocks traded today, 1,505 showed gains, and 371 showed losses.
Riding High:
Largecap and midcap gainers today include General Insurance Corporation of India (410.50, 10.3%), One97 Communications Ltd. (509.05, 10.0%) and Shriram Finance Ltd. (2,925, 9.2%).
STOCKS FALLEN
Largecap and Midcap losers today include Mankind Pharma Ltd. (2,055.90, -4.1%), Rail Vikas Nigam Ltd. (552.35, -4.1%) and United Breweries Ltd. (2,037, -3.4%).
Volume Shockers
25 stocks in BSE 500 are trading on high volumes today.
Top High volume gainers on BSE included The New India Assurance Company Ltd. (291.73, 12.9%), General Insurance Corporation of India (410.50, 10.3%) and Infibeam Avenues Ltd. (31.36, 9.3%).
Top High volume losers on BSE were BASF India Ltd. (5,793.15, -6.2%), Cyient Ltd. (1,789.90, -5.5%) and Route Mobile Ltd. (1,642.30, -5.0%).
Home First Finance Company India Ltd. (1,061.50, 3.1%) was trading at 9.7 times of weekly average. Adani Energy Solutions Ltd. (1,051.95, 0.2%) and Equitas Small Finance Bank Ltd. (86.96, -1.9%) were trading with volumes 7.9 and 7.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
54 stocks overperformed with 52 week highs,
Stocks touching their year highs included – Alembic Pharmaceuticals Ltd. (1,216.35, 1.3%), Apollo Tyres Ltd. (550.40, 2.5%) and Ashok Leyland Ltd. (246.38, 6%).
15 stocks climbed above their 200 Day SMA including Infibeam Avenues Ltd. (31.36, 9.3%) and Network18 Media & Investments Ltd. (91.59, 8.6%). 7 stocks slipped below their 200 SMA including Mankind Pharma Ltd. (2,055.90, -4.1%) and SBI Cards and Payment Services Ltd. (721.70, -1.2%).
