Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 gained just 4.75 points or 0.02% to settle at 24,143.75, while the BSE Sensex jumped 149.86 points or 0.19% to 79,105.89. The broader indices ended in mixed territory, with gain led by Large-cap stocks. Bank Nifty index ended lower by 104.55 points or 0.21% to settle at 49,727.30. IT and Auto stocks outperformed among the other sectoral indices while Metal and Media stocks shed.
Benchmark domestic indices BSE Sensex and NSE Nifty 50 ended in positive territory on Wednesday.
In early trading today, Nifty sectoral indices showed a mixed performance. The Nifty IT index rose by 1.07%, trading at 39,532.70. In contrast, the Nifty FMCG index declined by 0.41% to 61,244.75, while the Nifty Private Bank index fell 0.38% to 24,850.85. The Nifty Bank index also slipped 0.19%, trading at 49,736.70 as of 10:28 AM.
Apollo Tyres reported disappointing June quarter results, missing street estimates due to commodity headwinds and a loss of market share in the truck segment. The weak performance led to a nearly 7% drop in the company’s stock price following its results announcement on August 8. The stock has now corrected by 15% from its all-time high of Rs 568 per share, reached on July 30.
Coffee Day Enterprises‘ stock surged 3.01% to Rs 35.90 on the BSE. This increase comes after the company settled a case with the markets regulator SEBI on Tuesday. The settlement involved a payment of Rs 7.52 lakh to resolve issues related to violations of disclosure norms.
Shares of Hero MotoCorp fell 4.5% to an intraday low of Rs 4,991 from its previous close of Rs 5,245.50. The company’s net profit in Q1 FY25 increased to Rs 1,123 crore, up 36% on year, against Rs 825 crore posted in Q1 FY24. The company’s revenue from operations for the quarter stood at Rs 10,144 crore, up 16% from Rs 8,767 crore in the corresponding quarter of the last fiscal year.
TCS, Infosys, ITC, M&M, and SBi were the major contributors to pulling the index higher, meanwhile, ICICI Bank, Reliance Industries, Hero MotoCorp, UltraTech Cements, and Axis Bank were pushing the index lower.
Courtesy: NSE
Shares of Ola Electric Mobility Ltd. are trading with losses of over 5% on Wednesday, marking the fourth consecutive day of declines since the company’s stock market debut. The stock remains in focus as investors await the company’s June quarter results, scheduled to be reported later today, August 14.
Shares of MTAR Technologies a key manufacturer of precision-engineered systems for the clean energy and defense sectors, fell by as much as 5.5% on Wednesday. This decline came despite the company’s management expressing an optimistic outlook for the future, following June quarter results that showed declines across all parameters on a year-on-year basis.
Shares of graphite electrode manufacturer HEG are expected to be in focus on Wednesday after the company released its June quarter results post-market hours on Tuesday. In addition to the earnings report, HEG announced a stock split, with its equity shares of Rs 10 face value being divided into five shares, each with a face value of Rs 2.
Goldman Sachs has maintained its “Sell” rating on Hero MotoCorp with a target price of ₹4,250, following the company’s Q1 performance. According to the Goldman Sachs report, both revenue and EBITDA missed Bloomberg consensus estimates by 3% and 5%, respectively.
The report also noted that the average selling price (ASP) for Q1 was down 3% quarter-over-quarter, potentially indicating some level of discounting due to channel inventory buildup. Additionally, Goldman Sachs highlighted concerns about potential risks to Hero MotoCorp’s volume trajectory.
Shares of state-run SJVN surged over 7% in early trading on Wednesday following the company’s June quarter results released after market hours on Tuesday. The company reported a 29% increase in revenue, reaching ₹870.4 crore, while Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) grew by 33% year-over-year to ₹667.5 crore.
Hindalco Industries, Infosys, Tata Motors, L&T, and ITC are the top gainers on NSE Nifty 50 index whereas the top laggards include Hero MotoCorp, ICICI Bank, Ultratech Cement, HDFC Life Insurance, ad Adani Enterprises.
The NSE Nifty 50 opens up by 45.40 points or 0.19% at 24,184.40, while the BSE Sensex gains 109.19 points or 0.14% to 79,065.22 in the opening trade.
Commenting on the pre market outlook Prashanth Tapse, Senior VP (Research), Mehta Equities said that Technically, Nifty‘s strength hinges on breaching the 24,359 mark. Today’s spotlight is on Q1 results from companies like Bodal Chem, Coffee Day, Eid Parry, Glenmark, HAL, and RPower. Preferred trades suggest buying Nifty between 23,900-24,000 with stops at 22,601 and targets at 24,300/24,630, aiming for aggressive targets at 24,850-25,100.
Tapse also added that Bank Nifty offers buying opportunities between 49,300-49,500, stops at 48,731, and targets at 50,350/50,750, with aggressive targets at 51,500-51,967. Bajaj Auto and TVS Motors are highlighted for bullish trading opportunities, particularly on any early weakness, emphasizing an interweek perspective. Notably, TVS Motors stands out as a strong buy with targets set between 2,681-2,725 and aggressive targets at 2,801, supported by a breakout indicating significant upside potential.
The company reported an 83.2% increase in net profit for the first quarter, reaching Rs 305.2 crore, compared to Rs 166.6 crore in the same period last year. Revenue grew by 15.1% to Rs 5,085.6 crore, up from Rs 4,417.8 crore year-over-year. EBITDA saw a strong rise of 32.6%, climbing to Rs 675.1 crore from Rs 509 crore previously, with the EBITDA margin improving to 13.3% from 11.5% year-over-year.
JPMorgan has maintained its “Underweight” rating on Nykaa with a target price of Rs 138, citing several key factors. The report notes that higher marketing expenses in the beauty segment are weighing on margins. In the fashion segment, while revenue growth remains weak, there has been some margin expansion.
Additionally, the report highlights Nykaa’s increased stake in Dot & Key and Earth Rhythm as part of its strategic investments.
In its first-quarter earnings report, the company announced a significant 151% increase in net profit, which soared to Rs 13.6 crore from Rs 5.4 crore in the same period last year.
Revenue for the quarter saw a robust growth of 22.8%, reaching Rs 1,746.1 crore, compared to Rs 1,421.8 crore year-over-year. The company also reported a strong performance in EBITDA, which rose by 30.7% to Rs 96.1 crore, up from Rs 73.5 crore in the corresponding quarter of the previous year.
Additionally, the EBITDA margin saw a slight improvement, increasing to 5.5% from 5.2% year-over-year, reflecting the company’s efforts to enhance operational efficiency.
Aarti Industries, Chambal Fertilisers and Chemicals, Aditya Birla Capital, Aditya Birla Fashion and Retail, Bandhan Bank, Biocon, Birlasoft, Granules India, India Cements, IndiaMART InterMESH, LIC Housing Finance, Manappuram Finance, Punjab National Bank, RBL Bank, SAIL, Sun TV Network
Ola Electric Mobility, Glenmark Pharmaceuticals, Astron Paper & Board Mill, Bajaj Healthcare, GMR Power and Urban Infra, Hindustan Aeronautics, Jaiprakash Associates, KNR Constructions, Lux Industries, Mazagon Dock Shipbuilders, National Fertilizers, Apeejay Surrendra Park Hotels, Sanstar, Shriram Properties, SpiceJet, Stanley Lifestyles, Sunteck Realty, and Vascon Engineers.
WTI crude prices were trading at $78.86 up by 0.65%, while Brent crude prices were trading at $81.15 up by 0.58%, on Wednesday morning.
The country’s leading paint manufacturers, Asian Paints and Berger Paints, have announced ambitious capital expenditure (capex) plans in response to the growing presence of new entrant Birla Opus. Asian Paints is set to invest Rs 2,200 crore annually over the next four years, totalling Rs 8,800 crore, in greenfield and brownfield projects, the company’s top officials said.
Happiest Minds Technologies, a digital transformation and IT solutions company, reported robust revenue growth in the quarter ended June. The company’s consolidated revenue in constant currency increased by 11.4% quarter-on-quarter (QoQ) and 17.8% year-on-year (YoY) to Rs 463.83 crore. The company’s net profit declined by 29.1% QoQ to Rs 51.03 crore, which was 10.4% of total income. This decline was largely due to non-recurring expenses and increased amortisation and financing costs related to recent acquisitions.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading up 0.01% at 102.63 on Wednesday morning.
Vodafone Idea CEO Akshaya Moondra said on Tuesday that the company has seen its subscribers porting out to state-owned BSNL following the recent tariff hikes. The same is because BSNL has not increased the tariffs as was done by the private telecom operators in July. Therefore, the port-out of Vodafone Idea users to BSNL has increased from the pre-tariff hike levels.
US markets closed on a higher note on Tuesday as investors on the back of the wholesale price index, which rose 0.1% last month against the expectations of an increase of 0.2% on month. The broader market index, the S&P 500, closed 1.68% higher at 5,434.43. Similarly, the tech-heavy Nasdaq Composite advanced 2.43% to settle at 17,187.61. The Dow Jones Industrial Average added 408 points, or 1.04%, to end at 39,765.64.
Vedanta said that its board of directors has given approval for selling up to 11 crore shares or 2.6% equity in Hindustan Zinc, through an offer for sale (OFS). On Tuesday, Hindustan Zinc closed at Rs 586.35 per share on the BSE which would bring Vedanta’s stake sale to around Rs 6,449 crore.