The domestic equity market traded under pressure by midday on August 4 as weakness across heavyweight sectors kept benchmark indices in the red. The Nifty 50 was hovering around the 24,497 level, while the Sensex hovered near 78,390. Despite the broader weakness, earnings announcements, fresh order wins and company-specific developments continued to drive individual shares, with Restaurant Brands Asia, KEI Industries and Ather Energy attracting buying interest.
Here are the top movers and shakers at this hour:
Restaurant Brands Asia
Burger King India operator, Restaurant Brands Asia saw a 20% surge in its share price by midday after a sharp improvement in the June- quarter performance. The net loss narrowed 32% year-on-year to Rs 28.34 crore from Rs 41.93 crore, while revenue increased 18% to Rs 823 crore. Operational EBITDA rose 37% to Rs 100 crore and EBITDA margin expanded to 12.17% from 10.42% a year earlier despite a 14% increase in total expenses. The company also expanded its Burger King India network to 590 stores, adding 71 outlets over the past year.
KEI Industries
The KEI Industries share price climbed around 7% by midday after the wires and cables manufacturer reported a strong June-quarter performance driven by margin expansion and healthy domestic demand. Consolidated net profit increased 40.05% year-on-year to Rs 274.14 crore, while revenue from operations rose 22.97% to Rs 3,185.34 crore. EBITDA advanced nearly 40% to Rs 415 crore and EBITDA margin improved to 13.04% from 11.49% a year earlier. Domestic wires and cables revenue grew 29.31%.
Ather Energy
Ather Energy share price rallied around 14.8% by midday after the electric two-wheeler maker’s June-quarter results strengthened confidence around its improving profitability. The company benefited from strong revenue growth, better margins and a sharp reduction in losses, while analysts said the margin performance exceeded expectations despite commodity cost pressures. Brokerage firms including CLSA, HSBC and Nomura pointed to recent price hikes, cost optimisation measures, the upcoming Factory 3.0 expansion and the festive-season launch of the EL platform as factors that could support volume growth and margin improvement in the coming quarters.
Dabur India
The share price of Dabur India declined around 2.5% by midday after the Food Safety and Standards Authority of India barred the company from selling products with misleading ‘100%’ claims. FSSAI stated that such labels violate the Food Safety and Standards (Advertising & Claims) Regulations, 2018. The regulator said products including honey, cow ghee, edible oils, coconut water and apple cider vinegar carried claims that were ambiguous and unverifiable. Dabur acknowledged receiving the notice and said it is examining the contents, while FSSAI directed the company to stop sales of the identified products and submit an action taken report within 15 days.
ITC
ITC share price gained around 3.8% by midday after global brokerage firms turned positive on the company’s June-quarter performance despite a decline in profit. Nomura said the worst appears to be behind the company as cigarette volume decline was lower than expected, while Jefferies noted that gradual price hikes and resilient volumes could support earnings ahead. ITC reported a 27% year-on-year decline in standalone net profit to Rs 3,579 crore, while revenue from operations rose 28% to Rs 26,943 crore. The company also said the quarter was affected by volatility in crude-linked input costs and supply chain disruptions arising from the West Asia conflict.
TVS Motor
The share price of TVS Motor Company Ltd. traded around 1% higher by midday after the company reported a 38% year-on-year increase in total sales for July. Overall two-wheeler sales rose 38%, domestic two-wheeler sales climbed 42%, while electric vehicle sales surged 158%, helping the company retain its leadership position in the electric two-wheeler segment. International business sales also increased 29%. The monthly sales update followed a strong June-quarter performance in which revenue advanced 33% and net profit jumped 67% year-on-year.