A second day of stable global markets allowed Indian markets to end higher. On Wednesday, 2986 stocks advanced, 947 declined and 98 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 3.15, indicating positive closing of stocks in broader markets. The trend of the major indices on Wednesday’s trading is given in the table below.
On NSE, 76 securities advanced and closed at a new 52-week high whereas 37 securities sank to close at their new 52-week lows. In sectoral indices, all sectors ended in green, Nifty Metal, Nifty Media and Nifty Energy among the biggest gainers.
Uno Minda (+2.26%) received approval to incorporate a new wholly owned step-down subsidiary in Czech Republic, Europe, as a Subsidiary of CREAT GmbH, which is a wholly owned step-down subsidiary of the company situated at Europe.
Rashtriya Chemicals and Fertilizers (RCF) (+4.81%) raised Rs300 crore through the allotment of 30,000 7.99% Listed, Unsecured, Redeemable, Non-Cumulative, Taxable, Non-Convertible Bonds in the nature of Debentures (NCDs) of face value of Rs1,00,000 each, on private placement basis. The Debenture Allotment Committee of the Company in its meeting held on August 7,2024, approved and allotted of the same
Alembic Pharmaceuticals (+2.84%) received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Acitretin Capsules USP, 10 mg, 17.5 mg, and 25 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Soriatane Capsules, 10 mg, 17.5 mg, and 25 mg, of Stiefel Laboratories, Inc. (Stiefel). Acitretin capsules are indicated for the treatment of severe psoriasis in adults.
Rajratan Global Wire (+0.56%) commenced commercial production at its newly established greenfield manufacturing facility in Sriperumbudur, Kancheepuram, Chennai. This unit has been set up for the production of tyre bead wire with a capacity of up to 60,000 MT per annum.
Welspun Corp’s (+2.96%) associate company -- East Pipes Integrated Company for Industry (EPIC) has signed multi contracts with EPC contractors with value of around Rs525 crore for manufacturing, supply of steel pipes and coating. The duration of the contract is 24 months. The financial impact of the contract will be reflected in Q4 of financial year 2024/2025 till Q3 of financial year 2026/2027.
Cummins India (+6.43%) reported 30.78% rise in its net profit at Rs462.61 crore for the quarter ended June 30, 2024 as compared to Rs353.72 crore for the same quarter in the previous year. Total income of the company increased by 4.86% at Rs2,419.29 crore for Q1FY25 as compared to Rs 2,307.23 crore for the corresponding quarter previous year.
Aurobindo Pharma (+4.53%) received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Estradiol Vaginal Inserts USP, 10 mcg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), VAGIFEM 10 mcg of Novo Nordisk Inc. The product will be launched in Q2FY25.
Suzlon (+4.99%) Group executed definitive agreements for the acquisition of a 76% stake in Renom Energy Services (Renom), in two tranches, from the Sanjay Ghodawat Group. Renom is the largest multibrand operations and maintenance service provider for renewable energy in the country with assets of 1,782 MW in Wind, 148 MW in solar, and 572 MW under maintenance.
Tata Power Company (-1.47%) planned acquisition of 40% equity stake in Khorlochhu Hydro Power (KHPL) in one or more tranches.
PI Industries (+3.69%) reported 17.21% rise in its net profit at Rs448.80 crore for the quarter ended June 30, 2024 as compared to Rs382.90 crore for the same quarter in the previous year. Total income of the company increased by 9.42% at Rs2,141.60 crore for Q1FY25 as compared to Rs1,957.30 crore for the corresponding quarter previous year.
Bata India (-3.24%) reported 62.84% rise in its net profit at Rs174.06 crore for the quarter ended June 30, 2024 as compared to Rs106.89 crore for the same quarter in the previous year. However, total income of the company decreased by 1.09% at Rs960.87 crore for Q1FY25 as compared to Rs971.42 crore for the corresponding quarter previous year.
Earnings:
Oriental Aromatics (+13.84%): Net Sales was Rs216 crore in Q1FY25 up 10% YoY (Rs196 crore). Net Profit was Rs11 crore in Q1FY25 up 217% YoY (Rs-6.05 crore)
Sanghvi Movers: Net Sales was Rs151 crore in Q1FY25 up 3% YoY (Rs146 crore). Net Profit was Rs41 crore in Q1FY25 down 3% YoY (Rs42 crore).
Talbros Automotives (+1.19%): Net Sales was Rs204 crore in Q1FY25 up 12% YoY (Rs183 crore). Net Profit was Rs21 crore in Q1FY25 up 18% YoY (Rs17 crore).
Caplin Point Laboratories (+2.54%): Net Sales was Rs459 crore in Q1FY25 up 16% YoY (Rs395 crore). Net Profit was Rs125 crore in Q1FY25 up 20% YoY (Rs104 crore).
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
