On Thursday, 1424 stocks advanced, 2500 declined and 92 remained unchanged, with an advance decline ratio 0.56 on the Bombay Stock Exchange (BSE). The trend of the major indices on Thursday’s trading is given in the table below.
On NSE, 145 securities advanced and closed at a new 52-week high whereas 19 securities sank to close at their new 52-week lows. In sectoral indices, Nifty IT, Nifty FMCG and Nifty Auto were among the biggest gainer. Nifty Media and Nifty Metal were among the biggest losers.
LTIMindtree (+3.50%) extended multi-million dollar contract with Absa Bank, a leading African financial services group. This reinforces the company’s position as Absa Bank’s trusted strategic technology partner. The extended partnership builds upon a successful 17-year collaboration, where LTIMindtree has been instrumental in driving Absa Bank's digital transformation journey, fostering growth and efficiency.
VL E-Governance & IT Solutions (+5.00%) entered into a binding term sheet with Edgewood Ventures LLC, USA on July 18, 2024 for acquisition of 26% equity stake in HAL-Edgewood Technologies (HETL).
Indian Oil Corporation (IOC) (-0.66%) raised Rs2500 crore on private placement basis and issued 2,50,000, 7.36% Unsecured, Listed, Rated, Taxable, Redeemable, Nonconvertible Debentures (Series - XXVI) of Rs 1lakh each.
Wipro’s (+2.41%) wholly-owned subsidiary -- Wipro Holdings (UK) has transferred its entire shareholding in Wipro Financial Outsourcing Services (step-down subsidiary) to Wipro IT Services UK Societas (wholly-owned subsidiary).
Tata Power company’s (-1.59%) subsidiary -- Tata Power Renewable Energy (TPREL) has signed a Memorandum of Understanding (MoU) with NHPC Renewable Energy (NHPC-REL) to spearhead the installation of Rooftop Solar Projects (RTS Projects) across government buildings of Central Ministries, States, and Union Territories. This initiative, under the ambitious PM Surya Ghar Yojna Scheme, aims for 100% solarisation of government-owned buildings by December 2025.
Post-acquisition of additional spectrum in the 900 Mhz band in Kolkata, Vodafone Idea (Vi) (-3.15%) expanded L900 technology in 3000 sites across the city to enhance network infrastructure. L900 is an advanced technology that aims at providing a stronger 4G indoor coverage experience for users, with superior calling and faster data speeds. This is part of Vi’s broader strategy to upgrade its network infrastructure, following a successful Rs18,000 crore Follow-on Public Offering (FPO).’
Vascon Engineers (-5.69%) received approval for divestment of 100% equity stake/investment held in its GMP Technical Solutions (GMP)- a material subsidiary of the Company to Shinryo Corporation for an aggregate consideration of Rs 157 crore for a gross equity value of Rs185 crore. Post the proposed transaction, GMP will cease to be a subsidiary of the company.
Zydus Lifesciences (-0.19%) entered into a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company to market the novel Potassium Competitive Acid Blocker (P-CAB) Vonoprazan in India. The drug will be marketed under the brand name Vault in the country. Vault, a potassium competitive acid blocker (P-CAB), will be used to treat Gastroesophageal Reflux Disease (GERD) and other acid-related disorders.
Indian Renewable Energy Development Agency (IREDA) (-5.40%) received approval for equity investment of up to 10% shareholding each in GMR Upper Karnali Hydro Power, Nepal, and Karnali Transmission Company, Nepal (aggregating to Rs290 crore for both the SPVs), in association with SJVN, for setting up 900 MW Upper Karnali Hydro-Electric Power Project in Nepal, subject to the approval from the Government of India, other statutory/regulatory authorities, as applicable.
Zensar Technologies (+1.42%) acquired BridgeView Life Sciences LLC. The US based leader in information technology and operations provides a comprehensive range of advisory, transformation, and managed services exclusively for life sciences customers endeavoring to launch products or new indications, assess and optimize their operations, or engage in merger or acquisition transactions. This strategic move strengthens Zensar's Healthcare and Life Sciences (HLS) vertical and expands its pharma commercial and product launch expertise.
Ashok Leyland’s (-0.04%) subsidiary -- Hinduja Tech (HT) has signed a definitive agreement to acquire TECOSIM Group. This strategic acquisition broadens Hinduja Tech's presence in the European and international markets and solidifies its position as a leading provider of mobility engineering services worldwide. The company gains a strategic foothold in Europe, expanding its geographic reach and gaining access to key customer accounts.
UltraTech Cement (-0.07%) has entered into Power Purchase Agreement and Share Subscription and Shareholders Agreement with intention to acquire 26% equity shares of Amplus Omega Solar, a company engaged in generation and transmission of renewable energy.
Earnings:
Sterling & Wilson Renewable Energy (+0.37%): Net Sales was Rs915 crore in Q1FY25 up 78% YoY (Rs515 crore). Net Profit was Rs4.83 crore in Q1FY25 up 104% YoY (Rs95.3 crore)
Havells India (+3.24%): Net Sales was Rs5,806 crore in Q1FY25 up 20% YoY (Rs4,834 crore). Net Profit was Rs408 crore in Q1FY25 up 42% YoY (Rs287 crore)
Newgen Software: Net Sales was Rs283 crore in Q1FY25 up 26% YoY (Rs224 crore). Net Profit was Rs42.4 crore in Q1FY25 up 56% YoY (Rs27.2 crore)
Just Dial: Net Sales was Rs281 crore in Q1FY25 up 14% YoY (Rs247 crore). Net Profit was Rs141 crore in Q1FY25 up 61% YoY (Rs83.4crore)
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:
