The NSE Nifty 50 ends up by 1.25 points or 0.01% to settle at 24,836.10, while the BSE Sensex jumped 23.13 points or 0.03% to 81,355.85.

Divis Lab, BPCL, L&T, Bajaj Finserv, and UltraTech Cement are the top gainers on NSE Nifty 5o index whereas the top laggards include Titan Company, Bharti Airtel, Cipla, Kotak Mahindra Bank, and ITC.

Kansai Nerolac Paints reported a significant decline in its Q1FY25 financial results, with net profit plummeting 69% to Rs 231 crore compared to Rs 738 crore in the same quarter last year. Revenue also saw a drop of 11%, falling to Rs 2,133 crore from Rs 2,157 crore year-on-year. The company’s EBITDA decreased marginally by 0.7% to Rs 329.5 crore from Rs 332 crore in the previous year. Despite the overall decline, the EBITDA margin remained unchanged at 15.4% year-over-year.

Monarch Networth Capital has emerged as one of the standout multibagger stocks in the Indian stock market in recent years. Over the past two and a half years, the stock has surged from around Rs 175 to Rs 665 apiece on the NSE, marking a remarkable rise of nearly 275%.Come from Sports betting site

In a recent development, the board of directors has declared a 1:1 bonus issue, doubling the number of shares for existing shareholders. This announcement follows the declaration of a Rs 1 per share dividend, which represents 10% of the face value of Rs 10 per share. The bonus shares issuance and dividend come as part of the company’s efforts to reward its investors and enhance shareholder value.

Shares of Bharat Electronics traded higher on Monday, with a notable surge of up to 5% after the Navratna defense PSU announced its quarterly results for the April-June period. The company reported a 46% year-on-year increase in net profit for the June quarter, reaching Rs 776 crore, significantly surpassing street estimates.

Commenting on the dollar rupee outlook Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said that Indian Rupee traded on flat note on Monday. Positive domestic markets and weak crude oil prices supported the Rupee. However, a recovery in the US Dollar and importer demand capped sharp gains.

Choudhary also added that We expect Rupee to trade with a slight negative bias on a month-end Dollar demand from importers and OMCs. A recovery in the US Dollar ahead of FOMC meeting this week may also weigh on the Rupee. However, a positive tone in the domestic markets and fresh FII inflows may support the Rupee at lower levels. Investors may remain cautious ahead of FOMC, BoE and BoJ meeting this week. USDINR spot price is expected to trade in a range of Rs 83.50 to Rs 84.

Analysts at Jefferies have set a target price of Rs 150 for PNB, highlighting a potential upside of around 20%. They noted that while Q1FY25 asset quality remained strong, the net profit was slightly below estimates due to higher operating expenses related to Priority Sector Lending Certificates (PSLCs).

Jefferies expects earnings to continue rebounding, with a lower slippage ratio of 0.8% and low credit costs anticipated for the next 1-2 years. They forecast a Return on Assets (RoA) of 0.9% by FY26 and maintain a “Buy” rating.

Courtesy: NSE

Shares of Adani Wilmar rose 7.6% to an intraday high of Rs 349.70 after the company reported its Q1 numbers. The company posted a consolidated net profit of Rs 313.2 crore in Q1 FY25, compared to a loss of Rs 78.9 crore last year. Its revenue increased 9.6% on year to Rs 14,168 crore.

Shares of REC rose 3% to an intraday high of Rs 645 after the company reported its Q1 FY25 numbers. The company’s consolidated net profit increased 16.57% on year to Rs 3,460.19 crore on account of higher revenues. A year ago in the same quarter, its net profit came in at Rs 2,968.05 crore. Also, the company will pay an interim dividend of Rs 3.50 per equity share.

The stock of Titan fell 2.5% to an intraday low of Rs 3,408.20 from its previous close of Rs 3,494.15. The company has an upper band placed at Rs 3,144.75. The stock has given a return of 5% in the last five days. However, it has erased 0.7% of investors’ wealth in the last one month.

According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, after the Indian currency rupee fell to an all-time low due to high dollar demand from importers, he expects the rupee to trade with a slight negative bias on a month-end Dollar demand from importers and OMCs. “A recovery in the US Dollar ahead of the FOMC meeting this week may also weigh on the Rupee. However, a positive tone in the domestic markets and fresh FII inflows may support the Rupee at lower levels. Investors may remain cautious ahead of the FOMC, BoE and BoJ meeting this week. USDINR spot price is expected to trade in a range of Rs 83.50 to Rs 84,” said Choudhary.

WTI crude oil slipped 4.6% last week, marking a third consecutive weekly decline as weak demand prospects from top importer China and hopes for a ceasefire in Gaza outweighed the impact of declining U.S. stock levels, said Kaynat Chainwala, Assistant Vice President of Commodity Research at Kotak Securities. “Today, oil prices edged higher but trade near a week low at $77.4/bbl as markets assess better than expected Chinese industrial profits, uncertainty regarding Israel-Gaza truce and keenly await OPEC+ meeting due August 1. Official data showed China’s major industrial firms made a total profit of 3.51 trillion yuan ($484.1 billion) in the first half of the year, marking a year-on-year growth of 3.5%.” The situation in the Middle East worsened after Israel attacked Hezbollah targets on Sunday and threatened further retaliation for an earlier rocket strike that killed 12 children while continuing to signal it was open to a proposed Gaza truce.

IIFL has maintained its “Buy” rating on IndusInd Bank, while cutting the target price from Rs 1,650 to Rs 1,620. According to the IIFL report, the bank experienced muted loan growth in high-yielding segments, and asset quality softened seasonally as expected.

The report also indicates that the re-rating of the stock will be gradual due to the delayed rate cut cycle. Additionally, IIFL expects a slower upward normalization of credit costs compared to the bank’s peers.

Shares of Sumitomo Chemical India surged 7% to hit an all-time high of Rs 540.45 on the NSE during Monday’s intraday trading, following the company’s robust earnings report for the June quarter.

The company reported a 105% increase in net profit, reaching Rs 127 crore for the quarter ended June 2024, up from Rs 62 crore in the same period last year. Revenue also rose by 16% year-on-year to Rs 839 crore, compared to Rs 724 crore for the quarter ending June 2023.

L&T, BPCL, Divis Lab, UltraTech Cement, and State Bank Of India are the top gainers on NSE Nifty 50 index whereas the top laggards include Titan Company, Bharti Airtel, Tata Consumer Products, Cipla, and Tech Mahindra.

On Monday, PI Industries’ share price rallied over 5% to reach a record high of Rs 4,430.00 apiece on the BSE. The stock has gained more than 15% in the past month and over 24% year-to-date (YTD).

The recent surge in PI Industries’ share price follows a bullish recommendation from brokerage firm Axis Securities, which has named the stock as its pick of the week.

Arvind Ltd. has announced its Q1 financial results, reporting a 37% decline in net profit to Rs 44 crore, compared to Rs 70 crore in the same quarter last year. The company’s revenue decreased by 1.2% to Rs 1,831 crore, down from Rs 1,853.3 crore year-over-year (YoY). EBITDA dropped by 17% to Rs 150 crore from Rs 180.4 crore YoY, with margins narrowing to 8.2% from 9.7% during the same period.

Shares of IndusInd Bank rose over 2% to Rs 1,436 apiece on July 29 after the private lender reported decent Q1FY25 results. Despite the Q1 earnings missing estimates, brokerages remain bullish due to the bank’s attractive valuations, though they have lowered their target prices.

In its latest report on IndusInd Bank, Nomura has maintained a “Neutral” rating while reducing the target price from Rs 1,650 to Rs 1,580. The report highlights a continued moderation trend in the bank’s Current Account Savings Account (CASA) deposits.

Loan growth for the quarter was relatively soft at 15% year-on-year. Additionally, the bank’s credit cost stood at 1.3%, aligning with the upper end of the guidance provided.

Shares of RITES rose over 13% to an intraday high of Rs 754.30 after the company announced that its board will consider issuing bonus shares for shareholders in its upcoming board meeting on July 31.

The domestic currency Indian rupee slipped ot an all-time low as importers’ heavy demand for the dollar pressured in. The currency declined to 83.73 to the dollar, surpassing the previous low of 83.7275.

The NSE Nifty 50 was up 144 points or 0.58% at 24,978.45, while the BSE Sensex was up 511 points or 0.63% at 81,843.27.

Shares of Larsen & Toubro rose 3% to an intraday high of Rs 3,784.90 after it won multiple large orders. The company’s Power Transmission & Distribution (PT&D) business secured new orders in India and abroad for establishing substations and transmission lines which are crucial elements of the vast, interconnected electricity network. The value of a significant order is between Rs 1000 crore and Rs 2500 crore, large orders are worth Rs 2500 crore- Rs 5000 crore, major orders are in the range of Rs 5000 crore- Rs 7000 crore and mega orders are worth above Rs 7000 crore.

Banking stocks are higher and contributing the most to the index. IndusInd Bank, SBI, and ICICI Bank were the top three movers in the Sensex. Come from Sports betting site VPbet

Courtesy: BSE

Shares of Bandhan Bank rose 13.4% to an intraday high of Rs 218.20 on the back of healthy Q1 numbers. The bank reported a growth of 47.5% on year in its net profit standing at Rs 1,063.5 crore for the quarter against Rs 721 crore in the first quarter of FY24.

On Monday, July 29, Larsen & Toubro’s share price surged 2.66% to Rs 3,777.30 after the company announced that its power transmission and distribution business secured multiple orders valued between Rs 2,500 crore and Rs 5,000 crore. These orders involve building grid elements essential for the clean energy transition.

Punjab National Bank (PNB) saw its share price surge over 7% in morning trades on Monday, following the announcement of its Q1 results over the weekend.

PNB’s share price opened at Rs 124.86, nearly 4% higher than the previous close of Rs 119.95 on the NSE. The stock continued to climb, reaching intraday highs of Rs 128.66, marking gains of more than 6%.

Shares of City Union Bank surged 8% in intraday trading to 52-week high of Rs 174 on NSE after the release of the company’s June quarter results, announced on Friday after market close. Investors reacted positively to the report, particularly noting a reduction in provisions.

For Q1 FY25, the bank reported a net interest income of Rs 545 crore, up from Rs 523 crore in Q1 FY24. Non-interest income saw a slight increase to Rs 192 crore from Rs 191 crore in the same period. However, gross profit declined to Rs 373 crore from Rs 414 crore year-over-year.

Morgan Stanley has maintained an “Overweight” rating and increased the target price to Rs 1,500 from Rs 1,400. The report highlights the bank’s uninterrupted delivery and expresses confidence that the stock will perform well following a strong F1Q25.

Morgan Stanley notes that ICICI Bank’s Return on Assets (RoAs) are significantly above normalized levels, providing a buffer to absorb potential margin normalization. Additionally, the bank is well-positioned to handle potential regulatory changes.