Sensex gained 296 points to 81,657 and Nifty rallied marginally by 83 points to 24,919 in late noon trade on July 30. Nifty Bank rose 417 points to 51,823 and Nifty Midcap rallied 391 points to 58,753 on July 30. Large cap FMCG company Varun Beverages Ltd shares today witnessed decline of 5.52% despite reporting a jump of 25.5% in its profit after tax (PAT) to Rs 1261.83 crore for the June quarter as against Rs 1005.2 crore reported in the corresponding quarter of last year. Shares of Colgate-Palmolive India shares gained over 6% on Tuesday after it declared 33% gain in net profit at Rs 363.98 crore for the first quarter ended June 2024. The FMCG major share zoomed 6.19% to trade at Rs 3,407.75 apiece on the BSE.
Reliance Industries and L&T contributed to the initial surge, buoyed by another order win. However, this upward momentum was short-lived as a significant sell-off in banking stocks, which had been major contributors to Friday's gains and Monday's initial rally, pulled the index down. ICICI Bank, HDFC Bank, Axis Bank, ITC, TCS, and Infosys all saw corrections between 1% and 2% from their highs, dragging the Nifty lower.
The banking sector will remain under scrutiny on Tuesday, especially with the weekly expiry of the Financial Services index looming. The India VIX, a measure of market volatility, spiked by 5% on Monday.
Investors will also be watching a slew of quarterly earnings reports due on Tuesday. Companies like ACC, HPCL, Colgate-Palmolive, Data Patterns, KEI Industries, and others will react to their first-quarter earnings. Additionally, Tata Consumer Products, Ajanta Pharma, Dixon Technologies, Indus Towers, and several other companies will report their June quarter results. Notably, Indus Towers' board will consider its first share buyback in eight years.
LIVE Feed
Jul 30, 2024, 3:22 pm IST
IOC Gets Approval for Construction of Greenfield Terminal at Bihar, Patna
IOC Gets Approval for Construction of Greenfield Terminal at Bihta, Patna
Content: Indian Oil Corp Ltd has accorded stage - 1 approval for construction of Greenfield Terminal at Patna, Bihar . The company gets approval for construction of Greenfield Terminal at Bihta, Patna, Bihar on Barauni-Kanpur product Pipeline (BKPL) and Patna-Motihari- Baitalpur Pipeline (PMBPL) at an estimated cost of Rs. 1,698.67 crores as combined re-sitement of existing Marketing Terminal and Pipeline pump station in Patna and for undertaking pre project activities related thereto.
Jul 30, 2024, 2:55 pm IST
TCPL Announces Q1 FY2025 Financial Results Today
TCPL Packaging Limited (TCPL) has announced its financial results for the first quarter ended June 30, 2024. Total Revenue of the company stood at Rs. 405.6 crore, up 9.2%. The EBITDA for TCPL stood at Rs. 71.4 crore, with margins at 17.6%, while the PAT stood at Rs. 31.7 crore, up 34.4%. The EPS came in at Rs. 34.86/- and Mr. Saket Kanoria, Managing Director said “We are pleased to report that we have commenced the fiscal year 2025 on an encouraging note despite a soft domestic demand environment. On a Y-o-Y basis, our consolidated revenues grew by 9.2% to Rs. 405.6 crore in Q1. Furthermore, our EBITDA and PAT showcased strong growth of 16.4% and 34.4% respectively, with EBITDA margins improving by 108 bps to 17.6% on a YoY basis supported by a better product mix, operating leverage, and proactive cost management.”
Jul 30, 2024, 2:37 pm IST
Veranda K-12 Expands To Bring Cambridge Education To Eastern India
Veranda K-12, a Veranda Learning enterprise, announced that it’s expanding its support to schools in Eastern India, starting with Kolkata, in collaboration with the International Education group at Cambridge University Press & Assessment (Cambridge). As a Cambridge Associate, Veranda K-12 helps schools understand and meet the standards required to offer Cambridge programmes and qualifications. This collaboration aims to incorporate 500 new Indian schools into Cambridge's educational community. As Indian students increasingly seek global education opportunities, the demand for a versatile and robust educational framework meeting international standards has surged, especially in Tier 2 and Tier-3 cities. This is exemplified by Cambridge India's 2024 results, where over 18000 students for March exam series showed an 18% annual increase in demand for the Cambridge International AS & A Level.
Jul 30, 2024, 1:51 pm IST
Invicta Diagnostics Plans To Go Public; Eyes Rs 60 Cr Revenue By FY27
Invicta Diagnostics on Tuesday said it is planning to launch an initial public offer to finance its strategic expansion plans and eyeing a revenue of Rs 60 crore by FY2027. The Mumbai-headquartered diagnostic services provider reported a total revenue of Rs 15.83 crore and a profit after tax (PAT) of Rs 3.80 crore in FY24 based on restated consolidated financial information.
It posted a total revenue of Rs 6.84 crore and a PAT of Rs 0.23 crore in FY23, according to a statement. The company said it is on track to achieve a total revenue of Rs 25 crore in FY25. The company, prominent under the brand name PC Diagnostics, plans to achieve a revenue of Rs 60 crore by the financial year 2027, it said. It is planning to raise capital through an initial public offering (IPO) to finance its strategic expansion plans, according to PTI report.
Large cap FMCG company Varun Beverages Ltd shares today witnessed decline of 5.52% despite reporting a jump of 25.5% in its profit after tax (PAT) to Rs 1261.83 crore for the June quarter as against Rs 1005.2 crore reported in the corresponding quarter of last year. The surge in the profit was pushed by volume growth and improved margins, according to its BSE filing. Board of Directors of Varun Beverages today recommended 2:5 stock split along with an interim dividend of Rs 1.25 per equity share. Current market price of Varun Beverages shares on BSE is Rs 1590.85 per share. The company’s market capitalisation stood at Rs 2,06,742.24 crore.
Jul 30, 2024, 12:55 pm IST
Gold Price Slips In India, July 30: Check Latest Yellow Metal Prices After Decline
Gold prices in India on Tuesday declined as traders wait for more cues on when the US Federal Reserve will slash interest rates from this week’s Fed Reserve policy meeting. 22k gold prices today in India fell by Rs 200 to Rs 63,200/10 grams and 100 grams of 22 carat yellow metal prices today slipped by Rs 2000 to settle at Rs 6,32,000. 24K yellow metal prices today dived by Rs 210 to Rs 68,950/10 grams and 100 grams of 24 carat gold prices today in the country fell by Rs 2100 to Rs 6,89,500. Meanwhile, 18 carat gold prices today slipped by Rs 170 to Rs 51,710/10 grams and 100 grams of 18k gold prices today got cheaper by Rs 1700 to Rs 5,17,100.
Spot Gold, Spot Silver Prices Today: Spot gold fell 0.1% at ,380.31 per ounce, as of 0156 GMT. US gold futures witnessed marginal change at ,377.30. Platinum remained steady at 8.55 and palladium fell 0.7% to 7.50. spot silver declined 0.1% to .84 per ounce, according to Reuters.
Jul 30, 2024, 12:37 pm IST
Strides Pharma Science Shares Jump 4% After Robust Earnings
Strides Pharma Science shares jumped 4% in the morning trade on Tuesday after the company said its profit after tax from continuing operations stood at Rs 84 crore for the June quarter.
Strides Pharma shares zoomed 4.02% to trade at Rs 1,071.60 per share on the National Stock Exchange (NSE). On the BSE, the scrip of Strides Pharma Science jumped 3.54 per cent to trade at Rs 1,070.35 per piece. In the intra-day session, the pharmaceutical company's stock advanced to hit its 52-week of Rs 1,123 and 1,120.30 apiece on the NSE and the BSE, respectively.
Jul 30, 2024, 12:25 pm IST
Colgate-Palmolive Hits 52-week High After Healthy Q1 Results
Colgate-Palmolive India shares gained over 6% on Tuesday after it declared 33% gain in net profit at Rs 363.98 crore for the first quarter ended June 2024. The FMCG major share zoomed 6.19% to trade at Rs 3,407.75 apiece on the BSE. Later, Colgate-Palmolive shares gained 6.75% to trade 52-week high of Rs 3,425.90 per piece. Also, the company's market valuation soared by Rs 5,895.29 crore to Rs 93,179.55 crore. The 30-share BSE Sensex jumped 316.99 points or 0.39 per cent to trade at 81,672.83. In a regulatory filing on Monday, FMCG major Colgate-Palmolive India reported a 33 per cent rise in net profit at Rs 363.98 crore for the first quarter, helped by a demand pickup and good performance of products. The oral hygiene product maker had posted a net profit of Rs 273.68 crore in April-June FY24, according to the regulatory filing. Sales were up 13 per cent to Rs 1,485.76 crore during the quarter under review as against Rs 1,314.73 crore in the corresponding period a year ago, it added.
Jul 30, 2024, 12:22 pm IST
Gold Price Updates
Gold Price India: 22k/10 grams gold rate falls by Rs 200, Check latest yellow metal prices
Jul 30, 2024, 12:04 pm IST
Paytm Has Launched India's First NFC Card Soundbox
One 97 Communications Limited (OCL), which owns the Paytm brand, has unveiled India's first NFC Card Soundbox, a two-in-one mobile QR payment gadget. This new product combines NFC card payment technologies and smartphone QR payments.
Jul 30, 2024, 11:40 am IST
TCS Signs to Provide Infrastructure and Cybersecurity Services for 3 Years With US-Based Follett Higher Education
A three-year contract has been signed by Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global provider of IT services, consulting, and business solutions, to fortify Follett Higher Education's cybersecurity and information technology infrastructure. Follett Higher Education is the top college store operator in North America. Through the use of proprietary platforms and solutions like TCS CognixTM and Cloud Exponence, TCS aims to improve the IT infrastructure to better support Follett's cutting-edge academic and retail offerings for higher education institutions in the US and Canada.
Jul 30, 2024, 11:03 am IST
Suzlon Energy Shares Surge 23% in Six Sessions Following Q1 Results
Suzlon Energy Ltd. shares are currently trading at Rs 68.22, a 5% increase from the previous close. This marks the stock's eighth consecutive day of gains. In the six trading sessions since the wind turbine manufacturer announced its June quarter earnings, the stock has climbed 23%.
Jul 30, 2024, 10:33 am IST
Colgate-Palmolive's Stock Price Rises While The Sensex Rises 60.31 Points.
The share price of Colgate-Palmolive (India) Ltd. gained 5.99 per cent to Rs 3,405.00 at 10:30 am (IST) in Tuesday's trade. The scrip has hit a high of Rs 3413.75 and low of Rs 3250.05 so far during the session. The stock had closed at Rs 3209.15 in the previous session.
Jul 30, 2024, 10:12 am IST
Carlyle Reportedly Sells Its Stake In PNB Housing In a Block Deal Worth Rs 2,642 Crore
US-based private equity firm Carlyle is likely to sell upto a 6.4% stake in PNB Housing Finance through an open market transaction on Tuesday. According to a term sheet issued by IIFL Securities, Quality Investment Holdings, an entity of Carlyle, will sell 1.66 crore shares at a floor price of Rs 775 apiece, aiming to raise Rs 1,256 crore. The floor price represents a 5% discount to Monday’s closing price of Rs 794.90. PNB Housing stock has grossly underperformed so far this year, with just a 1.2% gain compared to a 13% rise in the benchmark Sensex. As of June 30, 2024, Carlyle held a 32.68% stake in the housing finance company.
Jul 30, 2024, 9:56 am IST
L&T Technology and PS Technology Join Forces For Railway Mobility Technologies
L&T Technology Services and PS Technology (PST), a wholly-owned subsidiary of Union Pacific Railroad, have announced a strategic partnership to introduce advanced simulation technology to the railways market in India and neighboring regions. The companies have signed a Memorandum of Understanding (MoU) to focus on the design, development, and supply of AI-based simulation technologies aimed at significantly improving the operational efficiency and safety of rail infrastructure both in India and overseas.
Jul 30, 2024, 9:37 am IST
Akums Drugs Raises Rs 829 Crore Through Anchor Investors Ahead of IPO Launch on July 30
New Delhi-based Akums Drugs and Pharmaceuticals has raised Rs 828.8 crore from multiple anchor investors in anticipation of its public issue opening on July 30. Prominent global investors such as Blackrock, Smallcap World Fund, Abu Dhabi Investment Authority, HSBC Global, Florida Retirement System, Carmignac Portfolio, and Neuberger Berman Emerging Markets Equity Fund purchased 33.5 lakh equity shares valued at Rs 227.5 crore.
Jul 30, 2024, 9:26 am IST
Market Opens Flat
The market opened near the flatline ahead of significant global macro events this week, with the Nifty holding at 24,800 and the Sensex remaining unchanged. Metal stocks were among the biggest laggards.
Jul 30, 2024, 9:07 am IST
Rupee Opens Unchanged
The Indian Rupee opened unchanged at 83.73 per US Dollar on Tuesday, maintaining the same level as Monday's close.
Jul 30, 2024, 8:55 am IST
Oberoi Realty to Develop Prime Land in Bandra, Mumbai
Oberoi Realty has signed a Development Agreement for the development and redevelopment of approximately 2,576 square meters of land located on Carter Road, Bandra (West), Mumbai. The company anticipates generating a free sale component of around 40,000 square feet (RERA Carpet area) from this project.
Jul 30, 2024, 8:39 am IST
Oil Prices Decline Amid China Demand Concerns and Eased Middle East Tensions
Oil prices slipped in early Asian trading on Tuesday, extending losses from the previous session due to concerns about Chinese demand and diminishing fears of escalating conflict in the Middle East. Brent crude oil futures fell by 12 cents, or 0.15%, to .78 a barrel, while US crude futures were down 14 cents, or 0.18%, at .67 a barrel.
Jul 30, 2024, 8:20 am IST
GIFT Nifty Signals Weak Start for Indian Markets
Trends on the GIFT Nifty indicate a weak start for the broader index in India, with a projected loss of 98.5 points or 0.39%. Nifty futures were trading around the 24,854 level.
Jul 30, 2024, 8:09 am IST
Asian Markets Slide as Bank of Japan Meeting Commences
Asian markets were trading lower across the region on Tuesday, with the Kospi and Nikkei each down 1%, as the Bank of Japan kicked off its two-day monetary policy meeting.
Click it and Unblock the Notifications
Sign in with Google