Gift Nifty Down 91 Points | L&T Wins Multiple Order | AIA Engineering to Consider Buyback | Adani Wilmar & Top Buzzing Stocks Today

Tue, 30 Jul Pre-Open

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Indian stocks began trading at an all-time high on Monday, driven by gains in the banking sector following positive quarterly results from major lenders.

Indian stocks began trading at an all-time high on Monday, driven by gains in the banking sector following positive quarterly results from major lenders.

At the closing bell on Monday, the BSE Sensex stood higher by 23 points.

Meanwhile, the NSE Nifty closed higher by 1 point.

Nestle, ICICI Bank and Titan were among the top gainers.

Tech Mahindra, NTPC and BPCL on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 0.8% higher and BSE SmallCap index ended 1.2% higher.

Sectoral indices are trading mixed, with socks in auto sector, oil & gas and realty sector witnessing most buying. Meanwhile stocks in telecom sector and IT sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 68,875 at the time of Indian market closing hours on Monday.

At 7:55 AM today, the Gift Nifty was trading 91 points lower at 24,862 levels.

Indian share markets are headed for a negative start today following the trend on Gift Nifty.

Speaking of the stock market, Marcellus' star fund manager has hit a rough patch.

But is his new bet on fast-growing "challenger" companies the answer?

Rahul Shah, co-head of research at Equitymaster in his latest video analyses his strategy and see if it holds water.

Tune into below video for more details.

Top buzzing stocks today

Adani Wilmar share price will be in focus today.

Adani Wilmar zoomed 6.9% to Rs 348.1 after the company reported a consolidated net profit of Rs 3.1 bn in Q1 FY25 as against a net loss of Rs 0.8 bn posted in Q1 FY24.

The company achieved revenue of Rs 14,169 crore in Q1 FY25, driven by 12% YoY volume growth.

BEL will also be a top buzzing stock.

Shares of Bharat Electronics Ltd., the Navratna defence PSU, surged as much as 5% on Monday after the company released its quarterly results for the April-June period.

For the June quarter, the company's net profit increased by 46% year-on-year to Rs 7.8 bn.

Adani Total Gas Q1 Results

Adani Total Gas has reported a 14.4% rise in its net profit at Rs 1.7 billion (bn) on a year-on-year basis, compared to Rs 1.5 bn in the same period last year.

The company's revenue saw an 8.5% increase, reaching Rs 11.5 bn, up from Rs 10.6 bn in the previous year's corresponding quarter.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) witnessed a significant growth of 19.6%, amounting to Rs 2.9 bn as opposed to Rs 2.5 bn in the previous year.

Additionally, Adani Total Gas improved its EBITDA margin, which now stands at 26%, compared to 23.5% a year ago.

Adani Total Gas operates city gas distribution networks, supplying Piped Natural Gas (PNG) to industrial, commercial, and residential customers. and Compressed Natural Gas (CNG) to the transport sector.

The company has already set up city gas distribution networks in Ahmedabad and Vadodara in Gujarat, Faridabad in Haryana and Khurja in Uttar Pradesh.

In addition, the development of Allahabad, Chandigarh, Ernakulam, Panipat, Daman, Dharwad, and Udhamsingh Nagar gas distribution is awarded to a consortium of Adani Total Gas and Indian Oil Corporation.

L&T Wins Multiple Order

The Power Transmission & Distribution (PT&D) business of Larsen & Toubro (L&T) has secured new orders both domestically and internationally for the construction of substations and transmission lines.

According to an exchange filing, these projects are integral to the vast, interconnected electricity network, aiming to accelerate the clean energy transition and ensure a reliable, resilient power supply.

In India, L&T's PT&D has been entrusted with two 765kV double-circuit transmission line projects. These projects are vital for the evacuation of power from the Jaisalmer/Barmer Renewable Energy Zone in Rajasthan, channelling it to substations in Madhya Pradesh for further distribution.

This initiative is a step towards harnessing and utilising renewable energy resources efficiently within the country.

On the international front, Saudi Arabia continues its pursuit of sustainable and efficient power supply by bolstering its 380kV network in the central region.

L&T's PT&D has secured orders to construct a 380kV substation and 380kV overhead line segments. These developments are crucial for enhancing the region's electricity infrastructure and ensuring a stable power supply.

In the United Arab Emirates, L&T's PT&D has been awarded contracts to build a 220kV substation and three 132kV substations.

Larsen & Toubro, a USD 27 billion Indian multinational, is a prominent player in EPC projects, hi-tech manufacturing, and services with a global footprint.

AIA Engineering to Consider Buyback

Gujarat-based AIA Engineering via a filing on Monday announced that the company's board might consider a buyback of its shares in its upcoming meeting.

Following this announcement, the shares of the company jumped 7% to its new all-time high of Rs 4,690 on the BSE.

In case the company proceeds with its plans of buyback, this will be the first-ever instance of the company doing so, according to the data available on the BSE. The company has also not issued any bonus shares to date.

However, it pays out frequent dividends to its shareholders.

AIA Engineering specialises in the design, development, production, installation, and servicing of high chromium wear-resistant parts for grinding equipment in cement, mining and quarry industries.

AIA manufactures high-chrome grinding media, liners and diaphragms, collectively known as mill internals.

These are used for crushing and grinding operations in the cement, power utility aggregates and mining industries.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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