Sensex Today Ends 99 Points Higher | Smallcap Stocks Shine | Nykaa Jumps 9%, Tata Motors 3%

Tue, 30 Jul Closing

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After opening the day on the flat note, Indian benchmark indices remain muted as the session progressed but ended the day marginally higher.

Benchmarks equity indices, the BSE Sensex, and The NSE Nifty50 ended on a flat note on Monday.

At the closing bell, the BSE Sensex stood higher by 99 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 21 point (up 0.1%).

Tata Motors, NTPC and BPCL among the top gainers today.

Cipla, Grasim Industries and Sun Pharma on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,942, down by 11 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

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 0.3% higher and BSE SmallCap index ended 0.9% higher.

Sectoral indices are trading mixed, with socks in energy sector, power and telecom sector witnessing most buying. Meanwhile stocks in FMCG sector and IT sector witnessed selling pressure.

Shares of Info CAMS, Pfizer and Colgate hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.72 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 68,741 per 10 grams.

Meanwhile, silver prices were trading 0.1% higher at Rs 81,343 per 1 kg.

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Varun Beverages Announces Stock Split

In news from the liquor sector, PepsiCo's bottling franchise partner Varun Beverages on Tuesday announced a stock split in the ratio of 2:5 along with an interim dividend of Rs 1.25 per share for its shareholders while declaring its results for the June quarter.

The record date for the stock split will be announced by the company at a later date.

Additionally, the company announced that it will be paying an interim dividend of Rs 1.25 per share to its eligible shareholders for the financial year 2024.

The record date for the purpose has been fixed as August 9 while the payment of the dividend will take place on and from 13 August, according to the filing.

Meanwhile, for the second quarter ended June 2024, the company has reported a profit after tax (PAT) of Rs 12.6 billion (bn), rising 26% year-on-year (YoY) while its revenue grew 28% YoY to Rs 71.9 bn from Rs 56.1 bn for the corresponding quarter of the previous year.

Varun Beverages is one of the largest franchisees of PepsiCo in the world (outside the US). It accounts for more than 90% of PepsiCo's beverage sales volume in India.

The company produces and distributes a wide range of carbonated soft drinks, non-carbonated drinks, and packaged water. These are sold under trademarks owned by PepsiCo.

Granules India Q1 Results

Moving on to news from the pharma sector, Granules India reported an 181% jump in consolidated net profit for the quarter that ended June 2024.

For the June quarter, Granules India posted a net profit of Rs 13.5 bn, more than doubling from Rs 4.8 bn in the corresponding quarter last year.

The firm's revenue from operations came in at Rs 117.9 bn, 20% higher on-year from Rs 98.6 bn in the same period last year.

The EBITDA margin jumped 6% from 14% to 22%.

The revenue share from North America increased to 74% in Q1 FY25 compared to 61% in Q1 FY24.

Active pharmaceutical ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contribute 14%, 10%, and 76% of revenue from operations respectively for the quarter.

The pharma player's net debt stood at Rs 7.9 bn and the bet debt to EBITDA ratio came in at 0.77x.

Why Kansai Nerolac Share Price is Rising

Moving on to news from the paint sector, shares of Kansai Nerolac soared over 10% to Rs 310 per share on 30 July, following management's optimistic outlook for strong demand in the upcoming quarters due to favourable monsoon trends, despite the company having a subdued performance in the April-June quarter (Q1FY25).

Kansai Nerolac's consolidated net profit fell by 68.7% year-on-year (YoY) to Rs 2.3 bn in Q1FY25, while consolidated revenue from operations fell by a modest 1.1% YoY to Rs 21.3 bn.

Going ahead, the management expects favourable monsoon demand to improve for the decoratives segment, whereas performance coatings would improve based on continued thrust on infrastructure growth, new projects and order pipelines.

The quarter continued to witness good demand for Automotive Coatings.

Demand for Decorative was muted due to unprecedented heat waves, labour shortages and elections. Demand for Performance Coating was subdued however it picked up in June.

A combination of measures like cost control, product mix and procurement efficiencies helped improve gross margins over the corresponding quarter last year.

Raw material prices have now gradually started to harden due to various geopolitical issues. The company is actively taking steps to mitigate this cost increase.

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

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