M&M, Ambuja Cements Q1 Results | FirstCry IPO | Top Buzzing Stocks Today

Thu, 1 Aug Pre-Open

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Indian benchmark indices continued the momentum as the session progressed but ended the day higher.

Indian shares traded slightly higher on Wednesday, driven by Maruti Suzuki India ahead of its quarterly results.

At the closing bell on Wednesday, the BSE Sensex stood higher by 286 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 93 point (up 0.4%).

JSW Steel, NTPC and Asian Paints were among the top gainers.

Britannia, Grasim Industries and Reliance Industries on the other hand, were among the top losers.

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The BSE MidCap index ended 0.9% higher and BSE SmallCap index ended marginally higher.

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

Gold prices for the latest contract on MCX were 0.5% higher at Rs 69,524 at the time of Indian market closing hours on Wednesday.

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Top buzzing stocks today

Zee Entertainment share price will be in focus today.

Shares of Zee Entertainment Enterprises (ZEE) surged 5.8% to a high of Rs 153.45 in intra-day deals on Wednesday after the media company reported a turnaround in the June quarter (Q1FY25).

The counter saw trades of around 15 lakh shares as against the two-week average volume of around 13.4 lakh shares.

Trent will also be a top buzzing stock.

Shares of Trent extended gains for the eighth consecutive session, rising 3.6% to reach a new record high of Rs 5,826 per share on 31 July.

This uptick is driven by expectations that the retail firm will be included in the Nifty 50 index during the September reshuffle.

M&M Q1 Results

The company's standalone revenue rose 11.2% year-on-year (Y-o-Y) to Rs 271.3 bn in Q1FY25, as opposed to Rs 244 bn in Q1FY24.

However, profit dipped over 5% Y-o-Y to Rs 26.1 bn in Q1FY25, from Rs 27.6 bn in the same quarter last year.

At the operational level, earnings before interest, tax, depreciation and amortisation (Ebitda) jumped almost 16% Y-o-Y to Rs 41.1 bn in the June quarter of FY25, from Rs 35.5 bn in the same quarter last year (Q1FY24).

Consequently, EBITDA margin rose 80 basis points (bps) to 15.2% in the June quarter of the financial year 2025, as against 14.6% in the June quarter of FY24.

The company achieved record-breaking Q1 volumes, with a 14% increase to 212,000 units and a major rise in UV volumes, reaching 124,000 units.

The SUV production capacity is set to expand from 49,000 units per month at the end of FY24 to 64,000 units per month by the end of FY25, M&M claims.

FristCry IPO

The initial public offering (IPO) of Brainbees Solution, which operates omnichannel businesses of kidswear under the brand name FirstCry, will open on August 6. The IPO includes a fresh issue of Rs 16.6 bn and an offer for sale (OFS) of up to 54 m shares by existing shareholders like M&M and SoftBank.

Anchor investor round will open a day before the IPO launch on 5 August, the company said in its red herring prospectus (RHP) filed with the markets regulator Sebi. The price band will be announced later on in the week.

Mahindra & Mahindra (M&M) plans to sell up to 28.06 lakh shares of the company in the IPO. SoftBank-operated SVF Frog will sell 20,318,050 shares. Others participating in the OFS in the OFS include PI Opportunities Fund, TPG Growth and NewQuest Asia, Apricot Investments, Satyadharma Investments, Schroders Capital, Sage Investment and Pratithi Investment.

Last valued at under US$ 3 bn, Supam Maheshwari-led FirstCry is likely to price itself at around US$ 3 bn for the IPO, according to reports.

In FY24, the company reported a 15% growth in operating revenue at Rs 64.8 bn, while it reduced losses by 34% to Rs 3.2 bn during the same period. Over the last three financial years, the company's revenue from operations has grown to 6,481 crore for FY24 from Rs 24 bn FY22. Brainbees said it is the largest multi-channel retailing platform for mothers', babies' and kids' products, in terms of GMV, for FY24.

Ambuja Cements Q1 Results

Adani group company Ambuja Cements on 31 July reported its results for the April to June 2024 period.

Ambuja Cements' revenue in the quarter under review fell 4.5% year-on-year to Rs 45.2 bn from Rs 47.3 bn in the same period a year ago.

The cement maker's profit declined 11.5% year-on-year to Rs 5.7 bn in the June 2024 ended period, from Rs 6.5 bn in the corresponding quarter in the previous fiscal.

It must be noted that the firm reported an exceptional gain Rs 130 m.

The company's EBITDA on the other hand suffered a massive drop of 32% to Rs 6.5 bn. In the June ended quarter of a year ago, its EBITDA stood at Rs 9.5 bn. Its EBITDA/tonne came in at Rs 807.

Ambuja Cements' margin also witnessed a hit during the quarter. It shrank to 14.3% in the first quarter of FY25 compared to 20% in the same quarter last fiscal.

The firm's sales volume rose slightly to 9.3 mt compared to 9.1 mt in the period a year ago.

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