Gift Nifty Down 216 Points | Adani Ports & Dabur Q1 Results | Why Ashok Leyland Share Price is Falling | Top Buzzing Stocks Today

Fri, 2 Aug Pre-Open

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   10:30 am   

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

Benchmark equity indices, the BSE Sensex and NSE Nifty50, settled at record highs on closing levels on Thursday.

At the closing bell on Thursday, the BSE Sensex stood higher by 126 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 60 point (0.2%).

Coal India, ONGC and HDFC Bank were among the top gainers.

M&M, Hero MotoCorp and SBI 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% lower and BSE SmallCap index ended 0.7% lower.

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

Gold prices for the latest contract on MCX were 0.2% higher at Rs 69,777 at the time of Indian market closing hours on Thursday.

At 7:45 AM today, the Gift Nifty was trading 216 points lower er at 24,840 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 Energy share price will be in focus today.

Shares of Adani Energy Solutions surged nearly 10% on Thursday after the US$1-billion qualified institutional placement (QIP) was oversubscribed six times, garnering a demand of over.

The two-day qualified institutional placement (QIP) opened on Wednesday. Duquesne Family Office, the fund founded by billionaire investor Stanley Druckenmiller, and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - have invested in it.

Suzlon Energy will also be a top buzzing stock.

Shares of Suzlon Energy are seeing some profit booking after eight days of relentless rise, slipping down by 3% to Rs 67 per share mark.

The sharp uptick comes after the wind energy player reported a solid 2% year-on-year surge in net profit, at Rs 3 bn for the June quarter.

Dabur Q1 Results

Dabur on Thursday reported an 8% jump in its consolidated net profit for the June 2024 quarter to Rs 5 bn against Rs 4.6 bn a year back.

Meanwhile, consolidated net profit after taxes from continuing operations stood at Rs 19.8 bn, up 18% from Rs 16.7 bn reported in the year-ago period.

The revenue from operations for the reported quarter stood at Rs 33.5 bn, up 7% over Rs 31.3 bn posted in the corresponding quarter of the previous financial year.

On a sequential basis, the consolidated profit after tax (PAT) jumped 43% versus Rs 3.5 bn in Q4FY24. The revenue uptick was 19% on a QoQ basis at Rs 28.1 bn crore in Q4FY24.

The India FMCG business posted volume growth of 5.2% for the quarter.

Despite a challenging demand environment marked by high food inflation and unemployment rate, Dabur delivered strong 8.3% growth in operating profit, demonstrating the resilience of its business model.

Dabur's International Business reported 18.4% growth in constant currency terms. The Egypt business reported a near 64% growth and Nigeria grew by 181%, while Sub-Saharan Africa grew by 21.4% and MENA by 13%.

Sun Pharma Q1 Results

Sun Pharmaceuticals, India's largest drugmaker reported US formulation sales of $466 million for the April-June quarter, which is a decline of 1% from the same quarter last year.

US formulations contributed to 31.1% of Sun Pharma's consolidated sales during the quarter.

Sun Pharma reported a net profit of Rs 28.4 billion (bn). Revenue for the quarter stood at Rs 126.5 bn.

Sun Pharma's India formulation sales grew by 16.4%to Rs 41.4 bn, accounting for about 33.1% of total consolidated sales. The company launched six new products in the Indian market during the quarter.

Global speciality sales increased by 14.7% to US$ 266 m, contributing 17.7% to the total sales. Emerging markets formulation sales rose by 8.8% to US$ 284 mi, while the rest of world formulation sales were down by 2.9% to US$ 190 m.

Adani Ports Q1 Profit Jumps 47%

Adani Ports and Special Economic Zones on August 1 reported a 47% on-year rise in its consolidated net profit to Rs 31.1 bn for the April-June quarter of fiscal 2024-25 (Q1FY25), helped by a Rs 6 bn gain from the disinvestment of stake in a container terminal subsidiary.

The growth in net profit was also driven by a rise in total revenues.

The company had reported a net profit of Rs 21.1 bn in the April-June quarter last year.

The port operator's revenue from operations in the first quarter of the current fiscal stood at Rs 69.6 bn, registering a rise of 11%, compared to Rs 62.5 bn in the year-ago period.

The shipping major managed to surpass market expectations for its Q1 Y25 results on the bottom line.

During the quarter, Adani Ports concluded the divestment of 49% equity stake of Adani Ennore Container Terminal Pvt Ltd, a subsidiary of the Company, for consideration of Rs 2.5 bn, and recorded a gain of Rs 6 bn in the statement of profit and loss, it said.

Why Ashok Leyland Share Price is Falling

Ashok Leyland shares sank over three percent on August 1, after the auto-maker shared its monthly sales data with total sales at 13,928 units.

Ashok Leyland's total sales decreased 8% in July, with 13,928 units sold compared to 15,068 units in the same month last year.

The sales of Medium & Heavy Commercial Vehicles (M&HCV) also saw a decline, dropping by 12% to 8,440 units from 9,571 units in the year-ago period.

Specifically, M&HCV truck sales saw a significant reduction, falling by 20% to 6,426 units from the previous year's 8,037 units.

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

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