July 15th 2024.
The stock market was abuzz with excitement as the bourses witnessed a historic opening today. The BSE Sensex reached an all-time high of 81,587.76 points within the first few minutes of trading. However, it soon saw a slight dip of 0.08 per cent and was trading at 81,342.97 points. The NSE Nifty also followed suit and reached record levels of 24,854.80 points, while trading at 24,756.35 points with a marginal decrease of 0.19 per cent.
In the world of business, the Q1 earnings report of various companies is always eagerly awaited. Dalmia Bharat Limited reported a total income of Rs 3,671 crore, slightly lower than the previous year's Rs 3,681 crore. Similarly, South Indian Bank saw a dip in its total income from Rs 2,735.96 crore to Rs 2,386.06 crore. However, Trident Texofam Limited saw a slight increase in its total income at Rs 26.57 crore, compared to Rs 22.98 crore in the previous year. L&T Technology Services Limited reported a profit of Rs 313.9 crore, showing growth from the previous year's Rs 312.1 crore.
Infosys, one of the leading IT companies, had a strong performance in Q1 with a total income of Rs 40,153 crore, higher than the previous year's Rs 38,494 crore. Tata Communications, on the other hand, saw a decline in its net profit from Rs 381.75 crore to Rs 332.93 crore in Q1 of FY25.
In a surprising turn of events, the Nifty Junior dropped by 1.23 per cent or 907.80 points in the intraday trade on Thursday, July 18. This was in contrast to the BSE Sensex and NSE Nifty, which were trading in the green at the time. Reliance Industries Limited, which is set to declare its quarterly results, saw a dip in its share prices by 0.13 per cent.
The Indian stock market had a rough start today, with the major indices trading in the red. However, there was a turnaround in the afternoon, with the BSE Sensex jumping 142 points and the Nifty Bank seeing a marginal decline of 0.06 per cent. Companies like LTIMindtree, India Cement, and Infosys were amongst the top gainers, while Tata Steel saw a decline of over 1 per cent.
Century Textiles and Industries Limited reported a consolidated total income of Rs 1,167.59 crore, an increase from the previous year's Rs 900.70 crore. The company also saw a rise in its total revenue and achieved a net profit of Rs 17.35 crore, compared to a loss in the previous year. Similarly, DB Corp Limited reported a rise in total income and revenue, along with a net profit of Rs 117.8 crore.
Bajaj Auto, one of the leading automakers in the country, saw a 2.70 per cent increase in its net profit for the first quarter of the new fiscal year. The company earned a profit of Rs 1,988.34 crore, compared to Rs 1,936.00 crore in the previous quarter. With such promising results, the market is sure to see further growth and development in the coming days.
The stock market was buzzing with excitement as the Dalal Street witnessed a record-high opening today. The bourses were off to a strong start, with the BSE Sensex reaching an all-time high of 81,587.76 points in the opening minutes. At 9:28 am, the sensex was trading at 81,342.97 points, showing a marginal decrease of 0.08 per cent. Following in the footsteps of the sensex, the NSE Nifty also saw new record levels of 24,854.80 points. However, at 9:28 am, the nifty was trading around 24,756.35 points, with a meager 0.19 per cent decrease.
In the world of earnings, Dalmia Bharat Limited reported its Q1 earnings with a total income of Rs 3,671 crore, compared to Rs 3,681 crore in the same period last year. The total expense for the company was Rs 3,364 crore, lower than the Rs 3,496 crore in the previous year. The profit for the period stood at Rs 145 crore, a slight increase from Rs 144 crore in Q1 of the previous year. Similarly, the South Indian Bank also reported its Q1 earnings with a total income of Rs 2,735.96 crore, up from Rs 2,386.06 crore in the previous year. The total expense for the bank was Rs 2,228.51 crore, compared to Rs 1,895.52 crore in the previous year. The profit for the period stood at Rs 293.90 crore, showing substantial growth from Rs 202.58 crore in the same period last year. Another company, Trident Texofam Limited, reported a total income of Rs 26.57 crore, the same as the previous year. However, the total expense for the company was Rs 25.65 crore, compared to Rs 22.98 crore in the previous year. The profit for the period was Rs 0.69 crore, a significant improvement from the loss of Rs 0.12 crore in the same period last year. L&T Technology Services Limited also reported its Q1 earnings with a total income of Rs 2,524.1 crore, compared to Rs 2,349.1 crore in the same period last year. The total expense for the company was Rs 2,091.4 crore, lower than the Rs 1,918.0 crore in the previous year. The profit for the period stood at Rs 313.9 crore, a slight increase from Rs 312.1 crore in Q1 of the previous year.
Infosys also made headlines with its robust performance in Q1, reporting a total income of Rs 40,153 crore, compared to Rs 38,494 crore in the same period last year. The total expenses for the company were Rs 31,132 crore, up from Rs 30,132 crore in the same period last year. The company's profit for the period amounted to Rs 6,374 crore, showing growth from Rs 5,945 crore in Q1 of the previous year. Another major company, Tata Communications, reported a net profit of Rs 332.93 crore in Q1 of FY25, compared to Rs 321.52 crore in the previous quarter. However, this was lower than the net profit of Rs 381.75 crore in the same period last year. The company also saw a decrease in its total income from Rs 5,748.70 crore in the last quarter to Rs 5,659.71 crore in the quarter that ended on June 30.
In other market news, Nifty Junior took a hit, dropping by 1.23 per cent or 907.80 points in the intraday trade on Thursday, July 18. The index slumped to 73,013.90 points, while other major indices were trading in the green. At the time of this update, both BSE Sensex and NSE Nifty were trading in the green. Meanwhile, Reliance Industries Limited was set to declare its quarterly results for the quarter that ended on June 30. The company's shares saw a dip of 0.13 per cent or Rs 4.20, reaching the price of Rs 3,148.30 per share.
The Indian bourses started the day in the red, but quickly turned the tide and began trading in the green. At 11:03 am, the Sensex was up by 0.18 per cent, trading around 80,858.62 points, with a jump of 142 points. The Nifty bank was trading around 52,365.20 points, showing a slight decline of 31.60 points or 0.06 per cent. On the NSE, LTIMindtree was one of the top gainers, trading around Rs 5,736.30 per share with a jump of 3.13 per cent. India Cement and Infosys were also trading in the green, around Rs 343.65 per share and Rs 1,735.70 per share, respectively.
However, there were some laggards in the market as well. Tata Steel saw a decline of over 1 per cent, and the Indian market resumed trading on Thursday with major indices trading in the red. The BSE Sensex dropped to 80,527.74 points, a decrease of 188.81 points or 0.23 per cent. Similarly, the NSE Nifty also saw a decline of 51.20 points or 0.21 per cent, slumping to 24,561.80 points. The Nifty Bank also saw a decrease of 11.20 points or 0.02 per cent, taking the overall value to 52,385.60 points. While Axis Bank, Sun Pharma, and TCS were the top gainers, Asian Paints and Tata Steel were amongst the laggards.
Century Textiles and Industries Limited reported its Q1 earnings with a total income of Rs 1,167.59 crore, compared to Rs 900.70 crore in the same period last year. The total revenue also rose to Rs 1,109.54 crore from Rs 810.01 crore year-over-year. The company also achieved a net profit of Rs 17.35 crore, a significant improvement from a loss of Rs 7.06 crore in the same period last year. The shares of the company closed at Rs 2,210.00, up by 5.17 per cent. In another earnings report, DB Corp Limited saw a rise in its total income to Rs 616.2 crore from Rs 573.6 crore year-over-year. The total revenue also surged to Rs 458.9 crore from Rs 446.99 crore YoY. The net profit for the quarter stood at Rs 117.8 crore, showing substantial growth from Rs 78.7 crore in the same period last year. The shares of the company at 3:26 pm IST were trading at Rs 364.70, down by 4.70 per cent.
In the automobile sector, Bajaj Auto released its quarterly result for the first quarter of the new fiscal year. The company recorded a 2.70 per cent increase in its net profit for the period, with a profit worth Rs 1,988.34 crore in Q1 FY25, compared to Rs 1,936.00 crore in the previous quarter.
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