Stock Market LIVE Updates: GIFT Nifty indicates a negative start; US, Asian markets down

#1 Profit declines 23.8% to Rs 48 crore Vs Rs 63 crore, YoY

#2 Revenue rises 0.1% to Rs 783 crore Vs Rs 782 crore, YoY

The pharma company signed a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company to commercialize Vonoprazan tablets in India. Vonoprazan is a novel, orally active potassium-competitive acid blocker (PCAB) used to treat reflux esophagitis and other acid peptic disorders.

#1 Delivered its strongest beat in 10 quarters in Q1 across revenue, margin & EPS

#2 FY 25 revenue guidance was raised to 3 percent to 4 percent YoY CC (from 1 percent to 3 percent)

#3 Deal momentum was strong at USD 4.1 billion TCV with net new of 57

#4 See beginning of an upcycle trend as growth recovers, BFSI inflects & ai deals scale up

Reliance Industries, Wipro, UltraTech Cement, Bharat Petroleum Corporation, JSW Steel, Union Bank of India, ICICI Lombard General Insurance Company, One 97 Communications (Paytm), Patanjali Foods, Aether Industries, Atul, BEML Land Assets, Blue Dart Express, CreditAccess Grameen, Fedbank Financial Services, Indian Hotels, JSW Energy, Jubilant Pharmova, Mahindra EPC Irrigation, Nippon Life India Asset Management, Oberoi Realty, Orissa Minerals Development Company, PVR Inox, Route Mobile, RPG Life Sciences, Supreme Petrochem, Stanley Lifestyles, Tejas Networks, Transformers and Rectifiers (India), and Vipul Organics will release their quarterly earnings on July 19.

Analysts will monitor user additions and ARPU growth in Reliance Industries’ telecom business, as well as footfalls and store additions in the retail segment….Read More

JSW Infrastructure on Thursday posted a nearly 8 per cent fall in consolidated net profit to Rs 296.55 crore during the June 2024 quarter, dragged by higher expenses.

It had clocked a net profit of Rs 322.20 crore for the April-June period of the preceding 2023-24 financial year, the company said in a regulatory filing.

The company’s total income rose to Rs 1,103.69 crore from Rs 918.24 crore in the year-ago period.

Its expenses jumped to Rs 712.05 crore against Rs 505.75 crore in the same quarter a year ago.

A meeting of the board of directors of SpiceJet will be held on July 23, 2024 (Tuesday), to consider and approve raising fresh capital through issue of eligible securities to qualified institutional buyers by way of qualified institutional placement.

Dalmia Bharat’s consolidated revenue from operations was down 0.2 per cent YoY at Rs 3,621 crore for the quarter ending June 30, 2024. It reported a net profit of Rs 3,627 crore in Q1FY24.

On July 19, the cement maker said its net profit increased 0.7 percent at Rs 145 crore in Q1FY225. This wa Rs 144 crore in the same period a year ago.

Volume for the reporting period increased 6.2 percent YoY to 7.4 million tons. Dalmia Bharat’s EBITDA also increased 9.2 percent YoY to Rs 669 crore.

EBITDA margin for the same period also increased 1.6 percent YoY to 18.5 percent in Q1FY25.

Tata Technologies has reported a net profit of Rs 162.03 crore for the June quarter of FY25, down 15.4 percent from the year-ago period.

Sequentially, the profit was marginally higher than Rs 157.24 crore in the March quarter, the Tata group company said in an after-market filing on July 18.

At Rs 1,268.97 crore the revenue was better than Rs 1,257.53 in the year-ago period but was down 2.46 percent over the March quarter.

India’s second-largest IT company Infosys revised its revenue guidance for the fiscal 2025 to 3-4 percent from 1-3 percent, above analyst estimates.

Analysts had anticipated Infosys to maintain its FY25 revenue growth guidance at 1-3 percent in constant currency (CC) terms.

The company had revised its annual revenue growth guidance five times in the last six quarters. The latest was in the March quarter when it slashed guidance to 1-3 percent.

In January, it lowered the full-year guidance to 1.5-2 percent for FY25.