Gainers & Losers:

Hero MotoCorp (up 1.84%), Axis Bank (up 1.62%), Infosys (up 1.57%), JSW Steel (up 1.34%) and HDFC Bank (up 1.26%) were major Nifty gainers.

NTPC (down 2.45%), Adani Ports and Special Economic Zone (down 2.44%), Adani Enterprises (down 2.31%), Apollo Hospitals Enterprise (down 1.90%) and Dr Reddy’s Laboratories (down 1.51%) were major Nifty losers.

Stocks in Spotlight:

Bajaj Consumer Care added 1.71%. The comapanys consolidated net profit declined 19.69% to Rs 37.12 crore in Q1 FY25 as compared with Rs 46.22 crore in Q1 FY24. Revenue from operations slipped 8.97% YoY to Rs 245.93 crore during the quarter.

Jubilant Foodworks surged 8.61% after the companys consolidated net profit surged to Rs 60.80 crore in Q1 FY25 as compared with Rs 28.91 crore in Q1 FY24. Revenue from operations jumped 44.85% YoY to Rs 1,933.06 crore during the quarter.

Siemens rose 1.08% after the companys standalone net profit jumped 25.23% to Rs 530.60 crore in June 2024 quarter as against Rs 423.70 crore reported in the same period last year. Total revenue from operations increased 6.97% year on year (YoY) to Rs 4,714.20 crore during the quarter ended 30 June 2024.

Honasa Consumer (Mamaearth) fell 4.16%. The company reported a consolidated net profit of Rs 40.25 crore in Q1 FY25, up 62.86% as against Rs 24.72 crore recorded in Q1 FY24. Revenue from operations jumped 19.28% to Rs 554.06 crore in Q1 FY25 as against Rs 464.49 crore recorded in the corresponding quarter last year.

Voltas soared 10.42% after the company reported consolidated net profit of Rs 334.23 crore in Q1 FY25, significantly higher from Rs 129.29 crore in Q1 FY24. Total income for the quarter ended 30 June 2024 increased 45.82% year on year (YoY) to Rs 5,001.27 crore.

Inox Wind zoomed 16.90% after the company reported a consolidated net profit (from continuing operations) of Rs 47.17 crore in Q1 FY25 as against a net loss of Rs 64.88 crore posted in Q1 FY24. Revenue from operations surged 83.18% year on year to Rs 638.81 crore in the quarter ended 30 June 2024.

Bharat Dynamics slipped 6.79% after the missiles makers net profit dropped 82.74% to Rs 7.22 crore in Q1 FY25 as against Rs 41.82 crore recorded in Q1 FY24. Revenue from operations stood at Rs 191.17 crore in the June 2024 quarter, down 35.79% from Rs 297.72 crore reported in same quarter previous fiscal.

Global Markets:

European and Asian stocks traded higher on Monday, building on last week’s rally as investor optimism grows over the potential for a softer U.S. economic landing. With a series of crucial inflation reports due this week, market focus is shifting towards monetary policy implications.

Chinese equities lagged behind regional peers, continuing to grapple with concerns about a domestic economic slowdown. A slew of quarterly earnings reports will also be closely watched in the coming days. Persistent worries about China’s faltering economic recovery, particularly in light of recent weak data, continued to weigh on sentiment.

Japan’s market was closed for a holiday, resulting in lower trading volumes in Asia. However, Nikkei futures indicated a positive opening.

U.S. stocks rebounded on Friday, erasing most of the weeks losses after a sharp sell-off on Monday. The S&P 500 climbed 0.47%, the Nasdaq Composite gained 0.51%, and the Dow Jones Industrial Average added 0.13%.

Investor focus this week is on the U.S. Consumer Price Index (CPI) data, due out on Wednesday. The report will provide crucial clues about the Federal Reserves potential timeline for interest rate cuts. Market sentiment is divided between a 25 and 50 basis point reduction in September.

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First Published: Aug 12 2024 | 1:32 PM IST