Equity benchmark indices, the BSE Sensex and NSE Nifty50 closed in the negative territory on Thursday following the Reserve Bank of India’s decision to keep the repo rate unchanged at 6.5% for the ninth consecutive meeting.
The BSE Sensex declined by 581.79 points, or 0.73%, closing at 78,886.22, while the NSE Nifty50 dropped 180.5 points, or 0.74%, closing in the red at 24,117.
| Top 5 Gainers in Today’s Trade: | Top 5 Losers in Today’s Trade: |
| Honasa Consumer Ltd. (8.9%) | Lemon Tree Hotels Ltd. (9.5%) |
| Route Mobile Ltd. (8.3%) | Balaji Amines Ltd. (7%) |
| Triveni Turbine Ltd. (7.8%) | Chemplast Sanmar Ltd. (6.6%) |
| KFIN Technologies Ltd. (7.8%) | AstraZeneca Pharma India Ltd (6.6%) |
| DCM Shriram Ltd. (5.5%) | Caplin Point Laboratories Ltd (6.3%) |
RBI interest rate remains unchanged:
On August 8, Reserve Bank of India (RBI) Governor Shaktikanta Das announced the third bi-monthly Monetary Policy for FY25. He noted that RBI policy remains and market expectations remain aligned. The RBI has maintained the benchmark interest rate unchanged at 6.5%.
In addition, the RBI has adjusted its economic forecasts: GDP growth estimates for Q1FY25 have been lowered to 7.1% from the previous 7.3%, while the CPI inflation forecast for the June FY25 quarter has been increased to 4.4% from 3.8%.
The next RBI Monetary Policy Committee (MPC) meeting is scheduled on October 7-9.
Earnings Call:
KPT Industries Ltd( 20% Upper circuit)
Net Profits- 12% QoQ | 55% YoY
Revenue from operations – 17% QoQ | 21% YoY
ITD Cementation Limited (Jumps 16%)
Net profit 12% QoQ | 92% YoY
Revenue from operations 6% QoQ | 30% YoY
KPI Green Energy Limited (5% Upper Circuit)
Net profit 54% QoQ | 99%YoY
Revenue from operations 20% QoQ | 84% YoY
Gujarat Pipavav Port Limited (Jumps 7%)
Net profit 67% QoQ | 62%YoY
Revenue from operations – 2% QoQ | 15% YoY
Authum Investment & Infrastructure Ltd (hit a new 52-week high)
Net profit – (27)% QoQ | 3212% YoY
Revenue from operations – 60% QoQ | 2214% YoY
Aadhar Housing Finance Limited (jumps 4.6%)
Net profit – (1%) QoQ | 37% YoY
Revenue from operations – 3% QoQ | 20.2% YoY
Fund Raise:
RMC Switchgears Limited hit a 5% upper circuit after it announced the plans to raise up to ₹150.1 million through the issuance of equity shares. The company’s Board approved the issuance of up to 218,500 equity shares of face value ₹10 each at a price of ₹687 apiece on a preferential basis.
Orders & Acquisition:
Goldiam International Limited, an integrated manufacturer and supplier of fine diamond jewellery, jumped 5% after securing an export order worth ₹500 million ($5.96 million) from a US-based entity.
TVS Supply Chain Solutions Ltd gained 3% followed by the company’s announcement of securing a three-year contract with JCB for managing warehousing and logistics at their Vadodara, Gujarat facility.
MTAR Technologies Ltd jumped 3% after receiving a work order for the receipt of export orders worth US$16.73 Million in the Clean Energy Sector – Fuel Cells Vertical from Bloom Energy Corporation.
Nazara Technologies Limited surged 5.2% after acquiring a 100% stake in UK-based Fusebox Games Limited for ₹228 crore (~US$27.2 million) in an all-cash deal.
Stock Recommendations:
Motilal Oswal, one of the well-known brokerages in India, gave a ‘Buy’ call on Syrma SGS Technology Ltd. with a target price of ₹540 apiece, indicating a potential upside of 33% from Thursday’s closing price of ₹404.50 per share.
Bulk Deal:
Sapphire Foods India Ltd has fallen 2% after the promoter of the company offloaded its entire 23,90,503 equity shares representing 3.75% of the company, via a Bulk deal.
Orient Ceratech Limited jumped 7.5% after a foreign investor Albula Investment Fund Ltd. bought 32.64 lakh equity shares worth ₹15.6 crore, at an average price of ₹48 per share.
Nephro Care India Limited jumped 5% after a foreign investor Aegis Investment Fund PCC bought 1.31 lakh equity shares worth ₹3.77 crore, at an average price of ₹287.85 per share.
ADF Foods Limited jumped 3% after a foreign investor Dovetail Global Fund PCC – Marcellus India Fund bought 38.45 lakh shares worth ₹84.6 crore, at an average price of ₹220 per share.
Written by:- Shivani Singh
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