In today’s market action, key stocks to watch include Divi’s Laboratories, which reported better-than-expected results, and JSW Steel, which has been chosen as the preferred bidder for new coal blocks. Biocon also gains attention as the US FDA has classified its Biocon Park site in Bengaluru as VAI, indicating a positive outlook for the facility.
Key gainers
- Divi’s Laboratories: The pharma company posted a strong performance with EBITDA at ₹716 crore, surpassing the consensus estimate of ₹670 crore.
- JSW Steel: Secured the position of preferred bidder for the Banai and Bhalumuda coal blocks in Mand-Raigarh, a development likely to support future production.
- LIC: Reported Q2 results ahead of street estimates, with a notable 47% YoY increase in Value of New Business (VNB).
- GE Vernova T&D: Showed a strong quarter with multi-quarter highs in revenue, EBITDA, and net profit.
- Premier Energies: Achieved a substantial revenue growth of 120% YoY, with margins rising by an impressive 1,070 basis points.
- Whirlpool: Posted a 13% YoY revenue increase, along with a margin boost of 60 basis points.
- Metropolis Health: Reported a 13% rise in revenue, with margins improving to 25.7% from 24.3% YoY.
- Fortis Health: Showed a 12% revenue increase, with margin expansion of 320 basis points YoY.
- GR Infra: Announced as the lowest bidder for BSNL’s Bharat Net Phase 3 project, worth ₹868 crore.
- ITI: Also the lowest bidder for three packages of BharatNet Phase 3, valued at ₹4,559 crore.
Stocks under pressure
- Asian Paints: Reported a weak Q2 as volumes declined by 0.5%, falling short of the expected 6-8% growth.
- Tata Motors: Although earnings came below estimates, both the company and Jaguar Land Rover (JLR) maintain a positive outlook.
- Aurobindo Pharma: While revenue was in line with expectations, the company missed targets on margins and profitability.
- Ola Electric: Narrowed losses; however, earnings fell short of expectations due to warranty provisions.
- Aarti Industries: Reported a weak Q2, prompting the company to lower its FY25 EBITDA guidance to ₹1,050 crore.
- Equitas Small Finance Bank: Showed weak return ratios for the second consecutive quarter as slippages continued to remain high.
- Satin Creditcare: Asset quality deterioration was evident, with gross NPAs rising to 3.5% from 2.73% QoQ.
- Advanced Enzymes: Saw a 4% decline in profit and an 18% YoY drop in EBITDA.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
