Market Highlights, July 24: Post Budget jitters, Bajaj twins drag Sensex 280 pts, Nifty below 24,450

Stock Market Highlights on Wednesday, July 24: Selling in Bajaj Finance, Axis Bank, Bajaj Finserv, HUL, Nestle India, Adani Ports, SBI, Kotak Bank, and IndusInd Bank weighed on the frontline indices

2:17 PM

ALERT:: Petronet LNG Q1 net jumps 45%; stock up 2%

Petronet LNG today posted 44.5 per cent YoY growth in net profit at Rs 1,141.58 crore for Q1FY25 as against Rs 789.85 crore in Q1FY24. Total income rose by 15.5 per cent YoY to Rs 13,633.26 crore from Rs 11,802.79 crore.

2:09 PM

Schaeffler India zooms 7% on robust June quarter show; topline grows 15%

The uptick in stock price came after the company posted a strong set of second quarter of calendar year 2024 (Q2CY24) results. READ MORE

2:01 PM

ALERT:: Welspun Living Q1 net rises 15%; stock up 3%

Welspun Living today reported 14.8 per cent YoY growth in net profit at Rs 185.50 crore for Q1FY25 as against Rs 161.60 crore in Q1FY24. Total income increased by 16.9 per cent YoY to Rs 2,588.50 crore from Rs 2,214.90 crore. The company's board also approved buyback 1.26 crore equity shares at Rs 220 per share amounting to Rs 278.44 crore.

1:48 PM

Bajaj Finance stock falls 3% as analysts see limited upside post Q1FY25

Bajaj Finance, analysts said, may face net interest margin pressure in Q2FY25 which may limit upside in stock price. READ MORE

1:37 PM

ALERT:: Rane (Madras) Q1 net soars 154%; stock zooms 9%

Rane (Madras) today reported 154.2 per cent surge in Q1 net profit to Rs 7.55 crore for the quarter ended June 2024 as against Rs 2.97 crore in Q1FY24. Total income, however, was down 1.8 per cent year-on-year (YoY) at Rs 522.31 crore from Rs 532.11 crore.

1:26 PM

Budget 2024: Customs duty hike to increase costs for 4G, 5G network rollout

Union Budget 2024: The increase in basic customs duty on printed circuit board assemblies from 10% to 15% can help create a robust telecom equipment manufacturing ecosystem in India. READ MORE

1:18 PM

ALERT:: KPIT Tech Q1 net jumps 52%; stock gains 4%

KPIT Technologies today reported 51.9 per cent surge in Q1 consolidated net at Rs 204.16 crore for the quarter ended June 2024 when compared with Rs 134.44 crore in the corresponding quarter a year ago. Revenue from operations grew by 24.3 per cent year-on-year (YoY) to Rs 1,364.63 crore from Rs 1,097.62 crore.

1:07 PM

IOL Chemicals zooms 5% on drug nod from European regulator: details here

IOL Chemicals and Pharmaceuticals stock surged up to 4.59 per cent at Rs 415.15 per share on the BSE in Wednesday’s intraday trade. This came after the company on Tuesday informed the exchanges on receiving a certificate of suitability from the European Directorate for the Quality of Medicines and Health Care (EDQM) for its hypertension drug. READ MORE

12:55 PM

ICICI Prudential stock soars 8%, hits over 2-year high on healthy Q1 results

The company reported a healthy Q1FY25 performance, driven by a strong 34.4% APE growth and VNB margin at 24% resulting in a slight miss of around 1% on VNB to Rs 470 crore, analysts said. READ MORE

12:42 PM

Torrent Pharma tanks 4% post Q1FY25 results; analysts update target prices

This came despite the Indian drugmaker delivering a strong April-June quarter for the financial year 2024-25 (Q1FY25). However, some analysts have cut the target price of the company considering its significant run up in the last three months. READ MORE

12:33 PM

ALERT:: Sensex at day's low, down nearly 600 pts

12:25 PM

Here's why Bajel Projects stock rallied 10% on July 24; check details here

The stock price surged after the company announced that it has secured an order worth Rs 586.28 crore. READ MORE

Sensex, BSE, stock markets

12:14 PM

Budget 2024 is growth oriented, addresses right sectors: Vikas Khemani

Union Budget 2024 analysis: The government has laid out a clear vision for 'Viksit Bharat' by addressing key areas - agricultural reforms, manufacturing push and employment generation among others. READ MORE

11:44 AM

United Spirits soars 7%; market cap touches Rs 1 trn on strong Q1 results

Shares of United Spirits (USL), one of the leading beverage alcohol companies in India and a subsidiary of global leader Diageo plc, hit a record high of Rs 1,416.85, as they soared 7 per cent on the BSE in Wednesday’s intra-day trade in an otherwise weak market, after reporting a strong operational performance in June 2024 quarter (Q1FY25). READ MORE

11:29 AM

Goldman Sachs, Morgan Stanley, UBS, CLSA: Budget 2024 fine print decoded

Most brokerages have given a thumbs up to the Budget  2024 proposals, except for the sweeping changes in the capital gains tax regime, which they feel can set a cat among the pigeons in the equity and the real estate asset classes. READ MORE