India Market Recap
Indian equity benchmarks, the Sensex and Nifty 50, declined by more than half a percent on Thursday amid broad-based selling, as persistently high crude oil prices and escalating geopolitical tensions weighed on investor sentiment. The BSE Sensex fell 460.30 points, or 0.62%, to close at 73,249.39, while the Nifty 50 declined 123.70 points, or 0.54%, to settle at 22,687.65. The Bank Nifty index also ended lower at 54,925.70, down 51.20 points, or 0.09%. Continued weakness in equities reflects caution over rising energy costs and geopolitical uncertainty. On the technical front, Nifty support is placed around 22,600–22,500, while resistance is seen in the 22,800–22,900 range.
US Market Recap
US equities ended mixed, with technology stocks facing sharp selling pressure. The Nasdaq Composite plunged 2.6% to close at 26,008.86, marking its worst session since June, while the S&P 500 declined 1.21% to settle at 7,663.43, recording its steepest daily fall since July. In contrast, the Dow Jones Industrial Average edged up 11.89 points, or 0.02%, to end at 52,867.98. The divergence highlighted the weakness in technology-heavy stocks compared with the relative resilience of the broader blue-chip index. Investor sentiment remained cautious amid concerns over elevated valuations, corporate developments and rising geopolitical risks.
Asian Market Update
Asian markets fell on Friday, led by South Korea, as concerns over the artificial intelligence trade weighed on global technology stocks. The Kospi declined 2.42% and the Kosdaq dropped 2.6%. Japan's Nikkei 225 fell 0.49%, while the broader Topix lost 0.86%. Australia's S&P/ASX 200 slipped 0.21%.
Commodity Check
Crude oil prices surged after reports by The New York Times, citing sources, indicated that the US and Israel were planning renewed strikes against Iran following next month’s US midterm elections. US President Donald Trump also reportedly told journalists on Wednesday that Washington was not negotiating with Tehran and that developments would occur “fairly soon,” adding to market uncertainty. Brent crude futures, the international benchmark, rose 4% to settle at $113.17 per barrel, while West Texas Intermediate (WTI) crude advanced 2.39% to $99.47 per barrel. The sharp rise reflects renewed concerns over potential supply disruptions amid escalating geopolitical tensions. For India, sustained high crude prices could increase the import bill, intensify inflationary pressures, put pressure on the rupee and weigh on corporate margins and equity-market sentiment.
Stocks In News
- eMudhra: To withdraw from global SSL/TLS certificate business after security key compromise incident; says no data breach occurred and core operations remain unaffected.
- Petronet LNG: To form JV with Gruner Renewable for CBG plants across India; plans to set up 10 CBG plants of 18 MT each with investment of Rs 1,200 crore.
- Jindal Stainless: Board approves amalgamation of Chromeni Steels, Rabirun Vinimay, JSL Super and Jindal United into the company.
- Augmont Enterprises: Fire incident due to short circuit at Jaipur arm; casualties/injuries reported; company extending support to affected persons.
- NLC India: Signs MoU with IPICOL for coal gasification project, beach sand mineral processing unit and 3,200 MW ultra super-critical thermal power plant in Odisha. To set up beach sand mineral processing unit in Odisha with investment of Rs 2,000 crore.
- HFCL: Incorporates wholly-owned subsidiary HFCL Connectivity Systems.
- Redington: Gulf arm signs strategic partnership with AWS to accelerate AI adoption.
- Saatvik Green Energy: Launches TOPCon 3.0 dual-glass bifacial solar module; module delivers output of up to 745W.
- BlueStone Jewellery: Approves fundraising of up to Rs 300 crore via NCDs.
- Allied Blenders & Distillers: DRI visits Mumbai office and Sambhajinagar manufacturing unit; says no impact on operations or financials. Commences operations at malt distillery in Telangana; unit has capacity of over 4.4 million barrels per annum.
- NRB Bearing: Approves sale of 1.27% stake in Amplus Ampere to Apcotex Industries for Rs 72 lakh and 1.30% stake to Deepak Novochem Technologies for Rs 73.6 lakh.
Earnings
- Revenue up 12.2% to Rs 1,706 crore vs Rs 1,520 crore
- EBITDA up 1.7% to Rs 474 crore vs Rs 466.2 crore
- EBITDA margin at 27.8% vs 30.7%
- Net profit rose 4.3% to Rs 342 crore vs Rs 327.5 crore
- Toothpaste volume up in high single digits
- Revenue up 36.1% to Rs 7,571 crore vs Rs 5,561 crore
- EBITDA loss at Rs 770 crore vs loss of Rs 798 crore
- Net loss at Rs 922 crore vs loss of Rs 1,092 crore
- Other income at Rs 212 crore vs Rs 59 crore
- Revenue up 7.7% to Rs 2,235 crore vs Rs 2,076 crore
- EBIT up 21.6% to Rs 228.3 crore vs Rs 187.7 crore
- EBIT margin at 10.21% vs 9.04%
- Net profit up 16.6% to Rs 121 crore vs Rs 104 crore
- Revenue down 4.0% to Rs 1.34 lakh crore vs Rs 1.40 lakh crore
- EBITDA at Rs 9,074 crore vs EBITDA loss of Rs 16,141 crore
- Net profit at Rs 3,483 crore vs loss of Rs 11,526 crore
- Revenue up 11.0% to Rs 2,633 crore vs Rs 2,372 crore
- EBITDA up 5.1% to Rs 373.9 crore vs Rs 355.6 crore
- EBITDA margin at 14.2% vs 15.0%
- Net profit up 14.0% to Rs 244 crore vs Rs 214 crore
- Total income up 26.2% to Rs 1,905 crore vs Rs 1,509 crore
- Net profit at Rs 502 crore vs Rs 129 crore
- AUM grew 19.5% YoY from 25,903 crore to INR 30,946 crore
- Disbursements increased by 19.4% YoY from INR 5,322 crore to INR 6,355 crore
- Raised FY27 Guidance To ROA: 5.2-5.8% and ROE: 21-24%
- Revenue up 19.5% to Rs 2,898 crore vs Rs 2,428 crore
- EBITDA up 1.8% to Rs 332 crore vs Rs 326 crore
- EBITDA margin at 11.5% vs 13.4%
- Net profit up 5.5% to Rs 116 crore vs Rs 110 crore
- Revenue up 3.5% to Rs 2,032 crore vs Rs 1,963 crore
- EBIT up 22% to Rs 379.5 crore vs Rs 309.9 crore
- EBIT margin at 18.7% vs 15.8%
- Net profit up 30.9% to Rs 284 crore vs Rs 217 crore
- Revenue up 45.0% to Rs 745 crore vs Rs 514 crore
- EBITDA at Rs 95 crore vs EBITDA loss of Rs 139 crore
- Net loss at Rs 4.4 crore vs loss of Rs 52.1 crore
- Revenue up 20.9% to Rs 578 crore vs Rs 478 crore
- EBITDA up 7.3% to Rs 88 crore vs Rs 82 crore
- EBITDA margin at 15.2% vs 17.2%
- Net profit down 15.5% to Rs 33.9 crore vs Rs 40.1 crore
- Approved a capex of Rs.450 crores to increase manufacturing capacities
- Revenue up 13.5% to Rs 2,790 crore vs Rs 2,458 crore
- EBITDA up 10.9% to Rs 408 crore vs Rs 368 crore
- EBITDA margin at 14.6% vs 15.0%
- Net profit up 81.0% to Rs 65 crore vs Rs 36 crore