BPCL, NTPC, Tata Motors, Power Grid Corp, and Asian Paints are the top gainers on NSE Nifty 50 index whereas the top laggards include LTIMindtree, Cipla, SBI Life Insurance, Grasim, and ITC.

Suzlon Energy has received a warning letter from the National Stock Exchange for not disclosing an analyst or institutional investor meeting details on exchanges two days before having it. 

According to an exchange filing, the company conducted an analyst meeting on November 06, 2023, the disclosure for which was made on the same day. However, the provision is that the company needs to disclose the same two days ahead of having such kinds of meetings or events. “As per Regulation 30 read with sub-para 15(a) of Para A Part A of Schedule III of SEBI LODR, the listed entity shall inform schedule of analysts or institutional investors meet at least two working days in advance (excluding the date of intimation and date of meet),” read the filing.

Read More: Suzlon Energy receives warning from NSE; shares up for 7th straight day

Force Motors reported a consolidated net profit of Rs 181.82 crore for the quarter ended June 2024, up from Rs 107.25 crore in the corresponding quarter last year. Following this strong performance, the stock jumped 7.42% on the NSE, trading at Rs 9,414.30.

OLA Electric IPO is all set to kickstart on August 02. The company set the IPO price band at Rs 72-76 per share. However, investors should be aware of the risks involved in an IPO before applying for it. Here are key risks outlined by OLA Electric in the papers filed with SEBI.

Read More: OLA Electric IPO: 7 risks to know before subscribing to Rs 6146 crore issue

Citi has issued a buy call on Hindustan Petroleum Corporation Ltd (HPCL) with a target price of Rs 420. The report notes that Q1 EBITDA came in well below estimates. The gross refining margin (GRM) declined quarter-over-quarter from $7 per barrel to $5 per barrel, slightly exceeding Citi’s estimate of $4.5 per barrel. 

The shortfall was primarily due to an LPG under-recovery of Rs 250 crore. Net income for the quarter was Rs 360 crore, down 87% quarter-over-quarter, and significantly below the estimated Rs 890 crore. 

Citi highlights that the government has yet to announce any budgetary compensation for LPG, though it could be announced later in the year. Such compensation would help oil marketing companies reverse these under-recoveries.

Shares of state-owned Hindustan Petroleum Corporation (HPCL) rose on Tuesday, July 30, despite the company reporting a significant decline in net profit due to slumping refinery margins and reduced marketing margins from fuel price cuts. 

The stock of HPCL increased by 4.09% to Rs 396.65 on the NSE and by 4.12% to Rs 396.90 on the BSE in early trade, as analysts anticipate potential upside based on strong physical performance.

Also Read: HPCL shares jump 4% despite Q1 profit sliding 90%; Find out what driving the rally

Commenting on the Dollar Rupee outlook Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas we expect Rupee to trade with a slight negative bias on positive US Dollar ahead of FOMC meeting and trimming expectations of a rate cut by the US Federal Reserve. Month-end Dollar demand from importers and OMCs may further pressurise the Rupee.

Choudhary also added however, a positive tone in the domestic markets and weak crude oil prices may support the Rupee at lower levels. Investors may remain cautious ahead of FOMC, BoE and BoJ meeting this week. USDINR spot price is expected to trade in a range of Rs 83.50 to Rs 84.

CarTrade Tech reported a consolidated net profit of Rs 22.89 crore for the June quarter, up from Rs 13.51 crore in the same period last year. Following this announcement, shares surged 5.41% on the NSE, trading at Rs 936.

Commenting on the top sectors to watch out this week Antu Thomas, Senior Research Analyst, Geojit Financial Services said that The broad market valuations are currently high, but sectors with strong growth prospects, such as manufacturing, electronics, IT, renewables, healthcare, e-commerce, infra, agriculture, and consumption, remain attractive. Some areas are expensive, so it is crucial to focus on stock fundamentals, avoid overvalued stocks, and adopt an accumulation strategy. Targeting specific stocks and sectors is advisable.

Thomas also added that To achieve better returns and ensure safety, consider rotating out of recent outperformers and shifting to value sectors, as overall market conditions are expected to improve in the coming years. Further, the improvements in rural areas, agriculture, and government expenditure are anticipated to benefit sectors connected to the domestic economy, such as staples, FMCG, fertilizers, telecom, cement, pharma, and consumer services.

LT Foods stock traded at Rs 287.50 on the NSE, up 0.51%, after the company announced that the Supreme Court has upheld the Madhya Pradesh High Court’s order in favor of its material subsidiary, Daawat Foods Ltd. The case pertains to a 2014 fire incident at Daawat Foods’ plant in Mandideep, Madhya Pradesh. Following the incident, Daawat Foods sought compensation of ₹189.72 crore from Oriental Insurance Company, which was initially repudiated based on a report from the insurer’s surveyor. Daawat Foods subsequently filed a commercial suit against Oriental Insurance Company on June 26, 2016.

Jefferies has issued a buy call on ACC Cement with a target price of Rs 3,045. The report notes that Q1 earnings data showed EBITDA in line with expectations, and volumes grew 9% year-over-year, beating forecasts. However, realizations were down 3% quarter-over-quarter, compared to the estimated 2-2.5% decline. 

Profit after tax (PAT) stood at Rs 360 crore, lower than the estimated Rs 380 crore and down 22% year-over-year due to higher depreciation. The company’s cash position declined due to opportunistic purchases of input materials (raw materials and fuel) and capital expenditures.

Also Read: Brokerages bullish on ACC on strong FY25 capex push- Here are the top views

Power Grid Corp is a play on growing investment in the power sector. The company has set an ambitious capex target of Rs 2,07,500 crore until FY32 and the raised capex and capitalization target from FY25. “We believe Power Grid Corp will hold a huge market share in upcoming TBCB projects,” said Elara Securities in a research note. “We raise earnings estimates, factoring in increased capitalization targets and upcoming TBCB projects – Maintain Accumulate. We introduce FY27E earnings and raise SoTP-TP to Rs 384 from Rs 344.”

Nifty FMCG was down 0.65% on July 30.

Courtesy: NSE

Shares of Tata Motors rose almost 5% to hit a new all-time high of Rs 1,179. The stock is up for the fifth straight session. The upper band for the stock is placed at Rs 1,236.40. The company’s total market capitalisation rose to Rs 3.87 crore.

Except for Punjab National Bank, all the constituents of the sectoral index were trading in the green.

Courtesy: NSE

Akums Drugs and Pharmaceuticals IPO opened to investors on July 30 and wants to raise an amount totalling to Rs 1,856.74. The company will close the issue for subscription on August 01. The company will be raising Rs 1,856.74 crore from investors through fresh issue as well as an offer for sale. The company will collect Rs 680 crore through selling 10 million fresh shares. Meanwhile, the promoters and other selling shareholders will pocket Rs 1,176.74 crore by selling 1.73 crore shares. 

The stock of JSW Energy rose more than 5% to an intraday high of Rs 728.50 after its arm JSW Neo Energy secured a 192-MW hybrid power project, including an additional 96 MW under the greenshoe option from Gujarat Urja Vikas Nigam.

Tata Motors, NTPC, Power Grid, and Asian Paints were the top gainers in the BSE Sensex on July 30.

Courtesy: BSE

Shares of CE Info Systems, parent firm of MapMyIndia, rose as high as 6.1% to Rs 2,502 after it sued OLA Electric for copying its data, ahead of OLA’s IPO opening. CE Info Systems had provided its map services to Ola and alleged that OLA copied its proprietary data by co-mingling and reverse-engineering the licensed product.

Nykaa, Suzlon Energy, Hindustan Petroleum, JSW Energy, and Torrent Power were the top midcap gainers. Meanwhile, Prestige Estate Projects, Indian Hotels, LIC Housing Finance, Policy Bazaar, and Macrotech Developers were the major midcap losers on July 30.

The NSE Nifty 50 was up 100 points or 0.40% at 24,936, while the BSE Sensex was up 305 points or 0.38% at 81,661.

ideaForge Technologies, a leading drone manufacturer, saw its shares plummet nearly 14% in early morning trade to Rs 740 apiece following disappointing results for the quarter ending June. The company reported declines in both revenue and profit, with revenue from operations dropping 11.2% year-over-year to Rs 86 crore. EBITDA fell 73.6% to Rs 8.4 crore, and profit after tax decreased by 93.8% to Rs 1.17 crore from Rs 18.87 crore in the same period last year, negatively impacting investor sentiment.

GE Power India Ltd has received purchase orders totaling Rs 3.51 crore from NTPC Ltd and SNJ Distillers Private Ltd. GE Power’s stock traded at Rs 517.30 on the NSE, down by 0.38%. In contrast, NTPC’s stock surged 3.91% on the NSE, reaching Rs 409.30.

L&T shares traded 0.44% higher at Rs 3,791.70 on the NSE after the company issued a clarification regarding its real estate business. L&T Parel Project Private Limited, a wholly owned subsidiary, has signed a Memorandum of Agreement with Valor Estate Limited to develop a real estate project in Mumbai. The definitive agreement will be finalized pending satisfactory completion of due diligence and fulfillment of conditions precedent.

One 97 Communications Limited, the owner of the Paytm brand, has announced the launch of India’s first ‘Paytm NFC Card Soundbox.’ Following the announcement, One 97 Communications’ stock rose 2.71% on the NSE, trading at ₹507.45.

Oberoi Realty’s stock traded at Rs 1,808 on the NSE, up 0.79%. The company has entered into a development agreement for a land parcel measuring approximately 2,576 square meters, located on Carter Road, Bandra (West), Mumbai.

Nifty Midcap 5o trades higher at 16,566 up by 67% led by Nykaa, Suzlon Energy, JSW Energy, Yes Bank, Mazagon Docks, Oil India, Tata Communication, Laurus Lab, Sun TV, and Hindustan Petro are the top gainers on Nifty Midcap 50.

According to a Nomura report on Colgate, the firm has issued a sell call with a target price of Rs 2,800. The report highlights that Q1 was an all-round beat, with volume growth of 6-7% versus the estimated 2%.

Additionally, strong gross profit margin (GPM) and operating profit margin (OPM) expansion continue to drive 22% EBITDA growth. Nomura has increased its EPS estimates for FY25/26/27 by 4.0%/2.8%/1.6% to account for the Q1 performance.

However, the report suggests that the risk-reward is unfavorable as Colgate is entering a moderate EPS growth phase.

All the constituents of Nifty Oil & Gas were trading higher on July 30. BPCL, IOC, and ONGC were the top three contributors to the sectoral index.

Courtesy: NSE