Informist, Thursday, Jul. 31, 2025 Tel +91 (22) 6985-4000

Equity Alert: Indus Towers plunges 6?spite beating Q1 PAT estimate

MUMBAI--1135 IST--Shares of Indus Towers fell nearly 6% to an intraday low of INR 361.55 after the company posted weak June quarter results across multiple parameters, despite its bottom line beating analysts' expectations. As of 1121 IST, the stock traded 4% lower at INR 368.60.

The company's earnings before interest, tax, depreciation, and amortisation came in at INR 43.90 billion for the quarter, down 3.4% on year. The EBITDA margin also declined 240 basis points on year to 54.5%. While Indus Towers' consolidated net profit of INR 17.37 billion for the quarter came in above the consensus of INR 16.67 billion, it fell over 3% sequentially. Its monthly sharing revenue per tower fell over 2% on quarter to INR 67,036.

At 1121 IST, over 6 million shares of the company were traded on the NSE, sharply higher than the 802,176 shares traded till the same time Wednesday. Investors will now eye the analyst conference call of the company scheduled for 1430 IST. (Akash Mandal)

Equity Alert: HUL rises to 6-mo high; Apr-Jun net profit beats Street's view

MUMBAI--1103 IST--Shares of Hindustan Unilever rose 4% to a near six-month high of INR 2,536.90 after its bottom line for the June quarter saw robust growth on year and came in above the Street's expectations. At 1059 IST, the stock recovered from its early rose and traded 3.7% higher at INR 2,526.50. The stock is currently the top gainer in the Nifty 50.

The company reported a net profit of INR 27.32 billion for the June quarter, up 8% on year and higher than analysts' estimates of INR 25.52 billion. The fast-moving consumer goods giant managed to register an eight-quarter high revenue growth to INR 157.47 billion during the reporting quarter, slightly lower than the estimate of INR 159.1 billion. While the earnings before interest, tax, depreciation, and amortisation margin fell 120 basis points on year and gross margin fell 190 basis points in the June quarter, the company expects gross margin to improve in the next quarter.

At 1059 IST, 2.50 million shares of the company were traded on the NSE, sharply higher than the 335,847 shares traded till the same time Wednesday. Of the 22 brokerage reports on the company available with Informist, 16 have a 'buy' or equivalent rating on the stock, four have a 'hold' or equivalent rating while two have a 'sell' or equivalent rating. (Akash Mandal)

Equity Alert: Brigade Hotel lists at INR 81.1, discount of 10% to issue price

MUMBAI--1040 IST--Brigade Hotel Ventures listed at INR 81.10 at a discount of 10% to its issue price of INR 90. At 1028, the company's shares were at INR 84.34, down 5.7% from its issue price, with more than 10 million shares having changed hands.

The company's initial public offering was subscribed 4.48 times as of the final day. The company raised INR 3.25 billion by issuing 36.08 million shares to anchor investors ahead of the public issue.

Brigade Hotel develops and owns hotels in key south Indian cities. Its portfolio includes nine operational hotels in Bengaluru, Chennai, Kochi, Mysuru, and GIFT City in Gandhinagar. Global hospitality brands, including Marriott, Accor, and InterContinental Hotels Group, manage these properties. (Gopika Balasubramanium)

Equity Alert: Auto parts makers fall as high US tariff weighs on sector

MUMBAI--1015 IST--Shares of automobile ancillary companies such as Bharat Forge, Samvardhana Motherson International and Balkrishna Industries were down 1-3%, weighed by higher-than-expected tariff imposed by the US. Many other automakers were also in the red as they have some exposure to the US market. At 1001 IST, the Nifty Auto was 0.8% lower at 23562.05 points.

"Domestic forging companies (Bharat Forge and Ramkrishna Forgings) have large exposure to US given their components find application in US – Class 8 trucks...this along with transmission component companies such as Sona BLW Precision Forgings (43% of revenues) will be affected by this tariff news," ICICI Direct Research said in a report. "...the present news of blanket reciprocal tariff is incrementally negative for other auto component players such as Balkrishna Industries (US share of revenues pegged at 17% for Q1FY26)," the brokerage added.

The tariffs dent the export outlook for most players counting on exports to outgrow peers amid slowing sales in the domestic market, the brokerage said. "This development could also alter global trade with possibility of auto components manufactured by other countries being directed towards India," it added. (Akash Mandal)

Equity Alert: Mkt opens sharply lower as US tariff weighs; most sectors fall

MUMBAI--0937 IST--Benchmark equity indices started the session sharply lower as higher-than-expected tariff imposed by the US weighed on the market. Even as negotiations between India and US have dragged on for weeks, the US imposed a 25% tariff on the country, only slightly lower than the 26% that US President Donald Trump had announced earlier.

At 0931 IST, the Nifty 50 was at 24710.15 points, down 144.90 points or 0.6%, and the BSE Sensex was at 80982.70 points, down 499.16 points or 0.6%. The Nifty 50 recovered a bit after falling to 24600 point levels during pre-open, with most stocks in the red. Heavyweights such as Reliance Industries, State Bank of India, and Larsen & Toubro were down around 1?ch.

Tata Motors was down 3% in early trade and was the worst hit in the Nifty 50. While Nuvama Institutional Equities saw the company's acquisition of commercial vehicles maker Iveco Group as a positive, it flagged the possibility of a sales down-cycle in Europe and US markets as a big risk for the company.

Most sectoral indices were in the red, with the Nifty Oil & Gas, Nifty Consumer Durables, Nifty Auto and Nifty Infrastructure being the worst hit. All broader market indices were also sharply lower.

Among other stocks, HEG was up over 8?ter the company's net profit surged manifold on year in the June quarter. GE Vernova T&D India hit the 5% upper band for the second straight session after strong earnings growth in the June quarter. Maharashtra Seamless rose 3?ter its bottom line for the quarter rose 78% on year.

On the other hand, Hitachi Energy India was down over 6?ter Emkay Global Financial Services downgraded it to 'sell' from 'buy' due to high valuations. Welspun Living was down nearly 6% and was among the worst hit in the Nifty 500 after its profit and sales both fell on year in the June quarter. Waaree Energies, which has significant exposure to the US market, was down nearly 5%. Textile makers such as Vardhman Textiles and KPR Mills were also down due to US tariffs. "We believe tariff rate of 25% if implemented on India (from Aug, 1st 2025) will lead to downtrading, lower realisation due to sharing of tariff with suppliers and impact profitability of the textile companies in the near term," ICICI Direct Research said on the textile sector. (Akash Mandal)

Equity Alert: Asian indices barring Japan dn; US levies 15% duty on S Korea

MUMBAI--0830 IST--Barring indices in Japan, most Asian equity markets opened lower on Thursday amid US President Donald Trump levying 15% import duty on South Korean goods. Investors await policy decision from the Bank of Japan with the Japanese central bank widely expected to hold short-term interest rates at 0.5% for the fourth consecutive time, when its two-day policy meeting concludes later in the day.

At 0825 IST, Japan's Nikkei 225 and Topix were 0.7-0.9% higher. Pharmaceutical and machinery stocks fared better, Dow Jones reported. Astellas Pharma traded 6% higher and Komatsu was 1.6% up.

China's CSI 300 and Hong Kong's Hang Seng were down around 1.3?ch taking some cues from US indices and disappointing manufacturing data. China's official manufacturing purchasing managers' index fell to 49.3 in July from 49.7 in June, South China Morning Post reported citing data from National Bureau of Statistics.

Among other indices, South Korea's Kospi was a tad lower in early trade. This was after Trump announced a 15% tariff on South Korean goods including automobiles, which attracted 25% tariff earlier. South Korea agreed to invest $350 billion in the US in projects selected by the president and to purchase natural gas and other energy products worth $100 billion.

Among other indices, FTSE Singapore was down 0.6%, falling for the fifth straight session, after a 14-day winning streak. Australia's S&P ASX 200 was also down 0.2%. The Australian benchmark index broke three consecutive days of gains.

Following are the levels of key Asian indices at 0825 IST:

(Gopika Balasubramanium)

Equity Alert: Mkt may fall sharply on high US tariff; Nifty 50 may test 24000

MUMBAI--0801 IST--Benchmark indices are expected to open sharply lower Thursday following US President Donald Trump's higher-than-anticipated tariffs on Indian goods. This move is likely to weigh on the markets in the near term. However, analysts see the long-term impact of tariffs will be limited, as Indian exports to the US make up a relatively small share of the country's GDP. On Thursday, the Nifty 50 is likely to move in a range of 24200–25000.

Some analysts see the benchmark indices falling 1-2% in the near term, with some even expecting the Nifty 50 to test the 24,000 levels. The index had last fallen below that level on May 9. The US president announced a 25% tariff on Indian goods after market hours Wednesday and said India has the most strenuous and obnoxious non-monetary trade barriers of any country. He also said the country will pay a penalty for getting cheap crude oil and military equipment from Russia.

"Markets will react negatively to the imposition of tariff on India...despite the unpredictable policy making of US, market was expecting a tariff deal to work out as longer term US India strategic interests are aligned," Nilesh Shah, managing director at Kotak Mahindra Asset Management Company, said in a note. The July contract of the GIFT Nifty indicated a sharply lower start for the market. At 0753 IST, the contract was at 24685 points, 170 points lower than the Nifty 50's latest close. The August contract was at 24771.50 points. On Wednesday, the Nifty 50 had ended at 24855.05 points, up 33.95 points. The BSE Sensex had closed at 81481.86 points, up 143.91 points or 0.2%.

Overnight, indices in the US ended slightly lower as US Federal Reserve Chair Jerome Powell dampened hopes of a rate cut in September. The US central bank said, "The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated," as reported by Reuters. Asian indices were also mixed in early trade Thursday. (Akash Mandal)

Equity Alert: US indices mixed as Fed signals no rate cut in Sept

MUMBAI--0747 IST--The S&P 500 and Dow Jones Industrial Average closed lower on Wednesday after US Federal Reserve Chair Jerome Powell said the central bank had made no decisions about a rate cut in September. This dampened traders' hopes, as nearly 64% of them were expecting a 25-basis-point rate cut in September, against 42?ter the policy outcome. Investors also parsed the June quarter earnings of two Magnificent Seven stocks--Meta and Microsoft. Results of Amazon and Apple are due later Thursday.

The US Federal Reserve kept the federal funds rate steady at 4.25-4.50% yet again, but the decision was not unanimous with two governors--Michelle Bowman and Christopher Waller--in favour of a quarter percentage-point cut. This was the first time since 1993 that the Fed's policy decision was met with such dissent, CNBC reported.

"Our obligation is to keep longer-term inflation expectations well anchored and to prevent a one-time increase in the price level from becoming an ongoing inflation problem," Powell was quoted as saying by Reuters. "Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen."

The S&P 500 index ended slightly lower and extended losses for the second straight session, while the Nasdaq Composite closed 0.2% higher. The Dow Jones Industrial Average closed 0.4% lower. Among stocks, mega-cap companies Microsoft and Meta Platforms were up more than 6?ch in extended trade after reporting quarterly results. Starbucks ended slightly lower despite posting better-than-expected third-quarter sales. Hershey gained 1.4?ter the chocolate and snacks company reported results that topped estimates.

Following are the closing levels of US indices Wednesday:

(Gopika Balasubramanium)

End

US$1 = INR 87.58

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Subhojit Sarkar

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

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