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Hindustan Times
30 minutes ago
- Hindustan Times
Sensex, Nifty on course for best day in months: What led to stock market rally today?
The stock market soared on Monday, driven by the promise of Prime Minister Narendra Modi to overhaul the Goods and Services Tax (GST) system, making a range of essentials and electronics cheaper and triggering a wave of buying across sectors. PM Modi last week announced what he termed as a massive 'Diwali gift' for the people of the country, promising reforms in the GST regime.(PTI) The benchmark Nifty 50 jumped 1.51 per cent to 25,003.90, while the BSE Sensex climbed 1.34 per cent to 81,682.61, setting up both indices for their best sessions in months, according to figures mentioned in a Reuters report. If gains hold, Nifty is on course for its best day in three months while the Sensex was on track for its best session in two months. Broader indices also joined the rally, with mid-cap and small-cap stocks rising 1.5 per cent and 1.3 per cent, respectively. What triggered stock market rally? Modi's GST reform promise In his Independence Day speech from the ramparts of the Red Fort on Friday, PM Modi announced what he termed as a massive 'Diwali gift' for the people of the country, promising reforms in the GST regime. The stock market rally of Monday follows the above-mentioned announcement of sweeping tax reforms, including the simplification of GST slabs into a two-rate structure of five per cent and 18 per cent, scrapping the 12 per cent and 28 per cent rates currently applied to various goods. The changes are set to take effect from October, the Diwali month. The new structure is expected to make daily essentials, small cars, and electronics more affordable, boosting consumer demand and potentially fueling stronger corporate earnings by FY27. 'Lower rates should boost overall demand and improve the fiscal year 2027 earnings outlook,' Reuters quoted Citi Research as saying in a note. Auto, consumer stocks lead charge Automobile and consumer stocks led sectoral gains on Monday, with the auto index jumping 4.5 per cent and consumer shares gaining 2 per cent. Reports citing sources have said that the government has proposed cutting GST on small cars to 18 per cent from 28 per cent, providing a direct boost to the sector. From the Sensex firms, Maruti, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Trent and Bajaj Finserv were among the major gainers. Larsen & Toubro, ITC, HCL Technologies and Infosys were the laggards. "There are strong tailwinds for the market with potential to take it higher. Declarations by the prime minister on the next major reforms in GST by Diwali are a big positive. S&P upgrading India's sovereign credit rating is another major positive," PTI news agency quoted VK Vijayakumar, chief investment strategist, Geojit Investments Limited. Financial heavyweights gained ground, rising 1.8 per cent, after S&P upgraded ratings for top lenders HDFC Bank and State Bank of India, citing improving credit metrics and stable economic outlook. Oil slips as geopolitical risks ease Meanwhile, global oil prices eased after the US chose not to impose new sanctions on Russian oil exports following a high-stakes meeting between Presidents Donald Trump and Vladimir Putin in Alaska on Saturday. The meeting, aimed at moving toward a Ukraine ceasefire, was seen by markets as a de-escalation signal, calming energy price volatility.
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Business Standard
30 minutes ago
- Business Standard
Vodafone Idea shares rise 9% despite loss widening in Q1: Buy or stay away?
Vodafone Idea (Vi) shares rose 8.6 per cent on Monday, August 18, 2025, logging an intra-day high at ₹6.68 per share on BSE. The buying on the counter came after the company posted its Q1 results. At 10:13 AM, Vodafone Idea share price was trading 6.18 per cent higher at ₹6.53 per share. In comparison, the Sensex was 1.27 per cent higher at 81,624.51. Vodafone Idea Q1 results recap The telecom major reported a consolidated loss after tax of ₹6,608 crore in Q1FY26, up from ₹6,432 crore a year earlier. However, on a sequential basis, loss narrowed from ₹7,166.1 crore in Q4FY25. Its revenue from operations, however, grew 4.9 per cent year-on-year to ₹11,022.5 crore in Q1FY26 from ₹10,508.3 crore in Q1FY25. Sequentially, revenue increased slightly from ₹10,948.3 crore in Q4FY25. The company said that its Average Revenue Per User (Arpu) for the quarter stood at ₹177, up 15 per cent from ₹154 in Q1FY25. The company's capital expenditure for the quarter was ₹2,440 crore, while bank debt declined to ₹1,930 crore as of June 30, 2025. Its 4G/5G subscriber base rose to 127.4 million in the June quarter, up from 126.7 million in Q1FY25. 'This has been a decisive turnaround quarter. The investments made over the past three quarters to expand our 4G coverage have started yielding results, as reflected in the 90 per cent lower subscriber loss compared to Q2 and Q3 of last financial year, being the lowest subscriber decline since merger," said Akshaya Moondra, chief executive officer (CEO) of Vodafone Idea. Vodafone Idea Q1 results: Analysts view Kranti Bathini, director-equity strategy, WealthMills Securities, believes that the damage level for Vi has come down in the quarter under review, but the business is yet to stabilise. Bathini suggests that Vi shares are more suitable for high-risk appetite investors and speculators. He also said that one should monitor improvement in the growth prospects. Independent market analyst Ambareesh Baliga recommended avoiding Vodafone Idea shares post its Q1. The company, according to Baliga, has a long way to catch up, as there is no clear sign as to when the company will be profitable and when the accumulated losses will be cleared.
Mint
30 minutes ago
- Mint
Small-cap multibagger stock jumps 18% following Indian stock market rally. Do you own?
Shares of small-cap multibagger stock Integrated Industries surged nearly 18 percent in intra-day trading on Monday, August 18, following broad-based gains in Indian markets. Investor optimism was fueled by easing global headwinds, hopes of a resolution in the Russia-Ukraine conflict, potential reconsideration of secondary tariffs on India by US President Donald Trump, and S&P's upgrade of India's credit rating. These factors lifted risk appetite and propelled the benchmark indices higher. The Sensex opened at 81,315.79 against its previous close of 80,597.66 and climbed over 1,100 points, or 1.4 percent, reaching an intraday high of 81,765.77. The Nifty 50 started at 24,938.20, up from 24,631.30, and touched an intraday peak of 25,022, marking a 1.6 percent gain. The broader positive sentiment in the market boosted small-cap counters like Integrated Industries, which saw significant buying interest. Integrated Industries posted robust financial results for the quarter ended June 2025. Net sales rose 78.29 percent year-on-year to ₹ 249.85 crore, representing the highest quarterly sales in the last five quarters. Operating profit surged to ₹ 25.51 crore, continuing a trend of quarterly growth, while profit before tax (PBT) reached ₹ 24.73 crore, up 77.79 percent YoY. Profit after tax (PAT) climbed to ₹ 19.69 crore, marking a 51.7 percent YoY increase. Earnings per share (EPS) improved to ₹ 0.84, reflecting stronger profitability and enhanced returns for shareholders. Integrated Industries shares jumped as much as 17.7 percent to touch a day's high of ₹ 23. The stock remains 49 percent below its 52-week high of ₹ 44.94, recorded in October 2024, while its 52-week low of ₹ 17.16 occurred in April 2025. Over the past year, the stock has lost more than half of its investor wealth. However, in the long term, it has been a multibagger, delivering an extraordinary 66,618 percent rally over five years. Monthly performance shows volatility, with August rising 10 percent so far, following a 16 percent decline in July and a 14 percent drop in June. April offered a 31 percent rally after six months of consistent losses from October 2024 to March 2025. Formerly known as Integrated Technologies Ltd., the company was renamed Integrated Industries Limited in May 2023. Incorporated in 1995 and headquartered in Noida, it operates in the organic and inorganic food products sector, bakery items, and processed foods, both domestically and internationally. The company markets its products under the RICHLITE, FUNTREAT, and CANBERRA brands, with exports to countries including the UAE, Somalia, Tanzania, Kuwait, Afghanistan, Congo, Kenya, Rwanda, and Seychelles. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
