Quick Wrap: Nifty Pharma Index falls 2.03%
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Business Standard
10 minutes ago
- Business Standard
Afcons Infrastructure shares rise 4% after posting Q1 results; Details
Afcons Infrastructure shares rose 4.2 per cent on Monday, August 11, 2025, and logged an intra-day high at ₹424 per share on BSE. The buying interest on the counter came after the company posted Q1 results on Friday, after market hours. At 10:36 AM, Afcons Infrastructure share price was up 3.98 per cent at ₹423 per share on BSE. In comparison, the Sensex was 0.34 per cent higher at 80,131.41. Afcons Infra Q1 results In Q1, Afcons Infrastructure reported a consolidated profit after tax (PAT) of ₹137 crore, as compared to ₹92 crore year-on-year (Y-o-Y), up 50 per cent. The company's consolidated revenue from operations in the first quarter stood at ₹3,370 crore, as against ₹3,154 crore in the year-ago period, up 6.8 per cent. The Earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at ₹445 crore, as compared to ₹372 crore, up 19.6 per cent. Ebitda margin stood at 13 per cent, as against 11.6 per cent a year ago. In Q1 FY26, the company received orders worth ₹1,093 crore. In July 2025, it emerged as L1 in three road and rail projects in Croatia worth ₹11,321 crore. With this, the total L1 stands at ₹21,556 crore. Check List of Q1 results today Our sustained efforts to make an entry in European markets bore fruits with us becoming L1 in multiple large orders in Croatia. This is in line with our strategy of focusing on large orders and expanding our presence in overseas markets,' said Subramanian Krishnamurthy, executive vice chairman (Whole-time Director), Afcons Infrastructure. He added: We are excited by the growth opportunities available both domestically and internationally. We believe that our consistent financial performance, including a sturdy margin profile, positions us well to deliver value to our shareholders. We will continue to remain disciplined in our bidding and financing decisions while focusing on growth. Nuvama Institutional Equities has maintained 'Buy' on the stock with a revised target of ₹523 per share from ₹535. 'While Afcons remains a sterling Engineering, Procurement, and Construction (EPC) player (refer to In a league of its own), execution growth is contingent on payment trajectory. We are cutting FY26E/27E EPS by 2 per cent/5 per cent due to stretched working capital cycle,' the brokerage noted.
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Business Standard
10 minutes ago
- Business Standard
Grasim shares rise 3% after Q1 results; here's why analysts raised targets
Shares of Grasim Industries rose over 3 per cent on Monday after analysts raised their target prices, as strong performances in the cement and chemicals businesses drove a 32 per cent profit growth in the June quarter of the current financial year (Q1FY26). The cement and cement products maker's stock rose as much as 3.36 per cent during the day to ₹2,782 per share, the biggest intraday rise since June 10 this year. The stock pared gains to trade 2.3 per cent higher at ₹2,754 apiece, compared to a 0.15 per cent advance in Nifty 50 as of 10:13 AM. Shares of the company snapped a three-day fall and currently trade at 4.6 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 12.7 per cent this year, compared to a 3.3 per cent advance in the benchmark Nifty 50. Grasim has a total market capitalisation of ₹1.87 trillion. Grasim Industries Q1 results The flagship company of the Aditya Birla Group reported a 32 per cent increase in net profit in Q1 FY26 to ₹1,419 crore from ₹1,075 crore in the previous quarter. Consolidated revenue grew 16 per cent to ₹40,118 crore, and ebitda surged 36 per cent to ₹6,430 crore. The cement business, anchored by listed subsidiary UltraTech, was the primary earnings driver. Cement sales rose almost 10 per cent from the previous year to 36.8 million tonnes. Ebitda (earnings before interest, tax, depreciation, and amortisation) per tonne rose 37 per cent to Rs 1,248. In the chemicals business, improved realisations in caustic soda and gains in chlorine derivatives lifted ebitda 36 per cent to Rs 422 crore. Revenue increased 16 per cent to Rs 2,391 crore despite margin pressures in specialty chemicals due to low-cost imports. Analysts on Grasim Q1 earnings Motilal Oswal said Grasim's core businesses, viscose staple fibre (VSF) and chemicals, recorded improved profitability, supported by stable demand and operating performance. However, changing global trade dynamics and policies could pose near-term challenges. The brokerage noted steady progress in the company's paints and B2B e-commerce businesses, driven by ongoing distribution expansion and product portfolio additions. It said revenue growth in these segments and a reduction in losses will be key monitorables. Analysts at Motilal Oswal reiterated its 'Buy' rating on the stock, with a target price of ₹3,500. Meanwhile, Nuvama Institutional Equities said that while Grasim's chemical segment and CSF division showed improved performance, losses in its new businesses, B2B e-commerce and paints, weighed on overall results. Following the first-quarter FY26 earnings beat, the brokerage raised its FY26 estimated Ebitda by around 20 per cent. Nuvama maintained its 'Hold' rating, with a revised target price of ₹2,971, up from ₹2,698 earlier. Antique Stock Broking said it has raised its FY26 estimated standalone Ebitda by 13 per cent, while keeping its FY27 Ebitda estimate unchanged. The brokerage increased its target price to ₹3,050, from ₹2,875 earlier.
Mint
40 minutes ago
- Mint
F&O Strategy: CDSL to Tata Motors — Rupak De suggests buy or sell strategy for THESE stocks
Stock market today: The Indian stock market commenced the week nearly unchanged on Monday, as investors remained cautious in anticipation of the important meeting between US President Donald Trump and Russian President Vladimir Putin scheduled for the upcoming weekend. The Nifty 50 index started the day at 24,371.50, reflecting a slight increase of 8.20 points or 0.03 percent, whereas the BSE Sensex opened at 79,885.36, rising by 27.57 points or 0.03 percent. Market participants are keenly observing any developments from the meeting to evaluate possible tariff actions by Trump concerning India. Rupak De from LKP Securities asserts that the Nifty 50's trend is weak in the near term, with a potential drop towards 24,150–24,200. Conversely, there's resistance located at 24,475–24,500 on the upside. The Nifty 50 slipped lower after failing to sustain above the 50 EMA on the hourly chart, signalling persistent selling pressure. Adding to the weakness, the index closed below the key support level of 24,400, underscoring bearish dominance. The formation of a lower-top, lower-bottom pattern further reflects the negative sentiment. In the short term, the trend remains weak, with a possible decline towards 24,150–24,200. On the upside, resistance is placed at 24,475–24,500. Open Interest Analysis: Significant open interest additions were seen in 24,500 Calls on Friday; while, no meaningful Put writings were visible. Maximum Call writing seen at 24,500 strike while, maximum Put writing was visible at 24,000. Strategy: Sentiment is likely to weaken below 24000. Trade: Buy Nifty 50 14th Aug 24300PE ABOVE 116 TGT 170 SL 88 Medanta has delivered a decisive breakout from recent consolidation, reflecting increasing investor optimism. The RSI is in a bullish crossover and trending higher, reinforcing the positive momentum. The stock continues to trade above a key moving average on the daily chart. In the near term, the outlook remains strong with potential upside towards ₹ 1,500, while immediate support lies at ₹ 1,379. CDSL has broken out of a consolidation range, signalling the possibility of a short-term uptrend. A sustained move above ₹ 1,565 is likely to accelerate bullish momentum. The near-term bias remains positive, with scope to rally towards ₹ 1,620. However, a drop below ₹ 1,520 could dampen sentiment. Tata Motors has slipped from recent consolidation, indicating renewed bearish sentiment. The stock is trading below key moving averages on both daily and hourly charts, confirming a downtrend. Further weakness from current levels could push the price towards 615 in the short term. Resistance is seen at 645–646, and a breakout above this zone may reverse the prevailing trend. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
