Sensex drops 369.58 points in early trade; Nifty declines 104.3 points
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Business Standard
2 hours ago
- Business Standard
L&T wins order worth over ₹15k cr for hydrocarbon offshore biz; stock up 1%
Larsen & Toubro (L&T) share price moved higher by 1 per cent to ₹3,461.20 on the BSE in Tuesday's intraday trade, aided by heavy volumes, after the company won an ultra-mega order for its hydrocarbon offshore business from a client in the Middle East. While the company did not specify the exact value of the order, L&T's order categorisation put an 'ultra mega' contract under 'more than ₹15,000 crore' bracket. Below this, 'Mega' contract is in the range of ₹10,000 crore to ₹15,000 crore, 'large' contract in the range of ₹2,500 crore to ₹5,000 crore, and 'significant' contract ranges between ₹1,000 crore and ₹2,500 crore, as per L&T's order specifications. The hydrocarbon offshore order encompasses multiple offshore packages, and the scope includes engineering, procurement, construction and installation of offshore structures, along with the upgradation of existing facilities, L&T said. The vertical is a leading provider of engineering, procurement, construction, installation & commissioning (EPCIC) solutions in the offshore oil and gas sector. Notably, L&T has established a strong competitive position in the energy and hydrocarbon sectors in Saudi Arabia and other Gulf countries, with significant order book growth since its foray into the region 10 to 15 years ago. Separately, on July 24, 2025, the Buildings & Factories (B&F) business vertical of L&T secured large orders in India and abroad. Check List of Q1 results today L&T Q1 results today Meanwhile, the board of directors of L&T is scheduled to meet today i.e. on July 29, 2025 to consider and approve the unaudited consolidated and standalone financial results of the company for the quarter ended June 30, 2025 (Q1FY26). At 12:27 PM, L&T share price was trading 0.73 per cent higher at ₹3,447.15, as compared to a marginal 3.66 points dip in BSE Sensex at 80,887.36. The average trading volume on the counter jumped over 10-fold on the BSE. A combined 1.3 million equity shares have changed hands on the BSE (0.77 million shares) and NSE (0.53 million shares). That said, in the past one month, L&T has underperformed the market by falling 6 per cent as against a 3 per cent decline in the BSE Sensex. Fitch Ratings has affirmed L&T's long-term foreign- and local-currency issuer default ratings (IDRs) at 'BBB+' with a stable outlook. The ratings reflect L&T's strong market position as a large global engineering and construction (E&C) company with above-average profitability and solid revenue visibility. The rating agency believes L&T's robust record of steady margins and diversification into stable, high-margin IT and technical services buffers its ratings against the inherent risks in the E&C sector. The ratings also reflect L&T's strong financial structure and sound financial flexibility. The large order backlog of $68 billion translates into an order book/revenue ratio of around 3.0x in the E&C business for the financial year ended March 2025 (FY25). This is markedly higher than other E&C peers, and Fitch Ratings believes it lends a high degree of revenue growth visibility despite the sector's inherent cyclicality. The rating agency expects continued robust growth in L&T's order book, considering the government's focus on boosting India's infrastructure. "We expect L&T's Ebitda margin to remain at 9 per cent-10 per cent over FY26 and FY27 (FY25: 9.1 per cent). An increase in overseas orders would cause a moderate rise in the share of fixed-price contracts, but L&T's adequate risk management, which has kept margins on fixed-price contracts broadly in line with its cost-plus contracts, should limit the impact," Fitch Ratings said in rating action on June 30, 2025.
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Business Standard
3 hours ago
- Business Standard
Smallcap stationary stock rallies 8%, nears 52-week high post Q1 results
Flair Writing Industries share price today Shares of Flair Writing Industries (Flair) rallied 8 per cent to ₹342 on the BSE in Tuesday's intra-day trade amid heavy volumes after the company reported healthy June quarter (Q1FY26) earnings. The stock price of the smallcap stationary company was trading close to its 52-week high of ₹342.95 touched on December 10, 2024. It has recovered 75 per cent from its 52-week low of ₹195 hit on March 17, 2025. At 11:33 AM; Flair was trading 7 per cent higher at ₹339.80, as compared to 0.01 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over three-fold. A combined 126,000 shares changed hands on the NSE and BSE. Q1FY26 results Flair Writing Industries The company reported a solid start to FY26 with robust revenue & earnings before interest, taxes, depreciation, and amortization (EBITDA) growth in Q1, primarily fueled by the continued market acceptance of products. This achievement was driven by strong performance across the business segments, with the creative segment reporting exceptional growth, the management said. The company reported 10.5 per cent year-on-year (YoY) growth in consolidated profit after tax at ₹29.0 crore, on the back of 16.8 per cent YoY rise in revenues at ₹288.5 crore. EBITDA margin improved to 17.2 per cent from 17.0 per cent. Strategy Forward The pen category comprises the company's largest, fastest-growing and most margin-accretive business segment, contributing 77 per cent of overall revenues in FY 2024-25. The company is focusing on the development of value-driven and sustainable products through the use of eco-friendly materials and refillable design, with the aim of targeting eco conscious consumers. Flair is also venturing into Tier II and Tier III cities while using data analytics to improve inventory management and demand forecasting, thus strengthening its domestic market position. Globally, Flair is looking to new export markets with product ranges specific to regional preferences. In the stationery products segment, Flair plans to expand its product base to offer additional school, office and creative writing supplies. Flair is also exploring international expansion through establishing strategic partnerships and product customisation to suit local tastes. The Company's increased emphasis on e-commerce, data-driven sales and localisation of marketing is expected to drive sustainable growth across segments. About Flair Writing Industries Flair is among the Top-3 players in the writing instruments industry - with a market share of approximately 9 per cent in the overall writing and creative instruments industry in India, as of March 31, 2023 (as per Crisil Report). Flair manufactures and distributes several brands in India and partners with various international brands in the writing instruments industry. Company's products are sold under the 'Flair' brand, 'Flair Creative', their principal brands 'Hauser' and 'Pierre Cardin' and they have recently introduced 'ZOOX' in India. The company is also present in manufacturing of steel bottles and other houseware products.
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Business Standard
4 hours ago
- Business Standard
Stock Market LIVE: Sensex, Nifty trade flat; IT, defence stocks crack; pharma, realty lead gains
Sensex Today | Stock Market LIVE Updates on Tuesday, July 29, 2025: In the broader markets, the Nifty MidCap index was trading 0.2 per cent up, while the Nifty SmallCap index was down 0.03 per cent 12:01 PM Stock Market LIVE Updates: 12:00 PM market update Stock Market Live Updates: Benchmark indices took a volatile trajectory on Tuesday as uncertainty over the trade deal between the US and India continued to drag investor sentiment. At 12:00 PM, BSE Sensex was trading at 80,823.25 level, down by 67 points or 0.08 per cent. Whereas, Nifty50 was trading at 24,675.65 level, down by 0.02 per cent or 5 points. From the Sensex pack, Bharat Electronics Ltd. (BEL), Axis Bank, Eternal (Zomato), Tata Consultancy Services (TCS) and Titan were among the top losers. On the flip side, Bharti Airtel, L&T, Tata Motors, Reliance and Adani Ports were among the top gainers. 11:48 AM Stock Market LIVE Updates:PNC Infratech shares advance 5% on winning ₹2,956-crore order; Details Stock Market LIVE Updates: PNC Infratech shares gained 5.4 per cent, logging an intra-day high at ₹314.85 per share. At 11:21 AM, PNC Infratech share price was trading 3.02 per cent higher at ₹307.45 per share on BSE. In comparison, the BSE Sensex slipped 0.05 per cent to 80,849.19. The market capitalisation of the company stood at ₹7,887.3 crore. The 52-week high of the company stood at ₹529.8 per share, and the 52-week low was at ₹235.7. The stock gained after the company emerged as an L1 Bidder in a tender floated by South Eastern Coalfields. The project is worth ₹2956.66 crore and has to be executed within five years. READ MORE 11:28 AM Stock Market LIVE Updates: Paradeep, Punjab Chem at 52-week high; what's driving agri stocks today? Stock Market LIVE Updates: Shares of agriculture-related companies like Paradeep Phosphates, Mangalore Chemicals & Fertilizers, Punjab Chemicals & Crop Protection and Southern Petrochemicals Industries Corporation (SPIC) hit their respective 52-week highs, as they rallied up to 17 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes. NACL Industries, Rallis, Gujarat State Fertilizers & Chemicals, Dhanuka Agritech, Sharda Cropchem, Insecticides (India) and Coromandel International were trading higher in the range of 2 per cent to 6 per cent. In comparison, the BSE Sensex was down 0.15 per cent at 80,768 at 10:20 AM. READ MORE 11:05 AM Stock Market LIVE Updates: Benchmarks at 11:00 AM Stock Market LIVE Updates: Benchmark equity indices continued their volatile trajectory as uncertainty over India-US trade deal kept the overall market sentiment jittery. At 11:00 AM, BSE Sensex was trading down by 177 points or 0.22 per cent, quoting 80,713.49. Whereas, Nifty50 was trading at 24,645.35 level, down by 35 points or 0.14 per cent. 10:46 AM Stock Market LIVE Updates:TCS stock hits 33-month low; Jefferies, YES Securities' take on what's next Stock Market LIVE Updates: Shares of Tata Consultancy Services (TCS) slipped 1 per cent to ₹3,058.10 on the BSE during Tuesday's intra-day trade, hitting their lowest level in 33 months. The stock of the information technology (IT) major is trading lower for the fourth straight day, falling 4 per cent after the company said it would lay off about 2 per cent or 12,260 employees of its global workforce. The stock has fallen below its previous low of ₹3,060.25, touched on April 7, 2025 and is trading at its lowest level since October 2022. Thus far in the calendar year 2025 (CY25), the stock has underperformed the market by falling 25 per cent, as compared to a 3 per cent rise in the BSE Sensex. READ MORE 10:36 AM Stock Market LIVE Updates: Benchmarks at 10:30 AM Stock Market LIVE Updates: Equity benchmark indices are trading with extreme volatility on Tuesday. The BSE Sensex is quoting at 80,740, lower by 151 points or 0.19 per cent. It has hit a high of 80,991 and a low of 80,575 so far in trade. Similarly, the Nifty50 index is at 24,640, lower by 41 points or 0.17 per cent. The index has, so far, touched a high of 24,727 and a low of 24,599 on the NSE. In the broader markets, the Nifty MidCap index is trading flat with a negative bias, while the Nifty SmallCap is down by 0.39 per cent. 10:25 AM Stock Market LIVE Updates: L&T wns 'ultra-mega' order for Hydrocarbon offshore business Stock Market LIVE Updates: L&T share price was on investor radar after the company informed the stock exchanges that its Hydrocarbon Offshore business vertical (L&T Energy Hydrocarbon Offshore) has secured an ultra-mega order from a prestigious client in the Middle East. Notably, the value of 'Ultra-mega' orders is more than ₹15,000 crore. 10:04 AM Stock Market LIVE Updates: Torrent Pharma gains over 2% after Q1 results Stock Market LIVE Updates: The pharma major reported a 20 per cent rise in net profit for the quarter ended June 30, 2025, to ₹548 crore from ₹457 crore reported in the corresponding quarter of the previous fiscal year. Consolidated revenue from operations figure stood at ₹3,178 crore, an 11 per cent increase from ₹2,859 crore. Operational earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter under review stood at ₹1,032 crore, signalling an increase of 14 per cent year-on-year (Y-o-Y). READ MORE 9:44 AM Stock Market LIVE Updates: IndusInd Bank share price trades higher post Q1 Stock Market LIVE Updates: IndusInd Bank shares were rose nearly 1.7 per cent in the intraday trade today, hitting a high of ₹818.6 per share on the BSE. The rise in IndusInd Bank's stock came after the private lender reported a slight improvement in its quarterly earnings on a sequential basis. The numbers, however, remained weak Y-o-Y. IndusInd Bank Q1 results The private sector lender reported a 72 per cent Y-o-Y fall in net profit to ₹604 crore in the Q1FY26. The bank's net interest income (NII) dropped 14 per cent Y-o-Y to ₹4,640 crore due to a shrinking loan book. On a sequential basis, NII was up 52 per cent. Connect with us on WhatsApp
