Market Wrap: Sensex rises 143 points, Nifty tops 24,850 as L&T gains offset Fed, U.S. trade deal jitters
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Mint
29 minutes ago
- Mint
Small-cap pharma stock edges higher despite stock market sell-off; here's why
Stock Market Today: Small-cap pharma stock edged higher during the intraday trades on Thursday despite the stock market sell-off. Check details about Fredun Pharmaceuticals Q1 results. Fredun Pharmaceuticals Limited, a pharmaceutical formulation manufacturing company in India, reported its Q1 performance on Thursday, 31 July 2025. The Fredun Pharmaceuticals reported net profit at ₹ 6.77 Crore during the quarter ending June 2025, which was 63.82% higher compared to ₹ 4.13 crore in the year-ago quarter. As per its disclosed unaudited financials for the first quarter of fiscal year 26, the revenues at ₹ 119.86 crore grew 52.08% compared to ₹ 78.81 crore in the year-ago quarter. The boost to the bottom line was further provided by the improved operating performance. The Earnings before interest, tax, depreciation, and amortization, or EBITDA, at ₹ 16.99 crore grew 62.15% over ₹ 10.48 crore in the year-ago quarter Fredun Medhora, Managing Director, in a statement said that We are pleased to report a strong start to FY26 with a significant year-on-year growth in net profit and healthy improvement across all key financial metrics." The performance as per Medhora reflects the successful execution of our growth strategy and the continued demand for the company's diversified portfolio across domestic and international markets. The company's generics portfolio continues to strengthen, with over 1,200 products currently under registration. The current order book stands at over ₹ 200 crore, providing strong revenue visibility and momentum for the upcoming quarters. The company is diversified into generics, cosmetics, nutraceuticals, mobility, and animal healthcare products too. Fredun Pharmaceuticals share price opened at ₹ 1017.00 and gained further to RS 1020 levels on Thursday , marking intraday gains of 4.73% compared to previous day's closing price of ₹ 973.95 for the Fredun Pharmaceuticals share price The gains for the small-cap stock Fredun Pharmaceuticals share price were despite weak Indian stock markets on a day when Sensex corrected mor than 1% during intraday trades amid stock market sell-off. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
36 minutes ago
- News18
IT, Metal, Realty Stocks Slide Up To 4% Amid Trump Tariff Shock, Fed Decision
Indian equities witnessed a sharp selloff on Wednesday, July 31, with stocks in the IT, metal, and realty sectors falling over 1% each Indian equities witnessed a sharp selloff on Wednesday, July 31, with stocks in the IT, metal, and realty sectors falling over 1% each in early trade. The broader indices mirrored the weakness—Sensex declined 460 points to hover around 81,022, while Nifty dropped 141 points to 24,714. The decline came amid a double whammy of geopolitical and macroeconomic developments. Investor sentiment was hit after US President Donald Trump, in a post on Truth Social, announced a sweeping 25% tariff and additional penalties on Indian imports. While calling India a 'friend," he criticized New Delhi for maintaining some of the 'highest tariffs in the world" and penalized it for continuing trade ties with Russia, particularly in the defence and energy sectors. The timing of the move—just ahead of the August 1 trade framework rollout—has added to concerns about deteriorating bilateral ties. The Nifty IT index fell 1% to 35,161, snapping a two-day winning streak. Major laggards included Coforge and Wipro, both down nearly 2%, while Infosys, Mphasis, and Tata Consultancy Services slipped over 1% each. Persistent Systems, Tech Mahindra, and HCL Tech also traded lower. Bhavik Joshi, Business Head at INVasset PMS, noted that IT stocks remain under pressure due to continued demand uncertainty. 'The recent wave of layoffs and hiring freezes signals that the demand environment is still weak. Budget cuts and delayed decision-making by global clients are adding to the drag. A second-half recovery now appears more delayed than previously hoped," he said. Metal Stocks in the Red The Nifty Metal index also lost nearly 1%, falling to 9,331. Hindustan Copper was the top loser, tumbling over 4% to ₹247. Adani Enterprises declined nearly 1.5% ahead of its Q1 FY26 earnings release. Other notable losers included NMDC, Jindal Steel & Power, Hindustan Zinc, and Welspun Corp, each down more than 1%. Stocks such as Vedanta, Hindalco, Tata Steel, and SAIL traded with marginal losses. Joshi noted that while metals are currently under pressure due to tariff-related concerns, the broader setup remains potentially favourable. 'With global stimulus chatter gaining pace and inventories remaining low, we could see a sharp reversal once the trade uncertainty clears," he added. Nifty Realty also dropped over 1% to trade around 907, marking its second straight day of losses. Sobha led the fall with a 2.1% drop, followed by Oberoi Realty, Phoenix Mills, and Raymond, each slipping nearly 2%. Prestige Estates and Anant Raj fell over 1%, while DLF and Brigade Enterprises were marginally lower. Despite the weakness, Joshi remains optimistic about the sector's outlook. 'Real estate is quietly gaining traction. Rising institutional interest, strong pre-sales, and improving rental yields indicate there is real demand in the premium residential and commercial segments, not just speculation," he said. Analysts suggest traders maintain a cautious stance amid the volatility. 'Given the heightened uncertainty and mixed technical signals, traders should adopt a 'sell-on-rise' approach and manage risk through tight trailing stop losses. Only initiate fresh long positions if Nifty sustains above the 25,000 mark," said Hardik Matalia, Derivative Analyst at Choice Equity Broking. Meanwhile, Utsav Verma, Head of Research – Institutional Equities at Choice Broking, said there is still room for optimism. 'We believe the tariff rate may eventually settle around 15%, which would restore investor confidence and pave the way for stronger trade ties. In the short term, markets may remain rangebound but are likely to stay earnings-focused rather than reacting with panic." About the Author Aparna Deb Aparna Deb is a Subeditor and writes for the business vertical of She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, More Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
an hour ago
- Economic Times
Picture abhi baki hai: Why Sensex, Nifty are down but not crashing after Trump's 25% tariff bombshell
US President Donald Trump's bombshell announcement of a brutal 25% tariff on Indian goods imports, the highest among Asian nations, and coupled with mysterious "additional penalties" for Russia ties, sent shockwaves through sectors from textiles to pharmaceuticals. The Sensex and Nifty tumbled around 1% each in the morning but quickly recovered most of the losses with battle-hardened investors already sharpening their knives to buy the dip as tariffs are expected to be negotiated lower next month. ADVERTISEMENT The tariff assault, effective August 1st, marks India as Trump's primary Asian target with rates that dwarf those slapped on Vietnam (20%), Indonesia, and the Philippines (19% each). Market experts point out to the fact that not only is the negotiation road still open, but FIIs have already priced in most of the tariff pain as they have already withdrawn around Rs 25,000 crore from the stock market in the last 8 days of non-stop selling. 'The announced higher reciprocal tariff rate of 25%, however, may be temporary, and might settle down lower. Unlike other countries, India is in the process of securing a detailed trade deal with the US. Most of the other countries have secured very rough-cut deals, with some agreements largely verbal. Indian government sources had previously suggested that an 'interim' deal was meant to be part of a more comprehensive trade deal that would take until end-2025 to agree upon,' Nomura's Sonal Varma said. While stating that India has undertaken a more sensible approach to prioritise detailed evaluation of any trade deal instead of agreeing on a hurried deal based on a tight deadline, Varma said these negotiations will take time and, very importantly, are still ongoing.'The US trade delegation is set to visit India at the end of August as part of this process. Hence, the elevated tariffs announced by the US are unlikely to be permanent, in our view, although the best-case outcome would be tariffs in the 15-20% range,' the brokerage firm said. Geojit's Dr. VK Vijayakumar also agreed, saying while the tariff is very bad news for Indian exports and thereby on the growth prospects of the Indian economy in the short run, it is the typical Trumpian strategy to get better deals from India in other areas and finally settle at a tariff rate around 20% or less. ADVERTISEMENT "Nifty is unlikely to go below the support level of 24500. Investors can buy the dip focusing on domestic consumption themes, particularly segments like leading private sector banking names, telecom, capital goods, cement, hotels and select autos which have done well in Q1,' he tariff tsunami crashed hardest into exporters across auto components, select capital goods, chemicals, pharma, refiners, solar and textiles. Nuvama sounded a more ominous note about the real danger lurking beneath: "The higher tariffs on India (versus expectations) could potentially weigh on capital flows." ADVERTISEMENT "FII flows have now become critical in shaping market outcomes amid heavy promoter selling and slowing DII flows,' it said, adding that rupee depreciation could help IT and it could potentially outperform given the now low relative economist lead Madhavi Arora delivered perhaps the most reassuring assessment: "The tariff will have little impact on India's 2HFY26E earnings recovery trajectory, as high-weightage sectors such as financials, consumption, and technology are unaffected." ADVERTISEMENT Her verdict on the 25% rate: "We believe the 25%+ regime is the worst-case scenario and the final bilateral deal could be reached with a lower tariff ... .In any case, a meaningful correction is an opportunity to buy the market with consumer discretionary and industrials as the key sectors." With Indian government sources previously suggesting an 'interim' deal as part of a comprehensive trade agreement lasting until end-2025, the current tariff rates appear more like opening shots in a prolonged negotiation rather than final settlements. (You can now subscribe to our ETMarkets WhatsApp channel)
