Barometers end near flat line; Nifty closes above 25,200 mark
PSU Bank, media and IT shares advanced while metal and pharma shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 63.57 points or 0.08% to 82,634.48. The Nifty 50 index added 16.25 points or 0.06% to 25,212.05.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.28%.
The market breadth was negative. On the BSE, 1,915 shares rose and 1,969 shares fell. A total of 208 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.09% to 11.24.
IPO Update:
The initial public offer (IPO) of Anthem Biosciences received bids for 2,60,65,94,640 shares as against 4,40,70,682 shares on offer, according to stock exchange data at 15:39 IST on Wednesday (16 July 2025). The issue was subscribed 59.15 times.
The issue opened for bidding on Monday (14 July 2025) and it will close on Wednesday (16 July 2025). The price band of the IPO is fixed between Rs 540 and 570 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.
Buzzing Index:
The Nifty PSU Bank index jumped 1.81% to 7,267.20. The Index jumped 3.44% for the three straight trading sessions.
Punjab National Bank (up 2.06%), Punjab & Sind Bank (up 2.02%), Canara Bank (up 1.98%), Indian Overseas Bank (up 1.92%) and Bank of Baroda (up 1.91%), UCO Bank (up 1.88%), Bank of India (up 1.82%), State Bank of India (up 1.72%), Union Bank of India (up 1.29%) and Indian Bank (up 1.22%) surged.
Stocks in Spotlight:
Network 18 Media & Investments jumped 11.17% after the company reported a standalone net profit of Rs 516.17 crore in Q1 FY26 as against a net loss of Rs 74.65 crore posted in Q1 FY25. However, revenue from operations tanked 4.9% year-on-year (YoY) to Rs 430.40 crore in the quarter ended 30 June 2025.
ICICI Lombard General Insurance Company declined 1.25%. The company reported standalone net profit of Rs 747.08 crore in Q1 FY26, up 28.72% as against Rs 580.37 crore posted in Q1 FY25. Total income rose 13.66% year on year to Rs 6,083.36 crore in the quarter ended 30 June 2025.
Just Dial tumbled 4.90%. The company reported a 13.05% jump in standalone net profit to Rs 159.65 crore on a 6.16% increase in revenue from operations to Rs 297.86 crore in Q1 FY26 over Q1 FY25.
HDB Financial Services slipped 2.94% after the company reported a 2.40% decline in net profit to Rs 567.70 crore, despite a 14.97% increase in total revenue from operations to Rs 4,465.40 crore in Q1 FY26 compared to Q1 FY25.
HDFC Life Insurance Company shed 0.17% after the companys standalone net profit jumped 14.40% to Rs 546.46 crore on 15.63% increase in net premium income to Rs 14,466.09 crore in Q1 FY26 over Q1 FY25.
Jindal Steel & Power (JSPL) fell 1.22% after the company announced that its chief financial officer, Mayank Gupta, has stepped down from his role, effective post business hours on 15 July 2025.
Hathway Cable & Datacom jumped 5.45% after the companys consolidated net profit surged 68.92% to Rs 31.03 on a 5.55% increase in revenue from operations to Rs 530.50 crore in Q1 FY26 over Q1 FY25.
State Bank of India (SBI) rose 1.81% after the lender announced that its Central Board has approved raising up to Rs 20,000 crore through Basel III compliant Additional Tier 1 and Tier 2 bonds in FY26.
Dixon Technologies (India) rose 1.76% after the company announced two major strategic agreements aimed at strengthening its presence in Indias electronics component ecosystem. In the first deal, the company signed a binding term sheet to acquire a 51% stake in Q Tech India. Further, the company also entered into a binding term sheet with Chongqing Yuhai Precision Manufacturing Co. to form a joint venture in India. Under the proposed structure, Dixon will hold a 74% stake, while Chongqing will own 26%.
Global Markets:
European market advanced despite U.K.s annual inflation rate stood at 3.6% in June, according to data released by the Office for National Statistics (ONS) on Wednesday, compared with 3.4% in May.
Most Asian markets ended lower on Wednesday after US President Donald Trump claimed a preliminary trade deal with Indonesia, which surprisingly includes a 19% tariff on the countrys exports to the US.
Indonesias central bank cuts benchmark rate by 25 bps to 5.25%. Governor Perry Warjiyo said the central bank would continue to observe room for more rate cuts, citing an expectation of low inflation through to 2026, a stable rupiah and bleak global economic outlook.
Back in the US, stocks ended mostly lower on Tuesday despite early gains in tech. The S&P 500 slipped 0.4% and the Dow tumbled 0.98%, while the Nasdaq eked out a modest 0.18% rise. Both the S&P 500 and Nasdaq briefly touched record highs before retreating.
June's consumer price index came in slightly hotter than expected, reigniting concerns that fresh tariffs could add more heat to inflation. According to the Bureau of Labor Statistics, consumer prices rose 2.7% year-on-year and climbed 0.3% between May and June. The data bolstered expectations that the Federal Reserve will hold off on any rate cuts for now.
Tariff jitters were far from over. Trump doubled down Tuesday evening, confirming that his proposed 200% tariffs on pharmaceutical imports will kick in by month-end, alongside a broader package of trade levies. Earlier, he announced a 30% tariff on imports from Mexico and the EU. The European Union pushed back sharply and is reportedly preparing retaliatory tariffs on US products including cars and alcohol.
In earnings land, Wall Streets biggest banks kicked off the season with a bang. JPMorgan Chase, Citigroup, and Wells Fargo all topped Q2 profit estimates, thanks to solid performance in both consumer and investment banking segments.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
15 minutes ago
- Hans India
BJP launches helpline for protecting small traders' interests
Bengaluru: The Karnataka unit of the Bharatiya Janata Party, on Saturday, announced the launch of a helpline to safeguard the interests of small traders in the state in the backdrop of row over GST Addressing a press conference at the State BJP Office, Jagannath Bhavan, in Bengaluru, the Leader of the Opposition in Legislative Council, Chalavadi Narayanaswamy, has said that the BJP will launch a helpline (8884245123) from July 21 to safeguard the interests of small traders in the state. He added that street vendors and small traders had been served notices by the state government, creating confusion and fear among poor traders in the state. He criticised the Congress-led state government for failing to provide solutions or clarify what constitutes taxable income. Narayanaswamy said that as per Central government's data available with the state, traders whose annual turnover exceeded Rs 40 lakh must register and pay GST. 'Service providers with turnover above Rs 20 lakh are also liable to pay GST. However, the notices sent by the state are not valid in many cases,' he alleged. 'Traders are not tax evaders or criminals. They do not understand the tax rules, and the state government has failed to educate them,' he said. He urged the state government to protect the interests of the poor traders rather than intimidate them. He said that according to Central government rules, GST is applicable only if the annual turnover exceeds Rs 1.5 crore at one per cent rate. 'For street vendors to fall under GST, they must have a permanent shop and address. There is an exemption for turnover up to Rs 40 lakh and issuing notices to traders with turnover above Rs 20 lakh has created confusion,' Narayanaswamy added. He also said that apps like Paytm, PhonePe, and Google Pay used for UPI transactions were being tracked, and funds received by traders directly into bank accounts were being used to send notices. 'But it's not being verified whether the turnover exceeding limits is due to actual business or loans and other types of transactions,' he clarified. According to G.S. Prashanth, State Convener of BJP'sEconomic Cell, items like flowers, fruits, vegetables, milk, meat, paneer, bangles, and many other products are exempted from GST. 'Even if someone does Rs 10 crore turnover in these exempted items, GST registration is not mandatory. Yet, notices have been sent to such traders by the state GST department,' he alleged. He added that according to GST laws, third-party data cannot be used to issue tax notices without verification. 'Information from Paytm, PhonePe, or Google Pay must be verified first. Officials must ascertain whether the trader's goods fall under GST before issuing notices. Unfortunately, none of this due process has been followed,' Prashanth claimed. He also said: 'The state GST department has done nothing to spread awareness among street vendors about the taxes. Nearly 90 per cent of traders fall under the jurisdiction of the state GST, and only 10 per cent under Central GST. Yet, without any outreach or information sharing, the state has spread fear among small traders.' Therefore, the 14,000 notices issued to traders by the state government are illegal and unconstitutional, he asserted. Those present at the press conference were Rajya Sabha MP Lehar Singh, Chikkaballapur district president S.V. Ramachandragowda (Seakal), BJP Medical Cell state convenor Dr. K. Narayan, BJP Economic Cell state convenor G.S. Prashanth, and former BJP state spokesperson G.V. Krishna. When asked about the state government's notices to small traders demanding tax payments, State BJP Preident B.Y. Vijayendra said, 'We discussed this yesterday with party leaders. The Siddaramaiah-led Congress government, which is struggling to mobilise funds for its guarantee schemes, is now intimidating street vendors by sending them tax notices.' 'While GST goes to the Centre, it is a fact that no other state in the country has seen such developments. But in Karnataka, the state government is unable to manage its finances for guarantees and development. So, under the Chief Minister's instructions, they are threatening traders andstreet vendors,' he added.
Time of India
15 minutes ago
- Time of India
Mastek shares rally 13% after Q1 net profit surges 29% YoY
Mastek's shares surged by 13.08% following a robust Q1FY26 financial report, showcasing a 28.7% increase in net profit. Trading above all key Simple Moving Averages, the company's strengths, including attractive valuation and consistent profit growth, outweigh its weaknesses. With low debt and zero promoter pledge, Mastek's financial stability boosts investor confidence. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Mastek rose by 13.08% on Monday to hit an intraday high of Rs 2,755 apiece on the BSE following the company's financial results for the first quarter of week, Mastek reported a 28.7% year-on-year increase in net profit for Q1FY26, rising to Rs 92 crore from Rs 71.5 crore in the same quarter the previous operating Ebitda margin was 15%, down slightly by 31 basis points, reflecting continued investments in talent and capabilities. Despite this, operating Ebitda grew 10.8% strong financials and consistent execution have boosted market confidence, leading to the sharp uptick in its stock is currently trading above all 8 Simple Moving Averages (SMAs), ranging from the short-term 5-day SMA to the long-term 200-day SMA, indicating a strong upward trend across multiple to Trendlyne's SWOT analysis, the stock's strengths significantly outweigh its weaknesses. Key positive factors include a trailing twelve-month (TTM) price-to-earnings (PE) ratio that is lower than its 3-year, 5-year, and 10-year averages, signalling potentially attractive valuation. The company has also shown consistent growth in net profit with improving profit margins Mastek maintains low debt levels, has recorded rising annual net profits over the past two years, and has seen its book value per share increase during the same period. Importantly, the company has zero promoter pledge, which is viewed positively by investors as it indicates confidence and financial stability.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
15 minutes ago
- Economic Times
Beyond 1:1 bonus issue, why HDFC Bank shares remain top pick after Q1 results
HDFC Bank's first-ever bonus issue in a 1:1 ratio caught investors' attention, particularly from retail investors, amid speculation that the move could be a smokescreen for underwhelming quarterly results. But brokerages are of the view that the underlying fundamentals of the bank, as seen in its June quarter performance, more than hold their ground, reinforcing its position as a top pick in the sector. ADVERTISEMENT Despite macroeconomic headwinds and pressure on margins, analysts across global and domestic brokerages see HDFC Bank as well placed to deliver stronger growth in the second half of FY26, aided by improving loan demand, easing regulatory constraints, and monetisation of merger synergies. Jefferies said HDFC Bank's Q1FY26 results showed "better growth and buoyant outlook", with profit of Rs 18,200 crore, up 12% YoY, ahead of estimates. 'HDFC Bank's growth should continue to improve & monetisation of merger synergies should help. Stays among our top picks,' the brokerage said. Goldman Sachs echoed that sentiment, saying the quarter was "operationally in-line" and that the bank is 'now ready to deliver on loan growth in line with its guidance while improving profitability underpinned by better NIMs in 2H and operating leverage.' The brokerage expects loan growth to improve from 12% in FY25 to 20% by while noting that loan growth was soft in Q1 at 6.7% YoY and flat sequentially, said 'we expect HDFC Bank to deliver RoA/ROE of 1.7-1.9%/13-14.5% over FY26-28F.' The broekrage maintained a "buy" rating and raised its target price to Rs 2, too, maintained its 'outperform' rating and upgraded its target price from Rs 2,200 to Rs 2,300, citing a Q1 FY26 net interest income and pre-provision operating profit beat of 2% and 10% respectively. 'While we expected an NIM reduction of 15bp for large banks, HDFC Bank surprised us with only an 11bp core NIM moderation,' the brokerage noted. CLSA praised the lender's "strong quarterly average deposit growth (both CASA and total)" and 'flat opex QoQ—another positive from the results.' ADVERTISEMENT According to Motilal Oswal, which reiterated a "buy" rating with a target price of Rs 2,300, the bank "prudently deployed HDB gains to lift floating & contingent provisions." The brokerage expects the lender to deliver FY27E RoA/RoE of 1.9%/14.9% and described the June quarter as a "steady" one, with business growth aligning with the bank's strategy to reduce its credit-deposit ratio and enhance provision buffers. ADVERTISEMENT Loan growth is expected to pick up in the second half of the year, particularly in retail, SME, and housing segments, helped by festive demand and favourable policy changes. Jefferies reported that 'management expects retail credit demand to improve aided by benefits from cut in tax rates, interest rates as well as regulatory easing.'HDFC Bank, India's largest private sector lender, announced its maiden bonus issue in a 1:1 ratio on Saturday. Under the terms of the issue, shareholders will receive one fully paid-up equity share of face value Rs 1 for every one existing fully paid-up equity share. The record date for entitlement is August 27, 2025. ADVERTISEMENT Alongside the bonus issue, the board also approved a special interim dividend of Rs 5 per share, with the record date set as July 25. The payout will be made to eligible shareholders on August corporate actions accompanied the bank's Q1FY26 results, which showed a 12% year-on-year rise in net profit to Rs 18,155 crore. Net interest income stood at Rs 31,440 crore, up 5.4% YoY, while the bank's net interest margin for the quarter moderated to 3.35% from 3.46% in the previous quarter. ADVERTISEMENT The moderation in NIMs was anticipated, with brokerages like Nomura and Goldman Sachs expecting them to bottom out in Q2 and improve thereafter. Goldman noted that 'pick up in loan growth should drive improvement in operating leverage,' while Nomura highlighted that the 'bank created floating provisions of INR90bn and contingent provisions of INR17bn in the quarter,' strengthening its buffer raised its price target to Rs 2,400 from Rs 2,340. Goldman Sachs' target price now stands at Rs 2,327. CLSA and Motilal Oswal have pegged the stock at Rs 2,300, while Nomura raised its valuation to Rs 2, challenges persist in terms of NIM pressure and a competitive retail loan landscape, brokerages largely agree that HDFC Bank's strong balance sheet, provision coverage, and improving credit growth outlook make it a compelling long-term investment. Also read | HDFC Bank announces 1:1 bonus issue in its first-ever bonus share issue (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
