Adani group exits AWL Agri Business; sells remaining 10.42% stake for Rs 3,732 cr
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The Hindu
4 minutes ago
- The Hindu
Sensex jumps nearly 540 points on buying in bluechip banks, oil shares
Benchmark Sensex jumped nearly 540 points while Nifty closed above the 25,200 level on Wednesday (July 23, 2025) on heavy buying in banking giants and oil shares and a positive trend in Asian markets after Japan secured a trade deal with the U.S. The 30-share BSE Sensex jumped 539.83 points or 0.66% to settle at 82,726.64. During the day, it surged 599.62 points or 0.72% to 82,786.43. The 50-share NSE Nifty gained 159 points or 0.63% to settle at 25,219.90 as 37 of its constituents advanced and 13 declined. Among Sensex firms, Tata Motors rose the most by 2.51%. Bharti Airtel, Bajaj Finance, Maruti, Bajaj Finserv, ICICI Bank, HDFC Bank and Reliance Industries were also the major gainers. Private banking giants HDFC Bank and ICICI Bank hit their 52-week high levels intra-day before settling nearly 1% higher. Value buying in Reliance Industries, following five days of losses, also supported the rally. RIL shares closed higher by 0.83%. However, Hindustan Unilever, UltraTech Cement, Bharat Electronics and ITC were among the laggards. 'The Indian equity market demonstrated resilience despite a mixed start to Q1 FY26 earnings. Positive global cues, underpinned by optimism surrounding the U.S.-Japan trade agreement, have supported sentiment. Additionally, progress toward finalising the India-U.K. FTA has further contributed to the constructive outlook. 'Continued advancements in global trade negotiations are expected to alleviate near-term trade tensions and foster greater market stability. While elevated valuations remain a concern, the prevailing market strength indicates potential for near-term earnings recovery. However, the pace and sustainability of this recovery will be critical in shaping the market's forward trajectory,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE midcap gauge climbed 0.24% and smallcap index went up by 0.05%. Among BSE sectoral indices, telecommunication jumped 1.14%, followed by auto (0.86%), bankex (0.75%), tech (0.74%), financial services (0.70%), healthcare (0.70%) and energy (0.65%). Realty dropped 2.60%, FMCG (0.46%), capital goods (0.31%) and services (0.20%). In Asian markets, Japan's Nikkei 225 index jumped 3.51% as U.S. President Donald Trump announced a trade deal with Japan, with a 15% tax on goods imported from that country. South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory. 'On the global stage, investor sentiment soared following optimistic developments surrounding the U.S.-Japan trade pact, igniting expectations for further international agreements in the near future,' according to Ashika Institutional Equities. Markets in Europe were trading in the green. The U.S. markets ended mostly higher on Tuesday (July 22, 2025). Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,548.92 crore on Tuesday (July 22, 2025), according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth ₹5,239.77 crore in the previous trade. Global oil benchmark Brent crude dipped 0.45% to $68.29 a barrel. The rupee stayed weak for the sixth consecutive session and settled with a loss of 3 paise at 86.41 against the dollar on Wednesday (July 23, 2025), amid a strong American currency and outflow of foreign funds.
News18
13 minutes ago
- News18
Syngene PAT rises 61 pc to Rs 87 cr in Jun qtr
Agency: PTI New Delhi, Jul 23 (PTI) Syngene International on Wednesday reported a 61 per cent increase in its consolidated profit after tax to Rs 87 crore in the first quarter ended June 30, 2025. The company posted a profit after tax (PAT) of Rs 54 crore in the April-June quarter of the last fiscal. Revenue from operations rose to Rs 875 crore during the first quarter as compared with Rs 790 crore in the year-ago period, the contract research, development and manufacturing organisation (CRDMO) said in a regulatory filing. 'Continued conversion of pilot programmes into longer-term contracts within our research services business was the main driver underpinning this momentum," Syngene International Managing Director and Chief Executive Officer Peter Bains said. 'While we remain mindful of ongoing macroeconomic factors, we maintain a confident outlook," he added. Shares of the company ended 0.5 per cent up at Rs 679.65 apiece on the BSE. PTI MSS MSS SHW 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.
News18
13 minutes ago
- News18
Dr Reddys profit rises 1 pc to Rs 1,410 cr in Q1
Agency: PTI Last Updated: New Delhi, Jul 23 (PTI) Dr Reddy's Laboratories on Wednesday reported a 1 per cent increase in consolidated net profit to Rs 1,410 crore during the Juen quarter. The Hyderabad-based drug major reported a net profit of Rs 1,392 crore in the year-ago period. Revenue increased to Rs 8,545 crore in he period under review from Rs 7,673 crore a year earlier. 'We delivered double-digit growth this quarter over the same period last year, reflecting our strength in branded markets and positive momentum in the Nicotine Replacement Therapy portfolio," Dr Reddy's Co-Chairman & MD G V Prasad said. The pricing pressure on Lenalidomide is expected to intensify in the US generics market, he noted. 'We remain focused on strengthening our base business by delivery of our pipeline assets, improving overall productivity and business development," Prasad said. Shares of the company ended 0.58 per cent up at Rs 1,247.55 apiece on the BSE. PTI MSS TRB 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.
