Shriram Finance, Divi’s Lab, Apollo Hospitals, Adani Enterprises, and Bharti Airtel were the top gainers in the Nifty 50. While ONGC, Nestle India, Dr Reddy’s Lab, Axis Bank, and HDFC Bank were the major losers in the Nifty 50 during the later hours on July 26.

“The Reserve Bank of India (RBI), in a major move, came out with draft guidelines tweaking the computation of liquidity coverage ratio (LCR). Given the paucity of data, exact computation as regards the impact is difficult for now. Even so, our back-of-the-envelope calculations (based on certain assumptions) suggest a high 7-20 percentage point impact on LCR (viz., potentially LCR at 120% may fall to within 100-113%). Our impact analysis suggests that it is higher for small finance banks, and mid-sized private banks followed by PSBs and large private banks in that order,” said Elara Securities on new guidelines drafted for liquidity coverage ratio.

The stock of SJVN rose 13.2% to an intraday high of Rs 159.65. The surge in the stock price came after the company received a Letter of Intent from the government of Mizoram for the allotment of the Darzo Lui pumped storage project. The project, with an installed capacity of 2,400 MW, is estimated to cost Rs 13,947.50 crore upon completion.

Piramal Pharma’s stock fell 6% to Rs 161.98 from its intraday high of Rs 172.25 as soon as the company reported its Q1 earning numbers. The company’s net loss narrowed down to Rs 89 crore for the quarter compared to Rs 99 crore in the corresponding quarter of the last fiscal year. Its revenue from operations stood at Rs 1,951 crore, a growth of 12% on year against Rs 1749 crore it reported in the year-ago period. However, the stock rose to a new all-time high ahead of the results.

The stock of Alembic Pharmaceuticals rose 2% to a fresh all-time high of Rs 1,224.90 after it announced that USFDA completed the inspection for its Oral Solid Formulation Facility (F-I) located at Panelav. This was a scheduled GMP inspection and was completed without any Form 483 observation. The inspection was conducted from July 17, 2024 to July 26, 2024.

Shares of Shriram Finance rose 6.5% to a new all-time high of Rs 2,852 after the company reported its Q1 results. The company’s consolidated net profit of Rs 2,022.8 crore was up 19% on year compared to Rs 1,705 crore it posted in the same period a year ago. Shriram Finance’s total revenue from operations stood at Rs 9,605 crore for the quarter, growth of 20% on year from Rs 8,003 crore reported in the corresponding period last fiscal.

The stock of Sun Pharmaceuticals rose 2.8% to a fresh record high of Rs 1,712.40 after the USFDA approved “LEQSELVI” (deuruxolitinib) 8 mg tablets for the treatment of adults with severe alopecia areata. LEQSELVI is an oral JAK inhibitor for the treatment of severe alopecia areata.

Shares of Life Insurance Corporation rose more than 3% to hit a new all-time high of Rs 1,197, on July 26, from its previous close of Rs 1,160.90. The upper circuit for the stock is placed at Rs 1,393.05. The stock has risen 30% in the last six months.

Most of the auto stocks were trading higher. Ashok Leyland touched its all-time high of Rs 248.89 despite reporting a 9% on year decline its net profit in Q1 of FY25 standing at Rs 526 crore. The Hinduja’s owned flagship company recorded its highest ever first-quarter sales volume and revenues.

The stock of Tech Mahindra fell as much as 5.6% to an intraday low of Rs 1,444.25 despite the company’s net profit jumping 23% on year in Q1 FY25. The company’s net profit for the quarter came in at Rs 851.5 crore. According to the brokerage house, the tech giant’s turnaround efforts, which it set in the previous quarter, are off to a good start.

The NSE Nifty 50 was up 249 points or 1.02% at 24,655, while the BSE Sensex was up 692 points or 0.87% at 80,733.

Shares of Sobha Ltd. fell almost 5% to an intraday low of Rs 1,778.75 after a block deal of 5% shares took place on July 26. However, the buyers and sellers couldn’t be identified immediately. However, some news reports suggested that Anamudi Real Estate LLP, a wholly owned entity of the Godrej family, is likely to pare 5% of its 9.9% stake in the realty firm, Sobha. The deal, estimated to be around $100 million and is expected to be priced at a 6% discount to the current market price (CMP).

Power Grid Corporation, Cipla, IndusInd Bank, Shriram Finance, and other companies will announce their quarterly results for Q1 of FY25 on July 26. You can catch the live updates for the same at Financial Express.

Shares of Bharti Airtel rose 4.4% to an intraday high of Rs 1,512.65 on Friday after its Africa unit Airtel Africa reported a net profit in comparison to a net loss reported a year ago. Airtel Africa posted a consolidated net profit of USD 7 million for the quarter ending June 2024, compared to a net loss of USD 170 million in the corresponding period a year ago. In the previous quarter ending March 2024, it announced a loss of USD 91 million on account of tax impact and forex loss.

Sanstar debuted on the bourses at Rs 109, a premium of 14.7% to the issue price on the National Stock Exchange. The company opened its IPO to investors on July 19 and closed it on July 23 collecting a total of Rs 510.15 crore. Sanstar sold 41.8 million fresh shares and 11.9 million shares through an open offer.

“International and domestic gold and silver prices tumbled on Thursday on worries about slack global demand and upbeat GDP data. The Dollar and the U.S. Treasury Yields recovered from the lows of the session and weighed on prices. Data showed US Q2 GDP report of 2.8% versus expectations of 2.0% and twice as fast as the 1.4% rate seen in the first quarter, raised the prospects for higher-for-longer U.S. interest rates. Heavy profit taking and weak long liquidation from futures traders featured on Thursday’s trade. However, orders for durable goods fell 6.6% in June, the Commerce Department said Thursday. It is the sharpest drop since the pandemic and capped downside,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Nifty Pharma up smartly in early trade. The Index clocked 1% gains led by Lupin, Cipla, Divi’s Lab, Torrent Pharma. The Nifty Pharma Index has also surpassed its 52-week highs and hit a new intra-day high of 21,323.10.

The gold rate of 24 carats rose in India to Rs 67,680 per 10 grams, down by Rs 1,440, on July 26. While the rate for 24 carats gold per gram is Rs 6,768, up by Rs 144. The rate of 22 carats gold is Rs 62,040 per 10 grams, down by Rs 1320. The rate of 24 carats gold has dropped by 7.54% in the last one week, while in the last ten days, the yellow metal of 24 carats has fallen by 9%. The silver rate currently quotes at Rs 815.5 per 10 grams, a drop of Rs 32.2.

The NSE Nifty 50 opened 0.07% higher at 24,423.15, while the BSE Sensex opened flat at 80,041.31.

“Marubozu candle in daily timeframe signals strength in the reversal seen yesterday. Powered by the optimism of the August F&O expiry, the index could aim for 24550-24600. However, the weekly candle formation still favours weakness. For the day, consider going long initially aiming 24550-24600 and take a cautious stance near the upper extremity. Fresh longs beyond 24600 would depend on the sustainability of the index. On the downside, immediate support for the day lies near 24,350 and a breach of which will open up 24200. We continue to maintain our stance that a move below 24,000 could lead to further downside risks, with the next support zone lying between 23,055 and 23,000,” said Anand James, Chief Market Strategist of Geojit Financial Services.

The company has received a Letter of Intent from the government of Mizoram to allot the Darzo Lui pumped storage project. The project, with an installed capacity of 2,400 MW, is estimated to cost Rs 13,947.50 crore upon completion.

Anamudi Real Estate LLP, a wholly owned entity of the Godrej family, is poised to sell 5% of its 9.9% stake in realty firm Sobha Ltd through block deals. The deal, estimated to be around $100 million, is expected to be priced at a 6% discount to the current market price (CMP).

The pharmaceutical firm announced it will acquire a 100% stake in Bharat Serums and Vaccines Ltd (BSV) from Advent International for an enterprise value of approximately Rs 13,630 crore, subject to closing-related adjustments.

EQT Private Capital Asia exited RBL Bank by selling its entire 7.89% stake in the private sector lender for Rs 1,091 crore through an open market transaction. The shares were sold via a bulk deal on the BSE by EQT Private Capital Asia’s vehicle, Maple II BV.

Telecom infrastructure firm Indus Towers announced that its board of directors will review a proposal for the buyback of fully paid-up equity shares during a scheduled meeting on July 30, 2024. This would be the company’s first share buyback since June 2016, when it operated under the name Bharti Infratel.

JM Financial Services reported a 6.2% year-on-year dip in net profit, totalling Rs 60.4 crore for the first quarter ended June 30, 2024. In the same quarter of the previous year, the company posted a net profit of Rs 64.4 crore. Revenue fell by 5.4% to Rs 219 crore, compared to Rs 231.6 crore in the corresponding period of the preceding fiscal.

The company reported a 38% year-on-year decline in net profit, falling to Rs 342.6 crore for the first quarter ended June 30, 2024. In the corresponding quarter of the previous year, the company posted a net profit of Rs 548.32 crore. Revenue dipped by 3.5% to Rs 17,095 crore, compared to Rs 17,720.2 crore in the same period last year.

The beer maker reported a 27.5% year-on-year increase in net profit, reaching Rs 173.8 crore for the first quarter ended June 30, 2024. In the corresponding quarter of the previous year, the company posted a net profit of Rs 136.3 crore. Revenue increased by 8.8% to Rs 2,475.1 crore, compared to Rs 2,274.8 crore in the same period last year.

Read more: Stocks To Watch

The company reported a 55% year-on-year decline in net profit, falling to Rs 35.5 crore for the first quarter ended June 30, 2024. In the corresponding quarter of the previous year, the company posted a net profit of Rs 79 crore.