The Indian stock market witnessed a strong intraday recovery on Monday, with Sensex closing up around 47 points at 77,616 and Nifty 50 gaining 4 points at 24,211 after crashing nearly 1% each in morning trade. According to The Economic Times, Sensex rebounded around 759 points from its intraday low, while Nifty 50 recovered 211 points after falling to 24,000. Market experts suggest the Nifty IT index would be in focus after TCS reported inline June quarter earnings, with management commentary suggesting expectations of gradual recovery in technology spending from the second quarter. Vinod Nair, Head of Research at Geojit Investments, noted that the market recorded a sharp recovery from intraday lows, ending with modest gains amid positive underlying sentiment supported by encouraging IT business updates and attractive valuations.
Several stocks are expected to remain in focus today due to quarterly results announcements. As reported by The Hindu BusinessLine, HCL Technologies, ICICI Prudential Asset Management Company, and Bajaj Consumer Care will declare their Q1 results FY27 today. These companies' performance metrics will be closely watched by investors for insights into their operational efficiency and market positioning in the current quarter. The earnings season is gathering pace with investors expected to remain selective as more corporate results are announced this week. LTM (formerly LTI Mindtree) also reported strong Q1 FY27 results with net profit of ₹1,468 crore, up 17% year-on-year, while revenue grew 18% to ₹11,608 crore.
Avenue Supermarts, which operates the DMart retail chain, reported a consolidated net profit of ₹860.6 crore for the quarter ended June, marking an 11.3% year-on-year increase from ₹773 crore recorded in the same period last year. According to CNBC TV18, this strong financial performance demonstrates the company's robust operational efficiency and market positioning in the retail sector. The company's revenue from operations was up 14.9% to ₹18,794.53 crore during the quarter, with total income including other income reaching ₹18,820.31 crore, up 14.9% in the June quarter. From an asset quality perspective, it reported a notable improvement in the stock of Gross Stage 3 assets to 2.86% from 3.31% in the year-ago period. Additionally, EBITDA grew by 15.4% to ₹1,499 crore, while the EBITDA margin remained steady at 7.97% compared to 7.94% a year ago. The company also added three stores during the quarter to expand its retail footprint.
Out of the 3,442 stocks that traded on NSE on July 13, 1,776 stocks witnessed advances, 1,557 saw declines while 109 stocks remained unchanged, indicating a bullish sentiment meter. According to The Economic Times, Kalyan Jewellers emerged as the most active stock in terms of turnover with ₹7,892 crore, followed by TCS at ₹2,678 crore and Infosys at ₹2,300 crore. In volume terms, Vodafone Idea led with 23.45 crore traded shares, while Kalyan Jewellers recorded 15.45 crore shares traded. Newgen Software, Sonata Software, C.E. Info Systems, Kalyan Jewellers, Aegis Vopak Terminal, Pine Labs and RR Kabel witnessed strong buying interest from market participants. Among stocks hitting 52-week highs included Aegis Vopak Terminal, JSW Infrastructure, Shyam Metallics, Welspun India, Paytm, Ipca Labs and Laurus Labs, while Vedanta hit its 52-week low.
HDFC Bank announced that it is seeking shareholders' approval to raise up to ₹60,000 crore through private placements of Additional Tier-I (AT-I) bonds, Tier-II bonds, and long-term infrastructure bonds. As reported by The Hindu BusinessLine, NTPC's board approved an investment of ₹20,456.7 crore for the development of the 1,600 MW Lara Super Thermal Power Project Stage-III in Chhattisgarh. Additionally, Sterlite Technologies announced a major legal victory on Friday, July 10, confirming that the European Patent Office (EPO) Technical Board of Appeal has revoked Fujikura Ltd.'s European Patent EP 3796060 in its entirety, effectively ending the patent dispute between the two companies. Bharti Airtel announced a ₹20,000 crore investment in non-banking financial company Airtel Money while its data centre Nxtra recently raised $1 billion (about ₹9,500 crore) as part of its plan to build 1 gigawatt capacity. SAIL and Indonesia-based PT Krakatau Steel are exploring a stainless steel project with a capacity of 500,000 tonnes to 1 million tonnes under a proposed joint venture.
