Equity Markets & Sector News Update -July 29, 2025

Market Sentiment & Macro
• The markets are ending July on a weak note: Nifty on track for worst monthly performance since 2019, with earnings, FII outflows, and stalled trade talks weighing.
• Despite global cues turning moderately positive, domestic caution dominates ahead of key earnings from sectors such as auto, banking,

FMCG, metals and infrastructure.
• Q1 earnings growth is modest, revenues rising 4–6% (against ~7% earlier), reflecting a slowdown across sectors.

Sector Performance at a Glance

Capital Markets –1.1%
Defence –1.7%
Energy, Manufacturing, Cement –0.3% to –0.4%
Consumer Durables, Auto Ancillaries –0.5% to –0.6%
Construction, Electronics –2.3% to –3.2%

Key Themes for Investors & Traders
• Banking stocks remain sensitive to credit quality and loan loss provisioning—watch Kotak, Axis, SBI, IndusInd closely.
• IT stocks face headwinds: earnings disappointments, mass layoffs, and litigation pressure are eroding confidence.
• Infra and energy firms like L&T, Bharat Electronics, NTPC Green may outperform if Q1 profits surprise positively.
• Realty remains vulnerable in the short term given weakening demand signals from the white-collar tech workforce.

Financial & Banking
• FII Outflow & Trade Concerns: Foreign investors net sold nearly ₹60,800 crore (~$700M) — the steepest outflow since May 30 — while India-US trade talks remain stalled, weighing on sentiment.
• Banks show mixed earnings: Weak Q1 results from Kotak Mahindra and Axis Banks hit sentiment, while IndusInd Bank returned to profit albeit with worsening asset quality.
• State Bank of India held up relatively well, outperforming peers, though it still slid ~1.2%.

Infrastructure & Engineering
• Q1 results from L&T, NTPC, RailTel, Mazagon Dock, Bharat Electronics, Asian Paints are in focus today, which may set tone for infra and capital goods sectors.
• PNC Infratech is in spotlight after winning an order worth ₹2,957 crore.

Energy & Utilities
• NTPC Green Energy and Waaree Energies posted strong Q1 revenue and profit growth.
• Broader energy space remains under stress as sectoral earnings disappoint and macro sentiment dampens demand prospects.

IT & Technology
• TCS initiated its largest layoff in history, cutting over 12,000 jobs (~2% of workforce), citing business realignment—not AI disruption.
• Clorox has sued Cognizant for $380M over a cyberattack, part of a series of controversies including a TCS data breach; IT sector confidence is visibly fragile.

Real Estate & Consumption
• Real estate stocks faced a sharp selloff, triggered by worries over job cuts at TCS hurting demand from software professionals. Lodha Developers declined ~6.3%, Godrej Properties ~5.4%.
• Macro headwinds are building: delayed trade deals, rising FII outflows, and elevated uncertainty could influence near-term technical levels.

Q1FY26 Corporate Results and Highlights

Energy, Utilities & Gas
Adani Total Gas (Standalone, QoQ)
• Revenue: ₹1,379 Cr (↑2.8%)
• EBITDA: ₹293 Cr (↑10.1%)
• EBITDA Margin: 21.3% (vs 19.9%)
• Net Profit: ₹165 Cr (↑6.9%)

GAIL (India) (Standalone, QoQ)
• Revenue: ₹34,768.93 Cr (↓2.6%)
• EBITDA: ₹3,333.67 Cr (↑4%)
• EBITDA Margin: 9.6% (vs 9%)
• Net Profit: ₹1,886.34 Cr (↓8%)

NTPC Green Energy (Consolidated, YoY)
• Revenue: ₹680 Cr (↑17.6%)
• EBITDA: ₹604 Cr (↑17.7%)
• EBITDA Margin: 88.7% (flat)
• Net Profit: ₹221 Cr (↑59%)

Financial Services & Banking
IndusInd Bank (Standalone, QoQ/YoY)
• Net Interest Income: ₹4,640 Cr
– ↓14% YoY; ↑52% QoQ
• Operating Profit: ₹2,567 Cr
– ↓35% YoY; ↑623% QoQ
• Provisions: ₹1,760 Cr (↓30% QoQ)
• Net Profit: ₹604 Cr
– ↓72% YoY; ↑126% QoQ

Aditya Birla Capital
• Allotted 147 Non-Convertible Debentures aggregating ₹147 Cr via private placement.

Centrum Capital
• Clarified that its preferential issue price of ₹28.52/warrant is not below SEBI’s floor price.

Industrials & Infrastructure
Mazagon Dock Shipbuilders (Consolidated, YoY)
• Revenue: ₹2,625.59 Cr (↑11.4%)
• EBITDA: ₹302 Cr (↓53%)
• EBITDA Margin: 11.5% (vs 27.2%)
• Net Profit: ₹452 Cr (↓35%)

Chemicals & Specialty Materials
PCBL Chemicals
• Incorporated PCBL Chemical USA with 1,000 equity shares ($1/share) to expand in North America.

Metals, Recycling & Manufacturing
Gravita India (Consolidated, QoQ)
• Revenue: ₹1,040 Cr (↑0.3%)
• EBITDA: ₹101 Cr (↑9.2%)
• EBITDA Margin: 9.7% (vs 8.9%)
• Net Profit: ₹93.3 Cr (↓2%)

Pharmaceuticals
Torrent Pharmaceuticals (Consolidated, YoY)
• Revenue: ₹3,178 Cr (↑11.2%)
• EBITDA: ₹1,032 Cr (↑14.2%)
• Margin: 32.5% (vs 31.6%)
• Net Profit: ₹548 Cr (↑19.9%)
• Geography-wise Growth:
o India: ↑11% (focus therapies)
o Brazil: ₹218 Cr (↑11%)
o Germany: ₹308 Cr (↑9%)
o US: ₹308 Cr (↑19%)

Paper & Packaging
JK Paper (Consolidated, YoY)
• Revenue: ₹1,674 Cr (↓2.3%)
• EBITDA: ₹247 Cr (↓12%)
• Margin: 14.8% (vs 16.4%)
• Net Profit: ₹81 Cr (↓42%)
• Strategic Move: Approved acquisition of 72% in Borkar Packaging @ ₹125.46/share.

Renewables & Solar
Waaree Energies (Consolidated, YoY)
• Revenue: ₹4,425.83 Cr (↑29.8%)
• EBITDA: ₹997.32 Cr (↑80.5%)
• Margin: 22.5% (vs 16.2%)
• Net Profit: ₹745.2 Cr (↑89.1%)
• Operational Highlight: Highest-ever module production of 2.3 GW in the quarter.