ONGC, Axis Bank, Hero Moto Corp, JSW Steel, and Infosys are the top gainers on NSE Nifty 50 index whereas the top laggards include NTPC, Adani Ports, Dr Reddy’s Lab, Apollo Hospitals, and Britannia Industries.

Man Industries (India) shares surged 5.42% on the NSE, trading at Rs 452.60, following the board’s approval to set up a new plant in Dammam, Saudi Arabia, with an estimated project cost of Rs 600 crore.

Rategain Travel Technologies’ stock traded at Rs 793.60 on the NSE, down by 1.63% after the company reported a consolidated net profit of Rs 45.3 crore for the quarter ended June 2024, compared to Rs 25 crore in the same quarter last year.

Shares of National Aluminium Company Ltd. (NALCO) dropped by over 4% on Monday following the release of its quarterly results for the April-June period. Despite reporting a 72.1% year-on-year increase in net profit to Rs 601.2 crore, the figure fell short of the Bloomberg consensus estimate of Rs 874 crore, leading to the decline in share price.

Shares of Inox Wind Ltd. surged by as much as 17% on Monday, crossing the Rs 200 mark after the company announced its June quarter results. This significant rise brings the stock’s total gain to 55% in 2024.

Shares of Indian Railway Finance Corporation (IRFC) saw strong buying interest during Monday’s trading session ahead of the company’s Q1 results announcement. The stock opened with an upside gap at Rs 180 per share on the NSE and reached an intraday high of Rs 186.50, marking a 4% intraday gain.

Gallantt Ispat’s stock surged 5%, hitting its upper circuit at Rs 343.50, after the company reported a significant increase in standalone net profit for the quarter ended June 2024. The company recorded a net profit of Rs 121.87 crore, up from Rs 30.70 crore in the corresponding quarter last year.

Commenting on the Dollar Rupee Outlook Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas We expect Rupee to trade with a slight negative bias on strength in the US Dollar and rising global crude oil prices. Selling pressure from foreign investors and geopolitical tensions in the Middle East may further pressurise the Rupee.

Choudhary also added that However, positive global markets may support Rupee at lower levels. Traders may take cues from India’s CPI and IIP data. Investors may remain cautious ahead of US CPI, retail sales and consumer confidence data from the US this week. USDINR spot price is expected to trade in a range of Rs 83.75 to Rs 84.25.

Borosil Renewables’ stock traded at Rs 503.15 on the NSE, down by 2.31%, after the company reported a standalone net loss of Rs 3.46 crore for the quarter ended June 2024. This marks a significant decline compared to the profit of Rs 13.67 crore recorded in the same quarter last year.

Nuvama’s latest note indicates that should SEBI approve futures and options (F&O) inclusion for Zomato Ltd and Jio Financial Services (JFS), these stocks would be more likely to enter the Nifty 50 index. 

The base case scenario suggests significant market impacts, with Trent Ltd potentially attracting passive inflows of around $500 million, and Bharat Electronics (BEL) seeing inflows of approximately $440 million.

Read More: Trent, Zomato, BEL may potentially enter Nifty; Nuvama says next Index rejig may see them replace LTIMindtre, Divi’s Labs

Shares of RVNL surged 9.09% to Rs 564.85, leading the gains among railway stocks. Railtel rose by 2.24% to Rs 479.95, while IRFC and IRCON saw increases of 3.05% and 3.04%, respectively.

On the other hand, RITES shares fell 0.66% to ₹680. Jupiter Wagons and Titagarh Rail Systems posted gains of 1.70% and 2.35%, trading at Rs 565 and Rs 1,380.35, respectively.

Read More: Railway stocks IRFC,RVNL, IRCON surge 3-9% after Cabinet nod for 8 new railway projects worth Rs 24,657 crore

SBC Exports Limited has secured a repeat export order valued at approximately Rs 45 crore (US $5.36 million) for the supply of various garment articles, including T-shirts, trousers, and shorts, from Gawgee Brothers Wholesalers Co. LLC, a Dubai-based textile company. Following the announcement, SBC Exports’ stock surged 3.91% on the NSE, trading at Rs 29.79.

The stock of Axis Bank rose 25 to an intraday high of Rs 1,165.70 from its previous close of Rs 1,142.75. The stock rose to be the top gainer in the Nifty 50. Share of Axis Bank touched its 52-week high of Rs 1,339.65 on July 12, 2024. The upper band for the stock is kept at Rs 1,257.

The stock of Sun TV Networks fell more than 12% to an intraday low of Rs 805 from its previous close of Rs 916.85. The stock fell a day after the company’s net profit declined to Rs 559.58 crore, down 5.48% on year in Q1 FY25. Also, its revenue from operations declined by 2.72% on year to Rs 1,312.40 crore in the same period aforementioned.

Shares of JVNL rose 10.7% to an intraday high of Rs 573.40 from its previous close of Rs 518.15. The stock has a 52-week high of Rs 647, which it touched on July 15, 2024. The upper circuit for the stock is placed at Rs 621.75.

“Spot gold closed with a gain of 0.18% at $2431 on Friday, though it was almost 0.50% down on a weekly closing basis. The metal was up as the ten-year US yields and the US Dollar Index dipped. The ten-year US yields closed nearly 1.25% lower at 3.94% on Friday. The US Dollar Index closed with a loss of around 0.13% at 103.15. The Fed Governor Michelle Bowman said that the US inflation was elevated and the job market was still tight, so won’t be comfortable with cutting rates in the September meeting. Gold is up today for the third straight day. Traders are expected to buy dips ahead of US CPI data to be released on August 14. However, caution is advised as the Chinese demand for gold is weak currently,” said Praveen Singh – Associate Vice President of Fundamental Currencies and Commodities at Sharekhan by BNP Paribas.

HDFC Bank, Axis Bank, and Kotak Mahindra Bank were the top three contributors to the Nifty 50 on August 12.

Courtesy: NSE

Oil India reported a decline in PAT on account of lower other income. The company has guided for a production target of 4mmt of oil and 5bcm of gas by FY26. “On a conservative basis, we build in 8% and 16% volume CAGR over FY24-26 to 3.9mmt of oil and 4.3bcm of gas, respectively, by FY26. Net oil realization at $75/bbl continues to remain at comfortable levels and gas realization would rise by $0.25/mmBtu to $6.75/mmBtu from 1st April 2025. We maintain a ‘Buy’ rating, valuing the standalone business at 12x FY26 adj EPS and adding the value of the investment in NRL to arrive at our target price of Rs 766,” said Swarnendu Bhushan, Co-head of Institutional Equities of PL Capital at Prabhudas Lilladher.

Shares of OLA Electric rose 20% to freeze in its upper circuit of Rs 80.36. This is the second straight session when stocks of the EV company have hit the upper circuit of 20%. The stock is up 44% from its issue price of Rs 76 per equity share. The company opened its IPO to investors on August 02 and closed the bidding on August 06 to raise a total of Rs 6,145.56.

Shares of Jubilant FoodWorks rose as much as 9.1% to hit a fresh 52-week high of Rs 653.40 from its previous close of Rs 598.90. The surge in the stock prices came a day after the company released its Q1 results. Its net profit in Q1 of FY25 rose to Rs 56 crore and revenue rose 45% on year to Rs 1,933 crore in the same time frame.

The Nifty 50 was up 54 points or 0.22% at 24,421 while the Sensex was up 214.27 points or 0.27% at 79,920.

Shriram EPC FZE, a wholly-owned subsidiary of SEPC, has received a notice to commence work on a cement project in Tashkent, Uzbekistan. The project, awarded by JV OHONGORON SEMENT MS LLC, has a total cost exceeding $325 million (over Rs 2,700 crore at the current exchange rate). Following the announcement, SEPC’s stock rose by 3.80%, trading at Rs 19.11 on the NSE.

Godrej Properties has acquired approximately 90 acres of land in Khalapur, Raigad, Maharashtra. Following the announcement, the stock experienced a decline of 0.59% and is trading at Rs 2,908.30 on the NSE.

Shares of Suzlon Energy are locked in an upper circuit of 5% for the fourth straight session, reaching levels of Rs 80, the highest since January 2010Come from Sports betting site VPbet. The stock has doubled in value in 2024, delivering returns of over 110%. On Friday, Suzlon Energy’s market capitalization surpassed Rs 1 lakh crore.

Shares of Ola Electric Mobility surged past Rs 100 on Monday, hitting the upper circuit limit of 20% for the second consecutive session. The stock also ended at a 20% upper circuit on Friday, marking its debut on the stock market.

Crude oil futures saw gains on Monday morning following heightened tensions in West Asia. The October Brent oil futures were trading at $79.80, up by 0.18%, while September WTI (West Texas Intermediate) crude oil futures were at $77.10, an increase of 0.34%. On the Multi Commodity Exchange (MCX), August crude oil futures were trading at Rs 6,477, up 0.51% from the previous close of Rs 6,444. September futures were trading at Rs 6,387, marking a 0.44% rise from the previous close of Rs 6,359.

NBCC (India) has secured new work orders totaling Rs 719.97 crore, leading to a 1.26% rise in its stock price. The shares are currently trading at Rs 187.11 on the NSE.

The Nifty 50 and Sensex have turned positive, with HDFC Bank, Axis Bank, Infosys, Kotak Mahindra Bank, and Bharti Airtel being the leading contributors to the Nifty 50’s gains. Among the top gainers in the Nifty 50 are JSW Steel, HDFC Bank, Axis Bank, Hindalco, and Tata Motors.

Shares of Balkrishna Industries dropped by as much as 9% to a day’s low of Rs 2,753.05 during Monday’s trading session. The decline marks the third consecutive session of losses for the company, despite reporting Q1 earnings that were in line with expectations.