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The flagship company of the Aditya Birla launched its paints operations ‘Birla Opus’ towards the end of the March quarter, and April-June was its first quarter of full operations. The company has spent Rs 7,795 crore on its paints business as of June-end, approximately four-fifth of the total planned expenditure for these operations.

At a standalone level, the paint-maker’s sales rose 2.4% on year to Rs 2,806.3 crore, but net profit declined by more than 6% to Rs 305.5 crore. Berger Paints, which is among the largest paint-makers in the country, improved its market share to 20.9% during the quarter, up from 19.7% in the previous fiscal.

The Mumbai-based drug maker reported a net loss of Rs 136 crore in Q1FY25. Revenue rose 14% year-on-year (y-o-y) to Rs.747 crore in Q1FY25 compared to Rs.658 crore in Q4FY24.

Sometimes positions or stocks owned for a longer period are sold either to book profit or to exit it in anticipation of impending bearishness

The pizza company saw a 10% year-over-year increase in operational revenue during the quarter, reaching Rs 1,439.6 crore, primarily driven by 8.5% growth in its India operations. EBITDA rose slightly by 0.7% to Rs 278.2 crore, though margins decreased by 1.8 percentage points compared to the same period last year.

Kennametal India saw an 8.3% rise in revenues, reaching Rs 302.4 crore for the June quarter, driven by the hard metal and machining solutions groups. Profit before tax climbed 48.7%.

The Nifty Auto index closed 1.72 per cent up at 25346.65.

Short covering signals a shift from extreme bearishness to bullishness

Jatin Gedia of Sharekhan observes that the Nifty, after a drop from 25,100 to 23,900, is currently in recovery mode. He predicts a potential rally towards 24,520-24,651, aligning with the 50% and 61.82% Fibonacci retracement levels. The immediate support level is anticipated at 24,200-24,150, coinciding with the 40-day moving average

The Indian rupee ended at 83.9550 against the U.S. dollar, reflecting its sixth straight weekly decline. Despite a slight uptick on Friday, corporate dollar demand and potential central bank intervention shaped its performance.