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Supported by Reliance, HDFC Bank, and Bharti Airtel, Nifty 50 crossed 25,000, and Sensex surpassed 82,000. Both indices ended flat despite new highs.

Tata Motors reported a 74% YoY increase in consolidated net profit to Rs 5,566 crore for Q1 June 2024, slightly above the Street estimate of Rs 5,486 crore. Revenue rose 6% YoY to Rs 1.08 lakh crore but fell short of the estimated Rs 1.15 lakh crore. The company achieved an EBIT of Rs 9,100 crore with an EBIT margin of 8.4%, up 30 basis points YoY.

Max Healthcare Institute on Thursday said its profit after tax rose marginally to Rs 295 crore for the first quarter ended June 30, 2024. The healthcare firm had reported a profit after tax of Rs 291 crore in the April-June quarter of last fiscal.

Total income rose to Rs 2,024.5 crore in the April-June period of 2024-25 fiscal year from Rs 1,966.3 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday.

Dabur Q1 Results: The company had posted a net profit of Rs 463.88 crore in the year-ago period. The revenue from operations for the reported quarter saw a jump of 7% to Rs 3,349.11 crore. It was Rs 3,130.47 crore in the corresponding quarter of the previous financial year. The stock was trading at Rs 645.05 on the NSE, a gain of 1.47% over Wednesday’s closing price.

So, on account of the growth on the digital, we expect that the earnings should be about 25% plus for FY25. So, it is not a one-off item for the quarter one. We expect the momentum to continue on the digital side.

The company also reported total domestic sales of 70,161 units in July 2024, marking an 11% YoY decline compared to 78,844 units sold in July 2023.

The domestic brokerage firm in its report has stated that major white goods and durables companies have raised the product prices by 2%-4% across the segments since the prices of major commodities increased in June-July period on a YoY basis. However, there is a minimal impact on volumes due to strong demand trends.

Asian currencies were mostly higher on the day but the offshore Chinese yuan fell 0.3% to 7.24. The RBI likely sold dollars, via state-run banks, to support the rupee, traders said.

But I would personally prefer remaining invested because as long as the companies are performing well, whether they perform or whether they do not perform for the next two quarters, I think is fine as long as the overall trajectory in the next two to three years is probably significantly higher from here.