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Tata Technologies Q1 Results: Despite a 1% quarter-on-quarter decline in services revenue to ₹985 crore, the company posted a robust operating EBITDA of ₹231 crore with an 18.2% margin for the June quarter. This positive performance is attributed to favourable market conditions, with the manufacturing sector continuing to invest in future-proofing technologies such as alternative propulsion systems, software-defined products and services, and smart manufacturing.

The headcount is still on the negative side, so they are not hiring aggressively as during the COVID times and the attrition is still being moderated.

ICICI Securities has increased the target price of Azad Engineering to Rs 2,450 due to promising long-term prospects.

We are also seeing that from the point of view of quarter two, the institutional sales as I mentioned and also some part of the industrial sales is something which we see an uptick.

Reliance Industries is anticipated to report Q1FY25 profit between Rs 14,999 crore to Rs 19,084 crore with revenue estimates ranging from Rs 2,31,463 crore to Rs 2,22,254 crore. Concerns arise over O2C impact on earnings due to declining refining margins.

Indian crypto exchange WazirX faces temporary withdrawal suspension due to a security breach. Multisig wallets compromised, funds moved to new address. Users advised to revoke approvals for safety. Investigation ongoing. Traders urged to stay calm and await resolution.

The company’s Lloyd business grew the highest, by 47% year-on-year to Rs 1,924 crore. Industry executives attributed the high growth of Lloyd to the all-time highest sales of air-conditioners by the industry due to a scorching summer this season.

​India’s equity asset class is looking to really do well. Having said that, if you look at the valuations basically, we have started discounting FY26 and FY27, so that basically means that we are probably headed into a phase of time correction, consolidation, probably some amount of value correction that we should be prepared for.

Sterling and Wilson Renewable Energy Ltd reported a Rs 4.83 crore net profit in the June quarter, reversing a Rs 95.32 crore loss. Total income reached Rs 927.89 crore, with expenses at Rs 913.23 crore. CEO Amit Jain emphasized shareholder value. The order book stands at Rs 2,170 crore, with net debt of Rs 97 crore.

The Nifty IT index closed 2.22 per cent up at 40010.4.