Indian stocks began trading at an all-time high on Monday, driven by gains in the banking sector following positive quarterly results from major lenders.

Indian stocks began trading at an all-time high on Monday, driven by gains in the banking sector following positive quarterly results from major lenders.

At the closing bell, the BSE Sensex stood higher by 23 points.

Meanwhile, the NSE Nifty closed higher by 1 point.

Nestle, ICICI Bank, and Titan are among the top gainers today.

Tech Mahindra, NTPC, and BPCL on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,939, down by 12 points, at the time of writing.

The BSE MidCap index ended 0.8% higher and the BSE SmallCap index ended 1.2% higher.

Sectoral indices are trading mixed, with stocks in the auto sector, oil & gas, and realty sector witnessing the most buying. Meanwhile, stocks in the telecom sector and IT sector witnessed selling pressure.

Shares of Info Edge, Pfizer, and TCS hit their respective 52-week highs today.

The rupee is trading at 83.73 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 68,875 per 10 grams.

Meanwhile, silver prices were trading 0.9% higher at Rs 82096 per 1 kg.
 

BEL Q1 Results

Moving on to news from the defense sector, shares of Bharat Electronics Ltd., the Navratna defense PSU, surged as much as 5% on Monday after the company released its quarterly results for the April-June period.

For the June quarter, the company's net profit increased by 46% year-on-year to Rs 7.8 bn.

Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) also saw a 41% jump from the year-ago quarter to Rs 9.4 bn.

EBITDA margin for the quarter expanded by over 3.3% to 22.3% from 19% last year.

The company said in an exchange filing that the order book position for the company on 1 July 2024, stood at Rs 767.1 bn.

Formed under the Ministry of Defence, Bharat Electronics is a multi-product, multi-technology conglomerate that provides products and systems to the defense sector.

It has a wide product portfolio, including radars, fire control systems, missile systems, communication systems, tank electronics, and gun upgrades.

Adani Wilmar Clocks Highest Ever Net Profit

Moving on to news from the FMCG sector, Adani Wilmar zoomed 6.9% to Rs 348.1 after the company reported a consolidated net profit of Rs 3.1 bn in Q1 FY25 as against a net loss of Rs 0.8 bn posted in Q1 FY24.

The company achieved revenue of Rs 14,169 crore in Q1 FY25, driven by 12% YoY volume growth.

In Q1 FY25, the edible oil segment revenue grew 8% YoY to Rs 106.5 bn, with an underlying volume growth of 12% YoY.

This represents the second consecutive quarter of double-digit volume growth, increasing market share.

The Food & FMCG segment revenue in Q1 FY25 grew by 40% to Rs 15.3 bn, with an underlying volume growth of 42% YoY.

While Oleo and Castor Oil in the Industry Essential segment experienced strong double-digit volume growth, a decline in the oil meal business impacted the segment's overall growth.

Strong business momentum has led to increased market share in key product categories.

In edible oils, the ROCP (Refined Oil Consumer Pack) market share of AWL increased by 60bps YoY to 19.0% on a moving annual total (MAT) basis, whereas in Wheat flour, the market share increased by 0.9% YoY to 5.9%. Additionally, branded export volume has surged by 36% YoY.

The company recorded its highest-ever EBITDA of Rs 6.2 bn, up by 375% YoY, in Q1 FY25 on the back of stability in edible oil prices.

The stability in edible oil prices augurs well for our business, allowing us to deliver strong profits over the past three quarters.
 

Why This Reliance Backed Stock Rally 52% in 9 days?

Moving on to news from the food & tobacco space, shares of Lotus Chocolate Company were locked in the upper circuit for the eighth straight trading day, up 5 percent at Rs 1,035.1 on the BSE on Monday.

As many as 120,000 shares changed hands so far as compared to sub 10,000 shares traded in the past two weeks on the BSE.

There were pending buy orders for 11,970 shares on the exchange, data shows. Lotus Chocolate Company trades under the 'X' category. Companies falling in the X sub-group are traded only on the BSE and not on the NSE.

Lotus Chocolate Company is primarily engaged in the manufacturing of Chocolates, Cocoa Products, and other similar products in nature.

Reliance Consumer Products Limited (RCPL), the fast-moving consumer goods (FMCG) arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), acquired a controlling stake in the Lotus Chocolate Company on 24 May 2023.

Meanwhile, the recent rally in the stock price of Lotus Chocolate Company is on the back of strong earnings, as the company reported a profit of Rs 94.1 m for the June 2024 (Q1FY25) quarter.

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