After opening the day flat, Indian share markets remained muted throughout the session and ended flat.

Benchmark indices ended flat as losses in index heavyweight ITC following its demerger update offset gains in metal stocks after China's pledge to provide policy support to aid economic recovery.

At the closing bell, the BSE Sensex stood lower by 29 points.

Meanwhile, the NSE Nifty closed up by 8 points.

Hindalco, Tata Steel, and JSW Steel were among the top gainers today.

Asian Paints, ITC, and Britannia on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,695, down by 43 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index and BSE SmallCap ended 0.3% higher.

Sectoral indices ended on a mixed note with stocks in the power sector and metal sector witnessing most of the buying.

On the other hand, stocks from the FMCG sector and realty sector witnessed selling pressure.

Shares of TVS Motors and Oberoi Realty hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a mixed note. The Nikkei ended lower by 0.1%, while the Hang Seng ended up by 4.1%. The Shanghai Composite ended higher by 2.1%.

The rupee is trading at 82.87 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 59,181 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading 0.7% higher at Rs 74,580 per kg.
 

Bajaj Auto Q1 Results

In the news from the auto sector, Bajaj Auto, on 25 July 2023, posted a 42% Rise in profit after tax (PAT) at Rs 16.6 bn in the quarter ended 30 June 2023 against Rs 11.7 bn registered in the year-ago period.

The rise in net profit for the first quarter is on the back of a favorable product mix, healthy volumes, and an increase in the average selling price (ASP) of its lineup.

The automaker's revenue from operations jumped 29% to Rs 103.1 bn in the June 2023 quarter, compared with Rs 80.1 bn in the same quarter of last year. The company claimed that the growth in its revenues is underpinned by double-digit volume growth, with the sustained buoyancy on the domestic front cushioning the weak, albeit improving export performance.

Bajaj Auto claimed that the margin improvement over the previous year was driven by dynamic price versus cost management, better foreign exchange realization, and operating leverage.

Bajaj Auto claimed that the margin improvement over the previous year was driven by dynamic price versus cost management, better foreign exchange realization, and operating leverage.

In 2023 up to 12 April, its share price has rallied 19.9%. Over the year it has climbed over 18%.

Investor sentiment around Bajaj Auto has received a boost due to falling raw material prices. So,  Is Bajaj Auto the Next Big Growth Story in the Indian Auto Industry?
 

Asian Paints Net Profit Jumps 52%

Moving on to the news from the paint sector, Asian Paints on 25 July 2023 reported total revenue of Rs 91.8 bn, rising 6.7% from Rs 86.1 bn in the year-ago quarter.

The company reported a consolidated net profit of Rs 15.7 bn for the June 2023 quarter, registering a growth of 52% from Rs 10.4 bn in the same quarter of the previous financial year.

PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] increased 36.3% to Rs 21.2 bn from Rs 15.6 bn.

Sales decreased for the international business by 1.4% to Rs 6.9 bn from Rs 7.1 bn on the back of economic uncertainty, the forex crisis, and liquidity issues in key markets of Asia and Africa.

Asian Paints is fundamentally strong and can ride out any storm, making it the 5 best long-term companies of 2023.

Asian Paints has delivered a 24% CAGR over the last thirty years. Rs 1 lakh invested in the company in 1992 would be worth over Rs 5.6 cr today, making it India's favorite stock.
 

Aurobindo Pharma gets USFDA approval

Moving on to news from the pharma sector, Aurobindo Pharma on Tuesday announced that its wholly-owned arm Eugia Pharma Specialities has received final approval from the US health regulator for its generic version of Plerixafor injection indicated for patients with certain types of cancer to prepare them for stem cell transplant.

The approval granted by the US Food & Drug Administration (USFDA) is to manufacture and market Plerixafor Injection of strengths 24 mg/1.2 mL (20 mg/mL), single-dose vial.

The product will be launched this month.

According to IQVIA data, the approved product has an estimated market size of around US$ 210 m for the 12 months ending May 2023.

The healthcare and pharma megatrend is unstoppable in India. 

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