Most Asian stocks pared early losses and rose on Thursday, although persistent concerns over slowing economic growth and higher interest rates kept markets volatile and still limited overall gains.

Japan's Nikkei 225 and TOPIX indexes moved in a flat-to-low range on Thursday as a rebound over the past two days ran dry.

US stocks slid on Wednesday, failing to extend Tuesday's rebound that snapped a three-day losing streak for the major averages.

Here's a table showing how US stocks performed on Wednesday:

Source: Equitymaster

At present, the BSE Sensex is trading 192 points lower and NSE Nifty is trading 46 points lower.

Cipla, Titan, and ITC are among the top gainers today.

ONGC, Infosys, and JSW Steel the other hand are among the top losers today.

Broader markets are trading mixed. The BSE Midcap index is trading 0.3% lower and the BSE Smallcap index is trading 0.3% higher.

Sectoral indices are trading mixed today, with stocks in the realty sector, FMCG sector, and healthcare sector witnessing buying speer. Meanwhile, stocks in the power sector, oil & gas sector, and metal sector witnessing selling.

The rupee is trading at Rs 83.95 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 68,955 per 10 grams today.
 

NHPC Q1 Results

State-owned hydropower giant NHPC Ltd on Wednesday (7 August) reported a 1.2% year-on-year (YoY) increase in net profit at Rs 11.1 bn for the first quarter that ended 30 June 2024.

In the corresponding quarter of the previous fiscal, NHPC posted a net profit of Rs 10.1 bn, the company said in a regulatory filing. The company's revenue from operations dipped 2.3% to Rs 26.9 bn as against Rs 27.6 bn in the corresponding period of the preceding fiscal.

At the operating level, EBITDA falls 2.8% to Rs 14.6 bn in the first quarter of this fiscal over Rs 15 bn in the corresponding period in the previous fiscal.

EBITDA margin stood at 54.3% in the reporting quarter compared to 54.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortization.
 

Abbott India Q1 Results

Drug firm Abbott India Ltd on Wednesday (August 7) reported a 13% year-on-year (YoY) increase in net profit at Rs 3.3 bn for the first quarter that ended 30 June 2024.

In the corresponding quarter, Abbott India posted a net profit of Rs 2.9 bn, the company said in a regulatory filing. Abbott's revenue from operations grew 5.3% to Rs 15.6 bn against Rs 14.8 bn in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rises 10.2% to Rs 3.9 bn in the first quarter of this fiscal over Rs 3.6 bn in the year-ago period.

The EBITDA margin stood at 25.1% in the reporting quarter against 24% in the first quarter of FY24. EBITDA is earnings before interest, tax, depreciation, and amortization.
 

Balaji Amines Q1 Profit Down 33%

Balaji Amines Ltd. reported a 32.7% fall in its net profit on a yearly basis for the first quarter of this financial year, missing street expectations.

The chemical manufacturing company reported a bottom line of Rs 456 m in the quarter ended June, as compared with Rs 677 m in the same quarter of the previous fiscal, according to its stock exchange notification.

Its revenue fell by 17% year-on-year to Rs 3.9 bn.

Operating income, or earnings before interest and tax depreciation and amortization, fell 32.6% every year to Rs 660 m, while the EBITDA margin contracted to 17.2% from 21.1% in the corresponding quarter of the last fiscal.

TVS Supply Chain Secures New Contract

TVS Supply Chain Solutions Ltd on Wednesday (7 August) said it had secured a new business contract from JCB in India for managing their in-plant warehousing and logistics operations at their facility in Vadodara, Gujarat, for three years.

TVS Supply Chain Solutions' in-plant logistics services for JCB's Vadodara plant will comprise end-to-end warehouse management, from unloading and put-away of parts to picking and lineside feeding.

The company will deploy material handling equipment (MHEs) and employ close to 110 personnel for this contract. JCB's Vadodra plant manufactures fabrications and components for JCB's plants globally.

JCB has been a pivotal partner in the company's growth journey, and they are thrilled to continue this collaboration. Securing this contract underscores their commitment to delivering process excellence and innovative, value-driven solutions.

With this new deal, the company is excited to offer an extensive suite of in-plant warehousing services along with cutting-edge technology solutions to further drive business transformation for JCB in India.

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