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Informist, Monday, Jul. 21, 2025

By Gopika Balasubramanium

MUMBAI – Benchmark equity indices began the week on a positive note, closing higher on Monday, primarily due to gains in heavyweight banking stocks such as HDFC Bank and ICICI Bank. Stock-specific actions dominated the market rather than a broader trend. Eternal and UltraTech Cement announced their earnings for the June quarter during market hours. 

The Nifty 50 closed at 25090.70 points, up 122.30 points or 0.5%. The index closed above 25000 points due to strong buying interest in shares of select private banks. The BSE Sensex closed at 82200.34 points, up 442.61 points or 0.5%. The indices closed higher after two consecutive sessions of losses. Among the broader indices, mid-cap ones fared better compared with benchmark indices. All the mid-cap indices--Nifty Midcap 50, Nifty Midcap 100, and Midcap 150 closed 0.6% higher each. The Nifty Smallcap 100 closed marginally lower while the Nifty Smallcap 50 ended 0.2% higher. 

Eternal was the top gainer on the Nifty 50 index on Monday. The company's shares jumped 8% to INR 277 after it announced its earnings for the June quarter. However, the stock declined from its highs and closed 5.6% higher at INR 271.70. Although the company's consolidated net profit for the June quarter fell short of estimates, its revenue from operations exceeded expectations. The company's net profit plunged 90%, mainly due to a rise in operating costs. At the same time, its revenue for the June quarter increased 70% on year. The company's revenue from its core quick commerce vertical, Blinkit, more than doubled on year.

Shares of UltraTech Cement, the other Nifty 50 constituent to report results Monday, briefly slipped into the red after the results. The stock rebounded from its lows to close 0.6% higher at INR 12,577. The company's earnings exceeded expectations, with its operating margin improving significantly, mainly due to a significant decline in costs. The company's net profit rose 49% on year while revenue increased 13%. 

Heavyweights ICICI Bank and HDFC Bank gained the most among the 50-stock index constituents as they posted higher-than-expected earnings for the June quarter. ICICI Bank ended 2.8% higher at INR 1,465.80 and HDFC Bank ended 2.2% higher at INR 2,000.50. Brokerages were bullish on both banks and retained 'buy' or equivalent ratings on them. Brokerages expect the net interest margin to be under pressure in Jul-Sept. In the June quarter, ICICI Bank clocked a better-than-expected interest margin, while that of HDFC Bank declined as it repriced its loan book, which is linked to the repo rate more quickly than its peers. For HDFC Bank, brokerages expect the NIM to improve in the second half of the current financial year.  

Meanwhile, Reliance Industries closed 3.2% lower as the company's June quarter earnings disappointed the Street in some aspects. Macquarie said growth in the company's retail and fuel refining business missed its view, but it was bullish on the guidance provided by the company. Almost all brokerages said the company's share price will be under pressure for the near term. "Reliance (Industries) can fall up to INR 1,400 and only then buying interest will be there," a technical analyst at a domestic brokerage said. 

Among other stocks, Mangalore Refinery & Petrochemicals closed 6.7% lower. Intraday, the stock had fallen over 8% to a near one-month low of INR 136.77 after it reported a loss in the June quarter compared to a profit in the year-ago period. Mastek ended 7% higher and was the top gainer of the Nifty 500 index. Intraday, the stock rose 13% to a near six-month high after both its top and bottom lines rose sequentially in the June quarter. 

Meanwhile, shares of Tilaknagar Industries closed 5.6% higher at INR 418.80. The stock fell from its intraday high after Informist reported that Andhra Pradesh police had named the company in an alleged liquor scam. It had touched the highest level in over six months earlier in the day. 

* Of the Nifty 50 stocks, 31 rose and 19 fell

* Of the Sensex stocks, 17 rose and 13 fell

* On the NSE, 1,490 stocks rose, 1,481 fell, and 104 were unchanged

* On the BSE, 1,959 stocks rose, 2,188 fell, and 180 were unchanged

* Nifty Financial Services: up 1.6%; Nifty Private Bank: up 1.3%; Nifty Oil & Gas: down 1.1%

BSE                                               NSE

Sensex: 82200.34, up 442.61 points or 0.5%        Nifty 50: 25090.70, up 122.30 points or 0.5%

End

Edited by Saji George Titus

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