The key domestic indices ended with modest gains on Thursday, extending gains for a second consecutive session, supported by hopes of a diplomatic breakthrough in the Middle East and a better-than-expected June-quarter earnings season. Nifty closed above the 24,600 level. PSU bank, oil & gas, and consumer durables shares advanced, while realty, media, and auto stocks declined. As per provisional closing data, the S&P BSE Sensex jumped 373.76 points or 0.48% to 78,954.76. The Nifty 50 index rose 11.35 points or 0.05% to 24,636. In the two consecutive trading sessions, the Sensex gained 0.67% while the Nifty rose 0.09%.
In the broader market, the BSE 150 MidCap Index rose 0.01% and the BSE 250 SmallCap Index added 0.25%.
The market breadth was positive. On the BSE, 2,114 shares rose and 2,160 shares fell. A total of 219 shares were unchanged.
New Listing:
Shares of MV Electrosystems ended at Rs 622.75 on the BSE, representing a premium of 46.53% as compared with the issue price of Rs 425.
The stock debuted at Rs 519, marking a premium of 22.12% to the issue price.
The stock has hit a high of Rs 622.75 and a low of Rs 518.95. On the BSE, over 17.42 lakh shares of the company were traded in the counter.
Shares of Juniper Green Energy ended at Rs 260.05 on the BSE, representing a premium of 15.58% as compared with the issue price of Rs 225.
The stock debuted at Rs 242, marking a premium of 7.56% to the issue price.
The stock has hit a high of Rs 266.15 and a low of Rs 232.10. On the BSE, over 64.87 lakh shares of the company were traded in the counter.
Initial Public Offer (IPO):
Ardee Industries received bids for 68,11,85,026 shares as against 5,84,22,516 shares on offer, according to stock exchange data at 15:20 IST on 06 August 2026. The issue was subscribed 11.66 times.
The issue opened for bidding on 05 August 2026 and will close on 07 August 2026. The price band of the IPO is fixed between Rs 50 and 53 per share. An investor can bid for a minimum of 281 equity shares and multiples thereof.
Buzzing Index:
The Nifty PSU Bank index rose 2.20% to 8,729.25. The index jumped 2.92% in the two consecutive trading sessions.
Union Bank of India (up 3.81%), State Bank of India (up 2.84%), Indian Bank (up 2.8%), Bank of Baroda (up 2.2%), Canara Bank (up 2.16%), Indian Overseas Bank (up 1.61%), Bank of India (up 1.18%), Central Bank of India (up 0.7%), Punjab National Bank (up 0.66%) and Punjab & Sind Bank (up 0.42%) jumped.
Stocks in Spotlight:
Neuland Laboratories zoomed 8.42% after the pharmaceutical company reported a stellar set of earnings for the quarter ended 30 June 2026, driven by robust revenue growth and a sharp improvement in operating margins. The company's consolidated net profit soared 962.37% year-on-year to Rs 147.67 crore in Q1 FY27 from Rs 13.90 crore in the corresponding quarter of the previous year. Net sales more than doubled, rising 119.16% YoY to Rs 641.58 crore, reflecting strong business momentum during the quarter.
Navin Fluorine International surged 13.93% after the company reported a strong set of earnings for the quarter ended 30 June 2026, driven by robust growth across its three business verticals. The company's consolidated net profit jumped 107.67% year-on-year to Rs 243.31 crore in Q1 FY27 from Rs 117.16 crore in the corresponding quarter last year. Revenue from operations rose 44.07% YoY to Rs 1,045.08 crore, reflecting healthy demand across its core business segments.
GMM Pfaudler surged 13.95% after reporting strong profit growth for the quarter ended 30 June 2026. The company's consolidated profit after tax surged 118% YoY and 47% QoQ to Rs 22 crore in Q1 FY27. Operational income increased 16% YoY but declined 2% QoQ to Rs 925 crore in the quarter ended 30 June 2026.
Biocon added 2.94% after the company reported 355% jump in consolidated net profit to Rs 141 crore in Q1 FY27 from Rs 31 crore in Q1 FY26. Revenue from operations rose by 10% year-on-year (YoY) to Rs 4,336 crore during the period under review.
Kolte-Patil Developers jumped 10.71% after the company added six society redevelopment projects across the Mumbai Metropolitan Region, with a combined estimated gross development value (GDV) of around Rs 6,000 crore. The new projects are located in Santacruz West, Andheri West (Lokhandwala), Oshiwara, Versova, Ghatkopar East and Vashi.
Cummins India fell 0.60%. The company reported largely flat earnings for the quarter ended 30 June 2026. On a consolidated basis, the company's profit after tax increased 0.9% YoY but declined 6.2% QoQ to Rs 609.30 crore in Q1 FY27. Net sales rose 17.9% YoY and 13.8% QoQ to Rs 3,426.01 crore in the quarter ended 30 June 2026. Total income increased 17.2% YoY and 12.9% QoQ to Rs 3,563.35 crore.
Garware Technical Fibres rose 5.43% after the company reported healthy earnings growth for the quarter ended 30 June 2026. The company's consolidated profit after tax increased 21.5% YoY and 12.9% QoQ to Rs 64.60 crore in Q1 FY27. Net sales rose 31.4% YoY and 13.1% QoQ to Rs 482.37 crore in the quarter ended 30 June 2026. Total income increased 29.3% YoY and 13.2% QoQ to Rs 491.30 crore.
Sayaji Hotels fell 1.90% after the company's consolidated net profit tanked 95.20% to Rs 0.29 crore in Q1 FY27 as against Rs 6.05 crore posted in Q1 FY26. Revenue from operations decreased 20% year on year (YoY) to Rs 20 crore in Q1 FY27.
Whirlpool of India rose 2%. The company reported a 29.40% decline in consolidated net profit to Rs 102.88 crore in the first quarter of FY27, compared with Rs 145.73 crore in the corresponding quarter last year. However, revenue from operations increased 12.10% year on year (YoY) to Rs 2,726.75 crore in Q1 FY27.
Bharti Hexacom fell 1.53%. The company reported 23.2% rise in net profit to Rs 482 crore on a 10.9% increase in total revenues to Rs 2,510 crore in Q1 FY27 as compared with Q1 FY26. Mobile revenues increased 9.3% YoY, driven by the company's sustained focus on acquiring and retaining high-value customers. ARPU improved to Rs 259 in Q1 FY27 as compared to Rs 246 in Q1 FY26.
Global Markets:
European shares advanced on Thursday amid broader market optimism for a reopening of the Strait of Hormuz.
Asian markets ended mixed after an AI-driven rally in the previous session, while oil prices remained range-bound as investors assessed the prospects of a peace deal between Iran and the United States.
A senior Iranian source and two regional officials were quoted by the media stating that a proposed deal between Iran and Oman to help end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait of Hormuz, one of the biggest concessions yet to Iran.
Oil prices were steady in the $70-a-barrel range. Brent crude futures rose to $79.81 per barrel up 0.37%. U.S. West Texas Intermediate futures edged 0.12% up to $75.31 a barrel.
Overnight on Wall Street, the Dow closed at a record on Wednesday on signs of progress for a peace deal with Iran, while the Nasdaq saw its first decline in five sessions as SpaceX and AMD stumbled following their quarterly earnings.
The Dow Jones Industrial Average rose 263.18 points, or 0.49%, to 54,349.06, the S&P 500 lost 13.00 points, or 0.17%, to 7,723.52 and the Nasdaq Composite lost 221.55 points, or 0.83%, to 26,363.44.
Elon Musk-led SpaceX's revenue nearly doubled and operating losses narrowed in its first earnings report since going public, fueled by its booming Starlink satellite communications and AI businesses, but shares tumbled 13.6% on concerns about how long the company could maintain spending on AI-related investments such as data centers.
Shares could face additional pressure from the expiry of the stock's post-IPO lock-up period starting on Thursday.
Advanced Micro Devices forecast quarterly revenue above estimates, reflecting strong AI demand. However, shares dropped 7% as investors look for greater evidence the massive AI spending will result in faster growth.
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