Published on: August 6, 2025
In a landmark move, the Mahindra Group has unveiled a Rs 500 crore one-time Employee Stock Ownership Plan (ESOP) grant as a Diwali bonus for over 14,000 employees across three key subsidiaries—Mahindra & Mahindra (auto and farm sectors), Mahindra Electric Automobile, and Mahindra Last Mile Mobility. Marking a first in India, this initiative replaces traditional cash bonuses with equity-based incentives and includes shopfloor workers, offering them a stake in the company’s growth.
The ESOPs will be issued as Restricted Stock Units (RSUs) and are aimed at employees who have completed at least 12 months of continuous service and are on the permanent payroll. The move comes amid robust financial performance driven by popular models like the Thar, contributing to a 12-fold surge in M&M’s stock over the past five years.
This is also the first time the group is extending ownership benefits to its blue-collar workforce, signaling a broader shift in corporate culture. While high-income earners may be taxed on eventual gains from selling their shares, shopfloor workers below the taxable income threshold will be exempt.
Mahindra’s bold ESOP push follows a precedent set by the JSW Group’s similar Rs 1,000 crore programme in 2021 and could potentially spark a wider transformation in how Indian companies reward employees—by making them true stakeholders in their companies’ success.
Published on: August 6, 2025
Bharti Airtel reported a strong set of numbers for Q1FY26, with consolidated net profit rising 43% year-on-year to Rs 5,948 crore, although slightly below analyst expectations of Rs 6,400 crore. Revenue from operations stood at Rs 49,463 crore, marking a 28% YoY growth and surpassing the street estimate of Rs 48,880 crore. Sequentially, revenue grew 3.3%, supported by a robust domestic performance and a recovery in the Africa business.
The average revenue per user (ARPU) increased sharply to Rs 250, compared to Rs 211 a year ago, reflecting improved realisations and higher smartphone penetration. Net customer additions hit a record 9.39 lakh in the quarter, driven by solid growth in the FTTH and FWA segments.
India business revenue rose 29% YoY to Rs 37,585 crore, led by a 21.6% jump in mobile services and a 25.7% rise in the homes segment. However, Airtel Business revenue declined 7.7% YoY due to continued exits from low-margin areas, and Digital TV revenues dipped 1.8% YoY. Passive infrastructure services grew 4.3% QoQ with 2,500 new sites added.
On the profitability front, consolidated EBITDA stood at Rs 28,167 crore with a healthy margin of 56.9%. India EBITDA rose to Rs 22,352 crore, with margins improving by 598 basis points YoY to 59.5%.
Following the results, Bharti Airtel shares climbed 3.5% in early trade to hit Rs 1,520.10 before closing 0.8% higher at Rs 1,929.75 on the BSE.
Published on: August 6, 2025
State Bank of India (SBI), the country’s largest lender, is expected to report a subdued operating performance for the April-June quarter (Q1 FY26) as it grapples with margin compression and seasonal weakness in fee income. Analysts polled by Bloomberg project a standalone net profit of Rs 16,964 crore, marking a marginal 0.4% year-on-year decline. Net interest income (NII) is likely to fall over 3% to Rs 42,430 crore, while net interest margin (NIM) may contract to 2.85% from 3.15% in the previous quarter.
Brokerages attribute the pressure to falling yields on advances and a lag in deposit repricing, even as credit growth remains in double digits. Kotak Institutional Equities expects an 8% year-on-year decline in operating profit, though gains from treasury income and lower staff costs could offer some relief. Asset quality remains a silver lining, with gross NPAs likely to improve slightly and no major concerns flagged on unsecured lending. However, higher slippages from the agriculture segment are anticipated due to seasonal stress.
While SBI may not deliver a strong beat this quarter, analysts see the bank’s fundamentals as stable, with support from non-core income and controlled operating costs. Investor focus will remain on management guidance regarding margin outlook, return ratios, and growth trajectory in loans and deposits.
Published on: August 5, 2025
The August 2025 F&O series is expected to be action-packed, with Nuvama highlighting the MSCI Rejig announcement and implementation within the same month as major catalysts. On Monday, Indian equities closed higher on strong buying in auto and metal stocks, supported by a weak US dollar.
However, concerns around potential US tariffs kept gains in check. The BSE Sensex climbed 418.81 points (0.52%) to 81,018.72, while the NSE Nifty50 added 157.40 points (0.64%) to settle at 24,722.75.
Key stocks and events to watch on Tuesday, August 6, 2025:
• IPO Listings:
Aditya Infotech, maker of CP Plus surveillance systems, will debut on the bourses after raising ₹1,300 crore at ₹675 per share. The IPO saw overwhelming demand, being subscribed over 100 times.
Laxmi India Finance, a shadow lender, will also list after raising ₹254.26 crore at ₹158 per share, with moderate subscription of 1.84 times.
• Paytm in Focus:
A block deal worth ₹3,800 crore is expected in One 97 Communications (Paytm) as Alibaba-backed Antfin plans to offload its entire 5.84% stake, potentially reshaping the company’s ownership structure.
• Corporate Earnings:
Several major companies are scheduled to report Q1FY26 results, including Bharti Airtel, Adani Ports, Power Grid, Britannia Industries, Lupin, Berger Paints, Exide Industries, and more.
o Bosch posted a strong 140% YoY jump in net profit at ₹1,115.3 crore, aided by ₹556 crore in exceptional gains.
o Aurobindo Pharma reported a 10.2% drop in profit despite a 4% revenue rise.
o DLF saw an 18.1% profit rise with nearly doubled revenue and a surge in new bookings worth ₹11,425 crore.
o Siemens Energy India reported an 80% profit surge with new orders jumping 94% YoY.
o Azad Engineering and Kaynes Technology India also posted strong numbers, with the latter announcing a ₹4,995 crore investment MoU with the Tamil Nadu government.
• Corporate Actions:
Shares of Hyundai Motor, Berger Paints, Ipca Labs, and several others will trade ex-dividend today, impacting stock prices.
With a mix of IPO debuts, key block deals, corporate actions, and heavy earnings lined up, markets are likely to see significant sectoral rotation and stock-specific action on Tuesday.
Published on: August 5, 2025
Dixon Technologies has entered into a Master Services Agreement with Tech Mahindra to implement Industry 4.0 automation, Smart Factory solutions, and other software services aimed at enhancing operational efficiency and digital integration. The agreement, signed on August 4, 2025, is part of Dixon’s push to adopt advanced technologies such as automation, robotics, data analytics, and customer system integration across its operations.
Despite the announcement, Dixon shares traded flat on the BSE at ₹16,910, compared to the previous close of ₹16,988.95. The company's market capitalization stood at ₹1.02 lakh crore. The stock had hit a 52-week low of ₹10,976.65 on August 5, 2024, but has since gained 54.55% over the year and 11.36% in the past month.
Dixon Technologies, India’s largest home-grown design-focused EMS (Electronic Manufacturing Services) company, is a major player in the consumer durables, lighting, and mobile phones segment. The new partnership with Tech Mahindra is expected to bolster its position as a next-generation manufacturing leader.
Published on: August 5, 2025
Tata Motors has unveiled the all-new Adventure X Persona for its flagship SUVs, the Harrier and Safari, bringing rugged styling, cutting-edge technology, and off-road capabilities tailored for adventure enthusiasts. Priced at ₹18.99 lakh for the Harrier Adventure X and ₹19.99 lakh for the Safari Adventure X+, the variants are now open for booking with introductory prices valid until October 31, 2025.
The Adventure X variants offer segment-first features, including ADAS with Adaptive Cruise Control, a 360° HD surround view camera, Trail Response Modes (Normal, Rough, Wet), and a Land Rover-derived Command Shifter. Additional premium features include an Ergo Lux Driver Seat with memory function, a 26.03 cm Ultra-View Twin Screen System, Trail Sense Auto Headlamps, Aqua Sense Wipers, and Multi Drive Modes.
Powered by the proven 2.0L KRYOTEC diesel engine on the OMEGARC platform (based on Land Rover’s D8), the Harrier Adventure X sports R17 Titan Forged Alloys and Onyx Trail interiors, while the Safari Adventure X+ features R18 Apex Forged Alloys and Adventure Oak Interiors.
Tata Motors also updated the entire Harrier and Safari lineup with refreshed personas and color options, including a new Pure X persona for enhanced value.
Vivek Srivatsa, CCO at Tata Passenger Electric Mobility, stated that the new variants reflect Tata’s vision of merging capability with individuality and are designed to offer the most powerful and adventurous experience yet.
Published on: August 5, 2025
Bharti Airtel Ltd reported a 57.32% year-on-year jump in consolidated net profit to ₹7,421.80 crore for Q1FY26, compared to ₹4,717.50 crore in the same period last year. Revenue from operations rose 28.45% to ₹49,462.60 crore, driven by robust performance in India and a currency rebound in the Africa business.
The telecom major posted consolidated EBITDA of ₹28,167 crore with a healthy margin of 56.9%. ARPU improved to ₹250 from ₹211 in Q1FY25, reflecting better realizations and subscriber additions. Bharti Airtel's India revenue rose 29% YoY to ₹37,585 crore, with mobile revenue up 21.6%. The company added 0.7 million postpaid customers and 21.3 million smartphone data users during the quarter.
Airtel's Africa segment saw 24.9% revenue growth in constant currency, with an EBITDA margin of 48.1%. The total customer base in Africa reached 169 million. Capex for the quarter stood at ₹8,307 crore, with continued investment in mobile broadband, fiber deployment, and IPTV expansion.
Vice-Chairman & MD Gopal Vittal highlighted continued sequential growth, strong customer additions, and network expansion as key contributors to the quarter’s strong performance.
Published on: August 5, 2025
Jindal Saw Ltd. reported a subdued performance in the first quarter of FY26, with a 17.3% year-on-year decline in consolidated revenue to ₹4,084.68 crore and a 4% drop in net profit to ₹424 crore, according to its latest exchange filing. EBITDA also declined 20% to ₹670.11 crore, while margins narrowed slightly to 16.4% from 17% a year ago.
Despite the weak financials, shares of the pipe manufacturing major ended 0.43% higher at ₹210.52 on the NSE, outperforming the broader Nifty which dipped 0.3% on the day. However, the stock has dropped 27.44% over the past year and is down 32.24% year-to-date.
All three analysts covering the stock maintain a 'Buy' rating, with Bloomberg data showing an average 12-month price target implying a potential upside of 61.6%, signaling strong long-term confidence in the company’s fundamentals.
Published on: August 5, 2025
Shares of IndusInd Bank surged 2.62% to ₹824.95 on the BSE after the private lender announced the appointment of Rajiv Anand as its new Managing Director and CEO, effective August 25, 2025. Anand, a banking veteran with over 35 years of experience across retail, corporate banking, capital markets, and asset management, previously served as Deputy Managing Director at Axis Bank.
The leadership change follows a sharp 68% year-on-year drop in IndusInd Bank’s June quarter profit and lingering concerns around slowed lending and deposit growth. Analysts had set stock price targets ranging from ₹600 to ₹1,000, with near-term recovery now seen hinging on Anand’s execution.
Chairman Sunil Mehta welcomed Anand, expressing confidence in his ability to drive growth while maintaining governance standards. Meanwhile, analysts highlighted rising slippages in certain segments and a 47% YoY drop in core pre-provision operating profit, warning of continued pressure on earnings in the short term.
Published on: August 5, 2025
IndusInd Bank has named veteran banker Rajiv Anand as its new Managing Director and CEO for a three-year term starting August 25, 2025, following approval from the Reserve Bank of India (RBI). Anand's appointment comes after a turbulent period for the bank, which recently reported a ₹1,960 crore loss due to internal misaccounting in its derivatives book. The crisis led to the resignations of former MD & CEO Sumant Kathpalia and Deputy CEO Arun Khurana.
Despite the challenges, the bank has bounced back, reporting a net profit of ₹604 crore in Q1FY26. Anand, who previously served as Deputy MD at Axis Bank, was selected from a shortlist that included Rahul Shukla and Anup Saha. His appointment is seen as a crucial step in restoring stability and rebuilding investor confidence.
Published on: August 4, 2025
Shares of JSW Steel Ltd. edged higher by over 1.5% to ₹1,043.40 on Monday, August 4, following the announcement of a major ₹5,845 crore joint investment with Japan’s JFE Steel Corporation to expand cold rolled grain-oriented (CRGO) electrical steel capacity in India. This move is aimed at bolstering domestic production to meet rising demand from critical industries and reduce import dependence.
The expansion will be executed via their joint ventures—JSW JFE Electrical Steel Pvt. Ltd. in Vijayanagar, Karnataka, and JSW JFE Electrical Steel Nashik Pvt. Ltd., formerly thyssenkrupp Electrical Steel India. The Vijayanagar plant will see a capacity increase from 62,000 to 100,000 TPA with a ₹1,545 crore investment, while the Nashik plant will expand from 50,000 to 250,000 TPA, with a ₹4,300 crore outlay. The Nashik upgrade is expected to be commissioned by FY2028.
With this investment, JSW Steel’s total CRGO-related capex now stands at ₹15,560 crore, including prior commitments and acquisitions. The capacity hike will supply critical materials for sectors like renewable energy, e-mobility, EV charging, data centres, and energy-efficient transformers, aligning with national goals such as Make in India and Atmanirbhar Bharat.
Jayant Acharya, Joint MD & CEO of JSW Steel, highlighted that the move supports import substitution, strengthens India’s role in the global electrical steel value chain, and addresses growing needs driven by the country’s green and digital transformation.
Analysts welcomed the development, viewing it as a strategic move that demonstrates strong demand visibility and is likely to boost margins in JSW Steel’s value-added portfolio. Over 6.99 lakh shares changed hands on the NSE, reflecting upbeat investor sentiment.
Published on: August 4, 2025
Shares of Godrej Properties Ltd. traded higher on Monday following the release of its Q1FY26 earnings, which showed a 12.5% year-on-year rise in net profit to ₹205 crore, up from ₹182 crore in the same quarter last year. However, the company reported a sharp 41% decline in revenue from operations to ₹435 crore, compared to ₹739 crore in the year-ago period.
Despite the weak topline performance, sentiment remained positive, with Jefferies maintaining a 'buy' rating on the stock while lowering its target price to ₹3,000 from ₹3,200, citing a “soft start” to the fiscal year but expectations of improvement ahead. The brokerage based its valuation on 15 times embedded profit to June 27 pre-sales and highlighted that the company’s 10% sales growth guidance appears achievable, supported by a robust launch pipeline and upfront project additions. It also expects operating cash flows and project deliveries to strengthen in upcoming quarters due to seasonality.
Shares rose as much as 0.89% to ₹2,068.90, before trimming gains to trade 0.12% higher at ₹2,053 by 9:33 a.m., underperforming the NSE Nifty 50’s 0.33% advance. The stock has declined 31.2% over the past year and 25.72% year-to-date, indicating investor caution despite strong long-term expectations.
According to Bloomberg data, of the 21 analysts tracking the stock, 16 recommend a 'buy', one a 'hold', and four suggest a 'sell'. The 12-month average price target implies a potential upside of 33.1%, reflecting optimism about the company’s long-term growth trajectory despite short-term headwinds.
Published on: August 4, 2025
Britannia Industries, the maker of Marie Gold and other popular biscuit brands, is set to announce its Q1FY26 earnings on August 5, 2025. Analysts expect the FMCG giant to report modest gains in revenue and profit, supported by steady volume growth and recent price hikes, though margin contraction could weigh on the results.
According to a Moneycontrol poll of eight brokerages, Britannia’s revenue is projected to rise 8.5% year-on-year to ₹4,610 crore, while net profit is expected to grow 7.8% to ₹571 crore from ₹530 crore in the same quarter last year. Estimates are tightly clustered, with the most optimistic forecast pegging profit growth at 11%, and the most conservative at 5%.
Volume growth is anticipated in the range of 3–5%, driven by urban recovery and ongoing demand in core categories. However, brokerages including YES Securities noted that volume expansion may remain flat compared to Q4FY25 due to a high base, grammage adjustments, and previous pricing actions.
Price hikes—estimated around 6% during the quarter—have helped offset input cost pressures and supported sales growth. Nevertheless, elevated raw material inflation and higher ESOP provisioning are expected to lead to mild contractions in gross and EBITDA margins.
Analysts will closely watch urban demand trends, which have been sluggish in previous quarters, as well as the impact of commodity price trends on profitability. Competitive pressures from unorganized players and Britannia’s ability to defend margins amid a challenging cost environment will also be key factors in assessing the company's near-term outlook.
Published on: August 4, 2025
The Central government has uncovered nearly ₹9 lakh crore worth of Goods and Services Tax (GST) evasion and input tax credit (ITC) fraud cases over the last five financial years, between FY 2020–21 and FY 2024–25, according to information provided by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha on Monday.
A total of 91,370 GST evasion cases involving ₹7,07,942 crore were detected by Central government formations during the period. Of this, ₹1,29,175 crore was recovered through voluntary deposits. Additionally, 44,938 ITC fraud cases amounting to ₹1,78,541 crore were identified, with ₹12,831 crore recovered voluntarily, bringing the total recovery through voluntary compliance to ₹1,42,006 crore.
To tackle tax evasion and boost compliance, the government has implemented several technology-driven measures. These include the adoption of e-invoicing, advanced GST analytics, system-based risk assessments, and outlier identification using compliance behavior. Tools such as automated alerts, anomaly detection, and AI-driven return scrutiny have become integral to the compliance framework.
One of the major initiatives highlighted was “Project Anveshan” — an analytics-driven anti-evasion program that employs modern tools like Facial Recognition Systems and e-way bill data to detect potentially fraudulent GST Identification Numbers (GSTINs) and generate early intelligence.
“These measures are aimed at safeguarding revenue and catching evaders at an early stage,” Chaudhary said, underlining the government’s continued efforts to improve tax administration and transparency in the GST regime.
Published on: August 4, 2025
Indian equity benchmarks staged a strong technical recovery on Monday, with the Nifty 50 ending above the 24,700 mark and the Sensex gaining support from index heavyweights Reliance Industries and Bharti Airtel. The rebound came after a two-day losing streak, driven by improved sentiment following Q1 earnings announcements and strength in metal and auto stocks.
The Nifty 50 closed at 24,722, while the Sensex ended at 81,018. Broader markets outperformed, with the Nifty Midcap 150 rising over 1%, led by Aditya Birla Capital, which surged more than 10% post strong Q1 earnings. Nifty Smallcap 250 gained nearly 1%, supported by Eclerx Services and Capri Global Services.
Sectorally, Nifty Metal led the pack with over 2% gains, snapping its three-day losing streak, thanks to strong performances by SAIL and Tata Steel. Nifty Realty, Auto, Oil & Gas, PSU Bank, and IT indices also posted over 1% gains. Nifty FMCG and Financial Services ended flat, with the FMCG index snapping a 5-day winning streak.
The IT sector recovered sharply from intraday lows, with Tech Mahindra, Mphasis, Coforge, and Persistent Systems gaining more than 3%. Meanwhile, the rupee weakened, closing 12 paise lower at 87.66 against the US dollar.
In corporate news, Delhivery shares hit a one-year high after strong Q1FY26 results, and Steel Strips Wheels Ltd. secured projects worth ₹300 crore from European OEMs. Bharti Airtel’s digital subsidiary Xtelify launched 'Airtel Cloud', a Telco-grade cloud platform, enhancing its digital services portfolio. Kirloskar Ferrous reported a 3% QoQ rise in net profit to ₹95.1 crore despite a dip in revenue.