Stock Market Highlights: Nifty closes around 25,100 with banks and IT being top laggards, Sensex falls 375 points

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Nifty closes around 25,100 with banks & IT being top laggards

Sensex falls 375 points & Nifty 101 points to 25,111

Nifty Bank slips 340 points & Midcap index 102 points to 59,519

Metal cos see sharp recovery intra-day led by Tata Steel & JSW

Sona BLW is top midcap gainer, up 7% on reports w.r.t BYD order win

Max Fin slips on IRDAI panel’s recos of no merger b/w insurer & non-insurer

Selling in defence names continues, BDL & Mazagon top losers

LTI Mindtree, Wipro & Axis Bank end in the red ahead of results

HDFC AMC reacts positively to results while Polycab falls

IndiGo falls nearly 3% on reports of lower air traffic in 1st half of July

SEBI member’s comment of favouring longer term derivatives weighs on BSE

ICICI Pru extends Wednesday’s losses, falls another 1% today

PSU banks give up previous day’s gains, the sectoral index is down 1%

Newgen Software slides 6% on a muted set of results

Le Traveneus surges 20% & Navkar Corp 14% on strong showing in Q1

Adani Group has sold a 20% stake in AWL Agri Business to Singapore-based Wilmar International at ₹275 per share in a ₹7,150 crore deal.

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The stock market fell to its lowest point of the day, with the Nifty index dropping below the 25,150 mark.#CNBCTV18Market | Market at day’s low; #Nifty below 25,150 pic.twitter.com/khF90ZEzFY

— CNBC-TV18 (@CNBCTV18Live) July 17, 2025

– Net profit down 30.7 % at ₹40.5 crore vs ₹58.4 crore (YoY)

– Revenue up 10.1% at ₹1,136.7 crore vs ₹1,032.6 crore (YoY)

– EBITDA down 21.2% at ₹73.8 crore vs ₹93.7 crore (YoY)

– Margin at 6.5% vs 9% (YoY)

– Net profit at ₹600 crore vs CNBC-TV18 poll of ₹518 crore

– Revenue at ₹5,906 crore vs CNBC-TV18 poll of ₹5,651 crore

– EBITDA at ₹858 crore vs CNBC-TV18 poll of ₹762 crore

– Margin at 14.5% vs CNBC-TV18 poll of 13.5%

– Net profit up 49.40% at ₹600 crore vs ₹401.6 crore (YoY)

– Revenue up 25.71% at ₹5,906 crore vs ₹4,698 crore (YoY)

– EBITDA up 47.17% at ₹858 crore vs ₹583 crore (YoY)

– Margin at 14.5% vs 12.4% (YoY)

Heritage Foods reported a 31% drop in net profit for the April to June quarter of 2025 (Q1FY26) to ₹40.5 crore from ₹58.4 crore last year. While revenue grew 10% to ₹1,136.7 crore, operating profit (EBITDA) fell 21% to ₹73.8 crore.

The company’s profit margin also shrank to 6.5% from 9% a year ago.

Polycab India reported a strong June quarter, with net profit rising nearly 49% year-on-year to ₹600 crore, beating CNBC-TV18’s estimate of ₹518 crore.

Revenue grew 26% to ₹5,906 crore, also above expectations. EBITDA jumped 47% to ₹858 crore, and margins improved to 14.5%, compared to 12.4% last year and the expected 13.5%.

– Net profit at ₹2 crore vs loss of ₹13.1 crore (YoY)

– Revenue up 17% at ₹138 crore vs ₹118 crore (YoY)

– EBITDA at ₹20 crore vs ₹2 crore (YoY)

– Margin at 14.5% vs 1.7% (YoY)

Adani has sold a 20% stake in its agri business (AWL Agri) to Wilmar International of Singapore at ₹275 per share — the same price as the earlier 13.5% stake sale via OFS in January 2025.

With this deal, Wilmar will now hold a 64% stake and become the majority shareholder in AWL Agri, replacing Adani.

Sona BLW responds to CNBC-TV18’s queries#Exclusive | #SonaBLW replies to CNBC-TV18’s query w.r.t #BYD order report, says at this point, no specific developments or definitive updates to report on this matter

Sources to @VivekIyer72 https://t.co/AC2GtuEpK7 pic.twitter.com/nTNZ1zND4q

— CNBC-TV18 (@CNBCTV18Live) July 17, 2025

Navkar Corporation posted a strong turnaround in the April to June quarter of 2025 (Q1FY26).

The company reported a profit of ₹2 crore, compared to a loss of ₹13.1 crore in the same quarter last year. Revenue rose 17% to ₹138 crore from ₹118 crore. Operating profit (EBITDA) jumped to ₹20 crore from just ₹2 crore last year, and margins improved significantly to 14.5% from 1.7%.

Shares of Sona BLW Ltd. surged as much as 7.5% on Thursday, July 17, after sources in the know told CNBC-TV18 that the company is in advanced talks to supply electric vehicle components to Chinese EV manufacturer BYD.

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Waaree Renewable Technologies reported a strong performance for the June quarter, with net profit rising sharply to ₹86.4 crore from ₹28.2 crore a year ago.

Revenue more than doubled to ₹603.2 crore from ₹236.4 crore. Operating profit (EBITDA) also saw a significant jump to ₹117.6 crore from ₹41.2 crore, and margins improved to 19.5% from 17.41%, indicating better operational efficiency.

Sona BLW To CNBC-TV18

HDFC AMC Q1

Net Profit rises to ₹748 crore, compared to ₹604 crore, Up 24%

Revenue rises to ₹968 crore in the quarter, compared to ₹775 crore, a jump 25%

Experts have different opinions on inflation and economic growth. With June inflation (CPI) falling to a 6.5-year low of 2.1%, many economists have lowered their full-year inflation forecast to around 3.2–3.3%, below the RBI’s 3.7% estimate. Some expect another interest rate cut, but not as soon as August. Meanwhile, bankers and bond traders are closely watching the RBI’s approach to managing liquidity in the system.

Saugata Bhattacharya, Senior Fellow, Centre for Policy Research on CNBC-TV18

Neeraj Gambhir, Axis Bank on CNBC-TV18

Samiran Chakraborty, Chief Economist, Citi India, on CNBC-TV18

Vinay Rajani of HDFC Securities

Buy ITC for a target price of ₹440 with a stop loss of ₹415

Buy LIC Housing Finance for a target price of ₹660 with a stop loss of ₹625

Nifty Banking index declines

Newgen Software‘s shares dropped by up to 6% on Thursday after the company reported disappointing results for the June quarter.

Compared to last year, its profit before expenses like interest and tax (EBITDA) fell by 6% to ₹45 crore.

The company’s profit margin also slipped slightly from 15% to 14%, indicating weaker overall performance.

Read Full Article

South Indian Bank Q1

Nitin Gupta, former chairman of CBDT, has been appointed as chairperson of NFRA for a period of three years.

State-run Housing & Urban Development Corporation Ltd. (HUDCO) informed the exchanges on Thursday, July 17, that it is considering a fund raising proposal up to ₹3,000 crore.

The fundraising will be done through the issuance of unsecured, redeemable, Non-Convertible Debentures on a private placement basis.

Newgen Software Q1

Net Profit (GU)4% At ₹50 Cr Vs ₹48 Cr (YoY)

Revenue (GU)2% At ₹321 Cr Vs ₹315 Cr (YoY)

EBITDA (RD)6% At ₹45 Cr Vs ₹48 Cr (YoY)

Margin At 14% Vs 15% (YoY)

Zaggle Prepaid Bags Order From Tyger Capital

As the market progresses at a sluggish pace on Thursday, here are some stocks recommendations at this hour.

Ajit Mishra, SVP – Research at Religare Broking

Buy Hero Motocorp for a target price of ₹4,620 with a stop loss of ₹4,380

Buy NTPC for a target price of ₹356 with a stop loss of ₹338

The planned merger between Max Financial Services and its insurance arm, Axis Max Life, has hit a roadblock.

A committee led by former SBI Chairman Dinesh Khara, set up by the insurance regulator IRDAI, has recommended against allowing such mergers between insurance and non-insurance companies.

According to sources, the committee raised concerns that such mergers could put policyholders at risk and has submitted a confidential report advising the regulator not to approve them.

Read Full Article

Some of the biggest volume buzzers, in terms of higher-than-average movement in volume in today’s trade, include these stocks

PNC Infra – 21.68 times

Agri AWL – 10.11 times

Thermax – 9.60 times

Godawari Power – 7.55 times