- Nifty closed at 24,821 (0.57)
- The positive movement was brought by some decent numbers of Varun beverages(5.22%)
- Apar Industries(11.73%) came with good numbers with a 28% YoY growth in revenue & 30% YoY in PAT also the company is doing capex of INR 13Bn for expanding conductor & cable capacities, new line is expected by Q3FY26.
- Most of the transmission company had positive movement today, GE Vernova (3.12%) also came with good numbers (39% Sales Growth, 115% PAT Growth) which were released aftermarket.
- IMF raises India’s FY26 growth forecast to 6.4%, citing improved global outlook
- There is a lot of fuss going on for NSDL IPO it is coming at a Mcap of 16,000Cr at 46x PE which is lower than CDSL current valuation of 60x PE but at its double Mcap.
- NSDL has a more sticky, concentrated client base of mutual funds, foreign institutional investors, pension funds, and insurance players. As of FY25, NSDL serviced almost all of the value of equity, debt and other securities held by foreign portfolio investors in dematerialized form in India.