The domestic equity benchmarks traded with limited losses in the mid-morning trade. The Nifty traded below the 24,350 mark. Bank shares slipped for the third consecutive trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 364.25 points or 0.43% to 79,802.63. The Nifty 50 index shed 81.50 points or 0.33% to 24,332.45. In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index rose 0.02%. The market breadth was positive. On the BSE, 1,936 shares rose and 1,754 shares fell. A total of 138 shares were unchanged. Buzzing Index: The Nifty Bank index fell 1.15% to 50,724.95. The index declined 2.97% in the three trading sessions. Axis Bank (down 6.36%), ICICI Bank (down 2.29%), AU Small Finance Bank (down 2.03%), IDFC First Bank (down 0.89%), State Bank of India (down 0.85%), Bank of Baroda (down 0.78%), IndusInd Bank (down 0.55%), Federal Bank (down 0.16%) edged lower. On the other hand, Kotak Mahindra Bank (up 0.81%) ,Punjab National Bank (up 0.71%) and HDFC Bank (up 0.46%) added. Axis Bank tumbled 6.36%. The bank reported 4.1% rise in standalone net profit to Rs 6,034.64 crore on 16.97% increase in total income to Rs 35,844.22 crore in Q1 FY25 over Q1 FY24. Stocks in Spotlight: Craftsman Automation slipped 2.68%. The company reported 28.6% fall in consolidated net profit to Rs 53.19 crore in Q1 FY25 from Rs 74.48 crore in Q1 FY24. Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25. JK Paper fell 6.99% after the company's consolidated net profit tumbled 54.73% to Rs 139.72 crore in Q1 FY25 as against Rs 308.67 crore posted in same quarter last year. Revenue from operations rose 8.16% year on year (YoY) to Rs 1,713.65 crore in the quarter ended 30 June 2024. Larsen & Toubro (L&T) added 1.44% after the EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24. Global Markets: Asian markets declined on Thursday as investors took a breather from the AI-fueled rally that has propelled stocks higher this year. Japan and South Korea both saw declines of over 2%, with chipmaker SK Hynix Inc. leading the downturn despite strong earnings. The US market suffered a significant setback, with the S&P 500 plunging 2.3% ' its worst day since December 2022. This marked the end of the longest period without a 2% drop since the 2008 financial crisis. The tech-heavy Nasdaq 100 plummeted 3.64%, dragged down by its largest components. Alphabet Inc. fell 5% after revealing higher-than-expected spending on its AI initiatives. Tesla Inc.'s stock plunged 12% following a disappointing profit report and delay of its robotaxi service. Nvidia Corp. also dropped 6.8%. The slump in the Magnificent Seven tech giants triggered a broad market sell-off. The Dow Jones Industrial Average also declined 1.25%. Powered by Capital Market - Live

Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25. Total operating expenditure rose by 15.8% to Rs 953.86 crore in Q1 FY25 over Q1 FY24, due to higher raw material costs (up 11.9% YoY), higher other expenses (up 9.5% YoY) and higher employee expenses (up 10.2% YoY). Interest payments and depreciation charges for Q1 FY25 were Rs 49.15 crore (up 15.9% YoY) and Rs 72.49 crore (up 6.2% YoY), respectively. Profit before tax in Q1 FY25 stood at Rs 80.71 crore, down by 24.9% from Rs 107.45 crore posted in Q1 FY24. Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotive'aluminum products, and industrial and engineering. Powered by Capital Market - Live

Net profit of Craftsman Automation declined 28.58% to Rs 53.19 crore in the quarter ended June 2024 as against Rs 74.48 crore during the previous quarter ended June 2023. Sales rose 10.94% to Rs 1151.19 crore in the quarter ended June 2024 as against Rs 1037.63 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1151.191037.63 11 OPM %17.1420.65 - PBDT153.20175.74 -13 PBT80.71107.45 -25 NP53.1974.48 -29 Powered by Capital Market - Live

Craftsman Automation has executed a contribution, share sale and purchase agreement for the acquisition of 25,000 equity shares representing 100% of the share capital of INOS 24-004 GmbH (the German Holdco). The German Holdco has a wholly owned subsidiary, namely INOS 24-003 GmbH (the 'German Sub') also incorporated in Germany. With the acquisition, the German Holdco is now a wholly-owned foreign subsidiary of the Company and the German Sub a wholly owned step down subsidiary of the Company. Accordingly, the Company has acquired control over the German Holdco and German Sub.Powered by Capital Market - Live