The domestic equity benchmarks traded in a narrow range with significant gains in mid-morning trade. The Nifty traded above the 24,950 mark. Consumer durables shares advanced after declining in the past trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex jumped 555.90 points or 0.70% to 81,642.11. The Nifty 50 index advanced 163.25 points or 0.66% to 24,986.40. In the broader market, the S&P BSE Mid-Cap index added 0.49% and the S&P BSE Small-Cap index gained 0.32%. The market breadth was positive. On the BSE, 2,201 shares rose and 1,682 shares fell. A total of 163 shares were unchanged. Buzzing Index : The Nifty Consumer Durables index added 0.76% to 41,236.95. The index shed 0.17% in the past trading session. Kalyan Jewellers India (up 2.79%), V-Guard Industries (up 2.03%), Dixon Technologies (India) (up 1.83%), Crompton Greaves Consumer Electricals (up 1.15%), Century Plyboards (India) (up 0.79%), Titan Company (up 0.65%), Havells India (up 0.62%), Cera Sanitaryware (up 0.45%), Voltas (up 0.24%) and Bata India (up 0.22%) advanced. On the other hand, Rajesh Exports (down 1.5%), Blue Star (down 1.41%) and Kajaria Ceramics (down 0.64%) edged lower. Stocks in Spotlight : Symphony shed 0.71%. The household appliances company announced that its wholly owned subsidiary (WOS) in China, Guangdong Symphony Keruilai Air Cooling Co, has incorporated a China-based unit, Dongguan GSK Appliances. JSW Energy rose 0.20%. The company said that its wholly owned subsidiary, JSW Neo Energy has received letter of award (LoA) for setting up 250 MW grid-connected wind power project from Adani Electricity Mumbai. Global Markets : Asian markets traded mixed on Monday, with some finding support from the anticipation of lower U.S. interest rates. However, Japanese markets retreated amidst pressure from the yen and speculation about potential rate hikes by the Bank of Japan. The upcoming Tokyo inflation data is expected to provide more clarity on the trajectory of Japanese interest rates. Sentiment was also influenced by the People's Bank of China's withdrawal of approximately 101 billion yuan ($14.2 billion) from the open market. While this move aimed to strengthen the yuan, it also raised concerns about the extent of Beijing's support for the Chinese economy. Regional markets drew initial strength from the positive performance of Wall Street, where the S&P 500 and Dow Jones Industrial Average approached record highs on Friday. Federal Reserve Chair Jerome Powell's comments reinforced expectations for a rate cut in September, with Powell stating that the time has come for a monetary policy adjustment. In his speech at the Jackson Hole Economic Symposium on Friday, Powell highlighted the factors contributing to recent inflation, including increased demand for goods, supply chain disruptions, tight labor markets, and rising commodity prices. He also clarified that the recent rise in the unemployment rate is primarily due to increased labor supply and slower hiring, rather than widespread layoffs. The S&P 500 gained 1.2%, the Dow Jones Industrial Average rose 1.1%, and the NASDAQ Composite surged 1.5%. However, caution prevailed ahead of a series of crucial events this week. The most anticipated is the earnings report from NVIDIA Corporation, a market darling, which is due after the market closes on Wednesday. Additionally, the PCE price index data, the Fed's preferred inflation gauge, is scheduled for later in the week. Powered by Capital Market - Live

The step down wholly owned subsidiary has been incorporated for an authorized capital of CNY 500,000. The incorporated subsidiary will carry on the business of import and export of all types of goods, sales of all types of consumer durables and household appliances viz. air coolers, water heaters, tower fans, washing machines and others. 'This is in accordance with local regulatory requirements. It may be noted that this activity will result in additional revenue that is margin accretive without additional overhead,' said the company. Symphony are engaged in the field of residential, commercial and industrial air cooling and other appliances both in the domestic and international markets The company's consolidated surged to Rs 88 crore during the quarter as compared with Rs 24 crore posted in corresponding quarter last year. Revenue from operations jumped 75.83% YoY to Rs 531 crore in Q1 FY25. Shares of Symphony shed 0.69% to Rs 1,613.50 on the BSE. Powered by Capital Market - Live

ITD Cementation India Ltd, BASF India Ltd, Triveni Turbine Ltd and Gravita India Ltd are among the other gainers in the BSE's 'A' group today, 08 August 2024.Symphony Ltd soared 13.52% to Rs 1699.85 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 21543 shares in the past one month. ITD Cementation India Ltd spiked 12.73% to Rs 544.8. The stock was the second biggest gainer in 'A' group. On the BSE, 7.3 lakh shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one month. BASF India Ltd surged 9.19% to Rs 7562. The stock was the third biggest gainer in 'A' group. On the BSE, 24537 shares were traded on the counter so far as against the average daily volumes of 6811 shares in the past one month. Triveni Turbine Ltd added 7.81% to Rs 687.85. The stock was the fourth biggest gainer in 'A' group. On the BSE, 2.01 lakh shares were traded on the counter so far as against the average daily volumes of 29935 shares in the past one month. Gravita India Ltd jumped 7.58% to Rs 1903. The stock was the fifth biggest gainer in 'A' group. On the BSE, 52087 shares were traded on the counter so far as against the average daily volumes of 35555 shares in the past one month. Powered by Capital Market - Live

Revenue from operations jumped 75.83% YoY to Rs 531 crore in Q1 FY25. Profit before tax (PBT) soared to Rs 112 crore in Q1 FY25 as against Rs 30 crore posted in the same quarter last year. EBITDA stood at Rs 112 crore, steeply higher than Rs 28 crore recorded in same quarter previous fiscal. EBITDA margin stood at 21% in Q1 FY25. Meanwhile, the company's board approved a share buyback upto Rs 71.40 crore at Rs 2,500 per share via tender offer route. The company will buyback 2,85,600 fully paid-up equity shares of face value Rs 2 each, representing 9.33% and 9.99% of the total paid-up equity share capital and free reserves (including securities premium account) as per the latest audited standalone financial statements and audited consolidated financial statements of the company for the financial year ended 31 March 2024. The buyback price is fixed at Rs 2,500, representing a 103.4% premium to Monday's closing price of Rs 1229.10 on the BSE. Further, the board declared first interim dividend of Rs 1 per share having face value of Rs 2 each for FY25. Symphony are engaged in the field of residential, commercial and industrial air cooling and other appliances both in the domestic and international markets The scrip hit 52-week high at Rs 1,474.90 in intraday today.Powered by Capital Market - Live

Symphony announced that the Board of Directors of the Company at its meeting held on 06 August 2024, has recommended a First Interim dividend of Rs.1 per share (i.e.50%), subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Symphony rose 266.67% to Rs 88.00 crore in the quarter ended June 2024 as against Rs 24.00 crore during the previous quarter ended June 2023. Sales rose 75.83% to Rs 531.00 crore in the quarter ended June 2024 as against Rs 302.00 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales531.00302.00 76 OPM %20.908.61 - PBDT117.0039.00 200 PBT112.0032.00 250 NP88.0024.00 267 Powered by Capital Market - Live

Symphony has fixed 14 August 2024 as record date for payment of first interim dividend for FY 2025. Powered by Capital Market - Live