The main equity indices traded with significant losses in mid-afternoon trade. The Nifty dropped below the 24,200 level after hitting the day's high of 24,359.95 in early trade. Nifty Bank shares declined after jumping for four consecutive trading sessions. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 638.61 points or 0.80% to 79,012.88. The Nifty 50 index slipped 190.50 points or 0.78% to 24,156.50. In the broader market, the S&P BSE Mid-Cap index declined 0.72% and the S&P BSE Small-Cap index fell 0.71%. The market breadth was weak. On the BSE, 1,509 shares rose and 2,320 shares fell. A total of 132 shares were unchanged. Economy: India's CPI inflation in July 2024 stood at 3.54%, which is the lowest since August 2019, according to official data released on Monday, August 12. In the previous month of June 2024, India's retail inflation had stood at 5.08%. Meanwhile, India's IIP recorded a growth of 4.2% in June 2024. The factory output, measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4% in June 2023. Buzzing Index: The Nifty Bank index declined 1.22% to 49,961.30 the index increased 1.67% in the past four trading sessions. HDFC Bank (down 2.93%), Bandhan Bank (down 1.79%), Bank of Baroda (down 0.98%), Kotak Mahindra Bank (down 0.83%), State Bank of India (down 0.71%), ICICI Bank (down 0.39%), IndusInd Bank (down 0.26%), IDFC First Bank (down 0.22%), Axis Bank (down 0.09%) and Punjab National Bank (down 0.08%) declined. Numbers to track: The yield on India's 10-year benchmark federal paper was up 1.82% to 7.004 as compared with previous close 6.996. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.9700, compared with its close of 83.9725 during the previous trading session. MCX Gold futures for 5 September 2024 settlement shed 0.17% to Rs 70,232. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 103.19. The United States 10-year bond yield advanced 0.33% to 3.923. In the commodities market, Brent crude for October 2024 settlement declined 31 cents or 0.38% to $82.30 a barrel. Stocks In Spotlight: Syncom Formulations (India) shed 0.13% after the company reported 73.4% increase in consolidated net profit to Rs 7.63 crore in Q1 FY25 from Rs 4.40 crore in Q1 FY24. Net sales rose by 45.8% year-over-year (YoY) during the quarter to Rs 87.26 crore. Campus Activewear fell 1.90% after the company's consolidated net profit declined 19.38% to Rs 25.38 crore in Q1 FY25 as compared with Rs 31.48 crore in Q1 FY24. Revenue from operations fell 4.13% YoY to Rs 339.16 crore during the quarter, amidst muted demand scenario driven by general elections.Powered by Capital Market - Live

Net sales rose by 45.8% year-over-year (YoY) during the quarter to Rs 87.26 crore. Total expenditure added up to Rs 76.80 crore, up by 43.9% as compared with the same period last year. This was primarily due to higher raw material costs (up 134.1% YoY), higher employee expenses (up 26.5% YoY) and higher other expenses (up 23.9% YoY). Profit before tax in Q1 FY25 stood at Rs 10.10 crore, up by 65.3% from Rs 6.11 crore recorded in Q1 FY24. Syncom Formulations (India) is engaged in the manufacturing and dealing in pharmaceutical drugs and formulations, and trading of commodities. It manufactures and markets a range of pharmaceutical formulations in various dosage forms, such as tablets, capsules, liquids orals, liquid vials and ampoule injections and dry powder injections, ophthalmic preparations, dry syrups and suspensions, ointments, creams, gel, ORS and jelly. Powered by Capital Market - Live

Net profit of Syncom Formulations (India) rose 73.41% to Rs 7.63 crore in the quarter ended June 2024 as against Rs 4.40 crore during the previous quarter ended June 2023. Sales rose 45.82% to Rs 87.26 crore in the quarter ended June 2024 as against Rs 59.84 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales87.2659.84 46 OPM %11.9810.80 - PBDT11.407.21 58 PBT10.106.11 65 NP7.634.40 73 Powered by Capital Market - Live

Syncom Formulations (India) will hold a meeting of the Board of Directors of the Company on 12 August 2024.Powered by Capital Market - Live