Indian equities on 25 July will track a heavy results slate, sharp earnings beats and misses, big-ticket deals, and corporate actions. Stocks in focus include Sun Pharma, eClerx Services, Indian Energy Exchange (IEX), Anant Raj, REC, Aether Industries, Larsen & Toubro, Enviro Infra Engineers, GR Infraprojects and Adani Enterprises. Banks and lenders such as Bank of Baroda, Kotak Mahindra Bank, IDFC First Bank, SBI Cards and HDFC Bank are on the radar for earnings and corporate actions. Near-term market tone may be influenced by blockbuster subscription in recent IPOs, elevated F&O ban lists, and a long ex-dividend line-up that could drive stock-specific volatility.
Indian markets open to a dense earnings calendar, strong order wins, stake sales, and ex-dividend adjustments that could fuel significant stock-specific moves.
Quarterly earnings – key reported numbers (YoY, consolidated where stated)
Snapshot of notable prints filed up to July 24
| Company | Revenue (₹ cr) | YoY % | Profit (₹ cr) | YoY % | Key Metric / Comment |
| eClerx Services | 934.6 | 19.5 | 141.6 | 26.4 | Broad-based growth lifts profitability |
| eMudhra | 147.3 | 59.3 | 24.9 | 39.4 | Announces 100% acquisition of AI Cyber Forge Inc (USA) |
| Karur Vysya Bank | 1,080 | 5.0 | 521 | 14.0 | GNPA 0.66% (QoQ down), NNPA 0.19% |
| IEX | 141.8 | 14.7 | 120.7 | 25.2 | Power volumes lift operating leverage |
| Tanla Platforms | 1,040.7 | 3.8 | 118.4 | -16.2 | Margin compression dents profitability |
| Phoenix Mills | 953.0 | 5.4 | 240.7 | 3.5 | Buying 49% in Island Star Mall Developers for ₹5,449 cr |
| Anant Raj | 592.4 | 25.6 | 125.9 | 38.3 | Real estate momentum sustains earnings |
| Johnson Controls–Hitachi AC India | 852.6 | -14.4 | 15.3 | -57.8 | Sharp profit contraction |
| KFin Technologies | 274.0 | 15.4 | 77.3 | 13.5 | Healthy platform operating metrics |
| Suryoday SFB | 247.0 | -15.7 | 35.0 | -50.0 | GNPA 8.5%, NNPA 5.6% (QoQ rise) |
| Cyient | 1,711.8 | 2.2 | 153.8 | 6.9 | Modest growth, steady profitability |
| Trident | 1,706.9 | -2.0 | 140.0 | 89.8 | Profit jump despite lower revenue |
| REC | 14,737.5 | 12.7 | 4,465.7 | 29.0 | Earnings scale with AUM growth, spreads stable |
| UTI AMC | 546.9 | 3.3 | 236.9 | -6.8 | Profit softer despite higher revenue |
| Aether Industries | 256.1 | 42.3 | 47.0 | 57.1 | Specialty chem margin expansion |
Results due today (July 25): Shriram Finance, Bajaj Finserv, Cipla, Bank of Baroda, Aadhar Housing Finance, ACME Solar Holdings, GMDC, Laurus Labs, Paras Defence, Petronet LNG, Poonawalla Fincorp, SAIL, SBI Cards, Sobha, Tata Chemicals.
Due July 26: Kotak Mahindra Bank, IDFC First Bank, Balkrishna Industries, SBFC Finance, Whirlpool of India, among others.
Deals, orders & strategic actions
| Company | Update | Estimated Value |
| Larsen & Toubro / Torrent Power | Talks reportedly ongoing for sale of L&T’s thermal unit | ~$1 bn (incl. debt) |
| Sun Pharma | Settlement in US generic pricing litigation; to pay $200 mn for full release | $200 mn |
| Enviro Infra Engineers | EPC order from BWSSB for STPs & reuse infra | ₹221.3 cr |
| GR Infraprojects | L-1 for Giridih Bypass (towards Tundi), Jharkhand (EPC) | ₹290.23 cr |
| Adani Enterprises | To divest 50% in Kutch Copper Tubes to MetTube Mauritius; to buy 50% in MetTube Copper India | Strategic JV for HVAC copper tubes |
Bulk deals (previous session)
- Indian Energy Exchange: 60 lakh shares sold at ₹131.5.
- Kajaria Ceramics: 12.5 lakh shares bought at ₹1,180.
- Kilburn Engineering: 7.56 lakh shares bought at ₹505.
Corporate actions driving tape risk
Trade ex-dividend today:
HDFC Bank, UltraTech Cement, Union Bank of India, Zydus Lifesciences, Divi’s Laboratories, Life Insurance Corporation of India, Lupin, Jubilant Ingrevia, Jubilant Pharmova, KEC International, 3M India, Abbott India, Akzo Nobel India, ICRA, Info Edge (India), Tube Investments of India, Timken India, and many others.
Ex-rights: Jtekt India
Stock split ex-date: Kellton Tech Solutions, RIR Power Electronics
Ex-bonus: Shine Fashions (India)
Resolution plan – suspension: Taaza International
Derivatives monitor
| Segment | Status |
| F&O ban | Indian Energy Exchange, RBL Bank |
| Out of F&O ban | Bandhan Bank |
What to watch tactically
- Heavyweight earnings (financials, pharma, specialty chem) could swing sectoral indices.
- Order wins & settlements (L&T/Torrent Power, Sun Pharma) may trigger re-ratings.
- Ex-dividend basket may see price adjustments; income-focused portfolios should track record dates closely.
- Power exchanges, infra EPC, and capex-linked names remain momentum pockets amid robust order intake and improving spreads.
Credit cost trajectory in lenders reporting today/tomorrow will be dissected for early stress signals ahead of H2FY26 guidance.
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