PNB, Eicher Motors News: Indian Markets Brace for Drop

The domestic equity market is expected to open lower on Thursday, July 30. GIFT NIFTY futures indicate an 82-point decline for the NIFTY50 index.

Punjab National Bank received approval for a Medium-Term Note (MTN) Programme. This allows the bank to raise up to USD 1.5 billion in foreign currency funds by issuing bonds through its PNB IFSC Banking Unit in GIFT City.

Eicher Motors’ Strategic Investments

Eicher Motors’ board sanctioned a ₹2,500 crore phased investment plan. The initial phase allocates ₹1,225 crore for greenfield expansion in Andhra Pradesh. This investment aims to enhance motorcycle production capacity.

The company reported a consolidated Q1 revenue of ₹6,632.42 crore, a 31.55% increase from the previous fiscal year. Its Royal Enfield division achieved its highest-ever quarterly sales, delivering 3,32,940 motorcycles, marking a 27% rise.

Corporate Performance Updates

NBCC recorded a post-tax profit of ₹131 crore. The company’s revenue from operations increased by 18.32% year-on-year, reaching ₹3,662 crore in the reporting quarter, supported by an order book of approximately ₹61,500 crore.

Waaree Energies saw revenue from operations surge by 79.22% year-on-year. Totaling ₹7,931.79 crore during the April-June period of the current fiscal year.

Hirect’s total revenue from operations climbed by 63.3% to ₹954 crore in Q1 FY27. This growth is attributed to increased irradiation and improved plant performance. The company commissioned 2.3 GWh capacity, bringing its cumulative Battery Energy Storage System (BESS) capacity to 3.62 GWh.

Vedanta Aluminium, operating as Vedanta Power, reported a total income of ₹1,844 crore in Q1 FY27. This represents a 6.34% increase from the previous year. Its CEO highlighted strong revenue and power sales as key factors.

GAIL previously reported a net loss of ₹142 crore in the corresponding period of the prior year. Tata Steel is also listed among the stocks to watch.