Share Market Highlights 6th July 2023: Market rally continues: Nifty surges to 19,500, sets new record

Amara Raja Electronics Limited (AREL), an Electronic Systems Design and Manufacturing (ESDM) company and part of the $1.75 billion Amara Raja Group, has announced a strategic investment in Design Alpha (DFM Softech Solutions Pvt. Ltd) an emerging engineering design company.

Amara Raja Batteries shares up by 2.56 per cent, and closed at Rs 703.55 on BSE.

Sensex climbs 339.60 points to settle at an all-time closing high of 65,785.64; Nifty hits fresh peak of 19,497.30, as per PTI.

Senco Gold IPO has been subscribed 58.34 times as of 3:24 pm on July 6. QIB: 134.13 times; NIIS: 60.94 times; RII: 13.93 times

Shares of IRCTC rise by 0.26% on NSE, trading at 632.25 per share.

Gross premium of non-life insurers grows 18% in Q1.

Health insurance players grow faster and all health players improve their market share.

The combined gross premium of general insurance companies reported an increase of 15% year-on-year at Rs.20,452 crore in June 2023 vs Rs.17,809 crore in June 2022.

Stocks advanced on BSE at 3 pm on July 6 were 1,974 against 1,454 stocks that declined. Total stocks traded were 3,577.

The number of stocks that recorded a 52-week high was 230 and those that hit a 52-week low was 21.

Stocks that were positive on NSE at 3 pm on July 6: Mahindra & Mahindra (4.89%); Apollo Hospitals (4.11%); Power Grid Corporation of India (3.28%); Tata Motors (2.19%); Reliance Industries (2.10%)

Stocks that were negative include: Eicher Motors; HDFC Life Insurance; Maruti; HCL Tech; Bajaj Finance

Adani Green board approves rising up to Rs 12,300 crore.

CLSA: Indian companies to deliver best two-year earnings growth among global peers.

India’s equity valuations may soon be overextended as the bullish investor sentiment is at a 20-month high. But the valuations are not yet at the warning level.

SPACENET: Co and Pathfinder align for a leap into generative AI and retail revolution.

Strategic alliance is set to ignite a revolution in the retail sector, positioning the merged entity at the forefront of the expanding AI landscape.

EPL: Rs 22 crore NSE Block Trade; for - 1012284 shares, at Rs 217.35.

Shares of Pidilite Industries rise 1.19%, trading at ₹2,640 per share.

Stocks that were positive on BSE at 2:30 pm on July 6: Hindustan Zinc (6.95%); ION Exchange (6.61%); Ceat (18.03%); JK Tyre & Industries (6.87%); Welspun Enterprises (7.90%).

Shares of IIFL Finance rise 0.62% trading at ₹511.15 on NSE. The company raised $175 million through external commercial borrowing (ECB) route in the month of June 2023.

Tata Motors crosses 52-week highs of Rs 600.

The stock of Marico declined 2.09% on NSE, trading at ₹527.30.

The company’s domestic volumes grew in low-single digits in Q1 FY24, with a minor volume drop in Parachute Coconut Oil, low double-digit volume growth in Saffola Edible Oils, and flattish quarter for Value Added Hair Oils. The company’s consolidated revenue in the quarter declined in low-single digits.

Hemisphere properties: co says co exploring potential development for development of land resources under HPIL at Pune.

Hemisphere properties: co will move forward with the suggestions/ ideas emerged during the discussion.

Stock of TVS Motors declines 0.45% on BSE, trading at ₹1,314.90.

The company along with Apollo Tyres had set a 24-hour Indian National Speed Endurance Record on the TVS Apache RR 310, a stock exchange filing on July 5 disclosed.

At 1.57 pm on Thursday, September Brent oil futures were at $76.78, up by 0.17 per cent; and August crude oil futures on WTI (West Texas Intermediate) were at $72.06, up by 0.38 per cent.

July crude oil futures were trading at ₹5942 on Multi Commodity Exchange (MCX) against the previous close of ₹5932, up by 0.17 per cent; and August futures were trading at ₹5980 as against the previous close of ₹5960, up by 0.34 per cent.

BSE: Co approved share buyback at the price of 816 rupees per share via tender route.

The stock of DCB Bank rises by 6.52% trading at ₹129.80 on NSE.

The company, in its stock exchange filing on July 5, said the Reserve Bank of India had approved Tata Asset Management Private Limited (TAMPL) to acquire aggregate holding of up to 7.5% of the paid-up equity capital of the Bank through the schemes of Tata Mutual Fund.

Zomato stock is up by 0.88% on NSE, trading at ₹74.70.

Cummins India: co launches CPCBIV+ Compliant power solutions, reinforcing its commitment to environmental stewardship.

Goldiam wins order worth Rs 30 crore.

Stocks that were positive on BSE at 1:40 pm on July 6: Hindustan Zinc (6.95% change); Ceat (15.95%); Sunteck Realty (6.19%); JK Tyre & Industries (6.31%) ; Welspun Enterprises (6.61%)

Shares of HDFC rise 0.08%, trading at 2,798.25 on NSE.

The auto retail outlook signals mixed trends in July and the two-wheeler (2W) market anticipates continued supply challenges and economic pressures, despite new schemes and expectations of monsoon-boosted sentiment, the Federation of Automobile Dealers’ Associations (FADA) said on Thursday.

Senco Gold IPO has been subscribed 19.80 times as of 1:33 pm on July 6.

QIB: 27 times

NIIS: 32.64 times

RII: 10.18 times

The IPO closes today.

MCX regains all the losses seen since June 28 on renewal of agmt with 63 Moons.

The stock of Reliance Industries rises 1.58% on NSE, trading at ₹2,625.40.

The stock of Tata Power rises 2.64%, trading at ₹227.55 on NSE.

The company had secured a ₹1,744-crore smart metering project in Chhattisgarh State Power Distribution Company Ltd (CSPDCL), spanning a period of 10 years.

Adani Green looks to raise $1.5 bn for expansion as per bloomberg.

Stocks that were positive on NSE at 1:05 pm on July 6: Apollo Hospitals (3.97%); Power Grid Corporation of India (2.25%); Mahindra & Mahindra (2.05%); BPCL (1.94%); NTPC (1.78%)

Stocks that were negative include: Eicher Motors; Maruti; HDFC Life Insurance; Bajaj Finance; Divi’s Laboratories

Nifty and Sensex remain resilient in green, amidst negative global cues. Key indices across UK, Germany, France and Italy have opened in the red in the range of negative 70-120 bps.

This follows major Asian markets excluding India in the red as well. Japan’s Nikkei 225 closed for the day down by 170 bps.

Similar to yesterday Hong Kong’s Hang Seng was the worst performer today also and is down by nearly 3 per cent.

Futures of key US indices are also trading down by around 50 bps.

Increase in bond yields as Central Bankers continue to be firm on higher interest rates for longer have been weighing on global markets in last couple of days.

Coffee producer CCL Products has touched the 52-week high of Rs 727.20, trading at Rs 717.70.

Fourth time to touch the 52-week high in the last six days.

The stock of Solara Active Pharma Sciences declines by 1.43%, trading at ₹392.35 on NSE. The company’s board had approved raising up to ₹450 crore through rights issue.

Shares of KEC International rise by 3.74%, trading at ₹597 per share on NSE. The company had earlier secured new orders worth ₹1,042 crore.

Dr. Reddy’s forays into child nutrition space with the launch of CeleHealth Kidz Gummies in India.

The stock climbed over 1 per cent at Rs 5234.

The notice is issued by IDBI bank under RBI Master circular on wilful defaulters.

Bombay High Court has granted interim stay to the show cause notice issued to Jet airways founder Naresh Goyal and wife Anita Goyal.

Construction firm NCC Ltd shares touched the 52-week high of Rs 130.55, trading at Rs 129.60, up by 5.37 pc.

HDFC Securities downgraded the stock, impacting brands like Royal Enfield and Harley-Davidson.

AU Small Finance Bank moves up 0.7 per cent at Rs 775 on logging 27% growth in total deposits during Q1FY24.

Alkem Lab: co forays into ophthalmology segment with the launch of an extensive portfolio of eye-care products- PTI

PFC has extended its financial assistance for ₹ 9,187 cr to HPCL Rajasthan Refinery Ltd for its 9 MMTPA refinery-cum-petrochemical complex located at Barmer, Rajasthan.

This marks PFC’s first venture into the Refinery and Petrochemical sector, expanding its support from the power sector to the infrastructure segment.

GM Breweries: Q1 EBITDA 271M Rs VS 217M (YOY)

Q1 EBITDA MARGIN 4.67% VS 3.93% (YOY)

Senco Gold IPO has been subscribed 7.75 times as of 12:09 pm on July 6.

QIB: 3.17 times

NIIS: 14.27 times

RII: 7.57 times

The IPO closes today.

The stock of Hatsun Agro Product rises by 1.19% on NSE, trading at ₹937.35. The company had earlier approved the sale of the windmill division to VKA Polymers Pvt Ltd for ₹135 crore by way of transfer of all the assets and liabilities related to that on a slump sale basis.

InsideFPV, drone Manufacturer, has raised Rs 2.75 crore in a Seed Round led by Inflection Point Ventures. The funds will be used for product development, marketing and research. The company aims to capture the consumer drone space, followed by agricultural and defence space in the coming quarters.

The company’s compact drones are priced starting from Rs 2800 to cater different use cases.

Stocks advanced on BSE at 12 pm on July 6 were 2,020 against 1,270 stocks that declined. Total stocks traded were 3,458. The number of stocks that recorded a 52-week high was 194 and those that hit a 52-week low was 17.

HDFC Securities has downgraded Eicher Motors to Reduce (from Add earlier) as a significant increase in competition. Over the last two days, both Harley Davidson (in partnership with Hero MotoCorp) and Triumph (in partnership with Bajaj Auto) have launched cruiser bikes at extremely competitive and similar price points, which are marginally higher than Royal Enfields best-selling Classic350cc (Chrome).

“What leaves us confused is the fact that while pricing is aggressive, both players seem to have very limited capacity to start with. We hence believe that this is likely to be introductory pricing and unlikely to be sustainable in the long run for the features on offer,” it said.

Agro Chemical companies are expected to post a fall in profit and revenue due to sluggish demand both in domestic and global markets, higher carry-over inventory from FY23 and provisions for high cost inventory amid falling raw material cost scenario, said Prabhudas Lilladher research report.

Further, fall in fertilizer companies revenue was in-line cut in subsidy rates by the Government. Overall volume growth to be in mid-single digits and profitability to be lower YoY due to inferior product mix and further provisioning for high cost inventories, it said.

Mentha oil futures for July and August deliver have topped Rs 900 a kg.

Turmeric prices are down a tad on NCDEX. However, Food and spices firms such HUL and Wipro will have their raw material costs going up as turmeric is ruling near 7-year high and jeera is soaring to news highs every day.

Jeera futures for September delivery are up 1.56% at Rs 58,730 a quintal. July and August futures of the spice are up over 2 per cent.

The stock of Ujjivan Small Finance Bank rises 3.69%, trading at ₹42.15 on NSE. The company’s 7th AGM will be held on July 28.

The stock of Reliance Industries rises 1.68%, trading at ₹2,628 on NSE.

Muthoot Finance’s microfinance arm -- Belstar Microfinance Ltd -- has begun discussions around an initial public offering. Speaking exclusively to businessline, Kalpana Sankar, Managing Director of Belstar Microfinance, said a committee has been set up to work on the IPO. “The IPO committee will appoint bankers for the issue soon.”

India will sustain its growth in a more durable way than before, a report by Finance Ministry said on Thursday. However, the report cautions about the headwinds that could pose major challenges if they are overlooked.

Indian economy grew by 7.2 per cent in FY23 and the growth in January-March quarter played a major role in the overall growth.

Signs of growth moderation visible in most segments of automobile in Q1 FY’24, Motilal Oswal Research.

Cotton futures are 0.31% lower on MCX at Rs 57,000 a candy (356 kg). Kapas (raw cotton) futures on NCDEX are down by a similar margin at Rs 1,498 a bale.

Suzlon Energy stock declines by 2.87% on NSE, trading at ₹16.90 per share.

Prestige Estates has entered into a joint venture agreement with W S Industries for the development of IT/IT-enabled services/parks.

Puravankara: co achieved highest ever sale value of Rs 1,126 Cr in any quarter and the first quarter of any financial year since inception up by 119% compared to Rs 513 cr in Q1FY23.

The RBI has granted its approval to Tata Asset Management (TAM) to acquire shareholding of up to 7.5 per cent in DCB Bank as part of Tata MF scheme investments.

Biocon subsidiary Biocon Biologics has completed the integration of the acquired biosimilars business in over 70 countries.

KEC International has secured new orders of Rs 1,042 crore.

Ujjivan Small Finance Bank has reported a 44 per cent year-on-year growth in total deposits at Rs 26,655 crore.

TCS, deepening its partnership with Microsoft, has launched a new Generative AI Enterprise Adoption offering on Microsoft Cloud.

According to a stock exchange filing, the company will get 25,000 employees trained on Azure Open AI to help clients accelerate their adoption of this powerful new technology.

Shares of TCS dropped by 0.17% on BSE, trading at ₹3,315 per share at 11:10 am.

Maruti Suzuki Invicto receives over 6,000 bookings, exceeding expectations: CEO Takeuchi.

LTI Mindtree launches ‘V-Protect’ powered by Rubrik, for comprehensive data protection and recovery.

Ashok Leyland urges government to classify Hydrogen made from biofuels as “Green Hydrogen”

Stocks that were positive on NSE at 11 am on July 6: Britannia (2.33%); Apollo Hospitals (2.22%); Power Grid Corporation of India (1.93%); Reliance Industries (1.92%); BPCL (1.67%)

Stocks that were negative include: Eicher Motors (-2.83%); Induslnd Bank (-1.60%); Divi’s Laboratories (-1.10%); Bajaj Finance (-0.85%); Tata Steel (-0.75%)

Eicher Motors has underperformed the Nifty Auto Index by more than 20 per cent ytd

WIth today’s decline of nearly 3 per cent to ₹3,222 Eicher Motors has given up all the gains made during the year.

BSE Board meeting for buy back of shares to start at 11 am today.

Stocks that were positive on BSE at 10:46 am on July 6: Ceat (7.33%); Avanti Feeds (4.93%); Olectra Greentech (7.47%); Action Construction Equipment (10.81%); DCB Bank Ltd (6.13%)

Mrs Bector: Rs 12.21 cr NSE Block Trade; for - 150262 shares, at Rs 812.3.

Adani Wilmar stock is up by 0.59% on July 6, trading at ₹409.35 on NSE. On Wednesday, the company reported a 25% y-o-y volume growth for the quarter ended June 30.

The company added in its stock exchange filing that the Food & FMCG segment recorded a revenue growth of 30% y-o-y to cross ₹1,000 crores of revenue.

PCBL scrip trading higher by 0.61% at Rs 164.85 on the BSE. The company, in its latest annual report said, it plans to penetrate new geographies and expand global footprint by tapping emerging opportunities in untapped markets. The company has various products which it plans to roll out in the next three years with a view to meet customer demand and expectation

The rupee depreciated 20 paise to 82.45 against the US dollar in early trade on Thursday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices.

At the interbank foreign exchange, the domestic unit opened at 82.36, then fell to 82.45, registering a decline of 20 paise over its last close.

Senco Gold IPO has been subscribed 3.50 times as of 10:24 am on July 6.

QIB: 0.27 times

NIIS: 5.42 times

RII: 4.52 times

The IPO closes today.

Construction company NCC Limited shares up by 4.27 pc, trading at Rs 128.

Premier explosives wins order worth Rs 87 crore.

Mcap: Rs 480 crore

Nifty50 hits fresh life high at 19,445 points.

Life Insurance Corporation of India’s (LIC) shareholding in India Cements had diluted from 5.875% to 3.833% of the paid-up capital of the said company.

LIC stock rises by 0.30% on NSE trading at ₹628.60; India Cements stock is down by 1.25% on NSE, trading at ₹209.60.

Ajmera Realty & Infra India LTD reported sales of Rs 225 crore in Q1FY24 up 60 per cent on quarter while collections rose 8% to Rs 111 crore. The stock is up 1 per cent at Rs 366 on the NSE.

Shares of RPP Infra Projects rise by 13.22% on NSE, trading at ₹64.25 per share. The company had received a letter of acceptance for rectification of Black Spot at different locations on the Salem-Kumarapalaym section of NH-544 (Tamil Nadu) in the EPC mode, at a contract price of ₹125.85 crore.

The company’s stock exchange filing on July 5 added that it had secured a new order worth approx ₹289.30 crore.

IIFL Finance: Rs 168.89 crore NSE block trade; For - 3304521 shares, at Rs 511.1 .

Greenchef Appliances Listed at 104 v/s Issue Price 87

Essen Speciality Films Listed at 140 v/s Issue Price 107

Magson Retail 91 v/s 65

The July expiry futures of Bank Nifty opened the day lower at 45,190 versus yesterday’s close of 45,237. The contract is now hovering around 45,260.

The price action indicates that the contract is trading within 45,170 and 45,600. Ideally, the direction of the break of this range should give us cues about the next swing in price.

Although a trading range is in place, the risk-reward is now favourable to long positions as Nifty Bank futures is trading near the range bottom.

So, buy Nifty Bank futures now at around 45,250 with stop-loss at 45,080. Exit at 45,500.

Shares of micro-cap civil construction firm RPP Infra Projects are up 13 per cent in early trade today after announcing receipt of new orders worth Rs 289 crore. The Erode-based company’s order book stands at Rs 3240 crore, and it had posted Rs 1005 crore revenue for FY23. The stock has gained over 80 per cent in last 12 months, outpacing 27 per cent by BSE Infra index and 32 per cent by BSE Smallcap basket. It trades at a trailing price to earnings of 7.5 times. The stock hits its 52-week of Rs 66.07 today, amid 8x volume spurt in trading volume.

Shares of IDBI Bank rise by 2.46% on NSE, trading at ₹58.35 per share.

The Odisha government will offer long term ore linkage for iron ore, chrome, bauxite and limestone, mined and produced by the Odisha Mineral Corporation (OMC). The ore linkage will be for investors or companies that sets up end-use plants (greenfield/expansion), which are with or without mechanised evacuation systems.

Odisha produces 55 per cent of India’s iron ore and all the chrome ore available in the country. It has one-third of the iron ore reserves, over 50 per cent of the bauxite reserves, and 90 per cent of India’s chromite reserves.

The long-term linkage will be for a period of five years. It will have provisions for annual review across parameters such as off-take regularity, ability to make payments on-time and other factors and at the end of the first five years, the linkage can be extendable for another five years subject to availability of the ores.

Incred Equities valued Clean Science and Technology at 20x FY25F EPS to arrive at our new target price of Rs.660 (from Rs.847 earlier).

Incred Equities has a REDUCE rating on the stock. It sees liquidity-driven P/E expansion as an upside risk.

Max healthcare: Rs 184.14 crore NSE block trade; for - 3009989 shares, at Rs 611.75.

Sectoral indices like Nifty FMCG, Nifty Auto at fresh record highs.

The July futures contract of Nifty 50 opened today’s session slightly lower at 19,441 versus yesterday’s close of 19,467. It is currently hovering around 19,460.

The price action over the past couple of days show that Nifty futures is flat now, oscillating between 19,380 and 19,480. So, we can predict the next leg of trend only if the contract moves out of this range.

From a trading perspective, it is not the right time to initiate fresh trades. One can consider initiating positions along the direction of the break of the 19,380-19,480 range. Until then, stay on the sideline.

The ₹405-crore initial public offering of Senco Gold will close for public subscription today. Priced in a band of ₹301-317, investors can bid for a minimum of 47 equity shares. The public issue received bids for 2.58 crore shares, as against 94.18 lakh shares on the offer.

124 stocks have today hit 52-week highs. This list includes Ahluwalia Contracts, Amara Raja Batteries, BPCL, Britannia, CCL, DLF, Colgate, Equitas Bank, Godrej Properties, HDFC Life, HUL, HPCL.

On the other side, 7 stocks are at respective 52-week lows. This list includes NIIT, Ador Multiproducts, and Hindustan Adhesives.

In terms of circuit, 72 stocks, such as Reliance Home Finance, are locked at upper circuit while 36 such as Twenty First Century, MRC Agro, Raj Rayon, have hit lower circuit. Many of the stocks in this list are under Additional Surveillance Measure scanner as they may be highly volatile and risky.

JSW Steel has reported that its production in the June quarter was up 12 per cent at 6.61 million tonne (mt) against 5.88 mt logged in the same period last year.

However, it was down 2 per cent when compared to 6.77 mt recorded in the March quarter.

Output in India increased 10 per cent at 6.37 mt (5.62 mt) and down 3 per cent quarter-on-quarter.

In the US, it was flat at 0.25 mt (0.16 mt) year-on-year.

JSW Ispat Special Products recorded output of 0.18 mt (0.11 mt).

CRISIL Ratings has upgraded the long-term rating of Bajaj Electricals’ bank loan facilities of Rs 2,100 crore to CRISIL AA-/stable from CRISIL A+.

Ujjivan Small Finance Bank’s total deposits grew 44% year-on-year and 4% sequentially to Rs 26,655 crore in April-June. CASA rose 27% year-on-year to Rs 6,550 crore, and the CASA ratio stood at 24.6%. Advances are up 31% year-on-year and 5% quarter-on-quarter to Rs 25,346 crore in the first quarter. Disbursement momentum continues to show strength, with 22% year-on-year growth to Rs 5,280 crore, the company said.

Stocks that were negative at 9:39 am on NSE: ​Eicher Motors​ (-2.54%); ​Tata Steel​ (-1.15%); ​Induslnd Bank​ (-1.15%); ​Bajaj Finance​ (-0.90%); ​HCL​ (-0.85%)

JSW Steel’s crude steel production declines 2% quarter-on-quarter.

Reliance Industries gained over 1.5% to Rs 2,628 in early trade.

Natco Pharma shares gain 0.82 per cent to trade at Rs 685.20 in early trade.

Coffee producer CCL Products gains 4.21 pc, trading at Rs 721. It touched a 52-week high of Rs 727.20 on Wednesday.

The company crossed the milestone of $1 billion in market cap last month.

ICRA has upgraded Tata Motors’ long-term credit rating to ICRA AA/Stable from ICRA AA-/Positive.

MMTC shares down by 0.57 pc to trade at Rs 33.18 in early trade.

Animal feed firm Avanti Feeds gains 1 pc, trading at Rs 397.70.

Asian Paints has announced that its unit, Asian White Cement Holding, has been incorporated in the name of Asian White Inc. FZE in Fujairah Free Zone, UAE, on June 26, 2023, for the purpose of carrying out the business of manufacturing, trading, and exporting white cement.

Top gainers on Nifty50: Britannia (2.48; Power Grid Corporation of India (1.64); SBI Life (1.34%); Reliance Industries (1.21%); Nestle India (0.99%)

Prestige Estate Projects and its unit, Prestige Exora Business Parks, have entered into a joint venture agreement with WS Industries (India) to develop IT or IT-enabled services parks on a 6.53-acre property in Chennai. WS Industries proposed to implement the project through its unit, WS Insulators.

Brent crude oil futures traded marginally lower on Thursday morning despite American Petroleum Institute’s data showing a decline in the crude oil inventories in the US. At 9.20 am on Thursday, September Brent oil futures were at $76.52, down by 0.17 per cent.

July crude oil futures were trading at ₹5922 on Multi Commodity Exchange (MCX) in the initial trading hour of Thursday morning against the previous close of ₹5932, down by 0.17 per cent; and August futures were trading at ₹5951 as against the previous close of ₹5960, down by 0.15 per cent.

​​Hindustan Zinc​​ to consider interim dividend on July 8.

BSE has announced that it launched derivatives on ODIN platform.

ELEMARB: Final Dividend - Rs. - 3.30

​IDBI​: Dividend - Rs. - 1.00

KPIL: Final Dividend - Rs. - 7.00

YASHO: Dividend - Rs. - 0.50

Bonus issue 2:1

Previous day Closing Price – Rs. 145

Ex Bonus 07 July 2023 (Tomorrow)

Last date Trade for Before Bonus Today

The stocks of BSE are in focus as its board is considering share buyback, per reports.

Equity benchmarks BSE Sensex and NSE Nifty opened today’s session marginally lower. Asian Paints, SBI Life are top gainers, wile Hero MotoCorp, Tata Steel are top losers on Nifty50.

• Adani Green: for Preferential issue
• Avi Products India: AGM
• CrestChem: AGM
• GM Breweries: Quarterly results
• Inflame: preferential issue
• Orchasp: General
• Sarthak Metals: General
• TV Vision: Preferential issue

JBM Auto Components will replace HDFC in the BSE 500 index.

Adani Enterprises has fully repaid Rs 10 crore of commercial paper, which is unsecured, short-term debt. The flagship company of the Adani Group redeemed the commercial paper on July 5, which was the date of its maturity. There is no outstanding amount remaining, it said in an exchange filing.

The board of GG Engineering has approved issue of up to ₹49.88 crore. Right entitlement Ratio - 38 shares for every 29 held. The issue will open on July 20 and end on July 31.

Adani Wilmar has pegged its volume growth at 25% y-o-y for the June quarter, driven by strong demand in both food and edible oil categories. The sales value has declined, reflecting the sharp drop in edible oil prices. The Food & FMCG segment recorded volume growth of 20% and revenue growth of 30% to cross Rs 1,000 crore for the quarter on a standalone basis. The edible oil business grew 25% in volume terms and fell 15% in terms of value growth.

JSW Steel will replace mortgage major Housing Development Finance Corporation (HDFC) in S&P BSE Sensex index from July 13.

On S&P BSE 500, HDFC will be replaced by JBM Auto Components Ltd and on S&P BSE 100 by Zomato.

As on July 13, HDFC Ltd will be removed from all the other BSE indices.

Shares of Bombay Dyeing will remain in focus on reports that it is planning to sell a Central Mumbai land parcel at a valuation of ₹5,000 crore. A Japanese conglomerate leads the race. The land parcel has a development potential of 2 mn sq ft for commercial purposes, reports said.

Shares of Bombay Dyeing will remain in focus on reports that it plans to sell Central Mumbai land parcel ₹5,000 crore valuation Japanese conglomerate leads race among the bidders for to land which has a development potential of 2 mn sq ft for commercial purposes.

The board of GG Engineering has approved issue of up to ₹49.88 crore, with a rights entitlement ratio of 38 shares for every 29 held. The issue will open on July 20 and close on July 31.

The board of Hatsun Agro Product has approved the sale of the windmill division to VKA Polymers Pvt Ltd for ₹135 crore by way of transfer of all the assets and liabilities related to that on a slump sale basis.

KEC International Ltd, an RPG Group Company, has secured new orders worth ₹1,042 crore across businesses. The Railways business has secured its maiden international order for a Signaling & Telecommunication project in SAARC; the civil business has secured an order in the Metals & Mining segment from a reputed steel player in India; and the Transmission & Distribution business has secured orders for T&D projects in India, West Asia, Europe and the Americas.

The board of Hatsun Agro Product has approved the Sale of Windmill Division of the Company to VKA Polymers Pvt Ltd for ₹135 crore by way of transfer of all the Assets and Liabilities related to that on a Slump Sale basis.

Life Insurance Corporation of India (LIC) has diluted its shareholding in India Cements from 5.875 per cent to 3.833 per cent of the paid-up capital.

KEC International Ltd, an RPG Group Company, has secured new orders worth ₹1,042 crores across its various businesses: The Railways business has secured its maiden international order for a Signaling & Telecommunication project in SAARC; the civil business has secured an order in the Metals & Mining segment from a reputed steel player in India; and the Transmission & Distribution business has secured orders for T&D projects in India, Middle East, Europe and Americas

RPP Infra Projects has received a letter of acceptance for rectification of Black Spot at different locations on the Salem-Kumarapalaym section of NH-544 (Tamil Nadu) in the EPC mode, at a contract price of Rs 125.85 crore.

Thomas Cook (India) Ltd on Wednesday announced top-level rejig with Madhavan Menon designated as Executive Chairman, while Mahesh Iyer has been elevated as Managing Director and Chief Executive Officer.

RPP Infra Projects has received a letter of acceptance for a new project - rectification of Black Spot at different locations in the project of Salem-Kumarapalaym section of NH-544 (Tamil Nadu) on EPC mode, at a contract price of ₹125.85 crore.

The board of Solara Active Pharma Sciences has approved raising up to Rs 450 crore through a rights issue.

RBI has given its nod to Tata Assset Management Company to raise stake in DCB Bank to 7.50 per cent

JSW Steel will replace mortgage major Housing Development Finance Corporation (HDFC) in the S&P BSE Sensex index from July 13. On the S&P BSE 500, HDFC will be replaced by JBM Auto Components Ltd and on the S&P BSE 100 by Zomato. As on July 13, HDFC Ltd will be removed from all the other BSE indices.

Tata Power has received Letter of Award ‘LOA’ to implement smart metering project in Chhattisgarh State Power Distribution Company Limited (CSPDCL). The value of Project awarded to Tata Power is about ₹1,744 crore and the project will be spanned over a period of 10 years.

Media reports indicated that Piramal Enterprises will execute a block deal of up to 60 lakh shares. One FII investor is likely to sell the shares at a discount of up to 2 per cent to the current market price.

Nutricircle Ltd has entered into Memorandum of Understanding (MOU) with AgHub Foundation, a company registered under Section 8 of the Companies Act, 2013, for the Enterprise Acceleration Program.

JSW Steel to issue monthly production numbers today.

Tata Power has received a Letter of Award ‘LOA’ to implement a ₹1,744-crore smart metering project in Chhattisgarh State Power Distribution Company Ltd (CSPDCL), spanning a period of 10 years.

Cosmic CRF Ltd has bagged an order worth a basic value of ₹21.27 crore, corresponding to a gross amount of ₹25.09 crore (inclusive of GST). The order is expected to be completed in the next four months. As on date, the total value of orders on hand, including this order, amounts to ₹380 crore.

1QFY24 was a mixed bag from demand perspective, with signs of volume growth moderation in some segments. Demand largely remained intact for domestic 2Ws and PVs, whereas volumes declined for CVs (due to pre-buy in 4QFY23) and tractors (high inventory and Navratras in Mar-23). 2W exports remained weak.

In terms of wholesale volumes, we estimate 1QFY24 volumes to grow 3% YoY for 2Ws, 33% YoY for 3Ws, and 11% YoY for PVs, while it is expected to decline by 1% YoY for M&HCVs, 6% YoY for LCVs, and 3% YoY for tractors. Domestic 2W volumes grew 12% YoY whereas exports declined 20% YoY.

Tata Power, Piramal Enterprises, JSW Steel, Nutricircle, DCB Bank, Solar Active Pharma, Thomas Cook, RPP Infra, Bombay Dyeing, Hatsun Agro and GG Engineering are some of the stocks that are in focus today.

Marico Ltd’s domestic volumes grew in low-single digits, with a minor volume drop in Parachute Coconut Oil in Q1 FY24. The company’s consolidated revenue in the quarter declined in low-single digits. Its gross margin is expected to expand materially on a YoY and QoQ basis.

Expansion in operating margin is expected to drive double-digit growth in the bottom line. It is also expecting a visible pickup from the coming quarter in primary volume growth. Its stock price gained 2% on Wednesday on NSE.

The short-term outlook is bullish for Rashtriya Chemicals & Fertilizers.The stock surged over 5 per cent on Wednesday breaking above the key resistance level of ₹113.50.

The region between ₹114 and ₹113 will now act as a strong support. Moving average cross-over on the daily chart strengthens the bullish case.

Domestic markets are expected to open weak on Thursday. NSE-SGX Connect futures at 19,484 indicates a marginal decline as Nifty futures on Wednesday closed at 19,466.85.

Analysts expect profit taking even as foreign portfolio investors continue to pump in money.

Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC.