Stock Market Live Updates 28 June 2024: Sensex, Nifty edge up in late trading; RIL spurts over 3%

Vinod Nair, Head of Research, Geojit Financial Services

“India’s optimism about the upcoming budget and upgrade in GDP forecasts continues to provide momentum in the market. Large caps are in favour due to the come back of FIIs. However, profit booking ensued at the end of the week, at higher levels, in financials especially private banks, which dragged the market down after the recent rally.”

Top gainers: Dr Reddy’s Laboratories (2.63%), ONGC (2.56%), Reliance Industries (2.19%), Hero Motocorp (1.91%), SBI Life (1.88%)

Top losers: Axis Bank (-1.95%), ICICI Bank (-1.86%), Bharti Airtel (-1.82%), Kotak (-1.51%), IndusInd (-1.48%)

Central Bank of India has entered into a co-lending partnership with Grihum Housing Finance Ltd (formerly Poonawala Housing Finance Ltd) to offer MSME loans. 

The Central Bank of India stock closed at ₹62.85 on the NSE, up 1.32%.

Indian Metals & Ferro Alloys Ltd has received two orders dated June 25, 2024, and June 26, 2024, each from the Office of the Regional Director, Eastern Region, Ministry of Corporate Affairs, levying an aggregate compounding fee of ₹41 lakh on the company and its current and former KMPs. The company has made the necessary compounding fee payment to relevant authority. 

Indian Metals & Ferro Alloys stock trades at ₹742.55 on the NSE, up 0.11%.

Top gainers: ONGC (2.64%), Dr Reddy’s Lab (2.60%), Reliance (2.26%), SBI Life (2.03%), Tata Motors (1.98%)

Top losers: Bharti Airtel (-1.91%), Axis Bank (-1.77%), ICICI Bank (-1.54%), IndusInd (-1.38%), Kotak (-1.34%)

Of a total of 3,982 stocks traded on the BSE at 3 pm on Friday, 2,200 advanced, while 1,666 declined; 116 stocks remained unchanged. While 260 stocks recorded a 52-week high, 21 hit a 52-week low. In addition, 307 stocks traded in the upper circuit, while 202 hit the lower circuit.

Guruvayoor Infrastructure Pvt Ltd (GIPL), a subsidiary of Bharat Road Network, has received a charge-sheet from the Additional Sessions Court in Ernakulam pursuant to a summons issued under Section 61 of the Code of Criminal Procedure Act, 1973, alleging charges u/s 120-B read with 420, 406 IPC read with section 13(2) read with 13(1)(d) of Prevention of Corruption Act, 1988.

Bharat Road Network stock traded at ₹44.86 on the NSE, lower by 1.19%.

United Spirits has received an order from the Deputy Commissioner of Excise, Hassan district, Karnataka, imposing compounding / settlement fee of ₹50,000, due to selection of wrong code while generating OFS. The stock trades at ₹1,277.55 on the NSE, down by 0.80 per cent.

HDFC Life Insurance Company has received an income tax order from the Assistant Commissioner of Income Tax, Central Circle 6(2), Mumbai, for a tax demand worth ₹1,495.17 crore, with interest of ₹592.41 crore. Stock trades at ₹594.05 on the NSE, up 0.13%.

PCHFL, the wholly owned subsidiary of Piramal Enterprises, has been assigned credit ratings by ICRA, “Ba3 long term corporate family rating (CFR). The outlook is stable”. 

PEL stock trades at ₹932.35 on the NSE, up by 1.80%.

DCM Shriram commissioned its 120 MW power plant at its Chemical complex in Jhagadia, Bharuch, Gujarat. 

Stock trades at ₹986 on the NSE, up by 0.38%.

Top gainers of Nifty bank stocks:

• PNB (3.68%)
• Bandhan Bank (2.02%)
• Bank of Baroda (1.49%)
• SBI (1.29%)

Heubach Colorants India informed that Bharath Sesha, Managing Director of the Company, has submitted his resignation vide letter dated June 28, 2024, to pursue other opportunities outside the organisation.

​Jubilant Foodworks​ informed that the proposed internal restructuring of certain overseas subsidiaries of the company is being deferred till further intimation.

Stock trades at ₹561.80 on the NSE, up 1.71%.

HealthCare Global Enterprises has entered into a share purchase agreement with Vizag Hospital and its selling shareholders, and shareholders’ agreement (SHA) with Vizag Hospital and its continuing shareholders in relation to the proposed (i) upfront acquisition of 51% equity share capital by the Company and (ii) balance acquisition of 49% of equity share capital in Vizag Hospital in tranches.

Healthcare Global Enterprises stock is up 1.39% on the NSE, trading at ₹376.60.

NHPC has signed Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for 200 MW capacity Solar Power Project within GSECL’s RE Park at Khavda (GSECL Stage-3). The estimated financial implication for the project would be ₹846.66 crore (approx.). 

NHPC stock surges 2.57% on the NSE, trading at ₹101.11

Whirlpool of India clarified regarding a news item: Bosch weighs offer for appliance maker Whirlpool, say sources.

It said it relates to ultimate holding company i.e. Whirlpool Corporation, US and not Whirlpool of India Ltd. 

Whirlpool of India stock trades at ₹1,976 on the NSE, down by 0.42%.

TARC board has approved issuance of secured, listed, rated Non-Convefiible Debentures (NCDs) on private placement basis upto ₹1,000 crore. Board has also approved providing of any loans, guarantee or security under Section 185 of Companies Act,2013, upto ₹3000 crore.

Stock trades at ₹190 on the NSE, up 0.11%.

The New Energy giga-factories owned by RIL are anticipated to open in 2024. RIL aims to establish scale electrolyser and solar capacity by using significant captive hydrogen demand as an anchor. In the foreseeable future, investors shouldn’t anticipate significant EBITDA from these projects. On the other hand, better RIL communication on this matter might become a stock driver. Maintaining a net debt to EBITDA ratio of less than 1x, as per the company’s recent guidance, also suggests good free cash flow generation.

The scrip is witnessing pre-rollovers of 54%, with the next series showing aggressive put writers building up their positions convincingly at 2900PE, with more than 4,100 contracts overall. Call writers also hint at upside potential up to 3,200, with maximum fresh additions at 3200CE, with more than 445 contracts. The stock has been consolidating monthly between the 2850-2940 zones. A breach on the upside will likely trigger sharp momentum towards higher targets.

Top gainers on the NSE:

Dr Reddy’s Laboratories (2.58%), ONGC (2.45%), Tata Motors (2.20%), SBI (1.75%), Reliance (1.65%)

Top losers:

Bharti Airtel (-1.08%), Axis Bank (-1.05%), ICICI Bank (-0.93%), Kotak Bank (-0.70%), Ultratech Cement (-0.70%)

Stocks advanced on BSE as of 12.05 pm on June 28, 2024, were 2,229 against 1,500 stocks that declined; 142 stocks remain unchanged. Total stocks traded were 3,871. The number of stocks that recorded a 52-week high was 226, and those that hit a 52-week low was 17. 

In addition, 269 stocks traded in upper circuit, while 175 hit the lower circuit.

Orient Bell Limited incorporated a wholly-owned subsidiary named Cestrum Enterprises Pvt Ltd on June 27, 2024. 

Stock trades at ₹399.40 on the NSE, down by 0.75%.

Tamilnad Mercantile Bank has opened a new branch in Thiruchitrambalam, Thanjavur. 

TMB stock trades at ₹474.50 on the NSE, down by 0.33%

H.G. Infra Engineering has incorporated the following subsidiary companies: 1. H.G. Nayabera Solar Project Private Limited 2. H.G. Chanpura Solar Project Private Limited.

HG Infra stock trades at ₹1,768.90 on the NSE, up by 0.74%.

NODWIN Gaming Private Limited, a material subsidiary of Nazara Technologies, announced its Singapore based subsidiary, NODWIN Gaming International Pte. Ltd, has signed definitive agreements to increase its existing 13.51% stake in Freaks 4U Gaming GmbH, a Berlin-based Global full-service gaming and esports agency to 100% in tranches through a share swap valued at upto ₹271 crore (Euro 30.3 million).

Nazara stock rose 2.79% on the NSE, trading at ₹836

Stanley Lifestyles, the leading Indian luxury furniture brand, made a notable debut on the stock exchanges, listing at Rs. 494.95 per share. This translates to a significant 34.13% gain over its issue price of Rs. 369. While this performance is undoubtedly positive, it falls short of pre-listing expectations that likely anticipated an even higher premium due to the overwhelming investor response.

The strong listing signifies investor confidence in Stanley Lifestyles’ established brand, diverse product portfolio, and consistent financial performance. However, the high IPO valuation and identified risks, such as dependence on sofa and recliner sales and geographical concentration, warrant careful consideration.

Existing investors may hold their shares with a suggested stop loss of 450.

The Bank Nifty index is hovering around 53,000. The break above 53,000 witnessed on Thursday did not sustain. The index touched a high of 53,180.75 on Thursday and has come down from there. It is currently trading at 52,955, up 0.27 per cent for the day. The advances/ declines ratio is at 8:4. This is positive.

The Nifty continues to move higher. The index touched a new high of 24,174 and has come down slightly from there. It is currently trading at 24,134, up 0.37 per cent. The advances/ declines ratio is at 31:19. This is positive and indicates that sentiment is positive and a further rise is on the cards for the day.

Nomura identifies aggressive expansion targets and stronger balance sheets of major cement players as key drivers for sector consolidation.

The current market conditions, reminiscent of FY14-17, indicate better pricing discipline. Ambuja and Ultratech are anticipated to lead this trend.

The plant-based acquisitions are expected to rise due to the CCI’s de minimis exemption, allowing larger companies to acquire assets more easily. Additionally, succession issues offer promoters another reason to exit non-stressed businesses.

Nomura’s top buy recommendations include Shree Cement, Ultratech, Ramco Cements, and Nuvoco.

Crude oil futures traded higher on Friday morning over the escalation of tensions in West Asia.

At 9.52 am on Friday, September Brent oil futures were at $85.67, up by 0.48 per cent, and August crude oil futures on WTI (West Texas Intermediate) were at $82.21, up by 0.57 per cent.

BHEL has clarified that the company had submitted an offer for the 2x800 MW DVC Koderma tender in Jun’2024, which is an activity in the normal course of business. Order is yet to be confirmed by DVC.

BHEL stock rose 2.22% on the NSE, trading at ₹303.55

Gujarat Gas Ltd (GGL) has earmarked Rs 1,200 crore as capital expenditure for financial year 2024-25. A large portion of this capex will be used to expand its pipeline network and to provide new piped natural gas connections to over 3.3 lakh households in six states, including Gujarat.

The city gas distribution (CGD) company is also looking to set up 200 CNG stations in at least four states in the next two years. “In the last financial year we had a capex of ₹900 crore. This year, we will be increasing it by over 33 per cent to ₹1,200 crore,” a Gujarat Gas official told businessline.

360 One WAM (8.70%), Pilani Investment (8.54%), Cholamandalam Financial Holdings (6.41%), GTL Infra (4.82%), Senco Gold (4.74%)

KPI Green Energy trades at ₹1,747, higher by 1.63% on the NSE.

The company had received sanction letter for credit facilities amounting to ₹686 crore for the development of a 200 MWAC (240 MWDC) Solar Photovoltaic Power Project in Khavda, Kutch, Gujarat.

The NSE Nifty was up by 0.48 per cent or 114.30 points at 24,158.80, while the BSE Sensex was at 79,497.83, up by 0.32 per cent or 254 points at 9.40 am on Friday.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The market momentum has the potential to take the Sensex to the 80000 level. The healthy trend in the recent rally is that it is driven by fundamentally strong large caps such as RIL, Bharti and the leading private sector banks. However, corrections can happen any time since the market is in the overbought zone and DIIs are booking profits. It is interesting to note that in the tug-of-war between the FIIs and DIIs, the latter have emerged victorious whenever this has happened in the last three years.

Jubilant Ingrevia stock trades at ₹524.85 on the NSE, higher by 1.56%. Company announced outcome of the USFDA inspection with the receipt of Establishment Inspection Report (EIR) with Zero 483 inspectional observations for the inspection performed in April at its Manufacturing facility, Unit -1 located at Bharuch, Gujarat, India.

Underperform Call, Target Rs 2,125

Co’s Specialty Chemicals Segment Faces Headwinds From Price Erosion In Key Products 

Price Erosion In Key Products Due To Chinese Competition 

Price Erosion Due To Negative Operating Leverage On Recently Commissioned Capacities 

Refgas Outlook Is Muted On Persistent High US Inventories & Chinese Competition In Row 

Cut FY25/26 EPS 9%/4% On Sustained Headwinds And Are 15%/14% Below Consensus

Nomura on Cement Sector

Aggressive Expansion Targets Provide Impetus For Consolidation 

Stronger Balancesheet Of Large Players Provide Impetus For Consolidation 

Aggressive Expansion Targets & Stronger Balancesheet Should Result In Better Pricing Discipline 

Current Dynamics Reminiscent Of FY14-17; Ambuja And Ultratech To Lead The Pack 

Plant-based Acquisition To Increase Due To De Minimis Exemption Of CCI 

Minimis Exemption Of CCI Enables Larger Companies To Keep Acquiring Asset 

Succession Issue Provides Another Reason For Promoters To Exit A Non-stressed Business 

Prefer Buys – Shree Cement, Ultratech, Ramco Cements & Nuvoco 

Overweight Call, Target Rs 5,123

Competitive Intensity In Online Grocery Space Remains Sharp 

Amazon Fresh To Expand To 130 Cities From 60 Cities 

For The First Time, JioMart Leads DMart Ready On Product Discounting 

Big Basket Leads DMart Ready On SKU Availability 

JioMart And DMart Ready Seem To Be Piloting Faster Delivery 

Hike in tariffs by 13%-25%; JioPhone plans unchanged 

RJio’s tariffs now at 15%-21% premiums to Bharti & VI Historically, Bharti & VI tariffs have been at c.20%-25% premiums to RJio 

Key will be whether Bharti & VI lift tariffs over coming days or follow with a lag 

Bernstein on Telecom

Reliance Jio - takes the lead. Announces tariff hike 

Quantum & Timing largely in line with expectations 

Expect Bharti A to follow and announce tariff hike for its 4g customers 

Expect Bharti & VI to follow with a 20-25% hike across plans 

CITI on Telecom

Jio Takes Lead On Tariff Hikes 

3 +ve Implications 

1) Magnitude of hike is impressive 

2) Jio taking lead signals a shift in thinking from market leader & suggests peak of competitive intensity is behind us; 

3) Jio taken a step towards indirectly monetising 5G 

Jefferies on Telecom

Reliance Jio has raised tariffs by 13-25% 

Jio’s willingness to raise tariffs bodes well for Bharti/Jio’s revenue/margin outlooks. 

Maintain Buy on Bharti, TP Ts 1720 

Buy Call, Target Raised To Rs 3,580 

Jio Has Raised Tariffs By 13-25% 

Cut Jio’s FY25-27 Est By Up To 3% 

Expect Jio To Deliver 18/26% Revenue/PAT CAGR Over FY24-27 

Tweak RIL’s FY25/26 EBITDA By 0-1% To Incorporate Jio’s Nos 

MS on RIL

Overweight Call, Target Rs 3,046 

RIL’s Announced Telecom Tariff Increases In-line With Our Base Case Expectation 

Monetisation Of Investments Remains In Play 

Next Catalyst To Watch Will Be Startup Of New Energy Cashflow Streams By End-2024 

Do Not Assume Any Further Tariff Hikes Till FY27 

But Another Approx 20% Tariff Hike Next Yr Can Raise Earnings By 10-15% 

Issue Open - 28-Jun-24 (Today)

Issue Close - 04-Jul-24 

Right issue Size: Rs. 2,000 Crs (1.21 Crs Shares)

Stock Price – 2011.80/-

Right issue Price: Rs. 1,651/-

Payment Terms: Rs. 1,651/- (Rs 825.50 has to be paid on application and remaining amount will be called in two subsequent calls on or before December 31, 2025)

Rights Entitlement Ratio: 6 Rights Equity Share for every 47 shares held (Effectively 0.13 for every 1 share held).

Last Trade date (Cum Right): 18 Jun 2024

Ex-Right Trading date: 19 Jun 2024

Record Date: 19 Jun 2024

Right Entitlement (RE) Trading Period:- 28 Jun 2024 to 01 Jul 2024

Last day of Renunciation of Rights Entitlements: 01 Jul 2024

Date of Allotment (on or about): 12 Jul 2024

Date of listing (on or about): 16 Jul 2024

Wipro Ltd has signed an MoU with Anna University in Chennai to provide faculty and students skill-based training on VLSI design. It plans to set up an innovation centre to offer skill-based courses to sixth and seventh semester students of the electronics department.

The course will be delivered by Wipro’s Talent Skilling Team. Students will get internships to work on real-time problems and placement opportunities on completing the course. Faculty will also be trained in these courses , a release from Anna University said.

Samir Modi, Executive Director of Godfrey Phillips India, on Thursday got some relief from a Delhi Court in the ongoing tussle with his mother Bina Modi, who is the Chairperson of the company. A Delhi Court in Saket has directed the two parties to maintain the “status quo” till the next hearing, putting restrictions on the removal of Samir Modi from the Board of Directors. It also restricted the discontinuation of the retail chain being operated under the brand 24Seven.

Lupin has received an Order from the Court of Justice of the European Union. It dismissed the final appeal filed by the Company against the order of the European Commission levying fine of Euro 40 million, in July 2014.

Lupin stock traded at ₹1,602.05 on the NSE, higher by 1.18%.

Top gainers on NSE at 9.30 am:

NTPC (2.57%), ONGC (2.04%), Dr Reddy’s Lab (1.91%), Coal India (1.63%)

Top losers:

Adani Ports (-1.46%), Grasim (-1.33%), Ultratech Cement (-1.15%), Shriram Finance (-0.96%), M&M (-0.66%)

Crude oil futures traded higher on Friday morning over the escalation of tensions in West Asia region. At 9.13 am on Friday, September Brent oil futures were at $85.59, up by 0.39 per cent, and August crude oil futures on WTI (West Texas Intermediate) were at $82.16, up by 0.51 per cent. July crude oil futures were trading at ₹6856 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday morning against the previous close of ₹6804, up by 0.76 per cent, and August futures were trading at ₹6802 against the previous close of ₹6759, up by 0.64 per cent.

Brigade Enterprises: Company launches 6-tower residential project in Yelahanka, Bengaluru.

Jubilant Ingrevia: Company successfully receives establishment inspection report (EIR) from USFDA concluded with zero 483 inspectional observation.

INFOSYS: QORUS and Infosys Finacle Collaborate To Recognize Banking Innovation Initiatives Worldwide

Navkar Corporation: JSW Infra’s arm JSW Port Logistics to acquire majority stake of Navkar Corporation 

Bajaj Auto: Company starts production at first overseas manufacturing plant in Brazil, even as exports slumped. 

Ambuja Cements: Adani Group firm Ambuja Cements said its board of directors approved the merger with Adani Cementation Ltd with the company. 

TVS Motor: Company incorporates wholly-owned subsidiary in Dubai, UAE.

Sahmi Hotels: GTI Capital Alpha likely to sell 3% stake in Samhi Hotels via block deals, sources

BHEL: Company has bagged the Rs 13,300 crore order to set up a 1600 MW thermal power plant in Koderma in Jharkhand from Damodar Valley Corporation (DVC). 

Bharti Airtel: Company’s Nxtra has joined the RE100 initiative led by Climate Group in partnership with CDP.

Tega Industries: Company unit entered into contract as consortium member with NMDC Ltd.

Reliance Ind: Jio announces an increase in tariffs in the range of 12-25% 

Swan Energy: Company Says Pre - Payment of Rupees 300 Cr Debt for Its Floating Storage and Regasification Unit (Fsru) Project. 

HCL tech: Company announced 0.46% of equity at discount of 2.75% to closing price 

RBL Bank: Board approves fund raising up to ₹3,500 crore via QIPs in one or more tranches via debt securities

AU Small Finance Bank: To raise funds up to ₹5,000 crore via QIP & other modes.

Ambuja Cements: Board approves merger of Adani Cementation with the company.

Raymond: Re-appoints Gautam Hari Singhania as MD of the company 

AU Small Finance: Board will consider the proposal of raising funds by issue of equity shares. 

BPCL: NCLT approves BPCL’s subsidiary’s offer for acquisition of Videocon Energy Brazil for up to $270 million 

Sagar Cements: Company re-appoints S Anand Reddy as Managing Director & S Sreekanth Reddy as Joint Managing Director of the Company for a period of three (3) years.

NBCC: Company Approved Appointment of Saleem Ahmad as Chief Financial Officer.

Polycab: Promoters to sell upto 2.04% stake via block deal 

Vedanta: Company raises Rs 2,500 crore via NCDs 

Yes Bank: Executes one-time-settlement in one of its stressed loan exposures.

Wipo: Company units Designit North America and Wipro Design it Services complete merger effective July 1.

RVNL: Company incorporates subsidiary RVNL Middle East Contracting in Dubai

IPCA Lab: EU Court upholds Rs 126 crore fine imposed on IPCA Labs’ subsidiary, Unichem Laboratories.

Asian Paints: Company’s Singapore unit completes acquisition of 23.4% stake in Egypt’s SCIB Chemicals for Rs 34 crore.

India Cement: UltraTech Cement bought 7.05 cr shares at Rs 267.74/sh 

Mahindra Lifespace: Board Meeting On July 24 To Consider Q1 Results.

Silver prices slipped lower but were on track for their third consecutive quarterly increase, as investors awaited critical U.S. inflation data due later in the day, which could shed light on the Federal Reserve’s stance on interest rate cuts. Data showed that company spending on equipment fell in May, while a drop in exports increased the goods trade imbalance, highlighting the slowing economy. In its third estimate of GDP for the January-March quarter, the government confirmed that economic growth slowed considerably in the first quarter. U.S. Federal Reserve Governor Michelle Bowman emphasised that she is still unwilling to support a central bank rate drop while inflationary pressures remain high.

Gold slipped lower to approximately $2,320, after increasing more than 1% the previous session, as investors became cautious ahead of the release of important inflation data later in the day to gauge the Federal Reserve’s policy stance for the year. The annual PCE inflation rate, the Fed’s favoured inflation indicator, is forecast to fall from 2.7% to 2.6%, while the core PCE is expected to fall from 2.8% to 2.6%. Meanwhile, yesterday’s data showed the US economy losing momentum, with wholesale inventories falling short of expectations, the final GDP figure much lower, and jobless claims jumping to their highest level since late 2021, indicating a deteriorating labour market.

The initial public offering of Vraj Iron and Steel will close today for subscription. The company has pegged the price band at ₹195-207, with a lot size of 72 equity shares and in multiples of 72 thereafter. The ₹171-crore IPO has been subscribed 16.93 times so far, as non-institutional investors (HNIs) and retail investors made aggressive bids.

Vraj Iron and Steel has set aside 15 per cent of the issue for non-institutional investors (NII), up to 50 per cent for qualified institutional buyers (QIB), and 35 per cent for retail investors. 

Shares of Stanley Lifestyles will be listed at the bourses today. The company has fixed the IPO price at ₹369.

The initial public offering of the Bengaluru-based Stanley Lifestyles was subscribed 96.98 times, thanks mainly to qualified institutional buyers and non-institutional investors (HNIs).

The portion reserved for HNIs was subscribed over 119.52 times, while that for retail investors was subscribed 19.21 times. However, the QIB portion saw aggressive bidding on the last day, taking the subscription to 222.10 times.

Neutral rating and a Rs230.00 price target

Expect a limited and gradual decline in the relatively high credit costs 

Pending appointment of the new CEO to remain an overhang, in our view, for medium-term strategic clarity.

Buy, tgt 500, 27% upside

Stock is yet to factor in project execution hereon which is expected to double the group’s revenue in 3-4 years

Risk/Reward proposition favorably placed

ALEXANDER 

A.G.M 

CENLUB 

General 

KACL 

General 

KRONOX 

Audited Results 

LCCINFOTEC 

General 

RATNAVEER 

Increase in Authorised Capital;Preferential Issue of shares;Issue Of Warrants

RRETAIL 

General 

AEROFLEX 

Final Dividend - Rs. - 0.2500

ANDHRAPET 

Dividend - Rs. - 2.0000

AVONMORE 

Stock Split From Rs.10/- to Rs.1/-

BAJAJHLDNG 

Final Dividend - Rs. - 21.00003

BANKBARODA 

Dividend - Rs. - 7.6000

DBOL 

Final Dividend - Rs. - 2.5000

GICHSGFIN

Final Dividend - Rs. - 4.5000

GPIL 

Buy Back of Shares 

INDUSINDBK 

Final Dividend - Rs. - 16.5000fwog

KPIL 

Final Dividend - Rs. - 8.0000

KSOLVES

Interim Dividend - Rs. - 8.0000

MAHSCOOTER 

Final Dividend - Rs. - 60.0000

MAWANASUG 

Final Dividend - Rs. - 4.0000

NAM-INDIA 

Final Dividend - Rs. - 11.0000

RECLTD 

Final Dividend - Rs. - 5.0000

RPGLIFE 

Final Dividend - Rs. - 16.0000

SWARAJENG 

Final Dividend - Rs. - 95.0000

SYNGENE 

Final Dividend - Rs. - 1.2500

VAIBHAVGBL 

Final Dividend - Rs. - 1.5000

WELCORP 

Final Dividend - Rs. - 5.0000

GIFT Nifty +77 pts (23182) from last trade 24105 , 

Nikkei +425 pts , 

Hangseng -133 pts , 

Now @6.53am . 

Dow +36.26 pts ,Nsdq +55.53 pts, S&P 

+4.97 pts , Bovespa +1666 pts , Ftse -45 pts , Dax +55 pts , Cac -78 pts , Crude @ $80.67 brl (-0.23), Brent @ $88.51 brl (+0.01) , Gold @ 2337.80 (+1.20), Silver $28.95 (+0.03), Euro @ $1.0706, JPY @ $160.72, INR @ 83.455

Dishman Carbogen

Arms manufacturing sites located in Hunzenschwil (Neuland), Switzerland and Aarau, Switzerland, have successfully completed by USFDA. inspections at both the above-mentioned sites were concluded with no Form 483 and classified as No Action Indicated.

Jefferies on Bharti Airtel: Maintain Buy on Company, raise target price at Rs 1720/Sh (Positive) 

Emkay on JK tyre: Maintain Buy on Company, raise target price at Rs 700/Sh (Positive) 

MOSL on Godrej Prop: Maintain Buy on Company, target price at Rs 3600/Sh (Positive) 

Emkay on Star Health: Upgrade to Buy on Company, raise target price at Rs 650/Sh (Positive) 

Citi on Nuvama wealth: Maintain Buy on Company, target price at Rs 6000/Sh (Positive) 

Emkay on Man Ind: Initiate Buy on Company, target price at Rs 500/Sh (Positive) 

Jefferies on SRF: Maintain Underperform on Company, raise target price at Rs 2125/Sh (Positive) 

MS expects telecom sector companies like Bharti Airtel and others to announce price hike for 4G subscribers soon (Positive) 

MS on Reliance Ind: Maintain Overweight on Company, target price at Rs 3046/Sh (Neutral) 

Incred on Tata Tech: Initiate Reduce on Company, target price at Rs 797/Sh (Neutral) 

Incred on Tata Elxsi: Initiate Reduce on Company, target price at Rs 6064/Sh (Neutral) 

UBS on Bandhan Bank: Initiate Neutral on Company, target price at Rs 230/Sh (Neutral) 

Emkay on Ultratech: Maintain Buy on Company, target price at Rs 11200/Sh (Neutral) 

Citi on Ultratech: Maintain Buy on Company, target price at Rs 11139/Sh (Neutral) 

Citi on Ambuja: Maintain Neutral on Company, target price at Rs 675/Sh (Neutral) 

Bernstein on Bajaj Fin: Initiate Market perform on Company, price at Rs 6800/Sh (Neutral) 

JPMorgan on Tariff Hike: 20% tariff hike by Jio is a tad lower than our expectations of 25% (Neutral) 

UBS on Tariff Hike: Price increases are in-line to slightly above consensus, but this also means a key catalyst has played out (Neutral)

Ex-Dividend 1 July 2024 (Monday)

Last date for Cum-Dividend Today

Geojit Financial Services Ltd

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 103.46

Ghcl Ltd.

Dividend Per Share Rs.12

Previous day Closing Price – Rs. 550.5

Ghcl Textiles Ltd

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 89.74

Lloyds Enterprises Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 31.92

Tata Communications Ltd.

Dividend Per Share Rs.16.7

Previous day Closing Price – Rs. 1859.35

June was fabulous for market participants, as Nifty and Sensex gained around 7 per cent. Today, the last day of trading in June and the beginning of a fresh monthly series (September)at the NSE, analysts expect bullish momentum to be sustained. According to them, the focus has shifted to the Union Budget, which will be announced in the third week of July. Until such time, the market will move in a narrow range, and a few stocks and sectors will be volatile. However, analysts expect billions of dollars in inflow from foreign investors as JPMorgan is adding the country’s sovereign debt to its emerging markets index today. This will be a big positive for the market sentiment, they opined.

GMR Power: Company unit named GHVEPL settles claims with NHAI || Company says NHAI agrees to pay rupees 1,387 crore in 2 tranches to GHVEPL and project will be handed back to NHAI on 1st July

Markets regulator SEBI on Thursday decided to streamline the process for public issuance of debt securities to provide faster access to funds for such issuers.

Under this, the SEBI’s board has decided to reduce the period for seeking public comments on the draft offer documents from 7 working days to 1 day for issuers whose specified securities are already listed and 5 days for other issuers.

Further, the minimum subscription period has been cut from 3 to 2 working days, and the listing timeline has been reduced from T+6 to T+3 working days, which will be initially optional for one year and mandatory thereafter, SEBI chief Madhabi Puri Buch said in a press conference.

Gold prices edged lower on Friday but were headed for their third consecutive quarterly rise, while investors looked toward key U.S. inflation data due later in the day that could throw some light on the Federal Reserve’s stance on interest rate cuts.

FUNDAMENTALS

* Spot gold was down 0.3% at $2,321.39 per ounce. Prices are up about 4% for the quarter. Bullion remained flat for both the week and the month.

* U.S. gold futures were down 0.2% at $2,332.10.

* The dollar was up 0.2%, making gold more expensive for other currency holders, while benchmark 10-year yields also edged higher for the day. - Reuters

Asian stocks opened higher on Friday, following Wall Street rallies as traders anticipated key US inflation data.

The benchmark Nikkei 225 index rose 1 percent, or 394.97 points, to 39,736.51 in early trade, while the broader Topix index increased by 0.80 percent, or 22.28 points, to 2,815.98. South Korea’s KOSPI remained nearly flat, gaining 0.08 percent, or 2.44 points, to 2,786.50. Australia’s S&P/ASX 200 climbed 0.76 percent, or 58.70 points, to 7,818.30.

Overnight, US stocks closed Thursday around the unchanged mark as investors awaited fresh inflation data. The Nasdaq managed a slight gain after data showed a continued slowdown in economic activity, raising hopes for rate cuts.

The Dow Jones Industrial Average increased by 36.53 points, or 0.09%, to 39,164.33. The S&P 500 added 5.16 points, or 0.09%, to 5,483.06, and the Nasdaq Composite rose by 53.53 points, or 0.30%, to 17,858.68.

Buzzing stocks: Reliance Industries, BHEL, JSW Infra, Raymond, Ipca Lab, Ambuja Cements, Tega Ind, Kalpataru Projects, Jubilant Ingrevia, KPI Green, RBL Bank, AU Smal Finance, Brigade Enterprises, Asian Paints, CFF Fluids, Wanbury, DCM Shriram

Stock split : 10:1 

Record Date: 10th July 24

From ₹10 FV to ₹1 FV

Gensol Engineering Ltd.

Revoke of 6,00,000 equity shares by Promoter & Director Anmol Singh Jaggi 

Hindustan Foods Ltd. 

MORGAN STANLEY ASIA SINGAPORE PTE bought 10,70,000 @ Rs. 502.00 

BLS E-Services Ltd. 

L7 HITECH PRIVATE LIMITED bought 5,20,009 @ Rs. 255.03 

Affle (India) Ltd. 

ICICI PRUDENTIAL MUTUAL FUND bought 7,75,1 94 @ Rs. 1,290.00 

Monetary Authority of Singapore bought 16,1 6,856 @ Rs. 1,290.00 

Paisalo Digital Ltd. 

EBISU GLOBAL OPPORTUNITIES FUND LIMITED bought 1,48,00,000 @ Rs. 75.47 

Sharda Motor Industries Ltd. 

AXIS INDIA MANUFACTURING FUND bought 1,54,985 @ Rs. 1,996.10 

Salasar Techno Engineering Ltd. 

EBISU GLOBAL OPPORTUNITIES FUND LIMITED bought 1,38,80,000 @ Rs. 19.27 

Rossell India Ltd. 

NOMURA SINGAPORE LIMITED sold 5,55,803 @ Rs. 553.50 

Titagarh Railsystems Ltd. 

BLACKROCK GLOBAL EMERGING MARKETS FUND INC bought 9,46,357 @ Rs. 1,618.0 

Rashmi Chowdhary sold 26,93,475 @ Rs. 1,618.00 

Deep Energy Resources Ltd. 

EBISU GLOBAL OPPORTUNITIES FUND LIMITED bought 2,06,553 @ Rs. 170.75 

NOMURA SINGAPORE LIMITED sold 2,06,553 @ Rs. 170.75 

UFO Moviez India Ltd. 

EBISU GLOBAL OPPORTUNITIES FUND LIMITED bought 2,57,261 @ Rs. 137.80 

NOMURA SINGAPORE LIMITED sold 2,57,261 @ Rs. 137.80 

Inox Green Energy 

SOCIETE GENERALE Block bought 29,49,716 @ Rs. 166.50

INFOSYS: INFOSYS BPM INAUGURATES SECOND FACILITY IN PUERTO RICO WITH USD 200,000 INVESTMENT, CREATING 325 NEW JOBS

TVS MOTOR CO: CO INCORPORATES A UNIT NAMED ‘TVS MOTOR CO DMCC’ IN DUBAI WITH AED 50,000 INVESTMENT TO ENHANCE BUSINESS PERFORMANCE IN MEA MARKETS

Besides RIL & IT Stocks, UltraTech, NTPC & Kotak Bank lift Nifty as well

UltraTech surges 5% following 23% stake acquisition in India Cements 

India Cements builds on to Wednesday’s gains, rises 13% after UltraTech Deal 

Manappuram moves higher with healthy volumes on +ve brokerage note, up 7% 

Voda Idea continues to see buying on an expectation of tariff hike, up 4% 

ABB, Cummins & Siemens see healthy gains, rise in the range of 3-4% 

PSU Banks slip on talks of farm loan waiver in states, Nifty PSU Bank down 1% 

Ramco Cements falls 7% from highs following UltraTech-India Cements deal 

Fertiliser & agri-related stocks remain under pressure, Chambal Fert top loser 

arket gives best returns of 2024, Nifty up nearly 7% in June series 

40 of 50 Nifty stocks give positive returns in June series 

Shiram Fin, UltraTech, Wipro & Tech Mahindra are top Nifty gainers 

India Cements, Samvardhana Motherson, Chambal Fert, OFSS &…

Closing Bell:

* Sensex: 79243.18(+568.93) 

* Nifty 50: 24044.50 (+175.70) 

* Nifty bank: 52811.30(-59.20) 

Nifty top 5 Gainers:

* UltraTechCement: 11,716.70 (+573.60) 

* LTI mindtree: 5,377.05 (+199.55) 

* Grasim: 2,637.60 (+85.35) 

* NTPC: 377.15 (+12.10) 

* Wipro: 510.80 (+15.60) 

Nifty top 5 losers:

* Shriram finance: 2,951.05 (-38.00 ) 

* Larsen: 3,564.40(-38.55 ) 

* Bajaj Auto: 9,417.45 (-57.20 ) 

* Eicher Motors: 4,713.80 (-25.90 ) 

* Divis Labs: 4,522.35 (-23.00)

Here’s an interesting stock idea: The stock idea that we have for you today is JK Lakshmi Cement. This stock has been moving up very well over the last couple of days after breaking above the 100-Day Moving Average resistance. There is room for the share price to go further up in the coming days.

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

The upmove in the stock is gaining momentum. The share price has risenwell over the last couple of days after breaking the 100-day moving average (DMA) resistance at ₹846. That leaves the outlook bullish for JK Lakshmi Cement. Moving average cross overs on the daily chart also strengthens the bullish case. It indicates that any intermediate dips could be short-lived. Immediate support is at ₹880.