Share Market Highlights 19 July 2023: Markets continue to shine: Sensex closes above 67,000, Nifty sets new record at 19,833

Netweb Technologies India Ltd IPO has been subscribed 87.82 times as of 3:45 pm on July 19.

The QIB portion has been subscribed 221.45 times; NIIS 81.26 times; retail 18.43 times and those reserved for employees 48.67 times.

TTK Prestige Ltd has announced the resumption of production from July 18 at its Roorkee plant after the floods. The estimated loss of movables is a little over ₹40 lakh and insurance claims have been lodged for the same, the company said in a stock exchange filing.

The company’s stock traded at ₹784.90, up by 0.765 on the NSE.

Sensex ends above 67,000-mark for first time; Nifty settles at fresh record closing high of 19,833.15.

Rupee falls 5 paise to close at 82.09 (provisional) against US dollar.

Newgen Software revenues at Rs 252 cr, up 34 per cent Q1 YoY;

Profit after Tax at Rs 30 crore, up 57 per cent Q1 YoY;

Company witnessed the highest quarterly YoY revenue growth rate over last five years.

Refex Renewables & Infrastructure climb nearly two per cent as its arm starts commercial operations of 50 MW Solar PV Power Project.

Yes Bank has allotted 2,08,750 equity shares under YBL ESOS 2020 Scheme (YBL PESOP 2020 Plan) and the Bank has realised ₹27,42,687.50 by exercise of options. Consequent to the allotment, the paid-up share capital of the bank consists of 28,75,58,78,884 equity shares of ₹2 each.

The stock trades at ₹17.45 on the NSE, down by 0.29%.

Netweb Technologies India IPO has been subscribed 80.80 times as of 3:15 pm on July 19. The QIB portion has been subscribed 201.49 times; NIIS 75.96 times; retail 17.67 times and those reserved for employees 45.45 times. The issue closes today.

The stock of Reliance Industries trades at ₹2,843.10 on the NSE, up by 0.80%. The company’s shares will turn ex-date on July 20 for spin-off. Shareholders of Reliance will get one share of Jio Financial. All current derivative contracts on Reliance will expire today and will be reintroduced tomorrow afresh adjusting to the demerger, according to NSE.

The stock of Ramkrishna Forgings Ltd rises by 1.38% on the NSE, trading at ₹495.50.

Medicamen Biotech Ltd (MBL) has filed its first Abbreviated New Drug Application (ANDA) in eCTD format for ‘BORTEZOMIB FOR injection 3.5 MG/VIAL” with the US Food and Drug Administration (USFDA). This accomplishment marks a significant milestone for the company, and is expected to prompt a USFDA audit in the future.

Medicamen Biotech’s shares went up by 5.12 per cent to Rs 755.30 at 01:32 p.m. on BSE.

The stock of Angel One rises by 2.93% on the NSE, trading at ₹1,504.85.

Indian chemical industry is poised for growth & has potential to become $1 trillion market by 2040 with CAGR of 8-10% over 2021-40. In our view, companies with deep chemistry expertise, scale of products and financial discipline will be the winners. However, FY24E will be the year of consolidation with headwinds present as Chinese resurgence, inventory destocking, macro challenges and weak demand. In the chemical space, we are positive on companies, which are resilient and possess moats to weather these headwinds. These companies possess the attributes to scale up their businesses on strengths of : a) presence of significant entry barriers on account of the chemistry proficiency b) building of solid R&D/technical and infrastructure for upcoming growth c) Prudent capital allocation. We initiate with BUY on SRF, Navin Fluorine & Ami Organics and HOLD on Clean Science, Neogen Chemicals.

The West Bengal Livestock Development Corporation Limited (WBLDCL), a government-owned corporation focused on the development and promotion of livestock in West Bengal, has awarded Ice Make Refrigeration Limited a contract worth ₹65.48 Crore

Under this contract, Ice Make will be responsible for the Dairy Project, which includes the design, supply, installation, and commissioning of civil, mechanical, and electrical work for 1.0 LLPD (expected to expand to 1.5 LLPD) on a turnkey basis at Haringhata in West Bengal.

Shares of NSE-listed Ice Make Refrigeration hit upper 5 per cent circuit at ₹465.45

Major gainers:

• NTPC (2.86%)
• IndusInd (2.29%)
• Bajaj Finance (2.04%)
• BPCL (1.66%)
• Ultratech (1.63%)

Major losers:

• Hindalco (-1.08%)
• TCS (-0.77%)
• Bajaj Auto (-0.76%)
• Bharti Airtel (-0.70%)
• Eicher Motors (-0.60%)

Stocks advanced on BSE at 3 pm on July 19 were 1,907 against 1,473 stocks that declined. Total stocks traded were 3,507. The number of stocks that recorded a 52-week high was 193, and those that hit a 52-week low was 33.

The stock of Ganesha Ecosphere trades at ₹1,044.25, down by 0.87% on the NSE. The company had received insurance claim for the fire accident that had occurred in June 2021. In a disclosure to the exchanges, it said as against the company’s claim of ₹30.09 crore, United India Insurance has settled the claim by paying ₹25 crore.

Shares of ideaForge Technology surge by 1.41% on the NSE, trading at ₹1,198.

Santosh Meena, Head of Research, Swastika Investmart Ltd, said:

The current uptrend in the Nifty is undeniably strong, and there is a possibility that it may surpass the 20000 mark by the end of this month. However, it’s worth noting that certain short-term technical and derivative indicators are approaching overbought levels, which suggests that a minor correction or consolidation could occur. In this context, it is important to consider that 19800 is a critical resistance level that needs to be overcome for further upside potential. If the Nifty manages to sustain above this level, it could potentially reach 20000 and even 20200.

Conversely, on the downside, 19500 is a significant support level that is likely to provide strong backing in case of any downward movement.

Following a robust surge in IT stocks from lower levels, there is a possibility that HDFC Bank, ICICI Bank, and LT could take leadership and gain momentum in the near future. These stocks have the potential to catch up and make significant strides.

The current market conditions appear to be more favorable for buy-and-hold traders rather than day traders. Chasing after a rapid upward movement can be challenging, as it may lead to missed opportunities or increased risk. However, it is important to maintain a bullish perspective as we are currently in a long-term structural bull market. In such a market, every dip or consolidation can be seen as a potential buying opportunity. Investors with a long-term outlook should consider utilizing these moments of temporary price declines to accumulate positions in stocks or other assets they believe in. By adopting a buy-and-hold strategy, investors can take advantage of the overall upward trend and potentially benefit from the market’s long-term growth potential.

“With the latest IT quarterly results receiving a thumbs up from investors, Infosys numbers would be closely watched tomorrow as it would further ascertain the growth trajectory for the overall IT sector going forward. We expect Infosys to post low single digit sequential growth in revenue in INR terms and mid-teens growth in profitability. However, operating margins are likely to be under pressure owing to soft top-line growth and the impact of wage hikes. We would closely watch FY24 guidance for any signs of moderation, though the balance seems finely hung against the backdrop of deal cancellations and the recent new deal wins. We would closely watch management commentary for some colour on the evolving scenario around discretionary spends, pace of decision making at the client end, any further signs of deterioration in business verticals performance and outlook on attrition.”

The stock of Senco Gold declines by 1.38% on the NSE, trading at ₹384.90.

The stock of Canara Bank rises by 2.48% on the NSE, trading at ₹336.60.

Fitch Ratings has affirmed India-based Summit Digitel Infrastructure Limited’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB-’. The Outlook is Stable. Fitch has also affirmed Summit’s senior secured debt rating and the rating of its USD500 million senior secured bond at ‘BBB-’.

Summit’s ratings reflect its strong business profile due to a non-cancellable 30-year contract (remaining 28 years) with Indian wireless market leader Reliance Jio Infocomm Ltd, the 66.5% subsidiary of Reliance Industries Ltd (RIL, Foreign-Currency IDR: BBB/Stable; Local-Currency IDR: BBB+/Stable). Summit has strong cash flow visibility, supported by its tower agreement, which has electricity, ground lease and other related cost pass-through to Reliance Jio, significantly reducing the risks of cost escalation.

The stock of Schaeffler India trades at ₹3,134.95, down by 0.72% on the NSE. The company had announced the appointment of Aashish Bhatia as President for the automotive OEM.

Aditya Birla Sun Life Mutual Fund has informed that the trustees of Aditya Birla Sun Life Mutual Fund approved July 20, 2023, as the Record Date for declaration of distribution under the Income Distribution cum Capital Withdrawal (IDCW) option in Aditya Birla Sun Life Pure Value Fund (An open-ended equity scheme, subject to availability of distributable surplus on the Record Date.)

The quantum of IDCW on the face value of Rs 10 per unit will be Rs 2.407 under Regular Plan - IDCW; and Rs 4.318 under Direct Plan - IDCW.

Premier Explosives posted a net profit of ₹8.2127 crore for the quarter ended June 2023 against 1.261 crore in the previous year.

Bikaji Foods International has acquired a 49 per cent stake in the equity shares and 396 compulsory convertible debentures (CCDs) of Bhujialalji Private Limited. Following the acquisition, Bhujialalji Pvt Ltd has officially become an associate of Bikaji Foods International.

Bikaji Foods International’s shares went up by 6.40 per cent to Rs 453.65 at 01:19 p.m. on BSE.

IT major Infosys is set to announce its first-quarter earnings on July 20. So far, its peers TCS, HCL Tech, and Wipro have reported and were seen having a softer outlook.

Ahead of the results, here are ​the five key metrics to watch out for.​

• Revenue growth
• Margin and guidance
• Attrition and hiring
• Deals and conversion of pipeline

• Management commentary

Netweb Technologies India IPO has been subscribed 39.69 times as of 2:15 pm on July 19. The QIB portion has been subscribed 67.97 times; NIIS 60.29 times; retail 15.55 times and those reserved for employees 39.54 times. The issue closes today.

Shares of Bank of Maharashtra Ltd. rose around 4 per cent post Q1 results

The stock of Premier Explosives rises 8.12% on the NSE, trading at ₹874.35.

“We maintain a ‘BUY’ on Mazagon Docks Ltd. with a target price of INR 2,085, with a P/E of 30.7x, using a forecasted EPS of INR 67.75 (FY25E). The robust order book, along with the new contract with the Indian Navy concerning the MRLC of a submarine, will drive growth in the coming years.”

The major gainers are Reliance Infrastructure (10.08%); TV 18 (9.86%); Tejas Network (7.64%); and Titagarh Rail (7.26%)

The major losers are Network 18 (-7.30%); Jubilant Pharmova (-3.64%); ICICI Prudenticial (-2.71%); and Marksans (-2.65%)

The stock of Vodafone Idea rises by 1.31% on the NSE, trading at ₹7.75.

Bank of Maharashtra’s (BoM) net profit soared 95 per cent year-on-year in the first quarter net to Rs 882 crore against Rs 452 crore in the year-ago quarter on the back of robust growth in net interest income and other income, and decline loan loss provisions.

Tata Coffee results for the quarter ended June 30, 2023

Consolidated total income higher at ₹708 crore compared to ₹666 crore for the corresponding quarter of the previous year, an increase of 6 per cent, driven by higher realisations in plantation coffee and instant coffee businesses, both in India and Vietnam.

Standalone total income higher at ₹262 crore compared to₹243 crore for the corresponding quarter of the previous year, representing an increase of 7% on increased revenues from coffee plantations

The stock of the company trades at ₹251.80, up by 1.43% on the NSE.

The Wood Art business of Nippon Paint India has announced the launch of ‘INFINITY Automatic Tinting System’, offering unlimited colours and product solutions for the rapidly growing Interior Furniture Coating market in India.

1. 3 projects with revenue potential of ₹5,600 crore acquired by real estates

2. Standalone EBITDA increased by 15% y-o-y

3. Standalone PAT at ₹24 crore, including impairment of textile assets

HCLTech and Schneider Electric have collaborated to develop sustainability solutions for data centres in APAC

Total Business grew by 24.84 % to ₹ 420,041 crore

Total Deposits up by 24.73 % to ₹ 244,365 crore

CASA stood at level of 50.97% of Total Deposit

Gross Advances increased by 24.98 % to ₹ 175,676 crore

CD Ratio increased to 71.89 %

Gross NPA improved to 2.28 % as on 30.06.2023.

Net NPA improved to 0.24 % as on 30.06.2023.

Net Profit up by 95.19 % to ₹ 882 Crore. Return on Assets (ROA) improved to 1.33 %

Return on Equity (RoE) has improved to 23.73 %

CRAR improved to 18.07% of which Tier I is 14.36%.

Marine Electricals (India) Ltd has received orders worth approximately ₹5.26 crore from Hindustan Shipyard Ltd & BAM Digital Realty. The stock has risen by 2.21%, and is trading at ₹32.50 on the NSE.

The stock of Medicamen Biotech rises by 6.12% on the NSE, trading at ₹763. The company has filed the first ANDA in eCTD format for BORTEZOMIB FOR injection 3.5 MG/VIAL with USFDA. The BORTEZOMIB API is being manufactured by Shivalik Rasayan Ltd.

IDBI Bank has launched a special deposit scheme called the Amrit Mahotsav for tenures of 375 days and 444 days. Here’s more on these fixed deposits.

Europe markets opened well in the green following positive global cues and cooler-than-expected inflation data from the UK, reducing for the time being concerns of more hawkish Central Bank action. Bonds and equities are rallying with key indices across Germany, the UK, France and Italy up 0.5 to 1.20 bps range. Asian markets were flat to up with Japan’s Nikkei 225 the outperformer with gains of 1.25 per cent.

US futures are flat at the moment after a good up day yesterday driven by upbeat earnings from large banks and also buoyed by Microsoft which jumped by 5 percent and reached all time highs after announcing the pricing for its AI subscription service for Office365.

Netweb Technologies India IPO has been subscribed 22.4 times as of 12:50 pm on July 19. The QIB portion has been subscribed 21.61 times; NIIS 44.66 times; retail 13.33 times and those reserved for employees 29.86 times. The issue closes today.

The stock of Bank of Maharashtra rises by 3.17% on the NSE, trading at ₹32.50. The bank reported that its net profit for the quarter ended June 30, 2023, was at ₹8.8 billion against ₹4.5 billion in the previous year.

Shriram Housing Finance and DocOnline have announced a tie-up to offer health and wellness benefits to the customers of SHFL.

Shares of B L Kashyap and Sons trade at ₹45.10 per share, up by 1.23% on the NSE. The company had secured an order worth ₹369 crore.

The stock of Vedanta Ltd rises by 1.10% on the NSE, trading at ₹284.55.

Aditya Birla Sun Life AMC Ltd has allotted 4,935 equity shares of face value of ₹5 pursuant to exercise of Restricted Stock Units under ESOP Scheme 2021. Consequently, the paid-up equity share capital of the company shall increase to ₹1,44,02,10,820 (i.e. 28,80,42,164 equity shares of face value ₹5 each).

The company’s stock trades at ₹381.45, up by 0.01% on the NSE.

The stock of Arihant Capital Markets rises by 19.97% on the NSE, trading at ₹46.55.

The major gainers are NTPC (3.42%); IndusInd (2.02%); Tata Motors (1.86%); Bajaj Finance (1.22%); and Power Grid (1.16%).

The major losers are TCS (-1.10%); LTIMindree (-0.83%); Infosys (-0.75%); and Asian Paints (-0.72%)

Stocks advanced on BSE at 12 noon on July 19 were 1,820 against 1,415 stocks that declined. Total stocks traded were 3,383. The number of stocks that recorded a 52-week high was 157, and those that hit a 52-week low was 29.

The stock of Sangam India rises by 7.41% on the NSE, trading at ₹321.75.

Citi sees gold prices scaling fresh records of $2,150/oz at some point this yr. It forecasts gold prices at average of $1,957/oz this year and average of $2,040/oz in 2024

Sensex and Nifty continued their record-breaking rally on Tuesday, reaching new all-time high levels amid fresh foreign fund inflows. A positive trend in the US markets on Monday also contributed to the domestic benchmark indices optimism. BSE Sensex gained 205 pts or 0.3% to 66,795 pts, while NSE Nifty gained 37 pts or 0.19% to end at 19,749.25.

TCS has expanded its long-standing relationship with GE HealthCare Technologies Inc., a medical technology, pharmaceutical diagnostics, and digital solutions innovator, to help transform the latter’s IT operating model. The partnership will focus on digitally transforming GE HealthCare’s global IT function by launching a new operating model for managing its application estate and driving innovation. TCS will manage the development, maintenance, rationalization, and standardization of its enterprise IT applications.

However, the stock of TCS declined by 1.23% on the NSE, trading at ₹3,453.85.

The major gainers are Kei Industries (11.39%); TV18 Broadcast (8.59%); SJVN (8.38%); and Titagarh Rail Systems (8.88%)

The major losers are ICICI Prudential (-3.27%); NetworK 18 (-2.80%); Marksans (-2.21%); and MRPL (-2.18%)

GAIL has entered into a strategic partnership with LanzaTech Global Inc. to explore bio recycling carbon waste into Fuels and Chemicals.

The stock of GAIL is at ₹109.85, up by 0.87% on the NSE.

The stock of CIE Automotive India rises by 2.61% trading at ₹544.20. Meanwhile, the stock of Mahindra & Mahindra declines by 0.17% on the NSE, trading at ₹1,532.05. CIE Automotive India had received a request from Mahindra and Mahindra Limited (Promoter) and Prudential Management and Services Private Limited (Promoter Group and PAC) for reclassification to Public Category.

On NCDEX, the spices complex is mixed with jeera slipping. Dhaniya and turmeric continue to gain. Dhaniya September futures gained less than 0.5 per cent to rule at ₹7,428 a quintal. Jeera September contracts dropped by ₹500 to ₹60,890 a quintal. Turmeric contracts maturing in December gained over 5 per cent to surge to ₹13,580 a quintal.

The stock of CIE Automotive India has risen by 2.61% to trade at ₹544.20. Meanwhile, the Mahindra & Mahindra stock has declined by 0.17% on the NSE, to trade at ₹1,532.05. CIE Automotive India had received a request from Mahindra and Mahindra (Promoter) and Prudential Management and Services Pvt Ltd (Promoter Group and PAC) for reclassification to the public category.

On NCDEX, the spices complex is mixed, with jeera slipping. Dhaniya and turmeric continue to gain. Dhaniya September futures gained less than 0.5 per cent to rule at ₹7,428 a quintal. Jeera September contracts dropped by ₹500 to ₹60,890 a quintal. Turmeric contracts maturing in December gained over 5 per cent to surge to ₹13,580 a quintal.

Netweb Technologies India Ltd IPO has been subscribed 11.24 times as of 10:30 am on July 19. The QIB portion has been subscribed 2.69 times; NIIS 24.12 times; retail 10.30 times and those reserved for employees 20.43 times. The issue closes today.

Gold is up in volatile Asian trade at $1,974.41 an ounce, its best in two months, as the dollar continues to trade weak. Silver is ruling above $25/ounce mark at $25.029.

On MCX, gold August futures are ruling lower a tad at ₹59,728 per 10 gm. Silver September futures are up marginally at ₹76,135 a kg.

Nifty 50 and Sensex continue to rally. Both the indices are up about 0.4 per cent each today. Sensex is trading at 67,063 and Nifty at 19,827.

Nifty has resistance at current levels. A strong follow-through rise from here is needed to move further up to 19,900-20,000 levels. A pull-back from here and a fall below 19,800 can take it down to 19,750 or 19,700 during the day. It is a wait-and-watch situation.

Read more.

Crude oil futures traded lower on Wednesday morning despite China’s plans to support economic growth in that country.

At 9.54 am on Wednesday, September Brent oil futures were at $79.39, down by 0.30 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $75.33, down by 0.44 per cent.

July crude oil futures were trading at ₹6194 on the Multi Commodity Exchange (MCX) during initial trading, against the previous close of ₹6221, down by 0.43 per cent, and August futures were trading at ₹6197, as against the previous close of ₹6224, down by 0.43 per cent.

Indian shares advanced on Wednesday, aided by broad sectoral gains, while investors awaited the June-quarter earnings of top firms, due later this week.

The Nifty 50 index rose 0.38% to 19,824.25, while the S&P BSE Sensex gained 0.40% to 67,065.50, as of 9:53 a.m. IST. Both the benchmarks hit fresh all-time highs for the fourth session in a row.

Twelve of the 13 major sectoral indexes advanced, with media stocks rising over 1.5%, after TV18 Broadcast and Network18 Media & Investments jumped over 10% and 5%, respectively, after their results.

The stock of Saregama India Ltd rises by 4.25% on the NSE, trading at ₹466.80.

The rupee depreciated 8 paise to 82.12 against the US dollar in early trade on Wednesday tracking the strength of the American currency in the overseas markets.

Traders said domestic equity benchmarks scaling all-time high levels and sustained foreign fund inflows boosted investor sentiments and restricted the depreciating bias.

At the interbank foreign exchange, the domestic unit opened at 82.08, then touched 82.12, registering a decline of 8 paise over its last close.

The stock of SBI trades at ₹596.65, up by 0.73% on the NSE. The State Bank of India will set up a new trustee company as its wholly-owned subsidiary for managing the Corporate Debt Market Development Fund (CDMDF).

Route - Tender Route

• Buyback Price: 900/-
• Current Market Price: 693/-
• Buyback Size (in ₹) : 28.80 crore
• Buyback Size (in Shares): 0.032 crore shares (representing 1.10% of O/S shares)
• Retail Quota: 0.005 crore Shares

Entitlement

• General Category - 2 out of every 91 Shares held on the Record Date.
• Retail Category - 2 out of every 91 Shares held on the Record Date.

Record Date – July 13, 2023

Tender Period

• Start Date - July 19, 2023 (Today)
• End Date - July 25, 2023
• Obligation Date - July 31, 2023
• Settlement Date - August 1, 2023

GAIL (India) stock trades at ₹110.15, up by 1.15% on the NSE. It had entered into a partnership with US-based LanzaTech Global to explore setting up a pilot project for CO2 capture and conversion into useful materials.

Shares of IndusInd Bankclimbed nearly 4 per cent on Wednesday morning after the company reported a 30 per cent jump in its consolidated net profit in the April-June quarter.

NTPC shares are up 4.32% on NSE at 9.55 am, trading at ₹195.45.

The newest asset management company Bajaj Finserv is rolling out a money market fund and the NFO is open till July 20.

Here’s what you must know before investing in money market funds.

Bikaji Foods Insternational has acquired a stake of 49% in equity shares and 396 Compulsorily Convertible Debentures (CCDs) in Bhujialalji Private Limited on July 19, 2023. Subsequent to the acquisition, Bhujialalji Private Limited has become an associate of the company.

Shares of Bikaji Foods rise by 3.79% on the NSE, trading at ₹442.45.

GAIL has entered into a partnership with US-based LanzaTech Global to explore setting up a pilot project for CO2 capture and conversion into useful materials.

The partnership will explore innovative technology solutions that advance GAIL’s Net Zero 2040 goals and have the potential to support wider decarbonisation applications globally, the country’s largest gas utility said.

Major gainers

• NTPC (+4.00%)
• IndusInd Bank (+2.82%)
• Infosys (+1.32%)
• Power Grid (+1.08%)

Major losers

• Hero Moto Corp (-0.77%)
• Maruti Suzuki India (-0.68%)
• HDFC Life (-0.67%)
• Hindalco (-0.61%)

“We are very close to seal two major strategic partnerships that would fetch export orders worth ₹100 crore each. The strategic partnership with the Chinese subsidiary of a reputed Japanese company will be for joint branding and distribution in the Chinese Market,” the company’s Managing Director Shaji Baby John said.

The partnership with the US company is for supplying nearly 100 containers of IQF shrimp, the company announced in its stock exchange filing. To cater to the specific order from the US, Kings Infra plans to acquire a marine product processing plant in Nellore soon.

CIE Automotive profit up 60 per cent at ₹302 crore (₹189 crore) and revenue up 5 per cent at ₹2,320 crore y-o-y (₹2,216 crore)

CG Power and Industrial Solutions Ltd has announced the appointment of Ajay Jain as Vice President of Transformer Business in the category of senior management of the company with effect from July 18, 2023.

The company’s stock is valued at ₹420.95, up by 3.45% on the NSE.

Crude oil futures traded lower on Wednesday morning despite China’s plans to support economic growth in that country.

At 9.07 am on Wednesday, September Brent oil futures were at $79.46, down by 0.21 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $75.41, down by 0.33 per cent.

July crude oil futures were trading at ₹6198 on Multi Commodity Exchange (MCX) in the initial trading hour of Wednesday morning against the previous close of ₹6221, down by 0.37 per cent; and August futures were trading at ₹6207 as against the previous close of ₹6224, down by 0.27 per cent.

The situation in Manipur and a bill to replace the Delhi Ordinance will be among the issues that will dominate the Monsoon Session of Parliament beginning on Thursday.

Meanwhile, the government has listed 21 bills to be introduced during the session, besides seven bills for consideration and passage. However, the most anticipated bill on the Uniform Civil Code is unlikely to be introduced during the session.

Ex-Dividend 20 July 2023 (Tomorrow)

Last date for Cum-Dividend Today

1. Acknit Industries Ltd.

• Dividend Per Share ₹1.5
• Previous day Closing Price – ₹239.9

2. John Cockerill India Ltd

• Dividend Per Share ₹5
• Previous day Closing Price – ₹2,998.3

3. Duncan Engineering Ltd

• Dividend Per Share ₹1
• Previous day Closing Price – ₹467.4

4. Fortis Healthcare Ltd.

• Dividend Per Share ₹1
• Previous day Closing Price – ₹326.3

5. GPT Infraprojects Ltd

• Dividend Per Share ₹1.5
• Previous day Closing Price – ₹73.3

6. Graphite India Ltd.

• Dividend Per Share ₹8.5
• Previous day Closing Price – ₹411.35

7. HCL Technologies Ltd.

• Dividend Per Share ₹10
• Previous day Closing Price – ₹1,167.3

8. Kanco Tea & Industries Ltd

• Dividend Per Share ₹1
• Previous day Closing Price – ₹74.55

9. MRF Ltd.

• Dividend Per Share ₹169
• Previous day Closing Price – ₹10,2195.3

10. Natural Capsules Ltd.

• Dividend Per Share ₹1
• Previous day Closing Price – ₹362.6

11. Novartis India Ltd.

• Dividend Per Share ₹10
• Special Dividend Per Share ₹37.5
• Previous day Closing Price – ₹891.3

12. Oriental Carbon & Chemicals Ltd.

• Dividend Per Share ₹7
• Previous day Closing Price – ₹785.05

13. Rossell India Ltd.

• Dividend Per Share ₹0.4
• Previous day Closing Price – ₹424.3

14. Tata Consultancy Services Ltd.

• Dividend Per Share ₹9
• Previous day Closing Price – ₹3,499.8

15. Weizmann Ltd.

• Dividend Per Share ₹0.5
• Previous day Closing Price – ₹95.95

The NSE SME IPO was subscribed over 190 times. Investors can check allotment status here.

The IPO was subscribed over 110 times. To check allotment status, click here.

Federal Bank’s board on July 21 will consider issuance of 7.2 crore shares to IFC at ₹131.91/share via preference issue and raise funds through issue of debt instruments.

Ganesha Ecosphere has informed the exchanges that it has received insurance claim for the fire accident that had occurred in June 2021. In a disclosure to the exchanges, it said as against the company’s claim of ₹30.09 crore, United India Insurance has settled the claim by paying ₹25 crore.

Captain Pipes has recently commissioned its new CPVC machine at Rajkot plant. This will increase its installed capacity by 1,100 tonne per annum and help expand the product range in CPVC pipes up to 100 mm (4 inches) diameter as per ASTM standards.

The company has also completed the commissioning of SWR fitting moulds conforming to BIS specifications in FY23. Together these two capacity additions will help the company cater to demand from fast growing plumbing segment and are expected to positively impact sales volume by 15-20 per cent.

Lemon Tree Hotels announced its latest signing - Lemon Tree Hotel, Gomti Nagar, Lucknow.

The property is expected to be operational by Q3 FY2026 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.

The property will feature 72 well-appointed rooms, a banquet, meeting rooms, a restaurant, a bar, a fitness center, and other public areas.

▪ Societe Generale bought 4,200,000 shares

▪ BNP Paribas bought 2,496,920 shares

▪ Bonanza Com. bought 840,403 shares

▪ Kotak Mah. MF bought 920,245 shares

▪ Nippon MF bought 14,598,54 shares

▪ Pinebridge fund bought 1,000,000 shares

Ex-date Dividend

• Blue Dart Express
• Mahindra Life space Developers
• MAS Financial Services
• Praj Industries

Ex-date AGM

• Blue Dart Express
• Mahindra Life space Developers
• MAS Financial Services
• Praj Industries
• Avadh Sugar & Energy

Move into short-term ASM framework

• Bliss GVS Pharma

Move out of short-term ASM framework

• Zee Media Corporation
• Reliance Home Finance

1️⃣ Delta Corp

2️⃣Indiabulls Housing Finance Ltd

3️⃣ Manappuram Finance Ltd

4️⃣ RBL Bank

Block Deals

• Rallis India

Rekha Jhunjhunwala sold 97 lakh shares (5%) and Tata Chemicals bought 97 lakh shares (5%) at ₹215.05 apiece.

Bulk Deals

• Eris Lifesciences

Rakesh Shah sold nine lakh shares (0.7%) at ₹728.5 apiece, and HDFC Mutual Fund bought 8.30 lakh shares (0.6%) at ₹728.49.

• Rallis India

Rekha Jhunjhunwala sold 10 lakh shares (0.5%) at ₹220.35 apiece, and Ratnabali Investment bought 10 lakh shares (0.5%) at ₹223.29 apiece.

• Amara Raja Batteries

Clarios ARBL Holding sold 2.4 crore shares (14%) at ₹652.97 apiece, while Societe Generale bought 42 lakh shares (2.5%), BNP Paribas Arbitrage bought 25 lakh shares (1.5%), Tata AIA Life Insurance bought 20 lakh shares (1.2%), Nippon India Mutual Fund bought 14.6 lakh shares (0.8%) at ₹652 apiece, and Pinebridge India Eqfund bought 10 lakh shares (0.5%) at ₹651.98 apiece.

• Sportking India

Anil Kumar Goel bought 1.3 lakh shares (1%) at ₹842 apiece.

• Rama Steel

Jainam Share Consultancy sold 53.9 lakh shares (1%) at ₹38.15, and Societe Generale bought 60 lakh shares (1.2%) at ₹38.17 apiece.

Pledge Share Details

Kauntum Papers: Promoter Kapedome Enterprises revoked a pledge of 24.27 lakh shares on July 18.

Insider Trades

Sandur Manganese and Iron Ores: Promoter S.Y. Ghorpade sold 1,900 shares on July 14.

• AAVAS Financiers
• Adani Green Energy
• Adani Power
• Adani Transmission
• Bliss GVS Pharma
• Butterfly Gandhimathi Appliances
• Can Fin Homes Pix Transmissions
• Sona BLW Precision Forgings
• Wheels India

Shares are set to open little changed on Wednesday, amid improved global cues, with investors awaiting June-quarter earnings of top firms later this week.

GIFT Nifty on the NSE International Exchange was down 0.01% at 19,801 as of 8:02 a.m. IST.

Both the Nifty 50 and the Sensex hit fresh highs for the third session in a row on Tuesday, powered by information technology (IT) stocks on hopes that the U.S. Federal Reserve is nearing the end of its rate hiking cycle after recent data showed moderation in inflation.

1. IndusInd Bank Q1FY24 (Consolidated, YoY)

• Net Profit: ₹2,124.5 crore vs. ₹1,631 crore. (Bloomberg estimate: ₹2,056 crore.)
• NII: ₹4,876 crore vs. ₹4,125.26 crore.
• GNPA: 1.94% vs. 1.98% (QoQ)
• NNPA: 0.58% vs. 0.59% (QoQ)

2. L&T Technology Q1FY24 (Consolidated, QoQ)

• Revenues are down 2.1% at ₹2,301.4 crore vs. ₹2,370.6 crore (Bloomberg Estimate: ₹2,327.9 crore)
• Net profit is down 8.5% at ₹311.1 crore vs. ₹3,40.1 crore (a Bloomberg Estimate of ₹309.8 crore).
• EBIT fell 6.8% to ₹394.6 crore vs. ₹423.4 crore (Bloomberg Estimate: ₹394.1 crore)
• EBIT Margins at 17.14% vs. 17.86%
• ICICI Lombard General Insurance Q1FY2023 (YoY)
• Revenue is up 14% at ₹4,538 crore vs. ₹3,978 crore (Bloomberg Estimate: ₹2,464 crore).
• Net profit is up 12% to ₹390 crore vs. ₹349 crore (Bloomberg Estimate: Rs 463 crore Profit).
• EBITDA at ₹331 crore vs. ₹317 crore, up 5% (Bloomberg Estimate: ₹302 crore)
• Margins at 7.3% vs. 8% (Bloomberg Estimate: 12.3%)

3. CIE Automotive India

• Revenue was up 5% to ₹2,320.34 crore vs. ₹2,215.96 crore. (Bloomberg Estimate: ₹2,396.2 crore)
• Net Profit gained 60% to ₹301.68 crore vs. ₹188.85 crore. (Bloomberg Estimate: ₹226.6 crore)
• EBITDA is up 21% to ₹370.43 crore vs. ₹305.76 crore.
• EBITDA margins stood at 16% vs. 13.8%.

4. Himadri Specialty Chemical

• Total revenue fell 9% to ₹950.91 crore vs. ₹1,046.64 crore.
• Net profit more than doubled to ₹86.1 crore vs. ₹38.56 crore.
• EBITDA surged 87% to ₹134.01 crore vs. ₹71.6 crore.
• EBITDA margins rose to 14.1% vs. 6.8%.

5. Network18 Media and Investments

• Total revenue from operations jumped to ₹3,238.94 crore vs. ₹1,339.89 crore.
• Net Profit declined 26% to ₹29.17 crore vs. ₹39.46 crore.
• EBITDA loss stood at ₹84.42 crore vs. EBITDA of ₹46.20 crore.
• EBITDA loss margin stood at -2.6% an Ebitda margin of 3.4%.

6. TV18 Broadcast

• Total revenue from operations jumped to ₹3,176.03 crore vs. ₹1,265.05 crore.
• Net Profit advanced 52% to ₹91.20 crore vs. ₹60.02 crore.
• EBITDA loss stood at ₹54.40 crore vs. EBITDA of ₹57.75 crore.
• EBITDA loss margin stood at -1.7% vs. an EBITDA margin of 4.6%.

Alok Industries, Can Fin Homes, Century Textiles & Industries, Finolex Industries, Goodluck India, Hatsun Agro Product, Jubilant Pharmova, L&T Finance Holdings, Bank of Maharashtra, Mastek, Newgen Software Technologies, Tata Coffee, and Tata Communications.

The company launched its initial public offering on July 17. The supercomputer systems manufacturer plans to raise ₹631 crore via a fresh issue and an offer for sale. It was subscribed 2.33 times on day 1 and 9.14 times on day 2. Institutional investors subscribed 2.66 times. The portion of non-institutional investors was subscribed 18.09 times, and retail investors were subscribed 8.77 times. The portion reserved for employees was subscribed to 16.58 times.

1. Adani Transmission Q1 Update

• Maintained system availability at over 99.8% in Q1
• Added 550 km to the operational network during the quarter
• The total network stands at 19,778 km
• Received an LOA for three smart metering projects in Andhra Pradesh
• The total smart metre contract value in Q1 stood at ₹3,700 crore
• Near-term transmission and the smart metering pipeline remain very robust

2. Vedanta

The company’s Semiconductors and Display’s Global Managing Director, Akarsh K. Hebbar, said that substantial progress has been made to tie up technology and equity partners in semiconductors. Vedanta will make an announcement soon.

3. Bank of India

The lender has appointed Yusuf H. Roopwalla as Chief Technology Officer for a period of three years. Roopwalla was earlier associated with Standard Chartered Bank.

4. L&T Technology Services

The company won a $50 million contract from a global technology company to enable new opportunities for digital media platforms. This agreement has a term of five years.

5. State Bank of India

The lender has agreed to set up a new trustee company as a wholly-owned subsidiary of the bank for managing corporate debt market development funds, for which SBI Funds Management Ltd. is identified as the Investment Manager and Sponsor of the Fund.

6. Ramkrishna Forgings

The company has started commercial production of 13,700 TPA of R A Shaft-Press Line and 10,100 TPA of 5” Upsetter at its plant in Kharswan from July 18. This will enhance the output of the company by 23,800 tonnes per year, which will result in a total production capacity of 2,10,900 tonnes per year.

7. 63 Moons Technologies

The company’s unit, Ticker Ltd., has incorporated its wholly-owned subsidiary, Ticker Data Ltd. Ticker will subscribe to the share capital of ₹10 lakh of Ticker Data.

8. Hero MotoCorp

The automaker introduced the Xtreme 200S 4-Valve, to be priced at ₹1,41,250 ex-showroom Delhi.

9. DB Realty

The company’s subsidiaries have inked share purchase agreements to acquire a stake in Siddhivinayak Realties. The company’s unit Horizontal Ventures will buy a 9.32% stake for ₹62.09 crore, N.A. Estates will purchase a 10.45% stake for ₹69.59 crore, and Vanita Infrastructure will acquire a 10.22% stake for ₹68.07 crore.

10. Oil and Natural Gas Corporation

The company bought an additional 0.0035% stake in subsidiary Petronet MHB Ltd. for ₹2.09 lakh, increasing its overall stake to 49.999%.

11. HealthCare Global Enterprises

The company has signed a partnership transfer agreement to acquire the entire stake of Ajay Mehta, partner of HCG NCHRI LLP, in accordance with the acquisition of the entire equity share capital of Nagpur Cancer Hospital and Research Institute.

12. CIE Automotive

Shriprakash Shukla resigned as director of the company after M&M withdrew his nomination since the company ceased to be an associate of M&M.

13. Hinduja Global Solutions

HGS Colombia will ramp up to more than 300 employees by the end of 2023 from the current number of more than 150. Hinduja has inaugurated its multilingual customer experience (CX) hub in Barranquilla, Colombia.

14. Himadri Speciality Chemicals

The company agreed to acquire 100% equity shares of Combe Projects for about ₹3 lakh.

15. B.L. Kashyap and Sons

The company won a new order of Rs 369 crore from DLF Home Developers for civil structure and waterproofing works for DLF The Arbour, Sector 63 in Gurugram. The contract includes a free supply of steel. The company’s order book stands at ₹3,086 crore.

Reliance Industries is set to turn ex-date on July 20 for the demerger of its financial services business into Jio Financial Services Limited. Investors must purchase Reliance Industries shares today to be eligible for the spun-off entity.

In a boost to several micro-cap companies, stock exchanges, in consultation with markets regulator SEBI on Tuesday decided to lift trading curbs on stocks that come under Enhanced Surveillance Measures (ESM).

Earlier, the stocks under ESM Stage-II were allowed to trade only once a week. Now, this has been revised to all trading days, a circular from the exchanges said.

The ₹631-crore IPO of Netweb Technologies, which opened for public subscription on Monday, will close today. As HNIs, retail investors and employees show strong interest, the issue has so far subscribed 9.14 times. The issue received bids of 8.09 crore shares against the offered 88.58 lakh shares, according to the data available on the stock exchanges. Overall, the issue was subscribed 9.11 times on the first day of bidding.

Reliance, Lemon tree, SBI, GAIL, Captain Pipes, Ganesha Ecosphere, CIE Automotive, Alok Textiles, Bank of Maharashtra, CanFin Homes, Century Textiles, Finolex Industries, Indian Bank, Jubilant Pharma, L&T Finance Shemaroo, Tata Coffee, Tata Communications, BL Kashyap

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 of Saregama India has gained momentum. The stock surged over 6 per cent on Tuesday breaking above the key resistance level of ₹440. It indicates the beginning of a new leg of the uptrend that has been in place since mid-June. The level of ₹440 will now act as a good resistance-turned-support and will limit the downside. Below this, ₹430-425 is the next important support zone.

Stocks in Japan, South Korea, and Australia gained, while Hong Kong’s stock contracts declined. US stocks advanced due to strong bank earnings, driving the Dow towards its longest winning streak in over two years. Dow closes at highest level since April 2022. - Agencies