KEY HIGHLIGHTS
FPIs Remain Net Buyers
Overseas investors continued their net buying of Indian equites on Monday.
Foreign portfolio investors mopped up stocks worth Rs 1,995.92 crore, according to data from the National Stock Exchange.
Domestic institutional investors turned net sellers and offloaded equities worth Rs 337.80 crore, the NSE data showed.
Foreign institutions net bought Rs 47,148 crore worth of equities in June. They have been net buyers of Rs 88,257 crore worth of Indian equities so far in 2023, according to the National Securities Depository Ltd.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.12% on Monday. It closed at 7.12% on Friday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 8 paise to close at 81.96 against the U.S dollar on Monday.
The local currency closed at 82.04 on Friday.
Source: Bloomberg
Sensex, Nifty End At A Fresh Record Close: Closing Bell
India's benchmark stock indices held on to steady gains and ended at fresh life time highs on Monday. The headline indices continued their record moves from the previous week after logging the best week in over 11 months. Ahead of closing on Monday, the Sensex jumped 0.90% to a record high of 65,300.35 points. Nifty 50, on the other hand, rose 0.81% to 19,345.10 points. Furthermore, Nifty Bank breached 45,000-mark to hit an intraday high of 45,353.20 points.
While, energy and PSU banking sector advanced pharma and I.T. were under pressure. RIL Ltd., ITC Ltd. and HDFC Ltd. led the positive change on the indices, whereas TCS Ltd., Larsen & Toubro Ltd., and Infosys Ltd.
Banks and miners led gains in Europe, while Japan’s Topix index continued to reach highs last seen in the mid-1990s amid improved confidence among big manufacturers. Pakistan’s index surged the most in over three years after the nation received an initial $3 billion loan deal from the International Monetary Fund, easing default fears.
Stocks kicked off the new quarter on a bullish note, with electric-car makers Tesla Inc. and BYD Co. climbing on record quarterly sales. Tesla gained 6.3% in premarket trading, while BYD climbed in Hong Kong trading, leading shares of battery suppliers also higher. Contracts on the Nasdaq 100 climbed, after the tech index notched its best-ever first half of a year.
The S&P BSE Sensex Index closed 487 points or 0.75% at 65,205.05 while the NSE Nifty 50 Index was 134 points or 0.70% higher at 19,322.55.
Reliance Industries Ltd., ITC Ltd., HDFC Ltd., State Bank of India, and Bajaj Finance Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, TCS Ltd., Larsen & Toubro Ltd., Infosys Ltd., Axis Bank Ltd., and Sun Pharmaceutical Industries Ltd., and were negatively adding to the change.
The broader market indices ended higher; the S&P BSE MidCap Index was up 0.30%, whereas S&P BSE SmallCap Index was 0.56% higher.
Ten out of the 19 sectors compiled by BSE advanced with S&P BSE Oil & Gas and S&P BSE Energy gaining the most. Nine sectors declined.
The market breadth was skewed in the favour of the buyers. About 1,991 stocks rose, 1,558 declined, while 168 remained unchanged on the BSE.
Nomura Maintains 'Buy' On Fortis Healthcare Despite Lower Ebitda Margins Against Peers
Fortis Healthcare Ltd. is expected to continue its revenue growth owing to sustained improvement in its Ebitda margin, according to a Nomura note.
While Fortis' Ebitda margins lag behind those of its peers, the company's hospitals business is on the mend due to accelerated revenue growth post the IHH takeover in 2018, the note said.
Nomura said that Fortis Healthcare's Ebitda margin improvement will be driven by three factors in the near-to-medium term. These are Fortis' expected divestment and closure of loss-making facilities, the addition of almost 1,400 beds through brownfield expansion, and the rising contribution of oncology in the short- to medium-term.
The research firm maintains a 'buy' on the stock with a price target of Rs 368 per share, raising it from the previous target price of Rs 325 apiece.
Shares of Fortis Healthcare were trading 0.22% lower at Rs 314.35 apiece on Monday, compared with a 0.65% growth in the benchmark Nifty 50.
All 12 analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month price target implies an upside of 12.1%.
Stocks At 52-Week High Intraday
What's Next For HDFC Bank After The Merger?
June Auto Sales Number Trickle In, What To Watch For?
Stocks In Focus: HDFC, IndusInd Bank, Infosys, UltraTech And More
Talking Point: Sensex, Nifty Hit All-Time Highs, What Next For Markets?
Hemisphere Properties Announces Stakeholders' Meet On July 5
Hemisphere Properties will hold a stakeholders meet in Pune on July 5.
Company will discuss the development opportunities for their Pune land parcel.
Source: Exchange filing
European Markets Open High
SpiceJet Repays Rs 100 Crore Loan To City Union Bank
SpiceJet has settled the of payment of Rs 100 crore to City Union Bank.
The last tranche of Rs 25 crore was paid on 30 June, closing the loan account which was taken in 2012.
The repayment releases all securities that had been pledged with the bank.
Source: Press release
Zee Entertainment Shares Rise After Settling Dues With IndusInd Bank
Shares of Zee Entertainment Enterprises Ltd. rose over 4% after it made final payments to IndusInd Bank Ltd. and settled the insolvency case initiated by the bank against the company.
A bench headed by Chairperson Justice Ashok Bhushan told the lawyers that in the light of the settlement, the corporate insolvency resolution process could be closed, as per Cogencis.
The Mumbai bench of the National Company Law Tribunal had admitted IndusInd Bank's insolvency petition against the entertainment conglomerate in February, and appointed Sanjeev Kumar Jalan as the resolution professional.
Shares of Zee Entertainment Enterprises Ltd. rose 1.95% to Rs 180.8 apiece as of 12:56 a.m., compared to a 0.64% advance in the NSE Nifty 50. The stock gained as much as 4.31% intraday, the most in over a week since June 21, 2023.
Total traded volume stood at 1.5 times its 30-day average. The relative strength index was at 43.6.
Out of the 24 analysts tracking the company, two maintain a 'buy' rating, one recommends a 'hold' and one suggests to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 35.5%
Source: Bloomberg, Exchange filing
IIFL Finance Raises $175 Million Via External Commercial Borrowing
IIFL Finance has raised $175 million through external commercial borrowing in June, 2023.
The company has received $75 million from HSBC, $50 million from Sydney's Union Bank, and $50 million from Bank of Baroda's IFSC unit.
Source: Exchange filing
Sensex, Nifty Gain After Hitting Fresh Record As RIL, HDFC Twins Lead: Midday Market Update
India's benchmark stock indices held steady gains after hitting fresh record highs intraday on Monday. Sensex jumped 0.81% to a record high of 65,240.57 points. Nifty 50, on the other hand, rose 0.77% to 19,336.10 points. Furthermore, Nifty Bank breached 45,000-mark to hit an intraday high of 45,353.20 points.
While, energy and PSU banking sector advanced I.T. and pharma were under pressure. RIL Ltd., and HDFC twins led the positive change on the indices, whereas Infosys Ltd., and TCS Ltd. dragged.
A rally in global equities continued on Monday in Asia on positive momentum from Wall Street and signs of moderating U.S. inflation.
Equities in Shanghai rose more than 1% while Hong Kong-listed technology companies jumped around 3%. Shares of Asian electric-vehicle makers and related suppliers also climbed, benefiting from Tesla Inc. and BYD Co. setting sales records in the second quarter. The gains in Chinese stocks contrast with the 6% drop in MSCI Inc.’s China Index in the first half.
Japan’s Topix index was on course for another gain that has the index repeatedly reaching highs last seen in mid 1990 amid improved confidence among big manufacturers. Euro Stoxx 50 contracts rose, while futures the S&P 500 were flat and those for the Nasdaq 100 edged up.
As of 12:29 p.m., the S&P BSE Sensex Index was up 441 points or 0.68% at 65,159.47 while the NSE Nifty 50 Index was 116 points or 0.60% higher at 19,304.55.
Reliance Industries Ltd., HDFC Ltd., HDFC Bank Ltd., ITC Ltd., and ICICI Bank Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, TCS Ltd., Infosys Ltd., Larsen & Toubro Ltd., Axis Bank Ltd., and Hindustan Unilever Ltd., and were negatively adding to the change.
The broader market indices were trading higher; the S&P BSE MidCap Index was up 0.30%, whereas S&P BSE SmallCap Index was 0.59% higher.
Thirteen out of the 19 sectors compiled by BSE advanced with S&P BSE Energy gaining the most. Six sectors declined.
The market breadth was skewed in the favour of the buyers. About 1,991 stocks rose, 1,558 declined, while 168 remained unchanged on the BSE.
BSE Jumps Over 7%, Most In Nine Months As Board To Consider Buyback Proposal On July 6
Shares of BSE Ltd. jumped the most in over nine months after it informed the exchanges about the board meeting to be held on July 6, 2023 to consider a share buyback proposal.
The scrip rose 5.47% to Rs 641.85 apiece as of 11:56 a.m., compared to a 0.54% advance in the NSE Nifty 50. The stock gained as much as 7.08% intraday to Rs 651.65 apiece, the most in over nine months since Sept. 21, 2022.
Total traded volume stood at 5.5 times its 30-day average. The relative strength index was at 77, implying that the stock maybe overbought.
Out of the six analysts tracking the company, two maintain a 'buy' rating and four recommend a 'hold,' as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 2.7%.
Source: Bloomberg, Exchange filing
HPCL Shares Jump Over 6%
Shares of HPCL Ltd. rose 6.85% to Rs 292.6 apiece as of 11:34 a.m., compared to a 0.45% advance in the NSE Nifty 50. The stock gained as much as 7.16% intraday, the most in over 15 weeks since March 16, 2023.
Total traded volume stood at 6.6 times its 30-day average. The relative strength index was at 71, implying that the stock maybe overbought.
Out of the 34 analysts tracking the company, 23 maintain a 'buy' rating, five recommend a 'hold' and six suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential downside of 0.1%
Source: Bloomberg
Adani Ports Records 11.5% YoY Cargo Volume Growth In June 2023
Adani Ports & SEZ handled over 101 MMT cargo at its ports from April to June, recording lifetime high quarterly cargo volumes.
Container cargo volumes rose 19%, liquids and gas rose 8%, dry bulk volumes gained 7% on year-on-year basis.
On year-to-date basis, it clocked about 1.31 lakh TEU of rail volumes, a growth of 18% year-on-year.
Company handled almost 32.8 MMT of cargo in June 2023, including almost 1 MMT at its Haifa Port.
Source: Exchange filing
Sensex, Nifty, Nifty Bank At New Record Highs
As of 11:11 a.m., Sensex jumped 0.81% to a record high of 65,240.57 points. Nifty 50, on the other hand, rose 0.77% to 19,336.10 points.
Nifty Bank breached 45,000-mark to hit an intraday high of 45,353.20 points.
Source: Bloomberg
Kansai Nerolac Paints Shares Gain After Board Approves Sale Of Land Parcel
Shares of Kansai Nerolac Paints Ltd. rose after its board approved the proposal for the sale of its land at Kavesar, Thane to Shoden Developers, a group company of Hiranandani.
The land parcel measures 96,180 square meters, with an additional area of 910 square meters, aggregating to a total of 97,090 square meters. The company has raised Rs 671 crore through the sale of the said land.
Shares of Kansai Nerolac Paints rose 4.22% intraday before paring gains to trade 3.76% higher as of 10.32 p.m. This compares to a 0.64% advance in the NSE Nifty 50.
Total traded volume so far in the day stood at 3.96 times its 30-day average. The relative strength index was at 65.93.
Of the 20 analysts tracking the company, 10 maintain a 'buy' rating, 3 recommend a ‘hold’, and 4 indicate a ‘sell', according to Bloomberg data. However, the average 12-month consensus price target implies an downside of 0.8%.
M&M June Wholesale Sales (YoY):
Passenger vehicle sales rise 21% to 32,588 units.
Tractor sales grow 6% to 44,478 units.
Three-wheeler sales rise 59% to 6,377 units.
Sales of medium duty light commercial vehicles rise 2% to 16,735 units.
Source: Exchange filing
Sterlite Technologies Shares Rise Most In Over 6 Weeks After Ind-Ra Upgrade
Shares of Sterlite Technologies Limited rose most in a day in over 6 weeks after India Ratings and Research upgraded its ratings for a subsidiary, Sterlite Tech Cables Solutions Limited
Its long term issuer rating upgraded to AA- from an earlier A for its, and A1+ from an earlier A1 for the short term.
Shares of Sterlite Technologies rose 4.1% to Rs 152.2 apiece, compared to a 0.73% gain in the NSE Nifty 50 as of 10:29 a.m. The stock rose 5.81% intraday, the most in over six weeks since May 17.
The average traded volume so far in the day stood at 11.4 times its monthly average, while the relative strength index was at 51.6.
Of the four analysts tracking the company, all four maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 32.8%.
Lloyds Metals And Energy Q1 Update
Lloyds Metals and Energy reported best-ever operating performance.
DRI production grew 45% to 66,273 tonnes.
Iron ore production grew 400% to 3.8 million tonnes.
Source: Exchange filing
Manufacturing PMI Shows Continuing Strength Despite Modest Downtick
Manufacturing PMI sees marginal easing to 57.8 in June from 58.7 in May.
Source: S&P Global
APL Apollo Tubes Shares Jump 4% After Recording Highest-Ever Quarterly Sales Volume In Q1FY24
Shares of APL Apollo Tubes Ltd. rose the most in over a week after it reported highest-ever quarterly sales volume of 6.62 lakh ton in the April to June quarter of FY24.
It was higher as compared to 4.23 lakh ton in the same quarter of the last fiscal and 6.50 lakh ton in quarter ended March 2023. The sales volume were supported by higher proportion from value added products, as per the exchange filing.
APL Apollo’s strategy of de-commoditization is intact. The sales mix will improve further in coming quarters with rising contribution of innovative products, said the company in a statement.
The scrip rose 1.60% to Rs 1,326.25 apiece as of 10:17 a.m., compared to a 0.72% advance in the NSE Nifty 50. The stock gained as much as 4.57% intraday, most since June 22, 2023.
Total traded volume stood at 1.7 times its 30-day average. The relative strength index was at 58.2.
Out of the 20 analysts tracking the company, 16 maintain a 'buy' rating, three recommend a 'hold' and one suggests to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 2.9%
Source: Bloomberg, Exchange filing
Mazagon Shares Rise Over 7% After Signing Rs 2,724.63 Crore Contract
Shares of Mazagon Dock Shipbuilders Ltd. rose on Monday after the company signed a contract with the Indian Navy.
On Friday, the shipyard signed a contract worth Rs 2,724.6 crore for the medium re-fit cum life certification of the second Shishumar class submarine, INS Shankush, which will extend the vessel's life.
Shares of the company rose as much as 7.67% intraday, before paring gains to trade at 5.83% high as of 9:54 a.m. This compares to a 0.70% rise in the NSE Nifty 50.
The total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 74.22, implying that the stock is overbought.
Of the four analysts tracking the company, two maintain a 'buy' rating, one recommends a 'hold', and one suggests a 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 18.3%.
TVS Motor June Wholesale Sales (YoY):
Total sales rise 3% to 3.16 lakh units.
Domestic two-wheeler sales rise 22% to 2.36 lakh units.
Two-wheeler exports fall 31% to 79,144 units.
Source: Exchange filing
NMDC June And Q1 Update
Recorded highest-ever June and Q1 production and sales in company history.
June: Production grew 35.4% YoY to 3.48 million tons and sales rose 115% YoY to 4.1 million tons.
Quarter: Production rose 20% YoY to 10.7 million tons and offtake grew 45.5% YoY to 11.15 million tons.
Source: Exchange filing
Coal India June And Q1 Update
June: Production grew 12.4% YoY to 58 million tons and offtake rose 3.6% YoY to 61 million tons.
Quarter: Production rose 9.8% YoY to 175.5 million tons and offtake grew 5.3% YoY to 187 million tons.
Plans to achieve 780 MT of output in FY24.
Source: Exchange filing
Apollo Tyres Shares Decline After Morgan Stanley Downgrades Rating To 'Equal Weight'
Shares of Apollo Tyres declines 1.50 % to Rs 400.60 apiece, compared to a 0.61% rise in benchmark Nifty 50 as of 9:44 a.m. Total traded volume stood at 2.4 times its 30-day average.
Of the 30 analysts tracking the stock, 17 maintained 'buy', eight recommends 'hold', while five suggest 'sell', according to Bloomberg data. The consensus price target implies a potential upside of 4.1% in the next 12 months.
Morgan Stanley downgraded Apollo Tyres Ltd. citing that all the positives for the stock are already priced in.
The research firm lowered Apollo Tyres Ltd. rating to 'equal weight' from 'overweight', according to a July 2 note. It increased the 12-month target price from Rs 400 to Rs 425, implying an upside potential of 4%.
HDFC Twins At Fresh Highs
HDFC hits a 14-month high at Rs 2,910.95 apiece, since April 29, 2022.
HDFC Bank hits a record high at Rs 1,747.7 per share.
Source: Bloomberg
JSW Steel Hits All-Time High At Rs 808.3 Apiece
JSW Steel rose 3% intraday to hit a historical high of Rs 808.3 per share.
Last week, JSW Vallabh Tinplate & Vardhman Industries merged into JSW Steel Coated.
Gains over 7% in one week.
Source: Bloomberg
Paras Defence And Space Technologies Wins Rs 42.4 Crore Drone Order
Paras Aerospace, a subsidiary of Paras Defence and Space Technologies, has won a Rs 42.4 crore contract from the Indian Farmer Fertiliser Cooperative.
Company will supply 400 agri-drones, including accessories, spares and training for drone pilots.
Source: Exchange filing
Sensex, Nifty, Nifty Bank At New Record Highs
As of 9:33 a.m., Sensex jumped 0.57% to a record high of 65,085.46 points. Nifty 50, on the other hand, rose 0.54% to 19.292.65 points.
Nifty Bank breached 45,000-mark to hit an intraday high of 45,083.85 points.
Source: Bloomberg
Broader Markets Open Higher
The broader market indices opened higher; the S&P BSE MidCap Index was up 0.41%, whereas S&P BSE SmallCap Index was 0.80% higher.
Nineteen out of the 20 sectors compiled by BSE advanced with S&P BSE Metal gaining the most. Only S&P BSE Realty declined.
The market breadth was skewed in the favour of the buyers. About 2,066 stocks rose, 651 declined, while 159 remained unchanged on the BSE.
Source: BSE
Top Movers On The Nifty 50 Index
HDFC Bank Ltd., HDFC Ltd., Mahindra and Mahindra Ltd., UltraTech Cement Ltd., and Infosys Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, Axis Bank Ltd., Bharti Airtel Ltd., Asian Paints Ltd., TCS Ltd., and Sun Pharmaceutical Industries Ltd., and were negatively adding to the change.
Sensex, Nifty Open At Fresh Life-Time Highs: Opening Bell
India's benchmark stock indices scaled record highs in pre-market trades on Monday after scaling fresh highs in the previous week. Asian markets rose on Monday as positive momentum from gains on Wall Street and signs of moderating U.S. inflation extended this year’s rally in global stocks.
Japan’s Topix index was on course for another gain that has the index repeatedly setting fresh highs back as far as mid 1990. Equities were also higher in South Korea, Australia and China, with notable strength in Hong Kong-listed technology shares. Shares of Asian electric-vehicle makers and related suppliers climbed after Tesla Inc. delivering a record number of cars worldwide in the second quarter.
U.S. equity futures were flat in Asia’s early hours Monday. The Nasdaq 100 rose almost 2% last week and notched its best ever first-half of a year, with Apple Inc. hitting the $3 trillion milestone along the way. The S&P 500 reached the highest since April 2022 and posted its best first half since 2019.
At pre-open, the S&P BSE Sensex Index was up 113.32 points or 0.18% at 64,831.88 while the NSE Nifty 50 Index was 58 points or 0.30% higher at 19,246.50.
TL: Sensex, Nifty At Record Highs In Pre-Market Trades
At pre-open, the S&P BSE Sensex Index was up 113.32 points or 0.18% at 64,831.88 while the NSE Nifty 50 Index was 58 points or 0.30% higher at 19,246.50.
Source: Bloomberg
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year opened flat at 7.11% on Monday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 3 paise to open at 82.01 against the U.S dollar on Monday.
The local currency closed at 82.04 on Friday.
Source: Bloomberg
Federal Bank's Total Deposits Rise 21% YoY In Provisional Terms As On June 30
Federal Bank's total deposits increased 21% YoY to Rs 2.23 lakh crore.
CASA increased 5% YoY to Rs 70,872 crore in provisional terms, while CASA ratio dipped to 31.85%.
Gross advances increased 20.9% YoY to Rs 1,86,593 crore in provisional terms.
Source: Exchange filing
Trade Setup: After Its Best Single-Day Gain In 2 Months, Nifty Sets Its Sights On 19,500 levels
Global Cues
U.S. Dollar Index at 103
U.S. 10-year bond yield at 3.83%
Brent crude up 0.07% at $75.46 per barrel
Nymex crude down 0.01% at $70.63 per barrel
GIFT Nifty up 0.14% or 28 points at 19,373 as of 8:15 a.m.
Bitcoin down 0.01% at $30,589.43
Insider Trades
Easy Trip Planners: Promoter Rikant Pittie sold 20 crore shares on June 30.
HDFC Life Insurance Company: Promoter HDFC bought 13.6 lakh shares on June 30.
Cosmo First: Promoter Gayatri & Annapurna, through its partner Ashok Jaipuria, bought 20,800 shares on June 30.
SOM Distilleries and Breweries: Promoter Jagdish Kumar Arora bought 20,000 shares on June 30.
Trading Tweaks
Price Band Revised From 10% To 5%: Zodiac Energy
Price Band Revised From 20% To 10%: 63 Moons Technologies
Ex-Date Dividend: Balaji Amines, Geojit Financial Services, Jyothi Labs,
Ex-Date Annual General Meeting: Sanginita Chemicals, Welspun Enterprises, Vaibhav Global, Bank of Baroda, Indian Overseas Bank, Nilkamal
Record-Date Dividend: Geojit Financial Services
Move Into Short-Term ASM Framework: 63 Moons Technologies
Move Out Of Short-Term ASM Framework: Suzlon Energy
Pledge Share Details
Ajanta Pharma: Promoter Aayush M. Agrawal created a pledge of 16.7 lakh shares on June 27, and promoter Ravi Agrawal revoked a pledge of 1.17 lakh shares on June 29.
Jindal Steel and Power: Promoter Siddeshwari Tradex revoked a pledge of 39 lakh shares between June 23 and 26.
Block Deals
Eris Lifesciences: Shah Rakesh sold 28 lakh shares (2.06%), while Bakshi Amit Indubhushan bought 28 lakh shares (2.06%) at Rs 680 apiece.
Syrma SGS Technology: South Asia Growth Fund II Holdings sold 29 lakh shares (1.6%) while Nomura Funds Ireland-IIndia Equity bought 11 lakh shares (0.6%), BNP Paribas Arbitrage bought 9.5 lakh shares (0.5%), Employees Provident Fund bought four lakh shares (0.2%), and Geeta Chetan Shah bought 2.32 lakh shares (0.1%) at Rs 439 apiece.
TD Power Systems: Mohib Nomanbhai Khericha sold 1.9 crore shares (12.27%), Hitoshi Matsuo sold 60 lakh shares (3.9%), Chartered Capital and Investment sold 56 lakh shares (3.63%), Nikhil Kumar sold 40 lakh shares (2.56%), Saphire Finman Services sold 11 lakh shares (0.7%), Sofia Mohib Khericha sold 10 lakh shares (0.6%), while Aditya Birla Sun Life Mutual Fund bought 63 lakh shares (4%), HDFC Mutual Fund bought 56 lakh shares (3.6%), BNP Paribas Arbitrage bought 46 lakh shares (2.9%), and ICICI Prudential Mutual Fund bought 31 lakh shares (2%), among others, at Rs 221 apiece.
Aditya Vision: Sunita Sinha sold one lakh shares (0.8%) and Est Lane Capital bought one lakh shares (0.8%) at Rs 1,655 apiece.
Bharti Airtel: Lion Meadow Investment sold 1.9 crore shares (0.3%) while Capital Group bought 1.9 crore (0.3%) at Rs 868 apiece.
Bulk Deals
Godawari Power and Ispat: Param Capital bought 10 lakh shares at Rs 520 apiece, while Kumar Agrawal sold 18 lakh shares (1.3%) at Rs 522.04 apiece, and Bajrang Lal Agrawal sold 2.85 lakh shares (2%) at Rs 523.52 apiece.
Karnataka Bank: Quant Mutual Fund bought 38 lakh shares (1.2%) at Rs 184.07 apiece.
Adani Transmission: Fortitude Trade and Investment sold 3.4 crore shares (3%) at Rs 786.17 apiece, while both Goldman Sachs GQG Partners International Opportunities Fund bought 1.40 crore shares (1.2%) and GQG Partners Emerging Markets Equity Fund bought 72.59 lakh shares (0.6%) at Rs 786.19 apiece.
Marathon Nxtgen Realty: Prarthana Enterprises sold 3.6 lakh shares (0.8%) at Rs 312.12 apiece, and Societe Generale bought 10 lakh shares at Rs 312.05 apiece.
CreditAccess Grameen: Creditaccess India BV sold 90 lakh shares (5.66%) at Rs 1245.88 apiece; BNP Paribas Arbitrage bought 12 lakh shares (0.7%) at Rs 1245.76 apiece; Canara Robeco Mutual Fund Emerging Equity bought 11.8 lakh shares (0.7%) at Rs 1245.01 apiece; and Plutus Wealth Management bought 10 lakh shares (0.6%) at Rs 1245 apiece.
Stocks To Watch: Adani Transmission, Vedanta, SBI, Aditya Birla Capital, RIL, Hero MotoCorp In Focus
Adani Transmission: GQG Partners bought 2.13 crore shares in Adani Transmission in two bulk deals. GQG Partners Emerging Markets Equity Fund bought 72.59 lakh shares at Rs 786.19 per share in a bulk deal. Goldman Sachs GQG Partners International Opportunities Fund has purchased 1.40 crore shares in Adani Transmission at Rs 786.19 apiece in a bulk deal. Fortitude Trade and Investment has sold 3.39 crore shares in Adani Transmission at Rs 786.17 per share.
Vedanta: SEBI has imposed a penalty of Rs 30 lakh on the company for violating disclosure norms. Vedanta made incorrect disclosures about its plan to enter the semiconductor business. Separately, the company said in an exchange filing that it will consider a potential strategic sale of its steel businesses to maximise stakeholder value. The company has engaged advisors to assist in this review.
State Bank of India: The bank’s Chief Financial Officer, Charanjit Surinder Singh Attra, has resigned from the position. The resignation has been accepted and comes into effect after business hours on June 30.
Hero MotoCorp: The automaker raised the prices of its motorcycles and scooters by around 1.5% with effect from July 3, 2023. The price revision is part of a price review that the company undertakes from time to time.
Reliance Industries: RIL and BP have started gas and condensate production from the third deepwater field in India's KG D6 Block, the MJ Field. The output from the block at peak will account for one-third of India's domestic gas production. MJ Field, R-Cluster Field, and Satellite Cluster are the three deepwater fields of Block KG D6 off the east coast of India.
Separately, RIL also sold 1.23 crore compulsory convertible preference shares, or 2.89% of the fully diluted share capital, of Viacom 18 to Bodhi Tree Systems.
Mazagon Dock Shipbuilders: The company has signed a contract worth Rs 2,724.63 crore with the Indian Navy for medium-refit cum Life Certification of the second Shishumar class submarine INS Shankush.
Kansai Nerolac Paints: The board of the company approved the sale of its land in Thane and an additional area measuring 97,090 square metres for a total consideration of Rs 671 crore to Shoden Developers. Shoden Developers is a group company of the House of Hiranandani.
Aditya Birla Capital: The company completed a Rs 3,000 crore fundraise. BlackRock, Abu Dhabi Investment Authority, and the Massachusetts Institute of Technology were among the key investors in the fundraise. The funds were raised via a Rs 1,750 crore QIP and a Rs 1,250 crore preferential issuance of equity shares. The preferential equity shares were issued to Aditya Birla Capital's promoter and promoter group entities, Grasim Industries Limited and Surya Kiran Investments Ltd., respectively.
PVR Inox: The company opened a 10-screen multiplex in Delhi and a 5-screen multiplex in Ahmedabad. With this launch, the company now operates the largest multiplex network with 1697 screens at 360 properties in 114 cities, including India and Sri Lanka.
Offerings: PKH Ventures IPO Day 2
PKH Ventures: The company launched its Rs 379.4-crore initial public offering on June 30. The IPO was subscribed 0.06 times, or 6%, as of 5 p.m. on day 1. The portion of retail investors was subscribed 0.13 times, or 13%, while non-institutional investors lapped 10%, or subscribed 0.10 times. There were no bids for institutional investors on day 1. The issue will close for subscription on July 4.
GIFT Nifty Signals Higher Open For Benchmark
Asian markets rose on Monday as positive momentum from gains on Wall Street and signs of moderating U.S. inflation extended this year’s rally in global stocks.
Japan’s Topix index was on course for another gain that has the index repeatedly setting fresh highs back as far as mid-1990. Equities were also higher in South Korea, Australia, and China, with notable strength in Hong Kong-listed technology shares.
U.S. equity futures were flat in Asia’s early hours Monday. The Nasdaq 100 rose almost 2% last week and notched its best ever first half of a year, with Apple Inc. hitting the $3 trillion milestone along the way. The S&P 500 reached its highest since April 2022 and posted its best first half since 2019.
Brent crude was trading around $75 a barrel, and West Texas Intermediate was below the $71 mark. The yield on the 10-year U.S. bond was trading at 3.83%, whereas Bitcoin was above the $30,000 level.
At 8:15 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.14%, or 28 points, at 19,373.
India's benchmark stock indices ended at a record high on Friday, led by gains in IT, PSU bank, and auto stocks. The Sensex surged 1.33% to hit a record high of 64,768.58, while the Nifty 50 rose 1.21% to hit a record high of 19,201.70. Later, the S&P BSE Sensex closed 803.14 points, or 1.26%, higher at 64,718.56, while the NSE Nifty 50 gained 217 points, or 1.14%, to end at 19,189.05. The Indian rupee appreciated by 2 paise to close at 82.04 against the U.S. dollar on Friday.
Overseas investors maintained their appetite for Indian equities for the third straight day. Foreign portfolio investors mopped up stocks worth Rs 6397.13 crore on Friday, according to data from the National Stock Exchange. This follows Wednesday's net buying record of Rs 12,350 crore, the highest value since March 2. Domestic institutional investors snapped a two-day selling streak to become net buyers of equities worth Rs 1,197.64 crore, the NSE data showed.
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