Good morning!
The GIFT Nifty traded higher by 31.5 points or 0.12% at 25,632.5 as of 6:20 am, signalling a higher start to Indian equities.
Index futures for equities in the US and Europe marginally rose, while key Asian benchmarks were mixed. Wall Street ended at record while the dollar sunk against most major currencies.
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Markets On The Home Turf
Indian benchmark equity indices closed with losses on Monday, led by share prices of Tata Consumer Ltd. and Axis Bank Ltd.
The NSE Nifty 50 ended 120.75 points, or 0.47% lower at 25,517.05, while the BSE Sensex closed 452.44 points, or 0.54% down at 83,606.46. During the day, Nifty fell 0.64% to trade at 25,473.30 and Sensex declined 0.69% to 83,482.13.
Commodity Check
Oil steadied near the lowest level since early June with the focus on how much OPEC+ will increase output quotas this weekend.
Brent crude traded below $67 a barrel, while West Texas Intermediate was near $65.
London Metal Exchange
Copper down 0.1%.
Aluminium up 0.1%.
Nickel down 0.2%.
Zinc down 1%.
Lead flat.
Asian Markets Update
S&P 500 futures up 0.04%.
Euro Stoxx 50 futures up 0.04%.
Futures for Hong Kong’s Hang Seng Index down 0.06%.
Nikkei 225 down 0.8%.
Japan’s Topix index down 0.5%.
Kospi up 1.6%
Australia’s S&P/ASX 200 up 0.14%.
US Market Wrap
Wall Street surged to all-time highs at the end of a solid June quarter amid hopes the US is moving closer to reaching concrete trade deals with its top partners. Bets the Federal Reserve will resume rate cuts powered the best first-half stretch for Treasuries in five years.
The S&P 500 ended 0.5% higher and the Dow Jones Industrial Average added 275 points or 0.6%. The tech-heavy Nasdaq Composite gained 0.5%.
Key Events, Economic Data To Watch
10:30 a.m. Nikkei S&P Global Manufacturing PMI
2:10 p.m. Europe CPI
7:00 p.m. Fed Chair Powell Speech
7:15 p.m. Manufacturing PMI
Stocks In News
Patel Engineering: To consider a proposal for issuance of debt securities at its board meeting on July 3.
L&T: The company's subsidiary L&T Energy Green Tech has incorporated a wholly owned arm, Panipat Green Hydrogen.
Astra Microwave: To allot 20 lakh convertible warrants at Rs 864 per share, aggregating to Rs 173.9 crore on a preferential basis.
Wipro: Appointed Tulsi Naidu as chairperson of the nomination and remuneration committee.
Federal Bank: Board approved fundraise of up to Rs 6,000 crore via bonds.
Hindustan Copper: Signed MoU with Coal India to identify and evaluate opportunities in copper and critical minerals. Will explore partnerships with global companies in these sectors.
ESAF Small Finance Bank: Transferred NPAs and technically written-off loans worth Rs 733.4 crore to an asset reconstruction company for Rs 73.34 crore.
CG Power: Launched a QIP to raise up to Rs 3,000 crore at an indicative price of Rs 660 per share — a 3.25% discount to its previous closing. The issue will lead to a 2.89% dilution of post-issue equity. Opens June 30, closes July 1.
Bharat Electronics: Secured additional orders worth Rs 528 crore, including radars, EVMs, jammers, shelters, and control centres.
NCC: Received orders worth Rs 1,691 crore in June under the building division from state agencies and a private company.
Deep Industries: Approved amalgamation of its subsidiary Kandla Energy and Chemicals with the company.
Timken India: Commenced commercial production at its new manufacturing facility in Bharuch.
Thangamayil Jewellery: Opened new branches in Chennai.
Hindustan Zinc: Contributed Rs 90,000 crore to the exchequer over five years, including Rs 18,963 crore in financial year 2025.
Belrise Industries: Approved amalgamation of subsidiary H-One India with the company.
Hudco: Achieved loan sanctions of Rs 33,904 crore and disbursements of Rs 12,812 crore in the first quarter.
NHPC: Declared commissioning of Phase IV (53.57 MW) of the Karnisar Solar Project; total operational capacity now at 214.28 MW of 300 MW planned.
Exicom Tele-Systems: Received in-principle approvals from NSE and BSE for proposed Rs 260 crore rights issue.
Capri Global: Approved fundraise of up to Rs 1,000 crore via NCDs.
Praj Industries: Shishir Joshipura completed tenure as Chief Executive Officer and Managing Director. He also ceased to be director.
Sigachi Industries: Fire at Hyderabad plant led to a fatality and the operations were halted for 90 days.
Astec Lifesciences: Approved rights issue in 1:7 ratio at Rs 890/share, aggregating to Rs 250 crore.
Aurobindo Pharma: Extended timeline to acquire 26% stake in Swarnaakshu Solar.
KSB: Received significant order from L&T for supply of 15 sets of main and booster boiler feed pumps.
Can Fin Homes: Appointed Abhishek Mishra as chief financial officer for three years. Prashanth Joishy has resigned as interim CFO.
Yatharth Hospital: Land dispute for Ramraja Hospital resolved following MP High Court order; operations remained unaffected.
Balaji Amines: Commenced commercial production of Isopropylamine (MIPA/DIPA) at its Osmanabad unit.
Avenue Supermarts: Opened two new stores in Madhya Pradesh and Vadodara taking the total store count at 424.
Texmaco Rail: Secured Rs 27.8 crore order from Southwestern Railway for TRD maintenance and breakdown activities.
SJVN: The company's ubsidiary achieved commercial operation of 100.25 MW capacity out of 1000 MW Bikaner Solar Project.
Bank of India: Reduced MCLR by 5 basis points across all tenures.
MTAR Technologies: Appointed Rama Mohan Rao Kasukurthi as VP of Human Resources.
Ashok Leyland: Ganesh Mani takes on additional role as chief executive officer of Switch India.
REC: Clarified that all critical overdues from KIPCL and TSWRIDC have been cleared and both loans are secured with state government guarantees.
Bajaj Hindusthan Sugar: Approved share tender under Rs 631 crore buyback offer from Lalitpur Power Generation Company.
Kalpataru Projects: Secured Rs 989 crore overseas order in transmission and distribution segment.
SEPC: Approved allotment of Rs 35 crore partly paid-up equity shares on a rights basis.
Lupin: Transferred API R&D division in Pune to arm Lupin Manufacturing Solutions via slump sale.
United Breweries: Launched 'Amstel Grande' beer in Karnataka in the premium strong category.
Shree Cement: Subsidiary emerged as preferred bidder for a limestone block in Rajasthan.
Aditya Birla Capital: Allotted Rs 1,300 crore worth of NCDs via private placement.
Diffusion Engineers: Secured Rs 48 crore order for supply of high-pressure grinding rolls for the cement sector.
Prestige Estates: Launched 21.84-acre residential project in Chennai with a gross development value of Rs 3,350 crore.
Stanley Lifestyles: To increase product prices by 4–6% across retail formats effective tomorrow.
Bikaji Foods: Amalgamation of Vindhyawasini Sales with the company becomes effective.
Share India Securities: Backing fintech veteran Prabhakar Tiwari's new wealthtech venture.
Samvardhana Motherson: Motherson Technology Services Kabushiki Gaisha becomes a wholly owned step-down subsidiary.
Godrej Industries: Increased stake in Godrej Capital to 90.89% from 89.48% for Rs 285 crore.
Apollo Hospitals: To merge two subsidiaries to form Apollo Healthtech. The merged company will then be listed on the NSE and BSE.
Bharat Forge: Transferred defence business to subsidiary Kalyani Strategic Systems. Also approved acquisition of AAM India Manufacturing for up to Rs 770 crore.
IPO Offering
Indogulf Cropsciences: The public issue was subscribed to 25.98 times on day 3. The bids were led by qualified institutional investors (33.26 times), non-institutional investors (48.35 times), retail investors (14.78 times) and reserved for employees (1.09 times).
Listing Day
Globe Civil Projects: The company's shares will debut on the stock exchange on Tuesday at an issue price of Rs 71 apiece. The Rs 119-crore IPO was subscribed 86.04 times on its third and final day.
Ellenbarrie Industrial Gases: The company's shares will debut on the stock exchange on Tuesday at an issue price of Rs 400 apiece. The Rs 852.53-crore IPO was subscribed 22.19 times on its third and final day.
Kalpataru: The company's shares will debut on the stock exchange on Tuesday at an issue price of Rs 414 apiece. The Rs 1,590-crore IPO was subscribed 2.26 times on its third and final day.
Raymond Realty: The shares to list on July 1, 2025. Each Raymond Ltd shareholder receives one Raymond Realty Ltd share for every share held.
Bulk Deals
Wardwizard Innovations & Mobility: Yatin Gupte sold 30.2 lakh shares (1.15%) at Rs 14.98 apiece, Yatin Sanjay Gupte sold 25 lakh shares (0.95%) at Rs 14.95 apiece while Smita Hitendra Shah bought 15.34 lakh shares (0.58%) at Rs 15.01 apiece.
Gensol Engineering: Keya Vimal Salot sold 3 lakh shares (0.79%) at Rs 42.32 apiece.
Jyoti CNC Automation: Kotak Funds - India Midcap Fund bought 37.92 lakh shares (1.66%) at Rs 1087 apiece, while Paresh Mohanlal Parekh sold 68.5 lakh shares (3.01%) at Rs 1087.01 apiece. Vijay Mohanlal Parekh sold 68.5 lakh shares (3.01%) at Rs 1087.45 apiece.
One Mobikwik Systems: Citigroup Global Markets Mauritius sold 4.43 lakhs (0.57%) at Rs 246.23 apiece.
Insider Trading
Jindal Drilling & Industries: Promoter Shruti Raghav Jindal bought 28,850 shares, Promoter Raghav Jindal (Huf) bought 4,700 shares, Promoter Dharam Pal Jindal bought 68750 shares, Promoter Raghav Jindal bought 23,200 shares, Promoter Dharam Pal Jindal and Sons bought 10,865 shares, Promoter Crishpark Vincom Limited sold 1.4 lakh shares.
Info Edge (India): Promoter Sanjeev Bikhchandani sold 50,000 shares.
Transindia Real Estate: Promoter Shashi Kiran Shetty bought 9941 shares.
Quick Heal Technologies: Promoter Kailash Katkar revoked a pledge for 27.25 lakh shares.
Maharashtra Seamless: Promoter Brahmadev Holding and Trading bought 8,000 shares, Promoter Odd & Even Trades & Finance bought 37,500 shares, Promoter Amruit Promoters and Finance LLP sold 42,100 shares.
Trading Tweaks
List of securities to be included from ST-ASM Framework: Balaji Amines, Jai Balaji Industries.
List of securities to be excluded from ASM Framework: Avantel, Dam Capital Advisors, Premier Explosives.
List of securities shortlisted in Long - Term ASM Framework Stage: Orient Bell.
Price Band change from 10% to 5% band: Diamond Power Infrastructure.
Ex-Dividend: JSW Infra, Cera Sanitaryware.
Shares to Exit Anchor Lock-In: Unimech Aerospace and MFG (67%), RBZ Jewellers (20%).
F&O Cues
Nifty July Futures down by 0.53% to 25,615 at a premium of 98 points.
Nifty July futures open interest down by 3.25%.
Nifty Options July 3 Expiry: Maximum call open interest at 26,500 and Maximum Put open interest at 22,800.
Securities in ban period: RBL Bank.
Currency/Bond Update
The Indian rupee closed 26 paise weaker at 85.75 against the US dollar on Monday in comparison to its previous close of Rs 85.48 on Friday.
The yield on the benchmark 10-year government bond ended 1 bps lower at 6.39%.
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