Stock Market Today: All You Need To Know Going Into Trade On July 10

Good morning!

The GIFT Nifty is trading 38 points higher at 25,568 at 6:45 am, indicating a positive start for the benchmark Nifty 50 later in the morning.

Globally, Asian equities were mixed while US futures dipped. European contracts were up.

• S&P 500 futures down 0.1%

• Euro Stoxx futures up 0.2%

The Indian benchmark equity indices snapped a three-session gaining streak to close lower on Wednesday, dragged by share prices of Reliance Industries Ltd. and ICICI Bank Ltd.

The NSE Nifty 50 ended 46.4 points or 0.18% lower at 25,476.1, while the BSE Sensex closed 176.43 points or 0.21% down at 83,536.08. During the day, Nifty fell 0.38% to trade at 25,424.35 and Sensex declined 0.39% to 83,382.28.

US equities closed higher Wednesday on the back of mega-cap technology names. The S&P 500 Index gained 0.6%, with eight of the 11 sectors in green, and advances led by utilities and information technology. The Nasdaq 100 climbed 0.7%, and the Dow Jones Industrial Average advanced 0.5%. Nvidia Corp. briefly became the first company in history to achieve a $4 trillion market valuation.

Asian shares were mixed at the open and Bitcoin held near a record achieved on Wednesday after Wall Street investors drove stocks higher in a sign investors are looking through the latest tariff headlines.

Oil steadied as traders weighed a large increase in US crude stockpiles and a wave of new tariff rates from President Donald Trump. West Texas Intermediate held above $68 a barrel after closing little changed on Wednesday. Brent settled near $70. 

Prices of industrial metals on the London Metal Exchange were mixed.

• Copper down 1.6%

• Aluminium up 0.4%

• Nickel down 0.4%

• Zinc up 0.8%

• Lead flat

Tata Consultancy Services, Tata Elxsi, Anand Rathi, Ireda.

• Amber Enterprises: The company will consider fundraising of up to Rs 2,500 crore at its board meeting on 12 July.

• Ambuja Cements, ACC: Subsidiary ACC has successfully commissioned a brownfield grinding unit project at its Sindri Plant in Jharkhand, with a capacity of 1.5 million tonnes per annum (MTPA), increasing the total installed cement capacity to 104.45 MTPA.

• JSW Energy: The company has been added to FTSE Russell’s FTSE4Good Index.

• Asian Paints: The company sold its entire holding of 20.1 lakh equity shares, or a 4.42% stake, in Akzo Nobel India at Rs 3,651 per share through a bulk deal, amounting to Rs 734 crore.

• Quality Power: The company and Yash Highvoltage have acquired a 100% stake in Sukrut Electric Company, a Pune-based transformer component manufacturer, via a full buyout from a German multinational.

• UPL: The company acquired a 100% stake in Wuhan Advanta Seeds through its subsidiary for $4,200, to carry out seed and related business operations.

• Fischer Medical Ventures: The company acquired a mixed-use property in Malaysia to establish an Integrated Healthcare Hub.

• Railtel Corporation: The company received an order worth Rs 17.5 crore from the Chhattisgarh General Administration Department.

• Neogen Chemicals: The company approved a proposal to raise funds via non-convertible debentures.

• PB Fintech: The company incorporated a step-down subsidiary in Dubai for Rs 2.4 crore.

• NIIT Learnings: Its Ireland-based arm acquired MST Investment Holding GmbH and its subsidiary for EUR 22.4 million (Rs 224 crore).

• Enviro Infra Engineers: The company, in joint venture with AltoraPro Infrastructure, received an order worth Rs 395 crore from Maharashtra Industrial Development Corporation.

• Granules India: The company extended a corporate guarantee in favour of MUFG Bank, Singapore branch, for CHF 25.50 million to secure a credit facility for Senn Chemicals AG, Switzerland. The guarantee is recorded as a contingent liability.

• Easy Trip Planners: The company received communication from Rollins International withdrawing from the transaction. The board approved the draft termination agreement. There is no material impact on the company from this withdrawal.

• Emcure Pharma: The USFDA conducted a pre-approval inspection of the company's oncology manufacturing facility in Gujarat from 30 June to 8 July, concluding with zero observations.

• Oil India: The company signed an agreement with GAIL (India) to supply 900,000 standard cubic metres per day of natural gas.

• Brigade Enterprises: The board will meet on 14 July to approve fundraising via NCDs.

• HCL Tech: The company and Astemo Cypremos, which specialises in software and cloud services, announced a partnership to drive innovation in autonomous and smart vehicles.

• Bharti Airtel: The company has incorporated a step-down subsidiary, Airtel Money.

• Indosolar: Promoter Waaree Energies will sell a 2.4% stake or 10 lakh shares via OFS on 10–11 July 2025 at Rs 265 per share.

• Quick Heal: CEO Vishal Salvi has resigned, effective August 31.

• Share India Securities: The company approved an additional investment of Rs 30 crore in MSE through acquisition of 15 crore equity shares, representing around 1.36% of MSE’s post-issue capital.

• Muthoot Capital Services: The board approved the allotment of NCDs of up to Rs 125 crore on a private placement basis.

• Syrma SGS: The company denied reports of an Rs 1,800 crore PCB plant in Andhra Pradesh, stating it is unaware of any undisclosed information, in response to a media report that triggered a share price spike.

• The Phoenix Mills: Subsidiary Pallazzio Hotels and Leisure signed an agreement with JSW Neo Energy and O2 Renewable Energy to subscribe to 4.73 lakh equity shares and convertible debentures each in O2 Renewable for the purchase of renewable energy, with a total consideration of Rs 4.73 crore. A power purchase agreement was also signed.

• NCL Industries: In its quarterly update, the company reported a 5% year-on-year decline in cement production at 6.34 lakh MT, and a 4% fall in dispatches at 6.28 lakh MT.

• Allcargo Terminals: The board will meet on 15 July 2025 to consider a proposal for raising funds through shares, warrants, or other securities.

• Redington: The company signed an agreement with Amazon Web Services for a downstream strategic distribution partnership.

• Federal Bank: The company appointed Venkatraman Venkateswaran as Executive Director for a term of three years.

Motilal Oswal On Bharat Dynamics

• Initiated 'neutral' with a target price of Rs 1,900.

• Increased global spending augurs well for the Indian defence sector.

• Positive industry tailwinds to benefit Bharat Dynamics.

• Expects Bharat Dynamics’ total addressable market size to be Rs 50,000 crore.

• Emerging as a leading integrator of missile platforms.

• Strong order book and easing supply chain issues to scale up revenue.

• Focus remains on indigenisation.

• Valuations fair, would look for lower price points to enter the stock.

JPMorgan On Coal India

• Maintained 'neutral' with a target price of Rs 415.

• Should deliver monthly volume growth from July/August as the base turns more favourable.

• Base favourable owing to weakening power demand trends, stable inventory at thermal power plants and steady rise in volumes from captive mines.

• Coal India may witness a slight relief rally in the near term as monthly volume prints show growth, the brokerage said.

• These rallies may be short-lived as the underlying fundamentals are not improving.

• Continue to see headwinds from lower international thermal coal prices.

• This could weigh on the e-auction premium.

HSBC On Axis Bank

• Maintained 'buy' with a target price of Rs 1,430.

• FY25 annual report highlights improvement in granular liabilities, control on costs and stable fee contributors.

• Increase in salary accounts, cut-back in certain cost heads and sharp growth in bancassurance fees are positives.

• Small improvements can be significant catalysts for stock growth.

• Travel Food Services: The public issue was subscribed to 2.88 times on day 2. The bids were led by Qualified institutional investors (7.7 times), non-institutional investors (1.58 times), retail investors (0.69 times) and reserved for employees (1.72 times).

• Smartworks Coworking Spaces: The company will offer shares for bidding on Thursday. The price band is set from Rs 387 to Rs 407 per share. The Rs 582.56-crore IPO is a combination of fresh issue of Rs 582.56 crore and rest offer for sale.

• Akzo Nobel India: Asian Paints sold 20.1 lakh shares (4.41%) at Rs 3,651 apiece, while Eastspring Investments India Consumer Equity sold 2.5 lakh shares (0.54%), ICICI PRUDENTIAL Mutual Fund bought 7 lakh shares at Rs 3,651 apiece.

• Crizac: Abakkus Asset Manager bought 36.72 lakh shares (2.09%) at Rs 298.33 aiece.

• Sammaan Capital: Smallcap World Fund sold 1.73 crore shares (2.08%) at Rs 122.56 apiece, while Thakkar Nileshkumar Farshuram HUF bought 64.99 lakh shares (0.78%) at Rs 123.96 apiece.

• List of securities shortlisted in Short - Term ASM Framework Stage - I: Jeena Sikho Lifecare, Sharda Motor Industries, Zota Health Care.

• List of securities to be excluded from ASM Framework: Balaji Amines, Kirloskar Brothers.

• Price Band change to 20% from 10%: SML Isuzu

• Ex-Dividend: Dr. Reddy Laboratories, Diffusion Engineers.

• Shares to Exit Anchor Lock-In: Indo Farm Equipment

• Nifty July Futures down by 0.24% to 25,550 at a premium of 74 points.

• Nifty July futures open interest up by 0.86%.

• Nifty Options July 10 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,400.

• Securities in ban period: Hindustan Copper, RBL Bank

Rupee closed two paise stronger against US Dollar at 85.68. It closed at 85.70 a dollar on Tuesday. The benchmark yield on the 10-year bond settled one basis points higher at 6.38% on Wednesday.