Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.13% at 24,046 as of 7:04 am. Equity-index futures for the US (S&P 500) rose 0.15%. while Europe (Euro Stoxx 50) dipped 0.30%.
India Market Recap
Indian equity benchmarks halted their three-day gaining streak amid Nifty's weekly F&O expiry and weak global cues. The NSE Nifty 50 fell 158.95 points, or 0.66%, to 24,052.05. The BSE Sensex declined 561.46 points, or 0.72%, to 77,054.94.
US Market Recap
Wall Street traded in positive territory on Tuesday morning (US time) after a cooler-than-expected inflation reading boosted expectations that the Federal Reserve could have more room to ease monetary policy later this year. Chip stocks rebounded, helping the Nasdaq outperform the broader market.
Asian Market Update
Asia-Pacific markets opened higher on Wednesday as investors assessed weaker-than-expected U.S. inflation data, pushing technology stocks up and eased concerns that the Federal Reserve could resume raising interest rates.
The gains were led by South Korea's Kospi surging 6.33%, while Japan's Nikkei 225 rose 0.73%. Australia's ASX 200 rose 0.47%, while China's Shanghai Composite remained 0.01% lower.
Commodity Check
Oil prices continued to gain for a third consecutive session on Wednesday amid US-Iran uncertainties. Global benchmark Brent crude climbed toward $86 a barrel, while West Texas Intermediate traded above $80, building on an 11% surge over the previous two sessions.
ALSO READ: Gold Reclaims $4,000, Silver Up 2% As Light Inflation Data Eases Fed Rate Hike Fears
Earnings And Updates
Tata Elxsi (Q1, QoQ)
- Revenue up 2.8% to Rs 1,021 crore versus Rs 994 crore.
- Ebitda down 12.4% to Rs 193.8 crore versus Rs 221.3 crore.
- Margin at 19% versus 22.3%.
- Net profit down 22.6% to Rs 171 crore versus Rs 220 crore.
L&T Technology Services (Q1, Consolidated QoQ)
- Revenue up 2.9% to Rs 2,940 crore versus Rs 2,858 crore.
- Ebitda up 6.1% to Rs 461.3 crore versus Rs 435 crore.
- Margin up 47 bps at 15.68% versus 15.21%.
- Net profit up 7.4% to Rs 357 crore versus Rs 332 crore.
Anand Rathi Share & Stock Brokers (Q1, Consolidated QoQ)
- Total income down 3.7% to Rs 247 crore versus Rs 256 crore.
- Net profit down 43.8% to Rs 23.4 crore versus Rs 41.6 crore.
- Approved fundraising of up to Rs 500 crore via NCDs.
Signature Global Q1 business update
- Pre-sales rose 25% QoQ to Rs 1,970 crore in Q1FY27.
- Average sales realisation increased to Rs 17,093 per sq. ft. in Q1FY27.
- Collections stood at Rs 670 crore in Q1FY27.
- Entered the branded residences segment in collaboration with Italy's Tonino Lamborghini.
Stocks in News
- IOL Chemicals & Pharmaceuticals: China's NMPA approved the company's Clopidogrel Bisulfate API.
- Kirloskar Bros: SPP Pumps secured an order worth GBP 11.7 million from Saipem for vertical pumps and spares. The order will be executed over 52-60 weeks.
- NBCC: Board approved the merger of HSCC into NBCC.
- Easy Trip Planners: EaseMyTrip signed an MoU with Jharkhand Tourism to promote digital tourism.
- 63 Moons Technologies: Wholly owned subsidiary Financial Technologies Singapore Pte Ltd acquired 79.58 lakh equity shares in unlisted subsidiary Ticker Ltd through the secondary market for about Rs 21.49 crore.
- Delhivery: RBI approved Delhivery Financial Services' Type II-NBFC-ND registration.
- Axis Bank: Axis Finance allotted shares to Kedaara investors. Axis Bank's stake fell to 94.92%.
- Jain Resource Recycling: Operations were affected due to a fire. The affected section has been temporarily suspended. The damage is covered by insurance and the company is extending support to affected persons and their families.
- Indo Thai Securities: 60,500 preferential warrants lapsed due to non-exercise of conversion rights. The company approved forfeiture of the upfront subscription amount, equivalent to 25% of the issue price, and cancelled the warrants.
- Sobha: Board meeting scheduled on July 20, 2026 to consider Q1FY27 results and issuance of non-convertible debentures through private placement in one or more tranches.
- Mufin Green Finance: Management Committee approved fundraising of up to Rs 75 crore through listed secured non-convertible debentures, including a Rs 25 crore greenshoe option. It also approved issuance of foreign currency bonds of up to $6 million under the ECB route through private placement.
- Capacite Infra: Received an order worth Rs 482 crore from Twenty-Five Downtown Realty Ltd.
- IDBI Bank: Clarified that reports related to Fairfax pertain to the Government of India's strategic disinvestment process. The bank said it has not received any communication from the government regarding finalisation of the transaction.
- SEAMEC: Board approved the sale of vessel SEAMEC Gallant, owned by wholly owned subsidiary SEAMEC International FZE, to Bo Yuan Han Ltd, Hong Kong, for $9.5 million.
- Inventurus Knowledge Solutions: Wholly owned subsidiary IKS Inc. completed the first tranche investment of $2.84 million in IKS WWMG MSO by subscribing to 28.40 lakh common units. Its stake increased to 51.88% from 48.02%.
- Dalmia Bharat Sugar and Industries: Approved development of an integrated sugar project in Tanzania through subsidiary Eagle Agrotech Tanzania with an investment of $132 million.
- Belrise Industries: Launched its QIP on July 14, 2026 with a floor price of Rs 230.79 per share. The company may offer a discount of up to 5% and approved the preliminary placement document.
- Rajratan Global Wire: Received the final tranche of Rs 3.27 crore under the Madhya Pradesh government's investment incentive scheme, completing the Rs 22.92 crore assistance programme.
- PC Jeweller: CESTAT ruled in favour of the company and its Managing Director, dismissing DRI allegations related to customs duty on imported jewellery.
- Linde India: Invested Rs 69.9 crore in Zenataris Renewable Energy as the final tranche of its Rs 105 crore investment plan.
- Shriram Finance: Board meeting scheduled on July 24, 2026 to consider Q1FY27 results and approve a resource mobilisation plan through NCDs, subordinated debentures, bonds, notes and other onshore and offshore borrowings.
- Texmaco Rail Engineering: CFO Kishor Kumar Rajgaria resigned due to personal reasons.
- Tamilnad Mercantile Bank: Received a favourable ruling after the SAFEMA Tribunal dismissed the ED's appeal related to alleged FEMA violations in the transfer of 46,862 shares.
- Samvardhana Motherson: Completed acquisition of an 11% stake in Japan-based Shinnichi Kogyo for JPY 330 million through subsidiary Motherson Global Investments B.V. as part of the previously announced acquisition of an 81% stake in Yutaka Giken.
- Lemon Tree Hotels: Terminated the hotel operating and licence agreements for Lemon Tree Wildlife Resorts, Kanha. The company also signed a licence agreement for Lemon Tree Hotel, Jorhat, Assam.
- REC: Incorporated Kesurdi Power Transmission Ltd for the 220 kV GIS Kesurdi project.
- Raymond Lifestyle: Appointed Satyaki Ghosh as Whole-time Director and Chief Executive Officer for five years.
- Hero MotoCorp: Approved an additional investment of up to Rs 1,000 crore in Ather Energy through subscription to equity shares or convertible securities on a preferential basis. Hero currently holds a 29.48% stake in Ather.
- PDS: PDS Ltd and Busana Apparel Group entered into a strategic partnership to build global apparel manufacturing capacity.
- Jammu & Kashmir Bank: Proposed to sell 1.02 crore shares, representing a 0.50% stake, in PNB MetLife India Insurance to MetLife International Holdings for Rs 120.10 crore at Rs 117.20 per share. Its stake will reduce to 2.53% from 3.03%.
- Tata Power: Approved allotment of 1.50 lakh unsecured, rated and listed NCDs worth Rs 1,500 crore through private placement at a coupon of 7.50% for five years.
- KEC International: Received new orders worth Rs 1,180 crore.
- NIBE: Allotted 2,40,500 shares at Rs 1,258 each upon conversion of warrants. Share capital increased to Rs 15.50 crore.
- L&T Technology Services: Partnered with Anthropic to integrate Claude across AI engineering platforms.
- ICICI Lombard: An arbitral tribunal directed the company to pay Rs 78 crore to an insured party along with interest at 7.5% per annum.
- Goodluck India: India Ratings & Research assigned IND AA-/Stable for long-term facilities and IND A1+ for short-term facilities on bank loan facilities of Rs 1,150 crore.
- RBL Bank: CARE Ratings upgraded the rating on Tier II bonds to CARE AAA/Stable from CARE AA-. It also removed the rating watch with positive implications and reaffirmed the CARE A1+ rating on certificates of deposit.
- Chambal Fertilisers & Chemicals: The Income Tax Commissioner upheld tax penalties of Rs 1.94 crore related to disallowance of education cess.
- Utkarsh Small Finance Bank: CARE Ratings downgraded the rating on Rs 200 crore subordinated debt to CARE A-/Stable from CARE A/Negative.
- HEG: India Ratings assigned IND A-/Stable for long-term facilities and IND A1 for short-term facilities of wholly owned subsidiary TACC Ltd amounting to Rs 1,230 crore.
- Keystone Realtors: CRISIL assigned a CRISIL AA-/Stable rating to the company's bank loan facilities and reaffirmed the CRISIL AA-/Stable rating on Rs 335 crore of non-convertible debentures.
- State Bank of India: Moody's affirmed the bank's long-term deposit rating at Baa3 and Baseline Credit Assessment at baa3 with a stable outlook.
Board Meetings
Fund Raising
Ather Energy Limited
Brigade Enterprises Limited
Sambhv Steel Tubes Limited
IPO Listings
Kusumgar:
Mumbai-based manufacturer of engineered synthetic fabrics and technical textiles
IPO listing on 15th July, lower Price Band Rs. 398, upper Price Band Rs. 419
Kusumgar IPO Subscription | |
Investor Category | Subscription (times) |
Qualified Institutional | 284x |
Non Institutional | 165x |
Retail Individual | 26x |
Employee Reservations | 10x |
Total Subscription | 129x |
AGM
Bliss GVS
Escorts Kubota
Kalpataru Projects International Ltd
Wipro
Sona BLW
Lloyds Engineering Works Ltd
Yash Highvoltage
Earnings
Angel One Limited
Emmvee Photovoltaic Power Limited
Fedbank Financial Services Limited
Billionbrains Garage Ventures Limited (Groww)
HDB Financial Services Limited
HDFC Asset Management Company Limited
HDFC Life Insurance Company Limited
Himadri Speciality Chemical Limited
ICICI Lombard General Insurance Company Limited
ICICI Prudential Life Insurance Company
Jana Small Finance Bank Limited
Sai Silks (Kalamandir) Limited
Mangalore Refinery and Petrochemicals Limited
Network18 Media & Investments Limited
Oriental Hotels Limited
Raghav Productivity Enhancers Limited
Steel Strips Wheels Limited
Union Bank of India
Block/Bulk Deals
- SG Mart - Abu Dhabi Investment Authority bought 11,23,000 shares at Rs. 650. HR Global Manufacturing Pvt Ltd sold 22,00,000 shares at 650.02. Public Sector Pension Investment Board bought 10,00,000 shares at Rs. 649.98
- Just Dial - Irage Broking Services LLP net sold 2,87,355 shares at Rs. 765.25
- Biocon -Mylan Inc. sold 4.59 cr shares at Rs. 400/share. ICICI Prudential Mutual Fund bought 1.84 cr shares at Rs. 400. Authum Investment & Infrastructure Ltd. bought 6.26 lakh shares at Rs.400/share. Abakkus Growth Fund - Open Ended bought 6.26 lakh shares at Rs.400/share. Aditya Birla Sun Life Mutual Fund bought 6.26 lakh shares at Rs.400/share. Canara Robeco Mutual Fund bought 6.26 lakh shares at Rs.400/share. Franklin Templeton Mutual Fund bought 9.38 lakh shares at Rs.400/share. HDFC Mutual Fund bought 57.67 lakh shares at Rs.400/share. HDFC Life Insurance Company Ltd. bought 6.26 lakh shares at Rs.400/share. IDFC Mutual Fund bought 6.26 lakh shares at Rs.400/share. ICICI Prudential Mutual Fund bought 1.84 crore shares at Rs.400/share. ICICI Prudential Life Insurance Company Ltd. bought 12.50 lakh shares at Rs.400/share. Kotak Mahindra Mutual Fund bought 57.67 lakh shares at Rs.400/share. Mirae Asset Mutual Fund bought 9.38 lakh shares at Rs.400/share. Morgan Stanley Asia Singapore Pte. bought 12.52 lakh shares at Rs.400/share. SBI Mutual Fund bought 31.25 lakh shares at Rs.400/share. Societe Generale bought 16.25 lakh shares at Rs.400/share. Vanguard Emerging Markets Shares Index Fund bought 6.26 lakh shares at Rs.400/share. WhiteOak Capital Mutual Fund bought 6.26 lakh shares at Rs.400/share. Mylan Inc. sold 4.85 crore shares at Rs.400/share.
List of securities shortlisted in Short - Term ASM Framework Stage
Kalyan Jewellers India Limited
C.E. Info Systems Limited
List of Securities to be excluded from ASM Framework
EPack Prefab Technologies Limited
Amir Chand Jagdish Kumar (Exports) Limited
Price Band
Price Band revised from 20% to 10% - Just Dial Limited
ALSO READ: IBM Crash Spooks Markets: How Infosys, Wipro, TCS, Other Indian IT Stocks Will React On Wednesday
F&O Cues
Nifty July Futures is down 0.91% to Rs. 24,022.00 at a discount of Rs. 30.05.
Maximum Call OI at 24100 strike and Maximum Put OI at 23000 strike.
Stocks Under Ban - Kaynes
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