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Market breadth was skewed in the favour of buyers. Around 2,021 stocks rose, 1,913 fell, and 92 remained unchanged on the BSE.
Tamilnad Mercantile Bank Ltd.'s board has finalised names of two candidates for position of Executive Director.
Source: Exchange filing
Diamond Power Infrastructure Ltd. has received a Rs 900 crore order from Adani Energy Solutions Ltd. for supply of conductors.
Source: Exchange filing
Tata Motors Ltd. has revised starting prices of SUV Harrier and Safari
The company is to give benefits up to Rs 1.4 lakh on SUV variants.
Source: Bloomberg
Alembic Pharmaceuticals Ltd. has received the US Food and Drug Administration's final approval for ANDA of Bromfenac Ophthalmic Solution.
Bromfenac Ophthalmic Solution is used to treat eye pain and swelling post cataract surgery.
Source: Exchange filing
Infibeam Avenues Ltd. is to acquire remaining 26% stake in Infibeam Digital Entertainment.
The company is to incorporate wholly-owned subsidiary and transfer Artificial Intelligence business.
Source: Exchange filing
Adani Power Ltd. had 48.4 lakh shares changed hands in a bunch trade.
Life Insurance Corp of India had 26.2 lakh shares changed hands in a large trade.
Ajmera Realty & Infra India Ltd. board approved re-appointment of Rajnikant S Ajmera as Chairman and managing director with effect from Aug 1.
Source: Exchange filing
April-June revenue rose 13% on year, driven by growth in patient volume and test volume.
Truhealth wellness and bundling segment fastest-growing part of company.
April-June B2C revenue rose 18% on the year.
Cash reserves as on June 30 stand at Rs 140 crore.
April-June margins increased due to operating leverage via higher B2C business.
Source: Exchange filing
Aditya Birla Fashion and Retail Ltd.'s 37.23 lakh shares changed hands in bunch trade.
Its 0.37% equity changed hands at Rs 324.55 per share, according to data on Cogencis. Buyers and sellers are unknown.
Source: Cogencis
Quess Corp Ltd. has named Gurmeet Chahal as CEO of Quess Global Technology Solutions Ltd.
The appointment is effective from Monday.
Source: Exchange filing
June speciality alloys sales rose 7% at 15,216 million ton
June aluminium foil sales fell 6.3% at 1,176 million ton
June stainless steel sales rose 100% at 7,015 million ton
April-June aluminium foil sales fell 9.2% at 4,572 million ton
April-June stainless steel sales rose 14.6% at 18,851 million ton
April-June speciality alloys sales fell 9.7% at 46,619 million ton
Source: Exchange filing
Maruti Suzuki Surges After Uttar Pradesh Waives Registration Fee On Hybrid Cars
Stock Of The Day: Affle Gets 20% Upside Projection As Citi Initiates 'Buy'—Key Levels, Analysts' Take
Larsen & Toubro Ltd. received an order in the range of Rs 1,000-2,500 crore for part construction of two fleet support ships.
Source: Exchange filing
Kalpataru Projects Sets Fundraising Limit Via NCDS
RVNL Shares Soar To Record After Large Trades
Yes Bank Rises On Stake Sale Reports
Multibagger Inox Wind Gains Nearly 7% After Large Turnkey Order
Torrent Power Shares At Over Two-Week High After Solar Project Deal
Berger Paints Ltd. had 10 lakh shares traded in a bunch trade.
PC Jeweller Ltd. had 19 lakh shares changed hands in a large trade.
Rail Vikas Nigam Ltd. had 9.3 lakh shares traded in a pre-mark large trade.
HDFC Bank Ltd. had 11.8 lakh shares traded in a bunch trade during pre-market.
Indian Railway Finance Corp Ltd. had 11.2 lakh shares changed hands in a pre-market large trade.
Market breadth was skewed in favour of buyers. Around 2,056 stocks rose, 826 stocks declined, and 126 stocks remained unchanged on BSE.
Yes Bank Ltd. has clarified report of RBI nod for stake sale by founder.
The RBI has not given any in-principle approval for stake sale.
Source: Exchange filing
At pre-open, the NSE Nifty 50 was trading 30.45 points or 0.13% higher at 24,351.00, and the S&P BSE Sensex was trading 0.18% higher at 80,107.21.
The yield on the 10-year bond opened flat at 6.99%.
It closed at 6.99% on Monday.
Source: Cogencis
Rupee Opens Flat Against Dollar As Crude Prices Ease
RateGain Travel Technologies Ltd. is in multi-year pact with Malaysia Airlines for AI-powered rate intelligence.
Source: Exchange filing
MCX End-of -day processes for yesterday’s trade date have been delayed due to some technical issues, MCX said.
Special session will start at 9:45 am and market will start at 10:00 am today.
Source: Website
Analysis of state budget reveals more populist tone across board
Fiscal deficit projected to rise from 2.4% to 3.3% in FY25
Capex numbers can get significantly revised down when pressured by committed welfare schemes
Jump of non capex expenditure comes at the cost of the fiscal
Income transfer schemes announced by the government might raise question on the central government’s budget
Still, government has substantial headroom for “please-all budget”
This can include income tax cuts and welfare spending boost
Preferred picks: Bharti Airtel, TVS, Eicher
Larsen & Toubro Ltd.'s unit is in pact to buy 100% stake in Siliconch Systems for Rs 133 crore upfront payment.
Deal to buy Siliconch Systems includes payment of additional Rs 50 crore over 4 years.
Source: Exchange filing
Inox Wind Energy Ltd. has received a 200 MW order from a renewable C&I power producer for projects in Gujarat & Rajasthan.
It has received an order for 3 MW wind turbine generators.
The company is to provide post commissioning multi-year O&M services.
Source: Exchange filing
Citi Research has initiated a 'Buy' on Affle (India) Ltd. with Buy. It has set the target price Rs 1,600, which implied an upside of 19.5%
It is an AdTech platform and will benefit from new online customer acquisition spending
It has partnerships across supply side with OEMs
Has a conversion based business model where customers pay for the performance
Has its focus in acquisitions, recent acquisition: YouAppi
Expect 20% top-line CAGR over FY24-27E and 400bps EBIT margin expansion
Value Affle at 48x Mar’26E P/E.
Initiated coverage on Auto and Software Engineering Services Companies
These companies have specialization in auto and software services
Investment in engineering have become a necessity to develop new products and solutions
Digitisation and scarcity of talent has increased outsourcing
This benefits specialists in the auto software segment
Engineering Services is growing faster than IT services
Automotive segment has seen disruption across electrification and autonomous
Software has new technologies like Cloud, IoT, AI
This has led to R&D intensity increasing
Persistent Systems:
Initiated with Outperform with a target price Rs. 5,920, upside: 24%
Specialised in software services,
Working with clients like Microsoft and salesforce
KPIT Technologies
Initiated with Outperform with target price Rs. 2,120, upside: 25%
Serves large OEMs and tiers like BMW, GM, Cummins
Has become a dominant player since its IPO in April 2019
Coforge
Initiated with Market perform, TP: Rs. 6,080, upside: 3.6%
Traditional IT services company with focus on BFSI
Expect large IT services companies to gain market share over time
Recent acquisition of Cigniti likely to see headwinds due to AI disruption
Tata Elxsi:
Initiated with Underperform, TP: Rs. 6,030, upside: 14.2%
Has delivered just 17% CAGR over the last 5 years
This is the slowest growth amongst engineering peers
Top 5 clients account for 44% of revenue, is a key risk
Stock is expensive at 50x P/E with slowing growth momentum
Nuvama maintains a 'Buy' with a target price of Rs 1,510
India volume growth (organic) is likely to be 8% YoY (5% value growth)
Negative forex impact drags down top-line growth
Expects consolidated sales/EBITDA to grow 2.1%/12% YoY
Domestic volumes (organic) are likely to inch up 8% YoY
Expects overall gross/EBITDA margin to expand 196bp/193bp YoY
International business shall dip 1% YoY in INR terms.
Indonesia, mid-single digit volume growth is likely on high base;
Indonesia likely to post strong double-digit EBITDA growth.
Expects a weak GAUM business (likely double-digit volume fall),
In profit terms, expects strong double-digit growth from GUAM business.
Q2FY25 expects a positive trajectory in Africa to resume in volume terms.
SBI Keen To Sell 24% Stake In Yes Bank
Asian Stocks Edge Higher Before Powell’s Testimony: Markets Wrap
All You Need To Know About FII Positions Going Into Trade On July 9
Nestle India Shareholders Approve Continuation Of 4.5% Royalty Fee To Swiss Parent
Price band changes from 10% to 5%: Suven Life Sciences.
Price band changes from 20% to 10%: Suraj Estate Developers.
Ex/record Dividend: JSW Steel, JK Cement, Polycab India, Persistent Systems, Deep Industries, DCM Shriram.
Ex/record AGM: Central Bank of India, JSW Steel, JK Cement, Persistent Systems.
Moved in short-term framework: AGI Greenpac, Dredging Corp., Bhansali Engineering Polymers.
Adi-Nadir Family Buys Over 12% Stake In Godrej Industries For Rs 3,800 Crore
Godrej Industries: RKN Enterprises sold 4.25 crore shares (12.64%). Nadir Burjor Godrej bought 2.54 crore shares (7.57%), Tanya Dubash bought 56.94 lakh shares (1.69%), Nisaba Godrej bought 56.94 lakh shares (1.69%) and Pirojsha Adi Godrej bought 56.94 lakh shares (1.69%) at Rs 893.05 apiece.
Swan Energy: 2I Capital PCC sold 15 lakh shares (0.47%) at Rs 666.2 apiece, EOS Multi-Strategy Fund Aiflnp V.C.I.C. sold 15 lakh shares (0.47%) at Rs 666.2 apiece, Dovetail India Fund sold 12 lakh shares (0.38%) at Rs 666.2 apiece, Paulomi Ketan Doshi sold 1.8 lakh shares (0.05%) at Rs 692.6 apiece and Epitome Trading And Investments sold 1.76 lakh shares (0.05%) at Rs 692.6 apiece. Three Blackrock affiliates acquired 45.56 lakh shares (1.44%) at Rs 668.27 apiece.
Godrej Consumer Sees Double-Digit Volume Growth Across Home, Personal Care Segments In Q1
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