Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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July 10, 2024

• Retail madness is driving the market and these were the guys who pulled out of the market on the election counting day.. as the numbers did not go as per exit poll.. market is an atom bomb waiting to explode..
• RBI gives the green light to sale of up to 51% stake in Yes Bank: The RBI recently gave a preliminary nod to Yes Bank and its key shareholders. This decision is notable as the RBI typically limits promoter holding in domestic banks to 26 percent, the report said.
• BIG NEWS FOR BEL AND DATA PATTERNS
• BHARAT ELECTRONICS: CO AND DATA PATTERNS BIDS HAVE CLEARED BY THE TECHNO-COMMERCIAL EVALUATION COMMITTEE (TCEC) OF IRDE, DRDO FOR THE DEVELOPMENT OF DISTRIBUTED APERTURE SYSTEM-HD (DAS-HD) FOR THE FUTURE FIGHTER PROGRAMS OF INDIAN AIR FORCE - ALPHA DEFENCE
• INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON 09-07-2024 :
• FIIS F & O : RS. CRS. :
• TOTAL NET SELL : -26501
• INDEX FUT. : +498
• INDEX OPT. : -28435
• STOCK FUT. : +1246
• STOCK OPT. : +189
• SEC. IN F&O BAN FOR, 10 July, 2024 :
• 1. ABFRL 2. BANDHANBNK 3. CHAMBLFERT 4. GNFC 5. IEX 6. INDIACEM 7. INDUSTOWER 8. PEL 9. BALRAMCHIN
• ADDITION : BALRAMCHIN, IEX
• DELETION : HINDCOPPER
• INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 09-JULY-2024 :
• FIIS : BUY +314 (14,537-14,223)
• DIIS : BUY +1,417 (13,615-12,198)
• BSE SENSEX : +391 (80,351)
• NSE NIFTY : +112 (24,433)
• BSE MIDCAP. : +168 (47,540)
• BSE SMLCAP. +120 (54,155)
• B. CRUDE : $ 85.30
• GOLD: $ 2,353=INR 73,300(10gr)
• SILVER : RS. 92,500 (kg)
• FOREX : RS. $ 83.49
• 7.10% GOI '34 : 6.9883% (100.7650)
• 7.18% GOI '33: 7.0339%(100.96)
• 7.18% GOI '37: 7.0379% (101.1950)
• News Headlines from Business News Agencies:
• Business Standard
• Kalpataru Projects International ups fund limit via NCDs to Rs 1,600 cr
• Rajasthan plans 30 Gw solar power by FY25-end; aims to become self-reliant
• Alembic Pharma receives USFDA nod for Bromfenac Ophthalmic Solution
• Reliance Retail plans to launch sports format to compete with Decathlon
• Crisis-hit Paytm gets govt panel's nod to invest in payments arm
• Cognizant settles CFO lawsuit with Wipro; pays Rs 4 crore in settlement
• Financial inclusion index rises with growth across all segments, says RBI
• Tech Mahindra adopts Microsoft Co-pilot GenAI tool to 'modernise workplace'
• HDFC Ergo General Insurance processes its first claim on NHCX platform
• Honda sales on top gear; gap with Hero reduces to 45,000 units in June
• Stopped sale of 14 suspended products: Patanjali tells Supreme Court
• Govt may relax 45-day payment rule for MSMEs in Union Budget 2024
• Economic Times
• LIC Mutual Fund appoints Nikhil Rungta as Co-Chief Investment Officer–Equity
• L&T's semiconductor arm acquires Bengaluru-based SiliConch Systems
• India's defence exports soar to Rs 21,083 crore, SIDM reports
• ONGC to invest Rs 2 lakh cr to meet net zero emission target
• Skincare brand mCaffeine partners with GoKwik to boost D2C revenue
• Viacom18 gets the right to broadcast Ultimate Table Tennis
• Gopal's Sweets to invest Rs 150 crore to set up a manufacturing unit in Mohali Industrial Economic Zone
• Temasek expects India growth to remain firm over next 2 yrs, recovery in pvt consumption
• Gaming industry to grow to Rs 25,300 crore by end of 2024-25: report
• Tata Realty plans to triple its office space portfolio in 7 years
• Yes Bank stake sale report is factually incorrect, got no approval from RBI: Bank clarifies
• FY25 will see a 7-9 pc growth in two-wheeler sales, down from 9.8 pc in FY24
• Mint
• Inflows into equity funds rose 17% to ₹40,608 crore, SIPs hit ₹21,262 crore
• Moody's keeps India's 2024 economic growth forecast unchanged at 6.8%
• L&T bags order worth 2,500 crore from Hindustan Shipyard
• Domestic air passenger traffic up 6% YOY in June 2024: ICRA
• Microsoft mandates Apple iPhones for China employees to enhance security
• CPA orders Yatra to refund booking amounts affected by Covid lockdown
• SEBI committee proposes stricter measures to curb derivatives volume surge
• Kaka Group’s Social Initiative: 500 kWh Solar Power for Sustainable Operations
• Agritech firm AgroStar in talks to raise $40-50 mn to expand private labels
• Sberbank ready to renegotiate high transaction fee with Indian importers
• GM Breweries Q1FY25 results: Revenue up 3.8% at Rs 152.4 crore
• Xiaomi aims to double export of devices from India to 700 mn by 2034
• India Daybook – Stocks in News
• RVNL: Company emerges lowest bidder for a project worth ₹202.87 crore of South Eastern Railway. (Positive)
• Shilpa Medicare: Company unit's Raichur API facility in Karnataka clears GMP inspection conducted by Brazil regulatory agency (Positive)
• Infosys: Company in 5-year deal with Sector Alarm to develop financial and business operating models. (Positive)
• KDDL: Approval of Buyback through “Tender offer” route at Rs 3700/Sh (Positive)
• Waaree Renewable: Company secures 412.5 MW solar project in Rajasthan (Positive)
• KIMS: Company has executed a Share Purchase agreement to acquire 100% Equity Stake in Chalasani Hospitals private Limited (Positive)
• Ascensive Educare: Company entered into pacts with blue dart express, Delhivery, pact for recruitment and payroll management (Positive)
• Advait Infratech: Company wins order worth 73cr rupees (Positive)
• BPCL/IOC: Russia has offered the scheme reduction of transaction fees on the oil imports (Positive)
• BLS International: Acquired 100% stake in idata, turkey based visa and consular service provider by BLS International Holding Anonim Sirketi, Turkey. (Positive)
• RS Soft: Q1 Sl Net Profit 30m Rupees Vs 23m, Q1 Revenue 187m Rupees Vs 111m YoY (Positive)
• IGL/MGL/Gujarat Gas/ATGL: The Govt is likely to provide big relief to the City gas distribution companies in the budget. (Positive)
• Ashiana Housing: Company looks to expand to Mumbai, Delhi NCR, Bengaluru amid real estate boom (Positive)
• HG Infra: Company and Ultra Vibrant Solar Energy ink deal for projects worth Rs 465 crore. (Positive)
• Adani Power: Mahan Energen, in 20-year power purchase agreement for 500 MW with Reliance Industries. (Positive)
• Adani Ports: Company get LoI for developing and operating Berth No. 13 at Deendayal Port in Gujarat with a concession period of 30 years. (Positive)
• Havells: Company is planning expansion of manufacturing capacity of cables at Alwar plant. (Positive)
• ONGC: Company to invest ₹2 lakh crore to meet net zero emission target. (Neutral)
• Wipro: Cognizant Technology says that CFO Jatin Dalal has resolved lawsuit with Wipro. (Neutral)
• JSW Steel: Company consolidated production at 6.35 million tons, down 1% year-on-year. (Neutral)
• Varun beverages: Company issued a $27.5 million corporate guarantee for its subsidiary varun beverages international DMCC, valid until June 30, 2027, in favor of ICICI bank's DIFC branch in Dubai. (Neutral)
• Parag Milk: Company executed first amendment agreement to FCCB subscription agreement with IFC, revision in conversion price of FCCBS from 145 rupees to 135 rupees per share (Neutral)
• RMC Switchgears: Company wins order worth 4.76cr rupees (Neutral)
• Mahindra & Mahindra: Company cuts prices of top-end variants of XUV7OO SUV by almost Rs 1 lakh. (Neutral)
• IRM Energy: Karan Kaushal resigns as CEO of Company effective July 31. (Neutral)
• Delhivery: Cananda Pension Plan Investment Board likely to sell 3.17% equity of Delhivery via block deal. (Neutral)
• Mankind Pharma: Capital Group affiliate, Hema CIPEF to sell 0.9% stake of Mankind Pharma via block deal. (Neutral)
• Bank of Baroda: Hikes lending rates by 5 bps on most of tenures from July 12 (Neutral)
• M&M: Mahindra Group reduces the price of its top XUV700 model to ₹19.49 lakh ex-showroom (Neutral)
• Reliance: Company introduced the successor to last year's JioTag, called the JioTag Air. (Neutral)
• Marathon Nextgen: Company's pre-sales area at 79,239 square feet, down 45% year-on-year. (Negative)
• Delta Corp: Net profit at Rs 21.7 crore versus Rs 67.9 crore, EBITDA margin 17.35% VS 37.07% YoY. (Negative)
• IRM ENERGY; Co inform that Mr. Karan Kaushal
• has tendered his resignation from the position of Chief Executive Officer (CEO) (Key Managerial Personnel) of the Company to pursue more challenging and creative opportunities and he will be relieved from the services of the Company with effect from close of business hours on July 31, 2024.
• ADANI PORTS : Company has received a LOI for development, operation and maintenance of Berth No. 13 at Deendayal Port. The Company has been awarded this LOI for a 30-year concession period through a competitive bidding process.
• The Company will operate the berth under DBFOT (Design, Build, Finance, Operate and Transfer) basis for multipurpose clean cargo, including container cargo.
• Berth No. 13 is 300m long and offers 5.7 MMT capacity annually.
• The berth is likely to be commissioned during FY2026-27.
• DELTA CORP Q1FY25 CONS
• NET PROFIT 217M RUPEES VS 679M (YOY)
• REVENUE 1.8B RUPEES VS 2.6B (YOY)
• EBITDA 314M RUPEES VS 960M (YOY)
• EBITDA MARGIN 17.35% VS 37.07% (YOY)
• POOR SHOW
• DELTA CORP Q1 SEGMENT WISE
• GROSS REVENUE
• CASINO REVENUE DOWN 25 % TO 170 CR (YOY(, DOWN 2 % (QOQ)
• ONLINE GAMING REVENUE FLAT AT 36.5 CR (YOY(, UP 4 % (QOQ)
• HOSPITALITY REVENUE DOWN 17 % TO 12.35 CR (YOY(, DOWN 9 % (QOQ)
• SEGMENT WISE PROFIT
• CASINO PROFIT DOWN 62 % TO 34.4 CR (YOY,), DOWN 3 % (QOQ)
• ONLINE GAMING LOSS AT 18.25 CR V 8.61 CR (YOY(, 8.18 CR LOSS QOQ)
• HOSPITALITY PROFIT OF 1.3 CR V 2.03 CR LOSS (YOY)
• FERTILIZERS: India And Russia agreed to continue cooperation on the sustainable supply of fertilizers to India on the basis of company to company long-term contracts within the framework of Joint India-Russia Committee on Fertilizers.
• UBS on Maruti
• Buy, tgt 14000
• Move will reduce prices of strong hybrid cars by c10%, reducing the breakeven to below 2k kms /month for Maruti Grand Vitara (strong hybrid vs ICE) and also undercut competing ICE models. UP accounts for 10% of India's car sales.
• 1. Lloyds Metals and Energy Ltd. (LMEL), one of the largest iron ore miners by volume in India, has successfully raised ₹1,218 crores through a Qualified Institutional Placement (QIP).
• 2. The company allotted 1.75 crore shares via the QIP.
• 3. JM Financial Limited acted as the sole Book-Running Lead Manager for the QIP.
• 4. The QIP attracted interest from a diverse range of investors, including long-only funds, mutual funds, insurance companies, and other key stakeholders.
• 5. This diverse investor interest reflects confidence in LMEL's vision and growth potential.
• Stocks in News post Market closure