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 08, 2024

• Capital Market GROWTH of India
• Share Bazar SENSEX Double in 5 Years
• May 2019 SENSEX 40,000
• July 2024 SENSEX 80,000
• May 2019 Demat Accounts 3.6 crores
• July 2024 Demat Accounts 15.1 Crores
• Monthly Mutual Fund SIP Investment
• May 2019 ₹ 8,183 crores
• July 2024 ₹ 20,904 crores
• Kirit Somaiya
• News Headlines from Business News Agencies:
• Business Standard
• Union Budget 2024: FM Nirmala Sitharaman set to present Budget on July 23
• FY24 defence production grows 17% to record high of Rs 1.27 trillion
• LIC pares stake in top conglomerates in FY24; value up to Rs 4.39 trillion
• India plans geological mapping and mineral exploration in Zambia
• HDFC Bank mulling loan portfolio sale amid growth scrutiny: Report
• Indian pharma firms seek govt tax reliefs, incentives to spur innovation
• Top line can grow to Rs 2.5 trn in 5-10 yrs if executed well: Zepto CEO
• Coforge buys 17% stake in Cigniti Technologies for Rs 645 cr via block deal
• FMCG sector to see 7-9% revenue growth this fiscal: CRISIL Ratings
• Drone deliveries to revolutionise quick commerce in urban areas by 2027
• Time needed to achieve 2% inflation target: NY Fed's John Williams
• Foxconn Q2 revenue beats market forecast on high AI server demand
• Sebi issues guidelines to streamline operations of credit rating agencies
• Economic Times
• Signature Global reports Rs 3,120 crore pre sales in Q1 FY25 with 255% YoY growth
• India, UK to hold next round of talks on proposed trade agreement this month
• Truck aggregator BlackBuck files for IPO, to raise Rs 550 crore
• BoB loan book grows 8% in Q1; IndusInd's net advances up 16%
• TRAI may offer some leeway on service quality rules to telcos
• ONGC Videsh to raise USD 800 million from 3 banks
• Oil settles 1% lower as Mideast ceasefire talks ease supply disruption concerns
• Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity shares
• UPI usage surges in India on the back of small businesses
• India will fail to plug jobs gap even with 7% growth, says Citi
• Zepto is hyperlocal Walmart of India, will focus on top 40 cities: CEO Aadit Palicha
• At $4.2 billion, Q2 2024 IPO size records its highest growth in 2 years
• FPIs start July as net buyers of Indian equities, invest Rs 7,962 crore in opening week
• Mint
• Nykaa Q1 update: Revenue growth likely at 22-23% YoY, GVM growth to be lower
• NLC India emerges as successful bidder for Machhakata Coal Mine in Odisha.
• LIC-owned Integra Essentia approves amalgamation of GG Engineering
• Big banks are taking hits from commercial real estate
• Sovereign funds flock to India with mega moneybags even as FIIs, PEs remain wary
• Bhavish Aggarwal launches Ola Maps as alternative to Google Maps
• RBI imposes penalty on 5 banks for regulatory non-compliance: Report
• Dabur sees improvement in demand, rural growth in Q1FY25
• Bhavish Aggarwal launches Ola Maps as alternative to Google Maps
• European academy aims to ramp up pilot training in India
• CignitiTechnologies appoints Pankaj Khanna as executive director for 2 years.
• Nifty closed @24,323.85 (+21.70) and Sensex @79,996.60 (-53.07) on Friday GIFT Nifty was trading at 24383 (as of 7:30 am)
• FIIs net bought equities in cash to the tune of Rs 1,241 cr whereas DIIs sold equities in cash worth Rs 1,651 cr on July 05 2024
• Union budget 2024 on July 23
• Hindenburg shared draft report with client two months before publishing SEBI
• Nykaa expects consolidated revenue to increase 22-23% in Apr-Jun quarter
• Bandhan Bank appoints its executive director Ratan Kumar Kesh as interim head for 3 months
• DTH companies lose over 3 million users in FY 24
• Signature Global Q1 update Sales bookings jump 3.5 times to Rs 3,120 cr
• Apollo Hospitals to acquire Rs 103.2 crore stake in subsidiary Apollo Health
• Sony buys India TV rights for the American T20 competition Major League Cricket (MLC)
• PC Jewellers gets PNB approval for one time settlement of dues
• Electric car volumes plunge 14% YoY in June
• Adani Wilmar reports 13% volume growth in June quarter
• Coforge buys additional stake in Cigniti Technologies worth Rs 645 crore
• Emcure Pharma IPO oversubscribed 67.8 times on day 3
• Future group's FMCG arm FCL defaults on payments of Rs 449.0 cr till June end
• JSW Energy plans Rs 15,000 crore capital expenditure for FY25
• Royal Challengers Banglore cricket franchise contributes about 16% of USL’s Rs 1.312 cr. PAT in FY24 as revenues surge
• HDFC Capital Advisors draws up dollar 2 bn funding plan for affordable housing
• Indian ADRs: Dr Reddy’s (+2.6%), ICICI Bank (+1.3%) and HDFC Bank (-7.1%)
• UBS on Bajaj Auto
• Sell Call, Target Rs 6,250
• Co Launches 125cc CNG Motorcycle At Rs 95-1,10,000
• Continue To Believe Future Is EV
• CNG Motorcycles Won't Impact The Electrification Pace Of The Market
• 100- 110cc Motorcycle & Entry Level 125cc Motorcycles Will Be Impacted Over Medium-term
• Analysis Indicate Hero Has A Market Share Of 66% In This Segment
• MS on Marico
• Equal-Weight Call, Target Rs 566
• Co’s Q1 Performance Was Broadly In-line With Our Estimates
• Co’s Demand Trends Continued Gradual Improvement
• Management Expects Revenue Growth To Improve, Led By Domestic Volume Growth
• Revenue Growth To Improve Led By Higher Realisations
• MS on Bk Of Baroda
• Equal-Weight Call, Target Rs 280
• Domestic Loans Declined By 2% QoQ In Q1 Biz Update (Vs 4.2% QoQ)
• Domestic Loans Declined Mainly Due To Non-retail Loans, Down 3.5% Vs +4%
• Domestic Retail Was Healthy, At 3.6% Vs 5.5%
• Overseas Book Was Down 1% Vs +2.7% Last Quarter
• Domestic Deposits Declined, Down 2% Vs +5.7% QoQ
• Domestic LDR Was Steady QoQ
• MS on Reliance Ind
• Overweight Call, Target Rs 3,540
• It's All About Gross Refining Margin In Upcoming Earnings
• View Co As A Play On Monetisation 4.0 Cycle
• Refining Upcycle View Remains Intact Despite Decline Last Quarter
• Business Cycles Across Verticals For Rest Of 2024- New Energy, Refining, Chemicals
• Business Cycles Across Verticals For Rest Of 2024- Telecom, Imply Re-rating
• Net Debt And Slower Capex Intensity Should Support Valuation In FY25
• UBS on Info Edge
• Neutral Call, Target Rs 6,055
• Co Reports Billing Growth Of 11% YoY In Q1FY25, With Improvement In Naukri Billing
• 9% YoY Growth In Naukri's Billing Is The Highest Growth In 5 Quarters
• Improvement In Naukri Billing On A Low Base (Q1FY24 Was Down 4% YoY)
• Underlying Hiring Trends Remain Weak
• YoY Improvement In Billing Suggests A Potential Pick Up In Hiring
• JPM on Titan
• Downgrade to Neutral, TP Rs 3450
• After 8 quarters of being in-line or better, jewellery revenue growth at 9% in Q1FY25 was below already lowered expectations
• Lower FY25-27E EPS by 5-6%
• CLSA on Titan
• O-P, TP Rs 4045
• Standalone sales growth of 9% YoY, below estimate of 11%.
• Jewellery growth of 9% also missed forecast of 11%
• Believe any correction in rare soft results should be seen as an opportunity to accumulate
• GS on Titan
• Buy, TP Rs 3700
• 1QFY25 revenue update was disappointing
• Jewellery slowdown much sharper than expected
• Titan’s key competitor did much better in 1Q, which is a cause for concern
• Titan’s jewellery margins also likely to be weak
• MS on Titan
• EW, TP Rs 3526
• Top-line Growth Miss, Low-single-digit Buyer Growth
• Reported top-line growth below est, mainly led by 8% growth in jewellery biz (we'd expected +20%)
• Given this backdrop, 1Q jewellery margins are likely to disappoint vs. 11% est
• UBS on Bandhan BK
• Neutral, TP Rs 230
• Board approved appointment of Ratan Kumar Kesh as Interim MD&CEO (joined as COO in March'23)
• He takes charge on 10 July for a period of 3 months or until a new MD&CEO is appointed, whichever is earlier
• Macquarie on Tata Motors
• O-P, TP Rs 1171
• JLR: Product mix surprises +vely; bodes well for margins
• JPM on Tata Motors
• OW, TP Rs 1115
• (JLR) 1QFY25 wholesales (ex-China JV) at 97.8K (+5% YoY)
• Overall retails (111K) grew 9% YoY & ex-China JV retail growth was 15% YoY
• INVESTEC INITIATES COVERAGE ON POWER UTILITIES & EPC PLAYERS
• NHPC - Buy, TP Rs124
• Inox Wind - Buy, TP Rs176
• Kalpataru Power - BUy, TP Rs Rs1473
• KEC International - Buy, TP Rs1002
• JSW Energy - Hold, TP Rs 687
• News Headlines from Business News Agencies:
• Business Standard
• Union Budget 2024: FM Nirmala Sitharaman set to present Budget on July 23
• FY24 defence production grows 17% to record high of Rs 1.27 trillion
• LIC pares stake in top conglomerates in FY24; value up to Rs 4.39 trillion
• India plans geological mapping and mineral exploration in Zambia
• HDFC Bank mulling loan portfolio sale amid growth scrutiny: Report
• Indian pharma firms seek govt tax reliefs, incentives to spur innovation
• Top line can grow to Rs 2.5 trn in 5-10 yrs if executed well: Zepto CEO
• Coforge buys 17% stake in Cigniti Technologies for Rs 645 cr via block deal
• FMCG sector to see 7-9% revenue growth this fiscal: CRISIL Ratings
• Drone deliveries to revolutionise quick commerce in urban areas by 2027
• Time needed to achieve 2% inflation target: NY Fed's John Williams
• Foxconn Q2 revenue beats market forecast on high AI server demand
• Sebi issues guidelines to streamline operations of credit rating agencies
• Economic Times
• Signature Global reports Rs 3,120 crore pre sales in Q1 FY25 with 255% YoY growth
• India, UK to hold next round of talks on proposed trade agreement this month
• Truck aggregator BlackBuck files for IPO, to raise Rs 550 crore
• BoB loan book grows 8% in Q1; IndusInd's net advances up 16%
• TRAI may offer some leeway on service quality rules to telcos
• ONGC Videsh to raise USD 800 million from 3 banks
• Oil settles 1% lower as Mideast ceasefire talks ease supply disruption concerns
• Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity shares
• UPI usage surges in India on the back of small businesses
• India will fail to plug jobs gap even with 7% growth, says Citi
• Zepto is hyperlocal Walmart of India, will focus on top 40 cities: CEO Aadit Palicha
• At $4.2 billion, Q2 2024 IPO size records its highest growth in 2 years
• FPIs start July as net buyers of Indian equities, invest Rs 7,962 crore in opening week
• Mint
• Nykaa Q1 update: Revenue growth likely at 22-23% YoY, GVM growth to be lower
• NLC India emerges as successful bidder for Machhakata Coal Mine in Odisha.
• LIC-owned Integra Essentia approves amalgamation of GG Engineering
• Big banks are taking hits from commercial real estate
• Sovereign funds flock to India with mega moneybags even as FIIs, PEs remain wary
• Bhavish Aggarwal launches Ola Maps as alternative to Google Maps
• RBI imposes penalty on 5 banks for regulatory non-compliance: Report
• Dabur sees improvement in demand, rural growth in Q1FY25
• Bhavish Aggarwal launches Ola Maps as alternative to Google Maps
• European academy aims to ramp up pilot training in India
• CignitiTechnologies appoints Pankaj Khanna as executive director for 2 years.