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 02, 2024

• The Crazy Cycle of Stock Market :
• Bull market creates stupid investors
• Stupid investors create bear market
• Bear market creates smart investors
• Smart investors create bull market
• And the Cycle Repeats itself
• India Daybook – Stocks in News
• DCX Systems: Company gets order worth Rs 1,250 crore for electric modules from L&T. (Positive)
• IOL Chemicals: Company gets China’s Drug Regulatory Authority NMPA nod for ‘Fenofibrate’, allowing the company to export it into China market. (Positive)
• Gandhar Oil: Company wins order worth 375 cr rupees or 45m USD (Positive)
• JSW Energy: Company’s subsidiary enters into power purchase agreement with SJVN for 700-megawatt solar project. (Positive)
• CAMS: Company collaborates with Google Cloud to Build Cloud Native Platform to transform its asset management business services (Positive)
• BLS International: Company's unit gets Turkish Regulatory Authority's nod for acquisition of iData. (Positive)
• Coal India: Company’s coal production rose 8% to 189.3 million tons in Q1FY2025. (Positive)
• Sakuma Exports: Company approved issue of bonus shares in 4:1 ratio, company also approved raising of funds by QIP for an amount up to 500 cr rupees. (Positive)
• Genus Power: Company’s unit entered into agreement to buy 30% stake in Maharashtra Akola Amravati smart metering. (Positive)
• Pennar Industries: Company to set up PEB manufacturing plant in Raebareli in Q2. (Positive)
• Waaree Energies: Company Bags Order To Supply 900 MW Solar Modules. (Positive)
• Deepak Fertilizers: Company gets NCLT nod for scheme of arrangement between Mahahdhan Agri Tech, Deepak Mining Solutions and Mahadhan Farm Technologies (Positive)
• Shera Energy: Company has surpassed sales of Rs. 110.37 crores on a consolidated monthly basis (Positive)
• APL Apollo: Company achieves Highest Record Sales Volume In Q1 Of 7,21,064 Tons Vs 6,61,501 Tons YoY (Positive)
• KPI Green Energy: Company received of CEIG (Charging) approvals for 13.60 MW Solar Power Projects under IPP Segment. (Positive)
• South Indian Bank: Gross advances up 11.4% at Rs 82,510 crore year-on-year in Q1FY25. (Positive)
• CSB Bank: Gross advances up 17.8% at Rs 25,099 crore year-on-year in Q1FY25. (Positive)
• Hero Motocorp: Total Sales at 5.03 Lk Units Vs Estimate Of 4.87 Lk Units (Positive)
• Welspun Specialty Solutions: Company gets contract worth ₹117.17 Cr for supply of seamless stainless steel boiler tubes (Positive)
• Nazara Tech: TIMF Holdings bought 12 lakh shares in Company at Rs 872 per share. (Positive)
• Narayana Hrudayalaya: Narayana Health introduced its first health insurance product, ‘Aditi’ on July 1. (Positive)
• Oil upstream stocks: Indian govt doubles windfall tax on crude oil to ₹6,000 per tonne from ₹3,250, effective July 2 (Neutral)
• Tata Steel: Bhubaneshwar Power stands dissolved without being wound up (Neutral)
• Carysil: Company opens QIP, sets floor price at ₹837.89/sh (Neutral)
• Patanjali Foods: Company to acquire entire non-food business undertaking from Patanjali Ayurved For ₹1,100 cr (Neutral)
• TVS Motors: Total Auto Sales at 3.34 lk units vs estimates of 3.53 lk Units. (Positive)
• NMDC: Company cuts iron ore lump prices by ₹500 to ₹5,950/tonne from ₹6,450/tonne. (Neutral)
• Tata Motors: June Total Sales 71,147 Units Vs 80,300 Units YoY (Neutral)
• ICICI Bank: Mr. Pradeep Kumar Sinha is the Non-Executive Part-time Chairman of the Bank as Mr. Girish Chandra Chaturvedi to retire from 30th June. (Neutral)
• Zomato: Company faces Rs 9.45 crore GST demand from Karnataka tax authorities. (Neutral)
• Ircon International: Hari Mohan Gupta assumes charge as CMD of the Company effective from 1st- July- 2024. (Neutral)
• Neuland Lab: Company has transferred a part of property situated at Hyderabad by way of perpetual lease, for a consideration of Rs. 31.50 cr. (Neutral)
• NBCC (India): Company Says B K Sokhey Ceased To Be CFO. (Neutral)
• JK Cement: Sumnesh Khandelwal resigns as deputy CFO of Company, effective July 1 (Neutral)
• Zomato: Company gets GST demand of Rs 9.5 crore. (Neutral)
• Zydus Life: Company’s unit income tax demand of Rs 285 crore rectified to Rs 1.1 lakh by Central Processing Centre. (Neutral)
• Lupin: Company Completes Transfer of Trade Generics Business to Unit Lupin Life Sciences. (Neutral)
• Laxmi Organics: Tanushree Bagrodia resigns as CFO effective September 2. (Neutral)
• Indian Bank: Revises 1-yr MCLR rate to 8.95% from 8.9%, effective July 3 (Neutral)
• CDSL: Board meeting today to consider Bonus issue of shares. (Neutral)
• Bajaj Consumer: Ex date for Buyback of shares, buyback price Rs 290/Sh. (Neutral)
• Oil India: Ex date for Bonus issue of shares 1:2. (Neutral)
• ISMT: Company completes installation of 35 MW DC capacity solar plant worth Rs 138 crore at Maharashtra. (Neutral)
• JTL Industries: Company' sales volume up 10.8% at 85,674 MT in Q1FY25. (Neutral)
• Eicher Motors: Total motorcycle sales down 5% at 73,141 units year-on-year in June. (Neutral)
• ITC: ITC Hotels announced its foray into West Bengal with the opening of Storii Devasom Resort & Spa, Kolkata. (Neutral)
• UBS on PVR Inox
• Maintain Buy Call, Target Cut To Rs 1,800 From 2,075
• ‘Kalki 2898 AD’ Alone Isn't Enough, A Difficult H1FY25 Likely
• ‘Kalki’ Not Enough To Help Co Deliver Positive EBITDA In Q1
• 2/3 Of Collections Are Made In Regional Language, PVR Has Low Presence
• A Lot Of Hopes Now Underpin On H2FY25
• See Reluctance Among Consumers To Watch Movies In A Theatre
• Expect Stock To Remain Range Bound In The Near Term
• GS on IndiGo
• Maintain Buy Call, Target Raised To Rs 4,700
• Near-term Cost Pressures, But Long-term Story Intact
• Cost Pressures & Flattish Yields May Limit Profitability Improvement
• Spreads To Improve As International Mix Improves Over Next 3-5 Years
• CLSA on Marico
• Maintain Underperform call, Target Rs 460
• Key Factor Driving Negative View Is Rising Competition In Urban India For Its Oil Portfolio
• Retailers’ Private/Exclusive Brands Undercutting Marico Brands
• Other National/Niche Brands Taking Up Price Points Above Marico’s
• Believe Company’s Headroom For Growth Is Narrower Than Before
• We Also See Increased Competition In Oats
• Jefferies on ICICI Lombard
• Buy Call, Target Rs 2,090
• Its New Product ‘Elevate’ Can Help It Leap Forward In Retail-health
• In Retail-health It has Only 3% Share Vs 9% Overall
• It Offers Unlimited Sum-insured, Personalisation Options
• Retail-health Can Do Well With Agents, eComm Partners & Customers
• Underwriting Is Key & Co’s Track-record Offers Comfort
• Raise Estimates A Bit & Co Stays Among Top Picks
• MS on Autos
• Retail Sales Remained Weak During The Month
• 2-Ws Outperformed Other Segments
• Rising PV Discount Is A Key To Monitor
• Electric 2-W Penetration Continued To Improve While
• Electric PV Sales Were Hit By Weak Fleet Demand
• M&M & Bajaj Auto Remain Our Preferred Picks
• Nomura on Autos
• Volumes Below Our Estimate For Ashok Leyland, TVS & Tata Motors
• M&M’s Tractor Volumes Covered Up For Weaker SUV Sales
• Bajaj Auto’s & Maruti’s Wholesales Ahead Partly Driven By Higher Exports
• Small Cars Unlikely To See Significant Revival & SUVs Will Continue To Gain Share
• Motilal Oswal on IT
• Expect Revenues Of IT Services Companies To Recover Following A Tepid Q4
• Ramp-up Of Large Cost-takeout Deals Could Drive Growth For Large Caps
• Brutal Winter Of Discretionary Spend Cuts In The Industry Is Likely Over
• There Is Little Evidence Of A Recovery In The Flow Business
• We Are On Track For One Of The Weakest First Quarters For At Least 10 Years
• Would Be Looking For Signs Of Recovery In Discretionary Spending
• Any Disappointment In Q1 Could Again Put Pressure On Q2
• Expect 5-7% YoY FY25 CC Rev Growth For HCL & TCS & Lower for Infosys
• Expect Revenue/EBIT/PAT To Grow By 3.2/5.2/6.1% For Our Coverage
• Nifty closed @24,141.9 (+131.3) and Sensex @79,476.2 (+443.5) on Monday GIFT Nifty was trading at 24,250 (as of 7:30 a.m)
• FIIs net sold equities in cash to the tune of Rs 426 cr whereas DIIs bought equities in cash worth Rs 3917 cr on July 1 2024
• SEBI asks exchanges to discontinue slab based fees to brokers
• Govt hikes windfall tax on crude petroleum to nearly two fold
• Promoter selling crosses $10 bn in the first six months of 2024 compared to $12.4 bn in all of 2024
• Patanjali Food to buy Patanjali Ayurved's home and personal care business for Rs 1,100 cr
• Tata Steel UK strike averted as union agrees to further talks
• Wockhardt soars to 6 year high on new drug success reports
• DCX systems received order worth Rs 1,250 cr from L&T
• SEBI approves IPO plans of FirstCry Unicommerce
• PLI push likely for parts makers of Vande Bharat
• Beauty firm Purpple raises Rs 1,000 cr in round led by ADIA
• Coal India output up 8% in Q1
• Vodafone UK may offer Rs 2,000 cr equity top up to Vi
• ITC plans to double exports of raw tobacco to BAT by next fiscal
• Union Bank gets bids for 5 out 25 NPAs put on the block
• Consumption of petrol up 4.2% in June
• Indian ADRs: Wipro (+1.5), Infosys (+0.7) and Dr Reddy’s (-1.0%)
• Govt hikes windfall tax on crude oil to Rs 6,000 per tonne from Rs 3,250
• The Indian government has raised the windfall tax on petroleum crude to 6,000 rupees ($71.91) per metric ton from 3,250 rupees, with effect from July 2, according to a notification issued on Monday
• UCO Bank Refutes Reports Of Government Merger Plans with Three PSU Banks
• The bank said all decisions relating to merger is under the purview of the government, which owns 95.39% stake.
• Basically Hindenburg Research is saying that Sebi is more focused on finding redflags and frauds in Hindenburg Short Positions and Structure rather than Adani
• Stocks in News post Market closure