The S&P BSE Sensex rose as much as 231 points to touch 52,715.44 in the first few minutes of trade, and the broader NSE Nifty50 benchmark climbed to 15,796.40, up 74 points from its previous close. Eicher Motor was the top Nifty50 gainer in early deals, up 1.1 per cent. Adani Ports, Bajaj Auto, Hindalco and BPCL were among other blue-chip top performers. On the other hand, Infosys was the top laggard, down 0.08 per cent. Tech Mahindra was among other losers.. All eyes are on India Pesticides listing today.
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Panacea Biotec trading 5% up on BSE after the company received manufacturing license from Drugs Controller General (India) (DCGI) for Sputnik V vaccine.
Price as on 05 Jul, 2021 12:55 PM, Click on company names for their live prices.
Nagarjuna Fertilizers and Chemicals is trading 2.7% down. The chemical producer reported a consolidated net loss of Rs 218.99 crore for the quarter ending March. Its net loss stood at Rs 134.15 crore in the January-March quarter of the previous financial year.
Price as on 05 Jul, 2021 12:53 PM, Click on company names for their live prices.
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Indostar Capital Finance trading almost flat. The NBFC has acquired a 25 crore share in its home finance subsidiary for Rs 250 crore, the company said. The company has acquired 25 crore fully paid equity shares of Rs 10 each aggregating to Rs 250 crore of IndoStar Home Finance, a fast-growing wholly-owned subsidiary of the company.
Price as on 05 Jul, 2021 12:52 PM, Click on company names for their live prices.
Tata Consumer trading with a positive bias. The Tata Groups FMCG arms will work “very closely” with BigBasket, an e-Commerce platform that was recently acquired by the Tata Group, to drive win-win synergies in terms of costs and topline, according to the company’s managing director and CEO, Sunil D’Souza.
Price as on 05 Jul, 2021 12:50 PM, Click on company names for their live prices.
Vedanta proposes IPO for Sterlite Power, grey market super-excited
Anil Agarwal-led Vedanta Group is planning to float an initial public offering (IPO) for its power arm Sterlite Power Transmission by the end of 2021. The company has sent a postal ballot notice to its shareholders for the same. ET has seen a copy of this notice, stating that the group will consider and if thought fit, will pass with or without modifications, the IPO plans as a special resolution. Anil Agarwal-led Vedanta Group is planning to float an initial public offering (IPO) for its power arm Sterlite Power Transmission by the end of 2021. The company has sent a postal ballot notice to its shareholders for the same. ET has seen a copy of this notice, stating that the group will consider and if thought fit, will pass with or without modifications, the IPO plans as a special resolution. The company’s plan has made Sterlite Power the latest sensation in the grey market – the unofficial market for unlisted shares.
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After opening up, Nifty IT a mixed bag
Price as on 05 Jul, 2021 12:41 PM, Click on company names for their live prices.
Analysts see GR Infra IPO as a good opportunity to make money
The initial public offering (IPO) of GR Infraprojects opens for subscription on Wednesday, with the promoters aiming to raise Rs 963 crore from the primary market. Most analysts have ‘subscribe’ rating on the issue, as they believe the shares are being offered at comparatively cheaper valuations. In the grey market – the unofficial market for unlisted shares — GR Infra shares are trading at a Rs 343-348 premium per share, said Dinesh Gupta, Founder of UnlistedZone, a dealer in unlisted shares. This translates into a 42 per cent premium over the IPO price band.
The list includes stocks like Kotak Mahindra Bank, Hero MotoCorp, HDFC, ITC and Maruti Suzuki. Kotak is down 14 per cent year to date, Hero MotoCorp has fallen 6 per cent, HDFC 4 per cent, ITC 3 per cent while Maruti Suzuki 1 per cent. Nifty50 is up 12 per cent for this period.
NTPC is trading in green. The state-run power giant has invited Expression of Interest (EOI) for sale of fly ash from the designated ports of the Middle East and other regions in its endeavour towards 100 per cent utilisation of fly ash.
Price as on 05 Jul, 2021 12:24 PM, Click on company names for their live prices.
Cadilla Healthcare trading in green. The USFDA report of Viona Pharmaceuticals recalling over 21,000 bottles of metformin hydrochloride extended-release tablets manufactured by Ahmedabad-based Cadila Healthcare, didn’t seem to impact the stock.
Price as on 05 Jul, 2021 12:12 PM, Click on company names for their live prices.
Shares of Yes Bank were trading flat after the private lender provided the update on its performance for the quarter ended on June 30, 2021, in a regulatory filing.
Price as on 05 Jul, 2021 12:03 PM, Click on company names for their live prices.
Top NSE gainers at 11.30 AM
Vi puts prime assets on fire sale
Vodafone Idea is hoping to raise up to $1 billion (around Rs 7,400 crore) from sale of its fixed line broadband subsidiary, optic fibre unit and data centres business, as it seeks to ease its cash crunch and generate funds to meet upcoming liabilities. The telco needs to pay Rs 22,500 crore between December 2021 and April 2022 toward a mix of regular debt, adjusted gross revenue and spectrum dues. Its cash balance stood at Rs 350 crore on March 31 and loss was Rs 6,985.1 crore for the March quarter.
Radhakishan Damani’s DMart rises on Q1 biz update, but analysts are unimpressed. They have largely a ‘neutral’ to ‘sell’ rating on the stock post the business update.
Price as on 05 Jul, 2021 11:39 AM, Click on company names for their live prices.
BSE top gainers at 11 AM
Dixon Technologies stock is up 1.5%. The leading electronic goods contract manufacturer said it has received approval for IT hardware manufacturing under the government’s PLI scheme. It is amongst the 14 companies domestic and international, which has been granted approval for IT hardware manufacturing under PLI Scheme for IT hardware products.
Price as on 05 Jul, 2021 11:14 AM, Click on company names for their live prices.
The reduction in size means Info Edge is confident of the company’s future and wants to hold more of the company that it had acquired cheaply. Many analysts and foreign investors are also sounding gung-ho over the issue.
ONGC trading in green. The state-owned firm said it would procure equipment and services worth over Rs 30,000 crore to support its oil and gas exploration and production operations, which will provide local entities business and support ‘Aatmanirbhar Bharat’ initiative.
Price as on 05 Jul, 2021 11:07 AM, Click on company names for their live prices.
Tata Steel, SAIL, JSPL gain among metal stocks
Price as on 05 Jul, 2021 11:02 AM, Click on company names for their live prices.
Youngest Ambani takes seat on boards of RIL’s 2 new solar cos
Anant Ambani, the younger son of Reliance Industries (RIL) chairman Mukesh Ambani, has been appointed as a director of Reliance New Energy Solar and Reliance New Solar Energy, expanding his role in the family business. The two entities were incorporated a little over a fortnight before RIL NSE 0.96 % unveiled its green energy plans at its annual shareholder meet on June 24.
June services activity shrinks at fastest rate in 11 months
India’s dominant services sector contracted sharply in June as tighter restrictions to contain a resurgence of coronavirus cases hammered demand and forced firms to shed jobs at a rapid clip, a private survey showed on Monday. Asia’s third largest economy, which has already recorded more than 400,000 COVID-19 deaths, is still reporting over 40,000 coronavirus cases per day, taking the total number of infections to over 30.5 million. IHS Markit’s Services Purchasing Managers’ Index plunged to 41.2 last month from an already depressed 46.4 in May.
HFCL shares gained as much as 16 per cent in early trade on Monday ahead of its board meeting, after the company set up a second open wifi-powered village in Karnataka.
Price as on 05 Jul, 2021 10:34 AM, Click on company names for their live prices.
BSE realty index up 1.62%, all stocks trading in green
Price as on 05 Jul, 2021 10:30 AM, Click on company names for their live prices.
RBI determined to keep rates under check
The Reserve Bank of India (RBI) has either cancelled weekly auctions of government securities (G-Secs) or had them devolved on bond houses to the tune of a record Rs 116,008 crore in this financial year, demonstrating its determined efforts to keep funding rates under check. This could well pave the way for the government to borrow record high sums this year as North Block gears up to spur growth after two Covid waves.
Intraday pick from Reliance Securities
Sell IGL (Previous Close: 564) . For today’s trade, short position can be initiated in the range of Rs 572- 575 for the target of Rs.555 with a strict stop loss of Rs 580.
Vodafone Idea has been trading almost 2% down. The Telecom watchdog in a letter to telecom minister has sought rejection of the debt-ridden company’s request seeking more time to pay dues of Rs 8,292 crore. It said Vodafone Idea can raise funds through equity sale or promoters can infuse capital which can be used for clearing dues, non-profit entity
Price as on 05 Jul, 2021 10:22 AM, Click on company names for their live prices.
Broader market indices outperforming headline peers
Broader market indices trading higher, outperforming headline peers in morning trade. Nifty Smallcap was up 0.71 per cent while Nifty Midcap advanced 0.45 per cent. Broadest index on NSE, Nifty 500 was up 0.57 per cent. Crompton Greaves, Tata Power, Alembic Pharma, Route Mobile, Affle India and IOL Chemicals were gainers from the space while Sterling Wilson, CSB Bank, Kajaria Ceramics, Adani Total Gas, ICICI Securities and Voda Idea were under selling pressure.
D-Street Debut: India Pesticides lists at 22% premium over issue price
Dr Reddy’s was the only Sensex 30 stock to open in red. The drug major expects its business growth to be “volatile” in the current fiscal as the coronavirus pandemic continues to bring in disruptions and impact the markets across the globe.
Price as on 05 Jul, 2021 09:57 AM, Click on company names for their live prices.
HDFC trading in the green in early trade. The country’s largest mortgage lender said it earned Rs 263 crore as profit on sale of investments during the first quarter of the current financial year. Its profit on sale of investments during the June 2020 quarter had stood at Rs 1,241 crore.
Price as on 05 Jul, 2021 09:55 AM, Click on company names for their live prices.
Intraday pick from Reliance Securities
LUPIN (Previous close: 1,160) BUY For today’s trade, long position can be initiated in the range of Rs 1140- 1145 for the target of Rs.1185 with a strict stop loss of Rs 1130
Intraday pick from Reliance Securities
M&M (Previous close: 783) BUY. For today’s trade, long position can be initiated in the range of Rs 768- 775 for the target of Rs.799 with a strict stop loss of Rs 760.
Private Banks shine, lift indices higher
Price as on 05 Jul, 2021 09:49 AM, Click on company names for their live prices.
Buy or Sell: Stock ideas by experts for July 05, 2021
Sebi fines IL&FS Securities, Allied Finance, 3 others
Sebi has imposed penalties totalling more than Rs 32 crore on IL&FS Securities Services (ISSL), Allied Financial Services (AFSPL) and three individuals for lapses in connection with alleged fraudulent transfer of mutual fund units of three companies. Besides, the watchdog has passed various directions against them.
FPI outflows gather pace on oil, dollar worries
Foreign Portfolio Investors have been sellers in nine out of the 11 previous trading sessions since June 16 after the US dollar index firmed , when the US Fed signalled a rate hike could happen as early as 2023.. Their net outflow in this period was only over Rs 250 crore but that was on account of bulk deal inflows into select stocks on two days. But for these purchases, the FPI sales figures would have been much higher.
Stocks in focus: HDFC, Avenue Supermart, Cupid and more
29 out of 30 Sensex stocks open in the green; Dr Reddy’s in red
Fear gauge India VIX rises 2.89%
Opening Bell: Sensex rises 200 points, Nifty above 15,750; Bajaj Hind, HCC rise up to 5%
Pre-open session: Sensex rises 200 points, Nifty tops 15,800
Dollar pauses as rate hike fears ebb
The dollar took a breather on Monday after recent gains ran into a speed bump when details of last week’s US jobs report soothed jitters about the timing of US interest rate hikes. The US dollar index was flat at 92.334, having fallen about 0.3% to that level on Friday. It is up about 2% in three weeks since the Fed drove a jump in the greenback in June.
SGX Nifty signals a positive start
Nifty futures on Singapore Exchange traded 100 points, or 0.64 per cent, higher at 15,848, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty’s ‘Hammer’ hints at recovery ahead
Nifty50 snapped a four-day losing streak on Friday and formed a trend reversal ‘Hammer’ candle on the daily chart. Selling was seen in the support range between 15,650 and 15,600 range. On the weekly scale, the index formed a bearish candle and made a higher high-low formation. Analysts see recovery ahead
Hong Kong stocks open lower
Hong Kong stocks fell in the first few minutes of trade Monday morning with tech firms taking a hit after China’s cyber watchdog ordered ride-hailing service Didi be removed from app stores in the latest crackdown on the sector. The Hang Seng Index fell 0.75 percent, or 211.51 points, to 28,098.91.
Tokyo stocks open lower despite US gains
Tokyo stocks opened lower Monday with investors seeking new cues after a solid US jobs report lifted Wall Street shares to record highs last week. The Nikkei 225 index dropped 0.48 percent, or 137.06 points, to 28,646.22 in early trade. The broader Topix index slipped 0.42 percent, or 8.28 points, to 1,948.03.
US stocks ended higher on Friday
US stocks finished the week with a flourish Friday, with all three major indices at records after a solid jobs report that was not seen as accelerating a monetary policy shift. At the closing bell, the Dow Jones Industrial Average stood at 34,787.93, up 0.5 percent for its first all-time high since early May. The S&P500 index jumped 0.8 percent to end at 4,352.45 while the tech-rich Nasdaq Composite Index gained 0.8 percent to 14,639.33.
Rupee slides to 14-week low of 74.74 against dollar
The rupee declined by 19 paise to close at a 14-week low of 74.74 against the US currency on Friday as a firm dollar and expectations of further spike in crude oil prices weighed on investor sentiment. While the rupee depreciated for the fourth straight day on Friday, on weekly basis the rupee recorded losses for the fifth week on the trot as strong dollar bias and firm crude oil prices have weighed on the local unit.
Sensex, Nifty on Friday
Market gauges Sensex and Nifty broke their four-session losing run on Friday as emergence of buying in financial, pharma and IT stocks negated losses in metal counters. After a range-bound trading through the day, the BSE Sensex ended 166.07 points or 0.32 per cent higher at 52,484.67. Likewise, the broader NSE Nifty advanced 42.20 points or 0.27 per cent up at 15,722.20.