Indian Stock Market Soars: Sensex and Nifty Hit Record Highs Amid IT Sector Rally

Share Market Highlights July 16, 2024: Sensex, Nifty range-bound ahead of market holiday; BPCL, Coal India, LIC hold firm

Stock Market highlights | Share Market highlights - Find here the highlights s related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for July 16, 2024. ALL UPDATESJuly 16, 2024 16:14Stock Market Updates: Closing bell The 30-share BSE Sensex climbed 51.69 points or 0.06 per cent to settle at a new lifetime high of 80,716.55. During the day, it advanced 233.44 points or 0.28 per cent to hit a fresh record high of 80,898.30. The NSE Nifty went up by 26.30 points or 0.11 per cent to settle at an all-time closing high of 24,613. Intra-day, it rallied 74.55 points or 0.30 to hit a new record peak of 24,661.25. July 16, 2024 15:46Stock Market Live Updates: Vinod Nair, Head of Research, Geojit Financial Services gives a market update "The domestic market failed to uphold the opening gains as investor concerns about current valuations and subdued expectations for Q1FY25 earnings. With the earnings season set to fully commence this week, investors are likely to gain a broader sectoral perspective. Globally, the dovish comment from the FED chief on inflation trajectory and a drop in US 10yr yield ahead of US retail sales data increased the likelihood of a rate cut in September." July 16, 2024 15:44Stock Market Live Updates: Shrikant Chouhan, Head Equity Research, Kotak Securities gives a Market update Today, the benchmark indices registered a fresh all time high of 24661.25/80898.30. The Nifty ends 16 points higher while the Sensex was up by 44 points. Among Sectors, Reality index outperformed gained over 1.50 percent, whereas Media stocks witnessed some profit booking at higher levels. Technically, after an early morning intraday rally market witnessed some profit booking at higher levels. However, the short-term texture of the market is still positive. Currently the market witnessed narrow range activity at higher levels perhaps traders are waiting for either side breakout. For the bulls now, 24665/80900 would be the immediate breakout level. Above which, the market could rally up to 24750-24775/81200-81300. On the flip side, we could see one quick intraday correction if the index slip below 24550/80500. Below which, it could retest the level of 24500/80300. Further down side may also continue which could drag the market till 24425/80000. July 16, 2024 15:41Stock Market Live Updates: Major losers today Shriram Finance (-2.16%), Kotak (-1.99%), Dr Reddy's Laboratories (-1.55%), Reliance Industries (-1.44%), NTPC (-1.35%) July 16, 2024 15:40Stock Market Live Updates: Major gainers today Coal India (3.01%), BPCL (2.71%), Hindustan Unilever (2.44%), Tata Consumer Products (2.28%), Bharti Airtel (1.81%) July 16, 2024 15:38Stock Market Live Updates: BSE Sensex ended at 80,716.55, up by 51.69 pts or 0.06%, and Nifty 50 closed at 24,613.00, up by 26.30 pts or 0.11%. July 16, 2024 15:30Stock Market Live Updates: Shakti Pumps (India) Limited has received Letter of Award from Maharashtra Energy Department Agency (MEDA), stocks trade down Shakti Pumps (India) Limited has received Letter of Award from Maharashtra Energy Department Agency (MEDA) for 1,200 nos of Off-grid Solar Photovoltaic Water Pumping System (SPWPS) at various locations across the State of Maharashtra under Component-B of PM-KUSUM scheme. The total amount of the order value is for around ₹33.47 Crore. Shakti Pumps stock traded at ₹4,210 on the NSE, down by 0.07%. July 16, 2024 15:27Stock Market Live Updates: The Office of the Commissioner of Customs has imposed a penalty upon Suzlon Energy, stocks trade up The Office of the Commissioner of Customs has imposed a penalty upon Suzlon Energy. The order passed by the Commissioner of Customs imposes redemption fine of ₹2,00,00,000/- and a penalty of ₹2,28,50,048/- along with applicable interest, thus aggregating to ₹4,28,50,048/-. Suzlon Energy stock trades at ₹55.87 on the NSE, up 2.29%. July 16, 2024 15:15Stock Market Live Updates: Garden Reach Shipbuilders & Engineers Ltd has signed the contract with NCPOR, stocks trade up Garden Reach Shipbuilders & Engineers Ltd has signed the contract with NCPOR for the Construction and Delivery of Ocean Research Vessel {ORV), contract worth ₹840 crore. GRSE stock surges 3.01% on the NSE, trading at ₹2,571.30. July 16, 2024 15:10Stock market update: Major gainers and losers on the NSE as at 3 pm Major gainers on the NSE as at 3 pm: Coal India (3.32%), BPCL (2.83%), Hindustan Unilever (2.66%), Tata Consumer Products (2.59%), Bharti Airtel (2.02%) Major losers: Shriram Finance (-2.02%), Kotak (-1.99%), Dr Reddy's Laboratories (-1.46%), Ultratech Cement (-1.37%), Hindalco (-1.25%) July 16, 2024 15:09Stock market updates: BSE snapshot Stocks advanced on BSE at 3 pm on July 16, 2024, were 2,007 against 1,868 stocks that declined; 107 stocks remain unchanged. Total stocks traded were 3,982. The number of stocks that recorded a 52-week high was 264, and those that hit a 52-week low was 21. In addition, 319 stocks traded in upper circuit, while 236 hit the lower circuit. July 16, 2024 14:53Balu Forge to raise ₹496.8 crore via preferential issue of shares & warrants Balu Forge Industries Ltd. (BFIL) has announced a fund-raise of ₹496.80 Crore in a combination of preferential issue of equity shares and fully convertible warrants. Balu Forge Industries stock declines by 1.16% on the NSE, trading at ₹410. July 16, 2024 14:40Himadri Speciality Chemical board has considered and approved the proposed acquisition of 100% shareholding of Himadri Green Technologies Innovation Limited by Himadri Clean Energy Limited. July 16, 2024 14:28WhiteOak Capital Asset Management appoints Nitin Shah as its Group Chief Financial Officer WhiteOak Capital Asset Management has announced the appointment of Nitin Shah as its Group Chief Financial Officer. Nitin brings with him over three decades of financial leadership experience to the firm. Prior to joining WhiteOak Capital, Nitin has held key leadership positions in multinational organisations such as Goldman Sachs, Merrill Lynch, and Mahindra & Mahindra Group. He most recently served as the Managing Director and Global Co-Chief Financial Officer of the engineering division at Goldman Sachs. Nitin is a Chartered Accountant and a licensed treasury manager from the Institute of Chartered Financial Analysts of India. Outside of his professional endeavours, he is an avid traveler and practitioner of spirituality. July 16, 2024 14:27Stock in focus: Suraj Estate Developers Suraj Estate Developers, a leader in South Central Mumbai's real estate market specializing in redevelopment and luxury has received investments from SI Investments, led by Sunder Iyer, acquired over 1% stake in the company. This acquisition is SI Investments' strategic entry into the real estate sector, demonstrating their faith in Suraj Estate Developers' market position and growth potential in South Central Mumbai (SCM). Suraj Estate Developers, known for its diverse portfolio and unique projects in SCM, is expanding its presence with an emphasis on delivering excellent developments and long-term success. July 16, 2024 14:26Bajaj Auto Q1 results Bajaj Auto recorded its standalone net profit for the quarter ended June 2024 at ₹1,988.34 crore as against ₹1,664.77 crore in the corresponding quarter last year. Bajaj Auto stock rises 1.39% on the NSE, trading at ₹9,808.10 July 16, 2024 14:25Company in focus: Munjal Showa Munjal Showa has received intimation of tax ascertained as being payable under Section 74(5) of IGST, CGST & SGST Act 2017 for the tax period April 2019 to March 2020, determining tax amounting of ₹4,49,56,095 from the Office of Deputy Commissioner Jurisdiction: Hardwar - Sector 1: Haridwar: Uttarakhand, State/UT: Uttarakhand. July 16, 2024 14:24Alkem Laboratories receives order-in-appeal from Additional Commissioner of Central Tax (GST Appeals), Guntur Alkem Laboratories informed that an order-in-appeal has been received from Additional Commissioner of Central Tax (GST Appeals), Guntur, Andhra Pradesh, for financial year 2017-2018 demanding IGST of Rs.1944/- along with a penalty of Rs.1944/- and applicable interest under applicable provisions of the CGST/ SGST/ IGST Act, 2017. Alkem Laboratories stock declines 1.20% on the NSE, trading at ₹5,319.30. July 16, 2024 13:48Stock market live updates today: Equity Outlook - Vinay Paharia, CIO, PGIM India Mutual Fund We are more comfortable with valuations for Large Caps versus Mid and Small Caps. After high volatility in the first week of June, the equity market saw a sharp rally with the Nifty50 index ending the month with 6.6% return, and the NSE MidCap 100 and NSE Small Cap 100 indices generating returns of 7.8% and 9.7% for the month, respectively. Market witnessed a sharp correction on the day of the declaration of Union Election results, which saw incumbent the BJP-led NDA government coming back to power for the third consecutive term with a lower majority versus previous term, and also versus the exit poll predictions. However, the index rebounded in subsequent sessions with the market getting more confident about the stable government policy continuity. During the month, indices for Realty, Auto and Information Technology sectors outperformed the broader market, while indices for Energy, FMCG and Pharma sectors underperformed. The month saw the RBI and US FED maintaining status-quo on policy rates, Indian telecom companies announcing the much-anticipated tariff hikes, news-flow of consolidation in the cement sector in India, and Fitch Ratings raising India's GDP growth forecast for FY25 to 7.2% from 7% earlier. On the macroeconomic front, the CPI inflation print for May came at 4.75% compared to 4.83% for April, and IIP growth print for April came at 5%, compared to 5.4% for March. During June, Foreign Portfolio Investors were net buyers to the tune of $2.7 bn, while Domestic Institutional Investors remained net buyers to the tune of $3.4 bn. July 16, 2024 13:47Stock market live updates today: Zomato stock fell 3.15% on the NSE, trading at ₹221.94 July 16, 2024 13:47Stock market live updates: Mankind Pharma and Takeda Pharmaceutical Company ink licence pact for commercialising 'Vonoprazan' in the Indian market Mankind Pharma Ltd and Takeda Pharmaceutical Company Ltd have inked a Non-Exclusive Patent Licence Agreement for commercialising 'Vonoprazan' in the Indian market. The agreement allows Mankind Pharma to launch the novel drug for treating Gastroesophageal Reflux Disease (GERD) under its trademark. July 16, 2024 13:44Stock market live updates today: Intrasoft Technologies board approves investment in IntraSoft Ventures, Singapore; Intrasoft Technologies stock declines on NSE Intrasoft Technologies board has approved investment in equity shares of IntraSoft Ventures Pte. Limited, Singapore, Wholly Owned Subsidiary, up to $4 million for cash at a price of $6.60 (equivalent SGD 8.97) per equity share. Intrasoft Technologies stock declined by 1.91% on the NSE, trading at ₹130.15 July 16, 2024 13:28Stock market live updates: Muthoot Finance has informed the exchange regarding settlement of $100 million Senior Secured Notes; stock trades at ₹1,837.25 on NSE, up 0.06% July 16, 2024 13:27Stock market live updates: Jyoti Structures gets Adani Energy ₹117.74-crore contract; Jyoti Structures stock surges on NSE, Adani Energy Solutions up 0.94% Jyoti Structures has received an order from Adani Energy Solutions Ltd (Formerly known as Adani Transmission Ltd.) for construction and part supply of 765kV D/C KPSIII-AP44 Transmission Line (Approx. 111 KMs), contract valued at ₹117.74 crore. Jyoti Structures stock surges 4.97% on the NSE, trading at ₹27.06 and Adani Energy Solutions was up 0.94% to trade at ₹1,022.85 July 16, 2024 13:23Stock market live updates: Lead futures: Hold on to short positions Lead futures on the Multi Commodity Exchange (MCX) has been charting a sideways movement over the past month. The July contract fell off the resistance at ₹196 towards the end of May. The chart shows that there has not been a definite trend of late, but the price action resembles a triangle pattern. If the contract slips below ₹188, it will confirm the pattern and the downtrend can extend. Read more July 16, 2024 13:05Stock market live updates today: Top gainers among Nifty Realty stocks: Sunteck (5.11%), Prestige (4.08%), Brigade Enterprises (3.19%), Godrej Properties (2.60%), Sobha (1.83%) July 16, 2024 13:01Stock market live updates today: Bajaj Auto stock trades at ₹9,723.10 on NSE, up 0.51%. Bajaj Auto stock trades at ₹9,723.10 on the NSE, up 0.51%. The company is expected to see an uptick in revenue during the quarter ended in June. Read more July 16, 2024 12:59Stock market live updates today: CRISIL Ltd to pay ₹8 per equity share interim; net profit in June quarter at ₹128.37 crore as against ₹192.90 crore in the same previous period CRISIL Ltd has declared interim dividend of ₹8 per equity share. It has recorded its net profit for the quarter ended June 2024 at ₹128.37 crore as against ₹192.90 crore in the corresponding period last year. Stock declines by 0.55% on the NSE, trading at ₹4,493.15. July 16, 2024 12:55Stock market live updates today: Varun Beverages stock decline on NSE Varun Beverages stock declines by 2% on the NSE, trading at ₹1,595.25. Company said its two subsidiaries plan to enter into an agreement with the food and beverage major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. July 16, 2024 12:53Stock market live updates today: D.B.Corp Limited has declared interim dividend of ₹7 per equity share. Stock trades at ₹386.10 on the NSE, up 0.89%. July 16, 2024 12:37Stock market live updates today: Shriram Finance board to consider quarterly results for the period ended June 2024 on July 26; stock declines on NSE Shriram Finance board to approve quarterly unaudited financial results for the period ended June 2024 and fund raising/other business at its meeting on July 26. Stock declines by 1.54% on the NSE, trading at ₹2,838.05. July 16, 2024 12:32Stock market live updates today: LIC climbs back to Rs 1,100 again after February 12 July 16, 2024 12:31Stock market live updates today: JM Financial - Union Budget 2024-25 preview Union Budget 2024-25 (scheduled on July 23, 2024) would be crucial given that it would be the first full year budget of NDA 3.0 would lay the foundation for India's economic/infrastructure/social development for next decade. From the upcoming budget, we expect that the government would strike a balance between fiscal deficit, capex for growth and social spending. The continuation of existing capex agenda (infrastructure, railways, defence, renewable/clean energy), higher budgetary allocation to revive rural economy, job creation and roadmap for 'Viksit Bharat' by 2047 would be the key theme for the Union Budget 2024-25. Markets would be keenly awaiting any adverse changes in the capital gain tax on equities. In case there is no change in capital gain tax it would be considered positive for Indian equity markets. Capex to remain at forefront while balancing fiscal deficit: Government is likely to continue its capex plan of Rs 11.1 Lakh Crore for FY25 as announced in interim budget with aim to keep fiscal deficit target unchanged at 5.1% of GDP (versus 5.8% of GDP in FY24) with aim to reach 4.5% of GDP in FY26E. Government's capex focus would continue to remain on defence, railways and infrastructure development given government vision of 'Viksit Bharat' by 2047. Continuity of pro-reform agenda like PLI schemes and incentivizing clean energy (RE, green hydrogen) would aid revival in private capex as well as job creation. Focus on measures to revive rural economy: The record dividend of Rs2.11 lakh crore received by the government from RBI would provide headroom to spent on welfare measure to revive rural economy with higher spending on government programmes like the Pradhan Mantri Awas Yojana (housing for all) and PM Kisan (financial support for farmers). Likely government welfare schemes and recent moderation in the inflation bodes well for recovery in rural economy. Key budget picks - Mahindra & Mahindra, Hero Motocorp, ITC, Sumitomo Chemical, RIL, Power Grid, NTPC, Sanghvi Movers, Bharat Electronics, Bharat Forge, VA Tech Wabag, L&T, DLF, Ambuja Cement, APL Apollo, PFC, IRCON July 16, 2024 12:29Stock market live updates today: Adani Enterprises stock trades up on NSE, Supreme Court dismisses review petition against judgment refusing court-monitored SIT probe Adani Enterprises stock trades at ₹3,106.95 on the NSE, up 0.54% as at 12.20 pm. The Supreme Court has dismissed the review petition against the top court's judgment which refused to constitute the court-monitored Special Investigation Team (SIT) probe into the Adani-Hindenburg issue over allegations of stock price manipulation by the Indian corporate giant. July 16, 2024 12:05Stock market live updates today: Major gainers and losers on the NSE as at 12.01 pm Major gainers: Coal India (3.59%), BPCL (3.14%), Hindustan Unilever (2.76%), Bharti Airtel (1.95%), Tata Consumer Products (1.95%) Major losers: Kotak (-1.56%), Shriram Finance (-1.21%), Dr Reddy's Laboratories (-1.05%), Ultratech Cement (-1.04%), SBI Life (-0.71%) July 16, 2024 12:04Stock market live updates today: BSE snapshot at noon Stocks advanced on BSE at 12 noon on July 16, 2024, were 2,276 against 1,449 stocks that declined; 157 stocks remain unchanged. Total stocks traded were 3,882. The number of stocks that recorded a 52-week high was 234, and those that hit a 52-week low was 17. In addition, 271 stocks traded in upper circuit, while 207 hit the lower circuit. July 16, 2024 12:03Stock market live updates today: Nifty midcap 100 was up 0.25% to trade at 57,806.40, and Nifty smallcap 100 rose 0.54% to trade at 19,151.20. India VIX rose 1.74% to 14.44. July 16, 2024 12:02Stock market live updates today: HUL stock rose 2.28% on NSE, trading at ₹2,680. The company sold its water purification business Pureit to A.O Smith's Indian business for ₹601 cr July 16, 2024 12:00Stock market live updates today: Nifty realty stock rose by 1.96% to trade at 1,129.65 July 16, 2024 11:45Stock market live updates today: Crude oil down as Chinese GDP disappoints Crude oil futures traded lower on Tuesday morning following signs of economic slowdown in China. Read more July 16, 2024 11:44Stock market live updates today: Jio Financial Services Q1 profit dips 6%; shares slip over 2% Jio Financial Services Ltd, the financial services arm of RIL, reported a 6 per cent decline in consolidated net profit to ₹313 crore in the first quarter ended June 2024. Read more July 16, 2024 11:43Stock market live updates: Nifty realty stock rose by 1.96% to trade at 1,129.65 July 16, 2024 11:42Stock market live updates today: Happiest Minds Technologies launches complete 360 IT-managed service offering, Happiest Minds' WATCH360; stock gains on NSE Happiest Minds Technologies has launched a complete 360 IT-managed service offering, Happiest Minds' WATCH360. Happiest Minds Technologies stock trades at ₹826.90 on the NSE, up 0.15% July 16, 2024 11:40Stock market live updates today: Top gainers and losers on the BSE at 11.30 am: Top gainers: Chennai Petroleum (11.72%), Camlin Fine Sciences (8.43%), Hatsun (7.50%), Sunteck (7%), TTML (6.94%) Top losers: JWL (-5.43%), Godfrey Phillips (-4.10%), Five-Star (-3.08%), IDBI (-2.77%), Indiabulls Housing (-2.69%) July 16, 2024 11:34Stock market live updates: Fischer Medical Ventures ties up with Singapore company, Nanyang Biologics, a drug discovery company; stock rises on BSE Fischer Medical Ventures Ltd confirmed its collaboration with Singapore company, Nanyang Biologics (NYB), a leading drug discovery company dedicated to create transformative nutraceuticals derived from natural plants & herbs. Fischer Medical Ventures stock rose 1.16% on the BSE, trading at ₹604 July 16, 2024 11:31Stock market live updates: Spicejet stock surges 3.60% on the BSE, trading at ₹57.90. July 16, 2024 11:18Stock market live updates today: H.G. Infra Engineering gets completion certificate for rehab of Highway in Maharashtra; stock surges on NSE H.G. Infra Engineering has obtained completion certificate for rehabilitation and upgradation of Nandurbar (Near Kolde) - Prakasha - Shahada - Khetia (SH-4 & SH-5) State Highway in Maharashtra on Engineering, Procurement and Construction (EPC) basis Contract. Stock surges 5.87% on the NSE, trading at ₹1,818. July 16, 2024 11:07Stock market live updates: Bank Nifty prediction today - July 16, 2024: Buy after a breakout Bank Nifty opened Tuesday's session marginally higher at 52,467 versus yesterday's close of 52,456. The index is now hovering around 52,500, up 0.1 per cent. The advances/ declines ratio stands at 3/9, giving the index a bearish bias. Bandhan Bank, up 0.9 per cent, is the top gainer, whereas Kotak Mahindra Bank, down 1.4 per cent, is the top loser. Read more July 16, 2024 10:57Stock market live updates today: Coal India stock surges 3.48% to trade at ₹515.05 on the NSE July 16, 2024 10:57Stock market live updates today: Paytm stock declines by 1.77% on the NSE, trading at ₹461.35 July 16, 2024 10:54Stock market live updates today: Ashok Leyland stock inches up 0.40% on the NSE, trading at ₹229.13. Company bagged order from MSRTC. July 16, 2024 10:54Stock market live updates today: Lemon Tree Hotels Ltd opens Lemon Tree Hotel, Centre Point, Jamshedpur. Stock inches up 0.50% on the NSE, trading at ₹147.50. July 16, 2024 10:52Stock market live updates: Nifty prediction today - July 16, 2024: Further rise on the cards. Go long now and on dips The Nifty sustains higher and continues to move up. It is currently trading at 24,624, up 0.16 per cent. The bias is positive, and further rise is on the cards this week. The advances/declines ratio is at 32:18. This is positive. Read more July 16, 2024 10:39Stock market live updates: Tata Steel stock rose 1.15% on the NSE, trading at ₹168.68 as at 10.28 am For live updates on the Tata Steel stock price movements click here July 16, 2024 10:38Stock market live updates today: One Point One Solutions has executed non-binding Term Sheet to acquire 100% stake in a BPO. Stock trades at ₹69.81 on NSE, down 0.29% July 16, 2024 10:37Stock market live updates today: Nomura's Aurodeep Nandi and Sonal Varma on India's trade deficit Slowdown in both export and import growth. The merchandise trade deficit narrowed to $21.0bn in June from $23.8bn in May, largely in line with market expectations (Consensus: $21.1bn, Nomura: $20.3bn). On a seasonally adjusted basis, we estimate the trade deficit moderated only marginally to $22.5bn in June from $22.9bn in May. Export growth eased to 2.6% y-o-y in June from 9.1% in May, despite a favourable base, reflecting weaker sequential momentum in both oil and core exports. The Nomura India Normalisation Index ( for exports, which excludes seasonal and base effects and captures performance relative to pre-pandemic levels, eased to 30% above its pre-pandemic level in June from ~39% in May. That said, our price-volume analysis shows that on a 3-month rolling sum basis, export volume growth is moderating July 16, 2024 10:36Stock market live updates today: Kellton Tech Solutions shares fell by 7.41, trading at Rs 168.70 July 16, 2024 10:36Stock market live updates today: Jio Financial Services Q1 profit dips 6%. Stock declined by 2.18 per cent to trade at ₹347.65 on the NSE as at 10 am July 16, 2024 10:35Stock market live updates today: IPO-bound Hyundai Motor India launches sporty entry SUV- EXTER IPO-bound Hyundai Motor India today launched the sporty entry SUV- EXTER with Dual cylinder CNG at a starting price of Rs 8.50 lakh. Offering the convenience of running on both petrol and CNG, the EXTER Hy-CNG Duo will provide customers with high fuel efficiency and ample boot space to the travel enthusiasts. July 16, 2024 10:32Stock market live updates today: Vedanta approves qualified institutional placement with floor price of ₹461.26 per share Vedanta Ltd has approved a qualified institutional placement with a floor price of Rs.461.26 per share. The company aims to raise up to Rs.6,688 crore through this share sale, with an indicative price range starting at Rs.440 per share, reflecting a 4.2% discount to Monday's closing price. July 16, 2024 10:29Stock market live updates today: JNK India receives order from JNK Global Co JNK India has received a significant order from JNK Global Co., Ltd., Korea for Regeneration Furnace for a refinery project in Oklahoma, USA - Upto Rs 50 Crores With this order the Company creates a footprint in USA JNK Global is one of the promoters of the Company July 16, 2024 10:27Stock market live updates today: RITES Wins Rs 50.18 Cr Order July 16, 2024 10:26Stock market live updates today: Hatsun Agro Products Q1FY25 YOY Revenue up 10.4% at ₹2,375 cr vs ₹2,150.6 cr EBITDA up 39% at₹330.3 cr vs ₹237.7 cr Margin at 13.9% vs 11.1% Net profit up 62.9% at ₹130.5 cr vs ₹80.1 cr Declares an interim dividend of ₹6/sh July 16, 2024 10:24Stock market live updates today: Kellton Tech: Company executive says company is to announce an AI Initiative With Co-pilot To Enhance Operations And Efficiency July 16, 2024 10:23Stock market live updates today: JPMorgan on Bharti Hexacom Initiate Overweight Call, Target Rs 1,280/Share Company Is The Best In India Market Repair Pure-Play Operates In Two Underpenetrated Circles Of Rajasthan & North East Areas Were Co Operates In Have Lower Tele Density, Internet Penetration & Postpaid Mix Co Enjoys Stronger Tailwinds From Subscriber Growth & Organic ARPU Expansion Co's ARPU Is Only 2% Below Bharti's; Suggesting Underlying Returns Will Remain Superior Expect 15% Tariff Hike Each In FY25/26 That Will Drive 17%/21% Revenue/EBITDA CAGR Over FY24-27 Co Is Best Play On Mkt Repair Thesis, Given Its Presence In Wireless As Compared To Bharti & Voda Idea Dividend Payouts Will Increase From 23% In FY24 To 34% In FY27 Dividend Payouts Will Increase Due To Improving FCF From Tariff Hikes & Falling Capex July 16, 2024 10:21Stock market live updates today: Redington India In Focus: Apple rings in 35% growth in India sales to clock Rs 67k cr for FY24 July 16, 2024 10:21Stock market live updates: Kharif sowing up 10% YoY (Since last week of June). Positive for rural theme stocks July 16, 2024 10:20Stock market live updates: Jefferies on HDFC Life Buy Call, Target Rs 750 GS on HDFC Life Buy Call, Target Rs 765 MS on HDFC Life Overweight Call, Target Rs 790 July 16, 2024 10:20Stock market live updates: Morgan Stanley maintains 'Equal Weight' rating on ApolloTyres with a target price of Rs 472 July 16, 2024 10:19Stock market live updates today: Angel One Ltd's unaudited consolidated financial results for the quarter ended 30th June 2024 Key Highlights: Total Income: ₹14,101 million, a 3.8% increase QoQ Total Client Base: 24.7 million, an 11.2% increase QoQ and 64.2% YoY Gross Client Acquisition: 2.6 million, a 94.8% increase YoY Share in India's Demat Accounts: 15.2%, a 54 bps increase QoQ and 274 bps YoY NSE Active Client Base: 6.7 million, a 9.8% increase QoQ and 52% YoY Number of Orders: 462 million, an 85.9% increase YoY Average Daily Turnover (Notional basis): ₹43.8 trillion, a 92.7% increase YoY Share in Retail Overall Equity Turnover: 18.9%, an 82 bps increase QoQ and 299 bps YoY July 16, 2024 10:06Stock market live updates today: Zee Entertainment Enterprises trades flat at ₹160.18 on NSE. Company had passed a resolution to issue securities for an amount not exceeding ₹2,000 crore July 16, 2024 10:05Stock market live updates today: NLC India stock declined by 0.43% on the NSE, trading at ₹296.45 July 16, 2024 10:04Stock market live updates today: Hindustan Unilever stock inches up on NSE after it inks deal with A.O. Smith to sell its water purification business for ₹601 crore Hindustan Unilever stock inches up 0.58% on the NSE to trade at ₹2,635.55. Company had entered into a deal with the Indian division of A.O. Smith to sell its water purification business for an enterprise value of ₹601 crore, equivalent to $72 million July 16, 2024 10:03Stock market live updates today: Suprajit Engineering inks agreement for first stage of acquisition of the business of Stahlschmidt Cable Systems; stock inches up on NSE Suprajit Engineering has signed the closing memorandum for asset and business acquisition in Germany and equity purchase in Poland and Morocco as the First Stage of acquisition of the business of Stahlschmidt Cable Systems (SCS). Suprajit Engineering stock inches up 0.70% on the NSE, trading at ₹519.60. July 16, 2024 09:59Stock market live updates today: RITES receives roads quality control contract in Assam worth ₹₹50.18 crore; stock declines on NSE RITES Ltd has received a Letter of Acceptance for Consultancy Services for Third Party Monitoring & Quality Control for 47 Roads (Length 996.70 km) across Assam under the Asom Mala 2.0 for the year 2023-24. Contract worth ₹₹50.18 crore. RITES stock trades at ₹757.80 on the NSE, down by 0.24%. July 16, 2024 09:50Stock market live updates today: RateGain in partnership with airline pricing solution, AirGain, and Hahnair, for ticketing solutions; RateGain stock inches up on NSE RateGain Travel Technologies Ltd (RateGain) in partnership with its airline pricing solution, AirGain, and Hahnair, a German airline known for its comprehensive ticketing solutions and distribution services. RateGain stock inches up 0.86% on the NSE, trading at ₹820.90. July 16, 2024 09:47Stock market live updates today: Yes Bank receives tax order for input tax credit reversal along with interest and penalty of ₹22,79,659. Stock trades at ₹26.31 on NSE, down 0.27% July 16, 2024 09:39Stock market live updates today: Commodities note by Sriram Iyer, Senior Research Analyst at Reliance Securities Energy International and domestic crude oil futures settled weaker on Monday with NYMEX gasoline falling to a 4-week low. Weak economic news from China weighed on crude prices Monday. The Dollar too recovered on Monday and kept upside capped. Looking ahead from an intraday perspective, international crude oil prices have started marginally weaker this early Tuesday morning in Asian weighed by weak economic data from China. In June, China's crude oil imports fell on both a monthly and annual basis to 46.45 million tons. Intraday, the NYMEX WTI September futures could trade in band of $80.35 to $81.20, while MCX July crude futures could trade within 6,800 to 6,890. On the options side, highest Call OI remains at the 7000 strike, while on the downside highest Put OI remains at 6800 strike. International and domestic gas futures tumbled on Monday undercut by forecasts for cooler US temperatures that would reduce demand from electricity providers to run air conditioning. Additionally, flows to the LNG terminal in Texas also remained low, reflecting weak demand and weighed on prices. Looking ahead from an intraday perspective, international natural gas futures have started flat this early Tuesday morning in Asian trading. Intraday, the NYMEX gas September futures could trade in band of $2.150 to $2.250, while MCX July crude futures could trade in the band of 183 to 190. On the options side, highest Call OI remains at 240 strike, while on the downside highest Put OI has shifted to 190 strike from 170 strike. Bullion International and domestic gold prices gained on Monday aided by hopes for interest rate cuts from the Federal Reserve International spot and domestic silver prices eased on Monday, tracking gains in the Dollar and bond yields. However, traders awaited for more comments from Fed officials to gauge the timing of those cuts. Meanwhile, Powell's interview with Rubenstein was largely in line where the Fed Chief largely repeated themes from a week ago. Powell declined to give any guidance on the timing of interest-rate moves and said that policymakers will make calls meeting by meeting. But he added that the CPI report does add somewhat to confidence that inflation is heading down to the central bank's 2% goal. According to the CME FedWatch Tool, markets now see a 94% chance of a U.S. rate cut in September. However, demand concerns from the physical side limited upside in gold and silver after weaker-than-expected GDP data from major gold consumer China might be limiting buying interest in the gold market. From an intraday perspective, international gold prices have started marginally higher this early Tuesday morning in Asian trading as investors loo to retail sales data tonight. Internationally, the range for COMEX August gold is $2,405 to $2,445, while that for MCX gold August is 73,100 to 73,800. On the options side, highest Call OI remains at 75000 strike, while on the downside highest Put OI remains at 71000 strike. International LBMA spot silver prices have also started marginally in the green this early Tuesday morning in Asian trade. The Dollar has started stronger and could cap gains, but the U.S. Treasury Yield have started with small cuts and could cap downside. Internationally, the range for COMEX September silver is $30.625 to $31.190, while that for MCX September silver is 92,100 to 93,250 On the options side, highest Call OI remains at 100000 strike, while on the downside highest Put OI remains at 85000 strike. Base Metals International and domestic copper dropped on Monday as the dollar firmed and weak economic data from China. Data showed China's Q2 GDP rose by 0.6% quarter-on-quarter and 5.0% year-on-year, weaker than expectations of 0.9% and 5.2% respectively. Additionally, China's June retail sales rose by 2.0% year-on-year, weaker than expectations of 3.4% year-on-year and the smallest pace of increase in 14 months. In addition, China's June new home prices fell by 0.67% month-on-month, the thirteenth consecutive month home prices have declined. Meanwhile, Stocks of copper in LME-approved warehouses have reached their highest since October 2021 at 210,325 tons, more than double levels in mid-May and weighed on prices. Other metals on LME ended weaker on Monday with aluminium prices falling almost 1% after data showed China's production of primary aluminium in June rose to its highest in nearly a decade. From an intraday perspective, international copper has started weaker this early Tuesday morning in Asian trading on poor demand prospects from China and a stronger Dollar. However, downside could be capped as traders could be hopeful that weak data would lead to further stimulus from China. Key trigger will be China's plenum which started this week. Internationally, LME copper range is $9,700 to $9,875, while the range for MCX copper July is 850 to 865. On the options side, highest Call OI has shifted to 880 strike from 900 strike, while on the downside highest Put OI remains at 850 strike. Most other metals on LME have started weaker this early Tuesday morning in Asian trade. Internationally, the range for LME zinc is $2,925 to $2,975, while that for MCX zinc July is 272 to 276. On the options side, highest Call OI remains at 275 strike, while on the downside highest Put OI remains at 260 strike. July 16, 2024 09:36Stock market live updates today: Top gainers ands losers on the NSE at 9.30 am Top gainers: BPCL (1.69%), Adani Enterprises (1.33%), Coal India (1.29%), HDFC Life (1.27%), Tata Steel (1.04%) Top losers: L&T (-0.59%), Shriram Finance (-0.47%), LTIMindtree (-0.46%), Power Grid (-0.44%), SBI Life (-0.42%) July 16, 2024 09:35Stock market live updates today: K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. "In the next few days in the run up to the Budget, the market is likely to anticipate the Budget proposals and respond. Even though Budget anticipations are speculative, this Budget will be growth oriented and at the same time fiscally prudent. Growth is top priority which the Government cannot and will not compromise. Tax buoyancy and the RBI dividend bonanza give the finance minister ample room for fiscal consolidation. Therefore, the market will be optimistic on this ground. The unknown factor is regarding any possible tweaking of the LTCG tax. If the tax rate is raised or tenure for LTCG is extended the market will respond negatively to that. A possible Budget proposal that can impact certain segments of the market would be disinvestment. Since PSU stocks are trading at high valuations, the government is likely to go for disinvestment in segments where government ownership is very high. This can increase the supply of stocks in these segments and bring their prices down. Watch out for disinvestment proposals in Railways and defence-related segments." July 16, 2024 09:34Stock market live updates: Corporate events Century Textiles: Company's arm, Birla Estates, buys 5-acre land parcel in Gurugram, with estimated revenue potential of Rs 1,400 crore. Hindustan Unilever: Company approves sale & divestment of company's water purification business to A.O. Smith India for $72 m LUPIN: Company divests its U.S. commercial women's health specialty business to Evofem Biosciences. Bharat Agri Fert & Realty: Company introduces Wembely-24, a high-rise tower in Majiwada Thane, featuring 457 BHK residential flats. Elecon Engineering: Company Limited has announced a sub-division/split of existing equity shares from 1 to 2 shares with a face value of Re. 1 each, fully paid-up. NLC India: Company has emerged as the successful bidder for the Machhakata in the 8th round of commercial coal block e-auction held recently by the Ministry of Coal, Gol. Hutsun Agro: Net profit up 62.9% at ₹130.5 cr vs ₹80.1 cr, revenue up 10.4% at ₹2,375 cr vs ₹2,150.6 cr (YoY). Styrenix Performance: Net Profit at Rs 61.2 cr vs Rs. 32.5 cr, Revenue at Rs 698.7 cr vs Rs 543.8 cr (YoY) Kelton Tech: Net Profit at Rs 20.0 cr vs Rs. 15.4 cr, Revenue at Rs 260 cr vs Rs 250 cr (YoY) Rajoo Engineers: Net Profit Rs 5.34 cr vs Rs 2.5 cr, Q1 Revenue Rs 50.9 cr vs Rs 31.2 cr (YoY) HDFC AMC: Net Profit at Rs 604.0 cr vs Rs. 541.0 cr, Revenue at Rs 775 cr vs Rs 695 cr (YoY) JNK India: Company has received a significant order from JNK global company CESC: Purvah Green Power Ltd Signs Framework Agreement for Wind Capacity with Suzlon Energy Ltd Landmark Cars: June Quarter Revenue Rs 1,166 Cr vs 935 Cr, Growth Of 24.71% (YoY) RVNL: Company receives letter of acceptance from East Coast Railway for a project worth Rs 160 crore. Emkay Global: Investor Dolly Khanna Name Apperas With 1.63% Stake in Co during Q1 Tata Steel: Company plans to double manufacturing capacity to 40 MTPA. Zee Entertainment: Company receives shareholder approval with requisite majority to raise Rs 2,000 crore Vedanta QIP: Base fund raise of Rs 5,016 cr with an upsize option of Rs 1,672 cr SJS Ent: Goldman Sachs increased stake to 4.41% from 4.22% Ganesh Green Bharat: Camellia bought 141600 at Rs. 398.00 of company. ERIS Life: Franklin bought 1094201 at Rs. 1,000.04 of company. JTEKT: BNP Paribas Investments increased stake to 2.16% from 2.11% Timken: HSBC Funds increased stake to 1.23% from 1.11% Taneja Aerospace/TAAL Enterprises: The rationalization of GST on MRO will attract investment of around 1000 crores in next 3-4 years. Data Patterns: HSBC Funds name appears with 1.35% stake. Hariom Pipes: Malabar Fund increased stake to 9.17% from 5.62%. GMR/ Adani Ent: Government aims to further double the airports in India from existing 150: Aviation Minister. Ujaas Energy: Board approves issuance of 1 bonus share for every 4 share held Den Networks: Net Profit at Rs 46 cr vs Rs. 43 cr, Revenue at Rs 248 cr vs Rs 273 cr (YoY) TNPL: Company appoints Sandeep Saxena as Chairman and MD Sheetal Cool Products: Net Profit at Rs 7.44 cr vs Rs. 8.10 cr, Revenue at Rs 124 cr vs Rs 135 cr (YoY) Spice Jet: Net profit at ₹126.9 cr vs loss of ₹6.2 cr, Revenue down 19% at ₹1,738.4 cr vs ₹2,145 cr (YoY) Benares Hotels: Net Profit at Rs 6.4 cr vs Rs 6.3 cr, Revenue at Rs 23 cr vs Rs 25.5 cr (YoY) Udaipur Cement: Net loss at Rs 10.28 cr vs profit of Rs. 4.2 cr, Revenue at Rs 325 cr vs Rs 246 cr Balakrishna Industries Company completes setting up of mould manufacturing plant at its Bhuj unit with a capex of Rs 300 crore Unichem Laboratories: U.S. FDA completes inspection at company's Goa formulation facility, issues 5 observations Federal Bank: Bank to Consider Q1 Results on July 24 Sun Pharma: Board Meeting on Aug 1 to Consider Q1 Results JP Associates: Adani Eyes Jaypee Cement Assets through IBC Equitas SFB: Company approves appointment of Narayanan N R, K S Sampath & Ramkumar Krishnaswamy as independent directors. Jio Fin: Net Profit at Rs 313 cr vs Rs. 332 cr, Revenue at Rs 420 cr vs Rs 414 cr (YoY). Adani Ports: GQG Partners increased stake to 4.12% from 4.07% One 97 Communication: Paytm gets administrative warning from SEBI Oil upstream stocks: Windfall Tax on Crude rise to ₹7,000/tonne from ₹6,000/tonne w.e.f. July 16, 2024 Telecom Stocks: Supreme Court to urgently hear curative petition against an earlier court order regarding AGR dues. July 16, 2024 09:19Stock market live updates today: Pre-market views by Avdhut Bagkar Technical and Derivatives Analyst, StoxBox US Markets ended on a firm note on Monday with two of the three major indices moving on to record fresh highs aided by strong buying across various counters, optimism about interest rate cuts by the Fed, and the likelihood of Donald Trump winning the upcoming presidential election. Early today, the Asian markets started mostly on a negative note after the US Fed Chairman Jerome Powell indicated overnight that the central bank is looking for greater confidence that inflation will drop to 2% levels, thereby citing 'long and variable legs' in policy effects. Domestically, Indian indices might start on a flat to positive note amid steady global cues and the market back in the earnings season. In the commodity market, gold saw a rise, inching towards a two-month high. However, the oil prices moved down on worries about a slowing Chinese economy crimping demand. Domestically, the investors will keep a close watch on the markets as the result season has kicked off and gauge their decisions for the upcoming year. The benchmark index opened 84 points higher in its previous trading session. However, despite the initial gain, the index fluctuated within a narrow range of 112 points, lacking any clear momentum throughout the day. It closed without showing a definite direction. Interestingly, despite the lacklustre index movement, the overall market and momentum breadth remained positive. With 5-day EMA acting as immediate support, the index is anticipated to continue to attract bullish strength on sustenance above the average line on a closing basis. Sup: 24500-24380-24330 Res: 24600-24700-24800 July 16, 2024 09:19Stock market live updates today: HDFC Life Insurance: APE up 23% YoY, VNB margins 100bp below estimate - HDFCLIFE remains focused on maintaining a balanced product mix, with an emphasis on product innovation and superior customer service. Growth in lower-tier cities will be in focus with the expansion of HDFC Bank's branch network and the deepening of HDFCLIFE's branch network. - Persistency improved across cohorts, which will keep the renewal premium growth healthy. The company aims to double its APE/VNB over the next four years. Surrender charges are likely to bring in new commission constructs, and hence, distributor adaptability will be critical. - We have raised our APE growth estimates but lowered our VNB margin assumptions, based on the 1Q performance and guidance. We now estimate HDFCLIFE to deliver an ~18% VNB CAGR over FY24-26 and steady margin in the range of 25-26%. Maintain BUY with a TP of INR750 (premised on 2.5x Mar'26E EV). July 16, 2024 09:18Stock market live updates today: Market opening comments by Deepak Jasani, Head of Retail Research at HDFC Securities Indian markets could open flat to mildly higher, in line with mixed Asian markets today and higher US markets on July 15 U.S. stocks ended higher on Monday, as traders increased their bets on the possibility of a Donald Trump victory in November's U.S. presidential election following a failed assassination attempt against Trump over the weekend. The growing probability that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September also helped feed risk appetite. The Indian government has raised the windfall tax on petroleum crude to 7,000 rupees per metric ton from 6,000 rupees, with effect from July 16. Following Monday's weaker-than-expected China GDP print, Goldman Sachs lowered its forecast for China's full-year gross domestic product to 4.9% from 5%, while JPMorgan cut its predictions from 5.2% to 4.7%. Bitcoin hit a two-week high Monday, as betting markets suggested an increased chance of victory for crypto-friendly candidate Donald Trump in the U.S. presidential election. The value of the world's biggest cryptocurrency, bitcoin, was up 6.2%% at $63,622.09, according to CoinGecko. Asia-Pacific markets open mixed on Tuesday as traders in Asia react to Federal Reserve Chair Jerome Powell's comments that the central bank will not wait until inflation hits 2% to cut interest rates. Nifty ended at a fresh closing high in the first session of the week tracking sharp gains in large PSU stocks. At close, Nifty was up 0.35% or 84.6 points at 24586.7. Nifty formed a doji after a rise suggesting caution at higher levels. In the recent past, such formations did not result in continuous declines. Nifty could stay in the 24494-24635 band for the near term. July 16, 2024 09:15Stock market live updates today: PC Jeweller gets IndusInd Bank's approval for one-time settlement of outstanding dues July 16, 2024 09:14Stock market live updates: Fund house recommendations MS on VBL: Maintain Overweight on Company, raise target price at Rs 1701/Sh (Positive) JP Morgan on Bharti Hexacom: Initiate Overweight on Company, target price at Rs 1280/Sh (Positive) GS on HDFC Life: Maintain Buy on Company, raise target price at Rs 765/Sh (Positive) Jefferies on HDFC Life: Maintain Buy on Company, target price at Rs 750/Sh (Positive) HSBC on HDFC Life: Maintain Buy on Company, raise target price at Rs 760/Sh (Positive) Citi on HDFC Life: Maintain Buy on Company, raise target price at Rs 735/Sh (Positive) MS on HDFC Life: Maintain Overweight on Company, raise target price at Rs 790/Sh (Positive) Jefferies on HDFC AMC: Maintain Buy on Company, raise target price at Rs 4900/Sh (Positive) Citi on Vodafone Idea: Maintain Buy on Company, target price at Rs 23/Sh (Positive) GS on Torrent Pharma: Maintain Buy on Company, raise target price at Rs 3125/Sh (Positive) GS on Neuland Labs: Maintain Buy on Company, raise target price at Rs 10200/Sh (Positive) JP Morgan on Gas stocks: Data from the PPAC and CEA suggests LNG imports increased meaningfully in April / May due to higher demand from power plants. Prefer Petronet, MGL and IGL (Positive) MS on Apollo Tyre: Maintain Equal weight on Company, target price at Rs 472/Sh (Neutral) MS on HDFC AMC: Maintain Equal weight on Company, target price at Rs 3640/Sh (Neutral) HSBC on HDFC AMC: Maintain Hold on Company, target price at Rs 4030/Sh (Neutral) CLSA on HDFC Life: Maintain Outperform on Company, target price at Rs 700/Sh (Neutral) Macquarie on HDFC Life: Maintain Neutral on Company, target price at Rs 560/Sh (Neutral) July 16, 2024 09:11Stock market live updates: Crude oil futures trade lower Crude oil futures traded lower on Tuesday morning following the slowing down of economy in China. At 9.06 am on Tuesday, September Brent oil futures were at $84.64, down by 0.25 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $80.61, down by 0.28 per cent. July crude oil futures were trading at ₹6831 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6847, down by 0.23 per cent, and August futures were trading at ₹6755 against the previous close of ₹6770, down by 0.22 per cent. July 16, 2024 09:04Stock market live updates: Markets to see flattish opening ahead of holiday Indian stocks are expected to open on a flat note and remain lacklustre through the day. According to analysts, as Wednesday is a trade holiday due to Muharram, traders will keep their positions light. However, the undertone remains strong, they added. The focus is now on ongoing results and the upcoming Budget, experts said. Read more July 16, 2024 08:47Stock market live updates today: Stocks that will see action today: July 16 Hindustan Unilever Ltd. on Monday announced that it has entered into a deal with the Indian division of A.O. Smith to sell its water purification business for an enterprise value of ₹601 crore, equivalent to $72 million. Read more July 16, 2024 08:13Stock market live updates: India's inclusion in Bond Indices will help supplement Balance of Payments surplus, says SBI's Economic Research team India's inclusion in Bond Indices will help supplement Balance of Payments surplus while ensuring incremental 'Indianisation' of global hot money, says SBI's Economic Research team. Monthly net inflows into FAR (fully accessible route) securities have already touched ~Rs 90,000 crore during October'23-June'24 post the announcement of inclusion of these securities in JP Morgan's JP Morgan's Government Bond Index-Emerging Markets-Global Diversified (GBI-EM-GD) Index, according to SBI's Economic Research team. Though Indian bonds continue to remain on a watch list by another major index provider, FTSE Russell (which cited criteria around taxation, FPI registration and settlement process for Indian markets) for inclusion in its Emerging Markets Government Bond Index (EM-GBI), the next annual revision due could put a strong case for the Index managers, with the FOMO (Fear of Missing Out) effect as global trading platforms like MarketAxess, Bloomberg and Tradeweb, working closely with CCIL, are now awaiting the RBI's approval for new launches: SBI's Eco Research Team Several global marquee funds, at present clients of multiple indices forming a passive investment channel, and taking proxy exposures to India via instruments such as total returns swaps and supranational bonds, have evinced keen interest to enter the most rapidly growing Large Economy directly, indicating incremental Indianisation of global flows, and making the country compete directly with China in AXJ (Asia Ex Japan) category with foreign ownership in its bonds standing a tad above $750 billion: SBI's eco research team July 16, 2024 07:58Stock market live updates today: Dividend Dates Ex-Dividend 18 July 2024 (Thursday) Last date for Cum-Dividend Today Advanced Enzyme Technologies Ltd Dividend Per Share Rs.1.1 Previous day Closing Price - Rs. 377.45 Amara Raja Energy & Mobility Ltd Dividend Per Share Rs.5.1 Previous day Closing Price - Rs. 1597.65 Arvind Smartspaces Ltd Special Dividend Per Share Rs.1 Dividend Per Share Rs.2.5 Previous day Closing Price - Rs. 695.85 Asm Technologies Ltd. Dividend Per Share Rs.1 Previous day Closing Price - Rs. 1616.4 Bliss Gvs Pharma Ltd. Dividend Per Share Rs.0.5 Previous day Closing Price - Rs. 116 Can Fin Homes Ltd. Dividend Per Share Rs.4 Previous day Closing Price - Rs. 878.4 Golkunda Diamonds & Jewellery Ltd. Dividend Per Share Rs.1.5 Previous day Closing Price - Rs. 193.15 Gpt Healthcare Ltd Dividend Per Share Rs.1.5 Previous day Closing Price - Rs. 165.55 Kanoria Energy & Infrastructure Ltd Dividend Per Share Rs.0.05 Previous day Closing Price - Rs. 36.54 Nelcast Ltd. Dividend Per Share Rs.0.4 Previous day Closing Price - Rs. 148.25 Newgen Software Technologies Ltd Dividend Per Share Rs.4 Previous day Closing Price - Rs. 1036.4 Panasonic Energy India Company Ltd. Dividend Per Share Rs.8.85 Previous day Closing Price - Rs. 527.9 Praj Industries Ltd. Dividend Per Share Rs.6 Previous day Closing Price - Rs. 722.85 Precision Camshafts Ltd Dividend Per Share Rs.1 Previous day Closing Price - Rs. 188.2 Tanla Platforms Ltd Dividend Per Share Rs.6 Previous day Closing Price - Rs. 997.75 Thangamayil Jewellery Ltd Dividend Per Share Rs.6 Previous day Closing Price - Rs. 1767.7 Ultramarine & Pigments Ltd. Dividend Per Share Rs.5 Previous day Closing Price - Rs. 447.3 Uti Asset Management Company Ltd Special Dividend Per Share Rs.23 Dividend Per Share Rs.24 Previous day Closing Price - Rs. 1072.6 July 16, 2024 07:58Stock market live updates: Stock Split Dates KPI Green Energy Ltd Stock Split From Rs.10/- to Rs.5/- Previous day Closing Price - Rs. 1942.75 Ex - Stock Split 18 July 2024 (Thursday) Last day trade for before split Today July 16, 2024 07:57Stock market live updates: Hahn Air selects Rategain Travel Tech to power pricing for 350+ airlines globally July 16, 2024 07:55Stock market live updates today: Paytm receives administrative warning letter from SEBI Paytm believes it acted in compliance with SEBI regulations. SEBI warning related to its related party transactions July 16, 2024 07:25Stock market live updates: Stock to buy today: Bank of Maharashtra (₹68.75): BUY July 16, 2024 07:24Stock market live updates: Market overnight close BSE Sensex-30 (P/E 24.48) + 146 (80,665) 🔼🫤 BSEmidcap-150 (P/E 42.63) + 123 (16,347) 🔼🙂 BSE small cap-250 (P/E 34.50) + 23 (7,145) 🔼🙂 Nifty-50 (P/E - 23.38) + 85 (24,587) 🔼🙂 Bank Nifty (P/E - 16.01) + 177 (52,456) 🔼🙂 India VIX + 0.46 (14.19) 🔼🙁 Fii Cash + 2,685 Crs 🙂 Dii Cash - 0,331 Crs 😑 New 10 Yrs G'Sec. Benchmark 7.10 GS-2034 (Rs. 100.845) YTM 6.9767 % 🔽🫤 Call 6.47 % (6.46 %) 🔼😑 TREP 6.34 % (6.33 %) 🔼😑 REPO 6.40 % (6.41 %) 🔽😐 T-Bill(3m) 6.76 % ↔️😶 BrntCrude 84.82 $/brl ₹. 6,870 ↘️ Gold Comex 2,417 $/oz ₹/10 gms 73,358 🔼 Silver Comex 30.96 $/oz 92,530 ₹/kg 🔼 $/₹ 83.59 🔽😑 €/₹ 91.13 🔽🙁 £/₹ 108.37 🔽😕 Baltic Dry Fright index (Friday) + 50 (1,997) ↗️ DJIA Future + 218 (40,219) 🔼🙂 US Tech 100 Future + 83 (20,416) 🔼🙂 GIFT Nifty - 17 (24,638) 🔽😑 July 16, 2024 07:21Stock market live updates: STYRENIX PERFORMANCE Q1 Result NET PROFIT 612M RUPEES VS 324M (YOY) REVENUE 6.99B RUPEES VS 5.44B (YOY) EBITDA 897.2M RUPEES VS 509.5M (YOY) EBITDA MARGIN 12.84% VS 9.37% (YOY July 16, 2024 07:20Stock market live updates today: BANK OF MAHARASHTRA Q1 Result NET PROFIT AT 1293 CR V 882 CR (YOY) OPERATING PROFIT UP 4 % TO 2294 CR (QOQ) PROVISON UP 1 % TO 950 CR (QOQ) GROSS NPA AT 1.85 % V 1.88 % (QOQ) NET NPA AT 0.20 % V 0.20 (QOQ July 16, 2024 07:20Stock market live updates: GANESH HOUSING CORPORATION Q1 Result NET PROFIT 1.1B RUPEES VS 1.6B (YOY) DECLINE IN PROFIT OF 31.25% FROM PREVIOUS EBITDA 1.49B RUPEES VS 2.2B (YOY) EBITDA MARGIN 69.64% VS 79.85% (YOY) July 16, 2024 07:19Stock market live updates: Researchbytes Analyst App https://play.google.com/store/apps/details?id=com.intelegain.rb Recent Interview... As of 06:52 AM Monday 15 July 2024 HCL Tech: Pratik Aggarwal, CFO HCL Tech Q1 Earnings: Mild Beat On Margins, Revenue | Here's What Management Has To Say https://www.youtube.com/watch?v=BBXE_yJfD6k LT Foods: VK Arora, CMD LT Foods Biz: Co Eyeing Revenue From UK Facility, What's The Expansion Plan Of Biz In UK Market? https://www.youtube.com/watch?v=OCiI0KNhS30 Puravankara: Abhishek Kapoor, Group CEO Puravankara: Co's Pre-Sales Affected Q1 Earnings, How Will Realty Demand Trend Be Improved Ahead? https://www.youtube.com/watch?v=glOitJUDleM Events today... https://www.researchbytes.com/Default.aspx?cc=event Results today... https://www.researchbytes.com/Default.aspx?cc=result Replays available at www.researchbytes.com July 16, 2024 07:19Stock market live updates: Securities in F&O ban for trade date 16-July-2024 * ABFRL * CHAMBAL * GMRINFRA * GNFC * HINDCOPPER * INDIACEM * INDUSTOWER * RBLBANK July 16, 2024 07:18Stock market live updates today: Zee shareholders approve fundraise up to ₹2000 crore via equity/debt /combination The company is already sitting at a net cash position of INR11.8b which can suffice the core business growth. The additional funds of upto INR20b will provide the strategic flexibility in evaluating opportunities. The company hasn't announced any plans at this point, but there may be potential to a) explore international markets, b) expansion in the linear space, c) fund Zee5 or other OTT acquisition, etc. Together with Sony, the combined company was even aiming an higher fund raise of INR 130b. July 16, 2024 07:14Stock market live updates today: HUL to divest Pureit water purification business Hindustan Unilever has decided to divest its Water Purification business, currently operating under the "Pureit" brand. This sale includes the associated trademarks, copyrights, intellectual properties, identified assets, and contracts, all of which will be transferred to A. O. Smith India Water Products Private Ltd as a going concern on a slump sale basis. Key details of the transaction: Revenue contributed by division: For the FY2023-24, the Water Purification business, which is part of the HUL Home Care division, generated a turnover of ₹2,930m, accounting for less than 1% of HUL's total turnover. *Date of sale agreement signing: 15th July, 2024 *The expected date of completion of sale/disposal: Estimated period of 3 months *Details of buyers: A. O. Smith India Water Products Private Limited is the Buyer entity involved in the Transaction. It is a subsidiary of A. O. Smith Corporation, USA. *Consideration received from such sale/disposal: The enterprise value of the business has been estimated at $72m (INR ~6,010m). July 16, 2024 07:11Stock market live updates: India raises windfall tax on petroleum crude to ₹7,000/tonne from ₹6,000/tonner with effect from July 16 July 16, 2024 07:10Stock market live updates today:J.P. Morgan Initiates coverage of Bharti Hexacom with an OW rating and a PT of Rs1,280 ( 20% potential upside). July 16, 2024 07:09Stock market live updates: Fund Flow Activity 15 July 2024 (Rs. In Crs.) Turnover: (NSE + BSE) Cash Volume: 131749.37 + 9733.25 Total: 141482.62 F&O Volume: 527523.79 + 15972955.72 Total: 16500479.5 Provisional Cash FII/FPI: NET BUY: +2684.78 (14857.07 - 12172.29) DII: NET SELL: -331.00 (15033.05 - 15364.05) July 16, 2024 07:09Stock market live updates: Tata Steel plant in UK remains unchanged, says Chairman Tata Steel has embarked on transformation journey by adopting advanced manufacturing techniques and this will lead to unavoidable job losses, especially in the UK. Read more July 16, 2024 07:00Stock market live updates: Zee shareholders approve a ₹2,000-crore fundraise Shareholders of Zee Entertainment Enterprises (ZEE) have passed the resolution for issuance of securities for an amount not exceeding ₹2,000 crore with requisite majority. Read more July 16, 2024 06:52Stock market live updates: Bata India crosses milestone of 500 franchise outlets for first time Footwear major Bata India, which has been witnessing increasing interest for opening of its franchise stores, has crossed the milestone of 500 franchise outlets for the first time. Read more July 16, 2024 06:51Stock market live updates: Barclays predicts RBI rate hold until December; potential cut expected in this year's final month With Consumer Price Index (CPI)-based inflation back at over 5 per cent to touch 5.1 per cent in June 2024, Barclays Research expects Reserve Bank of India (RBI) to stay hawkish and go in for first interest rate cut in December only. Read more July 16, 2024 06:49Stock market live updates: Bank of Maharashtra reports 47% jump in Q1FY25 net profit Bank of Maharashtra (BoM) reported a 47 per cent jump in first quarter net profit at ₹1,293 crore on the back of healthy growth in net interest income and non-interest income and sharp decline in provision for taxes. Read more July 16, 2024 06:48Stock market live updates: SC rejects plea to review its January verdict upholding SEBI probe into Adani-Hindenburg case The Supreme Court has rejected a plea to review its January 3 verdict upholding the Securities and Exchange Board of India (SEBI) investigation into allegations of share price manipulation and failure to disclose transactions in violation of the regulations and securities' laws raised by US-based Hindenburg Research against the Adani Group. Read more July 16, 2024 06:43Stock market live updates: Stock to buy today: Bank of Maharashtra (₹68.75): BUY The short-term outlook for Bank of Maharashtra is bullish. The stock has begun the week on a strong note by surging over 5 per cent on Monday. This rise has taken the stock well above an important resistance at ₹67. Prior to this rise, the stock has formed a strong base above ₹63. Read more SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on July 16, 2024

Share Market Highlights July 15, 2024: Sensex and Nifty reach new record highs on foreign fund inflows and strong SBI performance

Stock Market on 15 July 2024 | Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets. ALL UPDATESJuly 15, 2024 15:38Closing bell: BSE Sensex closed at 80,664.86, higher by 145.52 pts or 0.18% and Nifty 50 ended at 24,586.70, up by 84.55 pts or 0.35%. July 15, 2024 15:38Stock Market Live Today: Vinod Nair, Head of Research, Geojit Financial Services on today's market trends "The Indian market continues to experience optimism driven by positive expectations from the upcoming Union Budget, robust FII inflows, and better-than-expected results from the IT sector. Additionally, the initial results from PSU banks have triggered a strong rally in the PSU index. However, the degree of optimism in the broad market is moderating as we are heading towards the budget D-day next week. Also, June's CPI inflation reached a 5-month high due to the heatwave in May-June." July 15, 2024 15:37Stock market live news: Aditya Gaggar Director of Progressive Shares on today's market A lackluster trade was seen after a knee-jerk reaction in the opening and the Index settled at 24,586.70 with gains of 84.55 points. Barring IT, all other sectors ended the day in green with PSU Bank being the top gainer followed by Media. Mid and Smallcaps advanced over 0.50% and outperformed the Frontline Index. The Index has formed a DOJI candlestick pattern at a record level indicating a reversal but considering a strong uptrend such correction if any, will be considered a buying opportunity. The downside seems to be protected at 24,400 while on the higher side level of 24,740 will serve as an immediate hurdle. July 15, 2024 15:37Nifty Today: Top gainers, losers at close Top gainers on the NSE: ONGC (5.18%), SBI Life (2.95%), Shriram Finance (2.88%), SBI (2.71%), Bajaj Auto (2.58%) Top losers: LTIMindtree (-1.63%), Asian Paints (-1.34%), Grasim Industries (-1.33%), Tata Steel (-0.94%), Axis Bank (-0.67%) July 15, 2024 15:18Stock Market Today: Sumit Phakka has taken charge as Deputy Managing Director of IDBI Bank Limited with effect from July 15, 2024. July 15, 2024 15:17Stock Market Live Updates: CESC's subsidiary enters agreement with Suzlon Energy Purvah Green Power Private Limited, a step-down subsidiary of CESC Limited, has entered into a framework agreement with Suzlon Energy Limited for supply, EPC and operations and maintenance of wind turbines to be commissioned over the next 2-4 years. CESC stock declined by 1.58% on the BSE, trading at ₹183.90. Suzlon Energy stock traded at ₹54.70 on the NSE, up 0.13%. July 15, 2024 15:06Stock Market Live Today: Top NSE gainers and losers Top gainers on the NSE at 3 pm: ONGC (5.10%), Shriram Finance (3.31%), SBI Life (3.08%), Bajaj Auto (2.57%), SBI (2.51%) Top losers: LTIMindtree (-1.77%), Asian Paints (-1.47%), Grasim Industries (-1.33%), Tata Steel (-1.14%), Axis Bank (-0.65%) July 15, 2024 15:04Stock Market Live Updates: 2,050 stocks advance, 1,955 stocks decline Stocks advanced on BSE at 3 pm on July 15, 2024, were 2,050 against 1,955 stocks that declined; 137 stocks remain unchanged. Total stocks traded were 4,142. The number of stocks that recorded a 52-week high was 192, and those that hit a 52-week low was 34. In addition, 364 stocks traded in upper circuit, while 310 hit the lower circuit. July 15, 2024 15:02Economic Indicators: WPI rises to 3.4% in June With food prices still high, producers' inflation based on Wholesale Price Index (WPI) surged to 3.4 per cent in June as against 2.6 per cent in May. July 15, 2024 15:00Stock Market News: Westlife Foodworld's subsidiary's McDonald's restaurant receives penalty notice Westlife Foodworld's subsidiary's (i.e. Hardcastle Restaurants Private Limited's) McDonald's restaurant situated at Nashik Untwadi, has received a penalty notice from Nashik Municipal Corporation. Westlife Foodworld stock trades at ₹856.35 on the BSE, up by 0.42%. July 15, 2024 14:46Share Market Today: RVNL stock rises 0.17% on NSE Rail Vikas Nigam (RVNL) has received letter of acceptance from East Coast Railway for provision of automatic block signalling system with dual MSDAC and alteration in existing El/Pl/RRI stations in the section of Jakhapura-Nergundi, Khurda Road-Bhusundpur & Bhusundpur-Golanthra over Khurda Road Division of East Coast Railway (contract worth ₹160 crore). RVNL stock trades at ₹627.80 on the NSE, up by 0.17% July 15, 2024 14:41Share Market Live Updates: Top Nifty realty stock gainers Top gainers of Nifty realty stocks: Lodha (4.51%), Phoenix Mills (2.41%), Oberoi Realty (1.39%), DLF (1.18%) July 15, 2024 14:27Stock Market Today: HCCB appoints Harsh Bhutani as CFO Hindustan Coca-Cola Beverages Pvt Ltd (HCCB), the bottling arm of Coca-Cola Company on Monday announced the appointment of Harsh Bhutani as its Chief Financial Officer. This move comes at a time when speculation is rife that the company may explore the IPO route. July 15, 2024 14:15Economic Indicators: BDR Pharma's CEO says June WPI reflects a steady rise Dheer Shah, CFO, BDR Pharma, on June WPI data: June 2024's Wholesale Price Index (WPI) reflects a steady rise with an annual inflation rate of 3.36% compared to June 2023. Comparatively, May 2024 recorded a WPI inflation rate of 2.61%, indicating a steady progression in inflationary pressures. This increase is driven by higher prices in food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, and other manufacturing sectors. It shows a consistent upward trajectory, influenced by significant price hikes across various sectors including food articles, food products manufacturing, and energy commodities. This highlights the ongoing economic shifts, necessitating strategic actions to maintain market stability and affordability. July 15, 2024 14:13Stock Market News: Sanstar Limited's IPO to open on Friday at price band of ₹90- ₹95 Sanstar Limited is one of the major manufacturers of plant-based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications (Source: Company Commissioned Frost & Sullivan Report, dated May 18, 2024), has fixed the price band of ₹90/- to ₹95/- per Equity Share of face value ₹2/- each for its maiden initial public offer. The Initial Public Offering ("IPO" or "Offer") of the Company will open on Friday, July 19, 2024, for subscription and close on Tuesday, July 23, 2024. Investors can bid for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter. The IPO consists of Fresh Issue of up to 41.80 million Equity Shares and an Offer for Sale ("OFS") of up to 11.90 million Equity Shares by the Promoter Selling Shareholders and Promoter Group Selling Shareholders. The proceeds from the fresh issue to the extent of Rs 181.55 crore will be utilized for funding the capital expenditure requirement for expansion of its Dhule Facility, Rs 100 crore for repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company and general corporate purposes. July 15, 2024 14:12Market Update: Sensex rises 249 pts; Nifty at 24,615 Sensex was at 80,768.23, up 248.89 points or 0.31% firmer. The Nifty 50 was at 24,615.55, up 113.40 points (0.46%). July 15, 2024 14:05Stock Market Live Today: Walchandnagar Industries approves ₹74 crore NCD issuance Walchandnagar Industries board has approved issuance of unlisted, secured, redeemable, Non-convertible Debentures (NCDs) on a private placement basis up to ₹74 crore. Walchandnagar Industries stock trades at ₹346.25 on the NSE, down by 0.24%. July 15, 2024 13:57Stock Market Live Today: Apple's India annual sales surge 33%, hitting a record of almost $8 billion, as China revenue slows July 15, 2024 13:56Stock Market Live Today: 80% managers predict stable budget, increased capex spending, smallcase study says A study conducted by smallcase, a leading investments platform, revealed that over 80% of smallcase managers expect status quo in the upcoming Union Budget. They expect a hike in India's planned capex spending and more budgetary allocations in areas like Infra, Power, Railways & Defence. The survey conducted with over 50 smallcase managers reveals that they expect a fiscally prudent yet expansionary budget, a continuation of the earlier policies of the NDA Government. Smallcase managers are financial experts or entities that create and manage smallcases. Over 90% of the smallcase managers in the study have predicted some near-term volatility around the budget, though the recommendation is to look at it as a buying opportunity with a long-term horizon. The smallcase managers expect Nifty reaching 25,000 levels and Sensex nearing 90,000 by the year end. Speaking on the survey, Vasanth Kamath, Founder and CEO, smallcase said, "We are thrilled to launch our inaugural smallcase managers' survey, which provides investors an early look at the opinions and expectations of the market surrounding the upcoming Union Budget. The survey offers a view on what they anticipate will happen in the equity markets, on fiscal deficit and GDP, sectors that are likely to benefit from the Budget and more. The Union Budget will impact the different themes & strategies that retail investors are taking exposure to via multiple smallcases on the platform". July 15, 2024 13:46Stock Market Live Today: 43% of equity MF schemes fail to beat benchmark indices Notwithstanding the buoyant market and record inflows, only 57 per cent or 159 open-ended equity diversified funds out of 281 have managed to beat their respective benchmark indices. According to a PL Wealth Management, a subsidiary of Prabhudas Lilladher, large -cap was the worst performer with only 10 out of 32 schemes managed to beat their benchmarks and it was followed by 55 per cent or 23 out of 42 equity linked savings schemes returning more than the benchmark indices. Read more here. July 15, 2024 13:29Stock market live updates today: BSE Sensex trades at 80,814.34, higher by 295 pts or 0.37% as at 1.26 pm July 15, 2024 13:18Stock market live updates today: Top gainers among Nifty oil & gas stocks: ONGC (3.16%), MGL (3.08%), Petronet (2.54%), GAIL (2.37%) July 15, 2024 13:12Stock market live updates today: Kellton Tech Solutions shares up by 16.28%, trading at ₹178.60. Touched 52-week high of ₹183 in the first session. Reports 2.69 times trade volumes July 15, 2024 13:11Stock market live updates today: Zen Tech launches 4 new Defence products Zen Technologies, an anti-drone technology and Defence training solutions provider, has launched four new products, enhancing defense capabilities and operational efficiency. The new products - Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640 - cater to a wide range of Defence requirements, empowering the Forces with tactical superiority and improved operational efficiency. The company worked with its Pune-based AI Turing Technologies to develop these products. "Hawkeye is an anti-drone system camera capable of all-weather drone tracking up to 15 km, while Barbarik-URCWS is a light-weight remote-controlled weapon station, offering precise targeting for ground vehicles and naval vessels," a company executive said in a statement on Monday. The third product, Prahasta is an automated quadruped equipped with LIDAR and reinforcement learning for real-time 3D terrain mapping and mission planning. The quadruped can be used as the first line of defence for commandos during counter-insurgency operations like 26/11, thereby saving lives. July 15, 2024 13:10Stock market live updates today: SIS stock declines 1.11% on NSE; company completes secondary investment of ₹2.17 crore in accordance with the share subscription pact SIS stock declines 1.11% on the NSE, trading at ₹441.80. Company had completed the secondary investment of ₹2.17 crore in accordance with the share subscription agreement signed with Agarsha Senior Care (Agarsha) on March 28. Consequently, the company has completed the acquisition of 1,96,962 equity shares from the existing shareholders as a secondary investment in Agarsha. July 15, 2024 13:08Stock market live updates today: Alembic Pharmaceuticals stock trades higher on NSE; gets USFDA approval for injections to treat pulmonary arterial hypertension Alembic Pharmaceuticals stock trades at ₹988.50 on the NSE, up 1.33%. Company had bagged tentative approval from the US Food and Drug Administration for injections to treat pulmonary arterial hypertension. July 15, 2024 13:06Stock market live updates today: Lupin stock rises 1.57% on NSE, trading at ₹1,825.90. Company gets Establishment Inspection Report from USFDA for its Dabhasa facility in Gujarat July 15, 2024 13:04Stock market live updates: Shantai Industries stock tanks 4.99% on BSE, trading at ₹35.64; inks loan agreement with Karma Trendz for an Inter Corporate Loan worth ₹75 lakh July 15, 2024 13:02Stock market live updates: Signature Global stock at ₹1,506.30 on NSE, down by 0.43%. The company is to launch housing projects with revenue potential of ₹13,000 crore by March July 15, 2024 13:00Stock market live updates today: Avenue Supermarkets stock trades at ₹4,986.65 on NSE, up 0.87% on 17.5% rise in net profit in the June quarter and 19% rise in revenue July 15, 2024 12:59Stock market live updates today: Sterling Holiday Resorts opens Sterling Aravalli Udaipur, in Rajasthan. Thomas Cook (India) stock trades at ₹252.91 on NSE, up 0.42% July 15, 2024 12:59Stock market live updates: Study finds 57% of mutual funds outperformed their respective benchmarks over the past one month, ended June 30 A study by PL Wealth Management, a subsidiary of Prabhudas Lilladher, has found 57 per cent of mutual funds outperformed their respective benchmarks over the past one month, ended June 30. The study was conducted among 281 open-ended equity diversified funds; 159 outperformed the benchmark in June, it said. July 15, 2024 12:41Stock market live updates today: Ashok Leyland bags its largest order for fully-built buses from MSRTC Ashok Leyland, India's second largest medium and heavy commercial vehicle player, has secured what the company calls the "single largest fully built bus order" from the Maharashtra State Road Transport Corporation (MSRTC) for an undisclosed sum. Read more July 15, 2024 12:32Stock market live updates today: Zinc: Range bound. Wait for a breakout to take trades Zinc prices have been stuck in a sideways range over the last couple of weeks. The Zinc Futures contract on the Multi Commodity Exchange (MCX) has been oscillating in a range of ₹259-₹286 for more than two weeks now. Within this range, the contract is now trading at ₹273 per kg. Read more July 15, 2024 12:19Stock market live updates today: Bank Nifty Prediction Today - July 15, 2024: Range-bound and unclear. Stay out of the market Bank Nifty index is trading flat. The index has been struggling to breach 52,800 for more than a week. It is currently trading marginally down at 52,260. The advances/declines ratio is at 6:6. This gives a mixed picture. It indicates that the index can go either way from here. Read more July 15, 2024 12:16Stock market live updates today: Sai Life Sciences files IPO papers with SEBI; aims to raise Rs 800-cr via fresh issue July 15, 2024 12:16Stock market live updates today: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, on impact of Trump assassination attempt on global markets "The assassin attempt on Trump will have a near-term positive impact on safe assets like gold and dollars. For the medium term, this reinforces Trump's chances of victory in the November elections and therefore, the 'Trump trade' is likely to gather momentum on expectations of rate cuts and liberalisation of the regulatory framework. However, if Trump wins the elections and imposes hefty tariffs on imports from China, it is likely to trigger a trade war with China which has the potential to impact global trade and global growth." July 15, 2024 12:13Stock market live updates today: Top gainers and losers on the NSE at 12 noon Top gainers: ONGC (2.61%), NTPC (2.57%), Bajaj Auto (2.26%), Shriram Finance (1.90%), SBI (1.70%) Top losers: Grasim (-1.71%), Asian Paints (-0.90%), Tata Steel (-0.69%), LTIMindtree (-0.57%), Tata Consumer Products (-0.37%) July 15, 2024 12:12Stock market live updates: BSE snapshot at 12 noon: Of a total of 4,005 stocks traded on the BSE at 12 noon on July 15, 2024, 2,016 advanced against 1,823 stocks that declined; 115 stocks remained unchanged. 252 stocks recorded a 52-week high, and 32 hit a 52-week low. In addition, 299 stocks traded in the upper circuit, while 275 hit the lower circuit. July 15, 2024 12:09Stock market live updates: Varun Beverages board approves foray into Africa; stock gains on NSE Varun Beverages board has approved following agreements: (i) Varun Foods (Zimbabwe) (Private) Limited (wholly-owned subsidiary of the Company) and Premier Nutrition Trading LLC, Dubai (subsidiary of PepsiCo Inc.) to manufacture, distribute & sell snacks "Simba Munchiez" in the territory of Zimbabwe on or before October 1, 2025. (ii) Varun Beverages (Zambia) Limited (subsidiary of the Company) and Premier Nutrition Trading LLC, Dubai (subsidiary of PepsiCo Inc.) to manufacture, distribute & sell snacks "Simba Munchiez" in the territory of Zambia on or before April 1, 2026. VBL stock rose 1.29% on the NSE, trading at ₹1,605. July 15, 2024 12:07Stock market live updates today: Philip Capital recommends selling IREDA stock Philip Capital has recommended selling IREDA stock for 54% downside on the basis that the rally is driven by passive flows and not any major fundamental reason & that the best is already priced into the stock. High exposure to the private segment undermines confidence. ROA to decline. Govt holds 75% equity. Target price Rs 130 July 15, 2024 12:04Stock market live updates: Hindalco Industries board approves sale of land in Kalwa, Maharashtra, to Birla Estates; Hindalco Industries stock moves up on NSE Hindalco Industries board has approved a proposal for sale of land situated at Kalwa, Maharashtra, to Birla Estates Pvt Ltd. The transaction will be entered into with Ekamaya Properties Private Limited, a wholly owned subsidiary of Birla Estates Private Limited [instead of Birla Estates Private Limited]. Hindalco Industries stock trades at ₹698.40 on the NSE, up 0.92% July 15, 2024 11:57Stock market live updates: Nephro Care India inaugurates 100-bed Vivacity Multispecialty Hospital in Kolkata Nephro Care India Ltd (NCIL), inaugurated a 100-bedded multispeciality hospital Vivacity Multispecialty Hospital at Madhyamgram in Kolkata, West Bengal on Sunday. The total investment on the project is estimated to be close to Rs 36.51 crore. Of this, Rs 26.17 crore would come from the net proceeds of the IPO and the remaining would be funded through internal accruals. The hospital, a unit of Nephro Care India, will have 100 inpatient beds, including a 30-bed Critical Care unit having ICU, HDU, RTU and NICU facilities. Vivacity will offer treatment services in various disciplines such as cardiology, medical oncology, gastroenterology, gynaecology and many others, including an advanced renal transplant unit in East India. It will be the first-of-its-kind hospital in the eastern region boasting of AI-enabled smart OTs and ICU. July 15, 2024 11:53Stock market live updates: Wealthmills Securities China's GDP growth slowed more than expected in Q2CY24 to 4.7% (est.: 5.1%) and 5.3% growth noted in Q1. Weakness in property sector and jobs scarcity, dented domestic demand. Even retail sales growth eased in Jun'24, to 2% (est.: 3.3%) from 3.7% in May'24. Industrial production (5.3% in Jun'24 versus 5.6% in May'24) and FAI growth (3.9% in H1 versus 4% between Jan-May'24) too noted moderation. Investors are now expecting announcement of government measures, to stimulate demand. Separately in the US, PPI inched in Jun'24 to 2.6% (est.: 2.3%) from 2.2% in May'24. Core PPI also rose, signalling underlying price pressures. However, with CPI under control, investors continue to expect Fed to cut rates in Sep'24. In India, CPI inflation rose to 5.1% in Jun'24 up from 4.75% in May'24, led by higher food prices. IIP growth improved to 5.9% in May'24 from 5% in Apr'24.* Except Nikkei (lower) and Shanghai Comp (flat), other global indices ended higher. US stocks closed in green amidst growing expectations of rate cut as given the moderation in CPI print. Hang Seng continued to climb higher. Sensex surged by 0.8% supported by strong gain in IT stocks. It is trading higher today, while Asian stocks are trading lower. July 15, 2024 11:49Stock market live updates today: Goldman Sachs appoints Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of investment banking in India Sunil Khaitan has joined as a managing director and head of financing July 15, 2024 11:47Stock market live updates today: Zomato stock rose 2.41% on the NSE, trading at ₹227.84. Stock has hit a 52-week high today at ₹232. July 15, 2024 11:42Stock market live updates today: BSE Sensex rose 207.00 pts or 0.26% to trade at 80,726.34 as at 11.40 am. July 15, 2024 11:42Stock market live updates: Piramal Pharma stock gains on NSE, USFDA inspects its Ahmedabad facility with No Action Indicated designation Piramal Pharma stock rises 1.63% on the NSE, trading at ₹153.56. Company had informed that the USFDA conducted a Pre-Approval Inspection (PAI) of Piramal Pharma's PPDS Ahmedabad facility from July 10 to July 12 and issued Form - 483 with zero observations and No Action Indicated (NAI) designation. July 15, 2024 11:30Stock markets live updates today: Apollo Micro Systems stock hits upper circuit at ₹109.76 on the NSE, secures Defence Ministry project Apollo Micro Systems stock has hit the upper circuit at ₹109.76 on the NSE, higher by 4.99% on securing Make II project from Directorate-General of AAD, IHQ of the Defence Ministry (Indian Army). July 15, 2024 11:21Stock market live updates today: Stocks that hit a 52-week high on the NSE: Keynote Financial Services (20%), Godfrey Phillips (13.02%), MTNL (12.49%), IFCI (11.04%), Route Mobile (7.94%) July 15, 2024 11:20Stock market live updates: Ashok Leyland bags ₹981.45-crore order for 2,104 fully built buses from MSRTC; stock edges up on NSE Ashok Leyland bags largest order of 2104 fully built buses from Maharashtra State Road Transport Corporation, contract worth approx ₹981.45 crore. Stock rose 1.55% on the NSE, trading at ₹227.74. July 15, 2024 11:17Stock market live updates: Top gainers and losers on the BSE at 11 am Top gainers: Godfrey Phillips (13.67%), IFCI (12.34%), JK Tyre (10.98%), Tanla (10.48%), VTL (7.63%) Top losers: SCI (-4.56%), Brigade (-3.16%), Paisalo (-3.10%), Welcorp (-3.09%), GRSE (-3.09%) July 15, 2024 10:55Stock Market Live Today: HDFC AMC to report strong growth in Q1 The board of HDFC Asset Management Company will be meeting on Monday to consider and approve the June quarter's financial performance. Analysts are expecting a 10 per cent increase in quarter-on-quarter AUM in Q1 FY25 for the domestic MF business, reconsidering a sharp rally in the equity market and benchmark indices. July 15, 2024 10:44Stock market live updates today: Macrotech Developers stock up 1.55% on NSE; company acquires 3 land parcels in the Mumbai region and Pune Macrotech Developers stock rose 1.55% on the NSE, trading at ₹1,417.45. Company had acquired three land parcels in the Mumbai region and Pune during the April-June quarter to develop projects with a revenue potential of more than ₹11,000 crore. July 15, 2024 10:42Stock market live updates today: Top gainers among Nifty Bank stocks: Bank of Baroda (1.04%), PNB (1.03%), SBI (1.02%), Bandhan Bank (1%) July 15, 2024 10:35Stock market live updates: Nifty Prediction Today - July 15, 2024: Bullish. Go long now and also on dips Nifty 50 is managing to hold higher. The index opened with a gap-up at 24.587 and has come-off slightly from the intraday high of 24,598. Read more July 15, 2024 10:34Stock market live updates: Nifty Pharma up 1.1% at 20,839.70; top gainers include Aurobindo Pharma (3.66%), Alkem Laboratories (3.47%), Abbott India (2.57%), Natco Pharma (1.88%) July 15, 2024 10:32Stock market live updates: Jupiter Wagons raises ₹800 crores through a Qualified Institutional Placement, which was over subscribed 3.5 times. July 15, 2024 10:22Stock market live updates: Sunteck Realty sale bookings up 30% at ₹502 crore for April-June FY25; stock declines on NSE Sunteck Realty Ltd posted a 30% increase in its sale bookings to ₹502 crore for April-June FY25, driven by strong housing demand. However, stock declined by 1.92% on the NSE, trading at ₹572.70. July 15, 2024 10:20Stock market live updates: Dilip Buildcon transfers 26% stake in wholly-owned arm Viluppuram Highways to Alpha Alternatives Holdings; stock declines on NSE Dilip Buildcon has transferred 26% stake in its wholly-owned subsidiary company viz. Viluppuram Highways Ltd, held by the company (in the form of Equity Shares) to Alpha Alternatives Holdings Pvt Ltd. DBL stock declines by 1.17% on the NSE, trading at ₹528.55. July 15, 2024 10:05Stock market live updates: Gold eases, investors seek more cues on US Fed's rate path Gold prices dipped on Monday as the dollar held firm, while investors awaited comments from Federal Reserve officials and economic data for further cues on US interest rate trajectory. Read more July 15, 2024 09:55Stock market live updates: IREDA stock surges on NSE, hits 52-week high at ₹310; reported over 30 per cent growth in net profit at ₹383.69 crore in June quarter IREDA stock jumps 5.15% on NSE, trading at ₹298.91. Stock has hit a 52-week high at ₹310 today. Company on Friday reported an over 30 per cent growth in its net profit to ₹ 383.69 crore for the June quarter, mainly on the back of higher revenues. July 15, 2024 09:52Stock market live updates: SRM Contractors inks contract with NHAI for ₹278.48 crore; stock surges on NSE SRM Contractors has inked an agreement for an EPC Project of NHAI (National Highway Authority of India) for an aggregate quoted price of ₹278.48 crore. SRM Contractors stock surges 4.72% on the NSE, trading at ₹218.40. July 15, 2024 09:49Stock market live updates today: Mishtann Foods records ₹382.67 crore revenue from operations in Q1 FY25 as against ₹293.95 crore in Q1 FY 24 Stock declined by 4.70%on the BSE, trading at ₹17.05. July 15, 2024 09:46Stock market live updates today; Zen Technologies introduces four AI-powered robots for global defence market; stock surges 4.69% on NSE, trading at ₹1,356.95 July 15, 2024 09:44Stock market live updates: GE T&D India Ltd gets order from Power Grid Corporation; stock rises on NSE GE T&D India Ltd has received an order from Power Grid Corporation of India Ltd for supply, installation, testing, commissioning and maintenance of SCADA/EMS Control Centres (base price ₹490 crore). GE T&D India stock rose 2.58% on the NSE, trading at ₹1,721.50. Stock has hit a 52-week high today at ₹1,762 July 15, 2024 09:39Stock market live updates today: Researchbytes Analyst App https://play.google.com/store/apps/details?id=com.intelegain.rb Conference call Replay available in Various speeds ! Researchbytes Events Update As of 09:30 AM Monday 15 July 2024 Can set alert for them at www.researchbytes.com 4:00 PM Bank of Mah Dial: 022 6280 1102 Weblink: https://tinyurl.com/4ndjk4rm 5:00 PM HDFC AMC Dial: +91226280 1551 Weblink: https://tinyurl.com/yc3eecbw 6:00 PM HDFC life Insur Dial: +91 22 6280 1406 Weblink: https://tinyurl.com/58rxpy8r 7:00 PM Jio Financial Weblink: https://tinyurl.com/42spymbw HCL Tech : (replay) https://www.researchbytes.com/webcast.aspx?WID=305070 GTPL Hathway : (replay) https://www.researchbytes.com/webcast.aspx?WID=305066 Star Housing Fin : (replay) https://www.researchbytes.com/webcast.aspx?WID=305068 Anand Rathi Wealth : (replay) https://www.researchbytes.com/webcast.aspx?WID=305045 TCS : (replay) https://www.researchbytes.com/webcast.aspx?WID=305017 JTL Infra : (replay) https://www.researchbytes.com/webcast.aspx?WID=304997 Tata Elxsi : (replay) https://www.researchbytes.com/webcast.aspx?WID=304988 Shalby : (replay) https://www.researchbytes.com/webcast.aspx?WID=304899 Shilpa Antibiotics . : (replay) https://www.researchbytes.com/webcast.aspx?WID=304797 eMudhra : (replay) https://www.researchbytes.com/webcast.aspx?WID=304630 Results today ... https://www.researchbytes.com/Default.aspx?cc=result Recent interviews ... https://www.researchbytes.com/Default.aspx?cc=interview Replays available at www.researchbytes.com July 15, 2024 09:38Stock market updates today: Top gainers and losers on the NSE at 9.30 am Top gainers: HCL Technologies (3.06%), ONGC (1.71%), Shriram Finance (1.39%), Bajaj Auto (1.13%), Ultratech Cement (1.12%) Top losers: Tata Steel (-1.57%), Asian Paints (-1.14%), Grasim (-0.98%), Tata Consumers (-0.64%), LTIMindtree (-0.56%) July 15, 2024 09:25Stock market live updates: BSE Sensex traded at 80,707.03, higher by 187.69 pts or 0.23% as at 9.20 am, and Nifty 50 traded at 24,560.90, up by 58.75 pts or 0.24%. July 15, 2024 09:25Stock market live updates: Deepak Jasani, Head of Retail Research at HDFC Securities, on Indian market trend today U.S. stocks closed higher Friday after paring gains in the final stretch of trading, with all three major indexes rising for the week. The big three indexes soared higher on Friday, as an "everything rally" continued to take hold in the wake of encouraging inflation data. Stocks lost some momentum in the final half-hour of trading, but still closed solidly higher. For the week, the Dow climbed 1.6% and the S&P 500 gained 0.9%, each. The technology-heavy Nasdaq booked a 0.2% weekly rise, increasing a sixth straight week for its longest winning streak since December, according to Dow Jones Market Data. US PPI Index for June showed core prices were unchanged last month, compared with a 0.2% increase expected by economists polled by FactSet. Headline prices rose 0.2%, surpassing expectations for a 0.1% increase. Consumers' optimism about the economy fell to an eight-month low in July over frustration with high prices, even though they expect inflation to slow over the next year. The first reading of the consumer sentiment index in July dropped to 66.0 in July from 68.2 in June, the University of Michigan said Friday. It was the fourth decline in a row and the weakest reading since November. India's retail inflation rose to four-month high of 5.08 percent in June compared with 4.75 percent in the previous month as food inflation galloped to 9.4 percent given the impact of heatwave on vegetables. Inflation had dipped to a 12-month low of 4.75 percent in the previous month, despite food inflation hovering around 8.7 percent. The industrial output growth in India surprised in May rising to a seven month high of 5.9 percent from 5 percent in the previous month, as manufacturing and electricity production soared, according to the official data released on July 12. A CNBC-TV18 poll had pencilled in an IIP growth of 4.6 percent, lower than what was reported a month ago. Electricity growth soared to 13.7 percent in May compared with 10.2 percent in April, while manufacturing, which accounts for nearly two-thirds of the index, was up 4.6 percent in May from 3.9 percent earlier. China's imports fell in June, missing expectations for slight growth, while exports rose more than expected, customs data released Friday showed. China's imports fell by 2.3% in June from a year ago in U.S. dollar terms. That contrasts with a forecast of 2.8% growth, according to a Reuters poll. U.S. dollar-denominated exports for June climbed by 8.6% year on year, beating expectations for 8% growth forecast by a Reuters poll. Analysts expect the upcoming Third Plenum in China to focus on areas -- such as high local government debt levels and a push for advanced manufacturing. The much-anticipated policy meeting, scheduled for Monday to Thursday, is a major gathering of the top members of the ruling Communist Party of China that typically happens only once every five years. This plenum was widely expected to be held last fall but has been delayed. Chinese bank lending jumped less than expected in June while some key money gauges hit fresh record lows, highlighting weak demand in the world's second-largest economy as the country's top leaders prepare to meet to lay out longer-term policy goals. U.S. stock-index futures saw a modest rise Sunday night, as financial markets opened for the week following an apparent assassination attempt on former President Donald Trump a day earlier at a campaign rally. Traders took stock of the likelihood of Donald Trump winning the US presidential election after an assassination attempt. China's central bank left... [9:18 am, 15/7/2024] +91 87791 76561: Today's Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities: In the past week, the benchmark indices showed positive momentum, with the Nifty ending 0.73 percent higher and the Sensex gaining 522 points. The FMCG and IT sectors recorded strong momentum, both rallying over 3 percent. However, the Metal and Reality sectors experienced selling pressure despite the overall market momentum. Technically, after a period of range-bound activity last Friday, the Nifty surpassed the 24400/80100 resistance zone and demonstrated increased positive momentum post-breakout. We believe that 24400/80100 and 24350/79800 would be crucial support levels for trend-following traders. On the higher side, 24550-24600/80100-80200 would serve as the resistance zone. A close above 24650 could drive the market towards 24900-25000/81000/81300. Conversely, dropping below 24350/79800 could alter the sentiment, leading to a retest of the level of 24150-24100/79500-79100, a major support zone of the last two weeks and 20 days SMA. The strategy should be reducing weak long positions between 24550/24600 levels. Buying is advisable around 24250/24200, with a stop loss at 24100 on a closing basis. Our advice is to wait for a deeper correction before buying. Until then, focus on specific stocks. For the Bank Nifty, a 20-day SMA (Simple Moving Average) or 52100 would be the pivotal level for determining the trend. Staying above these levels could prompt an upward movement towards 52800-53500. Conversely, dropping below 52100 could make the uptrend vulnerable, potentially leading to a fall to 51500 levels. July 15, 2024 09:22Stock market live updates: Aditya Gaggar, Director of Progressive Shares The Index is in a strong uptrend and one should opt for buy on dips strategy. With the overbought conditions in the Auto sector, we recommend booking profits; however, selective buying can be seen in the Ancillary space. We are bullish on ONGC and Reliance from the Energy space. The FMCG and IT sectors have given a breakout from a Cup and Handle formation which indicates an extension of the current up-move (Colpal and Dabur- Breakout, GodrejCP- Flag Breakout, ITC- on the verge of a massive Flag and Pole formation breakout, and Nestle-Pennant and Pole Breakout, Tech Mahindra- Flag and Pole Breakout, and Wipro- Symmetrical Triangle Breakout). We are bullish on the Pharma sector but it is approaching the higher end of the rising channel indicating a short-term reversal in the form of profit booking, however, the overall uptrend remains intact. Some stocks from the Textile segment have given a strong breakout: Cantabil (Symmetrical Triangle Formation), and Welspun Living (Cup and Handle Formation). July 15, 2024 09:14Stock market live updates: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services "The global support for the market rally in India continues. It is important to understand that the US is leading this rally with 18.4% returns YTD in S&P 500 compared with 12.7% YTD returns in Nifty. Latest inflation data in the US indicates a rate cut by the Fed in September. This is likely to keep the US market buoyant with positive impact in India, too. However, valuations in India are moving to elevated levels. Investors have to be cautious about the excessive valuations in the momentum stocks which are moving to frothy levels. IT results from TCS and HCL Tech indicate improving prospects which the market is discounting now. But the growth projections of IT companies remain low and, therefore, a sharp restart from the present levels is unlikely. Financials remain the fairly valued segment of the market. Decline in US 10-year bond yield is positive for FII inflows." July 15, 2024 09:14Stock market live updates: Vikas Jain, Senior Research Analyst at Reliance Securities Focus Today (Trend Positive - Gift Nifty is up 80 points 0.4% - focus on IT stocks - FIIs over Rs4000cr net buyers and Net direct tax collection grow 24%. HDFC Life an HDFC AMC results. ) - US market closed record high and Dow closed above 40000 mark on rate cut expectation by the US Fed. Direct Expect rally on IT stocks to continue after Nifty IT majors TCS and HCL Tech announced better than expected Q1 results. Net direct tax collections grew over 24% touching Rs 5.74 lakh crore till July 11. ADR/GDR - Wipro up 3%. Infosys up 2.5%. Both L&T and Axis Bank rose 1% each. Both Goldman Sachs and Morgan Stanley results this week. ECB meeting, Fed chairman speech, US retail sales and political trend in US following attack on Trump. Today's Market Outlook - Better than expected both HCL Tech and TCS results, solid net direct collection, rate cut hope lifted US market to record high and consistent FIIs buying interest in the domestic market, may open equity market on a strong note. Gift Nifty is up 102 points or 0.4%. Previous day, solid buying interest in IT stocks lifted the Nifty nearly 1% to close at a record high. FIIs were net buyers over Rs4000cr on Friday. Sentiment is positive not only in the domestic market but also across global markets. The cooling of US June inflation data and dovish commentary by the US Fed Chairmen in the US Congress imply a potential rate cut in September. As a result, the US 10-Year Bond Yield fell to a 1-month low of 4.18% from a recent high of 5.2%. The US Dollar Index also dropped to a 1-month low at the 104 level. US markets, as well as European and Asian markets, have reacted positively. The Dow Jones closed above the critical 40,000 level. Both the Nasdaq and S&P 500 reached record highs after JP Morgan and Citi group announced impressive quarterly results. Domestic Market Trend and sector to be focus - Expect a rally in tech stocks to continue after TCS and HCL Tech announced good quarterly results. IT stocks had underperformed compared to other sectors due to poor earnings in the past few quarters. A favourable risk-reward ratio and strong quarterly results may positively impact IT stocks. Defense stocks may also see positive movement as the government focuses on domestic players to support the 'Make in India' initiative. Expect positive for RAIL, metal, PSU, housing finance and fertilizer sectors. Gold -- Gold edged lower by 0.5% to $2403/ounce on Monday as the dollar strengthened following an attempted assassination attempt on former US president and Republican contender Donald Trump over the weekend.. Brent Crude - Crude oil declined 1% to $85/bbl as concerns about weaker U.S. consumer sentiment outweighed rising hopes for interest rate cuts in September July 15, 2024 09:12Stock market live updates: Market quote from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services "The global support for the market rally in India continues. It is important to understand that the US is leading this rally with 18.4% returns YTD in S&P 500 compared with 12.7% YTD returns in Nifty. Latest inflation data in the US indicates a rate cut by the Fed in September. This is likely to keep the US market buoyant with positive impact in India, too. However, valuations in India are moving to elevated levels. Investors have to be cautious about the excessive valuations in the momentum stocks which are moving to frothy levels. IT results from TCS and HCL Tech indicate improving prospects which the market is discounting now. But the growth projections of IT companies remain low and, therefore, a sharp restart from the present levels is unlikely. Financials remain the fairly valued segment of the market. Decline in US 10-year bond yield is positive for FII inflows." July 15, 2024 09:11Stock market live updates: Vikas Jain, Senior Research Analyst at Reliance Securities NIFTY-50 OUTLOOK NIFTY-50 has witnessed a breakout above 24,400 levels and could test the higher range of 24,650 levels on the higher side from its 250-point range breakout. f The breakout of 24,400 levels from its inside range has extended the up move as expected and now on the downside 23,300 will be the reversal point. f RSI is reversing from its average line, and crossover of the same would confirm a strong uptrend in the coming days. f Highest call OI has moved higher to 24,500 strikes while the downside the highest put OI is at 24,000 for the weekly expiry. BANK NIFTY OUTLOOK Bank Nifty remained flat to positive holding its 20-day average with key supports at 51,800 and PSU Banks could lead the up move. f The 20-day average at 51,900 will be a strong support for the up move and on the higher side 52,800 will be a strong resistance from current levels. f RSI is moving higher from its average line and other key technical indicators are positively poised on multiple time frames. f Bank Nifty highest call OI is at 53,000 levels while on the downside put OI is at 52,000 levels for the weekly expiry July 15, 2024 09:10Stock market live updates: Nomura Securities retains 'Buy' recommendation on HCL Technologies Nomura Securities has retained 'Buy' recommendation on HCL Technologies with the software company on track to achieve its FY25 revenue growth guidance In 1Q FY25, slight beat to estimates. HCLT's 1QFY25 revenue of $3,364mn (-1.6% q-q, +5.6% y-y) in constant currency was slightly ahead of the consensus estimate of a 1.9% qoq decline. IT Services and Engineering & R&D Services declined 1.5% and 3.5% qoq, respectively, while Products and Platforms was up 0.4% qoq, in cc terms. Net new deal wins at $1.96bn were up 22.5% yoy. EBIT margin of 17.1% (-50bp q-q, +10bp y-y) was broadly in line with the consensus estimate of 17%. Other income included a $70mn one-time income from State Street JV divestment. EPS at Rs 15.7 was up 20% yoy. Retains FY25E revenue growth guidance of 3-5% in cc. HCLT has retained its 3-5% y-y revenue growth guidance for FY25E in cc terms, which does not factor in an improvement in discretionary demand vs FY24. HCLT notes that it is seeing certain signs that discretionary demand may have bottomed out, but it is too early to call with certainty. In our recent India IT Services Sector report, we highlight that discretionary demand is unlikely to worsen further based on our proprietary G2000 database.. July 15, 2024 09:10Stock market live updates: HCL Technologies HCL Technologies (HCLT) reported a decent performance in 1QFY25. Revenue stood at USD3.3b, down 1.6% QoQ in constant currency (CC) vs. our estimate of a 1.8% decline. In USD terms, revenue reported growth of 5.1% YoY (5.6% YoY in CC), which was in-line with our estimates. EBITDA witnessed QoQ de-growth of 3.9% but increased 7.4% YoY to INR59b (1.8% above our est. of INR58b). EBIT margins came in 30bp ahead of our estimate at 17.1%. PAT grew 7% QoQ/20.5% YoY to INR43b (13% above our est. of INR38b). New deal TCV stood at USD1.9b (down 14.4% QoQ/up 25% YoY). HCLT maintained its FY25 revenue growth guidance at 3-5% YoY in CC (3-5% YoY in CC for Services). We expect HCLT's margins in IT services to recover in the next three quarters; however, there is an overhang of wage hikes for the year. We expect HCLT to deliver 18.3% EBIT margin in FY25, which should recover to 18.6% in FY26 as growth improves. We expect HCLT to deliver a CAGR of 7.2%/9.6% in USD revenue/INR PAT over FY24-26E.  Our positive view on HCLT remains tethered to its business profile, which should continue to benefit in the current macro environment. Its investments in next-gen platforms also position the company well for a recovery in client spending.  We keep our estimates unchanged. Reiterate BUY with a TP of INR1,850 (based on 27x FY26E EPS). HCLT remains our top pick in large cap IT. July 15, 2024 09:09Stock market live updates: Corporate events Apollo Micro: Company is shortlisted keeping in view the capability and was awarded make ii project by the Indian army, this project is for the procurement of a vehicle mounted counter swarm drone system. EMS: Company gets LoA for project worth ₹141 cr from Uttarakhand Power Corporation LUPIN: U.S. FDA inspection at Dabhasa manufacturing facility in Gujarat closes with no observations. Piramal Pharma: U.S. FDA's pre approval inspection at Ahmedabad manufacturing facility in Gujarat closes with no observations. Cipla: Company has been classified as Voluntary Action Indicated by the USFDA for its manufacturing facility in Kurkumbh, Maharashtra, India. Alembic Pharma: Company gets tentative U.S. FDA approval for Selexipag injection Sunteck Realty: Company's Q1FY25 pre-sales at Rs 502 crore, up 30% year-on-year. Plastiblends: Net profit up 42.1% at ₹10.8 cr vs ₹7.6 cr, Revenue up 8.1% at ₹211.6 cr vs ₹195.7 cr (YoY) Infosys: Company foundation USA joins forces with congressional app challenge to champion stem education RVNL: Company gets LOA from central railway worth 1.33b rupees GTPL Hathway: Received permission from Ministry of Information and Broadcasting for providing Headend-In-The-Sky (HITS) Services GE T&D India: Company has received of order from Power Grid with basic price 490 Cr INR Sterlite Technologies: Crosses milestone towards its Global Services Business demerger Central Bank: Entered in co-lending partnership with Arka Fincap to offer MSME loans Marico: In medium term, company aims to deliver double-digit revenue growth. Godrej CP: Company announced that It has developed 'renofluthrin' - A Patented Mosquito Repellent Molecule and Has Integrated It into Its Household Insecticide Product Deep Industries: Company gets a contract worth Rs 82 crore from ONGC to charter hire 100MT and 150MT workover rigs contract for 3 years each PayTM: Investor Akash Bhanshali name appear with 1.21% stake in during Q1 HCL Tech: Company's executive said that expect good deal bookings in next few quarters ISMT: Investor Mukul Mahavir Agrawal Increase stake by 1.05% during Q1. ZenTech: Company introduces AI-powered robots, unveils 4 products for the global defense market Manaksia: Company updated regarding recognition by Ministry of Commerce & Industry as three star export house Apcotex Industries: Company has resumed normal operations at its Taloja, MIDC plant. Tanla Platforms: Company has partnered with a Global Tech Major to use Wisely ATP to combat scams on their messaging platform by identifying fraudulent phone numbers. Macrotech: Company acquires three land parcels in Mumbai region and Pune for projects with revenue potential of over Rs 11,000 crore. Hind Petro: Moody's Ratings upgrades HMEL's CFR to Ba1; outlook stable. BEPL: Net profit up 5.6% at ₹53.4 cr vs ₹50.5 cr, Revenue up 15.4% at ₹340 cr vs ₹294.5 cr (YoY) Indusind Bank: Board Meeting on July 19 to Consider Proposal Relating to Issuance of Long Term Bonds/debt Securities. ZOMATO: Company unit Zomato Slovakia s.r.o., situated in slovak republic has been dissolved w.e.f. July 12, 2024 Oriental Hotels: Net Profit at Rs 3.6 cr vs Rs. 12.20 cr (YoY), Revenue at Rs 81.4 cr vs Rs 91.9 cr (YoY) Shoppers Stop: Company says as of now, no tie-up is done with Aditya Birla group's luxury store Taal Enterprises: Equity intelligence India private limited increased stake by 0.20% in co during Q1 Tata Steel: Fitch revises outlook on Tata steel to negative from stable; affirms at 'BBB-'. July 15, 2024 09:08Stock market live updates; ICICI Securities on markets today The benchmark Sensex and Nifty indices are likely to open positive as trends in the GIFT Nifty indicate a higher start for the broader index. Asian markets were trading higher. US markets closed higher on Friday, with the S&P 500 and Dow Jones Industrial Average hitting intraday record highs, on bets that the U.S. Federal Reserve will cut interest rates in September. The S&P 500 climbed 0.55% to end the session at 5,615.35 points. The Nasdaq gained 0.63% at 18,398.45 points, while the Dow Jones Industrial Average rose 0.62% to 40,000.90 points. Indian benchmark indices rose to record highs on Friday lifted by a solid rally in information technology (IT) stocks. The BSE Sensex hit surged nearly 1,000 points intraday to hit a record high of 80,893.5, while the Nifty50 zoomed to 24,592. July 15, 2024 09:07Stock market live updates: Kalyan Jewellers: Growth-focused strategy backed by franchise-led expansion - KALYAN's hyperlocal strategy continues to drive its success in new markets, with fast learning and better preparation for competition. The company is confident in its expansion plans, targeting 80 new stores annually through its FOCO model, enhancing store-level execution and franchise participation. - Leveraging local consumer preferences, KALYAN has built strong entry barriers and deep community connections. Its asset-light approach aims to reduce leverage, with plans for 80 new FOCO stores in India and six internationally by FY25. Effective localized marketing and innovations drive customer engagement, while strong financials and debt reduction efforts underpin growth. - With a 29% CAGR over FY21-FY24, KALYAN aims for further expansion and improved return ratios. The company will further improve its balance sheet and return ratios. The near-term underlying growth for KALYAN is also stronger than peers. Reiterate BUY with a TP of INR570 (based on 45x Jun'26E EPS). July 15, 2024 09:06Stock market live updates: Pre-opening market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd This Wednesday, July 17th, the stock markets will be closed in observance of Muharram. Key catalysts for the day include the release of WPI inflation numbers and Federal Reserve Chair Jerome Powell's speech on July 15th. The FOMO rally remains strong, with India projected to become the world's second-largest economy by 2031, the Dow Jones surpassing 40,000, and a 93% chance of a Fed rate cut in September. FIIs were net buyers of Rs. 3,844 crores last week. For Nifty, the preferred trade is to buy at 24,502 with a stop at 24,101, targeting 24,650/24,751. For Bank Nifty, buy at 52,279 with a stop at 51,451, targeting 52,500/53,100. Bullish stocks include IRCTC, Zydus Life, and Torrent Pharma. July 15, 2024 09:06Stock market live updates: Pre-market views by Avdhut Bagkar Technical and Derivatives Analyst, StoxBox The US market ended higher on Friday as large-cap stocks rebounded from steep losses in the previous session on expectations of Fed rate cuts. Investors shrugged off data that showed US producer prices increased slightly more than expected in June amid a rise in the cost of services. According to gross domestic product data, China's economy grew less than expected in the second quarter, as weak consumption largely offset a fledgling recovery in manufacturing activity and industrial production. Indian market looks set to open slightly higher on Monday as investors react to positive global cues and the return of foreign inflows. Investors will be cautiously watching out for the next set of quarterly results, which may influence sentiment, with IT majors Infosys and Wipro as well as heavyweights including Reliance Industries, Asian Paints and UltraTech Cement among the prominent companies due to unveil their financial results in the truncated week ahead. During the past six weeks, the Nifty 50 index has consistently ended with gains, showing a firm uptrend in the markets. Despite some intraday fluctuations, the overall trend has been upward. Based on options data, the resistance points are expected to shift higher towards 24700-24800 levels, with 24500 being a crucial level to monitor. It's important to note that the markets have significantly deviated from their mean, so it's essential to focus on locking in profits at higher levels and strategically rotating stocks to stay invested in those with strong relative strength and promising technical setups. July 15, 2024 09:05Stock market live updates: SEBI recognises BSE Ltd as Research Analyst Administration and Supervisory Body (RAASB) and Investment Adviser Administration and Supervisory Body (IAASB) July 15, 2024 09:03Stock market live updates: Gift Nifty indicates positive start to the week The start of the new week is likely to see a positive start for domestic markets. Thanks to positive global cues, Gift Nifty is ruling at 24,600 (730 am) against Nifty futures close of 24,521, signalling a gain of about 80 points for the Nifty. So far, the result season has began on positive start. However, analysts said that the focus is now on the upcoming Budget. Read more July 15, 2024 08:41Stock market live updates: Researchbytes Analyst App https://play.google.com/store/apps/details?id=com.intelegain.rb Conference call Replay available in Various speeds ! Researchbytes Events Update As of 07:47 AM Monday 15 July 2024 Can set alert for them at www.researchbytes.com 4:00 PM Bank of Mah Dial: 022 6280 1102 Weblink: https://tinyurl.com/4ndjk4rm 5:00 PM HDFC AMC Dial: +91226280 1551 Weblink: https://tinyurl.com/yc3eecbw 6:00 PM HDFC life Insur Dial: +91 22 6280 1406 Weblink: https://tinyurl.com/58rxpy8r 7:00 PM Jio Financial Weblink: https://tinyurl.com/42spymbw HCL Tech : (replay) https://www.researchbytes.com/webcast.aspx?WID=305070 GTPL Hathway : (replay) https://www.researchbytes.com/webcast.aspx?WID=305066 Star Housing Fin : (replay) https://www.researchbytes.com/webcast.aspx?WID=305068 Anand Rathi Wealth : (replay) https://www.researchbytes.com/webcast.aspx?WID=305045 TCS : (replay) https://www.researchbytes.com/webcast.aspx?WID=305017 JTL Infra : (replay) https://www.researchbytes.com/webcast.aspx?WID=304997 Tata Elxsi : (replay) https://www.researchbytes.com/webcast.aspx?WID=304988 Shalby : (replay) https://www.researchbytes.com/webcast.aspx?WID=304899 Shilpa Antibiotics . : (replay) https://www.researchbytes.com/webcast.aspx?WID=304797 eMudhra : (replay) https://www.researchbytes.com/webcast.aspx?WID=304630 Results today ... https://www.researchbytes.com/Default.aspx?cc=result Recent interviews ... https://www.researchbytes.com/Default.aspx?cc=interview Replays available at www.researchbytes.com July 15, 2024 08:40Stock market live updates: SBI raises MCLR lending rates by 5-10 bps for most tenors: Agencies July 15, 2024 08:40Stock market live updates: CEINSYS TECH unit, Technology Associates Inc, executes ₹2 million asset purchase agreement with Virtual Tours LLC July 15, 2024 08:36Stock market live updates: Stocks that will see action today: July 15 Fitch Ratings has revised the outlook on India-based Tata Steel Ltd's (TSL) Issuer Default Rating (IDR) to Negative, from Stable, and affirmed the IDR at 'BBB-'. We have also affirmed the rating on the $ billion notes due July 2024 issued by TSL's subsidiary ABJA Investment Co. Pte. Ltd. and guaranteed by TSL, at 'BBB-'. Read more July 15, 2024 08:24Stock market live updates: Zen Tech launches AI-powered robots, unveils four products for the global defence market July 15, 2024 08:22Stock market live updates today: Fund house recommendations MS on Ambuja: Upgrade to Overweight on Company, raise target price at Rs 775/Sh from Rs 665/Sh (Positive) MS on Ultratech: Maintain Overweight on Company, raise target price at Rs 13620/Sh (Positive) MS on ACC: Maintain Equal weight on Company, raise target price at Rs 2930/Sh (Positive) MS on Grasim: Maintain Equal weight on Company, raise target price at Rs 2990/Sh (Positive) JP Morgan on DMart: Maintain Overweight on Company, target price at Rs 5400/Sh (Positive) CLSA on DMart: Maintain Outperform on Company, target price at Rs 5535/Sh (Positive) BofA on DMart: Maintain Buy on Company, target price at Rs 5465/Sh (Positive) Nomura on HCL Tech: Maintain Buy on Company, raise target price at Rs 1720/Sh (Positive) Kotak on HCL Tech: Maintain Add on Company, raise target price at Rs 1650/Sh (Positive) Jefferies on HCL Tech: Maintain Hold on Company, raise target price at Rs 1630/Sh (Positive) Investec on VIP Ind: Initiate Buy on Company, target price at Rs 560/Sh (Positive) Investec on Safari Ind: Initiate Buy on Company, target price at Rs 2800/Sh (Positive) Nuvama on Maruti: Maintain Buy on Company, raise target price at Rs 16000/Sh (Positive) Nomura on Fortis: Maintain Buy on Company, raise target price at Rs 547/Sh (Positive) CLSA on Titan: Maintain Outperform on Company, target price at Rs 3948/Sh (Positive) Nuvama on DMart: Maintain Hold on Company, target price at Rs 5091/Sh (Neutral) Investec on HCL Tech: Maintain Sell on Company, raise target price at Rs 1312/Sh (Neutral) Citi on HCL Tech: Maintain Neutral on Company, raise target price at Rs 1545/Sh (Neutral) JP Morgan on HCL Tech: Maintain Neutral on Company, target price at Rs 1510/Sh (Neutral) CLSA on HCL Tech: Downgrade to Hold on Company, raise target price at Rs 1556/Sh (Neutral) Citi on Coal India: Maintain Neutral on Company, target price at Rs 460/Sh (Neutral) MS on Dalmia Bharat: Downgrade to Underweight on Company, cut target price to Rs 1990/Sh (Negative) MS on Shree Cement: Downgrade to Underweight on Company, cut target price to Rs 27000/Sh (Negative) July 15, 2024 07:49Stock market live updates: A meeting of the Aurobindo Pharma board will be held on Thursday to consider, inter alia, proposal for buyback of fully paid-up equity shares of the company July 15, 2024 07:18Stock market live updates: Today's Stock Recommendation: July 15, 2024 July 15, 2024 07:17Stock market live updates: Nifty and Bank Nifty Prediction for the week 15 Jul'24 to 19 Jul'24 July 15, 2024 07:16Stock market live updates: EX-DIVIDEND SECURITIES: ALEMBIC PHARMA - Rs 11 KPR MILL - Rs 2.50 RANE BRAKE LINING - Rs 30 SIYARAM SILK MILLS - Rs 4 ALEMBIC PHARMA - Rs 11 KPR MILL - Rs 2.50 RANE BRAKE LINING - Rs 30 SIYARAM SILK MILLS - Rs 4 July 15, 2024 07:15Stock market live updates: Major U.S. listed stocks result calendar 15.07.2024 Goldman Sachs Group, Inc.(Pre Market) (Sector - Finance) Black Rock, Inc.(Pre Market) (Sector - Finance) July 15, 2024 07:15Stock market live updates: Securities in F&O Ban For Trade Date 15-July-2024 * ABFRL * BALRAMCHIN * BANDHANBANK * CHAMBAL * GMRINFRA * GNFC * IEX * INDIACEM * INDUSTOWER * PEL * RBLBANK July 15, 2024 07:06Stock market live updates: India's Direct Tax Collection (As of July 11) FY24 - ₹4.80 lakh crore FY25 - ₹5.74 lakh crore Good increase in tax collection July 15, 2024 07:05Stock market live updates: 5Paisa Capital Ltd. | CMP Rs. 499 | M Cap Rs. 1557 Cr | 52 W H/L 759/385 (Nirmal Bang Retail Research) Result has improved owing to decline in opex Revenue from Operations came at Rs. 102.2 Cr (-9.4% QoQ, 20.9% YoY) vs QoQ Rs. 112.9 Cr, YoY Rs. 84.5 Cr EBIDTA came at Rs. 37.3 Cr (81.3% QoQ, 45.8% YoY) vs QoQ Rs. 20.6 Cr, YoY Rs. 25.6 Cr EBITDA Margin came at 36.5% vs QoQ 18.2%, YoY 30.3% Adj. PAT came at Rs. 20.1 Cr vs QoQ Rs. 5.8 Cr, YoY Rs. 14.5 Cr Quarter EPS is Rs. 6.4 Stock is trading at P/E of 19.4x Q1 annualised EPS July 15, 2024 07:04Stock market live updates: Researchbytes Analyst App https://play.google.com/store/apps/details?id=com.intelegain.rb Recent Interview... As of 18:13 PM Friday 12 July 2024 Anand Rathi Wealth: Feroze Azeez, CEO Larger Wallet Share Is One Of The Reasons For Strong Growth: Anand Rathi Wealth https://www.youtube.com/watch?v=hFWNGW87UzY Poly Medicure: Himanshu Baid, MD PLI Scheme Needs To Be Expanded & Should Focus On Downstream Opportunities: Poly Medicure https://www.youtube.com/watch?v=N3ciqtavVco Protean eGov Te: Suresh Sethi, MD & CEO New-Age DPIs & Cloud Infra Services Are New Growth Opportunities: Protean eGov Technologies https://www.youtube.com/watch?v=_wJqs_ulLIs Senco Gold Limited: Suvankar Sen, CEO Senco Gold: Strong Q1 Recorded By Company, What's The Expansion Plan For Future? | ET Now https://www.youtube.com/watch?v=8bMWAPCMIrw TCS: K Krithivasan, CEO & MD TCS Q1 Result: Manufacturing Led Co's Growth, What Factors Lead To Strong Numbers In This Qtr? https://www.youtube.com/watch?v=kmb_1hlXQ3U Bikaji Foods: Manoj Verma, COO We Aim To Double Our Exports Business In The Next 3-4 Years: Bikaji Foods https://www.youtube.com/watch?v=KxaikWhjoa4 GE Shipping: G Shivakumar, ED & CFO GE Shipping: Development Fund To Power Up Shipping Inds, Elevated Delivery Rates To Sustain? https://www.youtube.com/watch?v=1J05sLtGTJk Gulf Oil Lubric: Ravi Chawla, MD The Volume For Data Center Market Is Really Small At Around 14 M Litres: Gulf Oil Lubricants https://www.youtube.com/watch?v=mXCwjVW1Drg IRB Infra: Anil Yadav, CFO IRB Infra: Toll Collections Serving Fundraise Plans, What's The Monetisation Plan Of Co For FY25? https://www.youtube.com/watch?v=GtEt11vkDZI Kesoram: P Radhakrishanan, Whole time Director Deal With UltraTech Is On Track To Be Completed Before December 2024: Kesoram Industries https://www.youtube.com/watch?v=tMaDdVgQIDE Events today... https://www.researchbytes.com/Default.aspx?cc=event Results today... https://www.researchbytes.com/Default.aspx?cc=result Replays available at www.researchbytes.com July 15, 2024 07:03Stock market live updates: Fund Flow Activity: 12 July 2024 (Rs. In Crs.) Turnover: (NSE + BSE) Cash Volume: 155554.74 + 11956.72 Total: 167511.46 F&O Volume: 616386.28 + 38977843.75 Total: 39594230.0 Provisional Cash FII/FPI: NET BUY: +4021.6 (19113.62 - 15092.02) DII: NET SELL: -1651.45 (14490.17 - 16141.62) July 15, 2024 07:02Stock market live updates: Market close last week Closing Bell: * Sensex: 80519.34(+622.00) * Nifty 50: 24502.15 (+186.20) * Nifty bank: 52278.90 (+8.25) Nifty top 5 Gainers: * TCS: 4,183.95 (+260.25) * Wipro : 560.15 (+26.05) * Infosys: 1,711.75 (+59.05) * HCL Tech:1,560.20 (+48.30) *LTIMindtree : 5,572.65 (+165.05) Nifty top 5 losers: * Maruti: 12,562.50 (-152.70) * Divis Labs: 4,539.30 (-43.20 ) * Coal India: 496.20 (-3.85) * Asian Paints: 2,999.15 (-22.90 ) * BPCL:304.55 (-2.05) July 15, 2024 06:52Stock market live updates: Cipla navigates change, building on its 'crusader-in-crisis' legacy On a typical rainy day in monsoony Mumbai, the fifth floor in Cipla's office reflects a quiet calm -- unlike the buzz elsewhere in the city, preparing to welcome a World Cup winning cricket team later in the day. The stillness is soon dispelled as Umang Vohra, Cipla's Managing Director and Global Chief Executive Officer walks into the room for an exhaustive interaction on the drugmaker's journey, especially in the eight-odd years he's been at the helm. Read more July 15, 2024 06:51Stock market live updates: ITC Mangaldeep's fragrant new forays bl-premium-article-image For years, agarbathis (incense sticks) have been obscure, lying in a corner of one's pooja room, looking the same across brands. They have also long been a staple purchase, which the consumer picked off the shelves hardly giving a second thought about the brand. So then, what can an FMCG giant like ITC do to make it a product of discerning taste? Read more July 15, 2024 06:47Stock market live updates: With pharma stocks going strong, valuations don't leave room for error The pharma sector has been on a roll, with peak revenues in FY24. The Nifty Pharma breached 20,000 levels for the first time in July 2024, gaining 20 per cent YTD compared to Nifty-50's 12 per cent gain. Read more July 15, 2024 06:46Stock market live updates: Index Outlook: Sensex, Nifty 50: Near-term outlook is positive Sensex and Nifty 50 sustained higher and were range-bound for most part of the week. On Friday, they broke the range on the upside and rose to close higher. The short-term outlook remains positive for both the Sensex and Nifty. We can expect the index to go up further in the coming days. Read more July 15, 2024 06:44Stock market live updates: Concentration of MF assets eases as smaller fund houses see good flows The concentration of mutual fund assets with the top 15 fund houses has fallen with recent entrants catching up fast, riding on the recent market rally and record collections through new fund offers. Read more July 15, 2024 06:41Stock market live updates: India-dedicated funds see record inflows in July second week India dedicated funds are seeing humongous amounts of money pouring in and last week saw record high flows of $1.25 billion, with the most flows coming into exchange traded funds at $848 million, data from EPFR and Elara Securities showed. Read more July 15, 2024 06:39Stock market live updates: Mcap of 7 of top-10 most valued firms jump ₹1.72 lakh crore; TCS steals show The combined market valuation of seven of the top-10 most valued firms jumped Rs ₹1,72,225.62 crore last week, with IT bellwether Tata Consultancy Services (TCS) stealing the show, amid a rally in equities. Read more July 15, 2024 06:35Stock market live updates: Stock to buy today: Wipro (₹560.05): BUY The upmove in Wipro has gained momentum. The stock surged 4.8 per cent on Friday and has closed on a strong note. This rise has ended the two-week long sideways consolidation. It also indicates that the broader uptrend has resumed. Read more July 15, 2024 06:32Stock market live updates: Equity dominates FPI investments in July, exceeding debt by 3.6x Foreign portfolio investors (FPIs) stayed net buyers in July, with flows in equities exceeding that in debt for the second time this year. Read more SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on July 15, 2024

HCL Technologies Share Price Updates 15 July 2024: HCL Technologies stock surges over 3% after Q1 results

HCL Technologies/ HCLTech Stock/ Share Price Updates: HCL Technologies stock opened among top gainers in Nifty 50 pack on Monday. The company reported a consolidated net profit of ₹4,257 crore for Q1 ended June, up 20.4% year-on-year, (YoY) as compared with ₹3,534 crore in the corresponding period last year. The stock closed positive on Monday. ALL UPDATESJuly 15, 2024 15:40HCL Technologies share price in focus Shares of HCL Technologies closed at ₹1,568 on the NSE and BSE, inched up by 0.50% and 0.49%, respectively. July 15, 2024 15:05HCL Technologies stock traded at ₹1,570 on the NSE, up 0.63% as at 3.03 pm. July 15, 2024 14:10Religare Broking on HCL Tech HCL Tech reported mixed numbers for Q1FY25 with YoY revenue as well as PAT growth while EBIT margin seen a 21 bps jumps YoY. Going ahead, management has retained its guidance for FY25. Management commentary suggests discretionary spending pressure and delayed decision making remains but they also expects growth to resume in 2Q across all verticals and markets except BFSI. Further, HCL has developed Gen AI platforms such as AI Force and GenAI Enterprise Foundry to capitalize GenAI led demand and growth. On the financial front, we estimate its revenue/EBIT to grow by CAGR of 6.7%/9.4% over FY24-26E and we have revised our rating to Accumulate with the target price of Rs 1,759. July 15, 2024 13:15HCL Technologies stock trades at ₹1,579.90 on the NSE, up 1.26% as at 1.13 pm. July 15, 2024 12:47HCL Tech share price in focus Shares of HCL Tech traded at ₹1,579.50 on the NSE, up by 1.24% as at 12.45 pm. July 15, 2024 11:24ICICI Securites on HCL Tech - Maintains status quo, FY25 guidance HCL Technologies (HCLT) has reported in-line growth and margin for Q1FY25. IT and business services declined 1.8% QoQ USD, ER&D services declined 3.7% QoQ and products and platforms fell 0.9% QoQ. It maintains FY25 guidance of 3-5% revenue growth and 18-19% EBIT margin, which is already built in the price and we see limited positive triggers for HCLT in FY25. With Q1 print, HCLT needs 0.8-2.2% CQGR for the remaining three quarters. HCLT faces several headwinds in FY25 including: 1) ASAP acquisition integration, 2) State Street divestment- 80-90bps impact on revenue growth to fall in Q2 and 3) slow growth in ER&D segment. Factoring this in, we revise FY26/27E EPS by <1%. We value HCLT on SoTP basis - services (IT and ER&D) at 22x and products at 18x on FY26E EPS and maintain our TP at ₹1,455. Retain REDUCE on soft H1FY25. July 15, 2024 11:21HCL Technologies stock rose 1.91% on the NSE, trading at ₹1,590 as at 11.20 am. July 15, 2024 10:41HCL Technologies stock traded at ₹1,589.70 on the NSE, up by 1.89% as at 10.39 am. July 15, 2024 10:29Nomura Securities has retained 'Buy' recommendation on HCL Technologies with the software company on track to achieve its FY25 revenue growth guidance In 1Q FY25, slight beat to estimates. HCLT's 1QFY25 revenue of $3,364mn (-1.6% q-q, +5.6% y-y) in constant currency was slightly ahead of the consensus estimate of a 1.9% qoq decline. IT Services and Engineering & R&D Services declined 1.5% and 3.5% qoq, respectively, while Products and Platforms was up 0.4% qoq, in cc terms. Net new deal wins at $1.96bn were up 22.5% yoy. EBIT margin of 17.1% (-50bp q-q, +10bp y-y) was broadly in line with the consensus estimate of 17%. Other income included a $70mn one-time income from State Street JV divestment. EPS at Rs 15.7 was up 20% yoy. Retains FY25E revenue growth guidance of 3-5% in cc. HCLT has retained its 3-5% y-y revenue growth guidance for FY25E in cc terms, which does not factor in an improvement in discretionary demand vs FY24. HCLT notes that it is seeing certain signs that discretionary demand may have bottomed out, but it is too early to call with certainty. In our recent India IT Services Sector report, we highlight that discretionary demand is unlikely to worsen further based on our proprietary G2000 database.. July 15, 2024 10:28Vikas Jain, Senior Research Analyst at Reliance Securities. Focus Today (Trend Positive - Gift Nifty is up 80 points 0.4% - focus on IT stocks - FIIs over Rs4000cr net buyers and Net direct tax collection grow 24%. HDFC Life an HDFC AMC results. ) - US market closed record high and Dow closed above 40000 mark on rate cut expectation by the US Fed. Direct Expect rally on IT stocks to continue after Nifty IT majors TCS and HCL Tech announced better than expected Q1 results. Net direct tax collections grew over 24% touching Rs 5.74 lakh crore till July 11. ADR/GDR - Wipro up 3%. Infosys up 2.5%. Both L&T and Axis Bank rose 1% each. Both Goldman Sachs and Morgan Stanley results this week. ECB meeting, Fed chairman speech, US retail sales and political trend in US following attack on Trump. Today's Market Outlook - Better than expected both HCL Tech and TCS results, solid net direct collection, rate cut hope lifted US market to record high and consistent FIIs buying interest in the domestic market, may open equity market on a strong note. Gift Nifty is up 102 points or 0.4%. Previous day, solid buying interest in IT stocks lifted the Nifty nearly 1% to close at a record high. FIIs were net buyers over Rs4000cr on Friday. July 15, 2024 10:27Brokerages on HCL Tech Investec on HCL Tech: Maintain Sell on Company, raise target price at Rs 1312/Sh (Neutral) Citi on HCL Tech: Maintain Neutral on Company, raise target price at Rs 1545/Sh (Neutral) JP Morgan on HCL Tech: Maintain Neutral on Company, target price at Rs 1510/Sh (Neutral) CLSA on HCL Tech: Downgrade to Hold on Company, raise target price at Rs 1556/Sh (Neutral) July 15, 2024 10:23Better than expectations; retains guidance: Nuvama HCL Tech (HCLT) reported soft Q1FY25 results, but better than estimates. Revenue at USD3,364mn (-1.6% CC QoQ)-IT services fall of -1.5% CC QoQ is better than our/Street's estimate of -2.1%/-1.9% QoQ. Consolidated EBIT margin of 17.1% beat our/Street's estimate of 16.8%/17.1%. TCV at USD1.96bn (-14% QoQ/ +25% YoY) is decent. Management expects growth to revert in Q2 and maintained its FY25 revenue guidance of 3-5% YoY CC and margin guidance of 18-19%. We are tweaking FY26E EPS by -3.6% on slightly lower margin assumption. We are introducing FY27 estimates and rolling forward our valuation to 24x Sep-26 PE (earlier 23x) on better growth visibility. Maintain 'BUY' with a TP of INR1800 (INR1700 earlier). July 15, 2024 10:21Analyst of Prabhudas Lilladher on HCL Technologies HCL Technologies (HCLT IN) - Pritesh Thakkar, Research Analyst, Prabhudas Lilladher Pvt. Ltd. Rating: BUY | CMP: ₹1,560 | TP:₹1,790 Q1FY25 Result Update - Gearing up for growth from Q1 trough Quick Pointers: § Better-than-expected Q1 performance de-risking the path to achieve the guidance band § Margins to be under pressure, likely to be in the lower band HCLT reported Q1FY25 revenue of US$ 3.36bn, down 1.6% QoQ CC above our and consensus est. of 1.9% QoQ CC, while dollar terms revenue declined by 1.9% QoQ. IT & Business Services and ER&D declined by 1.5% and 3.5% QoQ CC, while P&P was flat QoQ CC. EBIT margin declined by 50bps QoQ to 17.1%, in line with consensus. Surprisingly, IT Services margin was flat QoQ. The company's deal win in the quarter was normalized to US$ 1.96bn vs last quarter, down 14.4% QoQ. Despite the revenue decline, the company's performance exceeded Q1 expectations. We believe this could support the company achieve FY25 rev. guidance band of 3-5% YoY CC. The anticipated Q1 performance impact was largely attributed to the project transitioning (BFSI) from onsite to offshore coupled with passing seasonal productivity commitment (concentrated on Mfg). Q2 would again have an adverse topline impact of 80bps (consolidated level) due to the JV divestment. Despite the fact, the management is confident of revenue growth both at consolidated level and in the Services segment in Q2. The management's confidence is underpinned by earlier deal wins that have gone for executions, instead of building any optimism or constructive recovery on the discretionary spends. Additionally, the management anticipates sharp recovery within the ER&D space partly led by Q1 seasonal impact within Mfg and partly by anticipated growth recovery within ASAP after the Q1 trough. With underlying demand environment and clients' sentiment towards discretionary spends continue to be at earlier pace, we are broadly keeping our revenue estimates unchanged. The Q1 margin weakness is likely to be compensated by an uptick in high-margin businesses (ER&D and P&P) in 2Q/3Q. We expect the company to report margins in the lower range of the guidance band (18-19%), as the anticipated fresher hiring (10k in FY25) would keep a tight band for utilization and productivity improvement. Valuations and outlook: Given its defensive business mix and resilient vertical portfolio, HCLT is well positioned to capture the boarder market theme and participate in the critical aspects of enterprise operations. Even if it delivers in the mid-range of the revenue guidance, it would end up achieving growth above the peer average. We are baking in USD revenue growth of 4.7% and 10% YoY with margin improvement of -20bps and 90bps for FY25E and FY26E, respectively. The stock is currently trading at 22.2x FY26E. We maintain "BUY" on HCL Tech assigning PE of 25x to FY26E with a target price of ₹1,800. July 15, 2024 10:14bl's Stock Market Live Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for July 15, 2024 July 15, 2024 10:09HCLTech share price in focus The stock hit a 52-week high on the NSE on February 23, 2024, at ₹1,697.35. July 15, 2024 10:05HCL Technologies share price in focus HCL Technologies stock rose 3.17% on the NSE, trading at ₹1,609.70 as at 9.31 am. July 15, 2024 10:04HCLTech Q1 net profit up 20% y-o-y at ₹4,257 crore Noida-based information technology giant, HCL Technologies (HCLTech), on Friday reported a consolidated net profit of ₹4,257 crore for the first quarter (Q1) ended June, up 20.4 per cent year-on-year, compared with ₹3,534 crore in the corresponding period last year. Consolidated revenue for the quarter in review rose 6.6 per cent y-o-y to ₹28,057 crore. The Board of Directors declared an interim dividend of ₹12 per equity share of ₹2 each for the financial year 2024-25. The company has a fixed record date of July 23 for the payment of the interim dividend, the company said, adding that the payment date of the said interim dividend will be August 1. Read more SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on July 15, 2024