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Closing Bell: Nifty below 24,350, Sensex down 427 pts; auto, bank, metals top drag

July 10, 2024· 16:11 IST

July 10, 2024· 16:11 IST

Indian benchmark indices erased previous session gains and ended lower on July 10 with Nifty below 24,350. At close, the Sensex was down 426.87 points or 0.53 percent at 79,924.77, and the Nifty was down 108.70 points or 0.44 percent at 24,324.50.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

July 10, 2024· 16:08 IST

Shrikant Chouhan, Head Equity Research, Kotak Securities:

Today, the benchmark indices witnessed profit booking at higher levels, the Nifty ends 108 points lower while the Sensex was down by 422 points. Among Sectors, Auto index lost the most shed over 2 percent whereas despite weak market sentiment buying interest were seen in selective FMCG and Pharma stocks. Technically, after early morning sharp selloff eventually it took the support near 24150/79400 and witnessed some recovery. On daily charts, the index has formed a bearish candle, which indicates weak sentiment is likely to continue in the near future.

We are of the view that, today’s day low or 24150/79400 would act as a key support zone for the day traders. If the index succeeds to trade above the same, then it could retest the level of 24450/80500. Further upside may also continue which could lift the index till 24500-24550/80700-80900. On the flip side, below 24150/79400 selling pressure is likely to accelerate. Below which the market could slip till 24050-24000/79100-78800.

July 10, 2024· 15:55 IST

Rupak De, Senior Technical Analyst, LKP Securities

The bears remained at the helm as the index slipped by more than 100 points for the first time in many days. On the lower end, it found support just above the upper band of the rising channel. A bearish engulfing pattern has formed on the daily chart. Additionally, heavy call writing coupled with decent put unwinding ahead of the weekly expiry suggests the possibility of a correction.

Immediate support is placed at 24,270. Below 24,270, the Nifty might fall towards 24,100-24,000. On the higher end, resistance is placed at 24,350-24,400. Expect another round of short covering above 24,400.

July 10, 2024· 15:53 IST

Stock Market LIVE Updates | Glenmark Pharma to sell 7.84% stake in Glenmark Life via OFS

July 10, 2024· 15:52 IST

Aditya Gaggar Director of Progressive Shares

In the opening trade, a steep fall was observed in the Mid and Smallcap segments putting pressure on the Index to trade lower with a loss of over 200 points. As the day progressed, the markets gradually started to recuperate their losses and finally settled the trade at 24,324.45 with a loss of 108.75 points.

On a sectoral front, Pharma was the top gainer followed by FMCG; and on the flip side, Auto was the major laggard by ending the day with a loss of 2.02%. The Media and Metal sectors underperformed as well. Broader markets also recovered from the lower levels where Midcap more or less moved in tandem with the Frontline Index while Smallcaps underperformed.

On the daily chart, the Index has made a Bearish Engulfing candlestick pattern at the record levels which indicates a potential reversal of the trend. A convincing move below 24,200 will confirm a short-term trend reversal till then uptrend will remain intact. On the other hand, a level of 24,460 will be considered an immediate hurdle.

July 10, 2024· 15:42 IST

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

The Bank Nifty index continued to witness selling pressure from higher levels and was unable to surpass the 52500 mark, where call writers are active. The index is trading near a crucial support zone of 52000-51800. If it manages to hold this level, it can witness a pullback rally towards 52500. A sustained move above 52500 will open up gates for 53000, but if it fails to hold the support of 51800, it can decline further towards the 51300-51000 zone.

July 10, 2024· 15:32 IST

Currency Check | Rupee closes marginally lower

Indian rupee ended marginally lower at 83.53 per dollar on Wednesday versus Tuesday's close of 83.49.

July 10, 2024· 15:30 IST

Market Close | Nifty below 24,350, Sensex down 440 pts; auto, bank, metals top drag

Indian benchmark indices erased previous session gains and ended lower on July 10 with Nifty below 24,350.

At close, the Sensex was down 426.87 points or 0.53 percent at 79,924.77, and the Nifty was down 108.70 points or 0.44 percent at 24,324.50. About 1116 shares advanced, 2311 shares declined, and 59 shares unchanged.

Biggest losers on the Nifty were M&M, Tata Steel, TCS, Hindalco Industries and Hero MotoCorp, while gainers included Asian Paints, SBI Life Insurance, Divis Labs, HDFC Life and Britannia Industries.

Among sectors, auto, bank, capital goods, IT, telecom, media and metal down 0.4-2 percent, while FMCG, healthcare, power and oil & gas ended in the green.

The BSE midcap index was down 0.2 percent while smallcap index shed 0.7 percent.

July 10, 2024· 15:25 IST

Stock Market LIVE Updates | Zydus Lifesciences gets final approval from USFDA for Sacubitril & Valsartan Tablet

July 10, 2024· 15:21 IST

Sensex Today | BSE Power index up 0.5%; NHPC, Power Grid Corp, Siemens among major gainers

BSE POWER Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
NHPC107.551.419.53m
Power Grid Corp345.251.28277.20k
Siemens7,817.650.7713.60k
NTPC379.500.66420.13k
Adani Power727.850.34840.80k

July 10, 2024· 15:17 IST

Stock Market LIVE Updates | Defence space in focus; BEL zooms 80% YTD

Defence space has been in the limelight over the last few weeks and continues to remain in a structural uptrend. Within this space, analysts remain positive on Bharat Electronics.

The stock has surged 80 percent so far this year, and recently witnessed breakout from a five-week consolidation range suggesting a resumption of up move and fresh entry opportunity, according to ICICI Securities.

According to ICICI Securities, BEL is favourably positioned to capture the larger pie of huge opportunity in the Indian defence & space electronics systems/sub-systems or components industry which is expected to clock 13-14 percent CAGR over FY22-27 with the share of defence electronics (in total defence production) increasing to 30-35 percent in the coming years. Read More

July 10, 2024· 15:14 IST

Sensex Today | Nifty Pharma index gains 0.4%; Divis Lab, Lupin, Sun Pharma among major gainers

NIFTY PHARMA Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Divis Labs4,647.002.09475.94k
Lupin1,831.650.931.33m
Sun Pharma1,600.050.921.44m
Torrent Pharma2,954.500.63205.78k
Aurobindo Pharm1,339.850.561.18m
Zydus Life1,169.050.311.32m
Dr Reddys Labs6,596.100.2209.30k
Cipla1,514.000.13546.79k

July 10, 2024· 15:11 IST

Brokerage Call | Jefferies maintains 'buy' rating on Supreme Industries; target raises to Rs 6,700 from Rs 5,390

#1 In Apr-May, volumes grew by 22 percent YoY despite a high base
#2 Sales grew by 12 percent YoY impacted by PVC volatility
#3 Focus on value-added sales (up 20 percent YoY in Apr-May) can aid margin
#4 SKU breadth and distribution depth act as key moats for share gains
#5 Company will be a good play on housing, capex, agri
#6 Estimate 25 percent+ EPS CAGR over FY24-27

July 10, 2024· 15:07 IST

Sensex Today | 1.58 million shares of Suzlon Energy traded in a block: Bloomberg

July 10, 2024· 15:06 IST

Expect Rupee to trade with a slight negative bias: Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas

Indian Rupee gained by 0.01% today on weak crude oil prices. However, weak domestic markets capped sharp upside. US Dollar gained as Fed Chair Jerome Powell offered no fresh cues on timing of rate cut. He said that the inflation trend is encouraging; however, the Fed will need more data to gain confidence in cutting rates. He cautioned that lowering interest rates too little or too late could put the economy and the labor market at risk as inflation is not the only risk the US economy faces now.

We expect Rupee to trade with a slight negative bias on weakness in domestic market and positive tone in the Dollar. Investors may remain cautious ahead of Fed Chair, Jerome Powell’s testimony to the US Congress and inflation data tomorrow. USDINR spot price is expected to trade in a range of Rs 83.20 to Rs 83.80.

July 10, 2024· 14:54 IST

Sensex Today | JSW Steel Q1 consolidated crude steel production down 1% YoY & 6% QoQ at 6.35 million tonnes

July 10, 2024· 14:50 IST

Sensex Today | Nifty Midcap 100 index recovers 1,100 points from day's low

NIFTY Midcap 100 Recovery from Day's Low
CompanyCMPHigh LowGain from Day's Low
Rail Vikas608.55 612.45
557.75
9.11%
NHPC107.30 108.40
102.065.13%
Max Financial1,033.55 1,044.00
989.004.5%
SJVN141.82 146.88
136.014.27%
BHEL327.15 331.20
314.603.99%Syngene Intl740.00 741.65
713.053.78%Sona BLW687.40 692.00
662.653.74%PB Fintech1,412.80 1,438.80
1,362.553.69%Deepak Nitrite2,727.10 2,738.00
2,631.103.65%Bharat Dynamics1,628.00 1,688.50
1,571.303.61%

July 10, 2024· 14:48 IST

Stock Market LIVE Updates | Adani Ports receives LoI for maintenance of Berth number 13 at Deendayal Port

The company was awarded a letter of intent for a 30-year concession period for the development, operation, and maintenance of Berth number 13 at Deendayal Port.

July 10, 2024· 14:45 IST

Stock Market LIVE Updates | Kansai Nerolac Paints share price jumps most in 23 months

July 10, 2024· 14:43 IST

Sensex Today | Juniper Green inks pacts to supply 480 MW from solar-wind hybrid projects

Juniper Green Energy on Wednesday said it has inked two pacts for supply of 480 MW electricity from its solar-wind hybrid capacity to Gujarat Urja Vikas Nigam (GUVNL) and NTPC.

According to a company statement, GUVNL Hybrid Phase 1 project has 190 MW of hybrid capacity (140 MW solar and 50 MW wind). It is set to generate 412 million units of electricity annually, offsetting 3,84,067 tonne of CO2 and supplying clean energy to 82,016 households.

NTPC Hybrid Tranche -1 comprises 290 MW of hybrid capacity (210 MW solar and 80 MW wind) across Gujarat and Rajasthan. This project will produce 633 MU of electricity per year, reducing carbon emissions by 5,90,810 tonne and powering 1,26,165 households.

"These strategic partnerships with GUVNL and NTPC signify more than just contracts; they represent our collaborative efforts towards pioneering hybrid energy solutions," said Naresh Mansukhani, CEO of Juniper Green Energy.

July 10, 2024· 14:30 IST

Nifty Index Contributors
CompanyCMP Chg(%)F.F Market
Cap (Rs cr)
Contribution
Asian Paints3,005.45
3.46%
144,141814.38
SBI Life Insura1,557.55
2.15%
156,000555.34
Britannia5,779.75
1.96%
139,215451.55
HDFC Life634.45
1.73%
136,468392.7
HUL2,617.3
1.05%
215,235377.42
Divis Labs4,619.15
1.48%
122,623301.56
Grasim2,787.9
0.95%
185,115292.96
Power Grid Corp345.25
1.2%
144,496290.07
Titan Company3,228.5
0.42%
286,621200.35
TATA Cons. Prod1,150.8
0.75%
109,652138.52

July 10, 2024· 14:24 IST

Stock Market LIVE Updates | Asian Paints reportedly hikes prices across portfolio, stock upbeat

Asian Paints - India’s largest paint manufacturer - has reportedly hiked prices by up to a percent across the portfolio, sending the share price sharply higher in a weak market. Citing sources, CNBC-TV18 reported that the paint company has hiked prices by 0.7-1% across portfolio.

Market watchers may closely track if other companies such as Berger Paints, Kansai Nerolac, Akzo Nobel too will follow suit and increase prices.

Asian Paints had reported consumption demand moderating in FY24 on the back of retail inflation, particularly in the rural markets. The company expects Q1FY25 demand to be supported by a favourable monsoon and higher rural wages, which may lead to greater discretionary spending.

July 10, 2024· 14:21 IST

Stock Market LIVE Updates | M&M says no linkage between price cut on XUV700 variants and UP EV/Hybrid policy

M&M said

- No linkage between price cut on certain XUV700 variants & UP EV/Hybrid policy
- Announced price cut continuation of our business strategy articulated on eb 14
- We have to bring the average price point down to drive growth
- Well deliberated actions were incorporated into our annual business plan
- We do not expect any material impact on our financials
- Demand for XUV700 continues to be robust
- Have increased our mfg capacity in-line with demand

July 10, 2024· 14:11 IST

Stock Market LIVE Updates | Life Insurers increase term insurance premiums, CNBC-TV18 reports

HDFC LIFE INSURANCE:
-Hikes Term Insurance Premium By ~ 10% For Age Over 60 Years 
-Term Insurance Forms 5% Of HDFC Life’s Individual APE 

MAX LIFE INSURANCE:
-Hikes Term Insurance Premium Between 1-6%
-Term Insurance Forms 8% Of Max Life’s Individual APE

BAJAJ ALLIANZ LIFE INSURANCE: 
-Hikes Term Insurance Premium Between 1-6%
-Term Insurance Forms 6% Of Bajaj Allianz’s Individual APE 

TATA AIA LIFE INSURANCE:
-Hikes Term Insurance Premium Between 3-10%

ICICI PRUDENTIAL LIFE 

-To Soon Hike Prices In Its Term Insurance Portfolio Between 3-5% 

Key Reasons For Term Premium Hike:
-Inflation Adjustment 
-Increase In Tier II & III Term Coverage 
-Underlying Cohort Changes 
-Reinsurance Premium Pricing 

NSE Top Sectoral Gainers (Intra-day)
CompanyCMPChg(%)Volume
LIC India1052.551.965608353
SBI Life Insura15521.791273141
ICICI Prudentia658.31.834294901
HDFC Life631.751.35051958

July 10, 2024· 14:05 IST

Stock Market LIVE Updates | New scheme likely for medical devices in the Budget, CNBC-TV18 reports

July 10, 2024· 13:54 IST

Sensex Today | BSE FMCG index up 0.3%; AVT Natural, Zydus Wellness, Godrej Consumer among major gainers

BSE FMCG Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
AVT Natural91.603.91186.86k
Zydus Wellness2,164.853.16.47k
Godrej Consumer1,451.502.8612.86k
Marico653.752.5332.94k
Heritage Foods560.752.565.76k
Britannia5,778.951.9319.17k
LT Foods279.801.8146.37k
Colgate3,044.001.745.98k
P and G16,849.951.28294
Bikaji Foods695.551.1924.92k

July 10, 2024· 13:50 IST

Sensex Today | JLR India retail sales rise 31% at 1,371 units in Q1

Jaguar Land Rover India on Wednesday said its retail sales increased 31 per cent year-on-year to 1,371 units for the first quarter ended June 30, 2024.

The automaker had retailed 1,048 units in the April-June quarter of last fiscal.

Sales of both Defender and Range Rover Evoque grew by more than 50 per cent with Defender being the highest-selling model in the portfolio, the company part of Tata Motors said in a statement.

Range Rover, Range Rover Sport and Defender account for 75 per cent of the total order book, it added.

July 10, 2024· 13:46 IST

Stock Market LIVE Updates | RK Swamy shares fall post Q1 numbers

The company's revenue from operations increased by 13.3 percent YoY to Rs 331.5 crore in Q1FY25, while PAT was up by 27.1 percent YoY to Rs 39.7 crore.

July 10, 2024· 13:43 IST

Sensex Today | Nifty PSU Bank index slips 1.4%; Punjab & Sind Bank, PNB, Bank of India among major losers

NIFTY PSU BANK Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
Punjab & Sind59.44-2.461.85m
PNB119.48-2.3830.28m
Bank of India121.06-2.18.52m
Bank of Baroda257.15-1.7410.18m
JK Bank106.89-1.733.02m
SBI848.65-1.4710.66m
Bank of Mah63.84-1.4510.37m
Union Bank138.00-1.277.86m
Central Bank63.43-1.217.70m
Canara Bank114.62-1.1917.23m

July 10, 2024· 13:39 IST

Listing Today | Bansal Wire and Emcure Pharma gain more than 30% on listing day

July 10, 2024· 13:35 IST

Stock Market LIVE Updates | Supreme Court rejects Bajaj Auto’s plea seeking lifting of cap on 3-wheelers registered in Delhi

July 10, 2024· 13:34 IST

Sensex Today | Nifty Information Technology index sheds 1%; Mphasis, Persistent Systems, TCS among major losers

NIFTY IT Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
MphasiS2,538.70-2.38710.19k
Persistent4,546.45-1.97322.47k
TCS3,911.55-1.861.23m
HCL Tech1,507.00-1.572.87m
COFORGE LTD.5,689.30-1.24159.37k
Wipro534.80-1.153.23m
L&T Technology5,023.15-0.9956.76k
Infosys1,644.80-0.757.00m
Tech Mahindra1,455.50-0.7485.71k

July 10, 2024· 13:32 IST

Sensex Today | Angel One clarifies on Data Breach

There has been no breach of any data since the incident reported to the stock exchanges on April 21, 2023. The data breach incident referred to in the captioned newspaper article, pertains to the incident of April 20, 2023.

July 10, 2024· 13:30 IST

Stock Market LIVE Updates | Asian Paints hikes prices by 0.7-1% across portfolio, Sources to CNBC-TV18

July 10, 2024· 13:29 IST

Stock Market LIVE Updates | TVS Motor Company Launches 2024 TVS Apache RTR 160 - Racing Edition

July 10, 2024· 13:28 IST

Sensex Today | 1.5 million shares of Poonawalla Fincorp change hands in bunch trade: Bloomberg

July 10, 2024· 13:26 IST

Sensex Today | 31.1 million shares of IRB Infrastructure Developers change hands in two bunches: Bloomberg

July 10, 2024· 13:24 IST

Brokerage Call | Investec maintains 'buy' rating on BSE, target at Rs 3,400

#1 Close our long fast on the stock
#2 Regulatory risks could be severe than our expectations
#3 Regulatory risks may outweigh benefits of rising volumes
#4 Regulatory changes if implemented, will impact our forward estimates
#5 Company aims to protect profitability through higher market share, lower clearing charges

July 10, 2024· 13:21 IST

Sensex Today | BSE Telecom index down 0.5%; GTL Infra, Avantel, Optiemus Infra among major losers

BSE Telecommunicatio Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
GTL Infra3.58-4.792.76m
Avantel206.90-3.483.08m
Optiemus Infra396.20-2.8788.72k
OnMobile Global69.23-2.4491.24k
INDUS TOWERS376.45-2.28626.39k
HFCL123.85-2.258.74m
MTNL41.84-1.95503.95k
Vindhya Telelin2,477.75-1.931.42k
ITI304.65-1.6654.24k
Sterlite Techno138.80-1.3582.91k

July 10, 2024· 13:18 IST

Stock Market LIVE Updates | GE Power bags Rs 7.7 crore order from Mangalore Refinery

GE Power India bagged an order worth Rs 7.67 crore from Mangalore Refinery and Petrochemicals, leading its share price to jump almost six percent in trade on July 10.

The order is for the supply of main turbines in Mangalore Refinery and Petrochemical's plants. This will be executed in 18 months.

July 10, 2024· 13:10 IST

Sensex Today | Nifty Media index shed 1.6%; Network 18, Zee Entertainment, TV18 Broadcast among major losers

NIFTY MEDIA Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
Network 1882.71-2.481.02m
Zee Entertain147.00-2.466.70m
TV18 Broadcast43.46-2.185.42m
JagranPrakashan91.45-1.83390.48k
Sun TV Network782.40-1.25359.59k
Dish TV15.24-0.919.79m
PVR INOX1,445.75-0.83234.10k
DB Corp366.50-0.76165.50k

July 10, 2024· 13:08 IST

Brokerage Call | CLSA expects ICICI Lombard to deliver 102.8% combined ratio

#1 ICICI Lombard closed Q1 with premium growth of 20 percent YoY
#2 Expect ICICI Lombard to deliver a 102.8 percent combined ratio, up 100 bps YoY
#3 Star health delivered 18 percent YoY premium growth Q1
#4 Expect growth for Star Health to pick up Q2 onwards as base softens

July 10, 2024· 13:01 IST

Markets@1 | Sensex down 540 points, Nifty below 24300

The Sensex was down 546.44 points or 0.68 percent at 79,805.20, and the Nifty was down 146.20 points or 0.60 percent at 24,287.

All the sectoral indices are trading in the red.

BSE Midcap and smallcap indices down 0.5 percent each.

Advance/Decline (Intra-day)
;24,284.1 -149.1(-0.61%)
20
30

July 10, 2024· 12:58 IST

Stock Market LIVE Updates | APTEL dismisses the appeal files by MSEDC

Appellate Tribunal for Electricity (APTEL) has dismissed the appeal filed by the Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) in the matter of normative inland transportation cost pertaining to coal supplied to Tiroda Thermal Power Plant under Inter Plant Transfer (IPT) scheme.

July 10, 2024· 12:55 IST

Sensex Today | BSE Bank index slips nearly 1%; Yes Bank, Bank of Baroda, Canara Bank among major laggards

BSE BANKEX Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
Yes Bank25.03-2.9824.82m
Bank of Baroda257.65-1.57706.78k
Canara Bank114.50-1.291.08m
SBI851.50-1.1357.57k
Kotak Mahindra1,827.95-1.0625.51k
ICICI Bank1,239.25-0.72122.26k
IndusInd Bank1,425.55-0.5918.62k
HDFC Bank1,628.00-0.52467.00k
Federal Bank187.50-0.13305.53k
Axis Bank1,288.40-0.0532.93k

July 10, 2024· 12:53 IST

BSE Large Deals
CompanyQuantityPriceValue(Cr)
Poonawalla Fin383044081.56
Bajaj Finserv470001582.457.44
HFCL707578124.68.82
Bajaj Finserv470001582.37.44
HFCL700000124.458.71
HFCL700003124.58.72
HFCL700100124.58.72
HFCL700001124.558.72
Adani Power19995732.11.46
Evexia Lifecare5000002.540.13

July 10, 2024· 12:45 IST

Stock Market LIVE Updates | RVNL signs MoU with M/s IMS Consultancy

RVNL has signed MoU with IMS Consultancy for providing technical and advisory services to RVNL for projects in the field of Railways, MRTS, Tunnels, Roads (Highways & Expressways), Bridges, Building Works, Airports, Ports, Irrigation, Power Transmission and Distribution sector, Solar sector, Wind Sector, Hydro Power Sector etc. in Nepal.

July 10, 2024· 12:44 IST

BSE Volume Shockers
CompanyCMP Chg(%)Today Vol 5D Avg VolVol Chg(%)
BNR Udyog80.10
10%
19.79k
2,287.80
765.00
ASM Tech1,396.35
5%
98.78k
13,178.00
650.00
CAMS4,145.00
3.94%
100.12k
13,636.80
634.00
Inspirisys Solu129.80
1.45%
30.18k
5,484.80
450.00
A F Ent10.81
4.95%
322.72k
65,290.00
394.00
Balaji Telefilm67.31
-5.98%
136.35k
28,363.80
381.00
AVT Natural91.45
3.74%
182.63k
47,503.40
284.00
Almondz Global144.00
4.99%
21.79k
7,126.20
206.00
Arihant Capital68.75
-4.02%
80.59k
26,332.40
206.00
Crestchem144.00
4.99%
4.68k
1,584.00
195.00

July 10, 2024· 12:42 IST

Brokerage Call | ICICI Lombard benefits from reduced competitive intensity: Jefferies

#1 For June, general insurance premium growth was slower at 7 percent, YoY
#2 Private players grew faster with a growth of 9 percent versus PSUs’ at 3 percent
#3 ICICI Lombard grew the fastest at 16 percent YoY, aided by pick-up in motor & health
#4 ICICI Lombard also benefits from reduced competitive intensity
#5 ICICI Lombard’s new product in retail health can aid growth
#6 SBI general grew at 22 percent while Bajaj General was softer at 8 percent
#7 Standalone health insurers’ growth was 22 percent with Star Health growing at 15 percent

July 10, 2024· 12:39 IST

Stock Market LIVE Updates | Marathon Nextgen Realty sheds 7% after presale value nearly halves in Q1

Marathon Nextgen Realty shares slumped as much as 7.5 percent intraday on July 10, dragged by a sharp drop in its presales value for the April-June quarter of FY25.

The realty company's presales value declined by 46 percent on year to Rs 214 crore in Q1 of FY25, down from Rs 398 crore in the year ago period. On a sequential basis, it was down close to 10 percent.

July 10, 2024· 12:36 IST

Stock Market LIVE Updates | Greaves Finance partners with ACKO to facilitate seamless EV ownership across India

Greaves Finance , a wholly owned subsidiary of Greaves Cotton, announced its partnership with ACKO, a tech‐first insurer, to encourage seamless EV ownership in the country.

July 10, 2024· 12:34 IST

Brokerage Call | Citi maintains 'buy' rating on Maruti Suzuki, target at Rs 15,100

#1 UP government’s move w.r.t. tax on hybrid vehicles is positive for Maruti, Toyota & Honda
#2 Company could benefit further as there could be more hybrid model launches
#3 UP contributed 10 percent to PV sales in India in FY24 versus 11 percent to company’s domestic sales
#4 Company’s market share in UP was 44 percent Vs 42 percent nationally
#5 Maintain company as top sector pick
#6 May see further upside to its volumes if other states follow UP government

July 10, 2024· 12:28 IST

Brokerage Call | BofA downgrades HDFC Bank to 'neutral' from 'buy', target cut to Rs 1830

July 10, 2024· 12:24 IST

Brokerage Call | CLSA keeps 'underperform' rating on Godrej Consumer, target Rs 1,079

#1 Remain cautious on the company
#2 Insecticides category growth is structurally slowing
#3 Overseas business, while being rationalised, still face currency challenges

July 10, 2024· 12:19 IST

Stock Market LIVE Updates | JASH Engineering receives 57 crore order in June 2024

The company has received consolidated orders worth Rs 57 crore out of which orders worth Rs 25 crore are for Indian market and orders worth Rs 32 crore are for markets outside India.

As on July 1, 2024, consolidated orders worth Rs 21 crore have been negotiated with clients and formal purchase orders are awaited. Out of this Rs 12 crore are for Indian market and Rs 9 crore are for projects outside India.

July 10, 2024· 12:14 IST

Stock Market LIVE Updates | Sensex recovers more than 300 points from day's low

SENSEX Recovery from Day's Low
CompanyCMPHigh LowGain from Day's Low
Power Grid Corp345.25 345.50
335.50
2.91%
NTPC377.10 383.80
369.901.95%
Tata Motors1,003.80 1,020.00
986.801.72%
Larsen3,648.05 3,693.25
3,601.751.29%HCL Tech1,506.70 1,539.10
1,487.951.26%Titan Company3,229.70 3,251.95
3,190.551.23%SBI852.95 861.00
843.301.14%Asian Paints2,925.70 2,927.05
2,893.951.1%Tech Mahindra1,456.50 1,473.65
1,440.951.08%Sun Pharma1,583.20 1,591.00
1,567.601%

July 10, 2024· 12:12 IST

Sensex Today | Nifty recovers more than 100 points from day's low

NIFTY 50 Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Divis Labs4,620.151.5265.30k
Apollo Hospital6,387.951.07183.93k
HDFC Life630.151.042.04m
SBI Life Insura1,540.501.03519.11k
Britannia5,725.551271.03k
Grasim2,786.100.88728.37k
Power Grid Corp344.100.864.95m
Maruti Suzuki12,923.550.751.53m
Asian Paints2,926.100.73399.70k
LTIMindtree5,409.250.6155.71k
,
NIFTY 50 Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
M&M2,708.60-7.417.72m
Hindalco692.80-2.013.04m
Tata Steel168.60-1.8619.68m
HCL Tech1,505.40-1.682.58m
TCS3,920.15-1.64989.71k
Shriram Finance2,755.05-1.32801.82k
JSW Steel923.20-1.29821.45k
Hero Motocorp5,517.85-1.28172.37k
Kotak Mahindra1,824.95-1.242.16m
UltraTechCement11,546.80-1.14100.36k

July 10, 2024· 12:09 IST

Stock Market LIVE Updates | Llyod Metals stock falls 2% after Rs 1,218 crore fund raise through QIP

Shares of Llyod Metals and Energy fell 2 percent after scaling a 52-week high of Rs 774.90 in the early trade on July 10. This comes a day after the company announced that it raised Rs 1,218 crore through a qualified institutional placement (QIP).

The company issued 1.75 crore shares through the fundraise, offering them at Rs 696 each, implying a 4.93 percent discount to the QIP floor price of Rs 732.08 per share.

Quant Mutual Fund acquired nearly 30 percent of the total shares offered in the QIP. Other major investors include Shamyak Investment, Authum Investment and Infrastructure. Read More

July 10, 2024· 12:04 IST

Sensex Today | Nifty Midcap 100 index recovers 800 points from day's low

NIFTY Midcap 100 Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
Fert and Chem1,050.20-4.99852.49k
Bandhan Bank193.00-3.8716.13m
SAIL150.49-3.5328.47m
Bharat Dynamics1,627.70-3.192.01m
NMDC244.10-2.876.00m
PB Fintech1,385.10-2.81353.20k
Yes Bank25.08-2.79171.67m
CG Power 738.50-2.552.36m
Mazagon Dock5,373.00-2.551.44m
Bank of India120.69-2.46.66m
,
NIFTY Midcap 100 Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Rail Vikas590.958.88127.71m
Mankind Pharma2,149.452.231.30m
One 97 Paytm471.152.064.53m
Fortis Health464.251.97572.48k
IGL529.801.423.71m
Tata Elxsi7,110.001.33153.83k
Godrej Prop3,307.901.19290.99k
Torrent Power1,534.901.07589.73k
APL Apollo1,569.901.01326.88k
Kalyan Jeweller501.600.962.46m

July 10, 2024· 11:58 IST

Sensex Today | BSE Smallcap index declines nearly 1%; Nahar Poly Film, Valor Estate, Kirloskar Brothers among major losers

BSE SMALLCAP Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
Nahar Poly Film298.95-5.626.39k
Kirloskar Bros2,342.50-5.318.22k
Valor Estate207.30-5.04332.40k
Ashapura Mine412.55-5.0317.47k
Cressanda Sol11.78-51.87m
Vikas WSP1.71-548.74k
IEX173.90-51.03m
Suven Life Sci134.15-4.9923.06k
Kingfa Science2,385.00-4.961.16k
Thirumalai Chem308.65-4.94113.26k

July 10, 2024· 11:55 IST

Sensex Today | BSE Midcap index down 0.7%; SAIL, UNO Minda, Linde India among major losers

BSE MIDCAP Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
SAIL150.20-3.631.08m
UNO Minda1,071.10-3.5436.37k
Linde India8,782.70-2.812.08k
PB Fintech1,384.60-2.7917.28k
Godrej Ind892.85-2.577.52k
NMDC244.70-2.57242.32k
SJVN141.65-2.51955.69k
Schaeffler Ind4,190.15-2.473.14k
CG Power 739.10-2.4594.19k
Zee Entertain147.30-2.35541.69k

July 10, 2024· 11:53 IST

Stock Market LIVE Updates | Sterling & Wilson Renewable appoints Shiv Shankar Pandey as director – projects effective July 10, 2024

July 10, 2024· 11:51 IST

Stock Market LIVE Updates | IRM Energy's CFO Karan Kaushal resigns w.e.f. July 31, 2024

July 10, 2024· 11:46 IST

BSE Only Sellers (Intra-day)
CompanyOffer QtyCMP Chg(%)Today Vol 20D Avg Vol
Tinna Rubber an10681.00 1668.10
-5
32673
-
Suven Life Sci7429.00 134.15
-4.99
22707
-
Asian Energy25224.00 329.45
-4.99
27111
24894.45
Sambhaav Media11240.00 5.19
-4.95
94835
-
GTL Infra216344603.00 3.58
-4.79
2457087
-
Teamo Productio2500.00 1.62
-4.71
11676400
-
G G Engineering15585063.00 2.27
-4.62
1961163
-
Bartronics30209.00 20.71
-1.99
3633
29283.75

July 10, 2024· 11:42 IST

BSE Only Buyers (Intra-day)
CompanyBid QtyCMP Chg(%)Today Vol 20D Avg Vol
RETAIL15.00 37.52
0
6768
-
Kaushalya Infra87.00 1107.50
5
1160
-
Max India1592.00 337.60
4.99
10015
-
Century Extr64561.00 24.86
4.98
182106
-
Reliable Data S11574.00 53.40
4.5
1655
-

July 10, 2024· 11:31 IST

Stock Market LIVE Updates | Maruti, Britannia among top stocks that hit fresh 52-week highs

NIFTY 50 Stocks touched 52-week high
Company52-Week HighDay’s HighCMP
Maruti Suzuki13300.0013300.0012,958.90
Britannia5792.705792.705,714.95
Grasim2812.252812.252,776.95
ICICI Bank1252.751252.751,239.00

July 10, 2024· 11:26 IST

Stock Market LIVE Updates | ITCONS bags contract from UP police to provide 28 semi-skilled employees

July 10, 2024· 11:22 IST

Stock Market LIVE Updates | Llyod Metals stock falls after Rs 1,218 crore fund raise through QIP

Shares of Llyod Metals and Energy fell 2 percent after scaling a 52-week high of Rs 774.90 on July 10. This comes a day after the company announced that it raised Rs 1,218 crore through a qualified institutional placement (QIP). READ MORE

July 10, 2024· 11:14 IST

Stock Market LIVE Updates | Nifty Auto, Nifty Media top laggards at this hour, slip over 2%

NSE Indian Indices Performance
IndexCMP Chg(%)YTD(%) 1 Week(%)1 Month(%) 1 Year(%)
NIFTY AUTO25245.30
-2.24
35.59
0.25
0.89
63.90
NIFTY IT37316.00
-0.94
5.07
0.00
8.08
27.82
NIFTY PHARMA20480.35
-0.8
21.68
2.84
3.57
48.93
NIFTY FMCG58902.05
-0.47
3.36
3.02
1.57
12.12
NIFTY PSU BANK7234.50
-1.32
26.62
-0.27
-1.35
63.18
NIFTY METAL9705.55
-1.78
21.65
-2.36
-0.92
52.00
NIFTY REALTY1112.45
-1.3
42.07
-0.13
2.66
111.13
NIFTY ENERGY42166.00
-1.04
25.99
0.91
4.09
65.38
NIFTY INFRA9177.80
-0.93
25.66
0.40
4.21
57.44
NIFTY MEDIA2003.70
-2.13
-16.10
-2.45
-0.18
6.72

July 10, 2024· 11:08 IST

Sensex Today | Supreme Industries jumps 4% after Jefferies' Buy and target revision

Shares of Supreme Industries surged over 4 percent to Rs 6,264 per share on July 10 after global brokerage firm Jefferies shared a 'Buy' call and raised target price to Rs 6,700 apiece, indicating an upside of 7 percent from current levels. The upgrade came after volumes grew 22 percent on-year during April-May period despite a high base. Read More

July 10, 2024· 11:07 IST

Sensex Today | 2.08 million shares of REC traded in a block: Bloomberg

July 10, 2024· 10:59 IST

Brokerage Call | Investec maintains 'buy' rating on BSE, target at Rs 3,400

#1 Close our long fast on the stock
#2 Regulatory risks could be severe than our expectations
#3 Regulatory risks may outweigh benefits of rising volumes
#4 Regulatory changes if implemented, will impact our forward estimates
#5 Company aims to protect profitability through higher market share, lower clearing charges

July 10, 2024· 10:57 IST

Sensex Today | Hold Emcure Pharmaceuticals for long term: Prashanth Tapse, Senior VP (Research), Mehta Equities

Emcure Pharma debuted the markets with strong listing gains in line with our expectations along with robust demand received from all types of investors. We believe the investor demand has come considering reasonable valuations and an opportunity to invest in the leading pharmaceutical company in India in the gynecology and HIV antiviral therapeutic areas.

While for long term investors given its strategic focus on high-growth therapeutic areas, innovative product portfolio, successful global expansions coupled and solid R&D foundation, Emcure is well-positioned for sustained growth for long term as well. Hence, we recommend allotted investors to “HOLD” the Emcure Pharmaceuticals Ltd for a long term perspective.

July 10, 2024· 10:50 IST

Hold Emcure Pharmaceuticals with a stop loss at Rs 1200: Shivani Nyati, Head of Wealth, Swastika Investmart

Emcure Pharmaceuticals, a leading player in the Indian pharma market, witnessed a strong debut on the stock exchanges, listing at Rs. 1325 per share. This translates to a significant 31.45% gain over its issue price of Rs. 1008. The listing aligns with pre-listing expectations, fueled by the robust investor response.

The oversubscription and listing gain highlight investor confidence in Emcure's established brand, diversified product portfolio, and international market reach. However, the pharmaceutical industry's regulatory stringency and potential disruptions in the raw material supply chain still require ongoing monitoring.

Emcure Pharma's listing performance is positive, which aligns with pre-listing anticipation. The strong investor response and listing gain demonstrate confidence in the company's future potential. However, the identified risks within the pharmaceutical industry necessitate ongoing monitoring by investors. Investors may hold their positions by keeping a stop loss at 1200.

July 10, 2024· 10:48 IST

Stock Market LIVE Updates | Infosys bags 5-year order from Sector Alarm

July 10, 2024· 10:43 IST

IPO Listing |Bansal Wire lists at 39% premium on NSE

Shares of Bansal Wire Industries made an impressive debut on the NSE after listing at Rs 356, a premium of 39 percent over the issue price of Rs 256 on July 10 following a successful Initial Public Offering (IPO). This book-built IPO consisted entirely of a fresh issue of 2.91 crore shares.

Bansal Wire's Rs 745-crore public offer received bids for over 67 crore equity shares, surpassing the offer size of 2.14 crore equity shares by 31.25 times.

July 10, 2024· 10:40 IST

IPO Listing | Emcure Pharma lists at 31% premium on NSE

Emcure Pharmaceuticals shares made a strong debut on July 10 after listing at Rs 1,325.05, a premium of 31.5 percent over the issue price of Rs 1,008.

QIBs led the bidding, subscribing a massive 92.94 times their allotted quota, while non-institutional investors picked up 42.57 times the reserved portion. Employees of Emcure Pharmaceuticals showed significant interest, placing bids 7.9 times their allotted quota while retail investors bought 6.33 times.

July 10, 2024· 10:35 IST

Sensex Today | Smallcap index underperforms

NSE Indian Indices Performance
IndexCMP Chg(%)YTD(%) 1 Week(%)1 Month(%) 1 Year(%)
NIFTY 5024205.25
-0.93
11.38
-0.33
4.07
25.05
NIFTY BANK52133.40
-0.83
7.95
-1.80
4.73
16.21
NIFTY Midcap 10056093.65
-1.72
21.46
-0.35
5.37
56.08
NIFTY Smallcap 10018561.00
-2.09
22.57
-0.75
6.21
67.91
NIFTY NEXT 5072794.40
-1.45
36.46
0.29
4.37
66.35

July 10, 2024· 10:29 IST

Sensex Today | Motilal Oswal retains 'buy' rating on Raymond

The SOTP-based model values the real estate business at 8x FY26E EV/EBITDA on embedded EBITDA, assuming pre-sales of Rs 40 billion and 25% EBITDA margin, and arrives at a valuation of Rs 80 billion (i.e., Rs 1200/share).

Broking House assigns a P/E of 20x on FY26E to the lifestyle business, arriving at a value of Rs 2,340/share (Rs 2,930 post demerger in RLL).

The engineering business is valued at 8x FY26E EV/EBITDA, arriving at a value of Rs 215/share. The combined value of the three businesses works out to be Rs 3,755/share.

Accordingly, MOST expect the per share value of company will be ~ Rs 1,415 (value of Rs 94 billion) after the record date (11 Jul’24), which includes Rs 1,200 of real estate
and Rs 215 of the engineering business.

The Lifestyle business could be listed at ~ Rs 2,930/share (20x FY26E EPS) and value of Rs 156 billion.

July 10, 2024· 10:19 IST

Sensex Today | Krishna Institute to acquire 100% controlling stake (100%) in Chalasani Hospitals for Rs 75 crore

July 10, 2024· 10:15 IST

Stock Market LIVE Updates | Marathon Nextgen Realty Q1 area sold down 45% YoY & down 21% QoQ at 79,239 sq ft

July 10, 2024· 10:10 IST

Sensex Today | Nifty Metal index sheds 0.7%; SAIL, NALCO, NMDC down 2-3%

NIFTY METAL Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
SAIL151.15-3.18.15m
NALCO197.96-2.933.71m
NMDC245.40-2.361.70m
MOIL528.60-2.36524.47k
Vedanta455.80-2.122.11m
Jindal Steel1,007.00-1.45242.20k
Hind Zinc663.75-1.4111.80k
Hindalco697.40-1.361.21m
Coal India488.75-1.021.00m
Ratnamani Metal3,609.40-0.822.48k

July 10, 2024· 10:08 IST

Stock Market LIVE Updates | RVNL signs MoU with Tatweer Middle East & Africa LLC

July 10, 2024· 10:01 IST

Markets@10 | Sensex, Nifty trade lower

The Sensex was down 231.62 points or 0.29 percent at 80,120.02, and the Nifty was down 63.10 points or 0.26 percent at 24,370.10. About 1324 shares advanced, 1772 shares declined, and 112 shares unchanged.

NIFTY 50 Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Maruti Suzuki13,216.003.03706.40k
Eicher Motors4,916.351.82259.93k
Britannia5,756.801.55104.26k
Divis Labs4,595.000.9574.31k
Titan Company3,240.900.8282.82k
NTPC380.050.83.88m
Grasim2,783.400.78428.94k
Bharti Airtel1,445.050.66750.92k
Apollo Hospital6,360.000.6336.72k
Bajaj Auto9,590.000.5951.70k
,
NIFTY 50 Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
M&M2,765.50-5.472.97m
HCL Tech1,510.20-1.37729.05k
SBI850.50-1.254.30m
Shriram Finance2,758.60-1.2200.01k
Coal India488.90-0.99904.04k
BPCL297.30-0.971.70m
Hero Motocorp5,535.20-0.9785.18k
Reliance3,153.05-0.86479.61k
Hindalco701.20-0.82988.81k
UltraTechCement11,584.95-0.8129.33k

July 10, 2024· 09:57 IST

Sensex Today | Metal Coatings re-appoints Pramod Khandelwal as MD of company for 3 years w.e.f. October 1, 2024

July 10, 2024· 09:54 IST

IPO Listing | Bansal Wire Industries to debut today

Bansal Wire Industries is poised for a stellar listing on July 10 after receiving robust demand from market participants across all categories.

The IPO was subscribed an impressive 59.57 times, reflecting strong investor confidence in the company. With an issue price set at Rs 256 per share, the stock is expected to debut at a premium of approximately 30 percent, potentially listing around Rs 330-340 per share.

July 10, 2024· 09:50 IST

Brokerage Call | Morgan Stanley keeps 'overweight' rating on Maruti Suzuki, target at Rs 14,105

#1 Policy support points to a portfolio of power trains being best strategy in autos
#2 UP government’s move is a sizeable incentive for hybrid cars
#3 UP formed 10 percent of PV industry sales & 11 percent of company’s sales in FY24
#4 UP's move could encourage other states to follow
#5 Portfolio of powertrains deserves a premium

July 10, 2024· 09:48 IST

Stock Market LIVE Updates | IFSCA grants registration to Abans Holdings IFSC branch as registered fund management entity (non-retail)

July 10, 2024· 09:46 IST

NSE Large Deals
CompanyQuantityPriceValue(Cr)
BHEL32264329.551.06
CESC56341184.91.04
Eicher Motors251449501.24
HCL Tech136211519.452.07
HDFC Bank1387216322.26
HUDCO167075335.75.61
HUDCO32948335.11.1
IEX67307177.911.2
Indian Renew79901246.041.97
Indian Renew70559245.91.74

July 10, 2024· 09:42 IST

Sensex Today | BSE Realty index up nearly 1%; Brigade Enterprises, Oberoi Realty, DLF among top contributors

BSE REALTY Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Brigade Ent1,339.153.25.25k
Oberoi Realty1,756.502.281.63k
DLF853.001.7522.88k
Godrej Prop3,316.651.47947
Swan Energy733.251.1164.51k
Prestige Estate1,796.751.012.84k
Sobha2,027.300.851.19k
Macrotech Dev1,573.550.833.30k
Mahindra Life622.900.522.61k

July 10, 2024· 09:38 IST

Stock Market LIVE Updates | Mahindra Group reduces price of its top XUV700 Model to Rs 19.49 lakh ex-showroom

July 10, 2024· 09:34 IST

Sensex Today | Nifty Bank index shed 0.5%; AU Small Finance Bank, Bandhan Bank, Federal Bank among major losers

NIFTY BANK Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
AU Small Financ630.85-1.441.29m
Bandhan Bank198.45-1.152.79m
Federal Bank186.04-0.912.82m
Kotak Mahindra1,832.15-0.85972.29k
Axis Bank1,279.50-0.771.70m
SBI854.75-0.762.80m
PNB121.53-0.74.98m
ICICI Bank1,243.80-0.364.06m
IndusInd Bank1,429.15-0.36678.15k
HDFC Bank1,630.70-0.354.16m

July 10, 2024· 09:32 IST

Stock Market LIVE Updates | Delta Corp Q1 net profit down Rs 21.7 crore Vs Rs 67.9 crore, YoY

July 10, 2024· 09:31 IST

BSE Price Shockers (3 days)
CompanyCMPChg(%)3 Days Ago Price
Modipon79.0049.6852.78
Mahaan Foods76.3245.3752.50
Ascensive97.1745.0367.00
Roni Households74.0038.5853.40
Northern Spirit262.0032.86197.20
SCSL89.6432.2367.79
SHRYDUS IND24.1931.5418.39
Shri Jagdamba940.0029.18727.65
Mukesh Babu Fin168.0028.64130.60
Kaushalya Infra1,107.5027.04871.80

July 10, 2024· 09:26 IST

Stock Market LIVE Updates | Havells India is planning to expand manufacturing capacities of cables from 32.90 Lk Kms to 41.20 Lk Kms in Alwar

July 10, 2024· 09:21 IST

NSE Volume Shockers
CompanyCMP Chg(%)Today Vol 5D Avg VolVol Chg(%)
SP Refractories212.70
-5%
18.40k
1,920.00
858.00
RETAIL44.86
19.98%
259.22k
36,769.80
605.00
Mcleod33.64
4.34%
3.12m
590,560.20
428.00
RPP Infra Proj176.00
6.34%
891.99k
190,488.20
368.00
Tarmat88.00
4.15%
68.94k
25,921.80
166.00
Vijaya Diagnost833.65
2.06%
248.66k
96,290.60
158.00
Sagardeep Alloy31.72
8.26%
58.05k
23,041.60
152.00
PG Electroplast401.00
0.25%
421.79k
171,791.00
146.00
Manaksia Alumin35.14
8.62%
238.49k
111,727.20
113.00
Vadivarhe Speci50.00
-2.63%
12.00k
6,000.00
100.00

July 10, 2024· 09:21 IST

Sensex Today | Nykaa shares surge 2.5% after 14.7 million shares traded blocks

July 10, 2024· 09:20 IST

Stock Market LIVE Updates | RVNL gets LoA for project worth Rs 187.34 crore from Maharashtra Metro Rail Corp

July 10, 2024· 09:19 IST

Stock Market LIVE Updates | Delhivery shares fall post 24.43 million shares traded in block

July 10, 2024· 09:18 IST

Mankind Pharma shares gain post 3.7 million shares block deal

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