Closing Bell: Nifty below 25,500, Sensex down 300 pts; realty, financials drag

Indian equity indices ended lower on July 2 with Nifty below 25,500. At close, the Sensex was down 287.60 points or 0.34 percent at 83,409.69, and the Nifty was down 88.40 points or 0.35 percent at 25,453.40.

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.

The consolidation movement continued in the market on Wednesday and Nifty closed the day lower by 88 points. After opening with a positive note, the market unable to sustain and started to show weakness for early to mid part of the session. Minor upside recovery was seen towards the end and Nifty closed off the lows.

A reasonable negative candle was formed on the daily chart with minor lower shadow. Technically, this market action indicates downward correction in the market from near the hurdle of previous opening down gap around 25700 levels.

Nifty is now sliding down to the important cluster support of around 25300-25200 levels (support of ascending trend line on the daily chart and the support as per change in polarity on the weekly chart). There is a higher possibility of sharp bounce back emerging from near the mentioned lower support area in the next 1-2 sessions.

The near-term uptrend of Nifty remains intact. The current weakness could end near the important supports of around 25300-25200 levels in the next 1-2 sessions and the market could witness sharp bounce back from the lower levels.

Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ends 88 points lower, while the Sensex was down by 288 points. Among sectors, Metal index outperformed, rallied 1.44 percent, whereas the Reality index lost the most, shedding 1.40 percent. Technically, after a muted open, the market has been consistently facing selling pressure at higher levels. On daily charts, it has formed a bearish candle, and on intraday charts, it is holding a lower top formation, which is largely negative.

We are of the view that, as long as the market is trading below 25,500/83500, the weak sentiment is likely to continue. On the lower side, the market could retest the level of 25,300/83000. Further sell-offs may also continue, which could drag the market down to 25,225/82800. On the flip side, if the market rises above 25,500/83500, it could bounce back up to 25,600–25,670/83800-84000.

Today, the Indian stock market closed with notable declines amid broad-based selling pressure, particularly in banking, financials, and realty sectors. The BSE Sensex fell by approximately 287 points (0.34%) to close near 83,409, while the NSE Nifty slipped about 88 points (0.35%) to end around 25,453. The key reason for the negative closing was a sharp selloff in major financial stocks such as Shriram Finance, Bajaj Finserv, IndusInd Bank and Bajaj Finance, which weighed heavily on the indices.

The Nifty Bank index dropped 0.80%, dragging down the overall market sentiment. Realty stocks also fell sharply, with Nifty Realty declining 1.4%, marking its fifth consecutive day of losses. This sectoral weakness was compounded by cautious investor sentiment amid concerns over high valuations, persistent foreign institutional investor (FII) selling, and mixed global cues. On the positive side, metal stocks including Tata Steel and JSW Steel outperformed, gaining around +2%, supported by easing coking coal prices and cost reduction efforts by companies.

The persistent fragility rippling through Asian currencies has exerted a profound downward pressure on the local rupee. This susceptibility has been compounded by the resurgent strength of the U.S. dollar against major currencies, a prevailing risk-averse sentiment among investors, foreign funds outflows, and a sustained dollar demand for hedgers.

The rupee is encountering formidable resistance in breaching the 85.40 mark in past three days amid dollar bargain buying.

After a moderate start, the Index struggled to sustain higher levels due to selling pressure in heavyweight stocks, which dragged the Index below the 25,400 mark. However, it managed to recover some of the losses towards the end and eventually settled at 25,453.40 with a loss of 88.40 points. Among sectors, Metal emerged as the best performer, advancing over 1.40%, followed by Auto. In contrast, the Realty segment extended its underperformance, correcting by over 1.40%. Banking indices also faced selling pressure as both BankNifty and PSU Banking declined by 0.80% & 0.83%, respectively.

The disparity was seen in the Broader markets as Midcaps outperformed while Smallcaps performed in line with the Frontline Index. Nifty50 tested its immediate support at 25,400, while 25,600 remains a key resistance level. A decisive break of either level is likely to lead to a directional move.

Indian rupee ended 18 paise lower at 85.71 per dollar on Wednesday versus Tuesday's close of 85.53.

Indian equity indices ended lower on July 2 with Nifty below 25,500.

At close, the Sensex was down 287.60 points or 0.34 percent at 83,409.69, and the Nifty was down 88.40 points or 0.35 percent at 25,453.40. About 1716 shares advanced, 2125 shares declined, and 167 shares unchanged.

Biggest Nifty losers were Shriram Finance, Bajaj Finserv, IndusInd Bank, HDFC Life, L&T, while gainers were Tata Steel, JSW Steel, UltraTech Cement, Maruti Suzuki, Asian Paints.

Among sectors, metal index up 1.4 percent, Consumer Durables added 1 percent, while PSU bank, capital goods, realty, media, power down 0.4-1.4 percent.

The BSE midcap and smallcap index shed 0.2 percent each.

Indian Rupee declined on weak domestic equity markets and a rise in crude oil prices. a slight recovery in the US dollar too weighed on the Rupee. Economic data from the US was upbeat as ISM manufacturing PMI and JOLTS job openings topped forecast.

We expect Rupee to decline on trade tariff uncertainty as the 9th July deadline is approaching. Incoming statements by US President Donald Trump regarding tariffs is keeping the markets on the hook. 10-year US bond yields are also off the lows. However, improved global risk sentiments amid ceasefire between Israel and Iran may support the rupee at lower levels. Traders may take cues from ADP Non-Farm Employment data from the US. USDINR spot price is expected to trade in a range of Rs 85.45 to Rs 86.05.

The company has received an order worth $3.6 million (CIF) from African Rail Company for the supply of two fully overhauled ALCO locomotives for deployment in Zimbabwe, Mozambique, and Botswana.

Additionally, the RITES-Aryan joint venture has received the Letter of Acceptance (LOA) for the Tumakuru Station redevelopment project, worth Rs 37.81 crore, from South Western Railway.

The project involves civil works, signalling and telecommunication works, and electrical general services at Tumakuru Station.

The company has received a show cause notice from CGST, Ludhiana, for alleged tax dues of Rs 51.86 crore along with applicable interest and a penalty equivalent to the tax dues, if any.

The notice is based on alleged discrepancies in ITC reconciliation as per GST returns for FY 2018–19 to FY 2020–21 and suppression of outward tax liability due to variance between E-way bills and GST returns.

#1 CCI ordered an investigation on company for alleged abuse of its dominant market position

#2 Company has sought an opportunity (From CCI) to present its position

#3 Company says, Indian paint market is highly competitive, with low entry barriers

#4 CCI has tasked its director general to submit report within 90 days

#5 Report to be submitted without hearing company, before passing the current order

#6 Believe this complaint is reflective of the increased competitive activity in the industry

#7 Complaint will increase the scrutiny on the incumbent responses to new entrants

QIB – 0.00 times

NII - 0.43 times

Retail – 0.47 times

Overall – 0.33 times

The share touched a 52-week high of Rs 2,175.00 and a 52-week low of Rs 1,293.00 on 03 October, 2024 and 04 March, 2025, respectively.

Currently, the stock is trading 16.76 percent below its 52-week high and 40.02 percent above its 52-week low.

Market capitalisation stands at Rs 51,596.40 crore.

The Sensex was down 431.64 points or 0.52 percent at 83,265.65, and the Nifty was down 129.90 points or 0.51 percent at 25,411.90. About 1478 shares advanced, 2039 shares declined, and 139 shares unchanged.

The Competition Commission of India (CCI) has ordered its Director General (DG) to investigate allegations of abuse of market dominance by paint maker Asian Paints.

This investigation follows a complaint raised by Grasim Industries, a new entrant into the paint market through Birla Opus Paints, as per an official order dated July 1. In the complaint, Birla Opus Paints also accused Asian Paints of placing restrictive clauses with its distributors, discouraging them from selling Birla Paints’ products.

Indian rupee is trading 21 paise lower at 85.74 per dollar versus Tuesday's close of 85.53.

Bharat Forge concluded the acquisition of AAM India Manufacturing Private Limited (AAM India) at an Equity Value of Rs 7,464.6 million including Cash on

books of the acquired entity of Rs 1,894.8 million. This cash is available for addressing future growth opportunities.

Bharat Forge was quoting at Rs 1,310.35, up Rs 26.05, or 2.03 percent. It has touched an intraday high of Rs 1,319.00 and an intraday low of Rs 1,275.60. It was trading with volumes of 50,243 shares.

In the previous trading session, the share closed down 1.80 percent or Rs 23.60 at Rs 1,284.30.

The share touched a 52-week high of Rs 1,770.45 and a 52-week low of Rs 919.10 on 01 August, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 25.99 percent below its 52-week high and 42.57 percent above its 52-week low.

Market capitalisation stands at Rs 62,646.34 crore.

#1 Company had 7.3% market share in the E2W industry in June 2025

#2 Launched Vida VX2 EVOOTER in two variants – VX2 Plus & VX2 Go

#3 Model offers removable batteries, fast charging, smart & connected features

#4 Partnered with financiers to offer BaaS, see it as an interesting launch

#5 Customer response in key urban markets will be a key to track

The Sensex was down 445.82 points or 0.53 percent at 83,251.47, and the Nifty was down 134.00 points or 0.52 percent at 25,407.80. About 1418 shares advanced, 2077 shares declined, and 125 shares unchanged.

IndusInd Bank was quoting at Rs 857.00, down Rs 22.35, or 2.54 percent. It has touched an intraday high of Rs 876.00 and an intraday low of Rs 848. It was trading with volumes of 409,512 shares.

In the previous trading session, the share closed up 0.87 percent or Rs 7.55 at Rs 879.35.

The share touched a 52-week high of Rs 1,498.70 and a 52-week low of Rs 605.40 on 19 September, 2024 and 12 March, 2025, respectively.

Currently, the stock is trading 42.82 percent below its 52-week high and 41.56 percent above its 52-week low.

Market capitalisation stands at Rs 66,765.09 crore.

The company’s subsidiary, Nodwin Gaming, has completed the acquisition of a 92.30% stake in AFK Gaming from its founders Nishant Patel, Rakesh Ramchandran, Siddharth Nayyar, and other shareholders. Following this acquisition, AFK has become a wholly owned subsidiary of Nodwin and a step-down subsidiary of Nazara Technologies.

Bharat Electronics was quoting at Rs 423.45, down Rs 8.85, or 2.05 percent. It has touched an intraday high of Rs 432.30 and an intraday low of Rs 422.50. It was trading with volumes of 1,026,062 shares.

In the previous trading session, the share closed up 2.51 percent or Rs 10.60 at Rs 432.30.

The share touched a 52-week high of Rs 435.95 and a 52-week low of Rs 240.15 on 01 July, 2025 and 19 February, 2025, respectively.

Currently, the stock is trading 2.87 percent below its 52-week high and 76.33 percent above its 52-week low.

Market capitalisation stands at Rs 309,532.58 crore.

HCLTech and Equinor, Europe's largest energy supplier and a pioneer in renewables and low-carbon solutions, have expanded their IT collaboration to support the next phase of Equinor’s digital transformation. This expanded relationship will cover Equinor’s IT landscape across several key strategic areas.

Bajaj Hindusthan Sugar has touched an intraday high of Rs 27.50 and an intraday low of Rs 25.76. It was trading with volumes of 4,757,349 shares.

In the previous trading session, the share closed down 0.62 percent or Rs 0.16 at Rs 25.76.

The share touched a 52-week high of Rs 46.10 and a 52-week low of Rs 16.56 on 31 July, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 41.06 percent below its 52-week high and 64.07 percent above its 52-week low.

Market capitalisation stands at Rs 3,470.59 crore.

Power Grid Corporation of India was quoting at Rs 295.35, down Rs 2.30, or 0.77 percent. It has touched an intraday high of Rs 298.65 and an intraday low of Rs 295.20. It was trading with volumes of 108,333 shares.

In the previous trading session, the share closed down 0.72 percent or Rs 2.15 at Rs 297.65.

The share touched a 52-week high of Rs 366.20 and a 52-week low of Rs 247.50 on 25 September, 2024 and 28 February, 2025, respectively.

Currently, the stock is trading 19.35 percent below its 52-week high and 19.33 percent above its 52-week low.

Market capitalisation stands at Rs 274,693.33 crore.

Wipro was quoting at Rs 264.95, up Rs 0.50, or 0.19 percent. It has touched an intraday high of Rs 268.60 and an intraday low of Rs 264.50. It was trading with volumes of 234,097 shares.

In the previous trading session, the share closed down 0.58 percent or Rs 1.55 at Rs 264.45.

The share touched a 52-week high of Rs 324.55 and a 52-week low of Rs 225.05 on 23 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 18.36 percent below its 52-week high and 17.73 percent above its 52-week low.

Market capitalisation stands at Rs 277,729.02 crore.

The company has increased the prices of all ferro grades of manganese ore and all chemical grades by 2%, effective July 1. Prices of all SMGR (Mn-30% & Mn-25%) and fines grades remain unchanged for July.

MOIL was quoting at Rs 390.35, up Rs 6.00, or 1.56 percent. It has touched an intraday high of Rs 395.00 and an intraday low of Rs 387.95. It was trading with volumes of 39,859 shares.

In the previous trading session, the share closed down 0.94 percent or Rs 3.65 at Rs 384.35.

The share touched a 52-week high of Rs 588.35 and a 52-week low of Rs 280.60 on 08 July, 2024 and 21 November, 2024, respectively.

Currently, the stock is trading 33.65 percent below its 52-week high and 39.11 percent above its 52-week low.

Market capitalisation stands at Rs 7,943.05 crore.

#1 Hero Vida VX2 launched at a starting price of Rs 59,500

#2 BaaS may appeal to cost-conscious users like fleet model operators

#3 Have so far not seen the general consumers in India warming up to BaaS, hence will closely monitor

#4 Stock currently trades at 13.5x FY27F EPS

Indian rupee is trading 20 paise lower at 85.73 per dollar versus Tuesday's close of 85.53.

ITI was quoting at Rs 326.75, down Rs 3.20, or 0.97 percent. It has touched an intraday high of Rs 335.40 and an intraday low of Rs 323. It was trading with volumes of 53,383 shares.

In the previous trading session, the share closed down 1.92 percent or Rs 6.45 at Rs 329.95.

The share touched a 52-week high of Rs 592.85 and a 52-week low of Rs 210.20 on 07 January, 2025 and 25 October, 2024, respectively.

Currently, the stock is trading 44.88 percent below its 52-week high and 55.45 percent above its 52-week low.

Market capitalisation stands at Rs 31,396.98 crore.

#1 Total revenue from operations grow 12.6% to Rs 885 crore Vs Rs 786 crore (YoY)

#2 Same-store-sales growth (SSSG) at +1%

#3 Company opens 15 new stores & closes 2 stores

#4 Total number of stores at 510 as of June 2025

V-Mart Retail was quoting at Rs 834.45, down Rs 17.65, or 2.07 percent. It has touched an intraday high of Rs 872.50 and an intraday low of Rs 828.75. It was trading with volumes of 16,704 shares.

In the previous trading session, the share closed down 0.69 percent or Rs 5.90 at Rs 852.10.

The share touched a 52-week high of Rs 1,129.33 and a 52-week low of Rs 675.01 on 31 October, 2024 and 12 March, 2025, respectively.

Currently, the stock is trading 26.11 percent below its 52-week high and 23.62 percent above its 52-week low.

Market capitalisation stands at Rs 6,623.35 crore.

The company's subsidiary, Paras Anti Drone Technologies, announced that France-based CERBAIR, a leading European counter-UAV company, intends to acquire up to 30 CHIMERA 200 systems—an advanced man-portable radio frequency detection and neutralization device. These systems are designed as a primary defence against drone and swarm drone threats. The deal is worth approximately Rs 22 crore.

South Indian Bank was quoting at Rs 31.05, down Rs 0.52, or 1.65 percent. It has touched a 52-week high of Rs 32.27. It has touched an intraday high of Rs 32.27 and an intraday low of Rs 31.01.

Market capitalisation stands at Rs 8,123.74 crore.

#1 CCI ordered an investigation on company for alleged abuse of its dominant market position

#2 Company has sought an opportunity (From CCI) to present its position

#3 Company says, Indian paint market is highly competitive, with low entry barriers

#4 CCI has tasked its director general to submit report within 90 days

#5 Report to be submitted without hearing company, before passing the current order

#6 Believe this complaint is reflective of the increased competitive activity in the industry

#7 Complaint will increase the scrutiny on the incumbent responses to new entrants

The company has received an order worth $3.6 million (CIF) from African Rail Company for the supply of two fully overhauled ALCO locomotives for deployment in Zimbabwe, Mozambique, and Botswana.

Additionally, the RITES-Aryan joint venture has received the Letter of Acceptance (LOA) for the Tumakuru Station redevelopment project, worth Rs 37.81 crore, from South Western Railway.

The project involves civil works, signalling and telecommunication works, and electrical general services at Tumakuru Station.

The Sensex was down 236.66 points or 0.28 percent at 83,460.63, and the Nifty was down 69.15 points or 0.27 percent at 25,472.65. About 1545 shares advanced, 1911 shares declined, and 127 shares unchanged.

QIB – 0.00 times

NII - 0.17 times

Retail – 0.27 times

Overall – 0.17 times

#1 Total monthly sales at 60,924 units

#2 Domestic sales at 44,024 units & exports at 16,900 units

#3 SUVs contributes 67.6% to company's total domestic sales in June 2025

Sigachi Industries was quoting at Rs 43.09, down Rs 2.98, or 6.47 percent. It has touched an intraday high of Rs 45.93 and an intraday low of Rs 41.01. It was trading with volumes of 2,941,385 shares.

In the previous trading session, the share closed down 5.57 percent or Rs 2.72 at Rs 46.07.

The share touched a 52-week high of Rs 69.75 and a 52-week low of Rs 34.51 on 01 August, 2024 and 17 February, 2025, respectively.

Currently, the stock is trading 38.22 percent below its 52-week high and 24.86 percent above its 52-week low.

Market capitalisation stands at Rs 1,646.54 crore.

HDB Financial Services made its public market entry on Wednesday, July 2, at a 13% premium relative to its initial public offering (IPO) price of Rs 740 per share. The company’s Assets Under Management (AUM) is projected to increase at a Compounded Annual Growth Rate (CAGR) of 20% over the next three years. Management anticipates a composition of 70% secured and 25-30% unsecured loans going forward.

HDB Financial boasts a highly diversified lending portfolio (both geographically and in product offerings), is extremely granular (with the top 20 accounts representing approximately 0.34% of AUM), and operates a large-scale lending franchise that serves over 19 million customers. Its approach emphasizes direct sourcing (about 82% of FY25 disbursements), targeting remote regions (70% of branches are in tier 4 towns and smaller), and catering to low-to-mid-income demographics with little or no credit history, all supported by a skilled management team (many of whom have been with HDBFS for more than ten years), reflecting a strong commitment and consistency. With a favorable interest rate environment supported by frontloaded repo rate cuts facilitating net interest margin expansion, reduced credit costs, and an enhancing growth outlook, HDBFS is well-prepared to boost both growth and profitability.

The Board has appointed Rajendra Velagapudi as Managing Director and Chief Executive Officer (CEO) of the company, effective July 1. He previously served as Managing Director of the company.

Cyient DLM was quoting at Rs 472.35, down Rs 2.90, or 0.61 percent. It has touched an intraday high of Rs 478.80 and an intraday low of Rs 468.80. It was trading with volumes of 2,553 shares.

In the previous trading session, the share closed down 0.05 percent or Rs 0.25 at Rs 475.25.

The share touched a 52-week high of Rs 872.55 and a 52-week low of Rs 350.15 on 29 July, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 45.87 percent below its 52-week high and 34.9 percent above its 52-week low.

Market capitalisation stands at Rs 3,748.78 crore.

Ashwani Maheshwari has been appointed as Deputy Managing Director of the company, effective July 1.

Sharda Motor Industries was quoting at Rs 2,052.30, up Rs 89.30, or 4.55 percent. It has touched an intraday high of Rs 2,090.10 and an intraday low of Rs 1,960.70. It was trading with volumes of 240,933 shares.

In the previous trading session, the share closed up 4.44 percent or Rs 83.40 at Rs 1,963.00.

The share touched a 52-week high of Rs 2,952.10 and a 52-week low of Rs 1,250.00 on 09 July, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 30.48 percent below its 52-week high and 64.18 percent above its 52-week low.

Market capitalisation stands at Rs 5,890.89 crore.

Listing of HDB Financial Services was in line with our expectations, reflecting strong investor appetite. The IPO garnered over Rs 1.61 lakh crore in bids, underscoring massive institutional and retail interest. This makes HDB's offering the second most subscribed IPO among Rs 10,000+ crore issues, trailing only the record-breaking Tata Technologies listing. However, it did fall short of surpassing the all-time high Rs 3 lakh crore+ subscription seen in the Bajaj Housing Finance IPO.

We believe the robust response signals market confidence in HDB's business model, parentage (as an HDFC group company), and long-term growth potential in the NBFC space. If the listing meets expectations, it would reaffirm investor appetite for high-quality financial services plays, especially those backed by trusted legacy institutions.

Despite broader market uncertainties driven by geopolitical tensions, the strong institutional participation underscores confidence in HDB’s solid fundamentals and long-term growth potential. This IPO sets a strong precedent, reinforcing the company’s positioning as a key NBFC player under the HDFC group umbrella.

We believe company’s strategic positioning to benefit from liquidity push from RBI, especially with high focus on SME NBFC growth.

Given the healthy listing prevailing bullish sentiment in the market, we recommend holding the stock for the long term, as HDB Financial Services is strategically positioned to benefit from India’s structural credit growth, especially within the retail and SME financing segments.

For Non-allotted investors:

Those who did not receive any allotment may consider accumulating on any post-listing corrections, particularly during short-term volatility triggered by broader market movements. As we see HDB Financial Services offers a value-driven opportunity with both defensive and growth characteristics, best suitable for investors with a 3–5 year investment horizon.

Keshav Ruthiya has been appointed as Chief Procurement Officer of the company, effective August 1. Additionally, Rajesh Naik has been appointed as President – Manufacturing, effective August 1. He will succeed Prashant Patil and lead the operations function.

Laxmi Organic Industries was quoting at Rs 196.55, down Rs 1.90, or 0.96 percent. It has touched an intraday high of Rs 199.00 and an intraday low of Rs 195.45. It was trading with volumes of 6,334 shares.

In the previous trading session, the share closed up 0.68 percent or Rs 1.35 at Rs 198.45.

The share touched a 52-week high of Rs 325.50 and a 52-week low of Rs 160.30 on 11 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 39.62 percent below its 52-week high and 22.61 percent above its 52-week low.

Market capitalisation stands at Rs 5,445.74 crore.

The Sensex was down 193.02 points or 0.23 percent at 83,504.27, and the Nifty was down 66.65 points or 0.22 percent at 25,486.15. About 1463 shares advanced, 1911 shares declined, and 143 shares unchanged.

QIB – 0.00 times

NII - 0.09 times

Retail – 0.20 times

Overall – 0.12 times

#1 Company cut fines prices by Rs 500/t w.e.f July 1 to Rs 4,850/t

#2 Lumps prices cut by Rs 600/t to Rs 5,700/t

#3 Price cut follows a sharp correction in long steel prices, flat steel prices are down 3%

#4 Have a negative CW open on NMDC

#5 Company’s fines prices are at 30% premium to export parity following today’s cut vs 20% in FY25

#6 Company trades at 5.8x EV/EBITDA vs other peers at 5x

Aditya Birla Capital was quoting at Rs 274.95, down Rs 5.90, or 2.10 percent. It has touched an intraday high of Rs 280.80 and an intraday low of Rs 272.25.

It was trading with volumes of 254,113 shares.

In the previous trading session, the share closed up 1.54 percent or Rs 4.25 at Rs 280.85.

The share touched a 52-week high of Rs 282.60 and a 52-week low of Rs 148.75 on 01 July, 2025 and 17 February, 2025, respectively.

Currently, the stock is trading 2.71 percent below its 52-week high and 84.84 percent above its 52-week low.

Market capitalisation stands at Rs 71,768.63 crore.

Overall demand trends were weak for the passenger vehicle and the commercial vehicle segment, whereas it was relatively better for the two-wheeler and the tractor segment.

The passenger vehicle industry domestic volumes is expected to have declined by mid-high single digit led by weak retail demand and inventory correction. While most players in the passenger vehicle segment reported weak performance, M&M’s performance remained strong.

Domestic commercial vehicle segment wholesale volumes declined by low single-digit in June 2025 amid subdued performance by key players.

In the two-wheeler segment, domestic volumes grew by mid-single digit whereas export volume growth remain very strong. Most of the major two-wheeler players posted overall double-digit wholesale volume growth in June 2025.

Domestic tractor volumes increased by mid-high single digit yoy in June 2025 and tractor demand momentum is expected to stay positive led by early advancement of above-normal monsoon and government support. Mahindra and Mahindra, TVS Motors and Eicher Motors (Royal Enfield) reported strong volume growth in June 2025.

The company runs various programs for Axis Bank and ICICI Bank. Certain programs of the abovementioned clients have been closed w.e.f. July

01, 2025.

However, the contracts with above clients are still valid.

While the company is currently evaluating the exact potential impact of aforesaid, it is likely to be material in nature. Activation of new programs/ deactivation of existing programs is part of our regular business operations. Moreover, the Company is committed to take requisite actions for mitigating above impact.

#1 Company had 7.3% market share in the E2W industry in June 2025

#2 Launched Vida VX2 EVOOTER in two variants – VX2 Plus & VX2 Go

#3 Model offers removable batteries, fast charging, smart & connected features

#4 Partnered with financiers to offer BaaS, see it as an interesting launch

#5 Customer response in key urban markets will be a key to track

The Sensex was down 126.66 points or 0.15 percent at 83,570.63, and the Nifty was down 46.65 points or 0.18 percent at 25,495.15. About 1344 shares advanced, 1963 shares declined, and 145 shares unchanged.

The company’s subsidiary, JSW Renew Energy Thirty Seven, has signed Battery Energy Storage Purchase Agreements (BESPA) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for a 250 MW / 500 MWh standalone Battery Energy Storage System (BESS).

These projects will be developed on a build, own, and operate model in Rajasthan. The BESPA has been signed for a duration of 12 years, with a tariff of Rs 2,24,000 per MW per month.

The company’s subsidiary, Nodwin Gaming, has completed the acquisition of a 92.30% stake in AFK Gaming from its founders Nishant Patel, Rakesh Ramchandran, Siddharth Nayyar, and other shareholders. Following this acquisition, AFK has become a wholly owned subsidiary of Nodwin and a step-down subsidiary of Nazara Technologies.

The company has received a show cause notice from the GST Department, Gurugram, proposing to disallow input tax credit (ITC) of Rs 81.45 crore on account of a mismatch between GSTR-2A and GSTR-3B, and Rs 47.53 lakh on supplies from units whose registrations were cancelled retrospectively or who have not filed GSTR-3B, for the period FY 2018–19 to FY 2020–21.

The company has received a show cause notice from CGST, Ludhiana, for alleged tax dues of Rs 51.86 crore along with applicable interest and a penalty equivalent to the tax dues, if any.

The notice is based on alleged discrepancies in ITC reconciliation as per GST returns for FY 2018–19 to FY 2020–21 and suppression of outward tax liability due to variance between E-way bills and GST returns.

TVS Motor Company, today launched a new variant TVS iQube with 3.1 kWh battery that offers an IDC range of 123 km, hill hold and

dual tone design. With this, the TVS iQube portfolio now offers an array of six variants, making this one of the widest and most compelling portfolio in the segment.

TVS Motor Company was quoting at Rs 2,885.15, down Rs 6.95, or 0.24 percent. It has touched an intraday high of Rs 2,916.35 and an intraday low of Rs 2,882.05. It was trading with volumes of 5,547 shares.

In the previous trading session, the share closed down 0.92 percent or Rs 26.75 at Rs 2,892.10.

The share touched a 52-week high of Rs 2,960.90 and a 52-week low of Rs 2,170.05 on 30 June, 2025 and 14 January, 2025, respectively.

Currently, the stock is trading 2.56 percent below its 52-week high and 32.95 percent above its 52-week low.

Market capitalisation stands at Rs 137,069.76 crore.

#1 Hero Vida VX2 launched at a starting price of Rs 59,500

#2 BaaS may appeal to cost-conscious users like fleet model operators

#3 Have so far not seen the general consumers in India warming up to BaaS, hence will closely monitor

#4 Stock currently trades at 13.5x FY27F EPS

MCX Gold prices surged by over 1000 points in the last session, supported by a multi-year low in the dollar index. The ongoing uncertainty surrounding trade negotiations with major global economies also enhanced gold's appeal as a safe-haven asset.

The precious metal is currently experiencing its second consecutive day of gains, driven by increasing expectations that the Federal Reserve may resume loosening its monetary policy later this year.

Lower interest rates generally benefit non-interest-bearing assets like gold. The market is currently pricing in at least two interest rate cuts in 2025. Looking ahead, the upcoming Non-Farm Payrolls data is anticipated to significantly influence gold's price trajectory this month.

Afcons Infrastructure has been awarded a Letter of Commitment (LoC) from Reliance Industries for the Civil & Structural Erection work at Jamnagar, Gujarat.

Bank Of Baroda was quoting at Rs 243.10, down Rs 4.35, or 1.76 percent. It has touched an intraday high of Rs 247.95 and an intraday low of Rs 243.05. It was trading with volumes of 64,298 shares

In the previous trading session, the share closed down 0.50 percent or Rs 1.25 at Rs 247.45.

The share touched a 52-week high of Rs 274.25 and a 52-week low of Rs 190.70 on 05 July, 2024 and 04 March, 2025, respectively.

Currently, the stock is trading 11.36 percent below its 52-week high and 27.48 percent above its 52-week low.

Market capitalisation stands at Rs 125,715.81 crore.

Quess Corp was quoting at Rs 314.95, up Rs 14.85, or 4.95 percent. It has touched an intraday high of Rs 315.60 and an intraday low of Rs 303.80. It was trading with volumes of 13,059 shares.

In the previous trading session, the share closed down 0.61 percent or Rs 1.85 at Rs 300.10.

The share touched a 52-week high of Rs 875.00 and a 52-week low of Rs 281.05 on 23 September, 2024 and 15 April, 2025, respectively.

Currently, the stock is trading 64.01 percent below its 52-week high and 12.06 percent above its 52-week low.

Market capitalisation stands at Rs 4,691.16 crore.

The company's subsidiary, Paras Anti Drone Technologies, announced that France-based CERBAIR, a leading European counter-UAV company, intends to acquire up to 30 CHIMERA 200 systems—an advanced man-portable radio frequency detection and neutralization device. These systems are designed as a primary defence against drone and swarm drone threats. The deal is worth approximately Rs 22 crore.