The Indian equity benchmarks closed had a mixed day on July 5. The Sensex was down 0.05 percent at 65,446.04, while the Nifty was up 0.05 percent at 19,398.50. About 1,922 shares advanced, 1,483 shares declined, and 124 shares remained unchanged.
2/11
Hero Motocorp Ltd. | CMP Rs 3158.20 | Shares of Hero Motocorp gained over 4 percent on July 5 amidst expectations of the company increasing its two-wheeler market share in the premium segment with the introduction of the Harley-Davidson X440, a mid-size bike developed in collaboration with the American major. Analysts also believe that Hero MotoCorp's extensive dealer network and the potential for increased production volume will contribute to the success of the bike. Brokerage house Jefferies has retained the 'buy' rating on the stock and increased its target price to Rs 3,500.
3/11
Bharat Heavy Electricals Ltd. | CMP Rs 92.95 | Bharat Heavy Electricals (BHEL) share price gained 7 percent on July 5 after the company extended its gas turbine technology agreement with General Electric Technology GmbH Switzerland. Under this extension agreement, BHEL has gained access and enhanced rights for existing, uprated and new gas turbine models.
4/11
Genus Power Infrastructures Ltd. | CMP Rs 169.05 | Shares of Genus Power Infrastructures Ltd surged 20 percent on July 5, a day after GIC said it would acquire a 74 percent stake in the Indian company's smart metering solutions arm for $2 billion (over Rs 16,000 crore). After the deal with Singapore's sovereign wealth fund, Gem View Investment, an affiliate of GIC, will hold 74 percent and the rest 26 percent shall remain with Genus. The stock also hit a 52-week high of Rs 169 on July 5.
Strides Pharma Science Ltd. | CMP Rs 451.55 | Shares of Strides Pharma fell nearly 7 percent on July 5 after its subsidiary, Stellis Biopharma, announced plans to sell off its manufacturing unit in Bengaluru to Synege International. Synege International will buy the manufacturing unit for Rs 702 crore in an all-cash deal. The transaction is expected to close within 90 days.
6/11
Ahluwalia Contracts India Ltd. | CMP Rs 673.05 | Shares of Ahluwalia Contracts climbed 10 percent on July 5 after ICICI Securities initiated coverage on the stock with a ‘buy’ tag. The broker has set a target price of Rs 800 per share based on 16 times its FY25 Price to Earnings owing to rising tailwinds in the segments such as real estate, hotels, hospitals, station redevelopment as well as corporate or industrial capex. The stock reached a record high of Rs 648.05 on July 5.
7/11
Som Distilleries and Breweries Ltd. | CMP Rs 306.85 | Som Distilleries & Breweries saw a 5 percent increase in stock price on July 5, following the company's announcement of considering a preferential issue for fundraising. Som Distilleries and Breweries has scheduled a board meeting on July 8 to discuss the possibility of fundraising through a preferential basis by issuing convertible equity warrants to promoters and/or potential investors, as per the regulatory filing.
8/11
RBL Bank Ltd. | CMP Rs 190.65 | Shares of RBL Bank gained over 4 percent on July 5 after the lender reported decent growth in deposits and advances on a yearly basis. However, gains in the stock were limited as sequential growth remained subdued. Recently, ICICI Securities met RBL Bank’s managing director and chief executive officer Subramania Kumar, and executive director Rajeev Ahuja, to discuss the bank’s newly unveiled FY23-FY26 strategy.
Samvardhana Motherson International Ltd. | CMP Rs 90.30 | Shares of Samvardhana Motherson International Limited (SAMIL) gained 6 percent on July 5 after the company’s subsidiary announced plans to pick up 81 percent stake in Yachiyo Industry. After the acquisition, it will be an 81:19 percent joint venture between SMRP V and Yachiyo Industry. Brokerage firm CLSA has a 'buy' call on SAMIL with a target price of Rs 102.
10/11
Venus Remedies Ltd. | CMP Rs 260.45 | The Venus Remedies share price gained nearly 4 percent on July 5 after the company received marketing approval from Oman, Malaysia, Bosnia and Trinidad and Tobago for key chemotherapy drugs. With this, the company has secured 503 marketing approvals for its oncology products across 75 countries.
11/11
Dixon Technologies Ltd. | CMP Rs 4206.10 | Shares of Dixon Tech fell over 3 percent on July 5 after brokerage firm Jefferies downgraded Dixon Tech to 'hold' from 'buy'. Jefferies' target price on the stock is Rs 4,550, which indicates a 5 percent upside from the current market price. The present weakness in domestic demand warrants caution as most of Dixon's end-user categories are discretionary, like mobiles, LED TVs and appliances, reported Jefferies.
