Nifty 50 closed at 24,613 (26.3, 0.1%) , BSE Sensex closed at 80,716.55 (51.7, 0.1%) while the broader Nifty 500 closed at 23,204.25 (-5.6, 0.0%). Market breadth is neutral. Of the 2,160 stocks traded today, 1,061 were on the uptrend, and 1,080 went down.
Indian indices closed in the green, after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, rose 0.3% and closed at 14.2 points. Bajaj Auto’s net profit grew 18.1% YoY to Rs 1,941.8 crore in Q1FY25. Revenue increases by 15% YoY to Rs 12,267.4 crore, helped by improvements in the automotive and financing segments.
Nifty midcap 100 closed in red, however Nifty Smallcap 100 closed in the green taking cues from the benchmark index. BSE Realty Index and S&P BSE Midsmallcap were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecom Services emerged as the best-performing sector of the day, with a jump of over 1.9%.
Asian indices closed in the green while European indices are trading lower. US index futures traded higher, indicating a positive start to the trading session. Brent crude oil futures are trading down by 0.7%. Investment Bank, Roth MKM reduced its 2024 oil price forecast due to increased geopolitical risks and decreasing global oil inventories.
Money flow index (MFI) indicates that stocks like Lupin, Rail Vikas Nigam, Dr. Reddy's Laboratories, and ITC are in the overbought zone.
Tanla Platforms, Central Bank of India, Persistent Systems, and Infosys rise by 6%, 5.3%,5.1% and 3.8% respectively over the past week, ahead of their Q1FY25 results on Thursday.
Hatsun Agro rises sharply as its Q1FY25 net profit rises 62.9% YoY to Rs 130.5 crore, helped by lower expenses. Revenue increases 10.4% YoY to Rs 2,375.1 crore during the quarter. The company appears in a screener of stocks with new 52-week highs today.
Tamil Nadu Newsprint And Papers appoints Sandeep Saxena as Chairman and Managing Director of the company, effective July 3, 2024.
Ahead of the FY25 Budget, the Defence Ministry takes a significant step towards achieving self-reliance in the industry by unveiling a fifth positive indigenisation list (PIL) for Defence Public Sector Undertakings (DPSUs). This list, exclusively sourced from Indian industries, aims to substitute imports valued at Rs 1,048 crore. Key DPSUs participating in this initiative include Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, and BEML.
DB Corp rises as its net profit grows by 49% YoY to Rs 118 crore in Q1FY25. Revenue increases by 6.5% YoY to Rs 590 crore during the quarter, driven by strong performance in advertising segment. It shows up in a screener of stocks where mutual funds increased their shareholding in the last quarter.
Bajaj Auto is rising as its net profit grows 18.1% YoY to Rs 1,941.8 crore in Q1FY25. Revenue increases by 15% YoY to Rs 12,267.4 crore, helped by improvements in the automotive and financing segments. It appears in a screener of stocks with increasing return on capital employed (RoCE) over the last two years.
Franklin Templeton MF buys 11 lakh shares in Eris Lifesciences for Rs 109 crore at an average price of Rs 1,000 per share. Meanwhile, individual investor Rakesh Shah sells 20 lakh shares in a block deal, reducing his stake from 4.9% to 3.4%.
Bharti Hexacom rises sharply as JP Morgan initiates coverage with an ’Overweight’ rating and a target price of Rs 1,280. It notes the company operates in the underpenetrated regions of Rajasthan and Northeast, with lower teledensity, internet penetration, and postpaid usage. This is positive for the company in terms of stronger subscriber numbers and ARPU (average revenue per user) expansion. The brokerage also expects a 15% tariff hike each in FY25 and FY26 to drive revenue growth.
One97 Communications is falling as it gets an administrative warning from the Securities Exchange Board of India (SEBI) for related party transactions entered by the company or its subsidiaries with Paytm Payments Bank for FY22.
RateGain Travel Technologies partners with Hahnair to improve their airline distribution. This partnership integrates RateGain’s AirGain pricing intelligence with 100 Hahnair partners using H1-Air and X1-Air products.
Angel One's net profit grows by 32.6% YoY to Rs 292.7 crore in Q1FY25. Revenue surges by 73.8% YoY to Rs 1,410.1 crore, helped by an improvement in total client base and average daily turnover (ADTO). It appears in a screener of stocks with improving book value per share over the past two years.
Indian government bonds (IGBs) see monthly net inflows into the fully accessible route (FAR) securities surge to Rs 90,000 crore since October 2023 after JPMorgan adds it to the Emerging-market Index Global Diversified index on June 28. SBI research forecasts monthly inflows to reach approximately $2 billion over the next nine months, potentially bolstering India’s balance of payment (BoP) surplus.
Vodafone Idea surges as the Supreme Court of India agrees to consider a plea seeking correction of alleged errors in the computation of adjusted gross revenue (AGR) dues.
Unichem Laboratories receives five observations from the US FDA's inspection conducted at its Goa formulation facility.
Century Textiles & Industries rises sharply as its subsidiary, Birla Estates, acquires a 5-acre land in Sector 71, Gurugram. The land has a development potential of 10 lakh square feet with an expected revenue of Rs 1,400 crore.
According to data from the Commerce Department, India's merchandise exports growth drops to a seven-month low of 2.6% YoY in June, totaling $35.2 billion, reflecting subdued demand abroad. Commerce Secretary Sunil Barthwal, highlights that sustained global growth and a decrease in inflation would support continued trade. However, he cautions that India must remain vigilant against current geopolitical tensions and potential new conflicts.
Lupin divests its US Commercial Women's Health Specialty business to Evofem Biosciences for $84 million (approx. Rs 702.2 crore).
SpiceJet posts a net loss of Rs 298.6 crore in Q1FY25, compared to a net profit of Rs 110.5 crore in Q1FY24, due to higher aircraft lease rentals and finance costs. Revenue declines by 23.6% YoY to Rs 2,156.6 crore, impacted by the air transport services, and freighter & logistics services segments. It appears in a screener of stocks where promoter holding has reduced by more than 2% QoQ.
Zee Entertainment Enterprises' board approves raising Rs 2,000 crore from the market via various routes, including issuing equity shares and qualified institutional placement.
Morgan Stanley maintains its ‘Overweight’ rating on Varun Beverages with a target price of Rs 1,701. The brokerage believes an expansion of products and attaining additional rights from PepsiCo are key growth drivers for the company. It highlights that adding a food portfolio in Africa will increase its incremental revenues.
Hindustan Unilever rises as it sells its water purification business, Pureit, to AO Smith India Water Products at an enterprise value of $72 million (approx. Rs 601 crore).
Dolly Khanna adds Ujjivan Small Finance Bank to her portfolio in Q1FY25. She buys a 1.1% stake in the company.
Vijay Kedia buys a 1.9% stake in Global Vectra Helicorp in Q1FY25. He now holds a 4.9% stake in the company.
Jio Financial Services is falling as its net profit declines by 5.8% YoY to Rs 312.6 crore in Q1FY25 due to higher employee benefits expenses. However, revenue grows marginally by 0.9% YoY to Rs 417.8 crore during the quarter. It shows up in a screener of stocks where mutual funds decreased their shareholding in the past quarter.
Nifty 50 was trading at 24,612.75 (26.1, 0.1%), BSE Sensex was trading at 80,846.06 (181.2, 0.2%) while the broader Nifty 500 was trading at 23,266.85 (57, 0.3%).
Market breadth is surging up. Of the 1,901 stocks traded today, 1,528 showed gains, and 352 showed losses.
Riding High:
Largecap and midcap gainers today include Life Insurance Corporation of India (1,108.45, 4.5%), Coal India Ltd. (512.45, 3.0%) and Hindustan Petroleum Corporation Ltd. (358.20, 2.9%).
Downers:
Largecap and midcap losers today include Zomato Ltd. (217.49, -5.1%), IDBI Bank Ltd. (87.88, -3.9%) and Hindustan Aeronautics Ltd. (5,329.40, -3.2%).
Movers and Shakers
28 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Chennai Petroleum Corporation Ltd. (1,212.10, 11.8%), Alembic Pharmaceuticals Ltd. (1,083.45, 10.4%) and Natco Pharma Ltd. (1,281.45, 6.1%).
Top high volume losers on BSE were Krishna Institute of Medical Sciences Ltd. (2,123.05, -0.6%) and Century Plyboards (India) Ltd. (701.70, -0.1%).
Jindal Worldwide Ltd. (351.40, 2.2%) was trading at 28.6 times of weekly average. Hatsun Agro Products Ltd. (1,234.45, 4.0%) and Century Textiles & Industries Ltd. (2,218.50, 5.6%) were trading with volumes 15.4 and 9.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
37 stocks overperformed with 52 week highs,
Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (1,083.45, 10.4%), Blue Dart Express Ltd. (8,950, 5.0%) and Britannia Industries Ltd. (5,864.50, 0.9%).
10 stocks climbed above their 200 day SMA including Devyani International Ltd. (174.37, 2.5%) and Jindal Worldwide Ltd. (351.40, 2.2%). 2 stocks slipped below their 200 SMA including L&T Technology Services Ltd. (4,867.40, -2.5%) and SBI Cards and Payment Services Ltd. (730.90, -1.0%).