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Trendlyne Marketwatch
03 Jul 2025, 04:04PM
Market closes lower, PN Gadgil Jewellers to raise Rs 1,000 crore via QIP or other modes
By Trendlyne Analysis

 

 

Nifty 50 closed at 25,405.30 (-48.1, -0.2%), BSE Sensex closed at 83,239.47 (-170.2, -0.2%) while the broader Nifty 500 closed at 23,521.85 (-25.4, -0.1%). Market breadth is balanced. Of the 2,477 stocks traded today, 1,188 were in the positive territory and 1,239 were negative.

Indian indices closed lower after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 0.5% and closed at 12.4 points. Tata Power closed in the red as the arbitral tribunal, under the Singapore International Arbitration Centre (SIAC) rules, ordered the company to pay $490.3 million (~ Rs 4,192.9 crore) to Kleros Capital Partners.

Nifty Smallcap 100 closed higher, while Nifty Midcap 100 closed flat. Nifty Capital Markets and Nifty MidSmall Healthcare were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Diversified Consumer Services emerged as the best-performing sector of the day, with a rise of 1.4%.

European indices are trading mixed. Major Asian indices closed with varied trends. US index futures are also trading mixed, indicating a cautious start to the session as investors look ahead to the job data to be released later today. The US and Vietnam have announced a trade deal agreement.

  • Money flow index (MFI) indicates that stocks like Laurus Labs, Gland Pharma, Max Financial Services, and Multi Commodity Exchange are in the overbought zone.

  • PN Gadgil Jewellers' board of directors approves raising Rs 1,000 crore by issuing equity shares or other securities through a qualified institutional placement (QIP), preferential issue, private issue, or other modes.

  • Reliance Power and Reliance Infrastructure fall sharply as State Bank of India (SBI) flags Reliance Communications' loan account as fraud. This comes after a 2020 financial audit conducted by BDO, which claims an alleged diversion of Rs 12,692 crore in loans.

  • IndiGrid Infrastructure Trust partners with International Finance Corporation (IFC) to develop a 180 MW/360 MWh standalone battery energy storage system (BESS) project in Gujarat. IFC commits Rs 4.6 billion (around $55 million) in long-term funding.

  • Shapoorji Pallonji and Co, the construction arm of the Shapoorji Pallonji Group, is reportedly in talks with bankers to raise around $300 million (approximately Rs 2,500 crore) to refinance existing debt. The company is likely to raise the funds in Indian rupees, backed by shares of Afcons Infrastructure and select real estate assets.

  • Punjab National Bank's Q1FY26 domestic business reaches Rs 26.2 lakh crore, up 11.1% YoY. Domestic deposits grow 12.2% to Rs 15.4 lakh crore, while global deposits reach Rs 15.9 lakh crore, up 12.8% YoY.

  • Motilal Oswal retains its 'Buy' call on Ambuja Cements, with an upgraded target price of Rs 700 per share. This indicates a potential upside of 19.1%. The brokerage believes that the cement manufacturer's profitability will improve, driven by ongoing cost savings and a higher share of premium products. It expects the firm's net profit to grow at a CAGR of 36% over FY26-27.

  • MOIL is rising as its Q1FY26 production increases 6.8% YoY to 5 lakh tonnes. Production for June also grows 2% YoY to 1.7 lakh tonnes.

  • PNB Housing Finance plans to raise up to Rs 10,000 crore through non-convertible debentures (NCDs). The company's board has recommended the proposal, which will be put to shareholders for approval at the upcoming annual general meeting.

  • Tata Power is falling as the arbitral tribunal, under the Singapore International Arbitration Centre (SIAC) rules, orders the company to pay $490.3 million (~ Rs 4,192.9 crore) to Kleros Capital Partners.

  • Bajel Projects surges to its 5% upper limit as it secures an order worth Rs 300-400 crore from Power Grid Corp of India. The project involves building a 400kV transmission line between Siwani and Jind as part of the renewable energy infrastructure in the Bikaner region.

  • Arkade Developers to acquire Filmistan for Rs 183 crore, making it a wholly-owned subsidiary. Filmistan is engaged in the manufacturing, production, distribution, and exhibition of cinematographic films and pictures in India. The intent of the acquisition is to facilitate smoother expansion of operations in the real estate sector.

  • E-commerce platform Meesho files a Draft Red Herring Prospectus (DRHP) with SEBI through the confidential pre-filing route, aiming to raise Rs 4,250 crore (around $500 million) via an Initial Public Offering (IPO). Now fully domiciled in India following the merger of its Delaware-based entity with its Indian arm, Meesho plans to list on Indian stock exchanges by October 2025.

  • Hindustan Zinc's mined metal production grows 1% YoY to 265 kilo tonnes in Q1FY26. However, refined zinc and lead production declines 4% and 6% YoY during the quarter due to plant maintenance. Silver production falls 11% YoY on the back of lower silver input from the SK mine.

  • Indian Bank's Q1FY26 total business reaches Rs 13.4 lakh crore, up 10.2% YoY. Total deposits grow 9.3% to Rs 7.4 lakh crore, and gross advances rise 11.3% YoY during the quarter.

  • Coromandel International is rising as it receives approval from the Competition Commission of India (CCI) to acquire a 53.1% stake (or 10.7 crore shares) in NACL Industries.

  • Elara Securities believes global factors are creating room for an 8–10% upside in the Nifty 50. It notes that a softer US dollar and declining crude prices are likely to support Indian equities in the near term. Given the current market conditions, the brokerage remains bullish on large- and mid-cap stocks, while avoiding the small-cap segment.

  • Godrej Industries plans to invest Rs 750 crore in its chemicals business to expand fatty alcohol and erucic acid capacities by 35,000 tonnes per annum and 20,000 tonnes per annum, respectively.

  • Indogulf Cropsciences’ shares make a flat debut on the bourses at Rs 111. The Rs 200 crore IPO received bids for 26 times the total shares on offer.

  • Indian Overseas Bank’s shareholders approve raising up to Rs 4,000 crore in equity capital through various instruments, including Qualified Institutional Placements (QIPs) and rights issues.

  • India’s Services PMI rises to a 10-month high of 60.4 in June, up from 58.8 in May, remaining well above the 50-mark. Services firms benefited from strong domestic demand and a notable increase in new export orders, with overseas demand improving especially from Asia, the Middle East, and the US.

  • FSN E-Commerce (Nykaa) is falling sharply as its promoter, Harindarpal Singh Banga and family, reportedly plan to sell a 2.1% stake worth $140.3 million (~ Rs 1,201.9 crore) through a block deal.

  • Sheela Foam is falling as its Chief Executive Officer (CEO), Nilesh Sevabrata Mazumdar, tenders his resignation, effective July 1.

  • Alembic Pharmaceuticals' wholly-owned subsidiary acquires US-based Utility Therapeutics for approximately $12 million (Rs 102.8 crore). The deal gives Alembic access to one FDA-approved product and another under development for the US market.

  • Avenue Supermarts' (D-Mart) standalone revenue grows 16.2% YoY to Rs 15,932 crore in Q1FY26. The company adds 9 new stores during the quarter, bringing its total store count to 424.

  • Nifty 50 was trading at 25,521.05 (67.7, 0.3%), BSE Sensex was trading at 83,595.57 (185.9, 0.2%) while the broader Nifty 500 was trading at 23,592.20 (45.0, 0.2%).

  • Market breadth is horizontal. Of the 2,014 stocks traded today, 973 were in the positive territory and 978 were negative.

Riding High:

Largecap and midcap gainers today include Bosch Ltd. (34,400, 6.0%), Oil India Ltd. (452.95, 3.9%) and Ipca Laboratories Ltd. (1,415.70, 3.0%).

Downers:

Largecap and midcap losers today include FSN E-Commerce Ventures Ltd. (202.31, -4.4%), InterGlobe Aviation Ltd. (5,766, -3.2%) and Punjab National Bank (110.23, -3.2%).

Volume Shockers

16 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included DCM Shriram Ltd. (1,425.50, 15.2%), Aster DM Healthcare Ltd. (650.05, 9.6%) and Motilal Oswal Financial Services Ltd. (929.10, 8.6%).

Top high volume losers on BSE were FSN E-Commerce Ventures Ltd. (202.31, -4.4%), Neuland Laboratories Ltd. (11,668, -2.6%) and Ratnamani Metals & Tubes Ltd. (2,864.60, -1.1%).

Honeywell Automation India Ltd. (41,200, 6.1%) was trading at 6.5 times of weekly average. Ventive Hospitality Ltd. (686.60, 0.0%) and Natco Pharma Ltd. (973.60, 5.6%) were trading with volumes 5.1 and 4.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks overperformed with 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (7,565, 1.7%), DCM Shriram Ltd. (1,425.50, 15.2%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,728.90, -0.7%).

Stock making new 52 weeks lows included - Ola Electric Mobility Ltd. (40.61, -1.1%).

17 stocks climbed above their 200 day SMA including Honeywell Automation India Ltd. (41,200, 6.1%) and Latent View Analytics Ltd. (446.70, 5.1%). 5 stocks slipped below their 200 SMA including ICICI Prudential Life Insurance Company Ltd. (639.90, -2.9%) and Sammaan Capital Ltd. (135.73, -0.2%).

 
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