Stock Market Highlights, July 15: Mid-caps outshine Sensex, Nifty in range-bound session; PSBs zoom

Stock Market Highlights, July 15, 2024: Among sectors, the Nifty PSU Bank surged 3 per cent, while the Nifty Auto, Media, Pharma, and Realty indices edged over 1 per cent higher each

3:54 PM

Broader markets :: MidCap index outperforms large, small-cap peers

3:52 PM

Sectoral trends :: All but Nifty IT end higher

3:49 PM

Sensex Heatmap :: SBI ends as top gainers, NTPC, Ultratech Cement follow

3:43 PM

Closing Bell :: Nifty closes above 24,550

3:41 PM

Closing Bell :: Sensex adds 145 points on Monday

3:29 PM

Goldman Sachs targets $2 bn for first Asia-focused pvt equity fund

Goldman Sachs Asset Management, the bank's investment arm, has been marketing the new fund to sovereign wealth funds, pension funds and private investors, setting its sights on a first close by the fourth quarter, the sources said. READ MORE

3:17 PM

Oriental Carbon stock up over 50% in July; what's leading the bull charge?

In April 2024, Oriental Carbon received approval from the Honorable NCLT for the demerger scheme. This milestone unlocks significant value within both the demerged and resulting Companies, aligning with their unique risk-return profiles and cash flows. Additionally, this move enables a sharper focus on individual growth strategies and expansion opportunities, ensuring optimized performance and value creation for stakeholders, the company said READ MORE

3:04 PM

Bajaj Auto Q1 Preview: Two-wheeler maker may see revenue growth of 14-15%

Analysts anticipate robust double-digit revenue growth driven by ongoing volume recovery, particularly in rural areas. The growth, analysts believe, is expected to be accompanied by considerable margin improvement year-on-year (Y-o-Y). READ MORE

2:56 PM

Adani-Hindenburg row: SC quashes plea seeking review of Jan 3 verdict

The Supreme Court has dismissed a plea seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI. READ MORE

2:47 PM

Ganesh Housing Corp profits slump 30% in June quarter; stock tanks 8%

Shares of Ganesh Housing Corporation tanked up to 8 per cent at Rs 925 per share on the BSE in Monday’s intraday trade. The share price slipped after the company on Monday reported a 29.81 per cent year-on-year (Y-o-Y) decline in profit after tax (PAT) at Rs 113 crore in April-June quarter of the financial year of 2024-25 (Q1FY25).  READ MORE

 

2:36 PM

ALERT:: HDFC Life Q1 net rises 15%; stock up 1%

HDFC Life today posted 15 per cent growth in Q1FY25 net profit at Rs 478 crore as against Rs 415 crore in Q1FY24. Total premium grew by 10 per cent YoY to Rs 12,811 crore.

2:25 PM

SBI hikes MCLR by up to 10 bps, customer loans likely to become costlier

State Bank of India, the country’s largest state-run lender, has hiked its marginal cost of funds based lending rate (MCLR) across buckets by 5 to 10 basis points with effect from Monday.  READ MORE

2:14 PM

Tyre stocks in focus; JK, TVS Srichakra, Ceat, Apollo rally up to 13%

According to media reports, domestic tyre companies have undertaken a price hike in response to a rise in key raw material prices (primarily natural rubber). READ MORE

2:02 PM

China's Q2 growth misses expectation, prompts urgent economic policy review

China's economic growth in the second quarter fell short of expectations at 4.7%, with weak consumption and property data prompting policymakers to convene a key economic meeting. READ MORE

1:51 PM

IGL, MGL, Guj Gas likely to outperform OMCs; Charts show up to 17% upside

Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts. READ MORE

 

 

1:40 PM

ALERT:: Bank of Maha Q1 net jumps 46%; stock surges 5%

Bank of Maharashtra today reported 46.7 per cent surge in Q1 net profit at Rs 1,294 crore for the quarter ended June 2024 when compared with Rs 882 crore in the year ago period. Net Interest Income (NII) increased by 19.6 per cent YoY to Rs 2,799 crore.

1:29 PM

ONGC stock hits new high after a gap of over 10 years; up 39% from June low

In the past one year, ONGC share price has outperformed the market by surging nearly 90 per cent as against 21 per cent rally in the benchmark index. READ MORE

1:19 PM

ALERT:: Nifty hits new high at 24,633 - up 128 points

1:09 PM

This KK Modi Group stock has zoomed 121% thus far in calendar year 2024

Godfrey Phillips' portfolio comprises established cigarette brands such as Four Square, Red & White, Stellar, and Cavenders; the company also manufactures and distributes the Marlboro brand of cigarettes, which enjoys strong customer loyalty. The strong distribution network helps promote other products such as chewing products and confectionery. READ MORE

12:58 PM

Geojit Fin Svcs zooms 11% after strong Q1 results; profit surges 107% YoY

Further, the company also announced that its board of directors have approved the proposal for fundraising for an amount aggregating up to Rs 200 crore by way of issue of equity shares on rights issue basis to the eligible equity shareholders of the company. The record date of which will be disclosed later.  READ MORE

12:52 PM

ALERT :: Varun Beverages to manufacture, distribute, and sell 'Simba Munchiez' in Zimbabwe, Zambia

>> VBL, through its subsidiaries - VFZ and VBZ, has discussed with PepsiCo to enter into an Exclusive Snacks Franchising Appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute, and sell 'Simba Munchiez' in the territory of Zimbabwe & Zambia

>> An estimated investment in manufacturing facility would be around $7 million (approx. Rs 60 crore) for an annual capacity of ~5,000 MT for manufacturing of Simba Munchiez in multiple SKUs at each location of Zimbabwe and Zambia

>> The appointment will be effective on or before Oct 1, 2025 for Zimbabwe and Apr 1, 2026 for Zambia

12:40 PM

Apollo Micro Systems surges 5% on securing Make II project from Indian Army

This project is for the procurement of a Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I) under the Make II category of DAP-2020. READ MORE

12:28 PM

RVNL hits 52-week high on new order win from Central Railways; details here

“It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from Central Railway for “OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Wardha-Ballarshah Section in Nagpur division of Central Railway to meet 3000 MT loading target,” the company said in an exchange filing on Friday. READ MORE

12:19 PM

June quarter results :: Ganesh Housing slumps on weak performance

>> Net Profit falls 29% to Rs 114 cr vs Rs161 cr YoY

 

>> Revenue slips 21% to Rs 214 cr from  Rs 270 cr YoY

 

>> Ebitda drops 31% to Rs 149 cr from Rs 216 cr YoY

 

>> Margin contracts to 69.6% from 80% YoY
 

 

12:10 PM

ALERT :: Nifty tops 24,600 for the first time

12:03 PM

ALERT :: WPI inflation rises to 3.36% in June from 2.61% in May

12:01 PM

Market Check :: Top losers on BSE at this hour

11:55 AM

Market Check :: Top gainers on BSE at this hour

11:45 AM

Breakout stocks: Nykaa, DMart, Union Bank can rally up to 20%, hint charts

Nykaa

Upside Potential: 17.3%

 

Not only has the MACD given a bullish breakout for Nykaa, but the stock is also seen trading above its higher-end of the Bollinger Bands on the daily scale. Thus, the near-term bias for Nykaa stock is likely to remain bullish as long as the stock trades above Rs 180 levels; below which the key support stands at Rs 176 READ MORE

11:34 AM

Budget 2024 :: What Kotak Institutional Equities expects?

We expect the Union Budget in July to provide a combination of (1) higher capex targets, (2) higher allocation to the rural and agricultural sectors and (3) further fiscal consolidation—without shifting away from the existing prudent fiscal policy framework.

In our view, (1) the RBI’s higher-than-budgeted surplus transfer (additional 0.4% of GDP) for FY2025 and (2) strong tax collections in 2MFY25 will allow the government to provide adequate support for capex and incremental support to consumption.