Market closing: The Sensex closed at 52,880.00, up 395.33 points or 0.75%, while the Nifty was at 15,834.35, up 112.15 points, or 0.71%. IT, pharma closed in red. Banks, financials and realty were top gainers
Indian indices closed over 0.70% higher on Monday. The Services PMI for the month of June contracted to 41.2 from 46.4 in May. Asian markets were mixed at close on Monday. All eyes will be on the start of Q1 earnings season in India with TCS on Thursday.
05 Jul 2021, 03:52:03 PM IST
Market closing: The Sensex closed at 52,880.00, up 395.33 points or 0.75%, while the Nifty was at 15,834.35, up 112.15 points, or 0.71%. IT, pharma closed in red. Banks, financials and realty were top gainers. On the 30-share Sensex, SBI, Tata Steel, L&T, and 20 others stocks closed in green, while Tech Mahindra, Dr Reddy's, HCL Tech, and four other stocks closed in red.
05 Jul 2021, 03:28:03 PM IST
Vedanta, Hindalco lead gains
05 Jul 2021, 03:16:40 PM IST
Gold futures gain
Gold prices on Monday rose ₹69 to ₹47,354 per 10 gm in the futures trade, as speculators created fresh positions amid firming spot demand. On the Multi Commodity Exchange, gold contracts for the August delivery traded higher by ₹69, or 0.15%, at ₹47,354 per 10 gm in a business turnover of 10,652 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded 0.52% higher at $1,792.60 per ounce in New York.
05 Jul 2021, 03:01:24 PM IST
Bajaj Healthcare's board approves listing of 13.8 mn shares
The company's board approved the issue 1,37,99,200 shares at ₹10 apiece. The stock was trading at ₹832.00 apiece, up 0.89% at 3:01 pm.
05 Jul 2021, 02:48:08 PM IST
Godrej Consumer Products Q1 guidance
Godrej Consumer Products said it is eyeing double digit 2-year coumpounded annual growth rates. The company also eyes sales growth via volume and price increases, it said in a regulatory filing. Led by demand for household insecticides, and personal wash and hygiene products, the company saw double digit sales growth in home care and personal care products, respectively, Godrej Consumer Products said in its Q1 update.
Wockhardt Ltd 's stock was trading at ₹541.55 apiece, up 1.59% at 2:40 pm. The company has incorporated a new subsidiary, Wockhardt Biologics Ltd. The company has authorised, subscribed and paid-up capital of ₹5,00,000 divided into 50,000 equity shares of ₹10 each. Wockhardt Ltd will hold approximately 65% of the total share capital while the remaining stake will be held by promoter group.
Sonalika Tractors sales jump 30%, highest ever in Q1
Sonalika Tractors, one of the leading manufacturers of tractors, sold 33,219 units in the first quarter of FY22, the highest ever for the company in the three-month period, despite adverse impact of the second wave of covid-19. (Read here)
05 Jul 2021, 02:14:23 PM IST
Bosch, Ashok Leyland drive gains
05 Jul 2021, 02:08:48 PM IST
Liquidity surplus at highest level since early April, says Care Ratings
Liquidity surplus in the banking system increased in the week ending 2 July, its highest levels since early April, largely due to month-end inflows towards salaries, wages and pensions, Care Ratings said in a report on Monday.
During the week, the outstanding liquidity surplus ranged between ₹4.8 trillion and ₹6 trillion as against the surplus of ₹4.3- ₹4.6 trillion in the preceding week. (Read here)
05 Jul 2021, 01:51:30 PM IST
Paytm to file initial prospectus next week for $2.3 billion IPO: report
One97 Communications Ltd, the parent of Indian payments firm Paytm, will file a draft prospectus as early as July 12 for a domestic initial public offering (IPO) that seeks to raise $2.3 billion, two sources close to the matter told Reuters on Monday. The company is planning an initial public offering of its equity shares which is contemplated to include a fresh issue of equity shares by the company and an offer-for-sale of equity shares by the existing shareholders of the company. (Read here)
05 Jul 2021, 01:46:41 PM IST
IndusInd Q1 update
The Hinduja group promoted lender said that retail deposits and deposits from small business customers amounted to ₹1.05 trillion as of 30 June, compared to ₹95.81 billion as of 31 March. Casa deposits in the June quarter were at 42.1% compared to 40.1% during the same period a year ago.
Housing sales dips 23 pc in Apr-Jun over previous quarter: report
Housing sales declined 23 per cent in April-June across seven cities compared with the previous quarter due to the second wave of the COVID pandemic, but witnessed an 83 per cent rise on an annual basis, according to JLL India. In its latest report, real estate consultant JLL India said that sales of residential properties stood at 19,635 units during April-June period of this calendar year.
Sales of residential properties stood at 25,583 units in the January-March quarter of 2021, and at 10,753 units during April-June period of last year. (PTI)
05 Jul 2021, 01:36:38 PM IST
Vedanta plans Sterlite Power IPO by end-2021: report
Vedanta plans to float an IPO for its unit Sterlite Power Transmission by end 2021, according to media reports.
No anti-dumping duty on certain copper items from China, 5 others
The government has decided not to impose anti-dumping on imports of certain copper products, used in the electrical industry, from China, Thailand, Korea and three other countries, according to an office memorandum.
In April, the commerce ministry's arm Directorate General of Trade Remedies (DGTR) recommended imposing the duty on "copper and copper alloy flat-rolled products" from China, Korea, Malaysia, Nepal, Sri Lanka and Thailand, after conducting a probe. (PTI)
05 Jul 2021, 12:42:27 PM IST
SAT adjourns Sebi-PNB Housing case till 12 Jul
05 Jul 2021, 12:41:50 PM IST
Bank fraud: ED arrests Shakti Bhog CMD in money laundering case
The ED on Monday said it has arrested Kewal Krishan Kumar, chairman and managing director (CMD) of Delhi-based Shakti Bhog Foods Limited, in a money laundering case linked to an alleged multi-crore bank loan fraud.
Kumar was arrested on Sunday here and later produced before a special Prevention of Money Laundering Act (PMLA) court that sent him to ED custody till July 9, the federal investigative agency said in a statement. The agency, prior to the arrest, also raided at least nine premises in Delhi and Haryana. (PTI)
05 Jul 2021, 12:38:24 PM IST
KKR acquires seven highways assets from Global Infrastructure Partners
US private equity firm KKR on Monday said it has signed definitive agreements to acquire Global Infrastructure Partners’ (GIP) entire stake in Highway Concessions One (HC1) and seven highway assets with a total length of 487 kilometers. (Read here)
05 Jul 2021, 12:25:58 PM IST
05 Jul 2021, 12:25:58 PM IST
Panacea Biotec gains
Panacea Biotec's stock was trading at ₹398.15 apiece, up 5.50% at 12:12 pm. The company has received a licence from the Drugs Controller General for manufacturing the Sputnik V vaccine in India, after the first batch of the covid-19 vaccine cleared all quality-control tests at the Gamaleya Center, Russia, the company said.
Tata Steel lower June quarter sales may be offset by better realisation
Tata Steel Ltd's domestic production and steel sales volume declined sequentially during the June quarter, as anticipated. Provisional sales volumes at 4.15 million tonnes (MT) were down 11% sequentially as demand weakened across most sectors. The company attributed this to partial lockdowns in some states and temporary shutdowns in a few steel-consuming sectors amid the second wave of the covid-19 pandemic. To offset the impact, exports were increased to 16% of the total sales versus 11% in 4QFY21, said the company. Exports stood at 0.66 MT, up 33% sequentially, and domestic sales were at 3.49 MT, down 16% sequentially. (Read here)
GR Infraprojects IPO: What GMP signals ahead of issue opening for subscription
GR Infraprojects IPO: G R Infraprojects Limited IPO (Initial Public Offer) is opening for subscription on 7th July 2021 and it will remain open for bidding till 9th July 2021. However, according to the market observers, GR Infraprojects IPO GMP (grey market premium) today is ₹350, which reflects bullish expectation of the markets in regard to the construction company's public issue. They said that higher share price in the grey market just ahead of the issue opening for subscription may also get reflected in its subscription but they advised investors to look at financials of the company too as grey market should not be the criteria for bidding an IPO. (Read here)
05 Jul 2021, 11:25:30 AM IST
Top gainers at this hour
05 Jul 2021, 11:08:09 AM IST
Ramkrishna Forgings gains
Icra Ratings on Monday reaffirmed Ramkrishna Forgings' credit rating at A- and changed the outlook to stable to positive. The company's stock was trading at ₹724.00 apiece, up 4.39% at 11:07 am.
Heranba Industries Ltd's stock gained 4.62% to trade at ₹735.15 at 10:43 am. The company said that it has received environement clearance from the Union ministry of environment, forests and climate change for the expansion of its manufacturing plant in Valsad, Gujarat.
05 Jul 2021, 10:54:44 AM IST
Composite PMI contracts
Private sector companies in India noted a second successive monthly decline in business activity during June as market conditions remained challenging due to the escalation of the pandemic. Moreover, falling from 48.1 in May to 43.1 in June, the Composite* PMI Output Index signalled the sharpest rate of reduction since July 2020. Factory production decreased for the first time in 11 months and there was a quicker contraction in services activity.
05 Jul 2021, 10:37:32 AM IST
Services PMI contracts further to 41.2 in June: IHS Markit
"Registering 41.2 in June, the seasonally adjusted India Services Business Activity Index highlighted a further contraction in output. Moreover, falling from 46.4 in May, the latest reading pointed to the fastest rate of reduction since July 2020. Monitored companies commonly indicated that the intensification of the covid-19 crisis and tight restrictions curbed demand for
services," IHS Markit said.
05 Jul 2021, 10:36:24 AM IST
Piramal Enterprises gains
Piramal Enterprises' board has approved the issue of secured, redeemable principal protected, market linked non-convertible debentures on private placement basis of up to ₹635 crore. The issuance carries an 8.25% coupon, with a tenure of 23 months and 23 days.
Rupee gains 24 paise to 74.50 against US dollar in early trade
05 Jul 2021, 10:34:18 AM IST
Info Edge gains
Info Edge's stock was trading at ₹5,513.30 apiece, up 2.73% at 10:24 am. The Securities and Exchange Board of India has given its nod for food delivery platform Zomato Ltd to raise funds via an initial public offering (IPO), said a person aware of the development. Info Edge has reportedly cut its size in Zomato OFS to ₹375 cr from ₹750 cr.
Growth in China's June services hits 14-month low: Caixin PMI
Growth in China's June services sector slowed sharply to a 14-month low, after a resurgence of COVID-19 in southern China, a private survey showed on Monday, adding to concerns the world's second-largest economy may be losing some momentum. The Caixin/Markit services Purchasing Managers' Index (PMI) fell to 50.3 in June, the lowest since April 2020 and down significantly from 55.1 in May. It held just above the 50-mark, which separates growth from contraction on a monthly basis. China's official services gauge had also shown a marked slowdown in June, though it remained well in expansion territory. The private survey typically focuses more on smaller companies. (Reuters)
05 Jul 2021, 10:13:05 AM IST
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on Nifty trajectory
'The Nifty took good support at the 15,600-15,650 level on Friday. This morning we have bounced from there and can scale to 16,100 only if we get past 15,900 on a closing basis. The markets are still range bound between 15,400 and 15,900 and until we do not get past one of the levels, we will not witness a meaningful move. However, the bias remains on the upside."
05 Jul 2021, 10:13:05 AM IST
India Pesticides shares make a strong debut
Shares of India Pesticides today made a strong listing on BSE and NSE with stock price rising to ₹363 as compared the issue price of ₹296. The IPO of India Pesticides Limited was subscribed 29 times, with retail investor segment at over 11 times. The Qualified Institutional Buyers (QIBs) category was subscribed 42.95 times and non-institutional investors 51.88 times. The offer was in a price range of ₹290-296 per share. (Read here)
05 Jul 2021, 10:09:52 AM IST
Tata Steel gains
Tata Steel's stock was trading at ₹1,141.80, up 0.51% at 10:09 am. The company on Sunday said that its crude steel production grew 55% YoY in the first quarter of the current fiscal year in India as per the provisional data. Additionally, Tata Steel India deliveries increased by 42% year on year.
Ascendas India Trust to build data centres in India
Singapore's Ascendas Property Fund Trustee Pte. Ltd., the trustee-manager of Ascendas India Trust (a-iTrust), on Monday said it will invest around ₹1,200 crore to develop and operate phase one its first data centre campus in India. (Read here)
05 Jul 2021, 09:40:45 AM IST
HDFC Bank gains on Q1 update
The lender's Q1 loan growth rose 14.4% year-on-year (y-o-y) and 1.3% quarter-on-quarter (q-o-q). The bank's deposits climbed 13.2% y-o-y and 0.8% q-o-q. Current Account Savings Accounts (CASA) deposits were up 28.25% y-o-y, and 0.6% q-o-q. The lender's CASA ratio was around 45% as of 30 June
India reported 39,796 new COVID-19 cases in the last 24 hours, health ministry data showed on Friday, with active cases at 482,071. (Reuters)
05 Jul 2021, 09:28:40 AM IST
HDFC Bank, RIL drive gains
05 Jul 2021, 09:18:35 AM IST
The Sensex opened at 52,700.60, up 215.93 points, or 0.41%, while the Nifty was at 15,793.40, up 71.20 points or 0.45% on Monday. On the 30-share Sensex, IndusInd Bank, UltraTech opened in red, while Tata Steel, Sun Pharma, M&M, and 25 other stocks opened in green.
05 Jul 2021, 09:12:48 AM IST
At market pre-opening on Monday, Sensex was at 52,682.89, up 198.22 points, or 0.38%, whuile the Nifty was at 15,793.40, up 71.20 points, or 0.45%.
05 Jul 2021, 09:11:06 AM IST
Moderna vaccine may be rolled out mid-July: report
Pharma major Moderna's covid vaccine may be available for jabs by 15 July, according to media reports.
05 Jul 2021, 08:54:26 AM IST
Info Edge cuts its size in Zomato OFS to ₹375 cr from ₹750 cr: report
05 Jul 2021, 08:51:59 AM IST
India yet to decide on indemnity for vaccine makers: report
India is working with vaccine makers and Covax on the issue of indemnity, CNBCTV18 reported, citing people familiar with the matter. Delivery of vaccines is contingent on indemnity, according to the report.
05 Jul 2021, 08:47:56 AM IST
Didi probe needed for national security: Global Times
Didi Global Inc.’s hoard of personal data poses a threat to individual privacy as well as national security, the Global Times said in a commentary that lauded China’s scrutiny of the ride-hailing giant. The firm undoubtedly has the most detailed travel information on individuals among large internet firms and appears to have the ability to conduct “big data analysis" of individual behaviors and habits, the Communist Party-backed newspaper wrote Monday. To protect personal data as well as national security, China must be even stricter in its oversight of Didi’s data security, given that it’s listed in the U.S. and its two largest shareholders are foreign companies, it added.
05 Jul 2021, 08:41:59 AM IST
NTPC invites bids for sale of fly ash from designated Middle East ports
State-run power major #NTPC Ltd (@ntpclimited) has invited expressions of interest (EoI) for sale of fly ash from the designated ports of Middle East, among other regions.
Vodafone Idea, HDFC Bank, Tata Consumer, Panacea Biotec, among other stocks may be in the news today. (Read here)
05 Jul 2021, 08:08:01 AM IST
Markets are likely to be steady on Monday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Friday, the BSE Sensex ended at 52,484.67, up 166.07 points or 0.32%. The Nifty ended at 15,722.20, up 42.20 points or 0.27%
05 Jul 2021, 07:56:29 AM IST
Tata eyes cost synergies post BigBasket deal
Fast-moving consumer goods (FMCG) firm Tata Consumer Products Ltd (TCPL) will work “very closely" with BigBasket, an e-commerce platform that was recently acquired by the Tata Group, to drive synergies in terms of costs and topline, according to the company’s managing director and chief executive officer, Sunil D’Souza. “So we have aligned partners. It is very easy to partner with a group company especially when you have a common vision of where you want to be whether it’s on the e-commerce side or the FMCG space," said D’Souza. (Read here)
05 Jul 2021, 07:42:11 AM IST
Brent oil drops with tension building before Opec+ talks resume
Brent oil dropped below $76 a barrel ahead of another round of critical OPEC+ discussions to break a stalemate over raising production, with tension rising over the weekend between two long-time allies. Futures in London slid 0.6% after rising 3.6% last week. Talks are set to resume later Monday after ending Friday without an agreement to boost output due to demands from the United Arab Emirates for better terms for itself. The impasse has led to a rare diplomatic spat between Saudi Arabia and the UAE and leaves the market guessing how much oil it will get next month. (Read here)
05 Jul 2021, 07:32:56 AM IST
Asian markets see mixed opening
Asian stocks were steady early Monday after US shares climbed further on speculation the Federal Reserve has scope to continue providing substantial stimulus support. Oil edged lower amid an Opec+ spat. Japanese shares slipped while South Korea and Australia inched up. The S&P 500 reached a record for a seventh day Friday after a US jobs report signaled the economy is gaining steam but not at a pace that would prompt the central bank to taper stimulus quickly. US equity contracts were stable. US stock and bond markets are closed for the 4 July Independence Day holiday.
S&P 500 futures dipped 0.1% as of 9:23 a.m. in Tokyo. The S&P 500 rose 0.8% Friday
Nasdaq 100 futures were little changed. The Nasdaq 100 rose 1.2%
Japan’s Topix index fell 0.4%
Australia’s S&P/ASX 200 Index added 0.3%
South Korea’s Kospi index rose 0.4%
Hang Seng futures rose 0.6% earlier
SGX Nifty was up 0.14%
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