Sensex and Nifty50 rose for a second straight session on Friday. Buying interest was witnessed in banking and metal shares. Selling pressure was seen in select FMCG shares. Tata Steel was the top gainer among blue-chip stocks, up 4%. Axis Bank, SBI, ICICI Bank, JSW Steel, Hindalco and Maruti Suzuki were among other top performers. RIL was the top laggard in the Nifty50 universe, down 2%. Titan, Asian Paints, NTPC, HUL, UPL, Nestle and Nestle were among other losers.
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In the near-term, a large part of the positives in the sugar sector seem to be already reflecting in stock prices, says independent market advisor Sandip Sabharwal.
Financial services, metal, IT stocks in demand
Buying interest seen in financial services, metal and IT spaces supported the Nifty50 index. On the other hand, selling pressure witnessed in oil & gas and consumer goods shares capped the gains.
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ICICI Bank, Axis Bank, HDFC Bank, SBI top boosts for Sensex
On the other hand, selling pressure seen in stocks such as Reliance Industries, HUL and Asian Paints limited the upside for the 30-scrip index.
S&P BSE REALTY up 0.5%. Here are the top index gainers and losers
Price as on 25 Jun, 2021 02:43 PM, Click on company names for their live prices.
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Here are the top gainers in the tourism and hospitality sector
Price as on 25 Jun, 2021 02:16 PM, Click on company names for their live prices.
Maruti Suzuki shares up 11% in 5 days: What is driving the rally? A look at how auto stocks are faring at this hour
Price as on 25 Jun, 2021 02:04 PM, Click on company names for their live prices.
Could India’s IT firms surprise D-St in Q1?
Accenture Plc’s raising of revenue growth forecast to 10-11 per cent for fiscal 2021 bodes well for domestic IT companies, which analysts said can surprise Street in the forthcoming earnings season. They largely are positive on Infosys and HCL Technologies in the tier-I IT space. Accenture, whose performance and revenue guidance is typically seen as a barometer for the performance of Indian technology companies, reported a 21 per cent growth in revenues at $13.26 billion for the quarter ended May 31, beating its own guidance of $12.55 billion-$12.95 billion in revenues.
Grey market signals strong listing gains for Dodla Dairy and KIMS
After a strong show by Shyam Metalics and Sona Comstar, the grey market is expecting Dodla Dairy and Krishna Institute of Medical Science (KIMS) Hospitals to perform on similar lines. While Dodla Dairy is trading at a premium of Rs 65-70, KIMS is trading at a premium of Rs 95-100 in the grey market. The premia can be translated as 15-20 per cent over the issue price, signalling a decent listing gain for both the issues.
India Pesticides IPO subscribed 5.5 times on Day 3
India Pesticides’ initial public offering (IPO) is witnessing a robust demand from the investors as the issue was subscribed over 5.5 times on Friday. The issue was fully subscribed on day 1, Wednesday.
Why RIL AGM failed to give analyst price targets a lift
Marketmen tracking the stock said the AGM announcements were encouraging but fell short of heightened Street expectations. They said there was no clarity on valuations for either the Saudi Aramco deal nor the AGM speech by the Chairman and MD Mukesh Ambani offered any timeline for the listing of Jio and retail businesses. The planned new Rs 75,000 crore green energy investments, though welcomed, may hurt the already low return on equity (ROE) in the short term, they said.
Volatility index India VX eases 8.21%
Pharma shares in pink of health: Here’s how they fare
Price as on 25 Jun, 2021 12:44 PM, Click on company names for their live prices.
Union Bank is up 2.22%. The state-owned lender has raised Rs 850 crore by issuing Basel-III-compliant bonds on a private placement basis. The bank has allotted Basel-III-compliant tier-II bonds, which are in the nature of debentures eligible for inclusion in tier-II capital, aggregating to Rs 850 crore.
Price as on 25 Jun, 2021 12:43 PM, Click on company names for their live prices.
Bodal Chemicals is trading nearly 4% down despite reporting consolidated profit at Rs 21.73 crore in Q4FY21 against Rs 25.84 crore in Q4FY20 with revenue rising to Rs 432.73 crore from Rs 368.47 crore YoY.
Price as on 25 Jun, 2021 12:40 PM, Click on company names for their live prices.
Sharda Motor Industries trading 3.5% up. The auto equipment firm and Kinetic Green Energy & Power Solutions Limited, a Kinetic Group company, have entered a joint venture (JV) agreement, to develop Battery Packs with Battery Management Systems (BMS) for electric Vehicles & stationery applications.
Price as on 25 Jun, 2021 12:37 PM, Click on company names for their live prices.
Future Retail trading 2.5% down. On Thursday, the company sought extension of time till July 31, 2021 to file its results for the quarter and year ended March 31, 2021. In order to safeguard its employees, it has not yet completely started its key offices in Mumbai, Future Retail Ltd said in a filing to the stock exchanges.
Price as on 25 Jun, 2021 12:35 PM, Click on company names for their live prices.
Pandemic leaves India Inc’s boardrooms shaken and stirred
The past year has taken a toll on corporate India at all levels, up to and including the boardroom. According to data compiled by Prime Database, the first six months of calendar year 2021 saw the demise of 61 directors (who held a total of 69 directorships) on the boards of NSE-listed companies. That’s already higher than the number for 2019 (57). The 2020 calendar year saw the deaths of 82 directors, holding 91 board position.
Mukesh Ambani’s new plans of investing in green energy business is more complementary rather than competing with Adani Green at this point of time, says Probal Sen, VP, Centrum Broking.
Shares of Deepak Spinners hit upper circuit on Friday as ace investor Dolly Khanna bought a stake in the textile company on Thursday. Khanna bought about 1.06 per cent stake or 76,555 shares of Deepak Spinners at Rs. 167.2 apiece through a bulk deal on BSE. The deal was worth Rs 1.28 crore at the price.
Price as on 25 Jun, 2021 11:45 AM, Click on company names for their live prices.
Shares of TAKE Solutions tanked as much as 7 per cent in early trade on Friday after the company reported a net loss in the quarter ended on March 31, 2021 on the back of a slump in revenue.
Price as on 25 Jun, 2021 11:35 AM, Click on company names for their live prices.
Macro indicators encouraging in June
Business activities across sectors such as auto, consumer goods and electronics, smartphones, ecommerce, hospitality and real estate picked up in June over May, amid falling infections and gradual relaxation of Covid-induced restrictions in various parts of the country. Industry executives expect further recovery going forward as vaccinations improve consumer sentiment, but some say overall growth in FY22 will be lower than initially estimated due to a washout of business activity for over a month. Further, a possible third Covid wave later this year could derail recovery.
Shilpa Medicare is up 3.20% on receiving an in-principle approval from Defence Research & Development Organisation (DRDO) to manufacture and sale of 2-Deoxy-D-Glucose (2DG). 2DG has been given emergency approval by the Drug Controller General of India (DCGI) for Covid-19 patients in the country.
Price as on 25 Jun, 2021 11:31 AM, Click on company names for their live prices.
Sanitiser companies on taxman’s hit list
Companies making hand sanitisers and the raw materials used in them have come under scrutiny for allegedly categorising these items incorrectly and escaping tax. Pharmaceutical companies say sanitisers are medicaments, while the taxman considers them disinfectants. The indirect tax department’s investigation arm, Director General of GST Intelligence (DGGI), has initiated an investigation in this regard and even sent notices to some companies. The question is whether sanitisers should be treated as medicaments, liable to GST of 12%, or as disinfectants or consumer products, on which 18% GST is levied.
How are Nifty energy stocks faring? Tata Power, Adani Green, NHPC up; Adani Power, Powe Grid down
Price as on 25 Jun, 2021 11:18 AM, Click on company names for their live prices.
Fear gauge India VX eases nearly 6%
FMCG cos go for capex as demand rises
India’s leading fast-moving consumer goods companies including Hindustan Lever, Dabur, PepsiCo, Marico, Parle, Britannia, ITC, Wipro Consumer and Emami said they are making fresh investments, adding capacity or accelerating manufacturing. That comes on the back of demand picking up, Covid-19 cases trending lower, state-level curbs on operating hours being eased and vaccination gathering pace.
Rallis India share trending green as the subsidiary of Tata Chemicals is planning to enhance manufacturing capacities as well as build a new integrated research development center, and is in the process of launching new products.
Price as on 25 Jun, 2021 11:00 AM, Click on company names for their live prices.
Glenmark Pharmaceuticals trading 2.30% up after receiving tentative approval by the United States Food & Drug Administration (USFDA) for Nintedanib Capsules, 100 mg and 150 mg, the generic version of Ofev Capsules, 100 mg and 150 mg, of Boehringer Ingelheim Pharmaceuticals, Inc.
Price as on 25 Jun, 2021 10:54 AM, Click on company names for their live prices.
Bank Nifty mostly in green. Interestingly, analysts say that the June F&O analysis trend indicates that Bank Nifty might continue to underperform the Nifty.
Price as on 25 Jun, 2021 10:48 AM, Click on company names for their live prices.
Zydus Cadila has received tentative approval from the USFDA to market Pemetrexed for Injection in the strengths of 100mg/vial, 500 mg/vial, and 1000 mg/vial, single-dose vials (US RLD: Alimta). Pemetrexed is used to treat certain types of cancers such as lung cancer, mesothelioma. It is a chemotherapy drug that works by slowing or stopping the growth of cancer cells.
Price as on 25 Jun, 2021 10:45 AM, Click on company names for their live prices.
Shares of Greaves Cotton have continued to move northward, rising as much as 9 per cent on Thursday to scale a lifetime high of Rs 184.25. However, the stock settled at Rs 173.55 on Thursday, up 4 per cent. Shares of Greave Cotton have outperformed markets, rising as much as 105 per cent in the year 2021 so far. In the last one month the counter is up by 35 per cent.
Ashok Leyland shares soared as much as 9 per cent in early trade on Friday as the commercial vehicle maker posted a net profit of Rs 241.17 crore in the March 2021 quarter. The company had incurred a net loss of Rs 57.32 crore in the same quarter previous year.
Price as on 25 Jun, 2021 10:20 AM, Click on company names for their live prices.
Buy or Sell: Stock ideas by experts for June 25, 2021
LIC Housing Finance jumped 4 per cent in early trade before settling at 1.5% up after the LIC subsidiary said the parent will infuse equity capital worth about Rs 2,334.70 crore by picking 3.77 per cent by picking up an additional stake in the company. LIC Housing Finance will issue shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis.
Price as on 25 Jun, 2021 09:58 AM, Click on company names for their live prices.
Majesco climbs 5 per cent to Rs 95.25 after promoter Aurum Platz acquires 14.31 per cent stake in the company via off market transaction, taking total shareholding to 34.57 per cent from 20.26 per cent earlier.
Price as on 25 Jun, 2021 09:56 AM, Click on company names for their live prices.
Deepak Spinners soars 17% after seasoned investor Dolly Khanna bought 76,555 shares of the company at Rs 167.2 apiece through a bulk deal on BSE.
Price as on 25 Jun, 2021 09:54 AM, Click on company names for their live prices.
Indian Bank trading with a positive bias. The PSU lender has raised Rs 1,650 crore through the QIP launched earlier this week. In March this year, the committee of directors of capital raising of the bank (committee) had accorded approval for raising equity capital aggregating up to Rs 4,000 crore through QIP in one or more tranches.
Price as on 25 Jun, 2021 09:42 AM, Click on company names for their live prices.
SBI up 1.33% in early trade. India’s largest PSU lender has launched the Aarogyam healthcare business loan. Under this new product, entire healthcare ecosystem such as hospitals, nursing homes, diagnostic centres, pathology labs, manufacturers, suppliers, importers, logistic firms engaged in critical healthcare supply can avail of loans up to Rs 100 crore repayable in 10 years.
Price as on 25 Jun, 2021 09:40 AM, Click on company names for their live prices.
Reliance Retail set to grow 3x in 3-5 years: Ambani
Reliance Retail is set to grow three times in the next three to five years, said Reliance Industries chairman and MD Mukesh Ambani. The company, which operates several businesses across categories such as grocery, consumer electronics and pharma, continues to be among the fastest growing retailers in the world and aims to be among the top 10 globally, Ambani said at RIL’s AGM on Thursday.
Stocks in focus: MIDHANI, LIC Housing, PTC India and more
20 out of 30 stocks on Sensex open in the green
Fear gauge India VX remains flat
Opening Bell: Sensex rises 100 points, Nifty50 above 15,800; SAIL, Ashok Leyland jump 4% each
Pre-open session: Sensex climbs 350 points, Nifty nears 15,900
SGX Nifty signals a flat start
Nifty futures on Singapore Exchange traded 7 points, or 0.04 per cent, higher at 15,844.50, signaling that Dalal Street was headed for a flat start on Friday.
Tech View: Nifty’s Inside Bar candle suggests consolidation
Nifty50 on Thursday formed an Inside Bar on the daily chart, as it traded inside the trading range of the last session, reflecting the ongoing consolidation in the broader 15,450-15,900 range. Analysts said the upside hurdle stays at the 15,900 level. They see support for Nifty near the 15,670 level.
China shares flat in early trade
China’s benchmark Shanghai Composite Index was flat, edging up 0.72 points to 3,567.38, while the Shenzhen Composite Index on China’s second exchange added 0.08 percent, or 1.96 points, to 2,417.32.
Hong Kong shares build on gains at open
Hong Kong stocks opened on the front foot Friday morning, extending gains into a third day following a surge on Wall Street as investors cheered news that the White House and lawmakers had struck a huge infrastructure deal. The Hang Seng Index rose 0.42 percent, or 120.21 points, to 29,002.67.
Japan shares open higher
Tokyo shares opened higher on Friday as investors cheered news that Washington had reached an agreement over massive infrastructure spending plans. The benchmark Nikkei 225 index rose 0.97 percent or 279.36 points to 29,154.59 while the broader Topix index added 0.90 percent, or 17.52 points, to 1,964.62
Dollar firm as traders brace for US inflation data
The US dollar held near multi-month highs on Friday as investors warily awaited U.S. inflation data, while the pound nursed modest losses after Bank of England (BoE) policymakers leaned away from flagging rate rises. The US dollar index was steady at 91.833, off a week-ago high of 92.408 but clear of troughs below 90 that it had plumbed in May.
White House, US lawmakers strike deal on infrastructure
US President Joe Biden on Thursday embraced a bipartisan Senate deal to renew the nation’s roads, bridges and highways and help stimulate the economy — a major breakthrough on one of his key domestic policy goals. The bipartisan framework is valued at $1.2 trillion over eight years, $579 billion of which is new spending. Its $579 billion in new spending includes major investments in the nation’s power grid, broadband internet services and passenger and freight rail.
US stocks settled higher
US stocks closed higher on Wall Street Thursday as traders were encouraged to see a bipartisan deal on infrastructure spending as well as some positive reports on the economy. The S&P 500 marked another record high, beating the peak it set early last week. On Thursday the S&P500 index rose 24.65 points, or 0.6%, to 4,266.49. The Dow Jones Industrial Average rose 322.58 points, or 1%, to 34,196.82. The Nasdaq added 97.98, or 0.7%, to 14,369.71.
Rupee firms up by 9 paise at 74.18 against dollar
The Indian rupee rose for the second straight day and closed 9 paise higher at 74.18 against the US dollar on Thursday, tracking an upbeat domestic equity market. Besides, a weaker American unit also helped the rupee in consolidation of gains. At the interbank forex market, the rupee opened at 74.20, and hit an intra-day high of 74.16 and a low of 74.25. It finally finished at 74.18, higher by 9 paise over its last close.
Sensex, Nifty on Thursday
Equity benchmark indices drifted higher on Thursday due to heavy buying in IT stocks along with support from banking and metal stocks. At the closing bell, the BSE S&P Sensex was up by 393 points or 0.75 per cent at 52,699 while the Nifty 50 ticked higher by 104 points or 0.66 per cent to 15,790. Sectoral indices at the National Stock Exchange were mixed with Nifty IT gaining by 2.8 per cent and private bank by 0.8 per cent.