Disclaimer
The stock market is subject to significant volatility and inherent risks. Investing in stocks involves potential losses and is not guaranteed to generate profits. Prices of stocks can fluctuate unpredictably, We do not give any buy/sell tips. This article is for Educational purposes only.
I) Nifty: opened at 24648 and touched a high of 24734 then a low of 24607 and closed at 24698 with a total of + 126points in Positive
II) Bank Nifty: open 50417 and touched a high of 51025 then a low of 50398 and closed at 50803 With a total of + 434 points Positive
III) Fin Nifty: open 22943 and touched a high of 23247 then a low of 22926 and closed at 23178 With a total of + 255 points in Positive
IV) Nifty Mid Select: open 12807 and touched a high of 12877 then a low of 12785 and closed at 12868 With a total of + 140 points in Positive
Godfrey Phillips : Shares of Godfrey Phillips India, a leading FMCG company and flagship of Modi Enterprises – KK Modi Group, surged over 8 per cent to reach a 52-week high of Rs 5,693.90 during Tuesday's intra-day trading on the BSE
Shares of Allcargo Logistics soared up to 11.59 per cent at Rs 68.65 per share on the BSE in Tuesday’s intraday trade. This came after the company on Monday released its monthly business figures.
KEI Industries and Polycab India stocks surged following UBS's bullish report, which initiated a 'buy' recommendation due to India's electrification drive. UBS set a price target of ₹6,150 for KEI and ₹8,550 for Polycab, predicting robust growth for the cables and wires sector.
Shares of PSU stocks Mazagon Dock Shipbuilders and Garden Reach ShipBuilders (GRSE) have fallen nearly 12% and 7.4% respectively in the last three days after the domestic brokerage firm ICICI Securities issued a bearish report on Thursday predicting a downside potential of up to 77%.
Garden Reach Shipbuilders share price is down more than 25% in the past one month and it has fallen over 35% from its 52-week high of ₹2,834.60 apiece hit on July 05. Analysts are bearish on the multibagger PSU stock and expect a major downside.
Prestige Group to invest Rs 10,000 cr in residential real estate by FY25
Today, the Indian stock market saw several significant movements across various sectors. With a blend of positive and negative trends, investors closely monitored specific stocks that exhibited notable activity. Here’s a detailed analysis of the key highlights, focusing on individual stocks and sectors, excluding indices.
The tech sector grabbed attention with Tata Consultancy Services (TCS) and Infosys leading the way. TCS announced a new strategic partnership with a European telecom giant to develop 5G solutions, which sent the stock soaring by 3.2%. This move reflects the increasing demand for advanced telecom solutions globally, and TCS’s leadership in this space.
On the other hand, Infosys witnessed a mixed reaction as it released its quarterly earnings. While the company reported a 12% year-on-year increase in revenue, its guidance for the next quarter was below expectations, causing a slight dip of 1.5% in its stock price. Investors are concerned about potential headwinds in the global IT services market, which may impact future growth.
Wipro also saw movement as it announced a significant contract win in the Middle East, pushing the stock up by 2.8%. This deal is expected to strengthen Wipro’s presence in the region and contribute to its revenue growth in the coming quarters.
The pharmaceutical sector displayed mixed signals today. Sun Pharmaceuticals was in focus as the company announced the launch of a new drug in the US market. The drug, aimed at treating a rare form of cancer, is expected to generate significant revenue, leading to a 2.5% increase in the stock price.
Conversely, Cipla faced headwinds as it received a warning letter from the US Food and Drug Administration (FDA) for one of its manufacturing facilities. The market reacted negatively to this development, causing Cipla’s stock to decline by 3%. This warning could potentially delay the company’s future drug approvals and affect its revenue from the US market.
Dr. Reddy’s Laboratories also made headlines as it received approval for a generic version of a blockbuster drug in the European market. This approval is expected to boost the company’s sales in the region, resulting in a 1.8% rise in its stock price.
The banking sector experienced volatility today, with HDFC Bank and ICICI Bank in focus. HDFC Bank reported a significant rise in non-performing assets (NPAs) in its quarterly results, leading to concerns over asset quality. This caused the stock to dip by 2.3%. Investors are wary of the bank’s ability to manage its loan portfolio in the current economic environment.
In contrast, ICICI Bank announced an increase in its retail loan disbursements, particularly in the home and auto loan segments. This positive development led to a 1.9% rise in the stock price, as investors gained confidence in the bank’s retail growth strategy.
State Bank of India (SBI) also made news as it announced a strategic partnership with a leading fintech company to enhance its digital banking services. This partnership is expected to improve customer experience and drive growth in SBI’s digital banking segment. The stock responded positively, gaining 2.7%.
The auto sector saw significant activity, with Tata Motors and Maruti Suzuki at the forefront. Tata Motors reported a robust increase in sales for its electric vehicle (EV) segment, leading to a 3.5% jump in its stock price. The company’s focus on expanding its EV portfolio is paying off, as demand for electric vehicles continues to grow in India.
However, Maruti Suzuki faced challenges as it reported a decline in sales for its entry-level models. The company cited rising input costs and supply chain disruptions as major factors affecting production. This led to a 2% drop in Maruti’s stock price. Investors are concerned about the company’s ability to maintain its market leadership amid these challenges.
Mahindra & Mahindra also garnered attention as it launched a new SUV model in the domestic market. The new model is expected to attract significant demand, given the growing popularity of SUVs in India. This positive sentiment led to a 2.4% rise in the stock price.
The consumer goods and retail sector displayed steady growth, with Hindustan Unilever (HUL) and Reliance Retail making headlines. HUL reported a 6% increase in sales, driven by strong demand for its personal care and home care products. The company’s focus on premiumization and innovation is paying off, leading to a 2.1% rise in its stock price.
Reliance Retail continued its expansion spree by acquiring a majority stake in a leading online grocery platform. This acquisition is expected to strengthen Reliance’s position in the e-commerce space, particularly in the fast-growing grocery segment. The stock reacted positively, gaining 3.2%.
The energy sector was under pressure today, with ONGC and Reliance Industries in focus. ONGC faced a decline in its stock price by 2.8% as global crude oil prices remained volatile. The company’s performance is closely tied to oil prices, and any fluctuation impacts its profitability.
Reliance Industries also witnessed a slight dip of 1.7% in its stock price as it announced a delay in the commissioning of its new petrochemical plant. The delay is expected to affect the company’s production targets for the current fiscal year, raising concerns among investors.
See our last blog on IPO
