Stock Market Live Updates: Sensex, Nifty End Flat Amid Volatility; Midcap & Smallcap Stocks Outshine

Indian equity indices ended flat in a highly volatile session on July 11. At close, the Sensex was down 27.43 points or 0.03% at 79,897.34, and the Nifty was down 8.50 points or 0.03% at 24,316.00. About 1,966 shares advanced, 1,427 shares declined, and 89 shares remained unchanged.

Top Nifty gainers included BPCL, Coal India, ONGC, ITC, and Tata Motors, while Tata Consumer Products, Bajaj Finance, Divis Labs, M&M, and NTPC were the top losers.

Among sectors, the realty index was down 1.5% and the pharma index fell by 0.6%. However, the media and oil & gas indices both gained 1%. The BSE midcap index rose by 0.3%, while the smallcap index added 0.6%.

The Indian Rupee closed marginally lower at 83.56 per US Dollar on Thursday compared to Friday's close of 83.53.

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Jul 11, 2024, 3:46 pm IST

Sensex, Nifty End Flat Amid Volatility

Indian equity indices ended flat in a highly volatile session on July 11. At close, the Sensex was down 27.43 points or 0.03% at 79,897.34, and the Nifty was down 8.50 points or 0.03% at 24,316.00. About 1,966 shares advanced, 1,427 shares declined, and 89 shares remained unchanged.

Jul 11, 2024, 3:44 pm IST

Post-market Quote By Aditya Gaggar Director Of Progressive Shares

"Opening gains did not last long as the Index quickly erased all its gains to retest its previous day's lower levels. In the mid-session, select heavyweights helped the Index to recover to end the weekly expiry trade at 24,315.95 with a marginal loss of 8.50 points. As far as sectors are concerned, Media was the top gainer followed by FMCG while Realty was the major loser by ending the trade with a loss of 1.49% Mid and Smallcaps managed to hold their opening gains and outperformed the Benchmark Index. Our view on the Index remains the same, i.e. as long as the Index holds a level of 24,200 uptrend will remain intact and on the higher side, 24,460 will be a critical hurdle."

Jul 11, 2024, 3:26 pm IST

New Refinery News Propels BPCL Share Prices Upward by 2%

Bharat Petroleum Corporation Limited (BPCL) is considering the construction of a new refinery, with potential sites in Uttar Pradesh or Andhra Pradesh. This move aims to enhance the company's refining capacity and meet the growing demand for petroleum products in India.

Jul 11, 2024, 3:21 pm IST

Som Distilleries Brews Up Market Leadership in Odisha

In the first quarter of FY25, primary sales surged by 38%. This significant growth reflects a robust market performance. Additionally, market share saw an increase from 14.4% in Q1 FY24 to approximately 16.1% in Q1 FY25. This rise indicates a stronger foothold in the industry. The notable 38% rise in primary sales during Q1 FY25 highlights the company's successful strategies and market demand. This growth is a positive indicator of the company's expanding reach and customer base.

Jul 11, 2024, 3:00 pm IST

Oil India's Unstoppable Rise: How the Stock Market Leader Hit a Lifetime High

Trading activity in the counter has surged significantly, with 67 lakh shares being exchanged so far. This volume is notably higher than the one-month daily average of 47 lakh shares. The stock has shown impressive performance, delivering nearly 120 percent gains this year to date.

Jul 11, 2024, 2:58 pm IST

Goldiam International in Focus

Goldiam International has secured fresh export orders amounting to Rs 60 crores.

Jul 11, 2024, 1:59 pm IST

360 ONE Appoints Raghav Iyengar As CEO Designate Of Asset Business

360 ONE has announced the appointment of Raghav Iyengar as CEO designate of its asset management business (360 ONE Asset), subject to necessary approvals. Raghav comes with a rich experience of over three decades in the financial services sector. Prior to joining 360 ONE Asset, he served as the President and Chief Business Officer at Axis Asset Management, where he led retail and institutional sales, marketing, digital, business intelligence, public relations and investor services. His extensive experience includes significant tenures with ICICI Prudential Asset Management and Tata Asset Management.

Jul 11, 2024, 1:31 pm IST

Kalpataru Projects Bags Orders Worth Rs 2,995 Cr, Shares Hit 52-Week High

Mid cap company operating in the power sector, Kalpataru Projects International along with its Joint Ventures (JVs) and international subsidiaries bagged new orders of Rs 2,995 crores. It includes, orders in the Transmission & Distribution (T&D) business in overseas markets, EPC order in the Water business in JV, and B&F orders in India. Current market price of Kalpataru Projects share on BSE is Rs 1383.40 per share with intraday jump of 2.77%. Kalpataru Projects International shares today also hit fresh 52-week high after it shared the latest information on BSE. Kalpataru Projects shares offered return of 149% in last 1-year and gained 93% year-to-date. Kalpataru Projects recommended Rs 8/share final dividend and set June 28 as the record date. The final dividend will be paid on or before August 13, 2024, if declared.

Jul 11, 2024, 12:59 pm IST

Rail Vikas Nigam Ltd Wins 138 Cr Order, Shares Rise

Rail Vikas Nigam Ltd shares today hit fresh 52-week high after it informed of receiving new order worth Rs 138 crore from Central Railway. Current market price of Rail Vikas Nigam Limited share on BSE is Rs 631.80 per share with intraday gain of 3.48%. Rail Vikas Nigam Limited shares gained 50% in last 1-week only and soared 246% year-to-date. The railway PSU has a market capitalisation of Rs 1,31,585.62 crore. RVNL recommended a final dividend of Rs 2.11 per share on May 17 with record date yet to be decided for the same.

Jul 11, 2024, 12:42 pm IST

JTL Industries Reports 21% Growth In Q1 Net Profit; Metal Stock In Focus

JTL Industries is a small-cap firm in the metal industry that produces steel and iron products. Manufacturer of steel pipes JTL Industries Ltd. said on Wednesday that its net profit for the quarter that ended on June 30 jumped by 21% to Rs. 30.70 crore. According to an exchange filing, the company reported a profit of Rs 25.36 crore for the April-June quarter of the previous fiscal year 2023-24. From Rs 504.80 crore in Q1FY24 to Rs 515.37 crore in Q1FY25, the company's revenue from operations surged. The company's expenses reached Rs 478.83 crore in the quarter under review as against Rs 471.66 crore in the year-ago quarter. In Q1 FY25, EBITDA jumped by 20.8% compared to Q1 FY24.

Jul 11, 2024, 12:27 pm IST

Gold prices in India jumped on Thursday after remaining unchanged a day before and witnessing fall on July 9 and July 8. Meanwhile, US gold prices remained steady on July 11, 2024 as investors are looking forward to US inflation data to be released later in the day today for more cues on Fed Reserve’s interest rate trajectory. 22k gold prices in India today jumped by Rs 200 to Rs 67,300/10 grams and 100 grams of 22 carat gold prices today stood at Rs 6,73,000 after rising by Rs 2000. On the other hand, 24k yellow metal prices today soared by Rs 220 to Rs 73,420/10 grams and 100 grams of 24 carat yellow metal prices rose by Rs 2,200 to settle at Rs 7,34,200 in the country on Thursday. 18K gold prices in India today surged by Rs 160 to Rs 55,060/10 grams and 100 grams of 18 carat precious metal prices got dearer by Rs 1600 to Rs 5,50,600 in the country on Thursday. According to Reuters, “Powell did not deliver any hawkish surprises in his speech to the Senate yesterday, and that kind of assuaged the marketplace about any notions the Fed would not be able to cut interest rates yet this year,” said Jim Wyckoff, senior market analyst at Kitco Metals. The Reuters report added, the focus will be shifting to U.S. consumer price index (CPI) data to be released later today and the producer price index (PPI) report on Friday, with recent numbers highlighting inflation cooled from unexpectedly high levels at the start of the year.

Jul 11, 2024, 11:52 am IST

Ambuja Cements Shares Surge Post Nomura Upgrade

Shares of Ambuja Cements saw a 3.5% rise in early trading on the BSE, hitting a high of Rs 688. This surge was spurred by a double upgrade to a ‘buy’ rating and an increased target price of Rs 780 from global brokerage firm Nomura. Previously, Nomura had assigned Ambuja Cements a ‘reduce’ rating with a target price of Rs 500. The significant change in their assessment has positively impacted the company's stock performance.

Jul 11, 2024, 11:18 am IST

In The Trading Session, Approximately 1886 Shares Saw Gains, While 1353 Shares Experienced Losses. Additionally, 91 Shares Remained Unchanged Throughout The Day.

The Sensex dropped by 321.72 points, equating to a 0.40 percent decrease, settling at 79,603.05. Meanwhile, the Nifty fell by 83.80 points or 0.34 percent, closing at 24,240.70. In the trading session, approximately 1886 shares saw gains, while 1353 shares experienced losses. Additionally, 91 shares remained unchanged throughout the day.

Jul 11, 2024, 10:56 am IST

YES Bank Shares Surge as Moody's Changes Outlook to Positive

YES Bank's shares surged by more than 7 percent intraday after Moody's, a global ratings agency, upgraded its outlook from 'stable' to 'positive'. This change reflects optimism about the bank's depositor base and lending franchise improving. The stock of YES Bank has seen a significant rise of over 24 percent this year. This performance surpasses the benchmark Nifty 50 index, which increased by 11 percent during the same timeframe. On February 9, 2024, YES Bank had reached a 52-week high of Rs 32 per share. Moody's positive outlook is based on the enhancements in YES Bank's asset quality and capital over the past two to three years. These improvements have contributed to the bank's stronger financial position. The bank's efforts to strengthen its depositor base and lending franchise have been recognised by Moody's. The agency believes these factors will continue to support Bank's growth and stability in the future.

Jul 11, 2024, 10:32 am IST

SBI Raises Rs 10,000 Crore from Infrastructure Bonds

State Bank of India, the nation's largest lender, has successfully raised Rs 10,000 crore through its latest infrastructure bond issue. This marks the sixth time SBI has issued such bonds. The coupon rate for this bond issue stands at 7.36 percent, with a maturity period of 15 years. The funds generated from this initiative are earmarked for infrastructure projects and affordable housing schemes. This AAA-rated bond issue reflects SBI's strong creditworthiness and commitment to supporting crucial sectors in India. The raised capital will play a significant role in enhancing infrastructure and providing affordable housing solutions across the country. By focusing on these areas, SBI aims to contribute to the nation's economic growth and development. The bank's consistent efforts in raising funds through such bonds demonstrate its dedication to addressing India's infrastructural needs.

Jul 11, 2024, 10:20 am IST

Jefferies Projects Reliance Jio's IPO Valuation to Exceed Rs 9 Lakh Crore in Landmark Offering

Reliance Jio Infocomm Ltd, the telecom arm of Reliance Industries Ltd, might be gearing up for a significant IPO in 2025. According to a Jefferies note, the company could achieve a valuation exceeding Rs 9.3 lakh crore. Jefferies highlighted that Jio "could list at 2 billion valuation" and potentially boost Reliance Industries' share price by "7-15 percent." This insight was shared in their note dated July 11. The brokerage firm suggested that the entire IPO might be an offer for sale by minority shareholders. This means Reliance Industries Ltd (RIL) could consider spinning off Jio and listing it after determining its market value. Both domestic and international investors seem to support the idea of a spin-off for Jio's listing. This approach could facilitate better price discovery and attract diverse investment interests. The potential IPO is anticipated to significantly impact Reliance Industries' overall market performance. By listing Jio separately, RIL aims to unlock substantial value for its shareholders.

Jul 11, 2024, 10:08 am IST

Adani Green Energy Gets 0 Million For Solar Projects In Rajasthan & Gujarat

Adani Green Energy has successfully raised 0 million in financing from an international consortium of lenders. This funding will support the development of its 750 MW solar power projects currently under construction in Rajasthan and Gujarat, as reported by Business Standard. The Rajasthan project, totalling 500 MW, benefits from a long-term power purchase agreement with Solar Energy Corporation of India. Meanwhile, the 250 MW Gujarat project operates as a standalone merchant power project.

Jul 11, 2024, 9:58 am IST

UltraTech Cement Increases Stake In RAK Cement, Makes It A Subsidiary

UltraTech Cement's Middle East subsidiary, UCMEIL, has expanded its stake in UAE-based Ras Al Khaimah Company for White Cement (RAKWCT) by acquiring an additional 25%. This acquisition raises UltraTech's stake in RAKWCT to 54.39%, officially making it a subsidiary of UltraTech. The company disclosed this development in an exchange filing, with legal advisory provided by Baker McKenzie and Abu Dhabi Commercial Bank acting as the sole manager for the transaction. As of April, UltraTech had previously announced UCMEIL's intention to invest and acquire a 29.39% equity stake in RAKWCT, which is listed on the Abu Dhabi stock exchange.

Jul 11, 2024, 9:52 am IST

Recommendations By Aditya Gaggar, Director Of Progressive Shares

"Mid and Smallcaps led correction dragged the Index lower to settle trade on 10th July at 24,324. At a record level, the Bearish Engulfing candle on the daily chart indicates a potential reversal of the trend but to confirm a reversal, a convincing move below 24,200 is a must till then uptrend will remain intact. On the other hand, a level of 24,460 will be considered an immediate hurdle. At present, BankNifty is around a make-or-break level point of 52,100. In case of a reversal, it is likely to soar to 52,600; on the other hand, a sustainable move below 52,100 will drag the Index towards 51,900. In yesterday's trade, buying traction was seen in the Insurance stocks, we believe the momentum will continue going forward as well. We continue to remain bullish on the FMCG and Pharma sectors. Quarterly earnings of Q1FY25 can add to stock-specific volatility in the markets."

Jul 11, 2024, 9:51 am IST

Kalpataru Projects Bags Rs 2,995 Crore New Orders

Kalpataru Projects International, along with its joint ventures (JVs) and international subsidiaries, has secured new orders and notifications of awards totaling Rs 2,995 crore. These orders include Transmission & Distribution (T&D) projects in overseas markets, an EPC order in the water business through a JV, and B&F orders within India.

Jul 11, 2024, 9:48 am IST

Zydus Lifesciences Gets USFDA Approval To Market Heart Drug

Zydus Lifesciences and its subsidiaries have received final approval from the USFDA to market Sacubitril and Valsartan Tablets. This combination medication is used to treat chronic heart failure in adults, helping to reduce the risk of death and hospitalization. The tablets will be manufactured in Ahmedabad, India.

Jul 11, 2024, 9:24 am IST

Market Opens With Mild Gains

Buoyed by positive global trends, Indian indices opened higher on July 11, with the Nifty climbing above 24,350. The Sensex increased by 200.76 points (0.25%) to 80,125.53, while the Nifty rose by 56.30 points (0.23%) to 24,380.80. In market breadth, 1,758 shares advanced, 601 declined, and 130 remained unchanged.

Jul 11, 2024, 9:21 am IST

Rupee Opens Slightly Higher

The Indian Rupee saw a marginal increase, opening at 83.50 per US Dollar on Thursday, compared to Friday's close of 83.53.

Jul 11, 2024, 8:53 am IST

SBI Secures Rs 10,000 Crore Through Infrastructure Bonds Amid Strong Demand

State Bank of India (SBI), the country's largest lender, has successfully raised ₹10,000 crore through its latest AAA-rated infrastructure bond issue. This marks SBI's sixth bond issuance, featuring a coupon rate of 7.36% with a 15-year tenor. The funds generated will be allocated to support infrastructure development and affordable housing projects.

Jul 11, 2024, 8:39 am IST

Oil Prices Rise Amid Decline In US Crude Stockpiles, Increased Demand

Oil prices extended their gains for a second consecutive day, bolstered by growing demand and a positive sentiment in broader markets. Global benchmark Brent crude surpassed a barrel after a 0.5% increase on Wednesday, while West Texas Intermediate (WTI) approached . The boost comes as US crude stockpiles fell by 3.4 million barrels last week, alongside rising consumption of jet fuel and gasoline during the ongoing summer travel season.

Jul 11, 2024, 8:24 am IST

Asian Markets Surge Following US Tech Rally Ahead Of Inflation Report

Asian stocks climbed, mirroring the rally in US tech stocks that pushed global shares to new heights ahead of Thursday’s inflation data. Equities in Japan and Australia, along with futures for Hong Kong stocks, all saw gains, reflecting Wall Street's bullish trend on Wednesday. The S&P 500 and Nasdaq 100 both rose over 1% to reach record levels. The S&P 500 has now advanced for seven consecutive sessions, marking its longest winning streak since November and driving a global equity index to a new record.

Jul 11, 2024, 8:13 am IST

Nasdaq And S&P 500 Hit Record Highs Boosted By Tech Gains

The Nasdaq and S&P 500 soared to record-high closes on Wednesday, driven by strong performances from Nvidia and other major Wall Street stocks ahead of upcoming inflation data and quarterly earnings reports. This marks the seventh consecutive record close for the Nasdaq and the sixth for the S&P 500. The S&P 500 surpassed 5,600 for the first time after Federal Reserve Chair Jerome Powell raised expectations for a potential interest rate cut in September.