The Indian benchmark equity indices are up for two consecutive sessions amid continued geopolitical uncertainity. Today’s market is pulled up by share prices of Eternal, ICICI Bank And HDFC Bank. The NSE Nifty 50 opened 75.95 points or 0.3% up at 25,166.65, while the BSE Sensex opened 327.09 points, or 0.41% up at 82,538.17.
Global Markets
- U.S. stocks hit fresh record highs on Monday, driven by anticipation around a packed earnings week with major reports due from companies like Tesla and Alphabet. The S&P 500 closed above 6,300 for the first time, while the Nasdaq also set a new high, reflecting optimism ahead of big tech results.
- The earnings season has started on a strong note, Verizon surged 4% after beating second-quarter estimates, adding to positive sentiment. So far, 62 S&P 500 companies have reported, with over 85% exceeding expectations, according to FactSet.
- The S&P 500 Index closed slightly up 8.81 points, or 0.14%, at 6,305.60.
- The Dow Jones Industrial Average closed down 19.12 points, or 0.043%, at 44,323.07.
- The FTSE 100 closed up 20.87 points, or 0.23%, at 9,012.99.
- DAX closed up 18.29 points, or 0.07%, at 24,307.80.
Asian Indexes
- Asian stocks edged higher, supported by a relief rally in Japanese markets after Prime Minister Shigeru Ishiba confirmed he would remain in office despite the ruling coalition losing its upper house majority. The MSCI Asia-Pacific index rose 0.1%, following the S&P 500’s milestone close above the 6,300 mark.
- Nikkei up 0.19%
- Hang Seng down 0.06%
- Kospi down 0.56%
Commodities Market
- WTI crude is trading at $65.4, down 0.74% for the day.
- Brent crude is at $68.6, down 0.8%.
- Gold is down 0.03% and now trading at Rs. 9,951 per gram.
- Silver is down 0.04% and now trading at Rs. 1,15,001 per kg.
- Copper is up 0.39% and now trading at Rs. 895.30 per kg.
Results to Watch – July 22
A host of companies are set to announce their quarterly results on July 22, including Aurionpro Solutions, Blue Jet Healthcare, Colgate Palmolive (India), CreditAccess Grameen, Cyient DLM, Dalmia Bharat, Dixon Technologies, Goodluck India, Huhtamaki India, Ideaforge Technology, IRFC, Jana SFB, JSW Infrastructure, Kajaria Ceramics, KEI Industries, Kirloskar Pneumatic Company, Mahindra & Mahindra Financial Services, Mahanagar Gas, One 97 Communications (Paytm), Schloss Bangalore (Leela Hotels), Shyam Metalics and Energy, SML, United Breweries, VST Industries, Welspun Specialty Solutions, and Zee Entertainment Enterprises.
Stocks to Watch
- Bajaj Finance: Anup Kumar Saha has stepped down as Managing Director citing personal reasons. Rajeev Jain has been re-designated as Vice Chairman and MD until March 2028 to ensure leadership continuity.
- 360 One WAM: Bain Capital is offloading a 3.7% stake, or 1.5 crore shares, in 360 One WAM via a block deal worth around USD 202 million. The floor price is set at Rs 1,160 per share, representing a 5% discount, and the seller will face a 120-day lock-up.
- State Bank of India (SBI): SBI raised Rs 25,000 crore through a QIP, allocating 30.6 crore shares at Rs 817 each to institutional investors. LIC increased its stake in the bank from 9.21% to 9.49% by purchasing 6.12 crore shares.
- Afcons Infrastructure: Afcons Infra secured a €677 million (Rs 6,800 crore) railway project in Croatia involving reconstruction, new track development, electrification, and signalling. It emerged as the lowest bidder for the contract awarded by HZ Infrastructure.
- LIC: LIC bought 6.12 crore shares of SBI at Rs 817 apiece. This raised its stake in SBI to 9.49% from 9.21%.
- Dr. Reddy’s: The USFDA completed an inspection at Dr. Reddy’s New York facility. The site received a classification of “Voluntary Action Indicated” in the Establishment Inspection Report.
- Simplex Infrastructures: The company approved conversion of 8.65 lakh warrants into equity shares at an issue price of Rs 289. This move strengthens its capital structure through equity infusion.
- Zota Health Care: Zota allotted 2.1 lakh shares upon warrant conversion at Rs 509 each. Notable allottees include Ramesh S Damani (1 lakh shares) and Akshat Greentech (1.1 lakh shares).
- BL Kashyap: BL Kashyap secured a Rs 910 crore order from BPTP for civil construction of residential towers and related infrastructure. The project includes community buildings and non-tower spaces.
- Samvardhana Motherson International: The company approved the issuance of bonus shares worth Rs 352 crore. This step is aimed at rewarding shareholders and improving stock liquidity.
- Arisinfra Solutions: Arisinfra won a Rs 340 crore order to supply construction materials, including RMC, steel, cement, and electrical items for Transcon’s Mumbai projects. This boosts its urban infrastructure portfolio significantly.
- Quality Power: The company bagged a Rs 10 crore order to supply dry-type shunt reactors. These will be used in a hyperscale data centre project in Finland.
- Rajoo Engineers: Rajoo Engineers closed a QIP by allotting 1.47 crore shares at Rs 109 each, raising Rs 160 crore. Investors included Morgan Stanley and other institutional buyers.
- Titan Company: Titan, via its subsidiary, is acquiring a 67% stake in UAE-based Damas LLC, valuing the firm at AED 1,038 million. Damas operates 146 jewellery stores across the GCC region.
- Jtekt India: The board approved a rights issue of 2.3 crore shares at Rs 108.1 each, aggregating up to Rs 250 crore. This will help support the company’s growth plans.
- IIFL Capital Services: IIFL Wealth (UK), a subsidiary of IIFL Capital, has initiated voluntary dissolution. The move is part of strategic restructuring within the group.
- Torrent Pharma: Torrent Pharma will hold a board meeting on July 28 to consider raising funds through NCDs or bonds via private placement. This could help support its expansion or refinancing plans.
- Brigade Enterprises: Brigade Group acquired a 20-acre land parcel in Bengaluru for Rs 588 crore. The acquisition will aid in expanding its real estate development pipeline.
- Cipla: Cipla has signed definitive agreements to acquire a 20% stake in iCaltech Innovations. The move is aimed at enhancing its digital health capabilities.
- Lemon Tree Hotels: Lemon Tree announced the opening of its new property, Keys Lite, in Banswara, Rajasthan. This marks its 11th hotel in the state, strengthening its regional footprint.
Bulk Deal
- Jayaswal Neco: Assets Care and Reconstruction Enterprise offloaded 85.5 lakh shares, representing a 0.88% equity stake, at ₹38.55 per share.
Written By Fazal Ul Vahab C H
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