The Indian benchmark equity indices opened and traded down for the 4th consecutive session. Today’s market is dragged down by share prices of Kotak Mahindra Bank, Bajaj Finance and IndusInd Bank. The NSE Nifty 50 opened 71.25 points or 0.29% down at 24,609.65, while the BSE Sensex opened 270.77 points, or 0.33% down at 80,620.25.
Global Markets
- US equities rose Monday as a weekend trade deal with the EU boosted sentiment ahead of key Big Tech earnings, economic data, and the upcoming Fed meeting.
- The S&P 500 Index closed up 1.13 points, or 0.02%, at 6,389.77.
- The Dow Jones Industrial Average closed down 64.36 points, or 0.14%, at 44,837.56.
- The FTSE 100 closed down 38.87 points, or 0.43%, at 38.87.
- DAX closed down 247.14 points, or 1.02%, at 23,970.36.
Asian Indexes
- Nikkei down 0.91%
- Hang Seng down 0.92%
- Kospi up 0.64%
Commodities Market
Crude held gains after Trump urged Russia to quickly end the war in Ukraine or face sanctions, fueling supply concerns. WTI hovered near $67, while Brent stayed close to $70.
- WTI crude is trading at $66.78, up 0.11% for the day.
- Brent crude is at $70.13, up 0.13%.
- Gold is up 0.36% and now trading at Rs. 9,902 per gram.
- Silver is down 0.01% and now trading at Rs. 1,13,045 per kg.
- Copper is down 0.1% and now trading at Rs. 888.65 per kg.
Results to Watch – July 29
Key companies scheduled to report include Amber Enterprises, L&T, Asian Paints, Bank of India, NTPC, Varun Beverages, Piramal Enterprises, and Star Health, along with names across sectors like auto, infra, pharma, and consumer goods including ASK Automotive, Jubilant Pharmova, V-Guard, Welspun Corp, and Blue Dart.
Stock to Watch
- Senores Pharmaceuticals: The USFDA inspected Senores Pharmaceuticals’ Georgia facility from July 21-25 and issued a form 483 listing three observations. This marks a recent regulatory review at the Georgia site.
- Sona Comstar: Sona Comstar clarified that Rani Kapur has not had any formal role with the company since 2019, refuting any suggestion of her involvement or coercion regarding documentation. The company also emphasised its compliance with all regulations for the reappointments of Jeffery Overly and Priya Sachdev Kapur, while denouncing recent allegations as unfounded.
- Cosmo First: Zigly, the pet care division of Cosmo First, has acquired Santa Animal Healthcare in Bengaluru, aiming to drive rapid growth in veterinary services. The acquisition process is projected to complete within 36 months.
- TVS Srichakra: TVS Srichakra has launched its fourth exclusive store in Chennai, further enhancing its retail footprint in the city. This expansion aligns with its growth strategy in the region.
- PCBL Chemical: PCBL Chemical has incorporated a new subsidiary, PCBL Chemical USA, by acquiring 1,000 equity shares at $1 each. This move is intended to expand its direct reach into North American markets.
- Muthoot Finance: Muthoot Finance has appointed Thomas Kokkoth as Chief Risk Officer effective Aug. 6, and reappointed Alexander George as Whole-Time Director for another five years. These leadership updates were approved recently.
- Omaxe: Omaxe has secured Rs 500 crore in funding from Oaktree Capital Management to boost the delivery of its residential, commercial, and public-private partnership projects. The funds will support timely project completion across multiple real estate segments.
- Centrum Capital: Centrum Capital clarified that the issue price of Rs 28.52 per warrant for its preferential issue meets or exceeds the regulatory floor price requirement. This confirms the company’s compliance with applicable pricing norms.
- Greenlam Industries: Greenlam Industries’ subsidiary received an extended special incentive package from the Andhra Pradesh Government for its particle board project. This support will aid the project’s establishment and expansion.
- Man Industries: Man Industries has raised Rs 255 crore through a preferential share issue at Rs 328 per share. The funds will be used to bolster the company’s financial position.
- PNC Infratech: PNC Infratech has been ranked as the lowest bidder for a Rs 2,956 crore NHPC tender and secured a 300 MW ISTS Solar Power Project, which includes a 150 MW energy storage system. The company also emerged as the lowest bidder for a Rs 2,956.66 crore contract from South Eastern Coalfields involving mining and coal handling in Chhattisgarh.
- HG Infra Engineering: HG Infra Engineering has acquired Angul Sundargarh Transmission, enhancing its opportunities for both organic and inorganic growth. The acquisition strengthens the company’s position in the sector.
- RPSG Ventures: RPSG Ventures’ subsidiary has executed a Share Purchase Agreement with the England and Wales Cricket Board to acquire a 70% stake in Manchester Originals for GBP 81.21 million, payable over 24 months. Manchester Originals is now a subsidiary of RPSG Sports Ventures and a step-down subsidiary of RPSG Ventures.
- Zuari Agro Chemicals: Zuari Agro Chemicals plans to invest up to Rs 180 crore in its joint venture by subscribing to compulsorily convertible preference shares. This investment will support the partnership’s development.
- Kaynes Technology India: Kaynes Technology India acquired a 76% stake in Aerocaliph Components for Rs 60 lakh, a 76% stake in Cryo Precision Technologies for Rs 7 lakh, and an 11% stake in Tranzmeo IT Solutions for Rs 43 crore. These strategic investments expand its portfolio and capabilities.
- Oil & Natural Gas Corp: ONGC has signed a joint operating agreement with BP Exploration and Reliance Industries for offshore exploration in the Saurashtra Basin. This partnership aims to advance resource development in the region.
- Aster DM Healthcare: The Ministry of Corporate Affairs approved the creation of Aster DM Healthcare’s wholly owned subsidiary in Bengaluru. This expansion advances the company’s growth in India.
- Aditya Birla Capital: Aditya Birla Capital has issued 147 non-convertible debentures totaling Rs 147 crore through private placement. This move is designed to strengthen the company’s funding base.
- Steel Exchange of India: The board of Steel Exchange of India will meet on Aug. 4 to consider a rights issue of up to Rs 150 crore. This capital plan aims to support the company’s strategic goals.
- United Spirits: Diageo Scotland revealed a pricing shortfall on certain bulk scotch supplies but confirmed United Spirits will not be billed for it, while the company is making voluntary payments of up to Rs 125 crore. These actions resolve the matter without additional charges.
- Saraswati Commercial India: Saraswati Commercial India acquired a 0.2% stake in Aditya Infotech for Rs 13 crore. This transaction adds to the company’s investment portfolio.
- ELCID Investments: ELCID Investments will invest up to Rs 7.5 crore via compulsory convertible preference shares in Zepto. The investment will help further Zepto’s growth plans.
- HLE Glascoat: HLE Glascoat has completed the acquisition of 100% of HLE Surface Technologies GmbH for Rs 0.29 crore. This acquisition expands the company’s international operations.
- Solarium Green Energy: Solarium Green Energy received two orders valued at Rs 26.6 crore from NTPC Vidyut Vyapar Nigam. The orders will support ongoing project and revenue growth.
- Lumax Auto: NCLT has sanctioned the amalgamation of Lumax Ancillary with Lumax Auto. This legal approval paves the way for operational integration.
Block & Bulk Deals
- UPL: BofA Securities Europe SA bought 5.54 lakh shares at ₹538.24 each.
- Marksans Pharma: Unifi Capital acquired 72.41 lakh shares at ₹231.5 apiece.
- Ganesh Infraworld: Promoter Starwings Realtors picked up 2.96 lakh shares at ₹202.33 per share.
Written By Fazal Ul Vahab C H
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