The Indian benchmark equity indices are trading higher on Tuesday. The rise was driven by gains in Sun Pharma, IndusInd Bank, and Hero MotoCorp. The NSE Nifty 50 opened 60.2 points, or 0.24% higher, at 25,089.50, while the BSE Sensex opened 20.30 points, or 0.02%, lower at 82,233.16.
Global Markets
Donald Trump has warned of 100% tariffs on Russia if no Ukraine peace deal is reached within 50 days. He also promised NATO-backed weapons, including Patriot systems, to Ukraine, increasing pressure on Moscow. Markets, including the Dow, S&P 500, and Nasdaq, remained flat as investors await for key inflation data.
- The S&P 500 Index closed up 8.81 points, or 0.14%, at 6,268.56.
- The Dow Jones Industrial Average closed up 88.14 points, or 0.2%, at 44,459.65.
- The FTSE 100 closed up 56.94 points, or 0.64%, at 8,998.06.
- DAX closed down 94.64 points, or 0.39%, at 24,160.64.
Asian Indexes
- Nikkei up 0.13%
- Hang Seng up 0.17%
- Kospi down 0.05%
Commodities Market
- WTI crude is trading at $66.66, down 0.48% for the day.
- Brent crude is at $68.89, slipping 0.5%. Both benchmarks continue to edge lower
- GOLD is up 0.02% and now trading at Rs. 9,864 per gram.
- Silver is down 0.02% and now trading at Rs. 1,12,915 per kg.
- Copper is up 0.01% and now trading at Rs. 882.50 per kg.
Results to Watch – July 15
Several companies are set to report their quarterly earnings today. Key names include HDFC Life, ICICI Lombard, ICICI Prudential, Just Dial, Bank of Maharashtra, and Network18, among others.
To be announced today…
The U.S. will announce its core CPI data on Tuesday, while Europe is set to release its industrial production figures.
Stocks to Watch:
- Brigade Enterprises approved raising up to Rs. 1,500 crore through Non-Convertible Debentures via private placement in multiple tranches.
- Deepak Fertilizers signed a long-term deal with Petronet LNG to convert 25 TBTUs of LNG yearly at the Dahej terminal. The Rs. 1,200 crore contract will mainly supply gas to its Taloja plant, with a possible 20% cost increase over time.
- Sun Pharma settled a legal case with Incyte and will now launch LEQSELVI in the U.S. to treat adults with severe hair loss (alopecia areata).
- Unicommerce has partnered with Sennheiser to handle its online sales using the ConvertWay platform.
- AstraZeneca Pharma received government approval to import and sell Imfinzi (Durvalumab), a drug used to treat muscle-invasive bladder cancer in adults.
- UNO Minda clarified that there is no proposal before the board for starting rare earth magnet production in India.
- RVNL received a Rs. 447 crore order from Delhi Metro to design and build a 7.3 km viaduct with 7 station platforms under Phase IV.
- RailTel received a Rs. 264.07 crore order from East Central Railway to install Kavach, a train collision avoidance system, on low-traffic routes.
- Inox Wind‘s board will meet on July 17 to consider raising funds through a rights issue or other allowed methods.
- Patanjali Foods board will meet on July 17 to consider a proposal for issuing bonus shares.
- Oberoi Realty’s consortium has received approval to acquire Hotel Horizon in Juhu, Mumbai for Rs. 919 crore under the insolvency process.
- Indian Overseas Bank Reduced Marginal Cost of Funds-based Lending Rate (MCLR) by 10 basis points across all tenures, effective tomorrow.
- Power Mech Projects received two orders: Rs. 498.39 crore from SJVN Thermal for O&M and support at the Buxar Power Project and Rs. 52.96 crore from Jhabua Power for O&M work at a plant in Seoni, Madhya Pradesh.
- Meson Valves India received a Rs. 46.26 lakh order from Mazagon Dock Shipbuilders for a submarine fuel system.
- Tara Chand Infralogistic Solutions won an Rs. 81.51 crore contract from SAIL for 4.5 years to operate at the Dankuni warehouse.
- Namo eWaste has started a 12,240 MTPA lithium-ion battery recycling plant in Nashik, boosting its capacity and profit margins.
Bulk deal
- Parsvnath Developers: Leading Light Fund VCC – The Triumph Fund sold 68.2 lakh shares of Parsvnath Developers at Rs. 23.17 per share.
- TVS Infrastructure Trust: Ambit Wealth bought 57.25 lakh units at Rs. 100.56 each, while Larsen & Toubro sold 60 lakh units at the same price.
SME IPO listing today:
- GLEN Industries
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