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POST-MARKET REPORT
India’s benchmark Sensex achieved a historic milestone by closing above the 80,000 mark for the first time on July 4, while the Nifty 50 also ended above the 24,300 mark. Despite opening higher, both indices retraced most of their gains throughout the day and closed only marginally higher.
The Sensex closed at a new record high of 80,049.67 points, marking a 0.08 percent increase, while the Nifty ended at 24,302 points, up 0.06 percent.
Among sectoral gainers, Nifty Pharma led with a gain of 1.4 percent, followed by Nifty IT and Nifty Auto, which rose 0.9 percent each. On the other hand, among the losers, Nifty Media declined by 0.5 percent, while both Nifty Financial Services and Nifty FMCG dropped by 0.2 percent each.
The broader indices performed better than the benchmark, each gaining about half a percent.
STOCKS TODAY
Lupin: Shares climbed over 8 percent after brokerage firm Kotak Institutional Equities double upgraded the stock to an ‘add’ rating, from the previous ‘sell’ call. KIE’s bullishness over Lupin stems from the drugmaker’s strong US portfolio which makes it well-poised to surprise positively on Street’s estimates in the US in FY25 and FY26.
Wockhardt: Shares surged 5 percent, extending the uptrend for the 12th straight session. With the sharp rally, the stock hit a fresh 52-week high of Rs 995, delivering exuberant gains of nearly 80 percent in the past month. Optimism for the company stems from its research and development prowess as it nears the launch of two blockbuster antibiotics, poised to change the course of the drugmaker’s earnings trajectory.
Cello World: Shares rose 2 percent after the company launched a qualified institutional placement (QIP) to raise Rs 730 crore. In the QIP, the company is offering equity shares at a floor price of Rs 896.09 per share, a near 12 percent discount from the previous closing price of Rs 901.05. The fundraising comes just eight months after the company was listed on the stock exchanges through a Rs 1,900-crore initial public offering (IPO), during which the company’s promoters and investors sold their shares in an offer for sale (OFS).
ITD Cementation: Shares fell 14 percent after the company’s promoter Italian Thai Development Public stated plans to explore potential divestment of stake. In addition, the sharp run-up in the stock in recent times also prompted investors to take partial profits home.
Suryoday Small Finance Bank: Shares gained 1.2 percent after the lender clocked strong advances and deposits in the June-ended quarter (Q1FY25). Suryoday SFB loans and advances increased by 42 percent year-on-year (YoY) to Rs 9,037 crore in Q1FY25, as compared to Rs 6,372 crore.