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POST-MARKET REPORT
Indian benchmark indices, which opened at record high levels, climbed further to create fresh all-time highs and closed higher today.
At close, Nifty was up 71.90 points, or 0.31%, at 23,557.90 while Sensex closed at 77,301.14, up 265.51 points, or 0.34%.
Gainers and Losers on Nifty: Fourteen out of the 50 stocks on the Nifty 50 were trading in the red. Maruti Suzuki India, Dr Reddy’s UltraTech Cement, Tata Steel, and Tata Motors, were the top drags, while Shriram Finance, Power Grid Corp., Wipro, Titan, and Adani Enterprises, were the top gainers.
Gainers and Losers on Sensex: Nine out of the 30 stocks on the BSE Sensex were trading in the red. Maruti Suzuki India, UltraTech Cement, Tata Steel, Tata Motors, and ITC were the top drags, while Power Grid Corp., Wipro, Titan, Mahindra & Mahindra, and ICICI Bank were the top gainers.
Sectoral Indices today: Barring health, pharma, metal, media, and FMCG, all other sectoral indices were green. Gains were led by realty, consumer durables, banks, financial services, and IT indices.
Broader market indices today: The broader market was up, with the BSE SmallCap gaining 1.03% and the BSE MidCap climbing 0.46%.
STOCKS TODAY
Shakti Pumps: The stock was locked at a 5 percent upper circuit after the company announced that its long-term rating was upgraded by INDIA Ratings & Research. The company’s term loan due in FY25 has been upgraded to IND A+/Stable. Likewise, its long-term fund-based limits rating has been upgraded, and the short-term rating remains at IND A+/Stable/IND A1.
IIFL Finance: The stock of this gold financier rose over 2 percent after the company said that it had rectified all deficiencies pointed out by the Reserve Bank of India (RBI) for its gold loan portfolio. Earlier this year, the RBI had ordered IIFL Finance to stop sanctioning, disbursing, and selling gold loans citing ‘material supervisory concerns’ in its gold loan portfolio.
Biocon: Shares tumbled 2 percent after the US Food and Drug Administration issued three observations for its Active Pharmaceutical Ingredients (API) facility in Visakhapatnam. The US FDA concluded its good manufacturing practices (GMP) inspection of Biocon’s API facility on 14 June 2024.
HFCL: Shares soared over 5 percent after it was exempted from anti-dumping duties imposed by the European Commission on rival Indian Optical Fiber Cable (OFC) manufacturers. HFCL was the only Indian company that was found to not be engaged in the dumping of optical fiber cables (OFC) across European markets, a statement from the European Commission said.
BLS E-Services: Shares surged around 7 percent after the company announced signing a pact to acquire a 55 percent controlling interest in Aadifidelis Solutions and its affiliates for an enterprise value of roughly Rs 190 crore, as per an exchange filing. for the acquisition, BLS E-Services will pay Rs 71 crore upfront, with the balance to be deferred linked to the achievement of milestones in FY25. The acquisition, which will be an all-cash deal will be completed in Q2 of FY25.
Som Distilleries and Breweries: Shares crashed over 6 percent after the National Commission for Protection Of Child Rights (NCPCR) announced it found 50 children working at the firm’s Madhya Pradesh plant. However, the firm has denied responsibility for employing child labor, and instead said a private contractor was accountable for the mishap.