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POST-MARKET REPORT
The Benchmark indices Nifty and Sensex crossed major milestones led by buying across sectors, barring media.
At close, the Sensex was up 545.35 points or 0.69 percent at 79,986.80, and the Nifty was up 162.65 points or 0.67 percent at 24,286.50.
Biggest gainers on the Nifty were Tata Consumer Products, Adani Ports, Kotak Mahindra Bank, Axis Bank and HDFC Bank, while losers were TCS, Titan Company, Reliance Industries, Tata Motors and Hindalco Industries.
Among sectors, except media, all other sectoral indices ended in the green with power, capital goods, bank, and metal up 1-2 percent.
The BSE midcap and smallcap indices rose nearly 1 percent each.
STOCKS TODAY
HDFC Bank: Shares of the private lender surged 2.2 percent to hit an all-time high of Rs 1,791 per share on July 3 after the release of June shareholding data. With foreign investors’ stake falling below 55 percent in the June quarter, analysts anticipate a potential doubling of the bank’s weighting in the MSCI Standard index during the upcoming reshuffle.
Wockhardt: Shares of the company surged 5 percent, extending its winning streak. The stock has been on a skyward journey, surging close to 40 percent in five consecutive sessions and hitting a 52-week high of Rs 943 today. Bullishness over the company stems from two of its promising antibiotics, which are heading closer to a probable launch in India.
MOIL: The stock surged as much as 6.8 percent after the company posted record quarterly sales and production since inception during the April-June quarter of FY25. The company’s sales grew 14.5 percent on year to an all-time high in Q1FY25 backed by a record quarterly production.
V-Mart Retail: The stock rose 5.2 percent and hit a 52-week high of Rs 3,035 buoyed by the company’s robust quarterly updates, showcasing healthy revenue and same-store sales growth (SSSG). The retailer’s revenue rose 16 percent on-year to Rs 790 crore in Q1FY25 led by SSSG of 11 percent and footprint addition.
KEC International: The stock rose over 2.3 percent after the firm secured new orders of Rs 1,017 crore in transmission & distribution (T&D) and renewables businesses. The business has won orders for the EPC project and supply of towers in the Middle East.
Federal Bank: Shares of the lender rallied 3.6 percent to hit a fresh 52-week high after it reported a strong business update for Q1FY25. The bank reported gross advances growth of 20 percent to Rs 2,24,139 crore in the quarter ended June 2024 as against Rs 1,86,593 crore in the year-ago quarter.
PB Fintech: Shares of PolicyBazaar parent fell over 3 percent on profit booking. The stock recovered to close 0.8 percent lower. According to recent reports, American financial services major Capital Group, and asset management companies T Rowe Price, Fidelity and Vanguard have all acquired stakes in PB Fintech.
Tata Consultancy Services: Shares of the IT major fell over 1.2 percent on account of profit-booking as the stock has run up around 4 percent in the last five sessions. The company is slated to announce its Q1FY25 earnings next week on July 11.