Get App
POST MARKET
Indian equity indices ended on a flat note in the range-bound session on July 1, as selling in banking, auto, IT, FMCG, and pharma stocks overshadowed strength in oil & gas.
At close, the Sensex was up 90.83 points or 0.11 percent at 83,697.29, and the Nifty was up 24.75 points or 0.10 percent at 25,541.80. About 1971 shares advanced, 1889 shares declined, and 150 shares remained unchanged.
Apollo Hospitals, Bharat Electronics, Reliance Industries, SBI Life Insurance, and Asian Paints were among the major gainers on the Nifty, while losers included Axis Bank, Nestle, Shriram Finance, Eternal, and Trent.
On the sectoral front, FMCG, media, and power shed between 0.4-1.3 percent, while the PSU Bank index up 0.7 percent and the Consumer Durables index rose 0.4 percent.
The broader market indices snapped the seven-day gains for the broader indices, coming to an end as the BSE Midcap and Smallcap ended with marginal losses.
STOCKS TODAY
Bharat Electronics
Shares of Bharat Electronics hit a new high on July 1 amid heavy volumes after the Navratna defence public sector undertaking (PSU) company secured additional orders worth Rs 528 crore. This comes just a week after the defence major announced orders worth Rs 585 crore. The stock is up over 45 percent since the beginning of the year.
IDFC First Bank
Shares of the lender surged 5 percent on July 1 after brokerage firm Investec upgraded its rating on the Mumbai-based private lender and increased its price target by nearly 38 percent. Investec has upgraded its rating on the stock to “buy” and has raised its price target from Rs 65 per share to Rs 90 apiece.
Kalpataru
Share price rallied over 9 percent after making a flat debut in the Indian stock market today. Mumbai-based Kalpataru focuses on the development of residential, commercial, retail, and integrated township projects.
Dixon Tech
The share price fell over 3 percent after Morgan Stanley downgraded the stock amid concerns about rising competition and earnings slowdown. While Dixon’s move into component manufacturing is seen as a positive strategic shift, Morgan Stanley cautioned that this area could prove more difficult to scale than its traditional EMS operations.
Reliance Industries
Shares rallied as much as 2 percent after brokerage firm Nuvama Institutional Equities gave Reliance Industries Ltd (RIL) its highest target price on the Street, after reiterating its bullishness following the launch of RIL’s solar modules. Reliance Industries announced the start of its first line of HJT (heterojunction solar panels) module manufacturing facility of 1GW, which can be scaled up in phases to a fully integrated 10GW by early CY26E.
Source – Money Control