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Benchmark equity indices closed lower ahead of the inflation numbers as well as TCS and HCL Technologies earnings announcement. The Sensex fell 0.34% and the Nifty 50 index was down 0.28%.
In broader markets, the Nifty Midcap 100 index rose 0.43% and the BSE Smallcap index advanced 0.57%.
Top gainers among Nifty sectoral indices snapshot were PSU Bank [0.77%], Media [0.3%], Pharma [0.27%], Oil & Gas [0.17%] and Healthcare [0.16%]. Top losers were IT [-0.83%], Private Bank [-0.27%], MEtal [-0.27%], Bank [-0.19%], and Consumer Durables [-0.16%].
Indian rupee appreciated by 14 paise to 82.24 against the US dollar on Wednesday.
HDFC shares will be suspended w.e.f closing hours of July 12, 2023 as the company is merging with HDFC Bank. Last traded price of HDFC shares was Rs 2733 apiece.
Stock in News Today
Mahindra & Mahindra (M&M): The automaker said that the total production in June 2023 was 64,063 units, up by 19.10% from 53,788 units produced in the same period last year. The auto major’s total sales rose 16.77% to 59,924 units in June 2023 as against 51,319 units sold in the same period a year ago. On the other hand, exports for the period under review declined 9.79% YoY to 2,505 units.
Wipro: The IT major said in an exchange filing that it has launched Wipro ai360, a comprehensive AI-first innovation ecosystem, with the goal of integrating AI into every platform, every tool, and every solution used internally and offered to clients. It also plans to invest $1 billion in advancing AI capabilities over the next three years.
Elgi Equipments: Shares of the company surged over 14% in intraday trade after securing a 10-year supply order from Siemens. As part of the order, the company will supply and maintain air generation and treatment units and aux compressors. The order is required to provide 35 years of maintenance from the date of supply.
Delta Corp: The company shares plummeted 28.8% in intraday trading on the NSE, after the Goods and Services Tax (GST) Council decided to levy 28% GST on online gaming, horse racing and casinos on full value of the bets.
Nazara Technologies: The gaming and sports media platform clarified that the 28% GST on online gaming will have a minimal impact on their overall revenues. Nazara Technologies announced that the 28% GST on online gaming will only apply to the skill-based real money gaming segment of their business, which contributed 5.2% of the company’s overall consolidated revenues for FY23.
Kaya: The company informed that its step down subsidiary, Kaya Middle East FZE, has acquired a 99% equity stake in KAYA SKIN CARE clinic LLC (“KSC LLC”), a company operating clinics in Ras AL Khaimah, UAE. The developments are pursuant to recent changes in UAE regulations which have liberalized foreign ownership.
United Drilling Tools (UTDL): The company has received an international order worth Rs 25 crore for one of its product lines, Wireline Winch from American Completion Tools (ACT) for onward supply to Petroleos Mexicanos, a petroleum company managed and operated by the Mexican Government. Further, UDTL has bid for orders in the overseas market and has commenced bidding in the oil & gas sector, and negotiations are underway with multiple entities.
Chembond Chemicals: The company said that its wholly owned subsidiary Phiroze Sethna has entered into a deed of assignment with Engineers Enterprises for transfer and assignment of plant located at Thane, Maharashtra. The plant measures about 920 square meters and Chembond has sold the plant for a lump sum consideration of Rs 7.31 crore.
Kalpataru Projects International: The company said that its Brazilian subsidiary, KPBPL, has acquired the balance 49% equity stake in Fasttel. Consequently, Fasttel has now become a wholly owned subsidiary of KPBPL.
Marksans Pharma: The company has received final approval from US Food and Drug Administration (USFDA) for its abbreviated new drug application for Acetaminophen and Ibuprofen Tablets. The tablets provide relief for multiple pain-related symptoms by combining two powerful ingredients indicated for OTC pain relief, ibuprofen and acetaminophen.
Dilip Buildcon: The infrastructure company said that it has received provisional completion certificate for a Chhattisgarh-based project effective from June 16, 2023. The project cost stood at Rs 860.50 crore.
Roto Pumps: The company’s board of directors approved the allotment of 1,57,03,805 equity shares of Rs 2 each as fully paid-up bonus equity shares. The company issued one bonus share for each equity share held, to the eligible shareholders whose name appeared in the list of beneficial owners as on July 8 , 2023, being the record date fixed for this purpose.
Steel Strip Wheels: The company’s standalone revenue was 3% at Rs 1,044.4 lakh crore in Q1FY23 as against Rs 1,016.08 crore in the year-ago period. Standalone net profit fell 1% to Rs 47.59 crore in the reported quarter as against Rs 48.13 crore in the same quarter last year. Ebitda was up 3% YoY at Rs 112.99 crore in Q1FY24 as against Rs 109.31 crore in the corresponding quarter last year.