{"id":17896,"date":"2022-07-05T16:27:09","date_gmt":"2022-07-05T10:57:09","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=17896"},"modified":"2022-07-05T16:28:33","modified_gmt":"2022-07-05T10:58:33","slug":"post-market-report-benchmark-indices-slip-on-selling-pressure-hdfc-bank-ril-tcs-and-britannia-in-news","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/post-market-report-benchmark-indices-slip-on-selling-pressure-hdfc-bank-ril-tcs-and-britannia-in-news\/","title":{"rendered":"Post Market Report: Benchmark indices slip on selling pressure; HDFC Bank, RIL, TCS and Britannia in news"},"content":{"rendered":"\t\t
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Benchmark equity indices erased the day\u2019s gains and closed lower amid heavy selling pressure and dragged by losses in information technology, banking and auto stocks. The Sensex slip 0.19% and the Nifty 50 index slipped 0.15%.<\/p>

Top Nifty sectoral losers were Media [0.9%], IT [0.7%], Bank [0.37%], Auto [-0.36%] and Financial Services [-0.24%]. Top gainers were Energy [0.63%], metal [0.3%] and Pharma [0.13%].<\/p>

Indian rupee plunged to a record low of 79.37 against the US dollar on Tusday amid concerns of a wider current account deficit.<\/p>

The S&P Global Purchasing Managers\u2019 Index (PMI) for services rose to its highest level since April 2011 to 59.2 in June from 58.9 in May due to improving demand, capacity expansion and favourable economic conditions.<\/p>

In other news, India\u2019s goods exports rose 16.78% in June (year-on-year) to $37.94 billion, led by petroleum products, electronic goods, gems and jewellery and ready-made garments, according to preliminary trade data released by the Commerce & Industry Ministry.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Stock in News Today<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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HDFC Bank<\/strong>: The lender has received the Reserve Bank of India\u2019s (RBI) approval for the merger of Housing Development Finance Corporation with the bank, according to a regulatory filing. The proposed merger remains subject to approvals from CCI, NCLT and shareholders and creditors of the two companies.<\/p>

Reliance Industries Ltd (RIL)<\/strong>: Brokerage firm Nomura Financial Advisory and Securities India has upgraded the shares of Reliance Industries to \u2018buy\u2019 from \u2018neutral\u2019 following a steep correction in the share price since July 1. Nomura termed the 7 percent decline in the stock following the imposition of a special additional excise duty by the government on petrol and diesel exports as \u2018overdone\u2019.<\/p>

Tata Consultancy Services (TCS):<\/strong> The IT major has been selected by Outokumpu, the global leader in sustainable stainless steel, to transform its IT landscape with an agile and secure cloud-based digital core to reduce its carbon footprint and support its strategic aspirations. TCS will use its deep industry knowledge of the steel sector to support Outokumpu in building a new digital core using advanced digital technologies such as cloud, data analytics and Artificial Intelligence (AI).<\/p>

Britannia Industries<\/strong>: The company\u2019s shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week.<\/p>

Life Insurance Corp of India (LIC)<\/strong>: Shares rose 1.5% after brokerage firm Motilal Oswal initiated coverage of with ‘buy’ recommendation and fixed target price at Rs 830 apiece. The brokerage frm cited the LIC\u2019s leadership position in life insurance industry, brand value, distribution network and superior customer-connect.<\/p>

SpiceJet:<\/strong> Shares of the company fell over 2% after news reports said that SpiceJet SG-11 flight from Delhi to Dubai made an emergency landing in Karachi after developing a technical glitch. The company’s spokesperson said that all the passengers on board are safe and that safe landing in Karachi was required due to indicator light malfunctioning.<\/p>

Garware Technical<\/strong>: Shares of textiles company rose Garware Technical rose 2.4% after brokerage firm ICICI Direct initiated coverage of the stock with ‘buy’ and a target price at Rs 3,695. ICICI Direct cited that the focus to improve profitability, strengthen balance sheet, increase of value added products and expansion of aquaculture cage businesses as key growth drivers for the stock<\/p>

BLS International<\/strong>: Shares of the company closed 3.82% higher after the company announced that it has been authorised by Royal Thai Embassy to provide visa services in Kenya. In an exchange filing, the company said that it started accepting visa applications on behalf of the embassy from July 1.<\/p>

Ujjivan Small Finance Bank<\/strong>: Shares of the lender rose nearly 8% in intraday trading before paring today\u2019s gains after the company shared its Q1 business update with exchanges. Its advances grew 38.3% YoY to Rs 19,409 crore. Total deposits were up 34.8% YoY to Rs 18,433 crore. GNPA fell 5.9% compared to 7.1% in March 2022.<\/p>

Krsnaa Diagnostics<\/strong>: Shares of the company rose nearly 2% after it won a tender from Indira Gandhi Hospital in Delhi for establishment, operation and management of radiology unit on Public-Private Partnership basis. The company will set up one MRI 3T machine and CT Scan Machine at the hospital, as part of the contract. The tenure of the contract will be upto 12 years from date of installation.<\/p>

MMTC<\/strong>: Shares of the company rose 3.83% after the company transferred 49.78% stake of Neelachal Ispat Nigam to Tata Steel Long Products, the company said in an exchange filing. Tata Steel Long Products was the successful bidder selected through two-stage auction procedure involving competitive bidding process done under the supervision of DIPAM.<\/p>

Marksans Pharma<\/strong>: Shares of the specialty chemicals and active ingredients maker Marksans Pharma surged 13.97% after the company informed exchanges that it will consider proposal for buyback of equity shares on July 8.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tOpen a Free Demat Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"Benchmark equity indices erased the day\u2019s gains and closed lower amid heavy selling pressure and dragged by losses…","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[44],"tags":[46,43,78,48,26,77,47,24,23],"class_list":{"0":"post-17896","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-eveninger","7":"tag-market-news","8":"tag-market-update","9":"tag-nifty","10":"tag-nifty-today","11":"tag-nse","12":"tag-sensex","13":"tag-sensex-today","14":"tag-share-market","15":"tag-stock-market","16":"cs-entry","17":"cs-video-wrap"},"yoast_head":"\nPost Market Report: Benchmark indices slip on selling pressure; HDFC Bank, RIL, TCS and Britannia in news - Flattrade Kosh<\/title>\n<meta name=\"description\" content=\"Benchmark equity indices erased the day\u2019s gains and closed lower amid heavy selling pressure and dragged by losses in information technology, banking and auto stocks. 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