Share Market Highlights: Indian equities extend losses amidst Fitch’s downgrade of US credit rating

Shares of Titan declined by 2.56 per cent to ₹2,902.30 on the BSE on Thursday after the company reported a 4.3 per cent drop in its consolidated net profit in the June quarter (₹756 crore as against ₹790 crore in the same quarter of the previous financial year). The company’s margins were lower than the Street expectations.

Though analysts see near-term headwinds, in long-turn most believe it as safe bet. According to them, key risks are competition in jewellery segment.

Indian shares extended declines for a third straight day on Thursday, tracking a fall in global peers after Fitch downgraded the U.S. credit rating, with analysts expecting further consolidation in domestic equities.

The Nifty 50 fell 0.74% to 19,381.65, while the S&P BSE Sensex settled 0.82% lower to 65,240.68.

Financials lost 1.17%, leading declines on the Nifty, while banks and IT fell 1.07% and 0.24%, respectively.

SBFC Finance IPO has been subscribed 1.51 times as of 3:51 pm on August 3, 2023. The QIB portion has been subscribed 0.02 times, NII portion 2.82 times; retail 1.81 times; and those reserved for employees stood at 0.96 times.

The rupee fell by 6 paise to settle at 82.73 (provisional) against the US dollar on Thursday on weak domestic equities and a stronger greenback in the overseas market.

Sustained foreign fund outflows and firm crude oil prices further dented sentiments, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.71 against the dollar and finally ended the day at 82.73 (provisional), registering a fall of 6 paise from its previous close.

During the session, the local unit touched a peak of 82.66 and hit the lowest level of 82.81. On Wednesday, the rupee had settled at 82.67 against the dollar. - PTI

On Thursday, Indian stocks declined for the third consecutive day, following the cautious sentiment in Asian markets due to Fitch’s downgrade of the United States’ credit rating.

The Nifty 50 index concluded with a 0.74% drop, settling at 19,381.65, while the S&P BSE Sensex registered a 0.82% decline, closing at 65,240.68.

Except for the pharma, healthcare, and media sectors, all major sectoral indices ended in the red.

Asian equities were also impacted after Fitch downgraded the United States’ credit rating from AAA- to AA+, citing fiscal deterioration.

On the other hand, global brokerage Morgan Stanley upgraded its stance on Indian markets to “overweight” from “equal weight,” citing positive factors like supportive foreign inflows, macro stability, and a favorable earnings outlook.

From the Nifty50 pack, Titan, ONGC, Bajaj FinServ, ICICI Bank, and Nestle were among the major underperformers.

In contrast, Adani Enterprises, Adani Ports, Eicher Motors, Divis Labs, and Hindalco were among the gainers.

Meanwhile, the Nifty Pharma index surged to a record high, witnessing a 1.01% jump, supported by strong performances from companies like Laurus Labs, up 5.76%, and Lupin, up 3%.

Infosys announced that it has been positioned as a leader for the second consecutive year in the Everest Group’s 5G Engineering Services PEAK Matrix Assessment 2. The stock rise by 0.70% on the NSE, trading at ₹1,366.30.

Zomato stock inches up by 0.47% on the NSE, trading at ₹85.45. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹2 crore as against the loss of ₹186 crore in the previous year.

Piramal Pharma stock rises by 2.48% on the NSE, trading at ₹105.50.

Adani Power stock inches up by 0.77% on the NSE, trading at ₹269.75. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹8,759.42 crore as against ₹4,779.86 crore in the previous year.

SBFC Finance IPO has been subscribed 1.19 times as of 3:09 pm on August 3, 2023. The NII portion has been subscribed 2.13 times, retail 1.48 times, and those reserved for employees stood at 0.84 times.

Neuland Laboratories reported its consolidated net profit for the quarter ended June 30, 2023, at ₹61.87 crore as against ₹99.65 crore in the previous year. However, the stock gains 2.55% on the NSE, trading at ₹3,534.60.

Major gainers

• Adani Enterprises (1.47%)
• Eicher Motors (1.15%)
• Sun Pharma (0.96%)
• Divi’s Laboratories (0.93%)
• Adani Ports (0.68%)

Major losers

• Titan (-2.82%)
• ONGC (-2.22%)
• Bajaj Finserv (-2.11%)
• ICICI Bank (-2.09%)
• Ultratech (-1.95%)

Stocks advanced on BSE at 3 p.m. on August 3 were 1,641 against 1,882 stocks that declined. Total stocks traded were 3,687. The number of stocks that recorded a 52-week high was 161, and those that hit a 52-week low was 31.

Shares of Navneet Education fall by 4.01% on the NSE, trading at ₹153.20. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹144.94 crore as against ₹153.32 crore in the previous year.

Kansai Nerolac Paints stock falls by 3.56% on the NSE, trading at ₹325. The consolidated net profit for the quarter ended June 30, 2023, stood at ₹734 crore as against ₹152.05 crore in the previous year.

Karnataka Bank reported its consolidated net profit for the quarter ended June 30, 2023, at ₹370.73 crore as against ₹311.23 crore in the previous year. The stock rises by 3.04% on the NSE, trading at ₹210.35.

The board of Karnataka Bank has inter-alia approved inclusion of the following agenda item in the notice calling the 99th annual general meeting as enabling resolution for approval by the members: Borrowing power not exceeding ₹1,500 crore for raising funds by way of Basel III compliant debt instruments over and above the aggregate of the paid-up capital of the bank and free reserves and the securities premium at any time. This limit will be reckoned within the borrowing powers of ₹6,000 crore approved by the members at the 97th annual general meeting held on September 2, 2021.

The 99th annual general meeting of the members of Karnataka Bank will be held on August 29, 2023 at 11.30 am which will be conducted by way of videoconferencing (VC) / Other Audio Visual Means (OAVM) in accordance with the extant guidelines / circulars issued by the Union Ministry of Corporate Affairs (MCA) and SEBI.

Oriental Carbon & Chemicals reported its consolidated net profit for the quarter ended June 30, 2023, at ₹17.29 crore as against ₹15.97 crore in the previous year.

The stock surges 4.85% on the NSE, trading at ₹835.55.

Shares of Dabur India fell by 1.92% on the NSE, trading at ₹554.80. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹456.61 crore as against ₹441.06 crore in the previous year.

Blue Star stocks inch up by 0.45% on the NSE, trading at ₹778.45. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹83.37 crore as against ₹74.35 crore in the previous year.

The government on Thursday imposed import restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers and servers with immediate effect.

The Directorate General of Foreign Trade (DGFT) in a notification said that exemption from import licensing is provided for up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return, product development purposes.

The Great Eastern Shipping company reported its net profit for the quarter ended June 30, 2023, at ₹576.27 crore as against ₹457.04 crore in the previous year. The stock rises by 1.94% on the NSE, trading at ₹805.

Rossell India reported its consolidated net profit for the quarter ended June 30, 2023, at ₹1.29 crore as against ₹5.38 crore in the previous year. The stock declines by 5.40% on the NSE, trading at ₹417.

SBFC Finance IPO has been subscribed 0.95 times as of 2:03 pm on August 3, 2023. The NII portion has been subscribed 1.56 times, retail 1.24 times, and those reserved for employees stood at 0.72 times.

Major gainers: KSB (17.50%); IRFC (10.24%); FDC (7.14%); Dixon (6.91%); Poonawalla (6.90%)

Major losers: Vedanta (-6.72%); Godrej Properties (-6.05%); Delta Corp (-5.28%); Indigo (-4.98%); Shivalik (-4.91%)

Tube Investments of India Ltd: Company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹283.69 crore as against ₹246.55 crore in the previous year. The stock inches up by 0.30% on the NSE, trading at ₹3,056.60.

MRF’s Q1 profit zooms to Rs.581 crore when compared with Rs.112 crore in Q1 of FY23. Revenue is higher at Rs.6323 crore when compared with Rs.5599 crore, while the cost of raw materials consumed is lower at Rs.3722 crore as against Rs.4043 crore. Operating margin in Q1 of this fiscal is significantly higher at 12.38% when compared with 3.24% in Q1FY23.

MRF Board approved the re-appointment of K M Mammen, as Managing Director of the Company (with the designation “Chairman &: Managing Director) for a period of 5 years with effect from 8 February 2024.

Andhra Paper reported its net profit for the quarter ended June 30, 2023, at ₹118.54 crore as against ₹84.94 crore in the previous year. The stock falls 2.17% on the NSE, trading at ₹421.75.

Life Insurance Corporation shareholding in Power Finance Corporation Ltd decrease from 5.069% to 3.069% of the paid-up capital of the said company. LICI stock inches up by 0.43% on the NSE, trading at ₹644.

Kalyan Jewellers India Limited has announced its expansion plan for August across India with 11 new showrooms. The stock rises by 1.75% on the NSE, trading at ₹171.20.

Minister of State for Steel, Faggan Singh Kulaste, while addressing an industry event in Delhi on 28-29 July 2023, said there is a need to work on enhancing per capita steel consumption in the country to reach the global level of 222 kg/capita from the present 86.7 kg/capita.

The output generated from India’s real estate sector is estimated to grow to USD 1 trn by 2030 from the existing USD 650 bn.

The growth push to the real estate sector is mostly emerging from the residential demand, in addition to commercial, retail, hospitality, and warehousing developments, to cater to demand arising from the growing population.

Between 2012 and 2022, 2.8 mn residential units have been launched across the top 8 cities5 in India, translating into 3.1 bn sq ft of residential real estate development.

Additionally, there is a stock of 880 mn sq ft of Grade A office development and 106 mn sq ft of retail real estate inclusive of shopping malls and high streets across the top 8 cities in India.

Business sentiments and conducive policy measures undertaken by the policy makers in the last few years have boosted the investment sentiments of both domestic as well as international investors towards the construction sector in India. Between FY21 & FY22, India’s construction sector has attracted a cumulative FDI inflow of USD 35 bn.

India’s leading alternate asset manager - Kotak Investment Advisors Limited (KIAL), today announced its new identity to Kotak Alternate Asset Managers Limited (KAAML). This change reflects the company’s continued commitment to build and operate best in class investment and strong governance led alternate investment firm.

Over the last 17 years, we have built a product suite spanning Private Equity, Real Estate, Private Credit, Strategic Situations, Data Centers, Infrastructure and Investment Advisory.

Mahindra & Mahindra has informed the exchanges that Subscription Agreement between the Company, Jongsong Investments Pte Ltd (Temasek) and Mahindra Electric Automobile Limited, a wholly owned subsidiary of the Company (MEAL); and Shareholders Agreement between the Company, British International Investment Plc (BII), Temasek and MEAL setting out terms and conditions of the Proposed Investment of Rs. 1,200 Crores by Temasek in MEAL, at a valuation of upto Rs. 80,580 crore

Ministry of Coal Transfers Rs 704 crores upfront amount received from Coal Mine Auctions to State Governments, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha and West Bengal benefitted. Next three Instalments to be given directly to States by Bidders

MRF reported its consolidated net profit for the quarter ended June 30, 2023, at ₹588.75 crore as against ₹123.60 crore in the previous year.

The stock rises by 2.78% on the NSE, trading at ₹1,05,442.20.

ICRA reported its consolidated net profit for the quarter ended June 30, 2023, at ₹40.62 crore as against ₹21.64 crore in the previous year.

The stock inches up by 0.99% on the NSE, trading at ₹5,750.

Cera Sanitaryware: Company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹56.70 crore as against ₹39.86 crore in the previous year. The stock declines by 0.76% on the NSE, trading at ₹7,685.30.

Apollo Tyres on Wednesday said that uncertainties continue to pose a challenge, especially in Europe as there are no signs of any respite in conflict there, but it added the company was still bullish in the region.

“I see the uncertainties continue to pose a challenge, especially in Europe as we see no signs of any respite in the conflict there. Yet I remain bullish about the future of Apollo Tyres. In Europe, our strategy along with the best-in-class product mix has, time and again, helped us to gain market share. India is once again on a growth trajectory and your company will certainly benefit,” Onkar Kanwar, Chairman, Apollo Tyres, said at the company’s 50 ^th annual general meeting (AGM).

Aptus Value Housing Finance Ltd’s profit increased 19 per cent at Rs 142.25 crore for the quarter ended June 30, 2023, compared to Rs 118.83 crore in the corresponding quarter last year. Revenues were up 98 per cent at Rs 296.80 crore, compared to Rs 233 crore last year. Sequentially, profits were higher by 5 per cent, compared to Rs 135.19 crore in the previous quarter.

Akzo Nobel India: Stock climbs 4.24% on the NSE, trading at ₹2,898.95. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹109.90 crore as against ₹76.9 crore in the previous year.

Quess Corp, a provider of business services, posted a 29 per cent decline in net profit for the June quarter at Rs 48 crore, in contrast to Rs 68 crore in the corresponding quarter of the previous year.

Total revenues grew 16 per cent year-on-year, hitting Rs 4,600 crore, as compared to Rs 3,979 crore in June 2022.

Sterlite Technologies has bagged ₹250 crore deal for building and maintaining data centres for a public sector entity. The company’s stock rises by 1.06% on the NSE, trading at ₹148.10.

Zydus Wellness: The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹110.40 crore as against ₹137 crore in the previous year.

The stock declines by 1.33% on the NSE, trading at ₹1,456.05.

SBFC Finance IPO has been subscribed 0.57 times as of 12:03 pm on August 3, 2023. The NII portion has been subscribed 0.77 times, retail 0.81 times, and those reserved for employees stood at 0.53 times.

Surana Solar stock falls by 3.32% on the NSE, trading at ₹26.20. The company reported its net profit for the quarter ended June 30, 2023, at ₹24.38 lakh as against ₹1.90 crore in the previous year.

Major gainers: Sun Pharma (2.04%); Divi’s Laboratories (1.80%); NTPC (1.77%); Eicher Motors (1.30%); ONGC (1.30%)

Major losers: HDFC Life Insurance (-1.56%); Titan (-1.45%); Hindalco (-1.44%); Ultratech (-1.36%); Hindalco (-1.22%)

Stocks advanced on BSE at 12 noon on August 3 were 1,864 against 1,490 stocks that declined. Total stocks traded were 3,529. The number of stocks that recorded a 52-week high 146, and those that hit a 52-week low was 24.

Caplin Point Laboratories informed the exchange that the board of Caplin Steriles Limited, a material subsidiary, had approved the incorporation of a wholly owned subsidiary in the US. The stock climbs 2.25% on the NSE, trading at ₹933.25.

Patwardhan, a B.Tech graduate from IIT Bombay, a PGDM from IIM Lucknow, and a CFA charter holder from the CFA Institute, brings with him over 28 years of extensive experience covering the entire gamut of research and portfolio management in Indian equities. His illustrious career, spanning almost three decades, is punctuated with numerous awards and recognitions, demonstrating his unique prowess and dedication to the field.

LT Foods company LT Foods has announced the inauguration of a new facility of its organic business arm, Nature Bio Foods in Uganda, Africa. However, the stock declines by 2.05% on the NSE, trading at ₹176.50.

Adani Ports and Special Economic Zone stock rises by 1.16% on the NSE, trading at ₹770.30. In July, 2023, APSEZ recorded bumper cargo volumes of 34 MMT, a 7% jump y-o-y. The company said exchanges that it observed growth across most ports, with containers (+23%) and liquids & gas (+27%) driving these volumes increase.

Bharat Dynamics Limited stock inches up by 0.51% on the NSE, trading at ₹1,195. The company had handed over the first Radio Frequency (RF) Seeker of Akash - Next Generation Weapon System produced at its newly commissioned Seeker Facility Centre to DRDO.

Dilip Buildcon informed the exchanges that the project of Dodaballapur Bypass to Hoskote section of NH-648 (Old NH207) on Hybrid Annuity Mode under Bharatmala Pariyojna in the state of Karnataka has been provisionally completed.

DBL stock inches up by 0.60% on the NSE, trading at ₹319.90.

Gateway distriparks announced its Q1FY24 results on August 2,2023. The revenue of the company for June 2023 quarter rose 7.95 % YoY to ₹374.85 crore whereas EBITDA grew 10.66 % for the same period to ₹100.55 crore. The Net profit of the company during Q1FY24 was ₹63.72 crore which is 9.02 % higher YoY.

Sarveshwar Foods stock jumps 8.43% on the NSE, trading at ₹121.55. The company’s board had approved the sub-division/split of company’s one equity share face valued at ₹10 each into 10 equity shares of the company having a face value of ₹1 each, subject to the approval of shareholders to be obtained in the ensuing extra-ordinary general meeting.

• Aavas Financiers
• Accedere
• Adani Enterprises
• Adani Power
• Akzo India
• Ador Fintech
• Andhra Paper
• Auto Axles
• Avadh Sugar
• Bannari Amman Sugars
• Bharti Airtel
• Blue Star
• Bodh Tree
• Cera Sanitaryware
• Clean Science Tech
• Cummins India
• Dabur India
• DCX India
• Deepak Nitrite
• Eicher Motors
• Enkei Wheels
• FGP
• Ganesha Ecosphere
• Great Eastern Shipping
• Gulf Oil
• Haldyn Glass
• HCC
• ICRA
• JM Financial
• KEC International
• Karnataka Bank
• LIC Housing Finance
• Lupin
• Mahanagar Gas
• Minda Corporation
• MRF
• Navneet Education
• Neuland Lab
• Nilkamal
• Orient Ceramics
• Piramal Pharma
• Radico Khaitan
• Sun Pharmaceutical
• Texmaco Rail
• Tiger Logistics
• Tube Investments of India
• Varun Beverages
• Venus Pipes
• Xchanging
• Zomato

CTSH delivered a good 2QCY23—revenues were at the upper end of the guidance range and bookings grew 17% yoy. It has reiterated the CY2023 revenue growth outlook of flat revenues at the mid-point of the guidance range. Bookings growth was powered by multiple large deals that included renewals as well as net new deals. Read through—other IT companies have gained at CTSH’s expense. T

his easy tap of growth seems to be stalling as CTSH defends its wallet share. Further, from a situation of no participation, CTSH has now started winning a few large deals.

Total bookings in the quarter stood at US$26.4 bn on a ttm basis, up 3.1% qoq and 17% yoy. Total bookings included 5 large deals above US$100 mn each in TCV, up from 4 in 1QCY23. It signed 2 renewals, 1 renewal + scope expansion and 2 net-new large deals in the quarter. Note that CTSH did not have meaningful participation in large deals under the earlier CEO.

While bookings trends are strong, they do have significantly longer tenures, implying muted ACV trends. Smaller high-velocity deals of U$5 mn or below is down yoy. In fact, management highlighted that booking contribution to revenues in 2HCY23 is lower than the comparable period last year, indicating continued pressure on discretionary spending.

Tata Consultancy Services (TCS) is now offering its TCS Neural Manufacturing suite of solutions on the newly launched Microsoft Cloud for Manufacturing to help manufacturers accelerate their growth and transformation.

However, the stock slides by 0.98% on the NSE, trading at ₹3,407.

SBFC Finance IPO has been subscribed 0.25 times as of 10:42 am on August 3, 2023. The NII portion has been subscribed 0.32 times, retail 0.40 times, and those reserved for employees stood at 0.28 times.

• Paddy sowing witnessed a gain of 9.77% with 236.644 thousand hectares as against 215.59 thousand hectares on the same day last year.
• Maize sowing witnessed a gain of 0.64% with 941.392 thousand hectares as against 935.44 thousand hectares on the same day last year.
• Moong sowing witnessed a gain of 7.41% with 2153.334 thousand hectares as against 2004.81 thousand hectares on the same day last year.
• Groundnut sowing witnessed a gain of 7.74% with 844.498 thousand hectares as against 783.8 thousand hectares on the same day last year.
• Soyabean sowing witnessed a gain of 0.92% with 1143.197 thousand hectares as against 1132.75 thousand hectares on the same day last year.
• Castor sowing witnessed a gain of 20.30% with 136.546 thousand hectares as against 113.5 thousand hectares on the same day last year.
• Cotton sowing witnessed a gain of 21.85% with 788.227 thousand hectares as against 646.9 thousand hectares on the same day last year.
• Guar sowing witnessed a fall of -14.18% with 2532.223 thousand hectares as against 2950.52 thousand hectares on the same day last year.

IndusInd Bank and Tiger Fintech - a BajajCapital Group company, today announced the launch of the IndusInd Bank Tiger Credit Card, a co-branded credit card powered by Visa. With this launch, customers will get access to best-in-class creditcard to meet their lifestyle needs.

Zydus Lifesciences Limited has received final approval from USFDA to manufacture and market Indomethacin suppositories, 50mg. The stock rises by 2.72% on the NSE, trading at ₹645.70.

The rupee depreciated 5 paise to 82.72 against the US dollar in early trade on Thursday as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments.

Sustained foreign fund outflows, strength of the American currency in the overseas market further dented sentiments, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.71, then touched 82.72, registering a decline of 5 paise over its last close.

On Wednesday, the rupee had settled at 82.67 against the dollar, registering a fall of 45 paise from its previous close.

Crude oil futures traded marginally higher on Thursday morning as the data from the US EIA (Energy Information Administration) confirmed a massive decline in the crude oil inventories in the top consumer nation.

At 9.53 am on Thursday, October Brent oil futures were at $83.25, up by 0.06 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $79.53, up by 0.05 per cent.

August crude oil futures were trading at ₹6,577 on Multi Commodity Exchange (MCX) during initial trading against the previous close of ₹6,556, up by 0.32 per cent, and September futures were trading at ₹6,555 as against the previous close of ₹6,533, up by 0.34 per cent.

Bank Nifty index opened today’s session with a gap-down at 44,863 versus yesterday’s close of 44,995. It is currently trading at around 44,925, down by 0.15 per cent so far today.

The bearish inclination is substantiated by the advance/decline ratio of the index, which stands at 4/8. AU Small Finance Bank is the top gainer, up by 0.36 per cent whereas ICICI Bank, down by 0.7 per cent, is the weakest stock in the index so far today.

Nifty PSU Bank is up 0.3 per cent; whereas Nifty Private Bank is trading flat.

IndiGo is to enhance salaries of its 4,500-plus pilots after posting a record net profit of Rs 3,090 crore in the first quarter of FY2024. The revised salary will come into effect from October.

IndiGo.

Sensex and Nifty began the trade on a weak note on Thursday, continuing to fall for the third day running, in tandem with a bearish trend in global markets and continuous foreign fund outflows.

The 30-share BSE Sensex fell 299.99 points to 65,482.79. The NSE Nifty declined 87.5 points to 19,439.05.

Insecticides (India) Limited has acquired the industrial site spanning approximately 58,000 square meters, located within the Industrial Area of Sotanala, Alwar, Rajasthan. The primary intention behind this acquisition is to establish a state-of-the-art manufacturing facility for the Company. This would pave the way for the Company’s organic growth. The new manufacturing facility holds significant promise in terms of augmenting company’s operational capacities and enhancing its production capabilities.

The stock of Vedanta Ltd falls by 6.74% on the NSE, trading at ₹253.80. The stock remains in focus on reports that Twin Star Holdings is likely to sell a 4.3 per cent stake via a block trade, seeking at least ₹4,136 crore.

Ex-Dividend 04 August 2023 (Tomorrow)

Last date for Cum-Dividend Today

Aditya Birla Sun Life AMC Ltd

Dividend Per Share Rs.5.25

Previous day Closing Price – Rs. 408.65

Ador Fontech Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 126.55

Advanced Enzyme Technologies Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 332.65

Ajanta Pharma Ltd.

Dividend Per Share Rs.10

Special Dividend Per Share Rs.15

Previous day Closing Price – Rs. 1683.25

Ajmera Realty & Infra India Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 400.65

Andhra Paper Ltd

Dividend Per Share Rs.12.5

Previous day Closing Price – Rs. 430.95

Apar Industries Ltd.

Dividend Per Share Rs.40

Previous day Closing Price – Rs. 3621.1

Astral Ltd

Dividend Per Share Rs.2.25

Previous day Closing Price – Rs. 1981.95

Bayer Crop science Ltd.

Dividend Per Share Rs.30

Previous day Closing Price – Rs. 4582.25

Berger Paints India Ltd.

Dividend Per Share Rs.3.2

Previous day Closing Price – Rs. 711.75

Chennai Petroleum Corporation Ltd.

Dividend Per Share Rs.27

Previous day Closing Price – Rs. 414.8

Cheviot Co. Ltd

Dividend Per Share Rs.27

Previous day Closing Price – Rs. 1250.95

Dalmia Bharat Sugar And Industries Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 365.7

Dolfin Rubbers Ltd

Dividend Per Share Rs.1.2

Previous day Closing Price – Rs. 126.5

Emmbi Industries Ltd

Dividend Per Share Rs.0.3

Previous day Closing Price – Rs. 89.1

EPL Ltd

Dividend Per Share Rs.2.15

Previous day Closing Price – Rs. 221.5

Golkunda Diamonds & Jewellery Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 106.15

Grauer & Weil (India) Ltd

Dividend Per Share Rs.0.8

Previous day Closing Price – Rs. 113.35

Grindwell Norton Ltd

Dividend Per Share Rs.14.5

Previous day Closing Price – Rs. 2351.45

Hercules Hoists Ltd.

Special Dividend Per Share Rs.1

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 329.05

IP Rings Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 138.65

JTL Industries Ltd

Dividend Per Share Rs.0.2

Previous day Closing Price – Rs. 384.5

Kirloskar Oil Engines Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 168.5

Kirloskar Industries Ltd

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 438.85

Mindteck (India) Ltd.

Dividend Per Share Rs.11

Previous day Closing Price – Rs. 3492.4

Munjal Showa Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 125.2

Munjal Showa Ltd.

Dividend Per Share Rs.4.5

Previous day Closing Price – Rs. 144.4

Prima Plastics Ltd.

Dividend Per Share Rs.0.02

Previous day Closing Price – Rs. 6.53

Raminfo Limited

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 170.75

Route Mobile Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 102.9

Sanghvi Movers Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 1499.3

Strides Pharma Science Ltd

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 617.4

Sudarshan Chemical Industries Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 446.3

Symphony Limited

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 501.55

Timken India Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 870.05

Tips Industries Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 289.3

Uflex Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 289.3

Vishnu Chemicals Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 426.75

VST Industries Ltd.

Dividend Per Share Rs.0.4

Previous day Closing Price – Rs. 361.1

Wim Plast Ltd

Dividend Per Share Rs.150

Previous day Closing Price – Rs. 3810.8

Wim Plast Ltd

Dividend Per Share Rs.8.5

Previous day Closing Price – Rs. 525.05

Companies that produce pan masala, gutkha, chewing tobacco, and menthol oil will be prohibited from receiving an automated refund of the Integrated Goods and Services Tax.

This is following a suggestion from the GST Council to stop these entities from evading taxes and the Central Board of Indirect Taxes & Custom has taken this action.

Suggested by a group of ministers, led by the finance minister of Odisha, it was adopted at the Council meeting on July 11.

The restriction will be applied to 25 different products, including pan-masala, unprocessed tobacco, such as “Hookah” or “gudaku” tobacco, smoking mixtures for pipes and cigarettes, filter khaini, pan masala containing tobacco, and other tobacco products, according to the CBIC’s notification.

The appropriate official of the jurisdictional tax authority would still be able to authorise tax refunds for these exports in the normal course of business.

​​Amrutanjan Healthcare​​, which initiated forensic audit by Deloitte on a whistleblower complaint, has said few acts of personal gains by its employees were found including kickbacks from marketing vendors, leakage of confidential information, and malpractices in casual labour onboarding. The company, however, said, the findings do not have any substantial impact on its financial statements as the amounts involved are negligible.

Major gainers: Sun Pharma (2.03%); NTPC (1.53%); Bajaj Auto (1.15%); Adani Enterprises (1.04%); Dr Reddy’s (0.98%)

Major losers: Hindalco (-1.25%); Ultratech (-1.16%); UPL (-1.13%); Titan (-1.05%); Hindustan Unilever (-1.01%)

SARDA ENERGY & MINERALS LTD

Stock Split From Rs.10/- to Rs.1/-

Previous day Closing Price – Rs. 1884.40

Ex - Stock Split 04 August (Tomorrow)

Last day trade for before split Today

The Rs 1,025-crore initial public offering of SBFC Finance opens today. The offer will close on August 7. The NBFC is planning to raise Rs 1,025 crore via a public issue, which comprising a fresh issuance of shares worth Rs 600 crore, and an offer-for-sale (OFS) of Rs 425 crore by the promoters.

The price band for the offer has been set at Rs 54-57

Crude oil futures traded marginally higher on Thursday morning as the data by the US EIA (Energy Information Administration) confirmed a massive decline in the crude oil inventories in that country. At 9.17 am on Thursday, October Brent oil futures were at $83.28, up by 0.10 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $79.55, up by 0.08 per cent.

Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, today announced the acquisition of Sanghi Industries Ltd (SIL) at an enterprise value of Rs 5,000 crore.

ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals.

Bharat Dynamics Limited (BDL) has handed over the first Radio Frequency (RF) Seeker of Akash - Next Generation Weapon System produced at its newly commissioned Seeker Facility Centre to Defence Research and Development Organisation (DRDO). Seeker is a critical and technology intensive subsystem used in Surface-to-Air Missiles and Air-to-Air Missiles for target tracking in the terminal phase.

Gaming companies stocks such as ​Delta Corp​, ​Nazara Technologies​ and may come under pressure, as the GST Council meet on Wednesday did not give any relief on the proposed GST.

L&T Financial Holdings will remain in focus amid reports that Bain Capital plans to sell 7.9 crore shares of the company in block deal. The floor price has set at Rs 128.10, against Wednesday’s closing price of Rs 129.75.

Vedanta Ltd will be in focus on reports that Twin Star Holdings is likely to sell a 4.3 per cent stake via a block trade, seeking at least Rs 4,136 crore. The shareholder may sell 16 crore shares at a floor price of Rs 258.5 apiece, representing a discount of 5 per cent on Wednesday’s closing price, the reports added.

• GS on Sapphire Foods: Maintain Buy on Company, target price at Rs 1800/sh

• Macquarie on Mankind Pharma: Maintain Outperform on Company, target price at Rs 1450/sh

• Jefferies on PI Ind: Maintain Buy on Company, target price at Rs 4220/sh

• Jefferies on Godrej Prop: Maintain Buy on Company, target price at Rs 2050/sh

• Nomura on HPCL: Maintain Neutral on Company, cut target price at Rs 270/sh

• Jefferies on HPCL: Maintain Underperform on Company, raise target price at Rs 225/sh

• MS on Indigo: Maintain Overweight on Company, cut target price at Rs 2600/sh

• Jefferies on Indigo: Maintain Underperform on Company, target price at Rs 2070/sh

• HSBC on Titan: Maintain Buy on Company, target price at Rs 3580/sh

• Jefferies on Titan: Maintain Neutral on Company, target price at Rs 2650/sh

• MS on Titan: Maintain Equal weight on Company, target price at Rs 3190/sh

• MS on Tata Chem: Maintain Equal weight on Company, target price at Rs 916/sh

• HSBC on Escorts: Maintain Neutral on Company, target price at Rs 2400/sh

• CLSA on Ambuja: Maintain Sell on Company, target price at Rs 395/sh

• JP Morgan on Adani Wilmar: Maintain Underweight on Company, target price at Rs 360/sh
• MS on M&M Fin: Maintain Equal weight on Company, target price at Rs 300/sh

Vedanta, L&T Finance Holdings, Airtel, Zomato, Ether Motors, Adani Enterprises, Adani Power, Nazara Tech, Delta Corp, JSW Steel, Nykaa, M&M Financial, Clean Science, Dabur, GE Shipping, HCC, ICRA, Karnataka Bank, KEC Intl, LIC Housing, Sun Pharma, Piramal Pharma, Radio Khaitan, Tube Investments, Bharat Dynamics, Supriya Lifesciences.

Read more.

Reliance Infra and Reliance Power have called for a board meeting on August 5 for the issue of shares/warrants convertible into equity shares or by way of preferential shares.

The domestic markets are expected to open with a downward bias on Thursday as well, amid the aftershocks from Fitch’s US rating downgrade. However, analysts expect the market to settle in the later half of the day, and may attempt a recovery. Gift Nifty at 19,520 indicates a gap-down opening of about 75 points. Asian stocks were down in early trade on Thursday, tracking a sharp slide in US stocks overnight. However, US futures are up moderately in early deals on Thursday, giving a mixed signal.

Cognizant reported a 20 per cent drop in net profit to $463 million for the second quarter ended June 30, 2023, as against $577 million in the corresponding quarter last year. Revenue was $4.9 billion, a decline of 0.4 per cent year-over-year (y-o-y).

During the second quarter, there were restructuring charges of $111 million.

The company saw a decline in revenue from financial services and communication, media, and technology but an increase in healthcare and products & resources verticals.

GNFC

HINDCOPPER

IBULHSGFIN

PEL

Unichem Laboratories Ltd: post receipt of approval of Competition Commission of India (CCI), Dr. Prakash A. Mody, Promoter of the Company, has today sold 2,35,01,440 fully paid-up equity shares of Rs. 2 each, constituting about 33.38% of the paid up equity share capital of the Company to Ipca Laboratories Limited (Acquirer) at a price @ Rs. 402.25 per equity share aggregating to Rs. 945.35 Crores. This deal was executed through block deal mechanism of National Stock Exchange of India Limited (NSE).

Power And Instrumentation (Gujarat) Limited : Board informed that they are in receipt of Letter of Award (LOA) from M.P. POORV KSHETRA VIDYUT VITARAN CO. LTD. for Supply, Installation, Testing and Commissioning of New 11 KV Lines, LT Line on AB cable, Distribution Transformer ubstation and supporting works such as DPs, TPs, Crossing etc. for separation of 11 KV Mix Feeders & Mix DTRs under Revamped Reforms-based and Results-linked Distribution Sector (Package-13) in Sagar Circle of MPPKVVCL, Jabalpur Company Area. the said Letter of Awards (LOA) are issued to our company in Joint Venture (J.V.) with M/s. Sakar Engitech Private Limited. Award value is Rs. 113,65,28,610/-

Thomas Cook (India) Ltd: Company announced the opening of its new resort in Vythiri, Wayanad. This is Sterling’s 2nd resort in the bustling tourist destination of Wayanad, adding to its existing resort at Sultan Bathery. With this, Sterling’s portfolio in God’s own country extends to seven.

Gujarat Gas Ltd: Board approved Equity Investment of Rs 100 Crores (10 Crore Equity Shares ofRs 10/- each) in equity shares of GSPC LNG Limited for 7.87 % equity share.GSPC LNG Limited (GLL) is engaged in the business of LNG receiving, storage and re-gasification.

Vardhman Special Steels Limited: Company has approved Capex amounting to Rs. 160 crores (approx.) towards increasing capacity of Rolling Mill Capacity to add 50000 TPA with in 31 march 2025.

Asian Granito India Limited: Company has acquired 91,50,000 equity shares which amounts to 61% total equity share capital of ‘Gresart Ceramica Private Limited’, Step-down Subsidiary of the Company from Amazoone Ceramics Limited which is a Material Subsidiary of the Company. For consolidation of Tiles Business in Target Company.