RIL shines in lacklustre trade; Sensex ends 64 pts up; broader indices slip

CLOSING BELL ON JULY 10, 2023: Reliance alone contributed 302 points to the BSE Sensex as the stock finished 3.8 per cent higher. The NSE Nifty 50 was up 24 points at 19,356 on Monday.

12:55 PM

Go Airlines invites Expression of Interest for possible sale of carrier

A resolution professional appointed to oversee the insolvency process for Go Airlines (India) Ltd has invited Expression of Interest for the sale of the carrier as part of the process, a newspaper advertisement showed on Monday. READ MORE

12:45 PM

Mahindra & Mahindra to raise Rs 5,000 crore for its EV business: Report

If the deal goes through, it will be BII's second round of investment in India's biggest sports utility vehicle maker by revenue. Its earlier fund infusion was done at a valuation of Rs 70,070 crore. The new deal is expected to value the company at 10-15 per cent more than that. READ MORE

12:35 PM

ALERT :: Gallantt Ispat surges 4.5%; enters into agreement with East Coast Railway to buy, own Railway Wagons

12:24 PM

Olectra Greentech zooms 43% in 3 days

Olectra Greentech, on Friday, July 7, announced that consortium of Olectra Greentech and Evey Trans Private Limited has received a Letter of Intent (LOI) from MSRTC relating to supply, operation and maintenance of 5,150 electric buses and allied electrical and civil infrastructure on gross cost contract basis. READ MORE

12:12 PM

ALERT :: Easy Trip Planners enters into a General Sales Agreement with SpiceJet Airlines

>> This GSA agreement will commence from 1st August 2023. Under this arrangement, EaseMyTrip will be responsible for selling and promoting the products and services offered by SpiceJet in India that will help customers to avail the services of SpiceJet

12:02 PM

SAT refuses relief to Zee promoters, asks them file response to Sebi

A SAT bench headed by Justice Tarun Agarwala said that there was no urgency to stay the order. The tribunal directed the Zee promoters to file their response to Sebi within two weeks. READ MORE

11:49 AM

Banks, consumer cos to brighten earnings in India amid IT uncertainties

India’s banks have largely remained insulated from a global crisis in the industry with their heavy reliance on local markets. Meanwhile, the nation’s consumer and capital goods companies are expected to benefit from commodity prices that have come off peaks seen after Russia’s invasion of Ukraine. READ MORE

11:39 AM

RIL eyes new all-time high, Golden Cross breakout aims at Rs 3,000

The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness. READ MORE

11:28 AM

Crude oil eases ahead of China, US data, but OPEC+ cuts limits slide

Brent crude futures fell 22 cents, or 0.3%, to $78.25 a barrel by 0107 GMT, and U.S. West Texas Intermediate crude was at $73.57 a barrel, down 29 cents, or 0.4%. READ

11:17 AM

Utkarsh SFB, NSDL: IPO market revival still some time away, say analysts

It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs – IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. READ

11:03 AM

VIEW: Closing above Rs 2,755 can push Reliance to Rs 2,850-2,900 zone

Reliance has been gaining momentum and witnessed a strong and consistent upside in the last few weeks. It has been one of the strongest largecap stocks with constant formations of higher highs and higher lows on the daily charts. The stock has witnessed a breakout from 1-year ascending channel on the daily charts and is currently trading near previous swing high level of 2755.

The rsi has also seen a breakout above 72 levels, which can push the stock price higher. A close above 2755 can push it towards 2850-2900 zone. Fresh entry is advised at channel breakout retest level of 2665 for an upside till 2900 levels. Those who have already bought can hold the stock with stoploss trailed at 2660.

 

Views by Gaurav Bissa, VP, InCred Equities

10:54 AM

Cyient DLM makes strong debut; stock lists at 52% premium over issue price

The Initial Public Offer (IPO) of electronic manufacturing services (EMS) firm had received an overwhelming response from investors, with the issue subscribed up to 71.35 times. The quota for Qualified Institutional Buyers (QIBs) received 95.87 times subscription while the category for Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs) was subscribed 52.17 times and 47.75 times, respectively. READ

10:45 AM

ALERT: L&T concludes transition of $150 mn loan with BofA into a Sustainability Linked Loan

10:28 AM

RIL up 4%; fixes July 20 record date for share allocation to Jio Financial

Under the arrangement, shareholders of RIL will get one share each of Reliance Strategic Investment (RSIL) for every one share held in RIL as of the record date. READ MORE

10:20 AM

Rupee to climb after dollar's fall on weaker than expected US jobs data

Non-deliverable forwards indicate the rupee will open at around 82.60-82.62 to the U.S. dollar, compared with 82.74 in the previous session. READ MORE