Stock Market Highlights, July 1: Mid, SmallCap indices hit record highs; Sensex gains 443 pts

Stock market Highlights on Monday, July 1, 2024: Tech M, Bajaj Finance, Ultratech Cement, TCS, Infosys, JSW Steel, HUL, HDFC Bank, Tata Motors, ITC, ICICI Bank, Titan were the top gainers today

10:56 AM

Cochin Shipyard rallies over 4% after unit bags order worth Rs 1,100 crore

This follows a previous contract awarded in June last year for the design and construction of six 3800 TDW dry cargo vessels, which is currently in advanced stages of construction at the Udupi yard in Karnataka. READ MORE

10:45 AM

ALERT :: Alembic Pharmaceuticals receives USFDA tentative approval for Bosutinib Tablets

>> Bosutinib tablets are indicated for the treatment of a certain type of leukemia called Philadelphia chromosome-positive chronic myelogenous leukemia

>> Bosutinib Tablets, 100 mg and 500 mg have an estimated market size of $275 million for twelve months ending March 2024 according to IQVIA.

10:33 AM

ALERT :: HSBC India June Manufacturing PMI rises to 58.3 vs 57.5 in May

10:24 AM

Health insurer Niva Bupa files IPO papers to raise up to Rs 3,000 crore

The company, majority owned by British United Provident Fund (Bupa), said it will issue fresh shares worth up to Rs 8 crore as part of the offering. READ MORE

10:10 AM

Nomura raises Bharti Airtel target price post tariff hike, sees 14% upside

That said, international brokerage firm Nomura analysts remain optimistic, projecting a 14.3 per cent upside in Bharti Airtel's stock, and reiterating a 'Buy' recommendation with a revised target price of Rs 1,650, up from Rs 1,550. READ MORE

9:57 AM

Escorts Kubota June sales down 2.6% YoY

9:54 AM

Transformers and Rectifiers hits 5% upper circuit on multiple order wins worth Rs 148.55 crore

Check order detail here

9:48 AM

Garden Reach sprints nearly 9% on MoU with Bangladesh Govt; m-cap tops Rs 26,000

>> The company has signed Contract for Construction of an Advanced Ocean-Going Tug for Government of the People's Republic of Bangladesh.

>> Cost of the project is approximately $21 million
 

9:45 AM

Tanvi Foods soars 18% on USFDA nod for selling ready-to-eat snacks

>> Tanvi Foods (India) has received food facility approval from the US Food & Drug Administration (USFDA) for manufacturing its ready to cook, frozen snacks and other food items from its new manufacturing unit at Seetharampuram, Andhra Pradesh. The said registration is valid up to December 31, 2024.

>> This approval shall enable the company to export products under its own brand name with better margins, facilitate exporting its products in many other countries including the United Kingdom, Middle East, and African countries and will also enhance the credibility of the products in the domestic market.
 

9:43 AM

NTPC drops 2% despite fund raise plan of Rs 12,000 crore

>> The Board of National Thermal Power Corporation Limited has approved raising up to Rs 12,000 crore through the issue of bonds or Non-convertible debentures (NCDs).

9:39 AM

Tata Consumer trades lower on tax demand notice

>> The Tata Group company has received an income tax demand of Rs 171.83 crore for the assessment year 2019-20.

>> Tata Consumer Products, however, said the demand is not maintainable and it is in the process of preferring an appeal and rectification against the said order.
 

9:37 AM

Bajaj Auto up 1% as June sales rise 5% YoY

9:35 AM

Davangere Sugar up over 2.5% on plans to expand Ethanol production

>> The company aims to maximise Ethanol production during FY25. For this, Davangere Sugar Company Limited plans to produce Ethanol primarily from maize and other damaged grains until the crushing season begins in October 2024. To maximise Ethanol production, the company also aims to procure larger quantities of maize from various regions across the country.

9:34 AM

Cochin Shipyard arm signs contract with Wilson ASA; stock up nearly 4%

>> Udupi Cochin Shipyard Ltd., a wholly-owned subsidiary of the company, has signed a contract with Wilson ASA, Norway, for the design and construction of four 6,300 TDW Dry Cargo Vessels.

>> Besides, Cochin Shipyard has also been signed for four additional vessels of the same kind. The overall cost of the eight vessels is said to be Rs 1,100 crore and Cochin Shipyard plans to execute this order by September 2028.
 

9:32 AM

GRP zooms 16% on bonus issue plan, hits Rs 15,000-mark

>> The Board of Directors of the company has approved issue of bonus shares in the ratio of 3:1 i.e. three new fully paid-up equity shares for every one existing fully paid-up equity share.