Stock Market Highlights, July 11: Mid, small-caps outshine Sensex, Nifty; Oil, shipping stocks soar

Stock Market Highlights on Thursday, July 11, 2024: The BSE Sensex ended at session 27 points lower at 79,897, while the Nifty50 closed at 24,316, down 8.5 points

2:24 PM

Indegene inks pact with Microsoft to scale Gen AI adoption: stock jumps 5%

Indegene and Microsoft have committed to developing resources in specialised and skilled medical and technology tools to co-innovate generative AI services and workflows. READ MORE

2:10 PM

ALERT:: Oil India sees sharp spike, surges 10%

1:53 PM

Ahluwalia Contracts stock up 8% on Rs 893 cr-order win; rises 69% in 6 mths

The surge in share price came after the company announced that it has secured an order worth Rs 893.48 crore from Airport Authority of India (AAI). READ MORE

1:41 PM

New NFOs drive record inflows in sectoral mutual funds: Should you invest?

Retail investor interest in Indian mutual funds continues to surge, with a significant portion of new investments flowing into thematic and sectoral funds.  Data released by the Association of Mutual Funds in India (AMFI) for June 2024 reveals that these categories attracted over half (50%) of the total inflows into equity-oriented schemes, amounting to Rs 22,351 crore.  READ MORE

1:29 PM

Reliance Jio could list at $112bn valuation, 15% upside in RIL: Jefferies

Jefferies report on Reliance Jio listing: Assuming Jio is spun off from Reliance Industries' stable, the fair value for RIL stock would be Rs 3,580, Jefferies said. READ MORE

1:18 PM

Budget 2024: India's space sector eyes strategic allocations and incentives

Union Budget 2024: The space sector in India is expected to reach $44 billion by 2033. Industry leaders call for incentives to push private sector growth. READ MORE

1:08 PM

Asian Market Update:: Hang Seng rallies nearly 2%; Nikkei, Shanghai gain 1%

1:01 PM

Bayer Corp, Ashiana Housing record up to 50-fold jump in volume on July 11

Bayer Corp, Ashiana Housing, India Grid Trust, KCP Sugar and SCI among 9 stocks to log over 10-fold jump in daily trading volumes on the BSE on Thursday. READ MORE

12:48 PM

Tata Elxsi falls 3% as analysts caution on high valuation, near term risks

According to analysts, Tata Elxsi's revenue growth was led by ramp-up of deals in the transportation vertical but was offset by softness in the media and communication. READ MORE

12:39 PM

Foreign currency account usage widens at GIFT City, boosts biz prospects

Indians have been allowed wider usage of foreign currency accounts at the Gujarat International Finance Tec-City, or GIFT City, boosting business prospects for a finance hub pushed by Prime Minister Narendra Modi. READ MORE

12:24 PM

RVNL surpass BPCL, PNB in market cap ranking; stock zooms 54% in 1 week

Rail Vikas Nigam Limited (RVNL) has surpassed public sector undertaking (PSU) oil marketing company, Bharat Petroleum Corporation (BPCL) and lender, Punjab National Bank (PNB), in market capitalisation (market cap) ranking as stock of the state-owned civil construction company continued its upward movement on strong order inflows from railways. READ MORE

12:10 PM

Income tax rate cut, sops for PSUs: Brokerage expectations from Modi 3.0 budget

The next fortnight will be a volatile phase for the Indian stock markets as they prepare and then digest finance minister Nirmala Sitharaman’s budget proposals for fiscal 2024-25 (FY25). READ MORE

11:57 AM

KCP Sugar stock zooms 17% on strong June quarter results; profit jumps 76%

Shares of KCP Sugar zoomed as much as 16.61 per cent to hit an intraday high of Rs 52.99 per share on Thursday, July 11. The uptick in share price came after the company reported a strong set of June quarter results (Q1FY25). READ MORE

11:46 AM

Satin Creditcare up 4% on securing 15 million euro debt funding from OeEB

This transaction marks Satin Creditcare's third partnership with OeEB, building on successful collaborations in 2019 and 2021, which together raised a total of $20 million. READ MORE

11:33 AM

Shipping stocks zoom up to 19%; SCI, GE Shipping hit record high. Check why

The rally in share prices of shipping companies comes amid various news flow around the sector. First, a TV channel has reported that the government is considering major proposals for the shipping sector in the upcoming Union Budget 2024. READ MORE