Market Highlights, July 12: Sensex up 622pts, ends atop 80,500; Nifty holds 24,500; IT stocks dazzle

Stock Market Highlights on Friday, July 12, 2024: TCS shares soared nearly 7 per cent today after it posted better-than-expected June quarter (Q1) results. Infosys, Tech M, and HCL Tech followed suit

12:04 PM

ALERT :: Cyient enters semi-conductor business, forms subsidiary

>> Cyient Ltd has announced the strategic expansion of its Semiconductor business with the establishment of a fully owned subsidiary.

>> As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry's growth to $100 billion by 2030, we are wellpositioned to capitalize on the vast opportunities for growth and influence in this evolving market, Cyient said.

11:50 AM

Anand Rathi surges 4% on robust June quarter earnings; profit rises 38% YoY

Anand Rathi Wealth has been in the business of private wealth, catering to high net worth individuals (HNIs). They are also registered with AMFI as a mutual fund distributor overseeing AUM of over Rs. 59,351 crores across 9,911 families in India and globally. READ MORE

11:38 AM

Rashtriya Chemicals hits all time high on Rs 515 cr-order win; stock up 10%

In an exchange filing, Rashtriya Chemical said, “We hereby inform that the Board of Directors of the Company at its meeting held today i.e. July 11, 2024 has accorded its approval for Placement of Purchase Order on Topsoe A/s for procurement of Basic Engineering Design Package (BEDP) and Supply of Proprietary Equipment and Catalyst for revamp of Ammonia Plant at RCF Thai for reduction in specific energy consumption.” READ MORE

11:27 AM

Equity supply may hit Rs 6 trillion over next few months: Axis MF

“The pace of equity supply appears unlikely to slow down,” said Ashish Gupta, CIO, Axis MF in a note, preceding an upcoming supply of Rs 5.94 trillion. The break up of this includes Rs 93,000 crore by way of initial public offerings (IPOs), about Rs 2.77 trillion share sales by public investors in already listed companies and another Rs 2.24 trillion share sales in currently unlisted firms by private equity (PE) investors via the public markets. READ MORE

11:13 AM

Affle's shares rally 4% on patent win in US for podcast interaction system

The patent is related to the field of optimising user engagements by enabling an interaction between a user and a podcast using a podcast interaction system based on machine learning, the company said in an exchange filing on Thursday READ MORE

11:03 AM

ALERT :: Nifty hits record high of 24,592

11:01 AM

ALERT :: Sensex hits new record high on sharp spike, tops 80,800

10:50 AM

Azad Engg locked in 5% upper limit on order win from Siemens Energy Global

In an exchange filing, Azad Engineering said, “It is informed that Azad Engineering Limited has received an Award for a tenure of 5 years from Siemens Energy Global CmtH & Co. KG, Germany to manufacture and supply critical rotating components for their Global demands of Advanced Gas & Thermal Turbine Engines.” READ MORE

10:41 AM

How to trade TCS post Q1 results? Key levels to track on Infy, HCLT, Wipro

TCS stock soared nearly 3 per cent to Rs 4,033 and was the top gainer among the Sensex 30 stocks. Infosys rallied 1.5 per cent to Rs 1,680. The Infy ADR had surged 2.7 per cent in overnight trades on the New York Stock Exchange. READ MORE

10:28 AM

RBI Guv Shaktikanta Das :: No major concerns from credit growth perspective

>> We are expecting good monsoon and rural purchasing power will also improve

>> Project finance proposal is still a draft circular; we’ve been adoring a very consultative approach

Source: In conversation with CNBC TV18

10:26 AM

RBI Guv Shaktikanta Das :: Not looking at stock market froth so much for rate cut cues

>> We look at what spillovers will rate cuts cause

>> We need to look at financial markets' stability

10:24 AM

RBI Guv Shaktikanta Das :: Even rural consumption, which was lagging, has picked up

>> Direction of growth is important and not just the numbers

Source: In conversation with CNBC TV18

10:20 AM

SME Listing :: Ganesh Green Bharat hits 5% upper circuit post listing

10:06 AM

SME IPO listing :: Effwa Infra lists at Rs 155.8 on NSE

9:56 AM

Bondada Engg stock price hits 5% upper circuit on securing Rs 317 cr-order

Under the terms of the order, the company will mainly look at the operations and maintenance work of: TG Main SP O&M Contract Facility; TG Main SP O&M Contract Fiber FTTx; and TG Main SP O&M Contract Tower. READ MORE