Stock Market Highlights, July 15: Mid-caps outshine Sensex, Nifty in range-bound session; PSBs zoom

Stock Market Highlights, July 15, 2024: Among sectors, the Nifty PSU Bank surged 3 per cent, while the Nifty Auto, Media, Pharma, and Realty indices edged over 1 per cent higher each

1:40 PM

ALERT:: Bank of Maha Q1 net jumps 46%; stock surges 5%

Bank of Maharashtra today reported 46.7 per cent surge in Q1 net profit at Rs 1,294 crore for the quarter ended June 2024 when compared with Rs 882 crore in the year ago period. Net Interest Income (NII) increased by 19.6 per cent YoY to Rs 2,799 crore.

1:29 PM

ONGC stock hits new high after a gap of over 10 years; up 39% from June low

In the past one year, ONGC share price has outperformed the market by surging nearly 90 per cent as against 21 per cent rally in the benchmark index. READ MORE

1:19 PM

ALERT:: Nifty hits new high at 24,633 - up 128 points

1:09 PM

This KK Modi Group stock has zoomed 121% thus far in calendar year 2024

Godfrey Phillips' portfolio comprises established cigarette brands such as Four Square, Red & White, Stellar, and Cavenders; the company also manufactures and distributes the Marlboro brand of cigarettes, which enjoys strong customer loyalty. The strong distribution network helps promote other products such as chewing products and confectionery. READ MORE

12:58 PM

Geojit Fin Svcs zooms 11% after strong Q1 results; profit surges 107% YoY

Further, the company also announced that its board of directors have approved the proposal for fundraising for an amount aggregating up to Rs 200 crore by way of issue of equity shares on rights issue basis to the eligible equity shareholders of the company. The record date of which will be disclosed later.  READ MORE

12:52 PM

ALERT :: Varun Beverages to manufacture, distribute, and sell 'Simba Munchiez' in Zimbabwe, Zambia

>> VBL, through its subsidiaries - VFZ and VBZ, has discussed with PepsiCo to enter into an Exclusive Snacks Franchising Appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute, and sell 'Simba Munchiez' in the territory of Zimbabwe & Zambia

>> An estimated investment in manufacturing facility would be around $7 million (approx. Rs 60 crore) for an annual capacity of ~5,000 MT for manufacturing of Simba Munchiez in multiple SKUs at each location of Zimbabwe and Zambia

>> The appointment will be effective on or before Oct 1, 2025 for Zimbabwe and Apr 1, 2026 for Zambia

12:40 PM

Apollo Micro Systems surges 5% on securing Make II project from Indian Army

This project is for the procurement of a Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I) under the Make II category of DAP-2020. READ MORE

12:28 PM

RVNL hits 52-week high on new order win from Central Railways; details here

“It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from Central Railway for “OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Wardha-Ballarshah Section in Nagpur division of Central Railway to meet 3000 MT loading target,” the company said in an exchange filing on Friday. READ MORE

12:19 PM

June quarter results :: Ganesh Housing slumps on weak performance

>> Net Profit falls 29% to Rs 114 cr vs Rs161 cr YoY

 

>> Revenue slips 21% to Rs 214 cr from  Rs 270 cr YoY

 

>> Ebitda drops 31% to Rs 149 cr from Rs 216 cr YoY

 

>> Margin contracts to 69.6% from 80% YoY
 

 

12:10 PM

ALERT :: Nifty tops 24,600 for the first time

12:03 PM

ALERT :: WPI inflation rises to 3.36% in June from 2.61% in May

12:01 PM

Market Check :: Top losers on BSE at this hour

11:55 AM

Market Check :: Top gainers on BSE at this hour

11:45 AM

Breakout stocks: Nykaa, DMart, Union Bank can rally up to 20%, hint charts

Nykaa

Upside Potential: 17.3%

 

Not only has the MACD given a bullish breakout for Nykaa, but the stock is also seen trading above its higher-end of the Bollinger Bands on the daily scale. Thus, the near-term bias for Nykaa stock is likely to remain bullish as long as the stock trades above Rs 180 levels; below which the key support stands at Rs 176 READ MORE

11:34 AM

Budget 2024 :: What Kotak Institutional Equities expects?

We expect the Union Budget in July to provide a combination of (1) higher capex targets, (2) higher allocation to the rural and agricultural sectors and (3) further fiscal consolidation—without shifting away from the existing prudent fiscal policy framework.

In our view, (1) the RBI’s higher-than-budgeted surplus transfer (additional 0.4% of GDP) for FY2025 and (2) strong tax collections in 2MFY25 will allow the government to provide adequate support for capex and incremental support to consumption.