Market Highlights, July 18: IT stocks drive benchmarks to record; Sensex tops 81k, Nifty at 24,800

Stock Market Highlights, today, July 18, 2024: The Sensex index ended at 81,343, up 627 points, while Nifty ended at 24,801, up 188 points

11:37 AM

Hi-Tech Pipes zooms 6% on achieving highest ever sales volume in Q1FY25

Hi-Tech Pipes shares rally: Shares of Hi-Tech Pipes soared as much as 6.68 per cent to hit an intraday high of Rs 158.90 per share on Thursday. 

The uptick in the stock price came after the company released its sales volume update for the June quarter of financial year 2025 (Q1FY25). Hi-Tech Pipes Ltd announced that it has achieved the highest sales volume in its history for Q1FY25. Read more

 

11:16 AM

Wipro Q1 preview: Cost control to aid profit; top brass attrition in focus

Wipro, one of the leading India information technology company is set to report its first quarter financial results for the fiscal year 2024-25 (Q1FY25) on Friday, July 19. 

The IT major is expected to see a tepid June quarter with revenues estimated to slide on a year on year basis and net profits seeing a marginal rise. That apart, analysts say that there are some positives, too, for Wipro who is seeing continued cost controls and a strong deal pipeline. Read more

11:03 AM

Just Dial zooms 15%; stock hits 9-year high on strong June quarter results

Shares of Just Dial hit a 9-year high at Rs 1,189.95, zooming 15 per cent on heavy volumes after the company reported a strong 69 per cent year-on-year (YoY) jump in its net profit at Rs 141.2 crore for the first quarter of fiscal 2025 (Q1FY25). India’s leading local search engine company had posted net profit of Rs 83.4 crore in the same quarter last fiscal.

The stock surpassed its previous high of Rs 1,162.65 touched on April 30, 2024. It was quoting at its highest level since July 2015. The stock had hit a record high of Rs 1,894.70 on August 5, 2014. Read more

10:40 AM

KEC International stock price rallies 6% on Rs 1,100 crore-order win

KEC International stock price zooms:Construction engineering company KEC International share price jumped as much as 5.93 per cent to hit an intraday high of Rs 940 per share. The share price rose after the company announced that it has secured an order worth Rs 1,100 crore. Read more

 

 

10:28 AM

LTIMindtree stock rises 3%, hits 6-month high on steady Q1 earnings

Shares of LTIMindtree hit a six-month high at Rs 5,753.90, gaining 3 per cent on the BSE in Thursday’s intra-day deal after the company reported a net profit of Rs 1,135 crore for the first quarter of the current financial year (Q1FY25), down 1.5 per cent year-on-year (YoY).

On a sequential basis, the profit grew by 3.1 per cent. Revenue for the June quarter increased 5 per cent YoY at Rs 9,142.6 crore. On a sequential basis, the firm’s revenue grew 2.8 per cent. Read more

10:14 AM

ONGC hits 52-week high on commencing production of Coal Bed Methane block

Shares of ONGC soared as much as 2.45 per cent to hit a fresh 52-week high of Rs 330.30 per share. The uptick in stock price came after the company announced that it has commenced production from Coal Bed Methane Block (CBM) in Bokaro, Jharkhand. Read more

10:10 AM

Asian Paints stock falls 4% as brokerages cut target price after weak Q1

Paint industry behemoth Asian Paints reported a weak set of numbers in the June quarter of financial year 2025 (Q1FY25). Asian Paints missed Street estimates due to adverse conditions such as a heatwave and elections impacting demand, analysts noted.

According to reports, most of the international brokerages have slashed their target prices for Asian Paints stock following the weak performance in Q1FY25. Read more

9:54 AM

RVNL, Angel One, Dixon, ITC, SBI: Strategies for Budget 2024 stocks

Equity markets have been on a roll post the re-election of Narendra Modi-led National Democratic Alliance (NDA) to power in the national elections in June 2024. The Sensex and Nifty have scaled record high levels, and are up around 15 per cent from the panic low hit on June 04, 2024.

One of key factors driving the market rally has been expectations of reforms continuity by the government and strong economic growth. Read more

9:37 AM

Are global financial markets ready for Trump trade? What analysts say

Stock market impact from Donald Trump policies: From higher import tariffs, trade restrictions with China, possible scrapping of Joe Biden’s policies on renewable energy and electric vehicles (EVs), Donald Trump, according to reports, has made his intent clear on what he plans to do in case he gets elected to the White House later this year.

As a sign of continuity at the US Federal Reserve (US Fed), however, Trump, reports suggest, wants Jerome Powell to continue till his term ends. Read more

9:26 AM

All sectors in red except Nifty IT and PSU Bank

9:24 AM

LTIMindtree, Apollo Hospitals gain on NSE

9:22 AM

Broader markets in red zone

9:20 AM

Asian Paints, Tata Steel lead losses on Sensex

9:18 AM

Opening bell: Nifty 50 above 22,550, slips marginally

9:17 AM

Opening bell: Sensex slides 140 points to 80,573