Market Highlights, July 5: RIL, SBI lead fag-end recovery; benchmarks end flat; HDFC Bank down 4%

Stock Market Highlights on July 5: Shares of RIL gained 2.58 per cent, helping the Sensex, and Nifty indices recoup losses

SI Reporter New Delhi

Photo: Bloomberg

9:21 AM

Opening Bell :: Nifty tests 24,200

9:20 AM

Opening Bell :: Sensex drops 400 pts

9:11 AM

Pre-Open Session :: Nifty below 24,250

9:09 AM

Pre-Open Session :: Sensex falls over 250 pts

9:05 AM

Currency check :: Rupee opens at 83.46/$ vs Thursday’s close of 83.49/$

8:59 AM

Ganesh Green Bharat IPO opens today for bids; price, GMP, lot size here

Ganesh Green Bharat initial public offering (IPO) is set to open for subscription on Friday, July 5. The IPO aims to raise Rs 125.23 crores comprising entirely a fresh issue of around 6.59 million shares.

The proceeds from the IPO will be used for repaying outstanding borrowings, financing capital expenditures for installing additional plant and machinery at their factory, meeting working capital needs, and addressing general corporate purposes. Read more

8:42 AM

Renewables financier Ireda's high valuation may limit further stock upside

State-owned Indian Renewable Energy Development Agency’s (Ireda’s) chairman and managing director Pradip Kumar Das has announced that the company has requested the government to allow it to carry out a follow-on public offer (FPO) as it will need further equity infusion to maintain the pace of growth.

The FPO would aim to raise between Rs 4,000 crore and Rs 5,000 crore. Read more

8:35 AM

Buzzing stocks, July 5: PNB, Zomato, Ircon, Ujjivan SFB, Delhivery, UCO Bk

Ircon: Indian Railway Construction International (Ircon International) has been awarded a Letter of Acceptance (LoA) for an order from Rail Vikas Nigam (RVNL) worth Rs 751 crore. The project is won by a joint venture between Ircon, Paras Railtech Private, and PCM Strescon Overseas Ventures.

Ujjivan Small Finance Bank (Ujjivan SFB): Ujjivan SFB's June quarter deposits grew 22 per cent Y-o-Y to Rs 32,500 crore, while gross loan book increased 19 per cent to Rs 30,091 crore. CASA ratio improved to 25.6 per cent from 24.6 per cent last year. Besides, its loan disbursements grew marginally to Rs 5,305 crore versus Rs 5,284 in the year-ago period.

Poonawalla Fincorp: The NBFC's disbursements rose 5 per cent Y-o-Y to Rs 7,400 crore in Q1FY25 with assets under management rising 52 per cent Y-o-Y to Rs 26,970 crore.

IDBI Bank: IDBI Bank reported an increase of 13 per cent over the year-ago period in total deposits at Rs 2.77 trillion. Net advances, on the other hand, were up 17 per cent Y-o-Y to Rs 1.94 trillion. IDBI Bank's CASA deposits at the end of Q1FY25 stood at Rs 1.34 trillion, up up 5 per cent Y-o-Y. Read more

8:22 AM

Stocks to Watch, July 5: HDFC Bank, Bajaj Auto, Raymond, VST Ind, RBL Bank

Stocks to Watch on Friday, July 5, 2024: Indian equity benchmark indices may consolidate on Friday amid lack of market moving triggers. At 7:50 AM, GIFT Nifty was down 26 points at 24,352 levels.

Globally, Nikkei crossed the 41,000-mark to hit an all-time high of 41,100 in the intraday trade. It was up 0.13 per cent. Kospi, meanwhile, was up 0.9 per cent. Chinese, and Australian markets, meanwhile, were in the red zone. Read more

8:10 AM

NSE urges market regulator Sebi to take a 'fresh view' on much-delayed IPO

The National Stock Exchange (NSE) has urged the Securities and Exchange Board of India (Sebi) to revisit its stance on allowing the country’s largest bourse to go public.

In an affidavit submitted to the Delhi High Court—which is hearing a writ petition filed by People Activism Forum for expediting NSE's initial public offer (IPO)—the exchange has stated it has been seven years since it first filed an offer document and more than five years since Sebi returned the application. Hence, a “fresh view” is required given the latest facts and circumstances for listing its securities. Read more

7:50 AM

Bull spread on Tata Motors recommends Nandish Shah of HDFC Securities

Long build up is seen in the Tata Motors Futures where we have seen 2 per cent (Prov) rise in Open interest with price rising by 2.31 per cent. Price rise is accompanied by the rise in the volume, suggesting strength in the up move. Read more

7:48 AM

Market outlook July 05: Nifty eyes 5th weekly gain; SME Nephro Care to list

Pre-market update Friday, July 05, 2024:The NSE Nifty 50 is in the process of completing a 5-week winning streak, and has rallied nearly 8 per cent during this period. At present levels, the NSE benchmark index holds a weekly gain of nearly 300 points, to make it fifth in a row.

The recent gains are driven by renewed buying interest by foreign investors; hopes of a rate cut in the US and upcoming Union Budget expectations, said analysts. Read more